Document:

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                                                                    EXHIBIT 4(a)

================================================================================

                                 $385,000,000.00
                                   THREE YEAR

                                CREDIT AGREEMENT

                                   dated as of

                                November 5, 2002

                                      among

                                  CUMMINS INC.,
                            CUMMINS ENGINE CO. LTD.,
                         CUMMINS POWER GENERATION LTD.,
                          NEWAGE INTERNATIONAL LIMITED,

                  THE ELIGIBLE SUBSIDIARIES REFERRED TO HEREIN

                            The Lenders Party Hereto,

                              JPMORGAN CHASE BANK,
                  as Administrative Agent and Collateral Agent,

                               CITICORP USA, INC.,
                              as Syndication Agent,

                                       and

                              BANK OF AMERICA, N.A.
                                       and

                            THE BANK OF NOVA SCOTIA,
                           as Co-Documentation Agents.

                                   ----------

                           J.P. MORGAN SECURITIES INC.

                                       and

                           SALOMON SMITH BARNEY INC.,
                   as Joint Bookrunners and Co-Lead Arrangers

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                                TABLE OF CONTENTS

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                                    ARTICLE 1
                                   DEFINITIONS

SECTION 1.01.  DEFINED TERMS................................................................................1
SECTION 1.02.  CLASSIFICATION OF LOANS AND BORROWINGS......................................................18
SECTION 1.03.  TERMS GENERALLY.............................................................................18
SECTION 1.04.  ACCOUNTING TERMS; GAAP......................................................................19

                                    ARTICLE 2
                                   THE CREDITS

SECTION 2.01.  COMMITMENTS.................................................................................19
SECTION 2.02.  LOANS AND BORROWINGS........................................................................19
SECTION 2.03.  REQUESTS FOR REVOLVING BORROWINGS...........................................................20
SECTION 2.04.  SWINGLINE LOANS.............................................................................20
SECTION 2.05.  LETTERS OF CREDIT...........................................................................22
SECTION 2.06.  FUNDING OF BORROWINGS.......................................................................26
SECTION 2.07.  INTEREST ELECTIONS..........................................................................27
SECTION 2.08.  TERMINATION AND REDUCTION OF COMMITMENTS....................................................28
SECTION 2.09.  REPAYMENT OF LOANS; EVIDENCE OF DEBT........................................................29
SECTION 2.10.  PREPAYMENT OF LOANS.........................................................................30
SECTION 2.11.  FEES........................................................................................30
SECTION 2.12.  INTEREST....................................................................................31
SECTION 2.13.  ALTERNATE RATE OF INTEREST..................................................................32
SECTION 2.14.  INCREASED COSTS.............................................................................32
SECTION 2.15.  BREAK FUNDING PAYMENTS......................................................................33
SECTION 2.16.  TAXES.......................................................................................34
SECTION 2.17.  FOREIGN SUBSIDIARY COSTS....................................................................35
SECTION 2.18.  PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF SET-OFFS.................................35
SECTION 2.19.  MITIGATION OBLIGATIONS; REPLACEMENT OF LENDERS..............................................37
SECTION 2.20.  CURRENCY EQUIVALENTS........................................................................38

                                    ARTICLE 3
                         REPRESENTATIONS AND WARRANTIES

SECTION 3.01.  ORGANIZATION; POWERS........................................................................39
SECTION 3.02.  AUTHORIZATION...............................................................................39
SECTION 3.03.  ENFORCEABILITY..............................................................................39
SECTION 3.04.  GOVERNMENTAL APPROVALS......................................................................39
SECTION 3.05.  FINANCIAL STATEMENTS........................................................................39
SECTION 3.06.  TITLE TO PROPERTIES; POSSESSION UNDER LEASES................................................40
SECTION 3.07.  SUBSIDIARIES................................................................................40
SECTION 3.08.  LITIGATION; COMPLIANCE WITH LAWS............................................................40
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SECTION 3.09.  NON-EXISTENCE OF CERTAIN TYPES OF AGREEMENTS OR OBLIGATIONS.................................40
SECTION 3.10.  FEDERAL RESERVE REGULATIONS.................................................................41
SECTION 3.11.  NO REGULATORY RESTRICTIONS ON BORROWING.....................................................41
SECTION 3.12.  TAX RETURNS.................................................................................41
SECTION 3.13.  ENVIRONMENTAL MATTERS.......................................................................41
SECTION 3.14.  ERISA.......................................................................................42
SECTION 3.15.  NO MATERIAL MISSTATEMENTS...................................................................42
SECTION 3.16.  SOLVENCY....................................................................................42

                                    ARTICLE 4
                                   CONDITIONS

SECTION 4.01.  EFFECTIVE DATE..............................................................................43
SECTION 4.02.  EACH CREDIT EVENT...........................................................................44
SECTION 4.03.  FIRST BORROWING BY EACH ELIGIBLE SUBSIDIARY.................................................44

                                    ARTICLE 5
                              AFFIRMATIVE COVENANTS

SECTION 5.01.  EXISTENCE; BUSINESSES AND PROPERTIES........................................................45
SECTION 5.02.  INSURANCE...................................................................................45
SECTION 5.03.  OBLIGATIONS AND TAXES.......................................................................46
SECTION 5.04.  FINANCIAL STATEMENTS, REPORTS, ETC..........................................................46
SECTION 5.05.  LITIGATION AND OTHER NOTICES................................................................47
SECTION 5.06.  INFORMATION REGARDING COLLATERAL............................................................48
SECTION 5.07.  MAINTAINING RECORDS; ACCESS TO PROPERTIES AND INSPECTIONS...................................48
SECTION 5.08.  USE OF PROCEEDS AND LETTERS OF CREDIT.......................................................48
SECTION 5.09.  COMPLIANCE WITH LAWS........................................................................49
SECTION 5.10.  ADDITIONAL SUBSIDIARIES.....................................................................49
SECTION 5.11.  SECURITY DOCUMENTS; FURTHER ASSURANCES......................................................49

                                    ARTICLE 6
                               NEGATIVE COVENANTS

SECTION 6.01.  NEGATIVE PLEDGE.............................................................................50
SECTION 6.02.  SALE AND LEASE-BACK TRANSACTIONS............................................................51
SECTION 6.03.  MERGERS, CONSOLIDATIONS, AND SALES OF ASSETS................................................51
SECTION 6.04.  OBLIGATIONS OF SUBSIDIARIES.................................................................51
SECTION 6.05.  AMENDMENTS OF CERTAIN AGREEMENTS............................................................52
SECTION 6.06.  SWAP AGREEMENTS.............................................................................52
SECTION 6.07.  RESTRICTIVE AGREEMENTS......................................................................52
SECTION 6.08.  OWNERSHIP OF SIGNIFICANT SUBSIDIARIES.......................................................52
SECTION 6.09.  FUNDAMENTAL CHANGES.........................................................................52
SECTION 6.10.  UNRESTRICTED SUBSIDIARIES...................................................................52
</Table>

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                                    ARTICLE 7
                               FINANCIAL COVENANTS

SECTION 7.01.  NET WORTH...................................................................................53
SECTION 7.02.  LEVERAGE....................................................................................53
SECTION 7.03.  COVERAGE RATIO..............................................................................53

                                    ARTICLE 8
                                EVENTS OF DEFAULT

                                    ARTICLE 9
                                   THE AGENTS

SECTION 9.01.  APPOINTMENT AND AUTHORIZATION OF ADMINISTRATIVE AGENT.......................................56
SECTION 9.02.  RIGHTS AND POWERS OF ADMINISTRATIVE AGENT AS A LENDER.......................................56
SECTION 9.03.  LIMITED DUTIES AND RESPONSIBILITIES OF ADMINISTRATIVE AGENT.................................56
SECTION 9.04.  AUTHORITY OF ADMINISTRATIVE AGENT TO RELY ON CERTAIN WRITINGS, STATEMENTS AND ADVICE........57
SECTION 9.05.  SUB-AGENTS AND RELATED PARTIES..............................................................57
SECTION 9.06.  RESIGNATION; SUCCESSOR ADMINISTRATIVE AGENT.................................................57
SECTION 9.07.  CREDIT DECISIONS BY LENDERS.................................................................58
SECTION 9.08.  ADMINISTRATIVE AGENT'S FEE..................................................................58
SECTION 9.09.  OTHER AGENTS................................................................................58

                                   ARTICLE 10
             REPRESENTATIONS AND WARRANTIES OF ELIGIBLE SUBSIDIARIES

SECTION 10.01. ORGANIZATION; POWERS........................................................................58
SECTION 10.02. AUTHORIZATION...............................................................................58
SECTION 10.03. ENFORCEABILITY..............................................................................58
SECTION 10.04. TAXES.......................................................................................59

                                   ARTICLE 11
                                    GUARANTY

SECTION 11.01. THE GUARANTY................................................................................59
SECTION 11.02. GUARANTY UNCONDITIONAL......................................................................59
SECTION 11.03. DISCHARGE ONLY UPON PAYMENT IN FULL; REINSTATEMENT IN CERTAIN CIRCUMSTANCES.................60
SECTION 11.04. WAIVER BY THE COMPANY.......................................................................60
SECTION 11.05. SUBROGATION.................................................................................60
SECTION 11.06. STAY OF ACCELERATION........................................................................60
SECTION 11.07. CONTINUING GUARANTEE........................................................................60
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                                   ARTICLE 12
                                  MISCELLANEOUS

SECTION 12.01. NOTICES.....................................................................................61
SECTION 12.02. WAIVERS; AMENDMENTS.........................................................................62
SECTION 12.03. EXPENSES; INDEMNITY; DAMAGE WAIVER..........................................................63
SECTION 12.04. SUCCESSORS AND ASSIGNS......................................................................64
SECTION 12.05. SURVIVAL....................................................................................67
SECTION 12.06. COUNTERPARTS; INTEGRATION; EFFECTIVENESS....................................................68
SECTION 12.07. SEVERABILITY................................................................................68
SECTION 12.08. RIGHT OF SET-OFF............................................................................68
SECTION 12.09. GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS..................................68
SECTION 12.10. WAIVER OF JURY TRIAL........................................................................69
SECTION 12.11. JUDGMENT CURRENCY...........................................................................69
SECTION 12.12. HEADINGS....................................................................................70
SECTION 12.13. CONFIDENTIALITY.............................................................................70
</Table>

SCHEDULES

Schedule 1.01      -  Pricing Schedule
Schedule 2.01      -  Commitments
Schedule 2.05      -  Existing Letters of Credit
Schedule 3.07      -  Subsidiaries
Schedule 3.09(c)   -  Certain Agreements
Schedule 3.09(d)   -  Priority Indebtedness
Schedule 3.09(e)   -  Existing Guarantees
Schedule 3.13      -  Disclosed Matters
Schedule 6.07      -  Existing Restrictions

EXHIBITS

Exhibit A     -  Form of Assignment and Assumption
Exhibit B-1   -  Form of Opinion of Company's External Counsel
Exhibit B-2   -  Form of Opinion of Company's Internal Counsel
Exhibit B-3   -  Form of Opinion of Original Subsidiary Borrowers' Counsel
Exhibit B-4   -  Form of Opinion of Company's Delaware Counsel
Exhibit C     -  Form of Opinion of Administrative Agent's Counsel
Exhibit D     -  Election to Participate
Exhibit E     -  Election to Terminate
Exhibit F     -  Form of Opinion of Eligible Subsidiary's Counsel
Exhibit G     -  Form of Compliance Certificate
Exhibit H     -  Security Agreement

                                       iv
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     CREDIT AGREEMENT dated as of November 5, 2002 among CUMMINS INC., CUMMINS
ENGINE CO. LTD., CUMMINS POWER GENERATION LTD., NEWAGE INTERNATIONAL LIMITED,
the ELIGIBLE SUBSIDIARIES referred to herein, the LENDERS party hereto, JPMORGAN
CHASE BANK, as Administrative Agent and Collateral Agent, CITICORP USA, INC., as
Syndication Agent, and BANK OF AMERICA, N.A. and THE BANK OF NOVA SCOTIA, as
Co-Documentation Agents.

     The parties hereto agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

     Section 1.01. DEFINED TERMS. As used in this Agreement, the following terms
have the meanings specified below:

     "ABR", when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are bearing interest at a
rate determined by reference to the Alternate Base Rate.

     "ADDITIONAL LETTER OF CREDIT" means a letter of credit issued hereunder by
the Issuing Bank on or after the Effective Date.

     "ADJUSTED LIBO RATE" means, with respect to any Euro-Currency Borrowing for
any Interest Period, an interest rate per annum (rounded upwards, if necessary,
to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period
multiplied by (b) the Statutory Reserve Rate.

     "ADMINISTRATIVE AGENT" means JPMorgan Chase Bank, in its capacity as
administrative agent for the Lenders hereunder.

     "ADMINISTRATIVE QUESTIONNAIRE" means an Administrative Questionnaire in a
form supplied by the Administrative Agent.

     "AFFILIATE" means, with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is
Controlled by or is under common Control with the Person specified.

     "AGENTS" means the Administrative Agent, the Syndication Agent, each
Co-Documentation Agent and the Collateral Agent.

     "ALTERNATE BASE RATE" means, for any day, a rate per annum equal to the
greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds
Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate
Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate
shall be effective from and including the effective date of such change in the
Prime Rate or the Federal Funds Effective Rate, respectively.

     "ALTERNATIVE CURRENCY" means Euro or Pound Sterling.

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     "ALTERNATIVE CURRENCY LOAN" means a Revolving Loan that is made in an
Alternative Currency pursuant to the applicable Borrowing Request. Any Loan made
in the currency of a Participating Member State before the date on which such
Participating Member State adopts the Euro as its currency (the "ENTRY DATE")
and still outstanding on the Entry Date shall be prepaid on the last day of the
Interest Period applicable thereto on the Entry Date.

     "ALTERNATIVE CURRENCY SUBLIMIT" means $60,000,000.

     "APPLICABLE LENDING OFFICE" means, with respect to any Lender, (a) in the
case of its ABR Loans, its Domestic Lending Office, (b) in the case of its
Euro-Currency Loans, its Euro-Currency Lending Office and (c) in the case of its
Swingline Loans, its Swingline Lending Office.

     "APPLICABLE PERCENTAGE" means, with respect to any Lender, the percentage
of the total Commitments represented by such Lender's Commitment. If the
Commitments have terminated or expired, the Applicable Percentages shall be
determined based upon the Commitments most recently in effect, giving effect to
any assignments.

     "APPLICABLE RATE" means, for any day, with respect to any ABR Loan or
Euro-Currency Loan, or with respect to the commitment fees payable hereunder, as
the case may be, the applicable rate per annum for ABR Loans and Euro-Currency
Loans or the Commitment Fee Rate, respectively, in each case as determined for
such day in accordance with the Pricing Schedule.

     "APPROVED FUND" has the meaning assigned to such term in Section 12.04.

     "ASSIGNMENT AND ASSUMPTION" means an assignment and assumption entered into
by a Lender and an assignee (with the consent of any party whose consent is
required by Section 12.04), and accepted by the Administrative Agent, in the
form of Exhibit A or any other form approved by the Administrative Agent and the
Company.

     "ATTRIBUTABLE VALUE" of any Sale and Lease-Back Transaction means, at any
time, an amount equal to the product of (a) the greater of (i) the net proceeds
of the sale of the property subject thereto and (ii) the fair market value of
such property at the time of such sale (as determined by the board of directors
of the Company or by an independent appraiser) and (b) a fraction the numerator
of which equals the number of full years in the term of the relevant lease
remaining at such time and the denominator of which equals the number of full
years in the term of such lease at such time, in each case computed without
regard to any renewal or extension options (other than those at the option of
the lessor) contained in such lease.

     "AVAILABILITY PERIOD" means the period from and including the Effective
Date to but excluding the earlier of the Maturity Date and the date of
termination of the Commitments.

     "BOARD" means the Board of Governors of the Federal Reserve System of the
United States of America.

     "BORROWER" means the Company, any Original Subsidiary Borrower or any
Eligible Subsidiary, as the context may require, and their respective
successors, and "BORROWERS" means

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all of the foregoing. When used in relation to any Loan or Letter of Credit,
references to "the Borrower" are to the particular Borrower to which such Loan
is or is to be made or at whose request such Letter of Credit is or is to be
issued.

     "BORROWING" means (a) Revolving Loans of the same Type, made, converted or
continued on the same date and, in the case of Euro-Currency Loans, denominated
in the same currency and as to which a single Interest Period is in effect or
(b) a Swingline Loan.

     "BORROWING REQUEST" means a request by the Borrower for a Revolving
Borrowing in accordance with Section 2.03.

     "CAPITAL EXPENDITURES" means, for any period, without duplication, (a) the
additions to property, plant and equipment and other capital expenditures of the
Company and its Subsidiaries that are (or would be) set forth in a consolidated
statement of cash flows of the Company and its Subsidiaries for such period
prepared in accordance with GAAP and (b) any Capital Lease Obligations incurred
by the Company and its Subsidiaries during such period.

     "CAPITAL LEASE OBLIGATIONS" of any Person means the obligations of such
Person to pay rent or other amounts under any lease of (or other arrangement
conveying the right to use) real or personal property, or a combination thereof,
which obligations are required to be classified and accounted for as capital
leases on a balance sheet of such Person under GAAP, and the amount of such
obligations shall be the capitalized amount thereof determined in accordance
with GAAP.

     "CASH COLLATERAL ACCOUNT" has the meaning specified in Section 1 of the
Security Agreement.

     "CDC" means Consolidated Diesel Company, a North Carolina general
partnership.

     "CHANGE IN CONTROL" means that (a) any Person or group of persons within
the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 becomes
the beneficial owner, directly or indirectly, of 30% or more of the outstanding
common stock of the Company or (b) individuals who constitute the Continuing
Directors cease for any reason to constitute at least a majority of the board of
directors of the Company (which, for the purpose of this definition, shall be
deemed not to mean any committee of the board of directors of the Company).

     "CHANGE IN LAW" means (a) the adoption of any law, rule or regulation after
the date of this Agreement, (b) any change in any law, rule or regulation or in
the interpretation or application thereof by any Governmental Authority after
the date of this Agreement or (c) compliance by any Lender or the Issuing Bank
(or, for purposes of Section 2.14(b), by any Applicable Lending Office of such
Lender or by such Lender's or the Issuing Bank's holding company, if any) with
any request, guideline or directive (whether or not having the force of law) of
any Governmental Authority made or issued after the date of this Agreement.

     "CLASS", when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are Revolving Loans or
Swingline Loans.

     "CLO" has the meaning assigned to such term in Section 12.04.

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     "CO-DOCUMENTATION AGENTS" means Bank of America, N.A. and The Bank of Nova
Scotia, in their capacity as co-documentation agents in respect of this
Agreement.

     "CODE" means the Internal Revenue Code of 1986, as amended from time to
time.

     "COLLATERAL" means any and all "Collateral" as defined in any Security
Document.

     "COLLATERAL AGENT" means JPMorgan Chase Bank, in its capacity as Collateral
Agent under the Security Agreement and the other Security Documents, and its
successors in such capacity.

     "COLLATERAL AND GUARANTEE REQUIREMENT" means the requirement that:

     (a) the Collateral Agent shall have received from the Company and each
Material Subsidiary which is neither a Foreign Subsidiary nor an Exempt SPV
either (i) a duly executed and delivered counterpart of the Security Agreement
or (ii) in the case of any Person which becomes a Material Subsidiary which is
neither a Foreign Subsidiary nor an Exempt SPV after the Effective Date, a
supplement to the Security Agreement, in the form specified therein, duly
executed and delivered on behalf of such Material Subsidiary;

     (b) all outstanding Equity Interests in any Material Subsidiary which is an
Unrestricted Subsidiary owned directly by the Company or any Subsidiary
Guarantor shall have been pledged pursuant to the Security Agreement (except
that neither the Company nor any Subsidiary Guarantor shall be required to
pledge more than 65% of the outstanding voting Equity Interests in any Foreign
Subsidiary) and the Collateral Agent shall have received all certificates or
other instruments representing such Equity Interests, together with stock powers
or other instruments of transfer with respect thereto endorsed in blank;

     (c) all outstanding Intercompany Notes held directly by the Company or any
Subsidiary Guarantor shall have been pledged to the extent required pursuant to
the Security Agreement and the Collateral Agent shall have received all such
Intercompany Notes, together with bond powers or other instruments of transfer
with respect thereto endorsed in blank;

     (d) all documents and instruments, including Uniform Commercial Code
financing statements, required by law or reasonably requested by the Collateral
Agent to be filed, registered or recorded to create the Liens intended to be
created by the Security Documents and perfect or record such Liens to the
extent, and with the priority, required by the Security Documents, shall have
been filed, registered or recorded or delivered to the Collateral Agent for
filing, registration or recording;

     (e) the Company and each Subsidiary Guarantor shall have obtained all
consents and approvals required to be obtained by it in connection with the
execution and delivery of all Security Documents to which it is a party, the
performance of its obligations thereunder and the granting of the Liens granted
by it thereunder; and

     (f) the Company and each Subsidiary Guarantor shall have taken all other
action required under the Security Documents to be completed on or prior to the
Effective Date to perfect, register and/or record the Liens granted by it
thereunder.

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For avoidance of doubt, none of clauses (a) through (f) above shall require the
creation of any mortgage, pledge, lien, security interest or encumbrance on any
Principal Property (as defined in the Indenture) or on any stock or indebtedness
of any Restricted Subsidiary (as such terms are used in the Indenture).

     "COMMITMENT" means, with respect to each Lender, the commitment of such
Lender to make Revolving Loans and to acquire participations in Letters of
Credit and Swingline Loans hereunder, expressed as an amount representing the
maximum aggregate Dollar Amount of such Lender's Revolving Credit Exposure
hereunder, as such commitment may be (a) reduced from time to time pursuant to
Section 2.08 and (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 12.04. The initial amount
of each Lender's Commitment is set forth on Schedule 2.01, or in the Assignment
and Assumption pursuant to which such Lender shall have assumed its Commitment,
as applicable. The initial aggregate amount of the Lenders' Commitments is
$385,000,000.

     "COMMITMENT FEE RATE" means the applicable rate determined in accordance
with the Pricing Schedule.

     "COMPANY" means Cummins Inc., an Indiana corporation.

     "CONSOLIDATED" means, as applied to any financial or accounting term with
respect to any Person, such term determined on a consolidated basis in
accordance with GAAP for such Person and all consolidated subsidiaries thereof.

     "CONSOLIDATED EBITDA" means, for any period, Consolidated Net Income for
such period plus (a) without duplication and to the extent deducted in
determining such Consolidated Net Income, the sum of (i) consolidated interest
expense for such period, (ii) consolidated income tax expense for such period,
(iii) all amounts attributable to depreciation and amortization for such period
and (iv) any extraordinary or non-recurring non-cash charges for such period and
minus (b) without duplication and to the extent included in determining such
Consolidated Net Income, (i) any extraordinary gains for such period and (ii)
any income of any joint venture, except to the extent that dividends or other
distributions were actually paid by such joint venture to the Company and its
Subsidiaries during such period, all determined on a consolidated basis in
accordance with GAAP.

     "CONSOLIDATED INDEBTEDNESS" means the Indebtedness of the Company and its
Subsidiaries, Consolidated in accordance with GAAP; PROVIDED, however, that the
term "Consolidated Indebtedness" shall in any event exclude (i) Indebtedness of
CDC and its subsidiaries, except to the extent that the portion thereof
attributable to the Company (through the Company's interest in CDC) exceeds
$100,000,000, (ii) Guarantees of the Company outstanding from time to time in an
aggregate amount not to exceed $85,000,000 and (iii) any Indebtedness
attributable to convertible cumulative quarterly income preferred securities
issued by Cummins Capital Trust I prior to the date hereof.

     "CONSOLIDATED INTEREST EXPENSE" means, for any period, the interest expense
(including imputed interest expense in respect of Capital Lease Obligations) of
the Company and its Subsidiaries for such period, determined on a Consolidated
basis in accordance with GAAP.

                                        5
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     "CONSOLIDATED NET INCOME" means, for any period, the net earnings (loss) of
the Company and its Subsidiaries for such period, computed and Consolidated in
accordance with GAAP.

     "CONSOLIDATED SUBSIDIARY" means, at any date, any Subsidiary or other
entity the accounts of which would be Consolidated with those of the Company in
its consolidated financial statements if such statements were prepared as of
such date.

     "CONTINUING DIRECTOR" means any member of the board of directors of the
Company who is (i) a director of the Company on the date of this Agreement, (ii)
nominated by the board of directors of the Company or (iii) appointed by
directors so nominated.

     "CONTROL" means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether
through the ability to exercise voting power, by contract or otherwise.
"CONTROLLING" and "CONTROLLED" have meanings correlative thereto.

     "CREDIT PARTY" means each Borrower and each Subsidiary Guarantor.

     "DEFAULT" means any event or condition which constitutes an Event of
Default or which upon notice, lapse of time or both would, unless cured or
waived, become an Event of Default.

     "DISCLOSED MATTERS" means the actions, suits and proceedings and the
environmental matters disclosed in Schedule 3.13.

     "DOLLARS" or "$" refers to lawful money of the United States of America.

     "DOLLAR AMOUNT" means, at any time:

               (a) with respect to any Dollar-Denominated Loan, the principal
     amount thereof then outstanding;

               (b) with respect to any Alternative Currency Loan, the principal
     amount thereof then outstanding in the relevant Alternative Currency,
     converted to Dollars in accordance with Section 2.20(a); and

               (c) with respect to any Letter of Credit or LC Disbursement, (A)
     if denominated in Dollars, the amount thereof and (B) if denominated in an
     Alternative Currency, the amount thereof converted to Dollars in accordance
     with Section 2.20(b).

     "DOLLAR-DENOMINATED LOAN" means a Loan that is made in Dollars.

     "DOMESTIC BUSINESS DAY" means any day except a Saturday, Sunday or other
day on which commercial banks in New York City are authorized by law to close.

     "DOMESTIC LENDING OFFICE" means, as to each Lender, its office located at
its address set forth in its Administrative Questionnaire (or identified in its
Administrative Questionnaire as its

                                        6
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Domestic Lending Office) or such other office as such Lender may hereafter
designate as its Domestic Lending Office by notice to the Company and the
Administrative Agent.

     "EFFECTIVE DATE" means the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 12.02).

     "ELECTION TO PARTICIPATE" means an Election to Participate substantially in
the form of Exhibit D.

     "ELECTION TO TERMINATE" means an Election to Terminate substantially in the
form of Exhibit E.

     "ELIGIBLE SUBSIDIARY" means any Wholly-Owned Consolidated Subsidiary as to
which an Election to Participate shall have been delivered to the Administrative
Agent and as to which an Election to Terminate with respect to such Election to
Participate shall not have been delivered to the Administrative Agent. Each such
Election to Participate and Election to Terminate shall be duly executed on
behalf of such Wholly-Owned Consolidated Subsidiary and the Company in such
number of copies as the Administrative Agent may request. If at any time a
Subsidiary theretofore designated as an Eligible Subsidiary no longer qualifies
as a Wholly-Owned Consolidated Subsidiary, the Company shall cause to be
delivered to the Administrative Agent an Election to Terminate terminating the
status of such Subsidiary as an Eligible Subsidiary. The delivery of an Election
to Terminate shall not affect any obligation of an Eligible Subsidiary
theretofore incurred or the Company's guarantee thereof. The Administrative
Agent shall promptly give notice to the Lenders of the receipt of any Election
to Participate or Election to Terminate.

     "ENVIRONMENTAL LAWS" means all laws, rules, regulations, codes, ordinances,
orders, decrees, judgments, injunctions, notices or binding agreements issued,
promulgated or entered into by any Governmental Authority, relating in any way
to the environment, preservation or reclamation of natural resources, the
management, release or threatened release of any Hazardous Material or to health
and safety matters.

     "ENVIRONMENTAL LIABILITY" means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines,
penalties or indemnities), of the Company or any Subsidiary directly or
indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials,
(d) the release or threatened release of any Hazardous Materials into the
environment or (e) any contract, agreement or other consensual arrangement
pursuant to which liability is assumed or imposed with respect to any of the
foregoing.

     "EQUITY INTERESTS" means shares of capital stock, partnership interests,
membership interests in a limited liability company, beneficial interests in a
trust or other equity ownership interests in a Person, and any warrants, options
or other rights entitling the holder thereof to purchase or acquire any such
equity interest.

     "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time.

                                        7
<Page>

     "ERISA AFFILIATE" means any trade or business (whether or not incorporated)
that, together with the Borrower, is treated as a single employer under Section
414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and
Section 412 of the Code, is treated as a single employer under Section 414 of
the Code.

     "ERISA EVENT" means (a) any "reportable event", as defined in Section 4043
of ERISA or the regulations issued thereunder with respect to a Plan (other than
an event for which the 30-day notice period is waived), (b) the existence with
respect to any Plan of an "accumulated funding deficiency" (as defined in
Section 412 of the Code or Section 302 of ERISA), whether or not waived, (c) the
filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an
application for a waiver of the minimum funding standard with respect to any
Plan, (d) the incurrence by the Company or any of its ERISA Affiliates of any
liability under Title IV of ERISA with respect to the termination of any Plan,
(e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Plan or
Plans or to appoint a trustee to administer any Plan, (f) the incurrence by the
Company or any of its ERISA Affiliates of any liability with respect to the
withdrawal or partial withdrawal from any Plan or Multiemployer Plan, or (g) the
receipt by the Company or any ERISA Affiliate of any notice, or the receipt by
any Multiemployer Plan from the Company or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization,
within the meaning of Title IV of ERISA.

     "EURO" means the single currency of the Participating Member States.

     "EURO-CURRENCY BUSINESS DAY" means a Euro Dollar Business Day; PROVIDED
that (a) when used in connection with an Alternative Currency Loan or LC
Exposure denominated in an Alternative Currency, the term "Euro-Currency
Business Day" shall exclude any day on which banks are not open for dealings in
deposits in the applicable currency in the London interbank market and (b) when
used in connection with any Loan or LC Exposure denominated in Euro, the term
"Euro-Currency Business Day" shall exclude any day on which the TARGET payment
system is not open for the settlement of payment in Euro.

     "EURO-CURRENCY LENDING OFFICE" means, as to each Lender, its office, branch
or affiliate located at its address set forth in its Administrative
Questionnaire (or identified in its Administrative Questionnaire as its
Euro-Currency Lending Office) or such other office, branch or affiliate of such
Lender as it may hereafter designate as its Euro-Currency Lending Office by
notice to the Company and the Administrative Agent; PROVIDED that any Lender may
from time to time by notice to the Borrower and the Administrative Agent
designate separate Euro-Currency Lending Offices for its Loans in different
currencies, in which case all references herein to the Euro-Currency Lending
Office of such Lender shall be deemed to refer to any or all of such offices, as
the context may require.

     "EURO-CURRENCY LOAN" means either a Euro-Dollar Loan or an Alternative
Currency Loan.

                                        8
<Page>

     "EURO-DOLLAR", when used in reference to any Loan or Borrowing made in
Dollars, refers to whether such Loan, or the Loans comprising such Borrowing,
are bearing interest at a rate determined by reference to the Adjusted LIBO
Rate.

     "EURO-DOLLAR BUSINESS DAY" means any Domestic Business Day on which
commercial banks are open for international business (including dealings in
Dollar deposits) in London.

     "EVENT OF DEFAULT" has the meaning assigned to such term in Article 8.

     "EVERGREEN LETTER OF CREDIT" means a Letter of Credit that is automatically
extended unless the Issuing Bank gives notice to the beneficiary thereof stating
that such Letter of Credit will not be extended.

     "EXCLUDED TAXES" means, with respect to the Administrative Agent, any
Lender, the Issuing Bank or any other recipient of any payment to be made by or
on account of any obligation of the Borrower under any Loan Document, (a) income
or franchise taxes imposed on (or measured by) its net income by the United
States of America, or by the jurisdiction under the laws of which such recipient
is organized or in which its principal office is located or, in the case of any
Lender, in which its Applicable Lending Office is located, (b) any branch
profits taxes imposed by the United States of America or any similar tax imposed
by any other jurisdiction described in clause (a) above and (c) in the case of a
Foreign Lender (other than an assignee pursuant to a request by the Borrower
under Section 2.19(b)), any withholding tax that (i) is imposed on amounts
payable to such Foreign Lender at the time such Foreign Lender becomes a party
to this Agreement (or designates a new Applicable Lending Office), except to the
extent that such Foreign Lender (or its assignor, if any) was entitled, at the
time of designation of a new Applicable Lending Office (or assignment), to
receive additional amounts from the Borrower with respect to such withholding
tax pursuant to Section 2.16(a) or (ii) is attributable to such Foreign Lender's
failure to comply with Section 2.16(e).

     "EXEMPT SPV" means Cummins Receivables Corp. and any other special purpose
entity that is (a) created and utilized by the Company or any Subsidiary solely
to effect a securitization transaction, (b) identified by the Company in written
notice to the Administrative Agent as an Exempt SPV and (c) approved in writing
by the Administrative Agent (such approval not to be unreasonably withheld), and
their respective successors.

     "EXISTING CREDIT AGREEMENT" means the Amended and Restated Credit Agreement
dated as of January 8, 1998, as amended, among the Company, the banks parties
thereto and JPMorgan Chase Bank, formerly Morgan Guaranty Trust Company of New
York, as agent, as amended to the Effective Date.

     "EXISTING LETTERS OF CREDIT" means the letters of credit issued by the
Issuing Bank before the Effective Date and listed in Schedule 2.05.

     "FEDERAL FUNDS EFFECTIVE RATE" means, for any day, the weighted average
(rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on
overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers, as published on the next succeeding Domestic
Business Day by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day that is a Domestic Business Day, the

                                        9
<Page>

average (rounded upwards, if necessary, to the next 1/100 of 1%) of the
quotations for such day for such transactions received by the Administrative
Agent from three Federal funds brokers of recognized standing selected by it.

     "FINANCIAL OFFICER" means the chief financial officer, principal accounting
officer, treasurer or assistant treasurer.

     "FOREIGN LENDER" means any Lender that is organized under the laws of a
jurisdiction other than that in which the Company is located. For purposes of
this definition, the United States of America, each State thereof and the
District of Columbia shall be deemed to constitute a single jurisdiction.

     "FOREIGN SUBSIDIARY" means any Subsidiary which is a "controlled foreign
corporation" within the meaning of the Code.

     "GAAP" means generally accepted accounting principles in the United States
as described in Section 1.04.

     "GOVERNMENTAL AUTHORITY" means the government of the United States of
America, any other nation or any political subdivision thereof, whether state or
local, and any agency, authority, instrumentality, regulatory body, court,
central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to
government.

     "GUARANTEE" of or by any Person means any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of
guaranteeing any Indebtedness of any other Person (the "primary obligor") in any
manner, whether directly or indirectly, and including any obligation of such
Person, direct or indirect, (a) to purchase or pay (or advance or supply funds
for the purchase or payment of) such Indebtedness or to purchase (or to advance
or supply funds for the purchase of) any security for the payment of such
Indebtedness, (b) to purchase property, securities or services for the purpose
of assuring the owner of such Indebtedness of the payment of such Indebtedness
or (c) to maintain working capital, equity capital or other financial statement
condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness; PROVIDED, however, that, the term "Guarantee"
shall not include endorsements for collection or deposit in the ordinary course
of business.

     "HAZARDOUS MATERIALS" means all explosive or radioactive substances or
wastes and all hazardous or toxic substances, wastes or other pollutants,
including petroleum or petroleum distillates, asbestos or asbestos containing
materials, polychlorinated biphenyls, radon gas, infectious or medical wastes
and all other substances or wastes of any nature regulated pursuant to any
Environmental Law.

     "INDEBTEDNESS" of any Person means, without duplication, (a) all
obligations of such Person for borrowed money or with respect to deposits or
advances of any kind, (b) all obligations of such Person evidenced by bonds,
debentures, notes or similar instruments, (c) all obligations of such Person
upon which interest charges are customarily paid, (d) all obligations of such
Person under conditional sale or other title retention agreements relating to
property or assets purchased by such Person, (e) all obligations of such Person
issued or assumed as the

                                       10
<Page>

deferred purchase price of property or services, (f) all Indebtedness of others
secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such Person, whether or not the obligations secured thereby have
been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h)
all Capital Lease Obligations of such Person and (i) all obligations of such
Person as an account party in respect of letters of credit and bankers'
acceptances. The Indebtedness of any Person shall also include the Indebtedness
of any partnership in which such Person is a general partner, except to the
extent that recourse against such general partner (as a general partner) has
been contractually waived or limited. Notwithstanding the foregoing, the term
"Indebtedness", in respect of the Company and its Subsidiaries, shall not
include (i) deferred compensation for officers and employees of the Company or
any of its Subsidiaries and (ii) trade payables incurred in the ordinary course
of business.

     "INDEMNIFIED TAXES" means Taxes other than Excluded Taxes.

     "INDENTURE" means the indenture dated as of March 1, 1986 between the
Company and JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank,
formerly known as Chemical Bank, successor by merger to The Chase Manhattan Bank
(National Association)), as trustee, as amended and supplemented prior to the
Effective Date.

     "INFORMATION MEMORANDUM" means the Confidential Information Memorandum
dated May 2002 relating to the Company and the Transactions.

     "INTERCOMPANY NOTE" means a promissory note evidencing loans or advances
made by the Company or any Subsidiary Guarantor to any Material Subsidiary that
is an Unrestricted Subsidiary.

     "INTEREST ELECTION REQUEST" means a request by the Borrower to convert or
continue a Revolving Borrowing in accordance with Section 2.07.

     "INTEREST PAYMENT DATE" means (a) with respect to any ABR Loan (other than
a Swingline Loan), the last day of each March, June, September and December, (b)
with respect to any Euro-Currency Loan, the last day of the Interest Period
applicable to the Borrowing of which such Loan is a part and, in the case of a
Euro-Currency Borrowing with an Interest Period of more than three months'
duration, each day prior to the last day of such Interest Period that occurs at
intervals of three months' duration after the first day of such Interest Period
and (c) with respect to any Swingline Loan, the day that such Loan is required
to be repaid.

     "INTEREST PERIOD" means, with respect to any Euro-Currency Borrowing, the
period commencing on the date of such Borrowing and ending on the numerically
corresponding day in the calendar month that is one, two, three or six months,
or (subject to the availability of matching deposits for such periods in the
London interbank market) nine or twelve months thereafter, as the Borrower may
elect; PROVIDED, that: (a) if any Interest Period would end on a day other than
a Euro-Currency Business Day, such Interest Period shall be extended to the next
succeeding Euro-Currency Business Day unless such next succeeding Euro-Currency
Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Euro-Currency Business Day; and (b) any
Interest Period pertaining to a Euro-

                                       11
<Page>

Currency Borrowing that commences on the last Euro-Currency Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last
Euro-Currency Business Day of the last calendar month of such Interest Period.
For purposes hereof, the date of a Borrowing initially shall be the date on
which such Borrowing is made and thereafter shall be the effective date of the
most recent conversion or continuation of such Borrowing.

     "ISSUING BANK" means JPMorgan Chase Bank, in its capacity as the issuer of
Letters of Credit hereunder, and its successors in such capacity as provided in
Section 2.05(j). The Issuing Bank may, in its discretion, arrange for one or
more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which
case the term "Issuing Bank" shall include any such Affiliate with respect to
Letters of Credit issued by such Affiliate.

     "LC DISBURSEMENT" means a payment made by the Issuing Bank pursuant to a
Letter of Credit.

     "LC EXPOSURE" means, at any time, the sum of (a) the aggregate Dollar
Amount of the undrawn amount of all outstanding Letters of Credit at such time
plus (b) the aggregate Dollar Amount of all LC Disbursements that have not yet
been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of
any Lender at any time shall be its Applicable Percentage of the total LC
Exposure at such time.

     "LENDERS" means the Persons listed on Schedule 2.01 and any other Person
that shall have become a party hereto pursuant to an Assignment and Assumption,
other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption. Unless the context otherwise requires, the term
"LENDERS" includes the Swingline Lender.

     "LETTER OF CREDIT" means any Existing Letter of Credit or Additional Letter
of Credit.

     "LIBO RATE" means, with respect to any Euro-Currency Borrowing for any
Interest Period, the rate appearing on the Screen at approximately 11:00 a.m.,
London time, two Euro-Currency Business Days prior to the commencement of such
Interest Period, as the rate for deposits in Dollars or the relevant Alternative
Currency with a maturity comparable to such Interest Period. In the event that
such rate is not available for such currency at such time for any reason, then
the "LIBO RATE" with respect to such Euro-Currency Borrowing for such Interest
Period shall be the rate at which deposits of the relevant currency with a
maturity comparable to such Interest Period are offered by the principal London
office of the Administrative Agent in immediately available funds in the London
interbank market at approximately 11:00 a.m., London time, two Euro-Currency
Business Days prior to the commencement of such Interest Period.

     "LIEN" means, with respect to any asset, (a) any mortgage, deed of trust,
lien, pledge, hypothecation, encumbrance, charge or security interest in or on
such asset, (b) the interest of a vendor or a lessor under any conditional sale
agreement, capital lease or title retention agreement (or any financing lease
having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of securities, any purchase option, call or
similar right of a third party with respect to such securities.

                                       12
<Page>

     "LOAN DOCUMENTS" means this Agreement and the Security Documents.

     "LOANS" means the loans made by the Lenders to the Borrowers pursuant to
this Agreement.

     "MATERIAL ADVERSE EFFECT" means a material adverse effect on (a) the
business, assets, operations, prospects or condition, financial or otherwise, of
the Company and the Subsidiaries taken as a whole, (b) the ability of the
Company in any material respect to perform any of its obligations under the Loan
Documents or (c) the rights of or benefits available to the Lenders under the
Loan Documents.

     "MATERIAL SUBSIDIARY" means each Subsidiary listed on Schedule 3.07 and
identified on such Schedule as a Material Subsidiary, and any other (a)
Unrestricted Subsidiary with total assets of more than $25,000,000 or (b)
Restricted Subsidiary with total assets of more than $100,000,000, in each case
calculated as of the last day of the most recent fiscal quarter of the Company
for which financial statements were delivered under Section 5.04.

     "MATURITY DATE" means November 5, 2005, or, if such day is not a
Euro-Currency Business Day, the next preceding Euro-Currency Business Day.

     "MOODY'S" means Moody's Investors Service, Inc.

     "MULTIEMPLOYER PLAN" means a multiemployer plan as defined in Section
4001(a)(3) of ERISA.

     "NET WORTH" means, at any date, (a) the sum of the Company's Consolidated
capital stock, additional contributed capital, earnings retained in the business
and any other account (less treasury stock) which, in accordance with GAAP,
constitutes Consolidated shareholders' investment (which does not include
minority interests of persons other than the Company and the Subsidiaries in
Subsidiaries); less (b) (i) all write-ups subsequent to September 29, 2002 in
the book value of any asset owned by the Company or its Subsidiaries (other than
purchase accounting adjustments in connection with assets acquired after
September 29, 2002) and (ii) cash held in a sinking or other analogous fund,
established for the purpose of redeeming, retiring or prepaying any capital
stock; PROVIDED, however, that in determining Net Worth the effect of (x) any
minimum pension liability adjustments pursuant to paragraph 37 of Statement of
Financial Accounting Standards No. 87 and (y) any foreign currency translation
adjustments shall be excluded.

     "ORIGINAL SUBSIDIARY BORROWER" means each of Cummins Engine Co. Ltd., a
company incorporated under the laws of England and Wales in the United Kingdom,
Cummins Power Generation Ltd., a company incorporated under the laws of England
and Wales in the United Kingdom, and Newage International Limited, a company
incorporated under the laws of England and Wales in the United Kingdom.

     "OTHER TAXES" means any and all present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies arising
from any payment made under any Loan Document or from the execution, delivery or
enforcement of, or otherwise with respect to, any Loan Document.

                                       13
<Page>

     "PARTICIPANT" has the meaning set forth in Section 12.04.

     "PARTICIPATING MEMBER STATES" means those members of the European Union
from time to time which adopt a single, shared currency.

     "PBGC" means the Pension Benefit Guaranty Corporation referred to and
defined in ERISA and any successor entity performing similar functions.

     "PERFECTION CERTIFICATE" means a certificate in the form of Exhibit E to
the Security Agreement or any other form approved by the Collateral Agent.

     "PERSON" means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority
or other entity.

     "PLAN" means any employee pension benefit plan (other than a Multiemployer
Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code
or Section 302 of ERISA, and in respect of which the Borrower or any ERISA
Affiliate is (or, if such plan were terminated, would under Section 4069 of
ERISA be deemed to be) an "employer" as defined in Section 3(5) of ERISA.

     "POUND STERLING" means the lawful currency of the United Kingdom.

     "PRICING SCHEDULE" means Schedule 1.01.

     "PRIME RATE" means the rate of interest per annum publicly announced from
time to time by JPMorgan Chase Bank as its prime rate in effect at its principal
office in New York City. Each change in the Prime Rate shall be effective from
and including the date such change is publicly announced as being effective.

     "PRIORITY INDEBTEDNESS" shall mean, at any time, without duplication, (i)
the aggregate principal amount of all Indebtedness of the Company and all the
Subsidiaries then outstanding which Indebtedness is secured by Liens on property
and assets of the Company or any Subsidiary (other than Indebtedness secured by
Liens described in paragraphs (a) through (k) of Section 6.01), (ii) the
Attributable Value at such time of all Sale and Lease-Back Transactions which
are restricted by Section 6.02 and (iii) the aggregate principal amount of all
Indebtedness of all the Subsidiaries then outstanding (other than (x)
Indebtedness hereunder, (y) Indebtedness of Subsidiaries payable to the Company
or any Wholly-Owned Consolidated Subsidiary and (z) any unsecured Guarantee of
Indebtedness under notes or bonds issued by the Company after the Effective
Date, which Indebtedness is not prohibited hereunder, by either (A) Material
Subsidiaries which are Unrestricted Subsidiaries acquired or formed after the
Effective Date, or (B) Universal Silencer, Inc., or their successors; PROVIDED
that the Collateral and Guarantee Requirement shall have been satisfied with
respect to such Material Subsidiary on or prior to the date on which such
Guarantee is given).

     "REGISTER" has the meaning set forth in Section 12.04.

     "REGULATION D" shall mean Regulation D of the Board, as the same is from
time to time in effect, and all official rulings and interpretations thereunder
or thereof.

                                       14
<Page>

     "REGULATION U" shall mean Regulation U of the Board, as from time to time
in effect, and all official rulings and interpretations thereunder or thereof.

     "REGULATION X" shall mean Regulation X of the Board, as from time to time
in effect, and all official rulings and interpretations thereunder or thereof.

     "RELATED PARTIES" means, with respect to any specified Person, such
Person's Affiliates and the respective directors, officers, employees, agents
and advisors of such Person and such Person's Affiliates.

     "REQUIRED LENDERS" means, at any time, Lenders having Revolving Credit
Exposures and unused Commitments representing more than 50% of the sum of the
total Revolving Credit Exposures and unused Commitments at such time.

     "RESTRICTED SUBSIDIARY" has the meaning set forth in the Indenture.

     "REVOLVING CREDIT EXPOSURE" means, with respect to any Lender at any time,
the sum of the outstanding Dollar Amount of such Lender's Revolving Loans and
the aggregate of its LC Exposure and Swingline Exposure at such time.

     "REVOLVING LOAN" means a Loan made pursuant to Section 2.03.

     "S&P" means Standard & Poor's.

     "SALE AND LEASE-BACK TRANSACTION" has the meaning set forth in Section
6.02.

     "SCREEN" means (a) with respect to Dollar-Denominated Loans, Telerate Page
3750 and (b) with respect to Alternative Currency Loans, the Telerate Page
selected by the Administrative Agent that displays rates for interbank deposits
in the appropriate Alternative Currency or, in the case of either (a) or (b),
any successor or substitute Telerate Page or any successor to or substitute
source for such rates, providing rate quotations comparable to those currently
provided on such Telerate Page, as determined by the Administrative Agent from
time to time for purposes of providing quotations of interest rates applicable
to deposits in the London interbank market.

     "SECURED GUARANTEE" has the meaning specified in Section 1 of the Security
Agreement.

     "SECURED OBLIGATIONS" has the meaning specified in Section 1 of the
Security Agreement.

     "SECURED PARTIES" has the meaning specified in Section 1 of the Security
Agreement.

     "SECURITIZATION FINANCING" means, at any date, the aggregate amount of
financing raised through securitization transactions by the Company and its
Consolidated Subsidiaries and outstanding at such date to the extent the same do
not give rise to Indebtedness of the Company or a Consolidated Subsidiary.

                                       15
<Page>

     "SECURITY AGREEMENT" means the Guarantee and Security Agreement among the
Credit Parties and the Collateral Agent, substantially in the form of Exhibit H.

     "SECURITY DOCUMENTS" means the Security Agreement and each other security
agreement, instrument or document executed and delivered pursuant to Section
5.10 or 5.11 to secure any of the Secured Obligations.

     "SIGNIFICANT SUBSIDIARY" means any Subsidiary (which term, as used in this
definition, includes such Subsidiary's subsidiaries) which meets any of the
following conditions:

     (i)     the Company's and the other Subsidiaries' investments in and
             advances to such Subsidiary exceed 10% of the Consolidated total
             assets of the Company as of the end of the most recently completed
             fiscal year of the Company for which financial statements have been
             delivered pursuant to Section 5.04(a);

     (ii)    the total assets (after intercompany eliminations) of such
             Subsidiary exceed 10% of the Consolidated total assets of the
             Company as of the end of the most recently completed fiscal year of
             the Company for which financial statements have been delivered
             pursuant to Section 5.04(a);

     (iii)   the net sales of such Subsidiary exceed 10% of the Consolidated net
             sales of the Company for the most recently completed fiscal year of
             the Company for which financial statements have been delivered
             pursuant to Section 5.04(a); or

     (iv)    such Subsidiary is deemed to be a Significant Subsidiary pursuant
             to Section 6.03(b)(i).

     "SPOT RATE" means, for any Alternative Currency on any day, the average of
the Administrative Agent's spot buying and selling rates for the exchange of
such Alternative Currency and Dollars as of approximately 11:00 A.M. (London
time) on such day.

     "STATUTORY RESERVE RATE" means a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number
one minus the aggregate of the maximum reserve percentages (including any
marginal, special, emergency or supplemental reserves) expressed as a decimal
established by the Board to which the Administrative Agent is subject for
eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in
Regulation D). Such reserve percentages shall include those imposed pursuant to
Regulation D. Euro-Currency Loans shall be deemed to constitute eurocurrency
funding and to be subject to such reserve requirements without benefit of or
credit for proration, exemptions or offsets that may be available from time to
time to any Lender under Regulation D or any comparable regulation. The
Statutory Reserve Rate shall be adjusted automatically on and as of the
effective date of any change in any reserve percentage.

     "SUBSIDIARY" means, with respect to any Person (herein referred to as the
"PARENT"), any corporation, association or other business entity (a) of which
securities or other ownership interests representing more than 50% of the
ordinary voting power are, at the time any determination is being made, owned,
controlled or held by the parent or one or more subsidiaries

                                       16
<Page>

of the parent or (b) which is, at the time any determination is made, otherwise
controlled (by contract or agreement or otherwise) by the parent or one or more
subsidiaries of the parent.

     "SUBSIDIARY" means any subsidiary of the Company; PROVIDED, HOWEVER, that
neither CDC nor any foreign joint venture in which the Company has the right to
designate the general manager of the joint venture shall be deemed to be a
subsidiary of the Company by reason solely of meeting the requirements of clause
(b) in the definition of the term "subsidiary" if, at the time of any such
determination, such entity is not included as a Consolidated subsidiary in the
Consolidated financial statements of the Company and its Consolidated
subsidiaries.

     "SUBSIDIARY GUARANTOR" has the meaning specified in Section 1 of the
Security Agreement.

     "SWAP AGREEMENT" means any agreement with respect to any swap, forward,
future or derivative transaction or option or similar agreement involving, or
settled by reference to, one or more rates, currencies, commodities, equity or
debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar
transaction or any combination of these transactions; PROVIDED that no phantom
stock or similar plan providing for payments only on account of services
provided by current or former directors, officers, employees or consultants of
the Company or the Subsidiaries shall be a Swap Agreement.

     "SWINGLINE EXPOSURE" means, at any time, the aggregate Dollar Amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender
at any time shall be its Applicable Percentage of the total Swingline Exposure
at such time.

     "SWINGLINE LENDER" means JPMorgan Chase Bank, in its capacity as lender of
Swingline Loans hereunder.

     "SWINGLINE LENDING OFFICE" means, as to the Swingline Lender, its office
located at its address set forth in its Administrative Questionnaire (or
identified in its Administrative Questionnaire as its Swingline Lending Office)
or such other office as such Lender may hereafter designate as its Swingline
Lending Office by notice to the Company and the Administrative Agent.

     "SWINGLINE LOAN" means a Loan made pursuant to Section 2.04.

     "SYNDICATION AGENT" means Citicorp USA, Inc., in its capacity as
syndication agent in respect of this Agreement.

     "TAXES" means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

     "TRANSACTION LIENS" means Liens on Collateral granted by the Company and
the Subsidiary Guarantors under the Security Documents.

                                       17
<Page>

     "TRANSACTIONS" means the execution, delivery and performance by the Credit
Parties of the Loan Documents, the borrowing of Loans, the use of the proceeds
thereof and the issuance of Letters of Credit hereunder.

     "TYPE", when used in reference to any Loan or Borrowing, refers to whether
the rate of interest on such Loan, or on the Loans comprising such Borrowing, is
determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

     "UNITED STATES" means the United States of America, including the States
thereof and the District of Columbia, but excluding its territories and
possessions.

     "UNRESTRICTED SUBSIDIARY" has the meaning set forth in the Indenture.

     "WHOLLY-OWNED CONSOLIDATED SUBSIDIARY" means any Consolidated Subsidiary
all of the shares of capital stock or other ownership interests of which (except
directors' qualifying shares) are at the time owned by the Company or one or
more Wholly-Owned Consolidated Subsidiaries.

     "WITHDRAWAL LIABILITY" means liability to a Multiemployer Plan as a result
of a complete or partial withdrawal from such Multiemployer Plan, as such terms
are defined in Part I of Subtitle E of Title IV of ERISA.

     Section 1.02. CLASSIFICATION OF LOANS AND BORROWINGS. For purposes of this
Agreement, Loans may be classified and referred to by Class (E.G., a "REVOLVING
LOAN") or by Type (E.G., a "ABR LOAN") or by Class and Type (E.G., a "ABR
REVOLVING LOAN"). Borrowings also may be classified and referred to by Class
(E.G., a "REVOLVING BORROWING") or by Type (E.G., a "ABR BORROWING") or by Class
and Type (E.G., a "ABR REVOLVING BORROWING").

     Section 1.03. TERMS GENERALLY. The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined. Whenever the
context may require, any pronoun shall include the corresponding masculine,
feminine and neuter forms. The words "include", "includes" and "including" shall
be deemed to be followed by the phrase "without limitation". The word "will"
shall be construed to have the same meaning and effect as the word "shall" and
the word "permit" shall be construed to have the same meaning and effect as the
word "suffer". Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from
time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein),
(b) any reference herein to any Person shall be construed to include such
Person's successors and assigns, (c) the words "herein", "hereof" and
"hereunder", and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all
references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement and (e) the words "asset" and "property" shall be construed to
have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and
contract rights.

                                       18
<Page>

     Section 1.04. ACCOUNTING TERMS; GAAP. Unless otherwise specified herein,
all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to
be delivered hereunder shall be prepared in accordance with GAAP; PROVIDED that,
if the Company notifies the Administrative Agent that the Company wishes to
amend any provision hereof to eliminate the effect of any change in GAAP (or if
the Administrative Agent notifies the Company that the Required Lenders wish to
amend any provision hereof for such purpose), then such provision shall be
applied on the basis of GAAP in effect immediately before the relevant change in
GAAP became effective, until either such notice is withdrawn or such provision
is amended in a manner satisfactory to the Company and the Required Lenders.

                                    ARTICLE 2
                                   THE CREDITS

     Section 2.01. COMMITMENTS. Subject to the terms and conditions set forth
herein, each Lender agrees to make Revolving Loans denominated in Dollars or in
an Alternative Currency as the Borrower elects pursuant to Section 2.03 to the
Borrower from time to time during the Availability Period; PROVIDED that,
immediately after each such Loan is made, (x) the amount of each Lender's
Revolving Credit Exposure shall not exceed such Lender's Commitment and (y) the
aggregate Revolving Credit Exposure of the Lenders to all Borrowers other than
the Company shall not exceed $60,000,000. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow,
prepay and reborrow Revolving Loans.

     Section 2.02. LOANS AND BORROWINGS. (a) Each Revolving Loan shall be made
as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably
in accordance with their respective Commitments. The failure of any Lender to
make any Loan required to be made by it shall not relieve any other Lender of
its obligations hereunder; PROVIDED that the Commitments of the Lenders are
several and no Lender shall be responsible for any other Lender's failure to
make Loans as required.

     (b)  Subject to Section 2.13, each Revolving Borrowing shall be comprised
entirely of ABR Loans or Euro-Currency Loans as the Borrower may request in
accordance herewith. Each Lender at its option may make any Euro-Currency Loan
by causing any domestic or foreign branch or Affiliate of such Lender to make
such Loan; PROVIDED that any exercise of such option shall not affect the
obligation of the Borrower to repay such Loan in accordance with the terms of
this Agreement.

     (c)  At the time that any Revolving Borrowing is made, such Borrowing
shall be in an aggregate Dollar Amount that is not less than $10,000,000 and, in
the case of a Dollar-Denominated Borrowing, an integral multiple of $1,000,000;
PROVIDED that an ABR Revolving Borrowing may be in an aggregate amount that is
equal to the entire unused balance of the total Commitments or that is required
to finance the reimbursement of an LC Disbursement as contemplated by Section
2.05(f). Each Swingline Loan shall be in an amount that is an integral multiple
of $100,000 and not less than $500,000. Borrowings of more than one Type and
Class may be outstanding at the same time; PROVIDED that there shall not at any
time be more than a total of six Euro-Currency Borrowings outstanding.

                                       19
<Page>

     (d)  Notwithstanding any other provision of this Agreement, the Borrower
shall not be entitled to request, or to elect to convert or continue, any
Borrowing if the Interest Period requested with respect thereto would end after
the Maturity Date.

     Section 2.03. REQUESTS FOR REVOLVING BORROWINGS. To request a Revolving
Borrowing, the Borrower shall notify the Administrative Agent of such request by
telephone (a) in the case of a Euro-Dollar Borrowing, not later than 11:00 a.m.,
New York City time, three Euro-Dollar Business Days before the date of the
proposed Borrowing, (b) in the case of an Alternative Currency Borrowing, at its
London office not later than 11:00 a.m. London time, three Euro-Currency
Business Days before the date of the proposed Borrowing or (c) in the case of an
ABR Borrowing, not later than 11:00 a.m., New York City time, one Domestic
Business Day before the date of the proposed Borrowing; PROVIDED that any such
notice of an ABR Revolving Borrowing to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.05(f) may be given not later than
10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such
telephonic Borrowing Request shall be irrevocable and shall be confirmed
promptly by hand delivery or facsimile to the Administrative Agent of a written
Borrowing Request in a form approved by the Administrative Agent and signed by
the Borrower. Each such telephonic and written Borrowing Request shall specify
the following information in compliance with Section 2.02:

          (i)    the currency and the aggregate amount (in such currency) of the
     requested Borrowing;

          (ii)   the date of such Borrowing, which shall be a Domestic Business
     Day in the case of an ABR Revolving Borrowing and a Euro-Currency Business
     Day in the case of a Euro-Currency Borrowing;

          (iii)  in the case of a Revolving Borrowing in Dollars, whether such
     Borrowing is to be an ABR Borrowing or a Euro-Dollar Borrowing;

          (iv)   in the case of a Euro-Currency Borrowing, the initial Interest
     Period to be applicable thereto, which shall be a period contemplated by
     the definition of the term "Interest Period"; and

          (v)    the location and number of the Borrower's account to which
     funds are to be disbursed, which shall comply with the requirements of
     Section 2.06.

If no election as to the Type of Revolving Borrowing is specified, then the
requested Revolving Borrowing shall be an ABR Borrowing. If no Interest Period
is specified with respect to any requested Euro-Currency Borrowing, then the
Borrower shall be deemed to have selected an Interest Period of one month's
duration. Promptly following receipt of a Borrowing Request in accordance with
this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender's Loan to be made as part of the
requested Borrowing.

     Section 2.04. SWINGLINE LOANS. (a) Subject to the terms and conditions set
forth herein, the Swingline Lender agrees to make Swingline Loans to the Company
in Dollars from time to time during the Availability Period, in an aggregate
principal amount at any time outstanding that will not result in (i) the
aggregate principal amount of outstanding Swingline Loans

                                       20
<Page>

exceeding $50,000,000 or (ii) the total Revolving Credit Exposures of all
Lenders exceeding the total Commitments; PROVIDED that the Swingline Lender
shall not be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Within the foregoing limits and subject to the terms and
conditions set forth herein, the Company may borrow, prepay and reborrow
Swingline Loans.

     (b)  To request a Swingline Loan, the Company shall notify the
Administrative Agent of such request by telephone (confirmed by facsimile), not
later than 2:00 p.m., New York City time, on the day of a proposed Swingline
Loan. Each such notice shall be irrevocable and shall specify the requested date
(which shall be a Domestic Business Day) and amount of the requested Swingline
Loan. The Administrative Agent will promptly advise the Swingline Lender of any
such notice received from the Company. The Swingline Lender shall make each
Swingline Loan available to the Company by means of a credit to the general
deposit account of the Company with the Swingline Lender (or, in the case of a
Swingline Loan made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(f), by remittance to the Issuing Bank) by 4:00 p.m.,
New York City time, on the requested date of such Swingline Loan.

     (c)  The Swingline Lender may by written notice given to the Administrative
Agent not later than 10:00 a.m., New York City time, on any Domestic Business
Day require the Lenders to acquire participations on such Domestic Business Day
in all or a portion of the Swingline Loans outstanding. Such notice shall
specify the aggregate amount of Swingline Loans in which Lenders will
participate. Promptly upon receipt of such notice, the Administrative Agent will
give notice thereof to each Lender, specifying in such notice such Lender's
Applicable Percentage of such Swingline Loan or Swingline Loans. Each Lender
hereby absolutely and unconditionally agrees, upon receipt of notice as provided
above, to pay to the Administrative Agent, for the account of the Swingline
Lender, such Lender's Applicable Percentage of such Swingline Loan or Swingline
Loans. Each Lender acknowledges and agrees that its obligation to acquire
participations in Swingline Loans pursuant to this paragraph is absolute and
unconditional and shall not be affected by any circumstance whatsoever,
including the occurrence and continuance of a Default or reduction or
termination of the Commitments, and that each such payment shall be made without
any offset, abatement, withholding or reduction whatsoever. Each Lender shall
comply with its obligation under this paragraph by wire transfer of immediately
available funds, in the same manner as provided in Section 2.06 with respect to
Loans made by such Lender (and Section 2.06 shall apply, MUTATIS MUTANDIS, to
the payment obligations of the Lenders), and the Administrative Agent shall
promptly pay to the Swingline Lender the amounts so received by it from the
Lenders. The Administrative Agent shall notify the Company of any participations
in any Swingline Loan acquired pursuant to this paragraph, and thereafter
payments in respect of such Swingline Loan shall be made to the Administrative
Agent and not to the Swingline Lender. Any amounts received by the Swingline
Lender from the Company (or other party on behalf of the Company) in respect of
a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale
of participations therein shall be promptly remitted to the Administrative
Agent; any such amounts received by the Administrative Agent shall be promptly
remitted by the Administrative Agent to the Lenders that shall have made their
payments pursuant to this paragraph and to the Swingline Lender, as their
interests may appear; PROVIDED that any such payment so remitted shall be repaid
to the Swingline Lender or to the Administrative Agent, as applicable, if and to
the extent such payment is required to be

                                       21
<Page>

refunded to the Company for any reason. The purchase of participations in a
Swingline Loan pursuant to this paragraph shall not relieve the Company of any
default in the payment thereof.

     Section 2.05. LETTERS OF CREDIT. (a) EXISTING LETTERS OF CREDIT. On the
Effective Date, without further action by any party hereto, the Issuing Bank
shall be deemed to have granted to each Lender, and each Lender shall be deemed
to have acquired from the Issuing Bank, a participation in each Existing Letter
of Credit equal to such Lender's Applicable Percentage of (i) the aggregate
amount available to be drawn thereunder and (ii) the aggregate unpaid amount of
any outstanding reimbursement obligations in respect thereof. Such
participations shall be on all the same terms and conditions as participations
granted in Additional Letters of Credit under Section 2.05(e).

     (b)  GENERAL. Subject to the terms and conditions set forth herein, any
Borrower may request the issuance of Additional Letters of Credit denominated in
Dollars or in an Alternative Currency for its own account in a form acceptable
to the Administrative Agent and the Issuing Bank, at any time and from time to
time during the Availability Period. In the event of any inconsistency between
the terms and conditions of this Agreement and the terms and conditions of any
form of letter of credit application or other agreement submitted by the
Borrower to, or entered into by the Borrower with, the Issuing Bank relating to
any Additional Letter of Credit, the terms and conditions of this Agreement
shall control.

     (c)  NOTICE OF ISSUANCE, AMENDMENT, RENEWAL, EXTENSION; CERTAIN CONDITIONS.
To request the issuance of an Additional Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the Borrower shall
hand deliver or facsimile (or transmit by electronic communication, if
arrangements for doing so have been approved by the Issuing Bank) to the Issuing
Bank and the Administrative Agent (reasonably in advance of the requested date
of issuance, amendment, renewal or extension) a notice requesting the issuance
of an Additional Letter of Credit, or identifying the Letter of Credit to be
amended, renewed or extended, and specifying the date of issuance, amendment,
renewal or extension (which shall be a Euro-Currency Business Day), the date on
which such Letter of Credit is to expire (which shall comply with paragraph (d)
of this Section), the currency and amount in such currency of such Additional
Letter of Credit, the name and address of the beneficiary thereof and such other
information as shall be necessary to prepare, amend, renew or extend such Letter
of Credit. If requested by the Issuing Bank, the Borrower also shall submit a
letter of credit application on the Issuing Bank's standard form in connection
with any request for a Letter of Credit. A Letter of Credit shall be issued,
amended, renewed or extended only if (and upon issuance, amendment, renewal or
extension of each Letter of Credit the Borrower shall be deemed to represent and
warrant that), after giving effect to such issuance, amendment, renewal or
extension (i) the LC Exposure shall not exceed $150,000,000, (ii) the aggregate
Revolving Credit Exposure of the Lenders to all Borrowers other than the Company
shall not exceed $60,000,000 and (iii) the total Revolving Credit Exposures of
all Lenders shall not exceed the total Commitments.

     (d)  EXPIRATION DATE. Each Letter of Credit shall expire at or prior to the
close of business on the earlier of (i) the date one year after the date of the
issuance of such Additional Letter of Credit or, in the case of any renewal or
extension thereof, one year after such renewal or extension (or, if any such day
is not a Euro-Currency Business Day, the next preceding Euro-Currency Business
Day) and (ii) the date that is five Euro-Currency Business Days prior to the

                                       22
<Page>

Maturity Date. The expiry date of any Letter of Credit may be extended from time
to time (i) at the Borrower's request in accordance with (c) above or (ii) in
the case of an Evergreen Letter of Credit, automatically, in each case so long
as such extension is for a period not exceeding one year, does not extend beyond
the date referred to in clause (ii) of the immediately preceding sentence and is
granted (or the last day on which notice can be given to prevent such extension
occurs) no earlier than three months before the then existing expiry date
thereof.

     (e)  PARTICIPATIONS. By the issuance of an Additional Letter of Credit (or
an amendment to a Letter of Credit increasing the amount thereof) and without
any further action on the part of the Issuing Bank or the Lenders, the Issuing
Bank hereby grants to each Lender, and each Lender hereby acquires from the
Issuing Bank, a participation in such Letter of Credit equal to such Lender's
Applicable Percentage of the aggregate amount available to be drawn under such
Letter of Credit. In consideration and in furtherance of the foregoing, each
Lender hereby absolutely and unconditionally agrees to pay to the Administrative
Agent, for the account of the Issuing Bank in the applicable currency, such
Lender's Applicable Percentage of each LC Disbursement made by the Issuing Bank
and not reimbursed by the Borrower on the date due as provided in paragraph (f)
of this Section, or of any reimbursement payment required to be refunded to the
Borrower for any reason. Each Lender acknowledges and agrees that its obligation
to acquire participations pursuant to this paragraph in respect of Letters of
Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any
Letter of Credit or the occurrence and continuance of a Default or reduction or
termination of the Commitments, and that each such payment shall be made without
any offset, abatement, withholding or reduction whatsoever.

     (f)  REIMBURSEMENT. If the Issuing Bank shall make any LC Disbursement in
respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement
by paying to the Administrative Agent an amount equal to such LC Disbursement in
the currency of such LC Disbursement (i) if such LC Disbursement shall have been
denominated in Dollars, not later than 2:00 p.m., New York City time, on the
date that such LC Disbursement is made, if the Borrower shall have received
notice of such LC Disbursement prior to 9:00 a.m., New York City time, on such
date, or, if such notice has not been received by the Borrower prior to such
time on such date, then not later than 2:00 p.m., New York City time, on (x) the
Domestic Business Day that the Borrower receives such notice, if such notice is
received prior to 9:00 a.m., New York City time, on the day of receipt or (y)
the Domestic Business Day immediately following the day that the Borrower
receives such notice, if such notice is not received prior to such time on the
day of receipt and (ii) if such LC Disbursement shall have been denominated in
an Alternative Currency, not later than 12:00 noon, London time, on the
Euro-Currency Business Day following the date that such LC Disbursement is made,
if the Borrower shall have received notice of such LC Disbursement prior to 4:00
p.m., London time, on the date such LC Disbursement is made, or, if such notice
has not been received by the Borrower prior to such time on such date, then not
later than 12:00 noon, London time, on (x) the Euro-Currency Business Day
following the date that the Borrower receives such notice, if such notice is
received prior to 4:00 p.m., London time, on the day of receipt or (y) the
second Euro-Currency Business Day immediately following the day that the
Borrower receives such notice, if such notice is not received prior to such time
on the day of receipt; PROVIDED that the Borrower may, subject to the conditions
to borrowing set forth herein, request in accordance with Section 2.03 or 2.04
that such payment be financed with (A) in the case of LC Disbursements
denominated in Dollars, an ABR Revolving Borrowing (of

                                       23
<Page>

not less than $10,000,000) or a Swingline Loan (of not less than $500,000) in an
equivalent Dollar amount and (B) in the case of LC Disbursements denominated in
an Alternative Currency, a Euro-Currency Borrowing for an equivalent amount in
such currency and, to the extent so financed, the Borrower's obligation to make
such payment shall be discharged and replaced by the resulting ABR Revolving
Borrowing or Swingline Loan or Euro-Currency Loan. If the Borrower fails to make
such payment when due, the Administrative Agent shall notify each Lender of the
applicable LC Disbursement, the payment then due from the Borrower in respect
thereof and such Lender's Applicable Percentage thereof. Promptly following
receipt of such notice, each Lender shall pay to the Administrative Agent its
Applicable Percentage of the payment then due from the Borrower, in the same
manner as provided in Section 2.06 with respect to Loans made by such Lender
(and Section 2.06 shall apply, MUTATIS MUTANDIS, to the payment obligations of
the Lenders), and the Administrative Agent shall promptly pay to the Issuing
Bank the amounts so received by it from the Lenders. Promptly following receipt
by the Administrative Agent of any payment from the Borrower pursuant to this
paragraph, the Administrative Agent shall distribute such payment to the Issuing
Bank or, to the extent that Lenders have made payments pursuant to this
paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing
Bank as their interests may appear. Any payment made by a Lender pursuant to
this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than
the funding of ABR Revolving Loans or a Swingline Loan as contemplated above)
shall not constitute a Loan and shall not relieve the Borrower of its obligation
to reimburse such LC Disbursement.

     (g)  OBLIGATIONS ABSOLUTE. The Borrower's obligation to reimburse LC
Disbursements as provided in paragraph (f) of this Section shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance
with the terms of this Agreement under any and all circumstances whatsoever and
irrespective of (i) any lack of validity or enforceability of any Letter of
Credit or this Agreement, or any term or provision therein, (ii) any draft or
other document presented under a Letter of Credit proving to be forged,
fraudulent or invalid in any respect or any statement therein being untrue or
inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of
Credit against presentation of a draft or other document that does not comply
with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for
the provisions of this Section, constitute a legal or equitable discharge of, or
provide a right of setoff against, the Borrower's obligations hereunder. Neither
the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their
Related Parties, shall have any liability or responsibility by reason of or in
connection with the issuance or transfer of any Letter of Credit or any payment
or failure to make any payment thereunder (irrespective of any of the
circumstances referred to in the preceding sentence), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or
other communication under or relating to any Letter of Credit (including any
document required to make a drawing thereunder), any error in interpretation of
technical terms or any consequence arising from causes beyond the control of the
Issuing Bank; PROVIDED that the foregoing shall not be construed to excuse the
Issuing Bank from liability to the Borrower to the extent of any direct damages
(as opposed to consequential damages, claims in respect of which are hereby
waived by the Borrower to the extent permitted by applicable law) suffered by
the Borrower that are caused by the Issuing Bank's failure to exercise care when
determining whether drafts and other documents presented under a Letter of
Credit comply with the terms thereof. The parties hereto expressly agree that,
in the absence of gross negligence or

                                       24
<Page>

willful misconduct on the part of the Issuing Bank (as finally determined by a
court of competent jurisdiction), the Issuing Bank shall be deemed to have
exercised care in each such determination. In furtherance of the foregoing and
without limiting the generality thereof, the parties agree that, with respect to
documents presented which appear on their face to be in substantial compliance
with the terms of a Letter of Credit, the Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without
responsibility for further investigation, regardless of any notice or
information to the contrary, or refuse to accept and make payment upon such
documents if such documents are not in strict compliance with the terms of such
Letter of Credit.

     (h)  DISBURSEMENT PROCEDURES. The Issuing Bank shall, promptly following
its receipt thereof, examine all documents purporting to represent a demand for
payment under a Letter of Credit. The Issuing Bank shall promptly notify the
Administrative Agent and the Borrower by telephone (confirmed by facsimile) of
such demand for payment and whether the Issuing Bank has made or will make an LC
Disbursement thereunder; PROVIDED that any failure to give or delay in giving
such notice shall not relieve the Borrower of its obligation to reimburse the
Issuing Bank and the Lenders with respect to any such LC Disbursement.

     (i)  INTERIM INTEREST. If the Issuing Bank shall make any LC Disbursement,
then, unless the Borrower shall reimburse such LC Disbursement in full on the
date such LC Disbursement is made, the unpaid amount thereof shall bear
interest, for each day from and including the date such LC Disbursement is made
to but excluding the date that the Borrower reimburses such LC Disbursement, (i)
if such amount is denominated in Dollars, at the rate per annum then applicable
to ABR Revolving Loans, (ii) if such amount is denominated in an Alternative
Currency, at the rate per annum equal to the sum of the Applicable Rate with
respect to Euro-Currency Loans plus the rate per annum at which one-day deposits
in relevant currency in an amount approximately equal to such unpaid amount are
offered by the principal London office of the Administrative Agent in the London
Interbank market for such day; PROVIDED that, if the Borrower fails to reimburse
such LC Disbursement when due pursuant to paragraph (f) of this Section, then
Section 2.12(d) shall apply. Interest accrued pursuant to this paragraph shall
be for the account of the Issuing Bank, except that interest accrued on and
after the date of payment by any Lender pursuant to paragraph (f) of this
Section to reimburse the Issuing Bank shall be for the account of such Lender to
the extent of such payment.

     (j)  REPLACEMENT OF THE ISSUING BANK. The Issuing Bank may be replaced at
any time by written agreement among the Borrower, the Administrative Agent, the
replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent
shall notify the Lenders of any such replacement of the Issuing Bank. At the
time any such replacement shall become effective, the Borrower shall pay all
unpaid fees accrued for the account of the replaced Issuing Bank pursuant to
Section 2.11(b). From and after the effective date of any such replacement, (i)
the successor Issuing Bank shall have all the rights and obligations of the
Issuing Bank under this Agreement with respect to Letters of Credit to be issued
thereafter and (ii) references herein to the term "Issuing Bank" shall be deemed
to refer to such successor or to any previous Issuing Bank, or to such successor
and all previous Issuing Banks, as the context shall require. After the
replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain
a party hereto and shall continue to have all the rights and obligations of an
Issuing Bank under this Agreement

                                       25
<Page>

with respect to Letters of Credit issued by it prior to such replacement, but
shall not be required to issue additional Letters of Credit.

     (k)  CASH COLLATERALIZATION. If any Event of Default shall occur and be
continuing, on the Domestic Business Day that the Company receives notice from
the Administrative Agent on behalf of the Required Lenders (or, if the maturity
of the Loans has been accelerated, Lenders with LC Exposure representing greater
than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Company shall deposit in its Cash Collateral
Account an amount in cash in the relevant currency equal to the LC Exposure as
of such date plus any accrued and unpaid interest thereon; PROVIDED that the
obligation to deposit such cash collateral will become effective immediately,
and such deposit will become immediately due and payable, without demand or
other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower described in clause (g) or (h) of Article 8. Any amount
so deposited (including any earnings thereon) will be withdrawn from the
Company's Cash Collateral Account by the Collateral Agent and applied to
reimburse LC Disbursements as they become due; PROVIDED that (i) if at any time
all Events of Default have been cured or waived, such amount (to the extent not
theretofore so applied) will be returned to the Company upon its request and
(ii) if at any time the maturity of the Loans has been accelerated, such amount
(to the extent no theretofore so applied or returned) will be applied to pay the
Secured Obligations as provided in Section 18 of the Security Agreement.

     Section 2.06. FUNDING OF BORROWINGS. (a) Each Lender shall make each Loan
to be made by it hereunder on the proposed date thereof:

          (i)    if such Borrowing is to be made in Dollars, not later than
     12:00 Noon (New York City time), in funds immediately available in New York
     City, to the account of the Administrative Agent most recently designated
     for such purpose by notice to the Lenders; PROVIDED that Swingline Loans
     shall be made as provided in Section 2.04; or

          (ii)   if such Borrowing is to be made in an Alternative Currency, not
     later than 12:00 Noon (London time), in such Alternative Currency (in such
     funds as may then be customary for the settlement of international
     transactions in such Alternative Currency) to the account of the
     Administrative Agent as shall have most recently been designated by the
     Administrative Agent for such purpose by notice to the Lenders.

     The Administrative Agent will make such Loans available to the Borrower by
promptly crediting the amounts so received, in like funds, to an account of the
Borrower designated by the Borrower in the applicable Borrowing Request;
PROVIDED that Loans made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(f) shall be remitted by the Administrative Agent to the
Issuing Bank.

     (b)  Unless the Administrative Agent shall have received notice from a
Lender prior to the proposed date of any Borrowing that such Lender will not
make available to the Administrative Agent such Lender's share of such
Borrowing, the Administrative Agent may assume that such Lender has made such
share available on such date in accordance with paragraph (a) of this Section
and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share
of

                                       26
<Page>

the applicable Borrowing available to the Administrative Agent, then the
applicable Lender and the Borrower severally agree to pay to the Administrative
Agent forthwith on demand such corresponding amount with interest thereon, for
each day from and including the date such amount is made available to the
Borrower to but excluding the date of payment to the Administrative Agent, at
the Federal Funds Effective Rate (if such amount was distributed in Dollars) or
the rate per annum at which one-day deposits in the relevant currency are
offered by the principal London office of the Administrative Agent in the London
interbank market (if such amount was distributed in an Alternative Currency).

     Section 2.07. INTEREST ELECTIONS. (a) Each Dollar-Denominated Revolving
Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Euro-Dollar Borrowing, shall have an initial
Interest Period as specified in such Borrowing Request. Thereafter, the Borrower
may elect to convert such Borrowing to a different Type or to continue such
Borrowing and, in the case of a Euro-Dollar Borrowing, may elect Interest
Periods therefor, all as provided in this Section. The Borrower may elect
different options with respect to different portions of the affected Borrowing,
in which case each such portion shall be allocated ratably among the Lenders
holding the Loans comprising such Borrowing, and the Loans comprising each such
portion shall be considered a separate Borrowing. This Section shall not apply
to Swingline Borrowings, which may not be converted or continued.

     (b)  To make an election pursuant to Section 2.07(a), the Borrower shall
notify the Administrative Agent of such election by telephone by the time that a
Borrowing Request would be required under Section 2.03 if the Borrower were
requesting a Dollar-Denominated Loan of the Type resulting from such election to
be made on the effective date of such election. Each such telephonic Interest
Election Request shall be irrevocable and shall be confirmed promptly by hand
delivery or facsimile to the Administrative Agent of a written Interest Election
Request in a form approved by the Administrative Agent and signed by the
Borrower.

     (c)  Each telephonic and written Interest Election Request shall specify
the following information in compliance with Section 2.02:

          (i)    the Borrowing to which such Interest Election Request applies
     and, if different options are being elected with respect to different
     portions thereof, the portions thereof to be allocated to each resulting
     Borrowing (in which case the information to be specified pursuant to
     paragraphs (iii) and (iv) below shall be specified for each resulting
     Borrowing);

          (ii)   the effective date of the election made pursuant to such
     Interest Election Request, which shall be a Domestic Business Day in the
     case of an ABR Borrowing and a Euro-Dollar Business Day in the case of a
     Euro-Dollar Borrowing;

          (iii)  whether the resulting Borrowing is to be an ABR Borrowing or a
     Euro-Dollar Borrowing; and

          (iv)   if the resulting Borrowing is a Euro-Dollar Borrowing, the
     Interest Period to be applicable thereto after giving effect to such
     election, which shall be a period contemplated by the definition of the
     term "Interest Period".

                                       27
<Page>

If any such Interest Election Request requests a Euro-Dollar Borrowing but does
not specify an Interest Period, then the Borrower shall be deemed to have
selected an Interest Period of one month's duration.

     (d)  Promptly following receipt of an Interest Election Request, the
Administrative Agent shall advise each Lender of the details thereof and of such
Lender's portion of each resulting Borrowing.

     (e)  If the Borrower fails to deliver a timely Interest Election Request
with respect to a Euro-Dollar Borrowing prior to the end of the Interest Period
applicable thereto, then, unless such Borrowing is repaid as provided herein, at
the end of such Interest Period such Borrowing shall be converted to an ABR
Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default
has occurred and is continuing and the Administrative Agent, at the request of
the Required Lenders, so notifies the Borrower, then, so long as an Event of
Default is continuing (i) no outstanding Revolving Borrowing may be converted to
or continued as a Euro-Dollar Borrowing and (ii) unless repaid, each Euro-Dollar
Borrowing shall be converted to an ABR Borrowing at the end of the Interest
Period applicable thereto.

     (f)  Each Alternative Currency Loan shall have an initial Interest Period
as specified in the applicable Borrowing Request. Thereafter, the Borrower may
elect to continue such Borrowing and may elect Interest Periods therefore, by
notifying the Administrative Agent of such election by telephone by the time and
at the office that a Borrowing Request would be required under Section 2.03 if
the Borrower were requesting an Alternative Currency Loan to be made on the
effective date of such election. The Borrower may elect different options with
respect to different portions of the affected Borrowing, in which case each such
portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be
considered a separate Borrowing. Promptly following receipt of such Interest
Election Request the Administrative Agent shall advise each Lender of the
details thereof and of such Lender's portion of each resulting Borrowing. If the
Borrower fails to deliver a timely Interest Election Request with respect to an
Alternative Currency Borrowing prior to the end of the Interest Period
applicable thereto, or any Interest Election Request fails to specify an
Interest Period, then unless such Borrowing is repaid as provided herein, the
Borrower shall be deemed to have elected a subsequent Interest Period of one
month's duration.

     Section 2.08. TERMINATION AND REDUCTION OF COMMITMENTS. (a) Unless
previously terminated, the Commitments shall terminate on the Maturity Date.

     (b)  The Company may at any time terminate, or from time to time reduce,
the Commitments; PROVIDED that (i) each reduction of the Commitments shall be in
an amount that is an integral multiple of $5,000,000 and not less than
$10,000,000 and (ii) the Company shall not terminate or reduce the Commitments
if, after giving effect to any concurrent prepayment of the Loans in accordance
with Section 2.10, the total Revolving Credit Exposures of all Lenders would
exceed the total Commitments.

     (c)  The Company shall notify the Administrative Agent of any election to
terminate or reduce the Commitments under paragraph (b) of this Section at least
five Domestic Business

                                       28
<Page>

Days prior to the effective date of such termination or reduction, specifying
such election and the effective date thereof. Promptly following receipt of any
notice, the Administrative Agent shall advise the Lenders of the contents
thereof. Each notice delivered by the Company pursuant to this Section shall be
irrevocable; PROVIDED that a notice of termination of the Commitments delivered
by the Company may state that such notice is conditioned upon the effectiveness
of other credit facilities, in which case such notice may be revoked by the
Company (by notice to the Administrative Agent on or prior to the specified
effective date) if such condition is not satisfied. Any termination or reduction
of the Commitments shall be permanent. Each reduction of the Commitments shall
be made ratably among the Lenders in accordance with their respective
Commitments.

     Section 2.09. REPAYMENT OF LOANS; EVIDENCE OF DEBT. (a) The Borrower hereby
unconditionally promises to pay (i) to the Administrative Agent for the account
of each Lender the then unpaid principal amount of each Revolving Loan on the
Maturity Date, and (ii) to the Swingline Lender the then unpaid principal amount
of each Swingline Loan on the earlier of the Maturity Date and the date which is
15 Domestic Business Days after such Swingline Loan is made.

     (b)  Each Lender shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender
resulting from each Loan made by such Lender, including the amounts of principal
and interest payable and paid to such Lender from time to time hereunder.

     (c)  The Administrative Agent shall maintain accounts in which it shall
record (i) the currency and amount of each Loan made hereunder, the Class and
Type thereof and the Interest Period applicable thereto, (ii) the amount of any
principal or interest due and payable or to become due and payable from the
Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each
Lender's share thereof.

     (d)  The entries made in the accounts maintained pursuant to paragraph (b)
or (c) of this Section shall be PRIMA FACIE evidence of the existence and
amounts of the obligations recorded therein; PROVIDED that the failure of any
Lender or the Administrative Agent to maintain such accounts or any error
therein shall not in any manner affect the obligation of the Borrowers to repay
the Loans in accordance with the terms of this Agreement.

     (e)  Any Lender may request that Loans made by it to any Borrower be
evidenced by a promissory note. In such event, such Borrower shall prepare,
execute and deliver to such Lender a promissory note payable to the order of
such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent and the Borrower.
Thereafter, the Loans evidenced by such promissory note and interest thereon
shall at all times (including after assignment pursuant to Section 12.04) be
represented by one or more promissory notes in such form payable to the order of
the payee named therein (or, if such promissory note is a registered note, to
such payee and its registered assigns).

                                       29
<Page>

     Section 2.10. PREPAYMENT OF LOANS. (a) The Borrower shall have the right at
any time and from time to time to prepay any Borrowing in whole or in part,
subject to prior notice in accordance with paragraph (b) of this Section.

     (b)  The Borrower shall notify the Administrative Agent (and, in the case
of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed
by facsimile) of any prepayment hereunder (i) in the case of prepayment of a
Euro-Dollar Borrowing, not later than 11:00 a.m., New York City time, three
Euro-Dollar Business Days before the date of prepayment, (ii) in the case of
prepayment of an Alternative Currency Borrowing, to its London office not later
than 11:00 a.m. London time three Euro-Currency Business Days before the date of
prepayment, (iii) in the case of prepayment of an ABR Revolving Borrowing, not
later than 11:00 a.m., New York City time, one Domestic Business Day before the
date of prepayment or (iv) in the case of prepayment of a Swingline Loan, not
later than 12:00 noon, New York City time, on the date of prepayment. Each such
notice shall be irrevocable and shall specify the prepayment date and the
principal amount of each Borrowing or portion thereof to be prepaid; PROVIDED
that, if a notice of prepayment is given in connection with a conditional notice
of termination of the Commitments as contemplated by Section 2.08, then such
notice of prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.08. Promptly following receipt of any such notice
relating to a Revolving Borrowing, the Administrative Agent shall advise the
Lenders of the contents thereof. Each partial prepayment of any Revolving
Borrowing shall be in an amount that would be permitted in the case of an
advance of a Revolving Borrowing of the same Type as provided in Section 2.02.
Each prepayment shall be applied ratably to the Loans included in the prepaid
Borrowing. Prepayments shall be accompanied by accrued interest to the extent
required by Section 2.12.

     Section 2.11. FEES. (a) The Company agrees to pay to the Administrative
Agent for the account of each Lender a commitment fee in Dollars, which shall
accrue at the Applicable Rate on the average daily unused amount of the
Commitment of such Lender during the period from and including the Effective
Date to but excluding the date on which such Commitment terminates. Accrued
commitment fees shall be payable in arrears on the last day of March, June,
September and December of each year and on the date on which the Commitments
terminate, commencing on the first such date to occur after the date hereof. All
commitment fees shall be computed on the basis of a year of 360 days and shall
be payable for the actual number of days elapsed (including the first day but
excluding the last day).

     (b)  The Borrower agrees to pay (i) to the Administrative Agent for the
account of each Lender a participation fee in Dollars with respect to its
participations in Letters of Credit, which shall accrue at the same Applicable
Rate used to determine the interest rate applicable to Euro-Dollar Loans on such
Lender's average daily LC Exposure (excluding any portion thereof attributable
to unreimbursed LC Disbursements) during the period from and including the
Effective Date to but excluding the later of the date on which such Lender's
Commitment terminates and the date on which such Lender ceases to have any LC
Exposure and (ii) to the Issuing Bank a fronting fee in Dollars, which shall
accrue at the rate of 0.125% per annum on the average daily LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the
later of the date of termination of the Commitments and the date on which there
ceases to be any LC Exposure, as well as the Issuing Bank's standard fees with
respect to the issuance,

                                       30
<Page>

amendment, renewal or extension of any Letter of Credit or processing of
drawings thereunder. Participation fees and fronting fees accrued through and
including the last day of March, June, September and December of each year shall
be payable on the third Domestic Business Day following such last day,
commencing on the first such date to occur after the Effective Date; PROVIDED
that all such fees shall be payable on the date on which the Commitments
terminate and any such fees accruing after the date on which the Commitments
terminate shall be payable on demand. Any other fees payable to the Issuing Bank
pursuant to this paragraph shall be payable within 10 days after demand. All
participation fees and fronting fees shall be computed on the basis of a year of
360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

     (c)  All fees payable hereunder shall be paid on the dates due, in
immediately available funds, to the Administrative Agent (or to the Issuing
Bank, in the case of fees payable to it) for distribution, in the case of
commitment fees and participation fees, to the Lenders. Fees paid shall not be
refundable under any circumstances.

     Section 2.12. INTEREST. (a) The Loans comprising each ABR Borrowing shall
bear interest at the Alternate Base Rate plus the Applicable Rate.

     (b)  The Loans comprising each Euro-Currency Borrowing shall bear interest
at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing
plus the Applicable Rate.

     (c)  The Loans comprising each Swingline Borrowing shall bear interest at
the Alternative Base Rate plus the Applicable Rate, or at such other rate as
shall from time to time be agreed between the Swingline Lender and the Company.

     (d)  Notwithstanding the foregoing, if any principal of or interest on any
Loan or any fee or other amount payable by the Borrower hereunder is not paid
when due, whether at stated maturity, upon acceleration or otherwise, such
overdue amount shall bear interest, after as well as before judgment, at a rate
per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the
rate otherwise applicable to such Loan as provided in the preceding paragraphs
of this Section or (ii) in the case of any other amount, 2% plus the rate
applicable to ABR Loans as provided in paragraph (a) of this Section.

     (e)  Accrued interest on each Loan shall be payable in arrears on each
Interest Payment Date for such Loan and, in the case of Revolving Loans, upon
termination of the Commitments; PROVIDED that (i) interest accrued pursuant to
paragraph (d) of this Section shall be payable on demand, (ii) in the event of
any repayment or prepayment of any Loan (other than a prepayment of an ABR
Revolving Loan prior to the end of the Availability Period), accrued interest on
the principal amount repaid or prepaid shall be payable on the date of such
repayment or prepayment and (iii) in the event of any conversion of any
Euro-Currency Loan prior to the end of the current Interest Period therefor,
accrued interest on such Loan shall be payable on the effective date of such
conversion.

     (f)  All interest hereunder shall be computed on the basis of a year of 360
days, except that (i) interest computed by reference to the Alternate Base Rate
at times when the Alternate

                                       31
<Page>

Base Rate is based on the Prime Rate shall be computed on the basis of a year of
365 days (or 366 days in a leap year) and (ii) interest computed with respect to
Loans denominated in Pound Sterling shall be computed on the basis of a year of
365 days, and in each case shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). The applicable
Alternate Base Rate or Adjusted LIBO Rate shall be determined by the
Administrative Agent, and such determination shall be conclusive absent manifest
error.

     Section 2.13. ALTERNATE RATE OF INTEREST. If prior to the commencement of
any Interest Period for a Euro-Currency Borrowing:

     (a)  the Administrative Agent determines (which determination shall be
conclusive absent manifest error) that adequate and reasonable means do not
exist for ascertaining the Adjusted LIBO Rate for deposits in the relevant
currency for such Interest Period; or

     (b)  the Administrative Agent is advised by the Required Lenders that the
Adjusted LIBO Rate applicable to Euro-Currency Borrowings in the relevant
currency for such Interest Period will not adequately and fairly reflect the
cost to such Lenders (or Lender) of making or maintaining their Loans (or its
Loan) included in such Borrowing for such Interest Period;

then the Administrative Agent shall give notice thereof to the Company and the
Lenders by telephone or facsimile as promptly as practicable thereafter and,
until the Administrative Agent notifies the Company and the Lenders that the
circumstances giving rise to such notice no longer exist (which the
Administrative Agent shall do promptly after becoming aware thereof), (i) any
Interest Election Request that requests the conversion of any Revolving
Borrowing to, or continuation of any Revolving Borrowing as, a Euro-Currency
Borrowing of the affected currency shall be ineffective and (ii) if any
Borrowing Request requests a Euro-Currency Borrowing in the affected currency,
such Borrowing shall be made as an ABR Borrowing in an equal Dollar Amount.

     Section 2.14. INCREASED COSTS.  (a) If any Change in Law shall

          (i)    impose, modify or deem applicable any reserve, special deposit
     or similar requirement against assets of, deposits with or for the account
     of, or credit extended by, any Lender or its Applicable Lending Office
     (except any such reserve requirement reflected in the Adjusted LIBO Rate)
     or the Issuing Bank; or

          (ii)   impose on any Lender (or its Applicable Lending Office) or the
     Issuing Bank or the London interbank market any other condition affecting
     this Agreement or Euro-Currency Loans made by such Lender or any Letter of
     Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such
Lender (or its Applicable Lending Office) of making or maintaining any
Euro-Currency Loan (or of maintaining its obligation to make any such Loan) or
to increase the cost to such Lender (or its Applicable Lending Office) or the
Issuing Bank of participating in, issuing or maintaining any Letter of Credit or
to reduce the amount of any sum received or receivable by such Lender (or its
Applicable Lending Office) or the Issuing Bank hereunder (whether of principal,
interest or

                                       32
<Page>

otherwise), then the Company will pay (or will cause the relevant Borrower to
pay) to such Lender or the Issuing Bank, as the case may be, such additional
amount or amounts as will compensate such Lender or the Issuing Bank, as the
case may be, for such additional costs incurred or reduction suffered.

     (b)  If any Lender or the Issuing Bank determines that any Change in Law
regarding capital requirements has or would have the effect of reducing the rate
of return on such Lender's or the Issuing Bank's capital or on the capital of
such Lender's or the Issuing Bank's holding company, if any, as a consequence of
this Agreement or the Loans made by, or participations in Letters of Credit held
by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level
below that which such Lender or the Issuing Bank or such Lender's or the Issuing
Bank's holding company could have achieved but for such Change in Law (taking
into consideration such Lender's or the Issuing Bank's policies and the policies
of such Lender's or the Issuing Bank's holding company with respect to capital
adequacy), then from time to time the Company will pay (or will cause the
relevant Borrower to pay) to such Lender or the Issuing Bank, as the case may
be, such additional amount or amounts as will compensate such Lender or the
Issuing Bank or such Lender's or the Issuing Bank's holding company for any such
reduction suffered.

     (c)  A certificate of a Lender or the Issuing Bank setting forth the amount
or amounts necessary to compensate such Lender or the Issuing Bank or its
holding company, as the case may be, as specified in paragraph (a) or (b) of
this Section and the calculation of such amount or amounts in reasonable detail
shall be delivered to the Company and shall be conclusive absent manifest error.
The Company or the relevant Borrower, as the case may be, shall pay such Lender
or the Issuing Bank, as the case may be, the amount shown as due on any such
certificate within 10 days after receipt thereof.

     (d)  Failure or delay on the part of any Lender or the Issuing Bank to
demand compensation pursuant to this Section shall not constitute a waiver of
such Lender's or the Issuing Bank's right to demand such compensation, as the
case may be; PROVIDED that the Borrower shall not be required to compensate a
Lender or the Issuing Bank pursuant to this Section 2.14 for any increased costs
or reductions incurred more than 120 days prior to the date that such Lender or
the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law
giving rise to such increased costs or reductions and of such Lender's or the
Issuing Bank's intention to claim compensation therefor; PROVIDED FURTHER that,
if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 120-day period referred to above shall be extended to
include the period of retroactive effect thereof.

     Section 2.15. BREAK FUNDING PAYMENTS. In the event of (a) the payment of
any principal of any Euro-Currency Loan other than on the last day of an
Interest Period applicable thereto (including as a result of an Event of
Default), (b) the conversion of any Euro-Currency Loan other than on the last
day of the Interest Period applicable thereto, (c) the failure to borrow,
convert, continue or prepay any Euro-Currency Loan on the date specified in any
notice delivered pursuant hereto (regardless of whether such notice may be
revoked under Section 2.10(b) and is revoked in accordance therewith) or (d) the
assignment of any Euro-Currency Loan other than on the last day of the Interest
Period applicable thereto as a result of a request by the Borrower pursuant to
Section 2.19, then, in any such event, the relevant Borrower shall compensate
each Lender for the loss, cost and expense attributable to such event. Such
loss, cost

                                       33
<Page>

or expense to any Lender shall be deemed to include an amount determined by such
Lender to be the excess, if any, of (i) the amount of interest which would have
accrued on the principal amount of such Loan had such event not occurred, at the
Adjusted LIBO Rate that would have been applicable to such Loan, for the period
from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the
period that would have been the Interest Period for such Loan), over (ii) the
amount of interest which would accrue on such principal amount for such period
at the interest rate which such Lender would bid were it to bid, at the
commencement of such period, for deposits in Dollars or other applicable
currency of a comparable amount and period from other banks in the London
interbank market. A certificate of any Lender setting forth any amount or
amounts that such Lender is entitled to receive pursuant to this Section shall
be delivered to the Borrower and shall be conclusive absent manifest error. The
Borrower shall pay such Lender the amount shown as due on any such certificate
within 10 days after receipt thereof.

     Section 2.16. TAXES. (a) Any and all payments by or on account of any
obligation of any Borrower under the Loan Documents shall be made free and clear
of and without deduction for any Indemnified Taxes or Other Taxes; PROVIDED that
if any Borrower shall be required to deduct any Indemnified Taxes or Other Taxes
from such payments, then (i) the sum payable shall be increased as necessary so
that after making all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, Lender or
Issuing Bank (as the case may be) receives an amount equal to the sum it would
have received had no such deductions been made, (ii) such Borrower shall make
such deductions and (iii) such Borrower shall pay the full amount deducted to
the relevant Governmental Authority in accordance with applicable law.

     (b)  In addition, each Borrower shall pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable law.

     (c)  The relevant Borrower shall indemnify the Administrative Agent, each
Lender and the Issuing Bank, within 10 days after written demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes paid by the
Administrative Agent, such Lender or the Issuing Bank, as the case may be, on or
with respect to any payment by or on account of any obligation of such Borrower
under the Loan Documents (including Indemnified Taxes or Other Taxes imposed or
asserted on or attributable to amounts payable under this Section) and any
penalties, interest and reasonable expenses arising therefrom or with respect
thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority; PROVIDED,
that the relevant Borrower shall not be obligated to indemnify the
Administrative Agent, such Lender or the Issuing Bank, as the case may be,
pursuant to this Section in respect of penalties, interest or similar
liabilities arising therefrom or with respect thereto to the extent such
penalties, interest or similar liabilities are attributable to the gross
negligence or willful misconduct by the Administrative Agent, such Lender or the
Issuing Bank. A certificate as to the amount of such payment or liability
delivered to the relevant Borrower by a Lender or the Issuing Bank, or by the
Administrative Agent on its own behalf or on behalf of a Lender or the Issuing
Bank, shall be conclusive absent manifest error.

     (d)  As soon as practicable after any payment of Indemnified Taxes or Other
Taxes by any Borrower to a Governmental Authority, such Borrower shall deliver
to the Administrative

                                       34
<Page>

Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment
or other evidence of such payment reasonably satisfactory to the Administrative
Agent.

     (e)  Any Foreign Lender that is entitled to an exemption from or reduction
of withholding tax under the law of the jurisdiction in which a Borrower is
located, or any treaty to which such jurisdiction is a party, with respect to
payments under any Loan Document shall deliver to the Company (with a copy to
the Administrative Agent), at the time or times prescribed by applicable law,
such properly completed and executed documentation prescribed by applicable law
or reasonably requested by the Company as will permit such payments to be made
without withholding or at a reduced rate.

     (f)  If the Administrative Agent or a Lender determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to
which it has been indemnified by any Borrower or with respect to which any
Borrower has paid additional amounts pursuant to this Section 2.16, it shall pay
over such refund to such Borrower (but only to the extent of indemnity payments
made, or additional amounts paid, by such Borrower under this Section 2.16 with
respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses with respect to such refund of the Administrative Agent
or such Lender and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund); PROVIDED, that
such Borrower, upon the request of the Administrative Agent or such Lender,
agrees to repay the amount paid over to the Borrower (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent or such Lender in the event the Administrative Agent or
such Lender is required to repay such refund to such Governmental Authority.
This Section shall not be construed to require the Administrative Agent or any
Lender to make available its tax returns (or any other information relating to
its taxes which it deems confidential) to the Borrower or any other Person.

     Section 2.17. FOREIGN SUBSIDIARY COSTS. If the cost to any Lender of making
or maintaining any Loan to or of issuing or maintaining any Letter of Credit for
the account of an Eligible Subsidiary is increased, or (except as permitted by
Section 2.16), the amount of any sum received or receivable by any Lender (or
its Applicable Lending Office) is reduced in each case by an amount deemed by
such Lender to be material, by reason of the fact that such Eligible Subsidiary
is incorporated in, or conducts business in, a jurisdiction outside the United
States, the Company shall indemnify such Lender for such increased cost or
reduction within 10 days after demand by such Lender (with a copy to the
Administrative Agent). A certificate of such Lender claiming compensation under
this Section 2.17 and setting forth the additional amount or amounts to be paid
to it hereunder shall be conclusive in the absence of manifest error.

     Section 2.18. PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF SET-OFFS.
(a) The Borrower shall make each payment of principal of, and interest on, the
Dollar-Denominated Loans, of LC Exposures denominated in Dollars and of fees
hereunder, not later than 12:00 Noon (New York City time) on the date when due,
in Dollars in funds immediately available in New York City. The Borrower shall
make each payment of principal of, and interest on, the Alternative Currency
Loans and of LC Exposures denominated in an Alternative Currency in the relevant
Alternative Currency in such funds as may then be customary for the settlement
of international transactions in such Alternative Currency. Each such payment
shall be made

                                       35
<Page>

without reduction by reason of any set-off or counterclaim. Any amounts received
after such time on any date may, in the discretion of the Administrative Agent,
be deemed to have been received on the next succeeding Domestic Business Day (in
the case of amounts denominated in Dollars) or Euro-Currency Business Day (in
the case of amounts denominated in an Alternative Currency) for purposes of
calculating interest thereon. All such payments shall be made to the
Administrative Agent at its offices at 270 Park Avenue, New York, New York,
except payments to be made directly to the Issuing Bank or Swingline Lender as
expressly provided herein and except that payments pursuant to Sections 2.14,
2.15, 2.16, 2.17 and 12.03 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by
it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that
is not a Domestic Business Day (in the case of ABR Loans and LC Exposures
denominated in Dollars) or a Euro-Currency Business Day (in the case of
Euro-Currency Loans and LC Exposures denominated in an Alternative Currency),
the date for payment shall be extended to the next succeeding Domestic Business
Day (in the case of ABR Loans and LC Exposures denominated in Dollars) or
Euro-Currency Business Day (in the case of Euro-Currency Loans and LC Exposures
denominated an Alternative Currency), and, in the case of any payment accruing
interest, interest thereon shall be payable for the period of such extension.

     (b)  If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, unreimbursed LC
Disbursements, interest and fees then due hereunder, such funds shall be applied
(i) first, towards payment of interest and fees then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of interest
and fees then due to such parties, and (ii) second, towards payment of principal
and unreimbursed LC Disbursements then due hereunder, ratably among the parties
entitled thereto in accordance with the amounts of principal and unreimbursed LC
Disbursements then due to such parties.

     (c)  If any Lender shall, by exercising any right of set-off or
counterclaim or otherwise, obtain payment in respect of any principal of or
interest on any of its Revolving Loans or participations in LC Disbursements or
Swingline Loans resulting in such Lender receiving payment of a greater
proportion of the aggregate amount of its Revolving Loans and participations in
LC Disbursements and Swingline Loans and accrued interest thereon than the
proportion received by any other Lender, then the Lender receiving such greater
proportion shall purchase (for cash at face value) participations in the
Revolving Loans and participations in LC Disbursements and Swingline Loans of
other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate amount
of principal of and accrued interest on their respective Revolving Loans and
participations in LC Disbursements and Swingline Loans; PROVIDED that (i) if any
such participations are purchased and all or any portion of the payment giving
rise thereto is recovered, such participations shall be rescinded and the
purchase price restored to the extent of such recovery, without interest, and
(ii) the provisions of this paragraph shall not be construed to apply to any
payment made by any Borrower pursuant to and in accordance with the express
terms of this Agreement or any payment obtained by a Lender as consideration for
the assignment of or sale of a participation in any of its Loans or
participations in LC Disbursements to any assignee or participant, other than to
the Company or any Subsidiary or Affiliate thereof (as to which the provisions
of this paragraph shall apply). Each Borrower consents to the

                                       36
<Page>

foregoing and agrees, to the extent it may effectively do so under applicable
law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against such Borrower rights of set-off and
counterclaim with respect to such participation as fully as if such Lender were
a direct creditor of such Borrower in the amount of such participation.

     (d)  Unless the Administrative Agent shall have received notice from the
Company or the applicable Borrower prior to the date on which any payment is due
to the Administrative Agent for the account of the Lenders or the Issuing Bank
hereunder that a Borrower will not make such payment, the Administrative Agent
may assume that such Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Lenders or
the Issuing Bank, as the case may be, the amount due. In such event, if such
Borrower has not in fact made such payment, then each of the Lenders or the
Issuing Bank, as the case may be, severally agrees to repay to the
Administrative Agent forthwith on demand the amount so distributed to such
Lender or Issuing Bank with interest thereon, for each day from and including
the date such amount is distributed to it to but excluding the date of payment
to the Administrative Agent, at (i) the Federal Funds Effective Rate (if such
distribution was made in Dollars) or (ii) the rate per annum at which one-day
deposits in the relevant currency are offered by the principal London office of
the Administrative Agent in the London interbank market (if such distribution
was made in an Alternative Currency).

     (e)  If any Lender shall fail to make any payment required to be made by it
pursuant to Section 2.04(c), 2.05(e), 2.05(f), 2.06(b) or 2.18(d), then the
Administrative Agent may, in its discretion (notwithstanding any contrary
provision hereof), apply any amounts thereafter received by the Administrative
Agent for the account of such Lender to satisfy such Lender's obligations under
such Sections until all such unsatisfied obligations are fully paid.

     Section 2.19. MITIGATION OBLIGATIONS; REPLACEMENT OF LENDERS. (a) If any
Lender requests compensation under Section 2.14 or 2.17, or if any Borrower is
required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.16, then such
Lender shall use reasonable efforts to designate a different Applicable Lending
Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in
the judgment of such Lender, such designation or assignment (i) would eliminate
or reduce amounts payable pursuant to Section 2.14, 2.16 or 2.17, as the case
may be, in the future and (ii) would not subject such Lender to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender. The
Company hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.

     (b)  If any Lender requests compensation under Section 2.14 or 2.17, or if
any Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.16,
or if any Lender defaults in its obligation to fund Loans hereunder, then the
Company may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in
Section 12.04), all its interests, rights and obligations under this Agreement
to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); PROVIDED that (i) the Company
shall have received the prior written consent of the Administrative

                                       37
<Page>

Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall
have received payment of an amount equal to the outstanding principal of its
Loans and participations in LC Disbursements and Swingline Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder,
from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Company or the relevant Borrower (in the case of all
other amounts) and (iii) in the case of any such assignment resulting from a
claim for compensation under Section 2.14 or 2.17 or payments required to be
made pursuant to Section 2.16, such assignment will result in a reduction in
such compensation or payments. A Lender shall not be required to make any such
assignment and delegation if, prior thereto, as a result of a waiver by such
Lender or otherwise, the circumstances entitling the Company to require such
assignment and delegation cease to apply.

     Section 2.20. CURRENCY EQUIVALENTS. (a) The Administrative Agent shall
determine the Dollar Amount of each Alternative Currency Loan as of the first
day of each Interest Period applicable thereto and, in the case of any such
Interest Period of more than three months, at three-month intervals after the
first day thereof, and shall promptly notify the Borrower and the Lenders of
each Dollar Amount so determined by it. Each such determination shall be based
on the Spot Rate (i) on the date of the related Borrowing Request for purposes
of the initial such determination for any Alternative Currency Loan and (ii) on
the fourth Euro-Currency Business Day prior to the date as of which such Dollar
Amount is to be determined, for purposes of any subsequent determination.

     (b)  The Administrative Agent shall determine the LC Exposure related to
each Letter of Credit as of the date of issuance thereof and at three-month
intervals after the date of issuance thereof. Each such determination shall be
based on the Spot Rate (i) on the date of the related notice of issuance, in the
case of the initial determination in respect of any Letter of Credit and (ii) on
the fourth Euro-Currency Business Day prior to the date as of which such Dollar
Amount is to be determined, in the case of any subsequent determination with
respect to an outstanding Letter of Credit.

     (c)  If after giving effect to any such determination of a Dollar Amount,
the total Revolving Credit Exposures of all Lenders exceed the aggregate amount
of the Commitments or the aggregate Dollar Amount of Alternative Currency Loans
and LC Exposures denominated in an Alternative Currency exceeds 105% of the
Alternative Currency Sublimit, the Borrowers shall within five Euro-Currency
Business Days prepay outstanding Loans (as selected by the Company and notified
to the Lenders through the Administrative Agent not less than three
Euro-Currency Business Days prior to the date of prepayment) or take other
action to the extent necessary to eliminate any such excess.

                                    ARTICLE 3
                         REPRESENTATIONS AND WARRANTIES

     The Company and each Original Subsidiary Borrower represents and warrants
to the Administrative Agent and the Lenders that:

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<Page>

     Section 3.01. ORGANIZATION; POWERS. The Company and each Subsidiary (a) is
duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, (b) has all requisite power and authority to
own its property and assets and to carry on its business as now conducted and as
proposed to be conducted, (c) is qualified to do business in every jurisdiction
where such qualification is required, except where the failure so to qualify
could not reasonably be expected to result in a Material Adverse Effect, and (d)
has the power and authority to execute, deliver and perform its obligations
under each Loan Document to which it is a party and under each other agreement
or instrument contemplated thereby to which it is or will be a party and, in the
case of any Borrower, to borrow hereunder.

     Section 3.02. AUTHORIZATION. The Transactions (a) have been duly authorized
by all requisite corporate, partnership, limited liability company or analogous
and, if required, stockholder, partner, member or analogous action and (b) will
not (i) materially violate any provision of law, statute, rule or regulation, or
of the certificate or articles of incorporation or other constitutive documents
or by-laws of the Company or any Subsidiary, (ii) materially violate any order
of any Governmental Authority or (iii) materially violate any provision of any
material indenture, agreement or other instrument to which the Company or any
Subsidiary is a party or by which any of them or any of their property is or may
be bound, (iv) be in material conflict with, result in a material breach of or
constitute (alone or with notice or lapse of time or both) a material default
under any such indenture, agreement or other instrument or (v) result in the
creation or imposition of any Lien (other than the Transaction Liens) upon any
property or assets of the Company or any Subsidiary.

     Section 3.03. ENFORCEABILITY. This Agreement has been duly executed and
delivered by the Company and each Original Subsidiary Borrower and constitutes,
and each other Loan Document to which any Credit Party is party, when executed
and delivered by such Credit Party, will constitute, a legal, valid and binding
obligation of each such Credit Party enforceable against each such Credit Party
in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors' rights
generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. The Loans and all other
obligations or liabilities of the Company and each Original Subsidiary Borrower
hereunder shall not be subordinated in right of payment to any other
Indebtedness of the Company or such Original Subsidiary Borrower, respectively.

     Section 3.04. GOVERNMENTAL APPROVALS. No action, consent or approval of,
registration or filing with or other action by any Governmental Authority is or
will be required in connection with the Transactions, except (a) such as will
have been made or obtained on or before the Effective Date and thereafter will
be in full force and effect and (b) filings required to be made pursuant to the
Security Agreement to perfect the Transaction Liens.

     Section 3.05. FINANCIAL STATEMENTS. (a) The Company has heretofore
furnished to the Lenders (i) its Consolidated statement of financial position
and related Consolidated statements of earnings, cash flows and shareholders'
investment as of and for the fiscal year ended December 31, 2001, audited by and
accompanied by the opinion of Arthur Andersen LLP, independent public
accountants, (ii) its Consolidated statement of financial position and related
Consolidated statements of earnings and cash flows as of and for the fiscal
quarter ended June 30, 2002, certified by its chief financial officer, and (iii)
the consolidating statements of financial

                                       39
<Page>

position and related consolidating statements of earnings and cash flows of the
Company and its Subsidiaries for the fiscal quarter ended June 30, 2002,
certified by its chief financial officer. Such financial statements present
fairly in all material respects the financial position of the Company and its
Consolidated Subsidiaries as of such dates and their results of operations and
cash flows for such periods. Such statements of financial position and the notes
thereto disclose all material liabilities, direct or contingent, of the Company
and its Consolidated Subsidiaries as of the dates thereof. Such financial
statements were prepared in accordance with GAAP applied on a consistent basis.

     (b)  Since December 31, 2001, there has been no material adverse change in
the business, assets, property, condition (financial or otherwise) or prospects
of the Company and its Subsidiaries taken as whole.

     Section 3.06. TITLE TO PROPERTIES; POSSESSION UNDER LEASES. (a) The Company
and each of the Subsidiaries has good and marketable title to, or valid
leasehold interests in, all its material properties and assets, except for minor
defects in title that do not interfere with its ability to conduct its business
as currently conducted or to utilize such properties and assets for their
intended purposes. All such material properties and assets are free and clear of
Liens, other than Liens expressly permitted by Section 6.01.

     (b)  The Company and each of the Subsidiaries has complied with all
obligations under all material leases to which it is a party and all such leases
are in full force and effect. The Company and each of the Subsidiaries enjoys
peaceful and undisturbed possession under all such material leases.

     Section 3.07. SUBSIDIARIES. Schedule 3.07 sets forth as of the Effective
Date a list of each Subsidiary of the Company that is a Significant Subsidiary,
a Material Subsidiary, an Excluded SPV or an Unrestricted Subsidiary and
identifies them as such, and sets forth the percentage ownership interest of the
Company and any intermediate Subsidiary therein.

     Section 3.08. LITIGATION; COMPLIANCE WITH LAWS. (a) There are not any
actions, suits, proceedings, inquiries or investigations at law or in equity or
by or before any Governmental Authority now pending or, to the knowledge of the
Company or any Original Subsidiary Borrower, threatened against or affecting the
Company or any Subsidiary or any business, property or rights of any such Person
(i) which involve the Loan Documents or the Transactions or (ii) as to which
there is a reasonable possibility of an adverse determination and which, if
adversely determined, could, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect.

     (b)  Neither the Company nor any of the Subsidiaries is in violation of any
law, rule or regulation, or in default with respect to any judgment, writ,
injunction or decree of any Governmental Authority, where such violation or
default could reasonably be expected to result in a Material Adverse Effect.

     Section 3.09. NON-EXISTENCE OF CERTAIN TYPES OF AGREEMENTS OR OBLIGATIONS.
(a) As of the Effective Date, neither the Company nor any of the Subsidiaries is
a party to any agreement

                                       40
<Page>

or instrument or subject to any corporate restriction that has resulted or could
reasonably be expected to result in a Material Adverse Effect.

     (b)  Neither the Company nor any of the Subsidiaries is in default in any
manner under any provision of any material agreement or instrument (excluding
any indenture or other agreement or instrument evidencing Indebtedness) to which
it is a party or by which it or any of its properties or assets are or may be
bound, where such default could reasonably be expected to result in a Material
Adverse Effect.

     (c)  Except as set forth in Schedule 3.09(c), as of the Effective Date
neither the Company nor any Subsidiary is a party to or is bound by the terms of
(i) any indenture or other agreement or instrument evidencing Indebtedness or
(ii) any certificate of designation or other certificate, agreement or
instrument relating to any capital stock, in either case which contains a
provision granting the holders thereof the right to require the Company or any
Subsidiary to buy all or any part of such Indebtedness or capital stock (or any
other provision having substantially the same effect) other than sinking fund
and conversion provisions and provisions requiring repayment upon default.

     (d)  Schedule 3.09(d) sets forth the total amount of each category of
Priority Indebtedness (as set forth in the definition thereof) of the Company
and its Subsidiaries existing as of the Effective Date.

     (e)  Schedule 3.09(e) sets forth the total amount of all Guarantees by the
Company and its Subsidiaries of Indebtedness (other than Indebtedness under the
Loan Documents and Indebtedness of the Company or any Subsidiary owing to the
Company or any Subsidiary) existing as of the Effective Date.

     Section 3.10. FEDERAL RESERVE REGULATIONS. The making of the Loans
hereunder and the use of the proceeds thereof as contemplated hereby will not
violate or be inconsistent with Regulation U or Regulation X.

     Section 3.11. NO REGULATORY RESTRICTIONS ON BORROWING. Neither the Company
nor any Original Subsidiary Borrower is (a) an "INVESTMENT COMPANY" as defined
in, or subject to regulation under, the Investment Company Act of 1940, as
amended, (b) a "HOLDING COMPANY" or a "SUBSIDIARY COMPANY" of a holding company
as defined in, or subject to regulation under, the Public Utility Holding
Company Act of 1935 or (c) subject to any other applicable regulatory scheme
which restricts its ability to incur the indebtedness to be incurred hereunder.

     Section 3.12. TAX RETURNS. The Company and each Subsidiary has filed or
caused to be filed all Federal, state and local tax returns required to have
been filed by it and has paid or caused to be paid all taxes shown to be due and
payable on such returns or on any assessments received by it, except (a) taxes
that are being contested in accordance with Section 5.03 or (b) to the extent
that the failure to do so could not reasonably be expected to result in a
Material Adverse Effect.

     Section 3.13. ENVIRONMENTAL MATTERS. Except for the Disclosed Matters and
except with respect to any other matters that, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect, neither
the Company nor any of its Subsidiaries

                                       41
<Page>

(i) has failed to comply with any Environmental Law or to obtain, maintain or
comply with any permit, license or other approval required under any
Environmental Law, (ii) has become subject to any Environmental Liability, (iii)
has received written notice of any claim with respect to any Environmental
Liability or (iv) knows of any basis for any Environmental Liability.

     Section 3.14. ERISA. No ERISA Event has occurred or is reasonably expected
to occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, could reasonably be expected to
result in a Material Adverse Effect. The present value of all accumulated
benefit obligations under each Plan (based on the assumptions used for purposes
of Statement of Financial Accounting Standards No. 87) did not, as of the date
of the most recent financial statements reflecting such amounts, exceed by more
than a material amount the fair market value of the assets of such Plan.

     Section 3.15. NO MATERIAL MISSTATEMENTS. (a) As of the Effective Date, the
Information Memorandum does not contain any material misstatement of fact or
omit to state any material fact necessary to make the statements therein, in the
light of the circumstances under which they are made, not materially misleading,
and (b) no other information, report, financial statement, exhibit or schedule
furnished by or on behalf of the Company or any Subsidiary to the Administrative
Agent or any Lender in connection with the negotiation of the Loan Documents or
included therein or delivered pursuant thereto, when taken together with all
other such information, reports, financial statements, exhibits or schedules,
contained, contains or will contain any material misstatement of fact or
omitted, omits or will omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were, are
or will be made, not materially misleading.

     Section 3.16. SOLVENCY. Immediately following the making of each Borrowing
and after giving effect to the application of the proceeds of such Borrowing,
the Company and its Subsidiaries on a consolidated basis will be Solvent. The
Company and its Subsidiaries on a consolidated basis do not intend to, and do
not believe that the Company and its Subsidiaries on a consolidated basis will,
incur debts beyond their ability to pay such debts as they mature, taking into
account the timing of and amounts of cash anticipated to be received by the
Company and its Subsidiaries on a consolidated basis and the timing of the
amounts of cash anticipated to be payable on or in respect of the Indebtedness
of the Company and its Subsidiaries on a consolidated basis. For the purpose of
this Section, "SOLVENT" means, with respect to any Person on a particular date,
that on such date (a) the fair value of the property owned by such Person is
greater than the total amount of liabilities, including, without limitation,
contingent liabilities, of such Person, (b) such Person is able to meet its
obligations as those obligations mature and (c) such Person is not engaged in
business or a transaction for which such Person's property would constitute an
unreasonably small capital. The amount of contingent liabilities at any time
shall be computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability.

                                       42
<Page>

                                    ARTICLE 4
                                   CONDITIONS

     Section 4.01. EFFECTIVE DATE. The obligations of the Lenders to make Loans
and of the Issuing Bank to issue Letters of Credit hereunder shall not become
effective until the date on which each of the following conditions is satisfied
(or waived in accordance with Section 12.02):

     (a)  The Administrative Agent (or its counsel) shall have received from
each party hereto either (i) a counterpart of this Agreement signed on behalf of
such party or (ii) written evidence satisfactory to the Administrative Agent
(which may include facsimile transmission of a signed signature page of this
Agreement) that such party has signed a counterpart of this Agreement.

     (b)  The Administrative Agent shall have received a favorable written
opinion (addressed to the Administrative Agent and the Lenders and dated the
Effective Date) of Cravath, Swaine & Moore, special New York counsel for the
Company, substantially in the form of Exhibit B-1, Maria M. Rose, internal
counsel to the Company, substantially in the form of Exhibit B-2, Raymond S.
Egres, internal counsel to the Original Subsidiary Borrowers, substantially in
the form of Exhibit B-3, and Morris, James, Hitchens & Williams LLP, special
Delaware counsel to the Company, substantially in the form of Exhibit B-4, in
each case covering such other matters relating to the Credit Parties, the Loan
Documents or the Transactions as the Administrative Agent shall reasonably
request. The Company and each Original Subsidiary Borrower hereby requests such
counsel to deliver such opinions.

     (c)  The Administrative Agent shall have received an opinion of Davis Polk
& Wardwell, special counsel for the Administrative Agent, substantially in the
form of Exhibit C and covering such additional matters relating to the
transactions contemplated by the Loan Documents as the Administrative Agent may
reasonably require.

     (d)  The Administrative Agent shall have received such documents and
certificates as the Administrative Agent or its counsel may reasonably request
relating to the organization, existence and good standing of the Borrowers and
the Subsidiary Guarantors, the authorization of the Transactions and any other
legal matters relating to the Borrowers and the Subsidiary Guarantors, the Loan
Documents or the Transactions, all in form and substance reasonably satisfactory
to the Administrative Agent and its counsel.

     (e)  The Administrative Agent shall have received a certificate, dated the
Effective Date and signed by the President, a Vice President or a Financial
Officer of the Company, confirming compliance with the conditions set forth in
paragraphs (a) and (b) of Section 4.02.

     (f)  The Administrative Agent shall have received all fees and other
amounts due and payable on or prior to the Effective Date, including, to the
extent invoiced, reimbursement or payment of all out-of-pocket expenses required
to be reimbursed or paid by the Borrowers under the Loan Documents.

     (g)  The Administrative Agent shall have received evidence reasonably
satisfactory to it of the payment of all principal of and interest on any loans
outstanding under, and all accrued commitment fees under, the Existing Credit
Agreement.

                                       43
<Page>

     (h)  The Collateral and Guarantee Requirement shall have been satisfied in
full and the Collateral Agent shall have received a completed Perfection
Certificate dated the Effective Date and signed by a Financial Officer or other
executive officer of the Company, together with all attachments contemplated
thereby.

The Administrative Agent shall notify the Company and the Lenders of the
Effective Date, and such notice shall be conclusive and binding. The Company and
the Lenders party to the Existing Credit Agreement (the "CONTINUING LENDERS")
hereby agree that if, on or prior to the Effective Date, one or more Required
Exiting Lenders give their written consent to the matters set forth in clauses
(i) through (iii) of this sentence, then: (i) the commitments of the banks under
the Existing Credit Agreement shall terminate in their entirety immediately and
automatically on the Effective Date, without further action by any party to the
Existing Credit Agreement, (ii) all accrued facility fees under the Existing
Credit Agreement shall be due and payable at such time and (iii) subject to
Section 2.15 of the Existing Credit Agreement, the Company may prepay any and
all loans outstanding thereunder on the Effective Date and any requirement for
notice of such prepayment shall be waived. For the purpose hereof "REQUIRED
EXITING LENDERS" means lenders party to the Existing Credit Agreement (other
than the Continuing Lenders) who, together with the Continuing Lenders,
constitute "REQUIRED LENDERS" for the purpose of the Existing Credit Agreement.

     Section 4.02. EACH CREDIT EVENT. The obligation of each Lender to make a
Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend,
renew or extend any Letter of Credit, is subject to the satisfaction of the
following conditions:

     (a)  The representations and warranties of each Credit Party set forth in
each Loan Document to which it is party (other than, solely in the case of a
Borrowing to be made to repay maturing commercial paper of the Company, that set
forth in Section 3.05(b)) shall be true and correct on and as of the date of
such Borrowing or the date of issuance, amendment, renewal or extension of such
Letter of Credit, as applicable, except to the extent such representations and
warranties expressly relate to an earlier date in which case such
representations and warranties shall be true and correct in all material
respects as of such earlier date.

     (b)  At the time of and immediately after giving effect to such Borrowing
or the issuance, amendment, renewal or extension of such Letter of Credit, as
applicable, no Default shall have occurred and be continuing.

Each Borrowing and each issuance, amendment, renewal or extension of a Letter of
Credit shall be deemed to constitute a representation and warranty by the
Borrower on the date thereof as to the matters specified in paragraphs (a) and
(b) of this Section.

     Section 4.03. FIRST BORROWING BY EACH ELIGIBLE SUBSIDIARY. The obligation
of each Lender to make a Loan, and the obligation of an Issuing Bank to issue a
Letter of Credit, on the occasion of the first Borrowing by or issuance of a
Letter of Credit for the account of each Eligible Subsidiary is subject to the
satisfaction of the following further conditions:

     (a)  Receipt by the Administrative Agent of an opinion of counsel for such
Eligible Subsidiary reasonably acceptable to the Administrative Agent,
substantially to the effect of

                                       44
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Exhibit F hereto and covering such other matters relating to the transactions
contemplated hereby as the Required Lenders may reasonably require.

     (b)  Receipt by the Administrative Agent of all documents which it may
reasonably request relating to the existence of such Eligible Subsidiary, the
corporate authority for and the validity of the Election to Participate of such
Eligible Subsidiary and this Agreement of such Eligible Subsidiary, and any
other matters relevant thereto, all in form and substance reasonably
satisfactory to the Administrative Agent.

                                    ARTICLE 5
                              AFFIRMATIVE COVENANTS

     Until the Commitments have expired or been terminated and the principal of
and interest on each Loan and all fees payable hereunder shall have been paid in
full and all Letters of Credit shall have expired or terminated and all LC
Disbursements shall have been reimbursed, the Company covenants and agrees with
the Lenders that it will, and will cause each of its Subsidiaries to:

     Section 5.01. EXISTENCE; BUSINESSES AND PROPERTIES. (a) Do or cause to be
done all things necessary to preserve, renew and keep in full force and effect
its legal existence, except (i) in the case of each Subsidiary that is not a
Borrower to the extent that the failure to take any such action could not
reasonably be expected to have a Material Adverse Effect or (ii) as otherwise
expressly permitted under Section 6.03.

     (b)  Do or cause to be done all things necessary to (i) obtain, preserve,
renew, extend and keep in full force and effect the rights, licenses, permits,
franchises, authorizations, patents, copyrights, trademarks and trade names
material to the conduct of its business; (ii) comply in all material respects
with all applicable laws, rules, regulations and orders of any Governmental
Authority, whether now in effect or hereafter enacted and (iii) at all times
maintain and preserve all property material to the conduct of such business and
keep such property in good repair, working order and condition (ordinary wear
and tear excepted) and from time to time make, or cause to be made, all needful
and proper repairs, renewals, additions, improvements and replacements thereto
necessary in order that the business carried on in connection therewith may be
properly conducted at all times.

     Section 5.02. INSURANCE. Keep its insurable properties insured at all times
by financially sound and reputable insurers in such amounts (with no greater
risk retention) and against such risks as are customarily maintained by
companies of established repute engaged in the same or similar businesses
operating in the same or similar locations; maintain such other insurance, to
such extent and against such risks, including fire and other risks insured
against by extended coverage, as is customary with companies in the same or
similar businesses, including public liability insurance against claims for
personal injury or death or property damage occurring upon, in, about or in
connection with the use of any properties owned, occupied or controlled by it;
and maintain such other insurance as may be required by law.

                                       45
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     Section 5.03. OBLIGATIONS AND TAXES. Pay its obligations (other than
Indebtedness) promptly and in accordance with their terms and pay and discharge
promptly all taxes, assessments and governmental charges or levies imposed upon
it or upon its income or profits or in respect of its property, before the same
shall become delinquent or in default, as well as all lawful claims for labor,
materials and supplies or otherwise which, if unpaid, might give rise to a Lien
upon such properties or any part thereof; PROVIDED that such payment and
discharge shall not be required with respect to any such tax, assessment,
charge, levy or claim so long as the validity or amount thereof shall be
contested in good faith by appropriate proceedings and the Company or such
Subsidiary shall, to the extent required by GAAP applied on a consistent basis,
set aside on its books adequate reserves with respect thereto.

     Section 5.04. FINANCIAL STATEMENTS, REPORTS, ETC. In the case of the
Company, furnish to the Administrative Agent and each Lender:

     (a)  within 90 days after the end of each fiscal year, its Consolidated
statement of financial position and related Consolidated statements of earnings,
cash flows and shareholders' investment, showing the financial position of the
Company and its Consolidated Subsidiaries as of the close of such fiscal year
and their results of operations and cash flows for such year, all audited by
PricewaterhouseCoopers LLP or other independent public accountants of recognized
national standing and accompanied by an opinion of such accountants (which shall
not be qualified in any material respect except with the consent of the Required
Lenders) to the effect that such Consolidated financial statements fairly
present in all material respects the financial position, results of operations
and cash flows of the Company on a Consolidated basis in accordance with GAAP
consistently applied;

     (b)  within 45 days after the end of each of the first three fiscal
quarters of each fiscal year, its Consolidated statement of financial position
and related Consolidated statements of earnings and cash flows showing the
financial position of the Company and its Consolidated Subsidiaries as of the
close of such fiscal quarter and their results of operations for such fiscal
quarter and the then elapsed portion of the fiscal year and their cash flows for
the then elapsed portion of the fiscal year, all certified by one of its
Financial Officers as fairly presenting the financial position, results of
operations and cash flows of the Company on a Consolidated basis in accordance
with GAAP consistently applied, subject to normal year-end audit adjustments;

     (c)  concurrently with any delivery of financial statements under paragraph
(a) or (b) above, a corresponding consolidating statement of financial position
and related consolidating statements of earnings, cash flow and shareholders'
investment (which need not be audited), showing the financial position of the
Company and its Subsidiaries as of the end of the corresponding period, and
their results of operations and cash flows for such period, all certified by one
of the Company's Financial Officers as fairly presenting the financial position,
results of operations and cash flows of the Company and its Subsidiaries on a
consolidating basis in accordance with GAAP consistently applied, subject to
normal year-end adjustments;

     (d)  concurrently with any delivery of financial statements under paragraph
(a) or (b) above, a certificate, substantially in the form of Exhibit G hereto,
of the accounting firm or Financial Officer opining on or certifying such
statements (which certificate, when furnished by an accounting firm, may be
limited to accounting matters and disclaim responsibility for legal

                                       46
<Page>

interpretations) (i) certifying that no Default has occurred or, if such Default
has occurred, specifying the nature and extent thereof and any corrective action
taken or proposed to be taken with respect thereto and (ii) setting forth
computations in reasonable detail reasonably satisfactory to the Administrative
Agent demonstrating compliance with the covenants contained in Sections 7.01,
7.02 and Section 7.03;

     (e)  promptly after the occurrence of any event or condition which makes
the information thereon inaccurate, incomplete or untrue, an update to Schedule
3.07;

     (f)  promptly after the same become publicly available, copies of all
periodic and other reports, proxy statements and other materials filed by it
with the Securities and Exchange Commission, or any governmental authority
succeeding to any of or all the functions of such Commission, or with any
national securities exchange, or distributed to its shareholders, as the case
may be; and

     (g)  promptly, from time to time, such other information regarding the
operations, business affairs and financial condition of the Company or any
Subsidiary, or compliance with the terms of the Loan Documents, as the
Administrative Agent may reasonably request.

Information required to be delivered pursuant to paragraphs 5.04(a), 5.04(b) or
5.04(f) above shall be deemed to have been delivered on the date on which the
Company provides notice to the Lenders that such information has been posted on
the Company's website on the Internet at www.cummins.com, at
sec.gov/edaux/searches.htm or at another website identified in such notice and
accessible by the Lenders without charge; PROVIDED that (i) such notice may be
included in a certificate delivered pursuant to paragraph 5.04(d) and (ii) the
Borrower shall deliver paper copies of the information referred to in paragraphs
5.04(a), 5.04(b) or 5.04(f) to any Lender which requests such delivery.

     Section 5.05. LITIGATION AND OTHER NOTICES. Furnish to the Administrative
Agent and each Lender prompt written notice of the following:

     (a)  any Default, specifying the nature and extent thereof and the
corrective action (if any) proposed to be taken with respect thereto;

     (b)  the filing or commencement of, or any written threat or notice of
intention of any Person to file or commence, any action, suit or proceeding,
whether at law or in equity or by or before any Governmental Authority, against
the Company or any Affiliate thereof as to which there is a reasonable
possibility of an adverse determination and which, if adversely determined,
could reasonably be expected to result in a Material Adverse Effect;

     (c)  the occurrence of any ERISA Event that, alone or together with any
other ERISA Events which have occurred, could reasonably be expected to result
in a Material Adverse Effect;

     (d)  any development that has resulted in, or could reasonably be expected
to result in, a Material Adverse Effect; and

                                       47
<Page>

     (e)  any change in the Company's senior unsecured debt rating from S&P or
Moody's or in its corporate credit rating from S&P.

     Section 5.06. INFORMATION REGARDING COLLATERAL. (a) In the case of the
Company, furnish to the Collateral Agent prompt written notice of any change in
(i) the Company's or any Subsidiary Guarantor's legal name or domicile, (ii) the
Company's or any Subsidiary Guarantor's identity or corporate structure or (iii)
the Company's or any Subsidiary Guarantor's Federal Taxpayer Identification
Number. The Company will not, and will not permit any Subsidiary Guarantor to,
effect or permit any change referred to in the preceding sentence unless all
filings are made under the Uniform Commercial Code and all other actions are
taken that are required in any such case within the time frame specified in the
Security Agreement or (if not so specified) as required by applicable law, so
that such change will not at any time adversely affect the validity, perfection
or priority of any Transaction Lien on any of the Collateral. The Company will
also promptly notify the Collateral Agent if any material portion of the
Collateral is damaged or destroyed.

     (b)  In the case of the Company, at the time annual financial statements
with respect to any Fiscal Year are delivered pursuant to Section 5.04(a),
deliver to the Collateral Agent a certificate of a Financial Officer of the
Company (i) setting forth the information required pursuant to Sections A1 and
A2 of the Perfection Certificate or confirming that there has been no change in
such information since the date of the Perfection Certificate delivered on the
Effective Date or the date of the most recent certificate delivered pursuant to
this subsection other than changes specified in such certificate and (ii)
certifying that all Uniform Commercial Code financing statements or other
appropriate filings, recordings or registrations, including all refilings,
rerecordings and reregistrations, containing a description of the Collateral
have been filed of record in each appropriate office in each jurisdiction
identified pursuant to clause (i) above to the extent required by the terms of
the Security Documents to protect and perfect the Transaction Liens for a period
of at least 18 months after the date of such certificate (except as noted
therein with respect to any continuation statements to be filed within such
period).

     Section 5.07. MAINTAINING RECORDS; ACCESS TO PROPERTIES AND INSPECTIONS.
Maintain all financial records in accordance with GAAP and permit any
representatives designated by the Administrative Agent or any Lender, upon
reasonable prior notice, to visit and inspect the financial records and the
properties of the Company or any Subsidiary at reasonable times and as often as
reasonably requested and to make extracts from and copies of such financial
records, and permit any representatives designated by any Administrative Agent
or any Lender to discuss the affairs, finances and condition of the Company or
any Subsidiary with the officers thereof and independent accountants therefor;
PROVIDED that (i) the Company or such Subsidiary may require that a
representative appointed by it be present at such inspections or discussions and
(ii) the obligations of the Company and its Subsidiaries under this Section are
subject to, and the Administrative Agent and any such Lender shall comply with,
all applicable confidentiality restrictions.

     Section 5.08. USE OF PROCEEDS AND LETTERS OF CREDIT. Use the proceeds of
the Loans and request the issuance of Letters of Credit only for the general
corporate purposes of the Company and its Subsidiaries. No part of the proceeds
of any Loan will be used, whether directly or indirectly, (a) for any purpose
that entails a violation of any of the Regulations of the Board,

                                       48
<Page>

including Regulation T, Regulation U and Regulation X, or (b) in any hostile
acquisition of another Person.

     Section 5.09. COMPLIANCE WITH LAWS. Comply with all applicable laws,
statutes, rules and regulations (including all applicable Environmental Laws)
and obtain, maintain and comply with, in each case in all material respects, any
and all licenses, approvals, notifications, registrations or permits required by
applicable laws, statutes, rules and regulations (including all applicable
Environmental Laws) except to the extent that, in any such case, failure to do
so could not be reasonably expected to have a Material Adverse Effect.

     Section 5.10. ADDITIONAL SUBSIDIARIES. In the case of the Company, if any
additional Subsidiary is formed or acquired after the Effective Date, within ten
Domestic Business Days after such Subsidiary is formed or acquired, notify the
Collateral Agent thereof and, if such Subsidiary is, or an existing Subsidiary
becomes, a Material Subsidiary, cause the Collateral and Guarantee Requirement
to be satisfied with respect to such Material Subsidiary, subject to the
limitations set forth therein and in the Security Agreement.

     Section 5.11. SECURITY DOCUMENTS; FURTHER ASSURANCES. (a) In the case of
the Company and each Subsidiary Guarantor, execute and deliver any and all
further documents, financing statements, agreements and instruments, and take
all such further actions (including the filing and recording of financing
statements and other documents), that may be required under any applicable law,
or that the Collateral Agent or the Required Lenders may reasonably request, to
cause the Collateral and Guarantee Requirement to be and remain satisfied, all
at the Company's expense. The Company will, within 60 days after the Effective
Date, provide to the Collateral Agent the results of a search of the Uniform
Commercial Code (or equivalent) filings made with respect to the Credit Parties
in the jurisdictions contemplated by the Perfection Certificate and copies of
the financing statements (or similar documents) disclosed by such search and
evidence reasonably satisfactory to the Collateral Agent that the Liens
indicated by such financing statements (or similar documents) are permitted by
Section 6.01 or have been released.

     (b)  In the case of the Company and each Subsidiary Guarantor, if any
material assets are acquired by the Company or any Subsidiary Guarantor after
the Effective Date (other than (i) assets constituting Collateral that become
subject to Transaction Liens upon acquisition thereof, (ii) any Principal
Property (as defined in the Indenture) or any stock or indebtedness of any
Restricted Subsidiary (as such terms are used in the Indenture) or (iii) other
real property which is not owned in fee), notify the Collateral Agent thereof,
and, if requested by the Collateral Agent or the Required Lenders, cause such
assets to be subjected to a Transaction Lien securing the Secured Obligations
and take such actions, or cause such Subsidiary Guarantor to take such actions,
as shall be necessary or reasonably requested by the Collateral Agent to grant
and perfect or record such Transaction Lien, including actions described in this
Section 5.11, all at the Company's expense; PROVIDED that the Company shall not
be required to take such action if doing so, in its reasonable judgment, would
require equally and ratably securing the bonds issued under the Indenture.

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<Page>

                                    ARTICLE 6
                               NEGATIVE COVENANTS

     Until the Commitments have expired or terminated and the principal of and
interest on each Loan and all fees payable hereunder have been paid in full and
all Letters of Credit have expired or terminated and all LC Disbursements shall
have been reimbursed, the Company covenants and agrees with the Lenders that it
will not, and will not cause or permit any of its Subsidiaries to:

     Section 6.01. NEGATIVE PLEDGE. Create, incur, assume or permit to exist any
Lien on any property or assets (including stock or other securities of
Subsidiaries) now owned or hereafter acquired by it or on any income or rights
in respect of any thereof, except:

     (a)  Transaction Liens;

     (b)  Liens imposed by law for taxes that are not yet due or are being
contested in compliance with Section 5.03;

     (c)  carriers', warehousemen's, mechanics', materialmen's, repairmen's and
other like Liens imposed by law, arising in the ordinary course of business and
securing obligations that are not overdue by more than 30 days or are being
contested in compliance with Section 5.03;

     (d)  pledges and deposits and other Liens made in the ordinary course of
business in compliance with workers' compensation, unemployment insurance and
other social security laws or regulations;

     (e)  Liens (including deposits) to secure the performance of bids, tenders,
trade contracts, leases, statutory obligations, surety and appeal bonds,
performance bonds and other obligations of like nature, in each case in the
ordinary course of business;

     (f)  easements, zoning restrictions, rights-of-way and similar encumbrances
on real property imposed by law or arising in the ordinary course of business
that do not secure any monetary obligations and do not materially detract from
the value of the affected property or interfere materially with the ordinary
conduct of business of the Company or any Subsidiary;

     (g)  any Lien existing on any property or asset prior to the acquisition
thereof by the Company or any Subsidiary; PROVIDED that (i) such Lien is not
created in contemplation of or in connection with such acquisition and (ii) such
Lien does not apply to any other property or assets of the Company or any
Subsidiary;

     (h)  Liens (including deposits) in connection with self-insurance;

     (i)  judgment or other similar Liens in connection with legal proceedings
in an aggregate principal amount (net of amounts for which relevant insurance
providers have delivered written acknowledgements of coverage) not to exceed
$125,000,000, PROVIDED that the execution or other enforcement of such liens is
effectively stayed and the claims secured thereby are being actively contested
in good faith by appropriate proceedings;

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<Page>

     (j)  Liens arising in connection with advances or progress payments under
government contracts;

     (k)  Liens on assets of Subsidiaries securing Indebtedness payable to the
Company or any Wholly-Owned Consolidated Subsidiary; and

     (l)  Liens securing Indebtedness (other than Indebtedness described in
paragraphs (a) through (k) above) to the extent and only to the extent that the
aggregate amount of Priority Indebtedness shall not exceed $200,000,000 at any
time.

     Section 6.02. SALE AND LEASE-BACK TRANSACTIONS. Enter into any arrangement,
directly or indirectly, with any Person whereby it shall sell or transfer any
property, real or personal, used or useful in its business, whether now owned or
hereafter acquired, and thereafter rent or lease such property or other property
which it intends to use for substantially the same purpose or purposes as the
property being sold or transferred (a "SALE AND LEASE-BACK TRANSACTION"),
unless, after giving effect to such Sale and Lease-Back Transaction, the
aggregate amount of Priority Indebtedness shall not exceed $200,000,000, except
that the Company or any Subsidiary may enter into Sale and Lease-Back
Transactions without restriction if the property subject to such Sale and
Lease-Back Transaction was purchased by the Company or any Subsidiary within six
months of the date of such Sale and Leaseback Transaction.

     Section 6.03. MERGERS, CONSOLIDATIONS, AND SALES OF ASSETS. In the case of
the Company and any Significant Subsidiary, merge with or into or consolidate
with any other Person, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) all or any substantial part of its
assets (whether now owned or hereafter acquired), except (a) that the Company
and any Significant Subsidiary may sell inventory or receivables in the ordinary
course of business, (b) that if at the time thereof and immediately after giving
effect thereto no Default has occurred and is continuing (i) any Significant
Subsidiary which is not a Subsidiary Guarantor may merge with or into, or sell,
transfer, lease or otherwise dispose of all or any substantial part of its
assets to, the Company or a Wholly-Owned Consolidated Subsidiary; PROVIDED that
such Wholly-Owned Consolidated Subsidiary shall thereafter be deemed a
Significant Subsidiary hereunder and (ii) any Subsidiary may merge with or into,
or sell, transfer, lease or otherwise dispose of all or any substantial part of
its assets to the Company or any Subsidiary Guarantor and (iii) any Credit Party
or any other Significant Subsidiary may merge with or into or consolidate with
any other Person if the surviving corporation in such merger or consolidation
shall be such Credit Party or such Significant Subsidiary; PROVIDED that in each
case under clause (b) above the Company shall have delivered to the Banks a
certificate of a Financial Officer of the Company and an opinion of counsel for
the Company, each stating that such consolidation, merger, sale, transfer, lease
or other disposition complies with this Section 6.03 and that all conditions
precedent herein provided for relating to such transaction have been complied
with and (c) as otherwise permitted by Section 5.01(a); and PROVIDED FURTHER
that it is understood that this Section 6.03 does not place any restriction on
securitization transactions which are not otherwise prohibited hereunder.

     Section 6.04. OBLIGATIONS OF SUBSIDIARIES. In the case of the Subsidiaries,
incur, create, assume or permit to exist any Indebtedness if, after giving
effect thereto, Priority Indebtedness would exceed $200,000,000.

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<Page>

     Section 6.05. AMENDMENTS OF CERTAIN AGREEMENTS. In any respect material and
adverse to the Lenders, amend, modify, supplement or waive any of the provisions
of any instrument evidencing or relating to any subordinated Indebtedness unless
such amendment, modification, supplement or waiver is approved in writing by the
Required Lenders.

     Section 6.06. SWAP AGREEMENTS. Enter into any Swap Agreement, except (a)
Swap Agreements entered into to hedge or mitigate risks to which the Company or
any Subsidiary has actual exposure (other than those in respect of Equity
Interests of the Company or any of its Subsidiaries), and (b) Swap Agreements
entered into in order to effectively cap, collar or exchange interest rates
(from fixed to floating rates, from one floating rate to another floating rate
or otherwise) with respect to any interest-bearing liability or investment of
the Company or any Subsidiary.

     Section 6.07. RESTRICTIVE AGREEMENTS. Directly or indirectly, enter into,
incur or permit to exist any agreement or other arrangement that prohibits,
restricts or imposes any condition upon (a) the ability of the Company or any
Subsidiary to create, incur or permit to exist any Lien upon any of its property
or assets securing the Secured Obligations or (b) the ability of any Subsidiary
to pay dividends or other distributions with respect to any shares of its
capital stock or to make or repay loans or advances to the Company or any other
Subsidiary or to Guarantee Indebtedness of the Company or any other Subsidiary;
PROVIDED that (i) the foregoing shall not apply to restrictions and conditions
imposed by law or by the Loan Documents, (ii) the foregoing shall not apply to
restrictions and conditions existing on the date hereof identified on Schedule
6.07 (or any extension or renewal of, or any amendment or modification to, or
any other restriction or condition contained in the agreements governing future
Indebtedness of the Company that is substantially identical in substance to,
such restriction or condition that does not expand the scope of such restriction
or condition), (iii) the foregoing shall not apply to customary restrictions and
conditions contained in agreements relating to the sale of a Subsidiary or other
asset pending such sale, provided such restrictions and conditions apply only to
the Subsidiary or other asset that is to be sold and such sale is permitted
hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to assets securing any
Indebtedness, (v) clause (a) of the foregoing shall not apply to customary
provisions in leases and other contracts restricting the assignment thereof and
(vi) clause (b) of the foregoing shall not apply to customary restrictions
contained in senior unsecured notes or bonds issued by the Company.

     Section 6.08. OWNERSHIP OF SIGNIFICANT SUBSIDIARIES. Cease to maintain at
any time direct or indirect ownership of securities or other ownership interests
representing not less than the greater of (a) a majority of the ordinary voting
power of each Significant Subsidiary and (b) such voting power as provides
effective control of the policy and direction of each Significant Subsidiary.

     Section 6.09. FUNDAMENTAL CHANGES. Engage to any material extent in any
business except businesses of the types conducted by the Borrowers and their
respective Subsidiaries on the date of this Agreement and businesses reasonably
related thereto.

     Section 6.10. UNRESTRICTED SUBSIDIARIES. In the case of the Company, (i)
permit any Unrestricted Subsidiary (or any Subsidiary formed or acquired after
the Effective Date) to be

                                       52
<Page>

designated as a Restricted Subsidiary or (ii) permit any Unrestricted Subsidiary
to merge or consolidate with or into, or sell, transfer, lease or otherwise
dispose of (in one transaction or in a series of transactions) all or any
substantial part of its assets (whether now owned or hereafter acquired) to any
other Subsidiary except (x) dispositions of assets in the ordinary course of
business or (y) a transaction otherwise permitted hereunder in which an
Unrestricted Subsidiary is the resulting, surviving or transferee entity.

                                    ARTICLE 7
                               FINANCIAL COVENANTS

     Section 7.01. NET WORTH. The Company will not permit Net Worth to be at any
time less than the sum of (a) $1,150,000,000 PLUS (b) an amount equal to 25% of
the sum of the amounts of Consolidated Net Income for each of the fiscal
quarters commencing after September 29, 2002 to and including the most recent
fiscal quarter ended prior to the date on which the calculation of Net Worth is
made (without including any fiscal quarter in which such Consolidated Net Income
is a negative number) plus (c) an amount equal to 75% of the amount by which Net
Worth shall have been increased by any issuance of any capital stock by the
Company occurring after September 29, 2002.

     Section 7.02. LEVERAGE. The Company will not permit the ratio of (a) the
sum of Consolidated Indebtedness and Securitization Financing to (b) the sum of
Consolidated Indebtedness, Securitization Financing and Net Worth to be at any
time greater than 0.55 to 1.0.

     Section 7.03. COVERAGE RATIO. The Company will not permit the ratio of (a)
Consolidated EBITDA minus Capital Expenditures to (b) Consolidated Interest
Expense, for any period of four consecutive fiscal quarters ending on any date
on or after the Effective Date, to be less than 1.50:1.

                                    ARTICLE 8
                                EVENTS OF DEFAULT

     If any of the following events ("EVENTS OF DEFAULT") shall occur:

     (a)  any representation or warranty made, or deemed made, in or in
connection with the Loan Documents or the Borrowings hereunder, or any
representation, warranty, statement or information contained in any report,
certificate, financial statement or other instrument furnished in connection
with or pursuant to the Loan Documents, shall prove to have been false or
misleading in any material respect when so made, deemed made or furnished;

     (b)  default shall be made in the payment of any principal of any Loan or
any reimbursement obligation in respect of any LC Disbursement when and as the
same shall become due and payable, whether at the due date thereof or at a date
fixed for prepayment thereof or pursuant to any provision of the Loan Documents
or otherwise;

                                       53
<Page>

     (c)  default shall be made in the payment of any interest on any Loan or
any fee or any other amount (other than an amount referred to in (b) above) due
under the Loan Documents, when and as the same shall become due and payable, and
such default shall continue unremedied for a period of five Domestic Business
Days;

     (d)  default shall be made in the due observance or performance by the
Company or any Subsidiary of any covenant, condition or agreement contained in
Section 5.05(a) or Section 5.05(b), Section 5.08, Article 6 or Article 7 and
such default shall continue unremedied for a period of five Domestic Business
Days after the earlier of (i) a Financial Officer of the Company becoming aware
thereof and (ii) notice thereof from the Administrative Agent or any Lender to
the Company;

     (e)  default shall be made in the due observance or performance by the
Company or any Subsidiary of any covenant, condition or agreement contained in
the Loan Documents (other than those specified in (b), (c) or (d) above) and
such default shall continue unremedied for a period of ten Domestic Business
Days after notice thereof from the Administrative Agent or any Lender to the
Company;

     (f)  the Company or any Subsidiary shall (i) fail to pay any of its
Indebtedness in excess of $10,000,000 in the aggregate when due and such failure
shall continue after the applicable grace period, if any, specified in the
agreement or instrument relating to such Indebtedness or (ii) fail to observe or
perform any term, covenant or condition on its part to be observed or performed
under any agreement or instrument relating to any such Indebtedness, when
required to be observed or performed, and such failure shall continue after the
applicable grace period, if any, specified in such agreement or instrument, if
the effect of such failure is to accelerate, or permit the acceleration of, the
maturity of such Indebtedness or such Indebtedness has been accelerated and such
acceleration has not been rescinded; or any amount of Indebtedness in excess of
$10,000,000 shall be required to be prepaid, defeased, purchased or otherwise
acquired by the Company or any Subsidiary (other than by a regularly scheduled
required prepayment and other than secured Indebtedness that becomes due as a
result of the voluntary transfer of assets securing such Indebtedness), prior to
the stated maturity thereof;

     (g)  an involuntary proceeding shall be commenced or an involuntary
petition shall be filed in a court of competent jurisdiction seeking (i) relief
in respect of the Company or any Subsidiary, or of a substantial part of the
property or assets of the Company or any Subsidiary, under Title 11 of the
United States Code, as now constituted or hereafter amended, or any other
Federal or state bankruptcy, insolvency, receivership or similar law, (ii) the
appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official for the Company or any Subsidiary, or for a substantial part of
the property or assets of the Company or any Subsidiary, or (iii) the winding-up
or liquidation of the Company or any Subsidiary; and such proceeding or petition
shall continue undismissed for 60 days, or an order or decree approving or
ordering any of the foregoing shall be entered;

     (h)  the Company or any Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking relief under Title 11 of the United
States Code, as now constituted or hereafter amended, or any other Federal or
state bankruptcy, insolvency, receivership or similar law, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any

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proceeding or the filing of any petition described in (g) above, (iii) apply for
or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Company or any Subsidiary, or for a
substantial part of the property or assets of the Company or any Subsidiary,
(iv) file an answer admitting the material allegations of a petition filed
against it in any such proceeding, (v) make a general assignment for the benefit
of creditors, (vi) admit in writing its inability or fail generally to pay its
debts as they become due or (vii) take any action for the purpose of effecting
any of the foregoing;

     (i)  one or more judgments for the payment of money in an aggregate amount
in excess of $10,000,000 shall be rendered against the Company, any Subsidiary
or any combination thereof and the same shall remain undischarged for a period
of 30 consecutive days during which execution shall not be effectively stayed;

     (j)  a Change in Control shall occur;

     (k)  the provisions of Article 11 shall cease to constitute valid, binding
and enforceable obligations of the Company for any reason, or the Company or any
Eligible Subsidiary shall have so asserted in writing;

     (l)  an ERISA Event shall have occurred that, when taken together with all
other ERISA Events that have occurred, could reasonably be expected to result in
a Material Adverse Effect; or

     (m)  any Lien purported to be created under any Security Document shall
cease to be, or shall be asserted in writing by the Company or any Subsidiary
Guarantor not to be, a valid and perfected Lien on Collateral having a value of
$5,000,000 or more, with the priority required by the applicable Security
Document, except (i) as a result of a sale or other disposition of the
applicable Collateral in a transaction permitted under the Loan Documents or
(ii) as a result of the Collateral Agent's failure to maintain possession of any
stock certificates, promissory notes or other documents delivered to it under
the Security Agreement or to file continuation statements; or

     (n)  any Subsidiary Guarantor's Secured Guarantee shall cease to constitute
a valid and binding obligation of such Subsidiary Guarantor or any Credit Party
shall so assert in writing.

then, and in every such event (other than an event with respect to any Borrower
described in paragraph (g) or (h) above), and at any time thereafter during the
continuance of such event, the Administrative Agent shall, at the request of the
Required Lenders, by notice to the Company, take either or both of the following
actions at the same or different times: (i) terminate forthwith the Commitments
and (ii) declare the Loans then outstanding to be forthwith due and payable,
whereupon the principal of the Loans, together with accrued interest thereon and
any unpaid accrued fees and all other liabilities of any Borrower accrued
hereunder, shall become forthwith due and payable, without presentment, demand,
protest or any other notice of any kind, all of which are hereby expressly
waived by each Borrower, anything contained herein to the contrary
notwithstanding; and upon the occurrence of any event described in paragraph (g)
or (h) above with respect to any Borrower, the Commitments shall automatically
terminate and the principal of all Loans then outstanding, together with accrued
interest thereon and any unpaid accrued fees

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and all other liabilities of the Borrowers accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or
any other notice of any kind, all of which are hereby expressly waived by each
Borrower, anything contained herein to the contrary notwithstanding.

                                    ARTICLE 9
                                   THE AGENTS

     Section 9.01. APPOINTMENT AND AUTHORIZATION OF ADMINISTRATIVE AGENT. Each
of the Lenders and the Issuing Bank hereby irrevocably appoints each of the
Administrative Agent and the Collateral Agent as its agent and authorizes them
to take such actions on its behalf and to exercise such powers as are delegated
to them by the terms of the Loan Documents (including with respect to the
Collateral Agent, to sign and deliver the Security Documents), together with
such actions and powers as are reasonably incidental thereto. Without limiting
the foregoing, each Lender and the Issuing Bank hereby agrees to the
restrictions set forth in Section 26 of the Security Agreement. References in
this Article 9, other than Sections 9.06 and 9.08, to the Administrative Agent
shall be deemed to include a reference to the Collateral Agent.

     Section 9.02. RIGHTS AND POWERS OF ADMINISTRATIVE AGENT AS A LENDER. The
bank serving as the Administrative Agent hereunder shall have the same rights
and powers in its capacity as a Lender as any other Lender and may exercise the
same as though it were not the Administrative Agent, and such bank and its
Affiliates may accept deposits from, lend money to and generally engage in any
kind of business with the Company or any Subsidiary or other Affiliate thereof
as if it were not the Administrative Agent hereunder.

     Section 9.03. LIMITED DUTIES AND RESPONSIBILITIES OF ADMINISTRATIVE AGENT.
The Administrative Agent shall not have any duties or obligations except those
expressly set forth in the Loan Documents. Without limiting the generality of
the foregoing, (a) the Administrative Agent shall not be subject to any
fiduciary or other implied duties, regardless of whether a Default has occurred
and is continuing, (b) the Administrative Agent shall not have any duty to take
any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby that the
Administrative Agent is required to exercise in writing as directed by the
Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 12.02) and (c) except
as expressly set forth in any Loan Document, the Administrative Agent shall not
have any duty to disclose, and shall not be liable for the failure to disclose,
any information relating to the Company or any of its Subsidiaries that is
communicated to or obtained by the bank serving as Administrative Agent or any
of its Affiliates in any capacity. The Administrative Agent shall not be liable
for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as shall
be necessary under the circumstances as provided in Section 12.02) or in the
absence of its own gross negligence or willful misconduct. The Administrative
Agent shall be deemed not to have knowledge of any Default unless and until
written notice thereof is given to the Administrative Agent by the Company or a
Lender, and the Administrative Agent shall not be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with any Loan Document, (ii) the contents of any
certificate, report or other

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document delivered under any Loan Document or in connection therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document, (iv) the validity, enforceability,
effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document or (v) the satisfaction of any condition set forth in
Article 4 or elsewhere in any Loan Document, other than to confirm receipt of
items expressly required to be delivered to the Administrative Agent.

     Section 9.04. AUTHORITY OF ADMINISTRATIVE AGENT TO RELY ON CERTAIN
WRITINGS, STATEMENTS AND ADVICE. The Administrative Agent shall be entitled to
rely upon, and shall not incur any liability for relying upon, any notice,
request, certificate, consent, statement, instrument, document or other writing
believed by it to be genuine and to have been signed or sent by the proper
Person. The Administrative Agent also may rely upon any statement made to it
orally or by telephone and believed by it to be made by the proper Person, and
shall not incur any liability for relying thereon. The Administrative Agent may
consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts.

     Section 9.05. SUB-AGENTS AND RELATED PARTIES. The Administrative Agent may
perform any and all its duties and exercise its rights and powers by or through
any one or more sub-agents appointed by the Administrative Agent. The
Administrative Agent and any such sub-agent may perform any and all its duties
and exercise its rights and powers through their respective Related Parties. The
exculpatory provisions of the preceding paragraphs shall apply to any such
sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the
syndication of the credit facilities provided for herein as well as activities
as Administrative Agent.

     Section 9.06. RESIGNATION; SUCCESSOR ADMINISTRATIVE AGENT. Subject to the
appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the
Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the
Required Lenders shall have the right, in consultation with the Company, to
appoint a successor. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after
the retiring Administrative Agent gives notice of its resignation, then the
retiring Administrative Agent may, on behalf of the Lenders and the Issuing
Bank, appoint a successor Administrative Agent which shall be a bank with an
office in New York, New York, or an Affiliate of any such bank. Upon the
acceptance of its appointment as Administrative Agent hereunder by a successor,
such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations
hereunder. The fees payable by the Company to a successor Administrative Agent
shall be the same as those payable to its predecessor unless otherwise agreed
between the Company and such successor. After the Administrative Agent's
resignation hereunder, the provisions of this Article and Section 12.03 shall
continue in effect for the benefit of such retiring Administrative Agent, its
sub-agents and their respective Related Parties in respect of any actions taken
or omitted to be taken by any of them while it was acting as Administrative
Agent.

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     Section 9.07. CREDIT DECISIONS BY LENDERS. Each Lender acknowledges that it
has, independently and without reliance upon the Administrative Agent or any
other Lender and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this
Agreement. Each Lender also acknowledges that it will, independently and without
reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or based
upon the Loan Documents, any related agreement or any document furnished
hereunder or thereunder.

     Section 9.08. ADMINISTRATIVE AGENT'S FEE. The Company agrees to pay to the
Administrative Agent, for its own account, fees payable in the amounts and at
the times separately agreed upon between the Company and the Administrative
Agent.

     Section 9.09. OTHER AGENTS. Nothing in the Loan Documents shall impose on
any Agent other than the Administrative Agent and the Collateral Agent, in their
capacity as such Agent, any obligation or liability whatsoever.

                                   ARTICLE 10
             REPRESENTATIONS AND WARRANTIES OF ELIGIBLE SUBSIDIARIES

     Each Eligible Subsidiary shall be deemed by the execution and delivery of
its Election to Participate to have represented and warranted as of the date
thereof that:

     Section 10.01. ORGANIZATION; POWERS. Such Eligible Subsidiary (a) is duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, (b) has the power and authority to execute,
deliver and perform its obligations hereunder and under each other agreement or
instrument contemplated thereby to which it is or will be a party and to borrow
hereunder and (c) is a Wholly-Owned Consolidated Subsidiary.

     Section 10.02. AUTHORIZATION. The Transactions and the execution and
delivery by such Eligible Subsidiary of its Election to Participate and the
performance by such Eligible Subsidiary of this Agreement, (a) have been duly
authorized by all requisite corporate, partnership, limited liability company or
analogous and, if required, stockholder, partner, member or analogous action and
(b) will not (i) materially violate any provision of law, statute, rule or
regulation, or of the certificate or articles of incorporation or other
constitutive documents or by-laws of the Company or any Subsidiary, (ii)
materially violate any order of any Governmental Authority or (iii) materially
violate any provision of any material indenture, agreement or other instrument
to which the Company or any Subsidiary is a party or by which any of them or any
of their property is or may be bound, (iv) be in material conflict with, result
in a breach of or constitute (alone or with notice or lapse of time or both) a
material default under any such indenture, agreement or other instrument or (v)
result in the creation or imposition of any Lien (other than the Transaction
Liens) upon any property or assets of the Company or any Subsidiary.

     Section 10.03. ENFORCEABILITY. Its Election to Participate has been duly
executed and delivered by such Eligible Subsidiary, and this Agreement
constitutes a legal, valid and binding

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obligation of such Eligible Subsidiary enforceable against such Eligible
Subsidiary in accordance with its terms.

     Section 10.04. TAXES. Except as disclosed in such Election to Participate,
there is no income, stamp or other tax of any country, or any taxing authority
thereof or therein, imposed by or in the nature of withholding or otherwise,
which is imposed on any payment to be made by such Eligible Subsidiary pursuant
hereto, or is imposed on or by virtue of the execution, delivery or enforcement
of its Election to Participate.

                                   ARTICLE 11
                                    GUARANTY

     Section 11.01. THE GUARANTY. The Company hereby unconditionally and
absolutely guarantees the full and punctual payment (whether at stated maturity,
upon acceleration or otherwise) of the principal of and interest on each Loan
made to and each obligation to reimburse any LC Disbursement incurred by each
Borrower (other than the Company) pursuant to this Agreement, and the full and
punctual payment of all other amounts payable by each Borrower (other than the
Company) under this Agreement. Upon failure by any Borrower (other than the
Company) to pay punctually any such amount, the Company shall forthwith on
demand pay the amount not so paid at the place and in the manner specified in
this Agreement.

     Section 11.02. GUARANTY UNCONDITIONAL. The obligations of the Company
hereunder shall be unconditional and absolute and, without limiting the
generality of the foregoing, shall not be released, discharged or otherwise
affected by:

     (a)  any extension, renewal, settlement, compromise, waiver or release in
respect of any obligation of any Borrower, any Subsidiary Guarantor or any other
Person under any Loan Document or by operation of law or otherwise;

     (b)  any modification or amendment of or supplement to any Loan Document;

     (c)  any release, impairment, non-perfection or invalidity of any direct or
indirect security for any obligation of any Borrower, any Subsidiary Guarantor
or any other Person under any Loan Document;

     (d)  any change in the corporate existence, structure or ownership of any
Borrower, any Subsidiary Guarantor or any other Person or any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Borrower,
any Subsidiary Guarantor or any other Person or its assets or any resulting
release or discharge of any obligation of any Borrower, any Subsidiary Guarantor
or any other Person contained in any Loan Document;

     (e)  the existence of any claim, set-off or other rights which the Company
may have at any time against any Borrower, any Subsidiary Guarantor, the
Administrative Agent, any Lender or any other Person, whether in connection
herewith or any unrelated transactions; PROVIDED that nothing herein shall
prevent the assertion of any such claim by separate suit or compulsory
counterclaim;

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     (f)  any invalidity or unenforceability relating to or against any
Borrower, any Subsidiary Guarantor or any other Person for any reason of any
Loan Document, or any provision of applicable law or regulation purporting to
prohibit the payment by any Borrower of the principal of or interest or any
other amount payable by it under any Loan Document; or

     (g)  any other act or omission to act or delay of any kind by any Borrower,
any Subsidiary Guarantor, the Administrative Agent, any Lender or any other
Person or any other circumstance whatsoever which might, but for the provisions
of this paragraph, constitute a legal or equitable discharge of the Company's
obligations hereunder (in each case other than payment in full of the
obligations guaranteed hereunder).

     Section 11.03. DISCHARGE ONLY UPON PAYMENT IN FULL; REINSTATEMENT IN
CERTAIN CIRCUMSTANCES. The Company's obligations hereunder shall remain in full
force and effect until the Commitments shall have terminated and the principal
of and interest on the Loans and all other amounts payable hereunder by the
Company and each Borrower under this Agreement shall have been paid in full and
all LC Disbursements shall have been reimbursed. If at any time any payment of
the principal of or interest on any Loan or any other amount payable by any
Borrower under this Agreement is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of any Borrower or
otherwise, the Company's obligations hereunder with respect to such payment
shall be reinstated at such time as though such payment had been due but not
made at such time.

     Section 11.04. WAIVER BY THE COMPANY. The Company irrevocably waives
acceptance hereof, presentment, demand, protest and any notice not provided for
herein, as well as any requirement that at any time any action be taken by any
Person against any Borrower or any other Person.

     Section 11.05. SUBROGATION. Upon making any payment with respect to any
Borrower hereunder, the Company shall be subrogated to the rights of the payee
against such Borrower with respect to such payment; PROVIDED that the Company
shall not enforce any payment by way of subrogation unless all amounts of
principal of and interest on the Loans to such Borrower and all other amounts
payable by such Borrower under this Agreement have been paid in full.

     Section 11.06. STAY OF ACCELERATION. If acceleration of the time for
payment of any amount payable by any Borrower under this Agreement is stayed
upon insolvency, bankruptcy or reorganization of such Borrower, all such amounts
otherwise subject to acceleration under the terms of this Agreement shall
nonetheless be payable by the Company hereunder forthwith on demand by the
Administrative Agent made at the request of the Required Lenders.

     Section 11.07. CONTINUING GUARANTEE. The Company's Guarantee hereunder is a
continuing guarantee, shall be binding on the Company and its successors and
assigns, and shall be enforceable by the Lenders . If all or part of any
Lender's interest in any obligation guaranteed by the Company is assigned or
otherwise transferred, the transferor's rights under the Company's guarantee, to
the extent applicable to the obligation so transferred, shall automatically be
transferred with such obligation.

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                                   ARTICLE 12
                                  MISCELLANEOUS

     Section 12.01. NOTICES. (a) Except in the case of notices and other
communications expressly permitted to be given by telephone (and subject to
paragraph (b) below), all notices and other communications provided for herein
shall be in writing and shall be delivered by hand or overnight courier service,
mailed by certified or registered mail or sent by facsimile, as follows:

          (i)    if to the Company, to it at Cummins Inc., 500 Jackson Street,
     Box 3005, Columbus, Indiana 47202-3005, Attention of Vice
     President-Treasurer (Facsimile No. (812) 377-3347);

          (ii)   if to any other Borrower or Eligible Subsidiary, to it care of
     the Company;

          (iii)  if to the Administrative Agent:

                   (A)  if such notice is required by the terms hereof to be
          given to the Administrative Agent at its London office, to J.P. Morgan
          Europe Limited, 125 London Wall, London EC24 5AJ, Attention of Steve
          Clark/Nichola Hall, (Facsimile No. 44 207 777 2360), with a copy to
          JPMorgan Chase Bank, 270 Park Avenue, New York, New York 10017,
          Attention of Frank Giacalone (Facsimile No. 212-552-5650);

                   (B)  otherwise to JPMorgan Chase Bank, 1 Chase Manhattan
          Plaza, New York, New York 10081, Attention of Frank Giacalone
          (Facsimile No. 212-552-5650);

          (iv)   if to the Issuing Bank, to it at JPMorgan Chase Bank, 10420
     Highland Manor Drive, Tampa, Florida 33610, Attention of Standby LC Dept.
     James Alonzo/Ralph Davis (Facsimile No. 813-432-5161);

          (v)    if to the Swingline Lender, to it at JPMorgan Chase Bank, 1
     Chase Manhattan Plaza, New York, New York 10081, Attention of Frank
     Giacalone (Facsimile No. 212-552-5650); and

          (vi)   if to any other Lender, to it at its address (or facsimile
     number) set forth in its Administrative Questionnaire.

     (b)  Notices and other communications to the Lenders hereunder may be
delivered or furnished by electronic communications pursuant to procedures
approved by the Administrative Agent; PROVIDED that the foregoing shall not
apply to notices pursuant to Article 2 unless otherwise agreed by the
Administrative Agent and the applicable Lender. The Administrative Agent or the
Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to
procedures approved by it; PROVIDED that approval of such procedures may be
limited to particular notices or communications.

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     (c)  Any party hereto may change its address or facsimile number for
notices and other communications hereunder by notice to the other parties
hereto. All notices and other communications given to any party hereto in
accordance with the provisions of this Agreement shall be deemed to have been
given on the date of receipt.

     Section 12.02. WAIVERS; AMENDMENTS. (a) No failure or delay by the
Administrative Agent, the Collateral Agent, the Issuing Bank or any Lender in
exercising any right or power under any Loan Document shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power, or
any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other
right or power. The rights and remedies of the Administrative Agent, the
Collateral Agent, the Issuing Bank and the Lenders under the Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of any Loan Document or consent to
any departure by any Borrower or any Subsidiary Guarantor therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of this
Section, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan or issuance of a Letter of Credit shall not
be construed as a waiver of any Default, regardless of whether the
Administrative Agent, any Lender or the Issuing Bank may have had notice or
knowledge of such Default at the time.

     (b)  No Loan Document nor any provision thereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into
(x) in the case of this Agreement, by the Company and the Required Lenders or
(y) in the case of any other Loan Document, by each Credit Party to be bound
thereby and the Administrative Agent or the Collateral Agent, as applicable,
with the consent of the Required Lenders; PROVIDED that no such agreement shall

          (i)    (A) increase the Commitment of any Lender without the written
     consent of such Lender, (B) reduce the principal amount of any Loan or LC
     Disbursement or reduce the rate of interest thereon, or reduce any fees
     payable hereunder, without the written consent of each Lender affected
     thereby, (C) postpone the scheduled date of payment of the principal amount
     of any Loan or LC Disbursement, or any interest thereon, or any fees
     payable hereunder, or reduce the amount of, waive or excuse any such
     payment, or postpone the scheduled date of expiration of any Commitment,
     without the written consent of each Lender affected thereby, (D) change
     Section 2.18(b) or Section 2.18(c) in a manner that would alter the pro
     rata sharing of payments required thereby, without the written consent of
     each Lender, (E) change any of the provisions of this Section or the
     definition of "Required Lenders" or any other provision of any Loan
     Document specifying the number or percentage of Lenders required to waive,
     amend or modify any rights thereunder or make any determination or grant
     any consent thereunder, without the written consent of each Lender, (F)
     release the Company from its guarantee under Article 11 hereof (except as
     expressly permitted by Article 11) or any Subsidiary Guarantor from its
     Secured Guarantee (except as expressly permitted in the Security
     Agreement), or in either case limit its liability in respect of such
     guarantee or (G) release any substantial portion of the Collateral from the
     Transaction Liens (except as expressly provided in the Security Documents);

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          (ii)   amend, modify or otherwise affect the rights or duties of the
     Administrative Agent, the Collateral Agent, the Issuing Bank or the
     Swingline Lender under any Loan Document without the prior written consent
     of the Administrative Agent, the Collateral Agent, the Issuing Bank or the
     Swingline Lender, as the case may be; or

          (iii)  (A) subject any Eligible Subsidiary or Original Subsidiary
     Borrower to any additional obligation without the written consent of such
     Borrower, (B) increase the principal of or rate of interest on any
     outstanding Loan of any Eligible Subsidiary or Original Subsidiary Borrower
     without the written consent of such Borrower, (C) accelerate the stated
     maturity of any outstanding Loan of any Eligible Subsidiary or Original
     Subsidiary Borrower without the written consent of such Borrower or (D)
     change this PROVISO (iii) without the prior written consent of each
     Eligible Subsidiary and each Original Subsidiary Borrower.

     Section 12.03. EXPENSES; INDEMNITY; DAMAGE WAIVER. (a) The Company shall
pay (i) all reasonable out-of-pocket expenses incurred by the Administrative
Agent, the Collateral Agent and their Affiliates, including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent, in connection
with the syndication of the credit facilities provided for herein, the
preparation and administration of the Loan Documents or any amendments,
modifications or waivers of the provisions thereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), (ii) all
reasonable out-of-pocket expenses incurred by the Issuing Bank in connection
with the issuance, amendment, renewal or extension of any Letter of Credit or
any demand for payment thereunder and (iii) all out-of-pocket expenses incurred
by the Administrative Agent, the Collateral Agent, the Issuing Bank or any
Lender, including the fees, charges and disbursements of any counsel for the
Administrative Agent, the Collateral Agent, the Issuing Bank or any Lender, in
connection with the enforcement or protection of its rights in connection with
the Loan Documents, including its rights under this Section, or in connection
with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

     (b)  The Company shall indemnify the Administrative Agent, the Collateral
Agent, the Issuing Bank and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an "INDEMNITEE") against, and
hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against
any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of the Loan Documents or any agreement or instrument
contemplated thereby, the performance by the parties thereto of their respective
obligations thereunder or the consummation of the Transactions or any other
transactions contemplated thereby, (ii) any Loan or Letter of Credit or the use
of the proceeds therefrom (including any refusal by the Issuing Bank to honor a
demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter
of Credit), (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by the Company or any of its
Subsidiaries, or any Environmental Liability related in any way to the Company
or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on

                                       63
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contract, tort or any other theory and regardless of whether any Indemnitee is a
party thereto; PROVIDED that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, liabilities or
related expenses are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee.

     (c)  To the extent that the Company fails to pay any amount required to be
paid by it to the Administrative Agent, the Collateral Agent, the Issuing Bank
or the Swingline Lender under paragraph (a) or (b) of this Section, each Lender
severally agrees to pay to the Administrative Agent, the Collateral Agent, the
Issuing Bank or the Swingline Lender, as the case may be, such Lender's
Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount;
PROVIDED that the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent, the Collateral Agent, the Issuing Bank or the
Swingline Lender in its capacity as such.

     (d)  To the extent permitted by applicable law, the Company shall not
assert, and hereby waives, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed
to direct or actual damages) arising out of, in connection with, or as a result
of, the Loan Documents or any agreement or instrument contemplated thereby, the
Transactions, any Loan or Letter of Credit or the use of the proceeds thereof.

     (e)  All amounts due under this Section shall be payable promptly after
written demand therefor.

     Section 12.04. SUCCESSORS AND ASSIGNS. (a) The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Affiliate of
the Issuing Bank that issues any Letter of Credit), except that (i) the
Borrowers may not assign or otherwise transfer any of their rights or
obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by any Borrower without such consent shall be
null and void) and (ii) no Lender may assign or otherwise transfer its rights or
obligations hereunder except in accordance with this Section. Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns
permitted hereby (including any Affiliate of the Issuing Bank that issues any
Letter of Credit), Participants (to the extent provided in paragraph (c) of this
Section) and, to the extent expressly contemplated hereby, the Related Parties
of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement.

     (b)  (i) Subject to the conditions set forth in paragraph (b)(ii) below,
any Lender may assign to one or more assignees all or a portion of its rights
and obligations under this Agreement (including all or a portion of its
Commitment and the Loans at the time owing to it) with the prior written consent
(such consent not to be unreasonably withheld) of:

                   (A)  the Company; PROVIDED that no consent of the Company
          shall be required for an assignment to a Lender, an Affiliate of a
          Lender, an Approved

                                       64
<Page>

          Fund (as defined below) or, if an Event of Default under paragraph
          (b), (c), (g) or (h) of Article 8 has occurred and is continuing, any
          other assignee; and

                   (B)  the Administrative Agent; PROVIDED that no consent of
          the Administrative Agent shall be required for an assignment to an
          assignee that is a Lender immediately prior to giving effect to such
          assignment.

          (ii)   Assignments shall be subject to the following additional
     conditions:

                   (A)  except in the case of an assignment to a Lender or an
          Affiliate of a Lender or an assignment of the entire remaining amount
          of the assigning Lender's Commitment, the amount of the Commitment of
          the assigning Lender subject to each such assignment (determined as of
          the date the Assignment and Assumption with respect to such assignment
          is delivered to the Administrative Agent) shall not be less than
          $1,000,000 unless each of the Company and the Administrative Agent
          otherwise consent; PROVIDED that no such consent of the Company shall
          be required if an Event of Default under paragraph (b), (c), (g) or
          (h) of Article 8 has occurred and is continuing;

                   (B)  each partial assignment shall be made as an assignment
          of a proportionate part of all the assigning Lender's rights and
          obligations under this Agreement;

                   (C)  the parties to each assignment shall execute and deliver
          to the Administrative Agent an Assignment and Assumption, together
          with a processing and recordation fee of $3,500;

                   (D)  the assignee, if it shall not be a Lender, shall deliver
          to the Administrative Agent an Administrative Questionnaire; and

                   (E)  in the case of an assignment to a CLO (as defined
          below), the assigning Lender shall retain the sole right to approve
          any amendment, modification or waiver of any provision of this
          Agreement, PROVIDED that the Assignment and Assumption between such
          Lender and such CLO may provide that such Lender will not, without the
          consent of such CLO, agree to any amendment, modification or waiver
          described in paragraph (i) of the first proviso to Section 12.02(b)
          that affects such CLO.

                 For the purposes of this Section 12.04(b), the terms "APPROVED
          FUND" and "CLO" have the following meanings:

                 "APPROVED FUND" means (a) a CLO and (b) with respect to any
          Lender that is a fund which invests in bank loans and similar
          extensions of credit, any other fund that invests in bank loans and
          similar extensions of credit and is managed by the same investment
          advisor as such Lender or by an Affiliate of such investment advisor.

                                       65
<Page>

                 "CLO" means any entity (whether a corporation, partnership,
          trust or otherwise) that is engaged in making, purchasing, holding or
          otherwise investing in bank loans and similar extensions of credit in
          the ordinary course of its business and is administered or managed by
          a Lender or an Affiliate of such Lender.

          (iii)  Subject to acceptance and recording thereof pursuant to
     paragraph (b)(iv) of this Section, from and after the effective date
     specified in each Assignment and Assumption the assignee thereunder shall
     be a party hereto and, to the extent of the interest assigned by such
     Assignment and Assumption, have the rights and obligations of a Lender
     under this Agreement, and the assigning Lender thereunder shall, to the
     extent of the interest assigned by such Assignment and Assumption, be
     released from its obligations under this Agreement (and, in the case of an
     Assignment and Assumption covering all of the assigning Lender's rights and
     obligations under this Agreement, such Lender shall cease to be a party
     hereto but shall continue to be entitled to the benefits of Sections 2.14,
     2.15, 2.16, 2.17 and 12.03). Any assignment or transfer by a Lender of
     rights or obligations under this Agreement that does not comply with this
     Section 12.04 shall be treated for purposes of this Agreement as a sale by
     such Lender of a participation in such rights and obligations in accordance
     with paragraph (c) of this Section.

          (iv)   The Administrative Agent, acting for this purpose as an agent
     of the Borrowers, shall maintain at one of its offices a copy of each
     Assignment and Assumption delivered to it and a register for the
     recordation of the names and addresses of the Lenders, and the Commitment
     of, and principal amount of the Loans and LC Disbursements owing to, each
     Lender pursuant to the terms hereof from time to time (the "REGISTER"). The
     entries in the Register shall be conclusive absent manifest error, and each
     Borrower, the Administrative Agent, the Issuing Bank and the Lenders may
     treat each Person whose name is recorded in the Register pursuant to the
     terms hereof as a Lender hereunder for all purposes of this Agreement,
     notwithstanding notice to the contrary. The Register shall be available for
     inspection by the Company, the Issuing Bank and any Lender, at any
     reasonable time and from time to time upon reasonable prior notice.

          (v)    Upon its receipt of a duly completed Assignment and Assumption
     executed by an assigning Lender and an assignee, the assignee's completed
     Administrative Questionnaire (unless the assignee shall already be a Lender
     hereunder), the processing and recordation fee referred to in paragraph (b)
     of this Section and any written consent to such assignment required by
     paragraph (b) of this Section, the Administrative Agent shall accept such
     Assignment and Assumption and record the information contained therein in
     the Register. No assignment shall be effective for purposes of this
     Agreement unless it has been recorded in the Register as provided in this
     paragraph.

     (c)  (i) Any Lender may, without the consent of any Borrower, the
Administrative Agent, the Issuing Bank or the Swingline Lender, sell
participations to one or more banks or other entities (a "PARTICIPANT") in all
or a portion of such Lender's rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it);

                                       66
<Page>

PROVIDED that (A) such Lender's obligations under this Agreement shall remain
unchanged, (B) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations and (C) each Borrower, the
Administrative Agent, the Issuing Bank and the other Lenders shall continue to
deal solely and directly with such Lender in connection with such Lender's
rights and obligations under this Agreement. Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; PROVIDED
that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, modification or waiver
described in paragraph (i) of the first proviso to Section 12.02(b) that affects
such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower
agrees that each Participant shall be entitled to the benefits of Sections 2.14,
2.15, 2.16 and Section 2.17 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section.
To the extent permitted by law, each Participant also shall be entitled to the
benefits of Section 12.08 as though it were a Lender, PROVIDED such Participant
agrees to be subject to Section 2.18(c) as though it were a Lender.

          (ii)   A Participant shall not be entitled to receive any greater
     payment under Section 2.14, 2.16 or 2.17 than the applicable Lender would
     have been entitled to receive with respect to the participation sold to
     such Participant, unless the sale of the participation to such Participant
     is made with the Borrower's prior written consent. A Participant that would
     be a Foreign Lender if it were a Lender shall not be entitled to the
     benefits of Section 2.16 unless the Borrower is notified of the
     participation sold to such Participant and such Participant agrees, for the
     benefit of the Borrower, to comply with Section 2.16(e) as though it were a
     Lender.

     (d)  Any Lender may at any time pledge or assign a security interest in all
or any portion of its rights under this Agreement to secure obligations of such
Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank, and this Section shall not apply to any such pledge or assignment
of a security interest; PROVIDED that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

     Section 12.05. SURVIVAL. All covenants, agreements, representations and
warranties made by the Company and any Borrower herein and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement
shall be considered to have been relied upon by the other parties hereto and
shall survive the execution and delivery of this Agreement and the making of any
Loans and issuance of any Letters of Credit, regardless of any investigation
made by any such other party or on its behalf and notwithstanding that the
Administrative Agent, the Issuing Bank or any Lender may have had notice or
knowledge of any Default or incorrect representation or warranty at the time any
credit is extended hereunder, and shall continue in full force and effect as
long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement is outstanding and unpaid or any
Letter of Credit is outstanding and so long as the Commitments have not expired
or terminated. The provisions of Sections 2.14, 2.15, 2.16, 2.17 and 12.03 and
Article 9 shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of

                                       67
<Page>

the Loans, the expiration or termination of the Letters of Credit and the
Commitments or the termination of this Agreement or any provision hereof.

     Section 12.06. COUNTERPARTS; INTEGRATION; EFFECTIVENESS. This Agreement may
be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when
taken together shall constitute a single contract. This Agreement, the other
Loan Documents and any separate letter agreements with respect to fees payable
to the Administrative Agent constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter
hereof. Except as provided in Section 4.01, this Agreement shall become
effective when it shall have been executed by the Administrative Agent and when
the Administrative Agent shall have received counterparts hereof which, when
taken together, bear the signatures of each of the other parties hereto, and
thereafter shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns. Delivery of an executed counterpart
of a signature page of this Agreement by facsimile shall be effective as
delivery of a manually executed counterpart of this Agreement.

     Section 12.07. SEVERABILITY. Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.

     Section 12.08. RIGHT OF SET-OFF. If an Event of Default shall have occurred
and be continuing, each Lender and each of its Affiliates is hereby authorized
at any time and from time to time, to the fullest extent permitted by law, to
set-off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other obligations at any time owing
by such Lender or Affiliate to or for the credit or the account of the Borrower
against any of and all the obligations of the Borrower now or hereafter existing
under this Agreement held by such Lender, irrespective of whether or not such
Lender shall have made any demand under this Agreement and although such
obligations may be unmatured. The rights of each Lender under this Section are
in addition to other rights and remedies (including other rights of setoff)
which such Lender may have.

     Section 12.09. GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS.
(a) This Agreement shall be construed in accordance with and governed by the law
of the State of New York.

     (b)  Each Borrower hereby irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of the Supreme Court
of the State of New York sitting in New York County and of the United States
District Court of the Southern District of New York, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to any
Loan Document, or for recognition or enforcement of any judgment arising out of
or relating to any Loan Document, and each of the parties hereto hereby
irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to
the extent permitted by law, in such Federal court.

                                       68
<Page>

Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in any Loan
Document shall affect any right that the Administrative Agent, the Issuing Bank
or any Lender may otherwise have to bring any action or proceeding relating to
any Loan Document against any Borrower or Subsidiary Guarantor or its properties
in the courts of any jurisdiction.

     (c)  Each Borrower hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may
now or hereafter have to the laying of venue of any suit, action or proceeding
arising out of or relating to any Loan Document in any court referred to in
paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient
forum to the maintenance of such action or proceeding in any such court.

     (d)  Each party to this Agreement irrevocably consents to service of
process in the manner provided for notices in Section 12.01. Nothing in any Loan
Document will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

     Section 12.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY (WHETHER
BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT
AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     Section 12.11. JUDGMENT CURRENCY. If, under any applicable law and whether
pursuant to a judgment being made or registered against any Borrower or for any
other reason, any payment under or in connection with any Loan Document is made
or satisfied in a currency (the "OTHER CURRENCY") other than that in which the
relevant payment is due (the "REQUIRED CURRENCY") then, to the extent that the
payment (when converted into the Required Currency at the rate of exchange on
the date of payment or, if it is not practicable for the party entitled thereto
(the "Payee") to purchase the Required Currency with the Other Currency on the
date of payment, at the rate of exchange as soon thereafter as it is practicable
for it to do so) actually received by the Payee falls short of the amount due
under the terms of any Loan Document, such Borrower shall, to the extent
permitted by law, as a separate and independent obligation, indemnify and hold
harmless the Payee against the amount of such short-fall. For the purpose of
this Section, "rate of exchange" means the rate at which the Payee is able on
the relevant date to purchase the Required Currency with the Other Currency and
shall take into account any premium and other costs of exchange.

                                       69
<Page>

     Section 12.12. HEADINGS. Article and Section headings and the Table of
Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into
consideration in interpreting, this Agreement.

     Section 12.13. CONFIDENTIALITY. Each of the Administrative Agent, the
Issuing Bank and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to
its and its Affiliates' directors, officers, employees and agents, including
accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and will agree to keep such Information
confidential), (b) to the extent requested by any regulatory authority having
jurisdiction over it, (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party
to this Agreement, (e) in connection with the exercise of any remedies hereunder
or any suit, action or proceeding relating to any Loan Agreement or the
enforcement of rights hereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any assignee
of or Participant in, or any prospective assignee of or Participant in, any of
its rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to
the Borrower and its obligations under this Agreement, (g) with the consent of
the Borrower or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section or (ii) becomes
available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis from a source other than the Borrower. For the purposes of
this Section, "INFORMATION" means all information received from the Borrower
relating to the Borrower or its business, other than any such information that
is available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis prior to disclosure by the Borrower; PROVIDED that, in the
case of information received from the Borrower after the date hereof, such
information is clearly identified at the time of delivery as confidential. Any
Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its own
confidential information.

                                       70
<Page>

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

                                      CUMMINS INC.

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      CUMMINS ENGINE CO. LTD.

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      CUMMINS POWER GENERATION LTD.

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      NEWAGE INTERNATIONAL LIMITED

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                       71
<Page>

                                      JPMORGAN CHASE BANK

                                      as Administrative Agent, Collateral Agent,
                                      Swingline Lender, Issuing Bank and Lender

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      CITICORP USA, INC.

                                      as Syndication Agent and Lender

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      BANK OF AMERICA, N.A.

                                      as Co-Documentation Agent and Lender

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      THE BANK OF NOVA SCOTIA

                                      as Co-Documentation Agent and Lender

                                      By:
                                         -----------------------------
                                          Name:
                                          Title:

                                       72
<Page>

                                      LENDERS:

                                      THE ROYAL BANK OF SCOTLAND plc.

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      THE BANK OF NEW YORK

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      BANK OF TOKYO-MITSUBISHI LTD.

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      THE NORTHERN TRUST COMPANY

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                      EXPORT DEVELOPMENT CANADA

                                      By:
                                         -----------------------------
                                         Name:
                                         Title:

                                       73
<Page>

                                                                   SCHEDULE 1.01

                                PRICING SCHEDULE

     The Applicable Rate means, for any day with respect to any ABR Loan or any
Euro-Currency Loan or with respect to the commitment fees payable hereunder, the
rate set forth below in the row opposite the term "ABR SPREAD," "EURO-CURRENCY
SPREAD" and "COMMITMENT FEE RATE," respectively, and in the column corresponding
to the "PRICING LEVEL" that applies on such day:

<Table>
<Caption>
                                              Level I     Level II    Level III    Level IV     Level V   Level VI
------------------------------------------------------------------------------------------------------------------
<S>                                            <C>         <C>         <C>          <C>         <C>        <C>
Commitment Fee Rate                            0.175%      0.225%       0.25%        0.35%       0.40%      0.50%

Euro-Currency Spread

   Utilization LESS THAN OR EQUAL TO 33.3%     0.875%       1.25%      1.375%        1.75%       2.00%     2.375%
   Utilization GREATER THAN 33.3%               1.00%      1.375%       1.50%       1.875%      2.125%      2.50%

ABR Spread

   Utilization LESS THAN OR EQUAL TO 33.3%      0.00%       0.25%      0.375%        0.75%       1.00%     1.375%
   Utilization GREATER THAN  33.3%              0.00%      0.375%       0.50%       0.875%      1.125%      1.50%
</Table>

     For purposes of this Schedule, the following terms have the following
meanings, subject to the concluding paragraph of this Schedule:

     "LEVEL I PRICING" applies at any date if, at such date, the Company's
senior unsecured long-term debt is rated (x) BBB or higher by S&P and Baa3 or
higher by Moody's or (y) BBB- or higher by S&P and Baa2 or higher by Moody's.

     "LEVEL II PRICING" applies at any date if, at such date, the Company's
senior unsecured long-term debt is rated BBB- by S&P and Baa3 by Moody's.

     "LEVEL III PRICING" applies at any date if, at such date, the Company's
senior unsecured long-term debt is (x) rated BBB- or higher by S&P and Ba1 by
Moody's or (y) BB+ by S&P and Baa3 or higher by Moody's.

     "LEVEL IV PRICING" applies at any date if, at such date, the Company's
senior unsecured long-term debt is rated BB+ by S&P and Ba1 by Moody's.

     "LEVEL V PRICING" applies at any date if, at such date, the Company's
senior unsecured long-term debt is rated BB or higher by S&P and Ba2 or higher
by Moody's and none of Levels I through IV applies.

     "LEVEL VI PRICING" applies at any date if, at such date, no other Pricing
Level applies.

     "PRICING LEVEL" refers to the determination of which of Level I, Level II,
Level III, Level IV, Level V or Level VI Pricing applies at any date.

                                       74
<Page>

     "UTILIZATION" means, on any day, a fraction expressed as a percentage, (i)
the numerator of which is the total Revolving Credit Exposures of all Lenders on
such day, after giving effect to any borrowing or payment on such day, and (ii)
the denominator of which is the aggregate amount of the Commitments on such day,
after giving effect to any reduction of the Commitments on such day.

     The credit ratings to be utilized for purposes of this Schedule are those
assigned by S&P or Moody's to the senior unsecured long-term debt securities of
the Company without third-party credit enhancement, and any rating assigned to
any other debt security of the Company shall be disregarded. The rating in
effect at any date is that in effect at the close of business on such date.
Notwithstanding the definition of Level V Pricing above, if the rating system of
Moody's or S&P shall change, or if either such rating agency shall cease to be
in the business of rating corporate debt obligations, the Company and the
Administrative Agent shall negotiate in good faith to amend this Pricing
Schedule to reflect such changed rating system or the nonavailability of ratings
from such rating agency and, pending the effectiveness of any such amendment,
the Pricing Level shall be determined by reference to the rating most recently
in effect prior to such change or cessation.

                                       75
<Page>

                                                                   SCHEDULE 2.01

                                   COMMITMENTS

<Table>
<Caption>
                                                                     Percentage
                                                                      of Total
                                                 Commitment          Commitment
                                              ----------------       ----------
<S>                                           <C>                        <C>
JPMorgan Chase Bank                           $  70,000,000.00            18%
Citicorp USA, Inc.                            $  70,000,000.00            18%
Bank of America, N.A.                         $  55,000,000.00            14%
The Bank of Nova Scotia                       $  45,000,000.00            11%
The Royal Bank of Scotland plc.               $  35,000,000.00             9%
The Bank of New York                          $  35,000,000.00             9%
Bank of Tokyo-Mitsubishi Ltd.                 $  25,000,000.00             6%
The Northern Trust Company                    $  25,000,000.00             6%
Export Development Canada                     $  25,000,000.00             6%
                                              ----------------           ---
              Total                           $ 385,000,000.00           100%
                                              ----------------           ---
</Table>

                                       76
<Page>

                                                                   SCHEDULE 2.05

                         CUMMINS INC. LETTERS OF CREDIT
                                As of 10/29/2002

<Table>
<Caption>
                                                                                                    EXPIRATION
        ISSUING BANK                  APPLICANT           L/C NUMBER   CURRENCY     VALUE - USD        DATE
---------------------------   ------------------------   ------------  --------   ---------------   ----------
<S>                           <C>                        <C>              <C>     <C>                 <C>
JP Morgan Chase - US          Cummins Inc                  P213038        USD     $    981,000.00     May-03
JP Morgan Chase - US          Cummins Inc                  P215972        USD     $     37,942.00     Jul-03
JP Morgan Chase - US          Cummins Inc                  P216733        USD     $  1,775,000.00     Aug-03
JP Morgan Chase - US          Cummins Inc                  P217656        USD     $  1,000,000.00     Sep-03
JP Morgan Chase - US          COER                         P217658        CAD     $     47,377.50     Sep-03
JP Morgan Chase - US          Cummins Inc                  P225526        USD     $    487,700.00     May-03
JP Morgan Chase - US          Cummins Inc                  P226733        USD     $ 15,903,885.17     Jun-03
JP Morgan Chase - US          Cummins Inc                  P226734        USD     $ 15,903,885.17     Jun-03
JP Morgan Chase - US          Cummins Inc                  P287904        USD     $  3,660,000.00     May-03
JP Morgan Chase - US          Cummins Inc                  P296091        USD     $     23,670.00     Dec-03
JP Morgan Chase - US          Cummins Inc                  P399334        USD     $  1,500,000.00     Jul-03
JP Morgan Chase - US          Cummins Inc                  P854309        USD     $     13,250.00     Nov-02
JP Morgan Chase - US          Onan International Ltd       P854311        USD     $      5,950.00     Feb-02
JP Morgan Chase - US          Cummins Engine Co Ltd        P854312        USD     $     20,735.00     Jul-02
JP Morgan Chase - US          Cummins Inc                  P854315        USD     $    375,436.00     Feb-03
JP Morgan Chase - US          Cummins Inc                  P854317        USD     $  5,436,708.00     Apr-03
JP Morgan Chase - US          Cummins Inc                  P854318        USD     $  1,874,400.00     Apr-03
                                                                                  ---------------
                                                                                  $ 49,046,938.84

JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/600989     USD     $    201,760.00     Sep-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/600990     USD     $     67,874.90     Sep-06
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/600996     USD     $    101,492.00     Oct-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/601010     USD     $      2,226.00     Oct-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/601028     USD     $     10,056.00     Jun-03
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL00/601039     GBP     $  5,810,625.00     Dec-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601186     USD     $     77,300.00     Jul-03
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601208     GBP     $    108,311.60     Aug-03
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601209     GBP     $     42,611.25     Dec-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601228     EUR     $      7,460.73     May-05
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601346     USD     $     79,133.00     Aug-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601353     USD     $     24,761.00     Jun-03
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL01/601355     USD     $     13,696.46     Sep-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL98/600352     EUR     $    856,331.09     Nov-02
JP Morgan Chase - UK          Cummins Engine Co Ltd      PNL99/600668     USD     $     37,564.96     Sep-02
                                                                                  ---------------
                                                                                  $  7,441,203.99

JP Morgan Chase - UK          Cummins PowerGen Ltd       PNL00/600887     USD     $    500,000.00     Jun-06
JP Morgan Chase - UK          Cummins PowerGen Ltd       PNL01/601064     EUR     $     53,819.44     Jan-04
JP Morgan Chase - UK          Cummins PowerGen Ltd       PNL98/600394     GBP     $     10,381.65     Jan-03
JP Morgan Chase - UK          Cummins PowerGen Ltd       PNL99/600579     GBP     $     10,536.60     Oct-02
JP Morgan Chase - UK          Cummins PowerGen Ltd       PNL99/600615     GBP     $      8,932.40     Sep-05
                                                                                  ---------------
                                                                                  $    583,670.09

JP Morgan Chase - UK          Newage International Ltd   PNL01/601155     EUR     $  3,244,588.74     Aug-05
                                                                                  ---------------
                                                                                  $  3,244,588.74

JP Morgan Chase - Singapore   Cummins Inc                                 USD     $     12,402.00
                                                                                  ---------------
                                                                                  $     12,402.00

TOTAL                                                                             $ 60,328,803.66
                                                                                  ===============
</Table>

                                       77
<Page>

<Table>
<Caption>
Exchange Rates
--------------
     <S>              <C>
     USD              1.0000
     CAD              0.6317
     EUR              0.9793
     GBP              1.5495
</Table>

                                       78
<Page>

                                                                   SCHEDULE 3.07

                                  SUBSIDIARIES
                       (Including Percentage of Ownership)

<Table>
<Caption>
                                          RESTRICTED/
DOMESTIC ENTITIES                        UNRESTRICTED         OWNED BY (PERCENTAGE)                      COMMENTS
--------------------------------------   ------------   ---------------------------------   ----------------------------------
<S>                                           <C>       <C>                                 <C>
14-15 Corporation                              R        Cummins Inc. (100%)
A.F. Shane, Inc.                               R        Onan Inc. (100%)
Atlas Crankshaft Corp.                         R        14-15 Corporation (100%)
Cal Disposition, Inc.                         UR        Cummins Inc. (100%)
Cummins Americas, Inc.                        UR        Cummins Inc. (100%)
Cummins Corporation                           UR        Cummins Inc. (100%)
Cummins Diesel Sales Corporation               R        Cummins Inc. (100%)
Cummins Engine Holding Co., Inc.              UR        Cummins Inc. (100%)
Cummins Engine IP, Inc.                        R        Cummins Inc. (100%)                 Material Subsidiary
Cummins Engine Venture Corporation            UR        Cummins Inc. (100%)
Cummins Filtration IP, Inc.                    R        Kuss Corporation (52%)              Material Subsidiary
                                                        Fleetguard, Inc. (48%)
Cummins Financial, Inc.                        R        Cummins Inc. (100%)
Cummins Funding Corporation                    R        Cummins Inc. (100%)
Cummins Intellectual Property, Inc.            R        Cummins Inc. (100%)                 Material Subsidiary
Cummins International Finance Corp.            R        Cummins Inc. (100%)
Cummins Military Systems Company              UR        Cummins Inc. (100%)
Cummins Natural Gas Engines, Inc.              R        Cummins Inc. (100%)
Cummins Power Generation, Inc.                 R        Cummins Inc. (100%)
Cummins PowerGen IP, Inc.                      R        Onan Corporation (100%)             Material Subsidiary
Cummins Receivables Corp.                     UR        Cummins Inc. (100%)                 Material Subsidiary and Exempt SPV
Cummins Venture Corporation                   UR        Cummins Inc. (100%)
Cummins-Scania High Pressure                   R        Cummins Inc. (70%)
Injection, LLC
Dieselcomp, Inc.                               R        Cummins Inc. (100%)
Fleetguard, Inc.                               R        Cummins Inc. (100%)                 Material & Significant Sub
Fleetguard International Corp.                 R        Fleetguard, Inc. (100%)
HPI Company                                    R        Cummins Inc. (100%)
Kuss Corporation                               R        Fleetguard, Inc. (100%)
Lubricant Consultants, Inc.                             Fleetguard, Inc. (100%)
Newage Ltd.                                    R        Newage International Ltd. (100%)
NWMW, Inc.                                     R        Cummins Inc. (100%)
Ona Corporation                                R        Onan Corporation (100%)
Onan Corporation                               R        Cummins Inc. (100%)                 Material Subsidiary & Significant
                                                                                            Subsidiary
Onan Foreign Holdings, Ltd.                    R        Onan Inc. (100%)
Universal Silencer, Inc.                      UR        Cummins Inc. (100%)                 Material Subsidiary
</Table>

                                       79
<Page>

<Table>
<Caption>
                                          RESTRICTED/
INTERNATIONAL ENTITIES                   UNRESTRICTED         OWNED BY (PERCENTAGE)                      COMMENTS
--------------------------------------   ------------   ---------------------------------   ----------------------------------
<S>                                           <C>       <C>                                 <C>
Auto Diesel Power Plant Ltd.                   R        Cummins Power Generation Ltd.
                                                        (100%)
CBM Technologies Pty. Ltd.                    UR        Cummins Engine Company Pty. Ltd.
                                                        (100%)
CECO Diesel                                   UR        No. 379 Taurus Ventures Ltd.
                                                        (90%)
                                                        Northwest Dieselguard Ltd. (10%)
Cummins Auto Services Ltd.                    UR        Cummins Diesel Sales & Service
                                                        (India) Ltd. (100%)
Cummins Brasil Ltda.                           R        Cummins International Finance
                                                        Corp. (100%)
Cummins Comercializadora S. de R.L.            R        Emprasas Cummins S.A. de C.V.
  de C.V.                                               (100%)
Cummins de Centro America Ltda.               UR        Cummins Americas, Inc. (98%)
Cummins Diesel Botswana Ltd.                  UR        Cummins Diesel of South Africa
                                                        (Pty.) Ltd. (100%)
Cummins Diesel Deutschland GmbH               UR        Cummins Diesel Sales Corp. (100%)
Cummins Diesel FZE                            UR        Cummins Engine Company Ltd.
                                                        (100%)
Cummins Diesel International Limited           R        Cummins International Finance
                                                        Corporation (100%)
Cummins Diesel Italia S.P.A.                  UR        Cummins Diesel Sales Corp. (100%)
Cummins Diesel Japan Ltd.                     UR        Cummins Inc. (100%)
Cummins Diesel Limited                        UR        No. 379 Taurus Ventures Ltd.
                                                        (100%)
Cummins Diesel N.V.                           UR        Cummins Diesel Sales Corp. (100%)
Cummins Diesel of Canada Limited               R        Cummins Inc. (100%)
Cummins Diesel Sales and Service               R        Cummins India Ltd. (100%)
  (India) Ltd.
Cummins Diesel Sales and Service              UR        Cummins Korea Ltd. (100%)
  (Korea) Ltd.
Cummins Diesel of South Africa (Pty.)         UR        Cummins International Finance
  Ltd.                                                  Corporation (100%)
Cummins Distributor Belgium S.A. N.V.         UR        Cummins Diesel N.V. (100%)
</Table>

                                       80
<Page>

<Table>
<Caption>
                                          RESTRICTED/
INTERNATIONAL ENTITIES                   UNRESTRICTED         OWNED BY (PERCENTAGE)                      COMMENTS
--------------------------------------   ------------   ---------------------------------   ----------------------------------
<S>                                           <C>       <C>                                 <C>
Cummins Eastern Canada Inc.                    R        Cummins International Finance
                                                        Corporation (100%)
Cummins Engine (Beijing) Co., Ltd.            UR        Cummins Engine (China)
                                                        Investment Co. Ltd. (100%)
Cummins Engine (China) Investment Co.         UR        Cummins Inc. (100%)                 Material Subsidiary
  Ltd.
Cummins Engine Company Limited (NZ)           UR        Cummins Engine Company Pty. Ltd.
                                                        (100%)
Cummins Engine Company Limited (UK)            R        Cummins U.K. Ltd. (100%)
Cummins Engine Company Pty. Limited           UR        Cummins Inc. (100%)                 Material Subsidiary
Cummins Engine Shanghai Services and          UR        Cummins Engine (China)
Trading Co. Ltd.                                        Investment Co. Ltd. (100%)
Cummins Engine (Singapore) Pte. Ltd.          UR        Cummins Diesel Sales Corp. (100%)
Cummins Hong Kong Ltd.                        UR        Cummins International Finance
                                                        Corp. (100%)
Cummins India Holdings Ltd.                   UR        Cummins Inc. (100%)
Cummins India Ltd.                             R        Cummins Inc. (51%)
Cummins Infotech Ltd.                         UR        Cummins Inc. (88%)
                                                        Cummins India Ltd. (12%)
Cummins Korea Ltd.                            UR        Cummins International Finance
                                                        Corp. (100%)
Cummins Mexicana S.A. de C.V.                  R        Cummins Inc. (100%)
Cummins Power Generation Australia             R        Cummins Engine Company Pty. Ltd.
  Pty. Ltd.                                             (100%)
Cummins Power Generation Ltd.                  R        Power Group International Ltd.
                                                        (100%)
Cummins Power Generation Mali S.A.            UR        Cummins Power Generation Ltd.
                                                        (100%)
Cummins Power Generation (S) Pte. Ltd.         R        PGI (Overseas Holdings) B.V.
                                                        (100%)
Cummins Power Rent Comercio, Locacao,         UR        Cummins Brasil Ltda. (60%)
  Ltd.
Cummins Power Rent (SEA) Pte. Ltd.            UR        Cummins International Finance
                                                        Corp. (100%)
Cummins Power Service and Parts               UR        Cummins Hong Kong Ltd. (53%)
Corporation
Cummins Power Solutions Ltd.                  UR        Cummins India Ltd. (100%)
Cummins S. de R.L. de C.V.                     R        Emprasas Cummins S.A. de C.V.
                                                        (100%)
Cummins Sales & Service Philippines,          UR        Cummins Inc. (100%)
  Inc.
Cummins Ten Holdings Ltd.                     UR        No. 379 Taurus Ventures Ltd.
                                                        (100%)
</Table>

                                       81
<Page>

<Table>
<Caption>
                                          RESTRICTED/
INTERNATIONAL ENTITIES                   UNRESTRICTED         OWNED BY (PERCENTAGE)                      COMMENTS
--------------------------------------   ------------   ---------------------------------   ----------------------------------
<S>                                           <C>       <C>                                 <C>
Cummins U.K. Limited                           R        Cummins International Finance
                                                        Corp. (88%)
                                                        Onan Foreign Holdings, Ltd. (12%)
Cummins Xiangfan Machining Co. Ltd.           UR        Cummins Inc. (100%)
Cummins Zimbabwe Pvt. Ltd.                    UR        Cummins Inc. (90%)
Diesel Recon de Mexico, S.A. de C.V.          UR        Cummins Inc. (100%)
Distribuidora Cummins Ltda.                   UR        Cummins Inc. (100%)
  (Argentina)
Distribuidora Cummins Sao Paulo Ltda.         UR        Cummins Brasil Ltda. (100%)
Empresas Cummins S.A. de C.V.                  R        Cummins Inc. (100%)
Fleetguard Korea Ltd.                         UR        Fleetguard, Inc. (100%)
Fleetguard Nelson Brasil Comercial            UR        Fleetguard, Inc. (90%)
  Ltda.                                                 Cummins Brasil, Ltda. (10%)
Fleetguard Nelson Mexico S. de R.L.           UR        Fleetguard, Inc. (100%)
  de C.V.
Fleetguard SARL                                R        Fleetguard International Corp.
                                                        (100%)
FLNL Servicios S. de R.L. de C.V.             UR        Fleetguard, Inc. (100%)
Holset Engineering Company Ltd.                R        Cummins Engine Company Ltd.
                                                        (U.K.) (100%)
Industria e Comercio Cummins Ltda.             R        Cummins International Finance
                                                        Corp. (99.5%)
Markon Engineering Company Ltd.                R        Newage International Ltd. (100%)
Nelson Burgess Ltd.                           UR        Fleetguard, Inc. (100%)
Nelson Engine Systems India Private           UR        Fleetguard, Inc. (50%)
  Ltd.                                                  Cummins India Ltd. (50%)
Nelson Export Sales Corp.                     UR        Fleetguard, Inc. (100%)
Nelson Industries Europe GmbH                 UR        Fleetguard, Inc. (100%)
Nelson Muffler Canada, Inc.                   UR        Fleetguard, Inc. (100%)
Newage Asia Pacific Pte. Ltd.                  R        Newage International Ltd. (100%)
Newage Engineers GmbH                          R        Newage International Ltd. (100%)
Newage Engineers Pty. Ltd.                     R        Newage International Ltd. (100%)
Newage International Ltd.                      R        Cummins U.K. Ltd. (100%)
Newage Italia S.R.L.                           R        Newage International Ltd. (100%)
</Table>

                                       82
<Page>

<Table>
<Caption>
                                          RESTRICTED/
INTERNATIONAL ENTITIES                   UNRESTRICTED         OWNED BY (PERCENTAGE)                      COMMENTS
--------------------------------------   ------------   ---------------------------------   ----------------------------------
<S>                                           <C>       <C>                                 <C>
Newage Ltd. (U.K.)                             R        Newage International Ltd. (100%)
Newage Machine Tools Ltd.                      R        Newage International Ltd. (100%)
Newage Norge A/S                               R        Newage International Ltd. (100%)
No. 379 Taurus Ventures Ltd.                  UR        Cummins International Finance
                                                        Corp. (100%)
Northwest Dieselguard, Ltd.                   UR        Cummins Diesel Ltd. (100%)
Onan International Limited                     R        Onan Corporation (100%)
Petbow Asia Pacific Pty. Ltd.                 UR        Cummins Engine Company Pty. Ltd.
                                                        (100%)
Petbow Limited                                 R        Cummins Power Generation Ltd.
                                                        (100%)
PGI (UK Holdings) Limited                      R        Power Group International Ltd.
                                                        (100%)
Power Group International Limited              R        Cummins U.K. Ltd. (100%)
Power Group International (Overseas            R        Power Group International Ltd.
  Holdings) Ltd.                                        (100%)
Power Systems India Ltd.                       R        Cummins Diesel Sales & Service
                                                        (India) Ltd. (88%)
                                                        Cummins India Ltd. (12%)
P.T. Newage Engineers Indonesia                R        Newage International Ltd. (97%)
Shanghai Fleetguard International             UR        Cummins Engine (China)
  Trading Co.                                           Investment Co. Ltd. (100%)
Shenzhen Chongfa Cummins Co. Ltd.             UR        Cummins Hong Kong Ltd. (75%)
Stamford Iberica S.A.                          R        Newage International Ltd. (100%)
Stamford Mexico, S. de R.L. de C.V.           UR        Cummins International Finance
                                                        Corp. (50%)
                                                        Emprasas Cummins S.A. de C.V.
                                                        (50%)
Swagman Australia Pty. Ltd.                   UR        Cummins Engine Co. Pty. Ltd.
                                                        (100%)
Turbo Europa BV                               UR        Cummins Hong Kong Ltd. (100%)
Wuxi Holset Engineering Co. Limited            R        Cummins Engine (China)
                                                        Investment Co. Ltd. (55%)
Wuxi Newage Alternators Ltd.                   R        Cummins Engine (China)
                                                        Investment Co. Ltd. (100%)
</Table>

                                       83
<Page>

                                                               SCHEDULE 3.09 (c)

                               CERTAIN AGREEMENTS

     The Company's Key Employee Stock Investment Plan under which the Company
must repurchase its common stock from the employees.

     The Amended and Restated Credit Agreement dated as of January 8, 1998, as
amended, among the Company, the banks parties thereto and JPMorgan Chase Bank,
formerly Morgan Guaranty Trust Company of New York.

     The Indenture dated as of March 1, 1986 between the Company and JPMorgan
Chase Bank (formerly known as The Chase Manhattan Bank, formerly known as
Chemical Bank, successor by merger to The Chase Manhattan Bank (National
Association)), as trustee.

                                       84
<Page>

                                                               SCHEDULE 3.09 (d)

                                  CUMMINS INC.
                              PRIORITY INDEBTEDNESS

<Table>
<Caption>
                                                                          September 29, 2002
<S>                                                                          <C>
S.T. NOTES PAYABLE
     Cummins Eng Co Ltd                                                       12,064,492
     Cummins Brasil S.A.                                                       3,395,825
     Dicumar                                                                      18,098
                                                                             -----------
         Sub-Total                                                            15,478,415
                                                                             -----------
BANK OVERDRAFTS PAYABLE
     Cum Eng (Singapore) Pte Ltd                                                   3,962
     Fleetguard Singapore                                                          4,307
     Cum Aus Pty Ltd                                                           3,325,501
     Fleetguard Korea Ltd                                                         32,157
     Cummins Beljing Distributor                                                 241,604
     WUXI Holset                                                               3,020,000
     CDS&S Ltd Korea                                                             208,912
     Cum Shanghai Trd & Services                                               3,208,000
     Sal Paulo Distributor                                                       181,095
     Cum Powerent Commer Ltda                                                    300,154
                                                                             -----------
         Sub-Total                                                            28,004,107
                                                                             -----------
CURRENT MATURITIES - LT DEBT
     CDS&S - India                                                                10,589
     Cummins India Ltd                                                           388,058
     Cummins Diesel NV                                                         1,500,000
     Fleetguard SNC                                                             (335,893)
     CD Belgium                                                                   24,415
     Cap Less - Darlington
      - Cummins India Ltd                                                         14,260
      - Cum Aust Pty                                                             513,218
      - Cummins Power Gen Ltd                                                      1,496
      - FG SNC                                                                   196,724
                                                                             -----------
         Sub-Total                                                             2,312,887
                                                                             -----------
LONG TERM DEBT
     Cummins India Ltd                                                           669,681
     Fleetguard SNC                                                              335,891
     CD Belgium                                                                  276,795
     Cap Less - Daventry
      - CDA Australia                                                          1,491,300
      - FG SNC                                                                 1,242,537
                                                                             -----------
         Sub-Total                                                             4,236,204
                                                                             -----------
GRAND TOTAL DEBT                                                              32,563,198
                                                                             -----------
SALE & LEASEBACK
     Sale of Equipment                                                         4,753,047
     Sale of Equipment (APEX)                                                116,847,826
     Sale of Equipment (2Co planes)                                           16,283,806
                                                                             -----------
         Total Sale & Leaseback                                              137,884,679
                                                                             -----------
TOTAL PRIORITY DEBT                                                          170,437,877

LIMITATION                                                                   200,000,000
                                                                             -----------
Excess over (under) limit                                                     29,562,123
                                                                             -----------
</Table>

                                       85
<Page>

                                                                SCHEDULE 3.09(e)

                               EXISTING GUARANTEES

<Table>
<Caption>
    Name                                Description                                SEPTEMBER 29, 2002
                                                                                   ------------------
<S>              <C>                                                                       <C>
GUARANTEES OF DEBT OF NON-CONSOLIDATED DEBT:

Columbus         Bond pymt for Columbus Inn                                                 1,966,289
Columbus         49% guarantee of Valvoline Cummins payables to Mobil max
                     of 1 mil Ashland has 51%                                                 490,000
Columbus         Independent Distributor Debt (w/recourse)
                 Case Credit recourse marine engine program                                 1,657,282
                 Cummins Distributors - US                                                 35,916,000
                 Cummins Distributors - Canada                                             15,578,718
                                                                                           ----------

                 TOTAL GUARANTEES                                                          55,608,289
                                                                                           ==========
</Table>

                                       86
<Page>

                                                                   SCHEDULE 3.13

                                DISCLOSED MATTERS

None.

                                                                   SCHEDULE 6.07

                              EXISTING RESTRICTIONS

1.       Indenture, dated as of March 1, 1986, between Cummins Engine Company,
Inc. and The Chase Manhattan Bank (National Association) as Trustee, as
supplemented by a First Supplemental Indenture, dated as of September 15, 1989.

2.       Receivables Purchase Agreement, dated as of December 15, 2000, as
amended, among Cummins Receivables Corp., as seller, Cummins Inc. (formerly know
as Cummins Engine Company, Inc.), as servicer, and Corporate Asset Funding
Company, Inc., and CIESCO, L.P., as conduit purchasers, the financial
institutions from time to time party thereto, as committed purchasers, and
Citicorp North America, Inc., as agent.

3.          Sale and Contribution Agreement, dated as of December 15, 2000,
between Cummins Inc. (formerly know as Cummins Engine Company, Inc.), as seller,
and Cummins Receivables Corp., as buyer (including the Form of Subordinated
Revolving Note attached thereto as Exhibit A).

                                       87
<Page>

                                       88<Page>

                                                                  EXHIBIT 4(b)

                        GUARANTEE AND SECURITY AGREEMENT

                                   dated as of

                                November 5, 2002

                                      among

                                  CUMMINS INC.,

                     THE SUBSIDIARY GUARANTORS PARTY HERETO

                                       and

                               JPMORGAN CHASE BANK
                               as Collateral Agent

<Page>

                                TABLE OF CONTENTS

                                   ----------

<Table>
<Caption>
                                                                                             PAGE
                                                                                             ----
<S>                                                                                            <C>
Section 1.  DEFINITIONS.........................................................................1
Section 2.  GUARANTEES BY SUBSIDIARY GUARANTORS................................................14
Section 3.  GRANT OF TRANSACTION LIENS.........................................................17
Section 4.  GENERAL REPRESENTATIONS AND WARRANTIES AND COVENANTS...............................19
Section 5.  FURTHER ASSURANCES; GENERAL COVENANTS..............................................22
Section 6.  ACCOUNTS...........................................................................25
Section 7.  INSTRUMENTS........................................................................26
Section 8.  RECORDABLE INTELLECTUAL PROPERTY...................................................26
Section 9.  INVESTMENT PROPERTY................................................................27
Section 10.  INVESTMENT PROPERTY COLLATERAL ACCOUNTS...........................................31
Section 11.  CONTROLLED DEPOSIT ACCOUNTS.......................................................31
Section 12.  CASH COLLATERAL ACCOUNTS..........................................................32
Section 13.  OPERATION OF COLLATERAL ACCOUNTS..................................................33
Section 14.  TRANSFER OF RECORD OWNERSHIP......................................................34
Section 15.  RIGHT TO VOTE SECURITIES..........................................................35
Section 16.  CERTAIN CASH DISTRIBUTIONS........................................................35
Section 17.  REMEDIES UPON EVENT OF DEFAULT....................................................36
Section 18.  APPLICATION OF PROCEEDS...........................................................37
Section 19.  FEES AND EXPENSES; INDEMNIFICATION................................................39
Section 20.  AUTHORITY TO ADMINISTER COLLATERAL................................................40
Section 21.  LIMITATION ON DUTY IN RESPECT OF COLLATERAL.......................................41
Section 22.  GENERAL PROVISIONS CONCERNING THE COLLATERAL AGENT................................41
Section 23.  TERMINATION OF TRANSACTION LIENS; RELEASE OF COLLATERAL...........................44
Section 24.  ADDITIONAL SUBSIDIARY GUARANTORS AND LIEN GRANTORS................................45
Section 25.  ADDITIONAL SECURED OBLIGATIONS....................................................45
Section 26.  SECURITIZATION COLLATERAL.........................................................45
Section 27.  NOTICES...........................................................................47
Section 28.  NO IMPLIED WAIVERS; REMEDIES NOT EXCLUSIVE........................................48
Section 29.  SUCCESSORS AND ASSIGNS............................................................48
Section 30.  AMENDMENTS AND WAIVERS............................................................48
Section 31.  GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS........................48
Section 32.  WAIVER OF JURY TRIAL..............................................................49
Section 33.  JUDGMENT CURRENCY.................................................................49
</Table>

<Page>

SCHEDULES:

     SCHEDULE 1     Equity Interests in Material Subsidiaries which are
                    Unrestricted Subsidiaries Owned by Original Lien Grantors

     SCHEDULE 2     Other Investment Property Owned by Original Lien Grantors

     SCHEDULE 3     Intellectual Property

EXHIBITS:

     EXHIBIT A      Security Agreement Supplement

     EXHIBIT B      Copyright Security Agreement

     EXHIBIT C      Patent Security Agreement

     EXHIBIT D      Trademark Security Agreement

     EXHIBIT E      Perfection Certificate

     EXHIBIT F      Issuer Control Agreement

     EXHIBIT G      Securities Account Control Agreement

                                       ii
<Page>

                        GUARANTEE AND SECURITY AGREEMENT

     AGREEMENT dated as of November 5, 2002 among CUMMINS INC., the SUBSIDIARY
GUARANTORS party hereto and JPMORGAN CHASE BANK, as Collateral Agent.

     WHEREAS, the Borrowers are entering into the Credit Agreement described in
Section 1 hereof, pursuant to which the Borrowers intend to borrow funds and
obtain letters of credit for the purposes set forth therein;

     WHEREAS, the Company is willing to secure (i) its obligations under the
Credit Agreement, and (ii) its guarantee of the obligations of the other
Borrowers under the Credit Agreement by granting Liens on its assets to the
Collateral Agent as provided in the Security Documents;

     WHEREAS, the Company is willing to cause certain of its Subsidiaries to
guarantee the obligations of the Borrowers under the Credit Agreement and to
secure their guarantee thereof by granting Liens on their assets to the
Collateral Agent as provided in the Security Documents;

     WHEREAS, the Lenders and the Issuing Bank are not willing to make loans or
issue or participate in letters of credit under the Credit Agreement unless (i)
the obligations of the Borrowers under the Credit Agreement are secured and
guaranteed as described above and (ii) each guarantee thereof is secured by
Liens on assets of the relevant Guarantor as provided in the Security Documents;

     WHEREAS, upon any foreclosure or other enforcement of the Security
Documents, the net proceeds of the relevant Collateral are to be received by or
paid over to the Collateral Agent and applied as provided in Section 18 hereof;

     NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     Section 1.  DEFINITIONS.

     (a)  TERMS DEFINED IN CREDIT AGREEMENT. Terms defined in the Credit
Agreement and not otherwise defined in subsection (b) or (c) of this Section
have, as used herein, the respective meanings provided for therein.

<Page>

     (b)  TERMS DEFINED IN UCC. As used herein, each of the following terms has
the meaning specified in the UCC:

<Table>
<Caption>
Term                                                                UCC
----                                                                ---
<S>                                                                 <C>
Account                                                             9-102
Authenticate                                                        9-102
Certificated Security                                               8-102
Chattel Paper                                                       9-102
Commercial Tort Claim                                               9-102
Commodity Account                                                   9-102
Commodity Contract                                                  9-102
Commodity Customer                                                  9-102
Commodity Intermediary                                              9-102
Deposit Account                                                     9-102
Document                                                            9-102
Entitlement Holder                                                  8-102
Entitlement Order                                                   8-102
Equipment                                                           9-102
Financial Asset                                                     8-102 & 103
Fixture                                                             9-102
General Intangibles                                                 9-102
Instrument                                                          9-102
Inventory                                                           9-102
Investment Property                                                 9-102
Letter-of-Credit Right                                              9-102
Payment Intangible                                                  9-102
Record                                                              9-102
Securities Account                                                  8-501
Securities Intermediary                                             8-102
Security                                                            8-102 & 103
Security Entitlement                                                8-102
Supporting Obligations                                              9-102
Uncertificated Security                                             8-102
</Table>

     (c)  ADDITIONAL DEFINITIONS. The following additional terms, as used
herein, have the following meanings:

     "ARTICLE 9" means Article 9 of the UCC.

     "ASSIGNMENT OF CLAIMS ACT" has the meaning specified in Section 4(o).

     "CASH COLLATERAL ACCOUNT" has the meaning specified in Section 12.

                                        2
<Page>

     "CASH DISTRIBUTIONS" means dividends, interest and other distributions and
payments (including proceeds of liquidation, sale or other disposition) made or
received in cash upon or with respect to any Collateral.

     "COLLATERAL" means all property, whether now owned or hereafter acquired,
on which a Lien is granted or purports to be granted to the Collateral Agent
pursuant to the Security Documents. When used with respect to a specific Lien
Grantor, the term "Collateral" means all its property on which such a Lien is
granted or purports to be granted.

     "COLLATERAL ACCOUNTS" means the Cash Collateral Accounts, the Controlled
Deposit Accounts, the Controlled Securities Accounts and the Investment Property
Collateral Accounts.

     "COLLATERAL AGENT" means JPMorgan Chase Bank, in its capacity as collateral
agent under the Loan Documents.

     "COMMODITY ACCOUNT CONTROL AGREEMENT" means, with respect to any Commodity
Account as to which a Lien Grantor is the Commodity Customer, an agreement by
such Lien Grantor, the Collateral Agent and the relevant Commodity Intermediary
that the Commodity Intermediary will apply any value distributed on account of
the Commodity Contracts carried in such Commodity Account as directed by the
Collateral Agent without further consent by such Lien Grantor. Each such
agreement must be reasonably satisfactory in form and substance to the
Collateral Agent.

     "COMPANY" means Cummins Inc., an Indiana corporation.

     "CONTINGENT SECURED OBLIGATION" means, at any time, any Secured Obligation
(or portion thereof) that is contingent in nature at such time, including any
Secured Obligation that is:

          (i)    an obligation to reimburse a bank for drawings not yet made
     under a letter of credit issued by it and outstanding at such time;

          (ii)   an obligation under a Rate Protection Agreement to make
     payments that cannot be quantified at such time;

          (iii)  any other obligation (including any guarantee) that is
     contingent in nature at such time; or

          (iv)   an obligation to provide collateral to secure any of the
     foregoing types of obligations;

                                        3
<Page>

     PROVIDED that in the case of clauses (ii) and (iii) above, contingent
     obligations under general indemnification provisions (such as Sections
     2.14, 2.16 and 12.03 of the Credit Agreement) and the like as to which no
     claim is pending or reasonably foreseeable shall not be treated as
     Contingent Secured Obligations for purposes of administration of this
     Agreement.

     "CONTROL" has the following meanings:

          (a)    when used with respect to any Security or Security Entitlement,
     the meaning specified in UCC Section 8-106;

          (b)    when used with respect to any Deposit Account, the meaning
     specified in UCC Section 9-104; and

          (c)    when used with respect to any Commodity Account or Commodity
     Contract, the meaning specified in UCC Section 9-106(b).

     "CONTROLLED COMMODITY ACCOUNT" means a Commodity Account as to which (i) a
Lien Grantor is the Commodity Customer and (ii) a Commodity Account Control
Agreement is in effect.

     "CONTROLLED DEPOSIT ACCOUNT" means a Deposit Account (i) that is subject to
a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is
the Depositary Bank's "customer" (as defined in UCC Section 4-104).

     "CONTROLLED SECURITIES ACCOUNT" means a Securities Account that (i) is
maintained in the name of a Lien Grantor at an office of a Securities
Intermediary located in the United States and (ii) together with all Financial
Assets credited thereto and all related Security Entitlements, is subject to a
Securities Account Control Agreement among such Lien Grantor, the Collateral
Agent and such Securities Intermediary.

     "COPYRIGHT LICENSE" means any agreement now or hereafter in existence
granting to any Lien Grantor, or pursuant to which any Lien Grantor grants to
any other Person, any right to use, copy, reproduce, distribute, prepare
derivative works, display or publish any records or other materials on which a
Copyright is in existence or may come into existence, including any agreement
identified in Schedule 1 to any Copyright Security Agreement.

     "COPYRIGHTS" means all the following: (i) all copyrights under the laws of
the United States or any other country (whether or not the underlying works of
authorship have been published), all registrations and recordings thereof, all
copyrightable works of authorship (whether or not published), and all
applications for copyrights under the laws of the United States or any other
country, including

                                        4
<Page>

registrations, recordings and applications in the United States Copyright Office
or in any similar office or agency of the United States, any State thereof or
any other country or any political subdivision thereof, including those
described in Schedule 1 to any Copyright Security Agreement, (ii) all renewals
of any of the foregoing, (iii) all claims for, and rights to sue for, past or
future infringements of any of the foregoing, and (iv) all income, royalties,
damages and payments now or hereafter due or payable with respect to any of the
foregoing, including damages and payments for past or future infringements
thereof.

     "COPYRIGHT SECURITY AGREEMENT" means a Copyright Security Agreement,
substantially in the form of Exhibit B, executed and delivered by a Lien Grantor
in favor of the Collateral Agent for the benefit of the Secured Parties.

     "CREDIT AGREEMENT" means the Credit Agreement dated as of November 5, 2002
among the Company, Cummins Engine Co. Ltd., Cummins Power Generation Ltd.,
Newage International Limited, the Lenders party thereto and JPMorgan Chase Bank,
as Administrative Agent, Collateral Agent, LC Issuing Bank and Swingline Lender.

     "DEPOSIT ACCOUNT CONTROL AGREEMENT" means, with respect to any Deposit
Account of any Lien Grantor, an agreement among such Lien Grantor, the
Collateral Agent and the relevant Depositary Bank, set forth in an Authenticated
Record, (i) that such Depositary Bank will comply with instructions originated
by the Collateral Agent directing disposition of the funds in such Deposit
Account without further consent by such Lien Grantor and (ii) subordinating to
the relevant Transaction Lien all claims of the Depositary Bank to such Deposit
Account (except its right to deduct its normal operating charges and any
uncollected funds previously credited thereto and other similar exceptions
reasonably acceptable to the Collateral Agent).

     "DEPOSITARY BANK" means a bank at which a Controlled Deposit Account is
maintained.

     "EQUITY INTEREST" means (i) in the case of a corporation, any shares of its
capital stock, (ii) in the case of a limited liability company, any membership
interest therein, (iii) in the case of a partnership, any partnership interest
(whether general or limited) therein, (iv) in the case of any other business
entity, any participation or other interest in the equity or profits thereof,
(v) any warrant, option or other right to acquire any Equity Interest described
in this definition or (vi) any Security Entitlement in respect of any Equity
Interest described in this definition.

                                        5
<Page>

     "FEDERAL GOVERNMENT" means the federal government of the United States or
any agency or instrumentality thereof.

     "GUARANTORS" means the Company and each Subsidiary Guarantor.

     "INDENTURE" means the indenture dated as of March 1, 1986 between the
Company and JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank,
formerly known as Chemical Bank, successor by merger to The Chase Manhattan Bank
(National Association)), as trustee, as amended and supplemented prior to the
Effective Date.

     "INTELLECTUAL PROPERTY FILING" means (i) with respect to any Patent, Patent
License, Trademark or Trademark License, the filing of the applicable Patent
Security Agreement or Trademark Security Agreement with the United States Patent
and Trademark Office, together with an appropriately completed recordation form,
and (ii) with respect to any Copyright or Copyright License, the filing of the
applicable Copyright Security Agreement with the United States Copyright Office,
together with an appropriately completed recordation form, in each case
sufficient to record the Transaction Lien granted to the Collateral Agent in
such Recordable Intellectual Property.

     "INTELLECTUAL PROPERTY SECURITY AGREEMENT" means a Copyright Security
Agreement, a Patent Security Agreement or a Trademark Security Agreement.

     "INVESTMENT PROPERTY COLLATERAL ACCOUNT" has the meaning specified in
Section 10.

     "ISSUER CONTROL AGREEMENT" means an Issuer Control Agreement substantially
in the form of Exhibit F (with any changes that the Collateral Agent shall have
approved, such approval not to be unreasonably withheld).

     "LIEN GRANTORS" means the Company and the Subsidiary Guarantors.

     "LIQUID INVESTMENT" means a Permitted Investment that matures within 30
days after it is first included in the Collateral.

     "LLC INTEREST" means a membership interest or similar interest in a limited
liability company.

     "MATERIAL COMMERCIAL TORT CLAIM" means a Commercial Tort Claim that the
Company has determined in good faith could reasonably be expected to result in a
recovery by the Company or the applicable Subsidiary Guarantor of more than
$5,000,000.

                                        6
<Page>

     "MATERIAL GOVERNMENT CONTRACT" means a contract, between a Lien Grantor and
either (i) the Federal Government or (ii) a state or local government or any
agency or instrumentality thereof, that provides (or can reasonably be expected
to provide) for payments to such Lien Grantor in an aggregate amount exceeding
$5,000,000.

     "MATERIAL RECORDABLE INTELLECTUAL PROPERTY" means (a) the Recordable
Intellectual Property listed on Schedule 3 hereto, (b) the Recordable
Intellectual Property identified in Intellectual Property Security Agreements
delivered in accordance with the second sentence of subsection 8(a) and (c) any
other Recordable Intellectual Property with a fair market value of more than
$1,000,000 as reasonably determined by either the Company or, after consultation
with the Company, the Collateral Agent.

     "MAXIMUM GUARANTEED AMOUNT" has the meaning set forth in Section 2(i)(ii).

     "NEW INDENTURE" means any indenture governing the terms of notes or bonds
issued by the Company after the Effective Date.

     "NOMINATED PERSON" means a Person whom the issuer of a letter of credit (i)
designates or authorizes to pay, accept, negotiate or otherwise give value under
such letter of credit and (ii) undertakes by agreement or custom and practice to
reimburse.

     "NON-CONTINGENT SECURED OBLIGATION" means at any time any Secured
Obligation (or portion thereof) that is not a Contingent Secured Obligation at
such time.

     "OPINION OF COUNSEL" means a written opinion of legal counsel (who may be
counsel to a Lien Grantor or other counsel, in either case approved by the
Collateral Agent, such approval not to be unreasonably withheld) addressed and
delivered to the Collateral Agent.

     "ORIGINAL LIEN GRANTOR" means any Lien Grantor that grants a Lien on any of
its assets hereunder on the Effective Date.

     "OWN" refers to the possession of sufficient rights in property to grant a
security interest therein as contemplated by UCC Section 9-203, and "ACQUIRE"
refers to the acquisition of any such rights.

     "PARTNERSHIP INTEREST" means a partnership interest, whether general or
limited.

                                        7
<Page>

     "PATENT LICENSE" means any agreement now or hereafter in existence granting
to any Lien Grantor, or pursuant to which any Lien Grantor grants to any other
Person, any right with respect to any Patent or any invention now or hereafter
in existence, whether patentable or not, whether a patent or application for
patent is in existence on such invention or not, and whether a patent or
application for patent on such invention may come into existence or not,
including any agreement identified in Schedule 1 to any Patent Security
Agreement.

     "PATENTS" means (i) all letters patent and design letters patent of the
United States or any other country and all applications for letters patent or
design letters patent of the United States or any other country, including
applications in the United States Patent and Trademark Office or in any similar
office or agency of the United States, any State thereof or any other country or
any political subdivision thereof, including those described in Schedule 1 to
any Patent Security Agreement, (ii) all reissues, divisions, continuations,
continuations in part, revisions and extensions of any of the foregoing, (iii)
all claims for, and rights to sue for, past or future infringements of any of
the foregoing and (iv) all income, royalties, damages and payments now or
hereafter due or payable with respect to any of the foregoing, including damages
and payments for past or future infringements thereof.

     "PATENT SECURITY AGREEMENT" means a Patent Security Agreement,
substantially in the form of Exhibit C, executed and delivered by a Lien Grantor
in favor of the Collateral Agent for the benefit of the Secured Parties.

     "PERFECTION CERTIFICATE" means, with respect to any Lien Grantor, a
certificate substantially in the form of Exhibit E, completed and supplemented
with the schedules contemplated thereby to the reasonable satisfaction of the
Collateral Agent, and signed by an officer of such Lien Grantor.

     "PERMITTED INVESTMENT" means:

     (a)  direct obligations of, or obligations the principal of and interest on
which are unconditionally guaranteed by, the United States (or by any agency
thereof to the extent such obligations are backed by the full faith and credit
of the United States), in each case maturing within one year from the date of
acquisition thereof;

     (b)  commercial paper maturing within 270 days from the date of acquisition
thereof and having, at such date of acquisition, one of the two highest credit
ratings obtainable from S&P or from Moody's;

     (c)  certificates of deposit, banker's acceptances and time or demand
deposits maturing within 180 days from the date of acquisition thereof issued or

                                        8
<Page>

guaranteed by or placed with, and money market deposit accounts issued or
offered by, any domestic office of any commercial bank organized under the laws
of the United States or any State thereof which has a combined capital and
surplus and undivided profits of at least $500,000,000; and

     (d)  fully collateralized repurchase agreements with a term of not more
than 30 days for securities described in clause (a) above and entered into with
a financial institution satisfying the criteria described in clause (c) above.

     "PERMITTED LIENS" means (i) the Transaction Liens and (ii) any other Liens
on the Collateral permitted to be created or assumed or to exist pursuant to
Section 6.01 of the Credit Agreement.

     "PLEDGED", when used in conjunction with any type of asset, means at any
time an asset of such type that is included (or that creates rights that are
included) in the Collateral at such time. For example, "Pledged Equity Interest"
means an Equity Interest that is included in the Collateral at such time and
"Pledged letter of credit" means a letter of credit that creates rights to
payment or performance that are included in the Collateral at such time.

     "POST-PETITION INTEREST" means any interest that accrues after the
commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency or reorganization of any Borrower (or would accrue but for the
operation of applicable bankruptcy or insolvency laws), whether or not such
interest is allowed or allowable as a claim in any such proceeding.

     "PROCEEDS" means all proceeds of, and all other profits, products, rents or
receipts, in whatever form, arising from the collection, sale, lease, exchange,
assignment, licensing or other disposition of, or other realization upon, any
Collateral, including all claims of the relevant Lien Grantor against third
parties for loss of, damage to or destruction of, or for proceeds payable under,
or unearned premiums with respect to, policies of insurance in respect of, any
Collateral, and any condemnation or requisition payments with respect to any
Collateral.

     "PURCHASER INTEREST" means the undivided ownership interest of the
Purchasers in the Receivables Assets, as calculated in accordance with the terms
of the RPA.

     "PURCHASERS" means Corporate Asset Funding Company, Inc. and Corporate
Receivables Corporation, as "CONDUIT Purchasers" under the RPA, and Citibank
N.A. as the "COMMITTED PURCHASER" under the RPA, and any other "CONDUIT
PURCHASER" or "COMMITTED PURCHASER" from time to time party to the RPA.

                                        9
<Page>

     "RATE PROTECTION AGREEMENT" means any interest rate protection agreement,
foreign currency exchange agreement, commodity price protection agreement or
other interest rate, currency exchange rate or commodity price hedging
arrangement entered into with a Lender or an Affiliate thereof and shall for the
avoidance of doubt include any Swap Agreement not prohibited under the Credit
Agreement.

     "RECEIVABLES AGENT" means Citicorp North America, Inc.

     "RECEIVABLES ASSET" has the meaning specified in the RPA.

     "RECEIVABLES SELLER" means Cummins Receivables Corp., a special purpose
corporation formed under the laws of Delaware, and a wholly-owned subsidiary of
the Company.

     "RECORDABLE INTELLECTUAL PROPERTY" means (i) Patents, (ii) Patent Licenses,
(iii) Trademarks, (iv) Trademark Licenses, (v) Copyrights and (vi) Copyright
Licenses, and all rights in or under any of the foregoing.

     "RELEASE CONDITIONS" means the following conditions for releasing all the
Secured Guarantees and terminating all the Transaction Liens:

          (i)    all Commitments under the Credit Agreement shall have expired
     or been terminated;

          (ii)   all Non-Contingent Secured Obligations shall have been paid in
     full; and

          (iii)  no Contingent Secured Obligation shall remain outstanding;

PROVIDED that the condition in clause (iii) shall not apply to outstanding
Letters of Credit if (x) no Event of Default has occurred and is continuing and
(y) the applicable Borrower has granted to the Collateral Agent, for the benefit
of the Lenders, a security interest in Liquid Investments (or causes a bank
acceptable to the Required Lenders to issue a letter of credit naming the
Collateral Agent as beneficiary) in an amount exceeding 105% of the LC Exposure
(plus any accrued and unpaid interest thereon) as of the date of such
termination, on terms and conditions and pursuant to documentation reasonably
satisfactory to the Collateral Agent.

     "RESTRICTED SUBSIDIARY" has the meaning specified in the Indenture.

     "RPA" means that certain Receivables Purchase Agreement dated as of
December 15, 2000 (as amended, restated, supplemented or otherwise modified from
time to time) among the Receivables Seller, the Company, Corporate Asset

                                       10
<Page>

Funding Company, Inc. and Corporate Receivables Corporation as "Conduit
Purchasers", the financial institutions party thereto as "Committed Purchasers"
and the Receivables Agent.

     "SECURED AGREEMENT", when used with respect to any Secured Obligation,
refers collectively to each instrument, agreement or other document that sets
forth obligations of the Borrowers, obligations of a guarantor and/or rights of
the holder with respect to such Secured Obligation.

     "SECURED GUARANTEE" means, (i) with respect to the Company, its guarantee
contained in Article 11 of the Credit Agreement and (ii) with respect to each
Subsidiary Guarantor, its guarantee of the Secured Obligations under Section 2
hereof or Section 1 of a Security Agreement Supplement.

     "SECURED OBLIGATIONS" means (i) all principal of all Loans and obligations
to reimburse LC Disbursements outstanding from time to time under the Credit
Agreement, all interest (including Post-Petition Interest) on such Loans and
reimbursement obligations and all other amounts now or hereafter payable by the
Borrowers pursuant to the Loan Documents and (ii) all obligations (if any)
designated by the Company as additional Secured Obligations pursuant to Section
25.

     "SECURED PARTIES" means the holders from time to time of the Secured
Obligations.

     "SECURED PARTY REQUESTING NOTICE" means, at any time, a Secured Party that
has, at least five Business Days prior thereto, delivered to the Collateral
Agent a written notice (i) stating that it holds one or more Secured Obligations
and wishes to receive copies of the notices referred to in Section 22(h) and
(ii) setting forth its address, facsimile number and e-mail address to which
copies of such notices should be sent.

     "SECURITIES ACCOUNT CONTROL AGREEMENT" means, when used with respect to a
Securities Account, a Securities Account Control Agreement substantially in the
form of Exhibit G (with any changes that the Collateral Agent shall have
approved, such approval not to be unreasonably withheld) among the relevant
Securities Intermediary, the relevant Lien Grantor and the Collateral Agent to
the effect that such Securities Intermediary will comply with Entitlement Orders
originated by the Collateral Agent with respect to such Securities Account
without further consent by the relevant Lien Grantor.

     "SECURITIZATION COLLATERAL" means the Company's ownership interest in (i)
the Receivables Seller and the Transferring Subsidiary and (ii) that certain

                                       11
<Page>

Subordinated Revolving Note dated as of December 15, 2000 from the Receivables
Seller in favor of the Company.

     "SECURITIZATION DOCUMENTS" means the "FACILITY DOCUMENTS" as defined in the
RPA.

     "SECURITY AGREEMENT SUPPLEMENT" means a Security Agreement Supplement,
substantially in the form of Exhibit A, signed and delivered to the Collateral
Agent for the purpose of adding a Subsidiary as a party hereto pursuant to
Section 24 and/or adding additional property to the Collateral.

     "SECURITY DOCUMENTS" means this Agreement, the Security Agreement
Supplements, the Commodity Account Control Agreements, the Deposit Account
Control Agreements, the Issuer Control Agreements, the Securities Account
Control Agreements, the Intellectual Property Security Agreements and all other
supplemental or additional security agreements, control agreements or similar
instruments delivered pursuant to the Loan Documents.

     "SUBSIDIARY GUARANTOR" means each Subsidiary listed on the signature pages
hereof under the caption "Subsidiary Guarantors" and each Subsidiary that shall,
at any time after the date hereof, become a "Subsidiary Guarantor" pursuant to
Section 24.

     "SUPPORTING LETTER OF CREDIT" means a letter of credit that supports the
payment or performance of one or more items included in the Collateral.

     "TRADEMARK LICENSE" means any agreement now or hereafter in existence
granting to any Lien Grantor, or pursuant to which any Lien Grantor grants to
any other Person, any right to use any Trademark, including any agreement
identified in Schedule 1 to any Trademark Security Agreement.

     "TRADEMARKS" means: (i) all trademarks, trade names, corporate names,
company names, business names, fictitious business names, trade styles, service
marks, logos, brand names, trade dress, prints and labels on which any of the
foregoing have appeared or appear, package and other designs, and all other
source or business identifiers, and all general intangibles of like nature, and
the rights in any of the foregoing which arise under applicable law, (ii) the
goodwill of the business symbolized thereby or associated with each of them,
(iii) all registrations and applications in connection therewith, including
registrations and applications in the United States Patent and Trademark Office
or in any similar office or agency of the United States, any State thereof or
any other country or any political subdivision thereof, including those
described in Schedule 1 to any Trademark Security Agreement, (iv) all renewals
of any of the foregoing, (v) all claims for, and rights to sue for, past or
future infringements of any of the

                                       12
<Page>

foregoing and (vi) all income, royalties, damages and payments now or hereafter
due or payable with respect to any of the foregoing, including damages and
payments for past or future infringements thereof.

     "TRADEMARK SECURITY AGREEMENT" means a Trademark Security Agreement,
substantially in the form of Exhibit D, executed and delivered by a Lien Grantor
in favor of the Collateral Agent for the benefit of the Secured Parties.

     "TRANSACTION LIENS" means the Liens granted by the Lien Grantors under the
Security Documents.

     "TRANSFERRED ACCOUNTS" means any Accounts and related rights which have
been sold, contributed or otherwise transferred in connection with a receivables
financing not prohibited by the Credit Agreement.

     "TRANSFERRING SUBSIDIARY" means Onan Corporation.

     "UCC" means the Uniform Commercial Code as in effect from time to time in
the State of New York; PROVIDED that, if perfection or the effect of perfection
or non-perfection or the priority of any Transaction Lien on any Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other
than New York, "UCC" means the Uniform Commercial Code as in effect from time to
time in such other jurisdiction for purposes of the provisions hereof relating
to such perfection, effect of perfection or non-perfection or priority.

     (d)  TERMS GENERALLY. The definitions of terms herein (including those
incorporated by reference to the UCC or to another document) apply equally to
the singular and plural forms of the terms defined. Whenever the context may
require, any pronoun includes the corresponding masculine, feminine and neuter
forms. The words "INCLUDE", "INCLUDES" and "INCLUDING" shall be deemed to be
followed by the phrase "WITHOUT LIMITATION". The word "WILL" shall be construed
to have the same meaning and effect as the word "SHALL". Unless the context
requires otherwise, (i) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (ii) any reference
herein to any Person shall be construed to include such Person's successors and
assigns, (iii) the words "HEREIN", "HEREOF" and "HEREUNDER", and words of
similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof, (iv) all references herein to
Sections, Exhibits and Schedules shall be construed to refer to Sections of, and
Exhibits and Schedules to, this

                                       13
<Page>

Agreement and (v) the word "PROPERTY" shall be construed to refer to any and all
tangible and intangible assets and properties, including cash, securities,
accounts and contract rights.

     Section 2.  GUARANTEES BY SUBSIDIARY GUARANTORS.

     (a)  SECURED GUARANTEES. Each Subsidiary Guarantor unconditionally
guarantees the full and punctual payment of each Secured Obligation when due
(whether at stated maturity, upon acceleration or otherwise). If any Borrower
fails to pay any Secured Obligation punctually when due, each Subsidiary
Guarantor agrees that it will forthwith on demand pay the amount not so paid at
the place and in the manner specified in the relevant Secured Agreement.

     (b)  SECURED GUARANTEES UNCONDITIONAL. The obligations of each Subsidiary
Guarantor under its Secured Guarantee shall be unconditional and absolute and,
without limiting the generality of the foregoing, shall not be released,
discharged or otherwise affected by:

            (i)  any extension, renewal, settlement, compromise, waiver or
     release in respect of any obligation of any Borrower, any other Subsidiary
     Guarantor or any other Person under any Secured Agreement, by operation of
     law or otherwise;

           (ii)  any modification or amendment of or supplement to any
     Secured Agreement;

          (iii)  any release, impairment, non-perfection or invalidity of any
     direct or indirect security for any obligation of any Borrower, any other
     Subsidiary Guarantor or any other Person under any Secured Agreement;

           (iv)  any change in the corporate existence, structure or ownership
     of any Borrower, any other Subsidiary Guarantor or any other Person or any
     of their respective subsidiaries, or any insolvency, bankruptcy,
     reorganization or other similar proceeding affecting any Borrower, any
     other Subsidiary Guarantor or any other Person or any of their assets or
     any resulting release or discharge of any obligation of any Borrower, any
     other Subsidiary Guarantor or any other Person under any Secured Agreement;

            (v)  the existence of any claim, set-off or other right that such
     Subsidiary Guarantor may have at any time against any Borrower, any other
     Subsidiary Guarantor, any Secured Party or any other Person, whether in
     connection with the Loan Documents or any unrelated

                                       14
<Page>

     transactions; PROVIDED that nothing herein shall prevent the assertion of
     any such claim by separate suit or compulsory counterclaim;

           (vi)  any invalidity or unenforceability relating to or against any
     Borrower, any other Subsidiary Guarantor or any other Person for any reason
     of any Secured Agreement, or any provision of applicable law or regulation
     purporting to prohibit the payment of any Secured Obligation by any
     Borrower, any other Subsidiary Guarantor or any other Person; or

          (vii)  any other act or omission to act or delay of any kind by any
     Borrower, any other Subsidiary Guarantor, any other party to any Secured
     Agreement, any Secured Party or any other Person, or any other circumstance
     whatsoever that might, but for the provisions of this clause (vii),
     constitute a legal or equitable discharge of or defense to any obligation
     of any Subsidiary Guarantor hereunder (in each case other than payment in
     full of the Secured Obligations).

     (c)  RELEASE OF SECURED GUARANTEES. (i) All the Subsidiary Guarantors'
Secured Guarantees will be released upon the first date on which all the Release
Conditions are satisfied. If at any time any payment of a Secured Obligation is
rescinded or must be otherwise restored or returned upon the insolvency or
receivership of any Borrower or otherwise, the Subsidiary Guarantors' Secured
Guarantees shall be reinstated with respect thereto as though such payment had
been due but not made at such time.

           (ii)  If all the capital stock of a Subsidiary Guarantor or all the
     assets of a Subsidiary Guarantor are sold to a Person other than the
     Company or one of its Subsidiaries in a transaction not prohibited by the
     Credit Agreement (any such sale, a "SALE OF GUARANTOR"), such Subsidiary
     Guarantor will automatically without any further action by any Person be
     released from its Secured Guarantee. Such release shall not require the
     consent of any Secured Party, and the Collateral Agent shall be fully
     protected in relying on a certificate of the Company as to whether any
     particular sale constitutes a Sale of Guarantor.

          (iii)  In addition to any release permitted by subsection (i) or (ii),
     the Collateral Agent may release any Subsidiary Guarantor's Secured
     Guarantee with the prior written consent of the Required Lenders; PROVIDED
     that any release of any Subsidiary Guarantor's Secured Guarantees which
     results in the release of any substantial portion of the Collateral shall
     require the consent of all the Lenders.

     (d)  WAIVER BY SUBSIDIARY GUARANTORS. Each Subsidiary Guarantor irrevocably
waives acceptance hereof, presentment, demand, protest and any

                                       15
<Page>

notice not provided for herein, as well as any requirement that at any time any
action be taken by any Person against any Borrower, any other Subsidiary
Guarantor or any other Person.

     (e)  SUBROGATION. A Subsidiary Guarantor that makes a payment with respect
to a Secured Obligation hereunder shall be subrogated to the rights of the payee
against the relevant Borrower with respect to such payment; PROVIDED that no
Subsidiary Guarantor shall enforce any payment by way of subrogation against any
Borrower, or by reason of contribution against any other guarantor of such
Secured Obligation, until all the Release Conditions have been satisfied.

     (f)  STAY OF ACCELERATION. If acceleration of the time for payment of any
Secured Obligation by any Borrower is stayed by reason of the insolvency or
receivership of any Borrower or otherwise, all Secured Obligations otherwise
subject to acceleration under the terms of any Secured Agreement shall
nonetheless be payable by the Subsidiary Guarantors hereunder forthwith on
demand by the Collateral Agent.

     (g)  RIGHT OF SET-OFF. If any Secured Obligation is not paid promptly when
due, each of the Secured Parties and their respective Affiliates is authorized,
to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time
held and other obligations at any time owing by such Secured Party or Affiliate
to or for the credit or the account of any Subsidiary Guarantor against the
obligations of such Subsidiary Guarantor under its Secured Guarantee of such
Secured Obligation, irrespective of whether or not such Secured Party shall have
made any demand thereunder and although such obligations may be unmatured. The
rights of each Secured Party under this subsection are in addition to all other
rights and remedies (including other rights of set-off) that such Secured Party
may have.

     (h)  CONTINUING GUARANTEE. Each Subsidiary Guarantor's Secured Guarantee is
a continuing guarantee, shall be binding on the relevant Subsidiary Guarantor
and its successors and assigns, and shall be enforceable by the Collateral Agent
or the Secured Parties. If all or part of any Secured Party's interest in any
Secured Obligation is assigned or otherwise transferred, the transferor's rights
under each Subsidiary Guarantor's Secured Guarantee, to the extent applicable to
the obligation so transferred, shall automatically be transferred with such
obligation.

     (i)  LIMITATION ON OBLIGATIONS OF SUBSIDIARY GUARANTOR. (i) The obligations
of each Subsidiary Guarantor under its Secured Guarantee shall be limited to an
aggregate amount equal to the largest amount that would not render such Secured
Guarantee subject to avoidance under Section 548 of the United States Bankruptcy
Code or any comparable provisions of applicable law; PROVIDED

                                       16
<Page>

that to the extent such obligations may be satisfied by recourse solely to the
Collateral pledged by such Subsidiary Guarantor under the Security Documents,
and not as a general obligation of such Subsidiary Guarantor, the limitation
contemplated by this Section 2(i)(i) shall be determined without regard to the
obligations of such Subsidiary Guarantor as guarantor of bonds and notes
hereafter issued by the Company.

           (ii)  It is the intention of the parties that the Secured Guarantees
     given by Restricted Subsidiaries shall not contravene the limitations on
     Funded Debt (as defined in the Indenture) of Restricted Subsidiaries set
     forth in the Indenture, and the amount of such Subsidiary Guarantors'
     obligations under their Secured Guarantees shall be limited to an aggregate
     amount equal to the maximum amount that may be guaranteed by them without
     contravention of such restrictions contained in the Indenture (the "MAXIMUM
     GUARANTEED AMOUNT"), in each case to the extent that such restriction is in
     effect under the Indenture or any New Indenture containing a restriction on
     "Funded Debt" on the same terms as the restriction set forth in the
     Indenture. The Maximum Guaranteed Amount shall, to the extent permitted by
     the Indenture, be determined as of the date which results in the greatest
     amount.

          (iii)  The Company represents and warrants that, as of the Effective
     Date, the Maximum Guaranteed Amount shall be an amount not less than
     $125,000,000. Without limiting the effect of paragraph (i)(ii) above,
     unless and until the contrary is established to their satisfaction, the
     Lenders, the Administrative Agent and the Collateral Agent may assume for
     purposes of the Loan Documents that the Maximum Guaranteed Amount is
     $125,000,000, and shall incur no liability for any action or inaction taken
     in reliance on such assumption. Without limiting the effect of paragraph
     (i)(ii), the Lenders, the Administrative Agent and the Collateral Agent may
     in any case rely upon the advice of counsel as to the Maximum Guaranteed
     Amount, and shall incur no liability for any action or inaction taken in
     reliance on such advice.

           (iv)  In the event of any inconsistency between the provisions of any
     Loan Document and this Section 2(i), the provisions of this Section 2(i)
     shall prevail.

     Section 3.  GRANT OF TRANSACTION LIENS.

     (a)  The Company, in order to secure its Secured Obligations and its
Secured Guarantee, and each Subsidiary Guarantor listed on the signature pages
hereof, in order to secure its Secured Guarantee, grants to the Collateral Agent
for the benefit of the Secured Parties a continuing security interest in all the
following

                                       17
<Page>

property of the Company or such Subsidiary Guarantor, as the case may be,
whether now owned or existing or hereafter acquired or arising and regardless of
where located:

            (i)  all Accounts;

           (ii)  all Chattel Paper;

          (iii)  all Deposit Accounts;

           (iv)  all Documents;

            (v)  all Equipment;

           (vi)  all General Intangibles (including any Equity Interests in
     other Persons that do not constitute Investment Property);

          (vii)  all Instruments (including all Intercompany Notes);

         (viii)  all Inventory;

           (ix)  all Investment Property;

            (x)  all Letter-of-Credit Rights;

           (xi)  all books and records (including customer lists, credit files,
     computer programs, printouts and other computer materials and records) of
     such Original Lien Grantor pertaining to any of its Collateral;

          (xii)  such Original Lien Grantor's ownership interest in (1) its
     Collateral Accounts, (2) all Financial Assets credited to its Collateral
     Accounts from time to time and all Security Entitlements in respect
     thereof, (3) all cash held in its Collateral Accounts from time to time and
     (4) all other money in the possession of the Collateral Agent; and

         (xiii)  all Proceeds of the Collateral described in the foregoing
     clauses (i) through (xii);

PROVIDED that the following property is excluded from the foregoing security
interests: (A) motor vehicles the perfection of a security interest in which is
excluded from the Uniform Commercial Code in the relevant jurisdiction, (B)
voting Equity Interests in any Foreign Subsidiary, to the extent (but only to
the extent) required to prevent the Collateral from including more than 65% of
all voting Equity Interests in such Foreign Subsidiary, (C) any shares of stock
in or indebtedness of any Restricted Subsidiary (as such terms are used in the

                                       18
<Page>

Indenture, to the extent that the Indenture or any New Indenture containing a
restriction on "Secured Debt" on the same terms as the Indenture is effective),
(D) any Principal Property (as defined in the Indenture, to the extent that the
Indenture or any New Indenture containing a restriction on "Secured Debt" on the
same terms as the Indenture is effective), (E) any Fixture and (F) any general
intangibles or other rights arising under any contract, instrument, license or
other document or under any law, regulation, permit, order or decree of any
government authority if (but only to the extent that) the grant of a security
interest therein would constitute a material violation of a valid and
enforceable restriction in favor of a third party, unless and until all required
consents shall have been obtained. Each Original Lien Grantor shall, if
requested to do so by the Collateral Agent, use all commercially reasonable
efforts to obtain any such required consent that is reasonably obtainable with
respect to Collateral which the Collateral Agent reasonably determines to be
material.

     (b)  With respect to each right to payment or performance included in the
Collateral from time to time, the Transaction Lien granted therein includes a
continuing security interest in (i) any Supporting Obligation that supports such
payment or performance and (ii) any Lien that (x) secures such right to payment
or performance or (y) secures any such Supporting Obligation.

     (c)  The Transaction Liens are granted as security only and shall not
subject the Collateral Agent or any other Secured Party to, or transfer or in
any way affect or modify, any obligation or liability of any Lien Grantor with
respect to any of the Collateral or any transaction in connection therewith.

     Section 4.  GENERAL REPRESENTATIONS AND WARRANTIES AND COVENANTS. Each
Original Lien Grantor represents, warrants and covenants that:

     (a)  Such Lien Grantor is a corporation duly organized, validly existing
and in good standing under the laws of the jurisdiction identified as its
jurisdiction of organization in its Perfection Certificate.

     (b)  Schedule 1 lists all Equity Interests in Material Subsidiaries which
are Unrestricted Subsidiaries owned by such Lien Grantor as of the Effective
Date. Such Lien Grantor holds all such Equity Interests directly (I.E., not
through a Subsidiary, a Securities Intermediary or any other Person).

     (c)  Schedule 2 lists, as of the Effective Date, (i) all Securities owned
by such Lien Grantor (except Securities evidencing Equity Interests in
Subsidiaries), (ii) all Securities Accounts to which Financial Assets are
credited in respect of which such Lien Grantor owns Security Entitlements and
(iii) all Commodity Accounts in respect of which such Lien Grantor is the
Commodity Customer; PROVIDED that this representation shall be deemed to be true
as of such date if the

                                       19
<Page>

aggregate fair market value of Securities not listed on Schedule 2, Financial
Assets credited to Securities Accounts not listed on Schedule 2 and Commodity
Contracts credited to Commodity Accounts not listed on Schedule 2 does not
exceed $1,000,000 at such time.

     (d)  All Pledged Equity Interests owned by such Lien Grantor are owned by
it free and clear of any Lien other than (i) the Transaction Liens and (ii) any
Liens referred to in Section 6.01(b) or Section 6.01(g) of the Credit Agreement.
All shares of capital stock included in such Pledged Equity Interests (including
shares of capital stock in respect of which such Lien Grantor owns a Security
Entitlement) have been duly authorized and validly issued and are fully paid and
non-assessable. None of such Pledged Equity Interests is subject to any option
to purchase or similar right of any Person. Such Lien Grantor is not and will
not become a party to or otherwise bound by any agreement (except the Loan
Documents) which restricts in any manner the rights of any present or future
holder of any Pledged Equity Interest with respect thereto.

     (e)  Such Lien Grantor has good and marketable title to all its Collateral
(subject to exceptions set forth in the Security Documents or that are, in the
aggregate, not material), free and clear of any Lien other than Permitted Liens.

     (f)  Such Lien Grantor has not performed any acts that could reasonably be
expected to prevent the Collateral Agent from enforcing any of the provisions of
the Security Documents or that could reasonably be expected to limit the
Collateral Agent in any such enforcement. No financing statement, security
agreement or similar or equivalent document or instrument covering all or part
of the Collateral owned by such Lien Grantor is on file or of record in any
jurisdiction in which such filing or recording would be effective to perfect or
record a Lien on such Collateral, except financing statements or other similar
or equivalent documents (a) with respect to Permitted Liens or (b) the filing or
recording of which was not authorized by the Lien Grantor in accordance with
Section 9-509 of the UCC. After the Effective Date, no Collateral owned by such
Lien Grantor will be in the possession or under the Control of any other Person
having a claim thereto or security interest therein, other than a Permitted
Lien.

     (g)  To the extent attachment and creation of Transaction Liens are
governed by the laws of a jurisdiction in the United States (including the UCC),
the Transaction Liens on all Collateral owned by such Lien Grantor (i) have been
validly created, (ii) will attach to each item of such Collateral on the
Effective Date (or, if such Lien Grantor first obtains rights thereto on a later
date, on such later date) and (iii) when so attached, will secure all the
Secured Obligations or such Lien Grantor's Secured Guarantee, as the case may
be.

                                       20
<Page>

     (h)  Such Lien Grantor has delivered a Perfection Certificate to the
Collateral Agent. The information set forth therein is correct and complete as
of the Effective Date.

     (i)  When UCC financing statements describing the Collateral as set forth
in Schedule A to such Lien Grantor's Perfection Certificate have been filed in
the offices specified in such Perfection Certificate, the Transaction Liens will
constitute perfected security interests in the Collateral owned by such Lien
Grantor to the extent that a security interest therein may be perfected by
filing pursuant to the UCC, prior to all Liens and rights of others therein
except Permitted Liens. When, in addition to the filing of such UCC financing
statements, the applicable Intellectual Property Filings have been made with
respect to such Lien Grantor's Material Recordable Intellectual Property
(including any future filings required pursuant to Sections 5(a) and 8(a)), the
Transaction Liens will constitute perfected security interests in all right,
title and interest of such Lien Grantor in its Material Recordable Intellectual
Property to the extent that security interests therein may be perfected by such
filings, prior to all Liens and rights of others therein except Permitted Liens.
Except for (i) the filing of such UCC financing statements, (ii) such
Intellectual Property Filings and (iii) actions required under applicable
foreign law with respect to any Intellectual Property, no registration,
recordation or filing with any governmental body, agency or official is required
in connection with the execution or delivery of the Security Documents or is
necessary for the validity or enforceability thereof or for the perfection or
due recordation of the Transaction Liens created by this Agreement or, except
for customary motion or court proceedings, for the enforcement of the
Transaction Liens.

     (j)  Such Lien Grantor has taken, and will continue to take, within a
reasonable period after such acquisition or purchase, all actions necessary
under the UCC to perfect its interest in (i) any Accounts or Chattel Paper
purchased or otherwise acquired by it, as against its assignors and creditors of
its assignors and (ii) any Payment Intangibles or promissory notes purchased or
otherwise acquired by it, as against its assignors and creditors of its
assignors; PROVIDED that no Lien Grantor shall be required to take any such
action with respect to (a) Payment Intangibles or promissory notes evidencing
indebtedness of any Subsidiary other than a Material Subsidiary which is a
Unrestricted Subsidiary or (b) Collateral reasonably determined not to be
material by the Company.

     (k)  Such Lien Grantor's Collateral is insured as required by the Credit
Agreement.

     (l)  All of such Lien Grantor's Inventory has or will have been produced in
material compliance with the applicable requirements of the Fair Labor Standards
Act, as amended.

                                       21
<Page>

     (m)  As of the Effective Date, no Lien Grantor is the claimant with respect
to any Material Commercial Tort Claim. If any Lien Grantor acquires a Material
Commercial Tort Claim after the Effective Date, such Lien Grantor will within 30
days of becoming aware of its acquisition of such Material Commercial Tort Claim
sign and deliver a Security Agreement Supplement granting a Security Interest in
such Material Commercial Tort Claim (which shall be described therein in
specificity required to satisfy Official Comment 5 to UCC Section 9-108) to the
Collateral Agent for the benefit of the Secured Parties.

     (n)  As of the Effective Date, no Lien Grantor is the beneficiary under any
letter of credit other than (x) a Supporting Letter Credit and (y) letters of
credit with a maximum face amount of less than or equal to $5,000,000. If the
Lien Grantor becomes a beneficiary under a Letter of Credit which is not a
Supporting Letter of Credit and which has a maximum face amount exceeding
$5,000,000, such Lien Grantor will promptly (i) use commercially reasonable
efforts to cause the issuer of such letter of credit and each Nominated Person
(if any) with respect thereto to consent to an assignment of the proceeds of
such letter of credit to the Collateral Agent and (ii) deliver written evidence
of such consent to the Collateral Agent.

     (o)  No Lien Grantor is a party to any Material Government Contract that
has not been notified in writing to the Collateral Agent and made subject to the
Transaction Liens. Each Lien Grantor covenants that, if an Event of Default
shall have occurred and be continuing, such Lien Grantor will, promptly at the
request of the Collateral Agent, execute and deliver to the Collateral Agent all
assignments, notices of assignment and other documents required to be filed with
(x) any state or local government or agency or (y) the federal government of the
United States or any agency or instrumentality thereof in accordance with the
Assignment of Claims Act of 1940, as amended, 31 U.S.C. Section 3727 and 41
U.S.C. Section 15 (the "ASSIGNMENT OF CLAIMS ACT"), in either case to insure
compliance with the Assignment of Claims Act.

     Section 5.  FURTHER ASSURANCES; GENERAL COVENANTS. Each Lien Grantor
covenants as follows:

     (a)  Such Lien Grantor will, from time to time, at the Company's expense,
execute, deliver, file and record any statement, assignment, instrument,
document, agreement or other paper and take any other action (including any
Intellectual Property Filing and any filing of financing or continuation
statements under the UCC) that from time to time may be necessary or desirable,
or that the Collateral Agent may reasonably request, in order to:

            (i)  create, preserve, perfect, confirm or validate the Transaction
     Liens on such Lien Grantor's Collateral;

                                       22
<Page>

           (ii)  in the case of Pledged Deposit Accounts (other than Deposit
     Accounts which are not controlled Deposit Accounts due to the operation of
     Section 11(d)) and Pledged Letter-of-Credit Rights with respect to letters
     of credit which are not Supporting Letters of Credit and have a maximum
     face amount of more than $5,000,000, cause the Collateral Agent to have
     Control thereof;

          (iii)  enable the Collateral Agent and the other Secured Parties to
     obtain the full benefits of the Security Documents; or

           (iv)  enable the Collateral Agent to exercise and enforce any of its
     rights, powers and remedies with respect to any of such Lien Grantor's
     Collateral.

To the extent permitted by applicable law, such Lien Grantor authorizes the
Collateral Agent to execute and file such financing statements or continuation
statements without such Lien Grantor's signature appearing thereon. Such Lien
Grantor agrees that a carbon, photographic, photostatic or other reproduction of
this Agreement or of a financing statement is, to the extent permitted by
applicable law, sufficient as a financing statement. Such Lien Grantor
constitutes the Collateral Agent its attorney-in-fact to execute and file all
Intellectual Property Filings and other filings required or so requested for the
foregoing purposes, all acts of such attorney being hereby ratified and
confirmed; and such power, being coupled with an interest, shall be irrevocable
until all the Transaction Liens granted by such Lien Grantor terminate pursuant
to Section 23. The Company will pay the costs of, or incidental to, any
Intellectual Property Filings and any recording or filing of any financing or
continuation statements or other documents recorded or filed pursuant hereto.

     (b)  Such Lien Grantor will not (i) change its name or corporate structure,
(ii) change its location (determined as provided in UCC Section 9-307) or (iii)
except with respect to a Permitted Lien, become bound, as provided in UCC
Section 9-203(d) or otherwise, by a security agreement entered into by another
Person, unless it shall have given the Collateral Agent prior notice thereof and
delivered an Opinion of Counsel with respect thereto in accordance with Section
5(c).

     (c)  At least 15 days before it takes any action contemplated by Section
5(b), such Lien Grantor will, at the Company's expense, cause to be delivered to
the Collateral Agent an (i) Opinion of Counsel, in form and substance reasonably
satisfactory to the Collateral Agent, to the effect that all financing
statements and amendments or supplements thereto, continuation statements and
other documents required to be filed or recorded in order to perfect and protect
the Transaction Liens against all creditors of and purchasers from such Lien
Grantor after it takes

                                       23
<Page>

such action (except any continuation statements specified in such Opinion of
Counsel that are to be filed more than six months after the date thereof) have
been filed or recorded in each office necessary for such purpose and (ii) a
certificate of a Financial Officer of the relevant Lien Grantor to the effect
that (A) all fees and taxes, if any, payable in connection with such filings or
recordations have been paid in full and (B) except as otherwise agreed by the
Required Lenders, such action will not adversely affect the perfection or
priority of the Transaction Lien on any Collateral to be owned by such Lien
Grantor after it takes such action or the accuracy of such Lien Grantor's
representations and warranties herein relating to such Collateral.

     (d)  If any Collateral which the Collateral Agent, acting reasonably,
determines to be material is in the possession or control of a warehouseman,
bailee or agent at any time, such Lien Grantor will if requested to do so by the
Collateral Agent, (i) notify such warehouseman, bailee or agent of the relevant
Transaction Liens, (ii) instruct such warehouseman, bailee or agent to hold all
such Collateral for the Collateral Agent's account subject to the Collateral
Agent's instructions (which shall permit such Collateral to be removed by such
Lien Grantor in the ordinary course of business until the Collateral Agent
notifies such warehouseman, bailee or agent that an Event of Default has
occurred and is continuing), (iii) use commercially reasonable efforts to cause
such warehouseman, bailee or agent to Authenticate a Record acknowledging that
it holds possession of such Collateral for the Collateral Agent's benefit and
(iv) make such Authenticated Record available to the Collateral Agent.

     (e)  Such Lien Grantor will not sell, lease, exchange, assign or otherwise
dispose of, or grant any option with respect to, any of its Collateral; PROVIDED
that such Lien Grantor may do any of the foregoing unless (i) doing so would
violate a covenant in the Credit Agreement or (ii) an Event of Default shall
have occurred and be continuing and the Collateral Agent shall have notified
such Lien Grantor that its right to do so is terminated, suspended or otherwise
limited. Concurrently with any sale, lease or other disposition (except a sale
or disposition to another Lien Grantor or a lease) permitted by the foregoing
PROVISO, the Transaction Liens on the assets sold or disposed of (but not in any
Proceeds arising from such sale or disposition) will cease immediately without
any action by the Collateral Agent or any other Secured Party. The Collateral
Agent will, at the Company's expense, execute and deliver to the relevant Lien
Grantor all reasonably requested documents necessary to evidence a release of
the Transaction Liens, including if necessary to effect such sale the delivery
of any security certificates or Instruments held by the Collateral Agent and any
related stock or note powers or other instruments of transfer.

     (f)  Such Lien Grantor will, promptly upon request, provide to the
Collateral Agent all information and evidence concerning such Lien Grantor's

                                       24
<Page>

Collateral that the Collateral Agent may reasonably request from time to time to
enable it to enforce the provisions of the Security Documents. The obligations
of the Lien Grantor under this Section are subject to, and the Collateral Agent
shall comply with, all applicable confidentiality restrictions.

     Section 6.  ACCOUNTS. Each Lien Grantor represents, warrants and covenants
as follows:

     (a)  Such Lien Grantor will use commercially reasonable efforts to cause to
be collected from its account debtors, when due (subject to the immediately
succeeding sentence), all amounts owing under its Accounts (including delinquent
Accounts, which will be collected in accordance with lawful collection
procedures) and will apply all amounts collected thereon, forthwith upon receipt
thereof, to the outstanding balances of such Accounts. Subject to the rights of
the Collateral Agent and the other Secured Parties hereunder if an Event of
Default shall have occurred and be continuing, such Lien Grantor may allow in
the ordinary course of business as adjustments to amounts owing under its
Accounts (i) any extension or renewal of the time or times for payment, or
settlement for less than the total unpaid balance, that such Lien Grantor finds
appropriate in accordance with sound business judgment and (ii) refunds or
credits, all in the ordinary course of business and consistent with such Lien
Grantor's historical collection practices. The costs and expenses (including
attorney's fees) of collection, whether incurred by such Lien Grantor or the
Collateral Agent, shall be paid by such Lien Grantor.

     (b)  If payments with respect to any of such Lien Grantor's Accounts are
received in a lockbox or similar account, such Lien Grantor will, commencing on
the date that is 60 days after the Effective Date, (i) at all times cause such
account to be a Controlled Deposit Account and (ii) cause the relevant
depositary bank to subordinate to the relevant Transaction Lien all its claims
to such account (except its right to deduct its normal operating charges and any
uncollected funds previously credited thereto and other similar exceptions
reasonably acceptable to the Collateral Agent). The Collateral Agent will
instruct the relevant depositary bank to transfer funds credited to any such
account, as promptly as practicable after receipt thereof, to a Controlled
Deposit Account designated by such Lien Grantor; PROVIDED that, if an Event of
Default shall have occurred and be continuing, the Collateral Agent may
designate the Controlled Deposit Account to which such funds are transferred.

     (c)  If an Event of Default shall have occurred and be continuing, such
Lien Grantor will, if requested to do so by the Collateral Agent, promptly
notify (and such Lien Grantor authorizes the Collateral Agent so to notify) each
account debtor in respect of any of its Accounts that such Accounts have been
assigned to the Collateral Agent hereunder, and that any payments due or to
become due in

                                       25
<Page>

respect of such Accounts are to be made directly to the Collateral Agent or its
designee.

     Section 7.  INSTRUMENTS. Except as to actions to be taken by the Collateral
Agent, each Lien Grantor represents, warrants and covenants as follows:

     (a)  On the Effective Date (in the case of an Original Lien Grantor) or the
date on which it signs and delivers its first Security Agreement Supplement (in
the case of any other Lien Grantor), such Lien Grantor will deliver to the
Collateral Agent as Collateral hereunder all Pledged Instruments individually in
an amount in excess of $1,000,000 then owned by such Lien Grantor. Thereafter,
whenever such Lien Grantor acquires any other Pledged Instrument individually in
an amount in excess of $1,000,000, such Lien Grantor will promptly deliver such
Pledged Instrument to the Collateral Agent as Collateral hereunder.

     (b)  So long as no Event of Default shall have occurred and be continuing,
the Collateral Agent will, promptly upon request by the relevant Lien Grantor,
make appropriate arrangements for making any Pledged Instrument available to it
for purposes of presentation, collection or renewal (any such arrangement to be
effected, to the extent deemed appropriate by the Collateral Agent, against
trust receipt or like document).

     (c)  All Pledged Instruments owned by such Lien Grantor, when delivered to
the Collateral Agent, will be indorsed to the order of the Collateral Agent, or
accompanied by duly executed instruments of assignment, with signatures
appropriately guaranteed (if required for effective assignment), all in form and
substance reasonably satisfactory to the Collateral Agent.

     (d)  Upon the delivery of any Pledged Instrument owned by such Lien Grantor
to the Collateral Agent, the Transaction Lien on such Collateral will be
perfected, subject to no prior Liens or rights of others other than Permitted
Liens.

     Section 8.  RECORDABLE INTELLECTUAL PROPERTY. Each Lien Grantor covenants
as follows:

     (a)  On or prior to the Effective Date (in the case of an Original Lien
Grantor) or the date on which it signs and delivers its first Security Agreement
Supplement (in the case of any other Lien Grantor), such Lien Grantor will sign
and deliver to the Collateral Agent Intellectual Property Security Agreements
with respect to all Material Recordable Intellectual Property then owned by it,
except with respect to any Material Recordable Intellectual Property that is a
Patent or Patent License. On or prior to the day which is 30 days after the
Effective Date (in the case of an Original Lien Grantor) or the date on which it
signs and delivers its first Security Agreement Supplement (in the case of any
other Lien Grantor),

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such Lien Grantor will sign and deliver to the Collateral Agent Intellectual
Property Security Agreements with respect to any Material Recordable
Intellectual Property that is a Patent or Patent License and is then owned by
such Lien Grantor and identified by such Lien Grantor after using commercially
reasonable efforts. Within 30 days after each March 31 and September 30
thereafter, it will sign and deliver to the Collateral Agent any Intellectual
Property Security Agreement necessary to grant Transaction Liens on all Material
Recordable Intellectual Property owned by it on such March 31 or September 30
that is not covered by any previous Intellectual Property Security Agreement so
signed and delivered by it. In each case, it will promptly make all Intellectual
Property Filings necessary to record the Transaction Liens on such Material
Recordable Intellectual Property.

     (b)  Such Lien Grantor will notify the Collateral Agent promptly if it
knows that any application or registration relating to any Material Recordable
Intellectual Property owned or licensed by it may become abandoned or dedicated
to the public, or of any material adverse determination or development
(including the institution of, or any material adverse determination or
development in, any proceeding in the United States Copyright Office, the United
States Patent and Trademark Office or any court) regarding such Lien Grantor's
ownership of such Material Recordable Intellectual Property, its right to
register or patent the same, or its right to keep and maintain the same. If any
of such Lien Grantor's rights to any Material Recordable Intellectual Property
are infringed, misappropriated or diluted by a third party, such Lien Grantor
will notify the Collateral Agent within 30 days after it learns thereof and will
take such commercially reasonable steps consistent with its past practices, to
sue for infringement, misappropriation or dilution and to recover any and all
damages for such infringement, misappropriation or dilution, or take such other
actions as such Lien Grantor shall reasonably deem appropriate under the
circumstances to protect such Material Recordable Intellectual Property.

     Section 9.  INVESTMENT PROPERTY. Each Lien Grantor represents, warrants and
covenants as follows:

     (a)  CERTIFICATED SECURITIES. On (i) the Effective Date (in the case of an
Original Lien Grantor) or (ii) the date on which it signs and delivers its first
Security Agreement Supplement (in the case of any other Lien Grantor), such Lien
Grantor will deliver to the Collateral Agent as Collateral hereunder all
certificates representing Pledged Certificated Securities issued by any Material
Subsidiary which is an Unrestricted Subsidiary then owned by such Lien Grantor.
Thereafter, whenever such Lien Grantor acquires any other certificate
representing such a Pledged Certificated Security, such Lien Grantor will
promptly deliver such certificate to the Collateral Agent as Collateral
hereunder.

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<Page>

The provisions of this subsection are subject to the limitation in Section 9(l)
in the case of voting Equity Interests in a Foreign Subsidiary.

     (b)  UNCERTIFICATED SECURITIES. On or prior to the day which is 60 (30 if
the applicable issuer is a Subsidiary) days after (i) the Effective Date (in the
case of an Original Lien Grantor) or (ii) the date on which it signs and
delivers its first Security Agreement Supplement (in the case of any other Lien
Grantor), such Lien Grantor will enter into (and use commercially reasonable
efforts to cause the relevant issuer to enter into) an Issuer Control Agreement
in respect of each such Pledged Uncertificated Security issued by any Material
Subsidiary which is an Unrestricted Subsidiary then owned by such Lien Grantor
and deliver such Issuer Control Agreement to the Collateral Agent (which shall
enter into the same). Thereafter, within 60 days after such Lien Grantor
acquires any other Pledged Uncertificated Security, such Lien Grantor will enter
into (and use commercially reasonable efforts to cause the relevant issuer to
enter into) an Issuer Control Agreement in respect of such Pledged
Uncertificated Security and deliver such Issuer Control Agreement to the
Collateral Agent (which shall enter into the same). The provisions of this
subsection are subject to (iii) the limitation in Section 9(l) in the case of
voting Equity Interests in a Foreign Subsidiary and (iv) Sections 9(m) and
14(c).

     (c)  SECURITY ENTITLEMENTS. On or prior to the day which is 60 days after
(i) the Effective Date (in the case of an Original Lien Grantor) or (ii) the
date on which it signs and delivers its first Security Agreement Supplement (in
the case of any other Lien Grantor), such Lien Grantor will, with respect to
each Security Entitlement then owned by it, enter into (and cause the relevant
Securities Intermediary to enter into) a Securities Account Control Agreement in
respect of such Security Entitlement and the Securities Account to which the
underlying Financial Asset is credited and will deliver such Securities Account
Control Agreement to the Collateral Agent (which shall enter into the same).
Thereafter, whenever such Lien Grantor acquires any other Security Entitlement,
such Lien Grantor will, as promptly as practicable, cause the underlying
Financial Asset to be credited to a Controlled Securities Account. The
provisions of this subsection are subject to Section 14(c).

     (d)  COMMODITY ACCOUNTS. On or prior to the day which is 60 days after (i)
the Effective Date (in the case of an Original Lien Grantor) or (ii) the date on
which it signs and delivers its first Security Agreement Supplement (in the case
of any other Lien Grantor), such Lien Grantor will enter into (and cause the
relevant Commodity Intermediary to enter into) a Commodity Account Control
Agreement in respect of each Commodity Account then owned by it and will deliver
such Commodity Account Control Agreement to the Collateral Agent (which shall
enter into the same). Thereafter, such Lien Grantor will, as promptly as

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<Page>

practicable, cause each Commodity Contract owned by it to be carried at all
times in a Controlled Commodity Account.

     (e)  PERFECTION AS TO CERTIFICATED SECURITIES. When such Lien Grantor
delivers the certificate representing any Pledged Certificated Security owned by
it to the Collateral Agent and complies with Section 9(j) in connection with
such delivery, (i) the Transaction Lien on such Pledged Certificated Security
will be perfected, subject to no prior Liens or rights of others (other than
Liens permitted by Section 6.01(b) or Section 6.01(g) of the Credit Agreement),
(ii) the Collateral Agent will have Control of such Pledged Certificated
Security and (iii) the Collateral Agent will be a protected purchaser (within
the meaning of UCC Section 8-303) thereof.

     (f)  PERFECTION AS TO UNCERTIFICATED SECURITIES. When such Lien Grantor,
the Collateral Agent and the issuer of any Pledged Uncertificated Security owned
by such Lien Grantor enter into an Issuer Control Agreement with respect
thereto, (i) the Transaction Lien on such Pledged Uncertificated Security will
be perfected, subject to no prior Liens or rights of others (other than Liens
permitted by Section 6.01(b) or Section 6.01(g) of the Credit Agreement), (ii)
the Collateral Agent will have Control of such Pledged Uncertificated Security
and (iii) the Collateral Agent will be a protected purchaser (within the meaning
of UCC Section 8-303) thereof.

     (g)  PERFECTION AS TO SECURITY ENTITLEMENTS. So long as the Financial Asset
underlying any Security Entitlement owned by such Lien Grantor is credited to a
Controlled Securities Account or to its Investment Property Collateral Account,
(i) the Transaction Lien on such Security Entitlement will be perfected, subject
to no prior Liens or rights of others (except Liens and rights of the relevant
Securities Intermediary that are Permitted Liens and any other Liens Permitted
by Section 6.01(b) or Section 6.01(g) of the Credit Agreement), (ii) the
Collateral Agent will have Control of such Security Entitlement and (iii) no
action based on an adverse claim to such Security Entitlement or such Financial
Asset, whether framed in conversion, replevin, constructive trust, equitable
lien or other theory (except Liens and rights of the relevant Securities
Intermediary that are Permitted Liens and any other Liens Permitted by Section
6.01(b) or Section 6.01(g) of the Credit Agreement), may be asserted against the
Collateral Agent or any other Secured Party.

     (h)  PERFECTION AS TO COMMODITY ACCOUNTS. So long as any Commodity Account
is subject to a Commodity Account Control Agreement, (i) the Transaction Liens
on such Commodity Account and all Commodity Contracts carried therein will be
perfected, subject to no prior Liens or rights of others (except Liens and
rights of the relevant Commodity Intermediary permitted by such Commodity
Account Control Agreement and Liens permitted by Section

                                       29
<Page>

6.01(b) or Section 6.01(g) of the Credit Agreement) and (ii) the Collateral
Agent will have Control of such Commodity Account and all Commodity Contracts
carried therein from time to time.

     (i)  AGREEMENT AS TO APPLICABLE JURISDICTION. In respect of all Security
Entitlements owned by such Lien Grantor, and all Securities Accounts to which
the related Financial Assets are credited, the Securities Intermediary's
jurisdiction (determined as provided in UCC Section 8-110(e)) will at all times
be located in the United States. In respect of all Commodity Contracts owned by
such Lien Grantor and all Commodity Accounts in which such Commodity Contracts
are carried, the Commodity Intermediary's jurisdiction (determined as provided
in UCC Section 9-305(b)) will at all times be located in the United States.

     (j)  DELIVERY OF PLEDGED CERTIFICATES. All Pledged Certificates, when
delivered to the Collateral Agent, will be in suitable form for transfer by
delivery, or accompanied by duly executed instruments of transfer or assignment
in blank, with signatures appropriately guaranteed (if required for effective
transfer), all in form and substance reasonably satisfactory to the Collateral
Agent.

     (k)  COMMUNICATIONS. Each Lien Grantor will promptly upon request by the
Collateral Agent give to the Collateral Agent copies of any notices and other
communications received by it with respect to (i) Pledged Securities registered
in the name of such Lien Grantor or its nominee and (ii) Pledged Security
Entitlements as to which such Lien Grantor is the Entitlement Holder.

     (l)  FOREIGN SUBSIDIARIES. A Lien Grantor will not be obligated to comply
with the provisions of this Section at any time with respect to any voting
Equity Interest in a Foreign Subsidiary if and to the extent (but only to the
extent) that such voting Equity Interest is excluded from the Transaction Liens
at such time pursuant to clause (B) of the proviso at the end of Section 3(a)
and/or the comparable provisions of one or more Security Agreement Supplements.
A Lien Grantor will not be obligated to deliver certificates representing
Pledged Certificated Securities issued by Foreign Subsidiaries in accordance
with Section 9(a) until the day that is 21 days after the Effective Date.

     (m)  COMPLIANCE WITH APPLICABLE FOREIGN LAWS. If and so long as the
Collateral includes (i) any Equity Interest in, or other Investment Property
issued by, a legal entity organized under the laws of a jurisdiction outside the
United States or (ii) any Security Entitlement in respect of a Financial Asset
issued by such a foreign legal entity, the relevant Lien Grantor will take all
such action as may be required under the laws of such foreign jurisdiction to
ensure that the Transaction Lien on such Collateral ranks prior to all Liens and
rights of others therein. If and so long as the Collateral includes any Pledged
Uncertificated Security issued by such a foreign legal entity, the relevant Lien
Grantor will

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<Page>

comply with this subsection, and will not be required to comply with Section
9(b), with respect thereto.

     Section 10. INVESTMENT PROPERTY COLLATERAL ACCOUNTS. (a) At any time when
an Event of Default has occurred and is continuing, the Collateral Agent will
establish, at an office located in the United States, a Securities Account with
respect to each Lien Grantor (such Lien Grantor's "INVESTMENT PROPERTY
COLLATERAL ACCOUNT"), in the name and under the exclusive control of the
Collateral Agent, to which there shall be credited from time to time (i) all
Securities that are to be credited thereto pursuant to Section 14(a) or any
other provision of any Security Document, (ii) any other Financial Assets that
underlie Security Entitlements included in such Lien Grantor's Collateral and
(iii) the cash proceeds thereof. Each Investment Property Collateral Account
will be operated as provided in Section 13.

     (b)  The Collateral Agent and each Lien Grantor agree (and will cause the
relevant Securities Intermediary, if other than the Collateral Agent, to agree)
that (i) such Lien Grantor's Investment Property Collateral Account will be a
Securities Account, (ii) the Collateral Agent will be the Entitlement Holder
with respect thereto and (iii) all property (whether Investment Property,
financial asset, security, instrument, cash or other property) credited to such
account will be treated as Financial Assets.

     Section 11. CONTROLLED DEPOSIT ACCOUNTS. Each Lien Grantor represents,
warrants and covenants as follows:

     (a)  On and after the day which is 60 days after the Effective Date, all
cash owned by such Lien Grantor will be deposited, upon or promptly after the
receipt thereof, in one or more Controlled Deposit Accounts. Each Controlled
Deposit Account will be operated as provided in Section 13. The provisions of
this subsection are subject to Section 11(d).

     (b)  In respect of each Controlled Deposit Account, the Depositary Bank's
jurisdiction (determined as provided in UCC Section 9-304) will at all times be
a jurisdiction in which Article 9 is in effect.

     (c)  So long as the Collateral Agent has Control of a Controlled Deposit
Account, the Transaction Lien on such Controlled Deposit Account will be
perfected, subject to no prior Liens or rights of others (except the Depositary
Bank's right to deduct its normal operating charges and any uncollected funds
previously credited thereto and other similar exceptions reasonably acceptable
to the Collateral Agent).

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     (d)  MATERIALITY EXCEPTION. The Lien Grantors have the right not to comply
with the foregoing provisions of this Section with respect to Deposit Accounts
having collected balances that do not at any time exceed $10,000,000 in the
aggregate for all Lien Grantors. However, if an Event of Default occurs and is
continuing, the Administrative Agent may terminate the foregoing right not to
comply, or reduce the amount thereof, by giving at least ten Business Days'
notice of such termination or reduction to the relevant Lien Grantors.

     Section 12. CASH COLLATERAL ACCOUNTS. (a) If and when required for purposes
hereof, the Collateral Agent will establish with respect to each Lien Grantor an
account (its "CASH COLLATERAL ACCOUNT"), in the name and under the exclusive
control of the Collateral Agent, into which all amounts owned by such Lien
Grantor that are to be deposited therein pursuant to the Loan Documents shall be
deposited from time to time. Each Cash Collateral Account will be operated as
provided in this Section and Section 13.

     (b)  The Collateral Agent shall deposit the following amounts, as and when
received by it, in the applicable Lien Grantor's Cash Collateral Account:

            (i)  each amount required by Section 2.05(k) of the Credit Agreement
     to be deposited therein to cover LC Disbursements which have not been
     reimbursed by the Company;

           (ii)  each Cash Distribution required by Section 16 to be deposited
     therein; and

          (iii)  each amount realized or otherwise received by the Collateral
     Agent with respect to assets of the relevant Lien Grantor upon any exercise
     of remedies pursuant to any Security Document.

     (c)  The Collateral Agent shall maintain such records and/or establish such
sub-accounts as shall be required to enable it to identify the amounts held in
each Cash Collateral Account from time to time pursuant to each clause of
subsection (b) of this Section.

     (d)  Unless (x) an Event of Default shall have occurred and be continuing
and the Required Lenders shall have instructed the Collateral Agent to stop
withdrawing amounts from the Cash Collateral Accounts pursuant to this
subsection or (y) the maturity of the Loans shall have been accelerated pursuant
to Article 8 of the Credit Agreement, the Collateral Agent shall withdraw
amounts from the Cash Collateral Accounts and apply them for the following
purposes:

            (i)  any amount deposited pursuant to Section 2.05(k) of the Credit
     Agreement Obligations shall be withdrawn and applied to

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<Page>

     reimburse LC Disbursements as they become due; PROVIDED that such amount
     (to the extent not theretofore applied) shall be withdrawn and returned to
     the Company if and when permitted by said Section 2.05(k).

           (ii)  any Cash Distribution deposited pursuant to Section 16 shall,
     at the relevant Lien Grantor's request, (x) be withdrawn and applied to pay
     Secured Obligations that are then due and payable or (y) if no Event of
     Default has occurred and is continuing, be withdrawn and returned to such
     Lien Grantor.

     Section 13. OPERATION OF COLLATERAL ACCOUNTS. (a) All Cash Distributions
received with respect to assets held in any Collateral Account shall be
deposited therein promptly upon receipt thereof.

     (b)  Funds held in any Controlled Securities Account or Investment Property
Collateral Account may, until withdrawn, be invested and reinvested in such
investments as the relevant Lien Grantor shall request from time to time;
PROVIDED that, if an Event of Default shall have occurred and be continuing, the
Collateral Agent may select such investments.

     (c)  Funds held in any Controlled Deposit Account or Cash Collateral
Account may, until withdrawn, be invested and reinvested in such Permitted
Investments as the relevant Lien Grantor shall request from time to time;
PROVIDED that (i) if an Event of Default shall have occurred and be continuing,
Collateral Agent may select such Permitted Investments and (ii) if such
Permitted Investments are to be held in a Securities Account, either (x) the
Collateral Agent is the Entitlement Holder with respect to such Permitted
Investments or (y) the relevant Entitlement Holder and the relevant Securities
Intermediary shall have theretofore entered into a Securities Account Control
Agreement with respect to such Securities Account and delivered it to the
Collateral Agent (which shall enter into the same).

     (d)  With respect to each Collateral Account (except a Cash Collateral
Account, as to which Section 12 applies), the Collateral Agent will instruct the
relevant Securities Intermediary or Depositary Bank that the relevant Lien
Grantor may withdraw, or direct the disposition of, funds held therein unless
and until the Collateral Agent rescinds such instruction. The Collateral Agent
will not rescind such instructions unless an Event of Default shall have
occurred and be continuing.

     (e)  If an Event of Default shall have occurred and be continuing, the
Collateral Agent may (i) retain, or instruct the relevant Securities
Intermediary or Depositary Bank to retain, all cash and investments then held in
any Collateral Account, (ii) liquidate, or instruct the relevant Securities
Intermediary or

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<Page>

Depositary Bank to liquidate, any or all investments held therein and/or (iii)
withdraw any amounts held therein and apply such amounts as provided in Section
18.

     (f)  If at any time after the occurrence and during the continuance of an
Event of Default immediately available cash on deposit in any Collateral Account
is not sufficient to make any distribution or withdrawal required to be made
pursuant hereto, the Collateral Agent will cause to be liquidated, as promptly
as practicable, such investments held in or credited to such Collateral Account
as shall be required to obtain sufficient cash to make such distribution or
withdrawal and, notwithstanding any other provision hereof, such distribution or
withdrawal shall not be made until such liquidation has taken place.

     Section 14. TRANSFER OF RECORD OWNERSHIP. (a) At any time when an Event of
Default shall have occurred and be continuing, the Collateral Agent may (and to
the extent that action by it is required, the relevant Lien Grantor, if directed
to do so by the Collateral Agent, will as promptly as practicable):

            (i)  cause each of the Pledged Securities (or any portion thereof
     specified in such direction) to be (x) transferred of record into the name
     of the Collateral Agent or its nominee or (y) credited to the relevant Lien
     Grantor's Investment Property Collateral Account; and

           (ii)  cause the Financial Asset underlying each Pledged Security
     Entitlement to be credited to the relevant Lien Grantor's Investment
     Property Collateral Account;

     (b)  PERFECTION UPON TRANSFER OF RECORD OWNERSHIP. If and when any Pledged
Security (whether certificated or uncertificated) owned by such Lien Grantor is
transferred of record into the name of the Collateral Agent or its nominee
pursuant to Section 14(a), (i) the Transaction Lien on such Pledged Security
will be perfected, subject to no prior Liens or rights of others (other than
Liens which are permitted by Section 6.01(b) or Section 6.01(g) of the Credit
Agreement) , (ii) the Collateral Agent will have Control of such Pledged
Security and (iii) the Collateral Agent will be a protected purchaser (within
the meaning of UCC Section 8-303) thereof. If and when any Pledged Security
owned by such Lien Grantor is credited to its Investment Property Collateral
Account pursuant to Section 14(a), Section 9(g) will apply to the resulting
Security Entitlement.

     (c)  PROVISIONS INAPPLICABLE AFTER TRANSFER OF RECORD OWNERSHIP. If the
provisions of Section 14(a) are implemented, Sections 9(b) and 9(c) shall not
thereafter apply to (i) any Pledged Security that is registered in the name of
the Collateral Agent or its nominee or (ii) any Security Entitlement in respect
of which the Collateral Agent or its nominee is the Entitlement Holder.

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<Page>

     (d)  COMMUNICATIONS AFTER TRANSFER OF RECORD OWNERSHIP. The Collateral
Agent will promptly give to the relevant Lien Grantor copies of any notices and
other communications received by the Collateral Agent with respect to (i)
Pledged Securities registered in the name of the Collateral Agent or its nominee
and (ii) Pledged Security Entitlements as to which the Collateral Agent or its
nominee is the Entitlement Holder.

     Section 15. RIGHT TO VOTE SECURITIES. (a) Unless an Event of Default shall
have occurred and be continuing, each Lien Grantor will have the right, from
time to time, to vote and to give consents, ratifications and waivers with
respect to any Pledged Security owned by it and the Financial Asset underlying
any Pledged Security Entitlement owned by it, and the Collateral Agent will,
upon receiving a written request from such Lien Grantor, deliver to such Lien
Grantor or as specified in such request such proxies, powers of attorney,
consents, ratifications and waivers in respect of any such Pledged Security that
is registered in the name of the Collateral Agent or its nominee or any such
Pledged Security Entitlement as to which the Collateral Agent or its nominee is
the Entitlement Holder, in each case as shall be specified in such request and
be in form and substance reasonably satisfactory to the Collateral Agent. Unless
an Event of Default shall have occurred and be continuing, the Collateral Agent
will have no right to take any action which the owner of a Pledged Partnership
Interest or Pledged LLC Interest is entitled to take with respect thereto,
except the right to receive payments and other distributions to the extent
provided herein.

     (b)  If an Event of Default shall have occurred and be continuing, the
Collateral Agent will have the right to the extent permitted by law (and, in the
case of a Pledged Partnership Interest or Pledged LLC Interest, by the relevant
partnership agreement, limited liability company agreement, operating agreement
or other governing document) to vote, to give consents, ratifications and
waivers and to take any other action with respect to the Pledged Investment
Property, the other Pledged Equity Interests (if any) and the Financial Assets
underlying the Pledged Security Entitlements, with the same force and effect as
if the Collateral Agent were the absolute and sole owner thereof, and each Lien
Grantor will take all such action as the Collateral Agent may reasonably request
from time to time to give effect to such right.

     Section 16. CERTAIN CASH DISTRIBUTIONS. Cash Distributions with respect to
assets held in a Collateral Account shall be deposited and held therein, or
withdrawn therefrom, as provided in Section 13. Cash Distributions received
after the date which is 60 days after the Effective Date with respect to any
Pledged Equity Interest or Pledged Indebtedness that is not held in a Collateral
Account (whether held in the name of a Lien Grantor or in the name of the
Collateral Agent or its nominee) shall be deposited, promptly upon receipt
thereof, in a Controlled Deposit Account of the relevant Lien Grantor; PROVIDED

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<Page>

that, if an Event of Default shall have occurred and be continuing, the
Collateral Agent may deposit, or direct the recipient thereof to deposit, each
such Cash Distribution in the relevant Lien Grantor's Cash Collateral Account.

     Section 17. REMEDIES UPON EVENT OF DEFAULT. (a) If an Event of Default
shall have occurred and be continuing, the Collateral Agent may exercise (or
cause its sub-agents to exercise) any or all of the remedies available to it (or
to such sub-agents) under the Security Documents.

     (b)  Without limiting the generality of the foregoing, if an Event of
Default shall have occurred and be continuing, the Collateral Agent may exercise
on behalf of the Secured Parties all the rights of a secured party under the UCC
(whether or not in effect in the jurisdiction where such rights are exercised)
with respect to any Collateral and, in addition, the Collateral Agent may,
without being required to give any notice, except as herein provided or as may
be required by mandatory provisions of law, withdraw all cash held in the
Collateral Accounts and apply such cash as provided in Section 18 and, if there
shall be no such cash or if such cash shall be insufficient to pay all the
Secured Obligations in full, sell, lease, license or otherwise dispose of the
Collateral or any part thereof. Notice of any such sale or other disposition
shall be given to the relevant Lien Grantor(s) as required by Section 20.

     (c)  Without limiting the generality of the foregoing, if an Event of
Default shall have occurred and be continuing:

            (i)  the Collateral Agent may license or sublicense, whether
     general, special or otherwise, and whether on an exclusive or non-exclusive
     basis, any Pledged intellectual property (including any Pledged Recordable
     Intellectual Property) throughout the world for such term or terms, on such
     conditions and in such manner as the Collateral Agent shall in its sole
     discretion determine; PROVIDED that such licenses or sublicenses do not
     conflict with any existing license of which the Collateral Agent shall have
     received a copy;

           (ii)  the Collateral Agent may (without assuming any obligation or
     liability thereunder), at any time and from time to time, in its sole and
     reasonable discretion, enforce (and shall have the exclusive right to
     enforce) against any licensee or sublicensee all rights and remedies of any
     Lien Grantor in, to and under any of its Pledged intellectual property and
     take or refrain from taking any action under any thereof, and each Lien
     Grantor releases the Collateral Agent and each other Secured Party from
     liability for, and agrees to hold the Collateral Agent and each other
     Secured Party free and harmless from and against any claims and expenses
     arising out of, any lawful action so taken or omitted to be taken with

                                       36
<Page>

     respect thereto, except for claims and expenses arising from the Collateral
     Agent's or such Secured Party's gross negligence or willful misconduct; and

          (iii)  upon request by the Collateral Agent (which shall not be
     construed as implying any limitation on its rights or powers), each Lien
     Grantor will execute and deliver to the Collateral Agent a power of
     attorney, in form and substance reasonably satisfactory to the Collateral
     Agent, for the implementation of any sale, lease, license or other
     disposition of any of such Lien Grantor's Pledged intellectual property or
     any action related thereto. In connection with any such disposition, but
     subject to any confidentiality restrictions imposed on such Lien Grantor in
     any license or similar agreement, such Lien Grantor will supply to the
     Collateral Agent its know-how and expertise relating to the relevant
     intellectual property or the products or services made or rendered in
     connection with such intellectual property, and its customer lists and
     other records relating to such intellectual property and to the
     distribution of said products or services.

     Section 18. APPLICATION OF PROCEEDS. (a) If an Event of Default shall have
occurred and be continuing, the Collateral Agent may apply (i) any cash held in
the Collateral Accounts and (ii) the proceeds of any sale or other disposition
of all or any part of the Collateral, in the following order of priorities:

          FIRST,    to pay the expenses of such sale or other disposition,
     including reasonable compensation to agents of and counsel for the
     Collateral Agent, and all expenses, liabilities and advances incurred or
     made by the Collateral Agent in connection with the Security Documents, and
     any other amounts then due and payable to the Collateral Agent pursuant to
     Section 19 or pursuant to Section 12.03 of the Credit Agreement;

          SECOND,   to pay the unpaid principal of the Secured Obligations
     ratably (or provide for the payment thereof pursuant to Section 18(b)),
     until payment in full of the principal of all Secured Obligations shall
     have been made (or so provided for);

          THIRD,    to pay ratably (i) all interest (including Post-Petition
     Interest) on the Secured Obligations and (ii) all commitment fees and
     participation fees payable under the Credit Agreement, until payment in
     full of all such interest and fees shall have been made;

          FOURTH,   to pay all other Secured Obligations ratably (or provide for
     the payment thereof pursuant to Section 18(b)), until payment in full of
     all

                                       37
<Page>

     such other Secured Obligations shall have been made (or so provided for);
     and

          FINALLY,  to pay to the relevant Lien Grantor, or as a court of
     competent jurisdiction may direct, any surplus then remaining from the
     proceeds of the Collateral owned by it;

PROVIDED that Collateral owned by a Subsidiary Guarantor and any proceeds
thereof shall be applied pursuant to the foregoing clauses FIRST, SECOND, THIRD
and FOURTH only to the extent permitted by the limitation in Section 2(i). The
Collateral Agent may make such distributions hereunder in cash or in kind or, on
a ratable basis, in any combination thereof.

     (b)  If at any time any portion of any monies collected or received by the
Collateral Agent would, but for the provisions of this Section 18(b), be payable
pursuant to Section 18(a) in respect of a Contingent Secured Obligation, the
Collateral Agent shall not apply any monies to pay such Contingent Secured
Obligation but instead shall request the holder thereof, at least 10 days before
each proposed distribution hereunder, to notify the Collateral Agent as to the
maximum amount of such Contingent Secured Obligation if then ascertainable
(E.G., in the case of a letter of credit, the maximum amount available for
subsequent drawings thereunder). If the holder of such Contingent Secured
Obligation does not notify the Collateral Agent of the maximum ascertainable
amount thereof at least two Business Days before such distribution, such holder
will not be entitled to share in such distribution. If such holder does so
notify the Collateral Agent as to the maximum ascertainable amount thereof, the
Collateral Agent will allocate to such holder a portion of the monies to be
distributed in such distribution, calculated as if such Contingent Secured
Obligation were outstanding in such maximum ascertainable amount. However, the
Collateral Agent will not apply such portion of such monies to pay such
Contingent Secured Obligation, but instead will hold such monies or invest such
monies in Liquid Investments. All such monies and Liquid Investments and all
proceeds thereof will constitute Collateral hereunder, but will be subject to
distribution in accordance with this Section 18(b) rather than Section 18(a).
The Collateral Agent will hold all such monies and Liquid Investments and the
net proceeds thereof in trust until all or part of such Contingent Secured
Obligation becomes a Non-Contingent Secured Obligation, whereupon the Collateral
Agent at the request of the relevant Secured Party will apply the amount so held
in trust to pay such Non-Contingent Secured Obligation; PROVIDED that, if the
other Secured Obligations theretofore paid pursuant to the same clause of
Section 18(a) (I.E., clause SECOND or FOURTH) were not paid in full, the
Collateral Agent will apply the amount so held in trust to pay the same
percentage of such Non-Contingent Secured Obligation as the percentage of such
other Secured Obligations theretofore paid pursuant to the same clause of
Section 18(a). If (i) the holder of such Contingent Secured

                                       38
<Page>

Obligation shall advise the Collateral Agent that no portion thereof remains in
the category of a Contingent Secured Obligation and (ii) the Collateral Agent
still holds any amount held in trust pursuant to this Section 18(b) in respect
of such Contingent Secured Obligation (after paying all amounts payable pursuant
to the preceding sentence with respect to any portions thereof that became
Non-Contingent Secured Obligations), such remaining amount will be applied by
the Collateral Agent in the order of priorities set forth in Section 18(a).

     (c)  In making the payments and allocations required by this Section, the
Collateral Agent may rely upon information supplied to it pursuant to Section
22(f). All distributions made by the Collateral Agent pursuant to this Section
shall be final (except in the event of manifest error) and the Collateral Agent
shall have no duty to inquire as to the application by any Secured Party of any
amount distributed to it.

     Section 19. FEES AND EXPENSES; INDEMNIFICATION. (a) The Company will
forthwith upon demand pay to the Collateral Agent:

            (i)  the amount of any taxes that the Collateral Agent may have
     been required to pay by reason of the Transaction Liens or to free any
     Collateral from any other Lien thereon;

           (ii)  the amount of any and all reasonable out-of-pocket expenses,
     including transfer taxes and reasonable fees and expenses of counsel and
     other experts, that the Collateral Agent may incur in connection with (x)
     the administration or enforcement of the Security Documents, including such
     expenses as are incurred to preserve the value of the Collateral or the
     validity, perfection, rank or value of any Transaction Lien, (y) the
     collection, sale or other disposition of any Collateral or (z) the exercise
     by the Collateral Agent of any of its rights or powers under the Security
     Documents;

          (iii)  the amount of any fees that the Company shall have agreed in
     writing to pay to the Collateral Agent and that shall have become due and
     payable in accordance with such written agreement; and

           (iv)  the amount required to indemnify the Collateral Agent for, or
     hold it harmless and defend it against, any loss, liability or expense
     (including the reasonable fees and expenses of its counsel and any experts
     or sub-agents appointed by it hereunder) incurred or suffered by the
     Collateral Agent in connection with the Security Documents, except to the
     extent that such loss, liability or expense arises from the Collateral
     Agent's gross negligence or willful misconduct or a breach of any duty

                                       39
<Page>

     that the Collateral Agent has under this Agreement (after giving effect to
     Sections 21 and 22).

Any such amount not paid to the Collateral Agent on demand will bear interest
for each day thereafter until paid at a rate per annum equal to the sum of 2%
plus the rate applicable to ABR Loans for such day.

     (b)  If any transfer tax, documentary stamp tax or other tax is payable in
connection with any transfer or other transaction provided for in the Security
Documents, the Company will pay such tax and provide any required tax stamps to
the Collateral Agent or as otherwise required by law.

     (c)  The Company shall indemnify each of the Secured Parties, their
respective affiliates and the respective directors, officers, agents and
employees of the foregoing (each an "INDEMNITEE") against, and hold each
Indemnitee harmless from, any and all liabilities, losses, damages, costs and
expenses of any kind (including reasonable expenses of investigation by
engineers, environmental consultants and similar technical personnel and
reasonable fees and disbursements of counsel) arising out of, or in connection
with any and all Environmental Liabilities. Without limiting the generality of
the foregoing, each Lien Grantor waives all rights for contribution and all
other rights of recovery with respect to liabilities, losses, damages, costs and
expenses arising under or related to Environmental Laws that it might have by
statute or otherwise against any Indemnitee.

     Section 20. AUTHORITY TO ADMINISTER COLLATERAL. Each Lien Grantor
irrevocably appoints the Collateral Agent its true and lawful attorney, with
full power of substitution, in the name of such Lien Grantor, any Secured Party
or otherwise, for the sole use and benefit of the Secured Parties, but at the
Company's expense, to the extent permitted by law to exercise, at any time and
from time to time while an Event of Default shall have occurred and be
continuing, all or any of the following powers with respect to all or any of
such Lien Grantor's Collateral:

          (a)    to demand, sue for, collect, receive and give acquittance for
     any and all monies due or to become due upon or by virtue thereof,

          (b)    to settle, compromise, compound, prosecute or defend any action
     or proceeding with respect thereto,

          (c)    to sell, lease, license or otherwise dispose of the same or the
     proceeds or avails thereof, as fully and effectually as if the Collateral
     Agent were the absolute owner thereof, and

                                       40
<Page>

          (d)    to extend the time of payment of any or all thereof and to make
     any allowance or other adjustment with reference thereto;

PROVIDED that, except in the case of Collateral that is perishable or threatens
to decline speedily in value or is of a type customarily sold on a recognized
market, the Collateral Agent will give the relevant Lien Grantor at least ten
days' prior written notice of the time and place of any public sale thereof or
the time after which any private sale or other intended disposition thereof will
be made. Any such notice shall (i) contain the information specified in UCC
Section 9-613, (ii) be Authenticated and (iii) be sent to the parties required
to be notified pursuant to UCC Section 9-611(c); PROVIDED that, if the
Collateral Agent fails to comply with this sentence in any respect, its
liability for such failure shall be limited to the liability (if any) imposed on
it as a matter of law under the UCC.

     Section 21. LIMITATION ON DUTY IN RESPECT OF COLLATERAL. Beyond the
exercise of reasonable care in the custody and preservation thereof, the
Collateral Agent will have no duty as to any Collateral in its possession or
control or in the possession or control of any sub-agent or bailee or any income
therefrom or as to the preservation of rights against prior parties or any other
rights pertaining thereto. The Collateral Agent will be deemed to have exercised
reasonable care in the custody and preservation of the Collateral in its
possession or control if such Collateral is accorded treatment substantially
equal to that which it accords its own property, and will not be liable or
responsible for any loss or damage to any Collateral, or for any diminution in
the value thereof, by reason of any act or omission of any sub-agent or bailee
selected by the Collateral Agent in good faith, except to the extent that such
liability arises from the Collateral Agent's gross negligence or willful
misconduct.

     Section 22. GENERAL PROVISIONS CONCERNING THE COLLATERAL AGENT. (a)
AUTHORITY. The Collateral Agent is authorized to take such actions and to
exercise such powers as are delegated to the Collateral Agent by the terms of
the Security Documents, together with such actions and powers as are reasonably
incidental thereto.

     (b)  RIGHTS AND POWERS AS A SECURED PARTY. The bank serving as the
Collateral Agent shall, in its capacity as a Secured Party, have the same rights
and powers as any other Secured Party and may exercise the same as though it
were not the Collateral Agent. Such bank and its Affiliates may accept deposits
from, lend money to and generally engage in any kind of business with the
Company or any Subsidiary or Affiliate thereof as if it were not the Collateral
Agent hereunder.

     (c)  LIMITED DUTIES AND RESPONSIBILITIES. The Collateral Agent shall not
have any duties or obligations under the Security Documents except those

                                       41
<Page>

expressly set forth therein. Without limiting the generality of the foregoing,
(i) the Collateral Agent shall not be subject to any fiduciary or other implied
duties, regardless of whether an Event of Default has occurred and is
continuing, (ii) the Collateral Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Security Documents that the
Collateral Agent is required in writing to exercise by the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 12.02 of the Credit Agreement) and (iii)
except as expressly set forth in the Loan Documents, the Collateral Agent shall
not have any duty to disclose, and shall not be liable for any failure to
disclose, any information relating to the Company or any Subsidiary that is
communicated to or obtained by the bank serving as Collateral Agent or any of
its Affiliates in any capacity. The Collateral Agent shall not be liable for any
action taken or not taken by it with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 12.02 of the Credit
Agreement) or in the absence of its own gross negligence or wilful misconduct.
The Collateral Agent shall not be responsible for the existence, genuineness or
value of any Collateral or for the validity, perfection, priority or
enforceability of any Transaction Lien, whether impaired by operation of law or
by reason of any action or omission to act on its part under the Security
Documents. The Collateral Agent shall be deemed not to have knowledge of any
Event of Default unless and until written notice thereof is given to the
Collateral Agent by the Company or a Secured Party, and the Collateral Agent
shall not be responsible for or have any duty to ascertain or inquire into (A)
any statement, warranty or representation made in or in connection with any
Security Document, (B) the contents of any certificate, report or other document
delivered thereunder or in connection therewith, (C) the performance or
observance of any of the covenants, agreements or other terms or conditions set
forth in any Security Document, (D) the validity, enforceability, effectiveness
or genuineness of any Security Document or any other agreement, instrument or
document or (E) the satisfaction of any condition set forth in any Security
Document.

       (d) AUTHORITY TO RELY ON CERTAIN WRITINGS, STATEMENTS AND ADVICE. The
Collateral Agent shall be entitled to rely on, and shall not incur any liability
for relying on, any notice, request, certificate, consent, statement,
instrument, document or other writing believed by it to be genuine and to have
been signed or sent by the proper Person. The Collateral Agent also may rely on
any statement made to it orally or by telephone and believed by it to be made by
the proper Person, and shall not incur any liability for relying thereon. The
Collateral Agent may consult with legal counsel (who may be counsel for the
Company), independent accountants and other experts selected by it, and shall
not be liable

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<Page>

for any action taken or not taken by it in accordance with the advice of any
such counsel, accountant or expert.

     (e)  SUB-AGENTS AND RELATED PARTIES. The Collateral Agent may perform any
of its duties and exercise any of its rights and powers through one or more
sub-agents appointed by it. The Collateral Agent and any such sub-agent may
perform any of its duties and exercise any of its rights and powers through its
Related Parties. The exculpatory provisions of Section 21 and this Section shall
apply to any such sub-agent and to the Related Parties of the Collateral Agent
and any such sub-agent.

     (f)  INFORMATION AS TO SECURED OBLIGATIONS AND ACTIONS BY SECURED PARTIES.
For all purposes of the Security Documents, including determining the amounts of
the Secured Obligations and whether a Secured Obligation is a Contingent Secured
Obligation or not, or whether any action has been taken under any Secured
Agreement, the Collateral Agent will be entitled to rely on information from (i)
its own records for information as to the Secured Parties, their Secured
Obligations and actions taken by them, (ii) any Secured Party for information as
to its Secured Obligations and actions taken by it, to the extent that the
Collateral Agent has not obtained such information from the foregoing sources,
and (iii) the Company, to the extent that the Collateral Agent has not obtained
information from the foregoing sources.

     (g)  Within two Business Days after it receives or sends any notice
referred to in this subsection, the Collateral Agent shall send to the Lenders
and each Secured Party Requesting Notice, copies of any certificate designating
additional obligations as Secured Obligations received by the Collateral Agent
pursuant to Section 25 and any notice given by the Collateral Agent to any Lien
Grantor, or received by it from any Lien Grantor, pursuant to Section 17, 18,
20, 22(i) or 23.

     (h)  The Collateral Agent may refuse to act on any notice, consent,
direction or instruction from any Secured Parties or any agent, trustee or
similar representative thereof that, in the Collateral Agent's opinion, (i) is
contrary to law or the provisions of any Security Document, (ii) may expose the
Collateral Agent to liability (unless the Collateral Agent shall have been
indemnified, to its reasonable satisfaction, for such liability by the Secured
Parties that gave such notice, consent, direction or instruction) or (iii) is
unduly prejudicial to Secured Parties not joining in such notice, consent,
direction or instruction.

     (i)  RESIGNATION; SUCCESSOR COLLATERAL AGENT. Subject to the appointment
and acceptance of a successor Collateral Agent as provided in this subsection,
the Collateral Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Company. Upon any such resignation, the Required

                                       43
<Page>

Lenders shall have the right, in consultation with the Company, to appoint a
successor Collateral Agent. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after
the retiring Collateral Agent gives notice of its resignation, then the retiring
Collateral Agent may, on behalf of the Secured Parties, appoint a successor
Collateral Agent which shall be a bank with an office in New York, New York, or
an Affiliate of any such bank. Upon acceptance of its appointment as Collateral
Agent hereunder by a successor, such successor shall succeed to and become
vested with all the rights, powers, privileges and duties of the retiring
Collateral Agent hereunder, and the retiring Collateral Agent shall be
discharged from its duties and obligations hereunder. The fees payable by the
Company to a successor Collateral Agent shall be the same as those payable to
its predecessor unless otherwise agreed by the Company and such successor. After
the Collateral Agent's resignation hereunder, the provisions of this Section and
Section 21 shall continue in effect for the benefit of such retiring Collateral
Agent, its sub-agents and their respective Related Parties in respect of any
actions taken or omitted to be taken by any of them while the retiring
Collateral Agent was acting as Collateral Agent.

     Section 23. TERMINATION OF TRANSACTION LIENS; RELEASE OF COLLATERAL. (a)
The Transaction Liens granted by each Subsidiary Guarantor shall terminate when
its Secured Guarantee is released pursuant to Section 2(c).

     (b)  The Transaction Liens granted by the Company shall terminate on the
first date on which all the Release Conditions are satisfied.

     (c)  The Transaction Liens granted by the relevant Lien Grantor (x) with
respect to any Pledged Accounts shall automatically terminate when such Accounts
have become Transferred Accounts and (y) with respect to any other Collateral
shall automatically terminate upon the sale of such Collateral to a Person other
than the Company or a Subsidiary Guarantor in a transaction not prohibited by
the Credit Agreement. In each case, such termination shall not require the
consent of any Secured Party, and the Collateral Agent and any third party shall
be fully protected in relying on a certificate of any Lien Grantor as to whether
any Pledged Accounts qualify as Transferred Accounts (including without
limitation whether the transfer thereof is permitted under the Credit Agreement
and this Agreement) and as to whether any sale of Collateral is not prohibited
by the Credit Agreement.

     (d)  At any time before the Transaction Liens granted by the Company
terminate, the Collateral Agent may, at the written request of the Company, (i)
release any Collateral (but not any substantial portion of the Collateral) with
the prior written consent of the Required Lenders or (ii) release any
substantial portion of the Collateral with the prior written consent of all
Lenders.

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<Page>

     (e)  Upon any termination of a Transaction Lien or release of Collateral,
the Collateral Agent will, at the expense of the relevant Lien Grantor, execute
and deliver to such Lien Grantor such documents as such Lien Grantor shall
reasonably request to evidence the termination of such Transaction Lien or the
release of such Collateral, as the case may be, and return to the Company any
such Collateral held by the Collateral Agent including if necessary to effect
any sale or release of the Transaction Liens the delivery of any security
certificates or instruments held by the Collateral Agent and any related stock
or note powers or other instruments of transfer.

     Section 24. ADDITIONAL SUBSIDIARY GUARANTORS AND LIEN GRANTORS. Any
Subsidiary may become a party hereto by signing and delivering to the Collateral
Agent a Security Agreement Supplement, whereupon such Subsidiary shall become a
"Subsidiary Guarantor" and a "Lien Grantor" as defined herein.

     Section 25. ADDITIONAL SECURED OBLIGATIONS. The Company may from time to
time designate its obligations under any Rate Protection Agreement as an
additional Secured Obligation for purposes hereof by delivering to the
Collateral Agent a certificate signed by a Financial Officer of the Company that
(i) identifies such Rate Protection Agreement, specifying the name and address
of the other party thereto, the notional principal amount thereof and the
expiration date thereof and (ii) states that the Company's obligations
thereunder are designated as Secured Obligations for purposes hereof.

     Section 26. SECURITIZATION COLLATERAL. Notwithstanding anything contained
herein to the contrary, the Collateral Agent hereby agrees as follows:

     (a)    (i)  Until the date on which amounts owed under the Securitization
Documents have been paid in full in cash in accordance with the terms thereof
and the Securitization Documents have terminated in accordance with their terms,
the Collateral Agent agrees that, upon exercising its rights with respect to the
Securitization Collateral, it will not take any action adverse to the interests
of the Purchasers or the Receivables Agent, including, without limitation, (A)
causing the Receivables Seller or the Transferring Subsidiary to violate or
breach any term or provision in any Securitization Document, (B) making any
dividends or distributions on such Securitization Collateral, (C) amending or
altering any of the Receivables Seller's or Transferring Subsidiary's
organizational documents or (D) causing the Receivables Seller to incur any
debt, other than in each case, as may be allowed in the Securitization
Documents; provided that any prepayment or termination of the RPA in accordance
with the terms of the Securitization Documents shall not be deemed adverse to
the interests of the Purchasers or the Receivables Agent;

                                       45
<Page>

           (ii)  In the event that the Collateral Agent receives any payments or
     funds relating to the Receivables Assets (other than proceeds of
     Receivables Assets which are permitted to be paid to the Company or
     Transferring Subsidiary in accordance with the terms of the Securitization
     Documents) prior to the date on which all amounts owed under the
     Securitization Documents have been paid in full in cash in accordance with
     the terms thereof and the Securitization Documents have terminated in
     accordance with their terms, the Collateral Agent shall hold such payments
     or funds in trust for the benefit of the Receivables Agent, and shall
     promptly transfer such payments or funds to the Receivables Agent;

          (iii)  The provisions of this Section 26 shall continue to be
     effective or be reinstated, as the case may be, if at any time any payment
     of the amounts owed under the Securitization Documents is rescinded or must
     otherwise be returned by the Receivables Agent or the Purchasers upon the
     insolvency, bankruptcy or reorganization of the Receivables Seller, the
     Company, the Transferring Subsidiary or otherwise, all as though such
     payment had not been made; and

           (iv)  Prior to the date on which all amounts owed under the
     Securitization Documents have been paid in full in cash in accordance with
     the terms thereof and the Securitization Documents have terminated in
     accordance with their terms, the Collateral Agent shall not object to or
     contest in any administrative, legal or equitable action or proceeding
     (including, without limitation, any insolvency, bankruptcy, receivership,
     liquidation, reorganization, winding up, readjustment, composition or other
     similar proceeding relating to the Company or the Receivables Seller or
     their respective property) or object to or contest in any other manner (A)
     the interests of the Receivable Seller and its successors and assigns in
     any of the Receivable Assets transferred by the Company or its affiliates
     to the Receivables Seller pursuant to the Securitization Documents or (B)
     the interests of the Receivables Agent or the Purchasers in the Receivable
     Assets. The Collateral Agent shall not object to or contest in any manner
     the receipt of any payment by the Receivables Agent or the Purchasers with
     respect to the Receivables Assets for the satisfaction of the Purchaser
     Interests.

     (b)  The Receivables Agent shall be a third-party beneficiary with respect
to this Section 26.

     (c)  So long as all amounts under the Securitization Documents have not
been paid in full in cash in accordance with the terms thereof and the
Securitization Documents have not terminated in accordance with their terms,
this Section 26 shall not be amended, modified or supplemented without the prior

                                       46
<Page>

written consent of the Receivables Agent, which consent shall be at the sole
discretion of the Receivables Agent, and the provisions of this Section 26 shall
be contained in any agreement that amends and restates this Agreement. The
Collateral Agent agrees that it shall not enter into any additional agreement
that would adversely affect the rights of the Receivables Agent as provided
hereunder.

     Section 27. NOTICES. Each notice, request or other communication given to
any party hereunder shall be in writing (which term includes facsimile or other
electronic transmission) and shall be effective (i) when delivered to such party
at its address specified below, (ii) when sent to such party by facsimile or
other electronic transmission, addressed to it at its facsimile number or
electronic address specified below, and such party sends back an electronic
confirmation of receipt or (iii) ten days after being sent to such party by
certified or registered United States mail, addressed to it at its address
specified below, with first class or airmail postage prepaid:

          (a)    in the case of any Lien Grantor listed on the signature pages
     hereof:

                 c/o Cummins Inc.
                 500 Jackson Street
                 Box 3005
                 Columbus, Indiana
                 Attention:  Vice President - Treasurer
                 Facsimile:  812 377-3347

          (b)    in the case of any other Lien Grantor, its address, facsimile
     number or e-mail address set forth in its first Security Agreement
     Supplement;

          (c)    in the case of the Collateral Agent:

                 JPMorgan Chase Bank
                 270 Park Avenue
                 New York, NY 10017
                 Attention: Fran Giacalone
                 Facsimile: 212 552-5650

          (d)    in the case of any Secured Party or Agent, to the Collateral
     Agent to be forwarded to such Secured Party or Agent at its address or
     facsimile number specified in or pursuant to Section 12.01 of the Credit
     Agreement; or

                                       47
<Page>

          (e)    in the case of any Secured Party Requesting Notice, such
     address, facsimile number or e-mail address as such party may hereafter
     specify for the purpose by notice to the Collateral Agent.

Any party may change its address, facsimile number and/or e-mail address for
purposes of this Section by giving notice of such change to the Collateral Agent
and the Lien Grantors in the manner specified above.

     Section 28. NO IMPLIED WAIVERS; REMEDIES NOT EXCLUSIVE. No failure by the
Collateral Agent or any Secured Party to exercise, and no delay in exercising
and no course of dealing with respect to, any right or remedy under any Security
Document shall operate as a waiver thereof; nor shall any single or partial
exercise by the Collateral Agent or any Secured Party of any right or remedy
under any Loan Document preclude any other or further exercise thereof or the
exercise of any other right or remedy. The rights and remedies specified in the
Loan Documents are cumulative and are not exclusive of any other rights or
remedies provided by law.

     Section 29. SUCCESSORS AND ASSIGNS. This Agreement is for the benefit of
the Collateral Agent and the Secured Parties. If all or any part of any Secured
Party's interest in any Secured Obligation is assigned or otherwise transferred,
the transferor's rights hereunder, to the extent applicable to the obligation so
transferred, shall be automatically transferred with such obligation. This
Agreement shall be binding on the Lien Grantors and their respective successors
and assigns.

     Section 30. AMENDMENTS AND WAIVERS. Neither this Agreement nor any
provision hereof may be waived, amended, modified or terminated except pursuant
to an agreement or agreements in writing entered into by the parties hereto,
with the consent of such Lenders as are required to consent thereto under
Section 12.02 of the Credit Agreement. No such waiver, amendment or modification
shall affect the rights of a Secured Party (other than a Lender) hereunder more
adversely than it affects the comparable rights of the Lenders hereunder,
without the consent of such Secured Party.

     Section 31. GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS. (a)
This Agreement shall be construed in accordance with and governed by the law of
the State of New York.

     (a)  Each Lien Grantor hereby irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of the Supreme Court
of the State of New York sitting in New York County and of the United States
District Court of the Southern District of New York, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to any
Loan

                                       48
<Page>

Document, or for recognition or enforcement of any judgment arising out of or
relating to any Loan Document, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that
a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in any Loan Document shall affect any right that the
Collateral Agent or any other Secured Party or Agent may otherwise have to bring
any action or proceeding relating to any Loan Document against any Lien Grantor
or its properties in the courts of any jurisdiction.

     (b)  Each Lien Grantor hereby irrevocably and unconditionally waives, to
the fullest extent it may legally and effectively do so, any objection which it
may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to any Loan Document in any court referred
to in paragraph (a) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such
court.

     (c)  Each party to this Agreement irrevocably consents to service of
process in the manner provided for notices in Section 27. Nothing in any Loan
Document will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

     Section 32. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     Section 33. JUDGMENT CURRENCY. If, under any applicable law and whether
pursuant to a judgment being made or registered against any Lien Grantor or for
any other reason, any payment under or in connection with any Loan Document is
made or satisfied in a currency (the "OTHER CURRENCY") other

                                       49
<Page>

than that in which the relevant payment is due (the "REQUIRED CURRENCY") then,
to the extent that the payment (when converted into the Required Currency at the
rate of exchange on the date of payment or, if it is not practicable for the
party entitled thereto (the "PAYEE") to purchase the Required Currency with the
Other Currency on the date of payment, at the rate of exchange as soon
thereafter as it is practicable for it to do so) actually received by the Payee
falls short of the amount due under the terms of any Loan Document, such Lien
Grantor shall, to the extent permitted by law, as a separate and independent
obligation, indemnify and hold harmless the Payee against the amount of such
short-fall. For the purpose of this Section, "rate of exchange" means the rate
at which the Payee is able on the relevant date to purchase the Required
Currency with the Other Currency and shall take into account any premium and
other costs of exchange.

                                       50
<Page>

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

                                  CUMMINS INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                              SUBSIDIARY GUARANTORS:

                                  FLEETGUARD, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                                  ONAN CORPORATION

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                                  UNIVERSAL SILENCER, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                                  CUMMINS ENGINE IP, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

<Page>

                                  CUMMINS FILTRATION IP, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                                  CUMMINS POWERGEN IP, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

                                  CUMMINS INTELLECTUAL
                                    PROPERTY, INC.

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

<Page>

                                  JPMORGAN CHASE BANK, as Collateral
                                    Agent

                                  By:
                                        ------------------------------------
                                        Name:
                                        Title:

<Page>

                                                                      SCHEDULE 1

                    EQUITY INTERESTS IN MATERIAL SUBSIDIARIES
                             WHICH ARE UNRESTRICTED
                           SUBSIDIARIES AND AFFILIATES
                         OWNED BY ORIGINAL LIEN GRANTORS
                           (AS OF THE EFFECTIVE DATE)

<Table>
<Caption>
                              JURISDICTION                                  NUMBER OF
                                   OF           OWNER OF       PERCENTAGE   SHARES OR
           ISSUER             ORGANIZATION   EQUITY INTEREST      OWNED       UNITS
---------------------------   ------------   ---------------   ----------   ---------
<S>                           <C>            <C>               <C>          <C>
Universal Silencer, Inc.      Indiana        Cummins Inc.      100%
Cummins Engine (China)        China          Cummins Inc.      100%
Investment Co. Ltd.
Cummins Engine Company Pty.   Australia      Cummins Inc.      100%
Limited
Cummins Receivables Corp.     Delaware       Cummins Inc.      100%
</Table>

                                      S-1-1
<Page>

                                                                      SCHEDULE 2

                               INVESTMENT PROPERTY
                  (OTHER THAN EQUITY INTERESTS IN SUBSIDIARIES)
                         OWNED BY ORIGINAL LIEN GRANTORS
                           (AS OF THE EFFECTIVE DATE)

                              PART 1 -- SECURITIES

<Table>
<Caption>
                                             JURISDICTION
                                                   OF                                     AMOUNT         TYPE OF
           ISSUER                             ORGANIZATION          OWNER OF SECURITIES   OWNED         SECURITY
----------------------------           --------------------------   -------------------   ------   ---------------------
<S>                                    <C>                          <C>                   <C>      <C>
Consolidated Diesel, Inc.              Delaware Corporation                                 50%    Common Stock
Consolidated Diesel Company            North Carolina Partnership                           50%    Partnership Interest
Cummins Komatsu Engine Company         Indiana Partnership                                  50%    Partnership Interest
Cummins Mercury Marine Diesel, LLC     Delaware LLC                                         50%    Equity Interest
Emerachem LLC                          Delaware LLC                                         15%    Equity Interest
Enceratec, Inc.                        Maryland Corporation                                 50%    Common Stock
Innovative Computing Corp.             Oklahoma Corporation                                 19%    Preferred Stock
Pacific World Trade, Inc.              Indiana  Corporation                                 43%    Common Stock
PBB Transit Corp.                      Delaware Corporation                                 19%    Preferred Stock
Wabco Compressor                       Delaware                                             30%    Common Stock
Manufacturing, Inc.                    Corporation
INTERNATIONAL INVESTMENTS
CD Power Rent, S. de R.L. de C.V.      Mexico                                               50%    Equity Interest
C.G. Newage electrical Ltd.            India                                                50%    Equity Interest
Chongqing Cummins Engine               China                                                50%    Equity Interest
Co., Ltd.
</Table>

                                      S-2-1
<Page>

<Table>
<S>                                    <C>                          <C>                   <C>      <C>
Dongfeng Cummins Engine Co. Ltd.       China                                                50%    Equity Interest
European Engine Alliance SRL           Italy                                              33.3%    Equity Interest
Fleetguard Filtration                  India                                                37%    Equity Interest
Systems India Pte. Ltd.
Industrial Power Alliance, Ltd.        Japan                                                50%    Equity Interest
KamDizel J.E.                          Russia                                               50%    Equity Interest
Komatsu Cummins Chile, Ltda.           Chile                                                20%    Equity Interest
Komatsu Cummins Engine Co. Ltd.        Japan                                                50%    Equity Interest
Markon Sawafuji Ltd.                   U.K.                                                 40%    Equity Interest
NAP Holdings, Ltd.                     Singapore                                          18.8%    Equity Interest
Powertrain Industria e Comercio Ltda.  Brazil                                               50%    Equity Interest
Shanghai Fleetguard Filter Co., Ltd.   China                                                50%    Equity Interest
Tata Cummins Ltd.                      India                                                50%    Equity Interest
Tata Holset Private Ltd.               India                                                50%    Equity Interest
VC Lubricating Oil Co. Ltd.            China                                                50%    Equity Interest
</Table>

                          PART 2 -- SECURITIES ACCOUNTS

The Original Lien Grantors own Security Entitlements with respect to Financial
Assets credited to the following Securities Accounts:

<Table>
<Caption>
                      SECURITIES
    OWNER            INTERMEDIARY      ACCOUNT NUMBER
--------------      --------------    ----------------
<S>                 <C>               <C>
None
</Table>

                                      S-2-2
<Page>

                                      S-2-3
<Page>

                          PART 3 -- COMMODITY ACCOUNTS

The Original Lien Grantors are Commodity Customers with respect to the following
Commodity Accounts:

<Table>
<Caption>
                      COMMODITY
    OWNER            INTERMEDIARY      ACCOUNT NUMBER
--------------      --------------    ----------------
<S>                 <C>               <C>
None
</Table>

                                      S-2-4
<Page>

                                                                      SCHEDULE 3

                              INTELLECTUAL PROPERTY

                             CUMMINS ENGINE IP INC.

                          U.S. TRADEMARK REGISTRATIONS

<Table>
<Caption>
TRADEMARK                                    REG. NO.        REG. DATE
--------------------------------------   ---------------   -------------
<S>                                      <C>                 <C>
POWERING PEOPLE                          S/N 75878264
SMARTPOWER                                    2484469
1-800-DIESELS                                 2576927
CEALASTIC                                     2052227
SMARTPOWER                                    2048808
TRITECH                                       1963278
CENTRY                                        1907115
PREMIUM BLUE                                  1543190
NOW                                           1514858
GEN-PAC                                       1353721
BIG CAM                                       1377888
BIG CAM                                       1378014
UPRATE                                        1340575
UPRATE                                        1353715
UP RATE                                       1309696
UP RATE                                       1349171
C CUMMINS                                     1124765
C CUMMINS                                     1090272
VMS                                           1093447
RECON                                          800956
PT                                             626901
PT                                             615491
CUMMINS                                        579346
</Table>

                           CUMMINS FILTRATION IP INC.

                          U.S. TRADEMARK REGISTRATIONS

<Table>
<Caption>
TRADEMARK                                    REG. NO.        REG. DATE
--------------------------------------   ---------------   -------------
<S>                                           <C>            <C>
CP                                             779454
NELSON LOGO                                   1139392
NELSON LOGO                                   1715271
ACOUSTI TUBE                                  2237580
</Table>

                                      S-3-1
<Page>

<Table>
<S>                                      <C>
ACCOUSTI RING                                 2259861
WINSLOW (Stylized W)                           949798
WINSLOW (Word)                                 588694
ECO-CLEAN                                     2041808
ECO CLEAN LOGO                                2152096
WE'RE LEADING A QUIET REVOLUTION              1900351
FLEETGUARD                                    0786012
ST LOGO                                  S/N 78179162
SEPARATION TECHNOLOGIES                       2100565
</Table>

                            CUMMINS POWERGEN IP, INC.

                          U.S. TRADEMARK REGISTRATIONS

<Table>
<Caption>
TRADEMARK                                    REG. NO.        REG. DATE
--------------------------------------   ---------------   -------------
<S>                                           <C>            <C>
POWERSENTRY                                   2245620
GENVERTER                                     2173492
ROADIES                                       1924280
POWERCOMMAND                                  1973250
EMERALD                                       1984390
QUIET SITE                                    1723287
ONAN                                          1091393
ONAN                                          1087197
AQUALIFT                                      1177857
ONAN                                          1175828
HYDRA-GEN                                     0977183
IDLE-MATIC                                    0749343
READI-PULL                                    0698522
ONAN                                          0649254
VACU-FLO                                      0665953
</Table>

                                      S-2-2
<Page>

                                                                       EXHIBIT A
                                                           TO SECURITY AGREEMENT

                          SECURITY AGREEMENT SUPPLEMENT

     SECURITY AGREEMENT SUPPLEMENT dated as of _______, ____, between [NAME OF
LIEN GRANTOR] (the "LIEN GRANTOR") and JPMorgan Chase Bank, as Collateral Agent.

     WHEREAS, Cummins Inc., the Subsidiary Guarantors party thereto and JPMorgan
Chase Bank, as Collateral Agent, are parties to a Guarantee and Security
Agreement dated as of November 5, 2002 (as heretofore amended and/or
supplemented, the "SECURITY AGREEMENT") under which Cummins Inc. secures certain
of its obligations (the "SECURED OBLIGATIONS") and the Subsidiary Guarantors
guarantee the Secured Obligations and secure their respective guarantees
thereof;

     WHEREAS, [name of Lien Grantor] desires to become [is] a party to the
Security Agreement as a Guarantor and Lien Grantor thereunder;(1) and

     WHEREAS, terms defined in the Security Agreement (or whose definitions are
incorporated by reference in Section 1 of the Security Agreement) and not
otherwise defined herein have, as used herein, the respective meanings provided
for therein;

     NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1.   SECURED GUARANTEE.(2) The Lien Grantor unconditionally guarantees the
full and punctual payment of each Secured Obligation when due (whether at stated
maturity, upon acceleration or otherwise). The Lien Grantor acknowledges that,
by signing this Security Agreement Supplement and delivering it to the
Collateral Agent, the Lien Grantor becomes a "Subsidiary Guarantor" and "Lien
Grantor" for all purposes of the Security Agreement and that its obligations
under the foregoing Secured Guarantee are subject to all the provisions of the
Security Agreement (including those set forth in Section 2 thereof) applicable
to the obligations of a Guarantor thereunder.

----------
     (1)  If the Lien Grantor is the Company, delete this recital and Section 1
hereof.

     (2)  Delete this Section if the Lien Grantor is the Company or a Subsidiary
Guarantor that is already a party to the Security Agreement.

                                       A-1
<Page>

     2.   GRANT OF TRANSACTION LIENS. (a) In order to secure [its Secured
Guarantee](3) [the Secured Obligations](4), the Lien Grantor grants to the
Collateral Agent for the benefit of the Secured Parties a continuing security
interest in all the following property of the Lien Grantor, whether now owned or
existing or hereafter acquired or arising and regardless of where located (the
"NEW COLLATERAL"):

     [describe property being added to the Collateral](5)

            (b)     With respect to each right to payment or performance
     included in the Collateral from time to time, the Transaction Lien granted
     therein includes a continuing security interest in (i) any Supporting
     Obligation that supports such payment or performance and (ii) any Lien that
     (x) secures such right to payment or performance or (y) secures any such
     Supporting Obligation.

            (c)     The foregoing Transaction Liens are granted as security only
     and shall not subject the Collateral Agent or any other Secured Party to,
     or transfer or in any way affect or modify, any obligation or liability of
     the Lien Grantor with respect to any of the New Collateral or any
     transaction in connection therewith.

     3.   DELIVERY OF COLLATERAL. Concurrently with delivering this Security
Agreement Supplement to the Collateral Agent, the Lien Grantor is complying with
the provisions of Section 7 of the Security Agreement with respect to
Instruments and either Section 9 or Section 14(a) (whichever is applicable) of
the Security Agreement with respect to Investment Property, in each case if and
to the extent included in the New Collateral at such time.

     4.   PARTY TO SECURITY AGREEMENT. Upon delivering this Security Agreement
Supplement to the Collateral Agent, the Lien Grantor will become a party to the
Security Agreement and will thereafter have all the rights and obligations of a
Subsidiary Guarantor and a Lien Grantor thereunder and be

----------
     (3)  Delete bracketed words if the Lien Grantor is the Company.

     (4)  Delete bracketed words if the Lien Grantor is a Guarantor.

     (5)  If the Lien Grantor is not already a party to the Security Agreement,
clauses (i) through (xi) of, and the proviso to, Section 3(a) of the Security
Agreement may be appropriate.

                                       A-2
<Page>

bound by all the provisions thereof as fully as if the Lien Grantor were one of
the original parties thereto.(6)

     5.   ADDRESS OF LIEN GRANTOR. The address, facsimile number and e-mail
address of the Lien Grantor for purposes of Section 27(b) of the Security
Agreement are:

     [address, facsimile number and e-mail address of Lien Grantor]

     6.   REPRESENTATIONS AND WARRANTIES.(7) (a) The Lien Grantor is a
corporation duly organized, validly existing and in good standing under the laws
of [jurisdiction of organization].

            (b)     The Lien Grantor has delivered a Perfection Certificate to
     the Collateral Agent. The information set forth therein is correct and
     complete as of the date hereof.

            (c)     The execution and delivery of this Security Agreement
     Supplement by the Lien Grantor and the performance by it of its obligations
     under the Security Agreement as supplemented hereby are within its
     corporate or other powers, have been duly authorized by all necessary
     corporate or other action, require no action by or in respect of, or filing
     with, any governmental body, agency or official and do not contravene, or
     constitute a default under, any provision of applicable law or regulation
     or of its organizational documents, or of any agreement, judgment,
     injunction, order, decree or other instrument binding upon it or result in
     the creation or imposition of any Lien (except a Transaction Lien or a
     Permitted Lien) on any of its assets other than (i) the filing of UCC
     financing statements, (ii) Intellectual Property Filings or (iii) actions
     required under applicable foreign law with respect to Intellectual
     Property.

            (d)     The Security Agreement as supplemented hereby constitutes a
     valid and binding agreement of the Lien Grantor, enforceable in accordance
     with its terms, except as limited by (i) applicable bankruptcy, insolvency,
     fraudulent conveyance or other similar laws affecting creditors' rights
     generally and (ii) general principles of equity.

            (e)     Each of the representations and warranties set forth in
     Sections 4 through 14 of the Security Agreement is true as applied to the

----------
     (6)  Delete Sections 4 and 5 if the Lien Grantor is already a party to the
Security Agreement.

     (7)  Modify as needed if the Lien Grantor is not a corporation.

                                       A-3
<Page>

     Lien Grantor and the New Collateral. For purposes of the foregoing
     sentence, references in said Sections to a "Lien Grantor" shall be deemed
     to refer to the Lien Grantor, references to Schedules to the Security
     Agreement shall be deemed to refer to the corresponding Schedules to this
     Security Agreement Supplement, references to "Collateral" shall be deemed
     to refer to the New Collateral, and references to the "Effective Date"
     shall be deemed to refer to the date on which the Lien Grantor signs and
     delivers this Security Agreement Supplement.

     7.   [COMPLIANCE WITH FOREIGN LAW. The Lien Grantor represents that it has
taken, and agrees that it will continue to take, all actions required under the
laws (including the conflict of laws rules) of its jurisdiction of organization
to ensure that the Transaction Liens on the New Collateral rank prior to all
Liens and rights of others therein other than Permitted Liens.(8)]

     8.   GOVERNING LAW. This Security Agreement Supplement shall be construed
in accordance with and governed by the laws of the State of New York.

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

                                     [NAME OF LIEN GRANTOR]

                                     By:
                                          ---------------------------------
                                          Name:
                                          Title:

                                     JPMORGAN CHASE BANK, as Collateral
                                       Agent

                                     By:
                                          ---------------------------------
                                          Name:
                                          Title:
----------
     (8)  Include Section 7 if the Lien Grantor is organized under the laws of a
jurisdiction outside the United States.

                                       A-4
<Page>

                                                                      SCHEDULE 1
                                                           TO SECURITY AGREEMENT
                                                                      SUPPLEMENT

                               EQUITY INTERESTS IN
                         MATERIAL SUBSIDIARIES WHICH ARE
                            UNRESTRICTED SUBSIDIARIES
                              OWNED BY LIEN GRANTOR

<Table>
<Caption>
                           JURISDICTION
                                OF            PERCENTAGE          NUMBER OF
         ISSUER            ORGANIZATION         OWNED          SHARES OR UNITS
----------------------   ----------------   --------------   -------------------
<S>                      <C>                <C>              <C>
</Table>

                                       A-5
<Page>

                                                                      SCHEDULE 2
                                                           TO SECURITY AGREEMENT
                                                                      SUPPLEMENT

                               INVESTMENT PROPERTY
                  (OTHER THAN EQUITY INTERESTS IN SUBSIDIARIES)
                              OWNED BY LIEN GRANTOR

                              PART 1 -- SECURITIES

<Table>
<Caption>
                           JURISDICTION
                                OF             AMOUNT             TYPE OF
         ISSUER            ORGANIZATION         OWNED             SECURITY
----------------------   ----------------   --------------   -------------------
<S>                      <C>                <C>              <C>
</Table>

                          PART 2 -- SECURITIES ACCOUNTS

The Lien Grantor owns Security Entitlements with respect to Financial Assets
credited to the following Securities Accounts:(9)

<Table>
<Caption>
       SECURITIES INTERMEDIARY              ACCOUNT NUMBER
-------------------------------          --------------------
<S>                                      <C>
</Table>

----------
     (9)  If any such Securities Account holds material long-term investments
and is not a trading account, more detailed information as to such investments
could appropriately be required to be disclosed in this Schedule.

                                       A-6
<Page>

                          PART 3 -- COMMODITY ACCOUNTS

The Lien Grantor is the Commodity Customer with respect to the following
Commodity Accounts:

<Table>
<Caption>
     COMMODITY INTERMEDIARY                 ACCOUNT NUMBER
-------------------------------          --------------------
<S>                                      <C>
</Table>

                                       A-7
<Page>

                                                                      SCHEDULE 2
                                                           TO SECURITY AGREEMENT
                                                                      SUPPLEMENT

                              INTELLECTUAL PROPERTY

                                       A-8
<Page>

                                                                       EXHIBIT B
                                                           TO SECURITY AGREEMENT

                          COPYRIGHT SECURITY AGREEMENT

                 (COPYRIGHTS, COPYRIGHT REGISTRATIONS, COPYRIGHT
                      APPLICATIONS AND COPYRIGHT LICENSES)

     WHEREAS, [name of Lien Grantor], a _____________ corporation(1) (herein
referred to as the "LIEN GRANTOR") owns, or in the case of licenses is a party
to, the Copyright Collateral (as defined below);

     WHEREAS, Cummins Inc. (the "COMPANY"), certain other Borrowers party
thereto (together with the Company, the "BORROWERS"), the Lenders party thereto,
and JPMorgan Chase Bank, as Administrative Agent, Collateral Agent, Issuing Bank
and Swingline Lender, are parties to a Credit Agreement dated as of November 5,
2002 (as amended from time to time, the "CREDIT AGREEMENT"); and

     WHEREAS, pursuant to (i) a Guarantee and Security Agreement dated as of
November 5, 2002 (as amended and/or supplemented from time to time, the
"SECURITY AGREEMENT") among the Company, the Subsidiary Guarantors party thereto
and JPMorgan Chase Bank, as Collateral Agent for the Secured Parties referred to
therein (in such capacity, together with its successors in such capacity, the
"GRANTEE"), and (ii) certain other Security Documents (including this Copyright
Security Agreement), the Lien Grantor has [secured certain of its obligations
(the "SECURED OBLIGATIONS")](2) [guaranteed certain obligations of the Borrowers
and secured such guarantee (the "LIEN GRANTOR'S SECURED GUARANTEE")](3) by
granting to the Grantee for the benefit of such Secured Parties a continuing
security interest in personal property of the Lien Grantor, including all right,
title and interest of the Lien Grantor in, to and under the Copyright Collateral
(as defined below);

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Lien Grantor grants to the
Grantee, to secure the [Secured Obligations] [Lien Grantor's Secured Guarantee],
a continuing security interest in all of the Lien Grantor's right, title and
interest in, to and under the following (all of the following items or types of
property being

----------
     (1)  Modify as needed if the Lien Grantor is not a corporation.

     (2)  Delete these bracketed words if the Lien Grantor is a Subsidiary
Guarantor.

     (3)  Delete these bracketed words if the Lien Grantor is the Company.

                                       B-1
<Page>

herein collectively referred to as the "COPYRIGHT COLLATERAL"), whether now
owned or existing or hereafter acquired or arising:

            (i)     each Copyright (as defined in the Security Agreement) owned
     by the Lien Grantor, including, without limitation, each Copyright
     registration or application therefor referred to in Schedule 1 hereto;

           (ii)     each Copyright License (as defined in the Security
     Agreement) to which the Lien Grantor is a party, including, without
     limitation, each Copyright License identified in Schedule 1 hereto; and

          (iii)     all proceeds of, revenues from, and accounts and general
     intangibles arising out of, the foregoing, including, without limitation,
     all proceeds of and revenues from any claim by the Lien Grantor against
     third parties for past, present or future infringement of any Copyright
     (including, without limitation, any Copyright owned by the Lien Grantor and
     identified in Schedule 1), and all rights and benefits of the Lien Grantor
     under any Copyright License (including, without limitation, any Copyright
     License identified in Schedule 1);

     PROVIDED that the following property is excluded from the foregoing
     security interest: any general intangibles or other rights arising under
     any contract, instrument, license or other document or under any law,
     regulation, permit, order or decree of any government authority if (but
     only to the extent that) the grant of a security interest therein would
     constitute a material violation of a valid and enforceable restriction in
     favor of a third party, unless and until all required consents shall have
     been obtained. The Lien Grantor shall, if requested to do so by the
     Grantee, use all commercially reasonable efforts to obtain any such
     required consent that is reasonably obtainable with respect to Collateral
     which the Grantee reasonably determines to be material.

          The Lien Grantor irrevocably constitutes and appoints the Grantee
     and any officer or agent thereof, with full power of substitution, as its
     true and lawful attorney-in-fact with full power and authority in the name
     of the Lien Grantor or in the Grantee's name, from time to time, in the
     Grantee's discretion, so long as any Event of Default shall have occurred
     and be continuing, to take with respect to the Copyright Collateral any and
     all appropriate action which the Lien Grantor might take with respect to
     the Copyright Collateral and to execute any and all documents and
     instruments which may be necessary or desirable to carry out the terms of
     this Copyright Security Agreement and to accomplish the purposes hereof.

                                       B-2
<Page>

     Except to the extent not prohibited by the Security Agreement or the Credit
Agreement, the Lien Grantor agrees not to sell, license, exchange, assign or
otherwise transfer or dispose of, or grant any rights with respect to, or
mortgage or otherwise encumber, any of the Copyright Collateral.

     The foregoing security interest is granted in conjunction with the security
interests granted by the Lien Grantor to the Grantee pursuant to the Security
Agreement. The Lien Grantor acknowledges and affirms that the rights and
remedies of the Grantee with respect to the security interest in the Copyright
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

     IN WITNESS WHEREOF, the Lien Grantor has caused this Copyright Security
Agreement to be duly executed by its officer thereunto duly authorized as of the
___ day of __________, ____.

                                  [NAME OF LIEN GRANTOR]

                                  By:
                                       -------------------------------------
                                       Name:
                                       Title:

Acknowledged:

JPMORGAN CHASE BANK,
as Collateral Agent

By:
     --------------------------------
     Name:
     Title:

                                       B-3
<Page>

STATE OF ____________             )
                                      ) ss.:
COUNTY OF __________              )

     I, ______________________, a Notary Public in and for said County, in the
State aforesaid, DO HEREBY CERTIFY, that _________________________,
_______________ of [NAME OF LIEN GRANTOR] (the "COMPANY"), personally known to
me to be the same person whose name is subscribed to the foregoing instrument as
such _________________, appeared before me this day in person and acknowledged
that (s)he signed, executed and delivered the said instrument as her/his own
free and voluntary act and as the free and voluntary act of said Company, for
the uses and purposes therein set forth being duly authorized so to do.

     GIVEN under my hand and Notarial Seal this ___ day of _______________,
____.

[Seal]

--------------------------------
Signature of notary public
My Commission expires __________

                                       B-4
<Page>

                                                                      SCHEDULE 1
                                                                    TO COPYRIGHT
                                                              SECURITY AGREEMENT

                             [NAME OF LIEN GRANTOR]

                             COPYRIGHT REGISTRATIONS

<Table>
<Caption>
                                                                EXPIRATION
  REGISTRATION NO.      REGISTRATION DATE         TITLE            DATE
-------------------   ---------------------   -------------   ---------------
<S>                   <C>                     <C>             <C>
</Table>

                             COPYRIGHT APPLICATIONS

<Table>
<Caption>
   CASE NO.        SERIAL NO.      COUNTRY       DATE       FILING TITLE
--------------   -------------   -----------   --------   ----------------
<S>              <C>             <C>           <C>        <C>
</Table>

                               COPYRIGHT LICENSES

<Table>
<Caption>
    NAME OF             PARTIES              DATE OF       SUBJECT
   AGREEMENT       LICENSOR/LICENSEE        AGREEMENT      MATTER
--------------   ---------------------   --------------   ----------
<S>              <C>                     <C>              <C>
</Table>

                                       B-5
<Page>

                                                                       EXHIBIT C
                                                           TO SECURITY AGREEMENT

                            PATENT SECURITY AGREEMENT

               (PATENTS, PATENT APPLICATIONS AND PATENT LICENSES)

     WHEREAS, [name of Lien Grantor], a _____________ corporation(1) (herein
referred to as the "LIEN GRANTOR") owns, or in the case of licenses is a party
to, the Patent Collateral (as defined below);

     WHEREAS, Cummins Inc. (the "COMPANY"), certain other Borrowers party
thereto (together with the Company, the "BORROWERS"), the Lenders party thereto,
and JPMorgan Chase Bank, as Administrative Agent, Collateral Agent, Issuing Bank
and Swingline Lender, are parties to a Credit Agreement dated as of November 5,
2002 (as amended from time to time, the "CREDIT AGREEMENT"); and

     WHEREAS, pursuant to (i) a Guarantee and Security Agreement dated as of
November 5, 2002 (as amended and/or supplemented from time to time, the
"SECURITY AGREEMENT") among the Company, the Subsidiary Guarantors party thereto
and JPMorgan Chase Bank, as Collateral Agent for the Secured Parties referred to
therein (in such capacity, together with its successors in such capacity, the
"GRANTEE"), and (ii) certain other Security Documents (including this Patent
Security Agreement), the Lien Grantor has [secured certain of its obligations
(the "SECURED OBLIGATIONS")](2) [guaranteed certain obligations of the Borrowers
and secured such guarantee (the "LIEN GRANTOR'S SECURED GUARANTEE")](3) by
granting to the Grantee for the benefit of such Secured Parties a continuing
security interest in personal property of the Lien Grantor, including all right,
title and interest of the Lien Grantor in, to and under the Patent Collateral
(as defined below);

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Lien Grantor grants to the
Grantee, to secure the [Secured Obligations] [Lien Grantor's Secured Guarantee],
a continuing security interest in all of the Lien Grantor's right, title and
interest in, to and under the following (all of the following items or types of
property being

----------
     (1)  Modify as needed if the Lien Grantor is not a corporation.

     (2)  Delete these bracketed words if the Lien Grantor is a Subsidiary
Guarantor.

     (3)  Delete these bracketed words if the Lien Grantor is the Company.

                                       C-1
<Page>

herein collectively referred to as the "PATENT COLLATERAL"), whether now owned
or existing or hereafter acquired or arising:

            (i)     each Patent (as defined in the Security Agreement) owned by
     the Lien Grantor, including, without limitation, each Patent referred to in
     Schedule 1 hereto;

           (ii)     each Patent License (as defined in the Security Agreement)
     to which the Lien Grantor is a party, including, without limitation, each
     Patent License identified in Schedule 1 hereto; and

          (iii)     all proceeds of and revenues from the foregoing, including,
     without limitation, all proceeds of and revenues from any claim by the Lien
     Grantor against third parties for past, present or future infringement of
     any Patent owned by the Lien Grantor (including, without limitation, any
     Patent identified in Schedule 1 hereto) and all rights and benefits of the
     Lien Grantor under any Patent License (including, without limitation, any
     Patent License identified in Schedule 1 hereto).

     PROVIDED that the following property is excluded from the foregoing
     security interest: any general intangibles or other rights arising under
     any contract, instrument, license or other document or under any law,
     regulation, permit, order or decree of any government authority if (but
     only to the extent that) the grant of a security interest therein would
     constitute a material violation of a valid and enforceable restriction in
     favor of a third party, unless and until all required consents shall have
     been obtained. The Lien Grantor shall, if requested to do so by the
     Grantee, use all commercially reasonable efforts to obtain any such
     required consent that is reasonably obtainable with respect to Collateral
     which the Grantee reasonably determines to be material.

          The Lien Grantor irrevocably constitutes and appoints the Grantee
     and any officer or agent thereof, with full power of substitution, as its
     true and lawful attorney-in-fact with full power and authority in the name
     of the Lien Grantor or in the Grantee's name, from time to time, in the
     Grantee's discretion, so long as any Event of Default shall have occurred
     and be continuing, to take with respect to the Patent Collateral any and
     all appropriate action which the Lien Grantor might take with respect to
     the Patent Collateral and to execute any and all documents and instruments
     which may be necessary or desirable to carry out the terms of this Patent
     Security Agreement and to accomplish the purposes hereof.

     Except to the extent not prohibited by the Security Agreement or the Credit
Agreement, the Lien Grantor agrees not to sell, license, exchange, assign or

                                       C-2
<Page>

otherwise transfer or dispose of, or grant any rights with respect to, or
mortgage or otherwise encumber, any of the Patent Collateral.

     The foregoing security interest is granted in conjunction with the security
interests granted by the Lien Grantor to the Grantee pursuant to the Security
Agreement. The Lien Grantor acknowledges and affirms that the rights and
remedies of the Grantee with respect to the security interest in the Patent
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

     IN WITNESS WHEREOF, the Lien Grantor has caused this Patent Security
Agreement to be duly executed by its officer thereunto duly authorized as of the
____ day of ____________, ____.

                                  [NAME OF LIEN GRANTOR]

                                  By:
                                       -------------------------------------
                                       Name:
                                       Title:

Acknowledged:

JPMORGAN CHASE BANK,
    as Collateral Agent

By:
     ---------------------------------
     Name:
     Title:

                                       C-3
<Page>

STATE OF ____________             )
                                      ) ss.:
COUNTY OF __________              )

     I, ______________________, a Notary Public in and for said County, in the
State aforesaid, DO HEREBY CERTIFY, that _________________________,
_______________ of [NAME OF LIEN GRANTOR] (the "COMPANY"), personally known to
me to be the same person whose name is subscribed to the foregoing instrument as
such _________________, appeared before me this day in person and acknowledged
that (s)he signed, executed and delivered the said instrument as her/his own
free and voluntary act and as the free and voluntary act of said Company, for
the uses and purposes therein set forth being duly authorized so to do.

     GIVEN under my hand and Notarial Seal this ___ day of _______________,
____.

[Seal]

--------------------------------
Signature of notary public
My Commission expires __________

                                       C-4
<Page>

                                                                      SCHEDULE 1
                                                                       TO PATENT
                                                              SECURITY AGREEMENT

                             [NAME OF LIEN GRANTOR]

                           PATENTS AND DESIGN PATENTS

<Table>
<Caption>
  PATENT NO.       ISSUED       EXPIRATION       COUNTRY       TITLE
--------------   ----------   --------------   -----------   ---------
<S>              <C>          <C>              <C>           <C>
</Table>

                               PATENT APPLICATIONS

<Table>
<Caption>
  CASE NO.      SERIAL NO.       COUNTRY       DATE      FILING TITLE
-----------   --------------   -----------   --------   ---------------
<S>           <C>              <C>           <C>        <C>
</Table>

                                 PATENT LICENSES
<Table>
<Caption>
   NAME OF             PARTIES             DATE OF        SUBJECT
  AGREEMENT       LICENSOR/LICENSEE       AGREEMENT       MATTER
-------------   ---------------------   -------------   -----------
<S>             <C>                     <C>             <C>
</Table>

                                       C-5
<Page>

                                                                       EXHIBIT D
                                                           TO SECURITY AGREEMENT

                          TRADEMARK SECURITY AGREEMENT

                 (TRADEMARKS, TRADEMARK REGISTRATIONS, TRADEMARK
                      APPLICATIONS AND TRADEMARK LICENSES)

     WHEREAS, [name of Lien Grantor], a _____________ corporation(1) (herein
referred to as the "LIEN GRANTOR") owns, or in the case of licenses is a party
to, the Trademark Collateral (as defined below);

     WHEREAS, Cummins Inc. (the "COMPANY"), certain other Borrowers party
thereto (together with the Company, the "BORROWERS"), the Lenders party thereto,
and JPMorgan Chase Bank, as Administrative Agent, Collateral Agent, Issuing Bank
and Swingline Lender, are parties to a Credit Agreement dated as of November 5,
2002 (as amended from time to time, the "CREDIT AGREEMENT"); and

     WHEREAS, pursuant to (i) a Guarantee and Security Agreement dated as of
November 5, 2002 (as amended and/or supplemented from time to time, the
"SECURITY AGREEMENT") among the Company, the Subsidiary Guarantors party thereto
and JPMorgan Chase Bank, as Collateral Agent for the Secured Parties referred to
therein (in such capacity, together with its successors in such capacity, the
"GRANTEE"), and (ii) certain other Security Documents (including this Trademark
Security Agreement), the Lien Grantor has [secured certain of its obligations
(the "SECURED OBLIGATIONS")](2) [guaranteed certain obligations of the Borrowers
and secured such guarantee (the "LIEN GRANTOR'S SECURED GUARANTEE")](3) by
granting to the Grantee for the benefit of such Secured Parties a continuing
security interest in personal property of the Lien Grantor, including all right,
title and interest of the Lien Grantor in, to and under the Trademark Collateral
(as defined below);

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Lien Grantor grants to the
Grantee, to secure the [Secured Obligations] [Lien Grantor's Secured Guarantee],
a continuing security interest in all of the Lien Grantor's right, title and
interest in, to and under the following (all of the following items or types of
property being

----------
     (1)  Modify as needed if the Lien Grantor is not a corporation.

     (2)  Delete these bracketed words if the Lien Grantor is a Subsidiary
Guarantor.

     (3)  Delete these bracketed words if the Lien Grantor is the Company.

                                       D-1
<Page>

herein collectively referred to as the "TRADEMARK COLLATERAL"), whether now
owned or existing or hereafter acquired or arising:

            (i)     each Trademark (as defined in the Security Agreement) owned
     by the Lien Grantor, including, without limitation, each Trademark
     registration and application referred to in Schedule 1 hereto, and all of
     the goodwill of the business connected with the use of, or symbolized by,
     each Trademark;

           (ii)     each Trademark License (as defined in the Security
     Agreement) to which the Lien Grantor is a party, including, without
     limitation, each Trademark License identified in Schedule 1 hereto, and all
     of the goodwill of the business connected with the use of, or symbolized
     by, each Trademark licensed pursuant thereto; and

          (iii)     all proceeds of and revenues from the foregoing, including,
     without limitation, all proceeds of and revenues from any claim by the Lien
     Grantor against third parties for past, present or future unfair
     competition with, or violation of intellectual property rights in
     connection with or injury to, or infringement or dilution of, any Trademark
     owned by the Lien Grantor (including, without limitation, any Trademark
     identified in Schedule 1 hereto), and all rights and benefits of the Lien
     Grantor under any Trademark License (including, without limitation, any
     Trademark License identified in Schedule 1 hereto), or for injury to the
     goodwill associated with any of the foregoing.

     PROVIDED that the following property is excluded from the foregoing
     security interest: any general intangibles or other rights arising under
     any contract, instrument, license or other document or under any law,
     regulation, permit, order or decree of any government authority if (but
     only to the extent that) the grant of a security interest therein would
     constitute a material violation of a valid and enforceable restriction in
     favor of a third party, unless and until all required consents shall have
     been obtained. The Lien Grantor shall, if requested to do so by the
     Grantee, use all commercially reasonable efforts to obtain any such
     required consent that is reasonably obtainable with respect to Collateral
     which the Grantee reasonably determines to be material.

          The Lien Grantor irrevocably constitutes and appoints the Grantee
     and any officer or agent thereof, with full power of substitution, as its
     true and lawful attorney-in-fact with full power and authority in the name
     of the Lien Grantor or in the Grantee's name, from time to time, in the
     Grantee's discretion, so long as any Event of Default shall have occurred
     and be continuing, to take with respect to the Trademark Collateral any

                                       D-2
<Page>

     and all appropriate action which the Lien Grantor might take with respect
     to the Trademark Collateral and to execute any and all documents and
     instruments which may be necessary or desirable to carry out the terms of
     this Trademark Security Agreement and to accomplish the purposes hereof.

     Except to the extent not prohibited by the Security Agreement or the Credit
Agreement, the Lien Grantor agrees not to sell, license, exchange, assign or
otherwise transfer or dispose of, or grant any rights with respect to, or
mortgage or otherwise encumber, any of the Trademark Collateral.

     The foregoing security interest is granted in conjunction with the security
interests granted by the Lien Grantor to the Grantee pursuant to the Security
Agreement. The Lien Grantor acknowledges and affirms that the rights and
remedies of the Grantee with respect to the security interest in the Trademark
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

     IN WITNESS WHEREOF, the Lien Grantor has caused this Trademark Security
Agreement to be duly executed by its officer thereunto duly authorized as of the
____ day of __________, ____.

                                  [NAME OF LIEN GRANTOR]

                                  By:
                                       -------------------------------------
                                       Name:
                                       Title:

Acknowledged:

JPMORGAN CHASE BANK,
     as Collateral Agent

By:
     --------------------------------
     Name:
     Title:

                                       D-3
<Page>

STATE OF ____________             )
                                  ) ss.:
COUNTY OF __________              )

     I, ______________________, a Notary Public in and for said County, in the
State aforesaid, DO HEREBY CERTIFY, that _________________________,
_______________ of [NAME OF LIEN GRANTOR] (the "COMPANY"), personally known to
me to be the same person whose name is subscribed to the foregoing instrument as
such _________________, appeared before me this day in person and acknowledged
that (s)he signed, executed and delivered the said instrument as her/his own
free and voluntary act and as the free and voluntary act of said Company, for
the uses and purposes therein set forth being duly authorized so to do.

     GIVEN under my hand and Notarial Seal this ___ day of _______________,
____.

[Seal]

--------------------------------
Signature of notary public
My Commission expires __________

                                       D-4
<Page>

                                                                      SCHEDULE 1
                                                                    TO TRADEMARK
                                                              SECURITY AGREEMENT

                             [NAME OF LIEN GRANTOR]

                          U.S. TRADEMARK REGISTRATIONS

<Table>
<Caption>
  TRADEMARK                         REG. NO.         REG. DATE
-------------                 ------------------   -------------
<S>                           <C>                  <C>
</Table>

                           U.S. TRADEMARK APPLICATIONS

<Table>
<Caption>
  TRADEMARK                         REG. NO.         REG. DATE
-------------                 ------------------   -------------
<S>                           <C>                  <C>
</Table>

                                       D-5
<Page>

                               TRADEMARK LICENSES

<Table>
<Caption>
   NAME OF            PARTIES             DATE OF        SUBJECT
  AGREEMENT      LICENSOR/LICENSEE       AGREEMENT       MATTER
------------   ---------------------   -------------   -----------
<S>            <C>                     <C>             <C>
</Table>

                                       D-6
<Page>

                                                                       EXHIBIT E
                                                           TO SECURITY AGREEMENT

                           PERFECTION CERTIFICATE(1)

     The undersigned is a duly authorized officer of [NAME OF LIEN GRANTOR] (the
"LIEN GRANTOR"). With reference to the Guarantee and Security Agreement dated as
of November 5, 2002 among Cummins Inc., the Guarantors party thereto and
JPMorgan Chase Bank, as Collateral Agent (terms defined therein being used
herein as therein defined), the undersigned certifies to the Collateral Agent
and each other Secured Party as follows:

     A.   Information Required for Filings and Searches for Prior Filings.

            1.      JURISDICTION OF ORGANIZATION. The Lien Grantor is a
     corporation(2) organized under the laws of _____________.

            2.      NAME. The exact [corporate] name of the Lien Grantor as it
     appears in its [certificate of incorporation] is as follows:

            3.      PRIOR NAMES. (a) Set forth below is each other [corporate]
     name that the Lien Grantor has had since its organization, together with
     the date of the relevant change:

           (b)      Except as set forth in Schedule __ hereto, the Lien Grantor
     has not changed its corporate structure(3) in any way within the past five
     years.

----------
     (1)  This certificate may require substantial modifications, E.G., if the
Lien Grantor is newly formed or if filings and file searches are to occur after
the closing.

     (2)  Modify as needed if the Lien Grantor is not a corporation.

     (3)  Changes in corporate structure would include mergers and
consolidations, as well as any change in the Lien Grantor's form of
organization. If any such change has occurred, include in Schedule __ the
information required by Part A of this certificate as to each constituent party
to a merger or consolidation and any other predecessor organization.

                                       E-1
<Page>

            4.      FILING OFFICE. In order to perfect the Transaction Liens
     granted by the Lien Grantor, to the extent such Transaction Liens can be
     perfected by filing under the UCC, a duly signed financing statement on
     Form UCC-1, with the collateral described as set forth on Schedule __
     hereto, should be on file in the office of ____________ in _________.

     B.   Additional Information Required for Searches for Prior Filings Under
Old Article 9.

            1.      CURRENT LOCATIONS. (a) The chief executive office of the
     Lien Grantor is located at the following address:

<Table>
<Caption>
MAILING ADDRESS                      COUNTY           STATE
-----------------------------        --------------   --------------
<S>                                  <C>              <C>
</Table>

The Lien Grantor [does] [does not] have a place of business in another county of
the State listed above.

           (b)      The following are all places of business of the Lien Grantor
     not identified above:

<Table>
<Caption>
MAILING ADDRESS                      COUNTY           STATE
-----------------------------        --------------   --------------
<S>                                  <C>              <C>
</Table>

           (c)      The following are all locations not identified above where
     the Lien Grantor maintains any Inventory:

<Table>
<Caption>
MAILING ADDRESS                      COUNTY           STATE
-----------------------------        --------------   --------------
<S>                                  <C>              <C>
</Table>

            (d) The following are the names and addresses of all Persons (other
     than the Lien Grantor) that have possession of any of the Lien Grantor's
     Inventory:

<Table>
<Caption>
MAILING ADDRESS                      COUNTY           STATE
-----------------------------        --------------   --------------
<S>                                  <C>              <C>
</Table>

            2.      PRIOR LOCATIONS. (a) Set forth below is the information
     required by paragraphs (a) and (b) of Part B-1 above with respect to each

                                       F-2
<Page>

     other location or place of business maintained by the Lien Grantor at any
     time during the past five years:

           (b)      Set forth below is the information required by paragraphs
     (c) and (d) of Part B-1 above with respect to each other location or bailee
     where or with whom any of the Lien Grantor's Inventory has been lodged at
     any time during the past four months:

     IN WITNESS WHEREOF, I have hereunto set my hand this __ day of __________,
____.

                                        ---------------------------------------
                                        Name:
                                        Title:

                                       E-3
<Page>

                                                                     SCHEDULE __
                                                       TO PERFECTION CERTIFICATE

                             COLLATERAL DESCRIPTION

     The collateral shall include each of the following, whether now owned or
existing or hereafter acquired or arising and regardless of where located: all
Accounts, all Chattel Paper, all Deposit Accounts, all Documents, all Equipment,
all General Intangibles (including any Equity Interests in other Persons that do
not constitute Investment Property), all Instruments (including all Intercompany
Notes), all Inventory, all Investment Property, all Letter-of-Credit Rights; all
books and records (including customer lists, credit files, computer programs,
printouts and other computer materials and records) of such Original Lien
Grantor pertaining to any of its Collateral, such Original Lien Grantor's
ownership interest in its Collateral Accounts, all Financial Assets credited to
its Collateral Accounts from time to time and all Security Entitlements in
respect thereof, all cash held in its Collateral Accounts from time to time and
all other money in the possession of the Collateral Agent; and all Proceeds of
the Collateral described in the foregoing.

     The following property is excluded from the foregoing security interests:
(A) motor vehicles the perfection of a security interest in which is excluded
from the Uniform Commercial Code in the relevant jurisdiction, (B) voting Equity
Interests in any Foreign Subsidiary, to the extent (but only to the extent)
required to prevent the Collateral from including more than 65% of all voting
Equity Interests in such Foreign Subsidiary, (C) any shares of stock in or
indebtedness of any Restricted Subsidiary (as such terms are used in the
Indenture, to the extent that the Indenture or any New Indenture containing a
restriction on "Secured Debt" on the same terms as the Indenture is effective),
(D) any Principal Property (as defined in the Indenture, to the extent that the
Indenture or any New Indenture containing a restriction on "Secured Debt" on the
same terms as the Indenture is effective), (E) any Fixture and (F) any general
intangibles or other rights arising under any contract, instrument, license or
other document or under any law, regulation, permit, order or decree of any
government authority if (but only to the extent that) the grant of a security
interest therein would constitute a material violation of a valid and
enforceable restriction in favor of a third party, unless and until all required
consents shall have been obtained. Each Original Lien Grantor shall, if
requested to do so by the Collateral Agent, use all commercially reasonable
efforts to obtain any such required consent that is reasonably obtainable with
respect to Collateral which the Collateral Agent reasonably determines to be
material.

                                       E-4
<Page>

     TERMS DEFINED IN UCC. As used herein, each of the following terms has the
meaning specified in the UCC:

<Table>
<Caption>
TERM                                                                            UCC
----                                                                            ---
<S>                                                                             <C>
Account                                                                         9-102
Authenticate                                                                    9-102
Certificated Security                                                           8-102
Chattel Paper                                                                   9-102
Commercial Tort Claim                                                           9-102
Commodity Account                                                               9-102
Commodity Contract                                                              9-102
Commodity Customer                                                              9-102
Commodity Intermediary                                                          9-102
Deposit Account                                                                 9-102
Document                                                                        9-102
Entitlement Holder                                                              8-102
Entitlement Order                                                               8-102
EQUIPMENT                                                                       9-102
Financial Asset                                                                 8-102 & 103
FIXTURE                                                                         9-102
General Intangibles                                                             9-102
Instrument                                                                      9-102
Inventory                                                                       9-102
Investment Property                                                             9-102
Letter-of-Credit Right                                                          9-102
Payment Intangible                                                              9-102
Record                                                                          9-102
Securities Account                                                              8-501
Securities Intermediary                                                         8-102
Security                                                                        8-102 & 103
Security Entitlement                                                            8-102
Supporting Obligations                                                          9-102
Uncertificated Security                                                         8-102
</Table>

     ADDITIONAL DEFINITIONS. The following terms, as used herein, have the
following respective meanings:

     "CASH COLLATERAL ACCOUNT" has the meaning specified in Section 12 to the
Guarantee and Security Agreement.

     "COLLATERAL" means all property, whether now owned or hereafter acquired,
on which a Lien is granted or purports to be granted to the Collateral Agent
pursuant to the Security Documents. When used with respect to a specific

                                       E-5
<Page>

Lien Grantor, the term "Collateral" means all its property on which such a Lien
is granted or purports to be granted.

     "COLLATERAL ACCOUNTS" means the Cash Collateral Accounts, the Controlled
Deposit Accounts, the Controlled Securities Accounts and the Investment Property
Collateral Accounts.

     "COLLATERAL AGENT" means JPMorgan Chase Bank, in its capacity as collateral
agent under the Loan Documents.

     "COMPANY" means Cummins Inc., an Indiana corporation.

     "CONTROLLED DEPOSIT ACCOUNT" means a Deposit Account (i) that is subject to
a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is
the Depositary Bank's "customer" (as defined in UCC Section 4-104).

     "CONTROLLED SECURITIES ACCOUNT" means a Securities Account that (i) is
maintained in the name of a Lien Grantor at an office of a Securities
Intermediary located in the United States and (ii) together with all Financial
Assets credited thereto and all related Security Entitlements, is subject to a
Securities Account Control Agreement among such Lien Grantor, the Collateral
Agent and such Securities Intermediary.

     "CREDIT AGREEMENT" means the Credit Agreement dated as of November __, 2002
among the Company, Cummins Engine Co. Ltd., Cummins Power Generation Ltd.,
Newage International Limited, the Lenders party thereto and JPMorgan Chase Bank,
as Administrative Agent, Collateral Agent, LC Issuing Bank and Swingline Lender.

     "DEPOSIT ACCOUNT CONTROL AGREEMENT" means, with respect to any Deposit
Account of any Lien Grantor, an agreement among such Lien Grantor, the
Collateral Agent and the relevant Depositary Bank, set forth in an Authenticated
Record, (i) that such Depositary Bank will comply with instructions originated
by the Collateral Agent directing disposition of the funds in such Deposit
Account without further consent by such Lien Grantor and (ii) subordinating to
the relevant Transaction Lien all claims of the Depositary Bank to such Deposit
Account (except its right to deduct its normal operating charges and any
uncollected funds previously credited thereto and other similar exceptions
reasonably acceptable to the Collateral Agent).

     "DEPOSITARY BANK" means a bank at which a Controlled Deposit Account is
maintained.

     "EQUITY INTEREST" means (i) in the case of a corporation, any shares of its
capital stock, (ii) in the case of a limited liability company, any membership

                                       E-6
<Page>

interest therein, (iii) in the case of a partnership, any partnership interest
(whether general or limited) therein, (iv) in the case of any other business
entity, any participation or other interest in the equity or profits thereof,
(v) any warrant, option or other right to acquire any Equity Interest described
in this definition or (vi) any Security Entitlement in respect of any Equity
Interest described in this definition.

     "FOREIGN SUBSIDIARY" means any Subsidiary which is a "controlled foreign
corporation" within the meaning of the Code.

     "GUARANTEE AND SECURITY AGREEMENT" means the Guarantee and Security
Agreement dated as of November __, 2002 among the Company, the Subsidiary
Guarantors, and the Collateral Agent

     "INDENTURE" means the indenture dated as of March 1, 1986 between the
Company and JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank,
formerly known as Chemical Bank, successor by merger to The Chase Manhattan Bank
(National Association)), as trustee, as amended and supplemented prior to the
Effective Date.

     "INTERCOMPANY NOTE" means a promissory note evidencing loans or advances
made by the Company or any Subsidiary Guarantor to any Material Subsidiary that
is an Unrestricted Subsidiary.

     "INVESTMENT PROPERTY COLLATERAL ACCOUNT" has the meaning specified in
Section 10 to the Guarantee and Security Agreement.

     "LIEN GRANTORS" means the Company and the Subsidiary Guarantors.

     "LOAN DOCUMENTS" means the Credit Agreement and the Security Documents.

     "MATERIAL SUBSIDIARY" means each Subsidiary listed on Schedule 3.07 to the
Credit Agreement and identified on such Schedule as a Material Subsidiary, and
any other (a) Unrestricted Subsidiary with total assets of more than $25,000,000
or (b) Restricted Subsidiary with total assets of more than $100,000,000, in
each case calculated as of the last day of the most recent fiscal quarter of the
Company for which financial statements were delivered under Section 5.04. to the
Credit Agreement.

     "ORIGINAL LIEN GRANTOR" means any Lien Grantor that grants a Lien on any of
its assets hereunder on the Effective Date.

     "PROCEEDS" means all proceeds of, and all other profits, products, rents or
receipts, in whatever form, arising from the collection, sale, lease, exchange,

                                       E-7
<Page>

assignment, licensing or other disposition of, or other realization upon, any
Collateral, including all claims of the relevant Lien Grantor against third
parties for loss of, damage to or destruction of, or for proceeds payable under,
or unearned premiums with respect to, policies of insurance in respect of, any
Collateral, and any condemnation or requisition payments with respect to any
Collateral.

     "SECURED OBLIGATIONS" means (i) all principal of all Loans and obligations
to reimburse LC Disbursements outstanding from time to time under the Credit
Agreement, all interest (including Post-Petition Interest) on such Loans and
reimbursement obligations and all other amounts now or hereafter payable by the
Borrowers pursuant to the Loan Documents and (ii) all obligations (if any)
designated by the Company as additional Secured Obligations pursuant to Section
25 to the Guarantee and Security Agreement.

     "SECURED PARTIES" means the holders from time to time of the Secured
Obligations.

     "SECURITY DOCUMENTS" means this Agreement, the Security Agreement
Supplements, the Commodity Account Control Agreements, the Deposit Account
Control Agreements, the Issuer Control Agreements, the Securities Account
Control Agreements, the Intellectual Property Security Agreements and all other
supplemental or additional security agreements, control agreements or similar
instruments delivered pursuant to the Loan Documents.

     "SUBSIDIARY GUARANTOR" means each Subsidiary listed on the signature pages
to the Guarantee and Security Agreement under the caption "Subsidiary
Guarantors" and each Subsidiary that shall, at any time after the date hereof,
become a "Subsidiary Guarantor" pursuant to Section 24 to the Guarantee and
Security Agreement.

     "TRANSACTION LIENS" means the Liens granted by the Lien Grantors under the
Security Documents.

     "UNRESTRICTED SUBSIDIARY" has the meaning set forth in the Indenture.

                                       E-8
<Page>

                                                                       EXHIBIT F
                                                           TO SECURITY AGREEMENT

                            ISSUER CONTROL AGREEMENT

     ISSUER CONTROL AGREEMENT dated as of ______, _____ among _____________ (the
"LIEN GRANTOR"), JPMorgan Chase Bank, as Collateral Agent (the "SECURED PARTY"),
and _________ (the "ISSUER"). All references herein to the "UCC" refer to the
Uniform Commercial Code as in effect from time to time in [Issuer's jurisdiction
of incorporation].

                              W I T N E S S E T H :

     WHEREAS, the Lien Grantor is the registered holder of [specify Pledged
Uncertificated Securities issued by the Issuer] issued by the Issuer (the
"SECURITIES");

     WHEREAS, pursuant to a Guarantee and Security Agreement dated as of
November 5, 2002 (as such agreement may be amended and/or supplemented from time
to time, the "SECURITY AGREEMENT"), the Lien Grantor has granted to the Secured
Party a continuing security interest (the "TRANSACTION LIEN") in all right,
title and interest of the Lien Grantor in, to and under the Securities, whether
now existing or hereafter arising; and

     WHEREAS, the parties hereto are entering into this Agreement in order to
perfect the Transaction Lien on the Securities;

     NOW, THEREFORE, the parties hereto agree as follows:

     Section 1. NATURE OF SECURITIES. The Issuer confirms that (i) the
Securities are "uncertificated securities" (as defined in Section 8-102 of the
UCC) and (ii) the Lien Grantor is registered on the books of the Issuer as the
registered holder of the Securities.

     Section 2. INSTRUCTIONS. The Issuer agrees to comply with any "instruction"
(as defined in Section 8-102 of the UCC) originated by the Secured Party and
relating to the Securities without further consent by the Lien Grantor or any
other person. The Lien Grantor consents to the foregoing agreement by the
Issuer.

     Section 3. WAIVER OF LIEN; WAIVER OF SET-OFF. The Issuer waives any
security interest, lien or right of set-off that it may now have or hereafter
acquire in or with respect to the Securities. The Issuer's obligations in
respect of the

                                       F-1
<Page>

Securities will not be subject to deduction, set-off or any other
right in favor of any person other than the Secured Party.

     Section 4. CHOICE OF LAW. This Agreement shall be governed by the laws of
[Issuer's jurisdiction of incorporation].(1)

     Section 5. CONFLICT WITH OTHER AGREEMENTS. There is no agreement (except
this Agreement) between the Issuer and the Lien Grantor with respect to the
Securities [except for [identify any existing other agreements] (the "EXISTING
OTHER AGREEMENTS")]. In the event of any conflict between this Agreement (or any
portion hereof) and any other agreement [(including any Existing Other
Agreement)] between the Issuer and the Lien Grantor with respect to the
Securities, whether now existing or hereafter entered into, the terms of this
Agreement shall prevail.

     Section 6. AMENDMENTS. No amendment or modification of this Agreement or
waiver of any right hereunder shall be binding on any party hereto unless it is
in writing and is signed by all the parties hereto.

     Section 7. NOTICE OF ADVERSE CLAIMS. Except for the claims and interests of
the Secured Party and the Lien Grantor in the Securities, the Issuer does not
know of any claim to, or interest in, the Securities. If any person asserts any
lien, encumbrance or adverse claim (including any writ, garnishment, judgment,
attachment, execution or similar process) against the Securities, the Issuer
will promptly notify the Secured Party and the Lien Grantor thereof.

     Section 8. MAINTENANCE OF SECURITIES. In addition to, and not in lieu of,
the obligation of the Issuer to honor instructions as agreed in Section 2
hereof, the Issuer agrees as follows:

            (i)     LIEN GRANTOR INSTRUCTIONS; NOTICE OF EXCLUSIVE CONTROL. So
     long as the Issuer has not received a Notice of Exclusive Control (as
     defined below), the Issuer may comply with instructions of the Lien Grantor
     or any duly authorized agent of the Lien Grantor in respect of the
     Securities. After the Issuer receives a written notice from the Secured
     Party that it is exercising exclusive control over the Securities (a
     "NOTICE OF EXCLUSIVE CONTROL"), the Issuer will cease complying with
     instructions of the Lien Grantor or any of its agents.

----------
     (1)  If the Issuer's jurisdiction of incorporation is not a State in the
United States that has adopted the revisions to Articles 8 and 9 of the UCC
promulgated in 1994, this form of Issuer Control Agreement will not be
appropriate. It may be necessary to transfer the relevant securities into the
Collateral Agent's name to obtain comparable results under the laws of such
jurisdiction.

                                       F-2
<Page>

           (ii)     NON-CASH DIVIDENDS AND DISTRIBUTIONS. After the Issuer
     receives a Notice of Exclusive Control, the Issuer shall deliver to the
     Secured Party all dividends, interest and other distributions paid or made
     upon or with respect to the Securities.

          (iii)     VOTING RIGHTS. Until the Issuer receives a Notice of
     Exclusive Control, the Lien Grantor shall be entitled to direct the Issuer
     with respect to voting the Securities.

           (iv)     STATEMENTS AND CONFIRMATIONS. The Issuer will promptly send
     copies of all statements and other correspondence concerning the Securities
     simultaneously to each of the Lien Grantor and the Secured Party at their
     respective addresses specified in Section 11 hereof.

            (v)     TAX REPORTING. All items of income, gain, expense and loss
     recognized in respect of the Securities shall be reported to the Internal
     Revenue Service and all state and local taxing authorities under the name
     and taxpayer identification number of the Lien Grantor.

     Section 9.  REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE ISSUER. The
Issuer makes the following representations, warranties and covenants:

            (i)     This Agreement is a valid and binding agreement of the
     Issuer enforceable in accordance with its terms.

           (ii)     The Issuer has not entered into, and until the termination
     of this Agreement will not enter into, any agreement with any other person
     relating to the Securities pursuant to which it has agreed, or will agree,
     to comply with instructions (as defined in Section 8-102 of the UCC) of
     such person. The Issuer has not entered into any other agreement with the
     Lien Grantor or the Secured Party purporting to limit or condition the
     obligation of the Issuer to comply with instructions as agreed in Section 2
     hereof.

     Section 10. SUCCESSORS. This Agreement shall be binding upon, and shall
inure to the benefit of, the parties hereto and their respective successors and
assigns.

     Section 11. NOTICES. Each notice, request or other communication given to
any party hereunder shall be in writing (which term includes facsimile or other
electronic transmission) and shall be effective (i) when delivered to such party
at its address specified below, (ii) when sent to such party by facsimile or
other electronic transmission, addressed to it at its facsimile number or
electronic address specified below, and such party sends back an electronic
confirmation of

                                       F-3
<Page>

receipt or (iii) ten days after being sent to such party by certified or
registered United States mail, addressed to it at its address specified below,
with first class or airmail postage prepaid:

     Lien Grantor:

     Secured Party:

     Issuer:

Any party may change its address, facsimile number and/or e-mail address for
purposes of this Section by giving notice of such change to the other parties in
the manner specified above.

     Section 12. TERMINATION. The rights and powers granted herein to the
Secured Party (i) have been granted in order to perfect the Transaction Lien,
(ii) are powers coupled with an interest and (iii) will not, except as required
by law, be affected by any bankruptcy of the Lien Grantor or any lapse of time.
The obligations of the Issuer hereunder shall continue in effect until the
Secured Party has notified the Issuer in writing that the Transaction Lien has
been terminated pursuant to the Security Agreement.

     Section 13. COUNTERPARTS. This Agreement may be executed in any number of
counterparts, all of which shall constitute one and the same instrument, and any
party hereto may execute this Agreement by signing and delivering one or more
counterparts.

                                          [NAME OF LIEN GRANTOR]

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                          JPMORGAN CHASE BANK,
                                          as Collateral Agent

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                       F-4
<Page>

                                          [NAME OF ISSUER]

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                       F-5
<Page>

                                                                       EXHIBIT A

                          [Letterhead of Secured Party]

                                     [Date]

[Name and Address of Issuer]

Attention: ________________________

          Re:  NOTICE OF EXCLUSIVE CONTROL

Ladies and Gentlemen:

     As referenced in the Issuer Control Agreement dated as of ______, ____
among [name of Lien Grantor], us and you (a copy of which is attached), we
notify you that we will hereafter exercise exclusive control over [specify
Pledged Uncertificated Securities] registered in the name of [name of Lien
Grantor] (the "SECURITIES"). You are instructed not to accept any directions or
instructions with respect to the Securities from any person other than the
undersigned unless otherwise ordered by a court of competent jurisdiction.

     You are instructed to deliver a copy of this notice by facsimile
transmission to [name of Lien Grantor].

                                   Very truly yours,

                                          JPMORGAN CHASE BANK,
                                          as Collateral Agent

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

cc: [name of Lien Grantor]

                                       F-6
<Page>

                                                                       EXHIBIT G
                                                           TO SECURITY AGREEMENT

                      SECURITIES ACCOUNT CONTROL AGREEMENT

     SECURITIES ACCOUNT CONTROL AGREEMENT dated as of ______, ____ among
_____________ (the "LIEN GRANTOR"), JPMorgan Chase Bank, as Collateral Agent
(the "SECURED PARTY"), and _________ (the "SECURITIES INTERMEDIARY"). All
references herein to the "UCC" refer to the Uniform Commercial Code as in effect
from time to time in [the State of New York].(1) Terms defined in the UCC have
the same meanings when used herein.

                              W I T N E S S E T H :

     WHEREAS, the Lien Grantor is the entitlement holder with respect to the
Account (as defined below);

     WHEREAS, pursuant to a Guarantee and Security Agreement dated as of
November 5, 2002 (as such agreement may be amended and/or supplemented from time
to time, the "SECURITY AGREEMENT"), the Lien Grantor has granted to the Secured
Party a continuing security interest (the "TRANSACTION LIEN") in all right,
title and interest of the Lien Grantor in, to and under the Account, all
financial assets credited thereto and all security entitlements in respect
thereof, whether now owned or existing or hereafter acquired or arising; and

     WHEREAS, the parties hereto are entering into this Agreement in order to
perfect the Transaction Lien on the Account, all financial assets from time to
time credited thereto and all security entitlements in respect thereof;

     NOW, THEREFORE, the parties hereto agree as follows:

     Section 1. ESTABLISHMENT OF ACCOUNT. The Securities Intermediary confirms
that:

            (i)     the Securities Intermediary has established account number
     [identify account number] in the name of "[name of Lien Grantor]" (such
     account and any successor account, the "ACCOUNT"),

           (ii)     the Account is a "securities account" as defined in Section
     8-501 of the UCC,

----------
     (1)  See Section 5 below and the footnote thereto.

                                       G-1
<Page>

          (iii)     the Securities Intermediary is acting as a "securities
     intermediary" (as defined in Section 8-102 of the UCC) in respect of the
     Account,

           (iv)     the Securities Intermediary shall, subject to the terms of
     this Agreement, treat the Lien Grantor as entitled to exercise the rights
     that comprise all financial assets from time to time credited to the
     Account,

            (v)     all property delivered to the Securities Intermediary by or
     on behalf of the Lien Grantor will be promptly credited to the Account, and

           (vi)     all financial assets (except cash) credited to the Account
     will be registered in the name of the Securities Intermediary, indorsed to
     the Securities Intermediary or in blank or credited to another securities
     account maintained in the name of the Securities Intermediary and in no
     case will any financial asset credited to the Account be registered in the
     name of the Lien Grantor, payable to the order of the Lien Grantor or
     specially indorsed to the Lien Grantor unless such financial asset has been
     further indorsed to the Securities Intermediary or in blank.

     Section 2. "FINANCIAL ASSETS" ELECTION. The parties hereto agree that each
item of property (whether investment property, financial asset, security,
instrument, cash or other property) credited to the Account shall be treated as
a "financial asset" within the meaning of Sections 8-102(a)(9) and 8-103 of the
UCC.

     Section 3. ENTITLEMENT ORDERS. The Securities Intermediary agrees to comply
with any "entitlement order" (as defined in Section 8-102 of the UCC) originated
by the Secured Party and relating to the Account or any financial asset credited
thereto without further consent by the Lien Grantor or any other person. The
Lien Grantor consents to the foregoing agreement by the Securities Intermediary.

     Section 4. WAIVER OF LIEN; WAIVER OF SET-OFF. The Securities Intermediary
waives any security interest, lien or right to make deductions or setoffs that
it may now have or hereafter acquire in or with respect to the Account, any
financial asset credited thereto or any security entitlement in respect thereof.
Neither the financial assets credited to the Account nor the security
entitlements in respect thereof will be subject to deduction, set-off, banker's
lien, or any other right in favor of any person other than the Secured Party
(except that the Securities Intermediary may set off (i) all amounts due to it
in respect of its customary fees and expenses for the routine maintenance and
operation of the Account and (ii)

                                       G-2
<Page>

the face amount of any checks that have been credited to the Account but are
subsequently returned unpaid because of uncollected or insufficient funds).

     Section 5. CHOICE OF LAW. This Agreement shall be construed in accordance
with and governed by the laws of [the State of New York]. [The State of New
York] shall be deemed to be the Securities Intermediary's jurisdiction for
purposes of the UCC (including, without limitation, Section 8-110 thereof).

     Section 6. CONFLICT WITH OTHER AGREEMENTS. There is no agreement (except
this Agreement) between the Securities Intermediary and the Lien Grantor with
respect to the Account [except for [identify any existing other agreements] (the
"EXISTING OTHER AGREEMENTS")]. In the event of any conflict between this
Agreement (or any portion hereof) and any other agreement [(including any
Existing Other Agreement)] between the Securities Intermediary and the Lien
Grantor with respect to the Account, whether now existing or hereafter entered
into, the terms of this Agreement shall prevail. [If any Existing Other
Agreement does not specify that it is governed by the laws of [the jurisdiction
specified in Section 5], such Existing Other Agreement is hereby amended to
specify that it is governed by the laws of [the jurisdiction specified in
Section 5].

     Section 7. AMENDMENTS. No amendment or modification of this Agreement or
waiver of any right hereunder shall be binding on any party hereto unless it is
in writing and is signed by all the parties hereto.

     Section 8. NOTICE OF ADVERSE CLAIMS. Except for the claims and interests of
the Secured Party and the Lien Grantor, the Securities Intermediary does not
know of any claim to, or interest in, the Account, any financial asset credited
thereto or any security entitlement in respect thereof. If any person asserts
any lien, encumbrance or adverse claim (including any writ, garnishment,
judgment, attachment, execution or similar process) against the Account, any
financial asset credited thereto or any security entitlement in respect thereof,
the Securities Intermediary will promptly notify the Secured Party and the Lien
Grantor thereof.

     Section 9. MAINTENANCE OF ACCOUNT. In addition to, and not in lieu of, the
obligation of the Securities Intermediary to honor entitlement orders as agreed
in Section 3 hereof, the Securities Intermediary agrees to maintain the Account
as follows:

            (i)     LIEN GRANTOR ENTITLEMENT ORDERS; NOTICE OF EXCLUSIVE
     CONTROL. So long as the Securities Intermediary has not received a Notice
     of Exclusive Control (as defined below), the Securities Intermediary may,
     subject to paragraph (iii) below, comply with entitlement orders of the
     Lien Grantor or any duly authorized agent of the Lien Grantor in respect of
     the Account and any or all financial assets credited thereto. After the

                                       G-3
<Page>

     Securities Intermediary receives a written notice from the Secured Party
     that is exercising exclusive control over the Account (a "NOTICE OF
     EXCLUSIVE CONTROL"), the Securities Intermediary will cease complying with
     entitlement orders of the Lien Grantor or any of its agents.

           (ii)     VOTING RIGHTS. Until the Securities Intermediary receives a
     Notice of Exclusive Control, the Lien Grantor shall be entitled to direct
     the Securities Intermediary with respect to the voting of any financial
     assets credited to the Account.

          (iii)     PERMITTED INVESTMENTS. Until the Securities Intermediary
     receives a Notice of Exclusive Control, the Lien Grantor shall be entitled
     to direct the Securities Intermediary with respect to the selection of
     investments to be made and credited to the Account; PROVIDED that the
     Securities Intermediary shall not honor any instruction or entitlement
     order to purchase any investment except investments of a type described in
     Exhibit B hereto.(3)

           (iv)     STATEMENTS AND CONFIRMATIONS. The Securities Intermediary
     will promptly send copies of all statements, confirmations and other
     correspondence concerning the Account and/or any financial assets credited
     thereto simultaneously to each of the Lien Grantor and the Secured Party at
     their respective addresses specified in Section 12 hereof.

            (v)     TAX REPORTING. All items of income, gain, expense and loss
     recognized in the Account or in respect of any financial assets credited
     thereto shall be reported to the Internal Revenue Service and all state and
     local taxing authorities under the name and taxpayer identification number
     of the Lien Grantor.

     Section 10. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SECURITIES
INTERMEDIARY. The Securities Intermediary makes the following representations,
warranties and covenants:

            (i)     The Account has been established as set forth in Section 1
     above and will be maintained in the manner set forth herein until this
     Agreement is terminated. The Securities Intermediary will not change the
     name or account number of the Account without the prior written consent of
     the Secured Party.

----------
     (3)  This Schedule should list the types of investments that are Permitted
Investments.

                                       G-4
<Page>

           (ii)     No financial asset credited to the Account is or will be
     registered in the name of the Lien Grantor, payable to the order of the
     Lien Grantor, or specially indorsed to the Lien Grantor, unless such
     financial asset has been further indorsed by the Lien Grantor to the
     Securities Intermediary or in blank.

          (iii)     This Agreement is a valid and binding agreement of the
     Securities Intermediary enforceable in accordance with its terms.

           (iv)     The Securities Intermediary has not entered into, and until
     the termination of this Agreement will not enter into, any agreement with
     any person (other than the Secured Party) relating to the Account and/or
     any financial asset credited thereto pursuant to which it has agreed, or
     will agree, to comply with entitlement orders of such person. The
     Securities Intermediary has not entered into any other agreement with the
     Lien Grantor or the Secured Party purporting to limit or condition the
     obligation of the Securities Intermediary to comply with entitlement orders
     as agreed in Section 3 hereof.

     Section 11. SUCCESSORS. This Agreement shall be binding upon, and shall
inure to the benefit of, the parties hereto and their respective successors and
assigns.

     Section 12. NOTICES. Each notice, request or other communication given to
any party hereunder shall be in writing (which term includes facsimile or other
electronic transmission) and shall be effective (i) when delivered to such party
at its address specified below, (ii) when sent to such party by facsimile or
other electronic transmission, addressed to it at its facsimile number or
electronic address specified below, and such party sends back an electronic
confirmation of receipt or (iii) ten days after being sent to such party by
certified or registered United States mail, addressed to it at its address
specified below, with first class or airmail postage prepaid:

     Lien Grantor:

     Secured Party:

     Securities Intermediary:

Any party may change its address, facsimile number and/or e-mail address for
purposes of this Section by giving notice of such change to the other parties in
the manner specified above.

     Section 13. TERMINATION. The rights and powers granted herein to the
Secured Party (i) have been granted in order to perfect the Transaction Lien,
(ii)

                                       G-5
<Page>

are powers coupled with an interest and (iii) will not, except as required
by law, be affected by any bankruptcy of the Lien Grantor or any lapse of time.
The obligations of the Securities Intermediary hereunder shall continue in
effect until the Secured Party has notified the Securities Intermediary in
writing that the Transaction Lien has been terminated pursuant to the terms of
the Security Agreement.

                                          [NAME OF LIEN GRANTOR]

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                          JPMORGAN CHASE BANK,
                                             as Collateral Agent

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                          [NAME OF SECURITIES INTERMEDIARY]

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                       G-6
<Page>

                                                                       EXHIBIT A

                          [Letterhead of Secured Party]

                                     [Date]

[Name and Address of Securities Intermediary]

Attention: ________________________

          Re:  NOTICE OF EXCLUSIVE CONTROL

Ladies and Gentlemen:

     As referenced in the Securities Account Control Agreement dated as of
______, ____ among [name of Lien Grantor], us and you (a copy of which is
attached), we notify you that we will hereafter exercise exclusive control over
securities account number __________ (the "ACCOUNT"), all financial assets from
time to time credited thereto and all security entitlements in respect thereof.
You are instructed not to accept any directions, instructions or entitlement
orders with respect to the Account or the financial assets credited thereto from
any person other than the undersigned unless otherwise ordered by a court of
competent jurisdiction.

     You are instructed to deliver a copy of this notice by facsimile
transmission to [name of Lien Grantor].

                                   Very truly yours,

                                          JPMORGAN CHASE BANK,
                                          as Collateral Agent

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

cc: [name of Lien Grantor]

                                       G-7
<Page>

                                                                       EXHIBIT B

                              PERMITTED INVESTMENTS

                                       G-8

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