Document:

EX-10.41

Exhibit 10.41

JOINDER AGREEMENT

Dated July 16, 2008

Reference is made to the Credit Agreement, dated as of July 6, 2007 (as amended, amended and
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among NOVELIS INC., a corporation formed under the Canada Business Corporations Act, NOVELIS
CORPORATION, a Texas corporation, AV ALUMINUM INC., a corporation formed under the Canada Business
Corporations Act, the Subsidiary Guarantors (such term and each other capitalized term used but not
defined herein having the meaning given to it in the Credit Agreement), the Lenders, UBS AG,
STAMFORD BRANCH, as administrative agent for the Lenders, UBS AG, STAMFORD BRANCH, as collateral
agent for the Secured Parties, the other agents party thereto, and ABN AMRO INCORPORATED and UBS
SECURITIES LLC, as joint lead arrangers and joint bookmanagers.

WITNESSETH:

WHEREAS, the Guarantors have entered into the Credit Agreement and the applicable Security
Documents in order to induce the Lenders to make the Loans to or for the benefit of the
Borrowers;

WHEREAS, pursuant to Section 5.11(b) of the Credit Agreement, certain Subsidiaries are required to
become Guarantors under the Credit Agreement by executing a Joinder Agreement. The undersigned
Subsidiary (the “New Guarantor”) is executing this joinder agreement (“Joinder
Agreement”) to the Credit Agreement and as consideration for the Loans previously made by the
Lenders and as consideration for the other agreements of the Lenders and the Agents under the Loan
Documents and as consideration for other good and valid consideration the receipt and sufficiency
of which is hereby acknowledged.

NOW, THEREFORE, the Administrative Agent, Collateral Agent and the New Guarantor hereby agree as
follows:

1. Guarantee. In accordance with Section 5.1l(b) of the Credit Agreement, the New Guarantor by
its signature below becomes a Guarantor under the Credit Agreement with the same force and effect
as if
originally named therein as a Guarantor.

2. Representations and Warranties. The New Guarantor hereby (a) agrees to all the terms and
provisions of the Credit Agreement applicable to it as a Guarantor thereunder and (b) represents
and
warrants that the representations and warranties made by it as a Guarantor thereunder are true and
correct
in all material respects (except that any representation and warranty that is qualified as to
“materiality” or
“Material Adverse Effect” shall be true and correct in all respects) on and as of the date hereof,
except to
the extent such representations and warranties expressly relate to an earlier date, in which case
such
representation and warranty shall have been true and correct in all material respects (or, in the
case of any
representation and warranty that is qualified as to “materiality” or “Material Adverse Effect”,
true and
correct in all respects) as of such earlier date. Each reference to a Guarantor in the Credit
Agreement
shall be deemed to include the New Guarantor. The New Guarantor hereby attaches supplements to each
of the schedules to the Credit Agreement and the Perfection Certificates applicable to it.

3. Severability. Any provision of this Joinder Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any
other jurisdiction.

 

 

4. Counterparts. This Joinder Agreement may be executed in counterparts, each of which shall
constitute an original. Delivery of an executed signature page to this Joinder Agreement by
facsimile
transmission shall be as effective as delivery of a manually executed counterpart of this Joinder
Agreement.

5. No Waiver. Except as expressly supplemented hereby, the Credit Agreement shall remain in full
force and effect.

6. Notices. All notices, requests and demands to or upon the New Guarantor, any Agent or any
Lender shall be governed by the terms of Section 11.01 of the Credit Agreement.

7. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.

[Signature Pages Follow]

 

 

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

	 	 	 	 	 
	 	NOVELIS SERVICES LIMITED

 	 
	 	By:  	/s/ P. Illy	 
	 	 	Name:  	P. Illy	 
	 	 	Title:  

	Secretary	 
	 	
Address for Notices:
 	 
	 
	 	UBS AG, Stamford Branch,

as Administrative Agent and as Collateral Agent

 	 
	 	By:  	/s/ Mary E. Evans`
 	 
	 	 	Name:  	Mary E. Evans 	 
	 	 	Title:  	Associate Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ David B. Julie
 	 
	 	 	Name:  	David B. Julie 	 
	 	 	Title:  	Associate Director 	 

 

 

	 	 	 	 	 

Schedule 1.01(b)

 Subsidiary Guarantors

	•	 	Novelist Services Limited

 

 

Schedule 1.01(c) 

Excluded Collateral Subsidiaries

N/A

 

 

Schedule 3.06(c)

 Violations or Proceedings

N/A

 

 

Schedule 3.19

Insurance

1) Property Insurance Summary

“ALL RISK” PROPERTY DAMAGE, MACHINERY BREAKDOWN & BUSINESS INTERRUPTION INSURANCE
COVERAGE

July 1, 2007 — July 1, 2008

NAMED INSURED:

	 	•	 	Novelis Inc. and/or its affiliated, subsidiary and associated companies and/or
corporations and the
Insured’s interest in partnerships and joint ventures as now exist or may hereafter be constituted
or acquired and any party in interest which the Insured is responsible to insure.
	 
	 	•	 	Including the Insured’s interest in the following joint ventures:

	 	•	 	Logan Aluminum Inc.
	 
	 	•	 	Aluminium Norf GmbH (to be insured 100%)

PERIOD OF INSURANCE:

From July 1, 2007, to July 1, 2008

Both Dates at 12:01 am standard time at the place where the Property Insured is located.

COVERAGE DETAILS:

Property Insured

All real and personal property of every kind, nature and description except as may hereafter be
excluded including but not limited to:

	 	•	 	All property in which the Insured has an insurable interest including but not limited
to property owned, used, leased or intended for use by the Insured, or hereafter constructed, erected,
installed, or acquired. In the event of loss or damage, the Insurers agree to accept and consider the
Insured as sole and unconditional owner of improvements and betterments, notwithstanding any
contract or leases to the contrary.
	 
	 	•	 	All property of others in the Insured’s care, custody and control and/or for which the
Insured may be legally liable and/or under an obligation and/or has assumed responsibility to provide
insurance.
	 
	 	•	 	All property which is required to be specifically insured by reason of any statute.

 

 

Perils Covered

	 	•	 	All Perils of direct physical loss or damage including Machinery Breakdown and Business
Interruption, to the Property Insured by any cause whatsoever including Earthquake, Windstorm,
and Flood.

LIMITS OF LIABILITY:

U.S. $750,000,000 EACH OCCURRENCE

	 	•	 	Combined for Property Damage, including Machinery Breakdown and Business Interruption
excess of the DEDUCTIBLE LEVELS and subject to the following ground-up sub-limits,
where applicable, as described below:

GROUND-UP PROGRAM SUB-LIMITS

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Contingent Business
Interruption and
Contingent Extra
Expense (Direct
Suppliers and/or
Customers)

	 	$	200,000,000	 	 	each and every occurrence for BI.
except,
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence
combined for PD & BI from
interruption emanating from
earthquake in the New Madrid
zone.
	 
	 	 	 	 	 	 
	Course of Construction

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI including
Advance loss of Profits.
	 
	 	 	 	 	 	 
	Debris Removal

	 	$	 50,000,000	 	 	each and every occurrence for PD
or 25% of the loss, whichever is
greater.
	 
	 	 	 	 	 	 
	Decontamination Expenses

	 	$	 50,000,000	 	 	each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Defense Costs

	 	$	 5,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Demolition and
Increased Cost of
Construction

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Earthquake

	 	$	750,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate, except

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Chile.
	 
	 	 	 	 	 	 
	 

	 	$	300,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for China.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Columbia.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Guam.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Indonesia.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Israel.
	 
	 	 	 	 	 	 
	 

	 	$	300,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Mexico.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Peru.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Portugal.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Taiwan.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Venezuela.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	combined for PD & BI and in the
annual aggregate for Turkey
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for California. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Japan. This sub-limit
applies on a cumulative basis for
all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD &d BI and in the annual
aggregate for New Zealand. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for New Madrid (sub-limit
does not apply to the Logan
facility).
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Pacific Northwest.
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Philippines.
	 
	 	 	 	 	 	 
	Extra / Expediting Expenses

	 	$	200,000,000	 	 	combined each and every occurrence
for PD & BI.
	 
	 	 	 	 	 	 
	Fine Arts

	 	$	 25,000,000	 	 	each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Fire Fighting Expenses
Including Cost of
Extinguishing Materials

	 	$	 25,000,000	 	 	each and every occurrence for PD.

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Flood

	 	$	750,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate except,
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate for properties
situated in a 100 year
floodplain.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate for flood in
the Netherlands.
	 
	 	 	 	 	 	 
	Interruption By Civil or Military 

Authority

	 	$	100,000,000	 	 	each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.
	 
	 	 	 	 	 	 
	Interruption of Ingress and/or Egress

	 	$	100,000,000	 	 	each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD and BI.
	 
	 	 	 	 	 	 
	Impounded Water Land and Water
Contaminant or Pollutant Cleanup,
Removal and Disposal

	 	$	100,000	 	 	each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Leasehold Interest

	 	$	100,000,000	 	 	each and every occurrence for BI.
	 
	 	 	 	 	 	 
	Neighbour’s Recourse Liability

	 	$	 15,000,000	 	 	each and every occurrence
combined for PD&BI.
	 
	 	 	 	 	 	 
	Newly Acquired Location

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Non-Admitted Tax Liability

	 	$	150,000,000	 	 	each and every occurrence.
	 
	 	 	 	 	 	 
	Pot Line Freeze Up

	 	$	100,000,000	 	 	each and every occurrence
combined for PD and BI.
	 
	 	 	 	 	 	 
	Research & Development

	 	$	 25,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Recapture of Investment Incentives

	 	$	 50,000,000	 	 	each and every occurrence.
	 
	 	 	 	 	 	 
	Royalties

	 	$	 10,000,000	 	 	each and every occurrence

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Service Interruption

	 	$	200,000,000	 	 	each and every
occurrence combined
for PD & BI, except
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every
occurrence combined
for PD & BI from
interruption
emanating from
earthquake in the
New Madrid zone.
	 
	 	 	 	 	 	 
	Transit

	 	$	 25,000,000	 	 	each and every
occurrence combined
for PD & BI.
	 
	 	 	 	 	 	 
	Transmission and Distribution Lines

	 	$	 10,000,000	 	 	each and every
occurrence combined
for direct loss
causing PD &BI.
	 
	 	 	 	 	 	 
	Unnamed Location

	 	$	100,000,000	 	 	each and every
occurrence combined
for PD & BI.

DEDUCTIBLE LEVELS:

          $2,500,000 each and every occurrence combined for Property Damage, Business
Interruption and Machinery Breakdown coverage for locations with insurable values
exceeding US $100,000,000.

          $1,000,000 each and every occurrence combined for Property Damage, Business
Interruption and Machinery Breakdown coverage for locations with insurable values
equal to or less than US $100,000,000.

BASIS OF VALUATION

Replacement cost and as further stipulated within the attached policy
wording.

DIFFERENCE IN CONDITIONS

Master Policy provides coverage where conditions of the locally integrated and/or
non-integrated policies differ from the Master Policy and specifically where the conditions of
the Master Policy are broader.

DIFFERENCE IN LIMITS

Master Policy provides coverage where the difference between the limits of liability stated in
any locally integrated and/or non-integrated policies are less than the Master Policy.

TERRITORY

Worldwide except no coverage will be provided in the following countries:

 

 

Afghanistan, Albania, Algeria, Angola, Armenia, Azerbaijan, Bosnia and Herzegovina, Cambodia, Chad,
Congo, Cuba, Chechnya, Georgia, Iraq, Iran, Kyrgyszstan, Laos, Lebanon, Liberia, Montenegro,
Nigeria, North Korea, Pakistan, Serbia, Somalia, Syria, Tajikhistan, Tchechnia, Turkmenistan,
Uzbekistan, Yugoslavia and Zaire.

EXCLUSIONS:

	 	•	 	MARINE EXPORT SHIPMENTS
	 
	 	•	 	MARINE IMPORT SHIPMENTS
	 
	 	•	 	AIRCRAFT/WATERCRAFT
	 
	 	•	 	LAND/WATER
	 
	 	•	 	LABOUR DISTURBANCES
	 
	 	•	 	WAR / NUCLEAR DEVICE / REBELLION / SEIZURE BY PUBLIC
	 
	 	•	 	AUTHORITY / CONTRABAND OR ILLEGAL TRADE
	 
	 	•	 	NUCLEAR
	 
	 	•	 	FRAUD
	 
	 	•	 	WEAR AND TEAR
	 
	 	•	 	CROPS or STANDING TIMBER
	 
	 	•	 	CURRENCY / PREVIOUS METALS
	 
	 	•	 	OFFSHORE PROPERTY
	 
	 	•	 	VEHICLES
	 
	 	•	 	MYSTERIOUS DISAPPEARANCE
	 
	 	•	 	CHANGES IN TEMPERATURE
	 
	 	•	 	PROPERTY SOLD
	 
	 	•	 	UNDERGROUND MINES
	 
	 	•	 	satellites / spacecraft
	 
	 	•	 	manufacturing or processing errors
	 
	 	•	 	errors in design
	 
	 	•	 	cost of making good defective design or specifications
	 
	 	•	 	errors in processing / manufacturing product
	 
	 	•	 	settling, cracking, shrinkage
	 
	 	•	 	remote loss / delay or loss of market
	 
	 	•	 	VERMIN, INSECTS or animals
	 
	 	•	 	LOCAL, STATE OR NATIONAL GOVERNMENT CATASTROPHE POOLS
	 
	 	•	 	POLLUTION
	 
	 	•	 	FINES / PENALTIES
	 
	 	•	 	10 YEAR FLOOD PLAIN (based on the renewal schedule of locations there are currently no
locations situated in a 10 year flood plain)
	 
	 	•	 	MICRO ORGANISM
	 
	 	•	 	BIOLOGICAL / CHEMICAL MATERIALS

CANCELLATION:

Insurance may be cancelled by the insurer by mailing at least 90 days’ prior written notice to the
Named Insured, except for non-payment of premium, which is 15 days by written notice.

CURRENCY:

U.S. DOLLARS

 

 

ENDORSEMENTS:

	 	•	 	Electronic Date Recognition Clarification Clause
	 
	 	•	 	Computer Virus Clause
	 
	 	•	 	War and Terrorism Exclusion Endorsement
	 
	 	•	 	Asbestos Exclusion Endorsement

2) Liability Insurance Summary

Summary of Insurance — Comprehensive General Liability

	 	 	 
	Insured:
	 	Novelis Inc.

	 	 	 

	Insurer:
	 	Zurich Insurance Company

	 	 	 

	Primary Policy Number:
	 	LA 37’940B

	 	 	 

	Policy Period:
	 	April 1, 2007, to April 1, 2008

	 	 	 

	Limits Of Liability:
	 	US $75,000,000 per claim made for all insured
losses combined, including loss expense,
subject to an annual aggregate of US
$150,000,000 for all claims made within one
insurance year irrespective of whether the
claims are attributable to one or more than
one occurrence.

	 	 	 

	 	 	Sub-Limits for Additional Coverages

	 	 	 

	 	 	US $75,000,000 per claim made and in the
aggregate per insurance year for the following
Additional Coverages combined:

	 	 	a)      Personal Injury Liability

	 	 	b)      Advertiser’s Liability

	 	 	c)      Employer’s Liability

	 	 	d)      Employee Benefits Liability

	 	 	e)      Loss of Use

	 	 	f)      Pure financial loss

	 	 	g)      Additional Coverage for Motor Vehicles

 

 

	 	 	 
	 	 	The Indemnity of Zurich is limited to:

	 	 	 

	 	 	a)      US $50,000,000 per claim made and in the aggregate per
insurance year for Product Recall Costs, and included in
this sub-limit US $15,000,000 per claim made and in the
aggregate per insurance year for Product Recall costs in
the case of insured entities that maintain no certified
quality management system under recognised standards (e.g.
ISO 9001, et seq.);

	 	 	 

	 	 	b)      US $25,000,000 per claim made and in the aggregate per
insurance year for Dismantling and Assembly Expenses;

	 	 	 

	 	 	c)      For Special Coverages according to (a) and (b) above,
the maximum limit of indemnity per claim made and in the
aggregate per insurance year remains US $50,000,000;

	 	 	 

	 	 	d)      US $400,000 per claim made and US $4,000,000 in the
aggregate per insurance year for Legal Protection in
criminal Proceedings;

	 	 	 

	 	 	e)      US $4,000,000 per claim made and in the aggregate per
insurance year for claims in respect of losses relating to
Contingent Watercraft.

	 	 	 

	Deductibles:
	 	The deductibles per claim made are as follows:

	 	 	 

	 	 	General Deductible for entities in Canada

	 	 	CAD $25,000 for Product Liability

	 	 	CAD $25,000 for other
losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Germany

	 	 	EUR 50,000 for Product Liability

	 	 	In connection with the local environmental industrial
liability insurance per insurance case 10% but a minimum of
EUR 50,000 and a maximum of EUR 500,000

	 	 	EUR 4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Italy

	 	 	EUR 50,000

	 	 	 

	 	 	South Korea

	 	 	US $20,000

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Switzerland

	 	 	CHF 30,000 for Product Liability

	 	 	CHF 6,000 for other losses

	 	 	No deductible for bodily injury claims

 

 

	 	 	 
	 	 	United Kingdom

	 	 	GBP 10,000 for Product Liability

	 	 	GBP 2,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	United States of America (USA)

	 	 	US $1,000,000 for losses which occur and/or
are litigated in the USA only

	 	 	US $25,000 for other losses

	 	 	 

	 	 	Belgium, France, Spain

	 	 	EUR 20,000 for Product Liability

	 	 	EUR 4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Other Countries

	 	 	US $20,000 for Product Liability

	 	 	US $4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Difference in Limits Coverage

	 	 	No deductible is applicable to Difference in
Limits Coverage

	 	 	 

	 	 	Deductible for Special
Coverages

	 	 	Notwithstanding the other deductibles
mentioned above, the deductibles for the
Special Coverages amount to:

	 	 	US $1,000,000 in respect of Novelis Inc. and
its subsidiaries for claims which are made
and/or are litigated in the USA only

	 	 	US
$810,000 for other losses / entities

	 	 	Novelis Inc. participates in the Program with
an annual program deductible of US $950,000
per claim made in excess of the applicable
deductible(s) with an annual aggregate of
US $2,000,000.

	 	 	 

	Territorial Limits:
	 	Worldwide

	 	 	 

	Coverage:
	 	The policy covers legal liability arising out
of the companies and their activities, in
respect of business premises, property,
operations and product liability risks for
bodily injury and property damage.

 

 

	 	 	 
	Insuring and
Defense Agreement:
	 	The coverage provided by Zurich consists of the indemnity for
justified insured claims and of any loss expense, including
defense costs, against both justified and unjustified insured
claims. Payments under these coverages will be made by Zurich,
on behalf of the insureds. They will include but not be
restricted to:

	 	 	 

	 	 	a)      Interest on damages;

	 	 	b)      Premiums on bonds to release attachments for an amount not
in excess of the limit of indemnity of this contract as well as
all premiums on appeal bonds required in any above defended
claim;

	 	 	c)      Loss reduction expenses;

	 	 	d)      Cost of experts, lawyers, court, arbitration and mediation
expenses

	 	 	e)      Litigation costs of an opposing party;

	 	 	f)      Loss prevention expenses,

	 	 	And will be limited by the limit of indemnity of this contract.

	 	 	 

	Principal Extensions:
	 	Comprehensive General Liability Manuscript Policy Form which
includes:

	 	 	 

	 	 	•        Additional coverage for Motor Vehicles — limited to the
Limit of Indemnity and applies excess of the greater of US
$2,000,000 or the limit of indemnity of the locally existing
basic motor vehicle coverage;

	 	 	•        Advertisers’ Liability;

	 	 	•        Agreed Waiver of Liability;

	 	 	•        Assumption of Legal Third-Party Liability;

	 	 	•        Condominium Owners;

	 	 	•        Cross Liability;

	 	 	•        Damage to Property in the Custody of or Worked Upon by the
Insured;

	 	 	•        Effects of Ionizing Radiation;

	 	 	•        Employee Benefits Liability;

	 	 	•        Employer’s Liability — limited to the Limit of Indemnity and
applies excess of:

	 	 	•        US $100,000 for the USA

	 	 	•        CDN $1,000,000 for other countries

	 	 	•        Extension of the Statutory Time-Limits;

	 	 	•        Fault on the Part of Independent Contractors;

	 	 	•        Identification or Elimination of Defects and Damage;

	 	 	•        Insured Ancillary Risks;

	 	 	•        Joint Ventures;

	 	 	•        Leased Telecommunications Installations;

	 	 	•        Leasehold Property;

	 	 	•        Legal liability arising from the granting of licenses
conferring rights in respect of intangible goods;

	 	 	•        Legal Protection in Criminal Proceedings;

	 	 	•        Loss of Use;

	 	 	•        Loss during Loading and Unloading;

 

 

	 	 	 
	 	 	•        Losses Incurred in Mixing, Combining and Further Processing;

	 	 	•        Losses Relating to Environmental Damage Caused by Installations
for the Storage, Treatment or Disposal of Waste or Waste Products;

	 	 	•        Machinery Clause;

	 	 	•        Non Owned Aviation Liability / Airport Premises — limited to the
Limit of Indemnity and applies excess of CDN $5,000,000;

	 	 	•        Objection of Late Complaints;

	 	 	•        Personal Injury Liability;

	 	 	•        Personal Liability;

	 	 	•        Pure Financial Loss;

	 	 	•        Railroad Branch Lines and Sidetracks and Related Installations
and Rolling Stock;

	 	 	•        Real Estate and Installations not Used for Business Purposes;

	 	 	•        Use of Public Highways for Internal Works Traffic.

	 	 	 

	Special Coverages:
	 	Special coverages shall mean the following additional
coverages:

	 	 	 

	 	 	•        Dismantling and assembly expenses;

	 	 	•        Product recall costs;

	 	 	•        Loss prevention expenses;

	 	 	•        Testing and sorting costs.

	 	 	 

	Principal Exclusions:
	 	The policy excludes the following:

	 	 	 

	 	 	•        Own Damages;

	 	 	•        Bodily injury to employees;

	 	 	•        Employment-related practices;

	 	 	•        Workers’ Compensation and Occupational Disease;

	 	 	•        Charterers’ Liability;

	 	 	•        Damage to property in the custody of or worked upon by the
Insured;

	 	 	•        Radioactivity;

	 	 	•        Civil War;

	 	 	•        Special Substances and Risks;

	 	 	•        Intentional Act;

	 	 	•        Terrorism in the USA;

	 	 	•        Losses relating to environmental damage except for (1)
consequences of a sudden event (2) losses relating to environmental
damage caused by installations for composting or short-term storage on
waste products or purification of waste water.

 

 

Schedule 3.24 

 Location of Material Inventory

N/A

Locations of Collateral in Possession of Persons Other Than Any Loan Party

N/A

 

 

Schedule 6.01(b)

 Existing Indebtedness

None

Unpaid Intercompany transfers of goods:

None

 

 

Schedule 6.02(c)

 Existing Liens

None

 

 

Schedule 6.04(b)

 Existing Investments

None

Unpaid Intercompany transfers of goods:

None

 

 

Schedule 6.01(b) 

 Existing Indebtedness

None

Unpaid Intercompany transfers of goods:

None

 

 

Schedule 6.02(c)

 Existing Liens

None

 

 

Schedule 6.04(b)

Existing Investments

None

Unpaid Intercompany transfers of goods:

None

 

 

JOINDER AGREEMENT

Dated July 16, 2008

Reference is made to the Credit Agreement, dated as of July 6, 2007 (as amended, amended and
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among NOVELIS INC., a corporation formed under the Canada Business Corporations Act (the
“Canadian Borrower”), NOVELIS CORPORATION, a Texas corporation, and the other U.S.
subsidiaries of the Canadian Borrower signatory thereto as Borrowers, NOVELIS UK LTD, a limited
liability company incorporated under the laws of England and Wales with registered number 00279596,
and NOVELIS AG, a stock corporation (AG) organized under the laws of Switzerland, AV ALUMINUM INC.,
a corporation formed under the Canada Business Corporations Act, the Subsidiary Guarantors (such
term and each other capitalized term used but not defined herein having the meaning given to it in
the Credit Agreement), the Lenders, ABN AMRO BANK N.V., as U.S./European issuing bank, as U.S.
swingline lender, as administrative agent for the Lenders, LASALLE BUSINESS CREDIT, LLC, as funding
agent and as collateral agent for the Secured Parties and the Issuing Bank, UBS SECURITIES LLC, as
syndication agent, BANK OF AMERICA, N.A., NATIONAL CITY BUSINESS CREDIT, INC. and CIT BUSINESS
CREDIT CANADA INC., as documentation agents, ABN AMRO BANK N.V., acting through its Canadian branch,
as Canadian administrative agent, Canadian funding agent and Canadian issuing bank and ABN AMRO
INCORPORATED and UBS SECURITIES LLC, as joint lead arrangers and joint bookmanagers.

WITNESSETH:

WHEREAS, the Guarantors have entered into the Credit Agreement and the applicable Security
Documents in order to induce the Lenders to make the Loans and the Issuing Banks to issue Letters
of Credit to or for the benefit of the Borrowers;

WHEREAS, pursuant to Section 5.11(b) of the Credit Agreement, certain Subsidiaries are required to
become Guarantors under the Credit Agreement by executing a Joinder Agreement. The undersigned
Subsidiary (the “New Guarantor”) is executing this joinder agreement (“Joinder
Agreement”) to the Credit Agreement in order to induce the Lenders to make additional Loans and
the Issuing Banks to issue Letters of Credit and as consideration for the Loans previously made by
the Lenders and Letters of Credit previously issued by the Issuing Banks and as consideration for
the other agreements of the Lenders and the Agents under the Loan Documents.

NOW, THEREFORE, the Funding Agent, Collateral Agent and the New Guarantor hereby agree as
follows:

1. Guarantee. In accordance with Section 5.11(b) of the Credit Agreement, the New Guarantor by
its signature below becomes a Guarantor under the Credit Agreement with the same force and effect
as if
originally named therein as a Guarantor.

2. Representations and Warranties. The New Guarantor hereby (a) agrees to all the terms and
provisions of the Credit Agreement applicable to it as a Guarantor thereunder and (b) represents
and
warrants that the representations and warranties made by it as a Guarantor thereunder are true and
correct
in all material respects (except that any representation and warranty that is qualified as to
“materiality” or
“Material Adverse Effect” shall be true and correct in all respects) on and as of the date hereof,
except to
the extent such representations and warranties expressly relate to an earlier date, in which case
such
representation and warranty shall have been true and correct in all material respects (or, in the
case of any
representation and warranty that is qualified as to “materiality” or “Material Adverse Effect”,
true and
correct in all respects) as of such earlier date. Each reference to a Guarantor in the Credit
Agreement

 

 

shall be deemed to include the New Guarantor. The New Guarantor hereby attaches supplements to
each of the schedules to the Credit Agreement and the Perfection Certificates applicable to it.

3. Severability. Any provision of this Joinder Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any
other jurisdiction.

4. Counterparts. This Joinder Agreement may be executed in counterparts, each of which shall
constitute an original. Delivery of an executed signature page to this Joinder Agreement by
facsimile
transmission shall be as effective as delivery of a manually executed counterpart of this Joinder
Agreement.

5. No Waiver. Except as expressly supplemented hereby, the Credit Agreement shall remain in full
force and effect.

6. Notices. All notices, requests and demands to or upon the New Guarantor, any Agent or any
Lender shall be governed by the terms of Section 11.01 of the Credit Agreement.

7. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.

[Signature Pages Follow]

 

 

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

	 	 	 	 	 
	 	NOVELIS SERVICES LIMITED

 	 
	 	By:  	/s/ P. Illy 	 
	 	 	Name:  	P. Illy 	 
	 	 	Title:  	Secretary 	 
	 	

Address for Notices:

 	 
	 
	 	LASALLE BUSINESS CREDIT, LLC, as Funding

Agent and as Collateral Agent

 	 
	 	By:  	/s/ Peter M. Walther 	 
	 	 	Name:  	Peter M. Walther 	 
	 	 	Title:  	First Vice President

 	 
	 	

Address for Notices:

LaSalle Business Credit, LLC
 135
South LaSalle Street, Suite 425

Chicago, Illinois 60603 
Attention:
Steven Friedlander

 	 

 

 

	 	 	 	 	 

[Note: Schedules to be attached.]

 

 

Perils Covered

	 	•	 	All Perils of direct physical loss or damage including Machinery Breakdown and Business
Interruption, to the Property Insured by any cause whatsoever including Earthquake, Windstorm,
and Flood.

LIMITS OF LIABILITY:

U.S. $750,000,000 EACH OCCURRENCE

	 	•	 	Combined for Property Damage, including Machinery Breakdown and Business Interruption
excess of the DEDUCTIBLE LEVELS and subject to the following ground-up sub-limits,
where
applicable, as described below:

GROUND-UP PROGRAM SUB-LIMITS

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Contingent Business
Interruption and

Contingent Extra
Expense 
(Direct
Suppliers and/or
Customers)

	 	$	200,000,000	 	 	each and every occurrence for BI.
except,
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence
combined for PD & BI from
interruption emanating from
earthquake in the New Madrid
zone.
	 
	 	 	 	 	 	 
	Course of Construction

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI including
Advance loss of Profits.
	 
	 	 	 	 	 	 
	Debris Removal

	 	$	 50,000,000	 	 	each and every occurrence for PD
or 25% of the loss, whichever is
greater.
	 
	 	 	 	 	 	 
	Decontamination Expenses

	 	$	 50,000,000	 	 	each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Defense Costs

	 	$	 5,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Demolition and
Increased Cost of
Construction

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Earthquake

	 	$	750,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate, except

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Chile.
	 
	 	 	 	 	 	 
	 

	 	$	300,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for China.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Columbia.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Guam.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Indonesia.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Israel.
	 
	 	 	 	 	 	 
	 

	 	$	300,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Mexico.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Peru.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Portugal.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Taiwan.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence combined for PD & BI
and in the annual aggregate for Venezuela.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	combined for PD & BI and in the
annual aggregate for Turkey
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for California. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Japan. This sub-limit
applies on a cumulative basis for
all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	25,000,000	 	 	each and every occurrence combined
for PD &d BI and in the annual
aggregate for New Zealand. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for New Madrid (sub-limit
does not apply to the Logan
facility).
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Pacific Northwest.
	 
	 	 	 	 	 	 
	 

	 	$	50,000,000	 	 	each and every occurrence combined
for PD & BI and in the annual
aggregate for Philippines.
	 
	 	 	 	 	 	 
	Extra / Expediting Expenses

	 	$	200,000,000	 	 	combined each and every occurrence
for PD & BI.
	 
	 	 	 	 	 	 
	Fine Arts

	 	$	 25,000,000	 	 	each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Fire Fighting Expenses
Including Cost of
Extinguishing Materials

	 	$	 25,000,000	 	 	each and every occurrence for PD.

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Flood

	 	$	750,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate except,
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate for properties
situated in a 100 year
floodplain.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI and in the
annual aggregate for flood in
the Netherlands.
	 
	 	 	 	 	 	 
	Interruption By Civil or Military 

Authority

	 	$	100,000,000	 	 	each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.
	 
	 	 	 	 	 	 
	Interruption of Ingress and/or Egress

	 	$	100,000,000	 	 	each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.
	 
	 	 	 	 	 	 
	 

	 	$	100,000,000	 	 	each and every occurrence
combined for PD and BI.

	 
	 	 	 	 	 	 
	Impounded Water Land and Water
Contaminant or Pollutant Cleanup,
Removal and Disposal

	 	$	100,000	 	 	
each and every occurrence for PD.
	 
	 	 	 	 	 	 
	Leasehold Interest

	 	$	100,000,000	 	 	each and every occurrence for BI.
	 
	 	 	 	 	 	 
	Neighbour’s Recourse Liability

	 	$	 15,000,000	 	 	each and every occurrence
combined for PD&BI.
	 
	 	 	 	 	 	 
	Newly Acquired Location

	 	$	100,000,000	 	 	each and every occurrence
combined for PD & BI.
	Non-Admitted Tax Liability

	 	$	150,000,000	 	 	each and every occurrence.
	 
	 	 	 	 	 	 
	Pot Line Freeze Up

	 	$	100,000,000	 	 	each and every occurrence
combined for PD and BI.
	 
	 	 	 	 	 	 
	Research & Development

	 	$	 25,000,000	 	 	each and every occurrence
combined for PD & BI.
	 
	 	 	 	 	 	 
	Recapture of Investment Incentives

	 	$	 50,000,000	 	 	each and every occurrence.
	 
	 	 	 	 	 	 
	Royalties

	 	$	 10,000,000	 	 	each and every occurrence

 

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Service Interruption

	 	$	200,000,000	 	 	each and every
occurrence combined
for PD & BI, except
	 

	 	$	25,000,000	 	 	each and every
occurrence combined
for PD & BI from
interruption
emanating from
earthquake in the
New Madrid zone.
	Transit

	 	$	 25,000,000	 	 	each and every
occurrence combined
for PD & BI.
	Transmission and Distribution Lines

	 	$	 10,000,000	 	 	each and every
occurrence combined
for direct loss
causing PD &BI.
	Unnamed Location

	 	$	100,000,000	 	 	each and every
occurrence combined
for PD & BI.

DEDUCTIBLE LEVELS:

          $2,500,000 each and every occurrence combined for Property Damage, Business
Interruption and Machinery Breakdown coverage for locations with insurable values
exceeding US $100,000,000.

          $1,000,000 each and every occurrence combined for Property Damage, Business
Interruption and Machinery Breakdown coverage for locations with insurable values
equal to or less than US $100,000,000.

BASIS OF VALUATION

Replacement cost and as further stipulated within the attached policy
wording.

DIFFERENCE IN CONDITIONS

Master Policy provides coverage where conditions of the locally integrated and/or
non-integrated policies differ from the Master Policy and specifically where the conditions of
the Master Policy are broader.

DIFFERENCE IN LIMITS

Master Policy provides coverage where the difference between the limits of liability stated in
any locally integrated and/or non-integrated policies are less than the Master Policy.

TERRITORY

Worldwide except no coverage will be provided in the following countries:

 

 

Afghanistan, Albania, Algeria, Angola, Armenia, Azerbaijan, Bosnia and Herzegovina, Cambodia, Chad,
Congo, Cuba, Chechnya, Georgia, Iraq, Iran, Kyrgyszstan, Laos, Lebanon, Liberia, Montenegro,
Nigeria, North Korea, Pakistan, Serbia, Somalia, Syria, Tajikhistan, Tchechnia, Turkmenistan,
Uzbekistan, Yugoslavia and Zaire.

EXCLUSIONS:

	 	•	 	MARINE EXPORT SHIPMENTS
	 
	 	•	 	MARINE IMPORT SHIPMENTS
	 
	 	•	 	AIRCRAFT / WATERCRAFT
	 
	 	•	 	LAND / WATER
	 
	 	•	 	LABOUR DISTURBANCES
	 
	 	•	 	WAR / NUCLEAR DEVICE / REBELLION / SEIZURE BY PUBLIC
	 
	 	•	 	AUTHORITY / CONTRABAND OR ILLEGAL TRADE
	 
	 	•	 	NUCLEAR
	 
	 	•	 	FRAUD
	 
	 	•	 	WEAR AND TEAR
	 
	 	•	 	CROPS or STANDING TIMBER
	 
	 	•	 	CURRENCY / PREVIOUS METALS
	 
	 	•	 	OFFSHORE PROPERTY
	 
	 	•	 	VEHICLES
	 
	 	•	 	MYSTERIOUS DISAPPEARANCE
	 
	 	•	 	CHANGES IN TEMPERATURE
	 
	 	•	 	PROPERTY SOLD
	 
	 	•	 	UNDERGROUND MINES
	 
	 	•	 	satellites / spacecraft
	 
	 	•	 	manufacturing or processing errors
	 
	 	•	 	errors in design
	 
	 	•	 	cost of making good defective design or specifications
	 
	 	•	 	errors in processing / manufacturing product
	 
	 	•	 	settling, cracking, shrinkage
	 
	 	•	 	remote loss / delay or loss of market
	 
	 	•	 	VERMIN, INSECTS or animals
	 
	 	•	 	LOCAL, STATE OR NATIONAL GOVERNMENT CATASTROPHE POOLS
	 
	 	•	 	POLLUTION
	 
	 	•	 	FINES /PENALTIES
	 
	 	•	 	10 YEAR FLOOD PLAIN (based on the renewal schedule of locations there are currently no
locations situated in a 10 year flood plain)
	 
	 	•	 	MICRO ORGANISM
	 
	 	•	 	BIOLOGICAL / CHEMICAL MATERIALS

CANCELLATION:

Insurance may be cancelled by the insurer by mailing at least 90 days’ prior written notice to the
Named Insured, except for non-payment of premium, which is 15 days by written notice.

CURRENCY:

U.S. DOLLARS

 

 

ENDORSEMENTS:

	 	•	 	Electronic Date Recognition Clarification Clause
	 
	 	•	 	Computer Virus Clause
	 
	 	•	 	War and Terrorism Exclusion Endorsement
	 
	 	•	 	Asbestos Exclusion Endorsement

21 Liability Insurance Summary

Summary of Insurance — Comprehensive General Liability

	 	 	 
	Insured:
	 	Novelis Inc.

	 	 	 

	Insurer:
	 	Zurich Insurance Company

	 	 	 

	Primary Policy Number:
	 	LA 37’940B

	 	 	 

	Policy Period:
	 	April 1, 2007, to April 1, 2008

	 	 	 

	Limits Of Liability:
	 	US $75,000,000 per claim made for all insured
losses combined, including loss expense,
subject to an annual aggregate of US
$150,000,000 for all claims made within one
insurance year irrespective of whether the
claims are attributable to one or more than one
occurrence.

	 	 	 

	 	 	Sub-Limits for Additional Coverages

	 	 	 

	 	 	US $75,000,000 per claim made and in the
aggregate per insurance year for the following
Additional Coverages combined:

	 	 	a)      Personal Injury Liability

	 	 	b)      Advertiser’s Liability

	 	 	c)      Employer’s Liability

	 	 	d)      Employee Benefits Liability

	 	 	e)      Loss of Use

	 	 	f)      Pure financial loss

	 	 	g)      Additional Coverage for Motor Vehicles

 

 

	 	 	 
	 	 	The Indemnity of Zurich is limited to:

	 	 	 

	 	 	a)      US $50,000,000 per claim made and in the aggregate per
insurance year for Product Recall Costs, and included in
this sub-limit US $15,000,000 per claim made and in the
aggregate per insurance year for Product Recall costs in
the case of insured entities that maintain no certified
quality management system under recognised standards (e.g.
ISO 9001, et seq.);

	 	 	 

	 	 	b)      US $25,000,000 per claim made and in the aggregate per
insurance year for Dismantling and Assembly Expenses;

	 	 	 

	 	 	c)      For Special Coverages according to (a) and (b) above,
the maximum limit of indemnity per claim made and in the
aggregate per insurance year remains US $50,000,000;

	 	 	 

	 	 	d)      US $400,000 per claim made and US $4,000,000 in the
aggregate per insurance year for Legal Protection in
criminal Proceedings;

	 	 	 

	 	 	e)      US $4,000,000 per claim made and in the aggregate per
insurance year for claims in respect of losses relating to
Contingent Watercraft.

	 	 	 

	Deductibles:
	 	The deductibles per claim made are as follows:

	 	 	 

	 	 	General Deductible for entities in Canada

	 	 	CAD $25,000 for Product Liability

	 	 	CAD $25,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Germany

	 	 	EUR 50,000 for Product Liability

	 	 	In connection with the local environmental industrial
liability insurance per insurance case 10% but a minimum of EUR 50,000 and a maximum of EUR 500,000

	 	 	EUR 4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Italy

	 	 	EUR 50,000

	 	 	 

	 	 	South Korea

	 	 	US $20,000

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Switzerland

	 	 	CHF 30,000 for Product Liability

	 	 	CHF 6,000 for other losses

	 	 	No deductible for bodily injury claims

 

 

	 	 	 
	 	 	United Kingdom

	 	 	GBP 10,000 for Product Liability

	 	 	GBP 2,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	United States of America (USA)

	 	 	US $1,000,000 for losses which occur and/or are litigated in the

	 	 	USA only

	 	 	US $25,000 for other losses

	 	 	 

	 	 	Belgium, France, Spain

	 	 	EUR 20,000 for Product Liability

	 	 	EUR 4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Other Countries

	 	 	US $20,000 for Product Liability

	 	 	US $4,000 for other losses

	 	 	No deductible for bodily injury claims

	 	 	 

	 	 	Difference in Limits Coverage

	 	 	No deductible is applicable to Difference in Limits Coverage

	 	 	 

	 	 	Deductible for Special Coverages

	 	 	Notwithstanding the other deductibles mentioned above, the
deductibles for the Special Coverages amount to:

	 	 	US $1,000,000 in respect of Novelis Inc. and its subsidiaries for
claims which are made and/or are litigated in the USA only

	 	 	US $810,000 for other losses / entities

	 	 	Novelis Inc. participates in the Program with an annual program
deductible of US $950,000 per claim made in excess of the
applicable deductible(s) with an annual aggregate of US
$2,000,000.

	 	 	 

	Territorial Limits:
	 	Worldwide

	 	 	 

	Coverage:
	 	The policy covers legal liability arising out of the companies and
their activities, in respect of business premises, property,
operations and product liability risks for bodily injury and
property damage.

 

 

	 	 	 
	Insuring and
Defense Agreement:
	 	The coverage provided by Zurich consists of the indemnity for
justified insured claims and of any loss expense, including
defense costs, against both justified and unjustified insured
claims. Payments under these coverages will be made by
Zurich, on behalf of the insureds. They will include but not be
restricted to:

	 	 	 

	 	 	a)      Interest on damages;

	 	 	b)      Premiums on bonds to release attachments for an amount not
in excess of the limit of indemnity of this contract as well as
all premiums on appeal bonds required in any above defended
claim;

	 	 	c)      Loss reduction expenses;

	 	 	d)      Cost of experts, lawyers, court, arbitration and mediation
expenses

	 	 	e)      Litigation costs of an opposing party;

	 	 	f)      Loss prevention expenses,

	 	 	And will be limited by the limit of indemnity of this contract.

	 	 	 

	Principal Extensions:
	 	Comprehensive General Liability Manuscript Policy Form which
includes:

	 	 	 

	 	 	•        Additional coverage for Motor Vehicles — limited to the
Limit of Indemnity and applies excess of the greater of US
$2,000,000 or the limit of indemnity of the locally existing
basic motor vehicle coverage;

	 	 	•        Advertisers’ Liability;

	 	 	•        Agreed Waiver of Liability;

	 	 	•        Assumption of Legal Third-Party Liability;

	 	 	•        Condominium Owners;

	 	 	•        Cross Liability;

	 	 	•        Damage to Property in the Custody of or Worked Upon by the
Insured;

	 	 	•        Effects of Ionizing Radiation;

	 	 	•        Employee Benefits Liability;

	 	 	•        Employer’s Liability — limited to the Limit of Indemnity
and applies excess of:

	 	 	•        US $100,000 for the USA

	 	 	•        CDN $1,000,000 for other countries

	 	 	•        Extension of the Statutory Time-Limits;

	 	 	•        Fault on the Part of Independent Contractors;

	 	 	•        Identification or Elimination of Defects and Damage;

	 	 	•        Insured Ancillary Risks;

	 	 	•        Joint Ventures;

	 	 	•        Leased Telecommunications Installations;

	 	 	•        Leasehold Property;

	 	 	•        Legal liability arising from the granting of licenses
conferring rights in respect of intangible goods;

	 	 	•        Legal Protection in Criminal Proceedings;

	 	 	•        Loss of Use;

	 	 	•        Loss during Loading and Unloading;

 

 

	 	 	 
	 	 	•        Losses Incurred in Mixing, Combining and Further
Processing;

	 	 	•        Losses Relating to Environmental Damage Caused by
Installations for the Storage, Treatment or Disposal of
Waste or Waste Products;

	 	 	•        Machinery Clause;

	 	 	•        Non Owned Aviation Liability / Airport Premises —
limited to the Limit of Indemnity and applies excess of CDN
$5,000,000;

	 	 	•        Objection of Late Complaints;

	 	 	•        Personal Injury Liability;

	 	 	•        Personal Liability;

	 	 	•        Pure Financial Loss;

	 	 	•        Railroad Branch Lines and Sidetracks and Related
Installations and Rolling Stock;

	 	 	•        Real Estate and Installations not Used for Business
Purposes;

	 	 	•        Use of Public Highways for Internal Works Traffic.

	 	 	 

	Special Coverages:
	 	Special coverages shall mean the following
additional coverages:

	 	 	 

	 	 	•        Dismantling and assembly expenses;

	 	 	•        Product recall costs;

	 	 	•        Loss prevention expenses;

	 	 	•        Testing and sorting costs.

	 	 	 

	Principal Exclusions:
	 	The policy excludes the following:

	 	 	 

	 	 	•        Own Damages;

	 	 	•        Bodily injury to employees;

	 	 	•        Employment-related practices;

	 	 	•        Workers’ Compensation and Occupational Disease;

	 	 	•        Charterers’ Liability;

	 	 	•        Damage to property in the custody of or worked upon by
the Insured;

	 	 	•        Radioactivity;

	 	 	•        Civil War;

	 	 	•        Special Substances and Risks;

	 	 	•        Intentional Act;

	 	 	•        Terrorism in the USA;

	 	 	•        Losses relating to environmental damage except for (1)
consequences of a sudden event (2) losses relating to
environmental damage caused by installations for composting
or short-term storage on waste products or purification of
waste water.

 

 

Schedule 3.24

Location of Material Inventory

N/A

Locations of Collateral in Possession of Persons Other Than Any Loan Party

N/A

 

 

Schedule 6.01(b)

Existing Indebtedness

None

Unpaid Intercompany transfers of goods:

None

 

 

Schedule 6.02(c)

Existing Liens

None

 

 

Schedule 6.04(b)

Existing Investments

None

Unpaid Intercompany transfers of goods:

NoneExhibit 4.1

Exhibit
4.1

 

ASSOCIATED MATERIALS, LLC

as Issuer,

THE SUBSIDIARY GUARANTORS

INDENTURE

15% Senior Subordinated Notes due 2012

Dated as of June 26, 2009

DEUTSCHE BANK TRUST COMPANY AMERICAS

as Trustee

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 
	 	 	 	 	 	 
	ARTICLE 1 Definitions and Incorporation by Reference	 	 	1	 
	SECTION 1.01.

	 	Definitions
	 	 	1	 
	SECTION 1.02.

	 	Other Definitions
	 	 	27	 
	SECTION 1.03.

	 	TIA Provisions
	 	 	28	 
	SECTION 1.04.

	 	Rules of Construction
	 	 	28	 
	 
	 	 	 	 	 	 
	ARTICLE 2 The Securities	 	 	29	 
	SECTION 2.01.

	 	Form and Dating
	 	 	29	 
	SECTION 2.02.

	 	Execution and Authentication
	 	 	29	 
	SECTION 2.03.

	 	Registrar and Paying Agent
	 	 	30	 
	SECTION 2.04.

	 	Paying Agent to Hold Money in Trust
	 	 	30	 
	SECTION 2.05.

	 	Securityholder Lists
	 	 	31	 
	SECTION 2.06.

	 	Transfer and Exchange
	 	 	31	 
	SECTION 2.07.

	 	Replacement Securities
	 	 	31	 
	SECTION 2.08.

	 	Outstanding Securities
	 	 	32	 
	SECTION 2.09.

	 	Temporary Securities
	 	 	32	 
	SECTION 2.10.

	 	Cancellation
	 	 	32	 
	SECTION 2.11.

	 	Defaulted Interest
	 	 	33	 
	SECTION 2.12.

	 	CUSIP Numbers
	 	 	33	 
	 
	 	 	 	 	 	 
	ARTICLE 3 Redemption	 	 	33	 
	SECTION 3.01.

	 	Notices to Trustee
	 	 	33	 
	SECTION 3.02.

	 	Selection of Securities To Be Redeemed
	 	 	33	 
	SECTION 3.03.

	 	Notice of Redemption
	 	 	34	 
	SECTION 3.04.

	 	Effect of Notice of Redemption
	 	 	34	 
	SECTION 3.05.

	 	Deposit of Redemption Price
	 	 	34	 
	SECTION 3.06.

	 	Securities Redeemed in Part
	 	 	35	 
	 
	 	 	 	 	 	 
	ARTICLE 4 Covenants	 	 	35	 
	SECTION 4.01.

	 	Payment of Securities
	 	 	35	 
	SECTION 4.02.

	 	SEC Reports
	 	 	35	 
	SECTION 4.03.

	 	Limitations on Indebtedness
	 	 	36	 
	SECTION 4.04.

	 	Limitation on Restricted Payments
	 	 	40	 

 

i

 

Table of Contents 
(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	SECTION 4.05.

	 	Limitation on Restrictions on Distributions from Restricted
Subsidiaries
	 	 	43	 
	SECTION 4.06.

	 	Limitation on Sales of Assets and Subsidiary Stock
	 	 	44	 
	SECTION 4.07.

	 	Limitation on Affiliate Transactions
	 	 	47	 
	SECTION 4.08.

	 	Limitation on the Sale or Issuance of Capital Stock of Restricted
Subsidiaries
	 	 	48	 
	SECTION 4.09.

	 	Change of Control
	 	 	49	 
	SECTION 4.10.

	 	Future Guarantors
	 	 	50	 
	SECTION 4.11.

	 	Compliance Certificate
	 	 	50	 
	SECTION 4.12.

	 	Further Instruments and Acts
	 	 	51	 
	SECTION 4.13.

	 	Dividend Blocker Carveout
	 	 	51	 
	 
	 	 	 	 	 	 
	ARTICLE 5 Successor Company	 	 	51	 
	SECTION 5.01.

	 	When Company May Merge or Transfer Assets
	 	 	51	 
	 
	 	 	 	 	 	 
	ARTICLE 6 Defaults and Remedies	 	 	52	 
	SECTION 6.01.

	 	Events of Default
	 	 	52	 
	SECTION 6.02.

	 	Acceleration
	 	 	54	 
	SECTION 6.03.

	 	Other Remedies
	 	 	55	 
	SECTION 6.04.

	 	Waiver of Past Defaults
	 	 	55	 
	SECTION 6.05.

	 	Control by Majority
	 	 	55	 
	SECTION 6.06.

	 	Limitation on Suits
	 	 	56	 
	SECTION 6.07.

	 	Rights of Holders To Receive Payment
	 	 	56	 
	SECTION 6.08.

	 	Collection Suit by Trustee
	 	 	56	 
	SECTION 6.09.

	 	Trustee May File Proofs of Claim
	 	 	57	 
	SECTION 6.10.

	 	Priorities
	 	 	57	 
	SECTION 6.11.

	 	Undertaking for Costs
	 	 	57	 
	SECTION 6.12.

	 	Waiver of Stay or Extension Laws
	 	 	57	 
	 
	 	 	 	 	 	 
	ARTICLE 7 Trustee	 	 	58	 
	SECTION 7.01.

	 	Duties of Trustee
	 	 	58	 
	SECTION 7.02.

	 	Rights of Trustee
	 	 	59	 
	SECTION 7.03.

	 	Individual Rights of Trustee
	 	 	60	 
	SECTION 7.04.

	 	Trustee’s Disclaimer
	 	 	60	 

 

ii

 

Table of Contents 
(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	SECTION 7.05.

	 	Notice of Defaults
	 	 	60	 
	SECTION 7.06.

	 	Reports by Trustee to Holders
	 	 	61	 
	SECTION 7.07.

	 	Compensation and Indemnity
	 	 	61	 
	SECTION 7.08.

	 	Replacement of Trustee
	 	 	62	 
	SECTION 7.09.

	 	Successor Trustee by Merger
	 	 	62	 
	SECTION 7.10.

	 	Eligibility; Disqualification
	 	 	63	 
	SECTION 7.11.

	 	Preferential Collection of Claims Against Company
	 	 	63	 
	 
	 	 	 	 	 	 
	ARTICLE 8 Discharge of Indenture; Defeasance	 	 	63	 
	SECTION 8.01.

	 	Discharge of Liability on Securities; Defeasance
	 	 	63	 
	SECTION 8.02.

	 	Conditions to Defeasance
	 	 	64	 
	SECTION 8.03.

	 	Application of Trust Money
	 	 	65	 
	SECTION 8.04.

	 	Repayment to Company
	 	 	65	 
	SECTION 8.05.

	 	Indemnity for Government Obligations
	 	 	66	 
	SECTION 8.06.

	 	Reinstatement
	 	 	66	 
	 
	 	 	 	 	 	 
	ARTICLE 9 Amendments	 	 	66	 
	SECTION 9.01.

	 	Without Consent of Holders
	 	 	66	 
	SECTION 9.02.

	 	With Consent of Holders
	 	 	67	 
	SECTION 9.03.

	 	Compliance with Trust Indenture Act
	 	 	68	 
	SECTION 9.04.

	 	Revocation and Effect of Consents and Waivers
	 	 	68	 
	SECTION 9.05.

	 	Notation on or Exchange of Securities
	 	 	68	 
	SECTION 9.06.

	 	Trustee To Sign Amendments
	 	 	69	 
	SECTION 9.07.

	 	Payment for Consent
	 	 	69	 
	 
	 	 	 	 	 	 
	ARTICLE 10 Subordination	 	 	69	 
	SECTION 10.01.

	 	Agreement To Subordinate
	 	 	69	 
	SECTION 10.02.

	 	Liquidation, Dissolution, Bankruptcy
	 	 	69	 
	SECTION 10.03.

	 	Default on Senior Indebtedness of the Company
	 	 	70	 
	SECTION 10.04.

	 	Acceleration of Payment of Securities
	 	 	71	 
	SECTION 10.05.

	 	When Distribution Must Be Paid Over
	 	 	71	 
	SECTION 10.06.

	 	Subrogation
	 	 	71	 
	SECTION 10.07.

	 	Relative Rights
	 	 	72	 

 

iii

 

Table of Contents 
(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	SECTION 10.08.

	 	Subordination May Not Be Impaired by Company
	 	 	72	 
	SECTION 10.09.

	 	Rights of Trustee and Paying Agent
	 	 	72	 
	SECTION 10.10.

	 	Distribution or Notice to Representative
	 	 	72	 
	SECTION 10.11.

	 	Article 10 Not To Prevent Events of Default or Limit Right to
Accelerate
	 	 	72	 
	SECTION 10.12.

	 	Trust Moneys Not Subordinated
	 	 	73	 
	SECTION 10.13.

	 	Trustee Entitled to Rely
	 	 	73	 
	SECTION 10.14.

	 	Trustee To Effectuate Subordination
	 	 	73	 
	SECTION 10.15.

	 	Trustee Not Fiduciary for Holders of Senior Indebtedness of the
Company
	 	 	73	 
	SECTION 10.16.

	 	Reliance by Holders of Senior Indebtedness of the Company on
Subordination Provisions

	 	 	74	 
	 
	 	 	 	 	 	 
	ARTICLE 11 Subsidiary Guaranties	 	 	74	 
	SECTION 11.01.

	 	Guaranties
	 	 	74	 
	SECTION 11.02.

	 	Limitation on Liability
	 	 	76	 
	SECTION 11.03.

	 	Successors and Assigns
	 	 	76	 
	SECTION 11.04.

	 	No Waiver
	 	 	76	 
	SECTION 11.05.

	 	Modification
	 	 	76	 
	SECTION 11.06.

	 	Release of Subsidiary Guarantor
	 	 	76	 
	 
	 	 	 	 	 	 
	ARTICLE 12 Subordination of Subsidiary Guaranties	 	 	77	 
	SECTION 12.01.

	 	Agreement To Subordinate
	 	 	77	 
	SECTION 12.02.

	 	Liquidation, Dissolution, Bankruptcy
	 	 	77	 
	SECTION 12.03.

	 	Default on Senior Indebtedness of Subsidiary Guarantor
	 	 	78	 
	SECTION 12.04.

	 	Demand for Payment
	 	 	79	 
	SECTION 12.05.

	 	When Distribution Must Be Paid Over
	 	 	79	 
	SECTION 12.06.

	 	Subrogation
	 	 	79	 
	SECTION 12.07.

	 	Relative Rights
	 	 	79	 
	SECTION 12.08.

	 	Subordination May Not Be Impaired by Company
	 	 	79	 
	SECTION 12.09.

	 	Rights of Trustee and Paying Agent
	 	 	80	 
	SECTION 12.10.

	 	Distribution or Notice to Representative
	 	 	80	 
	SECTION 12.11.

	 	Article 12 Not To Prevent Events of Default or Limit Right To Demand
Payment
	 	 	80	 

 

iv

 

Table of Contents 
(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	SECTION 12.12.

	 	Trustee Entitled To Rely
	 	 	80	 
	SECTION 12.13.

	 	Trustee To Effectuate Subordination
	 	 	81	 
	SECTION 12.14.

	 	Trustee Not Fiduciary for Holders of Senior Indebtedness of
Subsidiary Guarantor
	 	 	81	 
	SECTION 12.15.

	 	Reliance by Holders of Senior Indebtedness of Subsidiary Guarantors
on Subordination Provisions

	 	 	81	 
	 
	 	 	 	 	 	 
	ARTICLE 13 Miscellaneous	 	 	81	 
	SECTION 13.01.

	 	Trust Indenture Act Controls
	 	 	81	 
	SECTION 13.02.

	 	Notices
	 	 	81	 
	SECTION 13.03.

	 	Communication by Holders with Other Holders
	 	 	82	 
	SECTION 13.04.

	 	Certificate and Opinion as to Conditions Precedent
	 	 	83	 
	SECTION 13.05.

	 	Statements Required in Certificate or Opinion
	 	 	83	 
	SECTION 13.06.

	 	When Securities Disregarded
	 	 	83	 
	SECTION 13.07.

	 	Rules by Trustee
	 	 	83	 
	SECTION 13.08.

	 	Legal Holidays
	 	 	84	 
	SECTION 13.09.

	 	GOVERNING LAW; WAIVER OF JURY TRIAL
	 	 	84	 
	SECTION 13.10.

	 	No Recourse Against Others
	 	 	84	 
	SECTION 13.11.

	 	Successors
	 	 	84	 
	SECTION 13.12.

	 	Multiple Originals
	 	 	84	 
	SECTION 13.13.

	 	Table of Contents; Headings
	 	 	84	 
	SECTION 13.14.

	 	No Adverse Interpretations of Other Agreements
	 	 	84	 
	SECTION 13.15.

	 	Force Majeure
	 	 	85	 
	SECTION 13.16.

	 	U.S.A. Patriot Act
	 	 	85	 

 

v

 

CROSS-REFERENCE TABLE

	 	 	 	 	 
	TIA	 	Indenture
	Section	 	Section
	310(a)
	 	 	7.10	 
	(a)(3)
	 	 	N.A.	 
	(a)(4)
	 	 	N.A.	 
	(b)
	 	 	7.03, 7.08, 7.10	 
	(b)(1)
	 	 	7.10	 
	(c)
	 	 	N.A.	 
	311
	 	 	7.03	 
	311(a)
	 	 	7.11	 
	(b)
	 	 	7.11	 
	(c)
	 	 	N.A.	 
	312(a)
	 	 	2.05	 
	(b)
	 	 	13.03	 
	(c)
	 	 	13.03	 
	313(a)
	 	 	7.06	 
	(b)(1)
	 	 	N.A.	 
	(b)
	 	 	7.06	 
	(c)
	 	 	N.A.	 
	(d)
	 	 	N.A.	 
	314(a)
	 	 	4.02	 
	314(a)(4)
	 	 	4.11	 
	(b)
	 	 	N.A.	 
	(c)(1)
	 	 	N.A.	 
	(c)(2)
	 	 	N.A.	 
	(c)(3)
	 	 	N.A.	 
	(d)
	 	 	N.A.	 
	(e)
	 	 	N.A.	 
	(f)
	 	 	N.A.	 
	315(a)
	 	 	7.01	 
	(b)
	 	 	N.A.	 
	(c)
	 	 	N.A.	 
	(d)
	 	 	N.A.	 
	(e)
	 	 	N.A.	 
	316(a)(last sentence)
	 	 	N.A.	 
	(a)(1)(A)
	 	 	N.A.	 
	(a)(1)(B)
	 	 	N.A.	 
	(a)(2)
	 	 	N.A.	 
	(b) 
	 	 	N.A.	 
	317(a)(1)
	 	 	N.A.	 
	(a)(2)
	 	 	N.A.	 
	(b)
	 	 	N.A.	 
	318(a)
	 	 	N.A.	 

 

vi

 

Rule 144A/Regulation S Appendix

Exhibit 1 — Form of Security

Exhibit 2 — Affiliate Subordination Agreement

 

vii

 

INDENTURE dated as of June 26, 2009, among ASSOCIATED MATERIALS, LLC, a Delaware limited
liability company (the “Company”), the Subsidiary Guarantors and DEUTSCHE BANK TRUST COMPANY
AMERICAS, a New York banking corporation, as trustee (the “Trustee”).

Each party agrees as follows for the benefit of the other parties and for the equal and
ratable benefit of the Holders of the Company’s 15% Senior Subordinated Notes due 2012 (the
“Securities”):

ARTICLE 1

Definitions and Incorporation by Reference

SECTION 1.01. Definitions.

“Additional Assets” means:

(1) any property, plant, equipment or other assets used or usable in a Related
Business;

(2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of
the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or

(3) Capital Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary;

provided, however, that any such Restricted Subsidiary described in clause (2) or (3) above is
primarily engaged in a Related Business.

“Affiliate” of any specified Person means any other Person, directly or indirectly,
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control” when used with respect to any Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. For purposes of Sections 4.04 and 4.07
only, “Affiliate” shall also mean any beneficial owner of Capital Stock representing 10% or more of
the total voting power of the Voting Stock (on a fully diluted basis) of the Company or of rights
or warrants to purchase such Capital Stock (whether or not currently exercisable) and any Person
who would be an Affiliate of any such beneficial owner pursuant to the first sentence hereof.

“Affiliate Subordinated Indebtedness” means Subordinated Obligations of the Company or any
Restricted Subsidiary issued to and held by a Person that is an Affiliate of the Company
immediately prior to its incurrence that (a) has a stated maturity and provides for no payment of
the principal of or cash interest or premium, if any, thereof, prior to six months after the Stated
Maturity of the Securities and (b) is contractually subordinated and junior in right of

 

 

 

payment to the prior payment in full in cash of all Obligations of the Company under the
Securities and this Indenture pursuant to a subordination agreement substantially in the form of
Exhibit 2 or otherwise as acceptable to the holders of a majority in principal amount of the
Securities.

“AMH” means AMH Holdings, LLC, a Delaware limited liability company, and its successors.

“AMH Exchange Notes” means notes or other Indebtedness of the Company issued in exchange for
the Existing AMH Notes, and in each case, if applicable, other consideration in exchange for, or
the net proceeds of which are used to Refinance, all or a portion of the Existing AMH Notes.

“AMH Restricted Subsidiary” means a “Restricted Subsidiary” of AMH as that term is used in the
Existing AMH Indenture.

“AMH II” means AMH Holdings II, Inc. a Delaware corporation, and its successors.

“AMI Exchange Notes” means (a) notes or other Indebtedness and any other consideration of the
Company issued in exchange for the Existing AMI Notes; (b) the Existing AMI Notes, after any
amendment to the terms and conditions thereof or of the Existing AMI Indenture, and (c) in each
case, if applicable, other consideration in exchange for, or the net proceeds of which are used to
Refinance, all or a portion of the Existing AMI Notes.

“Asset Disposition” means any sale, lease (other than operating leases entered into in the
ordinary course of business), transfer or other disposition (or series of related sales, leases,
transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition
by means of a merger, consolidation or similar transaction (each referred to for the purposes of
this definition as a “disposition”), of

(1) any shares of Capital Stock of a Restricted Subsidiary (other than directors’
qualifying shares or shares required by applicable law to be held by a Person other than the
Company or a Restricted Subsidiary);

(2) all or substantially all the assets of any division or line of business of the
Company or any Restricted Subsidiary; or

(3) any other assets of the Company or any Restricted Subsidiary outside of the
ordinary course of business of the Company or such Restricted Subsidiary,

other than, in the case of clauses (1), (2) and (3) above,

(A) a disposition or transfer by a Restricted Subsidiary to the Company or by the
Company or a Restricted Subsidiary to a Restricted Subsidiary;

(B) for purposes of Section 4.06 only, (x) a disposition that constitutes a Restricted
Payment permitted by Section 4.04 or a Permitted Investment or (y) a

 

2

 

disposition of all or substantially all the assets of the Company in accordance with
Section 5.01;

(C) sales or other dispositions of obsolete, uneconomical, negligible, damaged,
worn-out or surplus assets in the ordinary course of business (including but not limited to
equipment, inventory and intellectual property);

(D) a disposition of assets with a fair market value of less than or equal to $1.0
million, not to exceed $5.0 million in the aggregate in any 12 month period;

(E) sale or discount of accounts receivable in connection with the compromise or
collection thereof;

(F) sale or exchange of equipment in connection with the purchase or other acquisition
of equipment; and

(G) sales or grants of licenses to use intellectual property;

provided, however, that a disposition of all or substantially all the assets of the Company and its
Restricted Subsidiaries taken as a whole will be governed by the provisions of this Indenture
described under Section 4.09 and/or the provisions described under Section 5.01 and not by the
provisions described under Section 4.06.

“Attributable Debt” in respect of a Sale/Leaseback Transaction means, as at the time of
determination, the present value (discounted at the interest rate borne by the Securities,
compounded annually) of the total obligations of the lessee for rental payments during the
remaining term of the lease included in such Sale/Leaseback Transaction (including any period for
which such lease has been extended); provided, however, that if such Sale/Leaseback Transaction
results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be
determined in accordance with the definition of “Capital Lease Obligation.”

“Average Life” means, as of the date of determination, with respect to any Indebtedness, the
quotient obtained by dividing

(1) the sum of the products of the numbers of years from the date of determination to
the dates of each successive scheduled principal payment of or redemption or similar payment
with respect to such Indebtedness multiplied by the amount of such payment by

(2) the sum of all such payments.

“Bank Facilities” means the bank facilities under the Credit Agreement as in effect on April
23, 2002.

“Bank Indebtedness” means all Obligations pursuant to the Credit Agreement.

“Board of Directors” with respect to a Person means the Board of Directors of such Person or
any committee thereof duly authorized to act on behalf of such Board.

 

3

 

“Business Day” means each day which is not a Legal Holiday.

“Capital Lease Obligation” means an obligation that is required to be classified and accounted
for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of
Indebtedness represented by such obligation shall be the capitalized amount of such obligation
determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last
payment of rent or any other amount due under such lease prior to the first date upon which such
lease may be terminated by the lessee without payment of a penalty.

“Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
equity of such Person, including any Preferred Stock, but excluding any debt securities convertible
into such equity.

“Change of Control” means the occurrence of any of the following events:

(1) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
Act), other than (directly or indirectly) one or more Permitted Holders, is or becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that
such person shall be deemed to have “beneficial ownership” of all shares that any such
person has the right to acquire, whether such right is exercisable immediately or only after
the passage of time, and except that in the case of a “group” pursuant to Rule 13d-5(b)(1)
of the Exchange Act which group includes one or more Permitted Holders (or one or more
Permitted Holders are deemed to share beneficial ownership with one or more other Persons of
any shares of Voting Stock), (i) such “group” shall be deemed not to have beneficial
ownership of any shares held by a Permitted Holder forming a part of such group and (ii) any
Person (other than a Permitted Holder) that is a member of such group (or sharing such
beneficial ownership) shall be deemed not to have beneficial ownership of any shares held by
a Permitted Holder that is a part of such group (or in which such person shares beneficial
ownership)), directly or indirectly, of more than 35% of the total voting power of the
Voting Stock of the Company; provided, however, that the Permitted Holders beneficially own
(as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, in the
aggregate a lesser percentage of the total voting power of the Voting Stock of the Company
than such other person and do not have the right or ability by voting power, contract or
otherwise to elect or designate for election a majority of the Board of Directors of the
Company (for the purposes of this clause (1), (a) such other person shall be deemed to
beneficially own any Voting Stock of a specified Person held by a parent entity if (and any
such parent entity shall be deemed to beneficially own such Voting Stock only if) such other
person is the beneficial owner (as defined in this provision), directly or indirectly, of
more than 35% of the voting power of the Voting Stock of such parent entity and the
Permitted Holders beneficially own (as defined in this provision), directly or indirectly,
in the aggregate a lesser percentage of the voting power of the Voting Stock of such parent
entity and do not have the right or ability by voting power, contract or otherwise to elect
or designate for election a majority of the Board of Directors of such parent entity);

 

4

 

(2) individuals who upon the Issue Date constituted the Board of Directors of the
Company or Parent (together with any new directors whose election by such Board of Directors
of the Company of the Parent Board or whose nomination for election by the shareholders of
the Company or the Parent, as the case may be, was approved by a vote of a majority of the
directors of the Company or the Parent, as the case may be, then still in office who were
either directors on the Issue Date or whose election or nomination for election was
previously so approved) cease for any reason to constitute a majority of the Board of
Directors of the Company or the Parent then in office;

(3) the adoption of a plan relating to the liquidation or dissolution of the Company;

(4) the merger or consolidation of the Company with or into another Person or the
merger of another Person with or into the Company, or the sale of all or substantially all
the assets of the Company to another Person (other than a Person that is controlled by the
Permitted Holders), and, in the case of any such merger or consolidation, the securities of
the Company that are outstanding immediately prior to such transaction and which represent
100% of the aggregate voting power of the Voting Stock of the Company are changed into or
exchanged for cash, securities or property, unless pursuant to such transaction such
securities are changed into or exchanged for, in addition to any other consideration,
securities of the surviving corporation that represent immediately after such transaction,
at least a majority of the aggregate voting power of the Voting Stock of the surviving
corporation; or

(5) while any Existing AMI Notes remain outstanding, a “Change of Control” as defined
under the Existing AMI Indenture has occurred that requires the Company to purchase Existing
AMI Notes pursuant to Section 4.09 of the Existing AMI Indenture and such requirement has
not been waived.

“Code” means the Internal Revenue Code of 1986, as amended.

“Company” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor.

“Company Order” means a written order from the Company to the Trustee requesting the Trustee
to authenticate the Securities.

“Consolidated Coverage Ratio” as of any date of determination means the ratio of (x) the
aggregate amount of EBITDA for the period of the most recent four consecutive fiscal quarters for
which internal financial statements are available on or prior to the date of such determination to
(y) Consolidated Interest Expense for such four fiscal quarters; provided, however, that:

(1) if the Company or any Restricted Subsidiary has Incurred any Indebtedness since the
beginning of such period that remains outstanding or if the transaction giving rise to the
need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both,
EBITDA and Consolidated Interest Expense for such period shall be calculated after giving
effect on a pro forma basis to such Indebtedness as

 

5

 

if such Indebtedness had been Incurred on the first day of such period (and, if such
Indebtedness is revolving Indebtedness, the amount of Indebtedness deemed to be outstanding
for such period shall be the average outstanding amount of such Indebtedness during such
period);

(2) if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or
otherwise discharged any Indebtedness since the beginning of such period or if any
Indebtedness is to be repaid, repurchased, defeased or otherwise discharged (in each case
other than Indebtedness Incurred under any revolving credit facility unless such
Indebtedness has been permanently repaid and has not been replaced) on the date of the
transaction giving rise to the need to calculate the Consolidated Coverage Ratio, EBITDA and
Consolidated Interest Expense for such period shall be calculated on a pro forma basis as if
such discharge had occurred on the first day of such period and as if the Company or such
Restricted Subsidiary had not earned the interest income actually earned during such period
in respect of cash or Temporary Cash Investments used to repay, repurchase, defease or
otherwise discharge such Indebtedness;

(3) if since the beginning of such period the Company or any Restricted Subsidiary
shall have made any Asset Disposition, EBITDA for such period shall be reduced by an amount
equal to EBITDA (if positive) attributable to the assets which are the subject of such Asset
Disposition for such period, or increased by an amount equal to EBITDA (if negative),
attributable thereto for such period and Consolidated Interest Expense for such period shall
be reduced by an amount equal to the Consolidated Interest Expense attributable to any
Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, defeased or
otherwise discharged with respect to the Company and its continuing Restricted Subsidiaries
in connection with such Asset Disposition for such period (or, if the Capital Stock of any
Restricted Subsidiary is sold, the Consolidated Interest Expense for such period
attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and
its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such
sale);

(4) if since the beginning of such period the Company or any Restricted Subsidiary (by
merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any
person which becomes a Restricted Subsidiary) or an acquisition of assets, including any
acquisition of assets occurring in connection with a transaction requiring a calculation to
be made hereunder, which constitutes all or substantially all of an operating unit of a
business, EBITDA and Consolidated Interest Expense for such period shall be calculated after
giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such
Investment or acquisition occurred on the first day of such period; and

(5) if since the beginning of such period any Person (that subsequently became a
Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary
since the beginning of such period) shall have made any Asset Disposition, any Investment or
acquisition of assets that would have required an adjustment pursuant to clause (3) or (4)
above if made by the Company or a Restricted Subsidiary during such period, EBITDA and
Consolidated Interest Expense for such

 

6

 

period shall be calculated after giving pro forma effect thereto as if such Asset
Disposition, Investment or acquisition occurred on the first day of such period.

For purposes of this definition, whenever pro forma effect is to be given to an acquisition of
assets (including Capital Stock), the amount of income or earnings relating thereto and the amount
of Consolidated Interest Expense associated with any Indebtedness Incurred in connection therewith,
the pro forma calculations shall be determined in accordance with Regulation S-X under the Exchange
Act or as otherwise acceptable to the SEC. If any Indebtedness bears a floating rate of interest
and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if
the rate in effect on the date of determination had been the applicable rate for the entire period
(taking into account any Interest Rate Agreement applicable to such Indebtedness if such Interest
Rate Agreement has a remaining term in excess of 12 months).

“Consolidated Interest Expense” means, for any period, the total interest expense of the
Company and its consolidated Restricted Subsidiaries, plus, to the extent not included in such
total interest expense, and to the extent Incurred by the Company or its Restricted Subsidiaries,
without duplication,

(1) interest expense attributable to Capital Lease Obligations and the interest expense
attributable to leases constituting part of a Sale/Leaseback Transaction;

(2) amortization of debt discount and debt issuance cost (to the extent not excluded
under clause (a) of the proviso below);

(3) capitalized interest;

(4) non-cash interest expense;

(5) commissions, discounts and other fees and charges owed with respect to letters of
credit and bankers’ acceptance financing;

(6) net payments or receipts pursuant to Hedging Obligations;

(7) dividends declared and paid in cash or Disqualified Stock in respect of (A) all
Preferred Stock of Restricted Subsidiaries and (B) all Disqualified Stock of the Company, in
each case held by Persons other than the Company or a Wholly Owned Subsidiary and, in each
case, excluding dividends payable in Qualified Stock;

(8) interest incurred in connection with Investments in discontinued operations;

(9) interest accruing on any Indebtedness of any other Person (other than a Subsidiary)
to the extent such Indebtedness is Guaranteed by (or secured by the assets of) the Company
or any Restricted Subsidiary and such Indebtedness is accelerated or any payment is actually
made in respect of such Guarantee; and

 

7

 

(10) the cash contributions to any employee stock ownership plan or similar trust to
the extent such contributions are used by such plan or trust to pay interest or fees to any
Person (other than the Company or a Restricted Subsidiary thereof) in connection with
Indebtedness Incurred by such plan or trust,

and less, to the extent included in such interest expense, (a) the amortization during such period
of debt issuance costs; provided, however, that the aggregate amount of amortization relating to
any such debt issuance costs deducted in calculating Consolidated Interest Expense shall not exceed
5.0% of the aggregate amount of the financing giving rise to such debt issuance costs and (b) the
write-off of debt issuance costs and debt discount paid in connection with any early extinguishment
of Indebtedness during such period.

“Consolidated Net Income” means, for any period, the sum of (1) net income of the Company and
its Subsidiaries and (2) to the extent deducted in calculating net income of the Company and its
Subsidiaries, any non-recurring fees, expenses or charges related to the Transactions or any Note
Refinancing ; provided, however, that there shall not be included in such Consolidated Net Income:

(1) any net income of any Person (other than the Company) if such Person is not a
Restricted Subsidiary, except that:

(A) subject to the exclusion contained in clause (3) below, the Company’s
equity in the net income of any such Person for such period shall be included in
such Consolidated Net Income up to the aggregate amount of cash actually distributed
by such Person during such period to the Company or a Restricted Subsidiary as a
dividend or other distribution (subject, in the case of a dividend or other
distribution paid to a Restricted Subsidiary, to the limitations contained in clause
(2) below); and

(B) the Company’s equity in a net loss of any such Person for such period shall
be included in determining such Consolidated Net Income;

(2) any net income of any Restricted Subsidiary if such Restricted Subsidiary is
subject to restrictions, directly or indirectly, on the payment of dividends or the making
of distributions by such Restricted Subsidiary, directly or indirectly, to the Company,
except that:

(A) subject to the exclusion contained in clause (3) below, the Company’s
equity in the net income of any such Restricted Subsidiary for such period shall be
included in such Consolidated Net Income up to the aggregate amount of cash that
could have been distributed by such Restricted Subsidiary during such period to the
Company or another Restricted Subsidiary as a dividend or other distribution
(subject, in the case of a dividend or other distribution paid to another Restricted
Subsidiary, to the limitation contained in this clause); and

(B) the Company’s equity in a net loss of any such Restricted Subsidiary for
such period shall be included in determining such Consolidated Net Income;

 

8

 

(3) any gain or loss (and the related tax effects) realized upon the sale or other
disposition of any assets of the Company, its consolidated Restricted Subsidiaries or any
other Person (including pursuant to any sale-and-leaseback arrangement) which is not sold or
otherwise disposed of in the ordinary course of business and any gain or loss realized upon
the sale or other disposition of any Capital Stock of any Person;

(4) extraordinary, non-cash or non-recurring gains, losses or charges, including (i)
those related to impairment of goodwill and other intangible assets, (ii) the write-off of
capitalized financing costs and related premiums paid in connection with any early
extinguishment of Indebtedness and the related tax effects, and (iii) any gains, losses or
charges relating to any Note Refinancing;

(5) the cumulative effect of a change in accounting principles; and

(6) any net income or loss attributable to discontinued operations.

Notwithstanding the foregoing, for the purposes of Section 4.04 only, there shall be excluded from
Consolidated Net Income any repurchases, repayments or redemptions of Investments, proceeds
realized on the sale of Investments or return of capital to the Company or a Restricted Subsidiary
to the extent such repurchases, repayments, redemptions, proceeds or returns increase the amount of
Restricted Payments permitted under Section 4.04(a)(3)(D).

“Credit Agreement” means the Credit Agreement dated as of April 19, 2002, by and among the
Company, the lenders referred to therein, UBS AG, Stamford Branch, as Administrative Agent, Credit
Suisse First Boston, as Syndication Agent, and CIBC World Markets Corp., as Documentation Agent,
together with the related documents thereto (including any guarantees and security documents,
whether in effect on April 23, 2002 or entered into thereafter), as amended, extended, renewed,
restated, supplemented or otherwise modified. For the avoidance of doubt, within the meaning of
“Credit Agreement” shall be the Loan and Security Agreement, dated as of October 3, 2008, by and
among the Company and Gentek Building Products, Inc., as U.S. Borrowers, Gentek Building Products
Limited, as Canadian Borrower, Associated Materials Holdings, Gentek Holdings, LLC and Alside,
Inc., as guarantors, the lenders and issuing bank from time to time party thereto, Wachovia Bank,
National Association, as administrative and collateral agent, Wachovia Capital Markets, LLC and CIT
Capital Securities, LLC, as joint lead arrangers and joint lead bookrunners, and The CIT
Group/Business Credit, Inc., as syndication agent, as amended, extended, renewed, restated,
supplemented or otherwise modified.

“Credit Facilities” means, with respect to the Company and its Restricted Subsidiaries, one or
more debt facilities (including under the Credit Agreement) or commercial paper facilities with
banks, insurance companies or other institutional lenders providing for revolving credit loans,
term loans, notes, factoring or other receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from or issue
securities to such lenders against such receivables) or letters of credit or other credit
facilities, in each case, as amended, modified, supplemented, increased or restated from time to
time, or refunded, refinanced, restructured, replaced, renewed, repaid or extended from time to
time (whether with the original agents and lenders or other agents or lenders or

 

9

 

otherwise, and whether provided under the original credit agreement or other credit agreements or otherwise).

“Currency Agreement” means in respect of a Person any foreign exchange contract, currency swap
agreement or other similar agreement designed to protect such Person against fluctuations in
currency values.

“Default” means any event which is, or after notice or passage of time or both would be, an
Event of Default.

“Designated Senior Indebtedness”, with respect to a Person, means

(1) the Bank Indebtedness; and

(2) any other Senior Indebtedness of such Person which, at the date of determination,
has an aggregate principal amount outstanding of, or under which, at the date of
determination, the holders thereof are committed to lend up to, at least $25.0 million and
is specifically designated by such Person in the instrument evidencing or governing such
Senior Indebtedness as “Designated Senior Indebtedness” for purposes of this Indenture.

“Disqualified Stock” means, with respect to any Person, that portion of any Capital Stock
which by its terms (or by the terms of any security into which it is convertible or for which it is
exchangeable at the option of the holder) or upon the happening of any event:

(1) matures (excluding any maturity as a result of an optional redemption by the issuer
thereof) or is mandatorily redeemable (other than redeemable only for Capital Stock of such
Person which is not itself Disqualified Stock) pursuant to a sinking fund obligation or
otherwise;

(2) is convertible or exchangeable at the option of the holder for Indebtedness or
Disqualified Stock; or

(3) is mandatorily redeemable or must be purchased upon the occurrence of certain
events or otherwise, in whole or in part;

in each case on or prior to the date that is 91 days after the Stated Maturity of the Securities;
provided, however, that if such Capital Stock is issued to any employee or to any plan for the
benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such
Capital Stock shall not constitute Disqualified Stock solely because it may be required to be
repurchased by the Company in order to satisfy obligations as a result of such employee’s death or
disability; and provided, further, however, that any Capital Stock that would not constitute
Disqualified Stock but for provisions thereof giving holders thereof the right to require such
Person to purchase or redeem such Capital Stock upon the occurrence of an “asset sale” or “change
of control” occurring prior to the date that is 91 days after the Stated Maturity of the Securities
shall not constitute Disqualified Stock if the “asset sale” or “change of control” provisions
applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than
the terms applicable to the Securities in Section 4.06 and 4.09 of this Indenture.

 

10

 

The amount of any Disqualified Stock that does not have a fixed redemption, repayment or
repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if
such Disqualified Stock were redeemed, repaid or repurchased on any date on which the amount of
such Disqualified Stock is to be determined pursuant to this Indenture; provided, however, that if
such Disqualified Stock could not be required to be redeemed, repaid or repurchased at the time of
such determination, the redemption, repayment or repurchase price shall be the book value of such
Disqualified Stock as reflected in the most recent financial statements of such Person.

“EBITDA” for any period means the sum of Consolidated Net Income, plus the following to the
extent deducted in calculating such Consolidated Net Income:

(1) all income tax expense of the Company and its consolidated Restricted Subsidiaries;

(2) Consolidated Interest Expense;

(3) depreciation and amortization expense of the Company and its consolidated
Restricted Subsidiaries (excluding amortization expense attributable to a prepaid operating
activity item that was paid in cash in a prior period); and

(4) all other non-cash charges of the Company and its consolidated Restricted
Subsidiaries (excluding any such non-cash charge to the extent that it represents an accrual
of or reserve for cash expenditures in any future period);

in each case for such period determined in accordance with GAAP. Notwithstanding the foregoing,
the provision for taxes based on the income or profits of, and the depreciation and amortization
and non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to
compute EBITDA only to the extent (and in the same proportion, including by reason of minority
interest) that the net income of such Restricted Subsidiary was included in calculating
Consolidated Net Income and only if a corresponding amount would be permitted at the date of
determination to be dividended to the Company by such Restricted Subsidiary without prior approval
(that has not been obtained), pursuant to the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules and governmental regulations applicable to such
Restricted Subsidiary or its stockholders. In addition, to the extent reducing EBITDA for any
period, all costs and charges directly relating to the Transactions and the Note Refinancing shall
be excluded.

“Equity Financing” means the financing by Parent of at least $172.0 million of equity capital
to provide a portion of the funds for the Equity Tender Offer and the Merger.

“Equity Offering” means a primary offering of common stock or common equity of Parent or the
Company.

“Equity Tender Offer” means the cash tender offer for 100% of the shares of common stock of
the Company at a price of $50.00 per share.

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended.

 

11

 

“Existing AMH II Notes” means AMH II’s 13.625% Senior Notes Due 2014.

“Existing AMH Indenture” means the Indenture dated as of March 4, 2004, between AMH and
Wilmington Trust Company, as trustee.

“Existing AMH Notes” means AMH’s 11 1/4% Senior Discount Notes Due 2014.

“Existing AMI Notes” means the Company’s 9 3/4% Senior Subordinated Notes Due 2012.

“Existing AMI Indenture” means the Indenture dated as of April 23, 2002, among the Company and
Wilmington Trust Company, as trustee, as amended.

“GAAP” means generally accepted accounting principles in the United States of America as in
effect as of April 23, 2002, including those set forth in

(1) the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants;

(2) statements and pronouncements of the Financial Accounting Standards Board;

(3) such other statements by such other entity as approved by a significant segment of
the accounting profession; and

(4) the rules and regulations of the SEC governing the inclusion of financial
statements (including pro forma financial statements) in periodic reports required to be
filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in
staff accounting bulletins and similar written statements from the accounting staff of the
SEC.

All ratios and computations based on GAAP contained in this Indenture shall be computed in
conformity with GAAP.

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any Person and any obligation, direct or indirect,
contingent or otherwise, of such Person

(1) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such Person (whether arising by virtue of partnership arrangements, or by
agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay
or to maintain financial statement conditions or otherwise); or

(2) entered into for the purpose of assuring in any other manner the obligee of such
Indebtedness of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part);

 

12

 

provided, however, that the term “Guarantee” shall not include endorsements for collection or
deposit in the ordinary course of business. The term “Guarantee” used as a verb has a
corresponding meaning.

“Guaranty” means each Subsidiary Guaranty, as applicable.

“Guaranty Agreement” means a supplemental indenture, in a form satisfactory to the Trustee,
pursuant to which a Subsidiary Guarantor guarantees the Company’s obligations with respect to the
Securities on the terms provided for in this Indenture.

“Harvest Management Services Agreement” means the management agreement, dated as of April 19,
2002 between Harvest Partners, Inc. and the Company entered into in connection with the
Transaction.

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any
Interest Rate Agreement or Currency Agreement or similar Agreement.

“Holder” or “Securityholder” means the Person in whose name a Security is registered on the
Registrar’s books.

“Holding Companies” means Parent, AMH and AMH II or any other direct or indirect parent of the
Company.

“Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided,
however, that any Indebtedness or Capital Stock of a Person existing at the time such Person
becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall
be deemed to be Incurred by such Person at the time it becomes a Restricted Subsidiary. The term
“Incurrence” when used as a noun shall have a correlative meaning.

“Indebtedness” means, with respect to any Person on any date of determination (without
duplication):

(1) the principal in respect of (A) indebtedness of such Person for borrowed money and
(B) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the
payment of which such Person is responsible or liable, including, in each case, any premium
on such indebtedness to the extent such premium has become due and payable;

(2) all Capital Lease Obligations of such Person and all Attributable Debt in respect
of Sale/Leaseback Transactions entered into by such Person;

(3) all obligations of such Person issued or assumed as the deferred purchase price of
property, all conditional sale obligations of such Person and all obligations of such Person
under any title retention agreement (but excluding trade accounts payable arising in the
ordinary course of business);

(4) all obligations of such Person for the reimbursement of any obligor on any letter
of credit, bankers’ acceptance or similar credit transaction (other than obligations

 

13

 

with respect to letters of credit securing obligations (other than obligations
described in clauses (1) through (3) above) entered into in the ordinary course of business
of such Person to the extent such letters of credit are not drawn upon or, if and to the
extent drawn upon, such drawing is reimbursed no later than the tenth Business Day following
payment on the letter of credit);

(5) the amount of all obligations of such Person with respect to the redemption,
repayment or other repurchase of any Disqualified Stock of such Person or, with respect to
any Preferred Stock of any Subsidiary of such Person, the principal amount of such Preferred
Stock to be determined in accordance with this Indenture (but excluding, in each case, any
accrued dividends);

(6) all obligations of the type referred to in clauses (1) through (5) of other Persons
and all dividends of other Persons for the payment of which, in either case, such Person is
responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including
by means of any Guarantee;

(7) all obligations of the type referred to in clauses (1) through (6) of other Persons
secured by any Lien on any property or asset of such Person (whether or not such obligation
is assumed by such Person), the amount of such obligation being deemed to be the lesser of
the value of such property or assets and the amount of the obligation so secured; and

(8) to the extent not otherwise included in this definition, Hedging Obligations of
such Person.

The amount of Indebtedness of any Person at any date shall be the outstanding balance at such
date of all unconditional obligations as described above and the maximum liability, upon the
occurrence of the contingency giving rise to the obligation, of any contingent obligations at such
date; provided, however, that in the case of Indebtedness sold at a discount, the amount of such
Indebtedness at any time will be the accreted value thereof at such time.

“Indenture” means this Indenture as amended or supplemented from time to time.

“Independent Qualified Party” means an investment banking firm, accounting firm or appraisal
firm of national standing; provided, however, that such firm is not an Affiliate of the Company.

“Interest Rate Agreement” means the obligations of any Person pursuant to any arrangement with
any other Person, whereby, directly or indirectly, such Person is entitled to receive from time to
time periodic payments calculated by applying either a floating or a fixed rate of interest on a
stated notional amount in exchange for periodic payments made by such other Person calculated by
applying a fixed or a floating rate of interest on the same notional amount and shall include
interest rate swaps, caps, floors, collars and similar agreements to protect such Person against
fluctuations in interest rates.

“Investcorp Management Services Agreements” means (i) the Agreement for Management Advisory,
Strategic Planning and Consulting Services, dated as of December 22,

 

14

 

2004, between Investcorp International Inc. and the Company, (ii) the Financing Advisory
Services Agreement, dated as of December 22, 2004, between Investcorp International Inc. and the
Company, and (iii) M&A Advisory Services Agreement, dated as of December 5, 2004, between
Investcorp International Inc. and the Company.

“Investment” in any Person means any direct or indirect advance, loan (other than advances to
customers in the ordinary course of business that are recorded as accounts receivable on the
balance sheet of the lender) or other extensions of credit (including by way of Guarantee or
similar arrangement) or capital contribution to (by means of any transfer of cash or other property
to others or any payment for property or services for the account or use of others), or any
purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by such
Person. Except as otherwise provided for herein, the amount of an Investment shall be its fair
value at the time the Investment is made and without giving effect to subsequent changes in value.

For purposes of the definition of “Unrestricted Subsidiary,” the definition of
“Restricted Payment” and Section 4.04:

(1) “Investment” shall include the portion (proportionate to the Company’s equity
interest in such Subsidiary) of the fair market value of the net assets of any Subsidiary of
the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; and

(2) any property transferred to or from an Unrestricted Subsidiary shall be valued at
its fair market value at the time of such transfer, in each case as determined in good faith
by the Board of Directors of the Company.

“Issue Date” means the date on which the Securities are originally issued.

“Junior” means in relation to specified Indebtedness that the Securities (a) are subject to
any contractual or structural subordination or (b) in the case of specified Secured Indebtedness,
are unsecured or secured by a Lien junior to the Lien securing such specified Indebtedness or a
Lien on less than all of the collateral securing such specified Indebtedness.

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not
required to be open in the State of New York.

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind
(including any conditional sale or other title retention agreement or lease in the nature thereof).

“Merger” means the merger of Simon Acquisition Corp. with and into Associated Materials
Incorporated pursuant to the Merger Agreement.

“Merger Agreement” means the Agreement and Plan of Merger dated as of March 16, 2002 by and
among Simon Acquisition Corp., Parent and the Company.

 

15

 

“Net Available Cash” from an Asset Disposition means cash payments received therefrom
(including any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and proceeds from the sale or other disposition of any
securities received as consideration, but only as and when received, but excluding any other
consideration received in the form of assumption by the acquiring Person of Indebtedness or other
obligations relating to such properties or assets or received in any other non-cash form), in each
case net of:

(1) all legal, title and recording tax expenses, underwriting discounts, commissions
and other fees and expenses incurred (including fees and expenses of counsel, accountants
and investment bankers), and all Federal, state, provincial, foreign and local taxes
required to be accrued as a liability under GAAP, as a consequence of such Asset
Disposition;

(2) all payments made on any Indebtedness which is secured by any assets subject to
such Asset Disposition, in accordance with the terms of any Lien upon or other security
agreement of any kind with respect to such assets, or which must by its terms, or in order
to obtain a necessary consent to such Asset Disposition, or by applicable law, be repaid out
of the proceeds from such Asset Disposition;

(3) all distributions and other payments required to be made to minority interest
holders in Restricted Subsidiaries as a result of such Asset Disposition; and

(4) the deduction of appropriate amounts provided by the seller as a reserve, in
accordance with GAAP, against any current or contingent liabilities associated with the
property or other assets disposed in such Asset Disposition and retained by the Company or
any Restricted Subsidiary after such Asset Disposition.

“Net Cash Proceeds”, with respect to any issuance or sale of Capital Stock, means the cash
proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or
placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually
Incurred in connection with such issuance or sale and net of taxes paid or payable as a result
thereof.

“Note Refinancing” means any amendment (or other modification) in any manner of any of the
material terms of, or any Refinancing of, all or any part of the Obligations under the Existing AMI
Notes or the Existing AMH Notes, or both, including (i) any amendment of the Existing AMI Notes or
the Existing AMI Indenture or the issuance of notes or other Indebtedness of the Company and, if
applicable, other consideration in exchange for, or the net proceeds of which are used to
Refinance, all or a portion of the Existing AMI Notes, whether or not the principal amount of any
such notes or other Indebtedness being issued is less or greater than the principal amount of the
Existing AMI Notes, whether such notes or other Indebtedness is secured or unsecured, senior or
subordinated, and irrespective of the terms of any indenture or other debt agreement or agreements
evidencing such notes or other Indebtedness, (ii) the issuance of notes or other Indebtedness of
the Company and, if applicable, other consideration in exchange for, or the net proceeds of which
are used to Refinance, all or a portion of the Existing AMH Notes, whether or not the principal
amount of such notes or other Indebtedness is less or

 

16

 

greater than the principal amount of the Existing AMH Notes, whether such notes or other
Indebtedness is secured or unsecured, senior or subordinated, and irrespective of the terms of any
indenture or other debt agreement or agreements evidencing such notes or other Indebtedness, and
the distribution of the exchanged Existing AMH Notes to AMH for cancellation, (iii) the issuance of
the Replacement AMI Notes or (iv) any amendment of the Credit Facilities, if incurred pursuant to
Section 4.03(b)(1) hereof, including to permit the transactions taking place as part of the
transactions referred to in clause (i), (ii) and (iii) hereof, in each case including the payment
of accrued interest and fees and expenses in connection therewith.

“Note Refinancing Conditions” means:

(1) the Note Refinancing (other than an amendment of the Credit Facilities to permit the
fulfillment of the Company’s obligations under Section 6.1 of the Purchase Agreement) shall
have been consummated on or prior to the first anniversary of the Issue Date;

(2) no Default or Event of Default shall then exist or result from the Note Refinancing;

(3) after giving effect to the Note Refinancing on a pro forma basis, the Consolidated
Coverage Ratio (with references to the Company and its Restricted Subsidiaries in such
definition instead referring to AMH II and its Subsidiaries) of AMH II and its Subsidiaries
shall not be less than, and the Leverage Ratio (as defined as of the date hereof in the
indenture relating to the Existing AMH II Notes) of AMH II and its Subsidiaries shall not be
greater than, such Consolidated Coverage Ratio and such Leverage Ratio immediately prior to
the Note Refinancing;

(4) if applicable, the Company shall have commenced an offer to the holders of the
Securities to exchange their Securities for Replacement AMI Notes in accordance with the
terms of the Purchase Agreement (which, for the avoidance of doubt, may occur following any
Note Refinancing); and

(5) the Credit Facilities, if incurred pursuant to Section 4.03(b)(1) hereof, shall be
comprised entirely of a revolving facility and shall not contain any term Indebtedness.

“Note Tender Offer” means the tender offer by the Company of all its 9 1/4% senior
subordinated notes due 2008, including the change of control offer required pursuant to the
indenture governing such 9 1/4% senior subordinated notes and the defeasance of any such remaining
9 1/4% senior subordinated notes after such change of control offer.

“Obligations” means with respect to any Indebtedness all obligations for principal, premium,
interest, penalties, fees, indemnifications, reimbursements and other amounts payable pursuant to
the documentation governing such Indebtedness.

“Offering” means the issue and sale of the Securities pursuant to the Purchase Agreement.

 

17

 

“Officer” means the Chairman of the Board, the President, the Chief Financial Officer, any
Vice President, the Treasurer or the Secretary of the Company.

“Officers’ Certificate” means a certificate signed by two Officers one of whom shall be the
principal financial officer of the Company, and in the case of Section 4.11, shall be the principal
financial officer, principal executive officer or principal accounting officer.

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company or the Trustee.

“Parent” means Associated Materials Holdings, LLC, a Delaware limited liability company, and
its successors.

“Parent Board” means the Board of Directors of the Parent or any committee thereof duly
authorized to act on behalf of such Board.

“Pari Passu” means, with respect to any specified Indebtedness, that (a) the Securities are
not contractually or structurally subordinated to such specified Indebtedness, (b) such specified
Indebtedness does not (i) have a maturity or scheduled principal payments more than 3 months prior
to the maturity of the Securities or (ii) provide for guarantees or other credit support that is
greater than that applicable to the Securities and (c) if such specified Indebtedness is Secured
Indebtedness, the Securities are equally and ratably secured with such Indebtedness by all
collateral securing such Indebtedness.

“Permitted Holders” means the “Purchasers” and the “Sellers” under the Stock Purchase
Agreement and Permitted Transferees.

“Permitted Investment” means an Investment by the Company or any Restricted Subsidiary in:

(1) the Company, a Restricted Subsidiary or a Person that will, upon the making of such
Investment, become a Restricted Subsidiary; provided, however, that the primary business of
such Restricted Subsidiary is a Related Business;

(2) another Person if as a result of such Investment such other Person is merged or
consolidated with or into, or transfers or conveys all or substantially all its assets to,
the Company or a Restricted Subsidiary; provided, however, that such Person’s primary
business is a Related Business;

(3) cash and Temporary Cash Investments;

(4) receivables owing to the Company or any Restricted Subsidiary if created or
acquired in the ordinary course of business and payable or dischargeable in accordance with
customary trade terms; provided, however, that such trade terms may include such
concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable
under the circumstances;

 

18

 

(5) payroll, moving, travel and similar advances to cover matters that are expected at
the time of such advances ultimately to be treated as expenses for accounting purposes and
that are made in the ordinary course of business;

(6) loans or advances to employees, directors or consultants made in the ordinary
course of business in an aggregate amount not to exceed $2.0 million at any time
outstanding;

(7) stock, obligations or securities received in settlement of debts created in the
ordinary course of business and owing to the Company or any Restricted Subsidiary or in
satisfaction of judgments;

(8) any Person to the extent such Investment represents the non-cash portion of the
consideration received for an Asset Disposition as permitted pursuant to Section 4.06;

(9) any Person where such Investment was acquired by the Company or any of its
Restricted Subsidiaries (a) in exchange for any other Investment or accounts receivable held
by the Company or any such Restricted Subsidiary in connection with or as a result of a
bankruptcy, workout, reorganization or recapitalization of the issuer of such other
Investment or accounts receivable or (b) as a result of a foreclosure by the Company or any
of its Restricted Subsidiaries with respect to any secured Investment or other transfer of
title with respect to any secured Investment in default;

(10) Hedging Obligations of the Company’s or any Restricted Subsidiary’s business and
not for the purpose of speculation;

(11) Investments existing on the Issue Date and any such Investment that replaces or
refinances such Investment in such Person existing on the Issue Date in an amount not
exceeding the amount of the Investment being replaced or refinanced; provided, however, the
new Investment is on terms and conditions no less favorable than the Investment being
renewed or replaced;

(12) Guarantees of Indebtedness otherwise permitted under this Indenture;

(13) Investments the payment of which consists of Qualified Stock of any of the Holding
Companies or the Company;

(14) Investments in the Securities;

(15) Investments consisting of obligations of one or more consultants, officers,
directors or other employees of the Company or any of its Subsidiaries in connection with
such consultants, officers’, directors’ or employees’ acquisition of shares of capital stock
of any of the Holding Companies or the Company so long as no cash is paid by the Company or
any of its Subsidiaries to such consultants, officers, directors or employees in connection
with the acquisition of any such obligations; and

 

19

 

(16) other Investments in any Person having an aggregate fair market value (measured on
the date each such Investment was made and without giving effect to subsequent changes in
value), when taken together with all other Investments made pursuant to this clause (16)
that are at the time outstanding, not to exceed $2.5 million.

“Permitted Transferee” means, with respect to any Person:

(1) any Affiliate of that Person;

(2) the spouse, former spouse, lineal descendants, heirs, executors, administrators,
testamentary trustees, legatees or beneficiaries of any such Person;

(3) a trust, the beneficiaries of which, or a corporation or partnership or limited liability
company, the stockholders, general or limited partners or members of which, include only such
Person or his or her spouse, former spouse, lineal descendants or heirs, in each case to whom such
Person has transferred, or through which such Person holds, the beneficial ownership (as such term
is used in clause (1) of the definition of Change of Control) of any securities of the Company;

(4) any investment fund or investment entity that is a subsidiary of such Person or a
Permitted Transferee of or managed by such Person;

(5) (a) Harvest Partners, Inc., (b) any Affiliate of Harvest Partners, Inc., (c) any other
Person with whom Harvest Partners, Inc. or any Affiliate thereof has any administrative
relationship with respect to securities of the Company and (d) any holder of Capital Stock of any
Person referred to in the foregoing clause (c); and

(6) (a) Investcorp S.A., (b) any Affiliate of Investcorp S.A., (c) any other Person with whom
Investcorp S.A. or any Affiliate thereof has any administrative relationship with respect to
securities of the Company and (d) any holder of Capital Stock of any Person referred to in the
foregoing clause (c).

“Person” means any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization, government or any
agency or political subdivision thereof or any other entity.

“Preferred Stock”, as applied to the Capital Stock of any Person, means Capital Stock of any
class or classes (however designated) which is preferred as to the payment of dividends or
distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of such Person, over shares of Capital Stock of any other class of such Person.

“principal” of a Security means the principal of the Security plus the premium, if any,
payable on the Security which is due or overdue or is to become due at the relevant time.

“Purchase Agreement” means a purchase agreement dated June 16, 2009 between the Company and
the Purchasers (as defined therein) to effectuate the Offering.

 

20

 

“Qualified Stock” means any Capital Stock that is not Disqualified Stock.

“Refinance” means, in respect of any Indebtedness, to refinance, amend, extend, renew, refund,
repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement
for, such Indebtedness.

“Refinanced” and “Refinancing” shall have correlative meanings.

“Refinancing Indebtedness” means Indebtedness that Refinances any Indebtedness of the Company
or any Restricted Subsidiary incurred pursuant to Section 4.03(a) or Section 4.03(b)(3), (4), (5),
(7), (8), (10) or (14); provided, however, that:

(1) such Refinancing Indebtedness has a Stated Maturity no earlier than the Stated
Maturity of the Indebtedness being Refinanced;

(2) such Refinancing Indebtedness has an Average Life at the time such Refinancing
Indebtedness is Incurred that is equal to or greater than the Average Life of the
Indebtedness being Refinanced; and

(3) such Refinancing Indebtedness has an aggregate principal amount (or if Incurred
with original issue discount, an aggregate issue price) that is equal to or less than the
aggregate principal amount (or if Incurred with original issue discount, the aggregate
accreted value) then outstanding or committed (plus fees and expenses, including any premium
and defeasance costs) under the Indebtedness being Refinanced;

provided, further, however, that Refinancing Indebtedness shall not include (A) Indebtedness of a
Restricted Subsidiary that Refinances Indebtedness of the Company or (B) Indebtedness of the
Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary.

“Related Business” means any business in which the Company or any of its Restricted was
engaged on the Issue Date and any business reasonably related, ancillary or complementary to any
business of the Company or any of its Restricted Subsidiaries in which the Company or any of its
Restricted Subsidiaries was engaged on the Issue Date or a reasonable expansion thereof.

“Replacement AMI Notes” means the notes, if any, issued in exchange for the Securities, as
contemplated by Section 6.1 of the Purchase Agreement.

“Representative” means with respect to a Person any trustee, agent or representative (if any)
for an issue of Senior Indebtedness of such Person.

“Restricted Payment” with respect to any Person means:

(1) the declaration or payment of any dividends or any other distributions of any sort
in respect of its Capital Stock (including any payment in connection with any merger or
consolidation involving such Person) or similar payment to the direct or indirect holders of
its Capital Stock (other than dividends or distributions payable solely

 

21

 

in its Capital Stock (other than Disqualified Stock) and dividends or distributions
payable solely to the Company or a Restricted Subsidiary);

(2) the purchase, redemption or other acquisition or retirement for value of any
Capital Stock of the Company held by any Person or of any Capital Stock of a Restricted
Subsidiary held by any Affiliate of the Company (other than a Restricted Subsidiary),
including the exercise of any option to exchange any Capital Stock (other than into Capital
Stock of the Company that is not Disqualified Stock);

(3) the purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund
payment of any Subordinated Obligations of such Person (other than the purchase, repurchase
or other acquisition of Subordinated Obligations purchased in anticipation of satisfying a
sinking fund obligation, principal installment or final maturity, in each case due within
one year of the date of such purchase, repurchase or other acquisition); or

(4) the making of any Investment (other than a Permitted Investment) in any Person.

“Restricted Subsidiary” means any Subsidiary of the Company that is not an Unrestricted
Subsidiary.

“Sale/Leaseback Transaction” means an arrangement relating to property owned by the Company or
a Restricted Subsidiary on the Issue Date or thereafter acquired by the Company or a Restricted
Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person and
the Company or a Restricted Subsidiary leases it from such Person.

“SEC” means the U.S. Securities and Exchange Commission.

“Secured Indebtedness” means any Indebtedness of the Company or a Subsidiary Guarantor for
borrowed money that is secured by a Lien on assets of the Company or a Subsidiary Guarantor.

“Securities Act” means the U.S. Securities Act of 1933, as amended.

“Senior” means, in relation to the Securities, that the specified other Indebtedness (x) is
either unsecured or, if the Securities become Secured Indebtedness, secured by a Lien junior to the
Securities pursuant to customary “silent junior lien” intercreditor arrangements satisfactory to
the holders of a majority in principal amount of the Securities (provided that any intercreditor
arrangements that are accepted by the majority of the holders of the AMI Exchange Notes shall be
deemed satisfactory to the holders of the Securities), (y) is subordinated in right of payment to
the Securities on subordination terms no less favorable to the Holders in any material respect than
those contained in Article 10 in respect of the Securities, and (z) has no scheduled principal
payments earlier than October 15, 2012.

“Senior Indebtedness” means with respect to any Person:

 

22

 

(1) Indebtedness of such Person, whether outstanding on the Issue Date or thereafter
Incurred, including, and together with, all Obligations under the Credit Facilities; and

(2) accrued and unpaid interest (including interest accruing on or after the filing of,
or which would have accrued but for the filing of, any petition in bankruptcy or for
reorganization relating to such Person whether or not post-filing interest is allowed in
such proceeding) in respect of (A) indebtedness of such Person for borrowed money,
including, and together with, all Obligations under the Credit Facilities, (B) Hedging
Obligations and (C) indebtedness evidenced by notes, debentures, bonds or other similar
instruments for the payment of which such Person is responsible or liable

unless, in the case of clauses (1) and (2), in the instrument creating or evidencing the same or
pursuant to which the same is outstanding, it is expressly provided that such obligations are
subordinate or pari passu in right of payment to the Securities or the Guaranty of such Person, as
the case may be; provided, however, that Senior Indebtedness shall not include

(1) any obligation of such Person to any Subsidiary;

(2) any liability for Federal, state, local or other taxes owed or owing by such
Person;

(3) any accounts payable or other liability to trade creditors arising in the ordinary
course of business including guarantees thereof or instruments evidencing such liabilities);

(4) any Indebtedness of such Person (and any accrued and unpaid interest in respect
thereof) which is subordinate or junior in any respect to any other Indebtedness or other
obligation of such Person; or

(5) that portion of any Indebtedness which at the time of Incurrence is Incurred in
violation of this Indenture, except to the extent that the Indebtedness so incurred was
extended by the lenders thereof in reliance on a certificate executed and delivered by the
president, chief executive officer or chief financial or accounting officer of the Company
in which certificate such officer certified that the incurrence of such Indebtedness was
permitted under the proviso in clause (1) in paragraph (b) of Section 4.03.

“Senior Subordinated Indebtedness” means, with respect to a Person, the Securities and the
Existing AMI Notes (in the case of the Company), each Guaranty and each Guarantee under the
Existing AMI Notes (in the case of the applicable Subsidiary Guarantor) and any other Indebtedness
of such Person that specifically provides that such Indebtedness is to rank pari passu with the
Securities or such Guaranty, as the case may be, in right of payment and is not subordinated by its
terms in right of payment to any Indebtedness or other obligation of such Person which is not
Senior Indebtedness of such Person.

 

23

 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the
SEC.

“Simon Acquisition Corp.” means Simon Acquisition Corp., a Delaware corporation.

“Stated Maturity” means, with respect to any security, the date specified in such security as
the fixed date on which the final payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision (but excluding any provision providing for
the repurchase of such security at the option of the holder thereof upon the happening of any
contingency unless such contingency has occurred).

“Stock Purchase Agreement” means the Stock Purchase Agreement, dated as of December 5, 2004,
among AMH, Harvest Partners, Inc., the other sellers named therein, AM Holding Limited, AM Equity
Limited, AM Investments Limited, Associated Equity Limited and Associated Investments Limited.

“Subordinated Obligation” means, with respect to a Person, any Indebtedness of such Person
(whether outstanding on the Issue Date or thereafter Incurred) which is subordinate or junior in
right of payment to the Securities or a Guaranty of such Person, as the case may be, pursuant to a
written agreement to that effect.

“Subordinated Securities Obligations” means all Obligations with respect to the Securities,
including principal, premium (if any), interest payable pursuant to the terms of the Securities
(including upon the acceleration or redemption thereof), together with and including any amounts
received or receivable upon the exercise of rights of rescission or other rights of action
(including claims for damages) or otherwise.

“Subsidiary” means, with respect to any Person, any corporation, association, partnership or
other business entity of which more than 50% of the total voting power of shares of Voting Stock is
at the time owned or controlled, directly or indirectly, by

(1) such Person;

(2) such Person and one or more Subsidiaries of such Person; or

(3) one or more Subsidiaries of such Person.

“Subsidiary Guarantor” means each domestic Subsidiary of the Company that executes this
Indenture as a guarantor on the Issue Date and each other domestic Subsidiary of the Company that
thereafter guarantees the Securities pursuant to the terms of this Indenture.

“Subsidiary Guaranty” means a Guarantee by a Subsidiary Guarantor of the Company’s obligations
with respect to the Securities.

“Temporary Cash Investments” means any of the following:

 

24

 

(1) any investment in direct obligations of the United States of America or any agency
thereof or obligations guaranteed by the United States of America or any agency thereof;

(2) investments in time deposit accounts, certificates of deposit and money market
deposits maturing within 365 days of the date of acquisition thereof issued by a bank or
trust company which is organized under the laws of the United States of America, any State
thereof or any foreign country recognized by the United States of America, and which bank or
trust company has capital, surplus and undivided profits aggregating in excess of $50.0
million (or the foreign currency equivalent thereof) and has outstanding debt which is rated
“A” (or such similar equivalent rating) or higher by at least one nationally recognized
statistical rating organization (as defined in Rule 436 under the Securities Act) or any
money-market fund sponsored by a registered broker dealer or mutual fund distributor;

(3) repurchase obligations with a term of not more than 30 days for underlying
securities of the types described in clause (1) above entered into with a bank meeting the
qualifications described in clause (2) above;

(4) investments in commercial paper, maturing not more than 365 days after the date of
acquisition, issued by a corporation (other than an Affiliate of the Company) organized and
in existence under the laws of the United States of America or any foreign country
recognized by the United States of America with a rating at the time as of which any
investment therein is made of “P-l” (or higher) according to Moody’s Investors Service, Inc.
or “A-l” (or higher) according to Standard & Poor’s Ratings Group;

(5) investments in securities with maturities of one year or less from the date of
acquisition issued or fully guaranteed by any state, commonwealth or territory of the United
States of America, or by any political subdivision or taxing authority thereof, and rated at
least “A” by Standard & Poor’s Ratings Group or “A” by Moody’s Investors Service, Inc.; and

(6) money market funds at least 95% of the assets of which constitute Temporary Cash
Investments of the kind described in clauses (1) through (5) of this definition.

“TIA” means the Trust Indenture Act of 1939, as amended, (15 U.S.C. Sections 77aaa-77bbbb) as
in effect on the date of this Indenture, except as provided in Section 9.03.

“Transactions” means, collectively, the Merger, the Equity Tender Offer, the Note Tender
Offer, the Equity Financing, the Bank Facilities and the Offering.

“Trust Officer” means any officer of the Trustee having direct responsibility for the
administration of this Indenture and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of their knowledge of and
familiarity with the particular subject.

 

25

 

“Trustee” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor.

“Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to
time.

“Unrestricted Subsidiary” means:

(1) any Subsidiary of an Unrestricted Subsidiary; and

(2) any Subsidiary of the Company which is designated after the Issue Date as an
Unrestricted Subsidiary by a board resolution of the Board of Directors of the Company;
provided that a Subsidiary may be so designated as an Unrestricted Subsidiary only if:

(A) such designation is in compliance with Section 4.04;

(B) immediately after giving effect to such designation, the Company could have
incurred at least $1.00 of additional Indebtedness (other than Permitted
Indebtedness) pursuant to Section 4.03;

(C) no Default or Event of Default has occurred and is continuing or results
therefrom; and

(D) neither the Company nor any Restricted Subsidiary will at any time

(i) provide a guarantee of, or similar credit support to, any
Indebtedness of such Subsidiary (including any undertaking, agreement or
instrument evidencing such Indebtedness),

(ii) be directly or indirectly liable for any Indebtedness of such
Subsidiary or

(iii) be directly or indirectly liable for any other Indebtedness which
provides that the holder thereof may (upon notice, lapse of time or both)
declare a default thereon (or cause the payment thereof to be accelerated or
payable prior to its final scheduled maturity) upon the occurrence of a
default with respect to any other Indebtedness that is Indebtedness of such
Subsidiary (including any corresponding right to take enforcement action
against such Subsidiary),

except in the case of clause (i) or (ii) to the extent

(i) that the Company or such Restricted Subsidiary could otherwise provide such a
guarantee or incur such Indebtedness (other than as Permitted Indebtedness) pursuant to
Section 4.03 and

 

26

 

(ii) the provision of such guarantee and the incurrence of such Indebtedness otherwise
would be permitted under Section 4.04.

The Trustee will be provided with an Officers’ Certificate stating that such designation is
permitted and setting forth the basis upon which the calculations required by this definition were
computed, together with a copy of the board resolution adopted by the Board of Directors of the
Company making such designation.

The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that immediately after giving effect to such designation
(A) the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a) and (B) no
Default shall have occurred and be continuing. Any such designation by the Board of Directors of
the Company shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the
resolution of the Board of Directors of the Company giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the foregoing provisions.

“U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other than
U.S. dollars, at any time for determination thereof, the amount of U.S. dollars obtained by
converting such foreign currency involved in such computation into U.S. dollars at the spot rate
for the purchase of U.S. dollars with the applicable foreign currency as published in The Wall
Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two
Business Days prior to such determination.

Except as described in Section 4.03, whenever it is necessary to determine whether the Company
has complied with any covenant in this Indenture or a Default has occurred and an amount is
expressed in a currency other than U.S. dollars, such amount will be treated as the U.S. Dollar
Equivalent determined as of the date such amount is initially determined in such currency.

“U.S. Government Obligations” means direct obligations (or certificates representing an
ownership interest in such obligations) of the United States of America (including any agency or
instrumentality thereof) for the payment of which the full faith and credit of the United States of
America is pledged and which are not callable at the issuer’s option.

“Voting Stock” of a Person means all classes of Capital Stock or other interests (including
partnership interests) of such Person then outstanding and normally entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof.

“Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of which (other
than directors’ qualifying shares and other legally required qualifying shares) is owned by the
Company or one or more Wholly Owned Subsidiaries.

SECTION
1.02. Other Definitions

Defined in

 

27

 

	 	 	 	 	 
	Term	 	Section	 
	 
	“Affiliate Transaction”
	 	 	4.07	 
	“Bankruptcy Law”
	 	 	6.01	 
	“Blockage Notice”
	 	 	10.03	 
	“Blocker Carveout Transfers”
	 	 	4.13	 
	“covenant defeasance option”
	 	 	8.01	(b)
	“Custodian”
	 	 	6.01	 
	“Event of Default”
	 	 	6.01	 
	“legal defeasance option”
	 	 	8.01	(b)
	“Legal Holiday”
	 	 	13.08	 
	“pay its Subsidiary Guaranty”
	 	 	12.03	 
	“pay the Securities”
	 	 	10.03	 
	“Payment Blockage Period”
	 	 	10.03	 
	“Payment Default”
	 	 	10.03, 12.03	 
	“Permitted Indebtedness”
	 	 	4.03	(b)
	“Registrar”
	 	 	2.03	 
	“Subsidiary Guaranty Blockage Notice”
	 	 	12.03	 
	“Subsidiary Guaranty Payment Blockage Period”
	 	 	12.03	 
	“Successor Company”
	 	 	5.01	(a)(1)

SECTION 1.03. TIA Provisions. This Indenture is subject to the mandatory provisions of the
TIA which are incorporated by reference in and made a part of this Indenture. The following TIA
terms have the following meanings:

“Commission” means the SEC;

“indenture securities” means the Securities;

“indenture security holder” means a Securityholder;

“indenture to be qualified” means this Indenture;

“indenture trustee” or “institutional trustee” means the Trustee; and

“obligor” on this Indenture securities means the Company and any other obligor on this
Indenture securities.

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by SEC rule have the meanings assigned to them by such
definitions.

SECTION 1.04. Rules of Construction. Unless the context otherwise requires:

(1) a term has the meaning assigned to it;

 

28

 

(2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

(3) “or” is not exclusive;

(4) “including” means including without limitation;

(5) words in the singular include the plural and words in the plural include the
singular;

(6) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured
Indebtedness merely by virtue of its nature as unsecured Indebtedness;

(7) the principal amount of any noninterest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the
issuer dated such date prepared in accordance with GAAP;

(8) the principal amount of any Preferred Stock shall be (i) the maximum liquidation
value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory
repurchase price with respect to such Preferred Stock, whichever is greater;

(9) all references to the date the Securities were originally issued shall refer to the
Issue Date; and

(10) any reference to an agreement or other document “as amended” shall include
supplements, waivers and other modifications.

ARTICLE 2

The Securities

SECTION 2.01. Form and Dating. Provisions relating to the Securities are set forth in the
Rule 144A/Regulation S Appendix attached hereto (the “Appendix”) which is hereby incorporated in
and expressly made part of this Indenture. The Securities and the Trustee’s certificate of
authentication shall be substantially in the form of Exhibit 1 to the Appendix which is hereby
incorporated in and expressly made a part of this Indenture. The Securities may have notations,
legends or endorsements required by law, stock exchange rule, agreements to which the Company is
subject, if any, or usage (provided that any such notation, legend or endorsement is in a form
acceptable to the Company). Each Security shall be dated the date of its authentication. The
terms of the Securities set forth in the Appendix and Exhibit A are part of the terms of this
Indenture.

SECTION 2.02. Execution and Authentication. Two Officers shall sign the Securities for the
Company by manual or facsimile signature.

If an Officer whose signature is on a Security no longer holds that office at the time the
Trustee authenticates the Security, the Security shall be valid nevertheless.

 

29

 

A Security shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the Security. The signature shall be conclusive evidence that the
Security has been duly and validly authenticated and issued under this Indenture.

The Trustee may appoint an authenticating agent reasonably acceptable to the Company to
authenticate the Securities. Unless limited by the terms of such appointment, an authenticating
agent may authenticate Securities whenever the Trustee may do so. Upon receipt of a Company Order,
the Trustee or authenticating agent shall authenticate the Securities for original issue up to the
aggregate principal amount stated in the Securities. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as any Registrar, Paying Agent or agent for service of notices and demands.

SECTION 2.03. Registrar and Paying Agent. The Company shall maintain an office or agency
where Securities may be presented for registration of transfer or for exchange (the “Registrar”)
and an office or agency where Securities may be presented for payment (the “Paying Agent”). The
Registrar shall keep a register of the Securities and of their transfer and exchange. The Company
may have one or more co-registrars and one or more additional paying agents. The term “Paying
Agent” includes any additional paying agent.

The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent
or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. The
agreement shall implement the provisions of this Indenture that relate to such agent. The Company
shall notify the Trustee of the name and address of any such agent. If the Company fails to
maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to
appropriate compensation therefor pursuant to Section 7.07. The Company or any Wholly Owned
Subsidiary incorporated or organized within The United States of America may act as Paying Agent,
Registrar, co-registrar or transfer agent.

To the extent that any Global Securities are issued hereunder, the Company initially appoints
The Depository Trust Company (“DTC”) to act as Depositary with respect to any such Global
Securities.

The Company initially appoints the Trustee as Registrar and Paying Agent in connection with
the Securities.

SECTION 2.04. Paying Agent to Hold Money in Trust. Prior to each due date of the principal
and interest on any Security, the Company shall deposit with the Paying Agent a sum sufficient to
pay such principal or interest when so becoming due. The Company shall require each Paying Agent
(other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the
benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of
principal of or interest on the Securities and shall notify the Trustee of any default by the
Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall
segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company
at any time may require a Paying Agent to pay all money held by it to the Trustee and to account
for any funds disbursed by the Paying Agent. Holders must present and surrender Securities to a
Paying Agent to collect final principal payment. Upon complying

 

30

 

with this Section, the Paying Agent shall have no further liability for the money delivered to
the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the
Company, the Trustee shall serve as Paying Agent for the Securities.

SECTION 2.05. Securityholder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of
Securityholders that complies with TIA Section 312(a). If the Trustee is not the Registrar, the
Company shall furnish to the Trustee, in writing at least five Business Days before each interest
payment date and at such other times as the Trustee may request in writing, a list in such form and
as of such date as the Trustee may reasonably require of the names and addresses of
Securityholders.

SECTION 2.06. Transfer and Exchange. (a) The Securities shall be issued in registered form
and shall be transferable only upon the surrender of a Security for registration of transfer. When
a Security is presented to the Registrar or a co-registrar with a request to register a transfer,
the Registrar shall promptly inform the Company of such request. Within 2 Business Days of such
notice, the Company shall provide written confirmation to the Registrar that the transfer is
permitted pursuant to the terms of clause (c) below. Upon receipt of such notice by the Registrar
and a Security duly executed by the Company, the Registrar shall register the transfer if the other
requirements of this Indenture and Section 8-401(1) of the Uniform Commercial Code are met. When
Securities are presented to the Registrar or a co-registrar with a request to exchange them for an
equal principal amount of Securities of other denominations, the Registrar shall make the exchange
as requested if the same requirements are met.

(b) The Company shall not be obligated to effect the transfer of any Security unless the
transferee of such Security has agreed to be bound by Section 6.1(a) of the Purchase Agreement.

(c) The Company shall not be obligated to effect the transfer of any Security to any
Competitor of the Company or any of its Subsidiaries unless an Event of Default of a type described
in clauses (1), (2), (7) or (8) of Section 6.01 exists. For the purposes of this Indenture a
“Competitor” of the Company or any of its Subsidiaries shall include (i) any Person which
manufactures products directly or indirectly competitive with the products manufactured by the
Company or any of its Subsidiaries or (ii) any Person which sells or otherwise distributes products
directly or indirectly competitive with the products manufactured by the Company or any of its
Subsidiaries or (iii) any Affiliate of any of the Persons described in the immediately preceding
clause (i) or (ii) (other than Affiliates that are investment funds), in each case as reasonably
determined by the Board of Directors of the Company.

SECTION 2.07. Replacement Securities. If a mutilated Security is surrendered to the Registrar
or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully
taken, the Company shall issue and the Trustee shall authenticate a replacement Security if the
requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any
other reasonable requirements of the Trustee. Such Holder shall furnish an indemnity bond
sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the
Paying Agent, the Registrar and any co-registrar from any loss

 

31

 

which any of them may suffer if a Security is replaced. The Company and the Trustee may
charge the Holder for their expenses in replacing a Security.

Every replacement Security is an additional obligation of the Company.

SECTION 2.08. Outstanding Securities. Securities outstanding at any time are all Securities
authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation and those described in this Section as not outstanding. A Security does not cease to
be outstanding because the Company or an Affiliate of the Company holds the Security.

If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the
Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a
protected purchaser.

If the principal amount of and interest due on any Security is considered paid under Section
4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue.

If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
redemption date or maturity date money sufficient to pay all principal and interest payable on that
date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case
may be, and the Paying Agent is not prohibited from paying such money to the Securityholders on
that date pursuant to the terms of this Indenture, then on and after that date such Securities (or
portions thereof) cease to be outstanding and interest on them ceases to accrue.

SECTION 2.09. Temporary Securities. Until definitive Securities are ready for delivery, the
Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities
shall be substantially in the form of definitive Securities but may have variations that the
Company considers appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate definitive Securities and deliver them in exchange
for temporary Securities. After the preparation of definitive Securities, the temporary Securities
shall be exchangeable for such definitive Securities upon surrender of such temporary Securities at
any office or agency maintained by the Company for that purpose and such exchange shall be without
charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the
Company shall execute, and the Trustee shall authenticate and make available for delivery in
exchange therefor, one or more definitive Securities representing an equal principal amount of
Securities. Until so exchanged, the Holder of temporary Securities shall be entitled to the same
benefits under this Indenture as a Holder of definitive Securities.

SECTION 2.10. Cancellation. The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel (subject to the record retention requirements of the Exchange Act) all Securities
surrendered for registration of transfer, exchange, payment or cancellation. The Trustee shall
dispose of such cancelled Securities in accordance with its customary procedures. The Company may
not issue new Securities to replace Securities it has

 

32

 

redeemed, paid or delivered to the Trustee for cancellation for any reason other than in
connection with a transfer or exchange.

SECTION 2.11. Defaulted Interest. If the Company defaults in a payment of interest on the
Securities, the Company shall pay defaulted interest (plus interest on such defaulted interest to
the extent lawful) in any lawful manner. The Company may pay the defaulted interest to the persons
who are Securityholders on a subsequent special record date. The Company shall fix or cause to be
fixed any such special record date and payment date to the reasonable satisfaction of the Trustee
and shall promptly mail to each Securityholder a notice that states the special record date, the
payment date and the amount of defaulted interest to be paid.

SECTION 2.12. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers
(if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of
redemption as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Securities or
as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall not be affected by
any defect in or omission of such numbers. The Company shall promptly notify the Trustee in
writing of any change in the “CUSIP” numbers.

ARTICLE 3

Redemption

SECTION 3.01. Notices to Trustee. If the Company elects to redeem Securities pursuant to
paragraph 5 of the Securities, it shall notify the Trustee in writing of the redemption date, the
principal amount of Securities to be redeemed and the paragraph of the Securities pursuant to which
the redemption will occur.

Except as required under Section 3.07, the Company shall give each notice to the Trustee
provided for in this Section at least 45 days before the redemption date unless the Trustee
consents to a shorter period. Such notice shall be accompanied by an Officers’ Certificate from
the Company to the effect that such redemption will comply with the conditions herein.

SECTION 3.02. Selection of Securities To Be Redeemed. If fewer than all the Securities are to
be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by a
method that complies with applicable legal and securities exchange requirements, if any, and that
the Trustee in its sole discretion shall deem to be fair and appropriate and in accordance with
methods generally used at the time of selection in similar circumstances. The Trustee shall make
the selection from outstanding Securities not previously called for redemption. The Trustee may
select for redemption portions of the principal of Securities that have denominations larger than
$1,000. Securities and portions of them the Trustee selects shall be in principal amounts of
$1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to Securities called
for redemption also apply to portions of

 

33

 

Securities called for redemption. The Trustee shall notify the Company promptly in writing of
the Securities or portions of Securities to be redeemed.

SECTION 3.03. Notice of Redemption. At least 30 days but not more than 60 days before a date
for redemption of Securities, the Company shall mail a notice of redemption by first-class mail to
each Holder of Securities to be redeemed at such Holder’s registered address.

The notice shall identify the Securities to be redeemed (including CUSIP numbers, if
applicable) and shall state:

(1) the redemption date;

(2) the redemption price;

(3) the name and address of the Paying Agent;

(4) that Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

(5) if fewer than all the outstanding Securities are to be redeemed, the identification
and principal amounts of the particular Securities to be redeemed;

(6) that, unless the Company defaults in making such redemption payment or the Paying
Agent is prohibited from making such payment pursuant to the terms of this Indenture,
interest on Securities (or portion thereof) called for redemption ceases to accrue on and
after the redemption date; and

(7) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Securities.

At the Company’s written request, the Trustee shall give the notice of redemption in the
Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee
with the information required by this Section.

SECTION 3.04. Effect of Notice of Redemption . Once notice of redemption is mailed,
Securities called for redemption become due and payable on the redemption date and at the
redemption price stated in the notice. Upon surrender to the Paying Agent, such Securities shall
be paid at the redemption price stated in the notice, plus accrued interest to the redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
the related interest payment date). Failure to give notice or any defect in the notice to any
Holder shall not affect the validity of the notice to any other Holder.

SECTION 3.05. Deposit of Redemption Price. Prior to the redemption date, the Company shall
deposit with the Trustee or Paying Agent (or, if the Company or a Subsidiary is the Paying Agent,
shall segregate and hold in trust) a sum sufficient to pay the redemption price of and accrued
interest on all Securities to be redeemed on the redemption date other than Securities or portions
of Securities called for redemption which have been delivered by the

 

34

 

Company to the Trustee for cancellation. The Trustee or the Paying Agent will promptly return
to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of
the amounts necessary to pay the redemption price of, and accrued interest, if any, on all
Securities to be redeemed.

SECTION 3.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in
part (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument
of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder
thereof), the Company shall execute and the Trustee shall authenticate and deliver to the Holder of
that Security (at the Company’s expense) a new Security equal in principal amount to the unredeemed
portion of the principal amount of the Security surrendered.

ARTICLE 4

Covenants

SECTION 4.01. Payment of Securities. The Company shall promptly pay the principal of and
interest on the Securities on the dates and in the manner provided in the Securities and in this
Indenture. Principal and interest shall be considered paid on the date due if on such date the
Trustee or the Paying Agent holds in accordance with this Indenture money sufficient to pay all
principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not
prohibited from paying such money to the Securityholders on that date pursuant to the terms of this
Indenture.

The Company shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful.

SECTION 4.02. SEC Reports. Notwithstanding that the Company may not be subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with the
SEC (unless the SEC will not accept such a filing and commencing with the effectiveness of the
Exchange Offer or Shelf Registration Statement) and will in any event provide the Trustee and
Securityholders within 15 days after it files with the SEC with such annual reports and such
information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange
Act and applicable to a U.S. corporation subject to such Sections, such information, documents and
other reports to be so filed and provided at the times specified for the filing of such
information, documents and reports under such Sections; provided, however, that the Company shall
not be so obligated to file such reports with the SEC, if the SEC does not permit such filing, in
which event the Company will make available such information to the Trustee and Securityholders
within 15 days after the time the Company would be required to file such information with the SEC
if it were subject to Section 13 or 15(d) of the Exchange Act. In addition, the Company shall
furnish to the Holder of the Securities and to prospective investors, upon the requests of such
Holders, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities
Act so long as the Securities are not freely transferable under the Securities Act. The Company
also shall comply with the other provisions of TIA Section 314(a).

 

35

 

Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on an Officers’ Certificate).

SECTION 4.03. Limitations on Indebtedness. (a) Subject to Section 4.13, the Company shall
not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any
Indebtedness; provided, however, that subject to subsections (c), (d) and (e) below, the Company
and its Restricted Subsidiaries shall be entitled to Incur Indebtedness if, on the date of such
Incurrence and after giving effect thereto on a pro forma basis, no Default has occurred and is
continuing and the Consolidated Coverage Ratio exceeds 2 to 1.

(b) Notwithstanding the foregoing subsection (a) but subject to subsections (c), (d) and (e)
below, the Company and the Restricted Subsidiaries shall be entitled to Incur any or all of the
following Indebtedness (“Permitted Indebtedness”):

(1) Indebtedness Incurred by the Company and its Restricted Subsidiaries pursuant to
Credit Facilities; provided, however, that, immediately after giving effect to any such
Incurrence, the aggregate principal amount of all Indebtedness Incurred under this clause
(1) and then outstanding does not exceed the greater of (A) $215.0 million and (B) the sum
of (x) 65% of the book value of the inventory of the Company and its Restricted Subsidiaries
and (y) 85% of the book value of the accounts receivable of the Company and its Restricted
Subsidiaries;

(2) Indebtedness owed to and held by the Company or a Restricted Subsidiary; provided,
however, that (A) any subsequent issuance or transfer of any Capital Stock which results in
any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent
transfer of such Indebtedness (other than to the Company or a Restricted Subsidiary or to
the holder of a Lien permitted under this Indenture) shall be deemed, in each case, to
constitute the Incurrence of such Indebtedness by the obligor thereon and (B) if the Company
is the obligor on such Indebtedness and the holders of Indebtedness under the Credit
Facilities do not have a security interest therein or the obligee is a Restricted Subsidiary
that is not a Guarantor, such Indebtedness is expressly subordinated to the prior payment in
full in cash of all obligations with respect to the Securities;

(3) the Securities and related Guarantees;

(4) Indebtedness outstanding on the Issue Date (other than Indebtedness described in
clause (1) or (3) of this Section 4.03(b));

(5) Refinancing Indebtedness;

(6) Hedging Obligations of the Company or any Restricted Subsidiary not for the purpose
of speculation;

 

36

 

(7) obligations in respect of letters of credit, performance, bid, surety, appeal and
other similar bonds and completion guarantees, payment obligations in connection with
self-insurance or similar requirements provided by the Company or any Restricted Subsidiary
in the ordinary course of business;

(8) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument drawn against insufficient funds in the ordinary course
of business; provided, however, that such Indebtedness is extinguished within five Business
Days of its Incurrence;

(9) Indebtedness (including Capital Lease Obligations) Incurred by the Company or any
of its Restricted Subsidiaries to finance the purchase, lease, construction or improvement
of property (real or personal) or equipment (whether through the direct purchase of assets
or the Capital Stock of any Person owning such assets) within 180 days after such purchase,
lease, construction or improvement in an aggregate principal amount which, when added
together with the amount of Indebtedness Incurred pursuant to this clause (9) and then
outstanding, does not exceed $5.0 million (including any Refinancing Indebtedness with
respect thereto);

(10) Indebtedness Incurred and outstanding on or prior to the date on which such Person
was acquired by the Company or any Restricted Subsidiary or assumed by the Company or a
Restricted Subsidiary at the time of acquisition of all or any portion of the assets (or any
business or product line of another Person) (other than Indebtedness Incurred in connection
with or to provide all or any portion of the funds or credit support utilized to consummate,
the transaction or series of related transactions pursuant to which such Subsidiary became a
Restricted Subsidiary or was acquired by the Company); provided, however, at the time of
such acquisition and after giving effect thereto, the aggregate principal amount of all
Indebtedness Incurred pursuant to this clause (10) and then outstanding does not exceed $5.0
million;

(11) any Guarantee (including the Subsidiary Guaranties) by the Company or a Restricted
Subsidiary of Indebtedness or other obligations of the Company or any of its Restricted
Subsidiaries so long as the Incurrence of such Indebtedness by the Company or such
Restricted Subsidiary is permitted under the terms of this Indenture;

(12) Indebtedness arising from agreements of the Company or a Restricted Subsidiary of
the Company providing for indemnification, adjustment of purchase price, earn out or other
similar obligations, in each case, Incurred or assumed in connection with the disposition or
acquisition of any business, assets or a Restricted Subsidiary of the Company;

(13) Indebtedness of the Company or of any of its Restricted Subsidiaries in an
aggregate principal amount which, when taken together with all other Indebtedness of the
Company and its Restricted Subsidiaries outstanding on the date of such Incurrence (other
than Indebtedness permitted by clauses (1) through (12) above or paragraph (a)), does not
exceed $12.5 million; and

 

37

 

(14) Indebtedness of the Company or any of its Restricted Subsidiaries Incurred
pursuant to the Note Refinancing, provided that the Note Refinancing Conditions are
satisfied on the date of any such Incurrence and, to the extent applicable, subject to the
limitations in Section 4.03(b)(1).

(c) Notwithstanding the foregoing, neither the Company nor any Subsidiary Guarantor shall
Incur any Indebtedness pursuant to Section 4.03(b) (other than (b)(1) above) if the proceeds
thereof are used, directly or indirectly, to Refinance any Subordinated Obligations of the Company
or any Subsidiary Guarantor unless such Indebtedness shall be subordinated to the Securities or the
applicable Subsidiary Guaranty to at least the same extent as such Subordinated Obligations.

(d) Notwithstanding Sections 4.03(a) and 4.03(b) above, neither the Company nor any Subsidiary
Guarantor shall Incur (1) any Indebtedness if such Indebtedness is subordinate in right of payment
to any Senior Indebtedness of the Company or such Subsidiary Guarantor, as applicable, unless such
Indebtedness is Senior Subordinated Indebtedness or is expressly subordinated in right of payment
to Senior Subordinated Indebtedness of the Company or such Subsidiary Guarantor, as applicable, or
(2) any Secured Indebtedness (for borrowed money including Capital Lease Obligations) that is not
Senior Indebtedness of such Person (other than Indebtedness solely between or among the Company and
a Subsidiary Guarantor or between or among the Subsidiary Guarantors) unless contemporaneously
therewith such Person makes effective provision to secure the Securities or the relevant Subsidiary
Guaranty, as applicable, equally and ratably with or senior to such Secured Indebtedness for so
long as such Secured Indebtedness is secured by a Lien; provided, however, that nothing in this
Indenture shall limit Liens to secure Indebtedness (including Liens securing Indebtedness that is
not Senior Indebtedness) Incurred pursuant to any Note Refinancing so long as the requirements of
clause (e) below are satisfied.

(e) Notwithstanding Sections 4.03(a) and 4.03(b) above, the Company shall not, and shall not
permit any Restricted Subsidiary to, Incur (1) any AMI Exchange Notes unless the Company shall have
taken such steps as may be necessary so that the Securities shall be Pari Passu with such AMI
Exchange Notes, (2) any AMH Exchange Notes unless the Company shall have taken such steps as may be
necessary so that the Securities shall be Senior to such AMH Exchange Notes, (3) any Indebtedness
under Section 4.03(a) or 4.03(b)(13), unless the Company shall have taken such steps as may be
necessary so that the Securities shall be Senior to such Indebtedness, or (4) any Indebtedness
permitted by Section 4.03(a) or 4.03(b) (other than Indebtedness permitted by Section 4.03(b)(1),
Section 4.03(b)(4) (only to the extent such Indebtedness constitutes Senior Indebtedness), Section
4.03(b)(5) through Section 4.03(b)(11) (in the case of Section 4.03(b)(11), only to the extent the
guaranteed Indebtedness constitutes Senior Indebtedness) and Section 4.03(b)(12)), if the
Securities would be Junior to such Indebtedness; provided that if the Securities become Secured
Indebtedness, the Securities shall be secured by all collateral securing Indebtedness under the
Credit Facilities Incurred pursuant to Section 4.03(b)(1) by a Lien that is second in priority to
the Lien securing such Indebtedness and subject to no other prior Liens (other than Liens permitted
under such Credit Facilities to be prior to the Liens securing such Indebtedness) and such Credit
Facilities shall not contain any “last out” tranche arrangements. It is understood that consent of
the lenders under the Credit Agreement would be required for the Securities to become Secured
Indebtedness and that such

 

38

 

lenders may condition such consent on, among other things, the terms and conditions of such
security arrangements, including with respect to an intercreditor agreement, being in form and
substance satisfactory to the lenders or agent, as applicable, under the Credit Agreement (but for
the avoidance of doubt any failure to obtain such consent shall not excuse any breach under this
Section 4.03(e) that would result if the Company permits any such other Indebtedness referred to
above in this Section 4.03(e) to become Secured Indebtedness without causing the Securities to
become Secured Indebtedness in accordance with, and to the extent required by, the provisions of
this Section 4.03(e)). At the request of the Company, the Trustee shall enter into such
intercreditor agreements and other documents on behalf of the Holders as may be requested by the
Company to give effect to the foregoing provisions, provided the Trustee receives, and upon which
such Trustee shall be entitled to conclusively rely, an Officers’ Certificate and an Opinion of
Counsel to the effect that all conditions precedent to the obligation to enter into such documents
hereunder have been satisfied.

(f) For purposes of determining compliance with this covenant, (1) in the event that an item
of Indebtedness meets the criteria of more than one of the types of Indebtedness described above,
the Company, in its sole discretion, will classify such item of Indebtedness at the time of
Incurrence and only be required to include the amount and type of such Indebtedness in one of the
above clauses and (2) the Company will be entitled to divide and classify an item of Indebtedness
in more than one of the types of Indebtedness described above and (3) the Company will be entitled
from time to time to reclassify any Indebtedness Incurred pursuant to any clause in paragraph (b)
above such that it will be deemed as having been Incurred under another clause in paragraph (b).
Accrual of interest, accretion or amortization of original issue discount, the payment of interest
on any Indebtedness in the form of additional Indebtedness with the same terms, the payment of
dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified
Stock and change in the amount outstanding due solely to the result of fluctuations in the exchange
rates of currencies will not be deemed to be an incurrence of Indebtedness or an issuance of
Disqualified Stock for purposes of this Section 4.03; provided, however, that all outstanding
Indebtedness incurred as of the date hereof under the Credit Facilities shall be deemed to have
been incurred pursuant to Section 4.03(b)(1) above.

(g) For purposes of determining compliance with any U.S. dollar restriction on the Incurrence
of Indebtedness where the Indebtedness Incurred is denominated in a different currency, the amount
of such Indebtedness shall be the U.S. Dollar Equivalent determined on the date of the Incurrence
of such Indebtedness, provided, however, that if any such Indebtedness denominated in a different
currency is subject to a Currency Agreement with respect to U.S. dollars covering all principal,
premium, if any, and interest payable on such Indebtedness, the amount of such Indebtedness
expressed in U.S. dollars shall be as provided in such Currency Agreement. The principal amount of
any Refinancing Indebtedness Incurred in the same currency as the Indebtedness being Refinanced
shall be the U.S. Dollar Equivalent of the Indebtedness Refinanced, except to the extent that (1)
such U.S. Dollar Equivalent was determined based on a Currency Agreement, in which case the
Refinancing Indebtedness shall be determined in accordance with the preceding sentence, and (2) the
principal amount of the Refinancing Indebtedness exceeds the principal amount of the Indebtedness
being Refinanced, in which case the U.S. Dollar Equivalent of such excess shall be determined on
the date such Refinancing Indebtedness is Incurred.

 

39

 

(h) Notwithstanding anything herein to the contrary, any Indebtedness of the Company or any of
its Restricted Subsidiaries directly or indirectly (including through participations) issued to or
acquired by an Affiliate of the Company, shall be Affiliate Subordinated Indebtedness.

SECTION 4.04. Limitation on Restricted Payments. (a) Subject to Section 4.13, the Company
shall not, and shall not permit any Restricted Subsidiary, directly or indirectly, to, make a
Restricted Payment if, at the time the Company or such Restricted Subsidiary makes such Restricted
Payment:

(1) a Default shall have occurred and be continuing (or would result therefrom);

(2) the Company is not entitled to Incur an additional $1.00 of Indebtedness under
Section 4.03(a); or

(3) the aggregate amount of such Restricted Payment and all other Restricted Payments
since April 23, 2002 (including any Restricted Payments contemplated by Section 4.13) (the
amount expended for such purpose if other than in cash, having the fair market value of such
property as determined in good faith by the Company) would exceed the sum of (without
duplication):

(A) 50% of the Consolidated Net Income accrued during the period (treated as
one accounting period) from July 1, 2002 to the end of the most recent fiscal
quarter for which internal financial statements are available on or prior to the
date of such Restricted Payment (or, in case such Consolidated Net Income shall be a
deficit, minus 100% of such deficit); plus

(B) 100% of the aggregate Net Cash Proceeds received by the Company from the
issuance or sale of its Capital Stock (other than Disqualified Stock) subsequent to
April 23, 2002 (other than an issuance or sale to a Subsidiary of the Company) and
100% of any cash capital contribution received by the Company from its shareholders
subsequent to April 23, 2002; plus

(C) the amount by which Indebtedness of the Company is reduced on the Company’s
balance sheet upon the conversion or exchange (other than by a Subsidiary of the
Company) subsequent to April 23, 2002 of any Indebtedness of the Company for Capital
Stock (other than Disqualified Stock) of the Company (less the amount of any cash,
or the fair value of any other property, distributed by the Company upon such
conversion or exchange); plus

(D) an amount equal to the sum of (x) the net reduction in the Investments made
by the Company or any Restricted Subsidiary in any Person resulting from
repurchases, repayments or redemptions of such Investments by such Person, proceeds
realized on the sale of such Investment and proceeds representing the return of
capital, in each case received by the Company or any Restricted Subsidiary
subsequent to April 23, 2002, and (y) to the extent such Person is an Unrestricted
Subsidiary, the portion (proportionate to the Company’s

 

40

 

equity interest in such Subsidiary) of the fair market value of the net assets
of such Unrestricted Subsidiary is designated a Restricted Subsidiary; provided,
however, that the foregoing sum shall not exceed, in the case of any such Person,
the amount of Investments (excluding Permitted Investments) previously made (and
treated as a Restricted Payment) by the Company or any Restricted Subsidiary in such
Person.

(b) The preceding provisions of Section 4.04(a) shall not prohibit:

(1) any Restricted Payment made out of the Net Cash Proceeds of the substantially
concurrent sale of, or made by exchange for, Capital Stock of the Company (other than
Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the
Company or an employee stock ownership plan or to a trust established by the Company or any
of its Subsidiaries for the benefit of their employees to the extent that the purchase by
such plan or trust is financed by Indebtedness of such plan or trust to the Company or any
Restricted Subsidiary or Indebtedness Guaranteed by the Company or a Restricted Subsidiary)
or a substantially concurrent cash capital contribution received by the Company from its
shareholders; provided, however, that (A) such Restricted Payment shall be excluded in the
calculation of the amount of Restricted Payments and (B) the Net Cash Proceeds from such
sale or such cash capital contribution (to the extent so used for such Restricted Payment)
shall be excluded from the calculation of amounts under Section 4.04(a)(3)(B);

(2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value of Subordinated Obligations of the Company or any Subsidiary Guarantor made by
exchange for, or out of the proceeds of the substantially concurrent sale of, Indebtedness
which is permitted to be Incurred pursuant to Section 4.03; provided, however, that such
purchase, repurchase, redemption, defeasance or other acquisition or retirement for value
shall be excluded in the calculation of the amount of Restricted Payments;

(3) dividends paid within 60 days after the date of declaration thereof if at such date
of declaration such dividend would have complied with this Section 4.04; provided, however,
that such dividend shall be included in the calculation of the amount of Restricted
Payments;

(4) so long as no Default has occurred and is continuing, the repurchase or other
acquisition of, shares of, or options to purchase shares of, common stock or preferred stock
of any of the Holding Companies or the Company or any of its Subsidiaries by the Company or
any of its Subsidiaries (or payments paid to any of the Holding Companies to consummate such
repurchases or other acquisitions in accordance with the provisions of this clause (4)) from
employees, former employees, directors, consultants, former consultants or former directors
of the Company or any of its Subsidiaries upon the death, disability or termination of
employment of such employees, directors or consultants, pursuant to the terms of the
agreements (including employment and consulting agreement or amendments thereto) or plans
approved by the Board of Directors; provided, however, that the aggregate amount of such
repurchases and other

 

41

 

acquisitions shall not exceed the sum of (A) $2.5 million in any fiscal year and (B)
the cash proceeds of any “key man” life insurance policies that are used to make such
repurchases; provided, however, that amounts not used pursuant to this clause (4) in a year
may be carried forward for use in future years; provided, further, however, that such
repurchases and other acquisitions shall be included in the calculation of the amount of
Restricted Payments;

(5) the Transactions; provided, however, that Restricted Payments used to effect the
Transactions will be excluded in the calculation of the amount of Restricted Payments;

(6) dividends, loans, advances or other distributions to any of the Holding Companies
to be used by it solely to pay its franchise taxes and other fees required to maintain its
corporate existence and to pay for general corporate and overhead expenses (including
salaries and other compensation of the employees, directors fees, indemnification
obligations, professional fees and expenses) Incurred by the Holding Companies in the
ordinary course of its business; provided, however, that such dividends shall not exceed
$750,000 in the aggregate in any calendar year; provided, further, however, that such
dividends shall be excluded in the calculation of the amount of Restricted Payments;

(7) payments to the Holding Companies in respect of Federal, state, foreign and local
taxes attributable to (or arising as a result of) the operations of the Company and its
Subsidiaries; provided, however, that the amount of such payments in any fiscal year do not
exceed the amount that the Company and its Subsidiaries would be required to pay in respect
of Federal, state, foreign and local taxes for such fiscal year were the Company subject to,
and to pay such taxes as a stand-alone taxpayer (whether or not all such amounts are
actually used by the Holding Companies for such purposes); provided, further, however, that
such payments shall be excluded in the calculation of the amount of Restricted Payments;

(8) repurchase of Capital Stock deemed to occur upon the exercise of stock options or
warrants if such Capital Stock represents a portion of the exercise price thereof and
repurchases of Capital Stock deemed to occur upon the withholding of a portion of the
Capital Stock granted or awarded to an employee to pay for the statutory minimum taxes
payable by such employee upon such grant or award; provided, however, that such amount shall
be excluded in the calculation of the amount of Restricted Payments;

(9) Restricted Payments not exceeding $7.5 million in the aggregate; provided, however,
that (A) at the time of such Restricted Payments, no Default shall have occurred and be
continuing (or result therefrom) and (B) such Restricted Payments shall be included in the
calculation of the amount of Restricted Payments;

(10) any Restricted Payments that are part of the Note Refinancing; provided, however,
that (a) the Note Refinancing Conditions shall have been met; (b) unless the AMI Exchange
Notes expressly provide otherwise, this clause (10) shall not permit Restricted Payments
that are part of the Note Refinancing and are made in cash in excess

 

42

 

of the amount of cash proceeds received by the Company and its Restricted Subsidiaries
from any incurrence of Indebtedness by the Company or any of its Restricted Subsidiaries or
any issuance of Capital Stock or capital contribution, in each case as part of the Note
Refinancing and received concurrently or within 180 days prior thereto, and (c) Restricted
Payments permitted by this clause (10) shall be excluded in the calculation of the amount of
Restricted Payments; or

(11) dividends, loans, advances or other distributions for the payment of interest on
the Existing AMH Notes and any Refinancings thereof but only to the extent such dividends,
loans, advances or other distributions are permitted pursuant to the AMI Exchange Notes;
provided, however that unless the AMI Exchange Notes expressly provide otherwise, such
Restricted Payments shall be included in the calculation of the amount of Restricted
Payments.

(c) To the extent any Blocker Carveout Transfers shall be made subsequent to the Issue Date
that are Restricted Payments, such Restricted Payments (i) shall first be applied to reduce the
availability of Restricted Payments otherwise permitted under Section 4.04(b)(9) and (ii) to the
extent in excess of such availability and without duplication of clause (i), shall be included in
the calculation of the amount of Restricted Payments under Section 4.04(a).

SECTION 4.05. Limitation on Restrictions on Distributions from Restricted Subsidiaries. The
Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or
permit to exist or become effective any consensual encumbrance or restriction on the ability of any
Restricted Subsidiary to (a) pay dividends or make any other distributions on its Capital Stock to
the Company or a Restricted Subsidiary or pay any Indebtedness owed to the Company, (b) make any
loans or advances to the Company or (c) transfer any of its property or assets to the Company,
except:

(i) any encumbrance or restriction pursuant to an agreement in effect at or entered
into on the Issue Date (including this Indenture, the agreements governing the Credit
Facilities and the indenture governing the Existing AMI Notes and the Guarantees thereof);

(ii) any encumbrance or restriction with respect to a Restricted Subsidiary pursuant to
an agreement relating to any Indebtedness Incurred by such Restricted Subsidiary on or prior
to the date on which such Restricted Subsidiary was acquired by the Company (other than
Indebtedness Incurred as consideration in, or to provide all or any portion of the funds or
credit support utilized to consummate, the transaction or series of related transactions
pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was acquired
by the Company) and outstanding on such date;

(iii) any encumbrance or restriction pursuant to any amendments, modifications,
restatements, renewals, increases, supplements, refundings, replacements or Refinancings of
the Indebtedness referred to in any of the foregoing clauses and restrictions contained in
Indebtedness incurred after the date hereof in accordance with the terms of this Indenture;
provided that such amendments, modifications, restatements,

 

43

 

renewals, increases, supplements, refundings, replacements or Refinancings are not
materially more restrictive with respect to such dividend and other payment restrictions
than those contained in the applicable instrument governing such Indebtedness as in effect
on the date of this Indenture; provided that, with respect to any agreement governing such
other Indebtedness, the provisions relating to such encumbrance or restriction are no less
favorable to the Company in any material respect as determined by the Company in its
reasonable and good faith judgment than the provisions contained in the Credit Agreement as
in effect on April 23, 2002;

(iv) restrictions on cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

(v) any such encumbrance or restriction consisting of customary non-assignment
provisions in contracts or in leases governing leasehold interest and in intellectual
property contracts and licenses;

(vi) any restriction with respect to a Restricted Subsidiary imposed pursuant to an
agreement entered into for the sale or disposition of assets (including Capital Stock) of
such Restricted Subsidiary permitted by this Indenture pending the closing of such sale or
disposition;

(vii) any restriction arising under applicable law, regulation or order;

(viii) restrictions contained in security agreements or mortgages securing Indebtedness
of a Restricted Subsidiary to the extent such restrictions restrict the transfer of the
property subject to such security agreements or mortgages;

(ix) restrictions on the transfer of assets subject to any Lien permitted under this
Indenture imposed by the holder of such Lien; and

(x) restrictions contained in agreements relating to Indebtedness incurred in
connection with the Note Refinancing and any amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or Refinancings of such
agreements; provided that such agreements, amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or Refinancings are not
materially more restrictive with respect to such dividend and other payment restrictions
than those contained in this Indenture as determined by the Board of Directors of the
Company in its reasonable and good faith judgment and such determination is evidenced by a
resolution of the Board of Directors.

SECTION 4.06. Limitation on Sales of Assets and Subsidiary Stock. (a) Subject to Section
4.13, the Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, consummate any Asset Disposition unless:

(1) The Company or such Restricted Subsidiary receives consideration at the time of
such Asset Disposition at least equal to the fair market value (including as to the value of
all non-cash consideration), as determined in good faith by the Company, or in

 

44

 

the case of an Asset Disposition in excess of $10 million, by the Board of Directors of
the Company, of the shares and assets subject to such Asset Disposition;

(2) at least 75% of the consideration thereof received by the Company or such
Restricted Subsidiary is in the form of cash or cash equivalents; and

(3) an amount equal to 100% of the Net Available Cash from such Asset Disposition is
applied by the Company (or such Restricted Subsidiary, as the case may be) pursuant to one
or more of the following:

(A) to the extent the Company elects (or is required by the terms of any
Indebtedness), to prepay, repay, redeem or purchase Senior Indebtedness of the
Company (including cash collateralization of letters of credit and similar credit
transactions constituting Senior Indebtedness) or Indebtedness (other than any
Disqualified Stock) of a Restricted Subsidiary (or, in the case of a revolving
credit facility, effect a permanent reduction in availability thereunder regardless
of the fact that no prepayment may be required) (in each case other than
Indebtedness owed to the Company or a Subsidiary of the Company) or repay
Indebtedness secured by such asset within one year from the later of the date of
such Asset Disposition or the receipt of such Net Available Cash;

(B) to the extent of the balance of such Net Available Cash after application
(if any) in accordance with clause (A), to the extent the Company elects, to acquire
Additional Assets within one year from the later of the date of such Asset
Disposition or the receipt of such Net Available Cash; and

(C) to the extent of the balance of such Net Available Cash after application
in accordance with clauses (A) and (B), to make an offer to the holders of the
Securities (and to holders of other Senior Subordinated Indebtedness of the Company
designated by the Company) to purchase Securities at 100% of their principal amount
thereof (and such other Senior Subordinated Indebtedness of the Company) pursuant to
and subject to the conditions of Section 4.06(b);

provided, however, that in connection with any prepayment, repayment or purchase of Indebtedness
pursuant to clause (A) or (C) above, the Company or such Restricted Subsidiary shall permanently
retire such Indebtedness and shall cause the related loan commitment (if any) to be permanently
reduced in an amount equal to the principal amount so prepaid, repaid or purchased.

Notwithstanding the foregoing provisions of this Section 4.06, the Company and its Restricted
Subsidiaries will not be required to apply any Net Available Cash in accordance with this Section
4.06 (a) except to the extent that the aggregate Net Available Cash from all Asset Dispositions
which is not applied in accordance with this Section 4.06 (a) exceeds $10.0 million. Pending
application of Net Available Cash pursuant to this Section 4.06 (a), such Net Available Cash may be
invested in a manner not prohibited by this Indenture and/or applied to temporarily reduce
revolving credit indebtedness.

 

45

 

For the purposes of this Section 4.06(a)(2), any of the following are deemed to be cash or
cash equivalents:

(1) the assumption of Indebtedness of the Company or any Restricted Subsidiary and the
release of the Company or such Restricted Subsidiary from all liability on such Indebtedness
in connection with such Asset Disposition;

(2) securities, notes or other obligations received by the Company or any Restricted
Subsidiary from the transferee that are converted by the Company or such Restricted
Subsidiary into cash within 90 days after the date of such Asset Disposition (to the extent
of the cash received); and

(3) any Additional Assets (so long as such Additional Assets are acquired for fair
market value in connection with the transaction giving rise to such Asset Disposition, as
determined in good faith by the Board of Directors of the Company or such Restricted
Subsidiary, as applicable).

(b) In the event of an Asset Disposition that requires the purchase of Securities (and other
Senior Subordinated Indebtedness of the Company) pursuant to Section 4.06 (a)(3)(C), the Company
shall purchase Securities tendered pursuant to an offer by the Company for the Securities (and such
other Senior Subordinated Indebtedness) at a purchase price of 100% of their principal amount (or,
in the event such other Senior Subordinated Indebtedness of the Company was issued with significant
original issue discount, 100% of the accreted value thereof) without premium, plus accrued but
unpaid interest (or, in respect of such other Senior Subordinated Indebtedness of the Company, such
lesser price, if any, as may be provided for by the terms of such Senior Subordinated Indebtedness)
in accordance with the procedures (including prorating in the event of oversubscription) set forth
in this Indenture. If the aggregate purchase price of the securities tendered exceeds the Net
Available Cash allotted to their purchase, the Company shall select the securities to be purchased
on a pro rata basis but in round denominations, which in the case of the Securities shall be
denominations of $1,000 principal amount or multiples thereof. The Company shall not be required
to make such an offer to purchase Securities (and other Senior Subordinated Indebtedness of the
Company) pursuant to this Section 4.06 if the Net Available Cash available therefor is less than
$10.0 million (which lesser amount shall be carried forward for purposes of determining whether
such an offer is required with respect to the Net Available Cash from any subsequent Asset
Disposition). Upon completion of each offer to purchase Securities pursuant to this Section 4.06,
the amount of Net Available Cash will be reset to zero.

(c) The Company will comply with the notice requirements of Section 3.03 and, to the extent
applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities
laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.06.
To the extent that the provisions of any securities laws or regulations conflict with provisions of
this Section 4.06, the Company shall comply with the applicable securities laws and regulations and
shall not be deemed to have breached its obligations under this Section 4.06 by virtue of its
compliance with such securities laws or regulations.

 

46

 

SECTION 4.07. Limitation on Affiliate Transactions. (a) Subject to Section 4.13, the Company
shall not, and shall not permit any Restricted Subsidiary to, enter into or permit to exist any
transaction (including the purchase, sale, lease or exchange of any property, employee compensation
arrangements or the rendering of any service) with, or for the benefit of, any Affiliate of the
Company (an “Affiliate Transaction”) unless:

(1) the terms of the Affiliate Transaction are not materially less favorable to the
Company or such Restricted Subsidiary than those that could be obtained at the time of the
Affiliate Transaction in arm’s-length dealings with a Person who is not an Affiliate;

(2) if such Affiliate Transaction involves an amount in excess of $2.0 million, a
majority of the Board of Directors of the Company have determined in good faith that the
criteria set forth in clause (1) are satisfied and have approved the relevant Affiliate
Transaction as evidenced by a resolution of the Board of Directors; and

(3) if such Affiliate Transaction involves an amount in excess of $10.0 million, the
Board of Directors of the Company shall also have received a written opinion from an
Independent Qualified Party to the effect that such Affiliate Transaction is fair, from a
financial standpoint, to the Company and its Restricted Subsidiaries or is not materially
less favorable to the Company and its Restricted Subsidiaries than could reasonably be
expected to be obtained at the time in an arm’s-length transaction with a Person who was not
an Affiliate.

(b) The provisions of Section 4.07 (a) shall not apply to:

(1) any Investment (including a Permitted Investment) or other Restricted Payment, in
each case permitted to be made pursuant to Section 4.04;

(2) any issuance of securities, or other payments, awards or grants in cash, securities
or otherwise pursuant to, or the funding of, employment arrangements, stock options and
stock ownership plans approved by the Board of Directors of the Company;

(3) loans or advances to employees or consultants in the ordinary course of business,
but in any event not to exceed $2.0 million in the aggregate outstanding at any one time;

(4) the payment of reasonable fees and compensation to, the provision of employee
benefit arrangements and indemnity for the benefit of, directors, officers, employees and
consultants of the Company and its Restricted Subsidiaries;

(5) any Affiliate Transaction between the Company and a Restricted Subsidiary or
between Restricted Subsidiaries;

(6) the issuance or sale of any Capital Stock (other than Disqualified Stock) of the
Company and loans or advances to employees to purchase Capital Stock;

 

47

 

(7) any agreement with the Company or any Restricted Subsidiary as in effect as of the
Issue Date or any amendment or replacement thereto or any transaction contemplated thereby
(including pursuant to any amendment or replacement thereto) so long as any such amendment
or replacement agreement is not more disadvantageous to the Company or such Restricted
Subsidiary in any material respect than the original agreement as in effect on the Issue
Date;

(8) the payment of management, consulting and advisory fees and related expenses made
pursuant to the Harvest Management Services Agreement and the Investcorp Management Services
Agreement, each as in effect on the Issue Date or any amendment or replacement thereto or
any transaction contemplated thereby (including pursuant to any amendment or replacement
thereto) so long as any such amendment or replacement agreement is not more disadvantageous
to the Company or such Restricted Subsidiary in any material respect than the original
agreement as in effect on the Issue Date and does not increase the amount of such annual
fees or transaction fees;

(9) any consulting or employment agreement entered into by the Company or any of its
Restricted Subsidiaries in the ordinary course of business consistent with past practice of
the Company or such Restricted Subsidiary, if any; and

(10) any tax sharing agreement or arrangement and payments pursuant thereto among the
Company and its Subsidiaries and any other Person (including any of the Holding Companies)
with which the Company or its Subsidiaries is required or permitted to file a consolidated
tax return or with which the Company or any of its Restricted Subsidiaries is or could be
part of a consolidated group for tax purposes in amounts not otherwise prohibited by this
Indenture.

SECTION 4.08. Limitation on the Sale or Issuance of Capital Stock of Restricted Subsidiaries.
Subject to Section 4.13, the Company

(1) shall not, and shall not permit any Restricted Subsidiary to, sell, lease, transfer
or otherwise dispose of any Capital Stock of a Restricted Subsidiary to any Person (other
than the Company or a Restricted Subsidiary), and

(2) shall not permit any Restricted Subsidiary, directly or indirectly, to issue or
sell or otherwise dispose of any of its Capital Stock (other than, if necessary, shares of
its Capital Stock constituting directors’ or other legally required qualifying shares) to
any Person (other than to the Company or a Restricted Subsidiary), unless

(A) immediately after giving effect to such issuance, sale or other
disposition, neither the Company nor any of its Subsidiaries own any Capital Stock
of such Restricted Subsidiary; or

(B) immediately after giving effect to such issuance, sale or other
disposition, such Restricted Subsidiary would no longer constitute a Restricted
Subsidiary and any Investment in such Person remaining after giving effect

 

48

 

thereto would have been permitted to be made under Section 4.04 if made on the
date of such issuance, sale or other disposition; or

(C) the sale or issuance of Capital Stock if the proceeds therefrom are applied
in accordance with Section 4.06.

SECTION 4.09. Change of Control. (a) Upon the occurrence of a Change of Control, each Holder
shall have the right to require that the Company repurchase such Holder’s Securities at a purchase
price in cash equal to 101% of the principal amount thereof on the date of purchase plus accrued
and unpaid interest, if any, to the date of purchase (subject to the right of holders of record on
the relevant record date to receive interest due on the relevant interest payment date), In the
event that at the time of such Change of Control the terms of the Senior Indebtedness of the
Company restrict or prohibit the repurchase of Securities pursuant to this Section, then prior to
the mailing of the notice to Holders provided for in Section 4.09(b) below but in any event within
30 days following any Change of Control, the Company shall (1) repay in full all such Senior
Indebtedness or offer to repay in full all such Indebtedness and repay the Indebtedness of each
lender who has accepted such offer or (ii) obtain the requisite consent under the agreements
governing such Senior Indebtedness to permit the repurchase of the Securities as provided for in
Section 4.09(b).

(b) Within 30 days following any Change of Control, unless the Company has exercised its
option to redeem all the Securities as described in paragraph 5(b) of the Securities, the Company
shall mail a notice to each Holder with a copy to the Trustee (the “Change of Control Offer”)
stating:

(1) that a Change of Control has occurred and that such Holder has the right to require
the Company to purchase such Holder’s Securities at a purchase price in cash equal to 101%
of the principal amount thereof on the date of purchase, plus accrued and unpaid interest,
if any, to the date of such purchase (subject to the right of Holders of record on the
relevant record date to receive interest on the relevant interest payment date);

(2) the circumstances and relevant facts regarding such Change of Control;

(3) the purchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed); and

(4) the instructions, as determined by the Company, consistent with this Section 4.09,
that a Holder must follow in order to have its Securities purchased.

(c) Holders electing to have a Security purchased shall be required to surrender the Security,
with an appropriate form duly completed, to the Company at the address specified in the notice at
least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their
election if the Trustee or the Company receives not later than one Business Day prior to the
purchase date, facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Security which was delivered for purchase by the Holder and a statement that such
Holder is withdrawing his election to have such Security purchased.

 

49

 

(d) On the purchase date, the Company will, to the extent lawful:

(1) accept for payment all Securities or portions thereof properly tendered pursuant to the
Change of Control Offer;

(2) deposit with the Paying Agent an amount equal to the purchase price plus accrued and
unpaid interest, if any, in respect of all Securities or portions of Securities properly tendered;
and

(3) deliver or cause to be delivered to the Trustee the Securities so accepted together with
an Officers’ Certificate stating the aggregate principal amount of Securities or portions of
Securities being purchased by the Company.

The Paying Agent will promptly mail to each Holder of Securities properly tendered the
purchase price plus accrued and unpaid interest, if any, for such Securities, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book entry) to each Holder of a new
Security equal in principal amount to any unpurchased portion of the Securities surrendered, if
any. The Company will publicly announce the results of the Change of Control Offer on or as soon
as practicable after the purchase date.

(e) Notwithstanding the foregoing provisions of this Section, the Company shall not be
required to make a Change of Control Offer upon a Change of Control if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.09 applicable to a Change of Control Offer made by the
Company and purchases all Securities validly tendered and not withdrawn under such Change of
Control Offer.

(f) The Company shall comply, to the extent applicable, with the requirements of Section 14(e)
of the Exchange Act and any other securities laws or regulations in connection with the repurchase
of Securities pursuant to this Section. To the extent that the provisions of any securities laws
or regulations conflict with the provisions of this Section, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations
under this Section by virtue of its compliance with such securities laws or regulations.

SECTION 4.10. Future Guarantors. The Company shall cause each domestic Restricted Subsidiary
that guarantees or incurs any Indebtedness under the Credit Facilities incurred pursuant to Section
4.03(b)(1) hereof to, at the same time, execute and deliver to the Trustee a Guaranty Agreement
pursuant to which such Restricted Subsidiary shall Guarantee payment of the Securities on the same
terms and conditions as those set forth in this Indenture.

SECTION 4.11. Compliance Certificate. The Company shall deliver to the Trustee, within 120
days after the end of each fiscal year of the Company, an Officers’ Certificate, one of the signers
of which shall be the principal executive officer, principal financial officer or principal
accounting officer of the Company, stating that in the course of the performance by the signers of
their duties as Officers of the Company they would normally have knowledge of any Default and
whether or not the signers know of any Default that occurred

 

50

 

during such period, without regard to periods of grace or notice requirements. If they do,
the certificate shall describe the Default, its status and what action the Company is taking or
proposes to take with respect thereto. The Company also shall comply with TIA Section 314(a)(4).

SECTION 4.12. Further Instruments and Acts. Upon request of the Trustee, the Company shall
execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purpose of this Indenture.

SECTION 4.13. Dividend Blocker Carveout. Notwithstanding anything in this Indenture to the
contrary, none of the provisions of this Indenture or the Purchase Agreement shall encumber or
restrict the ability of the Company and its Restricted Subsidiaries to (a) pay dividends or make
any other distributions on its capital stock to AMH or any AMH Restricted Subsidiary or pay any
Indebtedness owed to AMH or an AMH Restricted Subsidiary, (b) make any loans or advances to AMH or
(c) transfer any of its property or assets to AMH, except to the extent it would be permitted under
the terms of the Credit Agreement in effect on March 4, 2004, in each case assuming no defaults
under such Credit Agreement and that any other conditions thereunder to such payments,
distributions, loans, advances or transfers have been satisfied) (collectively, “Blocker Carveout
Transfers”).

ARTICLE 5

Successor Company

SECTION 5.01. When Company May Merge or Transfer Assets. The Company shall not consolidate
with or merge with or into, or, subject to Section 4.13, convey, transfer or lease, in one
transaction or a series of transactions, directly or indirectly, all or substantially all its
assets to, any Person, unless

(1) the resulting, surviving or transferee Person (the “Successor Company”) shall be a
Person organized and existing under the laws of the United States of America, any State
thereof or the District of Columbia and the Successor Company (if not the Company) shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Company
under the Securities and this Indenture;

(2) immediately after giving pro forma effect to such transaction (and treating any
Indebtedness which becomes an obligation of the Successor Company or any Subsidiary as a
result of such transaction as having been Incurred by such Successor Company or such
Subsidiary at the time of such transaction), no Default shall have occurred and be
continuing

(3) immediately after giving pro forma effect to such transaction, the Successor
Company would be able to Incur an additional $1.00 of Indebtedness pursuant to Section
4.03(a); and

 

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(4) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) comply with this Indenture;

provided, however, that clause (3) will not be applicable to (A) a Restricted Subsidiary
consolidating with, merging into or transferring all or part of its properties and assets to the
Company or another Restricted Subsidiary or (B) the Company merging with an Affiliate of the
Company solely for the purpose and with the sole effect of reincorporating the Company in another
jurisdiction.

The Successor Company shall be the successor to the predecessor company and shall succeed to,
and be substituted for, and may exercise every right and power of, the predecessor company under
this Indenture, and the predecessor company, except in the case of a lease, shall be released from
the obligation to pay the principal of and interest on the Securities.

The Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or
into, or, subject to Section 4.13, convey, transfer or lease, in one transaction or a series of
transactions, all or substantially all of its assets to any Person (other than the Company or a
Subsidiary Guarantor) unless:

(1) except in the case of a Subsidiary Guarantor that has been disposed of in its
entirety to another Person (other than to the Company or a Subsidiary of the Company),
whether through a merger, consolidation or sale of Capital Stock or assets, if in connection
therewith the Company provides an Officers’ Certificate to the Trustee to the effect that
the Company shall comply with its obligations under Section 4.06 in respect of such
disposition, the resulting, surviving or transferee Person (if not such Subsidiary) shall be
a Person organized and existing under the laws of the jurisdiction under which such
Subsidiary was organized or under the laws of the United States of America, or any State
thereof or the District of Columbia, and such Person shall expressly assume, by a Guaranty
Agreement, in a form satisfactory to the Trustee, all the obligations of such Subsidiary
under its Subsidiary Guaranty;

(2) immediately after giving effect to such transaction or transactions on a pro forma
basis (and treating any Indebtedness which becomes an obligation of the resulting, surviving
or transferee Person as a result of such transaction as having been issued by such Person at
the time of such transaction), no Default shall have occurred and be continuing; and

(3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such Guaranty
Agreement, if any, complies with this Indenture.

ARTICLE 6

Defaults and Remedies

SECTION 6.01. Events of Default. An “Event of Default” occurs if

 

52

 

(1) the Company defaults in any payment of interest on any Security when the same
becomes due and payable, whether or not such payment shall be prohibited by Article 10, and
such default continues for a period of 30 days;

(2) the Company defaults in the payment of the principal of any Security when the same
becomes due and payable at its Stated Maturity, upon redemption, upon required purchase,
upon declaration of acceleration or otherwise;

(3) the Company or any Subsidiary Guarantor fails to comply with Section 5.01;

(4) the Company or any Subsidiary Guarantor fails to comply with Section 4.03, 4.04,
4.05, 4.06 (other than a failure to purchase Securities), 4.07, 4.08 or 4.09 and such
failure continues for 30 days after the notice specified below;

(5) the Company or any Subsidiary Guarantor fails to comply with any of its other
agreements in the Securities or this Indenture and such failure continues for 60 days after
the notice specified below;

(6) (a) Indebtedness of the Company or any Significant Subsidiary is not paid within
any applicable grace period after final maturity or is accelerated by the holders thereof
because of a default and the total amount of such Indebtedness unpaid or accelerated exceeds
$10.0 million, or its foreign currency equivalent at the time or (b) a default exists, for
which all applicable grace periods have expired, in connection with Indebtedness of the
Company that ranks pari passu with the Securities or that represents Subordinated
Obligations of the Company, such default permits acceleration of such Indebtedness and the
amount of Indebtedness permitted to be accelerated exceeds $10.0 million, or its foreign
currency equivalent at the time;

(7) AMH II, AMH, the Company or any Significant Subsidiary pursuant to or within the
meaning of any Bankruptcy Law:

(A) commences a voluntary case;

(B) consents to the entry of an order for relief against it in an involuntary
case;

(C) consents to the appointment of a Custodian of it or for any substantial
part of its property; or

(D) makes a general assignment for the benefit of its creditors;

or takes any comparable action under any foreign laws relating to insolvency;

(8) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that

 

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(A) is for relief against AMH II, AMH, the Company or any Significant
Subsidiary in an involuntary case;

(B) appoints a Custodian of the Company or any Significant Subsidiary or for
any substantial part of its property; or

(C) orders the winding up or liquidation of AMH II, AMH, the Company or any
Significant Subsidiary;

or any similar relief is granted under any foreign laws and the order or decree remains
unstayed and in effect for 60 days;

(9) any judgment or decree for the payment of money (other than judgments which are
covered by enforceable insurance policies issued by solvent carriers) in excess of $10.0
million is entered against the Company or any Significant Subsidiary, and remains
undischarged, unpaid, unwaived or unstayed for a period of 60 consecutive days following the
entry of such judgment or decree becomes final and non-appealable; or

(10) any Subsidiary Guaranty of a Significant Subsidiary ceases to be in full force and
effect (other than in accordance with the terms of such Guaranty) for 30 days after notice
or any Subsidiary Guarantor that is a Significant Subsidiary denies or disaffirms its
obligations under its Guaranty.

The foregoing shall constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body.

The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state
law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee,
liquidator, custodian or similar official under any Bankruptcy Law.

A Default under clauses (4), (5) and (9) is not an Event of Default until the Trustee or the
holders of at least 25% in principal amount of the outstanding Securities notify the Company and
the Trustee of the Default and the Company does not cure such Default within the time specified
after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a “Notice of Default”.

The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written
notice in the form of an Officers’ Certificate of any Event of Default under clause (6) (subject to
Section 6.05(b)) or (10) and any event which with the giving of notice or the lapse of time would
become an Event of Default under clause (4), (5), (9) or (10) its status and what action the
Company is taking or proposes to take with respect thereto.

SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified
in Section 6.01(7) or (8) with respect to the Company) occurs and is continuing, the Trustee by
notice to the Company, or the Holders of at least 25% in principal amount of the Securities by
notice to the Company and the Trustee, may declare the principal of

 

54

 

and accrued but unpaid interest on all the Securities to be due and payable. Upon such a
declaration, such principal and interest shall be due and payable immediately. If an Event of
Default specified in Section 6.01(7) or (8) with respect to the Company occurs, the principal of
and interest on all the Securities shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Securityholders. The
Holders of a majority in principal amount of the Securities by notice to the Trustee may rescind an
acceleration and its consequences if the rescission would not conflict with any judgment or decree
and if all existing Events of Default have been cured or waived except nonpayment of principal or
interest that has become due solely because of acceleration. No such rescission shall affect any
subsequent Default or impair any right consequent thereto.

SECTION 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee
may pursue any available remedy to collect the payment of principal of or interest on the
Securities or to enforce the performance of any provision of the Securities or this Indenture.

The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any
Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair
the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy
is exclusive of any other remedy. All available remedies are cumulative.

          SECTION 6.04. Waiver of Past Defaults. Subject to Section 6.02, the Holders of a majority in
aggregate principal amount of the outstanding Securities by notice to the Trustee may waive an
existing Default and its consequences except (i) a Default in the payment of the principal of or
interest on a Security, (ii) a Default arising from the failure to redeem or purchase any Security
when required pursuant to this Indenture or (iii) a Default in respect of a provision that under
Section 9.02 cannot be amended without the consent of each Securityholder affected. When a Default
is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default
or impair any consequent right.

SECTION 6.05. Control by Majority. (a) The Holders of a majority in principal amount of the
outstanding Securities may direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee or of exercising any trust or power conferred on the Trustee.
However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture
or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of
other Securityholders or would involve the Trustee in personal liability; provided, however, that
the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with
such direction. Prior to taking any action hereunder, the Trustee shall be entitled to
indemnification satisfactory to it in its sole discretion against all losses and expenses caused by
taking or not taking such action.

(b) Notwithstanding the foregoing, in the event of a declaration of acceleration in respect of
the Securities because an Event of Default specified in Section 6.01(6) above shall have occurred
and be continuing, such declaration of acceleration shall be automatically annulled if the
Indebtedness that is the subject of such Event of Default has been

 

55

 

discharged or paid or such Event of Default shall have been cured or waived by the holders of
such Indebtedness and written notice of such discharge, cure or waiver, as the case may be, shall
have been given to the Trustee by the Company or by the requisite holders of such Indebtedness or a
trustee, fiduciary or agent for such holders, within 30 days after such declaration of acceleration
in respect of the Securities and (i) no Person shall have commenced judicial proceedings to
foreclose upon assets of the Company or any of its Restricted Subsidiaries or shall have exercised
any right under applicable law or applicable security documents to take ownership of any of such
assets in lieu of foreclosure and (ii) no other Event of Default with respect to the Securities
shall have occurred which has not been cured or waived during such 30-day period.

SECTION 6.06. Limitation on Suits. Except to enforce the right to receive payment of
principal, premium (if any) or interest when due, no Securityholder may pursue any remedy with
respect to this Indenture or the Securities unless

(1) the Holder gives to the Trustee written notice stating that an Event of Default is
continuing;

(2) the Holders of at least 25% in principal amount of the Securities make a written
request to the Trustee to pursue the remedy;

(3) such Holder or Holders offer to the Trustee security or indemnity satisfactory to
the Trustee against any loss, liability or expense;

(4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of security or indemnity; and

(5) the Holders of a majority in principal amount of the Securities do not give the
Trustee a direction inconsistent with the request during such 60-day period.

A Securityholder may not use this Indenture to prejudice the rights of another Securityholder
or to obtain a preference or priority over another Securityholder (it being understood that the
Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances
are unduly prejudicial to such Holders).

SECTION 6.07. Rights of Holders To Receive Payment. Notwithstanding any other provision of
this Indenture, the right of any Holder to receive payment of principal of and interest on the
Securities held by such Holder, on or after the respective due dates expressed in the Securities,
or to bring suit for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder.

SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1)
or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Company for the whole amount then due and owing (together with
interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07.

 

56

 

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee and the Securityholders allowed in any judicial proceedings relative to the Company, its
creditors or its property and, unless prohibited by law or applicable regulations, may vote on
behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar
functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to
make payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and
any other amounts due the Trustee under Section 7.07.

SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this
Article 6, it shall pay out the money or property in the following order at the date or dates fixed
by the Trustee and, in the case of distribution of such money on account of principal, premium, if
any, or interest, if any, upon presentation of the Securities and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid

FIRST: to the Trustee for amounts due under Section 7.07;

SECOND: to holders of Senior Indebtedness of the Company and, if such money or
property has been collected from a Subsidiary Guarantor, to holders of Senior Indebtedness
of such Subsidiary Guarantor, in each case to the extent required by Articles 10 and 12;

THIRD: to Securityholders for amounts due and unpaid on the Securities for principal
and interest, ratably, without preference or priority of any kind, according to the amounts
due and payable on the Securities for principal and interest, respectively; and

FOURTH: to the Company.

The Trustee may fix a record date and payment date for any payment to Securityholders pursuant
to this Section. At least 15 days before such record date, the Company shall mail to each
Securityholder and the Trustee a notice that states the record date, the payment date and amount to
be paid.

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or omitted by it as
Trustee, a court in its discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in principal amount of the Securities.

SECTION 6.12. Waiver of Stay or Extension Laws. The Company (to the extent it may lawfully do
so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law wherever

 

57

 

enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby
expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede
the execution of any power herein granted to the Trustee, but shall suffer and permit the execution
of every such power as though no such law had been enacted.

ARTICLE 7

Trustee

SECTION 7.01. Duties of Trustee. (a) If an Event of Default has occurred and is continuing
(and is not cured), the Trustee shall exercise the rights and powers vested in it by this Indenture
and use the same degree of care and skill in their exercise as a prudent Person would exercise or
use under the circumstances in the conduct of such Person’s own affairs.

(b) Except during the continuance of an Event of Default,

(1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall examine
the certificates and opinions to determine whether or not they conform to the requirements
of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).

(c) The Trustee may not be relieved from liability for its own negligent action, its own
negligent failure to act or its own willful misconduct, except that

(1) this paragraph does not limit the effect of paragraph (b) of this Section;

(2) the Trustee shall not be liable for any error of judgment made in good faith by a
Trust Officer unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts; and

(3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05.

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b) and (c) of this Section.

(e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company.

 

58

 

(f) Money held in trust by the Trustee need not be segregated from other funds except to the
extent required by law.

(g) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur financial liability in the performance of any of its duties hereunder or in the
exercise of any of its rights or powers, if it shall have reasonable grounds to believe that
repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it.

(h) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section and to the
provisions of the TIA.

SECTION 7.02. Rights of Trustee. (a) The Trustee may conclusively rely on any document
believed by it to be genuine and to have been signed or presented by the proper person. The
Trustee need not investigate any fact or matter stated in the document.

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on the Officers’ Certificate or Opinion of Counsel.

(c) The Trustee may act through agents and shall not be responsible for the misconduct or
negligence of any agent appointed with due care.

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within its rights or powers; provided, however, that the
Trustee’s conduct does not constitute willful misconduct or negligence.

(e) The Trustee may consult with counsel of its selection, and the advice or opinion of
counsel with respect to legal matters relating to this Indenture and the Securities shall be full
and complete authorization and protection from liability in respect to any action taken, omitted or
suffered by it hereunder in good faith and in accordance with the advice or opinion of such
counsel.

(f) The Trustee shall not be liable with respect to any action taken or omitted to be taken by
it in good faith in accordance with the direction of the Holders of the outstanding Securities.

(g) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Company,
personally or by agent or attorney at the sole cost of the Company and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation.

 

59

 

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a default is received by the Trustee at the corporate trust office of the
Trustee, and such notice references the Securities and this Indenture.

(i) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in
each of its capacities hereunder, and each agent, custodian and other Person employed to act
hereunder.

(j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any
such certificate previously delivered and not superseded.

(k) The permissive rights of the Trustee to do things enumerated in this Indenture shall not
be construed as duties.

(l) In no event shall the Trustee be responsible or liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

(m) The Trustee shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder.

SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and, subject to TIA Sections 310(b) and 311,
may otherwise deal with the Company or its Affiliates with the same rights it would have if it were
not Trustee. However, in the event that the Trustee acquires any conflicting interest it must
eliminate such conflict within 90 days or apply to the SEC for permission to continue as trustee or
resign. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like
rights. However, the Trustee must comply with Sections 7.10 and 7.11.

SECTION 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Company’s use of the proceeds from the Securities, and it shall not be
responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication.

SECTION 7.05. Notice of Defaults. If a Default occurs and is continuing with respect to the
Securities and if it is known to the Trustee, the Trustee shall mail to each Securityholder notice
of the Default within 90 days after it occurs. Except in the case of a Default in payment of
principal of or interest on any Security (including payments pursuant to the mandatory redemption
provisions of such Security, if any), the Trustee may withhold the

 

60

 

notice if and so long as a committee of its Trust Officers in good faith determines that
withholding the notice is in the interests of Securityholders.

SECTION 7.06. Reports by Trustee to Holders. As promptly as practicable after each May 15
beginning with the May 15 following the date of this Indenture, and in any event prior to July 15
in each year, the Trustee shall mail to each Securityholder a brief report dated as of May 15 that
complies with TIA Section 313(a) if such report is required (but if no event described in TIA
Section 313(a) has occurred within the twelve months preceding the reporting date, no report need
be transmitted). The Trustee also shall comply with TIA Section 313(b).

A copy of each report at the time of its mailing to Securityholders shall be filed with the
SEC and each stock exchange (if any) on which the Securities are listed. The Company agrees to
notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange
and of any delisting thereof.

SECTION 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to
time such compensation as shall be agreed in writing between the Company and the Trustee for its
services, as such fees may be adjusted from time to time. The Trustee’s compensation shall not be
limited by any law on compensation of a trustee of an express trust. The Company shall reimburse
the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it,
including costs of collection, in connection with the exercise or performance of any of its powers
or duties hereunder, in addition to the compensation for its services. Such expenses shall include
the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents,
counsel, accountants and experts. The Company shall indemnify the Trustee and its officers,
directors, employees, representatives and agents against any and all loss, liability, damage,
claim, obligation or expense (including attorneys’ fees and expenses) incurred by it in connection
with the administration of this trust and the performance of its duties hereunder. The Trustee
shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The
Company shall defend the claim and the Trustee may have one separate counsel (if the Trustee
determines in its reasonable judgment that the need for separate counsel exists (due to a conflict
of interest or otherwise)) and the Company shall pay the fees and expenses of such counsel. The
Company need not reimburse any expense or indemnify against any loss, liability or expense incurred
by the Trustee through the Trustee’s own willful misconduct or gross negligence. The Company need
not pay any settlement made without its consent, which consent shall not be unreasonably withheld.

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities on all money or property held or collected by the Trustee other than money
or property held in trust to pay principal of and interest on particular Securities.

The Company’s obligations pursuant to this Section shall survive the resignation and removal
of the Trustee and the satisfaction and discharge of this Indenture. When the Trustee incurs
expenses after the occurrence of a Default specified in Section 6.01(7) or (8) with respect to the
Company, the expenses are intended to constitute expenses of administration under the Bankruptcy
Law.

 

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SECTION 7.08. Replacement of Trustee. The Trustee may resign at any time by so notifying the
Company. The Holders of a majority in aggregate principal amount of the outstanding Securities may
remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company
shall remove the Trustee if

(1) the Trustee fails to comply with Section 7.10;

(2) the Trustee fails to comply with TIA Section 310(b) after written request therefor
by the Company;

(3) the Trustee is adjudged bankrupt or insolvent;

(4) a receiver or other public officer takes charge of the Trustee or its property; or

(5) the Trustee otherwise becomes incapable of acting.

If the Trustee resigns, is removed by the Company or by the Holders of a majority in aggregate
principal amount of the outstanding Securities and such Holders do not reasonably promptly appoint
a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in
such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee.

A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee, without further act, deed or conveyance, shall have
all the rights, powers and duties of the retiring Trustee under this Indenture. The successor
Trustee shall mail a notice of its succession to Securityholders. The retiring Trustee shall
promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien
provided for in Section 7.07. No successor Trustee shall accept its appointment unless at the time
of such acceptance such successor Trustee shall be qualified and eligible under the TIA.

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the
outstanding Securities may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee.

If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s
obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

SECTION 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or

 

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assets to, another corporation or banking association, the resulting, surviving or transferee
corporation without any further act shall be the successor Trustee.

In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been
authenticated but not delivered, any such successor to the Trustee may adopt the certificate of
authentication of any predecessor trustee, and deliver such Securities so authenticated; and in
case at that time any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the
name of the successor to the Trustee; and in all such cases such certificates shall have the full
force which it is anywhere in the Securities or in this Indenture provided that the certificate of
the Trustee shall have.

SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the
requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus of at
least $50,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from
the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Company are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met.

SECTION 7.11. Preferential Collection of Claims Against Company. The Trustee shall comply
with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A
Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent
indicated.

ARTICLE 8

Discharge of Indenture; Defeasance

SECTION 8.01. Discharge of Liability on Securities; Defeasance. (a) When (1) the Company
delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to
Section 2.07) for cancellation or (2) all outstanding Securities have become due and payable,
whether at maturity or on a redemption date as a result of the mailing of a notice of redemption
pursuant to Article 3 hereof and the Company irrevocably deposits with the Trustee funds sufficient
to pay at maturity or upon redemption all outstanding Securities, including interest thereon to
maturity or such redemption date (other than Securities replaced pursuant to Section 2.07), and if
in either case the Company pays all other sums payable hereunder by the Company, then this
Indenture shall, subject to Section 8.01(c), cease to be of further effect. The Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an
Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company.

(b) Subject to Sections 8.01(c) and 8.02, the Company at any time may terminate (1) all its
obligations under the Securities, the Subsidiary Guaranties and this Indenture (“legal defeasance
option”) or (2) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07,

 

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4.08, 4.09, 4.10, 4.11 and 4.13 and the operation of Sections 5.01, 6.01(3), 6.01(4), 6.01(5),
6.01(6), 6.01(7), 6.01(8) and 6.01(9) (but, in the case of Sections 6.01(7) and (8), with respect
only to Significant Subsidiaries) (“covenant defeasance option”), and the Securities will
thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or
declaration or act of Holders (and the consequences of any thereof) in connection with such
covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being
understood that such Securities will not be deemed outstanding for accounting purposes). The
Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant
defeasance option.

If the Company exercises its legal defeasance option, payment of the Securities and the
Guarantees may not be accelerated because of an Event of Default with respect thereto. If the
Company exercises its covenant defeasance option, payment of the Securities may not be accelerated
because of an Event of Default specified in Sections 6.01(4), 6.01(6), 6.01(7) and 6.01(8) (but, in
the case of such sections, with respect only to Significant Subsidiaries) or because of the failure
of the Company to comply with Section 5.01(a)(3). If the Company exercises its legal defeasance
option or its covenant defeasance option, each Guarantor, if any, shall be released from all of its
obligations with respect to its Guaranty.

Upon satisfaction of the conditions set forth herein and upon request of the Company, the
Trustee shall acknowledge in writing the discharge of those obligations that the Company
terminates.

(c) Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.03,
2.04, 2.05, 2.06, 2.07, 2.08, 7.07 and 7.08 and in this Article 8 shall survive until the
Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.07, 8.04
and 8.05 shall survive.

SECTION 8.02. Conditions to Defeasance. The Company may exercise its legal defeasance option
or its covenant defeasance option only if

(1) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Securities to maturity or
redemption, as the case may be;

(2) the Company delivers to the Trustee a certificate from a nationally recognized firm
of independent accountants expressing their opinion that the payments of principal and
interest when due and without reinvestment on the deposited U.S. Government Obligations plus
any deposited money without investment will provide cash at such times and in such amounts
as will be sufficient to pay principal and interest when due on all the Securities to
maturity or redemption, as the case may be;

(3) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit) or insofar as Event of Defaults from bankruptcy or insolvency
events are concerned, at any time in the period ending on the 91st day after the date of
deposit;

 

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(4) defeasance does not result in a breach or violation of, or constitute a default
under, this Indenture (other than a breach or violation of this Indenture resulting from the
borrowing of funds to be applied to such deposit and the grant of any Lien securing such
borrowing), the agreements governing Credit Facilities or any other material agreement or
instrument binding on the Company or any of its Restricted Subsidiaries and is not
prohibited by Article 10;

(5) the Company must have delivered to the Trustee an Opinion of Counsel to the effect
that, subject to customary circumstances and conditions, after the 91st day following the
deposit, the trust fund will not be subject to the effect of any applicable bankruptcy,
insolvency, reorganization or similar laws affecting creditors’ rights generally;

(6) in the case of the legal defeasance option, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has
been published by, the Internal Revenue Service a ruling, or (B) since the date of this
Indenture there has been a change in the applicable Federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, the
Securityholders will not recognize income, gain or loss for Federal income tax purposes as a
result of such defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such deposit and
defeasance had not occurred;

(7) in the case of the covenant defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Securityholders will not recognize
income, gain or loss for Federal income tax purposes as a result of such covenant defeasance
and will be subject to Federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such covenant defeasance had not occurred; and

(8) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Securities as contemplated by this Article 8 have been complied with.

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for
the redemption of Securities at a future date in accordance with Article 3.

SECTION 8.03. Application of Trust Money. The Trustee shall hold in trust money or U.S.
Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited
money and the money from U.S. Government Obligations through the Paying Agent and in accordance
with this Indenture to the payment of principal of and interest on the Securities. Money and
securities so held in trust are not subject to Article 10.

SECTION 8.04. Repayment to Company. The Trustee and the Paying Agent shall promptly turn over
to the Company upon written request any excess money or securities held by them at any time.

 

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Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal or interest that
remains unclaimed for two years, and, thereafter, Securityholders entitled to the money must look
to the Company for payment as general creditors.

SECTION 8.05. Indemnity for Government Obligations. The Company shall pay and shall indemnify
the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S.
Government Obligations deposited pursuant to this Article 8 or the principal and interest received
on such U.S. Government Obligations.

SECTION 8.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or
U.S. Government Obligations in accordance with this Article 8 by reason of any legal proceeding or
by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s obligations under this Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred pursuant to this
Article 8 until such time as the Trustee or Paying Agent is permitted to apply all such money or
U.S. Government Obligations in accordance with this Article 8; provided, however, that, if the
Company has made any payment of interest on or principal of any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money or U.S. Government Obligations held by the
Trustee or Paying Agent.

ARTICLE 9

Amendments

SECTION 9.01. Without Consent of Holders. The Company, the Subsidiary Guarantors and the
Trustee may amend this Indenture or the Securities without notice to or consent of any
Securityholder

(1) to cure any ambiguity, omission, mistake, defect or inconsistency;

(2) to comply with Article 5 or Section 4.03(e);

(3) to provide for uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that the uncertificated Securities are issued in registered
form for purposes of Section 163(f) of the Code or in a manner such that the uncertificated
Securities are described in Section 163(f)(2)(B) of the Code;

(4) to add guarantees with respect to the Securities, including any Subsidiary
Guaranties, or to secure the Securities;

(5) to add to the covenants of the Company or a Subsidiary Guarantor for the benefit of
the Holders or to surrender any right or power herein conferred upon the Company or a
Subsidiary Guarantor;

(6) to make any change that does not adversely affect the rights of any Securityholder;
or

 

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(7) to comply with any requirements of the SEC in connection with qualifying, or
maintaining the qualification of, this Indenture under the TIA.

An amendment under this Section may not make any change that adversely affects the rights
under Article 10 or 12 of any holder of Senior Indebtedness of the Company or of a Guarantor then
outstanding unless the holders of such Senior Indebtedness (or any group or representative thereof
authorized to give a consent) consent to such change.

After an amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment. The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section.

SECTION 9.02. With Consent of Holders. The Company, the Subsidiary Guarantor and the Trustee
may amend this Indenture, or the Securities without notice to any Securityholder but with the
written consent of the Holders of at least a majority in aggregate principal amount of the
Securities then outstanding (voting as a single class) (including consents obtained in connection
with a tender offer for, exchange for or purchase of the Securities). However, without the consent
of each Securityholder affected thereby, an amendment may not

(1) reduce the amount of Securities whose Holders must consent to an amendment;

(2) reduce the rate of or extend the time for payment of interest on any Security;

(3) reduce the principal amount of or extend the Stated Maturity of any Security;

(4) reduce the amount payable upon the redemption of any Security or change the time at
which any Security may be redeemed in accordance with Article 3;

(5) make any Security payable in money other than that stated in the Security;

(6) impair the right of any Securityholder to receive payment of principal of and
interest on such Securityholder’s Securities on or after the due dates therefor or to
institute suit for the enforcement of any payment on or with respect to such
Securityholder’s Securities;

(7) make any changes in the ranking or priority of any Security that would adversely
affect the Securityholders;

(8) make any change in Section 6.04, 6.07 or 6.10 or the second sentence of this
Section;

(9) make any change in any Guaranty that would adversely affect the Securityholders in
any material respect; or

 

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(10) reduce the percentage of the principal amount of outstanding securities necessary
for amendment to or waiver of compliance with any provision of this Indenture or the
Securities or for waiver of any default.

It shall not be necessary for the consent of the Holders under this Section to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent approves the
substance thereof.

An amendment under this Section may not make any change that adversely affects the rights
under Article 10 or 12 of any holder of Senior Indebtedness of the Company or of a Subsidiary
Guarantor then outstanding unless the holders of such Senior Indebtedness (or any group or
representative thereof authorized to give a consent) consent to such change.

Section 2.08 hereof shall determine which Securities are considered to be “outstanding” for
purposes of this Section 9.02.

After an amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment. The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section.

SECTION 9.03. Compliance with Trust Indenture Act. Every amendment to this Indenture or the
Securities shall comply with the TIA as then in effect.

SECTION 9.04. Revocation and Effect of Consents and Waivers. A consent to an amendment or a
waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security
or portion of the Security that evidences the same debt as the consenting Holder’s Security, even
if notation of the consent or waiver is not made on the Security. However, any such Holder or
subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the
Security if the Trustee receives the notice of revocation before the date the amendment or waiver
becomes effective. After an amendment or waiver becomes effective, it shall bind every
Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or
waiver by the Trustee.

The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Securityholders entitled to give their consent or take any other action described
above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed,
then notwithstanding the immediately preceding paragraph, those Persons who were Securityholders at
such record date (or their duly designated proxies), and only those Persons, shall be entitled to
give such consent or to revoke any consent previously given or to take any such action, whether or
not such Persons continue to be Holders after such record date. No such consent shall be valid or
effective for more than 120 days after such record date.

SECTION 9.05. Notation on or Exchange of Securities. If an amendment changes the terms of a
Security, the Trustee may require the Holder of the Security to deliver it to the Trustee. The
Trustee may place an appropriate notation on the Security regarding the changed terms and return it
to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange
for the Security shall issue and the Trustee shall

 

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authenticate a new Security that reflects the changed terms. Failure to make the appropriate
notation or to issue a new Security shall not affect the validity of such amendment.

SECTION 9.06. Trustee To Sign Amendments. The Trustee shall sign any amendment authorized
pursuant to this Article 9 if the amendment does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In
signing such amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory
to it and to receive, in addition to the documents required by Section 13.04, and (subject to
Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of
Counsel stating that such amendment is authorized or permitted by this Indenture.

SECTION 9.07. Payment for Consent. Neither the Company nor any Subsidiary of the Company
shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of
interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Securities unless such
consideration is offered to be paid and is paid to all Holders that so consent, waive or agree to
amend in the time frame set forth in solicitation documents relating to such consent, waiver or
agreement.

ARTICLE 10

Subordination

SECTION 10.01. Agreement To Subordinate. The Company agrees, and each Securityholder by
accepting a Security agrees, that the Indebtedness evidenced by the Securities and all other
Subordinated Securities Obligations are subordinated in right of payment, to the extent and in the
manner provided in this Article 10, to the prior payment in full in cash of all Senior Indebtedness
of the Company and that the subordination is for the benefit of and enforceable by the holders of
such Senior Indebtedness. The Securities shall in all respects rank pari passu with all other
Senior Subordinated Indebtedness of the Company, including Indebtedness under the Existing AMI
Notes, and only Indebtedness of the Company which is Senior Indebtedness of the Company shall rank
senior to the Securities in accordance with the provisions set forth herein. All provisions of
this Article 10 shall be subject to Section 10.12.

SECTION 10.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution upon a
total or partial liquidation or dissolution of the Company or in a bankruptcy, reorganization,
insolvency, receivership or similar proceeding relating to the Company or its property,

(1) holders of Senior Indebtedness of the Company shall be entitled to receive payment
in full in cash or cash equivalents of such Senior Indebtedness before Securityholders shall
be entitled to receive any payment on the Securities;

(2) until such Senior Indebtedness of the Company is paid in full in cash or cash
equivalents, any payment or distribution to which Securityholders would be entitled but for
this Article 10 shall be made to holders of such Senior Indebtedness as their interests may
appear, except that Securityholders may receive shares of stock and any

 

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debt securities that are subordinated to such Senior Indebtedness to at least the same
extent as the Securities; and

(3) if a distribution is made to Securityholders that, due to the provisions of this
Article 10, should not have been made to them, then the Securityholders shall hold such
distribution in trust for holders of the Senior Indebtedness and pay such distribution to
such holders as their interests may appear.

For purposes of this Section only, “cash equivalents” shall mean Temporary Cash Investments.

SECTION 10.03. Default on Senior Indebtedness of the Company. The Company shall not pay the
principal of, premium, if any, or interest, if any, on the Securities or other Subordinated
Securities Obligations or make any deposit pursuant to Section 8.01 and may not purchase, redeem or
otherwise retire any Securities or other Subordinated Securities Obligations (collectively, “pay
the Securities”) if either of the following (a “Payment Default”) occurs:

(1) any Designated Senior Indebtedness of the Company is not paid in full in cash when
due; or

(2) any other default on Designated Senior Indebtedness of the Company occurs and the
maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms

unless, in either case, the Payment Default has been cured or waived and any such acceleration has
been rescinded or such Designated Senior Indebtedness has been paid in full in cash; provided,
however, that the Company shall be entitled to pay the Securities and any other Subordinated
Securities Obligations without regard to the foregoing if the Company and the Trustee receive
written notice approving such payment from the Representatives of all Designated Senior
Indebtedness with respect to which the Payment Default has occurred and is continuing.

During the continuance of any default (other than a Payment Default) with respect to any
Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be
accelerated without further notice (except such notice as may be required to effect such
acceleration) or the expiration of any applicable grace periods, the Company shall not pay the
Securities or other Subordinated Securities Obligations for a period (a “Payment Blockage Period”)
commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a
“Blockage Notice”) of such default from the Representative of the Bank Indebtedness or, if no Bank
Indebtedness is outstanding, the Representative of such Designated Senior Indebtedness specifying
an election to effect a Payment Blockage Period and ending 179 days thereafter. The Payment
Blockage Period shall end earlier if such Payment Blockage Period is terminated:

(1) by written notice to the Trustee and the Company from the Person or Persons who
gave such Blockage Notice;

 

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(2) because the default giving rise to such Blockage Notice is cured, waived or
otherwise no longer continuing; or

(3) because such Designated Senior Indebtedness has been discharged or repaid in full
in cash.

Notwithstanding the provisions described in the immediately preceding two sentences (but subject to
the provisions contained in the first sentence of this Section), unless a Payment Default exists,
the Company shall be entitled to resume payments on the Securities and the other Subordinated
Securities Obligations after termination of such Payment Blockage Period. The Securities shall not
be subject to more than one Payment Blockage Period in any consecutive 360-day period, irrespective
of the number of defaults with respect to Designated Senior Indebtedness of the Company during such
period.

For purposes of this Section, no default or event of default which existed or was continuing
on the date of the commencement of any Payment Blockage Period with respect to the Designated
Senior Indebtedness of the Company initiating such Payment Blockage Period shall be, or be made,
the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such
Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such
default or event of default shall have been cured or waived for a period of not less than 90
consecutive days.

SECTION 10.04. Acceleration of Payment of Securities. If payment of the Securities is
accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the
holders of the Designated Senior Indebtedness of the Company (or their Representatives) of the
acceleration.

SECTION 10.05. When Distribution Must Be Paid Over. If a distribution is made to
Securityholders that because of this Article 10 should not have been made to them, the
Securityholders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness of the Company and pay it over to them as their interests may appear. If any
Designated Senior Indebtedness of the Company is outstanding, neither the Company nor any
Subsidiary Guarantor shall pay the Securities until five Business Days after the Representatives of
all the issues of Designated Senior Indebtedness of the Company receive notice of such acceleration
and, thereafter, shall be entitled to pay the Securities only if this Article 10 otherwise permits
payment at that time.

SECTION 10.06. Subrogation. After all Senior Indebtedness of the Company is paid in full and
until the Securities are paid in full, Securityholders shall be subrogated (equally and ratably
with all other Indebtedness pari passu with the Securities) to the rights of holders of such Senior
Indebtedness to receive distributions applicable to such Senior Indebtedness. A distribution made
under this Article 10 to holders of such Senior Indebtedness which otherwise would have been made
to Securityholders is not, as between the Company and Securityholders, a payment by the Company on
such Senior Indebtedness.

 

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SECTION 10.07. Relative Rights. This Article 10 defines the relative rights of
Securityholders and holders of Senior Indebtedness of the Company. Nothing in this Indenture shall

(1) impair, as between the Company and Securityholders, the obligation of the Company,
which is absolute and unconditional, to pay principal of and interest on the Securities in
accordance with their terms; or

(2) prevent the Trustee or any Securityholder from exercising its available remedies
upon a Default, subject to the rights of holders of Senior Indebtedness of the Company to
receive distributions otherwise payable to Securityholders.

SECTION 10.08. Subordination May Not Be Impaired by Company. No right of any holder of Senior
Indebtedness of the Company to enforce the subordination of the Indebtedness evidenced by the
Securities shall be impaired by any act or failure to act by the Company or by its failure to
comply with this Indenture.

SECTION 10.09. Rights of Trustee and Paying Agent. The Company shall give prompt written
notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Failure to give such notice shall not
affect the subordination of the Securities to Senior Indebtedness. Notwithstanding Section 10.03,
the Trustee or Paying Agent shall continue to make payments on the Securities and shall not be
charged with knowledge of the existence of facts that under this Article 10 would prohibit the
making of any such payments unless, not less than two Business Days prior to the date of such
payment, a Trust Officer of the Trustee receives notice satisfactory to it that such payments are
prohibited by this Article 10. The Company, the Registrar or co-registrar, the Paying Agent, a
Representative or a holder of Senior Indebtedness of the Company shall be entitled to give the
notice; provided, however, that, if an issue of Senior Indebtedness of the Company has a
Representative, only the Representative shall be entitled to give the notice.

The Trustee in its individual or any other capacity shall be entitled to hold Senior
Indebtedness of the Company with the same rights it would have if it were not Trustee. The
Registrar and co-registrar and the Paying Agent shall be entitled to do the same with like rights.
The Trustee shall be entitled to all the rights set forth in this Article 10 with respect to any
Senior Indebtedness of the Company which may at any time be held by it, to the same extent as any
other holder of such Senior Indebtedness; and nothing in Article 7 shall deprive the Trustee of any
of its rights as such holder. Nothing in this Article 10 shall apply to claims of, or payments to,
the Trustee under or pursuant to Section 7.07.

SECTION 10.10. Distribution or Notice to Representative. Whenever any Person is to make a
distribution or give a notice to holders of Senior Indebtedness of the Company, such Person shall
be entitled to make such distribution or give such notice to their Representative (if any).

SECTION 10.11. Article 10 Not To Prevent Events of Default or Limit Right to Accelerate. The
failure to make a payment pursuant to the Securities by reason of any provision in this Article 10
shall not be construed as preventing the occurrence of a

 

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Default. Nothing in this Article 10 shall have any effect on the right of the Securityholders
or the Trustee to accelerate the maturity of the Securities.

SECTION 10.12. Trust Moneys Not Subordinated. Notwithstanding anything contained herein to
the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust
under Article 8 by the Trustee for the payment of principal of and interest on the Securities shall
not be subordinated to the prior payment of any Senior Indebtedness of the Company or subject to
the restrictions set forth in this Article 10, and none of the Securityholders shall be obligated
to pay over any such amount to the Company or any holder of Senior Indebtedness of the Company or
any other creditor of the Company.

SECTION 10.13. Trustee Entitled to Rely. Upon any payment or distribution pursuant to this
Article 10, the Trustee and the Securityholders shall be entitled to conclusively rely (1) upon any
order or decree of a court of competent jurisdiction in which any proceedings of the nature
referred to in Section 10.02 are pending, (2) upon a certificate of the liquidating trustee or
agent or other Person making such payment or distribution to the Trustee or to the Securityholders
or (3) upon the Representatives of Senior Indebtedness of the Company for the purpose of
ascertaining the Persons entitled to participate in such payment or distribution, the holders of
such Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 10. In the event that the Trustee determines, in good faith, that evidence is
required with respect to the right of any Person as a holder of Senior Indebtedness of the Company
to participate in any payment or distribution pursuant to this Article 10, the Trustee shall be
entitled to request such Person to furnish evidence to the reasonable satisfaction of the Trustee
as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person
is entitled to participate in such payment or distribution and other facts pertinent to the rights
of such Person under this Article 10, and, if such evidence is not furnished, the Trustee shall be
entitled to defer any payment to such Person pending judicial determination as to the right of such
Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall be applicable to
all actions or omissions of actions by the Trustee pursuant to this Article 10.

SECTION 10.14. Trustee To Effectuate Subordination. Each Securityholder by accepting a
Security authorizes and directs the Trustee on his behalf to take such action as may be necessary
or appropriate to acknowledge or effectuate the subordination between the Securityholders and the
holders of Senior Indebtedness of the Company as provided in this Article 10 and appoints the
Trustee as attorney-in-fact for any and all such purposes.

SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of the Company. The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the
Company and shall not be liable to any such holders if it shall mistakenly pay over or distribute
to Securityholders or the Company or any other Person, money or assets to which any holders of
Senior Indebtedness of the Company shall be entitled by virtue of this Article 10 or otherwise.

 

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SECTION 10.16. Reliance by Holders of Senior Indebtedness of the Company on Subordination
Provisions. Each Securityholder by accepting a Security acknowledges and agrees that the foregoing
subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness of
the Company, whether such Senior Indebtedness was created or acquired before or after the issuance
of the Securities, to acquire and continue to hold, or to continue to hold, such Senior
Indebtedness and such holder of such Senior Indebtedness shall be deemed conclusively to have
relied on such subordination provisions in acquiring and continuing to hold, or in continuing to
hold, such Senior Indebtedness.

ARTICLE 11

Subsidiary Guaranties

SECTION 11.01. Guaranties. Each Subsidiary Guarantor hereby unconditionally and irrevocably
guarantees, jointly and severally, to each Holder of a Security authenticated and delivered by the
Trustee and to the Trustee and its successors and assigns (a) the full and punctual payment of
principal of and interest on the Securities or other Subordinated Securities Obligations when due,
whether at maturity, by acceleration, by redemption or otherwise, and all other monetary
obligations of the Company under this Indenture and the Securities and (b) the full and punctual
performance within applicable grace periods of all other obligations of the Company under this
Indenture and the Securities (all the foregoing being hereinafter collectively called the
“Obligations”). Each Subsidiary Guarantor further agrees that the Obligations may be extended or
renewed, in whole or in part, without notice or further assent from such Subsidiary Guarantor and
that such Subsidiary Guarantor shall remain bound under this Article 11 notwithstanding any
extension or renewal of any Obligation.

Each Subsidiary Guarantor waives presentation to, demand of, payment from and protest to the
Company of any of the Obligations and also waives notice of protest for nonpayment. Each
Subsidiary Guarantor waives notice of any default under the Securities or the Obligations. The
obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any
Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the
Company or any other Person under this Indenture, the Securities or any other agreement or
otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver, amendment or
modification of any of the terms or provisions of this Indenture, the Securities or any other
agreement; (d) the release of any security held by any Holder or the Trustee for the Obligations or
any of them; (e) the failure of any Holder or the Trustee to exercise any right or remedy against
any other guarantor of the Obligations; or (f) except as set forth in Section 11.06, any change in
the ownership of such Subsidiary Guarantor.

Each Subsidiary Guarantor further agrees that its Subsidiary Guaranty herein constitutes a
guarantee of payment, performance and compliance when due (and not a guarantee of collection) and
waives any right to require that any resort be had by any Holder or the Trustee to any security
held for payment of the Obligations.

 

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Each Subsidiary Guaranty is, to the extent and in the manner set forth in Article 12,
subordinated and subject in right of payment to the prior payment in full of the principal of and
premium, if any, and interest on all Senior Indebtedness of the Subsidiary Guarantor giving such
Subsidiary Guaranty and each Subsidiary Guaranty is made subject to such provisions of this
Indenture.

Except as expressly set forth in Sections 8.01(b), 11.02 and 11.06, the obligations of each
Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or
termination for any reason, including any claim of waiver, release, surrender, alteration or
compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or
termination whatsoever or by reason of the invalidity, illegality or unenforceability of the
Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of
each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the
failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under
this Indenture, the Securities or any other agreement, by any waiver or modification of any
thereof, by any default, failure or delay, willful or otherwise, in the performance of the
obligations, or by any other act or thing or omission or delay to do any other act or thing which
may or might in any manner or to any extent vary the risk of such Subsidiary Guarantor or would
otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity.

Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
principal of or interest on any Obligation is rescinded or must otherwise be restored by any Holder
or the Trustee upon the bankruptcy or reorganization of the Company or otherwise.

In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the
failure of the Company to pay the principal of or interest on any Obligation when and as the same
shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform
or comply with any other Obligation, each Subsidiary Guarantor hereby promises to and shall, upon
receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (1) the unpaid amount of such Obligations, (2)
accrued and unpaid interest on such Obligations (but only to the extent not prohibited by law) and
(3) all other monetary Obligations of the Company to the Holders and the Trustee.

Each Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in
respect of any Obligations guaranteed hereby until payment in full of all Obligations and all
obligations to which the Obligations are subordinated as provided in Article 12. Each Subsidiary
Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on
the other hand, (x) the maturity of the Obligations Guaranteed hereby may be accelerated as
provided in Article 6 for the purposes of such Subsidiary Guarantor’s Subsidiary Guaranty herein,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of
such Obligations as provided in Article 6, such Obligations (whether or not due and payable) shall
forthwith become due and payable by

 

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such Subsidiary Guarantor for the purposes of this Section.
Each Subsidiary Guarantor shall have the right to seek contribution from any non-paying Subsidiary
Guarantor in an amount equal to such non-paying Subsidiary Guarantor’s pro rata portion of such
payment based on the respective net assets of all of the Subsidiary Guarantors at the time of such
payment as determined in accordance with GAAP, so long as the exercise of such right does not
impair the rights of the Holders under the Guaranty.

Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any
rights under this Section.

SECTION 11.02. Limitation on Liability. Any term or provision of this Indenture to the
contrary notwithstanding, the maximum aggregate amount of the Obligations guaranteed hereunder by
any Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed without
rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally.

SECTION 11.03. Successors and Assigns. This Article 11 shall be binding upon each Subsidiary
Guarantor and its successors and assigns and shall enure to the benefit of the successors and
assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by
any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture
and in the Securities shall automatically extend to and be vested in such transferee or assignee,
all subject to the terms and conditions of this Indenture.

SECTION 11.04. No Waiver. Neither a failure nor a delay on the part of either the Trustee or
the Holders in exercising any right, power or privilege under this Article 11 shall operate as a
waiver thereof, nor shall a single or partial exercise thereof preclude any other or further
exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and
the Holders herein expressly specified are cumulative and not exclusive of any other rights,
remedies or benefits which either may have under this Article 11 at law, in equity, by statute or
otherwise.

SECTION 11.05. Modification. No modification, amendment or waiver of any provision of this
Article 11, nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any
event be effective unless the same shall be in writing and signed by the Trustee, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which
given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such
Subsidiary Guarantor to any other or further notice or demand in the same, similar or other
circumstances.

SECTION 11.06. Release of Subsidiary Guarantor. Upon the sale or other disposition (including
by way of consolidation or merger) of a Subsidiary Guarantor or the sale or disposition of all or
substantially all the assets of such Subsidiary Guarantor (in each case other than a sale or
disposition to the Company or another Subsidiary Guarantor or an Affiliate of the Company), or if
the Company properly designates any Restricted Subsidiary that is a Subsidiary Guarantor as an
Unrestricted Subsidiary in accordance with the applicable provisions

 

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of this Indenture, or at such
time a Subsidiary Guarantor no longer has outstanding any other Indebtedness or Guarantees any
Indebtedness of the Company or another Subsidiary Guarantor, such Subsidiary Guarantor shall be
deemed released from all obligations under this Article 11 without any further action required on
the part of the Trustee or any Holder. At the written request of the Company, upon receipt of an
Officers’ Certificate, the Trustee shall execute and deliver an appropriate instrument evidencing
such release.

ARTICLE 12

Subordination of Subsidiary Guaranties

SECTION 12.01. Agreement To Subordinate. Each Subsidiary Guarantor agrees, and each
Securityholder by accepting a Security agrees, that the Indebtedness evidenced by such Subsidiary
Guarantor’s Subsidiary Guaranty and all other Subordinated Securities Obligations are subordinated
in right of payment, to the extent and in the manner provided in this Article 12, to the prior
payment in full in cash of all Senior Indebtedness of such Subsidiary Guarantor and that the
subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness.
The Obligations of a Subsidiary Guarantor shall in all respects rank pari passu with all other
Senior Subordinated Indebtedness of such Subsidiary Guarantor, including Indebtedness under its
Guarantee of the Existing AMI Notes, and only Senior Indebtedness of such Subsidiary Guarantor
(including such Subsidiary Guarantor’s Guaranty of Senior Indebtedness of the Company) shall rank
senior to the Obligations of such Subsidiary Guarantor in accordance with the provisions set forth
herein.

SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution upon a
total or partial liquidation or dissolution of such Subsidiary Guarantor or in a bankruptcy,
reorganization, insolvency, receivership or similar proceeding relating to such Subsidiary
Guarantor or its property,

(1) holders of Senior Indebtedness of such Subsidiary Guarantor shall be entitled to
receive payment in full in cash of such Senior Indebtedness before Securityholders shall be
entitled to receive any payment pursuant to the Subsidiary Guaranty of such Subsidiary
Guarantor;

(2) until the Senior Indebtedness of any Subsidiary Guarantor is paid in full in cash,
any payment or distribution to which Securityholders would be entitled but for this Article
12 shall be made to holders of such Senior Indebtedness as their interests may appear,
except that Securityholders may receive shares of stock and any debt securities of such
Subsidiary Guarantor that are subordinated to such Senior Indebtedness to at least the same
extent as the Subsidiary Guaranty;

(3) if a distribution is made to Securityholders that, due to the provisions of this
Article 12, should not have been made to them, then the Securityholders shall hold such
distribution in trust for holders of the Senior Indebtedness and pay such distribution to
such holders as their interests may appear.

 

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SECTION 12.03. Default on Senior Indebtedness of Subsidiary Guarantor. No Subsidiary
Guarantor shall make its Subsidiary Guaranty or purchase, redeem or otherwise retire or defease any
Securities or other Subordinated Securities Obligations (collectively, “pay its Subsidiary
Guaranty”) if either of the following (a “Payment Default”) occurs:

(1) any Designated Senior Indebtedness of such Subsidiary Guarantor is not paid in full
in cash when due; or

(2) any other default on Designated Senior Indebtedness of such Subsidiary Guarantor
occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance
with its terms

unless, in either case, the Payment Default has been cured or waived and any such acceleration has
been rescinded or such Designated Senior Indebtedness has been paid in full in cash; provided,
however, that any Subsidiary Guarantor shall be entitled to pay its Subsidiary Guaranty or any
other Subordinated Securities Obligations without regard to the foregoing if such Subsidiary
Guarantor and the Trustee receive written notice approving such payment from the Representatives of
all Designated Senior Indebtedness with respect to which the Payment Default has occurred and is
continuing.

During the continuance of any default (other than a Payment Default) with respect to any
Designated Senior Indebtedness of such Subsidiary Guarantor pursuant to which the maturity thereof
may be accelerated without further notice (except such notice as may be required to effect such
acceleration) or the expiration of any applicable grace periods, such Subsidiary Guarantor shall
not pay its Subsidiary Guaranty or other Subordinated Securities Obligations for a period (a
“Subsidiary Guaranty Payment Blockage Period”) commencing upon the receipt by the Trustee of (with
a copy to such Subsidiary Guarantor) written notice (a “Subsidiary Guaranty Blockage Notice”) of
such default from the Representative of such Designated Senior Indebtedness specifying an election
to effect a Subsidiary Guaranty Payment Blockage Period and ending 179 days thereafter. The
Subsidiary Guaranty Payment Blockage Period shall end earlier if such Subsidiary Guaranty Payment
Blockage Period is terminated:

(1) by written notice to the Trustee and such Subsidiary Guarantor from the Person or
Persons who gave such Subsidiary Guaranty Blockage Notice;

(2) because the default giving rise to such Subsidiary Guaranty Blockage Notice is
cured, waived or otherwise no longer continuing; or

(3) because such Designated Senior Indebtedness has been discharged or repaid in full
in cash.

Notwithstanding the provisions described in the immediately preceding two sentences (but subject to
the provisions contained in the first sentence of this Section), unless a Payment Default exists,
any Subsidiary Guarantor shall be entitled to resume payments pursuant to its Subsidiary Guaranty
and other Subordinated Securities Obligations after termination of such Subsidiary Guaranty Payment
Blockage Period. No Subsidiary Guarantor shall be subject to more than one Subsidiary Guaranty
Payment Blockage Period in any consecutive 360-day period, irrespective

 

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of the number of defaults with respect to Designated Senior Indebtedness of such Subsidiary
Guarantor during such period.

For purposes of this Section, no default or event of default which existed or was continuing
on the date of the commencement of any Subsidiary Guaranty Payment Blockage Period with respect to
the Designated Senior Indebtedness of such Subsidiary Guarantor initiating such Subsidiary Guaranty
Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent
Subsidiary Guaranty Payment Blockage Period by the Representative of such Designated Senior
Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event
of default shall have been cured or waived for a period of not less than 90 consecutive days.

SECTION 12.04. Demand for Payment. If a demand for payment is made on a Subsidiary Guarantor
pursuant to Article 11, the Trustee shall promptly notify the holders of the Designated Senior
Indebtedness of such Subsidiary Guarantor (or their Representatives) of such demand.

SECTION 12.05. When Distribution Must Be Paid Over. If a distribution is made to
Securityholders that because of this Article 12 should not have been made to them, the
Securityholders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness of the applicable Subsidiary Guarantor and pay it over to them or their
Representatives as their interests may appear.

SECTION 12.06. Subrogation. After all Senior Indebtedness of a Subsidiary Guarantor is paid
in full and until the Securities are paid in full, Securityholders shall be subrogated (equally and
ratably with all other Indebtedness pari passu with such Subsidiary Guaranties) to the rights of
holders of such Senior Indebtedness to receive distributions applicable to Senior Indebtedness of
such Subsidiary Guarantor. A distribution made under this Article 12 to holders of such Senior
Indebtedness which otherwise would have been made to Securityholders is not, as between the
relevant Subsidiary Guarantor and Securityholders, a payment by such Subsidiary Guarantor on such
Senior Indebtedness.

SECTION 12.07. Relative Rights. This Article 12 defines the relative rights of
Securityholders and holders of Senior Indebtedness of a Subsidiary Guarantor. Nothing in this
Indenture shall

(1) impair, as between a Subsidiary Guarantor and Securityholders, the obligation of
such Subsidiary Guarantor, which is absolute and unconditional, to pay its Subsidiary
Guaranty to the extent set forth in Article 11; or

(2) prevent the Trustee or any Securityholder from exercising its available remedies
upon a default by such Subsidiary Guarantor under its Subsidiary Guaranty, subject to the
rights of holders of Senior Indebtedness of such Subsidiary Guarantor to receive
distributions otherwise payable to Securityholders.

SECTION 12.08. Subordination May Not Be Impaired by Company. No right of any holder of Senior
Indebtedness of any Subsidiary Guarantor to enforce the

 

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subordination of the Subsidiary Guaranty of such Subsidiary Guarantor shall be impaired by any
act or failure to act by such Subsidiary Guarantor or by its failure to comply with this Indenture.

SECTION 12.09. Rights of Trustee and Paying Agent. The Company shall give prompt written
notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Failure to give such notice shall not
affect the subordination of the Securities to Senior Indebtedness. Notwithstanding Section 12.03,
the Trustee or Paying Agent shall continue to make payments on any Subsidiary Guaranty and shall
not be charged with knowledge of the existence of facts that would prohibit the making of any such
payments unless, not less than two Business Days prior to the date of such payment, a Trust Officer
of the Trustee receives written notice satisfactory to it that such payments are prohibited by this
Article 12. The Company, the relevant Subsidiary Guarantor, the Registrar or co-registrar, the
Paying Agent, a Representative or a holder of Senior Indebtedness of such Subsidiary Guarantor
shall be entitled to give the notice; provided, however, that, if an issue of Senior Indebtedness
of any Subsidiary Guarantor has a Representative, only the Representative shall be entitled to give
the notice.

The Trustee in its individual or any other capacity shall be entitled to hold Senior
Indebtedness of any Subsidiary Guarantor with the same rights it would have if it were not the
Trustee. The Registrar and co-registrar and the Paying Agent may do the same with like rights.
The Trustee shall be entitled to all the rights set forth in this Article 12 with respect to any
Senior Indebtedness of any Subsidiary Guarantor which may at any time be held by it, to the same
extent as any other holder of such Senior Indebtedness; and nothing in Article 7 shall deprive the
Trustee of any of its rights as such holder. Nothing in this Article 12 shall apply to claims of,
or payments to, the Trustee under or pursuant to Section 7.07.

SECTION 12.10. Distribution or Notice to Representative. Whenever any Person is to make a
distribution or give a notice to holders of Senior Indebtedness of any Subsidiary Guarantor, such
Person shall be entitled to make such distribution or give such notice to their Representative (if
any).

SECTION 12.11. Article 12 Not To Prevent Events of Default or Limit Right To Demand Payment.
The failure to make a payment pursuant to a Subsidiary Guaranty by reason of any provision in this
Article 12 shall not be construed as preventing the occurrence of a Default. Nothing in this
Article 12 shall have any effect on the right of the Securityholders or the Trustee to make a
demand for payment on any Subsidiary Guarantor pursuant to its Subsidiary Guaranty.

SECTION 12.12. Trustee Entitled To Rely. Upon any payment or distribution pursuant to this
Article 12, the Trustee and the Securityholders shall be entitled to conclusively rely (1) upon any
order or decree of a court of competent jurisdiction in which any proceedings of the nature
referred to in Section 12.02 are pending, (2) upon a certificate of the liquidating trustee or
agent or other Person making such payment or distribution to the Trustee or to the Securityholders
or (3) upon the Representatives for the holders of Senior Indebtedness of any Subsidiary Guarantor
for the purpose of ascertaining the Persons entitled to participate in such payment or
distribution, the holders of such Senior Indebtedness and other indebtedness of

 

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such Subsidiary
Guarantor, the amount thereof or payable thereon, the amount or amounts paid
or distributed thereon and all other facts pertinent thereto or to this Article 12. In the
event that the Trustee determines, in good faith, that evidence is required with respect to the
right of any Person as a holder of Senior Indebtedness of any Subsidiary Guarantor to participate
in any payment or distribution pursuant to this Article 12, the Trustee shall be entitled to
request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the
amount of Senior Indebtedness of such Subsidiary Guarantor held by such Person, the extent to which
such Person is entitled to participate in such payment or distribution and other facts pertinent to
the rights of such Person under this Article 12, and, if such evidence is not furnished, the
Trustee shall be entitled to defer any payment to such Person pending judicial determination as to
the right of such Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall
be applicable to all actions or omissions of actions by the Trustee pursuant to this Article 12.

SECTION 12.13. Trustee To Effectuate Subordination. Each Securityholder by accepting a
Security authorizes and directs the Trustee on his behalf to take such action as may be necessary
or appropriate to acknowledge or effectuate the subordination between the Securityholders and the
holders of Senior Indebtedness of any Subsidiary Guarantor as provided in this Article 12 and
appoints the Trustee as attorney-in-fact for any and all such purposes.

SECTION 12.14. Trustee Not Fiduciary for Holders of Senior Indebtedness of Subsidiary
Guarantor. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness of any Subsidiary Guarantor and shall not be liable to any such holders if it shall
mistakenly pay over or distribute to Securityholders or the Company or any other Person, money or
assets to which any holders of such Senior Indebtedness shall be entitled by virtue of this Article
12 or otherwise.

SECTION 12.15. Reliance by Holders of Senior Indebtedness of Subsidiary Guarantors on
Subordination Provisions. Each Securityholder by accepting a Security acknowledges and agrees that
the foregoing subordination provisions are, and are intended to be, an inducement and a
consideration to each holder of any Senior Indebtedness of any Subsidiary Guarantor, whether such
Senior Indebtedness was created or acquired before or after the issuance of the Securities, to
acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of
Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in
acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.

ARTICLE 13

Miscellaneous

SECTION 13.01. Trust Indenture Act Controls. If any provision of this Indenture limits,
qualifies or conflicts with another provision which is required to be included in this Indenture by
the TIA, the required provision shall control.

SECTION 13.02. Notices. Any notice or communication shall be in writing (including telecopy)
and delivered in person or mailed by first-class mail addressed as follows:

 

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if to the Company or any Subsidiary Guarantor:

Associated Materials, LLC

3773 State Road

Cuyahoga Falls, Ohio 44223

Attention: Thomas N. Chieffe

Facsimile: (330) 922-2296

with copies to:

Gibson, Dunn & Crutcher, LLP

200 Park Avenue

New York, NY 10166

Attention: Joerg H. Esdorn, Esq.

Facsimile: (212) 351-5276

if to the Trustee:

Deutsche Bank Trust Company Americas

60 Wall Street, 27th Floor, Mail Stop NYC60-2710

New York, NY 10005

Attention of: Trust & Securities Services

in addition copies of correspondence are to be sent to:

Deutsche Bank National Trust Company for Deutsche Bank Trust Company

Americas

25 DeForest Avenue, Mail Stop SUM01-0105

Summit, NJ 07901

Facsimile: (732) 578-4635

The Company, any Subsidiary Guarantor or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications.

Any notice or communication mailed to a Securityholder shall be mailed to the Securityholder
at the Securityholder’s address as it appears on the registration books of the Registrar and shall
be sufficiently given if so mailed within the time prescribed.

Failure to mail a notice or communication to a Securityholder or any defect in it shall not
affect its sufficiency with respect to other Securityholders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

SECTION 13.03. Communication by Holders with Other Holders. Securityholders may communicate
pursuant to TIA Section 312(b) with other Securityholders with respect to their rights under this
Indenture or the Securities. The Company, any Subsidiary

 

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Guarantor, the Trustee, the Registrar and
anyone else shall have the protection of TIA Section 312(c).

SECTION 13.04. Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Company to the Trustee to take or refrain from taking any action under this
Indenture, the Company shall furnish to the Trustee

(1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and

(2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of such counsel, such action is authorized or permitted by this
Indenture and that all such conditions precedent have been complied with.

SECTION 13.05. Statements Required in Certificate or Opinion. Each certificate or opinion
with respect to compliance with a covenant or condition provided for in this Indenture shall
include

(1) a statement that the individual making such certificate or opinion has read such
covenant or condition;

(2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

(3) a statement that, in the opinion of such individual, he has made such examination
or investigation as is necessary to enable him to express an informed opinion as to whether
or not such covenant or condition has been complied with; and

(4) a statement as to whether or not, in the opinion of such individual, such covenant
or condition has been complied with.

SECTION 13.06. When Securities Disregarded. In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company shall be disregarded and deemed not
to be outstanding, except that, for the purpose of determining whether the Trustee shall be
protected in relying on any such direction, waiver or consent, only Securities which a Trust
Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Securities outstanding at the time shall be considered in any such determination.

SECTION 13.07. Rules by Trustee. The Trustee may make reasonable rules for action by or a
meeting of Securityholders. The Registrar and the Paying Agent may make reasonable rules for their
functions.

 

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SECTION 13.08. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or a day on which
banking institutions are not required to be open in the State of New
York. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day
that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular
record date is a Legal Holiday, the record date shall not be affected.

SECTION 13.09. GOVERNING LAW; WAIVER OF JURY TRIAL. THIS INDENTURE AND THE SECURITIES SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF
THE LAW OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

SECTION 13.10. No Recourse Against Others. No past, present or future director, officer,
employee, member, incorporator or stockholder, as such, of the Company or any Subsidiary Guarantor
shall not have any liability for any obligations of the Company under the Securities or this
Indenture or of such Subsidiary Guarantor under its Subsidiary Guaranty or this Indenture or for
any claim based on, in respect of or by reason of such obligations or their creation. By accepting
a Security, each Securityholder shall waive and release all such liability. The waiver and release
shall be part of the consideration for the issuance of the Securities. Such waiver and release may
not be effective to waive liabilities under the U.S. Federal securities laws, and it is the view of
the SEC that such a waiver is against public policy.

SECTION 13.11. Successors. All agreements of the Company in this Indenture and the Securities
shall bind its successors. All agreements of the Trustee in this Indenture shall bind its
successors.

SECTION 13.12. Multiple Originals. The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this
Indenture and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the
original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or
PDF shall be deemed to be their original signatures for all purposes.

SECTION 13.13. Table of Contents; Headings. The table of contents, cross-reference sheet and
headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not intended to be considered a part hereof and shall not modify or restrict
any of the terms or provisions hereof.

SECTION 13.14. No Adverse Interpretations of Other Agreements. This Indenture may not be used
to interpret any other indenture, loan or debt agreement of the

 

84

 

Company or its Subsidiaries or of
any other Person. Any such Indenture, loan or debt agreement may not be used to interpret this
Indenture.

SECTION 13.15. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

SECTION 13.16. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section
326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help
fight the funding of terrorism and money laundering, is required to obtain, verify, and record
information that identifies each person or legal entity that establishes a relationship or opens an
account with the Trustee. The parties to this Indenture agree that they will provide the Trustee
with such information as it may request in order for the Trustee to satisfy the requirements of the
U.S.A. Patriot Act.

 

85

 

IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above.

	 	 	 	 	 
	 	ASSOCIATED MATERIALS, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALSIDE, INC.,

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GENTEK HOLDINGS, LLC.,

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GENTEK BUILDING PRODUCTS, INC.

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee

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

 

 

 

	 	 	 	 	 

RULE 144A/REGULATION S APPENDIX

PROVISIONS RELATING TO SECURITIES

1. Definitions

1.1 Definitions

For the purposes of this Appendix the following terms shall have the meanings indicated below:

“Applicable Procedures” means, with respect to any transfer or transaction involving a
Temporary Regulation S Global Security or beneficial interest therein, the rules and procedures of
the Depository, Euroclear and Clearstream for such a Temporary Regulation S Global Security, in
each case to the extent applicable to such transaction and as in effect from time to time.

“Clearstream” means Clearstream Banking, societe anonyme, or any successor securities clearing
agency.

“Definitive Security” means a certificated Security bearing, if required, the restricted
securities legend set forth in Section 2.3(e).

“Depositary” means The Depository Trust Company, its nominees and their respective successors.

“Distribution Compliance Period”, with respect to any Securities, means the period of 40
consecutive days beginning on and including the later of (i) the day on which such Securities are
first offered to Persons other than distributors (as defined in Regulation S under the Securities
Act) in reliance on Regulation S and (ii) the Issue Date with respect to such Securities.

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System or any
successor securities clearing agency.

“Institutional Accredited Investor” means an institutional “accredited investor” as defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

“Purchase Agreement” means the Purchase Agreement dated June 16, 2009, between the Company
and the Purchasers.

“Purchasers” means Apollo Investment Corporation, The Northwestern Mutual Life Insurance
Company and Goldman, Sachs & Co.

“QIB” means a “qualified institutional buyer” as defined in Rule 144A.

“Securities” means $20 million aggregate principal amount of 15% Senior Subordinated Notes Due
2012 of the Company issued on the Issue Date.

 

 

 

“Securities Act” means the Securities Act of 1933, as amended.

“Securities Custodian” means the custodian with respect to a Global Security (as appointed by
the Depositary), or any successor Person thereto and shall initially be the Trustee.

“Transfer Restricted Security” means a Security that bears or is required to bear the legend
set forth in Section 2.3(e) hereto.

1.2 Other Definitions

	 	 	 	 	 
	 	 	Defined
	Term	 	in Section
	 
	“Agent Members”
	 	 	2.1	(b)
	“Global Security”
	 	 	2.1	(a)
	“Permanent Regulation S Global Security”
	 	 	2.1	(a)
	“Regulation S”
	 	 	2.1	(a)
	“Rule 144A”
	 	 	2.1	(a)
	“Rule 144A Global Security”
	 	 	2.1	(a)
	“Temporary Regulation S Global Security”
	 	 	2.1	(a)

2. The Securities.

2.1 Form and Dating. The Securities will be offered and sold by the Company pursuant to the
Purchase Agreement and Section 4(2) of the Securities Act. Securities may thereafter be
transferred to, among others, QIBs, Institutional Accredited Investors and purchasers in reliance
on Regulation S under the Securities Act (“Regulation S”), subject to the restrictions on transfer
set forth herein. Securities shall be issued initially in the form of one or more Definitive
Securities in fully registered form without interest coupons and with the restricted securities
legend set forth in Exhibit 1 hereto, duly executed by the Company and authenticated by the Trustee
as provided in this Indenture. Securities resold to QIBS pursuant to Rule 144A under the
Securities Act (“Rule 144A”) may be issued in the form of one or more global securities in
definitive, fully registered form (collectively, the “Rule 144A Global Security”) and Securities
initially resold pursuant to Regulation S may be issued initially in the form of one or more
temporary global securities in definitive, fully registered form (collectively, the “Temporary
Regulation S Global Security”), in each case, without interest coupons and with the global
securities legend and, if required, the restricted securities legend set forth in Exhibit 1 hereto.
Beneficial ownership interests in a Temporary Regulation S Global Security will not be
exchangeable for interests in the Rule 144A Global Security, a permanent global security (the
“Permanent Regulation S Global Security”), or any other Security without a legend containing
restrictions on transfer of such Security prior to the expiration of the Distribution Compliance
Period and then only upon certification in form reasonably satisfactory to the Trustee that
beneficial ownership interests in such Temporary Regulation S Global Security are owned either by
non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require
registration under the Securities Act. The Rule 144A Global Security, the Temporary Regulation S
Global Security and the Permanent Regulation S Global Security are collectively referred to herein
as “Global Securities”. The aggregate principal amount of the Global

 

2

 

Securities may from time to time be increased or decreased by adjustments made on the records
of the Trustee and the Depositary or its nominee as hereinafter provided.

(b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a Global Security
deposited with or on behalf of the Depositary.

Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
the Indenture with respect to any Global Security held on their behalf by the Depositary or by the
Trustee as the custodian of the Depositary or under such Global Security, and the Company, the
Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depositary as
the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or impair, as between the Depositary and its Agent Members, the operation of
customary practices of such Depositary governing the exercise of the rights of a holder of a
beneficial interest in any Global Security.

(c) Certificated Securities. Except as provided in this Section 2.1 or Section 2.3 or 2.4,
owners of beneficial interests in Global Securities shall not be entitled to receive physical
delivery of Definitive Securities.

2.2 Authentication. The Trustee shall authenticate and deliver on the Issue Date, an
aggregate principal amount of $20 million of 15% Senior Subordinated Notes Due 2012 upon a written
order of the Company signed by two Officers or by an Officer and either an Assistant Treasurer or
an Assistant Secretary of the Company. Such order shall specify the amount of the Securities to be
authenticated and the date on which the Securities are to be authenticated.

2.3 Transfer and Exchange. (a) Transfer and Exchange of Definitive Securities. When
Definitive Securities are presented to the Registrar or a co-registrar with a request

(x) to register the transfer of such Definitive Securities; or

(y) to exchange such Definitive Securities for an equal principal amount of Definitive
Securities of other authorized denominations,

the Registrar or co-registrar shall register the transfer or make the exchange as requested if its
reasonable requirements for such transaction are met; provided, however, that the Definitive
Securities surrendered for transfer or exchange

(i) shall be duly endorsed or accompanied by a written instrument of transfer in form
reasonably satisfactory to the Company and the Registrar or co-registrar, duly executed by
the Holder thereof or its attorney duly authorized in writing; and

(ii) if such Definitive Securities are required to bear a restricted securities legend,
they are being transferred or exchanged pursuant to an effective registration statement
under the Securities Act or pursuant to clause (A), (B) or (C)

 

3

 

below, and are accompanied by the following additional information and documents, as
applicable:

(A) if such Definitive Securities are being delivered to the Registrar
by a Holder for registration in the name of such Holder, without transfer, a
certification from such Holder to that effect; or

(B) if such Definitive Securities are being transferred to the Company,
a certification to that effect; or

(C) if such Definitive Securities are being transferred (x) pursuant to
an exemption from registration in accordance with Rule 144A, Regulation S or
Rule 144 under the Securities Act; or (y) in reliance upon another exemption
from the requirements of the Securities Act, (i) a certification to that
effect (in the form set forth on the reverse of the Security) and (ii) if
the Company so requests, an opinion of counsel or other evidence reasonably
satisfactory to it as to the compliance with the restrictions set forth in
the legend set forth in Section 2.3(e)(i).

(b) Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global
Security. A Definitive Security may not be exchanged for a beneficial interest in a Rule 144A
Global Security or a Permanent Regulation S Global Security except upon satisfaction of the
requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed
or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee,
together with

(i) certification, in the form set forth on the reverse of the Security, that such
Definitive Security is either (A) being transferred to a QIB in accordance with Rule 144A or
(B) is being transferred after expiration of the Distribution Compliance Period by a Person
who initially purchased such Security in reliance on Regulation S to a buyer who elects to
hold its interest in such Security in the form of a beneficial interest in the Permanent
Regulation S Global Security; and

(ii) written instructions directing the Trustee to make, or to direct the Securities
Custodian to make, an adjustment on its books and records with respect to such Rule 144A
Global Security (in the case of a transfer pursuant to clause (b)(i)(A)) or Permanent
Regulation S Security (in the case of a transfer pursuant to clause (b)(i)(B)) to reflect an
increase in the aggregate principal amount of the Securities represented by the Rule 144A
Global Security or Permanent Regulation S Global Security, as applicable, such instructions
to contain information regarding the Depository account to be credited with such increase,

then the Trustee shall cancel such Definitive Security and cause, or direct the Securities
Custodian to cause, in accordance with the standing instructions and procedures existing between
the Depositary and the Securities Custodian, the aggregate principal amount of Securities
represented by the Rule 144A Global Security or Permanent Regulation S Global Security, as
applicable, to be increased by the aggregate principal amount of the Definitive Security to be

 

4

 

exchanged and shall credit or cause to be credited to the account of the Person specified in such
instructions a beneficial interest in the Rule 144A Global Security or Permanent Regulation S
Global Security, as applicable, equal to the principal amount of the Definitive Security so
canceled. If no Rule 144A Global Securities or Permanent Regulation S Global Securities, as
applicable, are then outstanding, the Company shall issue and the Trustee shall authenticate, upon
written order of the Company in the form of an Officers’ Certificate, a new Rule 144A Global
Security or Permanent Regulation S Global Security, as applicable, in the appropriate principal
amount.

(c) Transfer and Exchange of Global Securities.

(i) The transfer and exchange of Global Securities or beneficial interests therein
shall be effected through the Depositary, in accordance with the Indenture (including
applicable restrictions on transfer set forth herein, if any) and the procedures of the
Depository therefor. A transferor of a beneficial interest in a Global Security shall
deliver to the Registrar a written order given in accordance with the Depository’s
procedures containing information regarding the participant account of the Depository to be
credited with a beneficial interest in the Global Security. The Registrar shall, in
accordance with such instructions, instruct the Depositary to credit to the account of the
Person specified in such instructions a beneficial interest in the Global Security and to
debit the account of the Person making the transfer the beneficial interest in the Global
Security being transferred.

(ii) If the proposed transfer is a transfer of a beneficial interest in one Global
Security to a beneficial interest in another Global Security, the Registrar shall reflect on
its books and records the date and an increase in the principal amount of the Global
Security to which such interest is being transferred in an amount equal to the principal
amount of the interest to be so transferred, and the Registrar shall reflect on its books
and records the date and a corresponding decrease in the principal amount of the Global
Security from which such interest is being transferred.

(iii) Notwithstanding any other provisions of this Appendix (other than the provisions
set forth in Section 2.4), a Global Security may not be transferred as a whole except by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to
a successor Depositary or a nominee of such successor Depositary.

(iv) In the event that a Global Security is exchanged for Definitive Securities
pursuant to Section 2.4 of this Appendix, such Securities may be exchanged only in
accordance with such procedures as are substantially consistent with the provisions of this
Section 2.3 (including the certification requirements set forth on the reverse of the
Securities intended to ensure that such transfers comply with Rule 144A or Regulation S, as
the case may be) and such other procedures as may from time to time be adopted by the
Company.

 

5

 

(d) Restrictions on Transfer of Temporary Regulation S Global Securities. During the
Distribution Compliance Period, beneficial ownership interests in Temporary Regulation S Global
Securities may only be sold, pledged or transferred through Euroclear or Clearstream in accordance
with the Applicable Procedures and only (i) to the Company, (ii) so long as such Security is
eligible for resale pursuant to Rule 144A, to a Person whom the selling holder reasonably believes
is a QIB that purchases for its own account or for the account of a QIB to whom notice is given
that the resale, pledge or transfer is being made in reliance on Rule 144A, (iii) in an offshore
transaction in accordance with Regulation S, (iv) pursuant to an exemption from registration under
the Securities Act provided by Rule 144 (if applicable) under the Securities Act or (v) pursuant to
an effective registration statement under the Securities Act, in each case in accordance with any
applicable securities laws of any state of the United States.

(e) Legend.

(i) Except as permitted by paragraph (ii), each Transfer Restricted Security (and all
Securities issued in exchange therefor or in substitution thereof) shall bear a legend in
substantially the following form:

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND THIS
SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR
AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON
WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) INSIDE THE
UNITED STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR (AS DEFINED IN RULE 501(A)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED
LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER
OF THE SECURITIES, (III) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH
RULE 904 UNDER THE SECURITIES ACT, (IV) PURSUANT TO EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (V) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND
EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE
RESTRICTIONS REFERRED TO IN (A) ABOVE.

 

6

 

(ii) Upon any sale or transfer of a Transfer Restricted Security (including any
Transfer Restricted Security represented by a Global Security) pursuant to Rule 144 under
the Securities Act, the Registrar shall permit the transferee thereof to exchange such
Transfer Restricted Security for a certificated Security that does not bear the legend set
forth above and rescind any such restriction on the transfer of such Transfer Restricted
Security, if the transferor thereof certifies in writing to the Registrar that such sale or
transfer was made in reliance on Rule 144 (such certification to be in the form set forth on
the reverse of the Security).

(iii) Each Security certificate shall bear a transfer restriction legend in
substantially the following form:

IN ADDITION TO [THE RESTRICTIONS SET FORTH ABOVE AND] ANY OTHER RESTRICTIONS CONTAINED
IN THE INDENTURE DATED AS OF JUNE 26, 2009 (THE “INDENTURE”), AMONG THE COMPANY, AS ISSUER
OF THIS SECURITY, THE SUBSIDIARY GUARANTORS AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
TRUSTEE, THIS SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS FURTHER SET FORTH
IN SECTION 2.06(b) OF THE INDENTURE. A COPY OF THE INDENTURE MAY BE OBTAINED FROM THE
COMPANY BY WRITING TO THE COMPANY AT THE ADDRESS SPECIFIED IN THIS SECURITY.

(f) Cancellation or Adjustment of Global Security. At such time as all beneficial interests
in a Global Security have either been exchanged for Definitive Securities, redeemed, purchased or
canceled, such Global Security shall be returned to the Depositary for cancellation or retained and
canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a
Global Security is exchanged for certificated Securities, redeemed, purchased or canceled, the
principal amount of Securities represented by such Global Security shall be reduced and an
adjustment shall be made on the books and records of the Trustee (if it is then the Securities
Custodian for such Global Security) with respect to such Global Security, by the Trustee or the
Securities Custodian, to reflect such reduction.

(c) Obligations with Respect to Transfers and Exchanges of Securities.

(i) To permit registrations of transfers and exchanges, the Company shall execute and
the Trustee shall authenticate Definitive Securities and Global Securities at the
Registrar’s or co-registrar’s request.

(ii) No service charge shall be made for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax, assessments,
or similar governmental charge payable in connection therewith (other than any such transfer
taxes, assessments or similar governmental charge payable upon exchange or transfer pursuant
to Sections 3.06, 4.06, 4.09 and 9.05 of the Indenture).

(iii) The Registrar or co-registrar shall not be required to register the transfer of
or exchange of (a) any Definitive Security selected for redemption in whole or

 

7

 

in part pursuant to Article 3 of the Indenture, except the unredeemed portion of any
Definitive Security being redeemed in part, or (b) any Security for a period beginning 15
calendar days before the mailing of a notice of an offer to repurchase or redeem Securities
or 15 calendar days before an interest payment date.

(iv) Prior to the due presentation for registration of transfer of any Security, the
Company, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem and treat
the person in whose name a Security is registered as the absolute owner of such Security for
the purpose of receiving payment of principal of and interest on such Security and for all
other purposes whatsoever, whether or not such Security is overdue, and none of the Company,
the Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice
to the contrary.

(v) All Securities issued upon any transfer or exchange pursuant to the terms of the
Indenture shall evidence the same debt and shall be entitled to the same benefits under the
Indenture as the Securities surrendered upon such transfer or exchange.

(h) No Obligation of the Trustee.

(i) The Trustee shall have no responsibility or obligation to any beneficial owner of a
Global Security, a member of, or a participant in the Depositary or other Person with
respect to the accuracy of the records of the Depositary or its nominee or of any
participant or member thereof, with respect to any ownership interest in the Securities or
with respect to the delivery to any participant, member, beneficial owner or other Person
(other than the Depositary) of any notice (including any notice of redemption) or the
payment of any amount, under or with respect to such Securities. All notices and
communications to be given to the Holders and all payments to be made to Holders under the
Securities shall be given or made only to or upon the order of the registered Holders (which
shall be the Depositary or its nominee in the case of a Global Security). The rights of
beneficial owners in any Global Security shall be exercised only through the Depositary
subject to the applicable rules and procedures of the Depositary. The Trustee may
conclusively rely and shall be fully protected in conclusively relying upon information
furnished by the Depositary with respect to its members, participants and any beneficial
owners.

(ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under the Indenture, including
Section 2.06(c) thereof, or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Depositary participants,
members or beneficial owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so
if and when expressly required by, the terms of the Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof.

2.4 Certificated Securities. (a) A Global Security deposited with the Depositary or with the
Trustee as Securities Custodian for the Depositary pursuant to Section 2.1 shall be transferred

 

8

 

to the beneficial owners thereof in the form of Definitive Securities in an aggregate
principal amount equal to the principal amount of such Global Security, in exchange for such Global
Security, only if such transfer complies with Section 2.3 hereof and (i) the Depositary notifies
the Company that it is unwilling or unable to continue as Depositary for such Global Security or if
at any time such Depositary ceases to be a “clearing agency” registered under the Exchange Act and,
in either case, a successor Depositary is not appointed by the Company within 90 days of such
notice, or (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its
sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive
Securities under the Indenture.

(b) Any Global Security that is transferable to the beneficial owners thereof pursuant to this
Section shall be surrendered by the Depositary to the Trustee located at its principal corporate
trust office in the Borough of Manhattan, The City of New York, to be so transferred, in whole or
from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon
such transfer of each portion of such Global Security, an equal aggregate principal amount of
Definitive Securities of authorized denominations. Any portion of a Global Security transferred
pursuant to this Section shall be executed, authenticated and delivered only in denominations of
$1,000 principal amount and any integral multiple thereof and registered in such names as the
Depositary shall direct. Any Definitive Security delivered in exchange for an interest in the
Transfer Restricted Security shall, except as otherwise provided by Section 2.3(e) hereof, bear the
restricted securities legend set forth in Exhibit 1 hereto.

(c) Subject to the provisions of Section 2.4(b) hereof, the registered Holder of a Global
Security shall be entitled to grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action which a
Holder is entitled to take under the Indenture or the Securities.

(d) In the event of the occurrence of one of the events specified in Section 2.4(a) hereof,
the Company shall promptly make available to the Trustee a reasonable supply of Definitive
Securities in definitive, fully registered form without interest coupons.

 

9

 

EXHIBIT 1

to

RULE 144A/REGULATION S APPENDIX

[FORM OF FACE OF SECURITY]

[Global Securities Legend]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

[Restricted Securities Legend]

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933(THE “SECURITIES ACT”), AND THIS
SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR
AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) IN THE UNITED STATES TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) INSIDE THE UNITED
STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER
THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN

 

 

 

REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THE SECURITIES,
(III) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE
SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED
BY RULE 144 THEREUNDER (IF AVAILABLE) OR (V) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO
IN (A) ABOVE.

[Temporary Regulation S Global Security Legend]

BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY WILL NOT BE
EXCHANGEABLE FOR INTERESTS IN THE RULE 144A GLOBAL SECURITY OR THE PERMANENT REGULATION S GLOBAL
SECURITY OR ANY OTHER SECURITY REPRESENTING AN INTEREST IN THE SECURITIES REPRESENTED HEREBY WHICH
DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY
DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(c)(3) OF REGULATION S UNDER THE
SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED
SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING
SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY
REGULATION S GLOBAL SECURITY MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED THROUGH EUROCLEAR BANK
S.A./N.A., AS OPERATOR OF THE EUROCLEAR SYSTEM OR CLEARSTREAM BANKING, SOCIETE ANONYME AND ONLY (I)
TO THE COMPANY, (II) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (III) INSIDE THE UNITED STATES TO AN
INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED
LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER
OF THE SECURITIES, (IV) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904
UNDER THE SECURITIES ACT, (V) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (VI) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (VI) IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. HOLDERS OF INTERESTS IN THIS
TEMPORARY REGULATION S
GLOBAL SECURITY WILL NOTIFY ANY PURCHASER OF THIS SECURITY OF THE RESALE RESTRICTIONS REFERRED
TO ABOVE, IF THEN APPLICABLE.

 

2

 

[Transfer Restriction Legend]

IN ADDITION TO [THE RESTRICTIONS SET FORTH ABOVE AND] ANY OTHER RESTRICTIONS CONTAINED IN THE
INDENTURE DATED AS OF JUNE 26, 2009 (THE “INDENTURE”), AMONG THE COMPANY, AS ISSUER OF THIS
SECURITY, THE SUBSIDIARY GUARANTORS AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS TRUSTEE, THIS
SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS FURTHER SET FORTH IN SECTION 2.06(b) OF
THE INDENTURE. A COPY OF THE INDENTURE MAY BE OBTAINED FROM THE COMPANY BY WRITING TO THE COMPANY
AT THE ADDRESS SPECIFIED IN THIS SECURITY.

 

3

 

	 	 	 
	No.                     

	 	[CUSIP No.                     ]
	 
	 

	$                    	 

15% Senior Subordinated Note Due 2012

Associated Materials, LLC, a Delaware limited liability company, promises to pay to

 ______________, or registered assigns, the principal sum of

Dollars on July 15,
2012.

Interest Payment Dates: January 15, April 15, July 15 and October 15, commencing July 15,
2009.

Record Dates: January 1, April 1, July 1 and October 1.

Additional provisions of this Security are set forth on the other side of this Security.

	 	 	 	 	 
	 	ASSOCIATED MATERIALS, LLC

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

Dated:

 

 

 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

	 	 	 	 	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee, certifies

that this is one of the

Securities referred to

in the Indenture.

 	 	 
	by  	 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 

 

 

 

	 	 	 	 	 

[FORM OF REVERSE SIDE OF SECURITY]

15% Senior Subordinated Note Due 2012

1. Interest

Associated Materials, LLC, a Delaware limited liability company (such company, and its
successors and assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Security at the rate per annum
shown above. The Company will pay interest quarterly in arrears on January 15, April 15, July 15
and October 15 of each year, commencing July 15, 2009. Interest on the Securities will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from June
26, 2009. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

The Company will pay interest on the Securities (except defaulted interest) to the Persons who
are registered holders of Securities at the close of business on the January 1, April 1, July 1 or
October 1 next preceding the interest payment date even if Securities are canceled after the record
date and on or before the interest payment date. Holders must present and surrender Securities to
the Paying Agent to collect final principal payment. The Company will pay principal and interest
in money of the United States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Securities represented by a Global Security (including
principal, premium, if any, and interest) will be made by wire transfer of immediately available
funds to the accounts specified by The Depository Trust Company. The Paying Agent will make all
payments in respect of a certificated Security (including principal, premium, if any, and interest)
by mailing a check to the registered address of each Holder thereof; provided, however, that
payments on a certificated Security will be made by wire transfer to a U.S. dollar account
maintained by the payee with a bank in the United States if such Holder elects payment by wire
transfer by giving written notice to the Paying Agent to such effect designating such account no
later than 30 days immediately preceding the first relevant due date for payment by wire transfer
(or such other date as the Trustee may accept in its discretion).

3. Paying Agent and Registrar

Initially, Deutsche Bank Trust Company Americas, a New York banking corporation (the
“Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying
Agent, Registrar or co-registrar without notice. The Company or any of its domestic Wholly Owned
Subsidiaries may act as Paying Agent, Registrar or coregistrar.

4. Indenture

The Company issued the Securities under an Indenture dated as of June 26, 2009 (“Indenture”),
among the Company, the Subsidiary Guarantors and the Trustee. The terms of the Securities include
those stated in the Indenture and those made part of the Indenture by reference

 

 

 

to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date
of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. The Securities are subject to all such terms, and
Securityholders are referred to the Indenture and the TIA for a statement of those terms.

The Securities are general unsecured obligations of the Company. The Indenture contains
covenants that limit the ability of the Company and its subsidiaries to incur additional
indebtedness; pay dividends or distributions on, or redeem or repurchase capital stock; make
investments; issue or sell capital stock of subsidiaries; engage in transactions with affiliates;
transfer or sell assets; guarantee indebtedness; restrict dividends or other payments of
subsidiaries; and consolidate, merge or transfer all or substantially all of its assets and the
assets of its subsidiaries. These covenants are subject to important exceptions and
qualifications.

5. Optional Redemption; Redemption Upon a Change of Control

(a) The Company shall be entitled at its option to redeem all or a portion of the Securities
upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed in
percentages of principal amount on the redemption date), plus accrued interest to the redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date), if redeemed during the periods set forth below:

	 	 	 	 	 
	 	 	Redemption
	Period	 	Price
	June 26, 2009 through and including December 21, 2009
	 	 	101.000	%
	December 22, 2009 and thereafter
	 	 	100.000	%

(b) Holders must present and surrender Securities to the Paying Agent upon full redemption.

6. Notice of Redemption

Notice of redemption will be mailed at least 30 days but not more than 60 days before the
redemption date to each Holder of Securities to be redeemed at its registered address. If fewer
than all the Securities are to be redeemed, the Trustee shall select the Securities to be redeemed
pro rata or by lot or by a method that complies with applicable legal and securities exchange
requirements, if any, and that the Trustee in its sole discretion shall deem to be fair and
appropriate and in accordance with methods generally used at the time of selection in similar
circumstances; provided that, securities in denominations larger than $1,000 principal amount may
be redeemed in part but only in whole multiples of $1,000. If money sufficient to pay the
redemption price of and accrued interest on all Securities (or portions thereof) to be redeemed on
the redemption date is deposited with the Paying Agent on or before the redemption date and certain
other conditions are satisfied, on and after such date interest ceases to accrue on such Securities
(or such portions thereof) called for redemption.

 

2

 

7. Put Provisions

Upon a Change of Control, unless the Company has exercised its right to redeem the Securities
as described under Section 5 hereof, any Holder of Securities will have the right to cause the
Company to repurchase all or any part of the Securities of such Holder at a purchase price equal to
101% of the principal amount of the Securities to be purchased plus accrued and unpaid interest, if
any, to the date of purchase (subject to the right of holders of record on the relevant record date
to receive interest due on the related interest payment date) as provided in, and subject to the
terms of, the Indenture.

Under certain circumstances as set forth in the Indenture, the Company will be required to
offer to purchase Securities with the Net Available Cash from Asset Dispositions.

8. Subordination

The Securities are subordinated to Senior Indebtedness of the Company, as defined in the
Indenture. To the extent provided in the Indenture, Senior Indebtedness of the Company must be
paid before the Securities may be paid. The Company agrees, and each Securityholder by accepting a
Security agrees, to the subordination provisions contained in the Indenture and authorizes the
Trustee to give it effect and appoints the Trustee as attorney-in-fact for such purpose.

9. Guaranty

The payment by the Company of the principal of, and premium and interest on, the Securities is
unconditionally guaranteed on a joint and several senior subordinated basis by each Subsidiary
Guarantor.

10. Denominations; Transfer; Exchange

The Securities are in registered form without coupons in denominations of $1,000 principal
amount and integral multiples of $1,000. A Holder may transfer or exchange Securities in
accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes and fees required by law or
permitted by the Indenture. The Registrar need not register the transfer or exchange of any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed or 15 days before an interest
payment date.

11. Persons Deemed Owners

The registered Holder of this Security may be treated as the owner of it for all purposes.

 

3

 

12. Unclaimed Money

If money for the payment of principal or interest remains unclaimed for two years, the Trustee
or Paying Agent shall pay the money back to the Company at its written request unless an abandoned
property law designates another Person. After any such payment, Holders entitled to the money must
look only to the Company and not to the Trustee for payment.

13. Discharge and Defeasance

Subject to certain conditions, the Company at any time shall be entitled to terminate some or
all of its obligations under the Securities and the Indenture if the Company deposits with the
Trustee money or U.S. Government Obligations for the payment of principal and interest on the
Securities to redemption or maturity, as the case may be.

14. Amendment, Waiver

Subject to certain exceptions set forth in the Indenture, (i) the Indenture and the Securities
may be amended with the written consent of the Holders of at least a majority in aggregate
principal amount outstanding of the Securities (including consents obtained in connection with a
tender offer for, exchange for or purchase of the Securities) and (ii) any past default or
noncompliance with any provision may be waived with the written consent of the Holders of a
majority in aggregate principal amount outstanding of the Securities. Subject to certain
exceptions set forth in the Indenture, without the consent of any Securityholder, the Company, the
Subsidiary Guarantor and the Trustee shall be entitled to amend the Indenture or the Securities to
cure any ambiguity, omission, defect or inconsistency, or to comply with Article 5 of the
Indenture, or to provide for uncertificated Securities in addition to or in place of certificated
Securities, or to add guarantees with respect to the Securities, including Subsidiary Guaranties,
or to secure the Securities, or to add additional covenants or surrender rights and powers
conferred on the Company or the Subsidiary Guarantor, or to comply with any request of the SEC in
connection with qualifying the Indenture under the Act, or to make any change that does not
adversely affect the rights of any Securityholder.

15. Defaults and Remedies

Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Securities; (ii) default in payment of principal on the Securities at maturity, upon
redemption pursuant to paragraph 5 of the Securities, upon required purchase, upon declaration of
acceleration or otherwise; (iii) the failure by the Company or any Subsidiary Guarantor to comply
with other agreements in the Indenture or the Securities, in certain cases subject to notice and
lapse of time; (iv) certain accelerations (including failure to pay within any grace period after
final maturity) or defaults of other Indebtedness of the Company or any Significant Subsidiary if
the amount accelerated (or so unpaid) exceeds $10 million; (v) certain events of bankruptcy or
insolvency with respect to AMH II, AMH, the Company or any Significant Subsidiary; (vi) certain
judgments or decrees for the payment of money in excess of $10 million; and (vii) certain defaults
with respect to Subsidiary Guaranties. If an Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the outstanding Securities may
declare all the Securities to be due and payable. Certain events

 

4

 

of bankruptcy or insolvency are Events of Default which will result in the Securities being
due and payable immediately upon the occurrence of such Events of Default.

Securityholders may not enforce the Indenture or the Securities except as provided in the
Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives
indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in
aggregate principal amount of the Securities may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Securityholders notice of any continuing Default (except a
Default in payment of principal or interest) if it determines that withholding notice is not
opposed to the interest of the Holders.

16. Trustee Dealings with the Company

Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its
individual or any other capacity, may become the owner or pledgee of Securities and may otherwise
deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise
deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.

17. No Recourse Against Others

No past, present or future director, officer, employee, member, incorporator or stockholder,
as such, of the Company or the Trustee shall not have any liability for any obligations of the
Company under the Securities or the Indenture or for any claim based on, in respect of or by reason
of such obligations or their creation. By accepting a Security, each Securityholder waives and
releases all such liability. The waiver and release are part of the consideration for the issue of
the Securities.

18. Authentication

This Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the other side of this
Security.

19. Abbreviations

Customary abbreviations may be used in the name of a Securityholder or an assignee, such as
TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with
rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift
to Minors Act).

20. CUSIP Numbers

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures the Company has caused CUSIP numbers to be printed on the Securities and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No
representation is made as to the accuracy of such numbers

 

5

 

either as printed on the Securities or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.

21. Governing Law

THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

The Company will furnish to any Securityholder upon written request and without charge to the
Securityholder a copy of the Indenture which has in it the text of this Security in larger type.
Requests may be made to:

Associated Materials, LLC

3773 State Road

Cuyahoga Falls, Ohio 44223

Attention: Thomas N. Chieffe

 

6

 

ASSIGNMENT FORM

To assign this Security, fill in the form below:

I or we assign and transfer this Security to

 
(Print or type assignee’s name, address and zip code)

 
(Insert assignee’s soc. sec. or tax I.D. No.)

and irrevocably appoint agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

 

	 	 	 	 	 
	Date:

	 	Your Signature:	 	 

 
Sign exactly as your name appears on the other side of this Security.

In connection with any transfer of any of the Securities evidenced by this certificate occurring
prior to the expiration of the applicable period referred to in Rule 144(d) under the Securities
Act after the later of the date of original issuance of such Securities and the last date, if any,
on which such Securities were owned by the Company or any Affiliate of the Company, the undersigned
confirms that such Securities are being transferred in accordance with its terms.

CHECK ONE BOX BELOW

	 	(1)	____	in the United States to a “qualified institutional buyer” (as defined in
Rule 144A under the Securities Act of 1933) that purchases for its own account or for
the account of a qualified institutional buyer to whom notice is given that such
transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A under the Securities Act of 1933; or
	 
	 	(2)	____	inside the United States to an Institutional Accredited Investor (as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that,
prior to such transfer, furnished to the Trustee a signed letter containing certain
representations and agreements relating to the restrictions on transfer of the
Securities; or
	 
	 	(3)	____	outside the United States in an offshore transaction within the meaning of
Regulation S under the Securities Act in compliance with Rule 904 under the Securities
Act of 1933; or

 

 

 

	 	(4)	____	pursuant to the exemption from registration provided by Rule 144 under the
Securities Act of 1933; or
	 
	 	(5)	____	pursuant to an effective registration statement under the Securities Act of
1933; or
	 
	 	(6)	____	to the Company.

If such transfer is being made pursuant to an offshore transaction in accordance with Rule 904
under the Securities Act, the undersigned further certifies that

(i) the offer of the Securities was not made to a person in the United States;

(ii) either (a) at the time the buy offer was originated, the transferee was outside
the United States or we and any person acting on our behalf reasonably believed that the
transferee was outside the United States, or (b) the transaction was executed in, on or
through the facilities of a designated off-shore securities market and neither we nor any
person acting on our behalf knows that the transaction has been pre-arranged with a buyer in
the United States;

(iii) no directed selling efforts have been made in the United States in contravention
of the requirements of Rule 903 or Rule 904 of Regulation S, as applicable;

(iv) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;

(v) we have advised the transferee of the transfer restrictions applicable to the
Securities; and

(vi) if the circumstances set forth in Rule 904(B) under the Securities Act are
applicable, we have complied with the additional conditions therein, including (if
applicable) sending a confirmation or other notice stating that the Securities may be
offered and sold during the distribution compliance period specified in Rule 903 of
Regulation S; pursuant to registration of the Securities under the Securities Act; or
pursuant to an available exemption from the registration requirements under the Securities
Act.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered holder thereof;
provided, however, that if box (2) or (3) is checked, the Trustee shall be entitled to require,
prior to registering any such transfer of the Securities, such legal opinions, certifications and
other information as the Company has reasonably requested to confirm that such transfer is being
made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, such as the exemption provided by Rule 144 under such
Act.

 

2

 

	 	 	 
	 

	 	 
Signature
	 
	 	 
	Signature Guarantee:
	 	 
	 
	 	 
	 
Signature must be guaranteed

	 	 
Signature

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

 
TO BE COMPLETED BY PURCHASER IF (1) ABOVE IS CHECKED.

The undersigned represents and warrants that it is purchasing this Security for its own
account or an account with respect to which it exercises sole investment discretion and that it and
any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

				
	Date:	

 	 	

NOTICE: To be executed by an executive officer

[TO BE ATTACHED TO GLOBAL SECURITIES]

 

3

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

The following increases or decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal amount	 	 	Signature of	 
	 	 	decrease in	 	 	increase in	 	 	of this Global	 	 	authorized	 
	 	 	Principal	 	 	Principal	 	 	Security	 	 	signatory of	 
	 	 	amount of	 	 	amount of	 	 	following such	 	 	Trustee or	 
	Date of	 	this Global	 	 	this Global	 	 	decrease or	 	 	Securities	 
	Exchange	 	Security	 	 	Security	 	 	increase	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

 

OPTION OF HOLDER TO ELECT PURCHASE

If you want to elect to have this Security purchased by the Company pursuant to Section 4.06
or 4.09 of the Indenture, check the box:

[ ]

If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 4.06 or 4.09 of the Indenture, state the amount in principal amount: $__________

	 	 	 	 	 
	Date:

	 	Your Signature:	 	 
	 

	 	 	 	(Sign exactly as your name appears on the
other side of this Security.)

	 	 	 
	Signature Guarantee:
	 	 
	 

	 	(Signature must be guaranteed)

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

 

 

 

EXHIBIT 2

[FORM OF AFFILIATE SUBORDINATION AGREEMENT]

This AFFILIATE SUBORDINATION AGREEMENT, dated (this “Affiliate Subordination Agreement”), is
delivered pursuant to that certain Indenture, dated as of the date hereof (as it may be amended,
supplemented or otherwise modified, the “Indenture”; the terms defined therein and not otherwise
defined herein being used herein as therein defined), between Associated Materials, LLC (“Issuer”),
the Subsidiary Guarantors party thereto and Deutsche Bank Trust Company Americas (the “Trustee”).

Pursuant to Section 4.03(d) of the Indenture, the undersigned hereby agree that all
Indebtedness of Issuer or any of its Restricted Subsidiaries issued to and held by the
undersigned, an Affiliate of Issuer, in each case whether incurred prior to or arising after the
date of this Affiliate Subordination Agreement (the “Affiliate Debt”), shall (i) have a stated
maturity and provide for no payment of the principal of or cash interest or premium, if any,
thereof, prior to six months after the Stated Maturity of the Securities, (ii) constitute
“Affiliate Subordinated Indebtedness” (as such term is defined in the Indenture) and (iii) be
subject to the terms of this Affiliate Subordination Agreement.

1. Subordination to Obligations. Anything in any agreement pursuant to which any of
the Affiliate Debt was created or in any instrument evidencing any of the Affiliate Debt to the
contrary notwithstanding, the Affiliate Debt shall be unsecured and subordinate and junior in right
of payment, to the extent and in the manner provided herein, to the payment in full of the
Obligations to the Holders, whether incurred prior to or arising after the date of this Affiliate
Subordination Agreement.

(a) In the event of (i) any insolvency or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding in connection
therewith, relative to Issuer or any Restricted Subsidiary of Issuer (Issuer and each
Restricted Subsidiary, a “Credit Party”) or to its assets, or (ii) any liquidation,
dissolution or other winding up of any Credit Party, whether voluntary or involuntary and
whether or not involving insolvency or bankruptcy, or (iii) any assignment for the benefit
of creditors or any other marshalling of assets and liabilities of any Credit Party (the
foregoing being a “Proceeding”), then and in any such event the Holders shall be entitled
to receive payment in full of all amounts due or to become due on or in respect of all
Obligations before any of the Affiliate Debt shall be paid, and to that end, subject to any
intercreditor agreement among the Holders and any lenders or holders of indebtedness that
is senior to the Obligations, the Holders shall be entitled to receive, for application to
the payment of the Obligations, any payment or distribution of any kind or character,
whether in cash, property or securities which may be payable or deliverable in respect of
the Affiliate Debt in any such case, proceeding, dissolution, liquidation or other winding
up or event.

 

1

 

(b) In the event and during the continuance of any Event of Default, each
Credit Party agrees that no payment shall be made by any Credit Party on account of
any of the Affiliate Debt (such a Credit Party, an “Obligor Credit Party”) until the
Obligations shall be paid in full, provided that the foregoing shall not prevent the
issuance of additional Affiliate Debt in payment of interest on outstanding Affiliate Debt.

(c) In the event and during the continuance of any event of default (or any event
which with the giving of notice or lapse of time would be an event of default) with respect
to any Affiliate Debt, (i) the Holders shall be entitled to receive payment in full of all
amounts due or to become due on or in respect of all Obligations before the holders of any
of the Affiliate Debt are entitled to receive any payment by the defaulting Credit Party (a
“Defaulting Credit Party”) on account of the principal of or premium, if any, or interest
on any of the Affiliate Debt, and (ii) any obligee of Affiliate Debt party hereto (each, an
“Obligee”) agrees that in any such event it will not, without the prior written consent of
the Holders of a majority in principal amount of the Securities (the “Required Holders”),
take any action to accelerate or declare to be due and payable any Affiliate Debt or to
enforce any remedies against the Defaulting Credit Party prior to payment in full of all
Obligations. Notwithstanding the restriction in the foregoing clause (ii), (i) each Obligee
may file proofs of claim in respect of the Affiliate Debt against any Credit Party and
exercise all voting rights in respect of the Affiliate Debt in any Proceeding involving any
Credit Party, (ii) each Obligee may accelerate the Affiliate Debt if the Obligations shall
have been accelerated and (iii) to the extent necessary (but only to such extent) that the
commencement of a legal action may be required in order to toll the running of any
applicable statute of limitation that might otherwise prevent the Obligee from making
claims in respect of the Affiliate Debt it otherwise could, there shall be no restriction
on the Obligee taking any of the actions referred to in such clause (ii), but in such an
event the Obligee shall give prior written notice to the Holders and any cash, securities
or other amounts received by the Obligee in connection with any such legal action shall be
subject to the terms and conditions of this Agreement).

2. Payment to the Holders of Certain Amounts Received by the Obligee. In the event
that, notwithstanding the foregoing, any distribution of assets by the Defaulting Credit Party or
payment by or on behalf of the Defaulting Credit Party of any kind or character, whether in cash,
securities or other property, to which an Obligee would be entitled but for the provisions of
this Affiliate Subordination Agreement, shall be received by an Obligee before all Obligations
are paid in full, such distribution or payment shall be held in trust for the benefit of, and
shall, immediately upon receipt thereof, be paid over or delivered to the Holders for application
to the payment of the Obligations.

 

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3. Prepayment or Amendment of Affiliate Debt. Whether or not any Event of Default
shall exist with respect to any Obligations, an Obligee agrees that without the prior written
consent of the Required Holders, it will not (i) commence any
proceeding against the Obligor Credit Party under any bankruptcy, insolvency or
receivership law; or (ii) take any collateral security for any Affiliate Debt.

4. Authorizations to the Holders. Each Obligee irrevocably authorizes and empowers
(without imposing any obligation on) the Holders to file and prove all claims for the Affiliate
Debt if the Obligees shall not have filed or proved such claims at least 30 days prior to the
applicable deadline and upon at least 10 days’ prior notice to the Obligees, take all such other
action, in the name of such Obligee, as may be necessary or appropriate for the enforcement of this
Affiliate Subordination Agreement and has not been taken by such Obligees; and (b) agrees to
execute and deliver to the Holders all such further instruments confirming the above authorization,
and all such powers of attorney, proofs of claim, and other instruments, as may be reasonably
requested by the Holders.

5. Notice. Each Obligee agrees, for the benefit of the Holders, that in the event
that any of the Affiliate Debt is in default in any respect, the Credit Parties which are
parties to such Affiliate Debt will give prompt notice thereof in writing to the Holders.

6. No Waiver. No right of the Holders to enforce subordination as herein provided
shall at any time in any way be prejudiced or impaired by any act or failure to act on the part
of any Obligor Credit Party or by any act or failure to act, in good faith, by any holder of the
Obligations, or by any noncompliance by any Obligor Credit Party with the terms, provisions and
covenants of any of the Affiliate Debt or of any agreement pursuant to which the Affiliate Debt
is issued, regardless of any knowledge thereof which the Holders may have or be otherwise
charged with. The Holders may at any time or from to time and in their absolute discretion
consistent with the terms of the Indenture, change the manner, place or terms of payment, change
or extend the time of payment of, or renew or alter, any such Obligations, or amend or
supplement any instrument pursuant to which any such Obligations are issued or by which they may
be secured, or release any security therefor, or exercise or refrain from exercising any other
of their rights under the Obligations including, without limitation, the waiver of default
thereunder, all without notice to or assent from the Obligees and without affecting the
obligations of the Obligor Credit Parties under this Affiliate Subordination Agreement.

7. No Subrogation. No Obligee shall be subrogated to the rights of the Holders to
receive distribution of assets of any Obligor Credit Party, or payments by or on behalf of any
Obligor Credit Party, made on the Obligations, until all the Obligations shall have been paid in
full.

 

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8. Benefit of Affiliate Subordination Agreement. This Agreement is intended solely to
define the relative rights of the Holders, the Obligor Credit Parties and the Obligees and their
respective successors and assigns. Nothing contained in this Affiliate Subordination Agreement is
intended to or shall impair, as between any Obligor Credit Party and any Obligee, the obligations
of the Obligor Credit Parties, which are absolute and unconditional, to pay to the Obligees the
Affiliate Debt as and when the same shall become due and payable in accordance with the terms
thereof, or is intended
to or shall affect the relative rights of the Obligees and creditors of the Obligor Credit Parties,
as permitted under the Indenture, other than the Holders. In particular, for so long as no Default
or Event of Default or any default or event of default under the Affiliate Debt has occurred and is
continuing the Obligees shall have a right to receive, and the Obligor Credit Parties shall have a
right to make, scheduled payments on Affiliate Debt.

9. Further Assurances. Each Obligee, at its own cost, will take all such further
actions, including entering into additional agreements, giving notices to holders of Affiliate Debt
and taking such further action as the Holders may reasonably request in order to more fully carry
out the intent and purpose of this Affiliate Subordination Agreement.

10. Additional Obligees. Each future Restricted Subsidiary of Issuer and each other
future Affiliate that, in either case, is the obligee with respect to Affiliate Debt shall be
deemed to become an Obligee hereunder bound by this Agreement. Issuer shall cause all of its future
Restricted Subsidiaries and each of its other Affiliates that is the obligee with respect to
Affiliate Debt to execute simultaneously with and as a precondition to such Person becoming a
Restricted Subsidiary or any other Affiliate that is the obligee with respect to Affiliate Debt, as
the case may be, a counterpart signature page to this Agreement and otherwise acknowledge its
agreement to be bound by the provisions hereof; provided that the failure of a Restricted
Subsidiary or any other Affiliate to execute this Agreement shall not in any way reduce such
Person’s obligations hereunder.

11. Amendment Termination and Assignment. This Affiliate Subordination Agreement may
not be amended, modified or terminated without the prior written consent of the Holders. The
Holders may assign any of the Obligations or grant participations therein from time to time, and
any such assignee or holder of a participation interest shall be entitled to all of the rights of
the Holders hereunder with respect to the Obligations so assigned or as to which a participation
interest has been granted. In case of any assignment of any Affiliate Debt, the Obligee thereunder
shall ensure that the assignee becomes a party of this Agreement.

12. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF.

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