Document:

exv10w1

Exhibit 10.1

Execution Copy

AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 10, 2010

among

OIL STATES INTERNATIONAL, INC.,

PTI GROUP INC.,

PTI PREMIUM CAMP SERVICES LTD.,

as Borrowers

THE LENDERS NAMED HEREIN,

WELLS FARGO BANK, N.A.,

as Administrative Agent, U.S. Collateral Agent,

the U.S. Swing Line Lender and an Issuing Bank,

ROYAL BANK OF CANADA,

as Canadian Administrative Agent,

Canadian Collateral Agent and the Canadian Swing Line Lender

JPMORGAN CHASE BANK, N.A.,

as Syndication Agent

and

THE TORONTO-DOMINION BANK and THE BANK OF NOVA SCOTIA,

as Co-Documentation Agents

 

WELLS FARGO SECURITIES, LLC, RBC CAPITAL MARKETS

and J.P. MORGAN SECURITIES LLC

as Co-Lead Arrangers and Joint Bookrunners

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS
	 	 	2	 
	 
	 	 	 	 
	Section 1.01 Defined Terms
	 	 	2	 
	Section 1.02 Terms Generally
	 	 	36	 
	Section 1.03 Several Obligations; Power of Attorney
	 	 	37	 
	Section 1.04 Classification of Loans and Borrowings
	 	 	37	 
	Section 1.05 Exchange Rate Calculations
	 	 	37	 
	Section 1.06 Additional Alternative Currencies
	 	 	37	 
	 
	 	 	 	 
	ARTICLE II THE CREDITS
	 	 	38	 
	 
	 	 	 	 
	Section 2.01 Commitments
	 	 	38	 
	Section 2.02 Loans
	 	 	39	 
	Section 2.03 Borrowing Procedure
	 	 	42	 
	Section 2.04 Evidence of Debt; Repayment of Loans
	 	 	43	 
	Section 2.05 Fees
	 	 	45	 
	Section 2.06 Interest on Loans
	 	 	46	 
	Section 2.07 Default Interest
	 	 	48	 
	Section 2.08 Alternate Rate of Interest
	 	 	48	 
	Section 2.09 Termination and Reduction of Commitments
	 	 	48	 
	Section 2.10 Conversion and Continuation of Borrowings
	 	 	49	 
	Section 2.11 Optional Prepayment
	 	 	50	 
	Section 2.12 Mandatory Prepayments
	 	 	51	 
	Section 2.13 Increased Costs; Capital Requirements
	 	 	52	 
	Section 2.14 Change in Legality
	 	 	53	 
	Section 2.15 Breakage Costs
	 	 	54	 
	Section 2.16 Pro Rata Treatment
	 	 	55	 
	Section 2.17 Sharing of Setoffs
	 	 	55	 
	Section 2.18 Payments
	 	 	57	 
	Section 2.19 Taxes
	 	 	57	 
	Section 2.20 Assignment of Commitments Under Certain
Circumstances; Duty to Mitigate
	 	 	59	 
	Section 2.21 Letters of Credit
	 	 	60	 
	Section 2.22 Bankers’ Acceptances
	 	 	67	 
	Section 2.23 Swing Line Loans
	 	 	70	 
	Section 2.24 Defaulting Lenders
	 	 	74	 
	 
	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
	 	 	77	 
	 
	 	 	 	 
	Section 3.01 Organization; Powers
	 	 	77	 
	Section 3.02 Authorization
	 	 	77	 
	Section 3.03 Enforceability
	 	 	77	 
	Section 3.04 Governmental Approvals
	 	 	78	 
	Section 3.05 Financial Statements
	 	 	78	 
	Section 3.06 No Material Adverse Change
	 	 	78	 
	Section 3.07 Title to Properties; Possession Under Leases
	 	 	79	 

-i-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 3.08 Subsidiaries and Special Purposes Business Entities
	 	 	79	 
	Section 3.09 Litigation; Compliance with Laws
	 	 	79	 
	Section 3.10 Agreements
	 	 	79	 
	Section 3.11 Federal Reserve Regulations
	 	 	80	 
	Section 3.12 Investment Company Act
	 	 	80	 
	Section 3.13 Use of Proceeds
	 	 	80	 
	Section 3.14 Tax Returns
	 	 	80	 
	Section 3.15 No Material Misstatements
	 	 	80	 
	Section 3.16 Employee Benefit Plans
	 	 	80	 
	Section 3.17 Environmental Matters
	 	 	82	 
	Section 3.18 Insurance
	 	 	82	 
	Section 3.19 Security Documents
	 	 	82	 
	Section 3.20 Intellectual Property
	 	 	83	 
	Section 3.21 Labor Matters
	 	 	83	 
	Section 3.22 Solvency
	 	 	83	 
	Section 3.23 Foreign Assets Control Regulations, etc.
	 	 	83	 
	 
	 	 	 	 
	ARTICLE IV CONDITIONS OF LENDING
	 	 	84	 
	 
	 	 	 	 
	Section 4.01 All Credit Events
	 	 	84	 
	Section 4.02 First Credit Event
	 	 	84	 
	 
	 	 	 	 
	ARTICLE V AFFIRMATIVE COVENANTS
	 	 	88	 
	 
	 	 	 	 
	Section 5.01 Existence; Businesses and Properties
	 	 	89	 
	Section 5.02 Insurance
	 	 	89	 
	Section 5.03 Obligations and Taxes
	 	 	90	 
	Section 5.04 Financial Statements, Reports, etc.
	 	 	90	 
	Section 5.05 Litigation and Other Notices
	 	 	92	 
	Section 5.06 Information Regarding Collateral
	 	 	93	 
	Section 5.07 Maintaining Records; Access to Properties and Inspections
	 	 	93	 
	Section 5.08 Use of Proceeds
	 	 	93	 
	Section 5.09 Further Assurances
	 	 	93	 
	 
	 	 	 	 
	ARTICLE VI NEGATIVE COVENANTS
	 	 	95	 
	 
	 	 	 	 
	Section 6.01 Indebtedness
	 	 	95	 
	Section 6.02 Liens
	 	 	95	 
	Section 6.03 Sale and Lease-Back Transactions
	 	 	98	 
	Section 6.04 Investments, Loans and Advances
	 	 	98	 
	Section 6.05 Mergers, Consolidations, Sales of Assets and Acquisitions
	 	 	99	 
	Section 6.06 Restricted Payments; Restrictive Agreements
	 	 	100	 
	Section 6.07 Transactions with Affiliates
	 	 	101	 
	Section 6.08 Business of Borrowers and Subsidiaries
	 	 	101	 
	Section 6.09 Other Indebtedness and Agreements
	 	 	101	 
	Section 6.10 Interest Coverage Ratio
	 	 	102	 

-ii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 6.11 Maximum Leverage Ratio
	 	 	102	 
	Section 6.12 Hedging Agreements
	 	 	102	 
	Section 6.13 [Reserved]
	 	 	102	 
	Section 6.14 Pension Plans
	 	 	102	 
	Section 6.15 Amendment of the MAC Merger Instruments
	 	 	102	 
	Section 6.16 MAC Group
	 	 	102	 
	Section 6.17 Deposit to MAC Trust Account
	 	 	103	 
	 
	 	 	 	 
	ARTICLE VII EVENTS OF DEFAULT
	 	 	103	 
	 
	 	 	 	 
	Section 7.01 Events of Default
	 	 	103	 
	Section 7.02 Optional Acceleration of Maturity
	 	 	105	 
	Section 7.03 Automatic Acceleration of Maturity
	 	 	105	 
	Section 7.04 Non-exclusivity of Remedies
	 	 	106	 
	Section 7.05 Application of Proceeds
	 	 	106	 
	 
	 	 	 	 
	ARTICLE VIII THE ADMINISTRATIVE AGENTS, THE COLLATERAL AGENTS,
THE ISSUING BANKS AND THE SWING LINE LENDERS
	 	 	107	 
	 
	 	 	 	 
	Section 8.01 Appointment and Authority
	 	 	107	 
	Section 8.02 Rights as a Lender
	 	 	107	 
	Section 8.03 Exculpatory Provisions
	 	 	108	 
	Section 8.04 Reliance by the Agents, the Issuing Banks
and the Swing Line Lenders
	 	 	109	 
	Section 8.05 Delegation of Duties
	 	 	109	 
	Section 8.06 Resignation of an Agent or a Swing Line Lender
	 	 	109	 
	Section 8.07 Non-Reliance on Agents and Other Lenders;
Certain Acknowledgments
	 	 	110	 

	 	 	 	 	 

	Section 8.08 Indemnification
	 	 	111	 
	Section 8.09 Collateral and Guaranty Matters
	 	 	111	 
	Section 8.10 No Other Duties, etc.
	 	 	113	 
	Section 8.11 Agents May File Proofs of Claim
	 	 	113	 
	 
	 	 	 	 
	ARTICLE IX MISCELLANEOUS
	 	 	114	 
	 
	 	 	 	 
	Section 9.01 Notices
	 	 	114	 
	Section 9.02 Survival of Agreement
	 	 	116	 
	Section 9.03 Binding Effect
	 	 	116	 
	Section 9.04 Successors and Assigns
	 	 	116	 
	Section 9.05 Expenses; Indemnity
	 	 	121	 
	Section 9.06 Right of Setoff
	 	 	123	 
	Section 9.07 Applicable Law
	 	 	124	 
	Section 9.08 Waivers; Amendment
	 	 	124	 
	Section 9.09 Interest Rate Limitation
	 	 	127	 
	Section 9.10 Entire Agreement
	 	 	127	 

-iii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 9.11 WAIVER OF JURY TRIAL
	 	 	127	 
	Section 9.12 Severability
	 	 	128	 
	Section 9.13 Counterparts
	 	 	128	 
	Section 9.14 Headings
	 	 	128	 
	Section 9.15 Jurisdiction; Consent to Service of Process
	 	 	128	 
	Section 9.16 Confidentiality
	 	 	129	 
	Section 9.17 Judgment Currency
	 	 	130	 
	Section 9.18 Exculpation Provisions
	 	 	130	 
	Section 9.19 Payments Set Aside
	 	 	131	 
	Section 9.20 Termination
	 	 	131	 
	Section 9.21 Patriot Act Notice
	 	 	131	 
	Section 9.22 Amendment and Restatement
	 	 	131	 

-iv-

 

	 	 	 

	Schedule 1.01(a)
	 	Rolled Letters of Credit
	Schedule 1.01(b)
	 	U.S. Subsidiary Guarantors
	Schedule 1.01(c)
	 	Canadian Subsidiary Guarantors
	Schedule 2.01
	 	Lenders and Commitments
	Schedule 3.08
	 	Subsidiaries and Special Purpose Business Entities
	Schedule 3.09
	 	Litigation
	Schedule 3.16(a)
	 	Unfunded Plans
	Schedule 3.16(b)
	 	Canadian Benefit Plans
	Schedule 3.17
	 	Environmental Matters
	Schedule 6.01
	 	Outstanding Indebtedness on Effective Date
	Schedule 6.02
	 	Liens Existing on Effective Date
	Schedule 6.04
	 	Existing Investments
	 
	 	 
	Exhibit A
	 	[Reserved]
	Exhibit B
	 	Form of Assignment and Acceptance
	Exhibit C-1
	 	Form of U.S. Borrowing Request
	Exhibit C-2
	 	Form of Canadian Borrowing Request
	Exhibit C-3
	 	Form of Swing Line Borrowing Request
	Exhibit D
	 	[Reserved]
	Exhibit E-1
	 	Form of U.S. Pledge Agreement
	Exhibit E-2
	 	Form of Canadian Pledge Agreement
	Exhibit F-1
	 	Form of U.S. Security Agreement
	Exhibit F-2
	 	Form of Canadian Security Agreement
	Exhibit F-3
	 	Form of Australian Security Agreement
	Exhibit G-1
	 	Form of U.S. Subsidiary Guarantee Agreement
	Exhibit G-2
	 	Form of Canadian Subsidiary Guarantee Agreement
	Exhibit G-3
	 	Form of U.S. Borrower Guarantee Agreement
	Exhibit G-4
	 	Form of PTI Holdco Sub Guarantee Agreement
	Exhibit G-5
	 	Form of Australian Guarantee Agreement
	Exhibit H-1
	 	Form of Opinion of Vinson & Elkins L.L.P.
	Exhibit H-2
	 	Form of Opinion of Fraser Milner Casgrain LLP
	Exhibit I
	 	Form of Compliance Certificate
	Exhibit J
	 	Form of Discount Note

-v-

 

THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 10, 2010, is
among OIL STATES INTERNATIONAL, INC., a Delaware corporation (the “U.S.
Borrower”), PTI GROUP INC., a corporation amalgamated under the laws of the
Province of Alberta (the “Canadian Parent”), PTI PREMIUM CAMP SERVICES LTD.,
a corporation amalgamated under the laws of the Province of Alberta (“PTI
Premium” and, together with the Canadian Parent, the “Canadian Borrowers”
and, together with the U.S. Borrower, the “Borrowers”), the Lenders (as
defined in Article I), WELLS FARGO BANK, N.A. (“Wells Fargo”), as
administrative agent (in such capacity, the “Administrative Agent”) for the
Lenders and as U.S. collateral agent (in such capacity, the “U.S. Collateral
Agent”) for the Lenders, and ROYAL BANK OF CANADA (“RBC”), as administrative
agent (in such capacity, the “Canadian Administrative Agent”) for the
Canadian Lenders (as defined in Article I), and as Canadian collateral agent
(in such capacity, the “Canadian Collateral Agent”) for the Canadian
Lenders.

     The U.S. Borrower, the Canadian Parent, the lenders and agents party thereto, and Wells Fargo,
as administrative agent for such lenders, are parties to that certain Credit Agreement dated as of
October 30, 2003, as amended by Amendment No. 1 thereto dated as of January 31, 2005, Amendment No.
2 thereto dated as of December 5, 2006 and Amendment No. 3 thereto dated as of October 1, 2009 (as
amended, the “Existing Credit Agreement”). The parties hereto desire to amend and restate the
Existing Credit Agreement in its entirety.

     The U.S. Borrower has requested the U.S. Lenders to extend credit in the form of U.S. Loans to
the U.S. Borrower in an aggregate principal amount at any time outstanding not in excess of
U.S.$700,000,000. The Canadian Borrowers have requested the Canadian Lenders to extend credit in
the form of Canadian Loans to the Canadian Borrowers in an aggregate principal amount at any time
outstanding not in excess of U.S.$350,000,000 (or the Canadian Dollar Equivalent thereof). The
Borrowers have requested the Issuing Banks to issue Letters of Credit to support payment
obligations of the Borrowers and the Subsidiaries incurred in the ordinary course of business.

     To evidence the credit facilities requested hereunder, the parties hereto have agreed that
this Agreement is an amendment and restatement of the Existing Credit Agreement, not a new or
substitute credit agreement or novation of the Existing Credit Agreement, and each reference to a
“Loan” or a “Letter of Credit” shall include each Loan made and each Letter of Credit issued
heretofore under the Existing Credit Agreement as well as each Loan made and each Letter of Credit
issued hereafter under this Agreement.

     In consideration of the mutual covenants and agreements herein contained, the parties hereto
hereby (a) agree that the Existing Credit Agreement is amended and restated in its entirety by this
Agreement and (b) further agree as follows:

 

ARTICLE I

Definitions

     SECTION 1.01 Defined Terms. As used in this Agreement, the following terms shall have the
meanings specified below:

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

     “Acceptance Fee” shall mean a fee payable in Canadian dollars by a Canadian Borrower to the
Canadian Administrative Agent for the account of a Canadian Lender with respect to the acceptance
of a B/A or the making of a B/A Equivalent Loan on the date of such acceptance or loan, calculated
on the face amount of the B/A or the B/A Equivalent Loan at the rate per annum applicable on such
date as set forth in the row labeled “Eurocurrency/B/A Spread” in the definition of the term
“Applicable Percentage” on the basis of the number of days in the applicable Contract Period
(including the date of acceptance and excluding the date of maturity) and a year of 365 days (it
being agreed that the rate per annum applicable to any B/A Equivalent Loan is equivalent to the
rate per annum otherwise applicable to the Bankers’ Acceptance which has been replaced by the
making of such B/A Equivalent Loan pursuant to Section 2.22).

     “Adjusted LIBO Rate” shall mean, with respect to any Eurocurrency Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal
to the product of (a) the LIBO Rate in effect for such Interest Period and (b) Statutory Reserves.

     “Administrative Agent Fee Letters” shall mean (a) the Fee Letter and (b) the letter dated as
of December 10, 2010 between the Canadian Parent and the Canadian Administrative Agent.

     “Administrative Agent Fees” shall have the meaning assigned to such term in Section 2.05(b).

     “Administrative Agents” shall mean the Administrative Agent and the Canadian Administrative
Agent.

     “Administrative Questionnaire” shall mean an administrative questionnaire in a form supplied
from time to time by the Applicable Administrative Agent.

     “Affiliate” shall mean, when used with respect to a specified person, another person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is
under common Control with the person specified; provided, however, that for purposes of Section
6.07, the term “Affiliate” shall also include any person that directly or indirectly owns 5% or
more of any class of Equity Interests of the person specified or that is an officer or director of
the person specified.

     “Agents” shall mean, collectively, the Administrative Agents and the Collateral Agents.

-2-

 

     “Aggregate L/C Exposure” shall mean, at any time, the sum of the U.S. L/C Exposure and the
U.S. Dollar Equivalent of the Canadian L/C Exposure at such time.

     “Agreement” shall mean this Amended and Restated Credit Agreement dated as of December 10,
2010 among the Borrowers, the Lenders, and the Agents.

     “Alternate Base Rate” shall mean, for any day, a rate per annum equal to the greatest of (a)
the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1.0% and (c) the Adjusted LIBO Rate for such day (or if such day is not a Business Day,
the immediately preceding Business Day) for a deposit in U.S. dollars with a maturity of one month
plus 1.0%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal
Funds Effective Rate or the Adjusted LIBO Rate shall be effective on the effective date of such
change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively.

     “Alternative Currency” shall mean the Euro, Pounds Sterling, Japanese Yen, Singapore Dollar,
Australian Dollar, Hong Kong Dollar, Mexican Peso, Indian Rupee, Kuwaiti Dinar and each other
currency (other than U.S. dollars or Canadian dollars) that is approved in accordance with Section
1.06.

     “Applicable Administrative Agent” shall mean (a) the Administrative Agent, with respect to any
U.S. Loan or U.S. Letter of Credit, and (b) the Canadian Administrative Agent, with respect to any
Canadian Loan or Canadian Letter of Credit.

     “Applicable Borrower” shall mean (a) the U.S. Borrower, with respect to the U.S. Revolving
Credit Facility or the U.S. Term Loan Facility and (b) either the Canadian Parent or PTI Premium,
with respect to the Canadian Revolving Credit Facility or the Canadian Term Loan Facility.

     “Applicable Collateral Agent” shall mean (a) the U.S. Collateral Agent, with respect to the
U.S. Security Documents and the U.S. Collateral, or (b) the Canadian Collateral Agent, with respect
to the Canadian Security Documents and the Canadian Collateral.

     “Applicable Issuing Bank” shall mean (a) Wells Fargo, JPMorgan Chase Bank, N.A., Capital One,
N.A. or any other Issuing Bank that has issued, or has a commitment to issue, U.S. Letters of
Credit, with respect to U.S. Letters of Credit, and (b) RBC, The Toronto-Dominion Bank, The Bank of
Nova Scotia or any other Issuing Bank that has issued, or has a commitment to issue, Canadian
Letters of Credit, with respect to Canadian Letters of Credit.

     “Applicable Lender” shall mean (a) when used with respect to the U.S. Revolving Credit
Facility, the U.S. Term Loan Facility, the Canadian Revolving Credit Facility or the Canadian Term
Loan Facility, a Lender that has a Commitment or holds a Loan with respect to such Facility, (b)
with respect to the Letter of Credit Commitment, (i) the Issuing Banks and (ii) if any L/C
Disbursements have been made by an Issuing Bank and not reimbursed or refinanced by Section
2.02(g), either the Canadian Revolving Lenders or the U.S. Revolving Lenders, as the case may be,
and (c) with respect to the U.S. Swing Line Sublimit or the Canadian Swing Line Sublimit, the
Applicable Swing Line Lender.

-3-

 

     “Applicable Percentage” shall mean, for any day, with respect to any Eurocurrency Loan, ABR
Loan, B/A Loan, Canadian Prime Rate Loan, U.S. Base Rate Loan or the Commitment Fee, the applicable
percentage set forth below under the applicable caption, based upon the Leverage Ratio as of the
relevant date of determination:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	ABR, Canadian Prime	 	 	 	 
	 	 	Eurocurrency/B/A	 	 	Rate and U.S. Base	 	 	Commitment Fee	 
	Leverage Ratio	 	Spread	 	 	Rate Spread	 	 	Percentage	 
	Category 1
	 	 	 	 	 	 	 	 	 	 	 	 
	Less than 1.50
to 1.00
	 	 	2.00	%	 	 	1.00	%	 	 	0.375	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Category 2
	 	 	 	 	 	 	 	 	 	 	 	 
	Greater than or
equal to 1.50
to 1.00 but
less than 2.00
to 1.00
	 	 	2.25	%	 	 	1.25	%	 	 	0.375	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Category 3
	 	 	 	 	 	 	 	 	 	 	 	 
	Greater than or
equal to 2.00
to 1.00 but
less than 2.50
to 1.00
	 	 	2.50	%	 	 	1.50	%	 	 	0.50	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Category 4
	 	 	 	 	 	 	 	 	 	 	 	 
	Greater than or
equal to 2.50
to 1.00 but
less than 3.00
to 1.00
	 	 	2.75	%	 	 	1.75	%	 	 	0.50	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Category 5
	 	 	 	 	 	 	 	 	 	 	 	 
	Greater than or
equal to 3.00
to 1.00
	 	 	3.00	%	 	 	2.00	%	 	 	0.50	%

     Each change in the Applicable Percentage resulting from a change in the Leverage Ratio
shall be effective with respect to all Loans and Letters of Credit outstanding on and after the
date of delivery to the Administrative Agent of the financial statements required by Section
5.04(a) or (b) and the Compliance Certificate required by Section 5.04(c), respectively, indicating
such change until the date immediately preceding the next date of delivery of such financial
statements indicating another such change; provided, however, that at any time during which the
U.S. Borrower has failed to deliver when due the financial statements required by Section 5.04(a)
or (b) and the Compliance Certificate required by Section 5.04(c), respectively, the Leverage Ratio
shall be deemed to be in Category 5 for purposes of determining the Applicable Percentage.
Notwithstanding the foregoing, (x) from the Effective Date through but excluding the date of
delivery to the Administrative Agent of financial statements required by Section 5.04(a) or (b) and
the Compliance Certificate required by Section 5.04(c), respectively, the Leverage Ratio shall be
deemed to be in Category 3 for purposes of determining the Applicable Percentage and (y)
thereafter, the Applicable Percentage shall be based on the Leverage Ratio reflected in the most
recently delivered financial statements required by Section 5.04(a) or (b) and the Compliance
Certificate required by Section 5.04(c), respectively.

     “Applicable Pro Rata Percentage” shall mean the Canadian Applicable Pro Rata Percentage or the
U.S. Applicable Pro Rata Percentage, as the context may require.

-4-

 

     “Applicable Required Lenders” shall mean (a) the Required U.S. Revolving Lenders with respect
to the U.S. Revolving Credit Facility, (b) the Required U.S. Term Lenders with respect to the U.S.
Term Loan Facility, (c) the Required Canadian Revolving Lenders with respect to the Canadian
Revolving Credit Facility or (d) the Required Canadian Term Lenders with respect to the Canadian
Term Loan Facility.

     “Applicable Swing Line Lender” shall mean (a) with respect to the U.S. Swing Line Sublimit,
(i) the U.S. Swing Line Lender and (ii) if any U.S. Swing Line Loans are outstanding pursuant to
Section 2.23(c), the U.S. Revolving Lenders and (b) with respect to the Canadian Swing Line
Sublimit, (i) the Canadian Swing Line Lender and (ii) if any Canadian Swing Line Loans are
outstanding pursuant to Section 2.23(c), the Canadian Revolving Lenders.

     “Approved Fund” shall mean any Fund that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     “Asset Sale” shall mean the sale, transfer or other disposition (by way of merger, casualty,
condemnation or otherwise) of any or all of the property of the U.S. Borrower or any of its
Subsidiaries to any person other than the U.S. Borrower or any of its Subsidiaries (other than (a)
Equity Interests in the U.S. Borrower or directors’ qualifying shares in any Subsidiary, (b)
inventory, damaged, obsolete or worn out assets, scrap and Permitted Investments, in each case
disposed of in the ordinary course of business, or (c) dispositions between or among Subsidiaries
that are not Loan Parties)), provided that any asset sale or series of related asset sales
described above having a value not in excess of U.S.$1,000,000 shall be deemed not to be an “Asset
Sale” for purposes of this Agreement.

     “Assignee Group” shall mean two or more Eligible Assignees that are Affiliates of one another
or two or more Approved Funds managed by the same investment advisor.

     “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender
and an assignee (with the consent of any party whose consent is required by Section 9.04) and
accepted by the Applicable Administrative Agent, in substantially the form of Exhibit B or such
other form as shall be approved by the Applicable Administrative Agent.

     “Australian Guarantee Agreement” shall mean the Australian Guarantee Agreement, substantially
in the form of Exhibit G-5, between PTI Australia 1 and PTI Australia 2 (as guarantors) in favor of
the Canadian Collateral Agent for the benefit of the Canadian Secured Parties.

     “Australian Security Agreements” shall mean the first ranking fixed and floating charges
substantially in the form of Exhibit F-3 granted by PTI Australia 1 and PTI Australia 2 in favor of
the Canadian Collateral Agent for the benefit of the Canadian Secured Parties.

     “AutoBorrow Agreement” shall mean any agreement providing for automatic borrowing services
between a Loan Party and a Swing Line Lender.

-5-

 

     “B/A Discount Rate” shall mean:

     (a) in relation to a Bankers’ Acceptance accepted by a Schedule I Bank, the CDOR Rate;

     (b) in relation to a Bankers’ Acceptance accepted by a Schedule II Bank or Schedule III Bank,
the lesser of:

          (i) the annual interest rate equivalent to the arithmetic average of the Discount Rate then
applicable to Bankers’ Acceptances accepted by the Schedule II Reference Banks or the Schedule III
Reference Banks; and

          (ii) the CDOR Rate plus 0.10% per annum;

provided that, if both such rates are equal, then the “B/A Discount Rate” applicable thereto shall
be the rate specified in (i) above; and

     (c) in relation to a B/A Equivalent Loan:

          (i) made by a Schedule I Bank, the CDOR Rate;

     (ii) made by a Schedule II Bank or Schedule III Bank, the rate determined in accordance with
subparagraph (b) of this definition; and

     (iii) made by any other Lender, the CDOR Rate plus 0.10% per annum.

     “B/A Equivalent Loan” shall have the meaning assigned to such term in Section 2.22(h).

     “B/A Loan” shall mean a Borrowing comprised of one or more Bankers’ Acceptances or, as
applicable, B/A Equivalent Loans. For greater certainty, all provisions of this Agreement that are
applicable to Bankers’ Acceptances are also applicable, mutatis mutandis, to B/A Equivalent Loans.

     “Bankers’ Acceptance” and “B/A” shall mean a non-interest bearing draft denominated in
Canadian dollars, drawn by a Canadian Borrower, and accepted by a Canadian Revolving Lender in
accordance with this Agreement, and may include a depository note within the meaning of the
Depository Bills and Notes Act (Canada) and a bill of exchange within the meaning of the Bills of
Exchange Act (Canada).

     “Banking Services” shall mean each and any of the following bank services provided to the U.S.
Borrower or any Subsidiary by any Lender or any Affiliate of a Lender: (a) commercial credit cards,
(b) stored value cards and (c) treasury management services (including, without limitation,
controlled disbursement, automated clearinghouse transactions, return items, overdrafts and
interstate depository network services).

     “Banking Services Obligations” shall mean any and all obligations of the U.S. Borrower or any
Subsidiary, whether absolute or contingent and howsoever and whensoever created,

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arising, evidenced or acquired (including all renewals, extensions and modifications thereof
and substitutions therefor) in connection with Banking Services.

     “Board” shall mean the Board of Governors of the Federal Reserve System of the United States
of America.

     “Borrower Materials” shall have the meaning assigned to such term in Section 5.04.

     “Borrowing” shall mean a Canadian Revolving Borrowing, a Canadian Term Borrowing, a U.S.
Revolving Borrowing, a U.S. Term Borrowing or a Swing Line Borrowing.

     “Borrowing Request” shall mean a request by a Borrower in accordance with the terms of Section
2.03 and substantially in the form of Exhibit C-1, C-2, or C-3, as applicable, or such other form
as shall be reasonably approved by the Applicable Administrative Agent.

     “Breakage Event” shall have the meaning assigned to such term in Section 2.15.

     “Business Day” shall mean (a) when used in connection with a Loan, Letter of Credit or payment
denominated in U.S. dollars, any day other than a Saturday, Sunday or any day on which banks in
Charlotte, Houston and New York City are authorized or required by law to close; provided, however,
that when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude
any day on which banks are not open for dealings in deposits in U.S. dollars in the London
interbank market, (b) when used in connection with a Canadian Loan, Canadian Letter of Credit or
payment denominated in Canadian dollars or U.S. dollars under the Canadian Revolving Credit
Facility or Canadian Term Loan Facility, any day other than a Saturday, Sunday or any day on which
banks in Toronto, Ontario and Calgary, Alberta are authorized or required by law to close and (c)
when used in connection with a Letter of Credit or payment denominated in an Alternative Currency,
any day on which banks are open for foreign exchange business in the principal financial center of
the country of such Alternate Currency and on which the relevant office of the Applicable Issuing
Bank is not authorized or required by law to close.

     “Calculation Date” shall mean (a) the first Business Day of each month, (b) the date of each
Borrowing Request with respect to a Canadian Loan and (c) the Business Day preceding the issuance,
amendment, extension or renewal of each Letter of Credit denominated in Canadian dollars or an
Alternative Currency; provided, however, that none of the foregoing shall constitute a Calculation
Date unless at the time thereof (or after giving effect to any Borrowing or Letter of Credit then
being requested) Canadian Loans denominated in Canadian dollars or Letters of Credit denominated in
Alternative Currencies are outstanding.

     “Canadian Applicable Pro Rata Percentage” shall mean with respect to any Canadian Revolving
Lender or Canadian Term Lender, the Canadian Revolving Pro Rata Percentage or the Canadian Term
Loan Pro Rata Percentage, respectively.

     “Canadian Benefit Plans” shall mean all employee benefit plans of any nature or kind
whatsoever that are not Canadian Pension Plans and are maintained or contributed to by the Canadian
Parent or any of the Canadian Subsidiaries, in each case covering employees in Canada.

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     “Canadian Collateral” shall mean all “Collateral” as defined in any Canadian Security Document
and, for the avoidance of doubt and in respect of the Australia Security Agreements, shall mean
“Secured Property” as defined in the Australian Security Agreements.

     “Canadian Commitment” shall mean a Canadian Revolving Commitment or a Canadian Term
Commitment, as the context requires.

     “Canadian Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a).

     “Canadian Dollar Equivalent” shall mean, on any date of determination, with respect to any
amount in U.S. dollars, the equivalent in Canadian dollars of such amount, determined by the
Administrative Agent using the Exchange Rate then in effect.

     “Canadian dollars” and “C$” shall mean lawful currency of Canada.

     “Canadian GAAP” shall mean generally accepted accounting principles in Canada, as recommended
from time to time by the Canadian Institute of Chartered Accountants, applied on a consistent
basis.

     “Canadian L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount of
all outstanding Canadian Letters of Credit at such time plus (b) the aggregate principal amount of
all L/C Disbursements in respect of Canadian Letters of Credit that have not yet been reimbursed at
such time. The Canadian L/C Exposure of any Canadian Revolving Lender at any time shall mean its
Canadian Revolving Pro Rata Percentage of the aggregate Canadian L/C Exposure at such time.

     “Canadian L/C Participation Fee” shall have the meaning assigned to such term in Section
2.05(c).

     “Canadian Lenders” shall mean Lenders having Canadian Commitments or outstanding Canadian
Loans.

     “Canadian Loans” shall mean a Canadian Revolving Credit Loan or a Canadian Term Loan.

     “Canadian Pension Plans” shall mean each plan that is considered to be a pension plan for the
purposes of any applicable pension benefits standards statute and/or regulation in Canada
established, maintained or contributed to by a Canadian Borrower or any of the Canadian
Subsidiaries for its employees or former employees.

     “Canadian Pledge Agreement” shall mean the Canadian Pledge Agreement, substantially in the
form of Exhibit E-2, among PTI Holdco Sub, the Canadian Borrowers, the Canadian Subsidiary
Guarantors party thereto and the Canadian Collateral Agent for the benefit of the Canadian Secured
Parties.

     “Canadian Prime Rate” shall mean, on any day, the annual rate of interest equal to the greater
of:

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     (a) the annual rate of interest announced from time to time by the Canadian Administrative
Agent as its prime rate in effect at its principal office in Toronto, Ontario on such day for
determining interest rates on Canadian dollar-denominated commercial loans made in Canada; and

     (b) the annual rate of interest equal to the sum of (i) the CDOR Rate in effect on such day
and (ii) 1%.

When used in reference to any Loan or Borrowing, “Canadian Prime Rate” refers to whether such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the Canadian Prime Rate.

     “Canadian Revolving Borrowing” shall mean a group of Canadian Revolving Credit Loans of a
single Type made, converted or continued by the Canadian Revolving Lenders on a single date and, in
the case of a Eurocurrency Borrowing, as to which a single Interest Period is in effect and, in the
case of a B/A Borrowing, as to which a single Contract Period is in effect.

     “Canadian Revolving Commitment” shall mean, with respect to each Canadian Revolving Lender,
the commitment of such Canadian Revolving Lender to (a) make Canadian Revolving Credit Loans
hereunder, (b) purchase participations in the Canadian L/C Exposure and (c) purchase participations
in Canadian Swing Line Loans, in an aggregate principal amount not to exceed the amount set forth
opposite such Lender’s name on Schedule 2.01 under the caption “Canadian Revolving Credit
Commitment”, or in the Assignment and Acceptance pursuant to which such Canadian Revolving Lender
assumed its Canadian Revolving Commitment, as applicable, as the same may be (i) reduced from time
to time pursuant to Section 2.09 and (ii) reduced or increased from time to time pursuant to
assignments by or to such Canadian Revolving Lender pursuant to Section 9.04. The aggregate amount
of the Canadian Revolving Commitments as of the Effective Date is $250,000,000.

     “Canadian Revolving Credit Exposure” shall mean, with respect to any Canadian Revolving Lender
at any time, the aggregate principal amount at such time of all outstanding Canadian Revolving
Credit Loans of such Lender denominated in U.S. dollars, plus the U.S. Dollar Equivalent of the
aggregate principal amount at such time of all outstanding Canadian Revolving Credit Loans of such
Canadian Revolving Lender denominated in Canadian dollars, plus the U.S. Dollar Equivalent of the
aggregate amount at such time of such Canadian Revolving Lender’s Canadian Revolving Pro Rata
Percentage of the Canadian L/C Exposure plus such Canadian Revolving Lender’s Canadian Revolving
Pro Rata Percentage of the outstanding amount of all Canadian Swing Line Loans.

     “Canadian Revolving Credit Facility” shall mean at any time the aggregate amount of the
Canadian Revolving Commitments of the Canadian Revolving Lenders at such time.

     “Canadian Revolving Credit Loans” shall mean (a) the Canadian dollar-denominated Revolving
Credit Loans (including the aggregate face amount of outstanding B/As) made by the Canadian
Revolving Lenders to the Canadian Borrowers hereunder and (b) the U.S. dollar-denominated Revolving
Credit Loans made by the Canadian Revolving Lenders to the Canadian Borrowers. Each Canadian
Revolving Credit Loan denominated in Canadian dollars shall be a

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Canadian Prime Rate Loan or a B/A Loan. Each Canadian Revolving Credit Loan denominated in
U.S. dollars and made to a Canadian Borrower shall be a Eurocurrency Loan or a U.S. Base Rate Loan.

     “Canadian Revolving Lender” shall mean any Canadian Lender that has a Canadian Revolving
Commitment or holds a Canadian Revolving Credit Loan or a participation in a Canadian Letter of
Credit or a Canadian Swing Line Loan.

     “Canadian Revolving Pro Rata Percentage” of any Canadian Revolving Lender, subject to any
adjustment as provided in Section 2.24(c), shall mean the percentage of the aggregate Canadian
Revolving Commitments represented by such Canadian Revolving Lender’s Canadian Revolving
Commitment; provided that if the Canadian Revolving Commitments have terminated, the Canadian
Revolving Pro Rata Percentages of the Canadian Revolving Lenders shall be determined based upon the
Canadian Revolving Commitments most recently in effect, giving effect to any assignments.

     “Canadian Secured Parties” shall have the meaning assigned to such term in the Canadian
Security Agreement.

     “Canadian Security Agreement” shall mean the Canadian Security Agreement, substantially in the
form of Exhibit F-2, among the Canadian Borrowers and the Canadian Subsidiary Guarantors, as
grantors, and the Canadian Collateral Agent for the benefit of the Canadian Secured Parties.

     “Canadian Security Documents” shall mean the Canadian Security Agreement, the Canadian Pledge
Agreement, Australian Security Agreements, and each other Security Document to which any Canadian
Borrower, any Canadian Subsidiary Guarantor or any Subsidiary of a Canadian Borrower is a party and
that purports to grant a Lien in the assets of any such person in favor of the Canadian Collateral
Agent for the benefit of the Canadian Secured Parties.

     “Canadian Subsidiaries” shall mean the Subsidiaries (other than the Canadian Parent) organized
under the laws of Canada or any Province, territory or other political subdivision thereof.

     “Canadian Subsidiary Guarantee Agreement” shall mean the Canadian Subsidiary Guarantee
Agreement, substantially in the form of Exhibit G-2, in favor of the Canadian Collateral Agent for
the benefit of the Canadian Secured Parties.

     “Canadian Subsidiary Guarantor” shall mean each Canadian Subsidiary (other than a Canadian
Borrower) listed on Schedule 1.01(c), and each other Canadian Subsidiary that is or becomes a party
to the Canadian Subsidiary Guarantee Agreement.

     “Canadian Swing Line Borrowing” shall mean a borrowing of a Canadian Swing Line Loan pursuant
to Section 2.23(a)(ii) or, if an AutoBorrow Agreement is in effect, any transfer of funds
pursuant to such AutoBorrow Agreement.

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     “Canadian Swing Line Lender” shall mean Royal Bank of Canada in its capacity as provider of
Canadian Swing Line Loans, or any successor swing line lender hereunder.

     “Canadian Swing Line Loan” has the meaning assigned to such term in Section 2.23(a)(ii).

     “Canadian Swing Line Sublimit” shall mean $15,000,000. The Canadian Swing Line Sublimit is
part of, and not in addition to, the Canadian Revolving Commitments.

     “Canadian Term Borrowing” shall mean a group of Canadian Term Loans of a single Type made,
converted or continued by the Canadian Term Lenders on a single date, and in the case of a
Eurocurrency Borrowing, as to which a single Interest Period is in effect.

     “Canadian Term Commitment” shall mean, with respect to each Canadian Term Lender, the
commitment of such Canadian Term Lender to make a single Canadian Term Loan to PTI Premium on the
Effective Date in an aggregate principal amount not to exceed the U.S. dollar amount set forth
opposite such Lender’s name on Schedule 2.01. The aggregate amount of the Canadian Term
Commitments as of the Effective Date is $100,000,000.

     “Canadian Term Lender” shall mean any Canadian Lender that has a Canadian Term Commitment or
holds a Canadian Term Loan.

     “Canadian Term Loan” shall mean the Canadian dollar and U.S. dollar-denominated term loans
made by the Canadian Term Lenders to PTI Premium. Each Canadian Term Loan denominated in Canadian
dollars shall be a Canadian Prime Rate Loan or a B/A Loan. Each Canadian Term Loan denominated in
U.S. dollars shall be a Eurocurrency Loan or a U.S. Base Rate Loan.

     “Canadian Term Loan Facility” shall mean (a) at any time on or prior to the Effective Date,
the aggregate amount of the Canadian Term Commitments at such time and (b) at any time after the
Effective Date, the aggregate principal amount of the Canadian Term Loans of all Canadian Term
Lenders outstanding at such time.

     “Canadian Term Loan Pro Rata Percentage” with respect to any Canadian Term Lender, (a) prior
to the termination of the Canadian Term Commitments, the percentage of the aggregate Canadian Term
Commitments represented by such Canadian Lender’s Canadian Term Commitment at such time and (b)
following the termination of the Canadian Term Commitments, the percentage of the aggregate
principal amount of the Canadian Term Loans represented by such Canadian Lender’s Canadian Term
Loans at such time.

     “Capital Lease Obligations” of any person shall mean the obligations of such person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP;
provided that any lease that was treated as an operating lease under GAAP at the time it was
entered into that later becomes a capital lease as a result of a change in GAAP during

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the life of such lease, including any renewals, shall be treated as an operating lease for all
purposes under this Agreement.

     “Cash Collateralize” shall mean to pledge and deposit with or deliver to the Applicable
Collateral Agent, for the benefit of the U.S. Secured Parties or the Canadian Secured Parties, as
applicable, as collateral for the U.S. L/C Exposure or the Canadian L/C Exposure, as applicable,
cash or deposit account balances pursuant to documentation in form and substance reasonably
satisfactory to the Applicable Borrower, the Applicable Collateral Agent and the Applicable Issuing
Banks (which documentation is hereby consented to by the Lenders). Derivatives of such term have
corresponding meanings.

     “CDOR Rate” shall mean, for each day in any period, the annual rate of interest that is the
rate based on an average rate applicable to Canadian dollar bankers’ acceptances for a term equal
to the term of the relevant Contract Period (or for a term of one month for purposes of determining
the Canadian Prime Rate) appearing on the Reuters Screen CDOR Page at approximately 10:00 a.m.
(Standard Time), on such date, or if such date is not a Business Day, on the immediately preceding
Business Day; provided that if such rate does not appear on the Reuters Screen CDOR Page on such
date as contemplated, then the CDOR Rate on such date shall be the Discount Rate quoted by the
Canadian Administrative Agent (determined as of 10:00 a.m. (Standard Time) on such date) that would
be applicable to Canadian dollar bankers’ acceptances in a comparable amount and with comparable
maturity dates to the Bankers’ Acceptances requested by the applicable Canadian Borrower on such
date or, if such date is not a Business Day, on the immediately preceding Business Day.

     “Change in Control” shall mean (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof) of Equity
Interests representing more than 35% of the aggregate ordinary voting power represented by the
issued and outstanding Equity Interests of the U.S. Borrower; (b) occupation of a majority of the
seats (other than vacant seats) on the board of directors of the U.S. Borrower by persons who were
neither (i) nominated by the board of directors of the U.S. Borrower nor (ii) appointed by the
directors so nominated or (c) the failure, without giving effect to the Exchangeable Shares, by the
U.S. Borrower to own, directly or indirectly, beneficially and of record, 100% of the issued and
outstanding Equity Interests of the Canadian Parent.

     “Change in Law” shall mean (a) the adoption of any law, rule or regulation after the date of
this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or an Issuing Bank (or, for purposes of Section 2.13, by any lending
office of such Lender or by such Lender’s or such Issuing Bank’s holding company, if any) with any
request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement; provided however, for purposes of this
Agreement and to the extent permitted by applicable laws, the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, guidelines or directives in connection therewith are
deemed to have gone into effect and adopted after the date of this Agreement.

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     “Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such Loan, or
the Loans comprising such Borrowing, are Canadian Revolving Credit Loans, Canadian Term Loans, U.S.
Revolving Credit Loans or U.S. Term Loans, and (b) any Commitment, refers to whether such
Commitment is a Canadian Revolving Commitment, Canadian Term Commitment, a U.S. Revolving
Commitment or U.S. Term Commitment.

     “Co-Lead Arrangers” shall mean Wells Fargo Securities, LLC, RBC Capital Markets and J. P.
Morgan Securities LLC, in such capacity.

     “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

     “Collateral” shall mean, collectively, all of the U.S. Collateral and the Canadian Collateral.

     “Collateral Agents” shall mean, collectively, the U.S. Collateral Agent and the Canadian
Collateral Agent.

     “Commitment” shall mean, with respect to any Lender, such Lender’s U.S. Revolving Commitment,
U.S. Term Commitment, Canadian Revolving Commitment or Canadian Term Commitment, and “Commitments”
shall mean the U.S. Commitments and the Canadian Commitments.

     “Commitment Fees” shall have the meaning assigned to such term in Section 2.05(a).

     “Compliance Certificate” shall have the meaning assigned to such term in Section 5.04(c).

     “Confidential Information Memorandum” shall mean the Confidential Information Memorandum of
the U.S. Borrower dated October 2010.

     “Consolidated EBITDA” shall mean, for any period, EBITDA of the U.S. Borrower and the
subsidiaries for such period, all determined on a consolidated basis.

     “Consolidated Interest Expense” shall mean, for any person for any period, the sum of (a) the
interest expense (including imputed interest expense in respect of Capital Lease Obligations but
excluding the amortization of debt discount and debt issuance costs) of such person for such
period, determined on a consolidated basis in accordance with GAAP, plus (b) any interest accrued
during such period in respect of Indebtedness of such person that is required to be capitalized
rather than included in consolidated interest expense for such period in accordance with GAAP. For
purposes of the foregoing, interest expense shall be determined after giving effect to any net
payments made or received by such person with respect to interest rate Hedging Agreements.

     “Consolidated Net Income” shall mean, for any person for any period, the net income or loss of
such person for such period determined on a consolidated basis in accordance with GAAP; provided
that there shall be excluded (a) the income of any subsidiary of such person to the extent that the
declaration or payment of dividends or similar distributions by such subsidiary of that income is
not at the time permitted by operation of the terms of its charter or any

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agreement, instrument, judgment, decree, statute, rule or governmental regulation applicable
to such subsidiary, (b) the income of any person in which any other person (other than such person
or a wholly owned subsidiary thereof or any director holding qualifying shares in accordance with
applicable law) has a joint interest, except to the extent of the amount of dividends or other
distributions actually paid to such person or a wholly owned subsidiary thereof by such person
during such period, and (c) any gains or losses attributable to sales of assets out of the ordinary
course of business.

     “Consolidated Net Worth” shall mean, at any time, the net worth or total shareholders’ equity
of the U.S. Borrower and the subsidiaries on a consolidated basis determined in accordance with
GAAP.

     “Contract Period” shall mean the term of a B/A Loan selected by a Canadian Borrower in
accordance with Section 2.22, commencing on the date of such B/A Loan and expiring on a Business
Day which shall be either 30 days, 60 days, 90 days or 180 days thereafter, provided that (a)
subject to clause (b) below, each such period shall be subject to such extensions or reductions as
may be reasonably determined by the Canadian Administrative Agent to ensure that each Contract
Period shall expire on a Business Day, and (b) no Contract Period shall extend beyond the Maturity
Date.

     “Control” shall mean the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of a person, whether through the ownership of voting
securities, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have
meanings correlative thereto.

     “Credit Event” shall have the meaning assigned to such term in Section 4.01.

     “Default” shall mean any event or condition which upon notice, lapse of time or both would
constitute an Event of Default.

     “Defaulting Lender” shall mean, subject to Section 2.24(d), any Lender that, as determined in
good faith by the Applicable Administrative Agent, an Applicable Issuing Bank or a Swing Line
Lender:

     (a) has failed to perform any of its funding obligations hereunder, including in respect of
its Loans, participations in respect of Letters of Credit or participations in Swing Line Loans,
within three (3) Business Days of the date required to be funded by it hereunder;

     (b) has notified the U.S. Borrower, an Administrative Agent, any Issuing Bank, a Swing Line
Lender or any Lender that it does not intend to comply with its funding obligations or has made a
public statement to that effect with respect to its respective funding obligations hereunder or
under other agreements generally;

     (c) has failed, within three (3) Business Days after request by an Administrative Agent, an
Issuing Bank or a Swing Line Lender, to confirm in a manner satisfactory to such Administrative
Agent, such Issuing Bank or such Swing Line Lender, as applicable, that it will comply with its
funding obligations; or

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     (d) has, or has a direct or indirect parent company that has, (i) become the subject of a
proceeding under any Insolvency Law, (ii) had a receiver, conservator, trustee, administrator,
assignee for the benefit of creditors or similar person charged with reorganization or liquidation
of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or
indicated its consent to, approval of or acquiescence in any such proceeding or appointment;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or
acquisition of any equity interest in that Lender or any direct or indirect parent company thereof
by a Governmental Authority.

     “Discount Proceeds” shall mean the net cash proceeds to the applicable Canadian Borrower from
the sale of a Bankers’ Acceptance pursuant hereto or, in the case of B/A Equivalent Loans, the
amount of a B/A Equivalent Loan at the B/A Discount Rate, in any case, before deduction or payment
of the fees to be paid to the Canadian Lenders under Section 2.06.

     “Discount Rate” shall mean, with respect to the issuance of a Bankers’ Acceptance, the rate of
interest per annum, calculated on the basis of a year of 365 days, (rounded upwards, if necessary,
to the nearest whole multiple of 1/100th of one percent) which is equal to the discount exacted by
a purchaser taking initial delivery of such Bankers’ Acceptance, calculated as a rate per annum and
as if the issuer thereof received the discount proceeds in respect of such Bankers’ Acceptance on
its date of issuance and had repaid the respective face amount of such Bankers’ Acceptance on the
maturity date thereof.

     “dollars”, “U.S. dollars”, “U.S.$” or “$” shall mean lawful money of the United States of
America.

     “Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the laws
of the United States of America, any State thereof or the District of Columbia.

     “EBITDA” shall mean, for any person for any period, Consolidated Net Income of such person for
such period plus (a) without duplication and to the extent deducted in determining such
Consolidated Net Income, the sum of (i) Consolidated Interest Expense for such period, (ii)
consolidated income tax expense for such period, (iii) all amounts attributable to depreciation and
amortization for such period, (iv) any noncash charges or extraordinary losses for such period and
(v) transaction costs associated with the Transactions in an aggregate amount not to exceed
$30,000,000 plus such additional amounts as a result of currency exchange fluctuations in an amount
reasonably acceptable to the Administrative Agent, and minus (b) without duplication (i) all cash
payments made during such period on account of reserves, restructuring charges and other noncash
charges added to Consolidated Net Income pursuant to clause (a)(iv) above in a previous period and
(ii) to the extent included in determining such Consolidated Net Income, any extraordinary gains
and all noncash items of income for such period, all determined for such person on a consolidated
basis in accordance with GAAP.

     “Effective Date” shall mean the date upon which all of the conditions set forth in Sections
4.01 and 4.02 are satisfied or waived in accordance with Section 9.08(b), which date shall not be
later than March 31, 2011.

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     “Eligible Assignee” shall mean (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved
Fund, and (d) any other person (other than a natural person).

     “Environmental Laws” shall mean all former, current and future federal, state, provincial,
local and foreign laws (including common law), treaties, regulations, rules, ordinances, codes,
decrees, judgments, directives, orders (including consent orders), and agreements in each case,
relating to protection of the environment, natural resources, human health and safety or the
presence, Release of, or exposure to, Hazardous Materials, or the generation, manufacture,
processing, distribution, use, treatment, storage, transport, recycling or handling of, or the
arrangement for such activities with respect to, Hazardous Materials.

     “Environmental Liability” shall mean all liabilities, obligations, damages, losses, claims,
actions, suits, judgments, orders, fines, penalties, fees, expenses and costs (including
administrative oversight costs, natural resource damages and remediation costs), whether contingent
or otherwise, arising out of or relating to (a) compliance or noncompliance with any Environmental
Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any
Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release of any Hazardous
Materials or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing.

     “Equity Interests” shall mean shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity interests
in any person, or any obligations convertible into or exchangeable for, or giving any person a
right, option or warrant to acquire such equity interests or such convertible or exchangeable
obligations.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be
amended from time to time.

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

     “ERISA Event” shall mean (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the failure of any Plan to satisfy the Pension Funding Rules; (c) the
filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a
waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by a Borrower
or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the
termination of any Plan or the withdrawal or partial withdrawal of a Borrower or any of its ERISA
Affiliates from any Plan or Multiemployer Plan; (e) the receipt by a Borrower or any of its ERISA
Affiliates from the PBGC or a plan administrator of any notice relating to the intention to
terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the receipt by a
Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan
from a Borrower or any of its ERISA Affiliates of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan

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is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of
ERISA; (g) the occurrence of a “prohibited transaction” with respect to which a Borrower or any of
the Subsidiaries is a “disqualified person” (within the meaning of Section 4975 of the Code) or
with respect to which a Borrower or any such Subsidiary could otherwise be liable; or (h) any other
event or condition with respect to a Plan or Multiemployer Plan that could result in liability of a
Borrower or any Subsidiary.

     “Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the Adjusted LIBO Rate.

     “Event of Default” shall have the meaning assigned to such term in Article VII.

     “Exchange Rate” shall mean, on any day, (a) with respect to the Canadian Revolving Credit
Facility and the Canadian Term Loan Facility only, for purposes of determining the U.S. Dollar
Equivalent of Canadian dollars and the Canadian Dollar Equivalent, the Bank of Canada spot rate of
exchange at which Canadian dollars may be exchanged into U.S. Dollars or at which U.S. Dollars may
be exchanged into Canadian dollars, respectively at approximately 12:00 p.m. (Standard Time) on
such day and (b) (i) for purposes of determining the U.S. Dollar Equivalent, the rate at which
Canadian dollars or the applicable Alternative Currency may be exchanged into U.S. dollars and (ii)
for purposes of determining the Canadian Dollar Equivalent, the rate at which U.S. dollars may be
exchanged into Canadian dollars, in each case as set forth at approximately 12:00 p.m. (Standard
Time) on such day on the applicable Bloomberg Currency Page. In the event that such rate does not
appear on such Bloomberg Currency Page, the Exchange Rate shall be determined by reference to such
other publicly available service for displaying exchange rates as may be agreed upon by the
Administrative Agent and the U.S. Borrower, or, in the absence of such agreement, such Exchange
Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative
Agent in the market where its foreign currency exchange operations in respect of Canadian dollars
or U.S. dollars, as applicable, are then being conducted, at or about 12:00 p.m. (Standard Time) on
such day for the purchase of U.S. dollars or Canadian dollars or Alternative Currencies, as the
case may be, for delivery two Business Days later; provided that if at the time of any such
determination, for any reason, no such spot rate is being quoted, the Administrative Agent may use
any method it deems commercially reasonable and appropriate to determine such rate, and such
determination shall be presumed correct absent manifest error.

     “Exchangeable Shares” shall mean the non-voting Exchangeable Shares in the capital of PTI
Holdco, issued to certain current or former shareholders of the Canadian Parent outstanding as of
the Effective Date.

     “Excluded Taxes” shall mean, with respect to either Administrative Agent, any Lender, any
Issuing Bank, either Swing Line Lender or any other recipient of any payment to be made by or on
account of any obligation of any Borrower hereunder, (a) taxes imposed on (or measured by) its
overall net income (however denominated) and franchise taxes imposed on it (in lieu of net income
taxes), by the jurisdiction (or any political subdivision) under the laws of which such recipient
is organized or in which its principal office is located or, in the case of any Lender or Swing
Line Lender, in which its applicable lending office is located, (b) any branch profits taxes

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imposed by the United States of America or any similar tax imposed by any other jurisdiction
in which a Borrower is located, (c) in the case of a Foreign Lender (other than an assignee
pursuant to a request by a Borrower under Section 2.20(a)), any withholding tax that is imposed on
amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this
Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure
or inability (other than as a result of a Change in Law) to comply with Section 2.19(e), except to
the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of
designation of a new lending office (or assignment), to receive additional amounts from the
Applicable Borrower with respect to such withholding tax pursuant to Section 2.19(a) and (d) any
withholding taxes imposed because of FATCA (other than as a result of a Change in Law).

     “Existing Credit Agreement” shall have the meaning assigned to such term in the pre-amble.

     “Existing MAC Group Credit Agreement” shall mean the Amendment and Restatement Deed No. 2 —
Loan Agreement dated as of October 15, 2010 among MAC Group, The MAC Linen Services Pty Ltd, MSL
Nominees Pty Ltd and NAB.

     “Facility” shall mean the U.S. Revolving Credit Facility, the U.S. Term Loan Facility, the
Canadian Revolving Credit Facility or the Canadian Term Loan Facility, in each case as the context
may require.

     “FATCA” shall mean Sections 1471 through 1474 of the Code as of the date hereof and any
regulations or official interpretations thereof.

     “FCPA” means the United States Foreign Corrupt Practices Act of 1977.

     “Federal Funds Effective Rate” shall mean, for any day, the weighted average (rounded upwards,
if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day that is a Business Day, the rate (rounded upwards, if necessary, to the next
1/100 of 1%) for such transactions as determined by the Administrative Agent.

     “Fee Letter” shall mean the letter agreement dated as of October 14, 2010 among the Borrowers,
the Wells Fargo Securities, LLC and the Administrative Agent.

     “Fees” shall mean, collectively, the Commitment Fees, the Administrative Agent Fees, the L/C
Participation Fees and the Issuing Bank Fees.

     “Financial Officer” of any person shall mean the chief financial officer, principal accounting
officer, treasurer or controller of such person.

     “Foreign Lender” shall mean, with respect to a Borrower, any Lender that is organized under
the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.
For purposes of this definition, the United States of America, each State thereof and

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the District of Columbia shall be deemed to constitute a single jurisdiction and Canada and
each Province thereof shall be deemed to constitute a single jurisdiction.

     “Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary.

     “Fronting Exposure” shall mean, at any time there is a Defaulting Lender, with respect to an
Issuing Bank, (a) such Defaulting Lender’s U.S. Revolving Pro Rata Percentage or Canadian Revolving
Pro Rata Percentage, as applicable (determined, for the avoidance of doubt, without giving effect
to any adjustment provided for in Section 2.24(c)) of the outstanding U.S. L/C Exposure or Canadian
L/C Exposure, as applicable, less (b) any portion of the amount calculated under clause (a) above
the risk participation with respect to which has been reallocated to other Applicable Lenders or
Cash Collateralized in accordance with the terms hereof.

     “Fund” shall mean any person (other than a natural person) that is (or will be) engaged in
making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its business.

     “GAAP” shall mean United States generally accepted accounting principles applied on a
consistent basis.

     “Governmental Authority” shall mean the government of the United States or any other nation,
or of any political subdivision thereof, whether state, provincial or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the
European Central Bank).

     “Granting Lender” shall have the meaning assigned to such term in Section 9.04(g).

     “Guarantee” of or by any person shall mean (a) any obligation, contingent or otherwise, of
such person guaranteeing or having the economic effect of guaranteeing any Indebtedness of any
other person (the “primary obligor”) in any manner, whether directly or indirectly, and including
any obligation of such person, direct or indirect, (i) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness or to purchase (or to advance or supply
funds for the purchase of) any security for the payment of such Indebtedness, (ii) to purchase or
lease property, securities or services for the purpose of assuring the owner of such Indebtedness
of the payment of such Indebtedness or, (iii) to maintain working capital, equity capital or any
other financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness, contingent or otherwise, of any holder of such Indebtedness to
obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the
stated or determinable amount of the related primary obligation, or portion thereof, in respect of
which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by the guaranteeing person in good faith. The term
“Guarantee” as a verb has a corresponding meaning; provided, however, that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of
business.

-19-

 

     “Guarantee Agreements” shall mean, collectively, the U.S. Subsidiary Guarantee Agreement, the
Canadian Subsidiary Guarantee Agreement, the U.S. Borrower Guarantee Agreement, the PTI Holdco Sub
Guarantee Agreement and the Australian Guarantee Agreement.

     “Guarantors” shall mean, collectively, the U.S. Borrower, the Subsidiary Guarantors and PTI
Holdco Sub.

     “Hazardous Materials” shall mean (a) any petroleum products or byproducts and all other
hydrocarbons, coal ash, radon gas, asbestos, urea formaldehyde foam insulation, polychlorinated
biphenyls, chlorofluorocarbons and all other ozone-depleting substances and (b) any chemical,
material, substance or waste that is prohibited, limited or regulated by or pursuant to any
Environmental Law.

     “Hedging Agreement” shall mean any interest rate protection agreement, foreign currency
exchange agreement, commodity price protection agreement or other interest or currency exchange
rate or commodity price hedging arrangement.

     “Implementation Date” shall have the meaning assigned to it in the MAC Merger Agreement.

     “Indebtedness” of any person shall mean, without duplication, (a) all obligations of such
person for borrowed money, (b) all obligations of such person evidenced by bonds, debentures, notes
or similar instruments, (c) all obligations of such person upon which interest charges are
customarily paid (excluding trade accounts payable and accrued obligations incurred in the ordinary
course of business), (d) all obligations of such person under conditional sale or other title
retention agreements relating to property or assets purchased by such person, (e) all obligations
of such person issued or assumed as the deferred purchase price of property or services (excluding
trade accounts payable and accrued obligations incurred in the ordinary course of business), (f)
all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such
person, whether or not the obligations secured thereby have been assumed (provided that, for
purposes hereof, the amount thereof shall be limited to the lesser of (i) the amount of such
Indebtedness and (ii) the fair market value of such property), (g) all Guarantees by such person of
Indebtedness of others, (h) all Capital Lease Obligations of such person, (i) all obligations of
such person as an account party in respect of letters of credit and (j) all obligations of such
person in respect of bankers’ acceptances. The Indebtedness of any person shall include the
Indebtedness of any partnership in which such person is a general partner, except to the extent
that, by its terms, such Indebtedness is nonrecourse to such person.

     “Indemnified Taxes” shall mean Taxes other than Excluded Taxes.

     “Insolvency Law” shall mean, to the extent applicable, (a) Title 11 of the United States Code,
(b) the Bankruptcy and Insolvency Act (Canada), (c) the Companies’ Creditors Arrangement Act
(Canada) and (d) any similar federal, provincial, state, local or foreign bankruptcy or insolvency
law applicable to the U.S. Borrower or any of its Subsidiaries, in each case as now constituted or
hereafter amended or enacted.

-20-

 

     “Interest Coverage Ratio” for any period shall mean the ratio of (a) Consolidated EBITDA for
such period to (b) Consolidated Interest Expense for the U.S. Borrower and the subsidiaries for
such period. Solely for purposes of this definition, if, at any time the Interest Coverage Ratio
is being determined, the U.S. Borrower or any subsidiary shall have completed a Permitted
Acquisition or Asset Sale the consideration of which is greater than $25,000,000 since the
beginning of the relevant four fiscal quarter period, the Interest Coverage Ratio shall be
determined on a pro forma basis (using the criteria therefor described in Section 6.04(i)) as if
such Permitted Acquisition or Asset Sale and any related incurrence or repayment of Indebtedness,
had occurred at the beginning of such period.

     “Interest Payment Date” shall mean (a) with respect to any ABR Loan, Canadian Prime Rate Loan,
U.S. Base Rate Loan or Swing Line Loan, the last Business Day of each March, June, September and
December, and the earlier of the Maturity Date and the date on which the applicable Commitment
shall expire or be terminated as provided herein, and (b) with respect to any Eurocurrency Loan,
the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and
the earlier of the Maturity Date and the date on which the applicable Commitment shall expire or be
terminated as provided herein, and in the case of a Eurocurrency Borrowing with an Interest Period
of more than three months’ duration, each day that would have been an Interest Payment Date had
successive Interest Periods of three months’ duration been applicable to such Borrowing.

     “Interest Period” shall mean, with respect to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day (or, if
there is no numerically corresponding day, on the last day) in the calendar month that is 1, 3 or 6
months thereafter, as a Borrower may elect; provided, however, that if any Interest Period would
end on a day other than a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless such next succeeding Business Day would fall in the next calendar
month, in which case such Interest Period shall end on the next preceding Business Day. Interest
shall accrue from and including the first day of an Interest Period to but excluding the last day
of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date
on which such Borrowing is made and thereafter shall be the effective date of the most recent
conversion or continuation of such Borrowing.

     “Issuing Bank” shall mean, as the context may require, (a) Wells Fargo, with respect to
Letters of Credit issued by it, (b) JPMorgan Chase Bank, N.A., with respect to Letters of Credit
issued by it, (c) RBC, with respect to Letters of Credit issued by it, (d) The Toronto-Dominion
Bank, with respect to Letters of Credit issued by it, (e) The Bank of Nova Scotia, with respect to
Letters of Credit issued by it, (f) Capital One, N.A., with respect to Letters of Credit issued by
it, (g) with respect to each Rolled Letter of Credit, the Lender that issued such Rolled Letter of
Credit, (h) any other Lender that may become an Issuing Bank pursuant to Section 2.21(j) or (l)
with respect to Letters of Credit issued by such Lender, or (i) collectively, all the foregoing.
Any Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by
Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate.

     “Issuing Bank Fees” shall have the meaning assigned to such term in Section 2.05(c).

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     “ITA” shall mean the Income Tax Act (Canada), as amended, and any successor thereto, and any
regulations promulgated thereunder.

     “L/C Commitment” shall mean the commitment of each Issuing Bank to issue Letters of Credit
pursuant to Section 2.21.

     “L/C Disbursement” shall mean a payment or disbursement made by an Issuing Bank pursuant to a
Letter of Credit.

     “L/C Participation Fee” shall have the meaning assigned to such term in Section 2.05(c).

     “Lenders” shall mean (a) the persons listed on Schedule 2.01 (other than any such person that
has ceased to be a party hereto pursuant to an Assignment and Acceptance or pursuant to Section
2.24), (b) any person that has become a party hereto pursuant to an Assignment and Acceptance and
(c) the Swing Line Lenders.

     “Letter of Credit” shall mean any letter of credit issued (or, in the case of a Rolled Letter
of Credit, deemed issued) pursuant to Section 2.21. A Letter of Credit shall be a “U.S. Letter of
Credit” if issued for the account of the U.S. Borrower in U.S. dollars or an Alternative Currency,
and a “Canadian Letter of Credit” if issued for the account of a Canadian Borrower in Canadian
dollars.

     “Letter of Credit Application” shall mean an application and agreement for the issuance,
amendment or extension of a Letter of Credit in the form from time to time in use by an Issuing
Bank.

     “Letter of Credit Documents” shall mean, with respect to any Letter of Credit, such Letter of
Credit, the related Letter of Credit Application and any agreements, documents, and instruments
entered into in connection with or relating to such Letter of Credit.

     “Leverage Ratio” shall mean, on any date, the ratio of Total Debt on such date to Consolidated
EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such
date for which financial statements have been delivered pursuant to Section 5.04(a) or (b). Solely
for purposes of this definition, if, at any time the Leverage Ratio is being determined, the U.S.
Borrower or any subsidiary shall have completed a Permitted Acquisition or Asset Sale the
consideration of which is greater than $25,000,000 since the beginning of the relevant four fiscal
quarter period, the Leverage Ratio shall be determined on a pro forma basis (using the criteria
therefor described in Section 6.04(i)) as if such Permitted Acquisition or Asset Sale, and any
related incurrence or repayment of Indebtedness, had occurred at the beginning of such period.

     “LIBO Rate” shall mean, with respect to any Eurocurrency Borrowing for any Interest Period,
the interest rate per annum (rounded upward to the nearest whole multiple of 1/100 of 1%) equal to
(a) the applicable British Bankers Association Interest Settlement Rate for deposits in U.S.
dollars (for delivery on the first day of such Interest Period) appearing on the Reuters “LIBOR01”
screen (or on any successor or substitute screen provided by Reuters, or any successor to or
substitute for such service, providing rate quotations comparable to those currently provided on
such screen, as determined by the Administrative Agent from time to time

-22-

 

for purposes of providing quotations of interest rates applicable to deposits in Dollars in
the London interbank market) as of 11:00 a.m. (London, England time) two Business Days prior to the
first day of such Interest Period, and having a maturity equal to such Interest Period, and (b) if
the rate as determined under clause (a) is not available at such time for any reason, then the
applicable LIBO Rate with respect to any Eurocurrency Borrowing for the relevant Interest Period
shall instead be the rate determined by the Administrative Agent to be the rate at which the
Administrative Agent or one of its affiliate banks offers to place deposits in Dollars for delivery
on the first day of such Interest Period with first class banks in the London interbank market at
approximately 11:00 a.m. (London, England time) two Business Days prior to the commencement of such
Interest Period of comparable term and amount and having a maturity equal to such Interest Period.

     “Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
encumbrance, charge, hypothec or security interest in or on such asset and (b) the interest of a
vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement
(or any financing lease having substantially the same economic effect as any of the foregoing)
relating to such asset.

     “Liquidity” shall mean, as of any date of determination, (a) the amount that the Borrowers are
entitled to borrow as Canadian Revolving Credit Loans or U.S. Revolving Credit Loans hereunder
(after giving effect to the outstanding principal amount of Canadian Revolving Credit Loans, U.S.
Revolving Credit Loans, Swing Line Loans and the Aggregate L/C Exposure) plus (b) the amount of
unrestricted cash (determined in accordance with GAAP) and Permitted Investments of the U.S.
Borrower and its subsidiaries other than the MAC Group and its subsidiaries.

     “Loan Documents” shall mean, collectively, this Agreement, any Notes, if any, issued pursuant
to Section 2.04(h), the Guarantee Agreements, the Security Documents, the Letter of Credit
Documents, the Fee Letter and each other certificate, agreement, instrument or other document
executed and delivered, in each case, by or on behalf of any Loan Party pursuant to the foregoing;
provided, however, that for purposes of Section 9.08, “Loan Documents” shall mean this Agreement,
the Guarantee Agreements and the Security Documents.

     “Loan Parties” shall mean the Borrowers and the Guarantors.

     “Loans” shall mean, collectively, the U.S. Loans, the Canadian Loans and the Swing Line Loans.

     “MAC Group” shall mean The MAC Services Group Limited, a company organized under the laws of
the Commonwealth of Australia.

     “MAC Merger” shall mean the acquisition by the U.S. Borrower (through a wholly owned indirect
Subsidiary) of all outstanding Equity Interests of MAC Group, including the mergers contemplated by
the MAC Merger Agreement in connection therewith.

     “MAC Merger Agreement” shall mean the Scheme Implementation Deed dated as of October 15, 2010
between MAC Group and the U.S. Borrower, as such agreement is in effect on the date hereof.

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     “MAC Merger Instruments” shall mean, collectively, (a) the MAC Merger Agreement, (b) the
Scheme of Arrangement dated as of October 15, 2010 between MAC Group and each person registered as
a holder of fully paid ordinary shares in MAC Group in the MSL Share Register as at the Record Date
(other than the Excluded Shareholders) (each such capitalized term as defined therein), (c) the
Deed Poll dated as of October 15, 2010 by the U.S. Borrower and MAC Group in favor of each person
registered as a holder of fully paid ordinary shares in MAC Group in the MSL Share Register as at
the Record Date (other than the Excluded Shareholders) and (d) all schedules, certificates and
exhibits relating thereto and ancillary agreements executed and delivered by MAC Group and other
parties named in the MAC Merger Agreement, the Loan Parties in connection with the MAC Merger
Agreement and the MAC Merger.

     “MAC Trust Account” shall mean the Australian dollar denominated trust account operated by MAC
Group to hold monies on trust for the purpose of paying the Scheme Consideration to the Scheme
Shareholders (as defined in the MAC Merger Agreement).

     “Margin Stock” shall have the meaning assigned to such term in Regulation U.

     “Material Adverse Effect” shall mean (a) a materially adverse effect on the business, assets,
operations or condition (financial or otherwise) of the U.S. Borrower and its subsidiaries
(including, after the Implementation Date, MAC Group and its subsidiaries), taken as a whole, (b)
material impairment of the ability of any Borrower or any other Loan Party to perform any of its
obligations under any Loan Document to which it is or will be a party or (c) material impairment of
the rights of or benefits available to the Lenders and the Agents under any Loan Document.

     “Material Indebtedness” shall mean Indebtedness (other than the Loans and Letters of Credit),
or obligations in respect of one or more Hedging Agreements, of any one or more of the Borrowers
and the Subsidiaries in an aggregate principal amount exceeding U.S.$25,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of a Borrower or any
Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that such Borrower or Subsidiary would be required to pay
if such Hedging Agreement were terminated at such time.

     “Material Subsidiary” shall mean any Subsidiary of the U.S. Borrower that, as of the most
recent date for which financial statements required to be delivered pursuant to Sections 5.04(a) or
(b) are available, has either (a) net tangible assets (excluding assets that are eliminated in the
calculation of consolidated net tangible assets of the U.S. Borrower and its subsidiaries) that
constitute more than 5% of the consolidated net tangible assets of the U.S. Borrower and its
subsidiaries or (b) EBITDA greater than 5% of Consolidated EBITDA; provided that if (i) the
combined net tangible assets of the Subsidiaries that are not considered to be Material
Subsidiaries (referred to herein as the “Immaterial Subsidiaries”) exceeds 15% of consolidated net
tangible assets of the U.S. Borrower and its subsidiaries, or (ii) the combined EBITDA of the
Immaterial Subsidiaries exceeds 15% of Consolidated EBITDA, then one or more of such Immaterial
Subsidiaries shall be deemed to be Material Subsidiaries in descending order based on the
respective percentage of consolidated net tangible assets or percentage of Consolidated EBITDA
until such excess shall have been eliminated; provided however that the MAC Group

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and its subsidiaries shall be disregarded for purposes of determining the “Material
Subsidiaries”. Each Material Subsidiary listed on Schedules 1.01(b) and 1.01(c) is a Guarantor as
of the Effective Date.

     “Maturity Date” shall mean December 10, 2015.

     “Moody’s” shall mean Moody’s Investors Service, Inc. and any successor thereto which is a
nationally recognized statistical rating organization.

     “Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

     “NAB” shall mean National Australia Bank Limited.

     “Obligations” shall mean all obligations defined as “Obligations” in the Subsidiary Guarantee
Agreements and the Security Documents.

     “OFAC” means the Office of Foreign Assets Control of the U.S. Department of the Treasury.

     “Other Taxes” shall mean any and all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made under any Loan
Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan
Document.

     “Participant” has the meaning assigned to such term in Section 9.04(d).

     “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA.

     “Pension Act” shall mean the Pension Protection Act of 2006.

     “Pension Funding Rules” shall mean the rules of the Code and ERISA regarding minimum required
contributions (including any installment payment thereof) to Plans and set forth in, with respect
to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and
Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430,
431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

     “Perfection Certificate” shall mean the Perfection Certificate substantially in the form of
Annex 1 to the Security Agreements.

     “Permitted Acquisition” shall have the meaning assigned to such term in Section 6.04(i).

     “Permitted Investments” shall mean:

     (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, United States of America, Canada, the United Kingdom,

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Australia or any other country that is a signatory to the Convention on the Organization for
Economic Co-operation and Development (or by any agency, state, province or territory thereof to
the extent such obligations are backed by the full faith and credit of such country or applicable
state, province or territory), in each case maturing within one year from the date of acquisition
thereof;

     (b) investments in commercial paper maturing within 270 days from the date of acquisition
thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P,
Moody’s, Canadian Bond Rating Service or Dominion Bond Rating Service Limited;

     (c) investments in certificates of deposit, banker’s acceptances and time deposits maturing
within one year from the date of acquisition thereof issued or guaranteed by or placed with, and
money market and other deposit accounts issued or offered by, any domestic office of any Lender or
any commercial bank organized under the laws of the United States of America, Canada, the United
Kingdom or Australia or any state, province of territory thereof, that has a combined capital and
surplus and undivided profits of not less than U.S.$500,000,000 (or, in the case of any bank that
is a Lender, U.S.$200,000,000);

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

     (e) other short-term investments utilized by Foreign Subsidiaries in accordance with normal
investment practices for cash management in investments of a type analogous to the foregoing.

     “person” shall mean any natural person, corporation, business trust, joint venture,
association, company, limited liability company, partnership, Governmental Authority or other
entity.

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

     “Platform” shall have the meaning assigned to such term in Section 5.04.

     “Pledge Agreements” shall mean, collectively, the U.S. Pledge Agreement and the Canadian
Pledge Agreement.

     “Potential Defaulting Lender” shall mean, at any time, a Lender that has, or whose parent
company has, a non-investment grade rating from Moody’s or S&P or another nationally recognized
rating agency. Any determination that a Lender is a Potential Defaulting Lender will be made by an
Administrative Agent in its sole discretion acting in good faith.

     “Prime Rate” shall mean the rate of interest per annum publicly announced from time to time by
Wells Fargo as its prime rate in effect at its principal office in San Francisco; each

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change in the Prime Rate shall be effective on the date such change is publicly announced as
being effective.

     “PTI Australia 1” shall mean PTI Holding Company 1 Pty Ltd ACN 146 700 441, a proprietary
company incorporated in Australia, and the direct owner of 100% of the Equity Interests of PTI
Australia 2.

     “PTI Australia 2” shall mean PTI Holding Company 2 Pty Ltd ACN 146 700 487, a proprietary
company incorporated in Australia, and the direct owner of 100% of the Equity Interests of the MAC
Group.

     “PTI Holdco” shall mean 892489 Alberta Inc., a corporation organized and existing under the
laws of the Province of Alberta.

     “PTI Holdco Sub” shall mean 892493 Alberta Inc., a corporation organized and existing under
the laws of the Province of Alberta, and the direct owner of 100% of the Equity Interests of the
Canadian Parent.

     “PTI Holdco Sub Guarantee Agreement” shall mean the PTI Holdco Sub Guarantee Agreement,
substantially in the form of Exhibit G-4, between PTI Holdco Sub and the Canadian Collateral Agent
for the benefit of the Canadian Secured Parties.

     “Public Lender” shall have the meaning assigned to such term in Section 5.04.

     “Refinancing Transactions” shall mean the refinancing of all obligations under the Existing
Credit Agreement.

     “Register” shall have the meaning assigned to such term in Section 9.04(c).

     “Regulation T” shall mean Regulation T of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

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

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

     “Related Parties” shall mean, with respect to any specified person, such person’s Affiliates
and the respective partners, directors, officers, employees, agents and advisors of such person and
such person’s Affiliates.

     “Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring,
deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or
within or upon any building, structure, facility or fixture.

     “Required Canadian Lenders” shall mean, at any time, Canadian Lenders having Canadian Loans, a
share of the Canadian L/C Exposure and unused Canadian Revolving

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Commitments representing at least a majority of the sum of all Canadian Loans outstanding, the
Canadian L/C Exposure and unused Canadian Revolving Commitments at such time. For purposes of
determining the Required Canadian Lenders at any time, the amount of any Canadian Loans denominated
in Canadian dollars and the Canadian L/C Exposure shall be the U.S. Dollar Equivalent thereof at
such time, as determined by the Administrative Agent using the then-applicable Exchange Rate.

     “Required Canadian Revolving Lenders“ shall mean, at any time, Canadian Revolving
Lenders having Canadian Revolving Credit Loans, a share of the Canadian L/C Exposure and unused
Canadian Revolving Commitments representing at least a majority of the sum of all Canadian
Revolving Credit Loans outstanding, the Canadian L/C Exposure and unused Canadian Revolving
Commitments at such time. For purposes of determining the Required Canadian Revolving Lenders at
any time, the amount of any Canadian Revolving Credit Loans denominated in Canadian dollars and the
Canadian L/C Exposure shall be the U.S. Dollar Equivalent thereof at such time, as determined by
the Administrative Agent using the then-applicable Exchange Rate.

     “Required Canadian Term Lenders” shall mean, at any time, Canadian Term Lenders having
Canadian Term Loans representing at least a majority of the sum of all Canadian Tern Loans
outstanding at such time. For purposes of determining the Required Canadian Term Lenders at any
time, the amount of any Canadian Term Loans denominated in Canadian dollars shall be the U.S.
Dollar Equivalent thereof at such time, as determined by the Administrative Agent using the
then-applicable Exchange Rate.

     “Required Lenders” shall mean, at any time, Lenders having Loans, a share of the Aggregate L/C
Exposure and unused Revolving Commitments representing at least a majority of the sum of all Loans
outstanding, the Aggregate L/C Exposure and unused Revolving Commitments at such time. For
purposes of determining the Required Lenders at any time, the amount of any Canadian Loans
denominated in Canadian dollars and Canadian L/C Exposure shall be the U.S. Dollar Equivalent
thereof at such time, as determined by the Administrative Agent using the then-applicable Exchange
Rate.

     “Required U.S. Lenders” shall mean, at any time, U.S. Lenders having U.S. Loans, a share of
the U.S. L/C Exposure and unused U.S. Revolving Commitments representing at least a majority of the
sum of all U.S. Loans outstanding, the U.S. L/C Exposure and unused U.S. Revolving Commitments at
such time.

     “Required U.S. Revolving Lenders” shall mean, at any time, U.S. Revolving Lenders having U.S.
Revolving Credit Loans, a share of the U.S. L/C Exposure and unused U.S. Revolving Commitments
representing at least a majority of the sum of all U.S. Revolving Credit Loans outstanding, the
U.S. L/C Exposure and unused U.S. Revolving Commitments at such time.

     “Required U.S. Term Lenders” shall mean, at any time, U.S. Term Lenders having U.S. Term Loans
representing at least a majority of the sum of all U.S. Tern Loans outstanding at such time.

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     “Reset Date” shall have the meaning assigned to such term in Section 1.05.

     “Responsible Officer” of any person shall mean any executive officer or Financial Officer of
such person and any other officer or similar official thereof responsible for the administration of
the obligations of such person in respect of this Agreement or any other Loan Document.

     “Restricted Indebtedness” shall mean Subordinated Indebtedness of the U.S. Borrower or any
Subsidiary, the payment, prepayment, repurchase or defeasance of which is restricted under Section
6.09(b).

     “Restricted Payment” shall mean any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in the U.S. Borrower or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any Equity Interests in the U.S. Borrower or any Subsidiary or any
option, warrant or other right to acquire any such Equity Interests in the U.S. Borrower or any
Subsidiary.

     “Revolving Commitments” shall mean the Canadian Revolving Commitments and the U.S. Revolving
Commitments.

     “Revolving Credit Loans” shall mean U.S. Revolving Credit Loans or Canadian Revolving Credit
Loans, as the context may require.

     “Rolled Letter of Credit” shall mean each Letter of Credit previously issued for the account
of a Borrower that (a) is outstanding on the Effective Date and (b) is listed on Schedule 1.01(a).

     “Schedule I Bank” shall mean a bank that is a Canadian chartered bank listed on Schedule I
under the Bank Act (Canada).

     “Schedule II Bank” shall mean a bank that is a Canadian chartered bank listed on Schedule II
under the Bank Act (Canada).

     “Schedule II Reference Banks” shall mean no more than three Schedule II Banks as approved by
the Canadian Administrative Agent and the Borrowers.

     “Schedule III Bank” shall mean a bank that is a Canadian bank listed on Schedule III under the
Bank Act (Canada).

     “Schedule III Bank” shall mean no more than three Schedule III Banks as approved by the
Canadian Administrative Agent and the Borrowers.

     “Scheme Consideration” shall have the meaning assigned to it in the MAC Merger Agreement.

     “SEC” shall mean the Securities and Exchange Commission, and any successor entity.

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     “Second Court Date” shall have the meaning assigned to it in the MAC Merger Agreement.

     “Secured Parties” shall mean, collectively, the U.S. Secured Parties and the Canadian Secured
Parties.

     “Security Agreements” shall mean, collectively, the U.S. Security Agreement, the Canadian
Security Agreement and the Australian Security Agreement.

     “Security Documents” shall mean the Security Agreements, the Pledge Agreements, and each of
the security agreements, mortgages and other instruments and documents executed and delivered
pursuant to any of the foregoing or pursuant to Section 5.09.

     “Solvent” shall mean, with respect to any person, (a) the fair value of the assets of such
person exceeds its debts and liabilities, contingent or otherwise; (b) the present fair saleable
value of the property of such person are greater than the amount that will be required to pay the
probable liability associated with its debts and other liabilities, contingent or otherwise, as
such debts and other liabilities become absolute and matured; (c) such person is able to pay its
debts and liabilities, contingent or otherwise, as such debts and liabilities become absolute and
matured; and (d) such person does not have unreasonably small capital with which to conduct its
business in which it is engaged as such business is now conducted and is proposed to be conducted
following the Effective Date.

     “S&P” shall mean Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies,
Inc., or any successor thereof which is a nationally recognized statistical rating organization.

     “SPC” shall have the meaning assigned to such term in Section 9.04(g).

     “Special Purpose Business Entity” shall mean each entity listed on Schedule 3.08 as being a
Special Purpose Business Entity and any other entity formed by the Canadian Parent or any of its
Subsidiaries, or in which the Canadian Parent or any of its Subsidiaries acquires an Equity
Interest, in each case so long as (i) such entity is formed, or such Equity Interest is acquired,
after October 30, 2003, (ii) such entity is, or proposes to engage in, a joint venture with persons
that are, or are owned or controlled by, aboriginal peoples in Alaska or Canada, (iii) any loans or
advances to, or investments in such Special Purpose Business Entity is permitted by Section 6.04,
and (iv) the Canadian Parent delivers a certificate of a Responsible Officer to the Administrative
Agents designating such Special Purpose Business Entity as such and certifying compliance with the
foregoing requirements of this definition.

     “Specified Representations” shall mean, to the extent applicable to the MAC Group and its
subsidiaries, the representations and warranties contained in Sections 3.01, 3.02, 3.03, 3.04(a),
3.12, 3.19 and 3.22.

     “Stage 1 CP Satisfaction Date” shall mean the date three Sydney Business Days before the
Second Court Date.

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     “Standard Time” shall mean eastern standard time or eastern daylight savings time, as
applicable on the relevant date.

     “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is
the number one and the denominator of which is the number one minus the aggregate of the maximum
reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed
as a decimal established by the Board for Eurocurrency Liabilities (as defined in Regulation D of
the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Eurocurrency Loans shall be deemed to constitute Eurocurrency Liabilities and to be subject to such
reserve requirements without benefit of or credit for proration, exemptions or offsets that may be
available from time to time to any Lender under such Regulation D. Statutory Reserves shall be
adjusted automatically on and as of the effective date of any change in any reserve percentage.

     “Subordinated Indebtedness” shall mean Indebtedness of a Loan Party that is subordinated to
the prior payment in full of the Obligations on terms reasonably satisfactory to the Administrative
Agent.

     “subsidiary” shall mean, with respect to any person (herein referred to as the “parent”), any
corporation, partnership, association or other business entity of which securities or other
ownership interests representing more than 50% of the equity or more than 50% of the ordinary
voting power are, at the time any determination is being made, owned, controlled or held by the
parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of
the parent.

     “Subsidiary” shall mean any subsidiary of the U.S. Borrower other than a Special Purpose
Business Entity.

     “Subsidiary Guarantee Agreements” shall mean, collectively, the U.S. Subsidiary Guarantee
Agreement, the Canadian Subsidiary Guarantee Agreement and the Australian Guarantee Agreement.

     “Subsidiary Guarantors” shall mean, collectively, the U.S. Subsidiary Guarantors, the Canadian
Subsidiary Guarantors, PTI Holdco, PTI Australia 1 and PTI Australia 2.

     “Swing Line Borrowing” shall mean a U.S. Swing Line Borrowing or a Canadian Swing Line
Borrowing, as the context may require.

     “Swing Line Lender” shall mean the U.S. Swing Line Lender or the Canadian Swing Line Lender,
as the context may require.

     “Swing Line Loan” shall mean a U.S. Swing Line Loan or a Canadian Swing Line Loan, as the
context may require.

     “Swing Line Payment Date” shall mean (a) if an AutoBorrow Agreement is in effect, the earliest
to occur of (i) the date required by such AutoBorrow Agreement, (ii) demand is made by the
Applicable Swing Line Lender and (iii) the Maturity Date, or (b) if an AutoBorrow Agreement is not
in effect, the earlier to occur of (i) three (3) Business Days after demand is

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made by the Applicable Swing Line Lender if no Default or Event of Default exists, and
otherwise upon demand by the Applicable Swing Line Lender and (ii) the Maturity Date.

     “Swing Line Sublimit” shall mean the U.S. Swing Line Sublimit or the Canadian Swing Line
Sublimit, as the context may require.

     “Sydney Business Day” shall mean any day other than a Saturday, Sunday or day on which banks
in Sydney, Australia are authorized or required by law to close.

     “Synthetic Purchase Agreement” shall mean any swap, derivative or other agreement or
combination of agreements pursuant to which the U.S. Borrower or any Subsidiary is or may become
obligated to make (a) any payment in connection with a purchase by any third party from a person
other than the U.S. Borrower or any Subsidiary of any Equity Interest or Restricted Indebtedness or
(b) any payment (other than on account of a permitted purchase by it of any Equity Interest or
Restricted Indebtedness) the amount of which is determined by reference to the price or value at
any time of any Equity Interest or Restricted Indebtedness; provided that no phantom stock or
similar plan providing for payments only to current or former directors, officers or employees of
the U.S. Borrower or the Subsidiaries (or to their heirs or estates) shall be deemed to be a
Synthetic Purchase Agreement.

     “Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions,
assessments, charges, liabilities or withholdings imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

     “Term Commitment” shall mean the U.S. Term Commitment and/or the Canadian Term Commitment, as
the context may require.

     “Term Loans” shall mean the U.S. Term Loans or the Canadian Term Loans, as the context may
require.

     “Total Canadian Revolving Commitment” shall mean, at any time, the aggregate amount of the
Canadian Revolving Commitments, as in effect at such time.

     “Total Debt” at any time shall mean the Indebtedness of the U.S. Borrower and its subsidiaries
at such time (excluding Indebtedness of the type described in clause (i) of the definition of such
term, except to the extent of any unreimbursed drawings thereunder).

     “Total U.S. Revolving Commitment” shall mean, at any time, the aggregate amount of the U.S.
Revolving Commitments, as in effect at such time.

     “Transactions” shall mean, collectively, (a) the consummation of the MAC Merger, (b) the
entering by the Loan Parties into Loan Documents to which they are to be a party, (c) the
Refinancing Transactions, and (d) the payment of the fees and expenses incurred in connection with
the consummation of the foregoing.

     “Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to
which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes
hereof, the term “Rate” shall include the Adjusted LIBO Rate, the

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Alternate Base Rate, the Canadian Prime Rate, the U.S. Base Rate and the B/A Discount Rate
applicable to Bankers’ Acceptances and B/A Equivalent Loans.

     “U.S. Applicable Pro Rata Percentage” shall mean with respect to any U.S. Revolving Lender or
U.S. Term Lender, the U.S. Revolving Pro Rata Percentage or the U.S. Term Loan Pro Rata Percentage,
respectively.

     “U.S. Base Rate” shall mean, for any day, a rate per annum equal to the greatest of (a) the
rate of interest per annum publicly announced from time to time by the Canadian Administrative
Agent as its base rate in effect at its principal office in Toronto, Ontario for determining
interest rates on U.S. dollar-denominated commercial loans made in Canada, (b) the Federal Funds
Effective Rate in effect on such day plus 1/2 of 1.0% and (c) the sum of the Adjusted LIBO Rate in
effect for such day (or if such day is not a Business Day, the immediately preceding Business Day)
for a deposit in U.S. dollars with a maturity of one month plus 1.0%. Each change in the U.S. Base
Rate shall be effective on the date such change is publicly announced as being effective.

     “U.S. Borrower Guarantee Agreement” shall mean the U.S. Borrower Guarantee Agreement,
substantially in the form of Exhibit G-3, between the U.S. Borrower and the Canadian Collateral
Agent for the benefit of the Canadian Secured Parties.

     “U.S. Collateral” shall mean all “Collateral” as defined in any Security Document, other than
Canadian Collateral.

     “U.S. Commitment” shall mean a U.S. Revolving Commitment or a U.S. Term Commitment, as the
context requires.

     “U.S. Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a).

     “U.S. Dollar Equivalent” shall mean, on any date of determination, with respect to any amount
in Canadian dollars or an Alternative Currency, the equivalent in U.S. dollars of such amount,
determined by the Administrative Agent using the Exchange Rate then in effect.

     “U.S. L/C Exposure” shall mean at any time the sum of (a) the U.S. Dollar Equivalent of the
aggregate undrawn amount of all outstanding U.S. Letters of Credit at such time plus (b) the U.S.
Dollar Equivalent of the aggregate principal amount of all L/C Disbursements in respect of U.S.
Letters of Credit that have not yet been reimbursed at such time. The U.S. L/C Exposure of any
U.S. Revolving Lender at any time shall mean its U.S. Revolving Pro Rata Percentage of the
aggregate U.S. L/C Exposure at such time.

     “U.S. L/C Participation Fee” shall have the meaning assigned to such term in Section 2.05(c)

     “U.S. Lenders” shall mean the Lenders having U.S. Commitments or outstanding U.S. Loans.

     “U.S. Loan” shall mean a U.S. Revolving Credit Loan or a U.S. Term Loan. Each U.S. Loan shall
be an ABR Loan or a Eurocurrency Loan.

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     “U.S. Pledge Agreement” shall mean the U.S. Pledge Agreement, substantially in the form of
Exhibit E-1, among the U.S. Borrower, the Subsidiaries party thereto and the U.S. Collateral Agent
for the benefit of the Secured Parties.

     “U.S. Revolving Borrowing” shall mean group of U.S. Revolving Credit Loans of a single Type
made, converted or continued by the U.S. Revolving Lenders on a single date and, in the case of a
Eurocurrency Borrowing, as to which a single Interest Period is in effect.

     “U.S. Revolving Commitment” shall mean, with respect to each U.S. Revolving Lender, the
commitment of such U.S. Revolving Lender to (a) make U.S. Revolving Credit Loans hereunder, (b)
purchase participations in the U.S. L/C Exposure and (c) purchase participations in U.S. Swing Line
Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set
forth opposite such Lender’s name on Schedule 2.01 under the caption “U.S. Revolving Credit
Commitment”, or in the Assignment and Acceptance pursuant to which such U.S. Revolving Lender
assumed its U.S. Revolving Commitment, as applicable, as the same may be (i) reduced from time to
time pursuant to Section 2.09 and (ii) reduced or increased from time to time pursuant to
assignments by or to such U.S. Revolving Lender pursuant to Section 9.04. The aggregate amount of
the U.S. Revolving Commitments as of the Effective Date is $500,000,000.

     “U.S. Revolving Credit Exposure” shall mean, with respect to any U.S. Revolving Lender at any
time, the aggregate principal amount at such time of all outstanding U.S. Revolving Credit Loans of
such U.S. Revolving Lender, plus the U.S. Dollar Equivalent of the aggregate amount at such time of
such U.S. Revolving Lender’s U.S. Revolving Pro Rata Percentage of the U.S. L/C Exposure plus such
U.S. Revolving Lender’s U.S. Revolving Pro Rata Percentage of the outstanding amount all U.S. Swing
Line Loans.

     “U.S. Revolving Credit Facility” shall mean at any time the aggregate amount of the U.S.
Revolving Commitments of the U.S. Revolving Lenders at such time.

     “U.S. Revolving Credit Loan” shall mean the U.S. dollar-denominated Revolving Credit Loans
made by the U.S. Revolving Lenders to the U.S. Borrower.

     “U.S. Revolving Lender” shall mean any U.S. Lender that has a U.S. Revolving Commitment or
holds a U.S. Revolving Credit Loan or a participation in a U.S. Letter of Credit or a U.S. Swing
Line Loan.

     “U.S. Revolving Pro Rata Percentage” of any U.S. Revolving Lender, subject to any adjustment
as provided in Section 2.24(c), the percentage of the aggregate U.S. Revolving Commitments
represented by such U.S. Revolving Lender’s U.S. Revolving Commitment; provided that if the U.S.
Revolving Commitments have terminated, the U.S. Revolving Pro Rata Percentages of the U.S.
Revolving Lenders shall be determined based upon the U.S. Revolving Commitments most recently in
effect, giving effect to any assignments.

     “U.S. Secured Parties” shall have the meaning assigned to such term in the U.S. Security
Agreement.

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     “U.S. Security Agreement” shall mean the U.S. Security Agreement, substantially in the form of
Exhibit F-1, among the U.S. Borrower, the Subsidiaries party thereto and the U.S. Collateral Agent
for the benefit of the Secured Parties.

     “U.S. Security Documents” shall mean the U.S. Security Agreement, the U.S. Pledge Agreement
and each other Security Document to which the U.S. Borrower or any Domestic Subsidiary is a party
and that purports to grant a Lien in the assets of any such person in favor of the U.S. Collateral
Agent for the benefit of the Secured Parties.

     “U.S. Subsidiary Guarantee Agreement” shall mean the U.S. Subsidiary Guarantee Agreement,
substantially in the form of Exhibit G-1, between the U.S. Subsidiary Guarantors and the U.S.
Collateral Agent for the benefit of the Secured Parties.

     “U.S. Subsidiary Guarantor” shall mean each Subsidiary of the U.S. Borrower listed on Schedule
1.01(b), and each other Material Subsidiary that is or becomes a party to the U.S. Subsidiary
Guarantee Agreement.

     “U.S. Swing Line Borrowing” shall mean a borrowing of a U.S. Swing Line Loan pursuant to
Section 2.23(a)(i) or, if an AutoBorrow Agreement is in effect, any transfer of funds
pursuant to such AutoBorrow Agreement.

     “U.S. Swing Line Lender” shall mean Wells Fargo in its capacity as provider of U.S. Swing Line
Loans, or any successor swing line lender hereunder.

     “U.S. Swing Line Loan” has the meaning assigned to such term in Section 2.23(a)(i).

     “U.S. Swing Line Sublimit” shall mean U.S.$75,000,000. The U.S. Swing Line Sublimit is part
of, and not in addition to, the U.S. Revolving Commitments.

     “U.S. Term Borrowing” shall mean group of U.S. Term Loans of a single Type made, converted or
continued by the U.S. Term Lenders on a single date and, in the case of a Eurocurrency Borrowing,
as to which a single Interest Period is in effect.

     “U.S. Term Commitment” shall mean, with respect to each U.S. Term Lender, the commitment of
such U.S. Term Lender to make a single U.S. Term Loan to the U.S. Borrower on the Effective Date in
an aggregate principal amount not to exceed the U.S. dollar amount set forth opposite such Lender’s
name on Schedule 2.01. The aggregate amount of the U.S. Term Commitments as of the Effective Date
is $200,000,000.

     “U.S. Term Lender” shall mean any U.S. Lender that has a U.S. Term Commitment or holds a U.S.
Term Credit Loan.

     “U.S. Term Loan” shall mean the U.S. dollar-denominated term loans made by the U.S. Term
Lenders to the U.S. Borrower.

     “U.S. Term Loan Facility” shall mean (a) at any time on or prior to the Effective Date, the
aggregate amount of the U.S. Term Commitments at such time and (b) at any time after the

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Effective Date, the aggregate principal amount of the U.S. Term Loans of all U.S. Term Lenders
outstanding at such time.

     “U.S. Term Loan Pro Rata Percentage” with respect to any U.S. Term Lender, (a) prior to the
termination of the U.S. Term Commitments, the percentage of the aggregate U.S. Term Commitments
represented by such U.S. Lender’s U.S. Term Commitment at such time and (b) following the
termination of the U.S. Term Commitments, the percentage of the aggregate principal amount of the
U.S. Term Loans represented by such U.S. Lender’s U.S. Term Loans at such time.

     “wholly owned Subsidiary” of any person shall mean (a) any subsidiary of such person of which
securities (except for directors’ qualifying shares and, in the case of PTI Holdco, the
Exchangeable Shares) or other ownership interests representing 100% of the equity or 100% of the
ordinary voting power are, at the time any determination is being made, owned, controlled or held
by such person or one or more wholly owned subsidiaries of such person or by such person and one or
more wholly owned subsidiaries of such person or (b) any subsidiary that is organized in a foreign
jurisdiction and is required by the applicable laws and regulations of such foreign jurisdiction to
be partially owned by the government of such foreign jurisdiction or individual or corporate
citizens of such foreign jurisdiction, provided that such person, directly or indirectly, owns the
remaining Equity Interests in such subsidiary and, by contract or otherwise, controls the
management and business of such subsidiary and derives economic benefits of ownership of such
subsidiary to substantially the same extent as if such subsidiary were a wholly owned subsidiary.

     “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete
or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle
E of Title IV of ERISA.

     SECTION 1.02 Terms Generally. The definitions in Section 1.01 shall apply equally to both the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”; and the
words “asset” and “property” shall be construed as having the same meaning and effect and to refer
to any and all tangible and intangible assets and properties, including cash, securities, accounts
and contract rights. Unless the context requires otherwise (a) any definition of or reference to
any agreement, instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth
herein), (b) any reference herein to any person shall be construed to include such person’s
successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar
import, shall be construed to refer to this Agreement in its entirety and not to any particular
provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be
deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement, and
(e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such
law or regulation as amended, modified or supplemented from time to time. Except as otherwise
expressly provided herein, all terms of an accounting or

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financial nature shall be construed in accordance with GAAP, as in effect from time to time;
provided, however, that if the U.S. Borrower notifies the Administrative Agent that the Borrowers
wish to amend any covenant in Article VI or any related definition to eliminate the effect of any
change in GAAP occurring after the date of this Agreement on the operation of such covenant (or if
the Administrative Agent notifies the U.S. Borrower that the Required Lenders wish to amend Article
VI or any related definition for such purpose), then the Borrowers’ compliance with such covenant
shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP
became effective, until either such notice is withdrawn or such covenant is amended in a manner
satisfactory to the U.S. Borrower and the Required Lenders.

     SECTION 1.03 Several Obligations; Power of Attorney. (a) Subject to the U.S. Borrower’s
obligations under the U.S. Borrower Guarantee Agreement, the obligations of the Borrowers to pay
the principal of and interest on each Loan are several and not joint, and the Canadian Parent, its
Subsidiaries and any other Canadian Subsidiaries shall not be liable for the payment obligations of
the U.S. Borrower hereunder.

     (b) Each of the Canadian Borrowers hereby appoints the U.S. Borrower and each of its officers
to be its attorneys in fact (its “Attorneys”) and in its name and on its behalf and as its act and
deed or otherwise to sign all documents and carry out all such acts as are necessary or appropriate
in connection with executing any Borrowing Request, any Loan Documents or any other instruments,
certificates or documents delivered thereunder or in connection therewith (collectively, the
“Documents”). This Power of Attorney shall be valid for the duration of the term of this
Agreement. Each Canadian Borrower hereby ratifies any and all acts which any of its Attorneys
shall do in order to execute on its behalf, or in connection with, the Documents mentioned herein.

     SECTION 1.04 Classification of Loans and Borrowings. For purposes of this Agreement, Loans
may be classified and referred to by Class (e.g., a “U.S. Revolving Credit Loan”) or by Type (e.g.,
a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency U.S. Revolving Credit Loan”).
Borrowings also may be classified and referred to by Class (e.g., a “U.S. Revolving Borrowing”) or
by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency U.S.
Revolving Borrowing”).

     SECTION 1.05 Exchange Rate Calculations. On each Calculation Date, the Administrative Agent
shall (a) determine the Exchange Rate as of such Calculation Date and (b) give notice thereof to
the Borrowers and to each Lender that shall have requested such information. The Exchange Rates so
determined shall become effective on the first Business Day immediately following the relevant
Calculation Date (each, a “Reset Date”) and shall remain effective until the next succeeding Reset
Date, and shall for all purposes of this Agreement (other than any other provision expressly
requiring the use of a current Exchange Rate) be the Exchange Rate employed in converting amounts
between U.S. Dollars and Canadian dollars or any other Alternative Currency.

     SECTION 1.06 Additional Alternative Currencies. The Borrowers may from time to time request
that Letters of Credit be issued in a currency other than those specifically listed in the
definition of “Alternative Currency;” provided that such requested currency is a lawful

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currency that is readily available and freely transferable and convertible into U.S. dollars.
Such request shall be subject to the approval of the Administrative Agent and the Applicable
Issuing Bank. Any such request shall be made to the Administrative Agent not later than 12:00 p.m.
(Standard Time), ten Business Days prior to the date of the requested Letter of Credit (or such
other time or date as may be agreed by the Administrative Agent and the Applicable Issuing Bank, in
its or their sole discretion). The Administrative Agent shall promptly notify the Applicable
Issuing Bank thereof. The Applicable Issuing Bank shall notify the Administrative Agent, not later
than 12:00 p.m. (Standard Time), five Business Days after receipt of such request whether it
consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such
requested currency. Any failure by the Applicable Issuing Bank to respond to such request within
the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing
Bank to issue the requested Letters of Credit in such requested currency at that time. If the
Administrative Agent and the Applicable Issuing Bank consent to the issuance of Letters of Credit
in such requested currency, the Administrative Agent shall so notify the Borrowers and such
currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for
purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain
consent to any request for an additional currency under this Section 1.06, the Administrative Agent
shall promptly so notify the Borrowers.

ARTICLE II

The Credits

     SECTION 2.01 Commitments. Subject to the terms and conditions and relying upon the
representations and warranties herein set forth:

     (a) each U.S. Revolving Lender agrees, severally and not jointly, to make U.S. Revolving
Credit Loans in U.S. dollars to the U.S. Borrower, at any time and from time to time on or after
the Effective Date, and until the earlier of the Maturity Date and the termination of the U.S.
Revolving Commitment of such Lender in accordance with the terms hereof, in an aggregate principal
amount at any time outstanding that will not result in such Lender’s U.S. Revolving Credit Exposure
exceeding such Lender’s U.S. Revolving Commitment;

     (b) each Canadian Revolving Lender agrees, severally and not jointly, to make Canadian
Revolving Credit Loans in Canadian dollars and/or U.S. dollars to either Canadian Borrower at any
time and from time to time on or after the Effective Date, and until the earlier of the Maturity
Date and the termination of the Canadian Revolving Commitment of such Lender in accordance with the
terms hereof, in an aggregate principal amount at any time outstanding that will not result in such
Lender’s Canadian Revolving Credit Exposure exceeding such Lender’s Canadian Revolving Commitment;

     (c) each U.S. Term Lender agrees, severally and not jointly, to make a single U.S. Term Loan
in U.S. dollars to the U.S. Borrower on the Effective Date, in a principal amount not to exceed
such Lender’s U.S. Term Commitment;

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     (d) each Canadian Term Lender agrees, severally and not jointly, to make a single Canadian
Term Loan in Canadian dollars or U.S. dollars to PTI Premium on the Effective Date, in a principal
amount not to exceed such Lender’s Canadian Term Commitment;

     (e) the U.S. Swing Line Lender agrees to make Swing Line Loans in U.S. dollars to the U.S.
Borrower in accordance with Section 2.23;

     (f) the Canadian Swing Line Lender agrees to make Swing Line Loans in Canadian dollars or U.S.
dollars to either Canadian Borrower in accordance with Section 2.23; and

     (g) within the limits set forth in the preceding sentence and subject to the terms, conditions
and limitations set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Credit
Loans and the Borrowers may prepay the Term Loans but no amount paid or repaid with respect to the
Term Loans may be reborrowed.

     SECTION 2.02 Loans. (a) Each Loan shall be made as part of a Borrowing consisting of Loans
made by the Applicable Lenders ratably in accordance with their Applicable Pro Rata Percentages of
the applicable Facility; provided, however, that the failure of any Lender to make any Loan shall
not in itself relieve any other Lender of its obligation to lend hereunder (it being understood,
however, that no Lender shall be responsible for the failure of any other Lender to make any Loan
required to be made by such other Lender). Except for Loans deemed made pursuant to Section
2.02(g), the Loans comprising any Borrowing shall be in an aggregate principal amount that is (i)
in the case of ABR Loans or U.S. Base Rate Loans, an integral multiple of U.S.$100,000 and in a
minimum amount of U.S.$500,000, (ii) in the case of Eurocurrency Loans, an integral multiple of
U.S.$1,000,000 and in a minimum amount of U.S.$3,000,000, (iii) in the case of Canadian
dollar-denominated Loans, an integral multiple of C$100,000 and in a minimum amount of C$1,000,000
or (iv) equal to the remaining available balance of the applicable Commitment.

     (b) Subject to Sections 2.08 and 2.14, (i) each Borrowing denominated in U.S. dollars shall be
comprised entirely of ABR Loans (if made to the U.S. Borrower), U.S. Base Rate Loans (if made to a
Canadian Borrower) or Eurocurrency Loans as the Applicable Borrower may request pursuant to Section
2.03 and (ii) each Borrowing denominated in Canadian dollars shall be comprised entirely of B/A
Loans or Canadian Prime Rate Loans as a Canadian Borrower may request pursuant to Section 2.03.
Each Lender may at its option make any Eurocurrency Loan or Canadian Loan denominated in U.S.
dollars by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan;
provided that any exercise of such option shall not affect the obligation of any Borrower to repay
such Loan in accordance with the terms of this Agreement or cause any Borrower to incur any cost
under Section 2.19 that would not have been incurred but for the exercise of such option.
Borrowings of more than one Type may be outstanding at the same time; provided, however, that the
Borrowers shall not be entitled to request any Borrowing that, if made, would result in more than
ten Eurocurrency Borrowings outstanding hereunder at any time or more than ten B/A Borrowings
outstanding hereunder at any time. For purposes of the foregoing, Eurocurrency Borrowings having
different Interest Periods and B/A Borrowings having different Contract Periods, regardless of
whether they commence on the same date, shall be considered separate Borrowings.

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     (c) Except with respect to Loans made pursuant to Section 2.02(g), each U.S. Lender making
Loans denominated in U.S. dollars to the U.S. Borrower shall make each such Loan to be made by it
hereunder on the proposed date thereof by wire transfer of immediately available funds to such
account as the Administrative Agent may designate not later than 1:00 p.m. (Standard Time) in the
case of a Eurocurrency Borrowing, or 3:00 p.m. (Standard Time) in the case of an ABR Borrowing, and
the Administrative Agent shall promptly credit the amounts so received to an account designated by
the U.S. Borrower in the applicable Borrowing Request. Except with respect to Loans made pursuant
to Section 2.02(g), each Canadian Lender making Loans to a Canadian Borrower shall make each
Canadian Loan to be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds to such account in Toronto, Ontario, as the Canadian Administrative
Agent may designate not later than 1:00 p.m. (Standard Time) in the case of a Eurocurrency
Borrowing or a B/A Borrowing, or 3:00 p.m. (Standard Time) in the case of a Canadian Prime Rate
Borrowing or U.S. Base Rate Borrowing, and the Canadian Administrative Agent shall promptly credit
the amounts so received to an account designated by such Canadian Borrower in the applicable
Borrowing Request.

     (d) Unless the Applicable Administrative Agent shall have received notice from a Lender prior
to the time of any Borrowing that such Lender will not make available to the Applicable
Administrative Agent such Lender’s Applicable Pro Rata Percentage of such Borrowing, the Applicable
Administrative Agent may assume that such Lender has made such portion available to the Applicable
Administrative Agent on the date of such Borrowing in accordance with paragraph (c) above and the
Applicable Administrative Agent may, in reliance upon such assumption, make available to the
Applicable Borrower on such date a corresponding amount. If the Applicable Administrative Agent
shall have so made funds available then, to the extent that such Lender shall not have made such
portion available to the Applicable Administrative Agent, such Lender and the Applicable Borrower
severally agree to repay to the Applicable Administrative Agent forthwith on demand such
corresponding amount together with interest thereon, for each day from the date such amount is made
available to the Applicable Borrower until the date such amount is repaid to the Applicable
Administrative Agent at (i) in the case of a Borrower, a rate per annum equal to the interest rate
applicable to Loans pursuant to Section 2.06(a) or 2.06(c), as the case may be, and (ii) in the
case of such Lender, at the greater of the Federal Funds Effective Rate and a rate determined by
the Applicable Administrative Agent in accordance with banking industry rules on interbank
compensation (which determination shall be conclusive absent manifest error). If such Borrower and
such Lender shall pay such interest to the Applicable Administrative Agent for the same or an
overlapping period, the Applicable Administrative Agent shall promptly remit to the Applicable
Borrower the amount of such interest paid by such Borrower for such period. If such Lender shall
repay to the Applicable Administrative Agent such corresponding amount, such amount shall
constitute such Lender’s Loan as part of such Borrowing for purposes of this Agreement; provided,
however, that the foregoing does not constitute a waiver by any Borrower of any claim for damages
permitted hereunder and attributable to such Lender. Any payment by a Borrower shall be without
prejudice to any claim any Borrower may have against a Lender that shall have failed to make such
payment to the Applicable Administrative Agent.

     (e) Unless the Applicable Administrative Agent shall have received notice from the Applicable
Borrower prior to the date on which any payment is due to the Applicable Administrative Agent for
the account of the Applicable Lenders, the Applicable Issuing Bank or

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the Applicable Swing Line Lender hereunder that the Applicable Borrower will not make such
payment, the Applicable Administrative Agent may assume that the Applicable Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such assumption, distribute
to the Applicable Lenders, the Applicable Issuing Bank or the Applicable Swing Line Lender, as the
case may be, the amount due. In such event, if the Applicable Borrower has not in fact made such
payment, then each of the Applicable Lenders, the Applicable Issuing Bank or the Applicable Swing
Line Lender, as the case may be, severally agrees to repay to the Applicable Administrative Agent
forthwith on demand the amount so distributed to such Applicable Lender, such Applicable Issuing
Bank or the Applicable Swing Line Lender, with interest thereon, for each day from and including
the date such amount is distributed to it to but excluding the date of payment to the Applicable
Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by
the Applicable Administrative Agent in accordance with banking industry rules on interbank
compensation.

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

     (g) If an Issuing Bank shall not have received from the U.S. Borrower or the applicable
Canadian Borrower, as the case may be, the payment required to be made by Section 2.21(e) within
the time specified in such Section, such Issuing Bank will promptly notify the Applicable
Administrative Agent of the U.S. Dollar Equivalent of such L/C Disbursement and the Applicable
Administrative Agent will promptly notify each U.S. Revolving Lender or Canadian Revolving Lender,
as applicable, of the U.S. Dollar Equivalent of such L/C Disbursement and its U.S. Revolving Pro
Rata Percentage or Canadian Revolving Pro Rata Percentage, as applicable, thereof. Each such
Revolving Lender shall pay by wire transfer of immediately available funds to the Applicable
Administrative Agent not later than 2:00 p.m. (Standard Time) on such date (or, if such Revolving
Lender shall have received such notice later than 12:00 p.m. (Standard Time) on any day, not later
than 11:00 a.m. (Standard Time) on the immediately following Business Day), an amount equal to such
Lender’s U.S. Revolving Pro Rata Percentage or Canadian Revolving Pro Rata Percentage, as
applicable, of the U.S. Dollar Equivalent of such L/C Disbursement (it being understood that such
amount shall be deemed to constitute an ABR Loan or a Canadian Prime Rate Loan, as applicable, of
such Lender and such payment shall be deemed to have reduced the U.S. L/C Exposure or the Canadian
L/C Exposure, as applicable), and the Applicable Administrative Agent will promptly pay to such
Issuing Bank amounts so received by it from such Lenders. The Applicable Administrative Agent will
promptly pay to such Issuing Bank any amounts received by it from a Borrower pursuant to Section
2.21(e) prior to the time that any Lender makes any payment pursuant to this paragraph (g); any
such amounts received by the Applicable Administrative Agent thereafter will be promptly remitted
by the Applicable Administrative Agent to the Lenders that shall have made such payments and to
such Issuing Bank, as their interests may appear. If any Lender shall not have made its U.S.
Revolving Pro Rata Percentage or Canadian Revolving Pro Rata Percentage, as applicable, of such L/C
Disbursement available to the Applicable Administrative Agent as provided above, such Lender and
the Borrower for whose account such L/C Disbursement was made severally agree to pay interest on
such amount, for each day from and including the date such amount is required to be paid in
accordance with this paragraph to but excluding the date such amount is paid, to the Applicable
Administrative Agent for the account

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of such Issuing Bank at (i) in the case of such Borrower, a rate per annum equal to the interest rate
applicable to Loans pursuant to Section 2.06(a) or 2.06(c), as the case may be, and (ii) in the
case of such Lender, at the greater of the Federal Funds Effective Rate and a rate determined by
the Applicable Administrative Agent in accordance with banking industry rules on interbank
compensation (which determination shall be conclusive absent manifest error); provided, however,
that the foregoing does not constitute a waiver by any Borrower of any claim for damages permitted
hereunder and attributable to such Lender. In addition, if there is a change in the rate of
exchange prevailing between the Alternative Currency of such L/C Disbursement and the U.S. Dollar
Equivalent thereof as determined by the Applicable Administrative Agent on the date of the L/C
Disbursement and the date of actual payment of the amount due (whether by a U.S. Revolving Lender,
a Canadian Revolving Lender or the Borrower for whose account such L/C Disbursement was made), the
Borrower for whose account such L/C Disbursement was made covenants and agrees to pay, or cause to
be paid, such additional amounts, if any, as may be necessary to ensure that the amount paid in
U.S. Dollars, when converted at the rate of exchange prevailing on the date of payment, will
produce the U.S. Dollar Equivalent of such L/C Disbursement which could have been purchased with
the amount of the Alternative Currency of such L/C Disbursement at the rate of exchange prevailing
on the date of the L/C Disbursement. For purposes of determining the U.S. Dollar Equivalent or
rate of exchange for this Section, such amounts shall include any premium and costs payable in
connection with the purchase of the Alternative Currency.

     SECTION 2.03 Borrowing Procedure. (a) In order to request a Borrowing (other than a deemed
Borrowing pursuant to Section 2.02(g) or a Swing Line Borrowing as to which this Section 2.03(a)
shall not apply), the U.S. Borrower shall hand deliver, fax or send by electronic communication
(e-mail) (or by telephone notice promptly confirmed by a written, fax or electronic communication
(e-mail)) to the Administrative Agent a duly completed Borrowing Request (a) in the case of a
Eurocurrency Borrowing, not later than 3:00 p.m. (Standard Time) three Business Days before a
proposed Borrowing, and (b) in the case of an ABR Borrowing not later than 1:00 p.m. (Standard
Time) on the day of the proposed Borrowing. Each such Borrowing Request shall be irrevocable,
shall be signed by or on behalf of a Responsible Officer of the U.S. Borrower and shall specify the
following information: (i) whether the Borrowing being requested is to be a U.S. Revolving
Borrowing or a U.S. Term Borrowing, (ii) whether such Borrowing is to be a Eurocurrency Borrowing
or an ABR Borrowing; (iii) the date of such Borrowing (which shall be a Business Day); (iv) the
number and location of the account to which funds are to be disbursed (which shall be an account
that complies with the requirements of Section 2.02(c)); (v) the amount of such Borrowing; and (vi)
if such Borrowing is to be a Eurocurrency Borrowing, the Interest Period with respect thereto;
provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each
requested Borrowing shall comply with the requirements set forth in Section 2.02. If no election
as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be
an ABR Borrowing. If no Interest Period with respect to any Eurocurrency Borrowing is specified in
any such notice, then the U.S. Borrower shall be deemed to have selected an Interest Period of one
month’s duration. The Administrative Agent shall promptly advise the Applicable Lenders of any
notice given pursuant to this Section 2.03(a) (and the contents thereof), and of each Lender’s
portion of the requested Borrowing.

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     (b) In order to request a Borrowing (other than a deemed Borrowing pursuant to Section
2.02(g), as to which this Section 2.03(b) shall not apply), a Canadian Borrower (or the U.S.
Borrower on its behalf) shall hand deliver, fax or send by electronic communication (e-mail) (or by
telephone notice promptly confirmed by a written, fax or electronic communication (e-mail)) to the
Canadian Administrative Agent a duly completed Borrowing Request (a) in the case of a B/A Borrowing
or a Eurocurrency Borrowing, not later than 3:00 p.m. (Standard Time) three Business Days before
the proposed Borrowing and (b) in the case of a Canadian Prime Rate Borrowing or U.S. Base Rate
Borrowing, not later than 3:00 p.m. (Standard Time) one Business Day before the proposed Borrowing.
Each such Borrowing Request shall be irrevocable, shall be signed by or on behalf of a Responsible
Officer of the applicable Canadian Borrower (or the U.S. Borrower on its behalf) and shall specify
the following information: (i) whether the Borrowing then being requested is to be denominated in
Canadian dollars or U.S. dollars; (ii) whether such borrowing is to be a Canadian Revolving
Borrowing or a Canadian Term Borrowing; (iii) whether such borrowing is to be a Canadian Prime Rate
Borrowing, a B/A Borrowing, a U.S. Base Rate Borrowing or a Eurocurrency Borrowing; (iv) the date
of such Borrowing (which shall be a Business Day); (v) the number and location of the account to
which funds are to be disbursed (which shall be an account that complies with the requirements of
Section 2.02(c)); (vi) the amount of such Borrowing; and (vii) if such Borrowing is to be a B/A
Borrowing or a Eurocurrency Borrowing, the Contract Period or Interest Period, respectively,
therefor; provided, however, that, notwithstanding any contrary specification in any Borrowing
Request, each requested Borrowing shall comply with the requirements set forth in Section 2.02. If
no election as to the Type of Borrowing is specified in any such notice, then the requested
Borrowing shall be a Canadian Prime Rate Borrowing (if denominated in Canadian dollars) or a U.S.
Base Rate Borrowing (if denominated in U.S. dollars). If no Contract Period or Interest Period
with respect to a B/A Borrowing or Eurocurrency Borrowing has been specified in any such notice,
then the applicable Canadian Borrower shall be deemed to have selected a Contract Period or
Interest Period of one month’s duration. The Canadian Administrative Agent shall promptly advise
the Applicable Lenders of any notice given pursuant to this Section 2.03(b) (and the contents
thereof), and of each Lender’s portion of the requested Borrowing.

     SECTION 2.04 Evidence of Debt; Repayment of Loans.

     (a) The U.S. Borrower hereby unconditionally promises to pay to the Administrative Agent for
the account of each U.S. Revolving Lender holding U.S. Revolving Credit Loans the then unpaid
principal amount of each such Revolving Credit Loan of such Lender on the Maturity Date. Each
Canadian Borrower hereby unconditionally promises to pay to the Canadian Administrative Agent for
the account of each Canadian Revolving Lender holding Canadian Revolving Credit Loans made to such
Canadian Borrower, the then unpaid principal amount of each such Revolving Credit Loan of such
Canadian Lender on the Maturity Date.

     (b) The U.S. Borrower hereby unconditionally promises to pay to the Administrative Agent for
the account of each U.S. Term Lender holding U.S. Term Loans (i) (A) on each March 31, June 30,
September 30 and December 31, commencing March 31, 2011 and continuing through December 31, 2011, a
principal amount equal to 1.25% of the aggregate principal amount of the U.S. Term Loans made on
the Effective Date, and (B) on each March 31, June 30, September 30 and December 31, commencing
March 31, 2012 and until the last such day to

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occur prior to the Maturity Date, a principal amount equal to 2.50% of the aggregate principal
amount of the U.S. Term Loans made on the Effective Date and (ii) on the Maturity Date for the U.S.
Term Loan Facility, an amount equal to the aggregate principal amount of all U.S. Term Loans
outstanding on such date. Each Canadian Borrower hereby, jointly and severally, unconditionally
promises to pay to the Canadian Administrative Agent for the account of each Canadian Term Lender
holding Canadian Term Loans (i) on each March 31, June 30, September 30 and December 31, commencing
March 31, 2011 and continuing through December 31, 2011, a principal amount equal to 1.25% of the
aggregate principal amount of the Canadian Term Loans made on the Effective Date, and (B) on each
March 31, June 30, September 30 and December 31, commencing March 31, 2012 and until the last such
day to occur prior to the Maturity Date, a principal amount equal to 2.50% of the aggregate
principal amount of the Canadian Term Loans made on the Effective Date and (ii) on the Maturity
Date for the Canadian Term Loan Facility, an amount equal to the aggregate principal amount of all
Canadian Term Loans outstanding on such date.

     (c) The U.S. Borrower shall repay each U.S. Swing Line Loan on the Swing Line Payment Date.
Each Canadian Borrower shall repay each Canadian Swing Line Loan on the Swing Line Payment Date.

     (d) Except for any B/A Loan (the compensation for which is set forth in Section 2.22), each
Loan shall bear interest from and including the date made on the outstanding principal balance
thereof as set forth in Section 2.06.

     (e) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrowers to such Lender resulting from each Loan made by such
Lender from time to time, including the amounts of principal and interest payable and paid such
Lender from time to time under this Agreement, and the purchases and sales by such Lender of
participations in Letters of Credit and Swing Line Loans.

     (f) The Administrative Agents shall maintain accounts in which they will record (i) the amount
of each Loan made hereunder, the Class, Type and currency thereof and the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to become due
and payable from the Applicable Borrower to each Lender hereunder and (iii) the amount of any sum
received by the Applicable Administrative Agent hereunder from any Borrower or any Subsidiary
Guarantor and each Lender’s share thereof.

     (g) The entries made in the accounts maintained pursuant to paragraphs (e) and (f) above shall
be prima facie evidence of the existence and amounts of the obligations therein recorded; provided,
however, that the failure of any Lender or the Administrative Agents to maintain such accounts or
any error therein shall not in any manner affect the obligations of the Borrowers to repay the
Loans in accordance with the terms of this Agreement.

     (h) Any Lender may request that Loans made by it hereunder be evidenced by a promissory note.
In such event, the Applicable Borrower shall execute and deliver to such Lender a promissory note
or promissory notes payable to such Lender and its registered assigns and in a form and substance
reasonably acceptable to the Applicable Administrative Agent and the Applicable Borrower.
Notwithstanding any other provision of this Agreement, in the event

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any Lender shall request and receive such a promissory note, the interests represented by such
note shall at all times (including after any assignment of all or part of such interests pursuant
to Section 9.04) be represented by one or more promissory notes payable to the payee named therein
or its registered assigns.

     SECTION 2.05 Fees. (a) The U.S. Borrower agrees to pay to each U.S. Revolving Lender, through
the Administrative Agent, on the last Business Day of March, June, September and December in each
year, a commitment fee (the “U.S. Commitment Fee”) equal to the Applicable Percentage on the daily
unused amount of the U.S. Revolving Commitments of such U.S. Revolving Lender to make U.S.
Revolving Credit Loans to the U.S. Borrower during the preceding quarter. Each Canadian Borrower
agrees to pay, jointly and severally, to each Canadian Revolving Lender, through the Canadian
Administrative Agent, on the last Business Day of March, June, September and December in each year,
a commitment fee (the “Canadian Commitment Fee”; together with the U.S. Commitment Fee, the
“Commitment Fees”) equal to the Applicable Percentage on the daily unused amount of the Canadian
Revolving Commitments of such Canadian Revolving Lender to make Canadian Revolving Credit Loans to
the Canadian Borrowers during the preceding quarter. All Commitment Fees shall be computed on the
basis of the actual number of days elapsed in a year of 360 days. The Commitment Fees due to each
Revolving Lender shall commence to accrue on the Effective Date, and shall cease to accrue on the
date on which the applicable Revolving Commitment of such Revolving Lender shall expire or be
terminated as provided herein. For the avoidance of doubt, (i) U.S. Swing Line Loans are not
deducted from the U.S. Revolving Commitments when calculating the commitment fee under this Section
2.05(a) and (ii) Canadian Swing Line Loans are not deducted from the Canadian Revolving Commitments
when calculating the commitment fee under this Section 2.05(a).

     (b) Each Borrower agrees to pay to the Applicable Administrative Agent and each Lead Arranger,
for its own account, the administration and arrangement fees separately agreed to from time to time
by such Borrower and such Administrative Agent or such Lead Arranger, including, without
limitation, the fees set forth in the Administrative Agent Fee Letters (the “Administrative Agent
Fees”).

     (c) The U.S. Borrower agrees to pay to each U.S. Revolving Lender, through the Administrative
Agent, on the last Business Day of March, June, September and December of each year, commencing
with the first such date to occur after the Effective Date, and on the date on which the U.S.
Revolving Commitment of such Revolving Lender shall be terminated as provided herein, a fee (the
“U.S. L/C Participation Fee”) calculated on such Lender’s U.S. Revolving Pro Rata Percentage of the
daily aggregate U.S. L/C Exposure (in each case excluding the portion thereof attributable to
unreimbursed L/C Disbursements in respect of Letters of Credit) during the preceding quarter (or
shorter period commencing with the Effective Date or ending with the Maturity Date or the date on
which all Letters of Credit have been canceled or have expired and the Revolving Commitments of all
Revolving Lenders shall have been terminated) at a rate equal to the Applicable Percentage from
time to time used to determine the interest rate on Borrowings comprised of Eurocurrency Loans
pursuant to Section 2.06. Each Canadian Borrower agrees to pay, jointly and severally, to each
Canadian Revolving Lender, through the Canadian Administrative Agent, on the last Business Day of
March, June, September and December of each year, commencing with the first such date to occur
after the Effective Date, and on the date on which the Canadian Revolving Commitment of such
Revolving Lender

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shall be terminated as provided herein, a fee (the “Canadian L/C Participation Fee”; together
with the U.S. L/C Participation Fee, the “L/C Participation Fee”) calculated on such Lender’s
Canadian Revolving Pro Rata Percentage of the daily aggregate Canadian L/C Exposure (in each case
excluding the portion thereof attributable to unreimbursed L/C Disbursements in respect of Letters
of Credit) during the preceding quarter (or shorter period commencing with the Effective Date or
ending with the Maturity Date or the date on which all Letters of Credit have been canceled or have
expired and the Revolving Commitments of all Revolving Lenders shall have been terminated) at a
rate equal to the Applicable Percentage from time to time used to determine the interest rate on
Borrowings comprised of Eurocurrency Loans pursuant to Section 2.06. Each Borrower agrees to pay
to the Applicable Issuing Bank with respect to each Letter of Credit issued at the request of such
Borrower, (A) a fronting fee for each Letter of Credit equal to the greater of (1) 0.125% of the
initial stated amount of such Letter of Credit and (2) $600 (or, with respect to any subsequent
increase to the stated amount of any such Letter of Credit, such increase in the stated amount)
thereof, such fee to be payable on the date of such issuance, increase or extension and (B)
issuance, payment, amendment and transfer fees specified from time to time by such Issuing Bank
(collectively, the “Issuing Bank Fees”). All U.S. L/C Participation Fees and, unless otherwise
agreed by the Applicable Issuing Bank, Issuing Bank Fees, shall be computed on the basis of the
actual number of days elapsed in a year of 360 days. All Canadian L/C Participation Fees shall be
computed on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the
case may be.

     (d) The U.S. Borrower agrees to pay to each Lender, through the Administrative Agent, on the
Effective Date a ticking fee calculated on such Lender’s U.S. Commitments and Canadian Commitments
at a rate equal to 0.50% per annum for the period from and including December 28, 2010 until the
Effective Date.

     (e) All Fees shall be paid on the dates due, in immediately available U.S. dollars (except
with respect to L/C Participation Fees and Issuing Bank Fees in respect of Canadian Letters of
Credit, each of which shall be payable in immediately available Canadian dollars), to the
Applicable Administrative Agent for distribution, if and as appropriate, among the Revolving
Lenders, except that the Issuing Bank Fees shall be paid directly to the Applicable Issuing Bank.
Once paid, absent manifest error, none of the Fees shall be refundable under any circumstances.

     SECTION 2.06 Interest on Loans. (a) Subject to the provisions of Section 9.09, the Loans
comprising each ABR Borrowing shall bear interest (computed on the basis of the actual number of
days elapsed over a year of 365 or 366 days, as the case may be, when the Alternate Base Rate is
determined by reference to the Prime Rate and over a year of 360 days at all other times and
calculated from and including the date of such Borrowing to but excluding the date of repayment
thereof) at a rate per annum equal to the Alternate Base Rate plus the Applicable Percentage in
respect of ABR Loans in effect from time to time.

     (b) Subject to the provisions of Section 9.09, the Loans comprising each Eurocurrency
Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a
year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in
effect for such Borrowing plus the Applicable Percentage in respect of Eurocurrency Loans in effect
from time to time.

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     (c) Subject to the provisions of Section 9.09, the Loans comprising each Canadian Prime Rate
Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a
year of 365 or 366 days, as the case may be, and calculated from and including the date of such
Borrowing to but excluding the date of repayment thereof) at a rate per annum equal to the Canadian
Prime Rate plus the Applicable Percentage in respect of the Canadian Prime Rate Loans in effect
from time to time.

     (d) Subject to the provisions of Section 9.09, the Loans comprising each B/A Borrowing shall
be subject to an Acceptance Fee, payable by the applicable Canadian Borrower on the date of
acceptance of the relevant B/A and calculated as set forth in the definition of the term
“Acceptance Fee” in Section 1.01.

     (e) Subject to the provisions of Section 9.09, the Loans comprising each U.S. Base Rate
Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a
year of 365 or 366 days, as the case may be, and calculated from and including the date of such
Borrowing to but excluding the date of repayment thereof) at a rate per annum equal to the U.S.
Base Rate plus the Applicable Percentage in respect of U.S. Base Rate Loans in effect from time to
time.

     (f) Subject to the provisions of Section 9.09, each U.S. Swing Line Loan shall bear interest
(computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the
case may be, when the Alternate Base Rate is determined by reference to the Prime Rate and over a
year of 360 days at all other times and calculated from and including the date of such Borrowing to
but excluding the date of repayment thereof) at a rate per annum equal to the Alternate Base Rate
plus the Applicable Percentage in respect of ABR Loans in effect from time to time.

     (g) Subject to the provisions of Section 9.09, each Canadian Swing Line Loan shall bear
interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366
days, as the case may be, when the Alternate Base Rate is determined by reference to the Prime Rate
and over a year of 360 days at all other times and calculated from and including the date of such
Borrowing to but excluding the date of repayment thereof) at a rate per annum equal to (i) if such
Canadian Swing Line Loan is denominated in Canadian dollars, the Canadian Prime Rate plus the
Applicable Percentage in respect of the Canadian Prime Rate Loans in effect from time to time and
(ii) if such Canadian Swing Line Loan is denominated in U.S. dollars, the U.S. Base Rate plus the
Applicable Percentage in respect of U.S. Base Rate Loans in effect from time to time.

     (h) Interest on each Loan shall be payable to the Applicable Administrative Agent on the
Interest Payment Dates applicable to such Loan except as otherwise provided in this Agreement. The
applicable Alternate Base Rate, Adjusted LIBO Rate, Canadian Prime Rate, U.S. Base Rate, B/A
Discount Rate, and Acceptance Fee shall be determined by the Applicable Administrative Agent, and
such determination shall be conclusive absent manifest error.

     (i) For the purposes of the Interest Act (Canada) and disclosure thereunder, whenever any
interest or fee to be paid hereunder or in connection herewith is to be calculated on the basis of
any period of time that is less than a calendar year, the yearly rate of interest to which the rate

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used in such calculation is equivalent is the rate so used multiplied by the actual number of
days in the calendar year in which the same is to be ascertained and divided by 360, 365 or 366, as
applicable. The rates of interest under this Agreement are nominal rates, and not effective rates
or yields. The principle of deemed reinvestment of interest does not apply to any interest
calculation under this Agreement.

     SECTION 2.07 Default Interest. If a Borrower shall default in the payment of the principal of
or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise,
or under any other Loan Document, such Borrower shall on demand from time to time pay interest, to
the extent permitted by law, on such defaulted amount to but excluding the date of actual payment
(after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise
applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum (subject to Section 9.09) and
(b) in all other cases, at a rate per annum (computed on the basis of the actual number of days
elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the
Prime Rate or the Canadian Prime Rate and over a year of 360 days at all other times) equal to the
rate that would be applicable to an ABR Loan (or a Canadian Prime Rate Loan, in the case of the
Canadian Borrower) plus 2.00% (subject to Section 9.09).

     SECTION 2.08 Alternate Rate of Interest. In the event, and on each occasion, that (a) on the
day two Business Days prior to the commencement of any Interest Period for a Eurocurrency Borrowing
the Administrative Agent is unable to determine the Adjusted LIBO Rate for Eurocurrency Loans
comprising any requested Borrowing, or (b) if the Applicable Required Lenders shall, by 11:00 a.m.
(Standard Time) at least one (1) Business Day before the date of any requested Borrowing, notify
the Administrative Agent that the Adjusted LIBO Rate for Eurocurrency Loans comprising such
Borrowing will not adequately and fairly reflect the cost to any Lender of making or maintaining
its Eurocurrency Loan during such Interest Period, then the Administrative Agent shall, as soon as
practicable thereafter, give written, fax or electronic communication (e-mail) (or telephone notice
promptly confirmed by a written, fax or electronic communication (e-mail)) notice of such
determination to the Borrowers and the Lenders. In the event of any such determination, until the
Administrative Agent shall have advised the Borrowers and the Lenders that the circumstances giving
rise to such notice no longer exist, any request by a Borrower for a Eurocurrency Borrowing
pursuant to Section 2.03 or 2.10 shall be deemed to be a request for an ABR Borrowing (or, in the
case of a request by a Canadian Borrower, a U.S. Base Rate Borrowing). Each determination by the
Administrative Agent hereunder shall be conclusive absent manifest error.

     SECTION 2.09 Termination and Reduction of Commitments. (a) The Revolving Commitments and the
L/C Commitments shall automatically terminate on the Maturity Date.

     (b) The Term Commitments shall automatically terminate on the Effective Date immediately
following the making of the U.S. Term Loan and Canadian Term Loans on such date.

     (c) Upon at least three Business Days’ prior irrevocable written, fax or electronic
communication (e-mail) (or by telephone notice promptly confirmed by a written, fax or electronic
communication (e-mail)) notice to the Applicable Administrative Agent, the U.S.

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Borrower or a Canadian Borrower, as the case may be, may at any time in whole permanently
terminate, or from time to time in part permanently reduce, any Class of Commitments; provided,
however, that each partial reduction of any Class of Commitments shall be in an integral multiple
of U.S.$1,000,000, or C$1,000,000, as the case may be.

     (d) Each reduction in any Class of Commitments hereunder shall be made ratably among the
Lenders in accordance with their respective Commitments of such Class. The applicable Borrower
shall pay to the Applicable Administrative Agent for the account of the applicable Lenders, on the
date of each termination or reduction, the Commitment Fees on the amount of the Commitments so
terminated or reduced accrued to but excluding the date of such termination or reduction.

     SECTION 2.10 Conversion and Continuation of Borrowings. The Borrowers shall have the right at
any time upon prior irrevocable notice to the Applicable Administrative Agent (a) not later than
1:00 p.m. (Standard Time) on the day of the proposed conversion, to convert any Eurocurrency
Borrowing into an ABR Borrowing under the Commitments, (b) not later than 3:00 p.m. (Standard Time)
one Business Day before the proposed conversion to convert any U.S. Base Rate Borrowing under the
Canadian Commitments or to convert any B/A Borrowing into a Canadian Prime Rate Borrowing, (c) not
later than 3:00 p.m. (Standard Time) three Business Days prior to conversion or continuation, to
convert any ABR Borrowing or U.S. Base Rate Borrowing into a Eurocurrency Borrowing or to continue
any Eurocurrency Borrowing as a Eurocurrency Borrowing for an additional Interest Period, (d) not
later than 3:00 p.m. (Standard Time) three Business Days prior to conversion, to convert the
Interest Period with respect to any Eurocurrency Borrowing to another permissible Interest Period
and (e) not later than 1:00 p.m. (Standard Time) three Business Days prior to conversion or
continuation, to convert any Canadian Prime Rate Borrowing to a B/A Borrowing or to continue any
B/A Borrowing as a B/A Borrowing for an additional Contract Period, subject in each case to the
following:

     (i) each conversion or continuation shall be made pro rata among the Lenders in
accordance with the respective principal amounts of the Loans comprising the converted or
continued Borrowing;

     (ii) if less than all the outstanding principal amount of any Borrowing shall be
converted or continued, then each resulting Borrowing shall satisfy the limitations
specified in Sections 2.02(a) and 2.02(b) and, if applicable, Section 2.22, regarding the
principal amount and maximum number of Borrowings of the relevant Type;

     (iii) each conversion shall be effected by each Lender and the Applicable
Administrative Agent by recording for the account of such Lender the new Type and/or
Interest Period or Contract Period for such Borrowing resulting from such conversion;
accrued interest on any Eurocurrency Loan (or portion thereof) being converted shall be paid
by the Applicable Borrower at the time of conversion;

     (iv) if any Eurocurrency Borrowing or B/A Borrowing is converted at a time other than
the end of the Interest Period applicable thereto, the Applicable Borrower shall pay, upon
demand, any amounts due to the Lenders pursuant to Section 2.15;

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     (v) any portion of a Borrowing maturing or required to be repaid in less than one month
may not be converted into or continued as a Eurocurrency Borrowing or a B/A Borrowing;

     (vi) any portion of a Eurocurrency Borrowing or a B/A Borrowing that cannot be
converted into or continued as a Eurocurrency Borrowing or a B/A Borrowing by reason of the
immediately preceding clause shall be automatically converted at the end of the Interest
Period or Contract Period in effect for such Borrowing into an ABR Borrowing, a U.S. Base
Rate Borrowing or a Canadian Prime Rate Borrowing, as the case may be;

     (vii) upon notice to the Borrowers from the Administrative Agent given at the request
of the Applicable Required Lenders after the occurrence and during the continuance of a
Default or Event of Default, no outstanding Loan may be converted into, or continued as, a
Eurocurrency Loan or a B/A Loan, respectively; and

     (viii) notwithstanding anything to the contrary herein, a Swing Line Loan may not be
converted to a Eurocurrency Loan.

     Each notice pursuant to this Section 2.10 shall be irrevocable, shall be hand delivered, faxed
or sent by electronic communication (e-mail) (or by telephone notice promptly confirmed by a
written, fax or electronic communication (e-mail)) and shall refer to this Agreement and specify
(i) the identity and amount of the Borrowing that the Applicable Borrower requests be converted or
continued, (ii) whether such Borrowing is to be converted to or continued as a Eurocurrency
Borrowing, an ABR Borrowing, a B/A Borrowing, a U.S. Base Rate Borrowing or a Canadian Prime Rate
Borrowing, (iii) if such notice requests a conversion, the date of such conversion (which shall be
a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurocurrency
Borrowing or a B/A Borrowing, the Interest Period or Contract Period with respect thereto. If no
Interest Period or Contract Period is specified in any such notice with respect to any conversion
to or continuation as a Eurocurrency Borrowing or a B/A Borrowing, the Applicable Borrower shall be
deemed to have selected an Interest Period or Contract Period of one month’s or 30 days’, as the
case may be, duration. The Applicable Administrative Agent shall promptly advise the Applicable
Lenders of any notice given pursuant to this Section 2.10 and of each Lender’s portion of any
converted or continued Borrowing. If a Borrower shall not have given notice in accordance with
this Section 2.10 to continue any Eurocurrency or B/A Borrowing into a subsequent Interest Period
or Contract Period (and shall not otherwise have given notice in accordance with this Section 2.10
to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable
thereto (unless repaid pursuant to the terms hereof), automatically be converted into an ABR
Borrowing, a U.S. Base Rate Borrowing or a Canadian Prime Rate Borrowing, as applicable.

     SECTION 2.11 Optional Prepayment. (a) Each Borrower shall have the right at any time and from
time to time to prepay any Borrowing (other than Bankers’ Acceptances or B/A Equivalent Loans,
which may, however, be defeased as provided below), in whole or in part, upon written, fax or
electronic communication (e-mail) (or by telephone notice promptly confirmed by written, fax or
electronic communication (e-mail)) delivered to the Applicable Administrative Agent by (i) 3:00
p.m. (Standard Time) at least three Business Days prior to the

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date designated for such prepayment, in the case of any prepayment of a Eurocurrency
Borrowing, (ii) 1:00 p.m. (Standard Time) on the date designated for such prepayment in the case of
any prepayment of an ABR Borrowing under the U.S. Commitments, or (iii) 3:00 p.m. (Standard Time)
one Business Day prior to the date designated for such prepayment, in the case of an ABR Borrowing,
a U.S. Base Rate Borrowing or a Canadian Prime Rate Borrowing under the Canadian Commitments;
provided, however, that each partial prepayment shall be in an amount that is a minimum amount of
U.S.$500,000 or an integral multiple of U.S.$100,000 in excess thereof (or C$500,000 and C$100,000,
respectively, in the case of Borrowings denominated in Canadian dollars); and provided further that
the Canadian Borrowers may defease any B/A or B/A Equivalent Loan by depositing with the Canadian
Administrative Agent an amount that, together with interest accruing on such amount to the end of
the Contract Period for such B/A or B/A Equivalent Loan is sufficient to pay such maturing Bankers’
Acceptances or B/A Equivalent Loans when due. The Applicable Administrative Agent shall promptly
advise the Applicable Lenders of any notice given pursuant to this Section 2.11 and of each
Lender’s portion of such prepayment.

     (b) The U.S. Borrower may, upon notice to the U.S. Swing Line Lender (with a copy to the
Administrative Agent), at any time or from time to time, voluntarily prepay U.S. Swing Line Loans
in whole or in part without premium or penalty; provided that (A) such notice must be received by
the U.S. Swing Line Lender and the Administrative Agent not later than 1:00 p.m. (Standard Time) on
the date of the prepayment, and (B) any such prepayment shall be in a minimum principal amount of
$100,000.

     (c) Either Canadian Borrower may, upon notice to the Canadian Swing Line Lender (with a copy
to the Canadian Administrative Agent), at any time or from time to time, voluntarily prepay
Canadian Swing Line Loans in whole or in part without premium or penalty; provided that (A) such
notice must be received by the Canadian Swing Line Lender and the Canadian Administrative Agent not
later than 1:00 p.m. (Standard Time) on the date of the prepayment, and (B) any such prepayment
shall be in a minimum principal amount of $100,000.

     (d) Each notice of prepayment shall specify (i) the amount to be prepaid, (ii) the prepayment
date and (iii) the Class and Type of Loans to be repaid and shall commit the Applicable Borrower to
prepay such obligations by the amount specified therein on the date specified therein. All
prepayments pursuant to this Section 2.11 shall be subject to Section 2.15, but shall otherwise be
without premium or penalty. Each prepayment of outstanding U.S. Term Loans or Canadian Term Loans,
respectively, pursuant to this Section 2.11 shall be applied to the principal repayment
installments thereof in inverse order of maturity.

     SECTION 2.12 Mandatory Prepayments. In the event of any termination of all the U.S. Revolving
Commitments or Canadian Revolving Commitments, the Applicable Borrower shall, on the date of such
termination, repay or prepay all its outstanding U.S. Revolving Credit Loans or Canadian Revolving
Credit Loans, as applicable, and replace all outstanding Letters of Credit and/or deposit an amount
equal to the sum of the U.S. L/C Exposure or the Canadian L/C Exposure, as applicable, in cash in a
cash collateral account established with the U.S. Collateral Agent for the benefit of the U.S.
Secured Parties or the Canadian Collateral Agent for the benefit of the Canadian Secured Parties.
In the event of any partial reduction of the U.S. Revolving Commitments or the Canadian Revolving
Commitments,

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then (i) at or prior to the effective date of such reduction, the Applicable Administrative
Agent shall notify the Borrowers and the Lenders of the aggregate U.S. Revolving Credit Exposure or
the aggregate Canadian Revolving Credit Exposure, as the case may be, after giving effect thereto,
and (ii) if the aggregate U.S. Revolving Credit Exposure or the aggregate Canadian Revolving Credit
Exposure, as the case may be, would exceed the Total U.S. Revolving Commitment or Total Canadian
Revolving Commitment, respectively, after giving effect to such reduction, then the U.S. Borrower
or the Canadian Borrowers, as the case may be, shall, on the date of such reduction, repay or
prepay Revolving Borrowings (or defease B/A Borrowings as described in Section 2.11(a)) and/or
replace or cash collateralize outstanding Letters of Credit in an amount sufficient to eliminate
such excess. If on any Calculation Date, the aggregate U.S. Revolving Credit Exposure would exceed
the Total U.S. Revolving Commitment, then on the immediately succeeding Reset Date the U.S.
Borrower shall repay or prepay U.S. Revolving Borrowings and/or replace or cash collateralize
outstanding U.S. Letters of Credit in an amount sufficient to eliminate such excess. If on any
Calculation Date, the aggregate Canadian Revolving Credit Exposure would exceed the Total Canadian
Revolving Commitment, then on the immediately succeeding Reset Date the Canadian Borrowers shall
repay or prepay Canadian Revolving Borrowings (or defease B/A Borrowings as described in Section
2.11(a)) and/or replace or cash collateralize outstanding Canadian Letters of Credit in an amount
sufficient to eliminate such excess.

     SECTION 2.13 Increased Costs; Capital Requirements. (a) Notwithstanding any other provision
of this Agreement, if any Change in Law shall (i) impose, modify or deem applicable any reserve,
special deposit, compulsory loan, insurance charge or similar requirement against assets of,
deposits with or for the account of or credit extended or participated in by any Lender or Issuing
Bank (except any such reserve requirement which is reflected in the Adjusted LIBO Rate or B/A
Discount Rate), (ii) subject any Lender or the Issuing Bank to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or Swing
Line Loan, or any Eurodollar Loan or B/A Loan made by it, or change the basis of taxation of
payments to such Lender or the Issuing Bank in respect thereof (except for Indemnified Taxes or
Other Taxes covered by Section 2.19 and the imposition of, or any change in the rate of, any
Excluded Tax payable by such Lender or the Issuing Bank); or (iii) impose on any Lender or Issuing
Bank or the London interbank market or other relevant interbank market, any other condition, cost
or expense affecting this Agreement or Eurocurrency Loans or B/A Loans made by such Lender or any
Letter of Credit or participation therein, and the result of any of the foregoing shall be to
increase the cost to such Lender or Issuing Bank of making or maintaining any Eurocurrency Loan or
B/A Loan (or of maintaining its obligation to make any such Loan) or increase the cost to any
Lender or Issuing Bank of issuing or maintaining any Letter of Credit or purchasing or maintaining
a participation therein or to reduce the amount of any sum received or receivable by such Lender or
Issuing Bank hereunder (whether of principal, interest or otherwise), in each case, by an amount
deemed by such Lender or Issuing Bank (acting reasonably) to be material, then, the Applicable
Borrower will pay to such Lender or Issuing Bank, as the case may be, upon demand in accordance
with paragraph (c) below such additional amount or amounts as will compensate such Lender or
Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered.

     (b) If any Lender or Issuing Bank (acting reasonably) shall have determined that any Change in
Law affecting such Lender or Issuing Bank or any lending office of such Lender or

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such Lender’s or Issuing Bank’s holding company, if any, regarding capital requirements has or
would have the effect of reducing the rate of return on such Lender’s or Issuing Bank’s capital or
on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of
Credit or Swing Line Loans held by, such Lender pursuant hereto, or the Letters of Credit issued by
such Issuing Bank pursuant hereto, to a level below that which such Lender or Issuing Bank or such
Lender’s or Issuing Bank’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or
Issuing Bank’s holding company with respect to capital adequacy) by an amount deemed by such Lender
or Issuing Bank (acting reasonably) to be material, then from time to time in accordance with
paragraph (c) below the Applicable Borrower shall pay to such Lender or Issuing Bank, as the case
may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such
Lender’s or Issuing Bank’s holding company for any such reduction suffered.

     (c) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or Issuing Bank or its holding company, as applicable, as specified in
paragraph (a) or (b) above shall be delivered to the Applicable Borrower and shall be conclusive
absent manifest error. The Applicable Borrower shall pay such Lender or the Issuing Bank the
amount shown as due on any such certificate delivered by it within 10 days after its receipt of the
same.

     (d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation for any
increased costs or reduction in amounts received or receivable or reduction in return on capital
shall not constitute a waiver of such Lender’s or Issuing Bank’s right to demand such compensation;
provided that the Borrowers shall not be under any obligation to compensate any Lender or Issuing
Bank under paragraph (a) or (b) above with respect to increased costs or reductions with respect to
any period prior to the date that is 120 days prior to such request if such Lender or Issuing Bank
knew or could reasonably have been expected to know of the circumstances giving rise to such
increased costs or reductions and of the fact that such circumstances would result in a claim for
increased compensation by reason of such increased costs or reductions; provided further that the
foregoing limitation shall not apply to any increased costs or reductions arising out of the
retroactive application of any Change in Law within such 120 day period. The protection of this
Section shall be available to each Lender and Issuing Bank regardless of any possible contention of
the invalidity or inapplicability of the Change in Law that shall have occurred or been imposed.

     SECTION 2.14 Change in Legality. (a) Notwithstanding any other provision of this Agreement,
if any Change in Law shall make it unlawful for any Lender to make or maintain any Eurocurrency
Loan or to give effect to its obligations as contemplated hereby with respect to any Eurocurrency
Loan, then, by written notice to the Applicable Borrower and to the Applicable Administrative
Agent:

     (i) such Lender may declare that Eurocurrency Loans will not thereafter (for the
duration of such unlawfulness) be made by such Lender hereunder (or be continued for
additional Interest Periods and ABR Loans and U.S. Base Rate Loans will not thereafter (for
such duration) be converted into Eurocurrency Loans), whereupon any

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request for a Eurocurrency Borrowing (or to convert an ABR Borrowing to a Eurocurrency
Borrowing or to continue a Eurocurrency Borrowing for an additional Interest Period) shall,
as to such Lender only, be deemed a request for an ABR Loan or a U.S. Base Rate Loan (or a
request to continue an ABR Loan or a U.S. Base Rate Loan as such or to convert a
Eurocurrency Loan into an ABR Loan or a U.S. Base Rate Loan), unless such declaration shall
be subsequently withdrawn; and

     (ii) such Lender may require that all outstanding Eurocurrency Loans made by it be
converted to ABR Loans or U.S. Base Rate Loans, as the case may be, in which event all such
Eurocurrency Loans shall be automatically converted to ABR Loans or U.S. Base Rate Loans, as
the case may be, as of the effective date of such notice as provided in paragraph (b) below.

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and
prepayments of principal that would otherwise have been applied to repay the Eurocurrency Loans
that would have been made by such Lender or the converted Eurocurrency Loans of such Lender shall
instead be applied to repay the ABR Loans or U.S. Base Rate Loans made by such Lender in lieu of,
or resulting from the conversion of, such Eurocurrency Loans.

     (b) For purposes of this Section 2.14, a notice to the U.S. Borrower by any Lender shall be
effective as to each Eurocurrency Loan made by such Lender, if lawful, on the last day of the
Interest Period then applicable to such Eurocurrency Loan; in all other cases such notice shall be
effective on the date of receipt by such Borrower.

     SECTION 2.15 Breakage Costs. The Borrowers hereby severally indemnify each Lender against any
loss or expense that such Lender may sustain or incur as a consequence of (a) any event, other than
a default by such Lender in the performance of its obligations hereunder, which results in (i) such
Lender receiving or being deemed to receive any amount on account of the principal of any
Eurocurrency Loan prior to the end of the Interest Period in effect therefor, including, without
limitation, as a result of any prepayment, the acceleration of the maturity of the Obligations or
for any other reason, (ii) the conversion of any Eurocurrency Loan to an ABR Loan or U.S. Base Rate
Loans or the conversion of the Interest Period with respect to any Eurocurrency Loan, in each case
other than on the last day of the Interest Period in effect therefor, (iii) any Eurocurrency Loan
or B/A Loan to be made by such Lender (including any Eurocurrency Loan or B/A Loan to be made
pursuant to a conversion or continuation under Section 2.10 or 2.22, as applicable) not being made
after notice of such Loan shall have been given by a Borrower hereunder or (iv) other than with
respect to any Defaulting Lender, any assignment of a Eurocurrency Loan is made other than on the
last day of the Interest Period for such Loan as a result of a request by the Applicable Borrower
pursuant to Section 2.20 (any of the events referred to in this clause (a) being called a “Breakage
Event”) or (b) any default in the making of any payment or prepayment required to be made
hereunder. In the case of any Breakage Event, such loss shall include an amount equal to the
excess, as reasonably determined by such Lender, of (i) its cost of obtaining funds for the
Eurocurrency Loan or B/A Loan that is the subject of such Breakage Event for the period from the
date of such Breakage Event to the last day of the Interest Period or Contract Period in effect (or
that would have been in effect) for such Loan over (ii) the amount of interest likely to be
realized by such Lender in redeploying the funds released or not utilized by reason of such
Breakage Event for such period. A certificate of

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any Lender setting forth any amount or amounts which such Lender is entitled to receive
pursuant to this Section 2.15 shall be delivered to the Applicable Borrower and the Applicable
Administrative Agent and shall be conclusive absent manifest error. The Applicable Borrower shall
pay such Lender the amount shown as due on any such certificate delivered by it within 10 days
after its receipt of the same.

     SECTION 2.16 Pro Rata Treatment. (a) Except as required under Section 2.14, each Borrowing,
each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans,
each payment of the Commitment Fees, each reduction of the Commitments and each conversion of any
Borrowing to or continuation of any Borrowing as a Borrowing of any Type shall be allocated pro
rata among the Applicable Lenders in accordance with their Applicable Pro Rata Percentages.

     (b) Notwithstanding any other provision of this Agreement or the Security Documents but
subject to Section 2.24, it is the intent of the Secured Parties that each of the Secured Parties
shall share in the aggregate proceeds of the Collateral on a pro rata basis as provided in
paragraph (a) above. Accordingly, if the proceeds in respect of one class of Collateral (i.e.,
U.S. Collateral or Canadian Collateral) are insufficient to repay the Obligations intended to be
secured by such class of Collateral pursuant to the Security Documents, the Agents, shall, to the
extent they deem necessary, allocate and reallocate the proceeds of the Collateral to ensure that
each Secured Party receives its Applicable Pro Rata Percentages of the proceeds of all the
Collateral. If after giving effect to the allocations described in the preceding sentence any
Secured Party shall have received less than its Applicable Pro Rata Percentages of the aggregate
proceeds of all the Collateral, each Secured Party that received more than its Applicable Pro Rata
Percentages of the aggregate proceeds of all the Collateral agrees to deliver to the Agents, for
reallocation to the Secured Parties that received less than their Applicable Pro Rata Percentages
of the proceeds of all the Collateral, the excess of the aggregate amount received by such Secured
Party over the amount that would have been such Secured Party’s Applicable Pro Rata Percentages of
the proceeds of all the Collateral.

     SECTION 2.17 Sharing of Setoffs. (a) Each Canadian Lender agrees that if it shall, through
the exercise of a right of banker’s lien, setoff or counterclaim against a Borrower or any other
Loan Party, or pursuant to a secured claim or other security or interest arising from, or in lieu
of, such secured claim, received by such Canadian Lender under any applicable Insolvency Law or
otherwise, or by any other means, obtain payment (voluntary or involuntary) in respect of any
Canadian Loan as a result of which the unpaid portion of its Canadian Loans shall be
proportionately less than the unpaid portion of the Canadian Loans of any other Canadian Lender of
the same Class, it shall (i) notify the Applicable Administrative Agent of such fact and (ii) be
deemed simultaneously to have purchased from such other Canadian Lender at face value, and shall
promptly pay to such other Canadian Lender the purchase price for, a participation in the Canadian
Loans of the same Class of such other Canadian Lender and, if applicable, subparticipations in
Canadian L/C Exposure and Canadian Swing Line Loans of such other Canadian Lender, or make such
other adjustments as shall be equitable, so that the aggregate unpaid amount of the Canadian Loans
and participations in Canadian Loans, Canadian L/C Exposure and Canadian Swing Line Loans held by
each Canadian Lender shall be in the same proportion to the aggregate unpaid amount of all Canadian
Loans, Canadian L/C Exposure and Canadian Swing Line Loans then outstanding of the same Class as
the amount of its

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Canadian Loans, Canadian L/C Exposure and Canadian Swing Line Loans prior to such exercise of
banker’s lien, setoff or counterclaim or other event was to the amount of all Canadian Loans,
Canadian L/C Exposure and Canadian Swing Line Loans outstanding prior to such exercise of banker’s
lien, setoff or counterclaim or other event; provided, however, that if any such purchase,
purchases, subparticipations or adjustments shall be made pursuant to this Section 2.17(a) and the
payment giving rise thereto shall thereafter be recovered, such purchase, purchases,
subparticipations or adjustments shall be rescinded to the extent of such recovery and the purchase
price or prices or adjustment restored without interest.

     (b) Each U.S. Lender agrees that if it shall, through the exercise of a right of banker’s
lien, setoff or counterclaim against a Borrower or any other Loan Party, or pursuant to a secured
claim or other security or interest arising from, or in lieu of, such secured claim, received by
such U.S. Lender under any applicable Insolvency Law or otherwise, or by any other means, obtain
payment (voluntary or involuntary) in respect of any U.S. Loan as a result of which the unpaid
portion of its U.S. Loans shall be proportionately less than the unpaid portion of the U.S. Loans
of any other U.S. Lender of the same Class, it shall (i) notify the Applicable Administrative Agent
of such fact and (ii) be deemed simultaneously to have purchased from such other U.S. Lender at
face value, and shall promptly pay to such other U.S. Lender the purchase price for, a
participation in the U.S. Loans of the same Class of such other U.S. Lenders and, if applicable,
subparticipations in the U.S. L/C Exposure and U.S. Swing Line Loans of such other U.S. Lenders, or
make such other adjustments as shall be equitable, so that the aggregate unpaid amount of the U.S.
Loans and participations in U.S. Loans, U.S. L/C Exposure and U.S. Swing Line Loans held by each
U.S. Lender shall be in the same proportion to the aggregate unpaid amount of all U.S. Loans, U.S.
L/C Exposure and U.S. Swing Line Loans then outstanding of the same Class as the amount of its U.S.
Loans, U.S. L/C Exposure and U.S. Swing Line Loans prior to such exercise of banker’s lien, setoff
or counterclaim or other event was to the amount of all U.S. Loans, U.S. L/C Exposure and U.S.
Swing Line Loans outstanding prior to such exercise of banker’s lien, setoff or counterclaim or
other event; provided, however, that if any such purchase, purchases, subparticipations or
adjustments shall be made pursuant to this Section 2.17(b) and the payment giving rise thereto
shall thereafter be recovered, such purchase, purchases, subparticipations or adjustments shall be
rescinded to the extent of such recovery and the purchase price or prices or adjustment restored
without interest.

     (c) The provisions of Section 2.17(a) and (b) shall not be construed to apply to (i) any
payment made by a Borrower pursuant to and in accordance with the express terms of this Agreement
or (ii) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or participations in L/C Exposure or Swing Line Loans to any
assignee or participant, other than to a Borrower or any Subsidiary thereof (as to which the
provisions of Section 2.17(a) and (b) shall apply).

     (d) Each Loan Party expressly consents to the arrangements set forth in Section 2.17(a) and
(b) above and agrees, to the extent it may effectively do so under applicable law, that
any Lender holding a participation in a Loan or L/C Exposure pursuant to the foregoing arrangements
may exercise against each Loan Party any and all rights of banker’s lien, setoff or counterclaim
with respect to such participation as fully as if such Lender were a direct creditor of each Loan
Party in the amount of such participation.

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     SECTION 2.18 Payments. (a) The Borrowers shall make each payment (including principal of or
interest on any Borrowing or any L/C Disbursement or any Fees or other amounts) hereunder and under
any other Loan Document not later than 4:00 p.m. (Standard Time) on the date when due in
immediately available U.S. dollars (or Canadian dollars, in the case of payments relating to
Commitments, Loans and Letters of Credit denominated in Canadian dollars), without setoff, defense
or counterclaim. Each such payment (other than Issuing Bank Fees, which shall be paid directly to
the Applicable Issuing Bank) shall be made to the office of the Applicable Administrative Agent
designated by such Applicable Administrative Agent. The Applicable Administrative Agent shall
promptly thereafter cause to be distributed like funds relating to the payment of principal,
interest or fees ratably (other than amounts payable solely to the Administrative Agent, the
Canadian Administrative Agent, a specific Issuing Bank, or a specific Lender pursuant to Section
2.05, 2.08, 2.13, 2.14, 2.15, 2.19, or 9.05, but after taking into account payments effected
pursuant to Section 9.05(a)) in accordance with each Lender’s Applicable Pro Rata Percentage
thereof, to the Lenders for the account of their respective applicable lending offices, and like
funds relating to the payment of any other amount payable to any Lender or Issuing Bank to such
Lender or Issuing Bank for the account of its applicable lending office, in each case to be applied
in accordance with the terms of this Agreement.

     (b) Except as otherwise expressly provided herein, whenever any payment (including principal
of or interest on any Borrowing or any Fees or other amounts) hereunder or under any other Loan
Document shall become due, or otherwise would occur, on a day that is not a Business Day, such
payment may be made on the next succeeding Business Day, and such extension of time shall in such
case be included in the computation of interest or Fees, if applicable.

     SECTION 2.19 Taxes. (a) Any and all payments by or on account of any obligation of the
Borrowers or any Loan Party hereunder or under any other Loan Document shall be made free and clear
of and without reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if
a Borrower or any Loan Party shall be required to deduct any Indemnified Taxes or Other Taxes from
such payments, then (i) the sum payable shall be increased as necessary so that, after making all
required deductions (including deductions applicable to additional sums payable under this
Section), such Agent, such Lender or Issuing Bank (as the case may be) receives an amount equal to
the sum it would have received had no such deductions been made, (ii) such Borrower or such Loan
Party shall make such deductions and (iii) such Borrower or such Loan Party shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law.

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

     (c) Each Borrower shall indemnify each Agent, Lender and Issuing Bank, within 10 days after
written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by such
Agent, Lender or Issuing Bank, as the case may be, on or with respect to any payment by or on
account of any obligation of such Borrower or any Loan Party hereunder or under any other Loan
Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) and any penalties, interest and

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reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Applicable
Borrower by a Lender or an Issuing Bank (with a copy to the Applicable Administrative Agent), or by
the Applicable Administrative Agent on its behalf or on behalf of a Lender or Issuing Bank, shall
be conclusive absent manifest error.

     (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Borrower
or any other Loan Party to a Governmental Authority, the applicable Loan Party shall deliver to the
Applicable Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or
other evidence of such payment reasonably satisfactory to the Applicable Administrative Agent.

     (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which the Applicable Borrower is resident for tax purposes, or
any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any
other Loan Document shall, if such payment otherwise would be subject to a withholding Tax, deliver
to the Applicable Borrower (with a copy to the Applicable Administrative Agent), at the time or
times prescribed by applicable law or reasonably requested by the Applicable Borrower or the
Administrative Agent, such properly completed and executed documentation prescribed by applicable
law as will permit such payments to be made without withholding or at a reduced rate. In addition,
any Lender, if requested by the Applicable Borrower or the Administrative Agent, shall deliver such
other documentation prescribed by applicable law or reasonably requested by the Applicable Borrower
or the Administrative Agent as will enable the Applicable Borrower or the Administrative Agent to
determine whether or not such Lender is subject to backup withholding or information reporting
requirements.

     (f) Without limiting the generality of the foregoing, in the event that a Borrower is resident
for tax purposes in the United States of America, any Foreign Lender shall deliver to such Borrower
and the Administrative Agent (in such number of copies as shall be requested by the recipient) on
or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from
time to time thereafter upon the request of such Borrower or the Administrative Agent, but only if
such Foreign Lender is legally entitled to do so), whichever of the following is applicable:

     (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility
for benefits of an income tax treaty to which the United States of America is a party,

     (ii) duly completed copies of Internal Revenue Service Form W-8ECI,

     (iii) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that
such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (B) a “10 percent shareholder” of the Applicable Borrower within the meaning of
section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in

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section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue
Service Form W-8BEN, or

     (iv) any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in United States Federal withholding tax duly completed together with such
supplementary documentation as may be prescribed by applicable law to permit the Applicable
Borrower to determine the withholding or deduction required to be made.

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

     (h) If a payment made to an Agent, Lender or Issuing Bank under this Agreement would be
subject to U.S. Federal withholding tax imposed by FATCA if such Agent, Lender or Issuing Bank
fails to comply with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Agent, Lender or Issuing Bank shall
deliver to the U.S. Borrower or the Administrative Agent, at the time or times prescribed by law
and at such time or times reasonably requested by the U.S. Borrower or the Administrative Agent,
such documentation prescribed by applicable law (including as prescribed by Section
1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the U.S.
Borrower or the Administrative Agent as may be necessary for the U.S. Borrower or the
Administrative Agent to comply with its obligations under FATCA, to determine that such Agent,
Lender or Issuing Bank has complied with its obligations under FATCA or to determine the amount to
deduct and withhold from any such payments.

     SECTION 2.20 Assignment of Commitments Under Certain Circumstances; Duty to Mitigate. (a) In
the event (i) any Lender or Issuing Bank delivers a certificate requesting compensation pursuant to
Section 2.13, (ii) any Lender or Issuing Bank delivers a notice described in Section 2.14, (iii) a
Borrower is required to pay any additional amount to any Lender or Issuing Bank or any Governmental
Authority on account of any Lender or Issuing Bank pursuant to Section 2.19, or (iv) any Lender
becomes a Defaulting Lender or a Potential Defaulting Lender, then the Applicable Borrower may, at
its sole expense and effort (including with respect to the processing and recordation fee referred
to in Section 9.04(b)), upon notice to such Lender or Issuing Bank and the Applicable
Administrative Agent, require such Lender or

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Issuing Bank to transfer and assign, without recourse (in accordance with and subject to the
restrictions contained in Section 9.04), all of its interests, rights and obligations under this
Agreement to an assignee that shall assume such assigned obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (A) such assignment shall not conflict
with any law, rule or regulation or order of any court or other Governmental Authority having
jurisdiction, (B) the Applicable Borrower shall have received the prior written consent of the
Applicable Administrative Agent and the Applicable Issuing Banks, which consent shall not
unreasonably be withheld or delayed, (C) the affected Lender or Issuing Bank shall have received in
immediately available funds an amount equal to the sum of the principal of and interest accrued to
the date of such payment on the outstanding Loans and participations in L/C Disbursements of such
Lender or Issuing Bank, respectively, plus all Fees and other amounts accrued for the account of
such Lender or Issuing Bank hereunder (including any amounts under Section 2.13 and Section 2.15)
from the assignee (to the extent of such outstanding principal and accrued interest and Fees) or
the Applicable Borrower (in the case of all other amounts) and (D) in the case of any such
assignment resulting from a claim for compensation under Section 2.13 or payments required to be
made pursuant to Section 2.19, such assignment is expected to result in a reduction in such
compensation or payments thereafter. A Lender or Issuing Bank shall not be required to make any
such assignment or delegation if, prior thereto, as a result of a waiver by such Lender, Issuing
Bank or otherwise, the circumstances entitling such Borrower to require such assignment and
delegation cease to apply.

     (b) If (i) any Lender or Issuing Bank shall request compensation under Section 2.13, (ii) any
Lender or Issuing Bank delivers a notice described in Section 2.14 or (iii) a Borrower is required
to pay any additional amount to any Agent, Lender or Issuing Bank or any Governmental Authority on
account of any Agent, Lender or Issuing Bank, pursuant to Section 2.19, then such Agent, Lender or
Issuing Bank shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(A) would eliminate or reduce its claims for compensation under Section 2.13 or enable it to
withdraw its notice pursuant to Section 2.14 or would reduce amounts payable pursuant to Section
2.19, as the case may be, in the future and (B) would not subject such Agent, Lender or Issuing
Bank to incur an unreimbursed loss or unreimbursed cost or expense or otherwise take any action
inconsistent with its internal policies or legal or regulatory restrictions. Each Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender or Issuing Bank in
connection with any such designation or assignment.

     SECTION 2.21 Letters of Credit.

     (a) General. Each Borrower may request the issuance of a Letter of Credit denominated in U.S.
dollars, Canadian dollars or in one or more Alternative Currencies for its own account or for the
account of any of its Subsidiaries (in which case such Borrower and such Subsidiary shall be
co-applicants with respect to such Letter of Credit), in a form reasonably acceptable to the
Applicable Issuing Bank, at any time and from time to time while the Revolving Commitments remain
in effect, but no later than five Business Days prior to the Maturity Date. This Section shall not
be construed to impose an obligation upon any Issuing

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Bank to issue any Letter of Credit that is inconsistent with the terms and conditions of this
Agreement.

     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. In order to
request the issuance of a Letter of Credit denominated in U.S. dollars, Canadian dollars or an
Alternative Currency (or to amend, renew or extend an existing Letter of Credit issued in U.S.
dollars, Canadian dollars or an Alternative Currency), the Applicable Borrower shall hand deliver,
fax or send by electronic communication (e-mail) (or by telephone notice promptly confirmed by a
written, fax or electronic communication (e-mail)) to the Applicable Issuing Bank and the
Applicable Administrative Agent (reasonably in advance of the requested date of issuance,
amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, renewed or extended, the date of issuance,
amendment, renewal or extension, the date on which such Letter of Credit is to expire (which shall
comply with paragraph (c) below), the amount and currency of such Letter of Credit, the name and
address of the beneficiary thereof and such other information as shall be necessary to prepare such
Letter of Credit. In order to request the issuance of a Letter of Credit in a currency other than
those specifically listed in the definition of “Alternative Currency”, the Applicable Borrower
shall follow the procedures set forth in Section 1.06 hereof. A U.S. Letter of Credit shall be
issued, amended, renewed or extended only if, and upon issuance, amendment, renewal or extension of
each Letter of Credit the U.S. Borrower shall be deemed to represent and warrant that, after giving
effect to such issuance, amendment, renewal or extension (i) the U.S. L/C Exposure shall not exceed
U.S.$100,000,000, (ii) the aggregate U.S. Revolving Credit Exposure shall not exceed the Total U.S.
Revolving Commitment, and (iv) the U.S. L/C Exposure related to U.S. Letters of Credit issued by an
Issuing Bank shall not exceed an amount agreed to in writing between the U.S. Borrower and such
Issuing Bank and notified to the Administrative Agent. A Canadian Letter of Credit shall be
issued, amended, renewed or extended only if, and upon issuance, amendment, renewal or extension of
each Canadian Letter of Credit, such Canadian Borrower shall be deemed to represent and warrant
that after giving effect to such issuance, amendment, renewal or extension (i) the Canadian L/C
Exposure shall not exceed the Canadian Dollar Equivalent of U.S.$10,000,000, and (ii) the aggregate
Canadian Revolving Credit Exposure shall not exceed the Total Canadian Revolving Commitment.

     (c) Expiration Date. Each Letter of Credit shall have an expiration date not later than the
earlier of (y) three years after the date of the issuance of such Letter of Credit and (z) the date
that is 24 months after the Maturity Date; provided that 60 days prior to the Maturity Date the
Borrowers shall deposit in an account with the U.S. Collateral Agent or the Canadian Collateral
Agent, as the case may be, for the benefit of the U.S. Revolving Lenders or Canadian Revolving
Lenders, as the case may be, an amount in cash equal to 105% of the U.S. L/C Exposure or the
Canadian L/C Exposure, respectively, as of such date. Such deposit shall be held by the U.S.
Collateral Agent or the Canadian Collateral Agent, as the case may be, as collateral for the
payment and performance of the Obligations. Such Collateral Agent shall have exclusive dominion
and control, including the exclusive right of withdrawal, over such account. Other than any
interest earned on the investment of such deposits in Permitted Investments, which investments
shall be made at the option and sole discretion of such Collateral Agent, such deposits shall not
bear interest. Interest or profits, if any, on such investments shall accumulate in such account.
The Applicable Administrative Agent may, at any time and from time to time after the initial
deposit of such Cash Collateral, request that additional Cash Collateral be

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provided in order to protect against the results of exchange rate fluctuations. Moneys in
such account shall (i) automatically be applied by the Applicable Administrative Agent to reimburse
the Applicable Issuing Bank for L/C Disbursements for which it has not been reimbursed, (ii) be
held for the satisfaction of the reimbursement obligations of the Applicable Borrower for the U.S.
L/C Exposure or the Canadian L/C Exposure, as applicable, at such time, (iii) if the maturity of
the Loans has been accelerated, be applied to satisfy the Obligations and (iv) provided that no
Event of Default has occurred and is continuing, be released to the Borrowers to the extent that
the funds on deposit exceed 105% of the U.S. L/C Exposure or the Canadian L/C Exposure,
respectively.

     (d) Participations. By the issuance of a Letter of Credit and without any further action on
the part of an Issuing Bank or the Lenders, the Applicable Issuing Bank hereby grants to each U.S.
Revolving Lender or Canadian Revolving Lender, as the case may be, and each such Revolving Lender
hereby acquires from the Applicable Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s U.S. Revolving Pro Rata Percentage or Canadian Revolving Pro Rata Percentage, as
applicable, of the aggregate amount available to be drawn under such Letter of Credit, effective
upon the issuance of such Letter of Credit (or, in the case of the Rolled Letters of Credit,
effective upon the Effective Date). In consideration and in furtherance of the foregoing, each
Revolving Lender hereby absolutely and unconditionally agrees to pay to the Applicable
Administrative Agent, for the account of the Applicable Issuing Bank, such Lender’s U.S. Revolving
Pro Rata Percentage or Canadian Revolving Pro Rata Percentage, as applicable, of the U.S. Dollar
Equivalent of each L/C Disbursement (unless such Letter of Credit is a Canadian Letter of Credit
denominated in Canadian dollars in which case such payment shall be made in Canadian dollars), made
by such Issuing Bank and not reimbursed by the Applicable Borrower (or, if applicable, another
party pursuant to its obligations under any other Loan Document) forthwith on the date due as
provided in Section 2.02(g). Each Revolving Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including the occurrence
and continuance of a Default or an Event of Default, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever.

     (e) Reimbursement. If an Issuing Bank shall make any L/C Disbursement in respect of a Letter
of Credit, the Applicable Borrower shall pay to the Applicable Administrative Agent an amount equal
to such L/C Disbursement in the same currency in which such L/C Disbursement is denominated not
later than two hours after such Borrower shall have received notice from such Issuing Bank that
payment of such draft will be made, or, if such Borrower shall have received such notice later than
11:00 a.m. (Standard Time) on any Business Day, not later than 11:00 a.m. (Standard Time) on the
immediately following Business Day.

     (f) Obligations Absolute. Each Borrower’s obligations to reimburse L/C Disbursements as
provided in paragraph (e) above shall be absolute, unconditional and irrevocable, and shall be
performed strictly in accordance with the terms of this Agreement, under any and all circumstances
whatsoever, and irrespective of:

     (i) any lack of validity or enforceability of any Letter of Credit or any Loan
Document, or any term or provision therein;

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     (ii) any amendment or waiver of or any consent to departure from all or any of the
provisions of any Letter of Credit or any Loan Document;

     (iii) the existence of any claim, counterclaim, setoff, defense or other right that
such Borrower, any other party guaranteeing, or otherwise obligated with, such Borrower, any
Subsidiary or other Affiliate thereof or any other person may at any time have against the
beneficiary under any Letter of Credit, the Applicable Issuing Bank, any Agent or any Lender
or any other person, whether in connection with this Agreement, any other Loan Document or
any other related or unrelated agreement or transaction;

     (iv) any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise
of any document required in order to make a drawing under such Letter of Credit;

     (v) any payment by the Applicable Issuing Bank under a Letter of Credit against
presentation of a draft or other document that does not strictly comply with the terms of
such Letter of Credit; or any payment made by the Issuing Bank under such Letter of Credit
to any person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for
the benefit of creditors, liquidator, receiver or other representative of or successor to
any beneficiary or any transferee of such Letter of Credit, including any arising in
connection with any proceeding under any Insolvency Law; and

     (vi) any adverse change in the relevant exchange rates or in the availability of the
relevant Alternative Currency to any Borrower, any Subsidiary or any other person, or in the
relevant currency markets generally; or

     (vii) any other act or omission to act or delay of any kind of the Applicable Issuing
Bank, the Lenders, the Agents or any other person or any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the
provisions of this Section, constitute a legal or equitable discharge of such Borrower’s
obligations hereunder.

     Without limiting the generality of the foregoing but subject to the proviso in subsection (g)
below, it is expressly understood and agreed that the absolute and unconditional obligation of each
Borrower hereunder to reimburse L/C Disbursements will not be excused by the gross negligence or
willful misconduct of the Applicable Issuing Bank.

     (g) Role of Issuing Bank. Each Borrower assumes all risks of the acts or omissions of any
beneficiary or transferee of any Letter of Credit with respect to its use of such Letter of Credit.
None of the Issuing Banks, the Agents, any of their respective Related Parties or any
correspondent, participant or assignee of the Issuing Bank shall be liable or responsible for:

     (i) the use which may be made of any Letter of Credit or any acts or omissions of any
beneficiary or transferee in connection therewith;

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     (ii) the validity, sufficiency or genuineness of documents, or of any endorsement
thereon, even if such documents should prove to be in any or all respects invalid,
insufficient, fraudulent or forged; or

     (iii) any other circumstances whatsoever in making or failing to make payment under any
Letter of Credit (including the Issuing Bank’s own negligence),

provided, however, that a Borrower shall have a claim against the Issuing Bank, and the Issuing
Bank shall be liable to, and shall promptly pay to, such Borrower, to the extent of any direct, as
opposed to consequential (claims in respect of which are hereby waived by such Borrower to the
extent permitted by applicable law), damages suffered by such Borrower that are caused by such
Issuing Bank’s failure to comply with its duties as an issuing bank under applicable law or gross
negligence or willful misconduct in determining whether drafts and other documents presented under
a Letter of Credit strictly comply with the terms thereof. It is understood that the Applicable
Issuing Bank may accept documents that appear on their face to be in order, without responsibility
for further investigation, regardless of any notice or information to the contrary and, in making
any payment under any Letter of Credit (i) such Issuing Bank’s exclusive reliance on the documents
presented to it under such Letter of Credit as to any and all matters set forth therein, including
reliance on the amount of any draft presented under such Letter of Credit, whether or not the
amount due to the beneficiary thereunder equals the amount of such draft and whether or not any
document presented pursuant to such Letter of Credit proves to be insufficient in any respect, if
such document on its face appears to be in order, and whether or not any other statement or any
other document presented pursuant to such Letter of Credit proves to be forged or invalid or any
statement therein proves to be inaccurate or untrue in any respect whatsoever and (ii) any
noncompliance in any immaterial respect of the documents presented under such Letter of Credit with
the terms thereof shall, in each case, be deemed not to constitute willful misconduct or gross
negligence of the Applicable Issuing Bank. Each Revolving Lender and each Borrower agree that, in
paying any drawing under a Letter of Credit, the Applicable Issuing Bank shall not have any
responsibility to obtain any document (other than any sight draft, certificates and documents
expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or
accuracy of any such document or the authority of the person executing or delivering any such
document.

     (h) Disbursement Procedures. The Applicable Issuing Bank shall, promptly following its
receipt thereof, examine all documents purporting to represent a demand for payment under a Letter
of Credit. The Applicable Issuing Bank shall as promptly as possible give telephonic notification,
confirmed by fax or by electronic communication (e-mail), to the Applicable Administrative Agent
and the Applicable Borrower of such demand for payment and whether the Applicable Issuing Bank has
made or will make an L/C Disbursement thereunder; provided that any failure to give or delay in
giving such notice shall not relieve the Applicable Borrower of its obligation to reimburse the
Applicable Issuing Bank and the Revolving Lenders with respect to any such L/C Disbursement. The
Applicable Administrative Agent shall promptly give each Applicable Lender notice thereof.

     (i) Interim Interest. If an Issuing Bank shall make any L/C Disbursement in respect of a
Letter of Credit, then, unless the Applicable Borrower shall reimburse such L/C Disbursement in
full on such date, the unpaid amount thereof shall bear interest for the account

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of the Applicable Issuing Bank, for each day from and including the date of such L/C
Disbursement, to but excluding the earlier of the date of payment by such Borrower or the date on
which interest shall commence to accrue thereon as provided in Section 2.02(e), at the rate per
annum that would apply to such amount if such amount were an ABR Loan or a Canadian Prime Rate
Loan, as the case may be.

     (j) Resignation or Removal of an Issuing Bank. An Issuing Bank may resign at any time by
giving 30 days’ prior written notice to the Applicable Administrative Agent, the Applicable Lenders
and the U.S. Borrower, and may be removed at any time by the U.S. Borrower by notice to such
Issuing Bank, the Applicable Administrative Agent and the Applicable Lenders. Subject to the next
succeeding paragraph, upon the acceptance of any appointment as an Issuing Bank hereunder by a
Lender that shall agree to serve as successor Issuing Bank, such successor shall succeed to and
become vested with all the interests, rights and obligations of the retiring Issuing Bank and the
retiring Issuing Bank shall be discharged from its obligations to issue additional Letters of
Credit hereunder. At the time such removal or resignation shall become effective, the Applicable
Borrower shall pay all accrued and unpaid Issuing Bank Fees pursuant to Section 2.05(c). The
acceptance of any appointment as an Issuing Bank hereunder by a successor Lender shall be evidenced
by an agreement entered into by such successor, in a form satisfactory to the Borrowers and the
Applicable Administrative Agent, and, from and after the effective date of such agreement, (i) such
successor Lender shall have all the rights and obligations of the previous Issuing Bank under this
Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents
to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing
Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the
resignation or removal of an Issuing Bank hereunder, the retiring Issuing Bank shall remain a party
hereto and shall continue to have all the rights and obligations of an Issuing Bank under this
Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such
resignation or removal, but shall not be required to issue additional Letters of Credit.

     (k) Cash Collateralization. If (i) any Event of Default shall occur and be continuing, other
than an event with respect to a Borrower described in Section 7.01(g) or (h) and a Borrower shall
receive notice from Applicable Administrative Agent or the Required U.S. Revolving Lenders or the
Required Canadian Revolving Lenders, as applicable, requesting that it deposit Cash Collateral and
specifying the amount to be deposited, or (ii) an Event of Default shall occur and be continuing
with respect to a Borrower described in Section 7.01(g) or (h) then such Borrower shall, on the
Business Day it receives the notice referenced in clause (i) above or immediately upon the
occurrence of the Event of Default referenced in clause (ii) above, deposit in an account with the
U.S. Collateral Agent or the Canadian Collateral Agent, as the case may be, for the benefit of the
U.S. Revolving Lenders or Canadian Revolving Lenders, as the case may be, an amount in cash equal
to 105% of the U.S. L/C Exposure or the Canadian L/C Exposure, respectively, as of such date. At
any time that there shall exist a Defaulting Lender, after reallocation pursuant to Section
2.24(c), promptly upon the request of an Administrative Agent or an Issuing Bank (which request may
be condition to issuance amendment, renewal or extension of a Letter of Credit), the Applicable
Borrower shall deliver to the U.S. Collateral Agent or the Canadian Collateral Agent, as the case
may be, for the benefit of the U.S. Revolving Lenders or Canadian Revolving Lenders, as the case
may be, Cash Collateral in an amount equal to the Fronting Exposure at such time (determined for
the avoidance of doubt, after

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giving effect to Section 2.24(a) and any Cash Collateral provided by any Defaulting Lender).
Such deposits shall be held by the U.S. Collateral Agent or the Canadian Collateral Agent, as the
case may be, as collateral for the payment and performance of the Obligations. Such Collateral
Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over
such account. If a Borrower is required to Cash Collateralize the U.S. L/C Exposure, Canadian L/C
Exposure or Fronting Exposure pursuant to Section 2.22(c) or (k), then such Borrower and Collateral
Agent shall establish the L/C Cash Collateral Account and the Applicable Borrower shall execute any
documents and agreements that such Collateral Agent reasonably requests in connection therewith to
establish the L/C Cash Collateral Account and grant such Collateral Agent a first-priority security
interest in such account and the funds therein. Each Borrower hereby pledges to the Applicable
Collateral Agent and grants such Collateral Agent a security interest in the L/C Cash Collateral
Account, whenever established, all funds held in such L/C Cash Collateral Account from time to
time, and all proceeds thereof as security for the payment of the Obligations. Other than any
interest earned on the investment of such deposits in Permitted Investments, which investments
shall be made at the option and sole discretion of such Collateral Agent, such deposits shall not
bear interest. Interest or profits, if any, on such investments shall accumulate in such account.
The Applicable Administrative Agent may, at any time and from time to time after the initial
deposit of such Cash Collateral, request that additional Cash Collateral be provided in order to
protect against the results of exchange rate fluctuations. Moneys in such account shall (i)
automatically be applied by the Applicable Administrative Agent to reimburse the Applicable Issuing
Bank for L/C Disbursements for which it has not been reimbursed, (ii) be held for the satisfaction
of the reimbursement obligations of the Applicable Borrower for the U.S. L/C Exposure or the
Canadian L/C Exposure, as applicable, at such time and (iii) if the maturity of the Loans has been
accelerated, be applied to satisfy the Obligations. If a Borrower is required to provide an amount
of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to
the extent not applied as aforesaid) shall be returned to such Borrower within three Business Days
after all Events of Default have been cured or waived. Cash Collateral (or the appropriate portion
thereof) provided to reduce Fronting Exposure shall be released promptly following (A) the
elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including
by any Defaulting Lender ceasing to be a Defaulting Lender or ceasing to be a Revolving Lender) or
(B) the Administrative Agent’s good faith determination that there exists excess Cash Collateral;
provided, however, that Cash Collateral furnished by or on behalf of a Loan Party shall not be
released during the continuance of an Event of Default and may be otherwise applied in accordance
with Section 7.06.

     (l) Additional Issuing Banks. A Borrower may, at any time and from time to time with the
consent of the Applicable Administrative Agent (which consent shall not be unreasonably withheld or
delayed) and such Revolving Lender, designate one or more additional Lenders to act as an issuing
bank under the terms of this Agreement. The acceptance of any appointment as an Issuing Bank
hereunder by a Revolving Lender shall be evidenced by an agreement entered into by such Revolving
Lender, in a form satisfactory to the Borrowers and the Applicable Administrative Agent, and, from
and after the effective date of such agreement, any Lender designated as an issuing bank pursuant
to this paragraph (l) shall be deemed (in addition to being a Lender) to be the Issuing Bank with
respect to Letters of Credit issued or to be issued by such Lender, and all references herein and
in the other Loan Documents to the term

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“Issuing Bank” shall, with respect to such Letters of Credit, be deemed to refer to such
Lender in its capacity as Issuing Bank.

     (m) In the event of any conflict between the terms hereof and the terms of any Letter of
Credit Document, the terms hereof shall control.

     (n) Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of
any obligations of, or is for the account of, a Borrower or any Subsidiary of such Borrower, each
Borrower shall be obligated to reimburse the Applicable Issuing Bank hereunder for any and all L/C
Disbursements under such Letter of Credit requested by such Borrower for its own account or for the
account of any of its Subsidiaries. Each Borrower hereby acknowledges that the issuance of Letters
of Credit for the account of any of its Subsidiaries (other than, with respect to the U.S.
Borrower, a Canadian Borrower or any Subsidiary thereof) inures to the benefit of such Borrower,
and that such Borrower’s business derives substantial benefits from the businesses of such
Borrower’s Subsidiaries.

     (o) Each Issuing Bank, the Revolving Lenders and the Borrowers agree that effective as of the
Effective Date, the Rolled Letters of Credit shall be deemed to have been issued and maintained
under, and to be governed by the terms and conditions of, this Agreement.

     SECTION 2.22 Bankers’ Acceptances. (a) Subject to the terms and conditions of this Agreement,
each Canadian Borrower may request a Borrowing denominated in Canadian dollars by presenting drafts
for acceptance and, if applicable, purchase as B/As by the Canadian Lenders.

     (b) No Contract Period with respect to a B/A to be accepted and, if applicable, purchased as a
Loan shall extend beyond the Maturity Date. All B/A Loans shall be denominated in Canadian
dollars.

     (c) To facilitate availment of the B/A Loans, each Canadian Borrower hereby appoints each
Canadian Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile
or mechanical signature as and when deemed necessary by such Canadian Lender, blank forms of B/As
in the form requested by such Canadian Lender. Each Canadian Borrower recognizes and agrees that
all B/As signed and/or endorsed on its behalf by a Canadian Lender shall bind such Canadian
Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper
signing officers of such Canadian Borrower. Each Canadian Lender is hereby authorized to issue
such B/As endorsed in blank in such face amounts as may be determined by such Canadian Lender;
provided that the aggregate amount thereof is equal to the aggregate amount of B/As required to be
accepted and purchased by such Canadian Lender. No Canadian Lender shall be liable for any damage,
loss or other claim arising by reason of any loss or improper use of any such instrument except the
gross negligence or willful misconduct of such Canadian Lender or its officers, employees, agents
or representatives. Each Canadian Lender shall maintain a record with respect to B/As (i) voided
by it for any reason, (ii) accepted and purchased by it hereunder and (iii) canceled at their
respective maturities. Each Canadian Lender further agrees to retain such records in the manner
and for the statutory periods provided in the various provincial or federal statutes and
regulations which apply to such Canadian Lender. On request by or on behalf of the Canadian
Borrower, a Canadian Lender

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shall cancel all forms of B/A which have been pre-signed or pre-endorsed on behalf of a
Canadian Borrower and which are held by such Canadian Lender and are not required to be issued in
accordance with the Canadian Borrower’s irrevocable notice. At the discretion of a Lender,
Bankers’ Acceptances to be accepted by such Lender may be issued in the form of “Depository Bills”
within the meaning of the Depository Bills and Notes Act (Canada) and deposited with the Canadian
Depository for Securities Limited (“CDS”) and may be made payable to “CDS & Co.” or in such other
name as may be acceptable to CDS and thereafter dealt with in accordance with the rules and
procedures of CDS, consistent with the terms of this Agreement. All Depository Bills so issued
shall be governed by the provisions of this Section 2.22.

     (d) Drafts of a Canadian Borrower to be accepted as B/As hereunder shall be signed as set
forth in this Section 2.22. Notwithstanding that any person whose signature appears on any B/A may
no longer be an authorized signatory for any of the Canadian Lenders or the applicable Canadian
Borrower at the date of issuance of a B/A, such signature shall nevertheless be valid and
sufficient for all purposes as if such authority had remained in force at the time of such issuance
and any such B/A so signed shall be binding on such Canadian Borrower.

     (e) Promptly following receipt of a notice of borrowing, continuation or conversion of B/As,
the Canadian Administrative Agent shall so advise the Canadian Lenders and shall advise each
Canadian Lender of the aggregate face amount of the B/As to be accepted by it and the applicable
Contract Period (which shall be identical for all Canadian Lenders). The aggregate face amount of
the B/As to be accepted by a Canadian Lender shall be in an integral multiple of C$100,000 and such
face amount shall be in each Canadian Lender’s pro rata portion of such Canadian Borrowing;
provided, that the Canadian Administrative Agent may, in its sole discretion, increase or reduce
any Canadian Lender’s portion of such B/A to the nearest C$100,000.

     (f) The applicable Canadian Borrower may specify in a notice of borrowing or conversion or
continuation pursuant to Section 2.03 or Section 2.10, respectively, that it desires that any B/As
requested by such notice be purchased by the Canadian Lenders, in which case the Canadian Lenders
shall purchase, or arrange the purchase of, each B/A from such Canadian Borrower at the B/A
Discount Rate for such Canadian Lender applicable to such B/A accepted by it and provide to the
Canadian Administrative Agent the Discount Proceeds for the account of such Canadian Borrower. The
Acceptance Fee payable by such Canadian Borrower to a Canadian Lender under Section 2.06 in respect
of each B/A accepted by such Canadian Lender shall be set off against the Discount Proceeds payable
by such Canadian Lender under this Section 2.22.

     (g) Each Canadian Lender may at any time and from time to time hold, sell, rediscount or
otherwise dispose of any or all B/As accepted and purchased by it.

     (h) If a Canadian Lender notifies the Canadian Administrative Agent in writing that it is
unable to accept Bankers’ Acceptances, such Canadian Lender will, instead of accepting and, if
applicable, purchasing Bankers’ Acceptances, make an advance (a “B/A Equivalent Loan”) to the
applicable Canadian Borrower in the amount and for the same term as the draft that such Canadian
Lender would otherwise have been required to accept and purchase hereunder. Each

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such Canadian Lender will provide to the Canadian Administrative Agent the Discount Proceeds
of such B/A Equivalent Loan for the account of such Canadian Borrower. Each such B/A Equivalent
Loan will bear interest at the same rate that would result if such Lender had accepted (and been
paid an Acceptance Fee) and purchased (on a discounted basis at the B/A Discount Rate) a Bankers’
Acceptance for the relevant Contract Period (it being the intention of the parties that each such
B/A Equivalent Loan shall have the same economic consequences for the Lenders and the Canadian
Borrowers as the Bankers’ Acceptance which such B/A Equivalent Loan replaces). All such interest
shall be paid in advance on the date such B/A Equivalent Loan is made, and will be deducted from
the principal amount of such B/A Equivalent Loan in the same manner in which the Discount Proceeds
of a Bankers’ Acceptance would be deducted from the face amount of the Bankers’ Acceptance. Each
B/A Equivalent Loan shall be evidenced by a non-interest bearing promissory note of the Canadian
Borrower, denominated in Canadian Dollars, executed and delivered by the applicable Canadian
Borrower to such Canadian Lender, substantially in the form of Exhibit J.

     (i) Each Canadian Borrower waives presentment for payment and any other defense to payment of
any amounts due to a Canadian Lender in respect of a B/A accepted and purchased by it pursuant to
this Agreement which might exist solely by reason of such B/A being held, at the maturity thereof,
by such Canadian Lender in its own right and each Canadian Borrower agrees not to claim any days of
grace if such Canadian Lender as holder sues such Canadian Borrower on the B/A for payment of the
amount payable by such Canadian Borrower thereunder. On the last day of the Contract Period of a
B/A, or such earlier date as may be required or permitted pursuant to the provisions of this
Agreement, the applicable Canadian Borrower shall pay the Canadian Lender that has accepted and
purchased such B/A the full face amount of such B/A and after such payment, such Canadian Borrower
shall have no further liability in respect of such B/A and such Canadian Lender shall be entitled
to all benefits of, and be responsible for all payments due to third parties under, such B/A.

     (j) Except as required by any Canadian Lender upon the occurrence of an Event of Default, no
B/A Loan may be repaid by a Canadian Borrower prior to the expiry date of the Contract Period
applicable to such B/A Loan; provided, however, that any B/A Loan may be defeased as provided in
the proviso to Section 2.11(a).

     (k) With respect to any repayment of unmatured B/A’s pursuant to the proviso to Section
2.11(a) or otherwise hereunder, it is agreed that the applicable Canadian Borrower shall provide
for the funding in full of the unmatured B/A’s to be repaid by paying to and depositing with the
Canadian Administrative Agent Cash Collateral for each such unmatured B/A equal to the face amount
payable at maturity thereof. The Canadian Administrative Agent shall hold such Cash Collateral in
an interest bearing Cash Collateral account at rates prevailing at the time of deposit for similar
accounts with the Canadian Administrative Agent; such Cash Collateral, such Cash Collateral
account, any accounts receivable, claims, instruments or securities evidencing or relating to the
foregoing, and any proceeds of any of the foregoing (collectively, the “Outstanding BAs
Collateral”) shall be assigned to the Canadian Administrative Agent as security for the
obligations of the applicable Canadian Borrower in relation to such B/A’s and the security interest
of the Canadian Administrative Agent created in such Outstanding BAs Collateral shall rank in
priority to all other security interests and adverse claims against such Outstanding BAs
Collateral. Such Outstanding BAs Collateral shall be applied to satisfy the

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obligations of the applicable Canadian Borrower for such B/A’s as they mature and the Canadian
Administrative Agent is hereby irrevocably directed by the applicable Canadian Borrower to apply
any such Outstanding BAs Collateral to such maturing B/A’s. The Outstanding BAs Collateral created
herein shall not be released to the applicable Canadian Borrower prior to the maturity of the
applicable B/As without the consent of the Canadian Lenders; however, interest on such deposited
amounts shall be for the account of the applicable Canadian Borrower and may be withdrawn by the
applicable Canadian Borrower so long as no Default or Event of Default is then continuing. If,
after maturity of the B/A’s for which such Outstanding BAs Collateral is held and application by
the Canadian Administrative Agent of the Outstanding BAs Collateral to satisfy the obligations of
the applicable Canadian Borrower hereunder with respect to the B/A’s being repaid, any interest or
other proceeds of the Outstanding BAs Collateral remains, such interest or other proceeds shall be
promptly paid and transferred by the Canadian Administrative Agent to the applicable Canadian
Borrower so long as no Default or Event of Default is then continuing.

     SECTION 2.23 Swing Line Loans.

     (a) Generally.

     (i) The U.S. Swing Line. Subject to the terms and conditions set forth herein, and if
an AutoBorrow Agreement is in effect, subject to the terms and conditions of such AutoBorrow
Agreement, the U.S. Swing Line Lender may in its sole and absolute discretion, in reliance
upon the agreements of the other U.S. Revolving Lenders set forth in this Section 2.23, make
loans in U.S. Dollars (each such loan, a “U.S. Swing Line Loan”) to the U.S. Borrower from
time to time on or after the Effective Date until the earlier of the Maturity Date and the
termination of the Total U.S. Revolving Commitments in an aggregate amount not to exceed at
any time outstanding the amount of the U.S. Swing Line Sublimit, notwithstanding the fact
that such U.S. Swing Line Loans, when aggregated with the U.S. Revolving Credit Exposure of
the Lender acting as U.S. Swing Line Lender, may exceed the amount of such Lender’s U.S.
Revolving Commitment; provided, however, that after giving effect to any U.S. Swing Line
Loan, (i) the aggregate U.S. Revolving Credit Exposure of all U.S. Revolving Lenders shall
not exceed the Total U.S. Revolving Commitments at such time, and (ii) the U.S. Revolving
Credit Exposure of each U.S. Revolving Lender at such time shall not exceed such Lender’s
U.S. Revolving Commitment, and provided, further, that the U.S. Borrower shall not use the
proceeds of any U.S. Swing Line Loan to refinance any outstanding U.S. Swing Line Loan.
Within the foregoing limits, the U.S. Borrower may borrow under this Section 2.23(a), prepay
under Section 2.11, and reborrow under this Section 2.23(a). Immediately upon the making of
a U.S. Swing Line Loan, each U.S. Revolving Lender shall be deemed to, and hereby
irrevocably and unconditionally agrees to, purchase from the U.S. Swing Line Lender a risk
participation in such U.S. Swing Line Loan in an amount equal to the product of such U.S.
Revolving Lender’s U.S. Revolving Pro Rata Percentage times the amount of such U.S. Swing
Line Loan. Each U.S. Revolving Lender shall have the obligation to purchase and fund risk
participations in the U.S. Swing Line Loans and to refinance U.S. Swing Line Loans as
provided in this Agreement.

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     (ii) The Canadian Swing Line. Subject to the terms and conditions set forth herein, and
if an AutoBorrow Agreement is in effect, subject to the terms and conditions of such
AutoBorrow Agreement, the Canadian Swing Line Lender may in its sole and absolute
discretion, in reliance upon the agreements of the other Canadian Revolving Lenders set
forth in this Section 2.23, make loans in Canadian dollars or U.S. Dollars (each such loan,
a “Canadian Swing Line Loan”) to either Canadian Borrower from time to time on or after the
Effective Date until the earlier of the Maturity Date and the termination of the Total
Canadian Revolving Commitments in an aggregate amount not to exceed at any time outstanding
the amount of the Canadian Swing Line Sublimit, notwithstanding the fact that such Canadian
Swing Line Loans, when aggregated with the Canadian Revolving Credit Exposure of the Lender
acting as Canadian Swing Line Lender, may exceed the amount of such Lender’s Canadian
Revolving Commitment; provided, however, that after giving effect to any Canadian Swing Line
Loan, (i) the aggregate Canadian Revolving Credit Exposure of all Canadian Revolving Lenders
shall not exceed the Total Canadian Revolving Commitments at such time, and (ii) the
Canadian Revolving Credit Exposure of each Canadian Revolving Lender at such time shall not
exceed such Lender’s Canadian Revolving Commitment, and provided, further, that the Canadian
Borrower shall not use the proceeds of any Canadian Swing Line Loan to refinance any
outstanding Canadian Swing Line Loan. Within the foregoing limits, the Canadian Borrower
may borrow under this Section 2.23(a), prepay under Section 2.11, and reborrow under this
Section 2.23(a). Immediately upon the making of a Canadian Swing Line Loan, each Canadian
Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Canadian Swing Line Lender a risk participation in such Canadian Swing
Line Loan in an amount equal to the product of such Canadian Revolving Lender’s Canadian
Revolving Pro Rata Percentage times the amount of such Canadian Swing Line Loan. Each
Canadian Revolving Lender shall have the obligation to purchase and fund risk participations
in the Canadian Swing Line Loans and to refinance Canadian Swing Line Loans as provided in
this Agreement.

     (b) Borrowing Procedures. If an AutoBorrow Agreement is in effect, each Swing Line Borrowing
shall be made as provided in such AutoBorrow Agreement. Otherwise, in order to request a Swing
Line Borrowing, the Applicable Borrower shall hand deliver, fax or send by electronic communication
(e-mail) (or by telephone notice promptly confirmed by a written, fax or electronic communication
(e-mail)) to the Applicable Swing Line Lender and the Applicable Administrative Agent a duly
completed Borrowing Request not later than 2:00 p.m. (Standard Time) on the day of the proposed
Swing Line Borrowing. Each such Borrowing Request shall be irrevocable, shall be signed by or on
behalf of the Applicable Borrower and shall specify the following information: (i) the date of such
Swing Line Borrowing (which shall be a Business Day); and (ii) the amount of such Swing Line
Borrowing, which shall be a minimum of U.S.$100,000, except as otherwise set forth in any
AutoBorrow Agreement. Promptly after receipt by the Applicable Swing Line Lender of any Borrowing
Request, the Applicable Swing Line Lender will confirm with the Applicable Administrative Agent (by
telephone or in writing) that the Applicable Administrative Agent has also received such Borrowing
Request and, if not, the Applicable Swing Line Lender will notify the Applicable Administrative
Agent (by telephone or in writing) of the contents thereof. Unless the Applicable Swing Line
Lender has received notice (by telephone or in writing) from the Applicable Administrative Agent
(including at the request of any Applicable Lender) prior to 2:00 p.m. (Standard Time) on the date
of the

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proposed Swing Line Borrowing (A) directing the Applicable Swing Line Lender not to make such
Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence
of either Section 2.23(a)(i) or Section 2.23(a)(ii), or (B) that one or more of the applicable
conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions
hereof, the Applicable Swing Line Lender will, not later than 3:00 p.m. (Standard Time) on the
borrowing date specified in such Borrowing Request, make the amount of its Swing Line Loan
available to the Applicable Borrower at its office by crediting the account of the Applicable
Borrower on the books of the Applicable Swing Line Lender in immediately available funds. If an
AutoBorrow Agreement is in effect, such additional terms and conditions of such AutoBorrow
Agreement shall have been satisfied, and in the event that any of the terms of this Section 2.23
conflict with such AutoBorrow Agreement, the terms of the AutoBorrow Agreement shall govern and
control. No Applicable Lender shall have any rights or obligations under any AutoBorrow Agreement,
but each Applicable Lender shall have the obligation to purchase and fund risk participations in
the Swing Line Loans and to refinance Swing Line Loan as provided herein.

     (c) Refinancing of Swing Line Loans. (i) The Applicable Swing Line Lender at any time in its
sole and absolute discretion may request, on behalf of the Applicable Borrower (which hereby
irrevocably authorizes the Applicable Swing Line Lender to so request on its behalf), or the
Applicable Borrower at any time in its sole and absolute discretion may request, that each
Applicable Lender make (A) with respect to U.S. Swing Line Loans, an ABR Loan in an amount equal to
such Lender’s U.S. Revolving Pro Rata Percentage of the amount of U.S. Swing Line Loans then
outstanding and (B)(1) with respect to Canadian Swing Line Loans denominated in Canadian dollars, a
Canadian Prime Rate Loan or (2) with respect to Canadian Swing Line Loans denominated in U.S.
Dollars, a U.S. Base Rate Loan, in each case in an amount equal to such Lender’s Canadian Revolving
Pro Rata Percentage of the amount of Canadian Swing Line Loans then outstanding. Such request
shall be made in writing (which written request shall be deemed to be a Borrowing Request for
purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the
minimum and multiples specified therein for the principal amount of ABR Loans, Canadian Prime Rate
Loans or U.S. Base Rate Loans, as applicable, but subject to the unutilized portion of the Total
U.S. Revolving Commitments or Total Canadian Revolving Commitments, as applicable, and the
conditions set forth in Section 4.01. The Applicable Swing Line Lender or the Applicable Borrower,
as applicable, shall furnish to the other a copy of the applicable Borrowing Request promptly after
delivering such notice to the Applicable Administrative Agent. Each Applicable Lender shall make
an amount equal to its Applicable Pro Rata Percentage of the amount specified in such Borrowing
Request available to the Applicable Administrative Agent in immediately available funds for the
account of the Applicable Swing Line Lender at the office designated by the Applicable
Administrative Agent not later than 1:00 p.m. (Standard Time) on the day specified in such
Borrowing Request, whereupon, subject to Section 2.23(c)(ii), each Applicable Lender that so makes
funds available shall be deemed to have made a ABR Loan, Canadian Prime Rate Loan or U.S. Base Rate
Loan, as applicable, to the Applicable Borrower in such amount. The Applicable Administrative
Agent shall remit the funds so received to the Applicable Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a U.S.
Revolving Borrowing or a Canadian Revolving Borrowing, as applicable, in accordance with
Section 2.23(c)(i), the request for ABR Loans, Canadian Prime Rate

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Loans or U.S. Base Rate Loans, as applicable, submitted by the Applicable Swing Line
Lender or the Applicable Borrower as set forth herein shall be deemed to be a request by the
Applicable Swing Line Lender that each of the Applicable Lenders fund its risk participation
in the relevant Swing Line Loan and each Applicable Lender’s payment to the Applicable
Administrative Agent for the account of the Applicable Swing Line Lender pursuant to Section
2.23(c)(i) shall be deemed payment in respect of such participation.

     (iii) If any Applicable Lender fails to make available to the Applicable Administrative
Agent for the account of the Applicable Swing Line Lender any amount required to be paid by
such Lender pursuant to the foregoing provisions of this Section 2.23(c) by the time
specified in Section 2.23(c)(i), the Applicable Swing Line Lender shall be entitled to
recover from such Lender (acting through the Applicable Administrative Agent), on demand,
such amount with interest thereon for the period from the date such payment is required to
the date on which such payment is immediately available to the Applicable Swing Line Lender
at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by
the Applicable Swing Line Lender in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the
Applicable Swing Line Lender in connection with the foregoing. If such Lender pays such
amount (with interest and fees as aforesaid), the amount so paid shall constitute such
Lender’s Loan included in the relevant Borrowing or funded participation in the relevant
Swing Line Loan, as the case may be. A certificate of the Applicable Swing Line Lender
submitted to any Lender (through the Applicable Administrative Agent) with respect to any
amounts owing under this clause (iii) shall be presumed correct absent manifest error.

     (iv) Each Applicable Lender’s obligation to make Revolving Credit Loans or to purchase
and fund risk participations in Swing Line Loans pursuant to this Section 2.23(c) shall be
absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right which such Lender may have against
the Applicable Swing Line Lender, the Applicable Borrower or any other person for any reason
whatsoever, (B) the occurrence or continuance of a Default or an Event of Default, or (C)
any other occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each Applicable Lender’s obligation to make Revolving Credit Loans
pursuant to this Section 2.23(c) is subject to the conditions set forth in Section 4.01. No
such funding of risk participations shall relieve or otherwise impair the obligation of the
Applicable Borrower to repay Swing Line Loans, together with interest as provided herein.

     (d) Repayment of Participations. (i) At any time after any Applicable Lender has purchased
and funded a risk participation in a Swing Line Loan, if the Applicable Swing Line Lender receives
any payment on account of such Swing Line Loan, the Applicable Swing Line Lender will distribute to
such Applicable Lenders their Applicable Pro Rata Percentage thereof in the same funds as those
received by the Applicable Swing Line Lender.

     (ii) If any payment received by the Applicable Swing Line Lender in respect of
principal or interest on any Swing Line Loan is required to be returned by the

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Applicable Swing Line Lender under any of the circumstances described in Section 9.19
(including pursuant to any settlement entered into by the Applicable Swing Line Lender in
its discretion), each Applicable Lender shall pay to the Applicable Swing Line Lender its
Applicable Revolving Pro Rata Percentage thereof on demand of the Applicable Administrative
Agent, plus interest thereon from the date of such demand to the date such amount is
returned, at a rate per annum equal to the Federal Funds Rate. The Applicable
Administrative Agent will make such demand upon the request of the Applicable Swing Line
Lender. The obligations of the Lenders under this clause shall survive the payment in full
of the Obligations and the termination of this Agreement.

     (e) Interest for Account of Swing Line Lender. The Applicable Swing Line Lender shall be
responsible for invoicing the Applicable Borrower for interest on the Swing Line Loans. Until each
Applicable Lender funds its Loan or risk participation pursuant to this Section 2.23 to refinance
such Applicable Lender’s Applicable Revolving Pro Rata Percentage of any Swing Line Loan, interest
in respect of such Applicable Revolving Pro Rata Percentage shall be solely for the account of the
Applicable Swing Line Lender.

     (f) Payments Directly to Swing Line Lender. The Applicable Borrower shall make all payments
of principal and interest in respect of the Swing Line Loans directly to the Applicable Swing Line
Lender, and, if an AutoBorrow Agreement is in effect, in accordance with the terms of such
AutoBorrow Agreement.

     (g) Discretionary Nature of the Swing Line Facility. Notwithstanding any terms to the
contrary contained herein, the swing line facilities provided herein (i) are each an uncommitted
facility and the Swing Line Lenders may, but shall not be obligated to, make Swing Line Loans, and
(ii) may be terminated at any time by the Applicable Swing Line Lender or the Applicable Borrower
upon written notice by the terminating party to the non-terminating party.

     SECTION 2.24 Defaulting Lenders.

     (a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any
Revolving Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a
Defaulting Lender, to the extent permitted by applicable law:

     (i) such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement or any other Loan Document shall be restricted as set
forth in Section 9.08(b); and

     (ii) any payment of principal, interest, fees or other amounts received by the
Applicable Administrative Agent for the account of such Defaulting Lender (whether voluntary
or mandatory, at maturity, pursuant to Section 2.11 or 2.12, or otherwise, and including any
amounts made available to the Administrative Agent by such Defaulting Lender pursuant to
Section 9.05), shall be applied at such time or times as may be determined by the Applicable
Administrative Agent as follows:

     (A) first, to the payment of any amounts owing by such Defaulting Lender to the
Applicable Administrative Agent hereunder;

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     (B) second, to the payment on a pro rata basis of any amounts owing by such
Defaulting Lender to the Issuing Banks and the Swing Line Lenders hereunder;

     (C) third, if so determined by the Applicable Administrative Agent or requested
by an Applicable Issuing Bank or a Swing Line Lender, to be held as Cash Collateral
for future funding obligations of such Defaulting Lender of any participation in any
Letter of Credit or Swing Line Loan;

     (D) fourth, as the Applicable Borrower may request (so long as no Default or
Event of Default exists), to the funding of any Loan in respect of which such
Defaulting Lender has failed to fund its portion thereof as required by this
Agreement, as determined by the Applicable Administrative Agent;

     (E) fifth, if so determined by the Applicable Administrative Agent and the
Applicable Borrower, to be held in a non-interest bearing deposit account and
released in order to satisfy obligations of such Defaulting Lender to fund Loans
under this Agreement;

     (F) sixth, to the payment of any amounts owing to the Revolving Lenders, the
Applicable Issuing Bank or the Applicable Swing Line Lender as a result of any
judgment of a court of competent jurisdiction obtained by any Revolving Lender or an
Applicable Issuing Bank against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement;

     (G) seventh, so long as no Default or Event of Default exists, to the payment
of any amounts owing to the Applicable Borrower as a result of any judgment of a
court of competent jurisdiction obtained by the Applicable Borrower against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations
under this Agreement; and

     (H) eighth, to such Defaulting Lender or as otherwise directed by a court of
competent jurisdiction; provided that if (x) such payment is a payment of the
principal amount of any Revolving Loans or L/C Disbursements in respect of which
that Defaulting Lender has not fully funded its appropriate share and (y) in the
case of such Revolving Loans, such Revolving Loans were made at a time when the
conditions set forth in Section 4.01 were satisfied or waived, such payment shall be
applied solely to pay the Revolving Loans and L/C Disbursements of all
non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of
any Revolving Loans or L/C Disbursements of such Defaulting Lender.

Any payments, prepayments or other amounts paid or payable to any Defaulting Lender that are
applied (or held) to pay amounts owed by such Defaulting Lender or to post cash collateral
pursuant to this Section 2.24(a)(ii) shall be deemed paid to and redirected by such
Defaulting Lender, and each Lender irrevocably consents to the foregoing.

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     (b) Certain Fees. Such Defaulting Lender shall not be entitled to receive any Commitment Fee
pursuant to Section 2.05(a) or any L/C Participation Fee pursuant to Section 2.05(c) for any period
during which such Lender is a Defaulting Lender (and, except as otherwise provided in Section
2.05(a), the Applicable Borrower shall not be required to pay any such fee that otherwise would
have been required to have been paid to such Defaulting Lender).

     (c) Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which
there is a Defaulting Lender, solely for purposes of computing the amount of the obligation of each
non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing
Line Loans pursuant to Sections 2.21 and 2.23, the “U.S. Revolving Pro Rata Percentage” or
“Canadian Revolving Pro Rata Percentage”, as applicable, of each non-Defaulting Lender shall be
computed without giving effect to the Revolving Commitment of such Defaulting Lender; provided,
that (A) each such reallocation shall be given effect only if, at the date the applicable Lender
becomes a Defaulting Lender, no Default or Event of Default exists; and (B) the aggregate
obligation of any non-Defaulting Lender to acquire, refinance or fund participations in Letters of
Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving
Commitments of such non-Defaulting Lender minus (2) the aggregate Revolving Credit Loans of such
non-Defaulting Lender.

     (d) Defaulting Lender Cure. If the Applicable Borrower, the Applicable Administrative Agent
and the Applicable Issuing Banks agree in writing in their sole discretion that a Defaulting Lender
should no longer be deemed to be a Defaulting Lender, the Applicable Administrative Agent will so
notify the parties hereto, whereupon as of the effective date specified in such notice and subject
to any conditions set forth therein (which may include arrangements with respect to any cash
collateral), such Lender will, to the extent applicable, purchase that portion of outstanding
Revolving Credit Loans of the other Revolving Lenders of the same Class or take such other actions
as the Applicable Administrative Agent may determine to be necessary to cause the Revolving Credit
Loans and participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis
by the Revolving Lenders of the same Class in accordance with their “U.S. Revolving Pro Rata
Percentage” or “Canadian Revolving Pro Rata Percentage”, as applicable, (without giving effect to
clause (a)(ii) above), whereupon such Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of the Applicable Borrower while such Lender was a Defaulting Lender; and provided, further,
that except to the extent otherwise expressly agreed by the affected parties, no change hereunder
from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party
hereunder arising from that Lender’s having been a Defaulting Lender.

     (e) Termination of Defaulting Lender Revolving Commitment. A Borrower may terminate the
unused amount of the Revolving Commitment of a Defaulting Lender upon not less than three (3)
Business Days’ prior notice to the Applicable Administrative Agent (which will promptly notify the
Revolving Lenders of the same Class thereof), provided that such termination will not be deemed to
be a waiver or release of any claim a Borrower, an Administrative Agent, an Issuing Bank or any
Lender may have against such Defaulting Lender.

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ARTICLE III

Representations and Warranties

     Each Borrower represents and warrants (provided that, on the Effective Date, only the
Specified Representations shall be accurate as to MAC Group and its subsidiaries) to the Agents,
the Issuing Banks and each of the Lenders that:

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

     SECTION 3.02 Authorization. The execution, delivery and performance by each Loan Party of
each of the Loan Documents and the MAC Merger Instruments to which it is a party and the
consummation of the Transactions (i) have been (or will have been on or prior to the Effective
Date) duly authorized by all requisite organizational action on the part of such Loan Party and
(ii) do not and will not (x) violate (A) any provision of law, statute, rule or regulation, (B) the
terms of the organizational documents of any Loan Party, (C) any order, injunction, writ or decree
of any Governmental Authority or any binding and enforceable arbitral award to which such Loan
Party or its property is subject, or (D) any provision of any indenture or other instrument in
respect of any Material Indebtedness or other material agreement to which any Borrower or any
Subsidiary is a party or by which any of them or any of their property is or may be bound, (y) be
in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or
both) a default under, or give rise to any right to accelerate or to require the prepayment,
repurchase or redemption of any obligation under any such indenture or other instrument in respect
of Material Indebtedness or other material agreement or (z) result in the creation or imposition of
any Lien upon or with respect to any property or assets now owned or hereafter acquired by any
Borrower or any Subsidiary (other than any Lien created hereunder or under the Security Documents
and Liens associated with the MAC Trust Account).

     SECTION 3.03 Enforceability. This Agreement has been (or will have been on or prior to the
Effective Date) duly executed and delivered by the Borrowers and constitutes, and each other Loan
Document when executed and delivered by each Loan Party thereto will constitute, a legal, valid and
binding obligation of such Loan Party enforceable against such Loan Party in accordance with its
terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application (regardless of whether enforcement is sought in a proceeding in equity or at
law)).

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     SECTION 3.04 Governmental Approvals; MAC Merger. (a) No authorization, action, exemption,
consent or approval of, registration, notice or filing with or any other action by any Governmental
Authority is necessary or will be required in connection with the Loan Documents, the MAC Merger
Instruments and the consummation of the Transactions, except for (i) the filing of Uniform
Commercial Code financing statements, filing of financing statements under provincial personal
property security registries, and other filings necessary to perfect Liens created under the
Security Documents, (ii) those which will have been, or, in the case of filings relating to the
consummation of the MAC Merger, substantially contemporaneously with the initial funding of Loans
on the Effective Date will be, made or obtained and be in full force and effect on or prior to the
Effective Date and (iii) actions by, and notices to or filings with, Governmental Authorities
(including, without limitation, the SEC) that may be required in the ordinary course of business
from time to time or that may be required to comply with the express requirements of the Loan
Documents (including, without limitation, to release existing Liens on the Collateral or to comply
with requirements to perfect, and/or maintain the perfection of, Liens created under the Loan
Documents).

     (b) As of the Implementation Date, the MAC Merger has been consummated in accordance with the
MAC Merger Agreement and applicable law.

     SECTION 3.05 Financial Statements. The U.S. Borrower has heretofore furnished to the Lenders
(a) the audited consolidated balance sheets and related consolidated statements of income,
stockholders’ equity and comprehensive income and cash flows of the U.S. Borrower, as of and for
the year ended December 31, 2009, (b) the unaudited consolidated balance sheets and related
condensed statements of operations and cash flows of the U.S. Borrower as of and for the period
ended September 30, 2010 and (c) the audited consolidated statement of financial position and
related consolidated statements of income, change in equity, and cash flows of MAC Group, as of and
for the fiscal year ended June 30, 2010. Such (i) financial statements described in clauses (a)
and (b) above and (ii) to the knowledge of the U.S. Borrower as of the Effective Date, financial
statements described in (c) above, in each case present fairly, in all material respects, the
financial condition of the U.S. Borrower and its consolidated subsidiaries or MAC Group and its
subsidiaries, as the case may be, as of such dates and for such periods, subject, in the case of
the financial statements referred to clause (b), to the absence of footnotes and to normal year-end
audit adjustments. Such (A) financial statements described in clauses (a) and (b) above and the
notes thereto and (B) to the knowledge of the U.S. Borrower as of the Effective Date, financial
statements described in clause (c) above, disclose all material liabilities, direct or contingent,
of the U.S. Borrower and its consolidated subsidiaries or MAC Group and its subsidiaries, as the
case may be, as of the dates thereof. Such financial statements described in clauses (a) and (b)
above were prepared in accordance with GAAP, applied on a consistent basis, subject, in the case of
the financial statements referred to clause (b), to the absence of footnotes and to normal year-end
audit adjustments.

     SECTION 3.06 No Material Adverse Change. Since December 31, 2009, there has been no material
adverse effect on the business, assets, operations, condition (financial or otherwise) or prospects
of the Borrowers and the Subsidiaries, taken as a whole; provided that the sole representation and
warranty under this Section 3.06 made on the Effective Date with respect to the U.S. Borrower and
its Subsidiaries is that on the Effective Date the condition precedent set forth in Section 4.02(f)
has been satisfied.

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     SECTION 3.07 Title to Properties; Possession Under Leases. (a) Each of the Borrowers and the
Subsidiaries has good and indefeasible title to, or valid leasehold interests in, all its material
properties and assets, except for minor defects in title that do not interfere with its ability to
conduct its business as currently conducted or to utilize such properties and assets for their
intended purposes. All such material properties and assets are free and clear of Liens, other than
Liens expressly permitted by Section 6.02.

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

     SECTION 3.08 Subsidiaries. Schedule 3.08 sets forth as of the Effective Date and after giving
effect to the MAC Merger a list of all Subsidiaries and Special Purpose Business Entities and, as
to each such Subsidiary, the jurisdiction of formation, the outstanding Equity Interests therein
and the percentage ownership interest of each class of such Equity Interests owned by the U.S.
Borrower and its Subsidiaries therein. The Equity Interests indicated as owned (or to be owned) by
the U.S. Borrower and its Subsidiaries on Schedule 3.08 are owned by the Borrowers, directly or
indirectly, free and clear of all Liens (other than Liens permitted by Section 6.02).

     SECTION 3.09 Litigation; Compliance with Laws. (a) Except as set forth on Schedule 3.09,
there are no actions, suits, proceedings, claims or disputes at law, in equity, in arbitration, by
or before any Governmental Authority now pending or, to the knowledge of any Borrower, threatened
or contemplated against a Borrower or any Subsidiary or any business, property or rights of any
such person (i) that involve any Loan Document or any of the Transactions or (ii) as to which there
is a reasonable possibility of an adverse determination and that, if adversely determined, could
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

     (b) Since the date of this Agreement, there has been no adverse change in the status or
financial effect on the U.S. Borrower and the Subsidiaries of the matters disclosed on Schedule
3.09 that, individually or in the aggregate, has resulted in, or materially increased the
likelihood of, a Material Adverse Effect.

     (c) None of the Borrowers, any of the Subsidiaries or any of their respective material
properties or assets is in violation of, nor will the continued operation of their material
properties and assets as currently conducted violate, any law, rule or regulation (including any
zoning, building, Environmental Law, ordinance, code or approval or any building permits), or is in
default with respect to any judgment, writ, injunction, decree or order of any Governmental
Authority, in each case where such violation or default could, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect.

     SECTION 3.10 Agreements. No Borrower nor any of the Subsidiaries is in default in any manner
under any provision of any indenture or other agreement or instrument, where such default has
resulted in, or could, either individually or in the aggregate, reasonably be expected to result in
a Material Adverse Effect.

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     SECTION 3.11 Federal Reserve Regulations. (a) None of the Loan Parties is engaged
principally, or as one of its important activities, in the business of extending credit for the
purpose of buying or carrying Margin Stock.

     (b) No part of the proceeds of any Loan or any Letter of Credit will be used, whether directly
or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a
violation of, or that is inconsistent with, the provisions of the regulations of the Board,
including Regulations T, U or X.

     SECTION 3.12 Investment Company Act. Neither the U.S. Borrower nor any Subsidiary is or is
required to be registered as an “investment company” as defined in, or subject to regulation under,
the Investment Company Act of 1940.

     SECTION 3.13 Use of Proceeds. The Borrowers will use the proceeds of the Loans and will
request the issuance of Letters of Credit (a) to finance a portion of the purchase price for the
MAC Merger, to consummate the Refinancing Transactions and the refinancing of the Existing MAC
Group Credit Agreement and to pay a portion of the fees, commissions and expenses associated with
the Transactions and (b) to provide working capital and for other general corporate purposes of the
U.S. Borrower and its Subsidiaries.

     SECTION 3.14 Tax Returns. Each of the U.S. Borrower and the Subsidiaries has filed or caused
to be filed all federal, state, provincial, local and foreign Tax returns or materials required to
have been filed by it and has paid or caused to be paid all Taxes due and payable by it and all
assessments received by it, except Taxes that are being contested in good faith by appropriate
proceedings and for which the U.S. Borrower or such Subsidiary, as applicable, shall have set aside
on its books adequate reserves with respect thereto in accordance with GAAP or Canadian GAAP, as
the case may be. There is no proposed tax assessment against the U.S. Borrower or any Subsidiary
thereof that could reasonably be expected to have a Material Adverse Effect.

     SECTION 3.15 No Material Misstatements. None of (a) the Confidential Information Memorandum
or (b) any other information, report, financial statement, exhibit or schedule furnished by or on
behalf of the U.S. Borrower and the Subsidiaries to an Agent or any Lender in connection with the
negotiation of any Loan Document or included therein or delivered pursuant thereto contained,
contains or will contain any material misstatement of fact or omitted, omits or will omit to state
any material fact necessary to make the statements therein, in the light of the circumstances under
which they were, are or will be made, not misleading; provided that to the extent any such
information, report, financial statement, exhibit or schedule was based upon or constitutes a
forecast or projection, each of the Borrowers represents only that it acted in good faith and
utilized reasonable assumptions and due care in the preparation of such information, report,
financial statement, exhibit or schedule.

     SECTION 3.16 Employee Benefit Plans. (a) Each of the Borrowers and its ERISA Affiliates is in
compliance in all material respects with the applicable provisions of ERISA and the Code and the
regulations and published interpretations thereunder, except where such noncompliance could not
reasonably be expected to result in a Material Adverse Effect. No ERISA Event has occurred or is
reasonably expected to occur that, when taken together with all

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other such ERISA Events, could reasonably be expected to result in liability of any Borrower
or any of its ERISA Affiliates that could reasonably be expected to have a Material Adverse Effect.
Except as disclosed in Schedule 3.16(a), the present value of all benefit liabilities under each
Plan (based on those assumptions used for purposes of Financial Accounting Standards No. 87) did
not, as of the last annual valuation preceding the Effective Date, exceed the fair market value of
the assets of such Plan.

     (b) Schedule 3.16(b) sets forth all Canadian Benefit Plans (other than, for greater certainty,
universal plans created by and to which the Canadian Borrowers are obligated to contribute by
statute) and Canadian Pension Plans as of the date of this Agreement. The Canadian Pension Plans
are duly registered under the ITA and any other applicable laws which require registration, have
been administered in all material respects in accordance with the ITA and such other applicable
laws and no event has occurred which is reasonably likely to cause the loss of such registered
status. All material obligations of the Canadian Parent and the Canadian Subsidiaries (including
fiduciary, funding, investment and administration obligations) required to be performed in
connection with the Canadian Pension Plans and the funding agreements therefor have been performed
on a timely basis. There are no outstanding disputes concerning the assets of the Canadian Pension
Plans or the Canadian Benefit Plans. No promises of benefit improvements under the Canadian
Pension Plans or the Canadian Benefit Plans have been made except where such improvement could not
reasonably be expected to have a Material Adverse Effect. All contributions or premiums required
to be made or paid by the Canadian Parent and the Canadian Subsidiaries to the Canadian Pension
Plans or the Canadian Benefit Plans have been made on a timely basis in accordance with the terms
of such plans and all applicable laws. There have been no improper withdrawals or applications of
the assets of the Canadian Pension Plans or the Canadian Benefit Plans. Except as disclosed in
Schedule 3.16(b), each of the Canadian Pension Plans and the Canadian Benefit Plans is fully funded
on a solvency basis and going concern basis (using actuarial methods and assumptions which are
consistent with the valuations last filed with the applicable Governmental Authorities and which
are consistent with Canadian GAAP).

     (c) With respect to each scheme or arrangement mandated by a government other than the United
States or Canada (a “Foreign Government Scheme or Arrangement”) and with respect to each
employee benefit plan maintained or contributed to by any Loan Party or any Subsidiary of any Loan
Party that is not subject to United States or Canadian law (a “Foreign Plan”):

     (i) any employer and employee contributions required by law or by the terms of any
Foreign Government Scheme or Arrangement or any Foreign Plan have been made, or, if
applicable, accrued, in accordance with normal accounting practices, except where the
failure could not reasonably be expected to have a Material Adverse Effect;

     (ii) the fair market value of the assets of each funded Foreign Plan, the liability of
each insurer for any Foreign Plan funded through insurance or the book reserve established
for any Foreign Plan, together with any accrued contributions, is sufficient to procure or
provide for the accrued benefit obligations, as of the date hereof, with respect to all
current and former participants in such Foreign Plan according to the actuarial assumptions
and valuations most recently used to account for such obligations

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in accordance with applicable generally accepted accounting principles, except where
the failure could not reasonably be expected to have a Material Adverse Effect; and

     (iii) each Foreign Plan required to be registered has been registered and has been
maintained in good standing with applicable regulatory authorities, except where the failure
could not reasonably be expected to have a Material Adverse Effect.

     SECTION 3.17 Environmental Matters. (a) Except as set forth in Schedule 3.17 and except with
respect to any other matters that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, none of the Borrowers or any of the Subsidiaries
(i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law necessary for the ownership
and operation of their respective properties and the conduct of their respective businesses as
currently conducted, (ii) has become subject to any Environmental Liability, (iii) has received
notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any
Environmental Liability.

     (b) Since the date of this Agreement, there has been no change in the status of the matters
disclosed on Schedule 3.17 that, individually or in the aggregate, has resulted in, or materially
increased the likelihood of, a Material Adverse Effect.

     SECTION 3.18 Insurance. The Borrowers and the Subsidiaries are insured by insurance providers
that it reasonably considers to be financially sound (including captive insurance companies, or
through self insurance), in such amounts, with such deductibles and covering such risks and
liabilities are customarily carried by companies engaged in similar businesses and owning similar
properties in localities where the U.S. Borrower and its Subsidiaries operate.

     SECTION 3.19 Security Documents. (a) Each Pledge Agreement is effective to create in favor of
the Applicable Collateral Agent, for the ratable benefit of the Secured Parties referred to
therein, a legal, valid and enforceable security interest in the Collateral (as defined in such
Pledge Agreement) and, when such Collateral (to the extent such Collateral constitutes an
instrument under the applicable Uniform Commercial Code or Personal Property Security Act) is
delivered to such Collateral Agent, such Pledge Agreement shall constitute a fully perfected first
priority Lien on, and security interest in, all right, title and interest of the pledgors
thereunder in such Collateral, in each case prior and superior in right to any other person.

     (b) Each of the Security Agreements is effective to create in favor of the Applicable
Collateral Agent, for the ratable benefit of the Secured Parties referred to therein, a legal,
valid and enforceable security interest in the Collateral (as defined in such Security Agreement)
and, when financing statements in appropriate form are filed in the offices specified on Schedule
1(A) to the Perfection Certificate, such Security Agreement shall constitute a fully perfected Lien
on, and security interest in, all right, title and interest of the grantors thereunder in such
portion of the Collateral in which a security interest may be perfected by the filing of a
financing statement under the applicable Uniform Commercial Code or Personal Property Security Act
(other than the Intellectual Property, as defined in the U.S. Security Agreement), in each case
prior and

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superior in right to any other person, other than with respect to Liens expressly permitted by
Section 6.02.

     (c) The Perfection Certificate sets forth, as of the Effective Date, (a) the exact legal name
of each Loan Party as it appears in its articles or certificate of incorporation (or equivalent
organizational document), the state of its incorporation or formation and the organizational
identification number (or a specific designation that one does not exist) issued by its
jurisdiction of incorporation or formation and (b) each other legal name any Loan Party has had at
any time during the five years preceding the Effective Date, together with the date of the relevant
change.

     SECTION 3.20 Intellectual Property. The U.S. Borrower and each of its Subsidiaries own or are
licensed or otherwise have the legal right to use all of the patents, trademarks, service marks,
trade names, copyrights, franchises, authorizations and other rights that are reasonably necessary
for the operation of their respective businesses, except where the failure could not reasonably be
expected to have a Material Adverse Effect.

     SECTION 3.21 Labor Matters. As of the Effective Date, there are no strikes, lockouts or
slowdowns against the U.S. Borrower or any Subsidiary pending or, to the knowledge of the
Borrowers, threatened. The hours worked by and payments made to employees of the Borrowers and the
Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable
federal, state, provincial, local or foreign law dealing with such matters, except where such
violation, either individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect. All payments due from any Borrower or any Subsidiary, or for which any
claim may be made against any Borrower or any Subsidiary, on account of wages and employee health
and welfare insurance and other benefits, have been paid or accrued as a liability on the books of
such Borrower or such Subsidiary, except where the failure to do the same, either individually or
in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

     SECTION 3.22 Solvency. Immediately following the making of each Loan and the giving of each
of the Guarantee Agreements and after giving effect to the application of the proceeds of each
Loan, the U.S. Borrower and its subsidiaries on a consolidated basis will be Solvent.

     SECTION 3.23 Foreign Assets Control Regulations, etc. None of the U.S. Borrower and the
Subsidiaries is in violation of the FCPA, the Currency and Foreign Transactions Reporting Act of
1970 or any related or similar rules or regulations, issued, administered or enforced by any
Governmental Authority that are applicable to it, and, to the knowledge of the Loan Parties, no
director, officer or employee of the U.S. Borrower and the Subsidiaries is subject to any United
States sanctions administered by OFAC, in each case where such violation or sanctions could,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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ARTICLE IV

Conditions of Lending

     The obligations of the Lenders to make Loans and of the Issuing Banks to issue Letters of
Credit hereunder are subject to the satisfaction of the following conditions:

     SECTION 4.01 All Credit Events. On the date of each Borrowing, and on the date of each
issuance, amendment, extension or renewal of a Letter of Credit (each such event being called a
“Credit Event”):

     (a) The Applicable Administrative Agent shall have received a notice of such Borrowing as
required by Section 2.03 (or such notice shall have been deemed given in accordance with Section
2.03) or, in the case of the issuance, amendment, extension or renewal of a Letter of Credit, the
Applicable Issuing Bank and the Applicable Administrative Agent shall have received a notice
requesting the issuance, amendment, extension or renewal of such Letter of Credit as required by
Section 2.21(b) or, in the case of a Swing Line Loan, the Applicable Swing Line Lender and the
Applicable Administrative Agent shall have received a notice requesting such Swing Line Loan as
required by Section 2.23.

     (b) The representations and warranties set forth in Article III hereof and in each other Loan
Document shall be true and correct in all material respects (provided that to the extent any
representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to
“materiality”, such representation and warranty is true and correct in all respects) on and as of
the date of such Credit Event with the same effect as though made on and as of such date, except to
the extent such representations and warranties expressly relate to an earlier date, in which case
such representation and warranty is true and correct in all material respects (provided that to the
extent any such representation and warranty is qualified as to “Material Adverse Effect” or
otherwise as to “materiality”, such representation and warranty is true and correct in all
respects) as of such earlier date.

     (c) Each Borrower and each other Loan Party shall be in compliance with all the terms and
provisions set forth herein and in each other Loan Document on its part to be observed or
performed, and at the time of and immediately after such Credit Event, no Event of Default or
Default shall have occurred and be continuing.

     Each Credit Event shall be deemed to constitute a representation and warranty by the Borrowers
on the date of such Credit Event as to the matters specified in paragraphs (b) and (c) of this
Section 4.01.

     SECTION 4.02 First Credit Event.

     (a) On or before the Stage 1 CP Satisfaction Date, the Administrative Agents shall have
received, on behalf of themselves, the Lenders and the Issuing Banks:

     (i) this Agreement, executed by the Borrowers, the Lenders and each of the other
parties hereto, and all attached Exhibits and Schedules;

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     (ii) any Note requested by a Lender pursuant to Section 2.04 payable to the order of
such requesting Lender;

     (iii) a favorable written opinion of (1) Vinson & Elkins L.L.P., U.S. counsel for the
Borrowers, substantially to the effect set forth in Exhibit H-1, and (2) Fraser Milner
Casgrain LLP, Canadian counsel to the Canadian Borrowers, substantially to the effect set
forth in Exhibit H-2, in each case (A) dated as of the Stage I CP Satisfaction Date, (B)
addressed to the Administrative Agents, the Issuing Banks and the Lenders, and (C) covering
such other matters relating to the Loan Documents as the Administrative Agents shall
reasonably request, and the Borrowers hereby request such counsel to deliver such opinions;

     (iv) a certificate as to the good standing or tax status of each Loan Party as of a
recent date, from the Secretary of State or other relevant Governmental Authority of the
state or jurisdiction of its organization;

     (v) a certificate of the Secretary or Assistant Secretary (or such other corporate
officer satisfactory to the Administrative Agent) of each Loan Party dated the Stage I CP
Satisfaction Date and certifying (1) that attached thereto is a true and complete copy of
the organizational documents of each Loan Party as in effect on the Stage I CP Satisfaction
Date and at all times since a date prior to the date of the resolutions described in clause
(2) below, (2) that attached thereto is a true and complete copy of resolutions duly adopted
by the Board of Directors (or persons performing similar functions) of such Loan Party
authorizing the Transactions to be entered into by such Loan Party and the execution,
delivery and performance of the Loan Documents to which such person is a party and, in the
case of the Borrowers, the borrowings hereunder, and that such resolutions have not been
modified, rescinded or amended and are in full force and effect, and (3) as to the
incumbency and specimen signature of each officer executing any Loan Document or any other
document delivered in connection herewith on behalf of such Loan Party;

     (vi) a certificate, dated the Stage 1 CP Satisfaction Date and signed by a Financial
Officer of the U.S. Borrower, certifying (1) compliance with the conditions precedent set
forth in Section 4.01(b) and (c), (2) based on the U.S. Borrower’s projections, in each case
after giving pro forma effect (using the criteria therefor described in Section 6.04(i)) to
the initial Borrowing contemplated hereunder, the MAC Merger, the Refinancing Transactions
and the other transactions contemplated hereby, that (A) the U.S. Borrower and its
subsidiaries (including the MAC Group and its subsidiaries), taken as a whole, will be
Solvent on the Implementation Date and (B) the U.S. Borrower and its subsidiaries (including
the MAC Group and its subsidiaries, but without conversion of MAC Group’s financial
statements to GAAP) will be in pro forma compliance (using the criteria therefor described
in Section 6.04(i)) with Sections 6.10 and 6.11 as of September 30, 2010, (3) that all
consents and approvals required pursuant to the terms of the MAC Merger Instruments to be
obtained prior to the Implementation Date (other than the approval contemplated by Section
4.02(d)(i)) have been obtained (other than the approval of the shareholders of the MAC
Group) and that all applicable waiting periods (if any) applicable to the MAC Merger shall
have expired without any

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action being taken or threatened by any competent authority that would result in a
termination of any of the MAC Merger Instruments and (4) whether the U.S. Borrower elects to
pursue Section 5.09(f)(i) and (g)(i) or Section 5.09(f)(ii) and (g)(ii);

     (vii) the U.S. Pledge Agreement duly executed by the parties thereto and (i) all the
outstanding Equity Interests of each Material Subsidiary of the U.S. Borrower that is a
Domestic Subsidiary (other than any Domestic Subsidiary that is a subsidiary of a Foreign
Subsidiary) and (ii) 65% of the voting Equity Interests and 100% of the nonvoting Equity
Interests (if any) of each Material Subsidiary that is a first-tier Foreign Subsidiary
directly owned by the U.S. Borrower or any Domestic Subsidiary of the U.S. Borrower, shall
have been duly and validly pledged thereunder to the U.S. Collateral Agent for the ratable
benefit of the Secured Parties, together with certificates representing such shares, if any,
accompanied by instruments of transfer and stock powers endorsed in blank, shall be in the
actual possession of the U.S. Collateral Agent, and the delivery of UCC-1 financing
statements necessary to create a valid, legal and perfected first-priority Lien on the
Collateral described therein (subject to any Lien expressly permitted by Section 6.02);

     (viii) the Canadian Pledge Agreement duly executed by the parties thereto, and all the
outstanding Equity Interests of the Canadian Parent and certain of its Subsidiaries as of
the Stage I CP Satisfaction Date shall have been duly and validly pledged thereunder to the
Canadian Collateral Agent for the ratable benefit of the Canadian Secured Parties, together
with certificates, if any, representing such Equity Interests, accompanied by instruments of
transfer and stock powers endorsed in blank, shall be in the actual possession of the
Canadian Collateral Agent and, if required, the delivery of PPSA financing statements
necessary to create a valid, legal and perfected first-priority Lien on the Collateral
described therein (subject to any Lien expressly permitted by Section 6.02);

     (ix) the Security Agreements duly executed by the Loan Parties party thereto and each
document (including each financing statement) required by law or reasonably requested by the
Collateral Agents to be filed, registered or recorded in order to create in favor of the
Applicable Collateral Agent for the benefit of the Secured Parties a valid, legal and
perfected first-priority Lien on the Collateral (subject to any Lien expressly permitted by
Section 6.02) described in such agreement (which, for the avoidance of doubt, shall exclude
any property or assets the granting of a Lien on which would result in adverse tax
consequences to the U.S. Borrower or any Subsidiary);

     (x) the results of a search of the Uniform Commercial Code filings (or equivalent
Personal Property Security Act filings) made with respect to each of the Loan Parties in the
state (or other jurisdiction) within the U.S. or Canada in which such person is organized,
and the other jurisdictions in which Uniform Commercial Code filings (or equivalent Personal
Property Security Act filings) are to be made or amended pursuant to the preceding
paragraph, together with copies of the financing statements (or similar documents) disclosed
by such search, and accompanied by evidence satisfactory to the Collateral Agents that the
Liens indicated in any such financing statement (or similar

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document) would be permitted under Section 6.02 or have been or will be
contemporaneously released or terminated on the Effective Date;

     (xi) a Perfection Certificate with respect to the Loan Parties dated the Stage I CP
Satisfaction Date and duly executed by a Responsible Officer of each of the Borrowers;

     (xii) the Guarantee Agreements duly executed by the parties thereto;

     (xiii) a copy of, or a certificate as to coverage under, the insurance policies
required by Section 5.02;

     (xiv) copies of all MAC Merger Instruments, together with all amendments, supplements,
waivers or other modifications thereto, in each case certified by a Responsible Officer of
the U.S. Borrower as true, correct and complete, and any such amendment, supplement, waiver
or other modification thereto that is materially adverse to the Lenders shall be in form and
substance reasonably acceptable to the Administrative Agent and the Arrangers; and

     (xv) true and correct copies of (1) the audited consolidated balance sheets and related
consolidated statements of income, stockholders’ equity and cash flows of the U.S. Borrower,
as of and for the year ended December 31, 2009, (2) the unaudited consolidated balance
sheets and related condensed statements of operations and cash flows of the U.S. Borrower as
of and for the period ended September 30, 2010, (3) the audited consolidated statement of
financial position and related consolidated statements of income, change in equity, and cash
flows of MAC Group, as of and for the year ended June 30, 2010, (4) pro forma consolidated
financial statements for the U.S. Borrower for the most recently ended fiscal year and the
most recently ended quarterly period for which internal financial statements are available
in substantially the same form as previously provided to the Board of Directors of the U.S.
Borrower, and (5) projections prepared by management of the U.S. Borrower of balance sheets,
income and cash flow statements of the U.S. Borrower and its subsidiaries for the five year
period following the Effective Date;

     (xvi) a certificate from the U.S. Borrower on or prior to the Stage 1 CP Satisfaction
Date confirming which option (as set out in Section 5.09(f)) it intends to pursue; and

     (xvii) all documentation and other information that the Administrative Agents, the Lead
Arrangers and the Lender shall have requested in order to comply with its respective
obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act, in each case to the extent such documentation and
other information shall have been requested reasonably in advance of the State 1 CP
Satisfaction Date.

     (b) On or before the Effective Date, the Administrative Agents and the Lead Arrangers shall
have received all Fees and other amounts due and payable on or prior to the Effective Date,
including, to the extent invoiced, reimbursement or payment of all out-of-pocket

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expenses (including, without limitation, the reasonable fees, charges and disbursements of
counsel for the Agents) required to be reimbursed or paid by the Borrowers hereunder or under any
other Loan Document.

     (c) As of the Stage 1 CP Satisfaction Date, no temporary restraining order, preliminary or
permanent injunction or other order issued by any court of competent jurisdiction or Government
Agency (as defined in the MAC Merger Agreement) or other legal restraint or prohibition preventing
the MAC Merger is in effect, and no steps have been taken by any Court (as defined in the MAC
Merger Agreement) or Governmental Agency to effect any of the above, in either case, that provides
the U.S. Borrower with the right to terminate its obligations under the MAC Merger Agreement as a
result thereof.

     (d) On the Effective Date, the Administrative Agents shall have received, on behalf of
themselves, the Lenders and the Issuing Banks, a certificate, dated the Effective Date and signed
by a Financial Officer of the U.S. Borrower, certifying (i) that the shareholders of the MAC Group
have approved the MAC Merger, (ii) that the Supreme Court of New South Wales or such other court of
competent jurisdiction shall have approved the MAC Merger, (iii) the U.S. Borrower and its
subsidiaries, taken as a whole, are Solvent and (iv) based on the U.S. Borrower’s financial
projections, after giving pro forma effect (using the criteria therefor described in Section
6.04(i)) to the Transactions, on the basis of a good faith estimate by the U.S. Borrower of the
Scheme Consideration, the U.S. Borrower and its Subsidiaries (other than MAC Group and its
subsidiaries) shall have a minimum Liquidity of at least U.S.$200,000,000.

     (e) Since October 15, 2010 and up until (i) 5:00 p.m. (Australian Eastern Daylight Time) on
the day before the Second Court Date, the U.S. Borrower shall not have received notice from the MAC
Group of a MSL Material Adverse Change; and (ii) 8:00 a.m. (Australian Eastern Daylight Time) on
the Second Court Date, to the U.S. Borrower’s knowledge, there shall not have occurred a MSL
Material Adverse Change

     Notwithstanding anything to the contrary in this Agreement or any other Loan Document, the
only representations and warranties relating to MAC Group and its subsidiaries the accuracy of
which shall be a condition to the obligation of any Lender to make the Loans and of any Issuing
Bank to issue any initial Letter of Credit to be used to facilitate the MAC Merger, including the
deemed issuance of the Rolled Letters of Credit, shall be (A) the representations and warranties
made by MAC Group in the MAC Merger Agreement, but only to the extent that the U.S. Borrower shall
have the right to terminate its obligations under the MAC Merger Agreement as a result of an
inaccuracy of such representations and warranties, and (B) the Specified Representations.

ARTICLE V

Affirmative Covenants

     Each of the Borrowers covenants and agrees with each Lender that so long as this Agreement
shall remain in effect and until the Commitments have been terminated and the principal of and
interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document
shall have been paid in full and all Letters of Credit have been canceled or

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have expired and all amounts drawn thereunder have been reimbursed in full, unless the
Required Lenders shall otherwise consent in writing, each of the Borrowers will, and will cause
each of its Subsidiaries to:

     SECTION 5.01 Existence; Businesses and Properties. (a) Do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence and (to the
extent the concept is applicable in such jurisdiction) good standing under the legal requirements
of the jurisdiction of its formation, except as otherwise expressly permitted under Section 6.05,
except where failure to do so could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

     (b) Qualify and remain qualified as a foreign entity in each jurisdiction in which
qualification is necessary in view of its business and operations or the ownership of its
properties, except where failure to do so could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.

     (c) Do or cause to be done all things necessary to obtain, preserve, renew, extend, maintain
and keep in full force and effect the rights, privileges, licenses, permits, franchises,
authorizations, patents, copyrights, trademarks and trade names material to the conduct of its
business, except where the failure to do so could not reasonably be expected to have a Material
Adverse Effect; maintain and operate such business in substantially the manner in which it is
presently conducted and operated; comply in all material respects with all applicable laws, rules,
regulations, decrees and orders of any Governmental Authority, whether now in effect or hereafter
enacted, except where the failure do so could not reasonably be expected to have a Material Adverse
Effect; and at all times maintain and preserve all property material to the conduct of such
business and keep such property in good repair, working order and condition and from time to time
make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and
replacements thereto necessary in order that the business carried on in connection therewith may be
properly conducted at all times, except where the failure to do so could not reasonably be expected
to have a Material Adverse Effect.

     SECTION 5.02 Insurance. (a) Maintain insurance with insurance providers that it reasonably
considers to be financially sound (including captive insurance companies, or through self
insurance), in such amounts, with such deductibles and covering such risks and liabilities are
customarily carried by companies engaged in similar businesses and owning similar properties in
localities where the U.S. Borrower and its Subsidiaries operate.

     (b) Cause all such policies covering any Collateral to be endorsed or otherwise amended to
include a customary lender’s loss payable endorsement or name the Applicable Collateral Agent as
loss payee as their interests may appear, in form and substance reasonably satisfactory to the
Collateral Agents, which endorsement shall provide that, from and after the Effective Date, if the
insurance carrier shall have received written notice from a Collateral Agent of the occurrence of
an Event of Default, the insurance carrier shall pay all proceeds otherwise payable to the
applicable Loan Party under such policies directly to the Applicable Collateral Agent; deliver
original or certified copies of all such policies to the Collateral Agents; cause each such policy
to provide that it shall not be canceled, modified or not renewed (i) by reason of nonpayment of
premium upon not less than 10 days’ prior written notice thereof by the insurer to

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the Applicable Administrative Agent and the Applicable Collateral Agent (giving such Agents
the right to cure defaults in the payment of premiums), or (ii) for any other reason upon not less
than 30 days’ prior written notice thereof by the insurer to the Agents; deliver to the Applicable
Administrative Agent and the Applicable Collateral Agent, evidence of the insurance maintained
pursuant to paragraph (a) above; cause all liability insurance policies maintained by any Loan
Party to name the Collateral Agents as an additional insured.

     SECTION 5.03 Obligations and Taxes. Pay its Indebtedness and other obligations promptly and
in accordance with their terms and pay and discharge promptly when due all Taxes, assessments and
governmental charges or levies imposed upon it or upon its income or profits or in respect of its
property, before the same shall become delinquent or in default, as well as all lawful claims for
labor, materials and supplies or otherwise that, if unpaid, might give rise to a Lien upon such
properties or any part thereof; provided, however, that such payment and discharge shall not be
required with respect to any such obligation Tax, assessment, charge, levy or claim so long as the
validity or amount thereof shall be contested in good faith by appropriate proceedings and
applicable Borrower or Subsidiary shall have set aside on its books adequate reserves with respect
thereto in accordance with GAAP and such contest operates to suspend collection of the contested
obligation, tax, assessment or charge and enforcement of a Lien.

     SECTION 5.04 Financial Statements, Reports, etc. Furnish to the Administrative Agent and, in
the case of Section 5.04(f) or (g), the applicable Lender:

     (a) within five Business Days after the date in each fiscal year on which the U.S. Borrower is
required to file its Annual Report on Form 10-K with the SEC (or would be required if the U.S.
Borrower is no longer required to file regular and periodic reports with the SEC), in each case
without giving effect to any extension thereof, the audited consolidated balance sheet and related
consolidated statements of income, stockholders’ equity and comprehensive income and cash flows of
the U.S. Borrower, showing its consolidated financial condition as of the close of such fiscal year
and the results of its operations and the operations of its consolidated subsidiaries during such
year and setting forth in each case in comparative form the figures for the previous fiscal year,
audited by independent public accountants of recognized national standing and accompanied by an
opinion of such accountants (which shall not be subject to any “going concern” or like
qualification or exception or any qualification or exception as to the scope of such audit) to the
effect that such consolidated financial statements fairly present in all material respects the
financial condition and results of operations of the U.S. Borrower and its consolidated
subsidiaries on a consolidated basis in accordance with GAAP;

     (b) within five Business Days after each date in each fiscal year on which the U.S. Borrower
is required to file a Quarterly Report on Form 10-Q with the SEC (or would be required if the U.S.
Borrower is no longer required to file regular and periodic reports with the SEC), in each case
without giving effect to any extension thereof, the unaudited consolidated balance sheets and
related condensed statements of operations and cash flows of the U.S. Borrower, showing its
consolidated financial condition as of the close of such fiscal quarter and the results of its
operations and the operations of its consolidated subsidiaries during such fiscal quarter and the
then elapsed portion of the fiscal year and setting forth in each case in comparative form the
figures for the corresponding period in the previous fiscal year, all certified by one of its
Financial Officers as fairly presenting in all material respects the financial condition

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and results of operations of the U.S. Borrower and its consolidated subsidiaries on a
consolidated basis in accordance with GAAP, subject to normal year-end audit adjustments and the
absence of footnotes;

     (c) concurrently with any delivery of financial statements under paragraph (a) or (b) above, a
certificate in the form of Exhibit I (a “Compliance Certificate”) of a Financial Officer (i)
certifying that no Event of Default or Default has occurred or, if such an Event of Default or
Default has occurred, specifying the nature and extent thereof and any corrective action taken or
proposed to be taken with respect thereto and (ii) setting forth computations in detail reasonably
satisfactory to the Agents demonstrating compliance with the covenants contained in Sections 6.10
and 6.11;

     (d) promptly upon receipt thereof, copies of any audit or other reports delivered to the board
of directors of the U.S. Borrower (or the audit committee of such board) by an independent
registered public accounting firm in connection with such firm’s audit of the consolidated
financial statements of the U.S. Borrower if such reports identify material weaknesses in internal
controls over financial reporting of the U.S. Borrower;

     (e) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials (other than filings under Section 16 of the
Securities Exchange Act of 1934) filed by the U.S. Borrower or any Subsidiary with the SEC, or any
Governmental Authority succeeding to any or all of the functions of said Commission, or with any
national securities exchange, or distributed to its shareholders, as the case may be, and all press
releases;

     (f) promptly, following a request by any Lender, all documentation and other information that
such Lender reasonably requests in order to comply with its ongoing obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the Patriot Act;
and

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

     Documents required to be delivered pursuant this Section 5.04 may be delivered electronically
and, in the case of Sections 5.04(a), (b) or (e) shall be deemed to have been delivered if such
documents, or one or more annual, quarterly or other reports or filings containing such documents
(including, in the case of certifications required pursuant to Section 5.04(b), the certifications
accompanying any such quarterly report pursuant to Section 302 of the Sarbanes-Oxley Act of 2002),
(i) shall have been posted or provided a link to on the U.S. Borrower’s website on the Internet at
www.oilstatesintl.com, (ii) shall be available on the website of the SEC at http://www.sec.gov or
(iii) shall have been posted on the U.S. Borrower’s behalf on SyndTrak or another website, if any,
to which each Lender and the Administrative Agents have access (whether a commercial, third-party
website or whether sponsored by an Administrative Agent). No Administrative Agent shall have an
obligation to request the delivery or to maintain copies of the documents referred to above, and in
any event shall have no

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responsibility to monitor compliance by the U.S. Borrower with any such request for delivery,
and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies
of such documents.

     The U.S. Borrower hereby acknowledges that (a) the Agents will make available to the Lenders
and the Issuing Banks materials and/or information provided by or on behalf of the Loan Parties
hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on SyndTrak or
another similar electronic system (the “Platform”) and (b) certain of the Lenders may be
“public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information
with respect to any Loan Party or its securities) (each, a “Public Lender”). If any Borrower
Materials are designated by the Loan Parties as “PRIVATE”, such Borrower Materials will not be made
available to that portion of the Platform designated “Public Investor,” which is intended to
contain only information that (x) prior to any public offering of securities by any Loan Party, is
of a type that would be contained in a customary offering circular for an offering of debt
securities made in reliance on Rule 144A under the Securities Act or (y) following any public
offering of securities by a Loan Party, is either publicly available or not material information
(though it may be sensitive and proprietary) with respect to such Loan Party or its securities for
purposes of United States Federal and State securities laws. The Agents shall be entitled to treat
any Borrower Materials that are not marked “PRIVATE” or “CONFIDENTIAL” as not containing any
material non-public information with respect to the Loan Parties or any securities for purposes of
United States Federal and state securities laws (provided, however, that to the extent such
Borrower Materials constitute Information, they shall be treated as set forth in Section 9.16).

     SECTION 5.05 Litigation and Other Notices. Upon obtaining knowledge thereof, furnish to the
Administrative Agents prompt written notice of the following:

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

     (b) the filing or commencement of any action, suit or proceeding, whether at law or in equity
or by or before any Governmental Authority, against a Borrower or any Subsidiary thereof that could
reasonably be expected to result in a Material Adverse Effect;

     (c) the occurrence of any ERISA Event or analogous event with respect to a Canadian Pension
Plan or Canadian Benefit Plan that, alone or together with any other such events that have
occurred, could reasonably be expected to result in a Material Adverse Effect;

     (d) a copy of any form of written notice, summons, material correspondence or citation
received from any Governmental Authority or any other person, (i) concerning material violations or
alleged violations of Environmental Laws, which seeks or threatens to impose liability on the U.S.
Borrower or its Subsidiaries therefor, (ii) alleging liability for any material action or omission
on the part of the U.S. Borrower or any of its Subsidiaries in connection with any Release of
Hazardous Material, (iii) providing any written notice of potential responsibility or liability
under any Environmental Law, or (iv) concerning the filing of a Lien other than a Permitted Lien
upon, against or in connection with the U.S. Borrower or any of its Subsidiaries, or any of their
leased or owned material property, wherever located, in each of cases (i) through

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(iv) that, individually or in the aggregate, could reasonably be expected to result in a
liability (to the extent not covered by insurance) of the U.S. Borrower or any of its Subsidiaries
in an aggregate amount exceeding $25,000,000;

     (e) copy of any notice (i) under the MAC Merger Agreement with respect to any material working
capital adjustment or any material indemnity claim thereunder and (ii) of any material claim,
proposed amendment, waiver, modification or termination of or under any MAC Merger Instrument; or

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

     SECTION 5.06 Information Regarding Collateral. Furnish to the Administrative Agent prompt
(and in any event within 30 days) written notice (a) of any change in the legal name, corporate
structure, jurisdiction of organization or formation or organizational identification number within
thirty (30) days after the occurrence thereof; and (b) if any material portion of the Collateral is
expropriated, damaged or destroyed.

     SECTION 5.07 Maintaining Records; Access to Properties and Inspections. Keep proper books of
record and account in which full, true and correct entries in conformity with GAAP and all
requirements of law are made of all dealings and transactions in relation to its business and
activities. Each Loan Party will, and will cause each Subsidiary to, permit any representatives
designated by the Agents or any Lender to visit and inspect the financial records and the
properties of the Borrowers or any Subsidiary and to make extracts from and copies of such
financial records, and permit any representatives designated by the Agents or any Lender to discuss
the affairs, finances and condition of the Borrowers or any Subsidiary with the officers thereof
and independent accountants therefor, all at the expense of the U.S. Borrower and at such
reasonable times during normal business hours and as often as may be reasonably desired, upon
reasonable advance notice to the applicable Loan Party or Subsidiary; provided that the
Loan Parties shall be responsible for such expenses not more than one (1) time per year unless an
Event of Default has occurred and is continuing, in which case the Loan Parties shall be
responsible for all such expenses.

     SECTION 5.08 Use of Proceeds. Use the proceeds of the Loans and request the issuance of
Letters of Credit only for the purposes set forth in Section 3.13.

     SECTION 5.09 Further Assurances. At its sole cost and expense, (a) execute any and all
further documents, financing statements, agreements and instruments, and take all further action
(including filing Uniform Commercial Code, Personal Property Security Act and other financing
statements) that may be required under applicable law, or that any Agent may reasonably request, in
order to effectuate the transactions contemplated by the Loan Documents and in order to grant,
preserve, protect and perfect the validity and first priority of the security interests created or
intended to be created by the Security Documents.

     (b) Cause any subsequently acquired or organized Domestic Subsidiary (other than a Domestic
Subsidiary that is a Subsidiary of a Foreign Subsidiary) that is a Material Subsidiary or any
Domestic Subsidiary that was not a Material Subsidiary that subsequently becomes a

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Material Subsidiary, to execute a supplement making it a party to the U.S. Subsidiary
Guarantee Agreement and each applicable U.S. Security Document in favor of the Collateral Agent, in
each case within thirty (30) days (or such longer period as may be agreed to by the Administrative
Agent) after such acquisition, organization or change in status.

     (c) Cause any subsequently acquired or organized Canadian Subsidiary that is a Material
Subsidiary or any Canadian Subsidiary that was not a Material Subsidiary that subsequently becomes
a Material Subsidiary to execute a supplement to the Canadian Subsidiary Guarantee Agreement and
each applicable Canadian Security Document, in each case within thirty (30) days (or such longer
period as may be agreed to by the Administrative Agent) after such acquisition, organization or
change in status.

     (d) From time to time, promptly secure the Obligations by pledging or creating, or causing to
be pledged or created, perfected security interests with respect to such of their respective
personal property located within the United States or Canada as the Administrative Agent shall
designate (it being understood that it is the intent of the parties that the Obligations of the
U.S. Borrower shall be secured by substantially all the material personal property of the U.S.
Borrower and the U.S. Subsidiary Guarantors located in the United States (including 100% of the
Equity Interests of Material Subsidiaries that are Domestic Subsidiaries (other than a Domestic
Subsidiary that is a Subsidiary of a Foreign Subsidiary) and 65% of the Equity Interests of
Material Subsidiaries that are first-tier Foreign Subsidiaries and that are directly owned by the
U.S. Borrower or any Domestic Subsidiary thereof), and the Obligations of the Canadian Borrowers
shall be secured by substantially all the material personal property of the Canadian Borrowers and
the Canadian Subsidiary Guarantors located in Canada (including personal property which,
individually, has a estimated market value in excess of U.S.$1,000,000 and 100% of the Equity
Interests of certain Subsidiaries of the Canadian Borrowers, including, without limitation, PTI
Australia 2). Such security interests and Liens will be created under the Security Documents and
other security agreements, instruments and documents in form and substance reasonably satisfactory
to the Collateral Agents, and the Borrowers shall deliver or cause to be delivered to the Lenders
all such instruments and documents (including legal opinions and lien searches) as the Collateral
Agents shall reasonably request to evidence compliance with this Section. The Borrowers agree to
provide such evidence as the Collateral Agents shall reasonably request as to the perfection and
priority status of each such security interest and Lien. Notwithstanding the foregoing, the
parties agree that (i) recordings in the United States Patent and Trademark Office, the United
States Copyright Office and the Canadian Intellectual Property Office will not be required with
respect to registered trademarks, trademark applications and copyrights of any Loan Party and (ii)
the collateral for the Facilities shall exclude (A) the Equity Interests in the Mac Group and any
subsidiary thereof and (B) any property or assets the granting of a Lien on which would result in
adverse tax consequences to the U.S. Borrower or any Subsidiary.

     (e) Within 15 Business Days following the Effective Date, the Administrative Agent shall have
received evidence reasonably satisfactory to it that the MAC Merger shall have been consummated
pursuant to and in accordance with the provisions of the MAC Merger Agreement without giving effect
to any waiver or modification of any provision thereof that is materially adverse to the interest
of the Lenders and that is not approved by the Administrative Agent (such consent not to be
unreasonably withheld or delayed).

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     (f) Within ten Business Days (or such longer period as may be reasonably
acceptable to the Administrative Agent) following the Implementation Date, the U.S. Borrower shall
procure that either:

     (i) NAB has consented to the MAC Merger and the U.S. Borrower has confirmed that
the Existing MAC Group Credit Agreement is in compliance with the terms of this Agreement;
or

     (ii) all obligations under the Existing MAC Group Credit Agreement have been repaid
in full, and that arrangements have been made to release the Liens securing the Existing MAC
Group Credit Agreement.

ARTICLE VI

Negative Covenants

     Each of the Borrowers covenants and agrees with each Lender that, so long as this Agreement
shall remain in effect and until the Commitments have been terminated and the principal of and
interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document
have been paid in full and all Letters of Credit have been canceled or have expired and all amounts
drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent
in writing, no Borrower will, nor will it cause or permit any of its Subsidiaries to:

     SECTION 6.01 Indebtedness. On or after the Effective Date, incur, create, assume or
permit to exist any Indebtedness, except:

     (a) Indebtedness existing on the date hereof and set forth in Schedule 6.01, and any
extensions, renewals or replacements of such Indebtedness to the extent the principal amount of
such Indebtedness is not increased, neither the final maturity nor the weighted average life to
maturity of such Indebtedness is decreased, such Indebtedness, if subordinated to the Obligations,
remains so subordinated on terms not less favorable to the Lenders and the original obligors in
respect of such Indebtedness remain the only obligors thereon;

     (b) Indebtedness created hereunder and under the other Loan Documents;

     (c) intercompany Indebtedness of the Borrowers and the Subsidiaries to the extent
permitted by Sections 6.04(a), (f), (g), (k), (l) and (m);

     (d) Indebtedness under bid bonds, labor and materials payment bonds, performance bonds and
similar bonds or bank guarantees or with respect to workers’ compensation claims, in each case
incurred in the ordinary course of business;

     (e) unsecured Indebtedness of the U.S. Borrower and guarantees thereof by the U.S.
Subsidiary Guarantors; provided that, as of the date of incurrence, the U.S. Borrower would be in
compliance with the covenants set forth in Sections 6.10 and 6.11 as of the most recently completed
period of four consecutive fiscal quarters ending prior to such transaction for which the financial
statements required by Section 5.04(a) or 5.04(b) have been delivered or for which

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comparable financial statements have been filed with the SEC, after giving pro forma effect (using the
criteria therefor described in Section 6.04(i)) to such transaction as if such transaction had
occurred as of the first day of such period;

     (f) secured Indebtedness of the U.S. Borrower and guarantees thereof by the U.S.
Subsidiary Guarantors not otherwise permitted under this Section 6.01; provided that, as of the
date of incurrence, (i) the Liens securing such Debt are permitted under Section 6.02(l) and (ii)
the U.S. Borrower would be in compliance with the covenants set forth in Sections 6.10 and 6.11 as
of the most recently completed period of four consecutive fiscal quarters ending prior to such
transaction for which the financial statements required by Section 5.04(a) or 5.04(b) have been
delivered or for which comparable financial statements have been filed with the SEC, after giving
pro forma effect (using the criteria therefor described in Section 6.04(i)) to such transaction as
if such transaction had occurred as of the first day of such period;

     (g) Indebtedness under the Existing MAC Group Credit Agreement (which, for the avoidance
of doubt, has been amended or varied pursuant to Section 5.09(f)(i)) and any extensions, renewals
or replacements of such Indebtedness; provided that (i) such Indebtedness is not created in
contemplation of or in connection with the MAC Merger and (ii) the aggregate principal amount of
such Indebtedness permitted by this clause (g) shall not exceed A$75,000,000 at any time
outstanding; and

     (h) Indebtedness of the Subsidiaries and guaranties thereunder by the U.S. Borrower in an
aggregate principal amount not to exceed when incurred 10% of the U.S. Borrower’s Consolidated Net
Worth calculated as of the most recent fiscal quarter for which financial statements are available.

     SECTION 6.02 Liens. On or after the Effective Date, create, incur, assume or permit to
exist any Lien on any property or assets (including stock or other securities of any person,
including any Subsidiary) now owned or hereafter acquired by it or on any income or revenues or
rights in respect of any thereof, except:

     (a) Liens existing on the Effective Date and set forth in Schedule 6.02; provided that
such Liens shall secure only those obligations which they secure on the date hereof and extensions,
renewals and replacements thereof permitted hereunder;

     (b) any Lien created under the Loan Documents;

     (c) Liens for taxes not yet due or which are being contested in compliance with
Section 5.03;

     (d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business and securing obligations that are not due and payable or
which are being contested in compliance with Section 5.03;

     (e) Liens (other than any Lien imposed by ERISA), pledges and deposits made in the
ordinary course of business in compliance with workmen’s compensation, unemployment insurance and
other social security laws or regulations;

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     (f) deposits to secure the performance of bids, trade contracts (other than for
Indebtedness), leases (including Capital Lease Obligations), statutory obligations, surety and
appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary
course of business;

     (g) zoning restrictions, easements, rights-of-way, restrictions on use of real property
and other similar encumbrances incurred in the ordinary course of business which, in the aggregate,
are not substantial in amount and do not materially detract from the value of the property subject
thereto or interfere with the ordinary conduct of the business of the Borrowers or any of the
Subsidiaries;

     (h) Liens arising out of judgments or awards in respect of which a Borrower or any of the
Subsidiaries shall in good faith be prosecuting an appeal or proceedings for review in respect of
which there shall be secured a subsisting stay of execution pending such appeal or proceedings;
provided that the aggregate amount of all such judgments or awards (and any cash and the fair
market value of any property subject to such Liens) does not exceed U.S.$10,000,000 at any time
outstanding;

     (i) Liens on certain general intangibles of the Canadian Parent in favor of 3045843 Nova
Scotia Company to secure certain intercompany debt of the Canadian Parent permitted by Section
6.04;

     (j) Liens securing Indebtedness under the Existing MAC Group Credit Agreement (which, for
the avoidance of doubt, have been amended or varied pursuant to Section 5.09(f)(i)) and any
extensions, renewals or replacements of such Indebtedness; provided that (i) such Liens are not
created in contemplation of or in connection with the MAC Merger and (ii) such Liens shall not
apply, be with respect to or relate to any other asset, business or circumstances of the U.S.
Borrower or any Subsidiary other than the MAC Group and its subsidiaries;

     (k) purchase money security interests in real property, improvements thereto or equipment
hereafter acquired (or, in the case of improvements, constructed) by the Borrowers or any
Subsidiary; provided that (i) such security interests secure Indebtedness permitted by Section
6.01, (ii) such security interests are incurred, and the Indebtedness secured thereby is created,
within 90 days after such acquisition (or construction), (iii) the Indebtedness secured thereby
does not exceed 90% of the lesser of the cost or the fair market value of such real property,
improvements or equipment at the time of such acquisition (or construction) and (iv) such security
interests do not apply to any other property or assets of the Borrowers or any Subsidiary;

     (l) Liens on Equity Interests in a Special Purpose Business Entity incurred for the
purpose of providing independent financing for such Special Purpose Business Entity; provided,
however, that such Liens are non recourse as to the Canadian Parent or any of its Subsidiaries
holding any Equity Interests in such Special Purpose Business Entity; and

     (m) Liens securing Indebtedness and not otherwise permitted under this Section 6.02;
provided that the aggregate principal amount of all Debt secured by such Liens does not exceed 7.5%
of the U.S. Borrower’s Consolidated Net Worth calculated on the date of incurrence as of the most
recent fiscal quarter for which financial statements are available.

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     SECTION 6.03 Sale and Lease-Back Transactions. Enter into any arrangement, directly or
indirectly, with any person whereby it shall sell or transfer any property, real or personal, used
or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease
such property or other property which it intends to use for substantially the same purpose or
purposes as the property being sold or transferred unless the Indebtedness or Liens arising
therefrom, if any, are permitted by Section 6.01 and 6.02, respectively.

     SECTION 6.04 Investments, Loans and Advances. Purchase, hold or acquire any Equity
Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or
advances to, or make or permit to exist any investment or any other interest in, any other person
(referred to herein as an “Investment”), except:

     (a) Investments of the U.S. Borrower and its Subsidiaries in existence on the Effective
Date and set forth on Schedule 6.04;

     (b) Permitted Investments;

     (c) accounts receivable owing to the Borrowers or any of the Subsidiaries arising from
sales of inventory or the provision of services in the ordinary course of business;

     (d) advances to directors, officers and employees of the Borrowers or any of the
Subsidiaries to meet expenses incurred by such directors, officers and employees in the ordinary
course of business, in an aggregate amount not to exceed U.S.$5,000,000 at any time outstanding;

     (e) securities of any customer of a Borrower or any Subsidiary received in lieu of cash
payment, if such Borrower reasonably deems such customer to be in a reorganization or unable to
make a timely cash payment on Indebtedness of such customer owing to it, provided that such
Borrower or such Subsidiary, as the case may be, has paid no new consideration (other than
forgiveness of Indebtedness) therefor;

     (f) Investments of a Loan Party in or to another Loan Party;

     (g) the U.S. Borrower may make intercompany loans and advances to 3045843 Nova Scotia
Company provided that the proceeds of such loans and advances are subsequently loaned or advanced,
directly or indirectly, to a Canadian Borrower or a Canadian Subsidiary Guarantor;

     (h) the Borrowers may enter into Hedging Agreements to the extent permitted by
Section 6.12;

     (i) the U.S. Borrower and its Subsidiaries may acquire all or substantially all the assets
of a person or line of business of such person, or Equity Interests of a person that would become a
wholly owned Subsidiary (in each case referred to herein as the “Acquired Entity”); provided that
(any acquisition of an Acquired Entity meeting all the criteria of this Section 6.04(i) being
referred to herein as a “Permitted Acquisition”) at the time of such transaction:

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     (i) both before and after giving effect thereto, no Event of Default or Default
shall have occurred and be continuing;

     (ii) the U.S. Borrower would be in compliance with the covenants set forth in
Sections 6.10 and 6.11 as of the most recently completed period of four consecutive fiscal
quarters ending prior to such transaction for which the financial statements required by
Section 5.04(a) or 5.04(b) have been delivered or for which comparable financial statements
have been filed with the SEC, after giving pro forma effect to such transaction and to any
other event occurring during or after such period as to which pro forma recalculation is
appropriate (including any Asset Sale and any other transaction described in this
Section 6.04(i) occurring during or after such period) as if such transaction had occurred
as of the first day of such period;

     (iii) after giving effect to such acquisition, there must be at least
U.S.$25,000,000 of the Revolving Commitments unused and available;

provided, however that all pro forma calculations required to be made pursuant to this
Section 6.04(i) shall (A) include only those adjustments that would be permitted or required by
Regulation S-X under the Securities Act of 1933, as amended and (B) be certified to by a Financial
Officer as having been prepared in good faith based upon reasonable assumptions;

     (j) Investments consisting of non-cash proceeds of Asset Sales;

     (k) Investments, without duplication, of the U.S. Borrower, the Canadian Borrowers and
other Subsidiaries in Subsidiaries including the MAC Group relating to the MAC Merger made on or
before the Implementation Date;

     (l) Investments by a Subsidiary that is not a Loan Party in or to a Loan Party; and

     (m) other Investments, without duplication, in an aggregate amount (valued at cost or
outstanding principal amount, as the case may be) not greater than 15% of the U.S. Borrower’s
Consolidated Net Worth calculated on the date of such Investment as of the most recent fiscal
quarter for which financial statements are available.

     SECTION 6.05 Mergers, Consolidations, Sales of Assets and Acquisitions. (a) Merge,
amalgamate or consolidate with or into any other person, or permit any other person to merge,
amalgamate or consolidate with or into it, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) as part of any Asset Sale all or substantially all of
the assets of a Loan Party (whether now owned or hereafter acquired) or less than all or
substantially all of the Equity Interests of any Loan Party (in each case, whether now owned or
hereafter acquired), or liquidate or dissolve, except that (a) the U.S. Borrower may merge,
amalgamate or consolidate with any person provided that (i) no Change in Control occurs and (ii)
immediately after giving effect to any such proposed transaction no Default or Event of Default
would exist, and (iii) the U.S. Borrower is the surviving entity, (b) the U.S. Borrower may merge
or amalgamate with any of its wholly owned Subsidiaries, provided that immediately after giving
effect to any such proposed transaction no Default would exist and the U.S. Borrower is the
surviving entity, (c) any Subsidiary may merge into or consolidate with any other wholly owned
Subsidiary (or, in order to consummate a Permitted Acquisition, any other

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person) in a transaction
in which the surviving entity is a wholly owned Subsidiary and (except in the case of Permitted
Acquisitions) no person other than the Borrowers or a wholly owned Subsidiary receives any
consideration, provided that (i) the requirements of Section 6.04(i) are met with respect to such
merger described in this clause (c) and (ii) if any such merger described in this clause (c) shall
involve a Loan Party, the surviving entity of such merger shall be or become a Loan Party and (d)
any Subsidiary of the U.S. Borrower may liquidate or dissolve if the U.S. Borrower determines in
good faith that such liquidation or dissolution is in the best interests of the U.S. Borrower and
is not materially disadvantageous to the Lenders.

     (b) Engage in any Asset Sale not otherwise permitted under paragraph (a) above unless (i)
such consideration is at least equal to the fair market value of the assets being sold,
transferred, leased or disposed of, and (ii) the fair market value of all assets sold, transferred,
leased or disposed of pursuant to this paragraph (b) after the Effective Date shall not exceed 15%
of Consolidated Net Worth calculated on the date of incurrence as of the most recent fiscal quarter
for which financial statements are available in the aggregate.

     SECTION 6.06 Restricted Payments; Restrictive Agreements. (a) Declare or make, or agree
to declare or make, directly or indirectly, any Restricted Payment (including pursuant to any
Synthetic Purchase Agreement), or incur any obligation (contingent or otherwise) to do so;
provided, however, that (i) any Subsidiary may declare and pay dividends or make other
distributions ratably to its equity holders of a given class, (ii) so long as no Event of Default
or Default shall have occurred and be continuing or would result therefrom, the U.S. Borrower may
repurchase its Equity Interests owned by employees of the U.S. Borrower or the Subsidiaries or make
payments to employees of the U.S. Borrower or the Subsidiaries upon termination of employment in
connection with the exercise of stock options, stock appreciation rights or similar equity
incentives or equity based incentives pursuant to management incentive plans or in connection with
the death or disability of such employees in an aggregate amount not to exceed U.S.$10,000,000 in
any fiscal year and (iii) so long as (A) no Event of Default or Default shall have occurred and be
continuing or result therefrom, (B) at least U.S.$25,000,000 of the Revolving Commitments is unused
and available after giving effect to such Restricted Payment, and (C) the U.S. Borrower would be in
compliance with the covenants set forth in Sections 6.10 and 6.11 as of the most recently completed
period of four consecutive fiscal quarters ending prior to such transaction for which the financial
statements required by Section 5.04(a) or 5.04(b) have been delivered or for which comparable
financial statements have been filed with the SEC, after giving pro forma effect (using the
criteria therefor described in Section 6.04(i)) to such transaction and to any other event
occurring during or after such period as to which pro forma recalculation is appropriate as if such
transaction had occurred as of the first day of such period, the U.S. Borrower and, with respect to
the Exchangeable Shares, PTI Holdco (with funds advanced by the U.S. Borrower) may make Restricted
Payments in any amount.

     (b) Enter into, incur or permit to exist any agreement or other arrangement that
prohibits, restricts or imposes any condition upon (i) the ability of the U.S. Borrower or any
Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets in favor
of a Collateral Agent or any successor thereto hereunder or under any agreement that replaces or
refinances this Agreement, or (ii) the ability of any Subsidiary to pay dividends or other
distributions with respect to any of its Equity Interests or to make or repay loans or advances to

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the U.S. Borrower or any other Subsidiary or to Guarantee Indebtedness of the U.S. Borrower or any
other Subsidiary; provided that (A) the foregoing shall not apply to restrictions and conditions
imposed by law or by any Loan Document, (B) the foregoing shall not apply to customary restrictions
and conditions contained in agreements relating to the sale of a Subsidiary pending such sale,
provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such
sale is permitted hereunder, (C) the foregoing shall not apply to restrictions and conditions
imposed on any Foreign Subsidiary (other than the Canadian Borrowers or any Canadian Subsidiary) by
the terms of any Indebtedness of such Foreign Subsidiary permitted to be incurred hereunder, (D)
clause (i) of the foregoing shall not apply to restrictions or conditions imposed by any agreement
relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness, (E) clause (i) of the foregoing
shall not apply to customary provisions in leases and other contracts restricting the assignment
thereof and (F) clause (ii) of the foregoing (solely as it relates to dividends) shall not apply to
the restrictions on PTI Holdco required by the terms of the Exchangeable Shares as in effect on the
date hereof.

     SECTION 6.07 Transactions with Affiliates. Except for transactions by or among Loan
Parties and transactions expressly permitted under this Agreement, sell or transfer any property or
assets to, or purchase or acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except that the Borrowers or any Subsidiary may engage in
any of the foregoing transactions in the ordinary course of business at prices and on terms and
conditions not less favorable to the Borrowers or such Subsidiary than could be obtained on an
arm’s-length basis from unrelated third parties.

     SECTION 6.08 Business of Borrowers and Subsidiaries. Engage at any time in any business
or business activity other than providing products and services to the energy industry,
accommodations and business activities reasonably incidental thereto.

     SECTION 6.09 Other Indebtedness and Agreements. (a) Permit any waiver, supplement,
modification, amendment, termination or release of any indenture, instrument or agreement pursuant
to which any Material Indebtedness of a Borrower or any of the Subsidiaries is outstanding if the
effect of such waiver, supplement, modification, amendment, termination or release would increase
the interest rate thereon, shorten the final maturity or the average life thereof or cause an Event
of Default.

     (b) Make any distribution, whether in cash, property, securities or a combination thereof,
other than regular scheduled payments of principal and interest as and when due (to the extent not
prohibited by applicable subordination provisions), in respect of, or pay, or offer or commit to
pay, or directly or indirectly (including pursuant to any Synthetic Purchase Agreement) redeem,
repurchase, retire or otherwise acquire for consideration, or set apart any sum for the aforesaid
purposes, any Subordinated Indebtedness, except (i) to the extent the U.S. Borrower could make a
Restricted Payment pursuant to Section 6.06(a) or (ii) to the extent any Subordinated Indebtedness
is repaid with the proceeds of a refinancing of such Subordinated Indebtedness permitted under
Section 6.01(a) or Section 6.01(e).

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     SECTION 6.10 Interest Coverage Ratio. Permit the Interest Coverage Ratio for any period
of four consecutive fiscal quarters of the U.S. Borrower, in each case taken as one accounting
period, to be less than 3.0 to 1.0.

     SECTION 6.11 Maximum Leverage Ratio. Permit the Leverage Ratio for any period of four
consecutive fiscal quarters of the U.S. Borrower, in each case taken as one accounting period, to
be greater than (a) 3.50 to 1.0 for each fiscal quarter ending after the Effective Date through
December 31, 2011, (b) 3.25 to 1.0 for each fiscal quarter ending from March 31, 2012 through
December 31, 2012 and (c) 3.00 to 1.00 for each fiscal quarter thereafter.

     SECTION 6.12 Hedging Agreements. Enter into any Hedging Agreement, other than Hedging
Agreements entered into in the ordinary course of business to hedge or mitigate risks to which a
Borrower or any Subsidiary is exposed in the conduct of its business or the management of its
liabilities.

     SECTION 6.13 [Reserved].

     SECTION 6.14 Pension Plans. (a) Terminate, in whole or in part, or initiate the
termination of, in whole or in part, any Canadian Pension Plan so as to result in any liability to
the Canadian Parent or its applicable Canadian Subsidiary which could reasonably be expected to
have a Material Adverse Effect; (b) permit to exist any event or condition in respect of any
Canadian Pension Plan which presents the risk of liability of the Canadian Parent which could
reasonably be expected to have a Material Adverse Effect; (c) enter into any new Canadian Pension
Plan or Canadian Benefit Plan or modify any such existing plans so as to increase its obligations
thereunder which could result in any liability to the Canadian Parent or any of its Canadian
Subsidiaries and which could reasonably be expected to have a Material Adverse Effect; (d) permit
their unfunded obligations and liabilities under Canadian Pension Plans to remain unfunded, other
than in accordance with applicable law; (e) engage in any transactions which result in a fine or
penalty against the Canadian Parent in excess of C$10,000,000 in respect of any Canadian Pension
Plan or Canadian Benefit Plan which fine or penalty has not been paid within 30 days of final
assessment unless (i) such fine or penalty is being contested in good faith by appropriate
proceedings, (ii) the Canadian Parent has set aside on its books adequate reserves with respect
thereto in accordance with Canadian GAAP and (iii) such contest does not operate to suspend
collection of the contested fine or penalty; or (f) fail to make a required contribution under any
Canadian Pension Plan or Canadian Benefit Plan which would result in the imposition of a Lien upon
the assets of the Canadian Parent or any of its Subsidiaries within 30 days after the date such
payment becomes due, unless such payment is being contested in compliance with the preceding
clause (e) and there is no risk of forfeiture, loss or subordination of the Secured Parties’ Liens
on such assets.

     SECTION 6.15 Amendment of the MAC Merger Instruments. Permit any supplement, amendment or
other modification of, or any waiver under, the MAC Merger Instruments in a manner that is
materially adverse to the interests of the Lenders.

     SECTION 6.16 MAC Group. Permit PTI Australia 1 or PTI Australia 2 to engage in any
business or activity other than (a) in respect of PTI Australia 2, the ownership of all

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outstanding
equity interests in the MAC Group, (b) in respect of PTI Australia 1, the ownership of all
outstanding equity interests in PTI Australia 2, (c) in respect of both PTI Australia 1 and PTI
Australia 2, (i) maintaining its corporate existence, (ii) participating in tax, accounting and
other administrative activities as the parent of the consolidated group of companies, including the
Loan Parties, and (iii) the execution and delivery of the Loan Documents to which it is a party and
the performance of its obligations thereunder, and (d) activities incidental to the businesses or
activities described in clauses (a) through (c).

     SECTION 6.17 Deposit to MAC Trust Account. Permit the proceeds of any Loans used to pay
the Scheme Consideration to be deposited into the MAC Trust Account earlier than the date falling
three Sydney Business Days prior to the Implementation Date unless required pursuant to applicable
law or otherwise approved by the Administrative Agent.

ARTICLE VII

Events of Default

     SECTION 7.01 Events of Default. In case of the happening of any of the following events
(“Events of Default”):

     (a) any representation or warranty made or deemed made in or in connection with any Loan
Document or the borrowings or issuances of Letters of Credit hereunder, or any representation,
warranty, statement or information contained in any report, certificate, financial statement or
other instrument furnished in connection with or pursuant to any Loan Document, shall prove to have
been false or misleading in any material respect when so made, deemed made or furnished; provided
that to the extent that any representation or warranty is qualified as to “Material Adverse Effect”
or otherwise as to “materiality”, such representation and warranty shall prove to be incorrect in
any respect when made or deemed to be made;

     (b) default shall be made in the payment in the applicable currency of any principal of
any Loan or the reimbursement with respect to any L/C Disbursement when and as the same shall
become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof
or by acceleration thereof or otherwise;

     (c) default shall be made in the payment in the applicable currency of any interest on any
Loan or any Fee or L/C Disbursement or any other amount (other than an amount referred to in
(b) above) due under any Loan Document, when and as the same shall become due and payable, and such
default shall continue unremedied for a period of three Business Days;

     (d) default shall be made in the due observance or performance by a Borrower or any
Subsidiary of any covenant, condition or agreement contained in Section 5.01(a), 5.05(a), 5.08,
5.09(e), 5.09(f) or in Article VI;

     (e) default shall be made in the due observance or performance by a Borrower or any
Subsidiary of any covenant, condition or agreement contained in any Loan Document (other than those
specified in Section 7.01(b), (c) or (d)) and such default shall continue unremedied for a

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period
of 30 days after the earlier of (i) notice thereof from any Agent or any Lender to the U.S.
Borrower or (ii) any Responsible Officer of the U.S. Borrower obtains actual knowledge thereof;

     (f) (i) a Borrower or any Material Subsidiary shall fail to pay any principal or interest,
regardless of amount, due in respect of any Material Indebtedness, when and as the same shall
become due and payable, or (ii) any other event or condition occurs that results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or
without the giving of notice, the lapse of time or both) the holder or holders of any Material
Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to
become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to
its scheduled maturity; provided that this clause (ii) shall not apply to secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such
Indebtedness;

     (g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
in a court of competent jurisdiction seeking (i) relief in respect of a Borrower or any Material
Subsidiary, or of a substantial part of the property or assets of a Borrower or any Material
Subsidiary, under any Insolvency Law, (ii) the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for a Borrower or any Material Subsidiary or for a
substantial part of the property or assets of a Borrower or any Material Subsidiary or (iii) the
winding-up or liquidation of a Borrower or any Material Subsidiary; and such proceeding or petition
shall continue undismissed for 60 days or an order or decree approving or ordering any of the
foregoing shall be entered;

     (h) a Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or
file any petition seeking relief under any Insolvency Law, (ii) consent to the institution of, or
fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition
described in (g) above, (iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for a Borrower or any Material Subsidiary
or for a substantial part of the property or assets of a Borrower or any Material Subsidiary,
(iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors, (vi) become unable, admit
in writing its inability or fail generally to pay its debts as they become due or (vii) take any
action for the purpose of effecting any of the foregoing;

     (i) one or more judgments for the payment of money in an aggregate amount in excess of
U.S.$25,000,000 (to the extent not covered by insurance) shall be rendered against a Borrower or
any Material Subsidiary thereof and the same shall remain undischarged for a period of
30 consecutive days during which execution shall not be effectively stayed, or any action shall be
legally taken by a judgment creditor to levy upon assets or properties of a Borrower or any
Material Subsidiary to enforce any such judgment;

     (j) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when
taken together with all other such ERISA Events, could reasonably be expected to result in
liability of a Borrower and its ERISA Affiliates in an aggregate amount exceeding U.S.$25,000,000;

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     (k) any Guarantee under any Guarantee Agreement for any reason shall cease to be in full
force and effect (other than in accordance with its terms), or any Guarantor shall deny in writing
that it has any further liability under its Guarantee Agreement (other than as a result of the
discharge of such Guarantor in accordance with the terms of the Loan Documents);

     (l) any security interest purported to be created by any Security Document shall cease to
be, or shall be asserted by a Borrower or any other Loan Party not to be, a valid, perfected, first
priority (except as otherwise expressly provided in this Agreement or such Security Document)
security interest in the securities, assets or properties covered thereby having an estimated
market value in excess of U.S.$2,500,000, except to the extent that any such loss of perfection or
priority results from the failure of a Collateral Agent to maintain possession of certificates
representing securities pledged under a Pledge Agreement; or

     (m) there shall have occurred a Change in Control.

     SECTION 7.02 Optional Acceleration of Maturity. If any Event of Default (other than an
Event of Default pursuant to Section 7.01(g) or (h)) shall have occurred and be continuing, then,
and in any such event:

     (a) the Administrative Agent (i) shall at the request, or may, with the consent, of the
Required Revolving Lenders, by notice to the U.S. Borrower, declare the Revolving Commitments and
the obligation of each Revolving Lender and the Issuing Banks to make extensions of credit
hereunder, including making Loans and issuing Letters of Credit, to be terminated, whereupon the
same shall forthwith terminate, and/or (ii) shall at the request, or may, with the consent, of the
Required Lenders, by notice to the U.S. Borrower, declare all principal, interest, fees,
reimbursements, indemnifications, and all other amounts payable under this Agreement and the other
Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be
forthwith due and payable in full, without notice of intent to demand, demand, presentment for
payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of
intent to accelerate, notice of acceleration, and all other notices, all of which are hereby
expressly waived by the Borrowers;

     (b) the Borrowers shall, on demand of either Administrative Agent at the request or with
the consent of the Required Revolving Lenders, Cash Collateralize the Letters of Credit in
accordance with Section 2.21(k); and

     (c) the Collateral Agents shall at the request of, or may with the consent of, the
Required Lenders proceed to enforce their respective rights and remedies under the Security
Documents, this Agreement, and any other Loan Document for the ratable benefit of the Lenders by
appropriate proceedings.

     SECTION 7.03 Automatic Acceleration of Maturity. If any Event of Default pursuant to
Section 7.01(g) or (h) shall occur:

     (a) (i) the Revolving Commitments and the obligation of each Revolving Lender and the
Issuing Bank to make extensions of credit hereunder, including making Loans and issuing Letters of
Credit, shall terminate, and (ii) all principal, interest, fees, reimbursements, indemnifications,
and all other amounts payable under this Agreement and the other Loan

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Documents shall become and be forthwith due and payable in full, without notice of intent to demand, demand, presentment for
payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of
intent to accelerate, notice of acceleration, and all other notices, all of which are hereby
expressly waived by the Borrowers;

     (b) the Borrowers shall Cash Collateralize the Letters of Credit in accordance with
Section 2.21(k); and

     (c) the Collateral Agents shall at the request of, or may with the consent of, the
Required Lenders proceed to enforce its rights and remedies under the Security Documents, this
Agreement, and any other Loan Document for the ratable benefit of the Lenders by appropriate
proceedings.

     SECTION 7.04 Non-exclusivity of Remedies. No remedy conferred upon the Agents, the
Issuing Banks and the Lenders is intended to be exclusive of any other remedy, and each remedy
shall be cumulative of all other remedies existing by contract, at law, in equity, by statute or
otherwise.

     SECTION 7.05 Application of Proceeds. From and during the continuance of any Event of
Default, any monies or property actually received by an Agent pursuant to this Agreement or any
other Loan Document, the exercise of any rights or remedies under any Security Document or any
other agreement with any Loan Party which secures any of the Obligations, shall be applied in the
following order:

     (a) First, to payment of the reasonable expenses, liabilities, losses, costs, duties,
fees, charges or other moneys whatsoever (together with interest payable thereon) as may have been
paid or incurred in, about or incidental to any sale or other realization of Collateral, including
reasonable out-of-pocket expenses and indemnities, in each case for which any Agent or any Secured
Party is to be reimbursed pursuant to this Agreement or any other Loan Document and that are then
due and payable;

     (b) Second, to the ratable payment of accrued but unpaid Fees, Commitment Fees, and
Issuing Bank Fees owing to the Issuing Banks and the Lenders in respect of the Loans and Letters of
Credit under this Agreement;

     (c) Third, to the ratable payment of accrued but unpaid interest on the Loans and any
unpaid L/C Disbursements, the L/C Participation Fees and the Issuing Bank Fees then due and payable
under this Agreement;

     (d) Fourth, to the ratable payment of all outstanding principal of the Loans, L/C
Disbursements, any Banking Services Obligations owing to any Lender or Affiliate thereof, all
obligations of the U.S. Borrower or its Subsidiaries owing to any Lender or Affiliate thereof party
to any Hedging Agreement according to the unpaid termination amounts thereof, if any, then due and
payable and to Cash Collateralize the Aggregate L/C Exposure in accordance with Section 2.21(i);

     (e) Fifth, to the ratable payment of all obligations to Cash Collateralize the Aggregate
L/C Exposure in accordance with Section 2.21(k);

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     (f) Sixth, ratably, according to the then unpaid amounts thereof, without preference or
priority of any kind among them, to the ratable payment of all other Obligations then due and
payable which relate to Loans and Letters of Credit and which are owing to the Agents, the Issuing
Banks and the Lenders;

     (g) Seventh, to the ratable payment of any other outstanding Obligations then due and
payable; and

     (h) Eighth, any excess after payment in full of all Obligations shall be paid to the U.S.
Borrower or any other Loan Party as appropriate or to such other person who may be lawfully
entitled to receive such excess.

Notwithstanding the foregoing, Obligations arising under Hedging Agreements or Banking Services
with a Lender or an Affiliate thereof shall be excluded from the application described above if the
Administrative Agent has not received written notice thereof, together with such supporting
documentation as the Administrative Agent may reasonably request, from the applicable Lender.

ARTICLE VIII

The Administrative Agents, the Collateral Agents,

the Issuing Banks and the Swing Line Lenders

     SECTION 8.01 Appointment and Authority. Each of the Lenders, the Swing Line Lenders and
the Issuing Banks hereby irrevocably appoints Wells Fargo to act on its behalf as the
Administrative Agent and the U.S. Collateral Agent hereunder and under the other Loan Documents.
Each of the Lenders and the Issuing Banks hereby irrevocably appoints RBC to act on its behalf as
the Canadian Administrative Agent and Canadian Collateral Agent hereunder and under the other Loan
Documents. Each of the Lenders, the Swing Line Lenders and the Issuing Banks authorizes each Agent
to take such actions on its behalf and to exercise such powers as are delegated to such Agent by
the terms hereof or thereof, together with such actions and powers as are reasonably incidental
thereto. The provisions of this Article are solely for the benefit of the Agents, the Lenders and
the Issuing Bank, and no Loan Party shall have rights as a third party beneficiary of any of such
provisions. Each of the Secured Parties hereby acknowledges and confirms their agreement that the
Collateral Agents are subject to certain Security Documents as trustee for and on behalf of the
Lenders or the terms of the declaration of trust and other terms and conditions set forth in the
applicable Security Documents.

     SECTION 8.02 Rights as a Lender. The person serving as an Agent or an Issuing Bank or a
Swing Line Lender hereunder shall have the same rights and powers in its capacity as a Lender as
any other Lender and may exercise the same as though it were not an Agent, an Issuing Bank or a
Swing Line Lender and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or
unless the context otherwise requires, include the person serving as an Agent, an Issuing Bank or a
Swing Line Lender hereunder in its individual capacity. Such person and its Affiliates may accept
deposits from, lend money to, act as the financial advisor or in any other advisory capacity for
and generally engage in any kind of business with any Borrower or any Subsidiary or other Affiliate
thereof as if such person were not an Agent, an

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Issuing Bank or a Swing Line Lender hereunder and
without any duty to account therefor to the Lenders.

     SECTION 8.03 Exculpatory Provisions. None of the Agents, Issuing Banks or the Swing Line
Lenders shall have any duties or obligations except those expressly set forth herein and in the
other Loan Documents. Without limiting the generality of the foregoing, none of the Agents or the
Issuing Banks:

     (a) shall be subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing;

     (b) shall have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
Documents that such Agent, Issuing Bank or Swing Line Lender is required to exercise as directed in
writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents), provided that such Agent, Issuing
Bank or Swing Line Lender shall not be required to take any action that, in its opinion or the
opinion of its counsel, may expose such Agent, Issuing Bank or Swing Line Lender to liability or
that is contrary to any Loan Document or legal requirement; and

     (c) shall, except as expressly set forth herein and in the other Loan Documents, have any
duty to disclose, and shall not be liable for the failure to disclose, any information relating to
the U.S. Borrower or any of its Affiliates or Subsidiaries that is communicated to or obtained by
the person serving as Agent, Issuing Bank, Swing Line Lender or any of their respective Affiliates
in any capacity.

None of the Agents or the Issuing Banks shall be liable for any action taken or not taken by it (i)
with the consent or at the request of the Required Lenders (or such other number or percentage of
the Lenders as shall be necessary, or as such Agent or Issuing Bank shall believe in good faith
shall be necessary, under the circumstances as provided in Sections 9.08) or (ii) in the absence of
its own gross negligence or willful misconduct. None of the Agents, the Issuing Banks and the
Swing Line Lenders shall be deemed to have knowledge of any Default unless and until notice
describing such Default is given to such Agent, Issuing Bank or Swing Line Lender by a Borrower, a
Loan Party, a Lender or an Issuing Bank.

None of the Agents, Issuing Banks or the Swing Line Lenders shall be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in
connection with this Agreement or any other Loan Document, (ii) the contents of any certificate,
report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any
other agreement, instrument or document or (v) the satisfaction of any condition set forth in
Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to such Agent, Issuing Bank or Swing Line Lender or satisfaction of any condition that
expressly refers to the matters described therein being acceptable or satisfactory to such Agent,
Issuing Bank or Swing Line Lender.

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     SECTION 8.04 Reliance by the Agents, the Issuing Banks and the Swing Line Lenders. Each
of the Agents, Issuing Banks and the Swing Line Lenders shall be entitled to rely upon, and shall
not incur any liability for relying upon, any notice, request, certificate, consent, statement,
instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent
or otherwise authenticated by the proper person. Each of the Agents, the Issuing Banks and the
Swing Line Lenders also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper person, and shall not incur any liability for relying
thereon. In determining compliance with any condition hereunder to the making of a Loan, or the
issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender
or an Issuing Bank, an Agent may presume that such condition is satisfactory to such Lender or
Issuing Bank unless such Agent shall have received notice to the contrary from such Lender or
Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. An Agent,
Issuing Bank or Swing Line Lender may consult with legal counsel (who may be counsel for a Loan
Party), independent accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such counsel, accountants or
experts.

     SECTION 8.05 Delegation of Duties. Each of the Agents may perform any and all of its
duties and exercise its rights and powers hereunder or under any other Loan Document by or through
any one or more sub-agents appointed by such Agent. Each of the Agents and any of their respective
sub-agents may perform any and all of its duties and exercise its rights and powers by or through
their respective Related Parties. The exculpatory provisions of this Article shall apply to any
such sub-agent and to the Related Parties of such Agent and any such sub-agent, and shall apply to
their respective activities in connection with the syndication of the credit facilities provided
for herein as well as activities as such Agent.

     SECTION 8.06 Resignation of an Agent or a Swing Line Lender.

     (a) An Agent may resign at any time by giving prior written notice thereof to the Lenders
and the U.S. Borrower, such resignation to be effective upon the appointment of a successor Agent
or, if no successor Agent has been appointed, forty-five (45) days after the retiring Agent gives
notice of its intention to resign. Upon any such resignation, the Required U.S. Lenders shall have
the right to appoint, on behalf of the Borrowers and the U.S. Lenders, a successor Administrative
Agent or U.S. Collateral Agent, which shall be a financial institution with an office in New York
City. Upon any such resignation, the Required Canadian Lenders shall have the right to appoint, on
behalf of the Canadian Borrowers and the Lenders, a successor Canadian Administrative Agent or
Canadian Collateral Agent, which shall be a financial institution with an office in New York City.
If no successor Agent shall have been so appointed by the Applicable Required Lenders within thirty
(30) days after the resigning Agent’s giving notice of its intention to resign, then the resigning
Agent may appoint, on behalf of the Borrowers and the Lenders, a successor Agent. If either the
Administrative Agent or the Canadian Administrative Agent has resigned and no successor Agent has
been appointed, the Applicable Required Lenders may perform all the duties of such Agent hereunder
and the Borrowers shall make all payments in respect of the Obligations to the applicable Lender
and for all other purposes shall deal directly with the Required Lenders until such successor Agent
shall have been appointed as provided herein. No successor Agent shall be deemed to be appointed

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hereunder until such successor Agent has accepted the appointment or, in the case of a successor
U.S. or Canadian Collateral Agent, upon the execution and filing or recording of such financing
statements, or amendments thereto, and such amendments or supplements to the Security Documents,
and such other instruments or notices, as may be necessary or desirable, or as the Applicable
Required Lenders may reasonably request, in order to continue the perfection of the Liens granted
or purported to be granted by the Security Documents. Upon the acceptance of any appointment as
Administrative Agent or Collateral Agent hereunder by a successor Agent, such successor Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges and duties of the
resigning Agent. Upon the effectiveness of the resignation of an Administrative Agent or
Collateral Agent, the resigning Agent shall be discharged from its duties and obligations hereunder
and under the Loan Documents. After the effectiveness of the resignation of an Agent, the
provisions of this Article VIII shall continue in effect for the benefit of such Agent in respect
of any actions taken or omitted to be taken by it while it was acting as an Agent hereunder and
under the other Loan Documents.

     (b) Any resignation by Wells Fargo as Administrative Agent pursuant to this Section shall
also constitute its resignation as an Issuing Bank and Swing Line Lender. Upon the acceptance of a
successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and
become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank
and Swing Line Lender, (b) the retiring Issuing Bank and Swing Line Lender shall be discharged from
all of their respective duties and obligations hereunder or under the other Loan Documents, and (c)
the successor Issuing Bank shall issue letters of credit in substitution for the Letters of Credit,
if any, outstanding at the time of such succession or make other arrangement satisfactory to the
retiring Issuing Bank to effectively assume the obligations of the retiring Issuing Bank with
respect to such Letters of Credit.

     SECTION 8.07 Non-Reliance on Agents and Other Lenders; Certain Acknowledgments.

     (a) Each Lender and Issuing Bank acknowledges that it has, independently and without
reliance upon any Agent or any other Lender or any of their Related Parties and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement. Each Lender and Issuing Bank also acknowledges that it will,
independently and without reliance upon any Agent or any other Lender or any of their Related
Parties and based on such documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or based upon this
Agreement, any other Loan Document or any related agreement or any document furnished hereunder or
thereunder. In this regard, each party hereto acknowledges that (i) Bracewell & Giuliani LLP is
acting in this transaction as special counsel to the Administrative Agent and U.S. Collateral Agent
only and (ii) McCarthy Tétrault LLP is acting in this transaction as special counsel to the
Canadian Administrative Agent and Canadian Collateral Agent only. Each other party hereto will
consult with its own legal counsel to the extent that it deems necessary in connection with the
Loan Documents and the matters contemplated therein.

     (b) Each Lender shall be deemed by delivering its signature page to this Agreement and
making any Loan on the Effective Date to have consented to, approved or accepted each Loan Document
and each other document or other matter referred to in Section 4.01 or 4.02

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required to be
consented to or approved by or acceptable or satisfactory to the Agents, the Lead Arrangers or the
Lenders and to have been satisfied with the satisfaction of all other conditions precedent required
to be satisfied under Section 4.01 or 4.02.

     SECTION 8.08 Indemnification. The Lenders severally agree to indemnify upon demand the
Agents, the Issuing Banks, the Swing Line Lenders and each Related Party of any of the foregoing
(to the extent not reimbursed by the Loan Parties), according to their respective ratable shares,
and hold harmless such Indemnitee from and against any and all Indemnified Liabilities in all
cases, whether or not caused by or arising, in whole or in part, out of the negligence of any
Related Party; provided, however, that no Lender shall be liable for (a) the payment to any
Indemnitee for any portion of such Indemnified Liabilities to the extent determined in a final,
nonappealable judgment by a court of competent jurisdiction to have resulted from such Indemnitee’s
own gross negligence or willful misconduct and (b) claims made or legal proceedings commenced
against such Indemnitee by any security holder or creditor thereof arising out of and based on
rights afforded any such security holder or creditor solely in its capacity as such; provided
further, however, that no action taken in accordance with the directions of the Applicable Required
Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of this
Section. Without limitation of the foregoing, each Lender agrees to reimburse the Agents, the
Issuing Banks, the Swing Line Lenders and each Related Party promptly upon demand for its ratable
share of any out-of-pocket expenses (including all fees, expenses and disbursements of any law firm
or other external counsel) incurred by an Agent, an Issuing Bank or a Swing Line Lender in
connection with the preparation, execution, delivery, administration, modification, amendment, or
enforcement (whether through negotiations, legal proceedings, or otherwise) of, or legal advice in
respect of rights or responsibilities under, this Agreement or any other Loan Document, to the
extent that such Agent, Issuing Bank or Swing Line Lender is not reimbursed for such by the Loan
Parties. The undertaking in this Section shall survive termination of the Commitments, the payment
of all other Obligations and the resignation of such Agent, Issuing Bank or Swing Line Lender.

     SECTION 8.09 Collateral and Guaranty Matters.

     (a) Each Lender (as a Lender and in its capacity as a potential provider of Banking
Services or potential counterparty to a Hedging Agreement) and each other Secured Party (by their
acceptance of the benefits of any Lien encumbering Collateral) acknowledges and agrees that the
Collateral Agents have entered into the Security Documents on behalf of itself and the Secured
Parties, and the Secured Parties hereby agree to be bound by the terms of such Security Documents,
acknowledge receipt of copies of such Security Documents and consent to the rights, powers,
remedies, indemnities and exculpations given to such Collateral Agent thereunder. All rights,
powers and remedies available to the Collateral Agents and the Secured Parties with respect to the
Collateral, or otherwise pursuant to the Security Documents, shall be subject to the provisions of
such Security Documents.

     (b) Each Lender (as a Lender and in its capacity as a potential provider of Banking
Services or potential counterparty to a Hedging Agreement) and each other Secured Party (by their
acceptance of the benefits of any Lien encumbering Collateral) hereby authorizes the Collateral
Agents, at their option and in their discretion, without the necessity of any notice to or further
consent from the Secured Parties:

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     (i) to release any Lien on any property granted to or held by the Collateral Agent
under any Security Document (i) as provided in Section 6.03, Section 6.05, Section 9.20 or
any Security Document or (ii) subject to Section 9.08, if approved, authorized or ratified
in writing by the Required Lenders;

     (ii) to take any actions with respect to any Collateral or Security Documents which
may be necessary to perfect and maintain a first priority security interest in and Liens
upon the Collateral granted pursuant to the Security Documents;

     (iii) to take any action in exigent circumstances as may be reasonably necessary to
preserve any rights or privileges of the Secured Parties under the Loan Documents or
applicable law; and

     (iv) to subordinate any Lien on any property granted to or held by the Collateral
Agent under any Loan Document to the holder of any Lien on such property that is permitted
by Section 6.01(d), 6.01(f), 6.01(g) or 6.01(h).

     (c) Upon the request of the Collateral Agent at any time, the Secured Parties will confirm
in writing the Collateral Agent’s authority to release particular types or items of Collateral
pursuant to this Section 8.09.

     (d) Each Loan Party hereby irrevocably appoints each Collateral Agent as such Loan Party’s
attorney-in-fact, with full authority to, after the occurrence and during the continuance of an
Event of Default, act for such Loan Party and in the name of such Loan Party to, in such Collateral
Agent’s discretion upon the occurrence and during the continuance of an Event of Default, (i) file
one or more financing or continuation statements, and amendments thereto, relative to all or any
part of the Collateral without the signature of such Loan Party where permitted by law, (ii) to
receive, endorse, and collect any drafts or other instruments, documents, and chattel paper which
are part of the Collateral, (iii) to ask, demand, collect, sue for, recover, compromise, receive,
and give acquittance and receipts for moneys due and to become due under or in respect of any of
the Collateral, (iv) to file any claims or take any action or institute any proceedings which such
Collateral Agent may reasonably deem necessary or desirable for the collection of any of the
Collateral or otherwise to enforce the rights of such Collateral Agent with respect to any of the
Collateral and (v) if any Loan Party fails to perform any covenant contained in this Agreement or
the other Security Documents relating to the Collateral after the expiration of any applicable
grace periods, such Collateral Agent may itself perform, or cause performance of, such covenant,
and such Loan Party shall pay for the expenses of the Collateral Agent incurred in connection
therewith in accordance with Section 9.05. The power of attorney granted hereby is coupled with an
interest and is irrevocable.

     (e) The powers conferred on the Collateral Agents under this Agreement and the other
Security Documents are solely to protect their respective interest in the Collateral and shall not
impose any duty upon it to exercise any such powers. Beyond the safe custody thereof, each
Collateral Agent and each Secured Party shall have no duty with respect to any Collateral in its
possession or control (or in the possession or control of any agent or bailee) or with respect to
any income thereon or the preservation of rights against prior parties or any other rights
pertaining thereto. Each Collateral Agent shall be deemed to have exercised reasonable care in

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the custody and preservation of the Collateral in its possession if the Collateral is accorded
treatment substantially equal to that which such Collateral Agent accords its own property. None
of the Agents, any Lender or any other Secured Party shall be liable or responsible for any loss or
damage to any of the Collateral, or for any diminution in the value thereof, by reason of the act
or omission of any warehouseman, carrier, forwarding agency, consignee, broker or other agent or
bailee selected by the U.S. Borrower or selected by an Agent in good faith.

     SECTION 8.10 No Other Duties, etc. Anything herein to the contrary notwithstanding, the
Syndication Agent, the Co-Documentation Agents, the Co-Lead Arrangers and the Joint Bookrunners
listed on the cover page hereof shall not have any powers, duties or responsibilities under this
Agreement or any of the other Loan Documents, except in its capacity, as applicable, as an Agent, a
Lender or an Issuing Bank.

     SECTION 8.11 Agents May File Proofs of Claim. In case of the pendency of any proceeding
under any Insolvency Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C Disbursement shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether an Agent shall have made any demand on a Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, L/C Disbursements and all other Obligations (other than obligations
of the U.S. Borrower or its Subsidiaries owing to any Lender or Affiliate thereof party to any
Hedging Agreement or any Banking Services Obligations) that are owing and unpaid and to file such
other documents as may be necessary or advisable in order to have the claims of the Lenders, the
Issuing Banks and the Agents (including any claim for the reasonable expenses, disbursements and
advances of the Lenders, the Issuing Bank and the Agents and all other amounts due the Lenders, the
Issuing Banks and the Agents under Sections 2.05 and 9.08) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same.

Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in
any such judicial proceeding is hereby authorized by each Lender and Issuing Bank to make such
payments to such Agent and, if such Agent shall consent to the making of such payments directly to
the Lenders and the Issuing Banks, to pay to such Agent any amount due for the reasonable expenses,
disbursements and advances of such Agent, and any other amounts due such Agent under Sections 2.05
and 9.08.

Nothing contained herein shall be deemed to authorize any Agent to authorize or consent to or
accept or adopt on behalf of any Lender or Issuing Bank any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or Issuing Bank to
authorize Agent to vote in respect of the claim of any Lender or Issuing Bank or in any such
proceeding.

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ARTICLE IX

Miscellaneous

     SECTION 9.01 Notices.

     (a) Notices Generally. Except in the case of notices and other communications expressly
permitted to be given by telephone (and except as provided in paragraph (b) below), notices and
other communications provided for herein or (except as otherwise provided therein) any other Loan
Document shall be in writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by fax, as follows:

     (i) if to the U.S. Borrower, to it at Three Allen Center, 333 Clay Street,
Suite 3460, Houston, Texas 77002, Attention of Chief Financial Officer (Fax
No. (713) 652-0499), with a copy to the Canadian Parent at the address below;

     (ii) if to either Canadian Borrower, to PTI Group, Inc., at 3050 Parsons Road NW,
Edmonton, Alberta T6N 1B1, Attention of Chief Financial Officer (Fax No. (780) 463-3109),
with a copy to the U.S. Borrower at the address above;

     (iii) if to the Administrative Agent or the U.S. Collateral Agent, to Wells Fargo
Bank, N.A., at 1525 West WT Harris Boulevard, Charlotte, North Carolina 28262, Attention:
Syndication Agency Services (Fax No. (704) 715-0017), with a copy to Wells Fargo Bank, N.A.,
at 1000 Louisiana Street, Houston, Texas 77002, Attention: Eric Hollingsworth (Fax No. (713)
739-1087);

     (iv) if to the Canadian Administrative Agent or the Canadian Collateral Agent, to
Royal Bank of Canada, at 200 Bay Street, 12th Floor, Royal Bank Plaza, P.O. Box
50, Toronto, Ontario M5J 2W7, Attention of Manager, Agency Services (Fax No. (416)
842-4023); and

     (v) if to a Lender or an Issuing Bank, to it at its address (or fax number) set
forth in its Administrative Questionnaire.

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by telecopier shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications to the extent provided in paragraph (b) below,
shall be effective as provided in said paragraph (b). Any party may change its address for notices
by giving notice of such change to each party in accordance with this Section 9.01; provided that,
any Lender shall be required only to provide notice of such change to the Applicable Borrower and
the Applicable Administrative Agent.

     (b) Electronic Communications. Notices and other communications to the Lenders and the
Issuing Banks hereunder may be delivered or furnished by electronic communication (including e-mail
and Internet or intranet websites) pursuant to procedures approved by the Applicable Administrative
Agent, provided that the foregoing shall not apply to notices to any

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Lender or Issuing Bank
pursuant to Article II if such Lender or Issuing Bank, as applicable, has notified the Applicable
Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. Each Administrative Agent or Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may be limited to particular
notices or communications.

Unless an Administrative Agent otherwise prescribes, (i) notices and other communications sent to
an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the
intended recipient (such as by the “return receipt requested” function, as available, return e-mail
or other written acknowledgement), provided that if such notice or other communication is not sent
during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next business day for the recipient, and
(ii) notices or communications posted to an Internet or intranet website shall be deemed received
upon the deemed receipt by the intended recipient at its e-mail address as described in the
foregoing clause (i) of notification that such notice or communication is available and identifying
the website address therefor.

     (c) Effectiveness of Facsimile Documents and Signatures. Loan Documents may be
transmitted and/or signed by facsimile. The effectiveness of any such documents and signatures
shall, subject to applicable law, have the same force and effect as manually-signed originals and
shall be binding on all Loan Parties, the Agents and the Lenders. The Agents may also require that
any such documents and signatures be confirmed by a manually-signed original thereof; provided,
however, that the failure to request or deliver the same shall not limit the effectiveness of any
facsimile document or signature.

     (d) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES
(AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE
ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall any Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to any Borrower, any Lender, any
Issuing Bank or any other person for losses, claims, damages, liabilities or expenses of any kind
(whether in tort, contract or otherwise) arising out of any Borrower’s or any Agent’s transmission
of Borrower Materials through the Internet, except to the extent that such losses, claims, damages,
liabilities or expenses are determined by a court of competent jurisdiction by a final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Agent Party; provided, however, that in no event shall any Agent Party have any liability to any
Borrower, any Lender, any Issuing Bank or any other person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages).

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     (e) Reliance by Agents, Issuing Banks and Lenders. Each of the Agents, Issuing Banks and
the Lenders shall be entitled to rely and act upon any notices (including telephonic and
electronically communicated (e-mailed) Borrowing Requests) purportedly given by or on behalf of a
Loan Party even if (i) such notices were not made in a manner specified herein, were incomplete or
were not preceded or followed by any other form of notice specified herein, or (ii) the terms
thereof, as understood by the recipient, varied from any confirmation
thereof. The Borrowers shall
indemnify the Agents, the Issuing Banks, each Lender and their Related Parties from all losses,
costs, expenses and liabilities resulting from the reliance by such person on each notice
purportedly given by or on behalf of the Borrower. All telephonic notices to and other
communications with any Agent, Issuing Bank or Lender may be recorded by such Agent, Issuing Bank
or Lender, and each of the parties hereto hereby consents to such recording.

     SECTION 9.02 Survival of Agreement. All covenants, agreements, representations and
warranties made by a Borrower herein and in the certificates or other instruments prepared or
delivered in connection with or pursuant to this Agreement or any other Loan Document shall be
considered to have been relied upon by the Lenders and the Issuing Banks and shall survive the
making by the Lenders of the Loans and the issuance of Letters of Credit by the Issuing Banks,
regardless of any investigation made by the Lenders or the Issuing Banks or on their behalf, and
shall continue in full force and effect as long as the principal of or any accrued interest on any
Loan or any Fee or any other amount payable under this Agreement or any other Loan Document is
outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have
not been terminated. The provisions of Sections 2.13, 2.15, 2.19, 9.05 and 9.16 shall remain
operative and in full force and effect regardless of the expiration of the term of this Agreement,
the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the
expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan Document, or any
investigation made by or on behalf of the Administrative Agents, the Collateral Agents, any Lender
or any Issuing Bank.

     SECTION 9.03 Binding Effect. This Agreement shall become effective when it shall have
been executed by the Borrowers and the Administrative Agent and when the Administrative Agent shall
have received counterparts hereof which, when taken together, bear the signatures of each of the
other parties hereto.

     SECTION 9.04 Successors and Assigns.

     (a) Generally. The terms and provisions of this Agreement and the other Loan Documents
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer
any of its rights or obligations hereunder except as expressly permitted hereunder without the
prior written consent of each Lender and no Lender may assign or otherwise transfer any of its
rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the
provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the
provisions of paragraph (d) of this Section, (iii) by way of pledge or assignment of a security
interest subject to the restrictions of paragraph (f) or (h) of this Section or (iv) to an SPC in
accordance with the provisions of paragraph (g) of this Section (and any

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other attempted assignment
or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent provided in
paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Indemnitees)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitments (including, for purposes of this Section 9.04(b), participations in
Letters of Credit and Swing Line Loans) and the Loans at the time owing to it); provided that any
such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment under any Facility or the Loans at the time owing to
it under such Facility or in the case of an assignment to a Lender, an Affiliate of
a Lender or an Approved Fund, no minimum amount need be assigned; and

     (B) in any case not described in paragraph (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the applicable Commitment is not then in effect, the
principal outstanding balance of the Loans of the assigning Lender subject to each
such assignment (determined as of the date the Assignment and Acceptance with
respect to such assignment is delivered to the Administrative Agent or, if “Trade
Date” is specified in the Assignment and Acceptance, as of the Trade Date) shall not
be less than (1) $5,000,000, in the case of any assignment in respect of the U.S.
Revolving Credit Facility or Canadian Revolving Credit Facility, or (2) $5,000,000,
in the case of any assignment in respect of the U.S. Term Loan Facility, or Canadian
Term Loan Facility unless each of the Applicable Administrative Agent and, so long
as no Event of Default has occurred and is continuing, the U.S. Borrower otherwise
consents (each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and concurrent
assignments from members of an Assignee Group to a single Eligible Assignee (or to
an Eligible Assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met.

     (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment
of a proportionate part of all the assigning Lender’s rights and obligations under this
Agreement with respect to the Loan or the Commitment assigned and shall be pro rata among
the separate Facilities of such Lender, except that this clause (ii) shall not apply to the
Applicable Swing Line Lender’s rights and obligations in respect of Swing Line Loans.

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     (iii) Required Consents. No consent shall be required for any assignment except to
the extent required by paragraph (b)(i)(B) of this Section and, in addition:

     (A) the consent of the U.S. Borrower (such consent not to be unreasonably
withheld or delayed) shall be required for assignments in respect of the U.S.
Revolving Credit Facility or Canadian Revolving Credit Facility if such assignment
is to a person that is not a Lender under the Revolving Credit Facility or Canadian
Revolving Credit Facility, an Affiliate of such Lender or any Approved Fund with
respect to such Lender, provided that no such consent shall be required if an Event
of Default shall have occurred and is continuing;

     (B) the consent of the Applicable Administrative Agent (such consent not to
be unreasonably withheld or delayed) shall be required (1) for assignments in
respect of the U.S. Revolving Credit Facility or Canadian Revolving Credit Facility
if such assignment is to a person that is not a Lender under the U.S. Revolving
Credit Facility or Canadian Revolving Credit Facility, an Affiliate of such Lender
or an Approved Fund with respect to such Lender or (2) for assignments of Term
Commitments to a person who is not a Lender, an Affiliate of a Lender or an Approved
Fund;

     (C) the consent of each Issuing Bank (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of the U.S.
Revolving Credit Facility or Canadian Revolving Credit Facility; and

     (D) the consent of the Applicable Swing Line Lender (such consent not to be
unreasonably withheld or delayed) shall be required for any assignment in respect of
the U.S. Revolving Credit Facility or the Canadian Revolving Credit Facility, as
applicable.

     (iv) Assignment and Acceptance. The parties to each assignment shall execute and
deliver to the Applicable Administrative Agent an Assignment and Acceptance, together with a
processing and recordation fee of $3,500; provided, however, that the Applicable
Administrative Agent may, in its sole discretion, elect to waive such processing and
recordation fee in the case of any assignment; and provided, further, that only one such fee
shall be payable in the event of contemporaneous assignments to members of an Assignee Group
and concurrent assignments from members of an Assignee Group to a single Eligible Assignee
(or to an Eligible Assignee and members of its Assignee Group). The assignee, if it is not
a Lender, shall deliver to the Applicable Administrative Agent an Administrative
Questionnaire.

     (v) No Assignment to Borrower. No such assignment shall be made to the U.S.
Borrower or any of the U.S. Borrower’s Affiliates or Subsidiaries.

     (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

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     (vii) Defaulting Lenders. No assignment shall be made to any Defaulting Lender or
any of its Subsidiaries, or any person who, upon becoming a Lender hereunder, would
constitute any of the foregoing persons.

Upon such execution, delivery, acceptance and recording thereof by the Applicable Administrative
Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in
each Assignment and Acceptance, (A) the Eligible Assignee thereunder shall be a party hereto for
all purposes and, to the extent that rights and obligations hereunder have been assigned to it
pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder
and (B) such assigning Lender thereunder shall, to the extent that rights and obligations hereunder
have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be
released from its obligations under this Agreement (and, in the case of an Assignment and
Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections 2.11, 2.13, and 9.05 with respect to facts and circumstances occurring prior
to the effective date of such assignment). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this subsection shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with subsection (d) of this Section.

In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no
such assignment shall be effective unless and until, in addition to the other conditions thereto
set forth herein, the parties to the assignment shall make such additional payments to the
Applicable Administrative Agent in an aggregate amount sufficient, upon distribution thereof as
appropriate (which may be outright payment, purchases by the assignee of participations or
sub-participations, or other compensating actions, including funding, with the consent of the U.S.
Borrower and the Applicable Administrative Agent, the applicable pro rata share of Loans previously
requested but not funded by the Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Applicable Administrative Agent or any Lender hereunder (and
interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all
Loans and participations in Letters of Credit and Swing Line Loans in accordance with its
Applicable Pro Rata Percentage. Notwithstanding the foregoing, in the event that any assignment of
rights and obligations of any Defaulting Lender hereunder shall become effective under applicable
law without compliance with the provisions of this paragraph, then the assignee of such interest
shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance
occurs.

     (c) Register. The Applicable Administrative Agent shall maintain at its Applicable
Lending Office a copy of each Assignment and Acceptance delivered to and accepted by it and a
register for the recordation of the names and addresses of the Lenders and the Commitments of, and
principal amount of the Loans owing to, each Lender from time to time (the “Register”).
The entries in the Register shall be conclusive and binding for all purposes, absent manifest
error, and each of the Loan Parties, the Agents, the Issuing Banks, and the Lenders may treat each
person whose name is recorded in the Register as a Lender hereunder for all purposes of this
Agreement. In addition, the Applicable Administrative Agent shall maintain on the Register
information regarding the designation, and revocation of designation, of any Lender as a

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Defaulting
Lender. The Register shall be available for inspection by the U.S. Borrower or any Lender at any
reasonable time and from time to time upon reasonable prior notice.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to, the
U.S. Borrower or the Applicable Administrative Agent, sell participations to any person (other than
a natural person, a Defaulting Lender or the U.S. Borrower or any of the U.S. Borrower’s or a
Defaulting Lender’s Affiliates or subsidiaries) (each, a “Participant”) in all or a portion
of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its
Commitment and/or the Loans (including such Lender’s participations in Letter of Credit Obligations
and Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this
Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations and (iii) the U.S. Borrower, the Agents and
the other Lenders shall continue to deal solely and directly with such Lender in connection with
such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that such
Lender will not, without the consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to Section 9.08 that directly affects such Participant.
Subject to subsection (e) of this Section, the U.S. Borrower agrees that each Participant shall be
entitled to the benefits of Sections 2.13, 2.14, 2.19 and 9.05 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To
the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 9.06 as though it were a Lender, provided that such Participant agrees to be subject to
Section 2.17 as though it were a Lender.

     (e) A Participant shall not be entitled to receive any greater payment under Section
2.13 or 2.14 than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to such Participant is
made with the U.S. Borrower’ prior written consent. A Participant that would be a Foreign Lender
if it were a Lender shall not be entitled to the benefits of Section 2.19 unless the U.S. Borrower
is notified of the participation sold to such Participant and such Participant agrees, for the
benefit of the U.S. Borrower, to comply with Section 2.19(e) and Section 2.19(f) as though it were
a Lender.

     (f) Any Lender may at any time pledge or assign a security interest in all or any portion
of its rights under this Agreement to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or
assignment shall release such Lender from any of its obligations hereunder or substitute any such
pledgee or assignee for such Lender as a party hereto.

     (g) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle identified as such in writing from time
to time by the Granting Lender to the Applicable Administrative Agent and the U.S. Borrower (an
“SPC”) the option to provide all or any part of any Loan that such Granting Lender would
otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall
constitute a commitment by any SPC to fund any Loan, and (ii) if a SPC elects not to

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exercise such
option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be
obligated to make such Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i)
neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or
expenses or otherwise increase or change the obligations of the Borrowers under this Agreement,
(ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement
for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including
the approval of any amendment, waiver or other modification of any provision of any Loan Document,
remain the lender of record hereunder. The making of a Loan by a SPC hereunder shall utilize the
Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such
Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement
shall survive the termination of this Agreement) that, prior to the date that is one year and one
day after the payment in full of all outstanding commercial paper or other senior debt of any SPC,
it will not institute against, or join any other person in instituting against, such SPC any
bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of
the United States or any State thereof. Notwithstanding anything to the contrary contained herein,
any SPC may (i) with notice to, but without prior consent of the U.S. Borrower and the Applicable
Administrative Agent and without paying any processing fee therefor, assign all or any portion of
its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a
confidential basis any non-public information relating to its funding of Loans to any rating
agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity
enhancement to such SPC.

     (h) Notwithstanding anything to the contrary contained herein, any Lender that is a Fund
may create a security interest in all or any portion of the Loans owing to it and the note, if any,
held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as
security for such obligations or securities, provided that unless and until such trustee actually
becomes a Lender in compliance with the other provisions of this Section 9.04, (i) no such pledge
shall release the pledging Lender from any of its obligations under the Loan Documents and (ii)
such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan
Documents even though such trustee may have acquired ownership rights with respect to the pledged
interest through foreclosure or otherwise.

     SECTION 9.05 Expenses; Indemnity.

     (a) Costs and Expenses. The Borrowers agree, jointly and severally, to pay (i) all
reasonable out-of-pocket expenses incurred by the Lead Arrangers, the Administrative Agents, the
Collateral Agents, the Issuing Banks and their Affiliates (including the reasonable fees, charges
and disbursements of counsel for the Agents), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution, delivery and
administration of this Agreement and the other Loan Documents or any amendments, modifications or
waivers of the provisions hereof or thereof (whether or not the transactions hereby or thereby
shall be consummated), and (ii) all reasonable out-of-pocket expenses incurred by any Agent, any
Lender or Issuing Bank (including the reasonable fees, charges and disbursements of any counsel for
any Agent, any Lender or Issuing Bank), in connection with the enforcement or protection of its
rights (A) in connection with this Agreement and the other Loan Documents, including its rights
under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder,
including all such reasonable out-of-pocket expenses incurred

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during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit. The foregoing costs and expenses under
this Section 9.05 shall include all due diligence, search, filing, recording, title insurance,
printing, reproduction, document delivery, travel, CUSIP, electronic platform, communication costs
and appraisal charges and fees and Taxes related thereto, and other out-of-pocket expenses
reasonably incurred by any Agent, Lender or Issuing Bank (including, in connection with any workout
or restructuring, the cost of financial advisors and other outside experts retained by any Agent).
All amounts due under this Section 9.05 shall be payable within 30 days after written demand
therefore unless such amounts are being contested in good faith by the U.S. Borrower. The
agreements in this Section shall survive the termination of the Commitments and repayment of all
Obligations.

     (b) Indemnification by the Borrower. The Borrowers agree, jointly and severally, to
indemnify the Administrative Agents, the Collateral Agents, each Lender, each Issuing Bank and the
Related Parties of any of the foregoing persons (each such person being called an “Indemnitee”)
against, and to hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including reasonable counsel fees, charges and disbursements but
excluding any such loss, claim, damage, liability or expense resulting from a claim or proceeding
brought by a Lender against any other Lender (other than any Agent in its capacity as such),
incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a
result of (i) the execution or delivery of this Agreement or any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties thereto of
their respective obligations thereunder or the consummation of the transactions contemplated
thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds of the Loans
or issuance of Letters of Credit (including any refusal by the Issuing Bank to honor a demand for
payment under a Letter of Credit if the documents presented in connection with such demand do not
strictly comply with the terms of such Letter of Credit), (iii) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by a Borrower or any other
Loan Party, and regardless of whether or not any Indemnitee is a party thereto, or (iv) any actual
or alleged presence or Release of Hazardous Materials on any property owned or operated by a
Borrower or any of the Subsidiaries, or any Environmental Liability related in any way to a
Borrower or the Subsidiaries; provided that SUCH INDEMNITY SHALL EXPRESSLY INCLUDE ANY SUCH LOSSES,
LIABILITIES, CLAIMS, DAMAGES OR EXPENSE INCURRED BY REASON OF THE PERSON BEING INDEMNIFIED’S OWN
NEGLIGENCE but not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Indemnitee or, with respect to any Environmental Liability, to the extent such Indemnitee,
after foreclosure or other remedial action, has caused such Environmental Liability.

     TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, NO LOAN PARTY SHALL ASSERT,
AND HEREBY WAIVES, ANY CLAIM AGAINST ANY INDEMNITEE, ON ANY THEORY OF LIABILITY, FOR SPECIAL,
INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES) ARISING OUT
OF, IN CONNECTION WITH, OR AS A RESULT OF, THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR

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ANY AGREEMENT
OR INSTRUMENT CONTEMPLATED HEREBY, THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, ANY LOAN OR
LETTER OF CREDIT OR THE USE OF THE PROCEEDS THEREOF. NO INDEMNITEE SHALL BE LIABLE FOR ANY DAMAGES
ARISING FROM THE USE BY UNINTENDED RECIPIENTS OF ANY INFORMATION OR OTHER MATERIALS DISTRIBUTED BY
IT THROUGH TELECOMMUNICATIONS, ELECTRONIC OR OTHER INFORMATION TRANSMISSION SYSTEMS IN CONNECTION
WITH THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

     (c) Reimbursement by Lenders. To the extent that a Borrower for any reason fails to
indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to
an Agent (or any sub-agent thereof), an Issuing Bank, a Swing Line Lender or any Related Party of
any of the foregoing, each Lender severally agrees to pay to the Applicable Agent (or any such
sub-agent), the Applicable Issuing Bank, the Applicable Swing Line Lender or such Related Party, as
the case may be, such Lender’s Applicable Pro Rata Percentage (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided
that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as
the case may be, was incurred by or asserted against the Applicable Agent (or any such sub-agent),
the Applicable Issuing Bank or the Applicable Swing Line Lender in its capacity as such, or against
any Related Party of any of the foregoing acting for the Applicable Agent (or any such sub-agent),
Applicable Issuing Bank or the Applicable Swing Line Lender in connection with such capacity.

     (d) The provisions of this Section 9.05 shall remain operative and in full force and
effect regardless of the expiration of the term of this Agreement, the consummation of the
transactions contemplated hereby, the repayment of any of the Loans, the expiration of the
Commitments, the expiration of any Letter of Credit, the invalidity or unenforceability of any term
or provision of this Agreement or any other Loan Document, or any investigation made by or on
behalf of any Agent, Lender or Issuing Bank. All amounts due under this Section 9.05 shall be
payable on written demand therefor.

     SECTION 9.06 Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Agent, Lender, Issuing Bank and each of their respective Affiliates is hereby
authorized at any time and from time to time, except to the extent prohibited by law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final, in
whatever currency) at any time held and other Indebtedness (in whatever currency) at any time owing
by such Agent, Lender, Issuing Bank to or for the credit or the account of any Borrower or any
other Loan Party to whom it has made Loans against any of and all the obligations of such Borrower
or Loan Party now or hereafter existing under this Agreement and other Loan Documents held by such
Agent, Lender or Issuing Bank, irrespective of whether or not such Agent, Lender or Issuing Bank
shall have made any demand under this Agreement or such other Loan Document and although such
obligations may be contingent or unmatured or are owed to a branch or office of such Lender or
Issuing Bank different from the branch or office holding such deposit or obligated on such
Indebtedness. The rights of each Agent, Lender, Issuing Bank and their respective Affiliates under
this Section 9.06 are in addition to other rights and remedies (including other rights of setoff)
which such Agent, Lender, Issuing Bank or their respective

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Affiliates may have. Each Agent, Lender
and Issuing Bank agrees to notify the U.S. Borrower and the Administrative Agent promptly after any
such setoff and application, provided that the failure to give such notice shall not affect the
validity of such setoff and application.

     SECTION 9.07 Applicable Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

     SECTION 9.08 Waivers; Amendment. (a) No failure or delay of any Agent, any Lender or any
Issuing Bank in exercising any power or right hereunder or under any other Loan Document shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right or power,
or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other
or further exercise thereof or the exercise of any other right or power. The rights and remedies
of the Agents, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No
waiver of any provision of this Agreement or any other Loan Document or consent to any departure by
the Borrowers or any other Loan Party therefrom shall in any event be effective unless the same
shall be permitted by Section 9.08(b), and then such waiver or consent shall be effective only in
the specific instance and for the purpose for which given. No notice or demand on a Borrower in
any case shall entitle the Borrowers to any other or further notice or demand in similar or other
circumstances. Notwithstanding anything to the contrary contained herein or in any other Loan
Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents
against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained
exclusively by, the Agents in accordance with Sections 7.02 and 7.03 for the benefit of all the
Secured Parties; provided, however, that the foregoing shall not prohibit (i) the Agent from
exercising on their own behalf the rights and remedies that inure to its benefit (solely in its
capacity as an Agent) hereunder and under the other Loan Documents, (ii) any Issuing Bank from
exercising the rights and remedies that inure to its benefit (solely in its capacity as Issuing
Bank) hereunder and under the other Loan Documents, (iii) any Swing Line Lender from exercising the
rights and remedies that inure to its benefit (solely in its capacity as Swing Line Lender)
hereunder and under the other Loan Documents, (iv) any Lender from exercising setoff rights in
accordance with Section 9.06 (subject to the terms of Section 2.17), or (v) subject to Section
8.11, any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf
during the pendency of a proceeding relative to any Loan Party under any Insolvency Law.

     (b) Any amendment or waiver of any provision of this Agreement or any other Loan Document
(other than the Fee Letters or any Letter of Credit Document), and any consent to any departure by
a Borrower or any other Loan Party therefrom, shall be effective if the same shall be in writing
and signed by the Required Lenders and the Borrowers (or by the Administrative Agent (with the
prior written consent of the Required Lenders) and the Borrowers), provided that such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which
given; provided further that (x) any provision of this Agreement or any other Loan Document may be
amended by an agreement in writing signed by the Administrative Agent and the U.S. Borrower to cure
any ambiguity, omission, defect or inconsistency so long as, in each case, the Lenders shall have
received at least five (5) Business Days’ prior written

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notice thereof and the Administrative Agent
shall not have received, within five (5) Business Days of the date of such notice to the Lenders, a
written notice from the Required Lenders stating that the Required Lenders object to such
amendment, and (y) no amendment, waiver or consent shall:

     (i) extend the Maturity Date of or increase the stated amount of any Commitment of
any Lender (or reinstate any Commitment of any Lender terminated pursuant to the terms
hereof) without the written consent of such Lender;

     (ii) postpone any date fixed by this Agreement for any scheduled payment (but not
any prepayment) of principal, interest or fees due to any Lender hereunder without the
written consent of such Lender;

     (iii) reduce the principal of, or the rate of interest specified herein on, any
Loan or L/C Disbursement or any interest or Fees payable hereunder without the prior written
consent of each Lender directly affected thereby (it being understood and agreed that any
change in the definition of “Leverage Ratio”, or in the component definitions thereof, shall
not constitute a reduction of rate of interest or any interest or Fees payable hereunder);
provided, however, that (A) only the consent of the U.S. Required Revolving Lenders shall be
required to waive any obligation of the U.S. Borrower to pay default interest pursuant to
Section 2.07 with respect to the U.S. Revolving Credit Facility, including with respect to
any amount payable thereunder or in connection therewith (B) only the consent of the
Canadian Required Revolving Lenders shall be required to waive any obligation of either
Canadian Borrower to pay default interest pursuant to Section 2.07 with respect to the
Canadian Revolving Credit Facility, including with respect to any amount payable thereunder
or in connection therewith, (C) only the consent of the Required U.S. Term Lenders shall be
required to waive any obligation of the U.S. Borrower to pay default interest pursuant to
Section 2.07 with respect to the U.S. Term Loan Facility, including with respect to any
amount payable thereunder or in connection therewith, and (D) only the consent of the
Required Canadian Term Lenders shall be required to waive any obligation of either Canadian
Borrower to pay default interest pursuant to Section 2.07 with respect to the Canadian Term
Loan Facility, including with respect to any amount payable thereunder or in connection
therewith;

     (iv) change Section 2.16 in a manner that would alter the pro rata sharing of
payments required thereby without the written consent of each Lender adversely affected
thereby or change the order of application, as among the Facilities, of any prepayment or
other amount specified in Section 7.05 from the order set forth in such Section in a manner
that materially and adversely affects the Lenders under any Facility without the prior
written consent of (A) if such Facility is the U.S. Term Loan Facility, the Required U.S.
Term Lenders, (B) if such Facility is the Canadian Term Loan Facility, the Required Canadian
Term Lenders, (C) if such Facility is the U.S. Revolving Credit Facility, the Required U.S.
Revolving Lenders and (D) if such Facility is the Canadian Revolving Credit Facility, the
Required Canadian Revolving Lenders;

     (v) change any provision of this Section, or the percentage specified in definition
of “Required Lenders,” “Required U.S. Revolving Lenders,” “Required U.S.

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Term Lenders”,
“Required Canadian Revolving Lenders,” “Required Canadian Term Lenders”, “Required Revolving
Lenders,” or “Required Term Lenders” or any other provision hereof specifying the number or
percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or
make any determination or grant any consent hereunder, without the written consent of each
Lender directly affected thereby;

     (vi) except as expressly permitted hereunder or under any Security Document, (A)
release the guaranty provided by the U.S. Borrower hereunder without the written consent of
each Canadian Lender, or (B) release all or substantially all of the value of the guaranties
provided by the other Guarantors hereunder or all or substantially all of the Collateral
without the written consent of each Lender;

     (vii) change Section 9.04 in a manner that imposes additional restrictions on the
ability of any Lender under any Facility to assign any of its rights or obligations
hereunder without the prior written consent of (A) if such Facility is the U.S. Term Loan
Facility, the Required U.S. Term Lenders, (B) if such Facility is the Canadian Term Loan
Facility, the Required Canadian Term Lenders, (C) if such Facility is the U.S. Revolving
Credit Facility, the Required U.S. Revolving Lenders and (D) if such Facility is the
Canadian Revolving Credit Facility, the Required Canadian Revolving Lenders;

     (viii) change the provisions of any Loan Document in a manner that by its terms
adversely affects the rights in respect of payments due to Lenders holding one Class of
Loans differently from the rights in respect of payments due to Lenders holding another
Class of Loans without the prior written consent of the Required U.S. Revolving Lenders (if
the U.S. Revolving Lenders are the adversely affected Class), Required U.S. Term Lenders (if
the U.S. Term Lenders are the adversely affected Class), Required Canadian Revolving Lenders
(if the Canadian Revolving Lenders are the adversely affected Class) or Required Canadian
Term Lenders (if the Canadian Term Lenders are the adversely affected Class); or

     (ix) amend or modify the protections afforded to an SPC pursuant to the provisions
of Section 9.04(g) without the written consent of such SPC,

provided, further, that no such agreement shall amend, modify or otherwise affect the rights
or duties of an Agent, an Issuing Bank or a Swing Line Lender hereunder or under any other
Loan Document without the prior written consent of such Agent, Issuing Bank or Swing Line
Lender, respectively.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder or under any other Loan Document
(and any amendment, waiver or consent which by its terms requires the consent of all Lenders, all
Lenders or a majority in interest of Lenders under any Facility or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lender); provided that
any such amendment, waiver or consent referred to in clause (b)(i), (ii) or (iii) above that, but
for this sentence, would require the prior written consent of such Defaulting Lender, will continue
to require the consent of such Defaulting Lender; and provided further that any such amendment,
waiver or consent requiring the consent of all Lenders, such Lender or

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each affected Lender that by
its terms affects any Defaulting Lender more adversely than any other Lender whose consent is so
required shall require the consent of such Defaulting Lender.

No Lender or any Affiliate of a Lender shall have any voting rights under any Loan Document as a
result of the existence of obligations owed to it under Hedging Agreements or Banking Services
Obligations.

     SECTION 9.09 Interest Rate Limitation. Regardless of any provisions contained in this
Agreement or in any other Loan Documents, the Lenders shall never be deemed to have contracted for
or be entitled to receive, collect or apply as interest on any Loan or participation in any L/C
Disbursement any amount in excess of the maximum lawful rate (the “Maximum Rate”), and in the event
any Lender ever receives, collects or applies as interest (whether termed interest herein or deemed
to be interest by operation of law or judicial determination) any such excess, or if an
acceleration of the maturities of the Loans or if any prepayment by any Borrower results in such
Borrower having paid any interest in excess of the Maximum Rate, such amount which would be
excessive interest shall be deemed to be a partial prepayment of principal and applied to the
reduction of the unpaid principal balance of the Loans for which such excess was received,
collected or applied, and, if the principal amount of the Obligations is paid in full, any
remaining excess shall forthwith be paid to the Applicable Borrower. All sums paid or agreed to be
paid to the Lenders for the use, forbearance or detention of the Obligations evidenced by this
Agreement shall, to the extent permitted by applicable law, be amortized, prorated, allocated and
spread, in equal or unequal parts, throughout the full term of such Obligations until payment in
full so that the rate or amount of interest on account of such indebtedness does not exceed the
Maximum Rate. In determining whether or not the interest paid or payable under any specific
contingency exceeds the Maximum Rate of interest permitted by law, the Borrowers and the Lenders
shall, to the maximum extent permitted under applicable law, (i) characterize any non-principal
payment as an expense, fee or premium, rather than as interest; and (ii) exclude voluntary
prepayments and the effect thereof; and (iii) compare the total amount of interest contracted for,
charged or received with the total amount of interest which could be contracted for, charged or
received throughout the entire contemplated term of the Loans at the Maximum Rate.

     SECTION 9.10 Entire Agreement. This Agreement, the other Loan Documents, and the Fee
Letters constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof.

     SECTION 9.11 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY EXPRESSLY AND IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF,
UNDER OR IN ANY CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS AND WHETHER
FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT
ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY
COURT AS WRITTEN EVIDENCE OF THE

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CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS
APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11.

     SECTION 9.12 Severability. In the event any one or more of the provisions contained in
this Agreement or in any other Loan Document should be held invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein
and therein shall not in any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect
the validity of such provision in any other jurisdiction). The parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the
foregoing provisions of this Section 9.12, if and to the extent that the enforceability of any
provisions in this Agreement relating to Defaulting Lenders shall be limited by Insolvency Laws, as
determined in good faith by an Agent or Issuing Bank, as applicable, then such provisions shall be
deemed to be in effect only to the extent not so limited.

     SECTION 9.13 Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original but
all of which when taken together shall constitute a single contract, and shall become effective as
provided in Section 9.03. Delivery of an executed signature page to this Agreement by facsimile
transmission or by electronic communication (e-mail) shall be as effective as delivery of a
manually signed counterpart of this Agreement.

     SECTION 9.14 Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting, this Agreement.

     SECTION 9.15 Jurisdiction; Consent to Service of Process. (a) Any legal action or
proceeding with respect to this Agreement or any other Loan Document may be brought in the courts
of the State of New York sitting in the Borough of Manhattan, New York City or of the United States
for the Eastern District of such state, and by execution and delivery of this Agreement, each of
the Borrowers hereby irrevocably and unconditionally submits, for itself and its property, to the
nonexclusive jurisdiction of those courts. Each of the parties hereto agrees that a final judgment
in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall
affect any right that an Agent, an Issuing Bank or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement or the other Loan Documents against the Borrowers
or their respective properties in the courts of any jurisdiction.

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     (b) Each of the Borrowers hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
or the other Loan Documents in any such New York state or Federal court. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law. Each Borrower waives
personal service of any summons, complaint or other process, which may be made by any other means
permitted by the law of such state.

     (d) Each Loan Party (other than the U.S. Borrower) hereby irrevocably appoints the U.S.
Borrower as its agent to receive on its behalf and on behalf of its property service of copies of
any summons or complaint or any other process which may be served in any action. Such service may
be made by mailing or delivering a copy of such process to such Loan Party in care of the U.S.
Borrower at the U.S. Borrower’s address set forth in Section 9.01, and each such Loan Party hereby
irrevocably authorizes and directs the U.S. Borrower to accept such service on its behalf.

     SECTION 9.16 Confidentiality. Each of the Agents, the Issuing Banks and the Lenders
agrees to maintain, and cause their respective Affiliates to maintain, the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and its
Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and
other advisors (it being understood that the persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the
extent required by applicable law or by any subpoena or similar legal process, (d) to any other
party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan
Document or any action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of, pledgee under Section
9.04(f) or Participant in, or any prospective assignee of, pledgee under Section 9.04(f) or
Participant in, any of its rights or obligations under this Agreement or (ii) any actual or
prospective counterparty (or its advisors) to any swap or derivative transaction relating to the
Loan Parties and their obligations, (g) with the consent of the U.S. Borrower or (h) to the extent
such Information (x) becomes publicly available other than as a result of a breach of this Section
or (y) becomes available to any Agent, any Issuing Bank or any Lender on a non-confidential basis
from a source other than the Borrower. For purposes of this Section, “Information” means
all information received from any Loan Party relating to any Loan Party or any of their respective
businesses, other than any such information that is available to an Agent, an Issuing Bank or any
Lender on a non-confidential basis prior to disclosure by any Loan Party, provided that, in the
case of information received from a Loan Party after the date hereof, such information is clearly
identified at the time of delivery as confidential. Any person required to maintain the
confidentiality of Information as provided in this Section shall be considered to

-129-

 

have complied
with its obligation to do so if such person has exercised the same degree of care to maintain the
confidentiality of such Information as such person would accord to its own confidential
information.

     SECTION 9.17 Judgment Currency. (a) The obligations of the Borrowers and the other Loan
Parties hereunder and under the other Loan Documents to make payments in U.S. dollars or Canadian
dollars (the “Obligation Currency”) shall not be discharged or satisfied by any tender or recovery
pursuant to any judgment expressed in or converted into any currency other than the Obligation
Currency, except to the extent that such tender or recovery results in the effective receipt by the
Applicable Administrative Agent or a Lender or an Issuing Bank of the full amount of the Obligation
Currency expressed to be payable to such Administrative Agent, Lender or Issuing Bank under this
Agreement or the other Loan Documents. If, for the purpose of obtaining or enforcing judgment
against a Borrower or any other Loan Party or in any court or in any jurisdiction, it becomes
necessary to convert into or from any currency other than the Obligation Currency (such other
currency being hereinafter referred to as the “Judgment Currency”) an amount due in the Obligation
Currency, the conversion shall be made at the Canadian Dollar Equivalent or U.S. Dollar Equivalent,
or, in the case of other currencies, the rate of exchange (as quoted by the Administrative Agent or
if the Administrative Agent does not quote a rate of exchange on such currency, by a known dealer
in such currency designated by the Administrative Agent) determined, in each case, as of the date
immediately preceding the day on which the judgment is given (such Business Day being hereinafter
referred to as the “Judgment Currency Conversion Date”).

     (b) If there is a change in the rate of exchange prevailing between the Judgment Currency
Conversion Date and the date of actual payment of the amount due, each Borrower covenants and
agrees to pay, or cause to be paid, as a separate obligation and notwithstanding any judgment, such
additional amounts, if any (but in any event not a lesser amount), as may be necessary to ensure
that the amount paid in the Judgment Currency, when converted at the rate of exchange prevailing on
the date of payment, will produce the amount of the Obligation Currency which could have been
purchased with the amount of Judgment Currency stipulated in the judgment or judicial award at the
rate of exchange prevailing on the Judgment Currency Conversion Date.

     (c) For purposes of determining the Canadian Dollar Equivalent or U.S. Dollar Equivalent
or rate of exchange for this Section, such amounts shall include any premium and costs payable in
connection with the purchase of the Obligation Currency.

     SECTION 9.18 Exculpation Provisions. EACH OF THE PARTIES HERETO SPECIFICALLY AGREES THAT
IT HAS A DUTY TO READ THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND AGREES THAT IT IS CHARGED
WITH NOTICE AND KNOWLEDGE OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; THAT IT HAS
IN FACT READ THIS AGREEMENT AND IS FULLY INFORMED AND HAS FULL NOTICE AND KNOWLEDGE OF THE TERMS,
CONDITIONS AND EFFECTS OF THIS AGREEMENT; THAT IT HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL
OF ITS CHOICE THROUGHOUT THE NEGOTIATIONS PRECEDING ITS EXECUTION OF THIS AGREEMENT AND THE OTHER
LOAN DOCUMENTS; AND HAS RECEIVED THE ADVICE OF ITS ATTORNEY

-130-

 

IN ENTERING INTO THIS AGREEMENT AND THE
OTHER LOAN DOCUMENTS; AND THAT IT RECOGNIZES THAT CERTAIN OF THE TERMS OF THIS AGREEMENT AND THE
OTHER LOAN DOCUMENTS RESULT IN ONE PARTY ASSUMING THE LIABILITY INHERENT IN SOME ASPECTS OF THE
TRANSACTION AND RELIEVING THE OTHER PARTY OF ITS RESPONSIBILITY FOR SUCH LIABILITY. EACH PARTY
HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE VALIDITY OR ENFORCEABILITY OF ANY
EXCULPATORY PROVISION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS ON THE BASIS THAT THE PARTY
HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT THE PROVISION IS NOT “CONSPICUOUS.”

     SECTION 9.19 Payments Set Aside. To the extent that any payment by or on behalf of any
Loan Party is made to any Agent, Issuing Bank or Lender, or any Agent, Issuing Bank or Lender
exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof
is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by such Agent, Issuing Bank or Lender in its
discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Insolvency Law or otherwise, then (a) to the extent of such recovery, the
obligation or part thereof originally intended to be satisfied shall be revived and continued in
full force and effect as if such payment had not been made or such setoff had not occurred, and (b)
each Lender and Issuing Bank severally agrees to pay to the Applicable Administrative Agent upon
demand its applicable share (without duplication) of any amount so recovered from or repaid by the
Applicable Administrative Agent, plus interest thereon from the date of such demand to the date
such payment is made at a rate per annum equal to the applicable overnight rate from time to time
in effect, in the applicable currency of such recovery or payment. The obligations of the Lenders
and the Issuing Bank under clause (b) of the preceding sentence shall survive the payment in full
of the Obligations and the termination of this Agreement.

     SECTION 9.20 Termination. This Agreement and each other Loan Document, and the covenants
and agreements set forth herein and therein, and, in the case of any Security Document, all
security interests and other Liens created thereunder, shall terminate upon the payment in full of
all principal of and any accrued interest on any Loan and all Fees and other amounts payable under
this Agreement, the termination or expiration of all Letters of Credit and the termination or
expiration of the Commitments; provided that the provisions of Sections 2.13, 2.15, 2.19, and 9.05
and Article VIII, and any other provision set forth herein or therein that by its terms survives
the termination of this Agreement or such other Loan Document, shall survive and remain in full
force and effect.

     SECTION 9.21 Patriot Act Notice. Each Lender hereby notifies Borrower that pursuant to
the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Patriot Act”), it is required to obtain, verify and record information that
identifies such Borrower, which information includes the name and address of such Borrower and
other information that will allow such Lender to identify such Borrower in accordance with the
Patriot Act.

     SECTION 9.22 Amendment and Restatement. The parties hereto have agreed that this
Agreement is an amendment and restatement of the Existing Credit Agreement in its entirety

-131-

 

and the
terms and provisions hereof supersede the terms and provisions thereof, and this Agreement is not a
new or substitute credit agreement or novation of the Existing Credit Agreement. All the rights,
titles, liens, security interests, and assignments securing the Obligations (as defined in the
Existing Credit Agreement) shall secure the Obligations, insofar and only insofar as the same cover
the Collateral, and all liens, security interests, and assignments against the Collateral securing
the Obligations (as defined in the Existing Credit Agreement) are hereby renewed, extended, and
modified to secure the Obligations.

[Remainder of this page intentionally left blank. Signature pages follow.]

-132-

 

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

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL, INC.

 	 
	 	By:  	/s/ Bradley J. Dodson
 	 
	 	 	Name:  	Bradley J. Dodson 	 
	 	 	Title:  	Senior Vice President, Chief Financial
Officer and Treasurer 	 
	 

	 	 	 	 	 
	 	PTI GROUP INC.

PTI PREMIUM CAMP SERVICES LTD.

 	 
	 	By:  	/s/ Lias J. Steen
 	 
	 	 	Name:  	Lias J. Steen 	 
	 	 	Title:  	Vice President and Assistant Secretary 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A., as a U.S. Lender and

Administrative Agent

 	 
	 	By:  	/s/ Sarah Sandercock
 	 
	 	 	Name:  	Sarah Sandercock 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	WELLS FARGO FINANCIAL CORPORATION
 CANADA,
 as a
Canadian Lender

 	 
	 	By:  	/s/  Paul D. Young
 	 
	 	 	Name:  	Paul D. Young 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as Canadian
 Administrative
Agent

 	 
	 	By:  	 /s/ Susan Khokher
 	 
	 	 	Name:  	Susan Khokher 	 
	 	 	Title:  	Manager, Agency Services Group 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a U.S. Lender

 	 
	 	By:  	/s/ Jay T. Sartain
 	 
	 	 	Name:  	Jay T. Sartain 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	

ROYAL BANK OF CANADA, as a Canadian Lender

 	 
	 	By:  	/s/ Sonia G. Tibbatts
 	 
	 	 	Name:  	Sonia g. Tibbatts 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a U.S. Lender

 	 
	 	By:  	/s/ Thomas Okamoto
 	 
	 	 	Name:  	Thomas Okamoto 	 
	 	 	Title:  	Senior Underwriter 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

 TORONTO BRANCH, as a
Canadian Lender

 	 
	 	By:  	/s/  Michael N. Tam
 	 
	 	 	Name:  	Michael N. Tam 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA, as a U.S.

 Lender and a
Canadian Lender

 	 
	 	By:  	/s/  John Frazell
 	 
	 	 	Name:  	John Frazell 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	TORONTO DOMINION (TEXAS) LLC, as a U.S. Lender

 	 
	 	By:  	/s/  Debbi L. Brito
 	 
	 	 	Name:  	Debbi L. Brito 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	THE TORONTO-DOMINION BANK, as a Canadian Lender

 	 
	 	By:  	/s/ Joe Seidel
 	 
	 	 	Name:  	Joe Seidel 	 
	 	 	Title:  	AVP Credit 	 

	 	 	 	 	 
	 	By:  	                                                 /s/  Jason Ushkowski
 	 
	 	 	Name:  	Jason Ushkowski 	 
	 	 	Title:  	Analyst, Commercial National Accounts 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	DNB NOR BANK ASA, NEW YORK BRANCH, as a
 U.S.
Lender and a Canadian Lender

 	 
	 	By:  	/s/ Nikolai A. Nachamkin
 	 
	 	 	Name:  	Nikolai A. Nachamkin 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	DNB NOR BANK ASA, NEW YORK BRANCH, as a
 U.S.
Lender and a Canadian Lender

 	 
	 	By:  	/s/ Giacomo Landi
 	 
	 	 	Name:  	Giacomo Landi 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a U.S. Lender

 	 
	 	By:  	/s/  Gary L. Mingle
 	 
	 	 	Name:  	Gary L. Mingle 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., acting through its Canada

Branch, as a Canadian Lender

 	 
	 	By:  	/s/  Medina Sales de Andrade
 	 
	 	 	Name:  	Medina Sales de Andrade 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	HSBC BANK USA, N.A., as a U.S. Lender

 	 
	 	By:  	/s/  Bruce C. Robinson
 	 
	 	 	Name:  	Bruce C. Robinson 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	HSBC BANK CANADA, as a Canadian Lender

 	 
	 	By:  	/s/  Andrew McPherson
 	 
	 	 	Name:  	Andrew McPherson 	 
	 	 	Title:  	Vice President, Commercial Banking 	 

	 	 	 	 	 
	 	By:  	                                                 /s/  Keith Peters
 	 
	 	 	Name:  	Keith Peters 	 
	 	 	Title:  	Assistant Vice President,
Commercial Financial Services 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 
as a
U.S. Lender

 	 
	 	By:  	/s/  Karl M. Studer
 	 
	 	 	Name:  	Karl M. Studer 	 
	 	 	Title:  	Director 	 
	 
	 	By:  	                                                 /s/  Vipul Dhadda
 	 
	 	 	Name:  	Vipul Dhadda 	 
	 	 	Title:  	Associate 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, TORONTO BRANCH, as a
 Canadian
Lender

 	 
	 	By:  	/s/  Alain Daoust
 	 
	 	 	Name:  	Alain Daoust 	 
	 	 	Title:  	Director 	 

	 	 	 	 	 
	 	By:  	                                                 /s/  Bruce F. Wetherly
 	 
	 	 	Name:  	Bruce F. Wetherly 	 
	 	 	Title:  	Director and Principal Officer 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK, as a U.S. Lender

 	 
	 	By:  	/s/  Neil G. Mesch
 	 
	 	 	Name:  	Neil G. Mesch 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION, as a
 U.S.
Lender

 	 
	 	By:  	/s/  William M. Ginn
 	 
	 	 	Name:  	William M. Ginn 	 
	 	 	Title:  	General Manager 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION OF
 CANADA, as
a Canadian Lender

 
	 	By:  	/s/  Alfred Lee
 	 
	 	 	Name:  	Alfred Lee 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	NATIXIS, NEW YORK BRANCH, as a U.S. Lender and a

Canadian Lender

 	 
	 	By:  	/s/  Carlos Quinteros
 	 
	 	 	Name:  	Carlos Quinteros 	 
	 	 	Title:  	Managing Director 	 

	 	 	 	 	 
	 	By:  	                                                 /s/  Louis P. Laville, III
 	 
	 	 	Name:  	Louis P. Laville, III 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a U.S. Lender

 	 
	 	By:  	/s/  John T. Prigge
 	 
	 	 	Name:  	John T. Prigge 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a Canadian

Lender

 	 
	 	By:  	/s/  Joseph Rauhala
 	 
	 	 	Name:  	Joseph Rauhala 	 
	 	 	Title:  	Principal Officer 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	CAPITAL ONE, N.A., as a U.S. Lender

 	 
	 	By:  	/s/  Peter Shen
 	 
	 	 	Name:  	Peter Shen 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC, as a U.S. Lender and a

Canadian Lender

 	 
	 	By:  	/s/  Louise Brechin
 	 
	 	 	Name:  	Louise Brechin 	 
	 	 	Title:  	Relationship Director 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	COMERICA BANK, as a U.S. Lender

 	 
	 	By:  	/s/  Gary Culbertson
 	 
	 	 	Name:  	Gary Culbertson 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	COMERICA BANK, a Texas banking association and

foreign authorized bank under the Bank Act

(Canada), as a Canadian Lender

 	 
	 	By:  	/s/  Omer Ahmed
 	 
	 	 	Name:  	Omer Ahmed 	 
	 	 	Title:  	Portfolio Manager 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	AMEGY BANK NATIONAL ASSOCIATION, as a U.S. Lender

 	 
	 	By:  	/s/  Kenyatta Gibbs
 	 
	 	 	Name:  	Kenyatta Gibbs 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	NATIONAL AUSTRALIA BANK LIMITED, as a U.S. Lender

 	 
	 	By:  	/s/  Courtney A. Cloe
 	 
	 	 	Name:  	Courtney A. Cloe 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a
 U.S.
Lender

 
	 	By:  	/s/  William S. Rogers
 	 
	 	 	Name:  	William S. Rogers 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Amended and Restated Credit Agreement

Oil States International, Inc., PTI Group Inc. and PTI Premium Camp Services Ltd.

 

 

	 	 	 	 	 
	 	BANK OF TOKYO-MITSUBISHI UFJ (CANADA), as a

Canadian Lender

 	 
	 	By:  	/s/  Hirokazu Marula
 	 
	 	 	Name:  	Hirokazu Marula 	 
	 	 	Title:  	EVP & General Manager, Vancouver Office 	 
	 

 

 

EXHIBIT B

[Form of]

ASSIGNMENT AND ACCEPTANCE

This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the Effective Date
set forth below and is entered into by and between [the][each]1 Assignor identified in
item 1 below ([the][each, an] “Assignor”) and [the][each]2 Assignee identified in item 2
below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations
of [the Assignors][the Assignees]3 hereunder are several and not joint.]4
Capitalized terms used but not defined herein shall have the meanings given to them in the Credit
Agreement identified below (as amended, supplemented, restated or otherwise modified from time to
time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each]
Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed
to and incorporated herein by reference and made a part of this Assignment and Acceptance as if set
forth herein in full.

For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the
Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and
assumes from [the Assignor][the respective Assignors], subject to and in accordance with the
Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’]
rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under
the Credit Agreement and any other documents or instruments delivered pursuant thereto to the
extent related to the amount and percentage interest identified below of all of such outstanding
rights and obligations of [the Assignor][the respective Assignors] under the respective facilities
identified below (including without limitation any letters of credit, guarantees and swingline
loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable
law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a
Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person,
whether known or unknown, arising under or in connection with the Credit Agreement, any other
documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in
any way based on or related to any of the foregoing, including, but not limited to, contract
claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity
related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights
and obligations sold and assigned by [the][any] Assignor

 

			
	1	 	For bracketed language here and elsewhere
in this form relating to the Assignor(s), if the assignment is from a single
Assignor, choose the first bracketed language. If the assignment is from
multiple Assignors, choose the second bracketed language.
	 
	2	 	For bracketed language here and elsewhere
in this form relating to the Assignee(s), if the assignment is to a single
Assignee, choose the first bracketed language. If the assignment is to
multiple Assignees, choose the second bracketed language.
	 
	3	 	Select as appropriate.
	 
	4	 	Include bracketed language if there are either
multiple Assignors or multiple Assignees.

Exhibit
B — Form of Assignment and Acceptance

        Page 1

 

to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively
as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any]
Assignor and, except as expressly provided in this Assignment and Acceptance, without
representation or warranty by [the][any] Assignor.

	 	 	 	 	 	 	 

	1.

	 	Assignor[s]:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	2.

	 	Assignee[s]:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]
	 
	 	 	 	 	 	 
	3.	 	Borrowers:	 	OIL STATES INTERNATIONAL, INC., a Delaware
corporation, PTI GROUP INC., a corporation
amalgamated under the laws of the Province
of Alberta and PTI PREMIUM CAMP SERVICES
LTD., a corporation amalgamated under the
laws of the Province of Alberta
	 
	 	 	 	 	 	 
	4.	 	Administrative Agent:	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as the
administrative agent under the Credit Agreement
	 
	 	 	 	 	 	 
	5.	 	Credit Agreement:	 	The Amended and Restated Credit Agreement
dated as of December 10, 2010 among the
Borrowers, the other agents and lenders
party thereto from time to time, Wells Fargo
Bank, N.A., as Administrative Agent, U.S.
Collateral Agent, the Swing Line Lender and
an Issuing Bank, and Royal Bank of Canada,
as Canadian Administrative Agent and
Canadian Collateral Agent
	 
	 	 	 	 	 	 
	6.

	 	Assigned Interest[s]:	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Aggregate	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	Amount of	 	 	 	 
	 	 	 	 	Facility	 	Commitment/Loans	 	Commitment/	 	Percentage Assigned of	 	CUSIP
	Assignor[s]	 	Assignee[s]	 	Assigned5	 	for all Lenders6	 	Loans Assigned7	 	Commitment/Loans8	 	Number
	 
	 	 
	 	 
	 	$
	 	$
	 	%
	 	  

 

			
	5	 	Fill in the appropriate terminology for
the types of facilities under the Credit Agreement that are being assigned
under this Assignment (e.g. “Revolving Credit Commitment,” “Term Loan
Commitment,” etc.)
	 
	6	 	Amount to be adjusted by the
counterparties to take into account any payments or prepayments made between
the Trade Date and the Effective Date.
	 
	7	 	Amount to be adjusted by the
counterparties to take into account any payments or prepayments made between
the Trade Date and the Effective Date.
	 
	8	 	Set forth, to at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.

 Exhibit B — Form of Assignment and Acceptance

        Page 2

 

			
	7.	 	Trade Date: ______________9

Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

			
	9	 	To be completed if the Assignor(s) and
the Assignee(s) intend that the minimum assignment amount is to be determined
as of the Trade Date.

 Exhibit B — Form of Assignment and Acceptance

        Page 3

 

The terms set forth in this Assignment and Acceptance are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR[S]10

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ASSIGNEE[S]

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	10	 	Add additional signature blocks as
needed.

Exhibit B
— Form of Assignment and Acceptance  

Page 4

 

[Consented to and] 11 Accepted:

	 	 	 	 	 	 	 

	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 	 
	as Administrative Agent, U.S. Collateral Agent,	 	 
	the Swing Line Lender and an Issuing Bank	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	[Consented to:] 12	 	 
	 
	 	 	 	 	 	 
	[NAME OF RELEVANT PARTY]	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

 

			
	11	 	To be added only if the consent of the
Administrative Agent and the Issuing Lender is required by the terms of the
Credit Agreement.
	 
	12	 	To be added only if the consent of the
Borrower and/or other parties (e.g. Swingline Lender, Issuing Bank) is required
by the terms of the Credit Agreement.

Exhibit B
— Form of Assignment and Acceptance  

Page 5

 

ANNEX 1

To Exhibit B — Assignment and Acceptance

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ACCEPTANCE

1. Representations and Warranties.

1.1 Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of [the][the relevant] Assigned Interest, (ii) [the][such] Assigned Interest
is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and
Acceptance and to consummate the transactions contemplated hereby; and (b) assumes no
responsibility with respect to (i) any statements, warranties or representations made in or in
connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or
any other Person obligated in respect of any Loan Document or (iv) the performance or observance by
the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document.

1.2. Assignee[s]. [The][Each] Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and
Acceptance and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 9.04 of the
Credit Agreement (subject to such consents, if any, as may be required under Section 9.04 of the
Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect
to decisions to acquire assets of the type represented by the Assigned Interest and either it, or
the person exercising discretion in making its decision to acquire the Assigned Interest, is
experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement,
and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 3.05 or Section 5.06 thereof, as applicable, and
such other documents and information as it deems appropriate to make its own credit analysis and
decision to enter into this Assignment and Acceptance and to purchase [the][such] Assigned
Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any
other Lender and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Assignment and Acceptance and to purchase
[the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached to the Assignment and
Acceptance is any documentation required to be delivered by it pursuant to the terms of the Credit
Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will,
independently and without reliance on the Administrative Agent, [the][any] Assignor or any other
Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Loan Documents,
and (ii) it will perform in accordance with their terms

Exhibit B
— Form of Assignment and Acceptance  

Page 6

 

all of the obligations which by the terms of the Loan Documents are required to be performed by it
as a Lender.

2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the][each] Assigned Interest (including payments of principal, interest,
fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but
excluding the Effective Date and to [the][the relevant] Assignee for amounts which have accrued
from and after the Effective Date.13

3. General Provisions. This Assignment and Acceptance shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and assigns. This Assignment
and Acceptance may be executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Acceptance by telecopy shall be effective as delivery of a manually executed counterpart of this
Assignment and Acceptance. This Assignment and Acceptance shall be governed by, and construed in
accordance with, the law of the State of New York.

 

			
	13	 	The Administrative Agent should consider
whether this method conforms to its systems. In some circumstances, the
following alternative language may be appropriate:

          “From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the][each] Assigned Interest (including payments of
principal, interest, fees and other amounts) to [the][the relevant] Assignee
whether such amounts have accrued prior to, on or after the Effective Date.
The Assignor[s] and the Assignee[s] shall make all appropriate adjustments in
payments by the Administrative Agent for periods prior to the Effective Date or
with respect to the making of this assignment directly between themselves.”

Exhibit B
— Form of Assignment and Acceptance  

Page 7

 

EXHIBIT C-1

[Form of]

U.S. BORROWING REQUEST

Wells Fargo Bank, National Association, as Administrative Agent for

the Lenders referred to below,

1000 Louisiana Street

Houston, Texas 77002

Attention of Agency Group

[Date]

Ladies and Gentlemen:

     The undersigned, Oil States International, Inc. (the “U.S. Borrower”), refers to the Amended
and Restated Credit Agreement dated as of December 10,2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Oil States International, Inc. (the
“U.S. Borrower”), PTI Group Inc., PTI Premium Camp Services Ltd., the lenders from time to time
party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as administrative agent
(in such capacity, the “Administrative Agent”) and collateral agent for the Lenders, and Royal Bank
of Canada (“RBC”), as administrative agent and collateral agent for the Canadian Lenders.
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to
such terms in the Credit Agreement. The U.S. Borrower hereby gives you notice pursuant to Section
2.03 of the Credit Agreement that it requests a Borrowing of U.S. Loans under the Credit Agreement,
and in that connection sets forth below the terms on which such Borrowing is requested to be made:

	 	 	 	 	 	 	 

	(A)

	 	Date of Borrowing 
(which is a Business Day)
	 	 

	 	 
	 
	 	 	 	 	 	 
	(B)

	 	Principal Amount of

 Borrowing1	 	 
	 	 
	 
	 	 	 	 	 	 

	(C)

	 	Revolving or Term2	 	 
	 	 
	 
	 	 	 	 	 	 
	(D)

	 	Type of Borrowing3	 	 
	 	 
	 
	 	 	 	 	 	 
	(D)

	 	Interest Period and the last
 day thereof4
	 	 

	 	 

 

			
	1	 	For an ABR Borrowing, in U.S. dollars not
less than U.S.$500,000 and in an integral multiple of U.S.$100,000, and for an
Eurocurrency Borrowing, in U.S. dollars not less than U.S. $3,000,000 and in an
integral multiple of $1,000,000, but in any event not exceeding the available
Total U.S. Revolving Commitment.
	 
	2	 	Specify U.S. Revolving Borrowing or U.S.
Term Borrowing.
	 
	3	 	Specify Eurocurrency Borrowing or ABR
Borrowing.
	 
	4	 	Which shall be subject to the definition of
“Interest Period” and end not later than the Maturity Date (applicable for
Eurocurrency Borrowings only).

Exhibit C-1 — Form of U.S. Borrowing Request

Page 1

 

	 	 	 	 	 	 	 

	(E)	 	Funds are requested to be disbursed to the U.S. Borrower’s account with:	 	 
	 
	 	 	 	 	 	 
	 

	 	     Bank Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	     Bank Address:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	     Account Number:	 	 	 	 
	 

	 	 	 	 

	 	 

     The U.S. Borrower hereby represents and warrants to the Agents and the Lenders that, on the
date of this Borrowing Request and on the date of the related Borrowing, the conditions to lending
specified in Sections 4.01(b) and (c) of the Credit Agreement have been satisfied.

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL, INC.,

 	 
	 	by: 	
 	 
	 	 	Name:  	 	 
	 	  	Title:	 [Responsible Officer] 	 
	 

Exhibit C-1 — Form of U.S. Borrowing Request

Page 2

 

EXHIBIT C-2

[Form of]

CANADIAN BORROWING REQUEST

Royal Bank of Canada, as Canadian Administrative Agent for

the Canadian Lenders referred to below,

200 Bay Street, 12th Floor

Royal Bank Plaza

P.O. Box 50

Toronto, Ontario M5J 2W7

Canada

Attention of Agency Administration

[Date]

Ladies and Gentlemen:

     The undersigned, [PTI Group Inc.][PTI Premium Camp Services Ltd.], refers to the Amended and
Restated Credit Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Oil States International, Inc., PTI
Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd. (“PTI Premium” and together with
the Canadian Parent, the “Canadian Borrowers”), the lenders from time to time party thereto (the
“Lenders”) and Wells Fargo Bank, National Association, as administrative agent and collateral agent
for the Lenders, and Royal Bank of Canada (“RBC”), as administrative agent (in such capacity, the
“Canadian Administrative Agent”), and collateral agent for the Canadian Lenders. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement. [The Canadian Parent][PTI Premium][The Canadian Parent, on behalf of PTI
Premium,] hereby gives you notice pursuant to Section 2.03 of the Credit Agreement that it requests
a Borrowing of Canadian Loans under the Credit Agreement, and in that connection sets forth below
the terms on which such Borrowing is requested to be made:

	 	 	 	 	 	 	 

	(A)

	 	Date of Borrowing 

(which is a Business Day)
	 	 

	 	 
	 
	 	 	 	 	 	 
	(B)

	 	Principal Amount

 of Borrowing1
	 	 

	 	 

 

			
	1	 	In an amount that is (i) in the case of
Canadian dollar-denominated Loans, an integral multiple of C$100,000 and in a
minimum amount of C$1,000,000, (ii) in the case of U.S. Base Rate Loans, an
integral multiple of U.S.$100,000 and in a minimum amount of U.S.$500,000, or
(iii) in the case of Eurocurrency Loans, an integral multiple of U.S.
$1,000,000 and in a minimum amount of U.S. $3,000,000, but in any event not
exceeding the Total Canadian Revolving Commitment.

Exhibit C-2 - Form of Canadian  Borrowing Request

Page 1

 

	 	 	 	 	 	 	 

	(C)

	 	Revolving or
Term2
	 	 

	 	 
	 
	 	 	 	 	 	 
	(D)

	 	Type of
Borrowing3	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	(E)

	 	Contract
Period4
or 

Interest Period5 and 

the last day thereof	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	(F)	 	Funds are requested to be disbursed to the Canadian Borrowers’ account[s] with:	 	 
	 
	 	 	 	 	 	 
	 

	 	     
Bank
Name:  
	 	 
	 
	 	 	 	 	 	 
	 

	 	     
Bank
Address:  
	 	 
	 
	 	 	 	 	 	 
	 

	 	     
Account Number:

	 	 

     The undersigned Canadian Borrower hereby represents and warrants to the Agents and the Lenders
that, on the date of this Borrowing Request and on the date of the related Borrowing, the
conditions to lending specified in Sections 4.01(b) and (c) of the Credit Agreement have been
satisfied.

	 	 	 	 	 
	 	[PTI GROUP INC.

 	 
	 	by:
	 	 	 
	 	 	Name:  	 	 
	 	  	Title:	 [Responsible Officer]] 
	 
	 	[PTI PREMIUM CAMP SERVICES LTD.

 	 
	 	by:
	 	 	 
	 	 	Name:  	 	 
	 	  	Title:	 [Responsible Officer]] 	 
	 

 

			
	2	 	Specify Canadian Revolving Borrowing or
Canadian Term Borrowing
	 
	3	 	Specify B/A Borrowing, Canadian Prime Rate
Borrowing, U.S. Base Rate Borrowing or Eurocurrency Borrowing.
	 
	4	 	Which shall be subject to the definition of
“Contract Period” and end not later than the Maturity Date (applicable for B/A
Borrowings only).
	 
	5	 	Which shall be subject to the definition of
“Interest Period” and end not later than the Maturity Date (applicable for
Eurocurrency Borrowings only).

Exhibit C-2 — Form of Canadian Borrowing Request

Page 2

 

EXHIBIT C-3

[FORM OF]

SWING LINE BORROWING REQUEST

[Wells Fargo Bank, National Association, as Administrative Agent for

the Lenders referred to below,

1000 Louisiana Street

Houston, Texas 77002]

[Royal Bank of Canada, as Canadian Administrative Agent for

the Canadian Lenders referred to below,

200 Bay Street, 12th Floor

Royal Bank Plaza

P.O. Box 50

Toronto, Ontario M5J 2W7

Canada]

Attention of Agency Group

[Date]

Ladies and Gentlemen:

     The undersigned, [Oil States International, Inc. (the “U.S. Borrower”)][PTI Group Inc.(the
“Canadian Parent”)][PTI Premium Camp Services Ltd. (“PTI Premium”)], refers to the Amended and
Restated Credit Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Oil States International, Inc, PTI Group
Inc., PTI Premium Camp Services Ltd., the lenders from time to time party thereto (the “Lenders”),
Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) and collateral agent for the Lenders, and Royal Bank of Canada (“RBC”), as
administrative agent and collateral agent for the Canadian Lenders (the “Canadian Administrative
Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement. The [U.S. Borrower][the Canadian Parent][PTI
Premium] hereby gives you notice pursuant to Section 2.23 of the Credit Agreement that it requests
a [U.S. Swing Line Borrowing of U.S. Loans][Canadian Swing Line Borrowing of Canadian Loans] under
the Credit Agreement, and in that connection sets forth below the terms on which such Borrowing is
requested to be made:

	(A)	 	Date of Borrowing
	 	 	(which is a Business Day) ______________________

Exhibit C-3 — Form of Swing Line Borrowing Request

Page 1

 

	(B)	 	Principal Amount of
	 
	 	 	Borrowing1 ______________________

	(C)	 	Funds are requested to be disbursed to the [U.S. Borrower’s][the Canadian Parent’s][PTI Premium’s] account with:

	 	 	 	 	 	 	 

	 

	 	Bank Name:

	 	 
	 
	 	 	 	 	 	 
	 

	 	Bank Address:

	 	 
	 
	 	 	 	 	 	 
	 

	 	Account
Number:
	 	 
	 

	 	 	 	 

	 	 

     The [U.S. Borrower][the Canadian Parent][PTI Premium] hereby represents and warrants to the
Agents and the Lenders that, on the date of this Swing Line Borrowing Request and on the date of
the related Borrowing, the conditions to lending specified in Sections 4.01(b) and (c) of the
Credit Agreement have been satisfied.

	 	 	 	 	 
	 	[OIL STATES INTERNATIONAL, INC.,

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	[Responsible Officer]] 	 
	 
	 	[PTI GROUP INC.,

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	[Responsible Officer]] 	 
	 
	 	[PTI PREMIUM CAMP SERVICES LTD.,

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	[Responsible Officer]] 	 
	 

 

			
	1	 	In U.S. dollars not less than U.S.$100,000
(except as otherwise set forth in any AutoBorrow Agreement), but in any event
not exceeding the available Total [U.S.][Canadian] Revolving Commitment.

 Exhibit C-3 — Form of Swing Line Borrowing Request

Page 2

 

EXHIBIT E-1

[Form of]

AMENDED AND RESTATED U.S. PLEDGE AGREEMENT

     AMENDED AND RESTATED U.S. PLEDGE AGREEMENT dated as of December 10, 2010 (the “Agreement”),
among OIL STATES INTERNATIONAL, INC., a Delaware corporation (the “U.S. Borrower”), each Subsidiary
of the U.S. Borrower listed on Schedule I hereto (each such Subsidiary individually a “Subsidiary
Pledgor” and collectively, the “Subsidiary Pledgors”; the U.S. Borrower and the Subsidiary Pledgors
are referred to collectively herein as the “Pledgors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION,
as collateral agent (in such capacity, the “U.S. Collateral Agent”) for the Secured Parties.

     Reference is made to (a) the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd.
(“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together with
the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto (the “Lenders”),
Wells Fargo, as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders
and as U.S. Collateral Agent, and Royal Bank of Canada (“RBC”), as administrative agent and
Canadian Collateral Agent for the Canadian Lenders, (b) the Amended and Restated U.S. Subsidiary
Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise modified
from time to time, the “U.S. Subsidiary Guarantee Agreement”), among the Subsidiary Pledgors and
the U.S. Collateral Agent and (c) the Amended and Restated U.S. Borrower Guarantee Agreement dated
as of December 10, 2010 (as amended, modified or supplemented from time to time, the “U.S. Borrower
Guarantee Agreement” and, together with the U.S. Subsidiary Guarantee Agreement, the “Guarantee
Agreements”), between the U.S. Borrower and the U.S. Collateral Agent. Capitalized terms used
herein and not defined herein shall have the meanings assigned to such terms in the Credit
Agreement.

     The Pledgors and the U.S. Collateral Agent are parties to that certain U.S. Pledge Agreement
dated as of October 30, 2003 (as heretofore amended, restated and otherwise modified, the “Existing
U.S. Pledge Agreement”).

     The Lenders have agreed to make Loans to the Borrowers and the Issuing Banks have agreed to
issue Letters of Credit for the account of the Borrowers, pursuant to, and upon the terms and
subject to the conditions specified in, the Credit Agreement. The U.S. Subsidiary Guarantors have
agreed to guarantee, among other things, all the obligations of the Borrowers under the Credit
Agreement. The U.S. Borrower has agreed to guarantee, among other things, all the obligations of
the Canadian Borrowers under the Credit Agreement. The obligations of the Lenders to make Loans
and of the Issuing Banks to issue Letters of Credit are conditioned upon, among other things, the
execution and delivery by the Pledgors of an Agreement in the form hereof to secure (a) the due and
punctual payment by the Borrowers of (i) the principal of and premium, if any, and interest
(including interest accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 1

 

in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon
one or more dates set for prepayment or otherwise, (ii) each payment required to be made by any
Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including
payments in respect of reimbursement of disbursements, interest thereon and obligations to provide
cash collateral, and (iii) all other monetary obligations, including fees, costs, expenses and
indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such proceeding), of the
Borrowers to the Secured Parties under the Credit Agreement and the other Loan Documents, (b) the
due and punctual performance of all covenants, agreements, obligations and liabilities of the
Borrowers under or pursuant to the Credit Agreement and the other Loan Documents, (c) the due and
punctual payment and performance of all the covenants, agreements, obligations and liabilities of
each other Loan Party under or pursuant to the Loan Documents, (d) the due and punctual payment and
performance of all obligations of the Borrowers under each Hedging Agreement entered into with any
counterparty that was a Lender (or an Affiliate of a Lender) at the time such Hedging Agreement was
entered into and (e) the due and punctual performance of Banking Services Obligations provided to
the Borrowers or any Subsidiary by any Lender or any Affiliate of a Lender (all the monetary and
other obligations referred to in the preceding clauses (a) through (e) being referred to
collectively as the “Obligations”).

     Accordingly, the Pledgors and the U.S. Collateral Agent, on behalf of themselves and each
Secured Party (and each of their respective successors or assigns), hereby (a) agree that the
Existing U.S. Pledge Agreement is amended and restated in its entirety by this Agreement and (b)
further agree as follows:

     SECTION 1. Pledge. As security for the payment and performance, as the case may be, in full
of the Obligations, each Pledgor hereby transfers, grants, bargains, sells, conveys, hypothecates,
pledges, sets over and delivers unto the U.S. Collateral Agent, its successors and assigns, and
hereby grants to the U.S. Collateral Agent, its successors and assigns, for the ratable benefit of
the Secured Parties, a security interest in, all of such Pledgor’s right, title and interest in, to
and under (a) the Equity Interests owned by it and listed on Schedule II hereto and any Equity
Interests obtained in the future by such Pledgor and the certificates representing all such Equity
Interests (the “Pledged Stock”); provided that the Pledged Stock shall not include (i) more than
65% of the issued and outstanding voting Equity Interests of any Foreign Subsidiary (other than
3045843 Nova Scotia Company, a Nova Scotia corporation) owned directly by a Pledgor or (ii) to the
extent that applicable law requires that a Subsidiary of such Pledgor issue directors’ qualifying
shares, such qualifying shares and provided that the Pledged Stock shall not include any shares in
the share capital of PTI Premium issued to PTI Mars Holdco 1, LLC pursuant to (i) that certain
Forward Subscription Agreement (Principal) dated on or about the Effective Date, between PTI
Premium, as issuer, and PTI Mars Holdco 1, LLC, as subscriber, and (ii) that certain Forward
Subscription Agreement (Interest) dated on or about the Effective Date, between PTI Premium, as
issuer, and PTI Mars Holdco 1, LLC, as subscriber; (b) all other property that may be delivered to
and held by the U.S. Collateral Agent pursuant to the terms hereof; (c) subject to Section 5
hereof, all payments of dividends, cash, instruments and other property from time to time received,
receivable or otherwise distributed, in respect of, in exchange for or upon the conversion of the
securities referred to in clauses (a) and (b) above; (d) subject to

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 2

 

Section 5 hereof, all rights and privileges of such Pledgor with respect to the securities and other
property referred to in clauses (a), (b), (c) and (d) above; and (e) all proceeds of any of the
foregoing (the items referred to in clauses (a) through (e) above being collectively referred to as
the “Collateral”). Upon delivery to the U.S. Collateral Agent, (a) any stock certificates, notes
or other securities now or hereafter included in the Collateral (the “Pledged Securities”) if
“certificated” (as defined in the UCC) shall be accompanied by stock powers duly executed in blank
or other instruments of transfer satisfactory to the U.S. Collateral Agent and by such other
instruments and documents as the U.S. Collateral Agent may reasonably request and (b) all other
property comprising part of the Collateral shall be accompanied by proper instruments of assignment
or conveying to the Collateral Agent “Control” (as defined in the UCC) duly executed by the
applicable Pledgor and such other instruments or documents as the U.S. Collateral Agent may
reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule
describing the securities theretofore and then being pledged hereunder, which schedule shall be
attached hereto as Schedule II and made a part hereof. Each schedule so delivered shall supersede
any prior schedules so delivered.

     TO HAVE AND TO HOLD the Collateral, together with all right, title, interest, powers,
privileges and preferences pertaining or incidental thereto, unto the U.S. Collateral Agent, its
successors and assigns, for the ratable benefit of the Secured Parties, forever; subject, however,
to the terms, covenants and conditions hereinafter set forth.

     SECTION 2. Delivery of the Collateral. Each Pledgor agrees promptly to deliver or cause to be
delivered to the U.S. Collateral Agent any and all Pledged Securities, and any and all certificates
or other instruments or documents representing the Collateral.

     SECTION 3. Representations, Warranties and Covenants. Each Pledgor hereby represents,
warrants and covenants, as to itself and the Collateral pledged by it hereunder, to and with the
U.S. Collateral Agent that:

     (a) the Pledged Stock represents that percentage as set forth on Schedule II of the issued and
outstanding shares of each class of the Equity Interests of the issuer with respect thereto;

     (b) except for the security interest granted hereunder and as permitted by the Credit
Agreement, such Pledgor (i) is and will at all times continue to be the direct owner, beneficially
and of record, of the Pledged Securities indicated on Schedule II, (ii) holds the same free and
clear of all Liens, (iii) will make no assignment, pledge, hypothecation or transfer of, or create
or permit to exist any security interest in or other Lien on, the Collateral, other than pursuant
hereto except as permitted by the Credit Agreement, and (iv) subject to Section 5 hereof, will
cause any and all Collateral, whether for value paid by such Pledgor or otherwise, to be forthwith
deposited with the U.S. Collateral Agent and pledged or assigned hereunder; and

     (c) such Pledgor (i) has the power and authority to pledge the Collateral in the manner hereby
done or contemplated and (ii) will defend its title or interest thereto or therein against any and
all Liens (other than the Lien created by this Agreement or permitted by the Credit Agreement),
however arising, of all persons whomsoever.

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 3

 

     SECTION 4. Registration in Nominee Name; Denominations. The U.S. Collateral Agent, on behalf
of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the
Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent)
or the name of the Pledgors, endorsed or assigned in blank or in favor of the U.S. Collateral
Agent. Each Pledgor will promptly give to the U.S. Collateral Agent copies of any notices or other
communications received by it with respect to Pledged Securities registered in the name of such
Pledgor. The U.S. Collateral Agent shall at all times have the right to exchange the certificates,
if any, representing Pledged Securities for certificates of smaller or larger denominations for any
purpose consistent with this Agreement.

     SECTION 5. Voting Rights; Dividends and Interest, etc. (a) Unless and until an Event of
Default shall have occurred and be continuing:

     (i) Each Pledgor shall be entitled to exercise any and all voting and/or other
consensual rights and powers inuring to an owner of Pledged Securities or any part thereof
for any purpose consistent with the terms of this Agreement, the Credit Agreement and the
other Loan Documents; provided, however, that such Pledgor will not be entitled to exercise
any such right if the result thereof could materially and adversely affect the rights
inuring to a holder of the Pledged Securities or the rights and remedies of any of the
Secured Parties under this Agreement or the Credit Agreement or any other Loan Document or
the ability of the Secured Parties to exercise the same.

     (ii) The U.S. Collateral Agent shall execute and deliver to each Pledgor, or cause to
be executed and delivered to each Pledgor, all such proxies, powers of attorney and other
instruments as such Pledgor may reasonably request for the purpose of enabling such Pledgor
to exercise the voting and/or consensual rights and powers it is entitled to exercise
pursuant to subparagraph (i) above and to receive the cash dividends it is entitled to
receive pursuant to subparagraph (iii) below.

     (iii) Each Pledgor shall be entitled to receive and retain any and all cash dividends
on the Pledged Securities to the extent and only to the extent that such cash dividends are
permitted by, and otherwise paid in accordance with, the terms and conditions of the Credit
Agreement, the other Loan Documents and applicable laws. All noncash dividends, and all
dividends paid or payable in cash or otherwise in connection with a partial or total
liquidation or dissolution, return of capital, capital surplus or paid-in surplus, and all
other distributions (other than distributions referred to in the preceding sentence) made on
or in respect of the Pledged Securities, whether paid or payable in cash or otherwise,
whether resulting from a subdivision, combination or reclassification of the outstanding
capital stock of the issuer of any Pledged Securities or received in exchange for Pledged
Securities or any part thereof, or in redemption thereof, or as a result of any merger,
consolidation, acquisition or other exchange of assets to which such issuer may be a party
or otherwise, shall be and become part of the Collateral, and, if received by any Pledgor,
shall not be commingled by such Pledgor with any of its other funds or property but shall be
held separate and apart therefrom, shall be held in trust for the benefit of the U.S.
Collateral Agent and shall be forthwith delivered to the U.S. Collateral Agent in the same
form as so received (with any necessary endorsement).

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 4

 

     (b) Upon the occurrence and during the continuance of an Event of Default, all rights of any
Pledgor to dividends that such Pledgor is authorized to receive pursuant to paragraph (a)(iii)
above shall cease, and all such rights shall thereupon become vested in the U.S. Collateral Agent,
which shall have the sole and exclusive right and authority to receive and retain such dividends.
All dividends received by a Pledgor contrary to the provisions of this Section 5 shall be held in
trust for the benefit of the U.S. Collateral Agent, shall be segregated from other property or
funds of such Pledgor and shall be forthwith delivered to the U.S. Collateral Agent upon demand in
the same form as so received (with any necessary endorsement). Any and all money and other property
paid over to or received by the U.S. Collateral Agent pursuant to the provisions of this paragraph
(b) shall be retained by the U.S. Collateral Agent in an account to be established by the U.S.
Collateral Agent upon receipt of such money or other property and shall be applied in accordance
with the provisions of Section 7. After all Events of Default have been cured or waived, the U.S.
Collateral Agent shall, within five Business Days after all such Events of Default have been cured
or waived, repay to each Pledgor all cash dividends (without interest), that such Pledgor would
otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) above and which remain
in such account.

     (c) Upon the occurrence and during the continuance of an Event of Default, all rights of any
Pledgor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant
to paragraph (a)(i) of this Section 5, and the obligations of the U.S. Collateral Agent under
paragraph (a)(ii) of this Section 5, shall cease, and all such rights shall thereupon become vested
in the U.S. Collateral Agent, which shall have the sole and exclusive right and authority to
exercise such voting and consensual rights and powers, provided that, unless otherwise directed by
the Required Lenders, the U.S. Collateral Agent shall have the right from time to time following
and during the continuance of an Event of Default to permit the Pledgors to exercise such rights.
After all Events of Default have been cured or waived, such Pledgor will have the right to exercise
the voting and consensual rights and powers that it would otherwise be entitled to exercise
pursuant to the terms of paragraph (a)(i) above.

     SECTION 6. Remedies upon Default. Upon the occurrence and during the continuance of an Event
of Default, the U.S. Collateral Agent may sell the Collateral, or any part thereof, at public or
private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for
future delivery as the U.S. Collateral Agent shall deem appropriate. The U.S. Collateral Agent
shall be authorized at any such sale (if it deems it advisable to do so) to restrict the
prospective bidders or purchasers to persons who will represent and agree that they are purchasing
the Collateral for their own account for investment and not with a view to the distribution or sale
thereof, and upon consummation of any such sale the U.S. Collateral Agent shall have the right to
assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each
such purchaser at any such sale shall hold the property sold absolutely free from any claim or
right on the part of any Pledgor, and, to the extent permitted by applicable law, the Pledgors
hereby waive all rights of redemption, stay, valuation and appraisal any Pledgor now has or may at
any time in the future have under any rule of law or statute now existing or hereafter enacted.

     The U.S. Collateral Agent shall give a Pledgor 10 days’ prior written notice (which each
Pledgor agrees is reasonable notice within the meaning of the Uniform Commercial Code as in effect
in the State of New York or its equivalent in other jurisdictions) of the Collateral Agent’s

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 5

 

intention to make any sale of such Pledgor’s Collateral. Such notice, in the case of a public
sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board
or on a securities exchange, shall state the board or exchange at which such sale is to be made and
the day on which the Collateral, or portion thereof, will first be offered for sale at such board
or exchange. Any such public sale shall be held at such time or times within ordinary business
hours and at such place or places as the U.S. Collateral Agent may fix and state in the notice of
such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot
as an entirety or in separate parcels, as the U.S. Collateral Agent may (in its sole and absolute
discretion) determine. The U.S. Collateral Agent shall not be obligated to make any sale of any
Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such
Collateral shall have been given. The U.S. Collateral Agent may, without notice or publication,
adjourn any public or private sale or cause the same to be adjourned from time to time by
announcement at the time and place fixed for sale, and such sale may, without further notice, be
made at the time and place to which the same was so adjourned. In case any sale of all or any part
of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained
by the U.S. Collateral Agent until the sale price is paid in full by the purchaser or purchasers
thereof, but the U.S. Collateral Agent shall not incur any liability in case any such purchaser or
purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such
failure, such Collateral may be sold again upon like notice. At any public (or, to the extent
permitted by applicable law, private) sale made pursuant to this Section 6, any Secured Party may
bid for or purchase, free from any right of redemption, stay or appraisal on the part of any
Pledgor (all said rights being also hereby waived and released), the Collateral or any part thereof
offered for sale and may make payment on account thereof by using any claim then due and payable to
it from such Pledgor as a credit against the purchase price, and it may, upon compliance with the
terms of sale, hold, retain and dispose of such property without further accountability to such
Pledgor therefor. For purposes hereof, (a) a written agreement to purchase the Collateral or any
portion thereof shall be treated as a sale thereof, (b) the U.S. Collateral Agent shall be free to
carry out such sale pursuant to such agreement and (c) such Pledgor shall not be entitled to the
return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that
after the U.S. Collateral Agent shall have entered into such an agreement, all Events of Default
shall have been remedied and the Obligations paid in full. As an alternative to exercising the
power of sale herein conferred upon it, the U.S. Collateral Agent may proceed by a suit or suits at
law or in equity to foreclose upon the Collateral and to sell the Collateral or any portion thereof
pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to
a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 6
shall be deemed to conform to the commercially reasonable standards as provided in the Uniform
Commercial Code as in effect in the State of New York or its equivalent in other jurisdictions.

     SECTION 7. Application of Proceeds of Sale. The proceeds of any sale of Collateral pursuant
to Section 6 hereof, as well as any Collateral consisting of cash, shall be applied by the U.S.
Collateral Agent in accordance with Section 7.05 of the Credit Agreement. The Administrative Agent
shall have absolute discretion as to the time of application of any such proceeds, moneys or
balances in accordance with this Agreement and the Credit Agreement. Upon any sale of the
Collateral by the U.S. Collateral Agent (including pursuant to a power of sale granted by statute
or under a judicial proceeding), the receipt of the purchase money by the U.S. Collateral Agent or
of the officer making the sale shall be a sufficient discharge to the

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 6

 

purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not
be obligated to see to the application of any part of the purchase money paid over to the U.S.
Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

     SECTION 8. U.S. Collateral Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints the
U.S. Collateral Agent the attorney-in-fact of such Pledgor for the purpose of carrying out the
provisions of this Agreement and taking any action and executing any instrument that the U.S.
Collateral Agent may deem necessary or advisable to accomplish the purposes hereof, which
appointment is irrevocable and coupled with an interest. Without limiting the generality of the
foregoing, the U.S. Collateral Agent shall have the right, upon the occurrence and during the
continuance of an Event of Default, with full power of substitution either in the U.S. Collateral
Agent’s name or in the name of such Pledgor, to ask for, demand, sue for, collect, receive and give
acquittance for any and all moneys due or to become due under and by virtue of any Collateral, to
endorse checks, drafts, orders and other instruments for the payment of money payable to such
Pledgor representing any interest or dividend or other distribution payable in respect of the
Collateral or any part thereof or on account thereof and to give full discharge for the same, to
settle, compromise, prosecute or defend any action, claim or proceeding with respect thereto, and
to sell, assign, endorse, pledge, transfer and to make any agreement respecting, or otherwise deal
with, the same; provided, however, that nothing herein contained shall be construed as requiring or
obligating the U.S. Collateral Agent to make any commitment or to make any inquiry as to the nature
or sufficiency of any payment received by the U.S. Collateral Agent, or to present or file any
claim or notice, or to take any action with respect to the Collateral or any part thereof or the
moneys due or to become due in respect thereof or any property covered thereby. The U.S.
Collateral Agent and the other Secured Parties shall be accountable only for amounts actually
received as a result of the exercise of the powers granted to them herein, and neither they nor
their officers, directors, employees or agents shall be responsible to any Pledgor for any act or
failure to act hereunder, except for their own gross negligence or wilful misconduct.

     SECTION 9. Waivers; Amendment. (a) No failure or delay of the U.S. Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the U.S. Collateral Agent hereunder and of
the other Secured Parties under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provisions of this
Agreement or consent to any departure by any Pledgor therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. No notice or demand
on any Pledgor in any case shall entitle such Pledgor to any other or further notice or demand in
similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the U.S. Collateral Agent and the Pledgor or
Pledgors with respect to which such waiver, amendment or modification is to apply, subject to any
consent required in accordance with Section 9.08 of the Credit Agreement.

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

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     SECTION 10. Securities Act, etc. In view of the position of the Pledgors in relation to the
Pledged Securities, or because of other current or future circumstances, a question may arise under
the Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted
analogous in purpose or effect (such Act and any such similar statute as from time to time in
effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged
Securities permitted hereunder. Each Pledgor understands that compliance with the Federal
Securities Laws might very strictly limit the course of conduct of the U.S. Collateral Agent if the
U.S. Collateral Agent were to attempt to dispose of all or any part of the Pledged Securities, and
might also limit the extent to which or the manner in which any subsequent transferee of any
Pledged Securities could dispose of the same. Similarly, there may be other legal restrictions or
limitations affecting the U.S. Collateral Agent in any attempt to dispose of all or part of the
Pledged Securities under applicable Blue Sky or other state securities laws or similar laws
analogous in purpose or effect. Each Pledgor recognizes that in light of such restrictions and
limitations the U.S. Collateral Agent may, with respect to any sale of the Pledged Securities,
limit the purchasers to those who will agree, among other things, to acquire such Pledged
Securities for their own account, for investment, and not with a view to the distribution or resale
thereof. Each Pledgor acknowledges and agrees that in light of such restrictions and limitations,
the U.S. Collateral Agent, in its sole and absolute discretion, (a) may proceed to make such a sale
whether or not a registration statement for the purpose of registering such Pledged Securities or
part thereof shall have been filed under the Federal Securities Laws and (b) may approach and
negotiate with a single potential purchaser to effect such sale. Each Pledgor acknowledges and
agrees that any such sale might result in prices and other terms less favorable to the seller than
if such sale were a public sale without such restrictions. In the event of any such sale, the U.S.
Collateral Agent shall incur no responsibility or liability for selling all or any part of the
Pledged Securities at a price that the U.S. Collateral Agent, in its sole and absolute discretion,
may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a
substantially higher price might have been realized if the sale were deferred until after
registration as aforesaid or if more than a single purchaser were approached. The provisions of
this Section 11 will apply notwithstanding the existence of a public or private market upon which
the quotations or sales prices may exceed substantially the price at which the U.S. Collateral
Agent sells.

     SECTION 11. [Intentionally Omitted].

     SECTION 12. Security Interest Absolute. All rights of the U.S. Collateral Agent hereunder,
the grant of a security interest in the Collateral and all obligations of each Pledgor hereunder,
shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of
the Credit Agreement, any other Loan Document, any agreement with respect to any of the Obligations
or any other agreement or instrument relating to any of the foregoing, (b) any change in the time,
manner or place of payment of, or in any other term of, all or any of the Obligations, or any other
amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan
Document or any other agreement or instrument relating to any of the foregoing, (c) any exchange,
release or nonperfection of any other collateral, or any release or amendment or waiver of or
consent to or departure from any guaranty, for all or any of the Obligations or (d) any other
circumstance that might otherwise constitute a defense available to, or a discharge of, any Pledgor
in respect of the Obligations or in respect of this Agreement (other than the indefeasible payment
in full of all the Obligations).

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

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     SECTION 13. Termination or Release. (a) This Agreement and the security interests granted
hereby shall terminate when all the Obligations have been indefeasibly paid in full and the Lenders
have no further commitment to lend under the Credit Agreement, the Aggregate L/C Exposure has been
reduced to zero and the Issuing Banks have no further obligation to issue Letters of Credit under
the Credit Agreement.

     (b) Upon any sale or other transfer by any Pledgor of any Collateral that is permitted under
the Credit Agreement to any person that is not a Pledgor, or, upon the effectiveness of any written
consent to the release of the security interest granted hereby in any Collateral pursuant to
Section 9.08(b) of the Credit Agreement, the security interest in such Collateral shall be
automatically released.

     (c) In connection with any termination or release pursuant to paragraph (a) or (b), the U.S.
Collateral Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all documents
that such Pledgor shall reasonably request to evidence such termination or release. Any execution
and delivery of documents pursuant to this Section 14 shall be without recourse to or warranty by
the U.S. Collateral Agent.

     SECTION 14. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to
any Subsidiary Pledgor shall be given to it in care of the U.S. Borrower.

     SECTION 15. Further Assurances. Each Pledgor agrees to do such further acts and things, and
to execute and deliver such additional conveyances, assignments, agreements and instruments, as the
U.S. Collateral Agent may at any time reasonably request in connection with the administration and
enforcement of this Agreement or with respect to the Collateral or any part thereof or in order
better to assure and confirm unto the U.S. Collateral Agent its rights and remedies hereunder.

     SECTION 16. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any of
the parties hereto is referred to, such reference shall be deemed to include the successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of any Pledgor
that are contained in this Agreement shall bind and inure to the benefit of its successors and
assigns. This Agreement shall become effective as to any Pledgor when a counterpart hereof
executed on behalf of such Pledgor shall have been delivered to the U.S. Collateral Agent and a
counterpart hereof shall have been executed on behalf of the U.S. Collateral Agent, and thereafter
shall be binding upon such Pledgor and the U.S. Collateral Agent and their respective successors
and assigns, and shall inure to the benefit of such Pledgor, the U.S. Collateral Agent and the
other Secured Parties, and their respective successors and assigns, except that no Pledgor shall
have the right to assign its rights hereunder or any interest herein or in the Collateral (and any
such attempted assignment shall be void), except as expressly contemplated by, the Credit
Agreement, this Agreement or the other Loan Documents. If all of the capital stock of a Pledgor is
sold, transferred or otherwise disposed of to a person that is not a Subsidiary of the U.S.
Borrower pursuant to a transaction permitted by Section 6.05 of the Credit Agreement, such Pledgor
shall be released from its obligations under this Agreement without further action. This Agreement
shall be construed as a separate agreement with respect to each Pledgor and may be amended,
modified, supplemented, waived or released with respect to any

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

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Pledgor without the approval of any other Pledgor and without affecting the obligations of any
other Pledgor hereunder.

     SECTION 17. Survival of Agreement; Severability (a) All covenants, agreements,
representations and warranties made by each Pledgor herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Loan Document shall be considered to have been relied upon by the U.S. Collateral Agent and the
other Secured Parties and shall survive the making by the Lenders of the Loans and the issuance of
the Letters of Credit by the Issuing Banks, regardless of any investigation made by the Secured
Parties or on their behalf, and shall continue in full force and effect as long as the principal of
or any accrued interest on any Loan or any other fee or amount payable under this Agreement or any
other Loan Document is outstanding and unpaid or the Aggregate L/C Exposure does not equal zero and
as long as the Commitments and the commitments of the Issuing Banks to issue Letters of Credit have
not been terminated.

     (b) In the event any one or more of the provisions contained in this Agreement should be held
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired thereby (it
being understood that the invalidity of a particular provision in a particular jurisdiction shall
not in and of itself affect the validity of such provision in any other jurisdiction). The parties
shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the invalid, illegal or unenforceable provisions.

     SECTION 18. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 19. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall constitute an original, but all of which, when taken together, shall constitute a
single contract, and shall become effective as provided in Section 17. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile transmission shall be as effective
as delivery of a manually executed counterpart of this Agreement.

     SECTION 20. Rules of Interpretation. The rules of interpretation specified in Section 1.02 of
the Credit Agreement shall be applicable to this Agreement. Section headings used herein are for
convenience of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting this Agreement.

     SECTION 21. Jurisdiction; Consent to Service of Process. (a) Each Pledgor hereby irrevocably
and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any
New York State court or Federal court of the United States of America sitting in the Borough of
Manhattan, New York and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement or the other Loan Documents, or for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that,
to the extent permitted by applicable law, all claims in respect of any such action or proceeding
may be heard and determined in such New York State or, to the

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 10

 

extent permitted by law, in such Federal court. Each of the parties hereto agrees that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this
Agreement shall affect any right that the U.S. Collateral Agent or any other Secured Party may
otherwise have to bring any action or proceeding relating to this Agreement or the other Loan
Documents against any Pledgor or its properties in the courts of any jurisdiction.

     (b) Each Pledgor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 15. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 22. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION.

     SECTION 23. Additional Pledgors. Pursuant to Section 5.09 of the Credit Agreement, each
Domestic Subsidiary of the U.S. Borrower that was not a Material Subsidiary on the date of the
Credit Agreement but subsequently becomes a Material Subsidiary is required to enter into this
Agreement as a Subsidiary Pledgor upon becoming a Material Subsidiary. Upon execution and delivery
after the date hereof by the U.S. Collateral Agent and such Domestic Subsidiary of an instrument in
the form of Annex 1, such Domestic Subsidiary shall become a Subsidiary Pledgor hereunder with the
same force and effect as if originally named as a Subsidiary Pledgor herein. The execution and
delivery of any instrument adding an additional Subsidiary Pledgor as a party to this Agreement
shall not require the consent of any other Subsidiary Pledgor hereunder. The rights and
obligations of each Subsidiary Pledgor hereunder shall remain in full force and effect
notwithstanding the addition of any new Subsidiary Pledgor as a party to this Agreement.

     SECTION 24. Financing Statements. To the extent permitted by applicable law, each Pledgor
authorizes the U.S. Collateral Agent to file financing statements with respect to the Collateral
owned by it in such form and in such filing offices as the U.S. Collateral Agent reasonably
determines appropriate to perfect the security interests of the U.S. Collateral Agent

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 11

 

under this Agreement. A carbon, photographic or other reproduction of this Agreement shall be
sufficient as a financing statement for filing in any jurisdiction.

     SECTION 25. Fraudulent Conveyance. Notwithstanding anything contained herein to the contrary,
it is the intention of each Pledgor, the U.S. Collateral Agent and the other Secured Parties that
the amount of the Obligation secured by each Pledgor’s interests in any of its real or personal
property shall be in, but not in excess of, the maximum amount permitted by fraudulent conveyance,
fraudulent transfer and other similar law, rule or regulation of any Governmental Authority
applicable to such Pledgor. Accordingly, notwithstanding anything to the contrary contained in this
Agreement in any other agreement or instrument executed in connection with the payment of any of
the Obligations, the amount of the Obligations secured by each Pledgor’s interests in any of its
real or personal property pursuant to this Agreement shall be limited to an aggregate amount equal
to the largest amount that would not render such Pledgor’s obligations hereunder or the liens and
security interest granted to the U.S. Collateral Agent hereunder subject to avoidance under Section
548 of the United States Bankruptcy Code or any comparable provision of any other applicable
Insolvency Law or other law, rule or regulation of any Governmental Authority.

     SECTION 27. Amendment and Restatement. The Pledgors and the U.S. Collateral Agent have agreed
that this Agreement is an amendment and restatement of the Existing U.S. Pledge Agreement in its
entirety and the terms and provisions hereof supersede the terms and provisions thereof, and this
Agreement is not a new or substitute agreement or novation of the Existing U.S. Pledge Agreement.

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

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     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL, INC.,

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[THE SUBSIDIARY PLEDGORS LISTED

ON SCHEDULE I HERETO]

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCATION, as U.S. Collateral Agent,

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 13

 

Schedule I to the

Amended and Restated

U.S. Pledge Agreement

SUBSIDIARY PLEDGORS

Name

Capstar Drilling GP, L.L.C.

Capstar Drilling LP, L.L.C.

Capstar Holding, L.L.C.

Oil States Energy Services, Inc.

Oil States Industries, Inc.

Oil States Skagit SMATCO, LLC

PTI Mars Holdco 1, LLC

Sooner, Inc.

Sooner Pipe, L.L.C.

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 14

 

Schedule II to the

Amended and Restated

U.S. Pledge Agreement

EQUITY INTERESTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 		 	 	Percentage	 	 	Percentage	 	 	No. of	 	 	Certificate	 
	Owner	 	Issuer	 	 	Owned	 	 	Pledged	 	 	Shares/Units	 	 	No.	 
	Oil States International, Inc.
	 	General Marine Leasing, LLC	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	001	 
	Oil States International, Inc.
	 	Oil States Management, Inc.	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	Oil States International, Inc.
	 	Oil States Industries, Inc.	 	 	100	%	 	 	100	%	 	 	100	 	 	 	8	 
	Oil States International, Inc.
	 	Oil States Energy Services, Inc.	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	Oil States International, Inc.
	 	PTI Group USA LLC	 	 	100	%	 	 	100	%	 	100 Units	 	 	1	 
	Oil States International, Inc.
	 	Sooner Inc.	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	Oil States Industries, Inc.
	 	Oil States Skagit SMATCO, LLC	 	 	100	%	 	 	100	%	 	 	500	 	 	 	002	 
	Oil States Industries, Inc.
	 	Oil States Industries (UK) Limited	 	 	100	%	 	 	65	%	 	 	650,000	 	 	 	7	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	65,000	 	 	 	10	 
	Oil States Industries, Inc.
	 	Oil States Industries (Asia) PTE LTD	 	 	100	%	 	 	65	%	 	 	65	 	 	 	8	 
	Oil States Skagit SMATCO, LLC
	 	Oil States Industries (Thailand) Ltd.	 	 	96	%	 	 	65	%	 	 	1,400	 	 	 	28	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	65,800	 	 	 	21	 
	Oil States Energy Services, Inc.
	 	Capstar Drilling LP, L.L.C.	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	2	 
	Oil States Energy Services, Inc.
	 	Capstar Drilling GP, L.L.C.	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	001	 

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 15

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 		 	 	Percentage	 	 	Percentage	 	 	No. of	 	 	Certificate	 
	Owner	 	Issuer	 	 	Owned	 	 	Pledged	 	 	Shares/Units	 	 	No.	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead Protection (Canada)Incorporated	 	 	100	%	 	 	65	%	 	 	650	 	 	 	2AC	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	172	 	 	 	2BC	 
	Oil States Energy Services, Inc.
	 	Well Testing, Inc.	 	 	100	%	 	 	100	%	 	 	400	 	 	 	1	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead International, Inc.	 	 	100	%	 	 	65	%	 	 	3,000	 	 	 	8	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead Protection, Incorporated	 	 	100	%	 	 	100	%	 	 	120	 	 	 	7	 
	Capstar Drilling LP, L.L.C.
	 	Capstar Holding, L.L.C.	 	 	99.99	%	 	 	100	%	 	 	n/a	 	 	 	3	 
	Capstar Drilling LP, L.L.C.
	 	Specialty Rental Tools & Supply, L.L.C.	 	 	99.99	%	 	 	100	%	 	 	n/a	 	 	 	001	 
	Capstar Drilling GP, L.L.C.
	 	Capstar Holding, L.L.C.	 	 	.01	%	 	 	100	%	 	 	n/a	 	 	 	4	 
	Capstar Drilling GP, L.L.C.
	 	Specialty Rental Tools &
Supply, L.L.C.	 	 	.01	%	 	 	100	%	 	 	n/a	 	 	 	002	 
	Capstar Holding, L.L.C.
	 	Capstar Drilling, Inc.	 	 	100	%	 	 	100	%	 	 	27,882	 	 	 	26	 
	PTI Mars Holdco 1, LLC
	 	3045843 Nova Scotia Company	 	 	100	%	 	 	65	%	 	 	1	 	 	 	2R	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1	 	 	 	3	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1	 	 	 	4	 
	Sooner Inc.
	 	Sooner Pipe, L.L.C.	 	 	100	%	 	 	100	%	 	 	100	 	 	 	3	 
	Sooner Pipe, L.L.C.
	 	Sooner Holding Company	 	 	100	%	 	 	100	%	 	 	500	 	 	 	4	 

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 16

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 		 	 	Percentage	 	 	Percentage	 	 	No. of	 	 	Certificate	 
	Owner	 	Issuer	 	 	Owned	 	 	Pledged	 	 	Shares/Units	 	 	No.	 
	Sooner Pipe, L.L.C.
	 	A-Z Terminal Corporation	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	5	 

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 17

 

Annex 1 to the

Amended and Restated

U.S. Pledge Agreement

     SUPPLEMENT NO. [___] dated as of [______], 2010 (the “Supplement”), to the Amended and
Restated U.S. Pledge Agreement dated as of December 10, 2010, (as amended, supplemented or
otherwise modified from time to time, the “U.S. Pledge Agreement”), among OIL STATES INTERNATIONAL,
INC., a Delaware corporation (the “U.S. Borrower”), each Subsidiary of the U.S. Borrower listed on
Schedule I thereto (each such Subsidiary individually a “Subsidiary Pledgor” and collectively, the
“Subsidiary Pledgors”; the U.S. Borrower and the Subsidiary Pledgors are referred to collectively
herein as the “Pledgors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as collateral
agent (in such capacity, the “U.S. Collateral Agent”) for the Secured Parties.

     A. Reference is made to the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the U.S. Borrower, PTI Group Inc., (the “Canadian
Parent”) , PTI Premium Camp Services
Ltd. (“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers” the lenders from time to time party thereto (the
“Lenders”), Wells Fargo, as administrative agent (in such capacity, the “Administrative Agent”) for
the Lenders and as U.S. Collateral Agent, and Royal Bank of Canada (“RBC”), as administrative agent
and Canadian Collateral Agent for the Canadian Lenders.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

     C. The Subsidiary Pledgors have entered into the U.S. Pledge Agreement in order to induce the
Lenders to make Loans and the Issuing Banks to issue Letters of Credit. Pursuant to Section 5.09
of the Credit Agreement, each Domestic Subsidiary that is a Material Subsidiary of the U.S.
Borrower that was not a Material Subsidiary on the date of the Credit Agreement is required to
enter into the U.S. Pledge Agreement as a Subsidiary Pledgor. Section 24 of the U.S. Pledge
Agreement provides that additional Domestic Subsidiaries of the U.S. Borrower may become Subsidiary
Pledgors under the U.S. Pledge Agreement by execution and delivery of an instrument in the form of
this Supplement. The undersigned Domestic Subsidiary of the U.S. Borrower (the “New Pledgor”) is
executing this Supplement in accordance with the requirements of the Credit Agreement to become a
Subsidiary Pledgor under the U.S. Pledge Agreement in order to induce the Lenders to make
additional Loans and the Issuing Banks to issue additional Letters of Credit and as consideration
for Loans previously made and Letters of Credit previously issued.

     Accordingly, the U.S. Collateral Agent and the New Pledgor agree as follows:

     SECTION 1. In accordance with Section 24 of the U.S. Pledge Agreement, the New Pledgor by its
signature below becomes a Pledgor under the U.S. Pledge Agreement with the same force and effect as
if originally named therein as a Pledgor and the New Pledgor hereby agrees (a) to all the terms and
provisions of the U.S. Pledge Agreement applicable to it as a

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 18

 

Pledgor thereunder and (b) represents and warrants that the representations and warranties
made by it as a Pledgor thereunder are true and correct on and as of the date hereof in all
material respects. In furtherance of the foregoing, the New Pledgor, as security for the payment
and performance in full of the Obligations (as defined in the U.S. Pledge Agreement), does hereby
create and grant to the U.S. Collateral Agent, its successors and assigns, for the benefit of the
Secured Parties, their successors and assigns, a security interest in and lien on all of the New
Pledgor’s right, title and interest in and to the Collateral (as defined in the U.S. Pledge
Agreement) of the New Pledgor. Each reference to a “Subsidiary Pledgor” or a “Pledgor” in the U.S.
Pledge Agreement shall be deemed to include the New Pledgor. The U.S. Pledge Agreement is hereby
incorporated herein by reference.

     SECTION 2. The New Pledgor represents and warrants to the U.S. Collateral Agent and the other
Secured Parties that this Supplement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application (regardless of whether enforcement is sought in a proceeding in equity or at
law)).

     SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. This Supplement
shall become effective when the U.S. Collateral Agent shall have received counterparts of this
Supplement that, when taken together, bear the signatures of the New Pledgor and the U.S.
Collateral Agent. Delivery of an executed signature page to this Supplement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart of this Supplement.

     SECTION 4. The New Pledgor hereby represents and warrants that set forth on Schedule I
attached hereto is a true and correct schedule of all its Pledged Securities.

     SECTION 5. Except as expressly supplemented hereby, the U.S. Pledge Agreement shall remain in
full force and effect.

     SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

     SECTION 7. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, neither party hereto shall be required to
comply with such provision for so long as such provision is held to be invalid, illegal or
unenforceable, but the validity, legality and enforceability of the remaining provisions contained
herein and in the U.S. Pledge Agreement shall not in any way be affected or impaired. The parties
hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the invalid, illegal or unenforceable provisions.

     SECTION 8. All communications and notices hereunder shall be in writing and given as provided
in Section 15 of the Pledge Agreement. All communications and notices hereunder to

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 19

 

the New Pledgor shall be given to it at the address set forth under its signature hereto in
care of the U.S. Borrower.

     SECTION 9. The New Pledgor agrees to reimburse the U.S. Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other
charges and disbursements of counsel for the U.S. Collateral Agent.

     IN WITNESS WHEREOF, the New Pledgor and the U.S. Collateral Agent have duly executed this
Supplement to the U.S. Pledge Agreement as of the day and year first above written.

	 	 	 	 	 
	 	[Name of New Pledgor],

 	 
	 	by:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  		 

	 	 	Address: 		 
	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION, as U.S. Collateral Agent,

 	 
	 	by:  	
 	 
	 	 	Name: 	 
	 	 	Title:  		 
	 

 Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 20

 

Schedule I to

Supplement No. ____

to the Amended and Restated

U.S. Pledge Agreement

Pledged Securities of the New Pledgor

EQUITY INTERESTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	 	Registered	 	 	Number and	 	 	Percentage of	 
	Issuer	 	 	Certificate	 	 	Owner	 	 	Class of Shares	 	 	Shares	 

Exhibit E-1 — Form of Amended and Restated U.S. Pledge Agreement

Page 21

 

EXHIBIT E-2

[Form of]

AMENDED AND RESTATED

CANADIAN PLEDGE AGREEMENT

     AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT dated as of December 10, 2010 (the
“Agreement”), among 892493 ALBERTA INC., a corporation incorporated under the laws of the Province
of Alberta (“PTI Holdco Sub”), PTI GROUP INC., a corporation amalgamated under the laws of the
Province of Alberta (the “Canadian Parent”), PTI Premium Camp Services Ltd., a corporation
amalgamated under the laws of the Province of Alberta (“PTI Premium” and, together with the
Canadian Parent, the “Canadian Borrowers”), each Subsidiary of the Canadian Parent listed on
Schedule I hereto (each such Subsidiary individually a “Subsidiary Pledgor” and collectively, the
“Subsidiary Pledgors”; PTI Holdco Sub, the Canadian Borrowers and the Subsidiary Pledgors are
referred to collectively herein as the “Pledgors”) and ROYAL BANK OF CANADA (“RBC”), a bank
organized under the laws of Canada, as collateral agent (in such capacity, the “Canadian Collateral
Agent”) for the Canadian Secured Parties (as defined in the Canadian Security Agreement).

     Reference is made to (a) the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Canadian Borrowers, Oil States International, Inc. (the “U.S. Borrower” and, together
with the Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and as U.S. Collateral Agent, and Royal Bank of Canada as
administrative agent and Canadian Collateral Agent for the Canadian Lenders, (b) the Amended and
Restated Canadian Subsidiary Guarantee Agreement dated as of December 10, 2010 (as amended,
supplemented or otherwise modified from time to time, the “Canadian Subsidiary Guarantee
Agreement”), among the Subsidiary Pledgors and the Canadian Collateral Agent, (c) the Amended and
Restated U.S. Borrower Guarantee Agreement dated as of December 10, 2010 (as amended, modified or
supplemented from time to time, the “U.S. Borrower Guarantee Agreement”) between the U.S. Borrower
and the Canadian Collateral Agent and (d) the Amended and Restated PTI Holdco Sub Guarantee
Agreement dated as of December 10, 2010 (as amended, modified or supplemented from time to time the
“PTI Holdco Sub Guarantee Agreement” and, together with the Canadian Subsidiary Guarantee Agreement
and the U.S. Borrower Guarantee Agreement, the “Guarantee Agreements”) between PTI Holdco Sub and
the Canadian Collateral Agent. Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The Pledgors and The Bank of Nova Scotia, in its capacity as former Canadian collateral agent,
are parties to that certain Canadian Pledge Agreement dated as of October 30, 2003 (as heretofore
amended, restated and otherwise modified, the “Existing Canadian Pledge Agreement”).

     The Canadian Lenders have agreed to make Canadian Loans to the Canadian Borrowers and the
Issuing Banks have agreed to issue Canadian Letters of Credit for the account of the

Exhibit E-2 – Form of Amended and Restated Canadian Pledge Agreement

Page 1

 

Canadian Borrowers, pursuant to, and upon the terms and subject to the conditions specified in, the
Credit Agreement. The Canadian Subsidiary Guarantors and PTI Holdco Sub have agreed to guarantee,
among other things, all the obligations of the Canadian Borrowers under the Credit Agreement. The
obligations of the Canadian Lenders to make Canadian Loans and of the Issuing Banks to issue
Canadian Letters of Credit are conditioned upon, among other things, the execution and delivery by
the Pledgors of an Agreement in the form hereof to secure, as applicable (a) the due and punctual
payment by the Canadian Borrowers of (i) the principal of and premium, if any, and interest
(including interest accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the
Canadian Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set
for prepayment or otherwise, (ii) each payment required to be made by the Canadian Borrowers under
the Credit Agreement in respect of any Canadian Letter of Credit, when and as due, including
payments in respect of reimbursement of disbursements, interest thereon and obligations to provide
cash collateral, and (iii) all other monetary obligations, including fees, costs, expenses and
indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such proceeding), of the Canadian
Borrowers to the Secured Parties under the Credit Agreement and the other Loan Documents, (b) the
due and punctual performance of all covenants, agreements, obligations and liabilities of the
Canadian Borrowers under or pursuant to the Credit Agreement and the other Loan Documents, (c) the
due and punctual payment and performance of all the covenants, agreements, obligations and
liabilities of each other Canadian Loan Party under or pursuant to the Loan Documents, (d) the due
and punctual payment and performance of all obligations of the Canadian Borrowers under each
Hedging Agreement entered into with any counterparty that was a Canadian Lender (or an Affiliate of
a Canadian Lender) at the time such Hedging Agreement was entered into and (e) the due and punctual
performance of all Banking Services Obligations provided to the Canadian Borrowers or any
Subsidiary by any Lender or any Affiliate of a Lender (all the monetary and other obligations
referred to in the preceding clauses (a) through (e) being referred to collectively as the
“Obligations”).

     Accordingly, the Pledgors and the Canadian Collateral Agent, on behalf of themselves and each
Canadian Secured Party (and each of their respective successors or assigns), hereby (a) agree that
the Existing Canadian Pledge Agreement is amended and restated in its entirety by this Agreement
and (b) further agree as follows:

     SECTION 1. Pledge. As security for the payment and performance, as the case may be, in full
of the Obligations, each Pledgor hereby transfers, grants, bargains, sells, conveys, hypothecates,
pledges, sets over and delivers unto the Canadian Collateral Agent, its successors and assigns, and
hereby grants to the Canadian Collateral Agent, its successors and assigns, for the ratable benefit
of the Canadian Secured Parties, a security interest in all of such Pledgor’s right, title and
interest in, to and under (a) the Equity Interests owned by it and listed on Schedule II hereto and
any Equity Interests obtained in the future by such Pledgor and the certificates representing all
such Equity Interests (the “Pledged Stock”); provided that the Pledged Stock shall not include, to
the extent that applicable law requires that a Subsidiary of such Pledgor issue directors’
qualifying shares, such qualifying shares and provided that the Pledged Stock

Exhibit E-2 – Form of Amended and Restated Canadian Pledge Agreement

Page 2

 

shall not include any shares in the share capital of PTI Premium issued to PTI Mars Holdco 1, LLC
pursuant to (i) that certain Forward Subscription Agreement (Principal) dated on or about the
Effective Date, between PTI Premium, as issuer, and PTI Mars Holdco 1, LLC, as subscriber, and (ii)
that certain Forward Subscription Agreement (Interest) dated on or about the Effective Date,
between PTI Premium, as issuer, and PTI Mars Holdco 1, LLC, as subscriber; (b) all other property
that may be delivered to and held by the Canadian Collateral Agent pursuant to the terms hereof;
(c) subject to Section 5 hereof, all payments of dividends, cash, instruments and other property
from time to time received, receivable or otherwise distributed, in respect of, in exchange for or
upon the conversion of the securities referred to in clauses (a) and (b) above; (d) subject to
Section 5 hereof, all rights and privileges of such Pledgor with respect to the securities and
other property referred to in clauses (a), (b), (c) and (d) above; and (e) all proceeds of any of
the foregoing (the items referred to in clauses (a) through (e) above being collectively referred
to as the “Collateral”). Upon delivery to the Canadian Collateral Agent, any share certificates,
notes or other securities now or hereafter included in the Collateral (the “Pledged Securities”)
shall be accompanied by stock powers duly executed in blank or other instruments of transfer
satisfactory to the Canadian Collateral Agent and by such other instruments and documents as the
Canadian Collateral Agent may reasonably request.

TO HAVE AND TO HOLD the Collateral, together with all right, title, interest, powers, privileges
and preferences pertaining or incidental thereto, unto the Canadian Collateral Agent, its
successors and assigns, for the ratable benefit of the Secured Parties, forever; subject, however,
to the terms, covenants and conditions hereinafter set forth.

     SECTION 2. Delivery of the Collateral. Each Pledgor agrees promptly to deliver or cause to
be delivered to the Canadian Collateral Agent any and all Pledged Securities, and any and all
certificates or other instruments or documents representing the Collateral.

     SECTION 3. Representations, Warranties and Covenants. Each Pledgor hereby represents,
warrants and covenants, as to itself and the Collateral pledged by it hereunder, to and with the
Canadian Collateral Agent that:

     (a) the Pledged Stock represents that percentage as set forth on Schedule II of the
issued and outstanding shares of each class of the Equity Interests of the issuer with
respect thereto;

     (b) except for the security interest granted hereunder and as permitted by the Credit
Agreement, such Pledgor (i) is and will at all times continue to be the direct owner,
beneficially and of record, of the Pledged Securities indicated on Schedule II, (ii) holds
the same free and clear of all Liens, (iii) will make no assignment, pledge, hypothecation
or transfer of, or create or permit to exist any security interest in or other Lien on, the
Collateral, other than pursuant hereto except as permitted by the Credit Agreement, and (iv)
subject to Section 5 hereof, will cause any and all Collateral, whether for value paid by
such Pledgor or otherwise, to be forthwith deposited with the Canadian Collateral Agent and
pledged or assigned hereunder;

Exhibit E-2 – Form of Amended and Restated Canadian Pledge Agreement

Page 3

 

     (c) such Pledgor (i) has the power and authority to pledge the Collateral in the manner
hereby done or contemplated with full right and authority to create the security interest
and cause delivery of the Collateral to the Canadian Collateral Agent pursuant hereto and
(ii) will defend its title or interest thereto or therein against any and all Liens (other
than the Lien created by this Agreement or permitted by the Credit Agreement), however
arising, of all persons whomsoever;

     SECTION 4. Registration in Nominee Name; Denominations. The Canadian Collateral Agent, on
behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold
the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as
sub-agent) or the name of the Pledgors, endorsed or assigned in blank or in favor of the Canadian
Collateral Agent. Each Pledgor will promptly give to the Canadian Collateral Agent copies of any
notices or other communications received by it with respect to Pledged Securities registered in the
name of such Pledgor. The Canadian Collateral Agent shall at all times have the right to exchange
the certificates, if any, representing Pledged Securities for certificates of smaller or larger
denominations for any purpose consistent with this Agreement.

     SECTION 5. Voting Rights; Dividends and Interest, etc. (a) Unless and until an Event of
Default shall have occurred and be continuing:

     (i) Each Pledgor shall be entitled to exercise any and all voting and/or other
consensual rights and powers inuring to an owner of Pledged Securities or any part thereof
for any purpose consistent with the terms of this Agreement, the Credit Agreement and the
other Loan Documents; provided, however, that such Pledgor will not be entitled to exercise
any such right without the prior written consent of the Canadian Collateral Agent if the
result thereof could materially and adversely affect the rights inuring to a holder of the
Pledged Securities or the rights and remedies of any of the Secured Parties under this
Agreement or the Credit Agreement or any other Loan Document or the ability of the Secured
Parties to exercise the same.

     (ii) The Canadian Collateral Agent shall execute and deliver to each Pledgor, or cause
to be executed and delivered to each Pledgor, all such proxies, powers of attorney and other
instruments as such Pledgor may reasonably request for the purpose of enabling such Pledgor
to exercise the voting and/or consensual rights and powers it is entitled to exercise
pursuant to subparagraph (i) above and to receive the cash dividends it is entitled to
receive pursuant to subparagraph (iii) below.

     (iii) Each Pledgor shall be entitled to receive and retain any and all cash dividends
on the Pledged Securities to the extent and only to the extent that such cash dividends are
permitted by, and otherwise paid in accordance with, the terms and conditions of the Credit
Agreement, the other Loan Documents and applicable laws. All noncash dividends, and all
dividends paid or payable in cash or otherwise in connection with a partial or total
liquidation or dissolution, return of capital, capital surplus or paid-in surplus, and all
other distributions (other than distributions referred to in the preceding sentence) made on
or in respect of the Pledged Securities, whether paid or payable in cash or otherwise,
whether resulting from a subdivision, combination or reclassification

Exhibit E-2 – Form of Amended and Restated Canadian Pledge Agreement

Page 4

 

	 	 	of the outstanding capital stock of the issuer of any Pledged Securities or received in
exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a
result of any merger, consolidation, acquisition or other exchange of assets to which such
issuer may be a party or otherwise, shall be and become part of the Collateral, and, if
received by any Pledgor, shall not be commingled by such Pledgor with any of its other funds
or property but shall be held separate and apart therefrom, shall be held in trust for the
benefit of the Canadian Collateral Agent and shall be forthwith delivered to the Canadian
Collateral Agent in the same form as so received (with any necessary endorsement).

     (b) Upon the occurrence and during the continuance of an Event of Default, all rights of any
Pledgor to dividends that such Pledgor is authorized to receive pursuant to paragraph (a)(iii)
above shall cease, and all such rights shall thereupon become vested in the Canadian Collateral
Agent, which shall have the sole and exclusive right and authority to receive and retain such
dividends. All dividends received by a Pledgor contrary to the provisions of this Section 5 shall
be held in trust for the benefit of the Canadian Collateral Agent, shall be segregated from other
property or funds of such Pledgor and shall be forthwith delivered to the Canadian Collateral Agent
upon demand in the same form as so received (with any necessary endorsement). Any and all money and
other property paid over to or received by the Canadian Collateral Agent pursuant to the provisions
of this paragraph (b) shall be retained by the Canadian Collateral Agent in an account to be
established by the Canadian Collateral Agent upon receipt of such money or other property and shall
be applied in accordance with the provisions of Section 7. After all Events of Default have been
cured or waived, the Canadian Collateral Agent shall, within five Business Days after all such
Events of Default have been cured or waived, repay to each Pledgor all cash dividends (without
interest), that such Pledgor would otherwise be permitted to retain pursuant to the terms of
paragraph (a)(iii) above and which remain in such account.

     (c) Upon the occurrence and during the continuance of an Event of Default, all rights of any
Pledgor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant
to paragraph (a)(i) of this Section 5, and the obligations of the Canadian Collateral Agent under
paragraph (a)(ii) of this Section 5, shall cease, and all such rights shall thereupon become vested
in the Canadian Collateral Agent, which shall have the sole and exclusive right and authority to
exercise such voting and consensual rights and powers, provided that, unless otherwise directed by
the Required Lenders, the Canadian Collateral Agent shall have the right from time to time
following and during the continuance of an Event of Default to permit the Pledgors to exercise such
rights. After all Events of Default have been cured or waived, such Pledgor will have the right to
exercise the voting and consensual rights and powers that it would otherwise be entitled to
exercise pursuant to the terms of paragraph (a)(i) above.

     SECTION 6. Remedies upon Default. Upon the occurrence and during the continuance of an Event
of Default, the Canadian Collateral Agent may, in addition to any other remedies available at law
or equity or any other agreement (including the right to give entitlement orders, instructions or a
notice of exclusive control to a Securities Intermediary subject to an Account Control Agreement or
an issuer subject to an Issuer Control Agreement), sell the Collateral, or any part thereof, at
public or private sale or at any broker’s board or on any securities exchange, for cash, upon
credit or for future delivery as the Canadian Collateral Agent shall deem

Exhibit E-2 – Form of Amended and Restated Canadian Pledge Agreement

Page 5

 

appropriate. The Canadian Collateral Agent shall be authorized at any such sale (if it deems it
advisable to do so) to restrict the prospective bidders or purchasers to persons who will represent
and agree that they are purchasing the Collateral for their own account for investment and not with
a view to the distribution or sale thereof, and upon consummation of any such sale the Canadian
Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or
purchasers thereof the Collateral so sold. Each such purchaser at any such sale shall hold the
property sold absolutely free from any claim or right on the part of any Pledgor, and, to the
extent permitted by applicable law, the Pledgors hereby waive all rights of redemption, stay,
valuation and appraisal any Pledgor now has or may at any time in the future have under any rule of
law or statute now existing or hereafter enacted.

     The Canadian Collateral Agent shall give a Pledgor such prior written notice as may be
required under the Personal Property Security Act (Alberta) or other applicable law of the
Collateral Agent’s intention to make any sale of such Pledgor’s Collateral. Such notice, in the
case of a public sale, shall state the time and place for such sale and, in the case of a sale at a
broker’s board or on a securities exchange, shall state the board or exchange at which such sale is
to be made and the day on which the Collateral, or portion thereof, will first be offered for sale
at such board or exchange. Any such public sale shall be held at such time or times within
ordinary business hours and at such place or places as the Canadian Collateral Agent may fix and
state in the notice of such sale. At any such sale, the Collateral, or portion thereof, to be sold
may be sold in one lot as an entirety or in separate parcels, as the Canadian Collateral Agent may
(in its sole and absolute discretion) determine. The Canadian Collateral Agent shall not be
obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the
fact that notice of sale of such Collateral shall have been given. The Canadian Collateral Agent
may, without notice or publication, adjourn any public or private sale or cause the same to be
adjourned from time to time by announcement at the time and place fixed for sale, and such sale
may, without further notice, be made at the time and place to which the same was so adjourned. In
case any sale of all or any part of the Collateral is made on credit or for future delivery, the
Collateral so sold may be retained by the Canadian Collateral Agent until the sale price is paid in
full by the purchaser or purchasers thereof, but the Canadian Collateral Agent shall not incur any
liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral
so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At
any public (or, to the extent permitted by applicable law, private) sale made pursuant to this
Section 6, any Secured Party may bid for or purchase, free from any right of redemption, stay or
appraisal on the part of any Pledgor (all said rights being also hereby waived and released), the
Collateral or any part thereof offered for sale and may make payment on account thereof by using
any claim then due and payable to it from such Pledgor as a credit against the purchase price, and
it may, upon compliance with the terms of sale, hold, retain and dispose of such property without
further accountability to such Pledgor therefor. For purposes hereof, (a) a written agreement to
purchase the Collateral or any portion thereof shall be treated as a sale thereof, (b) the Canadian
Collateral Agent shall be free to carry out such sale pursuant to such agreement and (c) such
Pledgor shall not be entitled to the return of the Collateral or any portion thereof subject
thereto, notwithstanding the fact that after the Canadian Collateral Agent shall have entered into
such an agreement, all Events of Default shall have been remedied and the Obligations paid in full.
As an alternative to exercising the power of sale herein conferred upon it, the Canadian
Collateral Agent may proceed by a suit or suits at law or in equity to foreclose upon the
Collateral and to

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 6

 

sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts
having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver.

     SECTION 7. Application of Proceeds of Sale. The proceeds of any sale of Collateral pursuant
to Section 6 hereof, as well as any Collateral consisting of cash, shall be applied by the Canadian
Collateral Agent in accordance with Section 7.05 of the Credit Agreement. The Canadian Collateral
Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or
balances in accordance with this Agreement and the Credit Agreement. Upon any sale of the
Collateral by the Canadian Collateral Agent (including pursuant to a power of sale granted by
statute or under a judicial proceeding), the receipt of the purchase money by the Canadian
Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser
or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to
see to the application of any part of the purchase money paid over to the Canadian Collateral Agent
or such officer or be answerable in any way for the misapplication thereof.

     SECTION 8. Canadian Collateral Agent Appointed Attorney-in-Fact. Each Pledgor hereby
appoints the Canadian Collateral Agent the attorney-in-fact of such Pledgor for the purpose of
carrying out the provisions of this Agreement and taking any action and executing any instrument
that the Canadian Collateral Agent may deem necessary or advisable to accomplish the purposes
hereof, which appointment is irrevocable and coupled with an interest. Without limiting the
generality of the foregoing, the Canadian Collateral Agent shall have the right, upon the
occurrence and during the continuance of an Event of Default, with full power of substitution
either in the Canadian Collateral Agent’s name or in the name of such Pledgor, to ask for, demand,
sue for, collect, receive and give acquittance for any and all moneys due or to become due under
and by virtue of any Collateral, to endorse checks, drafts, orders and other instruments for the
payment of money payable to such Pledgor representing any interest or dividend or other
distribution payable in respect of the Collateral or any part thereof or on account thereof and to
give full discharge for the same, to settle, compromise, prosecute or defend any action, claim or
proceeding with respect thereto, and to sell, assign, endorse, pledge, transfer and to make any
agreement respecting, or otherwise deal with, the same; provided, however, that nothing herein
contained shall be construed as requiring or obligating the Canadian Collateral Agent to make any
commitment or to make any inquiry as to the nature or sufficiency of any payment received by the
Canadian Collateral Agent, or to present or file any claim or notice, or to take any action with
respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof
or any property covered thereby. The Canadian Collateral Agent and the other Secured Parties shall
be accountable only for amounts actually received as a result of the exercise of the powers granted
to them herein, and neither they nor their officers, directors, employees or agents shall be
responsible to any Pledgor for any act or failure to act hereunder, except for their own gross
negligence or wilful misconduct.

     SECTION 9. Waivers; Amendment. (a) No failure or delay of the Canadian Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Canadian Collateral Agent

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 7

 

hereunder and of the other Secured Parties under the other Loan Documents are cumulative and are
not exclusive of any rights or remedies that they would otherwise have. No waiver of any
provisions of this Agreement or consent to any departure by any Pledgor therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given.
No notice or demand on any Pledgor in any case shall entitle such Pledgor to any other or further
notice or demand in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the Canadian Collateral Agent and the Pledgor
or Pledgors with respect to which such waiver, amendment or modification is to apply, subject to
any consent required in accordance with Section 9.08 of the Credit Agreement.

     SECTION 10. Securities Act, etc. In view of the position of the Pledgors in relation to the
Pledged Securities, or because of other current or future circumstances, a question may arise under
the Securities Act (Ontario) and the Securities Act (Alberta), as now or hereafter in effect, or
any similar statutes hereafter enacted analogous in purpose or effect (such Acts and any such
similar statute as from time to time in effect being called the “Applicable Securities Laws”) with
respect to any disposition of the Pledged Securities permitted hereunder. Each Pledgor understands
that compliance with the Applicable Securities Laws might very strictly limit the course of
conduct of the Canadian Collateral Agent if the Canadian Collateral Agent were to attempt to
dispose of all or any part of the Pledged Securities, and might also limit the extent to which or
the manner in which any subsequent transferee of any Pledged Securities could dispose of the same.
Each Pledgor recognizes that in light of such restrictions and limitations the Canadian Collateral
Agent may, with respect to any sale of the Pledged Securities, limit the purchasers to those who
will agree, among other things, to acquire such Pledged Securities for their own account, for
investment, and not with a view to the distribution or resale thereof. Each Pledgor acknowledges
and agrees that in light of such restrictions and limitations, the Canadian Collateral Agent, in
its sole and absolute discretion, (a) may proceed to make such a sale whether or not a prospectus
for the purpose of qualifying for distribution and selling such Pledged Securities or part thereof
shall have been filed under the Applicable Securities Laws and (b) may approach and negotiate with
a single potential purchaser to effect such sale. Each Pledgor acknowledges and agrees that any
such sale might result in prices and other terms less favorable to the seller than if such sale
were a public sale without such restrictions. In the event of any such sale, the Canadian
Collateral Agent shall incur no responsibility or liability for selling all or any part of the
Pledged Securities at a price that the Canadian Collateral Agent, in its sole and absolute
discretion, may in good faith deem reasonable under the circumstances, notwithstanding the
possibility that a substantially higher price might have been realized if the sale were deferred
until after the filing of a prospectus as aforesaid or if more than a single purchaser were
approached. The provisions of this Section 11 will apply notwithstanding the existence of a public
or private market upon which the quotations or sales prices may exceed substantially the price at
which the Canadian Collateral Agent sells.

     SECTION 11. [Intentionally Omitted].

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 8

 

     SECTION 12. Security Interest Absolute. All rights of the Canadian Collateral Agent
hereunder, the grant of a security interest in the Collateral and all obligations of each Pledgor
hereunder, shall be absolute and unconditional irrespective of (a) any lack of validity or
enforceability of the Credit Agreement, any other Loan Document, any agreement with respect to any
of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any
change in the time, manner or place of payment of, or in any other term of, all or any of the
Obligations, or any other amendment or waiver of or any consent to any departure from the Credit
Agreement, any other Loan Document or any other agreement or instrument relating to any of the
foregoing, (c) any exchange, release or nonperfection of any other collateral, or any release or
amendment or waiver of or consent to or departure from any guaranty, for all or any of the
Obligations or (d) any other circumstance that might otherwise constitute a defense available to,
or a discharge of, any Pledgor in respect of the Obligations or in respect of this Agreement (other
than the indefeasible payment in full of all the Obligations).

     SECTION 13. Termination or Release. (a) This Agreement and the security interests granted
hereby shall terminate when all the Obligations have been indefeasibly paid in full and the
Canadian Lenders have no further commitment to lend under the Credit Agreement, the Canadian L/C
Exposure has been reduced to zero and the Issuing Banks have no further obligation to issue
Canadian Letters of Credit under the Credit Agreement.

     (b) Upon any sale or other transfer by any Pledgor of any Collateral that is permitted under
the Credit Agreement to any person that is not a Pledgor, or, upon the effectiveness of any written
consent to the release of the security interest granted hereby in any Collateral pursuant to
Section 9.08(b) of the Credit Agreement, the security interest in such Collateral shall be
automatically released.

     (c) In connection with any termination or release pursuant to paragraph (a) or (b), the
Canadian Collateral Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all
documents that such Pledgor shall reasonably request to evidence such termination or release. Any
execution and delivery of documents pursuant to this Section 14 shall be without recourse to or
warranty by the Canadian Collateral Agent.

     SECTION 14. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to
any Subsidiary Pledgor shall be given to it in care of the Canadian Parent.

     SECTION 15. Further Assurances. Each Pledgor agrees to do such further acts and things, and
to execute and deliver such additional conveyances, assignments, agreements and instruments, as the
Canadian Collateral Agent may at any time reasonably request in connection with the administration
and enforcement of this Agreement or with respect to the Collateral or any part thereof or in order
better to assure and confirm unto the Canadian Collateral Agent its rights and remedies hereunder.

     SECTION 16. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any of
the parties hereto is referred to, such reference shall be deemed to include the successors and
assigns of such party; and all covenants, promises and agreements by or on behalf

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 9

 

of any Pledgor that are contained in this Agreement shall bind and inure to the benefit of its
successors and assigns. This Agreement shall become effective as to any Pledgor when a counterpart
hereof executed on behalf of such Pledgor shall have been delivered to the Canadian Collateral
Agent and a counterpart hereof shall have been executed on behalf of the Canadian Collateral Agent,
and thereafter shall be binding upon such Pledgor and the Canadian Collateral Agent and their
respective successors and assigns, and shall inure to the benefit of such Pledgor, the Canadian
Collateral Agent and the other Secured Parties, and their respective successors and assigns, except
that no Pledgor shall have the right to assign its rights hereunder or any interest herein or in
the Collateral (and any such attempted assignment shall be void), except as expressly contemplated
by, the Credit Agreement, this Agreement or the other Loan Documents. If all of the issued and
outstanding shares of a Pledgor are sold, transferred or otherwise disposed of to a person that is
not a Subsidiary of the Canadian Parent pursuant to a transaction permitted by Section 6.05 of the
Credit Agreement, such Pledgor shall be released from its obligations under this Agreement without
further action. This Agreement shall be construed as a separate agreement with respect to each
Pledgor and may be amended, modified, supplemented, waived or released with respect to any Pledgor
without the approval of any other Pledgor and without affecting the obligations of any other
Pledgor hereunder.

     SECTION 17. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by each Pledgor herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Loan Document shall be considered to have been relied upon by the Canadian Collateral Agent and the
other Secured Parties and shall survive the making by the Canadian Lenders of the Canadian Loans
and the issuance of the Canadian Letters of Credit by the Issuing Banks, regardless of any
investigation made by the Secured Parties or on their behalf, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Canadian Loan or any other fee or
amount payable under this Agreement or any other Loan Document is outstanding and unpaid or the
Canadian L/C Exposure does not equal zero and as long as the Canadian Commitments and the
commitments of the Issuing Banks to issue Canadian Letters of Credit have not been terminated.

     (b) In the event any one or more of the provisions contained in this Agreement should be held
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired thereby (it
being understood that the invalidity of a particular provision in a particular jurisdiction shall
not in and of itself affect the validity of such provision in any other jurisdiction). The parties
shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the invalid, illegal or unenforceable provisions.

     SECTION 18. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE PROVINCE OF ALBERTA, CANADA.

     SECTION 19. Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall constitute an original, but all of which, when taken together,

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 10

 

shall constitute a single contract, and shall become effective as provided in Section 17. Delivery
of an executed counterpart of a signature page to this Agreement by facsimile transmission shall be
as effective as delivery of a manually executed counterpart of this Agreement.

     SECTION 20. Rules of Interpretation. The rules of interpretation specified in Section 1.02
of the Credit Agreement shall be applicable to this Agreement. Section headings used herein are
for convenience of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting this Agreement.

     SECTION 21. Jurisdiction; Consent to Service of Process. (a) Each Pledgor hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the courts of the Provinces of Ontario and Alberta, Canada, in any action or
proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement shall affect any right that the Canadian
Collateral Agent or any other Secured Party may otherwise have to bring any action or proceeding
relating to this Agreement or the other Loan Documents against any Pledgor or its properties in the
courts of any jurisdiction.

     (b) Each Pledgor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents the courts of the Provinces of Ontario and Alberta, Canada. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 15. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 22. [Intentionally Omitted]

     SECTION 23. Additional Pledgors. Pursuant to Section 5.09 of the Credit Agreement, each
Subsidiary that is a Material Subsidiary of the Canadian Parent that was not a Material Subsidiary
on the date of the Credit Agreement is required to enter into this Agreement as a Subsidiary
Pledgor. Upon execution and delivery after the date hereof by the Canadian Collateral Agent and
such Subsidiary of an instrument in the form of Annex 1, such Subsidiary shall become a Subsidiary
Pledgor hereunder with the same force and effect as if originally named as a Subsidiary Pledgor
herein. The execution and delivery of any instrument adding an additional Subsidiary Pledgor as a
party to this Agreement shall not require the consent of any other Subsidiary Pledgor hereunder.
The rights and obligations of each Subsidiary Pledgor hereunder shall remain in full force and
effect notwithstanding the addition of any new Subsidiary Pledgor as a party to this Agreement.

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 11

 

     SECTION 24. Fraudulent Conveyance. Notwithstanding anything contained herein to the contrary,
it is the intention of each Pledgor, the Canadian Collateral Agent and the other Secured Parties
that the amount of the Obligation secured by each Pledgor’s interests in any of its real or
personal property shall be in, but not in excess of, the maximum amount permitted by fraudulent
conveyance, fraudulent transfer and other similar law, rule or regulation of any Governmental
Authority or any Canadian authority applicable to such Pledgor. Accordingly, notwithstanding
anything to the contrary contained in this Agreement in any other agreement or instrument executed
in connection with the payment of any of the Obligations, the amount of the Obligations secured by
each Pledgor’s interests in any of its real or personal property pursuant to this Agreement shall
be limited to an aggregate amount equal to the largest amount that would not render such Pledgor’s
obligations hereunder or the liens and security interest granted to the Canadian Collateral Agent
hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provision of any other applicable Insolvency Law or other law, rule or regulation of any
Governmental Authority or of any Canadian authority.

     SECTION 25. Amendment and Restatement. The Pledgors and the Canadian Collateral Agent have
agreed that this Agreement is an amendment and restatement of the Existing Canadian Pledge
Agreement in its entirety and the terms and provisions hereof supersede the terms and provisions
thereof, and this Agreement is not a new or substitute agreement or novation of the Existing
Canadian Pledge Agreement.

[Remainder of this page intentionally left blank. Signature page follows.]

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 12

 

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	892493 ALBERTA INC.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	PTI GROUP INC.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	PTI PREMIUM CAMP SERVICES LTD.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	[THE SUBSIDIARY PLEDGORS LISTED

ON SCHEDULE I HERETO]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	ROYAL BANK OF CANADA, as

Canadian Collateral Agent,

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 13

 

Schedule I to the

Amended and Restated

Canadian Pledge Agreement

SUBSIDIARY PLEDGORS

Name

892493 Alberta Inc.

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 14

 

Schedule II to the

Amended and Restated

Canadian Pledge Agreement

EQUITY INTERESTS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 	 	 	 	 	 
	Name of Company	 	Certificate	 	Registered Owner	 	Number and Class of Shares	 	Percentage of Shares	 
	PTI Group Inc.
	 	A-2	 	892493 Alberta Inc.	 	4,722,490 Class A Common	 	 	100	%
	PTI Group Inc.
	 	B-3	 	892493 Alberta Inc.	 	1,500,000 Class B Common	 	 	100	%
	PTI Group Inc.
	 	C-3	 	892493 Alberta Inc.	 	904,200 Class C Common	 	 	100	%
	PTI Group Inc.
	 	D-35	 	892493 Alberta Inc.	 	634,265 Class D Common	 	 	100	%
	Crown Camp Services Ltd.
	 	A-2	 	PTI Group Inc.	 	100 Class A	 	 	100	%
	Crown Camp Services Ltd.
	 	A-3	 	PTI Group Inc.	 	25.67 Class A	 	 	100	%
	Ek’Ati Services Ltd.
	 	2A	 	PTI Group Inc.	 	51 Class A	 	 	100	%
	Ek’Ati Services Ltd.
	 	2B	 	PTI Group Inc.	 	49 Class B	 	 	100	%
	Norwel Developments Limited
	 	A-6	 	PTI Group Inc.	 	200 Class A	 	 	100	%
	PTI Atlantic Ltd.
	 	1	 	PTI Group Inc.	 	100 Common	 	 	100	%
	PTI Premium Camp Services Ltd.
(f/k/a Diamond Resource
Services Ltd.)
	 	A-2	 	PTI Group Inc.	 	390 Class A	 	 	100	%
	PTI Premium Camp Services Ltd.
(f/k/a Diamond Resource
Services Ltd.)
	 	A-3	 	PTI Group Inc.	 	99.66 Class A	 	 	100	%
	PTI Camp Installations Ltd.
	 	1	 	PTI Group Inc.	 	100 Class A	 	 	100	%
	PTI International Inc.
	 	1	 	PTI Group Inc.	 	100 Common	 	 	100	%
	PTI International Ltd.
	 	1 and 2	 	PTI Group Inc.	 	100,100 Class A	 	 	100	%

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 15

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 	 	 	 	 	 
	Name of Company	 	Certificate	 	Registered Owner	 	Number and Class of Shares	 	Percentage of Shares	 
	PTI Noble Structures Inc.
	 	1	 	PTI Group Inc.	 	100 Common	 	 	100	%
	PTI Travco Modular Structures
Ltd.
	 	50	 	PTI Group Inc.	 	400,000	 	 	100	%
	PTI Travco Modular Structures
Ltd.
	 	51	 	PTI Group Inc.	 	29,648	 	 	100	%
	Christina Lake Enterprises Ltd.
	 	1C	 	PTI Premium Camp Services Ltd.	 	100 Common	 	 	100	%

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 16

 

Annex 1 to the

Amended and Restated

Canadian Pledge Agreement

     SUPPLEMENT NO. dated as of [          ] (the “Supplement”), to the Amended and
Restated Canadian Pledge Agreement dated as of December 10, 2010, (as amended, supplemented or
otherwise modified from time to time, the “Canadian Pledge Agreement”), among 892493 ALBERTA INC.,
a corporation incorporated under the laws of the Province of Alberta (“PTI Holdco Sub”), PTI GROUP
INC., a corporation amalgamated under the laws of the Province of Alberta (the “Canadian Parent”),
PTI Premium Camp Services Ltd., a corporation amalgamated under the laws of the Province of Alberta
(“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers”), each
Subsidiary of the Canadian Borrowers listed on Schedule I thereto (each such Subsidiary
individually a “Subsidiary Pledgor” and collectively, the “Subsidiary Pledgors”; PTI Holdco Sub,
the Canadian Borrowers and the Subsidiary Pledgors are referred to collectively herein as the
“Pledgors”) and ROYAL BANK OF CANADA (“RBC”), as collateral agent (in such capacity, the “Canadian
Collateral Agent”) for the Secured Parties.

     A. Reference is made to the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Canadian Borrowers, Oil States International, Inc., (the “U.S. Borrower” and, together
with the Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and as U.S. Collateral Agent, and Royal Bank of Canada, as
administrative agent and Canadian Collateral Agent for the Canadian Lenders.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

     C. The Subsidiary Pledgors have entered into the Canadian Pledge Agreement in order to induce
the Canadian Lenders to make Canadian Loans and the Issuing Banks to issue Canadian Letters of
Credit. Pursuant to Section 5.09 of the Credit Agreement, each Subsidiary that is a Material
Subsidiary of the Canadian Parent that was not a Material Subsidiary on the date of the Credit
Agreement is required to enter into the Canadian Pledge Agreement as a Subsidiary Pledgor. Section
24 of the Canadian Pledge Agreement provides that additional Subsidiaries of the Canadian Parent
may become Subsidiary Pledgors under the Canadian Pledge Agreement by execution and delivery of an
instrument in the form of this Supplement. The undersigned Subsidiary of the Canadian Parent (the
“New Pledgor”) is executing this Supplement in accordance with the requirements of the Credit
Agreement to become a Subsidiary Pledgor under the Canadian Pledge Agreement in order to induce the
Canadian Lenders to make additional Canadian Loans and the Issuing Banks to issue additional
Canadian Letters of Credit and as consideration for Canadian Loans previously made and Canadian
Letters of Credit previously issued.

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 17

 

     Accordingly, the Canadian Collateral Agent and the New Pledgor agree as follows:

     SECTION 1. In accordance with Section 24 of the Canadian Pledge Agreement, the New Pledgor by
its signature below becomes a Pledgor under the Canadian Pledge Agreement with the same force and
effect as if originally named therein as a Pledgor and the New Pledgor hereby agrees (a) to all the
terms and provisions of the Canadian Pledge Agreement applicable to it as a Pledgor thereunder and
(b) represents and warrants that the representations and warranties made by it as a Pledgor
thereunder are true and correct on and as of the date hereof in all material respects. In
furtherance of the foregoing, the New Pledgor, as security for the payment and performance in full
of the Obligations (as defined in the Canadian Pledge Agreement), does hereby create and grant to
the Canadian Collateral Agent, its successors and assigns, for the benefit of the Secured Parties,
their successors and assigns, a security interest in and lien on all of the New Pledgor’s right,
title and interest in and to the Collateral (as defined in the Canadian Pledge Agreement) of the
New Pledgor. Each reference to a “Subsidiary Pledgor” or a “Pledgor” in the Canadian Pledge
Agreement shall be deemed to include the New Pledgor. The Canadian Pledge Agreement is hereby
incorporated herein by reference.

     SECTION 2. The New Pledgor represents and warrants to the Canadian Collateral Agent and the
other Secured Parties that this Supplement has been duly authorized, executed and delivered by it
and constitutes its legal, valid and binding obligation, enforceable against it in accordance with
its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application (regardless of whether enforcement is sought in a proceeding in equity or at
law)).

     SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. This Supplement
shall become effective when the Canadian Collateral Agent shall have received counterparts of this
Supplement that, when taken together, bear the signatures of the New Pledgor and the Canadian
Collateral Agent. Delivery of an executed signature page to this Supplement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart of this Supplement.

     SECTION 4. The New Pledgor hereby represents and warrants that set forth on Schedule I
attached hereto is a true and correct schedule of all its Pledged Securities.

     SECTION 5. Except as expressly supplemented hereby, the Canadian Pledge Agreement shall
remain in full force and effect.

     SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE PROVINCE OF ALBERTA, CANADA.

     SECTION 7. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, neither party hereto shall be required to
comply with such provision for so long as such provision is held to be invalid, illegal

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 18

 

or unenforceable, but the validity, legality and enforceability of the remaining provisions
contained herein and in the Canadian Pledge Agreement shall not in any way be affected or impaired.
The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 8. All communications and notices hereunder shall be in writing and given as provided
in Section 15 of the Canadian Pledge Agreement. All communications and notices hereunder to the
New Pledgor shall be given to it at the address set forth under its signature hereto in care of the
Canadian Parent.

     SECTION 9. The New Pledgor agrees to reimburse the Canadian Collateral Agent for its
reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable
fees, other charges and disbursements of counsel for the Canadian Collateral Agent.

     IN WITNESS WHEREOF, the New Pledgor and the Canadian Collateral Agent have duly executed this
Supplement to the Canadian Pledge Agreement as of the day and year first above written.

	 	 	 	 	 
	 	[Name of New Pledgor],

 	 
	 	By:  	 	 
	 	 	Name:  	 	 	 
	 	 	Title:  	 	 	 
	 	 	Address: 	 	 
	 

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 19

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as

Canadian Collateral Agent,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 	 
	 	 	Title:  	 	 	 
	 

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 20

 

Schedule I to

Supplement No.___

to the Amended and Restated

Canadian Pledge Agreement

Pledged Securities of the New Pledgor

EQUITY INTERESTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	Registered	 	Number and	 	Percentage of
	Issuer	 	Certificate	 	Owner	 	Class of Shares	 	Shares

Exhibit E-2
— Form of Amended and Restated Canadian Pledge Agreement

Page 21

 

EXHIBIT F-1

[Form of]

AMENDED AND RESTATED U.S. SECURITY AGREEMENT

     AMENDED AND RESTATED U.S. SECURITY AGREEMENT (as supplemented from time to time, this
“Agreement”) dated as of December 10, 2010, among OIL STATES INTERNATIONAL, INC., a Delaware
corporation (the “U.S. Borrower”), each Subsidiary of the U.S. Borrower listed on Schedule I hereto
(each such Subsidiary individually a “Guarantor” and collectively, the “Subsidiary Guarantors”; the
Guarantors and the U.S. Borrower are referred to collectively herein as the “Grantors”) and WELLS
FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as collateral agent (in such capacity, the “U.S.
Collateral Agent”) for the Secured Parties (as defined herein).

INTRODUCTION

     A. The Grantors and Wells Fargo are parties to that certain Security Agreement dated as of
October 30, 2003 (as heretofore amended, restated and otherwise modified, the “Existing Security
Agreement”).

     B. Reference is made to (a) the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the U.S. Borrower, PTI Group Inc., (the “Canadian Parent“), PTI Premium Camp Services Ltd.
(“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo, as administrative agent (in such capacity, the “Administrative Agent”) and
U.S. Collateral Agent, and Royal Bank of Canada (“RBC”), as administrative agent for the Canadian
Lenders, and as Canadian Collateral Agent for the Canadian Lenders, (b) the Amended and Restated
U.S. Subsidiary Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented or
otherwise modified from time to time, the “U.S. Subsidiary Guarantee Agreement”) among the
Subsidiary Pledgors and the U.S. Collateral Agent and (c) the Amended and Restated U.S. Borrower
Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise modified
from time to time, the “U.S. Borrower Guarantee Agreement” and, together with the U.S. Subsidiary
Guarantee Agreement the “Guarantee Agreements”).

     C. The Lenders have agreed to make Loans to the Borrowers, and the Issuing Banks have agreed
to issue Letters of Credit for the account of the Borrowers, pursuant to, and upon the terms and
subject to the conditions specified in, the Credit Agreement. The U.S. Subsidiary Guarantors have
agreed to guarantee, among other things, all the obligations of the Borrowers under the Credit
Agreement. The U.S. Borrower has agreed to guarantee, among other things, all the obligations of
the Canadian Borrowers under the Credit Agreement. The obligations of the Lenders to make Loans
and of the Issuing Banks to issue Letters of Credit are conditioned upon, among other things, the
execution and delivery by the Grantors of an agreement in the form hereof to secure (a) the due and
punctual payment by the Borrowers of (i) the principal of and premium, if any, and interest
(including interest accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 1

 

in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon
one or more dates set for prepayment or otherwise, (ii) each payment required to be made by any
Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including
payments in respect of reimbursement of disbursements, interest thereon and obligations to provide
cash collateral and (iii) all other monetary obligations, including fees, costs, expenses and
indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such proceeding), of the
Borrowers to the Secured Parties under the Credit Agreement and the other Loan Documents, (b) the
due and punctual performance of all covenants, agreements, obligations and liabilities of the
Borrowers under or pursuant to the Credit Agreement and the other Loan Documents, (c) the due and
punctual payment and performance of all the covenants, agreements, obligations and liabilities of
each Loan Party under or pursuant to this Agreement and the other Loan Documents, (d) the due and
punctual payment and performance of all obligations of the Borrowers under each Hedging Agreement
entered into with any counterparty that was a Lender (or an Affiliate of a Lender) at the time such
Hedging Agreement was entered into and (e) the due and punctual performance of all Banking Services
Obligations provided to the Borrowers or any Subsidiary by any Lender or any Affiliate of a Lender
(all the monetary and other obligations described in the preceding clauses (a) through (e) being
referred to collectively as the “Obligations”).

     Accordingly, the Grantors and the U.S. Collateral Agent, on behalf of itself and each Secured
Party (and each of their respective successors or assigns), hereby (a) agree that the Existing
Security Agreement is amended and restated in its entirety by this Security Agreement and (b)
further agree as follows:

ARTICLE I

Definitions

     SECTION 1.01 Definition of Terms Used Herein. Unless the context otherwise requires, all
capitalized terms used but not defined herein shall have the meanings set forth in the Credit
Agreement. Except as otherwise specified herein, all references to the Uniform Commercial Code
shall mean the Uniform Commercial Code as in effect from time to time in the State of New York.

     SECTION 1.02 Definition of Certain Terms Used Herein. As used herein, the following terms
shall have the following meanings:

     “Account Debtor” shall mean any person who is or who may become obligated to any Grantor
under, with respect to or on account of an Account.

     “Accounts” shall mean “accounts” as defined in the UCC, including, without limitation, any and
all right, title and interest of any Grantor to payment for goods and services sold or leased,
including any such right evidenced by Chattel Paper, whether due or to become due, whether or not
it has been earned by performance, and whether now or hereafter acquired or arising in the future,
including accounts receivable from Affiliates of the Grantors.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 2

 

     “Accounts Receivable” shall mean “accounts receivable” as defined in the UCC, including,
without limitation, all Accounts and all right, title and interest in any returned goods, together
with all rights, titles, securities and guarantees with respect thereto, including any rights to
stoppage in transit, replevin, reclamation and resales, and all related security interests, liens
and pledges, whether voluntary or involuntary, in each case whether now existing or owned or
hereafter arising or acquired.

     “Chattel Paper” shall mean (a) a writing or writings which evidence both a monetary obligation
and a security interest in or a lease of specific Equipment and (b) all other property now or
hereafter constituting “chattel paper” under the Uniform Commercial Code as in effect in the State
of New York or its equivalent in other jurisdictions, in each case that are now or hereafter owned
by any Grantor.

     “Collateral” shall mean all (a) Accounts Receivable, (b) Documents, (c) Equipment, (d) General
Intangibles, (e) Inventory, (f) cash and cash accounts, (g) Investment Property and (h) Proceeds;
provided that, “Collateral” shall not include any property or assets the granting of a Lien on, or
a security interest in, which would result in adverse tax consequences to the U.S. Borrower or any
Subsidiary including, without limitation, (1) that certain Forward Subscription Agreement
(Principal), dated on or about the Effective Date, between PTI Premium, as issuer, and PTI Mars
Holdco 1, LLC, as subscriber, (2) that certain Forward Subscription Agreement (Interest), dated on
or about the Effective Date, between PTI Premium, as issuer, and PTI Mars Holdco 1, LLC, as
subscriber, (3) that certain Assignment of Forward Subscription Agreement (Principal), dated on or
about the Effective Date, between PTI Premium, as assignor, and the U.S. Borrower, as assignee, and
(4) that certain Loan Agreement, dated on or about the Effective Date, between the U.S. Borrower,
as lender, and PTI Premium, as borrower, and any rights under or interests in any of the foregoing
(including, without limitation, any “assigned rights” as defined in the agreement listed in clause
(3) above).

     “Commodity Account” shall mean an account maintained by a Commodity Intermediary in which a
Commodity Contract is carried out for a Commodity Customer.

     “Commodity Contract” shall mean a commodity futures contract, an option on a commodity futures
contract, a commodity option or any other contract that, in each case, is (a) traded on or subject
to the rules of a board of trade that has been designated as a contract market for such a contract
pursuant to the federal commodities laws or (b) traded on a foreign commodity board of trade,
exchange or market, and is carried on the books of a Commodity Intermediary for a Commodity
Customer.

     “Commodity Customer” shall mean a person for whom a Commodity Intermediary carries a Commodity
Contract on its books.

     “Commodity Intermediary” shall mean (a) a person who is registered as a futures commission
merchant under the federal commodities laws or (b) a person who in the ordinary course of its
business provides clearance or settlement services for a board of trade that has been designated as
a contract market pursuant to federal commodities laws.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 3

 

     “Copyright License” shall mean any written agreement, now or hereafter in effect, granting any
right to any third party under any Copyright now or hereafter owned by any Grantor or which such
Grantor otherwise has the right to license, or granting any right to such Grantor under any
Copyright now or hereafter owned by any third party, and all rights of such Grantor under any such
agreement.

     “Copyrights” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all copyright rights in any work subject to the copyright laws of the United States or any
other country, whether as author, assignee, transferee or otherwise, and (b) all registrations and
applications for registration of any such copyright in the United States or any other country,
including registrations, recordings, supplemental registrations and pending applications for
registration in the United States Copyright Office.

     “Credit Agreement” shall have the meaning assigned to such term in the preliminary statement
of this Agreement.

     “Documents” shall mean “documents” as defined in the UCC, including, without limitation, all
instruments, files, records, ledger sheets and documents covering or relating to any of the
Collateral.

     “Entitlement Holder” shall mean a person identified in the records of a Securities
Intermediary as the person having a Security Entitlement against the Securities Intermediary. If a
person acquires a Security Entitlement by virtue of Section 8.501(b)(2) or (3) of the Uniform
Commercial Code as in effect in the State of New York, such person is the Entitlement Holder.

     “Equipment” shall mean “equipment” as defined in the UCC, including, without limitation, all
equipment, furniture and furnishings, and all tangible personal property similar to any of the
foregoing, including tools, parts and supplies of every kind and description, and all improvements,
accessions or appurtenances thereto, that are now or hereafter owned by any Grantor.

     “Financial Asset” shall mean (a) a Security, (b) an obligation of a person or a share,
participation or other interest in a person or in property or an enterprise of a person, which is,
or is of a type, dealt with in or traded on financial markets, or which is recognized in any area
in which it is issued or dealt in as a medium for investment or (c) any property that is held by a
Securities Intermediary for another person in a Securities Account if the Securities Intermediary
has expressly agreed with the other person that the property is to be treated as a Financial Asset
under Article 8 of the Uniform Commercial Code as in effect in the State of New York. As the
context requires, the term Financial Asset shall mean either the interest itself or the means by
which a person’s claim to it is evidenced, including a certificated or uncertificated Security, a
certificate representing a Security or a Security Entitlement.

     “General Intangibles” shall mean “general intangibles” as defined in the UCC, including,
without limitation, all choses in action and causes of action and all other assignable intangible
personal property of any Grantor of every kind and nature (other than Accounts Receivable) now
owned or hereafter acquired by any Grantor, including rights and interests in partnerships, limited
partnerships, limited liability companies and other entities (in each case to the extent not

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 4

 

constituting Securities), corporate or other business records, indemnification claims,
contract rights (including rights under leases, whether entered into as lessor or lessee, Hedging
Agreements and other agreements), Intellectual Property, goodwill, registrations, franchises, tax
refund claims and any letter of credit, guarantee, claim, security interest or other security held
by or granted to any Grantor to secure payment by an Account Debtor of any of the Accounts
Receivable.

     “Intellectual Property” shall mean all intellectual and similar property of any Grantor of
every kind and nature now owned or hereafter acquired by any Grantor, including inventions,
designs, Patents, Copyrights, Licenses, Trademarks, trade secrets, confidential or proprietary
technical and business information, know-how, show-how or other data or information, software and
databases and all embodiments or fixations thereof and related documentation, registrations and
franchises, and all additions, improvements and accessions to, and books and records describing or
used in connection with, any of the foregoing.

     “Inventory” shall mean “inventory” as defined in the UCC, including, without limitation, all
goods of any Grantor, whether now owned or hereafter acquired, held for sale or lease, or furnished
or to be furnished by any Grantor under contracts of service, or consumed in any Grantor’s
business, including raw materials, intermediates, work in process, packaging materials, finished
goods, semi-finished inventory, scrap inventory, manufacturing supplies and spare parts, and all
such goods that have been returned to or repossessed by or on behalf of any Grantor.

     “Investment Property” shall mean “investment property” as defined in the UCC, including,
without limitation, all Securities (whether certificated or uncertificated), Security Entitlements,
Securities Accounts, Commodity Contracts or Commodity Accounts and of any Grantor, whether now
owned or hereafter acquired by any Grantor.

     “License” shall mean any Patent License, Trademark License, Copyright License or other similar
license or sublicense to which any Grantor is a party.

     “Obligations” shall have the meaning assigned to such term in the preliminary statement of
this Agreement.

     “Patent License” shall mean any written agreement, now or hereafter in effect, granting to any
third party any right to make, use or sell any invention on which a Patent, now or hereafter owned
by any Grantor or which any Grantor otherwise has the right to license, is in existence, or
granting to any Grantor any right to make, use or sell any invention on which a Patent, now or
hereafter owned by any third party, is in existence, and all rights of any Grantor under any such
agreement.

     “Patents” shall mean all of the following now owned or hereafter acquired by any Grantor: (a)
all letters patent of the United States or any other country, all registrations and recordings
thereof, and all applications for letters patent of the United States or any other country,
including registrations, recordings and pending applications in the United States Patent and
Trademark Office or any similar offices in any other country and (b) all reissues, continuations,
divisions, continuations-in-part, renewals or extensions thereof, and the inventions

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 5

 

disclosed or claimed therein, including the right to make, use and/or sell the inventions
disclosed or claimed therein.

     “Perfection Certificate” shall mean a certificate substantially in the form of Annex 1 hereto,
completed and supplemented with the schedules and attachments contemplated thereby, and duly
executed by a Responsible Officer of the U.S. Borrower.

     “Proceeds” shall mean “proceeds” as defined in the UCC, including, without limitation, any
consideration received from the sale, exchange, license, lease or other disposition of any asset or
property that constitutes Collateral, any value received as a consequence of the possession of any
Collateral and any payment received from any insurer or other person or entity as a result of the
destruction, loss, theft, damage or other involuntary conversion of whatever nature of any asset or
property which constitutes Collateral, and shall include any and all other amounts from time to
time paid or payable under or in connection with any of the Collateral.

     “Secured Parties” shall mean (a) the Lenders, (b) the Administrative Agents, (c) the
Collateral Agents, (d) the Issuing Banks, (e) each counterparty to a Hedging Agreement entered into
with the Borrower if such counterparty was a Lender (or an Affiliate of a Lender) at the time the
Hedging Agreement was entered into, (f) the Banking Services Providers, (g) the beneficiaries of
each indemnification obligation undertaken by any Grantor under any Loan Document and (h) the
successors and assigns of each of the foregoing.

     “Securities” shall mean any obligation of an issuer or any shares, participations or other
interests in an issuer or in property or an enterprise of an issuer which (a) are represented by a
certificate representing a security in bearer or registered form, or the transfer of which may be
registered upon books maintained for that purpose by or on behalf of the issuer, (b) are one of a
class or series or by its terms is divisible into a class or series of shares, participations,
interests or obligations and (c)(i) are, or are of a type, dealt with or traded on securities
exchanges or securities markets or (ii) are a medium for investment and by their terms expressly
provide that they are a security governed by Article 8 of the Uniform Commercial Code as in effect
in the State of New York.

     “Securities Account” shall mean an account to which a Financial Asset is or may be credited in
accordance with an agreement under which the person maintaining the account undertakes to treat the
person for whom the account is maintained as entitled to exercise rights that comprise the
Financial Asset.

     “Securities Intermediary” shall mean (a) a clearing corporation or (b) a person, including a
bank or broker, that in the ordinary course of its business maintains Securities Accounts for
others and is acting in that capacity.

     “Security Entitlements” shall mean the rights and property interests of an Entitlement Holder
with respect to a Financial Asset.

     “Security Interest” shall have the meaning assigned to such term in Section 2.01.

     “Trademark License” shall mean any written agreement, now or hereafter in effect, granting to
any third party any right to use any Trademark now or hereafter owned by any

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 6

 

Grantor or which any Grantor otherwise has the right to license, or granting to any Grantor
any right to use any Trademark now or hereafter owned by any third party, and all rights of any
Grantor under any such agreement.

     “Trademarks” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all trademarks, service marks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, trade dress, logos, other source or business identifiers,
designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all
registrations and recordings thereof, and all registration and recording applications filed in
connection therewith, including registrations and registration applications in the United States
Patent and Trademark Office, any State of the United States or any similar offices in any other
country or any political subdivision thereof, and all extensions or renewals thereof, (b) all
goodwill associated therewith or symbolized thereby and (c) all other assets, rights and interests
that uniquely reflect or embody such goodwill.

     “UCC” shall mean the Uniform Commercial Code as the same may, from time to time, be in effect
in the State of New York; provided, however, in the event that, by reason of mandatory provisions
of law, any or all of the attachment, perfection or priority of the security interest in any
Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the
State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other
jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or
priority and for purposes of definitions related to such provisions.

     SECTION 1.03 Rules of Interpretation. The rules of interpretation specified in Section 1.02
of the Credit Agreement shall be applicable to this Agreement.

ARTICLE II

Security Interest

     SECTION 2.01 Security Interest. As security for the payment or performance, as the case may
be, in full of the Obligations, each Grantor hereby bargains, sells, conveys, assigns, sets over,
mortgages, pledges, hypothecates and transfers to the U.S. Collateral Agent, its successors and
assigns, for the ratable benefit of the Secured Parties, and hereby grants to the U.S. Collateral
Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security
interest in, all of such Grantor’s right, title and interest in, to and under the Collateral (the
“Security Interest”). Without limiting the foregoing, the U.S. Collateral Agent is hereby
authorized to file one or more financing statements, continuation statements, filings with the
United States Patent and Trademark Office or United States Copyright Office (or any successor
office or any similar office in any other country) or other documents for the purpose of
perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each
Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors
and the U.S. Collateral Agent as secured party.

     SECTION 2.02 No Assumption of Liability. The Security Interest is granted as security only
and shall not subject the U.S. Collateral Agent or any other Secured Party to, or in

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 7

 

any way alter or modify, any obligation or liability of any Grantor with respect to or arising
out of the Collateral.

ARTICLE III

Representations and Warranties

     The Grantors jointly and severally represent and warrant to the U.S. Collateral Agent and the
Secured Parties that:

     SECTION 3.01 Filings. (a) The Perfection Certificate has been duly prepared, completed and
executed and the information set forth therein is correct and complete in all material respects.
Uniform Commercial Code financing statements in all material respects or other appropriate filings,
recordings or registrations containing a description of the Collateral have been delivered to the
U.S. Collateral Agent for filing in each governmental, municipal or other office specified in
Schedule 1(A) to the Perfection Certificate, which are all the filings, recordings and
registrations (other than filings required to be made in the United States Patent and Trademark
Office and the United States Copyright Office in order to perfect the Security Interest in
Collateral consisting of United States Patents, Trademarks and Copyrights) that are necessary to
publish notice of and protect the validity of and to establish a legal, valid and perfected
security interest in favor of the U.S. Collateral Agent (for the ratable benefit of the Secured
Parties) in respect of all Collateral in which the Security Interest may be perfected by filing,
recording or registration in the United States (or any political subdivision thereof) and its
territories and possessions in accordance with the terms of the Credit Agreement, and no further or
subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in
any such jurisdiction, except as provided under applicable law with respect to the filing of
continuation statements.

     SECTION 3.02 Validity of Security Interest. The Security Interest constitutes (a) a legal and
valid security interest in all the Collateral securing the payment and performance of the
Obligations and (b) subject to the filings described in Section 3.02 above, a perfected security
interest in all Collateral in which a security interest may be perfected by filing, recording or
registering a financing statement or analogous document in the United States (or any political
subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code as
in effect in the State of New York or other applicable law in such jurisdictions. The Security
Interest is and shall be prior to any other Lien on any of the Collateral, other than Liens
permitted pursuant to Section 6.02 of the Credit Agreement.

     SECTION 3.03 Absence of Other Liens. The Collateral is owned by the Grantors free and clear
of any Lien, except for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement.

ARTICLE IV

Covenants

     SECTION 4.01 Protection of Security. Each Grantor shall, at its own cost and expense, take
any and all actions necessary to defend title to the Collateral against all persons

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 8

 

and to defend the Security Interest of the U.S. Collateral Agent in the Collateral and the
priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit
Agreement.

     SECTION 4.02 Further Assurances. Each Grantor agrees, at its own expense, to execute,
acknowledge, deliver and cause to be duly filed all such further instruments and documents and take
all such actions as the U.S. Collateral Agent may from time to time reasonably request to better
assure, preserve, protect and perfect the Security Interest and the rights and remedies created
hereby, including the payment of any fees and taxes required in connection with the execution and
delivery of this Agreement, the granting of the Security Interest and the filing of any financing
statements or other documents in connection herewith or therewith. If an amount in excess of
U.S.$1,000,000 payable under or in connection with any of the Collateral shall be or become
evidenced by any promissory note or other instrument, such note or instrument shall be pledged and
delivered to the U.S. Collateral Agent within 10 days, duly endorsed in a manner satisfactory to
the U.S. Collateral Agent.

     Without limiting the generality of the foregoing, each Grantor hereby authorizes the U.S.
Collateral Agent, with prompt notice thereof to the Grantors, to supplement this Agreement by
adding additional schedules hereto to specifically identify any asset or item that may constitute
Copyrights, Licenses, Patents or Trademarks; provided, however, that any Grantor shall have the
right, exercisable within 10 days after it has been notified by the U.S. Collateral Agent of the
specific identification of such Collateral, to advise the U.S. Collateral Agent in writing of any
inaccuracy of the representations and warranties made by such Grantor hereunder with respect to
such Collateral. Each Grantor agrees that it will use its reasonable efforts to take such action
as shall be necessary in order that all representations and warranties hereunder shall be true and
correct in all material respects with respect to such Collateral within 30 days after the date it
has been notified by the U.S. Collateral Agent of the specific identification of such Collateral.

     SECTION 4.03 Continuing Obligations of the Grantors. Each Grantor shall remain liable to
observe and perform all the conditions and obligations to be observed and performed by it under
each contract, agreement or instrument relating to the Collateral, all in accordance with the terms
and conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold
harmless the U.S. Collateral Agent and the Secured Parties from and against any and all liability
for such performance.

     SECTION 4.04 Use and Disposition of Collateral. None of the Grantors shall make or permit to
be made any transfer of the Collateral and each Grantor shall remain at all times in possession of
the Collateral owned by it, except that (a) Inventory may be sold in the ordinary course of
business and (b) unless and until the U.S. Collateral Agent shall notify the Grantors that an Event
of Default shall have occurred and be continuing and that during the continuance thereof the
Grantors shall not sell, convey, lease, assign, transfer or otherwise dispose of any Collateral
(which notice may be given by telephone if promptly confirmed in writing), the Grantors may use and
dispose of the Collateral in any lawful manner not inconsistent with the provisions of this
Agreement, the Credit Agreement or any other Loan Document. Without limiting the generality of the
foregoing, each Grantor agrees that it shall not permit any Inventory to be in the possession or
control of any warehouseman, bailee, agent or

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 9

 

processor at any time unless such warehouseman, bailee, agent or processor shall have been
notified of the Security Interest.

     SECTION 4.05 Limitation on Modification of Accounts. None of the Grantors will, without the
U.S. Collateral Agent’s prior written consent, grant any extension of the time of payment of any of
the Accounts Receivable, compromise, compound or settle the same for less than the full amount
thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit
or discount whatsoever thereon, other than extensions, credits, discounts, compromises or
settlements granted or made in the ordinary course of business and consistent with its current
practices and in accordance with such prudent and standard practices used in industries that are
the same as or similar to those in which such Grantor is engaged.

ARTICLE V

Power of Attorney

     Each Grantor irrevocably makes, constitutes and appoints the U.S. Collateral Agent (and all
officers, employees or agents designated by the U.S. Collateral Agent) as such Grantor’s true and
lawful agent and attorney-in-fact, and in such capacity the U.S. Collateral Agent shall have the
right, with power of substitution for each Grantor and in each Grantor’s name or otherwise, for the
use and benefit of the U.S. Collateral Agent and the Secured Parties, upon the occurrence and
during the continuance of an Event of Default (a) to receive, endorse, assign and/or deliver any
and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to
the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for
and give discharges and releases of all or any of the Collateral; (c) to sign the name of any
Grantor on any invoice or bill of lading relating to any of the Collateral; (d) to send
verifications of Accounts Receivable to any Account Debtor; (e) to commence and prosecute any and
all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of
any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or
proceedings relating to all or any of the Collateral; (g) to notify, or to require any Grantor to
notify, Account Debtors to make payment directly to the U.S. Collateral Agent; and (h) to use,
sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or
any of the Collateral, and to do all other acts and things necessary to carry out the purposes of
this Agreement, as fully and completely as though the U.S. Collateral Agent were the absolute owner
of the Collateral for all purposes; provided, however, that nothing herein contained shall be
construed as requiring or obligating the U.S. Collateral Agent or any Secured Party to make any
commitment or to make any inquiry as to the nature or sufficiency of any payment received by the
U.S. Collateral Agent or any Secured Party, or to present or file any claim or notice, or to take
any action with respect to the Collateral or any part thereof or the moneys due or to become due in
respect thereof or any property covered thereby, and no action taken or omitted to be taken by the
U.S. Collateral Agent or any Secured Party with respect to the Collateral or any part thereof shall
give rise to any defense, counterclaim or offset in favor of any Grantor or to any claim or action
against the U.S. Collateral Agent or any Secured Party. It is understood and agreed that the
appointment of the U.S. Collateral Agent as the agent and attorney-in-fact of the Grantors for the
purposes set forth above is coupled with an interest and is irrevocable. The provisions of this
Section shall in no event relieve any Grantor of any of its

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 10

 

obligations hereunder or under any other Loan Document with respect to the Collateral or any
part thereof or impose any obligation on the U.S. Collateral Agent or any Secured Party to proceed
in any particular manner with respect to the Collateral or any part thereof, or in any way limit
the exercise by the U.S. Collateral Agent or any Secured Party of any other or further right which
it may have on the date of this Agreement or hereafter, whether hereunder, under any other Loan
Document, by law or otherwise. The U.S. Collateral Agent and the other Secured Parties shall be
accountable only for amounts actually received as a result of the exercise of the powers granted to
them herein, and neither they nor their officers, directors, employees or agents shall be
responsible to any Grantor for any act or failure to act hereunder, except for their own gross
negligence or wilful misconduct.

ARTICLE VI

Remedies

     SECTION 6.01 Remedies upon Default. Upon the occurrence and during the continuance of an
Event of Default, each Grantor agrees to deliver each item of Collateral to the U.S. Collateral
Agent on demand, and it is agreed that the U.S. Collateral Agent shall have the right to take any
of or all the following actions at the same or different times: (a) with respect to any Collateral
consisting of Intellectual Property, on demand, to cause the Security Interest to become an
assignment, transfer and conveyance of any of or all such Collateral by the applicable Grantors to
the U.S. Collateral Agent, or to license or sublicense, whether general, special or otherwise, and
whether on an exclusive or non-exclusive basis, any such Collateral throughout the world on such
terms and conditions and in such manner as the U.S. Collateral Agent shall determine (other than in
violation of any then-existing licensing arrangements to the extent that waivers cannot be
obtained), and (b) to the extent permitted by applicable laws, with or without legal process and
with or without prior notice or demand for performance, to take possession of the Collateral and
without liability for trespass to enter any premises where the Collateral may be located for the
purpose of taking possession of or removing the Collateral and, generally, to exercise any and all
rights afforded to a secured party under the Uniform Commercial Code as in effect in the State of
New York or other applicable law. Without limiting the generality of the foregoing, each Grantor
agrees that the U.S. Collateral Agent shall have the right, subject to the mandatory requirements
of applicable law, to sell or otherwise dispose of all or any part of the Collateral, at public or
private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for
future delivery as the U.S. Collateral Agent shall deem appropriate. The U.S. Collateral Agent
shall be authorized at any such sale (if it deems it advisable to do so) to restrict the
prospective bidders or purchasers to persons who will represent and agree that they are purchasing
the Collateral for their own account for investment and not with a view to the distribution or sale
thereof, and upon consummation of any such sale the U.S. Collateral Agent shall have the right to
assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each
such purchaser at any such sale shall hold the property sold absolutely, free from any claim or
right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law)
all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the
future have under any rule of law or statute now existing or hereafter enacted.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 11

 

     The U.S. Collateral Agent shall give the Grantors 10 days’ written notice (which each Grantor
agrees is reasonable notice within the meaning of the Uniform Commercial Code as in effect in the
State of New York or its equivalent in other jurisdictions) of the U.S. Collateral Agent’s
intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state
the time and place for such sale and, in the case of a sale at a broker’s board or on a securities
exchange, shall state the board or exchange at which such sale is to be made and the day on which
the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any
such public sale shall be held at such time or times within ordinary business hours and at such
place or places as the U.S. Collateral Agent may fix and state in the notice (if any) of such sale.
At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an
entirety or in separate parcels, as the U.S. Collateral Agent may (in its sole and absolute
discretion) determine. The U.S. Collateral Agent shall not be obligated to make any sale of any
Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such
Collateral shall have been given. The U.S. Collateral Agent may, without notice or publication,
adjourn any public or private sale or cause the same to be adjourned from time to time by
announcement at the time and place fixed for sale, and such sale may, without further notice, be
made at the time and place to which the same was so adjourned. In case any sale of all or any part
of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained
by the U.S. Collateral Agent until the sale price is paid by the purchaser or purchasers thereof,
but the U.S. Collateral Agent shall not incur any liability in case any such purchaser or
purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such
failure, such Collateral may be sold again upon like notice. At any public (or, to the extent
permitted by law, private) sale made pursuant to this Section, any Secured Party may bid for or
purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or
appraisal on the part of any Grantor (all said rights being also hereby waived and released to the
extent permitted by law), the Collateral or any part thereof offered for sale and may make payment
on account thereof by using any claim then due and payable to such Secured Party from any Grantor
as a credit against the purchase price, and such Secured Party may, upon compliance with the terms
of sale, hold, retain and dispose of such property without further accountability to any Grantor
therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion
thereof shall be treated as a sale thereof; the U.S. Collateral Agent shall be free to carry out
such sale pursuant to such agreement and no Grantor shall be entitled to the return of the
Collateral or any portion thereof subject thereto, notwithstanding the fact that after the U.S.
Collateral Agent shall have entered into such an agreement, all Events of Default shall have been
remedied and the Obligations paid in full. As an alternative to exercising the power of sale
herein conferred upon it, the U.S. Collateral Agent may proceed by a suit or suits at law or in
equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a
judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding
by a court-appointed receiver.

     SECTION 6.02 Application of Proceeds. The U.S. Collateral Agent shall apply the proceeds of
any collection or sale of the Collateral, as well as any Collateral consisting of cash, in
accordance with Section 7.05 of the Credit Agreement. The U.S. Collateral Agent shall have
absolute discretion as to the time of application of any such proceeds, moneys or balances in
accordance with this Agreement and the Credit Agreement. Upon any sale of the Collateral by the
U.S. Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial
proceeding), the receipt of the U.S. Collateral Agent or of the officer making the sale

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 12

 

shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and
such purchaser or purchasers shall not be obligated to see to the application of any part of the
purchase money paid over to the U.S. Collateral Agent or such officer or be answerable in any way
for the misapplication thereof.

     SECTION 6.03 Grant of License to Use Intellectual Property. For the purpose of enabling the
U.S. Collateral Agent to exercise rights and remedies under this Article at such time as the U.S.
Collateral Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor
hereby grants to the U.S. Collateral Agent an irrevocable, non-exclusive license (exercisable
without payment of royalty or other compensation to the Grantors) to use, license or sub-license
any of the Collateral consisting of Intellectual Property now owned or hereafter acquired by such
Grantor, and wherever the same may be located, and including in such license reasonable access to
all media in which any of the licensed items may be recorded or stored and to all computer software
and programs used for the compilation or printout thereof. The use of such license by the U.S.
Collateral Agent shall be exercised, at the option of the U.S. Collateral Agent, upon the
occurrence and during the continuation of an Event of Default; provided that any license,
sub-license or other transaction entered into by the U.S. Collateral Agent in accordance herewith
shall be binding upon the Grantors notwithstanding any subsequent cure of an Event of Default.

ARTICLE VII

Miscellaneous

     SECTION 7.01 Notices. All communications and notices hereunder shall (except as otherwise
expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit
Agreement. All communications and notices hereunder to any Guarantor shall be given to it at its
address or telecopy number set forth on Schedule I, with a copy to the U.S. Borrower.

     SECTION 7.02 Security Interest Absolute. All rights of the U.S. Collateral Agent hereunder,
the Security Interest and all obligations of the Grantors hereunder shall be absolute and
unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement,
any other Loan Document, any agreement with respect to any of the Obligations or any other
agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or
place of payment of, or in any other term of, all or any of the Obligations, or any other amendment
or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or
any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other
collateral, or any release or amendment or waiver of or consent under or departure from any
guarantee, securing or guaranteeing all or any of the Obligations, or (d) any other circumstance
that might otherwise constitute a defense available to, or a discharge of, any Grantor in respect
of the Obligations or this Agreement.

     SECTION 7.03 Survival of Agreement. All covenants, agreements, representations and warranties
made by any Grantor herein and in the certificates or other instruments prepared or delivered in
connection with or pursuant to this Agreement shall be considered to have been relied upon by the
Secured Parties and shall survive the making by the Lenders of the Loans, and

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 13

 

the execution and delivery to the Lenders of any notes evidencing such Loans, regardless of
any investigation made by the Lenders or on their behalf, and shall continue in full force and
effect until this Agreement shall terminate.

     SECTION 7.04 Binding Effect; Several Agreement. This Agreement shall become effective as to
any Grantor when a counterpart hereof executed on behalf of such Grantor shall have been delivered
to the U.S. Collateral Agent and a counterpart hereof shall have been executed on behalf of the
U.S. Collateral Agent, and thereafter shall be binding upon such Grantor and the U.S. Collateral
Agent and their respective successors and assigns, and shall inure to the benefit of such Grantor,
the U.S. Collateral Agent and the other Secured Parties and their respective successors and
assigns, except that no Grantor shall have the right to assign or transfer its rights or
obligations hereunder or any interest herein or in the Collateral (and any such assignment or
transfer shall be void) except as expressly contemplated by this Agreement, the Credit Agreement
or the other Loan Documents. This Agreement shall be construed as a separate agreement with
respect to each Grantor and may be amended, modified, supplemented, waived or released with respect
to any Grantor without the approval of any other Grantor and without affecting the obligations of
any other Grantor hereunder.

     SECTION 7.05 Successors and Assigns. Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the successors and assigns of such party;
and all covenants, promises and agreements by or on behalf of any Grantor or the U.S. Collateral
Agent that are contained in this Agreement shall bind and inure to the benefit of their respective
successors and assigns.

     SECTION 7.06 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAWS OF THE STATE OF NEW YORK.

     SECTION 7.07 Waivers; Amendment. (a) No failure or delay of the U.S. Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the U.S. Collateral Agent hereunder and of
the U.S. Collateral Agent and the other Secured Parties under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No
waiver of any provisions of this Agreement or any other Loan Document or consent to any departure
by any Grantor therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) below, 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 Grantor in any case
shall entitle such Grantor or any other Grantor to any other or further notice or demand in similar
or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the U.S. Collateral Agent and the
Grantor or Grantors with respect to which such waiver, amendment or modification is to apply,
subject to any consent required in accordance with Section 9.08 of the Credit Agreement.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 14

 

     SECTION 7.08 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS,
AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.09.

     SECTION 7.09 Severability. In the event any one or more of the provisions contained in this
Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions contained herein shall not in any way be affected or
impaired thereby (it being understood that the invalidity of a particular provision in a particular
jurisdiction shall not in and of itself affect the validity of such provision in any other
jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 7.10 Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall constitute an original but all of which when taken together shall constitute but one
contract and shall become effective as provided in Section 7.04. Delivery of an executed signature
page to this Agreement by facsimile transmission shall be effective as delivery of a manually
executed counterpart hereof.

     SECTION 7.11 Headings. Article and Section headings used herein are for the purpose of
reference only, are not part of this Agreement and are not to affect the construction of, or to be
taken into consideration in interpreting, this Agreement.

     SECTION 7.12 Jurisdiction; Consent to Service of Process. (a) Each Grantor hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of any New York State court or Federal court of the United States of America sitting
in the Borough of Manhattan, New York, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such Federal court. Each
of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that the U.S. Collateral
Agent, the Administrative Agent, the Issuing Banks or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement or the other Loan Documents against any Grantor or
its properties in the courts of any jurisdiction.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 15

 

     (b) Each Grantor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 7.01. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 7.13 Termination. This Agreement and the Security Interest shall terminate when all
the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to
lend, the Aggregate L/C Exposure has been reduced to zero and the Issuing Banks have no further
commitment to issue Letters of Credit under the Credit Agreement, at which time the U.S. Collateral
Agent shall execute and deliver to the Grantors, at the Grantors’ expense, all Uniform Commercial
Code termination statements and similar documents which the Grantors shall reasonably request to
evidence such termination. Any execution and delivery of termination statements or documents
pursuant to this Section 7.14 shall be without recourse to or warranty by the U.S. Collateral
Agent. A Grantor (other than the U.S. Borrower) shall automatically be released from its
obligations hereunder and the Security Interest in the Collateral of such Grantor shall be
automatically released in the event that all the capital stock of such Grantor shall be sold,
transferred or otherwise disposed of to a person that is not a Subsidiary of the U.S. Borrower in
accordance with the terms of the Credit Agreement; provided that the Required Lenders shall have
consented to such sale, transfer or other disposition (to the extent required by the Credit
Agreement) and the terms of such consent did not provide otherwise.

     SECTION 7.14 Additional Grantors. Pursuant to Section 5.09 of the Credit Agreement, each
Domestic Subsidiary that is a Material Subsidiary of the U.S. Borrower that was not a Material
Subsidiary on the date of the Credit Agreement is required to enter into this Agreement as a
Subsidiary Grantor. Upon execution and delivery after the date hereof by the U.S. Collateral Agent
and such Domestic Subsidiary of an instrument in the form of Annex 2 hereto, such Domestic
Subsidiary shall become a Grantor hereunder with the same force and effect as if originally named
as a Grantor herein. The execution and delivery of any instrument adding an additional Grantor as
a party to this Agreement shall not require the consent of any other Grantor hereunder. The rights
and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the
addition of any new Grantor as a party to this Agreement.

     SECTION 7.15 Fraudulent Conveyance. Notwithstanding anything contained herein to the
contrary, it is the intention of each Grantor, the U.S. Collateral Agent and the other Secured
Parties that the amount of the Obligation secured by each Grantor’s interests in any of its real or
personal property shall be in, but not in excess of, the maximum amount permitted by fraudulent
conveyance, fraudulent transfer and other similar law, rule or regulation of any Governmental
Authority applicable to such Grantor. Accordingly, notwithstanding anything to the contrary
contained in this Agreement in any other agreement or instrument executed in

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 16

 

connection with the payment of any of the Obligations, the amount of the Obligations secured
by each Grantor’s interests in any of its real or personal property pursuant to this Agreement
shall be limited to an aggregate amount equal to the largest amount that would not render such
Grantor’s obligations hereunder or the liens and security interest granted to the U.S. Collateral
Agent hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provision of any other applicable Insolvency Law or other law, rule or regulation of any
Governmental Authority.

     SECTION 7.16 Amendment and Restatement. The Grantors and Wells Fargo have agreed that this
Agreement is an amendment and restatement of the Existing Security Agreement in its entirety and
the terms and provisions hereof supersede the terms and provisions thereof, and this Agreement is
not a new or substitute agreement or novation of the Existing Security Agreement. All the rights,
titles, liens, security interests, and assignments securing the Obligations (as defined in the
Existing Security Agreement) shall secure the Obligations, insofar and only insofar as the same
cover the Collateral, and all liens, security interests, and assignments against the Collateral
securing the Obligations (as defined in the Existing Security Agreement) are hereby renewed,
extended, and modified to secure the Obligations.

[SIGNATURE PAGES FOLLOW]

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 17

 

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 	 	 	 	 	 	 

	OIL STATES INTERNATIONAL, INC.,	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	by:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	[EACH OF THE GUARANTORS LISTED	 	 	 	WELLS FARGO BANK, NATIONAL	 	 
	ON SCHEDULE I HERETO],	 	 	 	ASSOCIATION, as U.S. Collateral Agent,	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	by:

	 	 	 	 	 	by:	 	 	 	 
	 

	 	 

Name:
	 	 	 	 	 	 

Name:
	 	 
	 

	 	Title: Authorized Officer
	 	 	 	 	 	Title:	 	 

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 18

 

SCHEDULE I

GUARANTORS

Acute Technological Services, Inc.

Capstar Drilling GP, L.L.C.

Capstar Drilling, Inc.

Capstar Drilling LP, L.L.C.

Capstar Holding, L.L.C.

General Marine Leasing, LLC

Oil States Energy Services, Inc.

Oil States Industries, Inc.

Oil States Management, Inc.

Oil States Skagit SMATCO, LLC

PTI Group USA LLC

PTI Mars Holdco 1, LLC

Sooner Holding Company

Sooner, Inc.

Sooner Pipe, L.L.C.

Specialty Rental Tools & Supply, L.L.C.

Stinger Wellhead Protection, Inc.

Well Testing, Inc.

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 19

 

Annex 1 to the

Amended and Restated

U.S. Security Agreement

[Form of]

PERFECTION CERTIFICATE

     Reference is made to (a) the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Oil States International, Inc. (the “U.S. Borrower”), PTI Group Inc. (the “Canadian Parent”),
PTI Premium Camp Services Ltd. (“PTI Premium” and, together with the Canadian Parent, the “Canadian
Borrowers” and, together with the U.S. Borrower, the “Borrowers”), the lenders from time to time
party thereto (the “Lenders”), Wells Fargo Bank, National Association, as administrative agent (in
such capacity, the “Administrative Agent”) and collateral agent (in such capacity, the “U.S.
Collateral Agent”) for the Lenders and Royal Bank of Canada (“RBC”), as administrative agent and
collateral agent for the Canadian Lenders, and (b) the Amended and Restated U.S. Security Agreement
dated as of December 10, 2010, (as amended, supplemented or otherwise modified from time to time,
the “U.S. Security Agreement”) among the U.S. Borrower, the Subsidiary Guarantors party thereto and
the U.S. Collateral Agent. Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Credit Agreement or the Security Agreement, as applicable.

The undersigned, a Responsible Officer of the U.S. Borrower, hereby certifies to the U.S.
Collateral Agent and each other Secured Party as follows:

1. Names.

(a) Set forth in Schedule 1(A) is the exact corporate name of each Grantor, as such name appears in
its respective certificate of incorporation (or equivalent organizational document), along with any
respective state organizational numbers and Federal Taxpayer Identification Numbers. The state of
incorporation or formation set forth in Schedule 1(A) is the only jurisdiction in which each entity
is organized.

(b) Set forth in Schedule 1(B) is each other corporate name each Grantor has had in the past five
years, together with the date of the relevant change.

(c) Set forth in Schedule 1(C) is a list of all trade names used by each Grantor or any of its
divisions or other business units in connection with the conduct of its business or the ownership
of its properties at any time during the past five years.

2. Current Locations.

(a) Set forth in Schedule 2(A) opposite the name of each Grantor are all locations where such
Grantor maintains any material books or records relating to any Accounts Receivable (with each
location at which material chattel paper, if any, is kept being indicated by an “*”).

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 20

 

(b) Set forth in schedule 2(B) opposite the name of each Grantor are all the locations maintained
by the U.S. Borrower and its Subsidiaries where such Grantor regularly maintains material amounts
of Collateral constituting Equipment or Goods not identified above.

IN WITNESS WHEREOF, the undersigned have duly executed this certificate on this 10th day of
December, 2010.

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL,
INC.

 	 
	 	By:  	Bradley J. Dodson
 	 
	 	 	Title: Senior Vice President, Chief Financial 	 
	 	 	Officer & Treasurer 	 
	 

Exhibit F-1
— Form of Amended and Restated U.S. Security Agreement

Page 21

 

SCHEDULE 1(A)

Name and Jurisdiction

	 	 	 	 	 	 	 
	 	 	 	 	Organization	 	 
	 	 	State of Incorporation	 	Identification	 	Tax Identification
	Legal Name of Grantor	 	or Formation	 	Number (if any)	 	Number
	Acute Technological Services, Inc.
	 	Texas	 	0800957942	 	12057863818
	[AcuteCyberone LLC]
	 	Texas	 	0801034319	 	32038037100
	[AcuteCyberTwo LLC]
	 	Texas	 	0801034320	 	32038037092
	Capstar Drilling GP, L.L.C.
	 	Delaware	 	3552264	 	None
	Capstar Drilling LP, L.L.C.
	 	Delaware	 	3552015	 	22-3861885
	Capstar Drilling, Inc.
	 	Texas	 	22386400	 	75-1226273
	Capstar Holding, L.L.C.
	 	Delaware	 	4380367	 	75-1950400
	General Marine Leasing, LLC
	 	Delaware	 	3605630	 	55-0809699
	Oil States Energy Services , Inc.
	 	Delaware	 	3605168	 	76-0562413
	Oil States Industries, Inc.
	 	Delaware	 	2020171	 	75-0734429
	Oil States Management, Inc.
	 	Delaware	 	3605217	 	55-0809703
	Oil States Skagit SMATCO, LLC
	 	Delaware	 	3473681	 	72-1518822
	PTI Group USA LLC
	 	Delaware	 	4758480	 	27-1509846
	PTI Mars Holdco 1, LLC
	 	Delaware	 	4880432	 	27-3611340
	Sooner Holding Company
	 	Delaware	 	2637465	 	73-1498779
	Sooner Inc.
	 	Delaware	 	2913038	 	73-1558443
	Sooner Pipe, L.L.C.
	 	Delaware	 	4380404	 	73-0552990
	Specialty Rental Tools & Supply,
L.L.C.
	 	Delaware	 	4380337	 	76-0286357
	Stinger Wellhead Protection,
Incorporated
	 	Texas	 	0108484600	 	75-2239172
	Well Testing, Inc.
	 	Delaware	 	4375592	 	26-0440252

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 22

 

SCHEDULE 1(B)

Previous Names

	 	 	 	 	 
	Grantor	 	Previous Name	 	Date of Change
	Oil State Energy Services, Inc.
	 	HWC Energy Services, Inc.
	 	March 9, 2006
	 	 	 	 	 
	Capstar Holding, L.L.C.
	 	Capstar Drilling, L.L.C.
	 	January 1, 2010
	 	 	 	 	 
	Capstar Holding, L.L.C.
	 	Capstar Drilling, L.P.
	 	June 30, 2007
	 	 	 	 	 
	Capstar Drilling, Inc.
	 	Elenburg Exploration Company,
	 	December 22, 2009
	 
	 	Inc.	 	 
	 	 	 	 	 
	Sooner Pipe, L.L.C.
	 	Sooper Pipe, L.P.
	 	June 29, 2007
	 	 	 	 	 
	Specialty Rental Tools & Supply,
	 	Specialty Rental Tools & Supply,
	 	June 28, 2007
	L.L.C.
	 	L.P.	 	 
	 	 	 	 	 
	Specialty Rental Tools & Supply,
	 	Acquisition (One) Company, Inc.
	 	August 1, 2007
	L.L.C.	 	 	 	 
	 	 	 	 	 
	Specialty Rental Tools & Supply,
	 	Schooner Petroleum Services, Inc.
	 	May 7, 2009
	L.L.C.	 	 	 	 

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 23

 

SCHEDULE 1(C)

Trade Names

	 	 	 
	Grantor	 	Trade Names
	General Marine Leasing, LLC

	 	International Quarters
	 
	 	 
	Oil States Industries, Inc.

	 	CeCo Holdings, Inc.
	 
	 	 
	 

	 	Oil States
	 
	 	 
	Oil States Skagit SMATCO, LLC

	 	Oil States Applied Hydraulic Systems
	 
	 	 
	 

	 	Oil States Nautilus Crane
	 
	 	 
	Specialty Rental Tools & Supply, L.L.C.

	 	STS
	 

	 	C&H Rental Tools
	 
	 	 
	 

	 	Southern Specialty Rental Tools

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 24

 

SCHEDULE 2(A)

Material Books and Records Locations

	 	 	 
	Grantor	 	Mailing Address
	Acute Technological Services, Inc.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Capstar Holding, L.L.C.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Capstar Drilling GP, L.L.C.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Capstar Drilling LP, L.L.C.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Capstar Drilling, Inc.

	 	7701-1A South Cooper St.
	 

	 	Arlington, Texas 76001; and
	 

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	General Marine Leasing, LLC

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Oil States Energy Services, Inc.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Oil States Industries, Inc.

	 	7701-1A South Cooper St.
	 

	 	Arlington, Texas 76001; and
	 

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Oil States Management, Inc.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Oil States Skagit Smatco, LLC

	 	7701-1A South Cooper St.
	 

	 	Arlington, Texas 76001; and
	 

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	PTI Group USA LLC

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	PTI Mars Holdco 1, LLC

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Sooner Holding Company

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Sooner Inc.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Sooner Pipe, L.L.C.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Specialty Rental Tools & Supply, L.L.C.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079; and
	 

	 	1600 East Highway 6, Suite 418
	 

	 	Alvin, Texas 77511
	 
	 	 
	Stinger Wellhead Protection, Incorporated

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079
	 
	 	 
	Well Testing, Inc.

	 	1155 Dairy Ashford, Suite 725
	 

	 	Houston, TX 770079

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 25

 

SCHEDULE 2(B)

Location of Material Collateral

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Acute Technological Services, Inc.
	 	11925 Brittmoore Park Drive	 	Houston	 	TX	 	77041
	Capstar Drilling, Inc.
	 	1910 N Loop Avenue	 	Casper	 	WY	 	82601
	Capstar Drilling, Inc.
	 	2nd Street NW, East of 78th Avenue NW	 	Havre	 	MT	 	59501
	Capstar Drilling, Inc.
	 	8901 N County Road W	 	Odessa	 	TX	 	79764
	Capstar Drilling, Inc.
	 	Hwy 2 E & Hi-Line Road	 	Malta	 	MT	 	59538
	General Marine Leasing, L.L.C.
	 	2315 & 2317 Engineers Road	 	Belle Chase	 	LA	 	70037
	General Marine Leasing, L.L.C.
	 	2407 Engineers Road	 	Belle Chase	 	LA	 	70037
	General Marine Leasing, L.L.C.
	 	724 W Main	 	Broussard	 	LA	 	70518
	General Marine Leasing, L.L.C.
	 	US Hwy 285 & Gonzales Loop	 	Fort Stockton	 	TX	 	79735
	Oil States Industries, Inc.
	 	1015 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1017 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1027 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1031 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	10320 E 58th Street	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	10322 E 58th Street	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	10324 E 58th Street	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	10332 E 58th Street	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	10334 E 58th Street	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	105 Saint Andrews Square	 	Peachtree City	 	GA	 	30269
	Oil States Industries, Inc.
	 	1101 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1111 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1115 S Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	1118 N Commercial Blvd	 	Arlington	 	TX	 	76001
	Oil States Industries, Inc.
(Oil States Skagit SMATCO LLC)
	 	1180 Mulberry Road	 	Houma	 	LA	 	70363
	Oil States Industries, Inc.
	 	1205 N Commercial Blvd	 	Arlington	 	TX	 	76017
	Oil States Industries, Inc.
	 	14911 D Steubner Airline	 	Houston	 	TX	 	77109
	Oil States Industries, Inc.
	 	16730 Jacintoport Blvd	 	Houston	 	TX	 	77015
	Oil States Industries, Inc.
	 	21912 Mueschke Road	 	Tomball	 	TX	 	77377
	Oil States Industries, Inc. (Oil States
Skagit SMATCO LLC)
	 	311 Industrial Avenue C	 	Houma	 	LA	 	70363
	Oil States Industries, Inc.
	 	401 Plum Street	 	Lampasas	 	TX	 	76550
	Oil States Industries, Inc.
	 	5563 S 104th East Avenue	 	Tulsa	 	OK	 	74146
	Oil States Industries, Inc.
	 	6120 E Orem Drive	 	Houston (Hobby)	 	TX	 	77048
	Oil States Industries, Inc.
	 	7120 Brittmoore Road, Suite 430	 	Houston	 	TX	 	77041
	Oil States Industries, Inc.
	 	7501 S Cooper Street	 	Arlington	 	TX	 	76001
	Oil States Industries, Inc.
	 	7701-A S Cooper Street	 	Arlington	 	TX	 	76001
	Oil States Industries, Inc.
	 	7701-B S Cooper Street	 	Arlington	 	TX	 	76001
	Oil States Industries, Inc.
	 	Commercial Blvd E	 	Arlington	 	TX	 	76001
	Oil States Industries, Inc.
	 	US Hwy 190 E	 	Lampasas	 	TX	 	76550
	Oil States Industries, Inc.
	 	US Hwy 190 E	 	Lampasas	 	TX	 	76550
	Oil States Industries, Inc.
	 	W265 N5755 Mount Du Lac Drive	 	Lisbon	 	WI	 	53089
	Oil States International, Inc.
	 	1155 Dairy Ashford Street, Suite 700/725	 	Houston	 	TX	 	77079

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 26

 

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Oil States International, Inc.
	 	2501 S State Highway 121 Bus, Suite 500 (Dallas	 	Lewisville	 	TX	 	75067
	 
	 	Convergence Center)	 	 	 	 	 	 
	Oil States International, Inc.
	 	333 Clay Street, Suite 4620 (Three Allen Center)	 	Houston	 	TX	 	77002
	PTI Remote Site Services USA Inc.
	 	2710 Commercial Way	 	Rock Springs	 	WY	 	82901
	PTI Remote Site Services USA Inc.
	 	400 Inverness Parkway, Suite 200	 	Englewood	 	CO	 	80112
	PTI Remote Site Services USA Inc.
	 	704 6th Street E	 	Culbertson	 	MT	 	59218
	PTI Remote Site Services USA Inc.
	 	7920 63rd Street NW	 	Stanley	 	ND	 	58784
	PTI Remote Site Services USA Inc.
	 	Casey Osborn Lane, #7	 	Pinedale	 	WY	 	82941
	PTI Remote Site Services USA Inc.
	 	Williams Mountain West #4	 	Rifle	 	CO	 	81650
	PTI Group USA LLC
	 	333 Clay Street, Suite 4620 (Three Allen Center)	 	Houston	 	TX	 	77002
	Sooner Pipe, L.L.C.
	 	1010 McCarty Drive	 	Houston	 	TX	 	77029
	Sooner Pipe, L.L.C.
	 	10200 Platte River Road	 	Casper	 	WY	 	82601
	Sooner Pipe, L.L.C.
	 	10222 Sheldon Road	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	1075 Peters Road	 	Harvey	 	LA	 	70058
	Sooner Pipe, L.L.C.
	 	1100 Poydras Street, Suite 2900	 	New Orleans	 	LA	 	70163
	Sooner Pipe, L.L.C.
	 	11919 County Road 128 W	 	Midland	 	TX	 	79701
	Sooner Pipe, L.L.C.
	 	1208 1st Avenue	 	Harvey	 	LA	 	70058
	Sooner Pipe, L.L.C.
	 	12100 W Little York	 	Houston	 	TX	 	77041
	Sooner Pipe, L.L.C.
	 	12307 W County Road 125	 	Odessa	 	TX	 	79765
	Sooner Pipe, L.L.C.
	 	1331 Lamar Street,  Suite 970 (Four Houston	 	Houston	 	TX	 	77010
	 
	 	Center)	 	 	 	 	 	 
	Sooner Pipe, L.L.C.
	 	150 S Loyalsock Avenue	 	Montoursville	 	PA	 	17754
	Sooner Pipe, L.L.C.
	 	15706 Old Beaumont Hwy	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	16818 Ramsey Road	 	Crosby	 	TX	 	77532
	Sooner Pipe, L.L.C.
	 	175 Pipeyard, 4836 CR 242	 	Snyder	 	TX	 	79549
	Sooner Pipe, L.L.C.
	 	1914 Grand Caillou Road	 	Houma	 	LA	 	70363
	Sooner Pipe, L.L.C.
	 	1919 Crosby-Dayton Road	 	Crosby	 	TX	 	77532
	Sooner Pipe, L.L.C.
	 	19210 Hardy Road	 	Houston	 	TX	 	77043
	Sooner Pipe, L.L.C.
	 	201 Klein Street	 	Westwego	 	LA	 	70094
	Sooner Pipe, L.L.C.
	 	2030 Jacinto Port Blvd	 	Channelview	 	TX	 	77015
	Sooner Pipe, L.L.C.
	 	2121 W Murphy	 	Odessa	 	TX	 	76763
	Sooner Pipe, L.L.C.
	 	2186 Grand Caillou Road	 	Houma	 	LA	 	70363
	Sooner Pipe, L.L.C.
	 	2250 N Cresson Hwy	 	Graham	 	TX	 	76450
	Sooner Pipe, L.L.C.
	 	2600 Navigation Blvd	 	Corpus Christi	 	TX	 	78403
	Sooner Pipe, L.L.C.
	 	2694 FM 250	 	Lone Star	 	TX	 	75669
	Sooner Pipe, L.L.C.
	 	2747 Legionville Road	 	Ambridge	 	PA	 	15003
	Sooner Pipe, L.L.C.
	 	3 Miles North on Hwy 214	 	Denver City	 	TX	 	79323
	Sooner Pipe, L.L.C.
	 	3000 W Bender	 	Hobbs	 	NM	 	88240
	Sooner Pipe, L.L.C.
	 	302 McCarty Street	 	Houston	 	TX	 	77205
	Sooner Pipe, L.L.C.
	 	3101 Holmes Road	 	Houston	 	TX	 	77051
	Sooner Pipe, L.L.C.
	 	320 Decker Drive, Suite 231A	 	Irving	 	TX	 	75062
	Sooner Pipe, L.L.C.
	 	3200 Hwy 277 W	 	Carrizo Springs	 	TX	 	78834
	Sooner Pipe, L.L.C.
	 	3333 Brazos	 	Odessa	 	TX	 	79764
	Sooner Pipe, L.L.C.
	 	3360 Davey Allison Blvd	 	Hueytown	 	AL	 	35023
	Sooner Pipe, L.L.C.
	 	3501 N Poplar	 	Casper	 	WY	 	82604
	Sooner Pipe, L.L.C.
	 	3721 Hwy 367 S	 	Searcy	 	AR	 	72123
	Sooner Pipe, L.L.C.
	 	3807 S.C.R. 1297	 	Odessa	 	TX	 	79768
	Sooner Pipe, L.L.C.
	 	3817 Melancon Road	 	Broussard	 	LA	 	70518

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 27

 

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Sooner Pipe, L.L.C.
	 	400 Sandstone Avenue	 	Farmington	 	NM	 	87401
	Sooner Pipe, L.L.C.
	 	400 W Apache Drive	 	Hobbs	 	NM	 	88240
	Sooner Pipe, L.L.C.
	 	401 S Boston, Suite 1000 (Mid Continent Tower)	 	Tulsa	 	OK	 	74103
	Sooner Pipe, L.L.C.
	 	4551 Herrera Road	 	Farmington	 	NM	 	87401
	Sooner Pipe, L.L.C.
	 	4725 North Blvd	 	Edmond	 	OK	 	73034
	Sooner Pipe, L.L.C.
	 	4950 N County Road 967	 	Blytheville	 	AR	 	72315
	Sooner Pipe, L.L.C.
	 	511 58th Street W	 	Williston	 	ND	 	58801
	Sooner Pipe, L.L.C.
	 	51896 Old Nikiski Beach Road	 	Nikiski	 	AK	 	99635
	Sooner Pipe, L.L.C.
	 	539 S Sheldon Road	 	Houston	 	TX	 	77216
	Sooner Pipe, L.L.C.
	 	539-A S Sheldon Road	 	Channelview	 	TX	 	77563
	Sooner Pipe, L.L.C.
	 	6149 W 10th	 	Odessa	 	TX	 	79769
	Sooner Pipe, L.L.C.
	 	6401 N Eldridge Pkwy	 	Houston	 	TX	 	77041
	Sooner Pipe, L.L.C.
	 	6615 River Road	 	Marrero	 	LA	 	70072
	Sooner Pipe, L.L.C.
	 	6775 W Yellowstone	 	Casper	 	WY	 	82602
	Sooner Pipe, L.L.C.
	 	7411 Mesa Drive	 	Houston	 	TX	 	77028
	Sooner Pipe, L.L.C.
	 	7735 Miller Road #3	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	7812 W Hwy 80	 	Midland	 	TX	 	79706
	Sooner Pipe, L.L.C.
	 	7814 Miller Road	 	Houston	 	TX	 	77213
	Sooner Pipe, L.L.C.
	 	8000 County Road 1001	 	Godley	 	TX	 	76044
	Sooner Pipe, L.L.C.
	 	806 Engineers Road	 	Belle Chase	 	LA	 	70037
	Sooner Pipe, L.L.C.
	 	8216 Miller Road #3	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	8500 Miller Road 2	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	8640 N Greenriver Drive	 	Houston	 	TX	 	77028
	Sooner Pipe, L.L.C.
	 	9000 County Rd. 1001	 	Godley	 	TX	 	76044
	Sooner Pipe, L.L.C.
	 	9015 Sheldon Road	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	9019 N Country Road W	 	Odessa	 	TX	 	79764
	Sooner Pipe, L.L.C.
	 	9393 Sheldon Road	 	Houston	 	TX	 	77049
	Sooner Pipe, L.L.C.
	 	9500 Sheldon Road	 	Channelview	 	TX	 	77530
	Sooner Pipe, L.L.C.
	 	9518 E Mount Houston Road	 	Houston	 	TX	 	77050
	Sooner Pipe, L.L.C.
	 	Box 128, Blair Avenue	 	Rock Springs	 	WY	 	82901
	Sooner Pipe, L.L.C.
	 	FM 729	 	Lone Star	 	TX	 	75668
	Sooner Pipe, L.L.C.
	 	Hwy 2 & 85 N	 	Williston	 	ND	 	58801
	Sooner Pipe, L.L.C.
	 	Hwy 359 S, Avenue A	 	Bruni	 	TX	 	78344
	Sooner Pipe, L.L.C.
	 	Hwy FM 250 E	 	Lone Star	 	TX	 	75668
	Sooner Pipe, L.L.C.
	 	Junction Hwy 51 & 56	 	Rolla	 	KS	 	67952
	Sooner Pipe, L.L.C.
	 	N Service Road I-20 E	 	Odessa	 	TX	 	79764
	Sooner Pipe, L.L.C.
	 	R389 N 26th	 	Artesia	 	NM	 	88210
	Sooner Pipe, L.L.C.
	 	Syracuse Road	 	Amelia	 	LA	 	70340
	Specialty Rental Tools and Supply,
L.L.C.
	 	101 W Hwy 31	 	Kilgore	 	TX	 	75662
	Specialty Rental Tools and Supply,
L.L.C.
	 	110 & 114 Row Two Canebrake	 	Lafayette	 	LA	 	70508
	Specialty Rental Tools and Supply,
L.L.C.
	 	1131 E FM 517	 	Alvin	 	TX	 	77511
	Specialty Rental Tools and Supply,
L.L.C.
	 	1200 W Washington	 	Krebs	 	OK	 	74554
	Specialty Rental Tools and Supply,
L.L.C.
	 	121 Old Farm Lane	 	Broussard	 	LA	 	70518

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 28

 

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Specialty Rental Tools and Supply,
L.L.C.
	 	1529 Coteau Road	 	Houma	 	LA	 	70364
	Specialty Rental Tools and Supply,
L.L.C.
	 	1600 E Hwy 6, Suite 205/400/418/425	 	Alvin	 	TX	 	77511
	Specialty Rental Tools and Supply,
L.L.C.
	 	170 Exchange Avenue	 	Conway	 	AR	 	72032
	Specialty Rental Tools and Supply,
L.L.C.
	 	185 Vermilion Bay Lane (Cypremort Point)	 	Franklin	 	LA	 	70538
	Specialty Rental Tools and Supply,
L.L.C.
	 	20 Gammage Road	 	Ellisville	 	MS	 	39437
	Specialty Rental Tools and Supply,
L.L.C.
	 	200 Miller Street	 	Minden	 	LA	 	71055
	Specialty Rental Tools and Supply,
L.L.C.
	 	202 Ranch Road, 6086-D	 	Laredo	 	TX	 	78044
	Specialty Rental Tools and Supply,
L.L.C.
	 	21 Avenue W	 	Williston	 	ND	 	58801
	Specialty Rental Tools and Supply,
L.L.C.
	 	210 Commerce Drive	 	Alice	 	TX	 	78332
	Specialty Rental Tools and Supply,
L.L.C.
	 	255 Johnson Road	 	Canonsburg	 	PA	 	15317
	Specialty Rental Tools and Supply,
L.L.C.
	 	265 Meadowlands Blvd	 	Washington	 	PA	 	15301
	Specialty Rental Tools and Supply,
L.L.C.
	 	301 26th Street E	 	Williston	 	ND	 	58801
	Specialty Rental Tools and Supply,
L.L.C.
	 	302 La Rue France, Suite 101 & 204	 	Lafayette	 	LA	 	70508
	Specialty Rental Tools and Supply,
L.L.C.
	 	3064 FM 46 North	 	Franklin	 	TX	 	77856
	Specialty Rental Tools and Supply,
L.L.C.
	 	3219 Tower Road	 	Santa Fe	 	TX	 	77517
	Specialty Rental Tools and Supply,
L.L.C.
	 	3504 S Hwy 6	 	Elk City	 	OK	 	73644
	Specialty Rental Tools and Supply,
L.L.C.
	 	3804 E Rio Grande	 	Victoria	 	TX	 	77901
	Specialty Rental Tools and Supply,
L.L.C.
	 	3813 S Hwy 281	 	Alice	 	TX	 	78333
	Specialty Rental Tools and Supply,
L.L.C.
	 	4380 Hwy 563	 	Simsboro	 	LA	 	71275
	Specialty Rental Tools and Supply,
L.L.C.
	 	4704 E Admiral Doyle Drive	 	New Iberia	 	LA	 	70560
	Specialty Rental Tools and Supply,
L.L.C.
	 	500 N Water Street, Suite 801	 	Corpus Christi	 	TX	 	78401
	Specialty Rental Tools and Supply,
L.L.C.
	 	5030 Flournoy Lucas Road	 	Shreveport	 	LA	 	71129
	Specialty Rental Tools and Supply,
L.L.C.
	 	6101 Foothill Blvd	 	Rock Springs	 	WY	 	82901
	Specialty Rental Tools and Supply,
L.L.C.
	 	6501-C East North 281	 	Edinburg	 	TX	 	78540
	Specialty Rental Tools and Supply,
L.L.C.
	 	6590 Corporation Pkwy	 	Fort Worth	 	TX	 	76126
	Specialty Rental Tools and Supply,
L.L.C.
	 	7650-D County Road 48 N	 	Iowa Colony	 	TX	 	77583

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 29

 

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Specialty Rental Tools and Supply,
L.L.C.
	 	9019 US Hwy 271	 	Tyler	 	TX	 	75708
	Specialty Rental Tools and Supply,
L.L.C.
	 	945 Jeanette Drive (Bay 3)	 	Conway	 	AR	 	72032
	Specialty Rental Tools and Supply,
L.L.C.
	 	945 Jeanette Drive (Tube)	 	Conway	 	AR	 	72032
	Specialty Rental Tools and Supply,
L.L.C.
	 	945 Jeanette Drive (Wire)	 	Conway	 	AR	 	72032
	Specialty Rental Tools and Supply,
L.L.C.
	 	9802 W I-20	 	Midland	 	TX	 	79711
	Stinger Wellhead Protection,
Incorporated
	 	10198 Hope Hwy	 	Artesia	 	NM	 	88210
	Stinger Wellhead Protection,
Incorporated
	 	115 Petrochem Drive	 	Minden	 	LA	 	71055
	Stinger Wellhead Protection,
Incorporated
	 	12626 Snow Road	 	Bakersfield	 	CA	 	93314
	Stinger Wellhead Protection,
Incorporated
	 	1420 W Hwy 84	 	Fairfield	 	TX	 	75840
	Stinger Wellhead Protection,
Incorporated
	 	196 23rd Avenue East	 	Dickinson	 	ND	 	58601
	Stinger Wellhead Protection,
Incorporated
	 	20 Gammage Road	 	Ellisville	 	MS	 	39437
	Stinger Wellhead Protection,
Incorporated
	 	25545 State Hwy 112	 	Cameron (Poteau)	 	OK	 	74932-2215
	Stinger Wellhead Protection,
Incorporated
	 	2601 S County Road 1257	 	Midland	 	TX	 	79706
	Stinger Wellhead Protection,
Incorporated
	 	301 26th Street E	 	Williston	 	ND	 	58801
	Stinger Wellhead Protection,
Incorporated
	 	301 N Juniper	 	Perryton	 	TX	 	79070
	Stinger Wellhead Protection,
Incorporated
	 	3201 GoForth Road	 	Kilgore	 	TX	 	75662
	Stinger Wellhead Protection,
Incorporated
	 	321 W 12th	 	Elk City	 	OK	 	73644
	Stinger Wellhead Protection,
Incorporated
	 	3225 Melcat Drive	 	Oklahoma City	 	OK	 	73179-7618
	Stinger Wellhead Protection,
Incorporated
	 	3300 S Ann Arbor	 	Oklahoma City	 	OK	 	73179-7618
	Stinger Wellhead Protection,
Incorporated
	 	405 E Orange	 	Orange Grove	 	TX	 	78372
	Stinger Wellhead Protection,
Incorporated
	 	4301 Will Rogers Pkwy, Suite 600-700 & 800	 	Oklahoma City	 	OK	 	73108
	Stinger Wellhead Protection,
Incorporated
	 	51 US Hwy 380	 	Bridgeport	 	TX	 	76426-1164
	Stinger Wellhead Protection,
Incorporated
	 	5300 SW 33rd Street	 	Oklahoma City	 	OK	 	73179-7618
	Stinger Wellhead Protection,
Incorporated
	 	5300 SW 33rd Street (Whse)	 	Oklahoma City	 	OK	 	73179-7618
	Stinger Wellhead Protection,
Incorporated
	 	540 N 7th Avenue	 	Brighton	 	CO	 	80601
	Stinger Wellhead Protection,
Incorporated
	 	579 S 1070 E	 	Vernal	 	UT	 	84078

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 30

 

	 	 	 	 	 	 	 	 	 
	Full Company Name	 	Address	 	City	 	State	 	Zip
	Stinger Wellhead Protection,
Incorporated
	 	6101 Foothill Blvd	 	Rock Springs	 	WY	 	82901
	Stinger Wellhead Protection,
Incorporated
	 	RR 1 Box 73A, State Hwy 20 N	 	Volga	 	WV	 	26238
	 
	 	 	 	(Hodgesville/	 	 	 	 
	 
	 	 	 	Buckhannon)	 	 	 	 
	Well Testing, Inc.
	 	15106 Clearfield Shawville Hwy	 	Clearfield	 	PA	 	16830
	Well Testing, Inc.
	 	1700 SW Stallings Drive	 	Nacogdoches	 	TX	 	75964
	Well Testing, Inc.
	 	2105 E Line Drive	 	Searcy	 	AR	 	72143
	Well Testing, Inc.
	 	2275 Logos Court	 	Grand Junction	 	CO	 	81505
	Well Testing, Inc.
	 	2425 16th Avenue W, #107	 	Williston	 	ND	 	58801
	Well Testing, Inc.
	 	2900 W Moreland	 	Hobbs	 	NM	 	88240
	Well Testing, Inc.
	 	301 26th Street E	 	Williston	 	ND	 	58801
	Well Testing, Inc.
	 	3104 S Stockton Avenue	 	Monahans	 	TX	 	79756
	Well Testing, Inc.
	 	3222 N Main Street (Hwy 174)	 	Cleburne	 	TX	 	76033
	Well Testing, Inc.
	 	3226 N Main Street	 	Cleburne	 	TX	 	76033-5058
	Well Testing, Inc.
	 	415 W Wall Street, Suite 1600 & Suite 1510	 	Midland	 	TX	 	79701-4585
	Well Testing, Inc.
	 	435 S First Avenue	 	Paden City	 	WV	 	26159
	Well Testing, Inc.
	 	7800 W County Road 116	 	Midland	 	TX	 	79706
	Well Testing, Inc.
	 	RR 1, Box 51	 	Proctor	 	WV	 	26055

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 31

 

Annex 2 to the

Amended and Restated

U.S. Security Agreement

     SUPPLEMENT NO. __ dated as of [____________] (the “Supplement”) to the Amended and Restated U.S.
Security Agreement dated as of [______], 2010 (the “Security Agreement”), among OIL STATES
INTERNATIONAL, INC., a Delaware corporation (the “U.S. Borrower”), each subsidiary of the U.S.
Borrower listed on Schedule I thereto (each such subsidiary individually a “Subsidiary Guarantor”
and, collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors and the U.S. Borrower are
referred to collectively herein as the “Grantors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION,
(“Wells Fargo”), as collateral agent (in such capacity, the “U.S. Collateral Agent”) for the
Secured Parties (as defined herein).

     A. Reference is made to (a) the Amended and Restated Credit Agreement dated as of [______ ],
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd.
(“PTI Premium” and, together with the Canadian
Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo, as administrative agent (in such capacity, the “Administrative Agent”) and
U.S. Collateral Agent, and Royal Bank of Canada (“RBC”), as administrative agent and Canadian
Collateral Agent for the Canadian Lenders, and (b) the Security Agreement.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

     C. The Grantors have entered into the Security Agreement in order to induce the Lenders to
make Loans and the Issuing Banks to issue Letters of Credit. Section 7.15 of Security Agreement
provides that additional Domestic Subsidiaries of the U.S. Borrower may become Grantors under the
Security Agreement by execution and delivery of an instrument in the form of this Supplement. The
undersigned Subsidiary (the “New Grantor”) is executing this Supplement in accordance with the
requirements of the Credit Agreement to become a Grantor under the Security Agreement in order to
induce the Lenders to make additional Loans and the Issuing Banks to issue additional Letters of
Credit and as consideration for Loans previously made and Letters of Credit previously issued.

     Accordingly, the U.S. Collateral Agent and the New Grantor agree as follows:

     SECTION 1. In accordance with Section 7.15 of the Security Agreement, the New Grantor by its
signature below becomes a Grantor under the Security Agreement with the same force and effect as if
originally named therein as a Grantor and the New Grantor hereby (a) agrees to all the terms and
provisions of the Security Agreement applicable to it as a Grantor thereunder and (b) represents
and warrants that the representations and warranties made by it as a Grantor thereunder are true
and correct on and as of the date hereof in all material respects. In furtherance of the
foregoing, the New Grantor, as security for the payment and performance in full of the Obligations
(as defined in the Security Agreement), does hereby create and grant to

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 32

 

the U.S. Collateral Agent, its successors and assigns, for the benefit of the Secured Parties,
their successors and assigns, a security interest in and lien on all of the New Grantor’s right,
title and interest in and to the Collateral (as defined in the Security Agreement) of the New
Grantor. Each reference to a “Grantor” in the Security Agreement shall be deemed to include the
New Grantor.

     SECTION 2. The New Grantor represents and warrants to the U.S. Collateral Agent and the other
Secured Parties that this Supplement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application (regardless of whether enforcement is sought in a proceeding in equity or at
law)).

     SECTION 3. This Supplement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Supplement shall become effective when the U.S.
Collateral Agent shall have received counterparts of this Supplement that, when taken together,
bear the signatures of the New Grantor and the U.S. Collateral Agent. Delivery of an executed
signature page to this Supplement by facsimile transmission shall be as effective as delivery of a
manually signed counterpart of this Supplement.

     SECTION 4. The New Grantor hereby represents and warrants that Schedule I attached hereto is
true and correct.

     SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in
full force and effect.

     SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

     SECTION 7. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions contained herein and in the Security Agreement shall not in any way be
affected or impaired thereby (it being understood that the invalidity of a particular provision in
a particular jurisdiction shall not in and of itself affect the validity of such provision in any
other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 8. All communications and notices hereunder shall be in writing and given as provided
in Section 7.01 of the Security Agreement. All communications and notices hereunder to the New
Grantor shall be given to it at the address set forth under its signature below.

     SECTION 9. The New Grantor agrees to reimburse the U.S. Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other
charges and disbursements of counsel for the U.S. Collateral Agent.

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 33

 

     IN WITNESS WHEREOF, the New Grantor and the U.S. Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written.

	 	 	 	 	 
	 	[Name Of New Grantor],

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL

ASSOCATION, as U.S. Collateral Agent,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 34

 

SCHEDULE I

to Supplement No.___ to the

Security Agreement

LOCATION OF COLLATERAL

	 	 	 
	Description	 	Location
	 	 	 

Exhibit F-1 — Form of Amended and Restated U.S. Security Agreement

Page 35

 

EXHIBIT F-2

[Form of]

AMENDED AND RESTATED CANADIAN SECURITY AGREEMENT

     AMENDED AND RESTATED CANADIAN SECURITY AGREEMENT (as supplemented from time to time, this
“Agreement”) dated as of December 10, 2010, among PTI GROUP INC., a corporation amalgamated under
the laws of the Province of Alberta (the “Canadian Parent”), PTI PREMIUM CAMP SERVICES LTD., a
corporation amalgamated under the laws of the Province of Alberta (“PTI Premium” and, together with
the Canadian Parent, the “Canadian Borrowers”), each Subsidiary of the Canadian Borrowers listed on
Schedule I hereto (each such Subsidiary individually a “Guarantor” and collectively, the
“Subsidiary Guarantors”; the Subsidiary Guarantors and the Canadian Borrowers are referred to
collectively herein as the “Grantors”) and ROYAL BANK OF CANADA (“RBC”), as collateral agent (in
such capacity, the “Canadian Collateral Agent”) for the Secured Parties (as defined herein).

INTRODUCTION

     A. The Grantors and The Bank of Nova Scotia, in its capacity as former Canadian collateral
agent, are parties to that certain Security Agreement dated as of October 30, 2003 (as heretofore
amended, restated and otherwise modified, the “Existing Security Agreement”).

     B. Reference is made to (a) the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Canadian Borrowers, Oil States International, Inc. (the “U.S. Borrower” and, together
with the Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) and U.S. Collateral Agent, and Royal Bank of Canada, as administrative
agent for the Canadian Lenders, and as Canadian Collateral Agent for the Canadian Lenders, (b) the
Amended and Restated Canadian Subsidiary Guarantee Agreement dated as of December 10, 2010 (as
amended, supplemented or otherwise modified from time to time, the “Canadian Subsidiary Guarantee
Agreement”) among the Subsidiary Guarantors and the Canadian Collateral Agent, (c) the Amended and
Restated U.S. Borrower Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented
or otherwise modified from time to time, the “U.S. Borrower Guarantee Agreement”) between the U.S.
Borrower and the Canadian Collateral Agent and (d) the Amended and Restated PTI Holdco Sub
Guarantee Agreement dated as of December 10, 2010 (as amended, modified or supplemented from time
to time the “PTI Holdco Sub Guarantee Agreement” and, together with the Canadian Subsidiary
Guarantee Agreement and the U.S. Borrower Guarantee Agreement, the “Guarantee Agreements”) between
PTI Holdco Sub and the Canadian Collateral Agent.

     C. The Canadian Lenders have agreed to make Canadian Loans to the Canadian Borrowers, and the
Issuing Banks have agreed to issue Canadian Letters of Credit for the accounts of the Canadian
Borrowers, pursuant to, and upon the terms and subject to the conditions specified in, the Credit
Agreement. The Canadian Subsidiary Guarantors and PTI

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 1

 

Holdco Sub have agreed to guarantee, among other things, all the obligations of the Canadian
Borrowers under the Credit Agreement. The obligations of the Canadian Lenders to make Canadian
Loans and of the Issuing Banks to issue Canadian Letters of Credit are conditioned upon, among
other things, the execution and delivery by the Grantors of an agreement in the form hereof to
secure, as applicable (a) the due and punctual payment by the Canadian Borrowers of (i) the
principal of and premium, if any, and interest (including interest accruing during the pendency of
any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed
or allowable in such proceeding) on the Canadian Loans, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to
be made by the Canadian Borrowers under the Credit Agreement in respect of any Canadian Letter of
Credit, when and as due, including payments in respect of reimbursement of disbursements, interest
thereon and obligations to provide cash collateral and (iii) all other monetary obligations,
including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent,
fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in
such proceeding), of the Canadian Borrowers to the Secured Parties under the Credit Agreement and
the other Loan Documents, (b) the due and punctual performance of all covenants, agreements,
obligations and liabilities of the Canadian Borrowers under or pursuant to the Credit Agreement and
the other Loan Documents, (c) the due and punctual payment and performance of all the covenants,
agreements, obligations and liabilities of each Grantor under or pursuant to this Agreement and the
other Loan Documents, (d) the due and punctual payment and performance of all obligations of the
Canadian Borrowers under each Hedging Agreement entered into with any counterparty that was a
Canadian Lender (or an Affiliate of a Canadian Lender) at the time such Hedging Agreement was
entered into and (e) the due and punctual performance of all Banking Services Obligations provided
to the Canadian Borrowers or any Subsidiary by any Lender or any Affiliate of a Lender (all the
monetary and other obligations described in the preceding clauses (a) through (e) being referred to
collectively as the “Obligations”).

     Accordingly, the Grantors and the Canadian Collateral Agent, on behalf of itself and each
Secured Party (and each of their respective successors or assigns), hereby (a) agree that the
Existing Security Agreement is amended and restated in its entirety by this Security Agreement and
(b) further agree as follows:

ARTICLE I

Definitions

     SECTION 1.01. Definition of Terms Used Herein. Unless the context otherwise requires, all
capitalized terms used but not defined herein shall have the meanings set forth in the Credit
Agreement. Except as otherwise specified herein, all references to the “PPSA” shall mean the
Personal Property Security Act (Alberta).

     SECTION 1.02. Definition of Certain Terms Used Herein. As used herein, the following terms
shall have the following meanings:

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 2

 

     “Account Debtor” shall mean any person who is or who may become obligated to any Grantor
under, with respect to or on account of an Account.

     “Accounts” shall mean any and all right, title and interest of any Grantor to payment for
goods and services sold or leased, including any such right evidenced by Chattel Paper, whether due
or to become due, whether or not it has been earned by performance, and whether now or hereafter
acquired or arising in the future, including accounts receivable from Affiliates of the Grantors.

     “Accounts Receivable” shall mean all Accounts and all right, title and interest in any
returned goods, together with all rights, titles, securities and guarantees with respect thereto,
including any rights to stoppage in transit, replevin, reclamation and resales, and all related
security interests, liens and pledges, whether voluntary or involuntary, in each case whether now
existing or owned or hereafter arising or acquired.

     “Chattel Paper” shall mean (a) a writing or writings which evidence both a monetary obligation
and a security interest in or a lease of specific Equipment and (b) all other property now or
hereafter constituting “chattel paper” under the PPSA or its equivalent in other jurisdictions, in
each case that are now or hereafter owned by any Grantor.

     “Collateral” shall mean all (a) Accounts Receivable, (b) Documents, (c) Documents of Title,
(d) Equipment, (e) General Intangibles, (f) Instruments, (g) Inventory, (h) Investment Property,
(i) Money and (j) Proceeds.

     “Commodity Account” shall mean an account maintained by a Commodity Intermediary in which a
Commodity Contract is carried out for a Commodity Customer.

     “Commodity Contract” shall mean a commodity futures contract, an option on a commodity futures
contract, a commodity option or any other contract that, in each case, is (a) traded on or subject
to the rules of a board of trade that has been designated as a contract market for such a contract
pursuant to the federal commodities laws or (b) traded on a foreign commodity board of trade,
exchange or market, and is carried on the books of a Commodity Intermediary for a Commodity
Customer.

     “Commodity Customer” shall mean a person for whom a Commodity Intermediary carries a Commodity
Contract on its books.

     “Commodity Intermediary” shall mean (a) a person who is registered as a futures commission
merchant or registrant under any Canadian commodities laws or (b) a person who in the ordinary
course of its business provides clearance or settlement services for a board of trade that has been
designated as a contract market pursuant to federal commodities laws.

     “Control” shall mean “control” within the meaning of such term in the Personal Property
Security Act (Alberta) (the “PPSA”).

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 3

 

     “Copyright License” shall mean any written agreement, now or hereafter in effect, granting any
right to any third party under any Copyright now or hereafter owned by any Grantor or which such
Grantor otherwise has the right to license, or granting any right to such Grantor under any
Copyright now or hereafter owned by any third party, and all rights of such Grantor under any such
agreement.

     “Copyrights” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all copyright rights in any work subject to the copyright laws of Canada or any other country,
whether as author, assignee, transferee or otherwise, and (b) all registrations and applications
for registration of any such copyright in Canada or any other country.

     “Credit Agreement” shall have the meaning assigned to such term in the preliminary statement
of this Agreement.

     “Documents” shall mean all instruments, files, records, ledger sheets and documents covering
or relating to any of the Collateral.

     “Documents of Title” shall mean all present and future documents of title of any Grantor,
whether negotiable or otherwise including all warehouse receipts and bills of lading.

     “Equipment” shall mean all equipment, furniture and furnishings, and all tangible personal
property similar to any of the foregoing, including tools, parts and supplies of every kind and
description, all vehicles of every kind or description and all improvements, accessions or
appurtenances thereto, that are now or hereafter owned by any Grantor.

     “General Intangibles” shall mean all choses in action and causes of action and all other
assignable intangible personal property, business and undertaking of any Grantor of every kind and
nature (other than Accounts Receivable) now owned or hereafter acquired by any Grantor, including
rights and interests in partnerships, limited partnerships, limited liability companies and other
entities (in each case to the extent not constituting Securities), corporate or other business
records, indemnification claims, contract rights (including rights under leases, whether entered
into as lessor or lessee, Hedging Agreements and other agreements), Intellectual Property,
goodwill, registrations, franchises, tax refund claims and any letter of credit, guarantee, claim,
security interest or other security held by or granted to any Grantor to secure payment by an
Account Debtor of any of the Accounts Receivable.

     “Instruments” shall mean all present and future bills, notes and cheques (as such are defined
pursuant to the Bills of Exchange Act (Canada) of any Grantor, and all other writings that evidence
a right to the payment of money and are of a type that in the ordinary course of business are
transferred by delivery without any necessary endorsement or assignment.

     “Intellectual Property” shall mean all intellectual and similar property of any Grantor of
every kind and nature now owned or hereafter acquired by any Grantor, including inventions,
designs, Patents, Copyrights, Licenses, Trademarks, trade secrets, confidential or proprietary
technical and business information, know-how, show-how or other data or information, software and
databases and all embodiments or fixations thereof and related documentation, registrations

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and franchises, and all additions, improvements and accessions to, and books and records describing
or used in connection with, any of the foregoing.

     “Inventory” shall mean all goods of any Grantor, whether now owned or hereafter acquired, held
for sale or lease, or furnished or to be furnished by any Grantor under contracts of service, or
consumed in any Grantor’s business, including raw materials, intermediates, work in process,
packaging materials, finished goods, semi-finished inventory, scrap inventory, manufacturing
supplies and spare parts, and all such goods that have been returned to or repossessed by or on
behalf of any Grantor.

     “Investment Property” shall mean all Securities (whether certificated or uncertificated),
Securities Accounts, Commodity Contracts and Commodity Accounts of any Grantor, whether now owned
or hereafter acquired by any Grantor.

     “License” shall mean any Patent License, Trademark License, Copyright License or other similar
license or sublicense to which any Grantor is a party (other than those license agreements in
existence on the date hereof and those license agreements entered into after the date hereof, which
by their terms prohibit assignment or a grant of a security interest by such Grantor as licensee
thereunder).

     “Money” means all present and future money of any Grantor, whether authorized or adopted by
the Parliament of Canada as part of its currency or any foreign government as part of its currency.

     “Obligations” shall have the meaning assigned to such term in the preliminary statement of
this Agreement.

     “Patent License” shall mean any written agreement, now or hereafter in effect, granting to any
third party any right to make, use or sell any invention on which a Patent, now or hereafter owned
by any Grantor or which any Grantor otherwise has the right to license, is in existence, or
granting to any Grantor any right to make, use or sell any invention on which a Patent, now or
hereafter owned by any third party, is in existence, and all rights of any Grantor under any such
agreement.

     “Patents” shall mean all of the following now owned or hereafter acquired by any Grantor: (a)
all letters patent of Canada or any other country, all registrations and recordings thereof, and
all applications for letters patent of Canada or any other country, and (b) all reissues,
continuations, divisions, continuations-in-part, renewals or extensions thereof, and the inventions
disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed
or claimed therein.

     “Perfection Certificate” shall mean a certificate substantially in the form of Annex 1 hereto,
completed and supplemented with the schedules and attachments contemplated thereby, and duly
executed by a Responsible Officer of the Canadian Parent.

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     “Proceeds” shall mean any consideration received directly or indirectly from the sale,
exchange, license, lease or other disposition of any asset or property that constitutes Collateral,
any value received as a consequence of the possession of any Collateral and any payment received
from any insurer or other person or entity as a result of the destruction, loss, theft, damage or
other involuntary conversion of whatever nature of any asset or property which constitutes
Collateral, and shall include (b) any and all other amounts from time to time paid or payable under
or in connection with any of the Collateral.

     “Secured Parties” shall mean (a) the Canadian Lenders, (b) the Canadian Administrative Agent,
(c) the Canadian Collateral Agent, (d) the Issuing Banks which issue Canadian Letters of Credit,
(e) each counterparty to a Hedging Agreement entered into with a Canadian Borrower if such
counterparty was a Canadian Lender (or an Affiliate of a Canadian Lender) at the time the Hedging
Agreement was entered into, (f) the Banking Services Providers, (g) the beneficiaries of each
indemnification obligation undertaken by any Grantor under any Loan Document and (h) the successors
and assigns of each of the foregoing.

     “Securities” shall mean any obligation of an issuer or any shares, participations or other
interests in an issuer or in property or an enterprise of an issuer which (a) are represented by a
certificate representing a security in bearer or registered form, or the transfer of which may be
registered upon books maintained for that purpose by or on behalf of the issuer, (b) are one of a
class or series or by its terms is divisible into a class or series of shares, participations,
interests or obligations, (c) are, or are of a type, dealt with or traded on securities exchanges
or securities markets, or (d) are a security not evidenced by a security certificate, the issue and
transfer of which is registered or recorded in records maintained for that purpose by or on behalf
of the issuer, and all substitutions therefore and dividends and income derived therefrom.

     “Securities Account” shall mean an account to which a Securities are or may be credited in
accordance with an agreement under which the person maintaining the account undertakes to treat the
person for whom the account is maintained as entitled to exercise rights that comprise the
Securities.

     “Securities Intermediary” shall mean (a) a clearing corporation or (b) a person, including a
bank or broker, that in the ordinary course of its business maintains Securities Accounts for
others and is acting in that capacity.

     “Security Interest” shall have the meaning assigned to such term in Section 2.01.

     “Trademark License” shall mean any written agreement, now or hereafter in effect, granting to
any third party any right to use any Trademark now or hereafter owned by any Grantor or which any
Grantor otherwise has the right to license, or granting to any Grantor any right to use any
Trademark now or hereafter owned by any third party, and all rights of any Grantor under any such
agreement.

     “Trademarks” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all trademarks, service marks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, trade dress, logos, other source or

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

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business identifiers, designs and general intangibles of like nature, now existing or hereafter
adopted or acquired, all registrations and recordings thereof, and all registration and recording
applications filed in connection therewith, and all extensions or renewals thereof, (b) all
goodwill associated therewith or symbolized thereby and (c) all other assets, rights and interests
that uniquely reflect or embody such goodwill.

     SECTION 1.03. Rules of Interpretation. The rules of interpretation specified in Section 1.02
of the Credit Agreement shall be applicable to this Agreement.

ARTICLE II

Security Interest

     SECTION 2.01. Security Interest. As security for the payment or performance, as the case may
be, in full of the Obligations applicable to each Grantor, each Grantor hereby bargains, sells,
conveys, assigns, sets over, mortgages, pledges, hypothecates and transfers to the Canadian
Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, and
hereby grants to the Canadian Collateral Agent, its successors and assigns, for the ratable benefit
of the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in,
to and under the Collateral (the “Security Interest”).

     SECTION 2.02. No Assumption of Liability. The Security Interest is granted as security only
and shall not subject the Canadian Collateral Agent or any other Secured Party to, or in any way
alter or modify, any obligation or liability of any Grantor with respect to or arising out of the
Collateral.

ARTICLE III

Representations and Warranties

     The Grantors jointly and severally represent and warrant to the Canadian Collateral Agent and
the Secured Parties that:

     SECTION 3.01. Perfection Certificate. The Perfection Certificate has been duly prepared,
completed and executed and the information set forth therein is correct and complete in all
material respects.

     SECTION 3.02. Validity of Security Interest. The Security Interest constitutes (a) a legal
and valid security interest in all the Collateral securing the payment and performance of the
Obligations applicable to such Grantor and (b) a perfected security interest in all Collateral in
which a security interest may be perfected by filing, recording or registering a financing
statement or analogous document in the applicable province or territory in Canada pursuant to
applicable personal property security legislation. The Security Interest is and shall be prior to
any other Lien on any of the Collateral, other than Liens expressly permitted to be prior to the
Security Interest pursuant to Section 6.02 of the Credit Agreement.

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

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     SECTION 3.03. Absence of Other Liens. The Collateral is owned by the Grantors free and clear
of any Lien, except for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement
or Liens which were granted pursuant to the Existing Credit Agreements and which will be discharged
on or before the Effective Date.

     SECTION 3.04. Control. No Grantor has granted Control over any Investment Property to any
person other than the Canadian Collateral Agent.

ARTICLE IV

Covenants

     SECTION 4.01. Protection of Security. Each Grantor shall, at its own cost and expense, take
any and all actions necessary to defend title to the Collateral against all persons and to defend
the Security Interest of the Canadian Collateral Agent in the Collateral and the priority thereof
against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement.

     SECTION 4.02. Further Assurances. Each Grantor agrees, at its own expense, to execute,
acknowledge, deliver and cause to be duly filed all such further instruments and documents and take
all such actions as the Canadian Collateral Agent may from time to time reasonably request to
better assure, preserve, protect and perfect the Security Interest and the rights and remedies
created hereby, including the payment of any fees and taxes required in connection with the
execution and delivery of this Agreement, the granting of the Security Interest and the filing of
any financing statements or other documents in connection herewith or therewith. If an amount in
excess of Cdn. $1,000,000 payable under or in connection with any of the Collateral shall be or
become evidenced by any promissory note or other instrument, such note or instrument shall be
pledged and delivered to the Canadian Collateral Agent within 10 days, duly endorsed in a manner
satisfactory to the Canadian Collateral Agent.

     SECTION 4.03. Continuing Obligations of the Grantors. Each Grantor shall remain liable to
observe and perform all the conditions and obligations to be observed and performed by it under
each contract, agreement or instrument relating to the Collateral, all in accordance with the terms
and conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold
harmless the Canadian Collateral Agent and the Secured Parties from and against any and all
liability for such performance.

     SECTION 4.04. Attachment. The parties acknowledge that value has been given; each Grantor
has rights in the Collateral; and the parties have not agreed to postpone the time for attachment
of the Security Interest. In respect of Collateral in which any Grantor obtains an interest after
the execution and delivery of this Agreement, the Security Interest shall attach thereto
immediately upon such Grantor obtaining such rights.

     SECTION 4.05. Exception re Leasehold Interests and Contractual Rights. The last day of the
term of any lease, sublease or agreement therefor is specifically excepted from the Security
Interest, but the applicable Grantor agrees to stand possessed of such last day in trust for

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any person acquiring such interest of such Grantor. To the extent that the creation of the
Security Interest would constitute a breach or cause the acceleration of any agreement, right,
licence or permit to which any Grantor is a party, the Security Interest shall not attach thereto
but such Grantor shall hold its interest therein in trust for the Canadian Collateral Agent, and
shall assign such agreement, right, license or permit to the Canadian Collateral Agent forthwith
upon obtaining the consent of the other party thereto.

     SECTION 4.06. No Changes. No Grantor shall change its name or its chief executive office or
the location of the office where it keeps its records regarding its Accounts Receivable without
giving 15 days prior written notice to the Canadian Collateral Agent.

     SECTION 4.07. Control. No Grantor shall grant Control over any Investment Property forming
part of the Collateral to any person other than the Canadian Collateral Agent.

ARTICLE V

Power of Attorney

     SECTION 5.01. Each Grantor irrevocably makes, constitutes and appoints the Canadian
Collateral Agent (and all officers, employees or agents designated by the Canadian Collateral
Agent) as such Grantor’s true and lawful agent and attorney-in-fact, and in such capacity the
Canadian Collateral Agent shall have the right, with power of substitution for each Grantor and in
each Grantor’s name or otherwise, for the use and benefit of the Canadian Collateral Agent and the
Secured Parties, upon the occurrence and during the continuance of an Event of Default (a) to
receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money
orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand,
collect, receive payment of, give receipt for and give discharges and releases of all or any of the
Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of
the Collateral; (d) to send verifications of Accounts Receivable to any Account Debtor; (e) to
commence and prosecute any and all suits, actions or proceedings at law or in equity in any court
of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to
enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or
defend any actions, suits or proceedings relating to all or any of the Collateral; (g) to notify,
or to require any Grantor to notify, Account Debtors to make payment directly to the Canadian
Collateral Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect
to or otherwise deal with all or any of the Collateral, and to do all other acts and things
necessary to carry out the purposes of this Agreement, as fully and completely as though the
Canadian Collateral Agent were the absolute owner of the Collateral for all purposes; provided,
however, that nothing herein contained shall be construed as requiring or obligating the Canadian
Collateral Agent or any Secured Party to make any commitment or to make any inquiry as to the
nature or sufficiency of any payment received by the Canadian Collateral Agent or any Secured
Party, or to present or file any claim or notice, or to take any action with respect to the
Collateral or any part thereof or the moneys due or to become due in respect thereof or any
property covered thereby, and no action taken or omitted to be taken by the Canadian Collateral
Agent or any Secured Party with respect to the Collateral or any part thereof shall give rise to
any defense, counterclaim or offset in favor of any Grantor or to any claim or action against the
Canadian

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Collateral Agent or any Secured Party. It is understood and agreed that the appointment of the
Canadian Collateral Agent as the agent and attorney-in-fact of the Grantors for the purposes set
forth above is coupled with an interest and is irrevocable. The provisions of this Section shall
in no event relieve any Grantor of any of its obligations hereunder or under any other Loan
Document with respect to the Collateral or any part thereof or impose any obligation on the
Canadian Collateral Agent or any Secured Party to proceed in any particular manner with respect to
the Collateral or any part thereof, or in any way limit the exercise by the Canadian Collateral
Agent or any Secured Party of any other or further right which it may have on the date of this
Agreement or hereafter, whether hereunder, under any other Loan Document, by law or otherwise. The
Canadian Collateral Agent and the other Secured Parties shall be accountable only for amounts
actually received as a result of the exercise of the powers granted to them herein, and neither
they nor their officers, directors, employees or agents shall be responsible to any Grantor for any
act or failure to act hereunder, except for their own gross negligence or wilful misconduct.

ARTICLE VI

Remedies

     SECTION 6.01. Remedies upon Default. Upon the occurrence and during the continuance of an
Event of Default, each Grantor agrees to deliver each item of Collateral to the Canadian Collateral
Agent on demand, and it is agreed that the Canadian Collateral Agent shall have the right to take
any of or all the following actions at the same or different times: (a) with respect to any
Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become
an assignment, transfer and conveyance of any of or all such Collateral by the applicable Grantors
to the Canadian Collateral Agent, or to license or sublicense, whether general, special or
otherwise, and whether on an exclusive or non-exclusive basis, any such Collateral throughout the
world on such terms and conditions and in such manner as the Canadian Collateral Agent shall
determine (other than in violation of any then-existing licensing arrangements to the extent that
waivers cannot be obtained), and (b) to the extent permitted by applicable laws, with or without
legal process and with or without prior notice or demand for performance, to take possession of the
Collateral and without liability for trespass to enter any premises where the Collateral may be
located for the purpose of taking possession of or removing the Collateral and, generally, to
exercise any and all rights afforded to a secured party under the PPSA or other applicable law.
Without limiting the generality of the foregoing, each Grantor agrees that the Canadian Collateral
Agent shall have the right, subject to the mandatory requirements of applicable law, to sell or
otherwise dispose of all or any part of the Collateral, at public or private sale or at any
broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the
Canadian Collateral Agent shall deem appropriate. The Canadian Collateral Agent shall be
authorized at any such sale (if it deems it advisable to do so) to restrict the prospective bidders
or purchasers to persons who will represent and agree that they are purchasing the Collateral for
their own account for investment and not with a view to the distribution or sale thereof, and upon
consummation of any such sale the Canadian Collateral Agent shall have the right to assign,
transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such
purchaser at any such sale shall hold the property sold absolutely, free from any claim or right on
the part of any Grantor, and each Grantor hereby

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waives (to the extent permitted by law) all rights of redemption, stay and appraisal which such
Grantor now has or may at any time in the future have under any rule of law or statute now existing
or hereafter enacted.

     The Canadian Collateral Agent shall give the Grantors such prior written notice as may be
required under the PPSA or other applicable law of the Canadian Collateral Agent’s intention to
make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and
place for such sale and, in the case of a sale at a broker’s board or on a securities exchange,
shall state the board or exchange at which such sale is to be made and the day on which the
Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such
public sale shall be held at such time or times within ordinary business hours and at such place or
places as the Canadian Collateral Agent may fix and state in the notice (if any) of such sale. At
any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety
or in separate parcels, as the Canadian Collateral Agent may (in its sole and absolute discretion)
determine. The Canadian Collateral Agent shall not be obligated to make any sale of any Collateral
if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral
shall have been given. The Canadian Collateral Agent may, without notice or publication, adjourn
any public or private sale or cause the same to be adjourned from time to time by announcement at
the time and place fixed for sale, and such sale may, without further notice, be made at the time
and place to which the same was so adjourned. In case any sale of all or any part of the
Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the
Canadian Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but
the Canadian Collateral Agent shall not incur any liability in case any such purchaser or
purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such
failure, such Collateral may be sold again upon like notice. At any public (or, to the extent
permitted by law, private) sale made pursuant to this Section, any Secured Party may bid for or
purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or
appraisal on the part of any Grantor (all said rights being also hereby waived and released to the
extent permitted by law), the Collateral or any part thereof offered for sale and may make payment
on account thereof by using any claim then due and payable to such Secured Party from any Grantor
as a credit against the purchase price, and such Secured Party may, upon compliance with the terms
of sale, hold, retain and dispose of such property without further accountability to any Grantor
therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion
thereof shall be treated as a sale thereof; the Canadian Collateral Agent shall be free to carry
out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the
Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Canadian
Collateral Agent shall have entered into such an agreement, all Events of Default shall have been
remedied and the Obligations paid in full. As an alternative to exercising the power of sale
herein conferred upon it, the Canadian Collateral Agent may proceed by a suit or suits at law or in
equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a
judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding
by a court-appointed receiver.

Each Grantor agrees that the Canadian Collateral Agent shall have the right, upon the occurrence
and during the continuance of an Event of Default, to exercise the following remedies in addition

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to any other remedies available at law or equity or contained in this Agreement or any other Loan
Document, all of which remedies shall be independent and cumulative:

	 	(a)	 	occupy and use any premises occupied by any Grantor and use all or any of such
premises and the Equipment and other Collateral located thereon;

	 	(b)	 	take such steps and expend such monies as it considers necessary or desirable
in its sole discretion to maintain, preserve and protect the Collateral, including
payments on account of other security interests affecting the Collateral; provided that
the Canadian Collateral Agent shall have no obligation to take any such actions or make
any such expenditures; but any such amounts paid by the Canadian Collateral Agent shall
be added to the Obligations and shall be secured hereby;

	 	(c)	 	collect any rents, income, and profits received in connection with the business
of any Grantor or the Collateral, without carrying on such business;

	 	(d)	 	carry on the business of any Grantor or any portion thereof;

	 	(e)	 	borrow money for the maintenance, preservation or protection of the Collateral
or for the carrying on of the business of any Grantor, and charge and grant further
security interests in the Collateral in priority to the Security Interest, as security
for the money so borrowed;

	 	(f)	 	appoint by instrument in writing a receiver, or a receiver and manager (each of
which is herein called a “Receiver”) in respect of any Grantor and/or the Collateral or
any portion thereof;

	 	(g)	 	apply to any court of competent jurisdiction for the appointment of a receiver
or a receiver and manager in respect of any Grantor and/or the Collateral or any
portion thereof; and

	 	(h)	 	file proofs of claim and other documents in order to have the claims of the
Secured Parties lodged in any bankruptcy, winding-up, or other judicial proceeding
relating to any Grantor or the Collateral.

Any Receiver appointed by the Canadian Collateral Agent may be any person or persons, and the
Canadian Collateral Agent may remove any Receiver so appointed and appoint another or others
instead. The Receiver may exercise all powers of the Canadian Collateral Agent as provided in this
Agreement or any other Loan Document. The Receiver shall act as agent for the Canadian Collateral
Agent for the purposes of taking possession of the Collateral, and (except as provided below) as
agent for the applicable Grantor for all other purposes, including without limitation the
occupation of any premises of such Guarantor and in carrying on such Grantor’s business. For the
purposes of realizing upon the Security Interest, the Receiver may sell, lease, or otherwise
dispose of Collateral as agent for any Grantor or as agent for the Canadian Collateral Agent as it
may determine in its discretion. Each Grantor agrees to ratify and confirm all actions of the

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Receiver acting as agent for such Grantor, and to release and indemnify the Receiver in respect of
all such actions.

     SECTION 6.02. Application of Proceeds. The Canadian Collateral Agent shall apply the
proceeds of any collection or sale of the Collateral, as well as any Collateral consisting of cash,
in accordance with Section 7.05 of the Credit Agreement. The Canadian Collateral Agent shall have
absolute discretion as to the time of application of any such proceeds, moneys or balances in
accordance with this Agreement and the Credit Agreement. Upon any sale of the Collateral by the
Canadian Collateral Agent (including pursuant to a power of sale granted by statute or under a
judicial proceeding), the receipt of the Canadian Collateral Agent or of the officer making the
sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and
such purchaser or purchasers shall not be obligated to see to the application of any part of the
purchase money paid over to the Canadian Collateral Agent or such officer or be answerable in any
way for the misapplication thereof.

     SECTION 6.03. Grant of License to Use Intellectual Property. For the purpose of enabling the
Canadian Collateral Agent to exercise rights and remedies under this Article at such time as the
Canadian Collateral Agent shall be lawfully entitled to exercise such rights and remedies, each
Grantor hereby grants to the Canadian Collateral Agent an irrevocable, non-exclusive license
(exercisable without payment of royalty or other compensation to the Grantors) to use, license or
sub-license any of the Collateral consisting of Intellectual Property now owned or hereafter
acquired by such Grantor, and wherever the same may be located, and including in such license
reasonable access to all media in which any of the licensed items may be recorded or stored and to
all computer software and programs used for the compilation or printout thereof. The use of such
license by the Canadian Collateral Agent shall be exercised, at the option of the Canadian
Collateral Agent, upon the occurrence and during the continuation of an Event of Default; provided
that any license, sub-license or other transaction entered into by the Canadian Collateral Agent in
accordance herewith shall be binding upon the Grantors notwithstanding any subsequent cure of an
Event of Default.

ARTICLE VII

Miscellaneous

     SECTION 7.01. Notices. All communications and notices hereunder shall (except as otherwise
expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit
Agreement. All communications and notices hereunder to any Guarantor shall be given to it at its
address or telecopy number set forth on Schedule I, with a copy to the Canadian Borrowers.

     SECTION 7.02. Security Interest Absolute. All rights of the Canadian Collateral Agent
hereunder, the Security Interest and all obligations of the Grantors hereunder shall be absolute
and unconditional irrespective of (a) any lack of validity or enforceability of the Credit
Agreement, any other Loan Document, any agreement with respect to any of the Obligations or any
other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner
or place of payment of, or in any other term of, all or any of the Obligations, or any other

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amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan
Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any
Lien on other collateral, or any release or amendment or waiver of or consent under or departure
from any guarantee, securing or guaranteeing all or any of the Obligations, or (d) any other
circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor
in respect of the Obligations or this Agreement.

     SECTION 7.03. Survival of Agreement. All covenants, agreements, representations and
warranties made by any Grantor herein and in the certificates or other instruments prepared or
delivered in connection with or pursuant to this Agreement shall be considered to have been relied
upon by the Secured Parties and shall survive the making by the Canadian Lenders of the Canadian
Loans, and the execution and delivery to the Canadian Lenders of any notes evidencing such Canadian
Loans, regardless of any investigation made by the Canadian Lenders or on their behalf, and shall
continue in full force and effect until this Agreement shall terminate.

     SECTION 7.04. Binding Effect; Several Agreement. This Agreement shall become effective as to
any Grantor when a counterpart hereof executed on behalf of such Grantor shall have been delivered
to the Canadian Collateral Agent and a counterpart hereof shall have been executed on behalf of the
Canadian Collateral Agent, and thereafter shall be binding upon such Grantor and the Canadian
Collateral Agent and their respective successors and assigns, and shall inure to the benefit of
such Grantor, the Canadian Collateral Agent and the other Secured Parties and their respective
successors and assigns, except that no Grantor shall have the right to assign or transfer its
rights or obligations hereunder or any interest herein or in the Collateral (and any such
assignment or transfer shall be void) except as expressly contemplated by this Agreement, the
Credit Agreement or the other Loan Documents. This Agreement shall be construed as a separate
agreement with respect to each Grantor and may be amended, modified, supplemented, waived or
released with respect to any Grantor without the approval of any other Grantor and without
affecting the obligations of any other Grantor hereunder.

     SECTION 7.05. Successors and Assigns. Whenever in this Agreement any of the parties hereto
is referred to, such reference shall be deemed to include the successors and assigns of such party;
and all covenants, promises and agreements by or on behalf of any Grantor or the Canadian
Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their
respective successors and assigns.

     SECTION 7.06. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE PROVINCE OF ALBERTA, CANADA.

     SECTION 7.07. Waivers; Amendment. (a) No failure or delay of the Canadian Collateral Agent
in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single
or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Canadian Collateral Agent hereunder and
of the Canadian Collateral Agent and the other Secured Parties under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 14

 

that they would otherwise have. No waiver of any provisions of this Agreement or any other Loan
Document or consent to any departure by any Grantor therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) below, 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 Grantor in any case shall entitle such Grantor or any other Grantor to any other or
further notice or demand in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Canadian Collateral
Agent and the Grantor or Grantors with respect to which such waiver, amendment or modification is
to apply, subject to any consent required in accordance with Section 9.08 of the Credit Agreement.

     SECTION 7.08. [Intentionally Omitted]

     SECTION 7.09. Severability. In the event any one or more of the provisions contained in this
Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions contained herein shall not in any way be affected or
impaired thereby (it being understood that the invalidity of a particular provision in a particular
jurisdiction shall not in and of itself affect the validity of such provision in any other
jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 7.10. Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall constitute an original but all of which when taken together shall constitute but one
contract and shall become effective as provided in Section 7.04. Delivery of an executed signature
page to this Agreement by facsimile transmission shall be effective as delivery of a manually
executed counterpart hereof.

     SECTION 7.11. Headings. Article and Section headings used herein are for the purpose of
reference only, are not part of this Agreement and are not to affect the construction of, or to be
taken into consideration in interpreting, this Agreement.

     SECTION 7.12. Jurisdiction; Consent to Service of Process. (a) Each Grantor hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the courts of the Provinces of Ontario and Alberta, Canada, in any action or
proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement shall affect any right that the Canadian
Collateral Agent, the Canadian Administrative Agent, the Issuing Banks which issue Canadian Letters
of Credit or any Canadian Lender may otherwise have to bring any action or proceeding relating to
this Agreement or the other Loan Documents against any Grantor or its properties in the courts of
any jurisdiction.

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 15

 

     (b) Each Grantor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in the courts of the Provinces of Ontario and Alberta, Canada. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 7.01. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 7.13. Termination. This Agreement and the Security Interest shall terminate when all
the Obligations have been indefeasibly paid in full, the Canadian Lenders have no further
commitment to lend, the Canadian L/C Exposure has been reduced to zero and the Issuing Banks have
no further commitment to issue Canadian Letters of Credit under the Credit Agreement, at which time
the Canadian Collateral Agent shall execute and deliver to the Grantors, at the Grantors’ expense,
all PPSA financing change statements, discharges and similar documents which the Grantors shall
reasonably request to evidence such termination. Any execution and delivery of discharges or
documents pursuant to this Section 7.14 shall be without recourse to or warranty by the Canadian
Collateral Agent. A Grantor (other than the Canadian Borrower) shall automatically be released
from its obligations hereunder and the Security Interest in the Collateral of such Grantor shall be
automatically released in the event that all the issued and outstanding shares of such Grantor
shall be sold, transferred or otherwise disposed of to a person that is not a Subsidiary of the
Canadian Borrowers in accordance with the terms of the Credit Agreement; provided that the Required
Lenders shall have consented to such sale, transfer or other disposition (to the extent required by
the Credit Agreement) and the terms of such consent did not provide otherwise.

     SECTION 7.14. Additional Grantors. Pursuant to Section 5.09 of the Credit Agreement, each
Subsidiary that is a Material Subsidiary of the Canadian Parent that was not a Material Subsidiary
on the date of the Credit Agreement is required to enter into this Agreement as a Subsidiary
Grantor. Upon execution and delivery after the date hereof by the Canadian Collateral Agent and
such Canadian Subsidiary of an instrument in the form of Annex 2 hereto, such Canadian Subsidiary
shall become a Grantor hereunder with the same force and effect as if originally named as a Grantor
herein. The execution and delivery of any instrument adding an additional Grantor as a party to
this Agreement shall not require the consent of any other Grantor hereunder. The rights and
obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the
addition of any new Grantor as a party to this Agreement.

     SECTION 7.15. Collateral. Collateral shall not include any property or assets the granting of
a Lien on, or a security interest in, which would result in adverse tax consequences to the U.S.
Borrower or any Subsidiary including, without limitation, (1) that certain Forward Subscription
Agreement (Principal), dated on or about the Effective Date, between PTI Premium, as issuer, and
PTI Mars Holdco 1, LLC, as subscriber, (2) that certain Forward Subscription Agreement (Interest),
dated on or about the Effective Date, between PTI Premium, as issuer, and PTI Mars Holdco 1, LLC,
as subscriber, (3) that certain Assignment of Forward

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 16

 

Subscription Agreement (Principal), dated on or about the Effective Date, between PTI Premium, as
assignor, and the U.S. Borrower, as assignee, and (4) that certain Loan Agreement, dated on or
about the Effective Date, between the U.S. Borrower, as lender, and PTI Premium, as borrower, and
any rights under or interests in any of the foregoing (including, without limitation, any “assigned
rights” as defined in the agreement listed in clause (3) above).

     SECTION 7.16. Fraudulent Conveyance. Notwithstanding anything contained herein to the
contrary, it is the intention of each Grantor, the Canadian Collateral Agent and the other Secured
Parties that the amount of the Obligation secured by each Grantor’s interests in any of its real or
personal property shall be in, but not in excess of, the maximum amount permitted by fraudulent
conveyance, fraudulent transfer and other similar law, rule or regulation of any Governmental
Authority or any Canadian authority applicable to such Grantor. Accordingly, notwithstanding
anything to the contrary contained in this Agreement in any other agreement or instrument executed
in connection with the payment of any of the Obligations, the amount of the Obligations secured by
each Grantor’s interests in any of its real or personal property pursuant to this Agreement shall
be limited to an aggregate amount equal to the largest amount that would not render such Grantor’s
obligations hereunder or the liens and security interest granted to the Canadian Collateral Agent
hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provision of any other applicable Insolvency Law or other law, rule or regulation of any
Governmental Authority or any Canadian authority.

     SECTION 7.17. Amendment and Restatement. The Grantors and Royal Bank of Canada have agreed
that this Agreement is an amendment and restatement of the Existing Security Agreement in its
entirety and the terms and provisions hereof supersede the terms and provisions thereof, and this
Agreement is not a new or substitute agreement or novation of the Existing Security Agreement. All
the rights, titles, liens, security interests, and assignments securing the Obligations (as defined
in the Existing Security Agreement) shall secure the Obligations, insofar and only insofar as the
same cover the Collateral, and all liens, security interests, and assignments against the
Collateral securing the Obligations (as defined in the Existing Security Agreement) are hereby
renewed, extended, and modified to secure the Obligations.

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

[SIGNATURE PAGES FOLLOW]

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 17

 

	 	 	 	 	 
	 	PTI GROUP INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PTI PREMIUM CAMP SERVICES LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[EACH OF THE GUARANTORS LISTED ON SCHEDULE I HERETO]

 	 
	 	by:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Authorized Officer 	 
	 
	 	ROYAL BANK OF CANADA, as

Canadian Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 18

 

SCHEDULE I

GUARANTORS

Crown Camp Services Ltd.

PTI Camp Installations Ltd.

PTI International Inc.

PTI International Ltd.

PTI Noble Structures, Inc.

PTI Travco Modular Structures Ltd.

Stinger Wellhead Protection (Canada) Inc.

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 19

 

Annex 1 to the

Amended and Restated

Canadian Security Agreement

[Form of]

PERFECTION CERTIFICATE

     Reference is made to (a) the Amended and Restated Credit Agreement dated as of December
10, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Oil States International, Inc. (the “U.S. Borrower”), PTI Group Inc. (the
“Canadian Parent”), PTI Premium Camp Services Ltd. (“PTI Premium” and, together with the Canadian
Parent, the “Canadian Borrowers” and, together with the U.S. Borrower, the “Borrowers”), the
lenders from time to time party thereto (the “Lenders”), Wells Fargo Bank, National Association, as
administrative agent (in such capacity, the “Administrative Agent”) and collateral agent (in such
capacity, the “U.S. Collateral Agent”) for the Lenders, and Royal Bank of Canada (“RBC”), as
administrative agent and collateral agent for the Canadian Lenders (in such capacity, the “Canadian
Collateral Agent”), and (b) the Amended and Restated Canadian Security Agreement dated as of
December 10, 2010, (as amended, supplemented or otherwise modified from time to time, the “Canadian
Security Agreement”) among the Canadian Borrower, the Subsidiary Guarantors party thereto and the
Canadian Collateral Agent. Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Credit Agreement or the Canadian Security Agreement, as
applicable.

     The undersigned, the Chief Financial Officer of the Canadian Borrowers, hereby certifies to
the Canadian Collateral Agent and each other Secured Party as follows:

     1. Names.

     (a) Set forth in Schedule 1(A) is the exact corporate name of each Grantor, as such name
appears in its respective certificate of incorporation or amalgamation, along with any respective
corporate access numbers.

     (b) Set forth in Schedule 1(B) is each other corporate name each Grantor has had in the past
five years, together with the date of the relevant change.

     (c) Set forth in Schedule 1(C) is a list of all trade names used by each Grantor or any of
its divisions or other business units in connection with the conduct of its business or the
ownership of its properties at any time during the past five years.

     2. Current Locations.

     (a) Set forth in Schedule 2(A) opposite the name of each Grantor are all locations where such
Grantor maintains any material books or records relating to any Accounts Receivable (with each
location at which material chattel paper, if any, is kept being indicated by an “*”).

     (b) Set forth in schedule 2(B) opposite the name of each Grantor are all the locations
maintained by the Canadian Parent and its Subsidiaries where such Grantor regularly maintains
material amounts of any Collateral constituting Equipment or Goods not identified above.

     (c) The location of the Chief Executive Office for the Canadian Borrowers and the Canadian
Subsidiary Guarantors is 3790 — 98 Street NW, Edmonton, Alberta T6E 6B4.

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 20

 

     IN WITNESS WHEREOF, the undersigned have duly executed this certificate on this
10th day of December, 2010.

	 	 	 	 	 
	 	PTI GROUP INC.

 	 
	 	 	 
	 	 	Name:  	Mark Menard 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	PTI PREMIUM CAMP SERVICES LTD.

 	 
	 	 	 
	 	 	Name:  	Mark Menard 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 21

 

SCHEDULE 1(A)

Name and Jurisdiction — Canadian Grantors

	 	 	 	 	 	 	 
	 	 	Province of	 	 
	 	 	Incorporation or	 	 
	Legal Name of Grantor	 	Formation	 	Corporate Access Number
	PTI Group Inc.

	 	Alberta
	 	 	209197326	 
	PTI Premium Camp Services Ltd.

	 	Alberta
	 	 	20710159	 
	PTI Camp Installations Ltd.

	 	Alberta
	 	 	204710800	 
	PTI International Inc.

	 	Alberta
	 	 	2010496053	 
	PTI International Ltd.

	 	Alberta
	 	 	20564953	 
	PTI Noble Structures Inc.

	 	Alberta
	 	 	2011718711	 
	Crown Camp Services Ltd.

	 	Alberta
	 	 	203728555	 
	PTI Travco Modular Structures Ltd.

	 	Alberta
	 	 	20212942	 
	Stinger Wellhead Protection
(Canada) Incorporated

	 	Alberta
	 	 	2011669849	 

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 22

 

SCHEDULE 1(B)

Previous Names

	 	 	 	 	 
	Grantor	 	Other Name / Previous Name	 	Date of Name Change
	Stinger Wellhead
Protection (Canada)
Incorporated

	 	1166984 Alberta Ltd.
	 	February 10, 2006

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 23

 

SCHEDULE 2(A)

Material Books and Records Locations

	 	 	 	 	 	 	 
	Grantor	 	Mailing Address	 	City	 	Province
	PTI Group Inc.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Camp Installations
Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI International Inc.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI International Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Noble Structures Inc.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	Crown Camp Services Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Travco Modular
Structures Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	Stinger Wellhead
Protection (Canada) Incorporated

	 	#334, 28042 Hwy 11
	 	Red Deer
	 	Alberta

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 24

 

SCHEDULE 2(B)

Locations of Material Collateral

	 	 	 	 	 	 	 
	Grantor	 	Mailing Address	 	City	 	Province
	PTI Group Inc.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	220 & 230 Diamond Ave
	 	Spruce Grove
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	Lot 3, SE-2-71-6-W6 County

Industrial Park
	 	Grand Prairie
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	Beaver River Lodge

E 1/2 1-94-11-W4
	 	Fort McMurray
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	Athabasca Lodge

SE 1/4 & NE 1/4 1-94-11-W4M
	 	Fort McMurray
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	Wapasu Lodge

E 1/2 29 Township
095-07-W4M, SE 28 & W 1/2
28 Township 095-07-W4M
	 	Fort McMurray
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	Conklin Lodge

W 1/2-10-77-8-4
	 	Fort McMurray
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	16511 — 116 Ave NW
	 	Edmonton
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	207 — 10020 Franklin Ave
	 	Fort McMurray
	 	Alberta
	PTI Premium Camp Services
Ltd.

	 	5702 — 57 Ave
	 	Grimshaw
	 	Alberta
	PTI Camp Installations Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI International Inc.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI International Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Noble Structures Inc.

	 	21216 — 113 Ave
	 	Edmonton
	 	Alberta
	Crown Camp Services Ltd.

	 	3790 — 98 Street NW
	 	Edmonton
	 	Alberta
	PTI Travco Modular
Structures Ltd.

	 	1507 — 8 Street
	 	Nisku
	 	Alberta

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 25

 

	 	 	 	 	 	 	 
	Grantor	 	Mailing Address	 	City	 	Province

	Stinger Wellhead 

Protection (Canada)
Incorporated

	 	#334, 28042 Hwy 11
	 	Red Deer
	 	Alberta
	Stinger Wellhead 

Protection (Canada)
Incorporated

	 	455, 808 — 4 Ave SW
	 	Calgary
	 	Alberta
	Stinger Wellhead 

Protection (Canada)
Incorporated

	 	11303 — 96 Ave
	 	Grand Prairie
	 	Alberta
	Stinger Wellhead 

Protection (Canada) 

Incorporated

	 	1505 Semrau Drive NW
	 	Medicine Hat
	 	Alberta

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

Page 26

 

Annex 2 to the

Amended and Restated

Canadian Security Agreement

     SUPPLEMENT NO. __ dated as of [_____________] (the “Supplement”), to the Amended and Restated
Canadian Security Agreement dated as of December 10, 2010 (the “Security Agreement”), among PTI
GROUP INC., a corporation amalgamated under the laws of the Province of Alberta, (the “Canadian
Parent”), PTI PREMIUM CAMP SERVICES LTD., a corporation amalgamated under the laws of the Province
of Alberta (“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers”), each
subsidiary of the Canadian Borrowers listed on Schedule I thereto (each such subsidiary
individually a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”; the
Subsidiary Guarantors and the Canadian Borrowers are referred to collectively herein as the
“Grantors”) and ROYAL BANK OF CANADA (“RBC”), as collateral agent (in such capacity, the “Canadian
Collateral Agent”) for the Secured Parties (as defined herein).

     A. Reference is made to (a) the Amended and Restated Credit Agreement dated as of December
10, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Canadian Borrowers, Oil States International Inc. (the “U.S. Borrower” and,
together with the Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto
(the “Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity,
the “Administrative Agent”) and U.S. Collateral Agent, and Royal Bank of Canada, as administrative
agent and Canadian Collateral Agent for the Canadian Lenders, and (b) the Security Agreement.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

     C. The Grantors have entered into the Security Agreement in order to induce the Canadian
Lenders to make Canadian Loans and the Issuing Banks to issue Canadian Letters of Credit. Section
7.15 of Security Agreement provides that additional Canadian Subsidiaries of the Canadian Borrowers
may become Grantors under the Security Agreement by execution and delivery of an instrument in the
form of this Supplement. The undersigned Canadian Subsidiary (the “New Grantor”) is executing this
Supplement in accordance with the requirements of the Credit Agreement to become a Grantor under
the Security Agreement in order to induce the Canadian Lenders to make additional Canadian Loans
and the Issuing Banks to issue additional Canadian Letters of Credit and as consideration for
Canadian Loans previously made and Canadian Letters of Credit previously issued.

     Accordingly, the Canadian Collateral Agent and the New Grantor agree as follows:

     SECTION 1. In accordance with Section 7.15 of the Security Agreement, the New Grantor by its
signature below becomes a Grantor under the Security Agreement with the same force and effect as if
originally named therein as a Grantor and the New Grantor hereby (a) agrees to all the terms and
provisions of the Security Agreement applicable to it as a Grantor thereunder and (b) represents
and warrants that the representations and warranties made by it as a

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

 Page 27

 

Grantor thereunder are true and correct on and as of the date hereof in all material respects. In
furtherance of the foregoing, the New Grantor, as security for the payment and performance in full
of the Obligations (as defined in the Security Agreement), does hereby create and grant to the
Canadian Collateral Agent, its successors and assigns, for the benefit of the Secured Parties,
their successors and assigns, a security interest in and lien on all of the New Grantor’s right,
title and interest in and to the Collateral (as defined in the Security Agreement) of the New
Grantor. Each reference to a “Grantor” in the Security Agreement shall be deemed to include the
New Grantor.

     SECTION 2. The New Grantor represents and warrants to the Canadian Collateral Agent and the
other Secured Parties that this Supplement has been duly authorized, executed and delivered by it
and constitutes its legal, valid and binding obligation, enforceable against it in accordance with
its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application (regardless of whether enforcement is sought in a proceeding in equity or at
law)).

     SECTION 3. This Supplement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Supplement shall become effective when the
Canadian Collateral Agent shall have received counterparts of this Supplement that, when taken
together, bear the signatures of the New Grantor and the Canadian Collateral Agent. Delivery of an
executed signature page to this Supplement by facsimile transmission shall be as effective as
delivery of a manually signed counterpart of this Supplement.

     SECTION 4. The New Grantor hereby represents and warrants that (a) set forth on Schedule I
attached hereto is a true and correct schedule of the location of any and all Collateral of the New
Grantor and (b) set forth under its signature hereto, is the true and correct location of the chief
executive office of the New Grantor.

     SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in
full force and effect.

     SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE PROVINCE OF ALBERTA, CANADA.

     SECTION 7. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions contained herein and in the Security Agreement shall not in any way be
affected or impaired thereby (it being understood that the invalidity of a particular provision in
a particular jurisdiction shall not in and of itself affect the validity of such provision in any
other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions.

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

 Page 28

 

     SECTION 8. All communications and notices hereunder shall be in writing and given as provided
in Section 7.01 of the Security Agreement. All communications and notices hereunder to the New
Grantor shall be given to it at the address set forth under its signature below.

     SECTION 9. The New Grantor agrees to reimburse the Canadian Collateral Agent for its
reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable
fees, other charges and disbursements of counsel for the Canadian Collateral Agent.

     IN WITNESS WHEREOF, the New Grantor and the Canadian Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written.

	 	 	 	 	 
	 	[Name Of New Grantor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	Address: 	 
	 
	 	ROYAL BANK OF CANADA, as

Canadian Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

 Page 29

 

SCHEDULE I

to Supplement No.___ to the

Amended and Restated

Canadian Security Agreement

LOCATION OF COLLATERAL

	 	 	 

	Description

	 	Location

Exhibit F-2 — Form of Amended and Restated Canadian Security Agreement

 Page 30

 

EXHIBIT F-3

[Form of]

AUSTRALIAN SECURITY AGREEMENT

See Attached.

Exhibit F-3 — Form of Australian Security Agreement

 Page 1

 

PTI Holding Company 1 Pty Limited

ACN 146 700 441

and

Royal Bank of Canada

Fixed and floating charge

Arnold Bloch Leibler

Ref: BNM 011562615

Exhibit F-3 — Form of Australian Security Agreement

 Page 2

 

TABLE OF CONTENTS

	 	 	 	 	 
	 
	 	 	Page no.	 
	1 DEFINITIONS AND INTERPRETATION
	 	 	5	 
	1.1 Definitions
	 	 	5	 
	1.2 Incorporated definitions
	 	 	10	 
	1.3 Interpretation
	 	 	10	 
	1.4 Benefit of Charge
	 	 	12	 
	1.5 Capacity of Collateral Agent
	 	 	12	 
	2 CHARGE
	 	 	12	 
	2.1 Charge
	 	 	12	 
	2.2 Priority
	 	 	12	 
	2.3 Nature of Charge
	 	 	12	 
	2.4 Crystallisation
	 	 	13	 
	2.5 De-crystallisation
	 	 	14	 
	2.6 Prospective liability
	 	 	14	 
	3 DISCHARGE OF THE CHARGE
	 	 	14	 
	4 REPRESENTATIONS AND WARRANTIES
	 	 	15	 
	4.1 Representations and warranties
	 	 	15	 
	4.2 Reliance
	 	 	15	 
	5 UNDERTAKINGS OF CHARGOR
	 	 	16	 
	5.1 Performance under the Loan Documents
	 	 	16	 
	5.2 Secured Property
	 	 	16	 
	5.3 Further security
	 	 	16	 
	5.4 Title Documents
	 	 	17	 
	5.5 Registration and protection of security
	 	 	17	 
	5.6 Negative pledge
	 	 	18	 
	5.7 Restricted dealings — property subject to fixed charge
	 	 	18	 
	5.8 Restricted dealings — property subject to floating charge
	 	 	18	 
	5.9 No caveats
	 	 	18	 
	5.10 Term of undertakings
	 	 	19	 
	6 DEFAULT
	 	 	19	 
	6.1 Events of Default
	 	 	19	 
	6.2 Ensure no default
	 	 	19	 
	7 ENFORCEMENT
	 	 	19	 
	7.1 When enforceable
	 	 	19	 
	7.2 Assistance in realisation
	 	 	19	 
	8 RECEIVER
	 	 	20	 
	8.1 Appointment of Receiver
	 	 	20	 
	8.2 Agency of Receiver
	 	 	20	 
	8.3 Powers of Receiver
	 	 	20	 
	8.4 Nature of Receiver’s Powers
	 	 	23	 
	8.5 Status of Receiver after commencement of winding-up
	 	 	23	 
	8.6 Powers exercisable by the Chargee
	 	 	23	 
	8.7 Set off
	 	 	24	 
	8.8 Notice of exercise of rights
	 	 	24	 
	8.9 Termination of receivership and possession
	 	 	24	 
	9 APPLICATION AND RECEIPTS OF MONEY
	 	 	24	 
	9.1 Order of application
	 	 	24	 
	9.2 Amounts contingently due
	 	 	25	 
	10 POWER OF ATTORNEY
	 	 	25	 
	10.1 Appointment of Attorney
	 	 	25	 

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	 	 	Page no.	 
	10.2 Purposes of appointment
	 	 	25	 
	10.3 Delegation and substitution
	 	 	26	 
	11 INDEMNITIES
	 	 	26	 
	11.1 Stamp duty indemnity
	 	 	26	 
	11.2 Continuing indemnities and evidence of loss
	 	 	27	 
	12 TAXES, COSTS AND EXPENSES
	 	 	28	 
	12.1 Taxes
	 	 	28	 
	12.2 GST
	 	 	28	 
	13 PROTECTION
	 	 	29	 
	13.1 Protection of third parties
	 	 	29	 
	13.2 Protection of Enforcing Party
	 	 	29	 
	14 THIRD PARTY PROVISIONS
	 	 	29	 
	14.1 Independent obligations
	 	 	29	 
	14.2 Unconditional nature of obligations
	 	 	30	 
	14.3 No competition
	 	 	32	 
	15 SAVING PROVISIONS
	 	 	32	 
	15.1 Amounts payable on demand
	 	 	32	 
	15.2 Statutory powers
	 	 	32	 
	15.3 Continuing security
	 	 	33	 
	15.4 No merger of security
	 	 	33	 
	15.5 Exclusion of moratorium
	 	 	33	 
	15.6 Conflict
	 	 	33	 
	15.7 Completion of blank securities
	 	 	33	 
	15.8 Principal obligations
	 	 	34	 
	15.9 No obligation to marshal
	 	 	34	 
	15.10 Certificates
	 	 	34	 
	15.11 Chargee’s receipts
	 	 	34	 
	16 REINSTATEMENT OF RIGHTS
	 	 	35	 
	17 NOTICES
	 	 	35	 
	18 PPS ACT
	 	 	35	 
	18.1 PPS Act
	 	 	35	 
	18.2 Definitions
	 	 	35	 
	18.3 Further actions
	 	 	36	 
	19 GENERAL
	 	 	36	 
	19.1 Governing law and jurisdiction
	 	 	36	 
	19.2 Waivers
	 	 	36	 
	19.3 Variation
	 	 	37	 
	19.4 Cumulative rights
	 	 	37	 
	19.5 Assignment
	 	 	37	 
	19.6 Attorneys
	 	 	37	 
	19.7 Electronic delivery of document
	 	 	37	 
	19.8 Counterparts
	 	 	37	 

Exhibit F-3 — Form of Australian Security Agreement

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	THIS DEED is made on

	 	 	2010	 

PARTIES

PTI HOLDING COMPANY 1 PTY LIMITED

ACN 146 700 441

(“Chargor”)

and

ROYAL BANK OF CANADA

in its capacity as the Canadian collateral agent for and on behalf of the Canadian Secured

Parties

of Level 46, 2 Park Street, Sydney NSW 2000

(“Chargee”)

BACKGROUND

	A	 	The Canadian Secured Parties have agreed to enter into the Credit
Agreement and certain other Loan Documents.
	 
	B	 	The Chargor is the legal and beneficial owner the Secured Property.
	 
	C	 	In consideration of the Canadian Secured Parties agreeing to enter into
the documents referred to in paragraph (A) above, the Chargor has agreed to
charge the Secured Property to the Chargee to secure payment of the Secured
Moneys.

AGREED TERMS

	1	 	Definitions and interpretation
	 
	1.1	 	Definitions
	 
	 	 	In this Deed, unless the context requires otherwise:
	 
	 	 	“Attorney” means an attorney appointed pursuant to this Deed.

	 	 	“Authorisation” includes:

	 	(a)	 	any consent, authorisation, registration, filing, agreement, notarisation,
certificate, permission licence, approval or exemption from by or with a Government
Agency; or

	 	(b)	 	in relation to anything which is prohibited or restricted by law if a
Government Agency takes certain action within a specified period, the expiry of that
period without the Government Agency taking that action.

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“Authorised Officer” means, in relation to a party:

	 	(a)	 	a company director or company secretary of that party or any person whose
title of office includes the words “Director”, “Manager” or other similar expression;

	 	(b)	 	any person acting in any such office; or

	 	(c)	 	any person nominated by that party as an authorised officer by notice in
writing to the other parties (the notice to be signed by a company director or company
secretary of the notifying party and accompanied by a certified copy of the signature
of the nominated person).

“Business Day” means a day on which banks are open for general banking business in
Melbourne, excluding Saturdays, Sundays and public holidays.

“Canadian Borrowers” means PTI Group Inc., a corporation amalgamated under the laws of
the Province of Alberta and PTI Premium Camp Services Ltd., a corporation amalgamated under
the laws of the Province of Alberta.

“Canadian Secured Parties” has, for the avoidance of doubt, the meaning given to the
term “Secured Parties” in the Canadian Security Agreement.

    “Charge” means each security created by this
Deed.

“Controller” means, in relation to a person’s property:

	 	(a)	 	a receiver or receiver and manager of that property; or

	 	(b)	 	anyone else who (whether or not as agent for the person) is in possession,
or has control of that property to enforce a Security Interest.

“Corporations Act” means the Corporations Act 2001 (Cth).

“Credit Agreement” means the Amended and Restated Credit Agreement dated on or about the
date of this Deed between Oil States International Inc., the Canadian Borrowers, Wells Fargo
Bank, N.A. as U.S. administrative agent and U.S. collateral agent, the Lenders, the Chargee
and others.

“Deed” means this deed of charge.

“Enforcing Party” means the Chargee or any Receiver, agent, administrator, Attorney or
Controller appointed under this Deed or any applicable law.

“Event of Default” mean any event specified in clause 6.1.

“Excluded Property” means:

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	 	(a)	 	all rights, property and undertaking held by the Chargor at the date on
which this charge is first signed and sealed by any party to it and which are located
or taken to be located in New South Wales;

	 	(b)	 	land or interests in land (other than interests held by way of security)
located or taken to be located in New South Wales and which are acquired by the Chargor
at any time within 12 months of the date on which this charge is first signed and
sealed by any party to it; and

	 	(c)	 	any rights, property and undertaking identified in New South Wales under an
arrangement in place when this charge was first signed and sealed by any party to it,

except that, for the avoidance of doubt, Excluded Property does not include the Marketable
Securities that are held by the Chargor in respect of PTI Holding Company 2 Pty Limited ACN
146 700 487.

“Excluded Tax” means a Tax imposed on the overall net income of the Chargee or the Canadian
Secured Parties.

“Finally Paid” means, in respect of the Secured Moneys, payment or satisfaction of it in
full.

“Financial Indebtedness” means any actual or contingent debt or other monetary liability
arising in respect of money borrowed or raised or any financial accommodation provided.

“Government Agency” means:

	 	(a)	 	a government or government department;

	 	(b)	 	a governmental, semi-governmental, regulatory or judicial entity or
authority; or

	 	(c)	 	a person (whether autonomous or not) who is charged with the administration
of a law.

“Insolvency Event” means the occurrence of any of the following events in relation to any
person:

	 	(a)	 	the person becomes insolvent as defined in the Corporations Act, states
that it is insolvent or is presumed to be insolvent under an applicable law;

	 	(b)	 	the person is wound up, dissolved or declared bankrupt;

	 	(c)	 	the person becomes an insolvent under administration as defined in the
Corporations Act;

	 	(d)	 	a liquidator, provisional liquidator, Controller, administrator, trustee
for creditors, trustee in bankruptcy or other similar person is appointed to, or takes
possession or control of, any or all of the person’s assets or undertaking;

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	 	(e)	 	the person enters into or becomes subject to:

	 	(i)	 	any arrangement or composition with one or more of its
creditors or any assignment for the benefit of one or more of its creditors; or

	 	(ii)	 	any re-organisation, moratorium, deed of company
arrangement or other administration involving one or more of its creditors;

	 	(f)	 	an application or order is made (and, in the case of an application, it is
not stayed, withdrawn or dismissed within 30 days), resolution passed, proposal put
forward, or any other action taken which is preparatory to or could result in any of
(b), (c), (d) or (e) above;

	 	(g)	 	the person is taken, under section 459F(1) of the Corporations Act, to have
failed to comply with a statutory demand;

	 	(h)	 	the person becomes unable to pay its debts when they fall due; or

	 	(i)	 	anything occurs under the law of any jurisdiction which has a substantially
similar effect to any of the other paragraphs of this definition,

unless the event occurs as part of a solvent reconstruction, amalgamation, merger or
consolidation that has been approved in writing by the Chargee and “Insolvency” shall be
construed accordingly.

“Intellectual Property Rights” includes any patent, design, trade mark, copyright, trade
secret, confidential information and any right to use, or to grant the use of, or to be the
registered owner or user of, any of them.

“Liability” means any debt or other monetary liability or penalty, fine or payment or any
damages, Losses, costs, charges, outgoings or expenses of whatever description.

“Loans” means:

	 	(a)	 	the Canadian Revolving Credit Loan or a Canadian Term Loan made pursuant to
the Credit Agreement; and

	 	(b)	 	any Canadian Letters of Credit issued to or for the account of the Canadian
Borrowers.

“Loss” means a loss, claim action, damage, Liability, compensation, outgoing or payment
suffered, paid or incurred.

“Marketable Securities” has the meaning given to that expression in the Corporations Act but
also includes:

	 	(a)	 	an undertaking referred to in the exceptions in paragraph (a), (b) and (d)
of the definition of debenture in the Corporations Act 2001;

	 	(b)	 	a unit or other interest in a trust or partnership;

Exhibit F-3 — Form of Australian Security Agreement

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	 	(c)	 	a negotiable instrument; and

	 	(d)	 	a right or an option in respect of a Marketable Security, whether issued or
unissued including any of the above.

“Permitted Bank Account” means any bank account opened with a bank or financial institution
in the name of the Chargor and which is located or taken to be located in New South Wales on
the date this Charge is first signed.

“Permitted Security Interest” means, in relation to the Chargor:

	 	(a)	 	this Charge;

	 	(b)	 	a Security Interest over the Chargor’s assets to which the Chargee has
consented with the consent of the Lenders required by the terms of the Credit
Agreement. It does not include a Security Interest to which the Chargee has consented
on one or more conditions if those conditions are not complied with;

	 	(c)	 	a lien or charge arising by operation of law to the ordinary course of the
person’s ordinary business. It does not include a lien or charge that secures overdue
debts; and

	 	(d)	 	any Liens that are permitted to be incurred, assumed, created or permitted
to exist in respect of the Chargor pursuant to Sections 6.02(a) to 6.02(m) (inclusive)
of the Credit Agreement.

“Power” means any right, power, authority, discretion, opinion or remedy conferred on an
Enforcing Party by this Deed or any applicable law.

“Receiver” means a receiver or receiver and manager appointed under this Deed.

“Release” means any of release, compromise, discharge, set off, disclaimer, abandonment,
alienation, abrogation, suspension, moratorium or other like action.

“Secured Property” means all of the present and future undertaking, assets and rights of the
Chargor including, but not limited to, all real and personal property, choses in action,
goodwill, uncalled and called but unpaid normal or premium capital, but excluding Excluded
Property.

“Secured Moneys” means all money which a Canadian Borrower is or at any time may become
actually or contingently liable to pay to or for the account of a Canadian Secured Party for
any reason whatsoever under or in connection with:

	 	(a)	 	the Loans, whether or not currently contemplated (including by way of
principal, interest, fees, costs, indemnity, Guarantee, charges, duties or expenses, or
payment of liquidated or unliquidated damages under or in connection with the Loans, or
as a result of a breach of or default under or in connection with the Loans);

Exhibit F-3 — Form of Australian Security Agreement

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	 	(b)	 	each Hedging Agreement entered into with a counterparty that was a Canadian
Lender (or an affiliate of a Canadian Lender) at the time such Hedging Agreement was
entered into;

	 	(c)	 	any and all obligations whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired (including all renewals, extensions
and modifications thereof and substitutions therefor) in connection with Banking
Services; and

	 	(d)	 	all other monetary liabilities by way of principal, interest, fees, costs,
indemnity, Guarantee, charges, duties or expenses, or payment of liquidated or
unliquidated damages under or in connection with the Loan Documents, or as a result of
a breach of or default under or in connection with, the Loan Documents.

It also includes money that the Canadian Borrowers would have been liable to pay but for its
Insolvency, or some other reason.

“Security Interest” means any mortgage, lien, hypothecation, charge (whether fixed or
floating), pledge or other form of security interest securing any obligation of any person
or any other agreement or arrangement having a similar effect.

“Tax” means any tax, levy, impost, duty, charge, deduction, compulsory loan or withholding
of whatever kind (together with any related interest, penalty, fine or expense) that is
imposed by law or any Government Agency.

“Title Document” means any present or future original, duplicate or counterpart:

	 	(a)	 	certificate or document of title;

	 	(b)	 	certificate or document relating to title; or

	 	(c)	 	certificate or document relating to use, possession, disposition,
devolution or acquisition of property.

	1.2	 	Incorporated definitions

	 	 	A word or phrase (other than one defined in clause 1.1) defined in the Credit Agreement has
the same meaning in this Deed.

	1.3	 	Interpretation

	 	 	In this document, unless the context requires otherwise:

	 	(a)	 	the singular includes the plural and vice versa;

	 	(b)	 	words denoting any gender include all genders;

	 	(c)	 	where a word or phrase is defined, its other grammatical forms have a
corresponding meaning;

	 	(d)	 	a reference to a party, clause, paragraph, schedule or annexure is a
reference to a party, clause, paragraph, schedule or annexure to or of this document;

Exhibit F-3 — Form of Australian Security Agreement

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	 	(e)	 	a reference to this document includes any schedules or annexures;

	 	(f)	 	headings are for convenience and do not affect interpretation;

	 	(g)	 	the background or recitals to this document are adopted as and form part of
this document;

	 	(h)	 	a reference to any document or agreement includes a reference to that
document or agreement as amended, novated, supplemented, varied or replaced from time
to time;

	 	(i)	 	a reference to “$”, “A$” or “dollar” is a reference to Australian currency;

	 	(j)	 	a reference to a time is a reference to Australian Eastern Standard Time or
Australian Eastern Daylight Time, whichever is appropriate;

	 	(k)	 	a reference to a party includes its executors, administrators, successors,
substitutes (including persons taking by novation) and permitted assigns;

	 	(l)	 	a reference to writing includes any method of representing words, figures
or symbols in a permanent and visible form;

	 	(m)	 	words and expressions denoting natural persons include bodies corporate,
partnerships, associations, firms, governments and governmental authorities and
agencies and vice versa;

	 	(n)	 	a reference to any legislation or to any provision of any legislation
includes:

	 	(i)	 	any modification or re enactment of the legislation;

	 	(ii)	 	any legislative provision substituted for, and all
legislation, statutory instruments and regulations issued under, the
legislation or provision; and

	 	(iii)	 	where relevant, corresponding legislation in any
Australian State or Territory;

	 	(o)	 	no rule of construction applies to the disadvantage of a party because that
party was responsible for the preparation of this document or any part of it;

	 	(p)	 	the words “including”, “for example”, “such as” or other similar
expressions (in any form) are not words of limitation;

	 	(q)	 	a reference to any act of a company includes an act performed in general
meeting or on the company’s behalf by its directors, officers, employees, share
registrars, accountants, solicitors or agents;

	 	(r)	 	a reference to a body (including, but not limited to, an institute,
association or authority) whether statutory or not:

	 	(i)	 	which ceases to exist; or

	 	(ii)	 	whose powers or functions are transferred to another body,

Exhibit F-3 — Form of Australian Security Agreement

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	 	 	 	is a reference to the body which replaces it or which substantially succeeds to its
powers or functions; and

	 	(s)	 	an Event of Default is “continuing” if it has not been remedied by the
Chargor or waived by the Chargee.

	1.4	 	Benefit of Charge

	 	 	The Charge provided in this Deed is held by the Collateral Agent for and on behalf of the
Canadian Secured Parties and any amendment, waiver, consent or decision under this Deed by
the Collateral Agent will only be entered into, granted or made in accordance with the terms
of the Credit Agreement.

	1.5	 	Capacity of Collateral Agent

	 	(a)	 	The Collateral Agent declares that it will hold the Australian Security
Agreements and any other property accepted by it to be held as trustee on trust at any
time for itself and the persons who are Canadian Secured Parties from the date of this
Deed and, unless ended earlier, until the day before the eightieth anniversary of the
date of this Deed.

	 	(b)	 	The Collateral Agent enters into this Deed as trustee for the Canadian
Secured Parties pursuant to and in accordance with Section 8 of the Credit Agreement.

	2	 	Charge
	 
	2.1	 	Charge

	 	 	The Chargor charges all of its interest in the Secured Property to the Chargee as security
for the due and punctual payment of the Secured Moneys. The Chargor does this as legal and
beneficial owner of the Secured Property.

	2.2	 	Priority

	 	 	Save and except as provided otherwise in any Loan Document or save as agreed by the parties
in writing, the parties intend that the Charge take priority over all other Security
Interests of the relevant Chargor.

	2.3	 	Nature of Charge

	 	 	In relation to the Chargor, the Charge created under clause 2.1 is:

	 	(a)	 	a fixed charge over all that Chargor’s present and future right, title and
interest in the Secured Property which is:

	 	(i)	 	any freehold or leasehold property or any other interest in
real property, fixtures, plant and equipment (other than stock in trade);

	 	(ii)	 	any uncalled or called but unpaid capital or premiums of
that Chargor;

Exhibit F-3 — Form of Australian Security Agreement

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	 	(iii)	 	any Title Document and any other documents evidencing a
right to the possession of any real or personal property;

	 	(iv)	 	any partnership in which that Chargor is a partner;

	 	(v)	 	any joint venture in which that Chargor is a joint
venturer;

	 	(vi)	 	any insurance policy in relation to the Secured Property
including, but not limited to, any proceeds from that insurance policy;

	 	(vii)	 	any Marketable Securities;

	 	(viii)	 	any Intellectual Property Rights;

	 	(ix)	 	documents and agreements to which that Chargor is a party;

	 	(x)	 	any other assets that are not acquired for disposal in the
ordinary course of that Chargor’s business; and

	 	(xi)	 	any other property if clause 2.4 says this Charge is to be
fixed over that property; and

	 	(b)	 	a floating charge over all other Secured Property.

	2.4	 	Crystallisation

	 	 	The floating charge of the Chargor created in clauses 2.1 and 2.3(b) automatically and
immediately crystallises and becomes fixed:

	 	(a)	 	without the Chargee giving any notice to the Chargor:

	 	(i)	 	when the law provides that the floating charge becomes a
fixed charge;

	 	(ii)	 	when a Receiver or any other receiver or receiver and
manager is appointed in respect of any of the Secured Property;

	 	(iii)	 	when the Charge or any other Security Interest over any of
the Secured Property is enforced in any other way;

	 	(iv)	 	when a notice under section 260 of schedule 1 of the Tax
Administration Act 1953 (Cth) or under similar legislation in respect of the
Chargor is signed by, or on behalf of, the Commissioner of Taxation or the
Deputy Commissioner of Taxation;

	 	(v)	 	when an order is made or a resolution is passed for the
liquidation of the Chargor;

	 	(vi)	 	in respect of an item of Secured Property, when any step is
taken (including, without limitation, signing a notice) to create, issue, levy
or enforce any distress, attachment, execution, statutory assignment, statutory
charge or other similar right or process against or upon the Secured Property;

Exhibit F-3 — Form of Australian Security Agreement

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	 	(vii)	 	in respect of an item of Secured Property, when any
Security Interest over any of the Secured Property is enforced or any floating
Security Interest over any of the Secured Property crystallises or otherwise
becomes a fixed Security Interest;

	 	(b)	 	in respect of the proceeds of any book debt or other debt or other moneys
now or in the future payable to that Chargor and which are the subject of the floating
charge, when notice in respect of those proceeds or moneys is given to the Chargor by
the Chargee at any time after an Event of Default has occurred and is subsisting; or

	 	(c)	 	in respect of any asset forming part of the Secured Property when the
Chargee gives notice in respect of that asset to the Chargor upon or any time after the
occurrence of an Event of Default which is subsisting.

	2.5	 	De-crystallisation

	 	(a)	 	Where an asset has become subject to a fixed charge under clause 2.4, the
Chargee may release the asset from that fixed charge by notice in writing to the
Chargor as of the date specified in the notice.

	 	(b)	 	When an asset is released from the fixed charge under clause 2.5(a), the
asset will again be subject to:

	 	(i)	 	the floating charge under clauses 2.1 and 2.3; and

	 	(ii)	 	the further operation of clause 2.4.

	2.6	 	Prospective liability

	 	(a)	 	For the purposes only of fixing priorities under section 282(3) of the
Corporations Act, the maximum amount of the prospective liability secured by this Deed
is $1,000,000,000.

	 	(b)	 	The Chargee may from time to time lodge a notice under section 268(2) of
the Corporations Act on behalf of the Chargor specifying an increase in the maximum
amount of the prospective liability referred to in clause 2.6(a) and from the date of
lodgement the amount specified in clause 2.6(a) is to be regarded as varied to the
amount specified in that notice.

	 	(c)	 	Neither clause 2.6(a) nor clause 2.6(b) in any way affects or limits the
actual amount of Secured Moneys which may in fact be secured by the Charge.

	 	(d)	 	Clauses 2.6(a), 2.6(b) and 2.6(c) are to be construed independently of each
other.

	3	 	Discharge of the Charge

	 	(a)	 	At the written request of the Chargor, the Chargee must discharge the Charge
if:

	 	(i)	 	the Secured Moneys have been Finally Paid;

Exhibit F-3 — Form of Australian Security Agreement

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	 	(ii)	 	the Chargor has fully observed and performed its
obligations under this Deed and each other Loan Document to which it is
expressed to be a party; and

	 	(iii)	 	the Chargee is obliged or permitted to grant that
discharge under the Credit Agreement.

	 	(b)	 	Clause 3(a) overrides the operation and effect of any other clause to the
contrary in this Deed.

	 	(c)	 	The parties intend that clause 3(a) be severed from this Deed if clause
3(a) is void or unenforceable under applicable law.

	 	(d)	 	The parties do not intend clause 3(c) to exclude the general law of
severance from applying to this Deed.

	4	 	Representations and warranties
	 
	4.1	 	Representations and warranties

	 	 	The Chargor represents and warrants in favour of the Chargee that as at the date of this
Deed all its representations and warranties as to itself in the Credit Agreement are true
and correct or will be true and correct in all respects when made or regarded as having been
made and further represents and warrants that:

	 	(a)	 	(title) it has legal and beneficial right and title to, and full power to
charge, the Secured Property in the manner provided in this Deed;

	 	(b)	 	(Security Interests) the Secured Property is free from all Security Interests
other than Permitted Security Interests;

	 	(c)	 	(Trust capacity) it does not enter into this Deed as trustee and is not the
trustee of any trust or settlement; and

	 	(d)	 	(Excluded Property) as at the date of this Deed and as far as the Chargor is
aware, it does not hold any rights, property or undertaking that is considered to be
Excluded Property, other than its rights, title and interest in connection with the
Permitted Bank Account.

	4.2	 	Reliance

	 	 	The Chargor acknowledges that:

	 	(a)	 	it has not entered into this Deed in reliance on any representation,
warranty, promise or statement made by the Chargee or any person on behalf of the
Chargee; and

	 	(b)	 	the Chargee enters into this Deed in reliance on the representations and
warranties given under this Deed.

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	5	 	Undertakings of Chargor
	 
	5.1	 	Performance under the Loan Documents

	 	(a)	 	The Chargor must fully and punctually perform its obligations under any
Loan Documents to which it is a party.

	 	(b)	 	The Chargor must pay the Secured Moneys in accordance with the Loan
Documents to which it is a party and each other obligation under which the Secured
Moneys are payable.

	 	(c)	 	The Chargor must use its reasonable endeavours to provide the Chargee with
written notice within 7 Business Days of it acquiring any rights, property or
undertaking that may be considered Excluded Property after the date of this Deed.

	5.2	 	Secured Property

	 	 	The Chargor must maintain and protect its Secured Property and must, without limitation:

	 	(a)	 	remedy any defect in its title to any part of the Secured Property where
failure to do so would have a Material Adverse Effect;

	 	(b)	 	take or defend all legal proceedings or other action necessary or desirable
for the protection or recovery of any of the Secured Property where failure to do so
would have a Material Adverse Effect;

	 	(c)	 	fully and punctually comply with and observe all applicable laws, all
requirements and orders of any Government Agency where non-compliance or non-observance
would or might impose some Security Interest or restriction, disability or material
Liability, on any of the Secured Property or prejudicially affect any Power; and

	 	(d)	 	keep the Secured Property valid and subsisting and free from liability to
forfeiture, cancellation, avoidance or loss where failure to do so would have a
Material Adverse Effect.

	5.3	 	Further security

	 	(a)	 	The Chargor must, whenever requested by the Chargee, do or cause to be done
anything which:

	 	(i)	 	more satisfactorily (in the reasonable opinion of the
Chargee) secures the priority of the Charge or assures to the Chargee the
Secured Property or any part of it in a manner consistent with this Deed; or

	 	(ii)	 	is necessary in the exercise of any Power of the Chargee,

	 	 	 	including, but not limited to, the execution of any document, the delivery of Title
Documents or the execution and delivery of blank transfers.

	 	(b)	 	Without limiting the generality of clause 5.3(a), at the request of the
Chargee, the Chargor must execute a legal or statutory mortgage over any real property
now held or acquired on or after the date of this Deed.

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	 	(c)	 	The Chargor must register any mortgage executed under clause 5.3(b).

	 	(d)	 	Any mortgage executed under clause 5.3(b) must:

	 	(i)	 	be in favour of the Chargee; and

	 	(ii)	 	be in the form and substance required by the Chargee, but
the Chargee cannot require an obligation which is more onerous than any
obligation contained in this Deed.

	5.4	 	Title Documents

	 	(a)	 	The Chargor must deposit with the Chargee, or as the Chargee directs, the
Title Documents in respect of its Marketable Securities in PTI Holding Company 2 Pty
Limited ACN 146 700 immediately on execution of this Deed.

	 	(b)	 	Save to the extent required by any prior ranking Security Interest, the
Chargor must deposit with the Chargee, or as the Chargee directs, all the Title
Documents in respect of any of the Secured Property which is not specified in clause
5.4(a) and is otherwise subject to the fixed charge created in clauses 2.1 and 2.3:

	 	(i)	 	within 10 Business Days of execution of this Deed;

	 	(ii)	 	within 10 Business Days of the acquisition of any asset
which forms part of the Secured Property and is subject to the fixed charge
created in clauses 2.1 and 2.3; and

	 	(iii)	 	within 10 Business Days of the crystallisation and fixing
for any reason of the floating charge created in clauses 2.1 and 2.3.

	 	(c)	 	Subject to clause 5.4(d), the Chargee may retain the Title Documents until
all the Secured Property is discharged under clause 3.

	 	(d)	 	If the Charge is enforced by the Chargee, an Enforcing Party is entitled:

	 	(i)	 	to deal with the Title Documents as if it was the absolute
and unencumbered owner of the Secured Property to which the Title Documents
relate; and

	 	(ii)	 	in exercising a power of sale, to deliver any Title
Document to a purchaser of the Secured Property to which it relates.

	5.5	 	Registration and protection of security

	 	(a)	 	The Chargor must ensure that this Deed is registered and filed in all
registers in all jurisdictions in which it must be registered and filed to ensure
enforceability, validity and priority against all persons and to be effective as a
security.

	 	(b)	 	Whenever any part of the Chargor’s Secured Property is transferred to or
retained in a place where this Deed, because of an increase in the Secured Moneys or
otherwise, bears insufficient stamp duty or is not registered or recorded, or for any
other reason is of limited or of no force or effect, unenforceable, inadmissible in
evidence or of reduced priority, the Chargor must within 10 Business Days after that
transfer or retention ensure that this Deed:

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	 	(i)	 	is stamped to the satisfaction of the Chargee (acting
reasonably);

	 	(ii)	 	is in full force and effect, enforceable, admissible in
evidence and not of reduced priority; and

	 	(iii)	 	is registered in that place, or that part of the Secured
Property is removed from that place.

	5.6	 	Negative pledge

	 	(a)	 	The Chargor must not create, permit, suffer to exist, or agree to, any
interest or Security Interest, other than a Security Interest in favour of the Chargee
or a Permitted Security Interest, over any of the Secured Property without the prior
written consent of the Chargee or as permitted by the Loan Documents.

	 	(b)	 	The Chargor must not without the prior written consent of the Chargee,
acquire an asset to form part of the Secured Property which is subject to an existing
Security Interest, or which will become subject to a Security Interest (except in
favour of the Chargee) when that Chargor acquires the asset.

	 	(c)	 	The Chargor must not without the prior written consent of the Chargee,
incur any Financial Indebtedness except for any Financial Indebtedness permitted under
the Credit Agreement.

	5.7	 	Restricted dealings — property subject to fixed charge

	 	 	The Chargor must not:

	 	(a)	 	deal with, sell or otherwise dispose of or part with possession of;

	 	(b)	 	attempt to do anything listed in clause 5.7(a), in respect of,

	 	 	any of the Secured Property over which the Charge is fixed, without the prior written
consent of the Chargee or as permitted by the Loan Documents.

	5.8	 	Restricted dealings — property subject to floating charge

	 	 	The Chargor must not and may not agree, attempt or take any step to, do anything in clause
5.7 in respect of Secured Property over which this charge is floating except where the thing
done is done in the ordinary course of the Chargor’s ordinary business or otherwise with the
prior written consent of the Chargee.

	5.9	 	No caveats

	 	 	The Chargor must ensure that any caveat lodged in respect of the Secured Property, other
than a caveat lodged by the Chargee or with the Chargee’s consent, is removed within 10
Business Days, or if the caveat is being contested in good faith, it is removed within 30
Business Days.

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	5.10	 	Term of undertakings

	 	 	The Chargor’s undertakings in this clause 5 continue in full force and effect from the date
of this Deed until all the Secured Property is discharged under clause 3.

	6	 	Default
	 
	6.1	 	Events of Default

	 	 	It is an Event of Default if an “Event of Default” as defined in the Credit Agreement
occurs.

	6.2	 	Ensure no default

	 	 	The Chargor agrees to do all things reasonably necessary to ensure that there is no Event of
Default.

	7	 	Enforcement
	 
	7.1	 	When enforceable

	 	(a)	 	Upon the occurrence of an Event of Default which is subsisting:

	 	(i)	 	the Charge is immediately enforceable; and

	 	(ii)	 	the Secured Moneys will, at the Chargee’s option and as
provided for by the terms of the Credit Agreement, be immediately due and
payable by the Chargor.

	 	(b)	 	Subject to clause 2.5, the right of the Chargor to deal, for any purpose,
with:

	 	(i)	 	all of the Secured Property, other than by or through a
Receiver appointed under this Deed, immediately ceases on the crystallisation
of the Charge in respect of all of the Secured Property; and

	 	(ii)	 	any asset which forms part of the Secured Property, other
than by or through a Receiver appointed under this Deed, immediately ceases on
the crystallisation of the Charge in respect of that asset.

	7.2	 	Assistance in realisation

	 	 	Subject to the terms of the Loan Documents, if a Charge has become enforceable, the Chargor
must take all action required by an Enforcing Party to assist that Enforcing Party to
realise the relevant Secured Property and exercise any Power including, but not limited to:

	 	(a)	 	executing all transfers, conveyances, assignments and assurances of any of
the relevant Secured Property;

	 	(b)	 	doing anything necessary or desirable under the law in force in any place
where the relevant Secured Property is situated;

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	 	(c)	 	giving all notices, orders, directions and consents which an Enforcing
Party thinks expedient; and

	 	(d)	 	doing anything necessary:

	 	(i)	 	for a call to be made on the uncalled capital of that
Chargor; or

	 	(ii)	 	to collect all called but unpaid capital of that Chargor.

	8	 	Receiver
	 
	8.1	 	Appointment of Receiver

	 	 	Upon or at any time after the occurrence of an Event of Default which is subsisting, the
Chargee may:

	 	(a)	 	appoint any person or any two or more persons jointly, or severally, or
jointly and severally to be a Receiver of the Secured Property;

	 	(b)	 	remove any Receiver and on the removal, retirement or death of any
Receiver, appoint another Receiver; and

	 	(c)	 	fix the remuneration and direct payment of that remuneration and any costs,
charges and expenses of the Receiver out of the proceeds of any realisation of the
Secured Property of the Chargor.

	8.2	 	Agency of Receiver

	 	(a)	 	Subject to clause 8.5, the Receiver is the agent of the Chargor.

	 	(b)	 	The Chargor is responsible for the acts, defaults and remuneration of the
Receiver in respect of the Secured Property.

	8.3	 	Powers of Receiver

	 	 	Subject to the terms of the Loan Documents and any express exclusion by the terms of the
Receiver’s appointment, the Receiver appointed in respect of any Secured Property of the
Chargor has, in addition to any powers conferred on the Receiver by applicable law, power to
do any of the following whether or not in possession of the Secured Property or any part of
it:

	 	(a)	 	(manage, possession or control) to manage, enter into possession or assume
control of any of the Secured Property;

	 	(b)	 	(lease or licence) to accept the surrender of, determine, grant or renew any
lease or licence in respect of the use or occupation of any of the Secured Property:

	 	(i)	 	on any terms or special conditions that the Chargee or
Receiver thinks fit; and

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	 	(ii)	 	in conjunction with the sale, lease or licence of any other
property by any person;

	 	(c)	 	(sale) to sell or concur in selling any of the Secured Property to any
person:

	 	(i)	 	by auction, private treaty or tender;

	 	(ii)	 	on such terms and special conditions as the Chargee or the
Receiver thinks fit;

	 	(iii)	 	for cash or for a deferred payment of the purchase price,
in whole or in part, with or without interest or security;

	 	(iv)	 	in conjunction with the sale of any property by any other
person; and

	 	(v)	 	in one lot or in separate parcels;

	 	(d)	 	(grant options to purchase) to grant to any person an option to purchase any
of the Secured Property;

	 	(e)	 	(acquire property) to acquire any interest in any property, in the name or on
behalf of the Chargor, which on acquisition forms part of the Secured Property;

	 	(f)	 	(carry on business) to carry on or concur in carrying on any business of the
Chargor in respect of the Secured Property;

	 	(g)	 	(borrowings and security):

	 	(i)	 	to raise or borrow any money, in its name or the Chargor’s
name or on behalf of the Chargor, from the Chargee or any person approved by
the Chargee in writing; and

	 	(ii)	 	to secure money raised or borrowed under clause 8.3(i) by
an Security Interest over any of the Secured Property, ranking in priority to,
equal with, or after, the Charge or any other Security;

	 	(h)	 	(maintain or improve Secured Property) to do anything to maintain, protect or
improve any of the Secured Property including, but not limited to, completing,
repairing, erecting a new improvement on, demolishing or altering any of the Secured
Property;

	 	(i)	 	(income and bank accounts) to do anything to manage or obtain income or
revenue from any of the Secured Property including, but not limited to, operating any
bank account which forms part of the Secured Property or opening and operating a new
bank account;

	 	(j)	 	(access to Secured Property) to have access to any of the Secured Property,
the premises at which the business of the Chargor is conducted and any of the
administrative services of the business of the Chargor;

	 	(k)	 	(insure Secured Property) to insure any of the Secured Property;

	 	(l)	 	(sever fixtures) to sever fixtures in respect of any of the Secured Property;

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	 	(m)	 	(compromise) to make or accept any compromise or arrangement;

	 	(n)	 	(surrender Secured Property) to surrender or transfer any of the Secured
Property to any person;

	 	(o)	 	(exchange Secured Property) to exchange with any person any of the Secured
Property for any other property whether of equal value or not;

	 	(p)	 	(employ or discharge) to employ or discharge any person as an employee,
contractor, agent, professional advisor or auctioneer for any of the purposes of this
Deed;

	 	(q)	 	(delegate) to delegate to any person any Power of the Receiver;

	 	(r)	 	(perform or enforce documents) to observe, perform, enforce, exercise or
refrain from exercising any right, power, authority, discretion or remedy of the
Chargor under, or otherwise obtain the benefit of:

	 	(i)	 	any document, agreement or right which attaches to or forms
part of the Secured Property; and

	 	(ii)	 	any document or agreement entered into in exercise of any
Power by the Receiver;

	 	(s)	 	(receipts) to give effectual receipts for all moneys and other assets which
may come into the hands of the Receiver;

	 	(t)	 	(take proceedings) to commence, discontinue, prosecute, defend, settle or
compromise in its name or the name or on behalf of the Chargor, any proceedings
including, but not limited to, proceedings in relation to any insurance in respect of
any of the Secured Property;

	 	(u)	 	(insolvency proceedings) to make any debtor bankrupt, wind-up any company,
corporation or other entity and do all things in relation to any bankruptcy or
winding-up which the Receiver thinks necessary or desirable including, but not limited
to, attending and voting at creditors’ meetings and appointing proxies for those
meetings;

	 	(v)	 	(execute documents) to enter into and execute any document or agreement in
the name of the Receiver or the name or on behalf of the Chargor including, but not
limited to, bills of exchange, cheques or promissory notes for any of the purposes of
this Deed;

	 	(w)	 	(make calls) to make calls on any member of the Chargor in respect of
uncalled capital of the Chargor;

	 	(x)	 	(vote) to exercise any voting rights or powers in respect of any part of the
Secured Property;

	 	(y)	 	(collect called capital) to collect or enforce payment of any called but
unpaid capital of the Chargor whether or not the calls were made by the Receiver;

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	 	(z)	 	(ability of Chargor) to do anything the Chargor could do in respect of the
Secured Property;

	 	(aa)	 	(lend) to lend money or provide financial accommodation;

	 	(bb)	 	(vary and terminate agreements) to vary, rescind or terminate any document or
agreement;

	 	(cc)	 	(promote companies) to promote the formation of companies with a view to
purchasing any of the Secured Property or assuming the obligations of the Chargor or
otherwise;

	 	(dd)	 	(other outgoings) to pay any outgoings or indebtedness of the Chargor or any
other person;

	 	(ee)	 	(Security Interests) to redeem any Security Interest or acquire it and any
debt secured by it;

	 	(ff)	 	(insurance claims) to make, enforce, compromise and settle all claims in
respect of insurance;

	 	(gg)	 	(Authorisation) to apply for, renew or obtain any necessary Authorisation;
and

	 	(hh)	 	(incidental power) to do anything necessary or incidental to the exercise of
any Power of the Receiver.

	8.4	 	Nature of Receiver’s Powers

	 	 	The Powers of the Receiver must be construed independently and no one Power limits the
generality of any other Power. Any dealing under any Power of the Receiver will be on the
terms and conditions the Receiver thinks fit.

	8.5	 	Status of Receiver after commencement of winding-up

	 	(a)	 	The power to appoint a Receiver under clause 8.1 may be exercised even if
at the time an Event of Default occurs or if at the time a Receiver is appointed, an
order has been made or a resolution has been passed for the winding-up of the Chargor.

	 	(b)	 	If for any reason, including, but not limited to operation of law, a
Receiver:

	 	(i)	 	appointed in the circumstances described in clause 8.5(a);
or

	 	(ii)	 	appointed at any other time,

	 	 	 	ceases to be the agent of the Chargor upon or by virtue of, or as a result of, an
order or a resolution being passed for the winding-up of the Chargor, then the
Receiver immediately becomes the agent of the Chargee.

	8.6	 	Powers exercisable by the Chargee

	 	(a)	 	Whether or not a Receiver is appointed under clause 8.1, the Chargee may,
on or after the occurrence of an Event of Default which is subsisting
and without giving

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	 	 	 	 notice to any person, exercise any Power of the Receiver in addition to any
Power of the Chargee.

	 	(b)	 	The exercise of any Power by any Enforcing Party does not cause or deem
such Enforcing Party:

	 	(i)	 	to be a mortgagee in possession;

	 	(ii)	 	to account as mortgagee in possession; or

	 	(iii)	 	to be answerable for any act or omission for which a
mortgagee in possession is liable.

	8.7	 	Set off

	 	 	Subject to the terms of the Loan Documents, after the occurrence of an Event of Default
which is subsisting, the Chargee is entitled to apply any credit balance in any of the
Chargor’s accounts with the Chargee in and towards satisfaction of any of the Secured
Moneys.
	 
	8.8	 	Notice of exercise of rights

	 	 	An Enforcing Party is not required:

	 	(a)	 	to give notice of the Charge or any other Security to any debtor or
creditor of the Chargor or to any other person;

	 	(b)	 	to enforce payment of any money payable to the Chargor including, but not
limited to, any of the debts or monetary liabilities charged by this Deed or by any
other Security; or

	 	(c)	 	to obtain the consent of the Chargor to any exercise of a Power.

	8.9	 	Termination of receivership and possession

	 	 	The Chargee may, at any time, terminate the appointment of a Receiver and may, at any time,
give up possession of the Secured Property of the Chargor.

	9	 	Application and receipts of money
	 
	9.1	 	Order of application

	 	(a)	 	Subject to the terms of the Loan Documents, at any time after this Charge
is enforceable, all money received by an Enforcing Party or any other person acting on
their behalf under this Deed may be appropriated and applied in the order set forth in
Section 7.05 of the Credit Agreement, to the extent not prohibited by law.

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	9.2	 	Amounts contingently due

	 	(a)	 	If, at the time of a distribution of any money under clause 9.1, any part
of the Secured Moneys is contingently owing, the Enforcing Party may retain an amount
equal to the amount contingently owing or any part of it.

	 	(b)	 	If an Enforcing Party retains any amount under clause 9.2(a), it must place
that amount on short-term interest bearing deposit until the amount contingently owing
becomes actually due and payable or otherwise ceases to be contingently owing at which time
the Enforcing Party must:

	 	(i)	 	pay to the Chargee the amount which has become actually due
to it; and

	 	(ii)	 	apply the balance of the amount retained, together with any
interest on the amount contingently owing, in accordance with clause 9.1.

	10	 	Power of attorney
	 
	10.1	 	Appointment of Attorney

	 	 	In consideration of the Chargee entering into this Deed to which it is expressed to be a
party, the Chargor irrevocably appoints each Enforcing Party and each Authorised Officer of
the Chargee severally its attorney for the purposes set out in clause 10.2.
	 
	10.2	 	Purposes of appointment

	 	 	Subject to the terms of the Loan Documents, an Attorney may, in its name or in the name of
the Chargor, Chargee or Receiver, at any time after the occurrence of an Event of Default
which is subsisting do any of the following:

	 	(a)	 	do any thing which can be done by the Chargor under or in connection with
this Deed except the Attorney may not amend the Loan Documents;

	 	(b)	 	exercise any right, power, authority, discretion or remedy of, or perform
any obligation of, the Chargor under:

	 	(i)	 	this Deed;

	 	(ii)	 	any of the Loan Documents; or

	 	(iii)	 	any agreement forming part of the Secured Property,

	 	 	 	except that, in each case, the Attorney may not amend the Loan Documents;

	 	(c)	 	do any thing which in the opinion of the Attorney is necessary or expedient
for securing or perfecting the Charge and any other Security except that the Attorney
may not amend the Loan Documents;

	 	(d)	 	execute in favour of the Chargee any legal mortgage, transfer, assignment
and any other assurance of any of the Secured Property of the Chargor;

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	 	(e)	 	execute deeds of assignment, composition or release;

	 	(f)	 	sell or otherwise part with the possession of any of the Secured Property
of the Chargor; and

	 	(g)	 	generally, do any other thing, whether or not of the same kind as those set
out in clauses 10.2(a) to 10.2(f), which in the opinion of the Attorney is necessary or
expedient:

	 	(i)	 	to more satisfactorily secure to the Chargee the payment of
the Secured Moneys; or

	 	(ii)	 	in relation to any of the Secured Property of the Chargor,
if the thing is of the same kind as that set out in clause 10.2(b) or 10.2(f).

	10.3	 	Delegation and substitution

	 	 	An Attorney may, at any time, for any of the purposes in clause 10.2, appoint or remove any
substitute or delegate or sub-attorney.

	11	 	Indemnities
	 
	11.1	 	Stamp duty indemnity

	 	(a)	 	The Chargor indemnifies each Enforcing Party and each of its officers,
employees and contractors (each an “Indemnified Party”) against any Loss which the
Chargee pays, suffers, incurs or is liable for in connection with:

	 	(i)	 	the stamping of, or any stamp duty payable on, any of the
following:

	 	(A)	 	the Charge;

	 	(B)	 	any agreement or document entered into or
signed under, or the performance or exercise of any right or obligation
under, this Charge; and

	 	(C)	 	any transaction contemplated under this
Charge or under any agreement or document described in clause
11.1(a)(i)(B);

	 	(ii)	 	any enquiry by a Government Agency (including any stamp
duty or state revenue office) in connection with the assessment for stamp duty
of any Loan Document;

	 	(iii)	 	any litigation or administrative proceedings (including
any objection made to a stamp duty or state revenue office) taken against or
involving the Indemnified Party in connection with the assessment for stamp
duty of the Loan Documents or transactions referred to therein; or

	 	(iv)	 	any future, or any change in any present or future, stamp
duty law or regulation or stamp duty or state revenue office practice (with
which, if not

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	 	 	 	having the force of law, compliance is in accordance with the
practice of responsible bankers and financial institutions in the jurisdiction
concerned),

	 	 	 	including any administration costs of an Indemnified Party in connection with the
matters referred to above, any legal costs and expenses and any professional
consultant’s fees for any of the above on a full indemnity basis.

	 	(b)	 	The Chargee must give notice to the Chargor as soon as it becomes aware of
any of the following events:

	 	(i)	 	any enquiry by a Government Agency referred to in clause
11.1(a)(ii) involving it; or

	 	(ii)	 	any litigation or administrative proceedings taken against
or involving it as contemplated by clause 11.1(a)(iii).

	 	(c)	 	The Chargee agrees, at the cost of the Chargor, to assist the Chargor in
responding to, and the Chargor’s participation in, any enquiry by a Government Agency
referred to in clause 11.1(a)(ii).

	11.2	 	Continuing indemnities and evidence of loss

	 	(a)	 	Each indemnity of the Chargor contained in this Charge is a continuing
obligation of the Chargor, despite:

	 	(i)	 	any settlement of account; or

	 	(ii)	 	the occurrence of any other thing,

	 	 	 	and remains in full force and effect until:

	 	(iii)	 	all moneys owing, contingently or otherwise, under any of
the Loan Documents have been paid in full to the satisfaction of the Chargee;

	 	(iv)	 	the Secured Moneys are paid in full to the satisfaction of
the Chargee; and

	 	(v)	 	each Security in respect of all the Secured Property
subject to each Security has been finally discharged.

	 	(b)	 	Each indemnity of the Chargor contained in a Loan Document is an
additional, separate and independent obligation of that Chargor and no one indemnity
limits the generality of any other indemnity.

	 	(c)	 	Each indemnity of the Chargor contained in this Charge survives the
termination of this Charge.

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	12	 	Taxes, costs and expenses
	 
	12.1	 	Taxes

	 	 	The Chargor:

	 	(a)	 	must pay or reimburse the Chargee on demand for any Tax, other than an
Excluded Tax in respect of the Chargee, in respect of the execution, delivery,
performance, release, discharge, amendment, enforcement or attempted enforcement or
otherwise in respect of any of the following:

	 	(i)	 	this Charge;

	 	(ii)	 	any agreement or document entered into or signed under this
Charge; and

	 	(iii)	 	any transaction contemplated under this Charge or any
agreement or document described in clause 12.1(a)(ii);

	 	(b)	 	must pay any fine, penalty or other cost in respect of a failure to pay any
Tax described in clause 12.1(a) except to the extent that the fine, penalty or other
cost is caused by the Chargee’s failure to lodge money or documents received from that
party within 10 Business Days before the due date for lodgement; and

	 	(c)	 	indemnifies the Chargee against any amount payable under clause 12.1(a) or
12.1(b) or both.

	12.2	 	GST

	 	(a)	 	Terms defined in the A New Tax System (Goods and Services Tax) Act 1999
(Cth) have the same meaning in this clause 12.2 unless provided otherwise.

	 	(b)	 	Notwithstanding any other provision of this Charge, in the event that the
Chargee must pay any GST on any supply made by it to the Chargor under or in connection
with this Charge, the Chargee may, in addition to any amount or consideration payable
under this Charge, recover from the Chargor an additional amount on account of that
GST, such amount to be calculated by multiplying the relevant amount or consideration
payable by the recipient for the relevant supply by the prevailing GST rate.

	 	(c)	 	Notwithstanding any other provisions of this Charge, in the event that the
Chargee must pay any GST in relation to a Taxable Supply that is made to it under or in
connection with this Charge, the Chargee may in addition to any other amounts, recover
from the Chargor that GST less the amount of any input tax credit to which the
indemnitee is entitled in respect of that payment.

	 	(d)	 	The Chargee must issue a tax invoice to the recipient of a supply referred
to in clause 12.2(b) no later than 10 Business Days after payment by the recipient of
the GST inclusive consideration for that supply.

	 	(e)	 	Any additional amount on account of GST recoverable from the Chargor
pursuant to clause 12.2(b) or clause 12.2(c) shall be calculated without any deduction
or set off

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	 		 	of any other amount and is payable by the Chargor upon demand by the Chargee
whether such demand is by means of an invoice or otherwise.

	13	 	Protection
	 
	13.1	 	Protection of third parties

	 	(a)	 	No person dealing with an Enforcing Party is:

	 	(i)	 	bound to enquire whether:

	 	(A)	 	the Charge of the Chargor has become
enforceable;

	 	(B)	 	an Enforcing Party is duly appointed; or

	 	(C)	 	any Power has been properly or regularly
exercised; or

	 	(ii)	 	affected by express notice that the exercise of any Power
was unnecessary or improper.

	 	(b)	 	The irregular or improper exercise of any Power is, as regards the
protection of any person, regarded as authorised by the Chargor and this Deed, and is
valid.

	13.2	 	Protection of Enforcing Party

	 	(a)	 	An Enforcing Party is not liable for any Loss including, but not limited
to, consequential Loss arising directly or indirectly from:

	 	(i)	 	any omission or delay in the exercise or non-exercise of
any Power; or

	 	(ii)	 	the neglect, default or dishonesty of any manager,
Authorised Officer, employee, agent, accountant, auctioneer or solicitor of the
Chargor or any Enforcing Party.

	 	(b)	 	Clause 13.2(a) does not apply in respect of an Enforcing Party, to any Loss
which arises from the wilful default, fraud, gross negligence or illegal acts of that
Enforcing Party or its manager, Authorised Officers, employees, agents, accountants,
auctioneers or solicitors.

	14	 	Third party provisions
	 
	14.1	 	Independent obligations

	 	 	Subject to the terms of the Loan Documents, this Deed is enforceable against the Chargor:

	 	(a)	 	without the Chargee first enforcing any other Security;

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	 	(b)	 	whether or not the Chargee has:

	 	(i)	 	made demand upon the Chargor;

	 	(ii)	 	given notice to the Chargor or any other person in respect
of anything; or

	 	(iii)	 	taken any other steps against the Chargor or any other
person; and

	 	(c)	 	despite the occurrence of any event described in clause 14.2.

	14.2	 	Unconditional nature of obligations

	 	(a)	 	The Charge and the obligations of the Chargor under this Deed are absolute,
binding and unconditional in all circumstances.

	 	(b)	 	This Deed and the obligations of the Chargor under this Deed are not
released, discharged or otherwise affected by anything which but for this provision
might have that effect, including but not limited to:

	 	(i)	 	the grant to any person of any time, waiver, covenant not
to sue or other indulgence;

	 	(ii)	 	the release (including a release as part of any novation)
or discharge of any person;

	 	(iii)	 	the cessation of the obligations, in whole or in part, of
any person under any Loan Document or any other document or agreement;

	 	(iv)	 	the liquidation of any person;

	 	(v)	 	any arrangement, composition or compromise entered into by
the Chargee or any person;

	 	(vi)	 	any Loan Document or any other document or agreement being
in whole or in part illegal, void, voidable, avoided, unenforceable or
otherwise of limited force or effect;

	 	(vii)	 	any extinguishment, failure, loss, release, discharge,
abandonment, impairment, compound, composition or compromise, in whole or in
part, of any Loan Document or any other document or agreement;

	 	(viii)	 	any Security Interest being given to the Chargee by any person;

	 	(ix)	 	any alteration, amendment, variation, supplement, renewal
or replacement of any Loan Document or any other document or agreement;

	 	(x)	 	any moratorium or other suspension of any Power;

	 	(xi)	 	any Enforcing Party exercising or enforcing, delaying or
refraining from exercising or enforcing, or being not entitled or unable to
exercise or enforce, any Power;

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	 	(xii)	 	any Enforcing Party obtaining a judgment against any
person for the payment of any of the Secured Moneys;

	 	(xiii)	 	any transaction, agreement or arrangement that may take place with the
Chargee or any other person including the execution of a Loan Document;

	 	(xiv)	 	any payment to any Enforcing Party, including any payment
which at the payment date or at any time after the payment date is, in whole or
in part, illegal, void, voidable, avoided or unenforceable;

	 	(xv)	 	any failure to give effective notice to any person of any
default under any Loan Document or any other document or agreement;

	 	(xvi)	 	any legal limitation, disability or incapacity of any
person;

	 	(xvii)	 	any breach of any Loan Document or any other document or agreement;

	 	(xviii)	 	the acceptance of the repudiation of, or termination of, any Loan
Document or any other document or agreement;

	 	(xix)	 	any Secured Moneys being irrecoverable for any reason;

	 	(xx)	 	any disclaimer by any person of any Loan Document or any
other document or agreement;

	 	(xxi)	 	any assignment, novation, assumption or transfer of, or
other dealing with, any Powers or any other rights or obligations under any
Loan Document or any other document or agreement;

	 	(xxii)	 	the opening of a new account of any person (whether alone or with others)
with the Chargee or any other person or any transaction on or relating to the
new account;

	 	(xxiii)	 	any prejudice (including material prejudice) to any person as a result
of:

	 	(A)	 	any thing done, or omitted to be done, by
the Chargor, any other Enforcing Party or any person;

	 	(B)	 	any Enforcing Party or any other person
selling or realising any property the subject of the Charge at less
than the best price;

	 	(C)	 	any failure or neglect by any Enforcing
Party or any other person to recover the Secured Moneys from any person
or by the realisation of any property the subject of the Charge; or

	 	(D)	 	any other thing;

	 	(xxiv)	 	the receipt by the Chargee of any dividend, distribution or other payment
in respect of any liquidation;

	 	(xxv)	 	the capacity in which the Chargor executed a Loan Document
not being the capacity disclosed to the Chargee before the execution of the
Loan Document;

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	 	(xxvi)	 	any other act, omission, matter or thing whatsoever, whether negligent or
not:

	 	(A)	 	any Loan Document or any other document or
agreement not being valid or executed by, or binding on, any person;
and

	 	(B)	 	any increase in the Secured Moneys for any
reason (including as a result of anything referred to above).

	 	(c)	 	Clauses 14.2(a) and 14.2(b) apply irrespective of:

	 	(i)	 	the consent or knowledge or lack of consent or knowledge,
of the Chargee, any person of any event described in clause 14.2(b); or

	 	(ii)	 	any rule of law or equity to the contrary.

	14.3	 	No competition

	 	(a)	 	Until the Secured Moneys have been Finally Paid to the satisfaction of the
Chargee and the Securities have been discharged, the Chargor is not entitled to:

	 	(i)	 	be subrogated to the Chargee;

	 	(ii)	 	claim or receive the benefit of:

	 	(A)	 	any Security Interest, guarantee (including
any Loan Document) or other document or agreement of which the Chargee
has the benefit;

	 	(B)	 	any moneys held by the Chargee; or

	 	(C)	 	any Power;

	 	(iii)	 	raise any defence or counterclaim in reduction or
discharge of its obligations under the Loan Documents; or

	 	(b)	 	raise any defence or counterclaim in reduction or discharge of its
obligations under the Loan Documents. The Chargor must not do or seek, attempt or
purport to do anything referred to in clause 14.3.

	15	 	Saving provisions
	 
	15.1	 	Amounts payable on demand

	 	 	If any amount payable by the Chargor under this Deed is not expressed to be payable on a
specified date or within a specified time period that amount is payable by the Chargor
promptly upon request by the Chargee.

	15.2	 	Statutory powers

	 	(a)	 	The powers of the Chargee under this Deed are in addition to any powers the
Chargee has under applicable law.

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	 	(b)	 	Subject to the terms of the Loan Documents, to the extent not prohibited by
law, before enforcing the Charge, or exercising any Power, an Enforcing Party is not
required to give any notice or allow the expiration of any time to any person.

	15.3	 	Continuing security

	 	 	The Charge is a continuing security notwithstanding any settlement of account or any other
thing until the Chargee has given a discharge of the Charge in respect of all the Secured
Property under clause 3.

	15.4	 	No merger of security

	 	(a)	 	Nothing in this Deed merges, extinguishes, postpones, lessens or otherwise
prejudicially affects:

	 	(i)	 	any Security Interest in favour of the Chargee at any time;

	 	(ii)	 	any indemnity in favour of the Chargee contained in any
Loan Document; or

	 	(iii)	 	any right, power, authority, discretion or remedy which
the Chargee may have against the Chargor or any other person at any time.

	 	(b)	 	No other Security Interest including, but not limited to, any Security
Interest held by the Chargee in any way prejudicially affects any right, power,
authority, discretion or remedy of the Chargee under this Deed.

	15.5	 	Exclusion of moratorium

	 	 	To the extent not excluded by law, a provision of any legislation which at any time directly
or indirectly:

	 	(a)	 	lessens or otherwise varies or affects in favour of the Chargor any
obligations under this Deed; or

	 	(b)	 	stays, postpones or otherwise prevents or prejudicially affects the
exercise of any Power,

	 	 	is negatived and excluded from this Deed and all relief and protection conferred on the
Chargor by or under that legislation is also negatived and excluded so far as is permitted
by law.

	15.6	 	Conflict

	 	 	Where any Power of an Enforcing Party under this Deed or any other Security is inconsistent
with the powers conferred by applicable law then, to the extent not prohibited by that law,
the powers conferred by applicable law are regarded as negatived or varied to the extent of
the inconsistency.

	15.7	 	Completion of blank securities

	 	 	Subject to the terms of the Loan Documents, at any time after the Charge has become
enforceable, the Enforcing Party or any Authorised Officer of the Chargee may complete, in
favour of the Chargee, any appointee of the Chargee or any purchaser, any instrument

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	 	 	executed in blank by or on behalf of the Chargor and deposited with the Chargee as security
under this Deed.

	15.8	 	Principal obligations

	 	 	This Deed is:

	 	(a)	 	a principal obligation and is not ancillary or collateral to any other
Security Interest (other than a Permitted Security Interest) or other obligation
however created; and

	 	(b)	 	independent of, and unaffected by, any other Security Interest or other
obligation however created which the Chargee may hold at any time in respect of the
Secured Moneys.

	15.9	 	No obligation to marshal

	 	(a)	 	The doctrine of marshalling does not apply to the Chargee or the Chargor or
in relation to the exercise of any Power.

	 	(b)	 	The Chargee is not required before or after it enforces the Charge:

	 	(i)	 	to enforce any Security Interest held, at any time, by the
Chargee; or

	 	(ii)	 	to appropriate or recover any moneys or assets that the
Chargee, at any time, holds or is entitled to receive.

	15.10	 	Certificates

	 	 	A certificate signed by an Authorised Officer of the Chargee stating:

	 	(a)	 	the amount of the Secured Moneys due and payable; or

	 	(b)	 	the amount of the Secured Moneys, whether currently due and payable or not,

	 	 	is conclusive evidence of that amount at the date stated on the certificate or failing that
as at the date of that certificate unless the contrary is proved.

	15.11	 	Chargee’s receipts

	 	(a)	 	The receipt of any Authorised Officer of the Chargee for any money payable
to or received by the Chargee under this Deed exonerates the payer from all Liability
to enquire whether any of the Secured Moneys has become due and payable.

	 	(b)	 	Every receipt of an officer of the Chargee effectually discharges the payer
from:

	 	(i)	 	any future Liability to pay the amount specified in the
receipt; and

	 	(ii)	 	being concerned to see the application of, or being
answerable or accountable for any loss or misapplication of, the amount
specified in the receipt.

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	16	 	Reinstatement of rights

	 	 	If, under any law relating to insolvency, a person claims that a transaction
(including a payment) in connection with this Charge or the Secured Moneys is void or
voidable and the claim is upheld, conceded or comprised, then:

	 	(a)	 	the Chargee is immediately entitled as against the Chargor to the rights in
respect of the Secured Moneys to which they were entitled immediately before the
transaction; and

	 	(b)	 	on request from the Chargee, the Chargor agrees to do anything (including
signing any document) to restore to the Chargee, any Security Interest (including this
Charge) held by it from the Chargor on account of the Secured Moneys immediately before
the transaction.

	17	 	Notices

	 	 	Section 9.01 of the Credit Agreement will apply with respect to all notices,
requests, demands, consents, approvals, offers, agreements or other communications
(“notices”) given by a party under or in connection with this Deed, and the address for service for all
notices to the Chargor shall be given to it care of the Borrowers.

	18	 	PPS Act
	 
	18.1	 	PPS Act

	 	 	Without limiting clause 5.3, the Chargor agrees to make such amendments to the Loan
Documents (to which it is a party), and to do such other things, as the Chargee may require
from time to time (whether before or after the registration commencement time) to:

	 	(a)	 	ensure that any security interest granted to the Chargee is a first-ranking
perfected security interest over all PPS property (except to the extent otherwise
agreed in writing by the Chargee);

	 	(b)	 	ensure that any security interest granted to the Chargee is perfected by
control to the extent possible under the PPS Act; and

	 	(c)	 	otherwise protect the Chargee’s position under any security interest in the
context of the PPS Act.

	18.2	 	Definitions

	 	 	In this clause 18:

	 	(a)	 	PPS Act means the Personal Property Securities Act 2009 (Cth);

	 	(b)	 	PPS property means all property over which the Chargor is legally capable
under the PPS Act of granting a security interest; and

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	 	(c)	 	terms have the meanings given to them in the PPS Act.

	18.3	 	Further actions

	 	 	The Chargee may, at the Chargor’s cost, do anything which that Chargor should have done
under this Deed if the Chargor does not do so within the time period specified, or if none
specified, promptly; or if in the Chargee’s reasonable opinion, the Chargor does not do so
properly.

	19	 	General
	 
	19.1	 	Governing law and jurisdiction

	 	(a)	 	This Deed is governed by the laws of Victoria.

	 	(b)	 	The Chargor irrevocably submits to the non-exclusive jurisdiction of the
courts of Victoria.

	 	(c)	 	The Chargor irrevocably waives any objection to the venue of any legal
process on the basis that the process has been brought in an inconvenient forum.

	 	(d)	 	The Chargor irrevocably waives any immunity in respect of its obligations
under this Deed that it may acquire from the jurisdiction of any court or any legal
process for any reason including, but not limited to, the service of notice, attachment
before judgment, attachment in aid of execution or execution.

	19.2	 	Waivers

	 	(a)	 	Waiver of any right arising from a breach of this Deed or of any Power
arising upon default under this Deed or upon the occurrence of an Event of Default must
be in writing and signed by the party granting the waiver.

	 	(b)	 	A failure or delay in exercise, or partial exercise, by the Chargee or any
other Enforcing Party of:

	 	(i)	 	a right arising from a breach of this Deed or the
occurrence of an Event of Default; or

	 	(ii)	 	a Power created or arising upon default under this Deed or
upon the occurrence of an Event of Default,

     does not result in a waiver of that right or Power.

	 	(c)	 	The Chargor is not entitled to rely on a delay in the exercise or
non-exercise of a right or Power arising from a breach of this Deed or on a default
under this Deed or on the occurrence of an Event of Default as constituting a waiver of
that right or Power.

	 	(d)	 	The Chargor may not rely on any conduct of an Enforcing Party as a defence
to exercise of a right or Power by that Enforcing Party.

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	 	(e)	 	This clause may not itself be waived except by writing.

	19.3	 	Variation

	 	 	A variation of any term of this Deed must be in writing and signed by the parties.

	19.4	 	Cumulative rights

	 	 	The Powers are cumulative and do not exclude any other right, power, authority, discretion
or remedy of any Enforcing Party.

	19.5	 	Assignment

	 	(a)	 	The Chargee may assign its rights under this Deed without the consent of
the Chargor.

	 	(b)	 	The Chargor may not assign any of its rights under this Deed without the
prior written consent of the Chargee.

	19.6	 	Attorneys

	 	 	Each of the attorneys executing this Deed states that the attorney has no notice of the
revocation of the power of attorney appointing that attorney.

	19.7	 	Electronic delivery of document

	 	 	If a party delivers an executed counterpart of this Deed or any other document executed in
connection with it (“Relevant Document”) by facsimile or other electronic means:

	 	(a)	 	the delivery will be deemed to be an effective delivery of an originally
executed counterpart; and

	 	(b)	 	the party will still be obliged to deliver an originally executed
counterpart, but the failure to do so will not effect the validity or effectiveness of
the Relevant Document.

	19.8	 	Counterparts

	 	 	This Deed may be executed in any number of counterparts and all counterparts taken together
shall constitute one and the same instrument.

	19.9	 	Inconsistency

	 	 	In the event there is any inconsistency between:

	 	(a)	 	the provisions of this Deed; and

	 	(b)	 	the provisions of the Credit Agreement,

	 	 	the provisions of the Credit Agreement prevail to the extent of the inconsistency.

Exhibit F-3 — Form of Australian Security Agreement

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EXECUTED as a DEED

	 	 	 	 	 	 	 	 	 

	SIGNED, SEALED AND DELIVERED by

	 	 	)	 	 	 	 	 
		 	 	)	 	 	 	 	 
		 	 	)	 	 	 	 	 
	as attorney for PTI HOLDING COMPANY 1

	 	 	)	 	 	 	 	 
	PTY LIMITED ACN 146 700 441 under

	 	 	)	 	 	 	 	 
	power of attorney dated

	 	 	)	 	 	

	 	 
		 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 
	in the presence of:

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 
	
 

Signature of witness

	 	 	)	 	 	 
By executing this deed the attorney states that the attorney has received no notice of revocation of the power of attorney	 	 
	 
Name of witness (block letters)

	 	 		 	 	 

 Exhibit F-3 — Form of Australian Security Agreement

 Page 38

 

ROYAL BANK OF CANADA, in its capacity as 

 the
Canadian administrative agent and 

Canadian
collateral agent for and on behalf of 

the
Canadian Secured Parties

	 	 	 	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

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 Page 39

 

PTI Holding Company 2 Pty Limited

ACN 146 700 487

and

Royal Bank of Canada

Fixed and floating charge

Arnold Bloch Leibler

Ref: BNM 011562615

Exhibit F-3 — Form of Australian Security Agreement

Page 40

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page no.	 
	1 DEFINITIONS AND INTERPRETATION
	 	 	43	 
	1.1 Definitions
	 	 	43	 
	1.2 Incorporated definitions
	 	 	48	 
	1.3 Interpretation
	 	 	48	 
	1.4 Benefit of Charge
	 	 	50	 
	1.5 Capacity of Collateral Agent
	 	 	50	 
	2 CHARGE
	 	 	50	 
	2.1 Charge
	 	 	50	 
	2.2 Priority
	 	 	50	 
	2.3 Nature of Charge
	 	 	50	 
	2.4 Crystallisation
	 	 	51	 
	2.5 De-crystallisation
	 	 	52	 
	2.6 Prospective liability
	 	 	52	 
	3 DISCHARGE OF THE CHARGE
	 	 	52	 
	4 REPRESENTATIONS AND WARRANTIES
	 	 	53	 
	4.1 Representations and warranties
	 	 	53	 
	4.2 Reliance
	 	 	53	 
	5 UNDERTAKINGS OF CHARGOR
	 	 	53	 
	5.1 Performance under the Loan Documents
	 	 	53	 
	5.2 Secured Property
	 	 	53	 
	5.3 Further security
	 	 	54	 
	5.4 Title Documents
	 	 	54	 
	5.5 Registration and protection of security
	 	 	55	 
	5.6 Negative pledge
	 	 	55	 
	5.7 Restricted dealings — property subject to fixed charge
	 	 	56	 
	5.8 Restricted dealings — property subject to floating charge
	 	 	56	 
	5.9 Marketable Securities
	 	 	56	 
	5.10 No caveats
	 	 	56	 
	5.11 Term of undertakings
	 	 	56	 
	6 DEFAULT
	 	 	56	 
	6.1 Events of Default
	 	 	56	 
	6.2 Ensure no default
	 	 	57	 
	7 ENFORCEMENT
	 	 	57	 
	7.1 When enforceable
	 	 	57	 
	7.2 Assistance in realisation
	 	 	57	 
	8 RECEIVER
	 	 	58	 
	8.1 Appointment of Receiver
	 	 	58	 
	8.2 Agency of Receiver
	 	 	58	 
	8.3 Powers of Receiver
	 	 	58	 
	8.4 Nature of Receiver’s Powers
	 	 	61	 
	8.5 Status of Receiver after commencement of winding-up
	 	 	61	 
	8.6 Powers exercisable by the Chargee
	 	 	61	 
	8.7 Set off
	 	 	62	 
	8.8 Notice of exercise of rights
	 	 	62	 
	8.9 Termination of receivership and possession
	 	 	62	 
	9 APPLICATION AND RECEIPTS OF MONEY
	 	 	62	 
	9.1 Order of application
	 	 	62	 
	9.2 Amounts contingently due
	 	 	62	 

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	 	 	Page no.	 
	10 POWER OF ATTORNEY
	 	 	63	 
	10.1 Appointment of Attorney
	 	 	63	 
	10.2 Purposes of appointment
	 	 	63	 
	10.3 Delegation and substitution
	 	 	64	 
	11 INDEMNITIES
	 	 	64	 
	11.1 Stamp duty indemnity
	 	 	64	 
	11.2 Continuing indemnities and evidence of loss
	 	 	65	 
	12 TAXES, COSTS AND EXPENSES
	 	 	65	 
	12.1 Taxes
	 	 	65	 
	12.2 GST
	 	 	66	 
	13 PROTECTION
	 	 	66	 
	13.1 Protection of third parties
	 	 	66	 
	13.2 Protection of Enforcing Party
	 	 	67	 
	14 THIRD PARTY PROVISIONS
	 	 	67	 
	14.1 Independent obligations
	 	 	67	 
	14.2 Unconditional nature of obligations
	 	 	67	 
	14.3 No competition
	 	 	69	 
	15 SAVING PROVISIONS
	 	 	70	 
	15.1 Amounts payable on demand
	 	 	70	 
	15.2 Statutory powers
	 	 	70	 
	15.3 Continuing security
	 	 	70	 
	15.4 No merger of security
	 	 	70	 
	15.5 Exclusion of moratorium
	 	 	71	 
	15.6 Conflict
	 	 	71	 
	15.7 Completion of blank securities
	 	 	71	 
	15.8 Principal obligations
	 	 	71	 
	15.9 No obligation to marshal
	 	 	71	 
	15.10 Certificates
	 	 	72	 
	15.11 Chargee’s receipts
	 	 	72	 
	16 REINSTATEMENT OF RIGHTS
	 	 	72	 
	17 NOTICES
	 	 	72	 
	18 PPS ACT
	 	 	73	 
	18.1 PPS Act
	 	 	73	 
	18.2 Definitions
	 	 	73	 
	18.3 Further actions
	 	 	73	 
	19 GENERAL
	 	 	73	 
	19.1 Governing law and jurisdiction
	 	 	73	 
	19.2 Waivers
	 	 	74	 
	19.3 Variation
	 	 	74	 
	19.4 Cumulative rights
	 	 	74	 
	19.5 Assignment
	 	 	74	 
	19.6 Attorneys
	 	 	74	 
	19.7 Electronic delivery of document
	 	 	75	 
	19.8 Counterparts
	 	 	75	 

Exhibit F-3 — Form of Australian Security Agreement

Page 42

 

			
	THIS DEED is made on
	 	2010

PARTIES

	 	 	PTI HOLDING COMPANY 1 PTY LIMITED

	 	 	ACN 146 700 441

	 	 	(“Chargor”)

	 	 	and

	 	 	ROYAL BANK OF CANADA

	 	 	in its capacity as the Canadian collateral agent for and on behalf of the Canadian Secured
Parties

  of Level 46, 2 Park Street, Sydney NSW 2000

	 	 	(“Chargee”)

BACKGROUND

	A	 	The Canadian Secured Parties have agreed to enter into the
Credit Agreement and certain other Loan Documents.
	 
	B	 	The Chargor is the legal and beneficial owner the Secured Property.
	 
	C	 	In consideration of the Canadian Secured Parties agreeing to enter into
the documents referred to in paragraph (A) above, the Chargor has agreed to
charge the Secured Property to the Chargee to secure payment of the Secured
Moneys.

AGREED TERMS

	1	 	Definitions and interpretation
	 
	1.1	 	Definitions

	 
		 	
In this Deed, unless the context requires otherwise:
	 
	 	 	“Attorney” means an attorney appointed pursuant to this Deed.

	 	 	“Authorisation” includes:

	 	(a)	 	any consent, authorisation, registration, filing, agreement, notarisation,
certificate, permission licence, approval or exemption from by or with a Government
Agency; or

	 	(b)	 	in relation to anything which is prohibited or restricted by law if a
Government Agency takes certain action within a specified period, the expiry of that
period without the Government Agency taking that action.

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     “Authorised Officer” means, in relation to a party:

	 	(a)	 	a company director or company secretary of that party or any person whose
title of office includes the words “Director”, “Manager” or other similar expression;

	 	(b)	 	any person acting in any such office; or

	 	(c)	 	any person nominated by that party as an authorised officer by notice in
writing to the other parties (the notice to be signed by a company director or company
secretary of the notifying party and accompanied by a certified copy of the signature
of the nominated person).

     “Business Day” means a day on which banks are open for general banking business in
Melbourne, excluding Saturdays, Sundays and public holidays.

     “Canadian Borrowers” means PTI Group Inc., a corporation amalgamated under the laws of
the Province of Alberta and PTI Premium Camp Services Ltd., a corporation amalgamated under
the laws of the Province of Alberta.

     “Canadian Secured Parties” has, for the avoidance of doubt, the meaning given to the
term “Secured Parties” in the Canadian Security Agreement.

	 	 	“Charge” means each security created by this Deed.

     “Controller” means, in relation to a person’s property:

	 	(a)	 	a receiver or receiver and manager of that property; or

	 	(b)	 	anyone else who (whether or not as agent for the person) is in possession,
or has control of that property to enforce a Security Interest.

     “Corporations Act” means the Corporations Act 2001 (Cth).

“Credit Agreement” means the Amended and Restated Credit Agreement dated on or about the
date of this Deed between Oil States International Inc., the Canadian Borrowers, Wells Fargo
Bank, N.A. as U.S. administrative agent and U.S. collateral agent, the Lenders, the Chargee
and others.

“Deed” means this deed of charge.

“Enforcing Party” means the Chargee or any Receiver, agent, administrator, Attorney or
Controller appointed under this Deed or any applicable law.

     “Event of Default” mean any event specified in clause 6.1.

     “Excluded Property” means:

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	 	(a)	 	all rights, property and undertaking held by the Chargor at the date on
which this charge is first signed and sealed by any party to it and which are located
or taken to be located in New South Wales;

	 	(b)	 	land or interests in land (other than interests held by way of security)
located or taken to be located in New South Wales and which are acquired by the Chargor
at any time within 12 months of the date on which this charge is first signed and
sealed by any party to it;

	 	(c)	 	any rights, property and undertaking identified in New South Wales under an
arrangement in place when this charge was first signed and sealed by any party to it;
and

	 	(d)	 	any Marketable Securities that are or may in the future be held by the
Chargor in respect of The MAC Services Group Limited ACN 003 657 510 and any rights or
interests in relation thereto.

“Excluded Tax” means a Tax imposed on the overall net income of the Chargee or the Canadian
Secured Parties.

“Finally Paid” means, in respect of the Secured Moneys, payment or satisfaction of it in
full.

“Financial Indebtedness” means any actual or contingent debt or other monetary liability
arising in respect of money borrowed or raised or any financial accommodation provided.

     “Government Agency” means:

	 	(a)	 	a government or government department;

	 	(b)	 	a governmental, semi-governmental, regulatory or judicial entity or
authority; or

	 	(c)	 	a person (whether autonomous or not) who is charged with the administration
of a law.

“Insolvency Event” means the occurrence of any of the following events in relation to any
person:

	 	(d)	 	the person becomes insolvent as defined in the Corporations Act, states
that it is insolvent or is presumed to be insolvent under an applicable law;

	 	(e)	 	the person is wound up, dissolved or declared bankrupt;

	 	(f)	 	the person becomes an insolvent under administration as defined in the
Corporations Act;

	 	(g)	 	a liquidator, provisional liquidator, Controller, administrator, trustee
for creditors, trustee in bankruptcy or other similar person is appointed to, or takes
possession or control of, any or all of the person’s assets or undertaking;

	 	(h)	 	the person enters into or becomes subject to:

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	 	(i)	 	any arrangement or composition with one or more of its
creditors or any assignment for the benefit of one or more of its creditors; or

	 	(ii)	 	any re-organisation, moratorium, deed of company
arrangement or other administration involving one or more of its creditors;

	 	(i)	 	an application or order is made (and, in the case of an application, it is
not stayed, withdrawn or dismissed within 30 days), resolution passed, proposal put
forward, or any other action taken which is preparatory to or could result in any of
(b), (c), (d) or (e) above;

	 	(j)	 	the person is taken, under section 459F(1) of the Corporations Act, to have
failed to comply with a statutory demand;

	 	(k)	 	the person becomes unable to pay its debts when they fall due; or

	 	(l)	 	anything occurs under the law of any jurisdiction which has a substantially
similar effect to any of the other paragraphs of this definition,

unless the event occurs as part of a solvent reconstruction, amalgamation, merger or
consolidation that has been approved in writing by the Chargee and “Insolvency” shall be
construed accordingly.

“Intellectual Property Rights” includes any patent, design, trade mark, copyright, trade
secret, confidential information and any right to use, or to grant the use of, or to be the
registered owner or user of, any of them.

“Liability” means any debt or other monetary liability or penalty, fine or payment or any
damages, Losses, costs, charges, outgoings or expenses of whatever description.

“Loans” means:

	 	(a)	 	the Canadian Revolving Credit Loan or a Canadian Term Loan made pursuant to
the Credit Agreement; and

	 	(b)	 	any Canadian Letters of Credit issued to or for the account of the Canadian
Borrowers.

“Loss” means a loss, claim action, damage, Liability, compensation, outgoing or payment
suffered, paid or incurred.

“Marketable Securities” has the meaning given to that expression in the Corporations Act but
also includes:

	 	(a)	 	an undertaking referred to in the exceptions in paragraph (a), (b) and (d)
of the definition of debenture in the Corporations Act 2001;

	 	(b)	 	a unit or other interest in a trust or partnership;

	 	(c)	 	a negotiable instrument; and

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	 	(d)	 	a right or an option in respect of a Marketable Security, whether issued or
unissued including any of the above.

“Permitted Security Interest” means, in relation to the Chargor:

	 	(a)	 	this Charge;

	 	(b)	 	a Security Interest over the Chargor’s assets to which the Chargee has
consented with the consent of the Lenders required by the terms of the Credit
Agreement. It does not include a Security Interest to which the Chargee has consented
on one or more conditions if those conditions are not complied with;

	 	(c)	 	a lien or charge arising by operation of law to the ordinary course of the
person’s ordinary business. It does not include a lien or charge that secures overdue
debts; and

	 	(d)	 	any Liens that are permitted to be incurred, assumed, created or permitted
to exist in respect of the Chargor pursuant to Sections 6.02(a) to 6.02(m) (inclusive)
of the Credit Agreement.

“Power” means any right, power, authority, discretion, opinion or remedy conferred on an
Enforcing Party by this Deed or any applicable law.

“Receiver” means a receiver or receiver and manager appointed under this Deed.

“Release” means any of release, compromise, discharge, set off, disclaimer, abandonment,
alienation, abrogation, suspension, moratorium or other like action.

“Secured Property” means all of the present and future undertaking, assets and rights of the
Chargor including, but not limited to, all real and personal property, choses in action,
goodwill, uncalled and called but unpaid normal or premium capital but excluding the
Excluded Property.

“Secured Moneys” means all money which a Canadian Borrower is or at any time may become
actually or contingently liable to pay to or for the account of a Canadian Secured Party for
any reason whatsoever under or in connection with:

	 	(a)	 	the Loans, whether or not currently contemplated (including by way of
principal, interest, fees, costs, indemnity, Guarantee, charges, duties or expenses, or
payment of liquidated or unliquidated damages under or in connection with the Loans, or
as a result of a breach of or default under or in connection with the Loans);

	 	(b)	 	each Hedging Agreement entered into with a counterparty that was a Canadian
Lender (or an affiliate of a Canadian Lender) at the time such Hedging Agreement was
entered into;

	 	(c)	 	any and all obligations whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired (including all renewals, extensions
and modifications thereof and substitutions therefor) in connection with Banking
Services; and

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	 	(d)	 	all other monetary liabilities by way of principal, interest, fees, costs,
indemnity, Guarantee, charges, duties or expenses, or payment of liquidated or
unliquidated damages under or in connection with the Loan Documents, or as a result of
a breach of or default under or in connection with, the Loan Documents.

It also includes money that the Canadian Borrowers would have been liable to pay but for its
Insolvency, or some other reason.

“Security Interest” means any mortgage, lien, hypothecation, charge (whether fixed or
floating), pledge or other form of security interest securing any obligation of any person
or any other agreement or arrangement having a similar effect.

“Tax” means any tax, levy, impost, duty, charge, deduction, compulsory loan or withholding
of whatever kind (together with any related interest, penalty, fine or expense) that is
imposed by law or any Government Agency.

“Title Document” means any present or future original, duplicate or counterpart:

	 	(a)	 	certificate or document of title;

	 	(b)	 	certificate or document relating to title; or

	 	(c)	 	certificate or document relating to use, possession, disposition,
devolution or acquisition of property.

1.2 Incorporated definitions

	 	 	A word or phrase (other than one defined in clause 1.1) defined in the Credit Agreement has
the same meaning in this Deed.

1.3 Interpretation

	 	 	In this document, unless the context requires otherwise:

	 	(a)	 	the singular includes the plural and vice versa;

	 	(b)	 	words denoting any gender include all genders;

	 	(c)	 	where a word or phrase is defined, its other grammatical forms have a
corresponding meaning;

	 	(d)	 	a reference to a party, clause, paragraph, schedule or annexure is a
reference to a party, clause, paragraph, schedule or annexure to or of this document;

	 	(e)	 	a reference to this document includes any schedules or annexures;

	 	(f)	 	headings are for convenience and do not affect interpretation;

	 	(g)	 	the background or recitals to this document are adopted as and form part of
this document;

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	 	(h)	 	a reference to any document or agreement includes a reference to that
document or agreement as amended, novated, supplemented, varied or replaced from time
to time;

	 	(i)	 	a reference to “$”, “A$” or “dollar” is a reference to Australian currency;

	 	(j)	 	a reference to a time is a reference to Australian Eastern Standard Time or
Australian Eastern Daylight Time, whichever is appropriate;

	 	(k)	 	a reference to a party includes its executors, administrators, successors,
substitutes (including persons taking by novation) and permitted assigns;

	 	(l)	 	a reference to writing includes any method of representing words, figures
or symbols in a permanent and visible form;

	 	(m)	 	words and expressions denoting natural persons include bodies corporate,
partnerships, associations, firms, governments and governmental authorities and
agencies and vice versa;

	 	(n)	 	a reference to any legislation or to any provision of any legislation
includes:

	 	(i)	 	any modification or re enactment of the legislation;

	 	(ii)	 	any legislative provision substituted for, and all
legislation, statutory instruments and regulations issued under, the
legislation or provision; and

	 	(iii)	 	where relevant, corresponding legislation in any
Australian State or Territory;

	 	(o)	 	no rule of construction applies to the disadvantage of a party because that
party was responsible for the preparation of this document or any part of it;

	 	(p)	 	the words “including”, “for example”, “such as” or other similar
expressions (in any form) are not words of limitation;

	 	(q)	 	a reference to any act of a company includes an act performed in general
meeting or on the company’s behalf by its directors, officers, employees, share
registrars, accountants, solicitors or agents;

	 	(r)	 	a reference to a body (including, but not limited to, an institute,
association or authority) whether statutory or not:

	 	(i)	 	which ceases to exist; or

	 	(ii)	 	whose powers or functions are transferred to another body,

	 	 	 	is a reference to the body which replaces it or which substantially succeeds to its
powers or functions; and

	 	(s)	 	an Event of Default is “continuing” if it has not been remedied by the
Chargor or waived by the Chargee.

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1.4 Benefit of Charge

	 	 	The Charge provided in this Deed is held by the Collateral Agent for and on behalf of the
Canadian Secured Parties and any amendment, waiver, consent or decision under this Deed by
the Collateral Agent will only be entered into, granted or made in accordance with the terms
of the Credit Agreement.

1.5 Capacity of Collateral Agent

	 	 	The Collateral Agent enters into this Deed as trustee for the Canadian Secured Parties
pursuant to and in accordance with Section 8 of the Credit Agreement.

2 Charge

2.1 Charge

	 	 	The Chargor charges all of its interest in the Secured Property to the Chargee as security
for the due and punctual payment of the Secured Moneys. The Chargor does this as legal and
beneficial owner of the Secured Property.

2.2 Priority

	 	 	Save and except as provided otherwise in any Loan Document or save as agreed by the parties
in writing, the parties intend that the Charge take priority over all other Security
Interests of the relevant Chargor.

2.3 Nature of Charge

	 	 	In relation to the Chargor, the Charge created under clause 2.1 is:

	 	(a)	 	a fixed charge over all that Chargor’s present and future right, title and
interest in the Secured Property which is:

	 	(i)	 	any freehold or leasehold property or any other interest in
real property, fixtures, plant and equipment (other than stock in trade);

	 	(ii)	 	any uncalled or called but unpaid capital or premiums of
that Chargor;

	 	(iii)	 	any Title Document and any other documents evidencing a
right to the possession of any real or personal property;

	 	(iv)	 	any partnership in which that Chargor is a partner;

	 	(v)	 	any joint venture in which that Chargor is a joint
venturer;

	 	(vi)	 	any insurance policy in relation to the Secured Property
including, but not limited to, any proceeds from that insurance policy;

	 	(vii)	 	any Marketable Securities;

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	 	(viii)	 	any Intellectual Property Rights;

	 	(ix)	 	documents and agreements to which that Chargor is a party;

	 	(x)	 	any other assets that are not acquired for disposal in the
ordinary course of that Chargor’s business; and

	 	(xi)	 	any other property if clause 2.4 says this Charge is to be
fixed over that property; and

	 	(b)	 	a floating charge over all other Secured Property.

2.4 Crystallisation

	 	 	The floating charge of the Chargor created in clauses 2.1 and 2.3(b) automatically and
immediately crystallises and becomes fixed:

	 	(a)	 	without the Chargee giving any notice to the Chargor:

	 	(i)	 	when the law provides that the floating charge becomes a
fixed charge;

	 	(ii)	 	when a Receiver or any other receiver or receiver and
manager is appointed in respect of any of the Secured Property;

	 	(iii)	 	when the Charge or any other Security Interest over any of
the Secured Property is enforced in any other way;

	 	(iv)	 	when a notice under section 260 of schedule 1 of the Tax
Administration Act 1953 (Cth) or under similar legislation in respect of the
Chargor is signed by, or on behalf of, the Commissioner of Taxation or the
Deputy Commissioner of Taxation;

	 	(v)	 	when an order is made or a resolution is passed for the
liquidation of the Chargor;

	 	(vi)	 	in respect of an item of Secured Property, when any step is
taken (including, without limitation, signing a notice) to create, issue, levy
or enforce any distress, attachment, execution, statutory assignment, statutory
charge or other similar right or process against or upon the Secured Property;

	 	(vii)	 	in respect of an item of Secured Property, when any
Security Interest over any of the Secured Property is enforced or any floating
Security Interest over any of the Secured Property crystallises or otherwise
becomes a fixed Security Interest;

	 	(b)	 	in respect of the proceeds of any book debt or other debt or other moneys
now or in the future payable to that Chargor and which are the subject of the floating
charge, when notice in respect of those proceeds or moneys is given to the Chargor by
the Chargee at any time after an Event of Default has occurred and is subsisting; or

	 	(c)	 	in respect of any asset forming part of the Secured Property when the
Chargee gives notice in respect of that asset to the Chargor upon or any time after the
occurrence of an Event of Default which is subsisting.

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2.5 De-crystallisation

	 	(a)	 	Where an asset has become subject to a fixed charge under clause 2.4, the
Chargee may release the asset from that fixed charge by notice in writing to the
Chargor as of the date specified in the notice.

	 	(b)	 	When an asset is released from the fixed charge under clause 2.5(a), the
asset will again be subject to:

	 	(i)	 	the floating charge under clauses 2.1 and 2.3; and

	 	(ii)	 	the further operation of clause 2.4.

2.6 Prospective liability

	 	(a)	 	For the purposes only of fixing priorities under section 282(3) of the
Corporations Act, the maximum amount of the prospective liability secured by this Deed
is $1,000,000,000.

	 	(b)	 	The Chargee may from time to time lodge a notice under section 268(2) of
the Corporations Act on behalf of the Chargor specifying an increase in the maximum
amount of the prospective liability referred to in clause 2.6(a) and from the date of
lodgement the amount specified in clause 2.6(a) is to be regarded as varied to the
amount specified in that notice.

	 	(c)	 	Neither clause 2.6(a) nor clause 2.6(b) in any way affects or limits the
actual amount of Secured Moneys which may in fact be secured by the Charge.

	 	(d)	 	Clauses 2.6(a), 2.6(b) and 2.6(c) are to be construed independently of each
other.

3 Discharge of the Charge

	 	(a)	 	At the written request of the Chargor, the Chargee must discharge the Charge
if:

	 	(i)	 	the Secured Moneys have been Finally Paid;

	 	(ii)	 	the Chargor has fully observed and performed its
obligations under this Deed and each other Loan Document to which it is
expressed to be a party; and

	 	(iii)	 	the Chargee is obliged or permitted to grant that
discharge under the Credit Agreement.

	 	(b)	 	Clause 3(a) overrides the operation and effect of any other clause to the
contrary in this Deed.

	 	(c)	 	The parties intend that clause 3(a) be severed from this Deed if clause
3(a) is void or unenforceable under applicable law.

	 	(d)	 	The parties do not intend clause 3(c) to exclude the general law of
severance from applying to this Deed.

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4 Representations and warranties

4.1 Representations and warranties

	 	 	The Chargor represents and warrants in favour of the Chargee that as at the date of this
Deed all its representations and warranties as to itself in the Credit Agreement are true
and correct or will be true and correct in all respects when made or regarded as having been
made and further represents and warrants that:

	 	(a)	 	(title) it has legal and beneficial right and title to, and full power to
charge, the Secured Property in the manner provided in this Deed;

	 	(b)	 	(Security Interests) the Secured Property is free from all Security
Interests other than Permitted Security Interests; and

	 	(c)	 	(Trust capacity) it does not enter into this Deed as trustee and is not the
trustee of any trust or settlement.

4.2 Reliance

	 	 	The Chargor acknowledges that:

	 	(a)	 	it has not entered into this Deed in reliance on any representation,
warranty, promise or statement made by the Chargee or any person on behalf of the
Chargee; and

	 	(b)	 	the Chargee enters into this Deed in reliance on the representations and
warranties given under this Deed.

5 Undertakings of Chargor

5.1 Performance under the Loan Documents

	 	(a)	 	The Chargor must fully and punctually perform its obligations under any
Loan Documents to which it is a party.

	 	(b)	 	The Chargor must pay the Secured Moneys in accordance with the Loan
Documents to which it is a party and each other obligation under which the Secured
Moneys are payable.

	 	(c)	 	 

5.2 Secured Property

	 	 	The Chargor must maintain and protect its Secured Property and must, without limitation:

	 	(a)	 	remedy any defect in its title to any part of the Secured Property where
failure to do so would have a Material Adverse Effect;

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	 	(b)	 	take or defend all legal proceedings or other action necessary or desirable
for the protection or recovery of any of the Secured Property where failure to do so
would have a Material Adverse Effect;

	 	(c)	 	fully and punctually comply with and observe all applicable laws, all
requirements and orders of any Government Agency where non-compliance or non-observance
would or might impose some Security Interest or restriction, disability or material
Liability, on any of the Secured Property or prejudicially affect any Power; and

	 	(d)	 	keep the Secured Property valid and subsisting and free from liability to
forfeiture, cancellation, avoidance or loss where failure to do so would have a
Material Adverse Effect.

5.3 Further security

	 	(a)	 	The Chargor must, whenever requested by the Chargee, do or cause to be done
anything which:

	 	(i)	 	more satisfactorily (in the reasonable opinion of the
Chargee) secures the priority of the Charge or assures to the Chargee the
Secured Property or any part of it in a manner consistent with this Deed; or

	 	(ii)	 	is necessary in the exercise of any Power of the Chargee,

	 	 	 	including, but not limited to, the execution of any document, the delivery of Title
Documents or the execution and delivery of blank transfers.

	 	(b)	 	Without limiting the generality of clause 5.3(a), at the request of the
Chargee, the Chargor must execute a legal or statutory mortgage over any real property
now held or acquired on or after the date of this Deed.

	 	(c)	 	The Chargor must register any mortgage executed under clause 5.3(b).

	 	(d)	 	Any mortgage executed under clause 5.3(b) must:

	 	(i)	 	be in favour of the Chargee; and

	 	(ii)	 	be in the form and substance required by the Chargee, but
the Chargee cannot require an obligation which is more onerous than any
obligation contained in this Deed.

5.4 Title Documents

	 	(a)	 	Save to the extent required by any prior ranking Security Interest, the
Chargor must deposit with the Chargee, or as the Chargee directs, all the Title
Documents in respect of any of the Secured Property subject to the fixed charge created
in clauses 2.1 and 2.3:

	 	(i)	 	within 10 Business Days of execution of this Deed;

	 	(ii)	 	within 10 Business Days of the acquisition of any asset
which forms part of the Secured Property and is subject to the fixed charge
created in clauses 2.1 and 2.3; and

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	 	(iii)	 	within 10 Business Days of the crystallisation and fixing
for any reason of the floating charge created in clauses 2.1 and 2.3.

	 	(b)	 	Subject to clause 5.4(d), the Chargee may retain the Title Documents until
all the Secured Property is discharged under clause 3.

	 	(c)	 	If the Charge is enforced by the Chargee, an Enforcing Party is entitled:

	 	(i)	 	to deal with the Title Documents as if it was the absolute
and unencumbered owner of the Secured Property to which the Title Documents
relate; and

	 	(ii)	 	in exercising a power of sale, to deliver any Title
Document to a purchaser of the Secured Property to which it relates.

5.5 Registration and protection of security

	 	(a)	 	The Chargor must ensure that this Deed is registered and filed in all
registers in all jurisdictions in which it must be registered and filed to ensure
enforceability, validity and priority against all persons and to be effective as a
security.

	 	(b)	 	Whenever any part of the Chargor’s Secured Property is transferred to or
retained in a place where this Deed, because of an increase in the Secured Moneys or
otherwise, bears insufficient stamp duty or is not registered or recorded, or for any
other reason is of limited or of no force or effect, unenforceable, inadmissible in
evidence or of reduced priority, the Chargor must within 10 Business Days after that
transfer or retention ensure that this Deed:

	 	(i)	 	is stamped to the satisfaction of the Chargee (acting
reasonably);

	 	(ii)	 	is in full force and effect, enforceable, admissible in
evidence and not of reduced priority; and

	 	(iii)	 	is registered in that place, or that part of the Secured
Property is removed from that place.

5.6 Negative pledge

	 	(a)	 	The Chargor must not create, permit, suffer to exist, or agree to, any
interest or Security Interest, other than a Security Interest in favour of the Chargee
or a Permitted Security Interest, over any of its assets or undertakings (including,
without limitation, the Secured Property and any Marketable Securities that are or may
in the future be held by the Chargor in respect of The MAC Services Group Limited ACN
003 657 510) without the prior written consent of the Chargee or as permitted by the
Loan Documents.

	 	(b)	 	The Chargor must not without the prior written consent of the Chargee,
acquire an asset to form part of the Secured Property which is subject to an existing
Security Interest, or which will become subject to a Security Interest (except in
favour of the Chargee) when that Chargor acquires the asset.

	 	(c)	 	The Chargor must not without the prior written consent of the Chargee,
incur any Financial Indebtedness except for any Financial Indebtedness permitted under
the Credit Agreement.

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5.7 Restricted dealings — property subject to fixed charge

	 	 	The Chargor must not:

	 	(a)	 	deal with, sell or otherwise dispose of or part with possession of;

	 	(b)	 	attempt to do anything listed in clause 5.7(a), in respect of,

	 	 	any of the Secured Property over which the Charge is fixed, without the prior written
consent of the Chargee or as permitted by the Loan Documents.

5.8 Restricted dealings — property subject to floating charge

	 	 	The Chargor must not and may not agree, attempt or take any step to, do anything in clause
5.7 in respect of Secured Property over which this charge is floating except where the thing
done is done in the ordinary course of the Chargor’s ordinary business or otherwise with the
prior written consent of the Chargee.

5.9 Marketable Securities

	 	 	The Chargor must not:

	 	(a)	 	deal with, sell or otherwise dispose of or part with possession of;

	 	(b)	 	attempt to do anything listed in clause 5.7(a), in respect of,

	 	 	any Marketable Securities that are or may in the future be held by the Chargor in respect of
The MAC Services Group Limited ACN 003 657 510 without the prior written consent of the
Chargee or as permitted by the Loan Documents.

5.10 No caveats

	 	 	The Chargor must ensure that any caveat lodged in respect of the Secured Property, other
than a caveat lodged by the Chargee or with the Chargee’s consent, is removed within 10
Business Days, or if the caveat is being contested in good faith, it is removed within 30
Business Days.

5.11 Term of undertakings

	 	 	The Chargor’s undertakings in this clause 5 continue in full force and effect from the date
of this Deed until all the Secured Property is discharged under clause 3.

6 Default

6.1 Events of Default

	 	 	It is an Event of Default if an “Event of Default” as defined in the Credit Agreement
occurs.

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6.2 Ensure no default

	 	 	The Chargor agrees to do all things reasonably necessary to ensure that there is no Event of
Default.

7 Enforcement

7.1 When enforceable

	 	(a)	 	Upon the occurrence of an Event of Default which is subsisting:

	 	(i)	 	the Charge is immediately enforceable; and

	 	(ii)	 	the Secured Moneys will, at the Chargee’s option and as
provided for by the terms of the Credit Agreement, be immediately due and
payable by the Chargor.

	 	(b)	 	Subject to clause 2.5, the right of the Chargor to deal, for any purpose,
with:

	 	(i)	 	all of the Secured Property, other than by or through a
Receiver appointed under this Deed, immediately ceases on the crystallisation
of the Charge in respect of all of the Secured Property; and

	 	(ii)	 	any asset which forms part of the Secured Property, other
than by or through a Receiver appointed under this Deed, immediately ceases on
the crystallisation of the Charge in respect of that asset.

7.2 Assistance in realisation

	 	 	Subject to the terms of the Loan Documents, if a Charge has become enforceable, the Chargor
must take all action required by an Enforcing Party to assist that Enforcing Party to
realise the relevant Secured Property and exercise any Power including, but not limited to:

	 	(a)	 	executing all transfers, conveyances, assignments and assurances of any of
the relevant Secured Property;

	 	(b)	 	doing anything necessary or desirable under the law in force in any place
where the relevant Secured Property is situated;

	 	(c)	 	giving all notices, orders, directions and consents which an Enforcing
Party thinks expedient; and

	 	(d)	 	doing anything necessary:

	 	(iii)	 	for a call to be made on the uncalled capital of that
Chargor; or

	 	(iv)	 	to collect all called but unpaid capital of that Chargor.

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8 Receiver

8.1 Appointment of Receiver

	 	 	Upon or at any time after the occurrence of an Event of Default which is subsisting, the
Chargee may:

	 	(a)	 	appoint any person or any two or more persons jointly, or severally, or
jointly and severally to be a Receiver of the Secured Property;

	 	(b)	 	remove any Receiver and on the removal, retirement or death of any
Receiver, appoint another Receiver; and

	 	(c)	 	fix the remuneration and direct payment of that remuneration and any costs,
charges and expenses of the Receiver out of the proceeds of any realisation of the
Secured Property of the Chargor.

8.2 Agency of Receiver

	 	(a)	 	Subject to clause 8.5, the Receiver is the agent of the Chargor.

	 	(b)	 	The Chargor is responsible for the acts, defaults and remuneration of the
Receiver in respect of the Secured Property.

8.3 Powers of Receiver

	 	 	Subject to the terms of the Loan Documents and any express exclusion by the terms of the
Receiver’s appointment, the Receiver appointed in respect of any Secured Property of the
Chargor has, in addition to any powers conferred on the Receiver by applicable law, power to
do any of the following whether or not in possession of the Secured Property or any part of
it:

	 	(a)	 	(manage, possession or control) to manage, enter into possession or assume
control of any of the Secured Property;

	 	(b)	 	(lease or licence) to accept the surrender of, determine, grant or renew
any lease or licence in respect of the use or occupation of any of the Secured
Property:

	 	(i)	 	on any terms or special conditions that the Chargee or
Receiver thinks fit; and

	 	(ii)	 	in conjunction with the sale, lease or licence of any other
property by any person;

	 	(c)	 	(sale) to sell or concur in selling any of the Secured Property to any
person:

	 	(i)	 	by auction, private treaty or tender;

	 	(ii)	 	on such terms and special conditions as the Chargee or the
Receiver thinks fit;

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	 	(iii)	 	for cash or for a deferred payment of the purchase price,
in whole or in part, with or without interest or security;

	 	(iv)	 	in conjunction with the sale of any property by any other
person; and

	 	(v)	 	in one lot or in separate parcels;

	 	(d)	 	(grant options to purchase) to grant to any person an option to purchase
any of the Secured Property;

	 	(e)	 	(acquire property) to acquire any interest in any property, in the name or
on behalf of the Chargor, which on acquisition forms part of the Secured Property;

	 	(f)	 	(carry on business) to carry on or concur in carrying on any business of
the Chargor in respect of the Secured Property;

	 	(g)	 	(borrowings and security):

	 	(i)	 	to raise or borrow any money, in its name or the Chargor’s
name or on behalf of the Chargor, from the Chargee or any person approved by
the Chargee in writing; and

	 	(ii)	 	to secure money raised or borrowed under clause 8.3(i) by
an Security Interest over any of the Secured Property, ranking in priority to,
equal with, or after, the Charge or any other Security;

	 	(h)	 	(maintain or improve Secured Property) to do anything to maintain, protect
or improve any of the Secured Property including, but not limited to, completing,
repairing, erecting a new improvement on, demolishing or altering any of the Secured
Property;

	 	(i)	 	(income and bank accounts) to do anything to manage or obtain income or
revenue from any of the Secured Property including, but not limited to, operating any
bank account which forms part of the Secured Property or opening and operating a new
bank account;

	 	(j)	 	(access to Secured Property) to have access to any of the Secured Property,
the premises at which the business of the Chargor is conducted and any of the
administrative services of the business of the Chargor;

	 	(k)	 	(insure Secured Property) to insure any of the Secured Property;

	 	(l)	 	(sever fixtures) to sever fixtures in respect of any of the Secured
Property;

	 	(m)	 	(compromise) to make or accept any compromise or arrangement;

	 	(n)	 	(surrender Secured Property) to surrender or transfer any of the Secured
Property to any person;

	 	(o)	 	(exchange Secured Property) to exchange with any person any of the Secured
Property for any other property whether of equal value or not;

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	 	(p)	 	(employ or discharge) to employ or discharge any person as an employee,
contractor, agent, professional advisor or auctioneer for any of the purposes of this
Deed;

	 	(q)	 	(delegate) to delegate to any person any Power of the Receiver;

	 	(r)	 	(perform or enforce documents) to observe, perform, enforce, exercise or
refrain from exercising any right, power, authority, discretion or remedy of the
Chargor under, or otherwise obtain the benefit of:

	 	(i)	 	any document, agreement or right which attaches to or forms
part of the Secured Property; and

	 	(ii)	 	any document or agreement entered into in exercise of any
Power by the Receiver;

	 	(s)	 	(receipts) to give effectual receipts for all moneys and other assets which
may come into the hands of the Receiver;

	 	(t)	 	(take proceedings) to commence, discontinue, prosecute, defend, settle or
compromise in its name or the name or on behalf of the Chargor, any proceedings
including, but not limited to, proceedings in relation to any insurance in respect of
any of the Secured Property;

	 	(u)	 	(insolvency proceedings) to make any debtor bankrupt, wind-up any company,
corporation or other entity and do all things in relation to any bankruptcy or
winding-up which the Receiver thinks necessary or desirable including, but not limited
to, attending and voting at creditors’ meetings and appointing proxies for those
meetings;

	 	(v)	 	(execute documents) to enter into and execute any document or agreement in
the name of the Receiver or the name or on behalf of the Chargor including, but not
limited to, bills of exchange, cheques or promissory notes for any of the purposes of
this Deed;

	 	(w)	 	(make calls) to make calls on any member of the Chargor in respect of
uncalled capital of the Chargor;

	 	(x)	 	(vote) to exercise any voting rights or powers in respect of any part of
the Secured Property;

	 	(y)	 	(collect called capital) to collect or enforce payment of any called but
unpaid capital of the Chargor whether or not the calls were made by the Receiver;

	 	(z)	 	(ability of Chargor) to do anything the Chargor could do in respect of the
Secured Property;

	 	(aa)	 	(lend) to lend money or provide financial accommodation;

	 	(bb)	 	(vary and terminate agreements) to vary, rescind or terminate any document
or agreement;

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	 	(cc)	 	(promote companies) to promote the formation of companies with a view to
purchasing any of the Secured Property or assuming the obligations of the Chargor or
otherwise;

	 	(dd)	 	(other outgoings) to pay any outgoings or indebtedness of the Chargor or
any other person;

	 	(ee)	 	(Security Interests) to redeem any Security Interest or acquire it and any
debt secured by it;

	 	(ff)	 	(insurance claims) to make, enforce, compromise and settle all claims in
respect of insurance;

	 	(gg)	 	(Authorisation) to apply for, renew or obtain any necessary Authorisation;
and

	 	(hh)	 	(incidental power) to do anything necessary or incidental to the exercise
of any Power of the Receiver.

8.4 Nature of Receiver’s Powers

	 	 	The Powers of the Receiver must be construed independently and no one Power limits the
generality of any other Power. Any dealing under any Power of the Receiver will be on the
terms and conditions the Receiver thinks fit.

8.5 Status of Receiver after commencement of winding-up

	 	(a)	 	The power to appoint a Receiver under clause 8.1 may be exercised even if
at the time an Event of Default occurs or if at the time a Receiver is appointed, an
order has been made or a resolution has been passed for the winding-up of the Chargor.

	 	(b)	 	If for any reason, including, but not limited to operation of law, a
Receiver:

	 	(i)	 	appointed in the circumstances described in clause 8.5(a);
or

	 	(ii)	 	appointed at any other time,

	 	 	 	ceases to be the agent of the Chargor upon or by virtue of, or as a result of, an
order or a resolution being passed for the winding-up of the Chargor, then the
Receiver immediately becomes the agent of the Chargee.

8.6 Powers exercisable by the Chargee

	 	(a)	 	Whether or not a Receiver is appointed under clause 8.1, the Chargee may,
on or after the occurrence of an Event of Default which is subsisting and without
giving notice to any person, exercise any Power of the Receiver in addition to any
Power of the Chargee.

	 	(b)	 	The exercise of any Power by any Enforcing Party does not cause or deem
such Enforcing Party:

	 	(i)	 	to be a mortgagee in possession;

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	 	(ii)	 	to account as mortgagee in possession; or

	 	(iii)	 	to be answerable for any act or omission for which a
mortgagee in possession is liable.

8.7 Set off

	 	 	Subject to the terms of the Loan Documents, after the occurrence of an Event of Default
which is subsisting, the Chargee is entitled to apply any credit balance in any of the
Chargor’s accounts with the Chargee in and towards satisfaction of any of the Secured
Moneys.

8.8 Notice of exercise of rights

	 	 	An Enforcing Party is not required:

	 	(a)	 	to give notice of the Charge or any other Security to any debtor or
creditor of the Chargor or to any other person;

	 	(b)	 	to enforce payment of any money payable to the Chargor including, but not
limited to, any of the debts or monetary liabilities charged by this Deed or by any
other Security; or

	 	(c)	 	to obtain the consent of the Chargor to any exercise of a Power.

8.9 Termination of receivership and possession

	 	 	The Chargee may, at any time, terminate the appointment of a Receiver and may, at any time,
give up possession of the Secured Property of the Chargor.

9 Application and receipts of money

9.1 Order of application

	 	(a)	 	Subject to the terms of the Loan Documents, at any time after this Charge
is enforceable, all money received by an Enforcing Party or any other person acting on
their behalf under this Deed may be appropriated and applied in the order set forth in
Section 7.05 of the Credit Agreement, to the extent not prohibited by law.

9.2 Amounts contingently due

	 	(a)	 	If, at the time of a distribution of any money under clause 9.1, any part
of the Secured Moneys is contingently owing, the Enforcing Party may retain an amount
equal to the amount contingently owing or any part of it.

	 	(b)	 	If an Enforcing Party retains any amount under clause 9.2(a), it must place
that amount on short-term interest bearing deposit until the amount contingently owing
becomes actually due and payable or otherwise ceases to be contingently owing at which
time the Enforcing Party must:

	 	(i)	 	pay to the Chargee the amount which has become actually due
to it; and

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	 	(ii)	 	apply the balance of the amount retained, together with any
interest on the amount contingently owing, in accordance with clause 9.1.

10 Power of attorney

10.1 Appointment of Attorney

	 	 	In consideration of the Chargee entering into this Deed to which it is expressed to be a
party, the Chargor irrevocably appoints each Enforcing Party and each Authorised Officer of
the Chargee severally its attorney for the purposes set out in clause 10.2.

10.2 Purposes of appointment

	 	 	Subject to the terms of the Loan Documents, an Attorney may, in its name or in the name of
the Chargor, Chargee or Receiver, at any time after the occurrence of an Event of Default
which is subsisting do any of the following:

	 	(a)	 	do any thing which can be done by the Chargor under or in connection with
this Deed except the Attorney may not amend the Loan Documents;

	 	(b)	 	exercise any right, power, authority, discretion or remedy of, or perform
any obligation of, the Chargor under:

	 	(i)	 	this Deed;

	 	(ii)	 	any of the Loan Documents; or

	 	(iii)	 	any agreement forming part of the Secured Property,

	 	 	 	except that, in each case, the Attorney may not amend the Loan Documents;

	 	(c)	 	do any thing which in the opinion of the Attorney is necessary or expedient
for securing or perfecting the Charge and any other Security except that the Attorney
may not amend the Loan Documents;

	 	(d)	 	execute in favour of the Chargee any legal mortgage, transfer, assignment
and any other assurance of any of the Secured Property of the Chargor;

	 	(e)	 	execute deeds of assignment, composition or release;

	 	(f)	 	sell or otherwise part with the possession of any of the Secured Property
of the Chargor; and

	 	(g)	 	generally, do any other thing, whether or not of the same kind as those set
out in clauses 10.2(a) to 10.2(f), which in the opinion of the Attorney is necessary or
expedient:

	 	(i)	 	to more satisfactorily secure to the Chargee the payment of
the Secured Moneys; or

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	 	(ii)	 	in relation to any of the Secured Property of the Chargor,
if the thing is of the same kind as that set out in clause 10.2(b) or 10.2(f).

10.3 Delegation and substitution

	 	 	An Attorney may, at any time, for any of the purposes in clause 10.2, appoint or remove any
substitute or delegate or sub-attorney.

11 Indemnities

11.1 Stamp duty indemnity

	 	(a)	 	The Chargor indemnifies each Enforcing Party and each of its officers,
employees and contractors (each an “Indemnified Party”) against any Loss which the
Chargee pays, suffers, incurs or is liable for in connection with:

	 	(i)	 	the stamping of, or any stamp duty payable on, any of the
following:

	 	(A)	 	the Charge;

	 	(B)	 	any agreement or document entered into or
signed under, or the performance or exercise of any right or obligation
under, this Charge; and

	 	(C)	 	any transaction contemplated under this
Charge or under any agreement or document described in clause
11.1(a)(i)(B);

	 	(ii)	 	any enquiry by a Government Agency (including any stamp
duty or state revenue office) in connection with the assessment for stamp duty
of any Loan Document;

	 	(iii)	 	any litigation or administrative proceedings (including
any objection made to a stamp duty or state revenue office) taken against or
involving the Indemnified Party in connection with the assessment for stamp
duty of the Loan Documents or transactions referred to therein; or

	 	(iv)	 	any future, or any change in any present or future, stamp
duty law or regulation or stamp duty or state revenue office practice (with
which, if not having the force of law, compliance is in accordance with the
practice of responsible bankers and financial institutions in the jurisdiction
concerned),

	 	 	 	including any administration costs of an Indemnified Party in connection with the
matters referred to above, any legal costs and expenses and any professional
consultant’s fees for any of the above on a full indemnity basis.

	 	(b)	 	The Chargee must give notice to the Chargor as soon as it becomes aware of
any of the following events:

	 	(i)	 	any enquiry by a Government Agency referred to in clause
11.1(a)(ii) involving it; or

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	 	(ii)	 	any litigation or administrative proceedings taken against
or involving it as contemplated by clause 11.1(a)(iii).

	 	(c)	 	The Chargee agrees, at the cost of the Chargor, to assist the Chargor in
responding to, and the Chargor’s participation in, any enquiry by a Government Agency
referred to in clause 11.1(a)(ii).

11.2 Continuing indemnities and evidence of loss

	 	(a)	 	Each indemnity of the Chargor contained in this Charge is a continuing
obligation of the Chargor, despite:

	 	(i)	 	any settlement of account; or

	 	(ii)	 	the occurrence of any other thing,

	 	 	 	and remains in full force and effect until:

	 	(iii)	 	all moneys owing, contingently or otherwise, under any of
the Loan Documents have been paid in full to the satisfaction of the Chargee;

	 	(iv)	 	the Secured Moneys are paid in full to the satisfaction of
the Chargee; and

	 	(v)	 	each Security in respect of all the Secured Property
subject to each Security has been finally discharged.

	 	(b)	 	Each indemnity of the Chargor contained in a Loan Document is an
additional, separate and independent obligation of that Chargor and no one indemnity
limits the generality of any other indemnity.

	 	(c)	 	Each indemnity of the Chargor contained in this Charge survives the
termination of this Charge.

12 Taxes, costs and expenses

12.1 Taxes

	 	 	The Chargor:

	 	(a)	 	must pay or reimburse the Chargee on demand for any Tax, other than an
Excluded Tax in respect of the Chargee, in respect of the execution, delivery,
performance, release, discharge, amendment, enforcement or attempted enforcement or
otherwise in respect of any of the following:

	 	(i)	 	this Charge;

	 	(ii)	 	any agreement or document entered into or signed under this
Charge; and

	 	(iii)	 	any transaction contemplated under this Charge or any
agreement or document described in clause 12.1(a)(ii);

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	 	(b)	 	must pay any fine, penalty or other cost in respect of a failure to pay any
Tax described in clause 12.1(a) except to the extent that the fine, penalty or other
cost is caused by the Chargee’s failure to lodge money or documents received from that
party within 10 Business Days before the due date for lodgement; and

	 	(c)	 	indemnifies the Chargee against any amount payable under clause 12.1(a) or
12.1(b) or both.

12.2 GST

	 	(a)	 	Terms defined in the A New Tax System (Goods and Services Tax) Act 1999
(Cth) have the same meaning in this clause 12.2 unless provided otherwise.

	 	(b)	 	Notwithstanding any other provision of this Charge, in the event that the
Chargee must pay any GST on any supply made by it to the Chargor under or in connection
with this Charge, the Chargee may, in addition to any amount or consideration payable
under this Charge, recover from the Chargor an additional amount on account of that
GST, such amount to be calculated by multiplying the relevant amount or consideration
payable by the recipient for the relevant supply by the prevailing GST rate.

	 	(c)	 	Notwithstanding any other provisions of this Charge, in the event that the
Chargee must pay any GST in relation to a Taxable Supply that is made to it under or in
connection with this Charge, the Chargee may in addition to any other amounts, recover
from the Chargor that GST less the amount of any input tax credit to which the
indemnitee is entitled in respect of that payment.

	 	(d)	 	The Chargee must issue a tax invoice to the recipient of a supply referred
to in clause 12.2(b) no later than 10 Business Days after payment by the recipient of
the GST inclusive consideration for that supply.

	 	(e)	 	Any additional amount on account of GST recoverable from the Chargor
pursuant to clause 12.2(b) or clause 12.2(c) shall be calculated without any deduction
or set off of any other amount and is payable by the Chargor upon demand by the Chargee
whether such demand is by means of an invoice or otherwise.

13 Protection

13.1 Protection of third parties

	 	(a)	 	No person dealing with an Enforcing Party is:

	 	(i)	 	bound to enquire whether:

	 	(A)	 	the Charge of the Chargor has become
enforceable;

	 	(B)	 	an Enforcing Party is duly appointed; or

	 	(C)	 	any Power has been properly or regularly
exercised; or

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	 	(ii)	 	affected by express notice that the exercise of any Power
was unnecessary or improper.

	 	(b)	 	The irregular or improper exercise of any Power is, as regards the
protection of any person, regarded as authorised by the Chargor and this Deed, and is
valid.

13.2 Protection of Enforcing Party

	 	(a)	 	An Enforcing Party is not liable for any Loss including, but not limited
to, consequential Loss arising directly or indirectly from:

	 	(i)	 	any omission or delay in the exercise or non-exercise of
any Power; or

	 	(ii)	 	the neglect, default or dishonesty of any manager,
Authorised Officer, employee, agent, accountant, auctioneer or solicitor of the
Chargor or any Enforcing Party.

	 	(b)	 	Clause 13.2(a) does not apply in respect of an Enforcing Party, to any Loss
which arises from the wilful default, fraud, gross negligence or illegal acts of that
Enforcing Party or its manager, Authorised Officers, employees, agents, accountants,
auctioneers or solicitors.

14 Third party provisions

14.1 Independent obligations

	 	 	Subject to the terms of the Loan Documents, this Deed is enforceable against the Chargor:

	 	(a)	 	without the Chargee first enforcing any other Security;

	 	(b)	 	whether or not the Chargee has:

	 	(i)	 	made demand upon the Chargor;

	 	(ii)	 	given notice to the Chargor or any other person in respect
of anything; or

	 	(iii)	 	taken any other steps against the Chargor or any other
person; and

	 	(c)	 	despite the occurrence of any event described in clause 14.2.

14.2 Unconditional nature of obligations

	 	(a)	 	The Charge and the obligations of the Chargor under this Deed are absolute,
binding and unconditional in all circumstances.

	 	(b)	 	This Deed and the obligations of the Chargor under this Deed are not
released, discharged or otherwise affected by anything which but for this provision
might have that effect, including but not limited to:

	 	(i)	 	the grant to any person of any time, waiver, covenant not
to sue or other indulgence;

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	 	(ii)	 	the release (including a release as part of any novation)
or discharge of any person;

	 	(iii)	 	the cessation of the obligations, in whole or in part, of
any person under any Loan Document or any other document or agreement;

	 	(iv)	 	the liquidation of any person;

	 	(v)	 	any arrangement, composition or compromise entered into by
the Chargee or any person;

	 	(vi)	 	any Loan Document or any other document or agreement being
in whole or in part illegal, void, voidable, avoided, unenforceable or
otherwise of limited force or effect;

	 	(vii)	 	any extinguishment, failure, loss, release, discharge,
abandonment, impairment, compound, composition or compromise, in whole or in
part, of any Loan Document or any other document or agreement;

	 	(viii)	 	any Security Interest being given to the Chargee by any person;

	 	(ix)	 	any alteration, amendment, variation, supplement, renewal
or replacement of any Loan Document or any other document or agreement;

	 	(x)	 	any moratorium or other suspension of any Power;

	 	(xi)	 	any Enforcing Party exercising or enforcing, delaying or
refraining from exercising or enforcing, or being not entitled or unable to
exercise or enforce, any Power;

	 	(xii)	 	any Enforcing Party obtaining a judgment against any
person for the payment of any of the Secured Moneys;

	 	(xiii)	 	any transaction, agreement or arrangement that may take place with the
Chargee or any other person including the execution of a Loan Document;

	 	(xiv)	 	any payment to any Enforcing Party, including any payment
which at the payment date or at any time after the payment date is, in whole or
in part, illegal, void, voidable, avoided or unenforceable;

	 	(xv)	 	any failure to give effective notice to any person of any
default under any Loan Document or any other document or agreement;

	 	(xvi)	 	any legal limitation, disability or incapacity of any
person;

	 	(xvii)	 	any breach of any Loan Document or any other document or agreement;

	 	(xviii)	 	the acceptance of the repudiation of, or termination of, any Loan
Document or any other document or agreement;

	 	(xix)	 	any Secured Moneys being irrecoverable for any reason;

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	 	(xx)	 	any disclaimer by any person of any Loan Document or any
other document or agreement;

	 	(xxi)	 	any assignment, novation, assumption or transfer of, or
other dealing with, any Powers or any other rights or obligations under any
Loan Document or any other document or agreement;

	 	(xxii)	 	the opening of a new account of any person (whether alone or with others)
with the Chargee or any other person or any transaction on or relating to the
new account;

	 	(xxiii)	 	any prejudice (including material prejudice) to any person as a result
of:

	 	(A)	 	any thing done, or omitted to be done, by
the Chargor, any other Enforcing Party or any person;

	 	(B)	 	any Enforcing Party or any other person
selling or realising any property the subject of the Charge at less
than the best price;

	 	(C)	 	any failure or neglect by any Enforcing
Party or any other person to recover the Secured Moneys from any person
or by the realisation of any property the subject of the Charge; or

	 	(D)	 	any other thing;

	 	(xxiv)	 	the receipt by the Chargee of any dividend, distribution or other payment
in respect of any liquidation;

	 	(xxv)	 	the capacity in which the Chargor executed a Loan Document
not being the capacity disclosed to the Chargee before the execution of the
Loan Document;

	 	(xxvi)	 	any other act, omission, matter or thing whatsoever, whether negligent or
not:

	 	(A)	 	any Loan Document or any other document or
agreement not being valid or executed by, or binding on, any person;
and

	 	(B)	 	any increase in the Secured Moneys for any
reason (including as a result of anything referred to above).

	 	(c)	 	Clauses 14.2(a) and 14.2(b) apply irrespective of:

	 	(i)	 	the consent or knowledge or lack of consent or knowledge,
of the Chargee, any person of any event described in clause 14.2(b); or

	 	(ii)	 	any rule of law or equity to the contrary.

14.3 No competition

	 	(a)	 	Until the Secured Moneys have been Finally Paid to the satisfaction of the
Chargee and the Securities have been discharged, the Chargor is not entitled to:

	 	(i)	 	be subrogated to the Chargee;

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	 	(ii)	 	claim or receive the benefit of:

	 	(A)	 	any Security Interest, guarantee (including
any Loan Document) or other document or agreement of which the Chargee
has the benefit;

	 	(B)	 	any moneys held by the Chargee; or

	 	(C)	 	any Power;

	 	(iii)	 	raise any defence or counterclaim in reduction or
discharge of its obligations under the Loan Documents; or

	 	(b)	 	raise any defence or counterclaim in reduction or discharge of its
obligations under the Loan Documents. The Chargor must not do or seek, attempt or
purport to do anything referred to in clause 14.3.

15 Saving provisions

15.1 Amounts payable on demand

	 	 	If any amount payable by the Chargor under this Deed is not expressed to be payable on a
specified date or within a specified time period that amount is payable by the Chargor
promptly upon request by the Chargee.

15.2 Statutory powers

	 	(a)	 	The powers of the Chargee under this Deed are in addition to any powers the
Chargee has under applicable law.

	 	(b)	 	Subject to the terms of the Loan Documents, to the extent not prohibited by
law, before enforcing the Charge, or exercising any Power, an Enforcing Party is not
required to give any notice or allow the expiration of any time to any person.

15.3 Continuing security

	 	 	The Charge is a continuing security notwithstanding any settlement of account or any other
thing until the Chargee has given a discharge of the Charge in respect of all the Secured
Property under clause 3.

15.4 No merger of security

	 	(a)	 	Nothing in this Deed merges, extinguishes, postpones, lessens or otherwise
prejudicially affects:

	 	(i)	 	any Security Interest in favour of the Chargee at any time;

	 	(ii)	 	any indemnity in favour of the Chargee contained in any
Loan Document; or

	 	(iii)	 	any right, power, authority, discretion or remedy which
the Chargee may have against the Chargor or any other person at any time.

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	 	(b)	 	No other Security Interest including, but not limited to, any Security
Interest held by the Chargee in any way prejudicially affects any right, power,
authority, discretion or remedy of the Chargee under this Deed.

15.5 Exclusion of moratorium

	 	 	To the extent not excluded by law, a provision of any legislation which at any time directly
or indirectly:

	 	(a)	 	lessens or otherwise varies or affects in favour of the Chargor any
obligations under this Deed; or

	 	(b)	 	stays, postpones or otherwise prevents or prejudicially affects the
exercise of any Power,

	 	 	is negatived and excluded from this Deed and all relief and protection conferred on the
Chargor by or under that legislation is also negatived and excluded so far as is permitted
by law.

15.6 Conflict

	 	 	Where any Power of an Enforcing Party under this Deed or any other Security is inconsistent
with the powers conferred by applicable law then, to the extent not prohibited by that law,
the powers conferred by applicable law are regarded as negatived or varied to the extent of
the inconsistency.

15.7 Completion of blank securities

	 	 	Subject to the terms of the Loan Documents, at any time after the Charge has become
enforceable, the Enforcing Party or any Authorised Officer of the Chargee may complete, in
favour of the Chargee, any appointee of the Chargee or any purchaser, any instrument
executed in blank by or on behalf of the Chargor and deposited with the Chargee as security
under this Deed.

15.8 Principal obligations

	 	 	This Deed is:

	 	(a)	 	a principal obligation and is not ancillary or collateral to any other
Security Interest (other than a Permitted Security Interest) or other obligation
however created; and

	 	(b)	 	independent of, and unaffected by, any other Security Interest or other
obligation however created which the Chargee may hold at any time in respect of the
Secured Moneys.

15.9 No obligation to marshal

	 	(a)	 	The doctrine of marshalling does not apply to the Chargee or the Chargor or
in relation to the exercise of any Power.

	 	(b)	 	The Chargee is not required before or after it enforces the Charge:

	 	(i)	 	to enforce any Security Interest held, at any time, by the
Chargee; or

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	 	(ii)	 	to appropriate or recover any moneys or assets that the
Chargee, at any time, holds or is entitled to receive.

15.10 Certificates

	 	 	A certificate signed by an Authorised Officer of the Chargee stating:

	 	(a)	 	the amount of the Secured Moneys due and payable; or

	 	(b)	 	the amount of the Secured Moneys, whether currently due and payable or not,

	 	 	is conclusive evidence of that amount at the date stated on the certificate or failing that
as at the date of that certificate unless the contrary is proved.

15.11 Chargee’s receipts

	 	(a)	 	The receipt of any Authorised Officer of the Chargee for any money payable
to or received by the Chargee under this Deed exonerates the payer from all Liability
to enquire whether any of the Secured Moneys has become due and payable.

	 	(b)	 	Every receipt of an officer of the Chargee effectually discharges the payer
from:

	 	(i)	 	any future Liability to pay the amount specified in the
receipt; and

	 	(ii)	 	being concerned to see the application of, or being
answerable or accountable for any loss or misapplication of, the amount
specified in the receipt.

16 Reinstatement of rights

	 	 	If, under any law relating to insolvency, a person claims that a transaction
(including a payment) in connection with this Charge or the Secured Moneys is void or
voidable and the claim is upheld, conceded or comprised, then:

	 	(a)	 	the Chargee is immediately entitled as against the Chargor to the rights in
respect of the Secured Moneys to which they were entitled immediately before the
transaction; and

	 	(b)	 	on request from the Chargee, the Chargor agrees to do anything (including
signing any document) to restore to the Chargee, any Security Interest (including this
Charge) held by it from the Chargor on account of the Secured Moneys immediately before
the transaction.

17 Notices

	 	 	Section 9.01 of the Credit Agreement will apply with respect to all notices,
requests, demands, consents, approvals, offers, agreements or other communications
(“notices”) given by a party under or in connection with this Deed, and the address for
service for all notices to the Chargor shall be given to it care of the Borrowers.

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18 PPS Act

18.1 PPS Act

	 	 	Without limiting clause 5.3, the Chargor agrees to make such amendments to the Loan
Documents (to which it is a party), and to do such other things, as the Chargee may require
from time to time (whether before or after the registration commencement time) to:

	 	(a)	 	ensure that any security interest granted to the Chargee is a first-ranking
perfected security interest over all PPS property (except to the extent otherwise
agreed in writing by the Chargee);

	 	(b)	 	ensure that any security interest granted to the Chargee is perfected by
control to the extent possible under the PPS Act; and

	 	(c)	 	otherwise protect the Chargee’s position under any security interest in the
context of the PPS Act.

18.2 Definitions

	 	 	In this clause 18:

	 	(a)	 	PPS Act means the Personal Property Securities Act 2009 (Cth);

	 	(b)	 	PPS property means all property over which the Chargor is legally capable
under the PPS Act of granting a security interest; and

	 	(c)	 	terms have the meanings given to them in the PPS Act.

18.3 Further actions

	 	 	The Chargee may, at the Chargor’s cost, do anything which that Chargor should have done
under this Deed if the Chargor does not do so within the time period specified, or if none
specified, promptly; or if in the Chargee’s reasonable opinion, the Chargor does not do so
properly.

19 General

19.1 Governing law and jurisdiction

	 	(a)	 	This Deed is governed by the laws of Victoria.

	 	(b)	 	The Chargor irrevocably submits to the non-exclusive jurisdiction of the
courts of Victoria.

	 	(c)	 	The Chargor irrevocably waives any objection to the venue of any legal
process on the basis that the process has been brought in an inconvenient forum.

	 	(d)	 	The Chargor irrevocably waives any immunity in respect of its obligations
under this Deed that it may acquire from the jurisdiction of any court or any legal
process for

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	 	 	 	any reason including, but not limited to, the service of notice, attachment before
judgment, attachment in aid of execution or execution.

19.2 Waivers

	 	(a)	 	Waiver of any right arising from a breach of this Deed or of any Power
arising upon default under this Deed or upon the occurrence of an Event of Default must
be in writing and signed by the party granting the waiver.

	 	(b)	 	A failure or delay in exercise, or partial exercise, by the Chargee or any
other Enforcing Party of:

	 	(i)	 	a right arising from a breach of this Deed or the
occurrence of an Event of Default; or

	 	(ii)	 	a Power created or arising upon default under this Deed or
upon the occurrence of an Event of Default,

          does not result in a waiver of that right or Power.

	 	(c)	 	The Chargor is not entitled to rely on a delay in the exercise or
non-exercise of a right or Power arising from a breach of this Deed or on a default
under this Deed or on the occurrence of an Event of Default as constituting a waiver of
that right or Power.

	 	(d)	 	The Chargor may not rely on any conduct of an Enforcing Party as a defence
to exercise of a right or Power by that Enforcing Party.

	 	(e)	 	This clause may not itself be waived except by writing.

19.3 Variation

	 	 	A variation of any term of this Deed must be in writing and signed by the parties.

19.4 Cumulative rights

	 	 	The Powers are cumulative and do not exclude any other right, power, authority, discretion
or remedy of any Enforcing Party.

19.5 Assignment

	 	(a)	 	The Chargee may assign its rights under this Deed without the consent of
the Chargor.

	 	(b)	 	The Chargor may not assign any of its rights under this Deed without the
prior written consent of the Chargee.

19.6 Attorneys

	 	 	Each of the attorneys executing this Deed states that the attorney has no notice of the
revocation of the power of attorney appointing that attorney.

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19.7 Electronic delivery of document

	 	 	If a party delivers an executed counterpart of this Deed or any other document executed in
connection with it (“Relevant Document”) by facsimile or other electronic means:

	 	(a)	 	the delivery will be deemed to be an effective delivery of an originally
executed counterpart; and

	 	(b)	 	the party will still be obliged to deliver an originally executed
counterpart, but the failure to do so will not effect the validity or effectiveness of
the Relevant Document.

19.8 Counterparts

	 	 	This Deed may be executed in any number of counterparts and all counterparts taken together
shall constitute one and the same instrument.

19.9 Inconsistency

	 	 	In the event there is any inconsistency between:

		 	(a) the provisions of this Deed; and

		 	(b) the provisions of the Credit Agreement,

	 	 	the provisions of the Credit Agreement prevail to the extent of the inconsistency.

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EXECUTED as a DEED

	 	 	 	 	 	 	 

	SIGNED, SEALED AND

	 	 	)	 	 	 
	DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorney for PTI HOLDING

	 	 	)	 	 	 
	COMPANY 2 PTY LIMITED

	 	 	)	 	 	 
	ACN 146 700 487 under power of

	 	 	)	 	 	 
	attorney dated

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	 	 	 	 
	Signature of witness

	 	 	)	 	 	By executing this deed the
attorney states that the attorney has received no notice of revocation of the power of attorney
	 
 

	 	 	 	 	 	 
	Name of witness (block letters)
	 	 	 	 	 	 

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ROYAL BANK OF CANADA, in its capacity
 as the
Canadian administrative agent and 
Canadian
collateral agent for and on behalf of 
the
Canadian Secured Parties

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

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EXHIBIT G-1

[Form of]

AMENDED AND RESTATED U.S. SUBSIDIARY GUARANTEE AGREEMENT

     AMENDED AND RESTATED U.S. SUBSIDIARY GUARANTEE AGREEMENT (as supplemented from time to time,
this “Agreement”) dated as of December 10, 2010, among each of the Subsidiaries listed on Schedule
I hereto (each such subsidiary individually, a “Subsidiary Guarantor” and collectively, the
“Subsidiary Guarantors”) of OIL STATES INTERNATIONAL, INC., a Delaware corporation (the “U.S.
Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral agent (in such capacity, the
“U.S. Collateral Agent”) for the Secured Parties (as defined in the U.S. Security Agreement).

     Reference is made to the Amended and Restated Credit Agreement dated as of December 10, 2010
(as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd. (“PTI
Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together with
the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto (the “Lenders”),
Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and U.S. Collateral Agent, and Royal Bank of Canada
(“RBC”), as administrative agent and Canadian Collateral Agent for the Canadian Lenders.
Capitalized terms used herein and not defined herein shall have the meanings assigned to such terms
in the Credit Agreement.

     The Subsidiary Guarantors and the U.S. Collateral Agent are parties to that certain U.S.
Subsidiary Guarantee Agreement dated as of October 30, 2003 (as heretofore amended, restated and
otherwise modified, the “Existing U.S. Subsidiary Guarantee Agreement”).

     The Lenders have agreed to make Loans to the Borrowers, and the Issuing Banks have agreed to
issue Letters of Credit for the account of the Borrowers, pursuant to, and upon the terms and
subject to the conditions specified in, the Credit Agreement. Each of the Subsidiary Guarantors is
a Domestic Subsidiary of the U.S. Borrower and acknowledges that it will derive substantial benefit
from the making of the Loans by the Lenders, and the issuance of the Letters of Credit by the
Issuing Banks. The obligations of the Lenders to make Loans and of the Issuing Banks to issue
Letters of Credit are conditioned upon, among other things, the execution and delivery by the
Subsidiary Guarantors of a Subsidiary Guarantee Agreement in the form hereof. As consideration
therefor and in order to induce the Lenders to make Loans and the Issuing Banks to issue Letters of
Credit, the Subsidiary Guarantors are willing to execute this Agreement.

     Accordingly, the parties hereto (a) agree that the Existing U.S. Subsidiary Guarantee
Agreement is amended and restated in its entirety by this Agreement and (b) further agree as
follows:

     SECTION 1. Guarantee. Each Subsidiary Guarantor unconditionally and irrevocably guarantees,
jointly with the other Subsidiary Guarantors and severally, as a primary obligor and not merely as
a surety, (a) the due and punctual payment by the Borrowers of (i) the principal of

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

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and premium, if any, and interest (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration,
upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by
the Borrowers under the Credit Agreement in respect of any Letter of Credit, when and as due,
including payments in respect of reimbursement of disbursements, interest thereon and obligations
to provide cash collateral and (iii) all other monetary obligations, including fees, costs,
expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise
(including monetary obligations incurred during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such
proceeding), of the Borrowers to the Secured Parties under this Agreement, the Credit Agreement and
the other Loan Documents, (b) the due and punctual performance of all covenants, agreements,
obligations and liabilities of the Borrowers under or pursuant to the Credit Agreement and the
other Loan Documents, (c) the due and punctual payment and performance of all covenants,
agreements, obligations and liabilities of each Loan Party under or pursuant to this Agreement and
the other Loan Documents, (d) the due and punctual payment and performance of all obligations of
either Borrower, monetary or otherwise, under each Hedging Agreement entered into with a
counterparty that was a Lender (or an affiliate of a Lender) at the time such Hedging Agreement was
entered into and (e) the due and punctual performance of all Banking Services Obligations provided
to the Borrowers or any Subsidiary by any Lender or any Affiliate of a Lender (all the monetary and
other obligations referred to in the preceding lettered clauses of this paragraph being referred to
collectively as the “Obligations”). Each Subsidiary Guarantor further agrees that the Obligations
may be extended, renewed or increased, in whole or in part, without notice to or further assent
from it, and that it will remain bound upon its guarantee notwithstanding any extension, renewal or
increase of any Obligation.

     SECTION 2. Obligations Not Waived. To the fullest extent permitted by applicable law, each
Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrowers of
any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest
for nonpayment. To the fullest extent permitted by applicable law, the obligations of each
Subsidiary Guarantor hereunder shall not be affected by (a) the failure of the U.S. Collateral
Agent or any other Secured Party to assert any claim or demand or to enforce or exercise any right
or remedy against the Borrowers or any Subsidiary Guarantor under the provisions of the Credit
Agreement, any other Loan Document or otherwise, (b) any rescission, waiver, amendment or
modification of, or any release from any of the terms or provisions of this Agreement, any other
Loan Document, any Guarantee or any other agreement, including with respect to any other Subsidiary
Guarantor under this Agreement, (c) the failure to perfect any security interest in, or the release
of, any of the security held by or on behalf of the U.S. Collateral Agent or any other Secured
Party, or (d) any other defenses that might otherwise be available to a surety or a guarantor
(other than the indefeasible payment in full in cash of the Obligations).

     SECTION 3. Security. Each of the Subsidiary Guarantors authorizes the U.S. Collateral Agent
to (a) take and hold security for the payment of this Guarantee and the Obligations and exchange,
enforce, waive and release any such security, (b) apply such security and direct the order or
manner of sale thereof as it in its sole discretion may determine and (c) release or substitute any
one or more endorsees, other guarantors or other obligors.

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     SECTION 4. Guarantee of Payment. Each Subsidiary Guarantor further agrees that its
guarantee constitutes a guarantee of payment when due and not of collection, and waives any right
to require that any resort be had by the U.S. Collateral Agent or any other Secured Party to any of
the security held for payment of the Obligations or to any balance of any deposit account or credit
on the books of the U.S. Collateral Agent or any other Secured Party in favor of any Borrower or
any other person.

     SECTION 5. No Discharge or Diminishment of Guarantee. The obligations of each Subsidiary
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination
for any reason (other than the indefeasible payment in full in cash of the Obligations), including
any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and
shall not be subject to any defense (other than a defense of payment) or setoff, counterclaim,
recoupment or termination whatsoever 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 hereunder shall not be discharged or impaired or otherwise affected by
the failure of the U.S. Collateral Agent or any other Secured Party to assert any claim or demand
or to enforce any remedy under the Credit Agreement, any other Loan Document or any other
agreement, by any waiver or modification of any provision thereof, by any default, failure or
delay, wilful or otherwise, in the performance of the Obligations, or by any other act or omission
that may or might in any manner or to any extent vary the risk of any Subsidiary Guarantor or that
would otherwise operate as a discharge of each Subsidiary Guarantor as a matter of law or equity
(other than the indefeasible payment in full in cash of all the Obligations). Notwithstanding
anything contained herein to the contrary, it is the intention of each Subsidiary Guarantor, the
U.S. Collateral Agent and the other Secured Parties that the amount of the Obligations guaranteed
by each Subsidiary Guarantor shall be in, but not in excess of, the maximum amount permitted by
fraudulent conveyance, fraudulent transfer and other similar law, rule or regulation of any
Governmental Authority applicable to such Subsidiary Guarantor. Accordingly, notwithstanding
anything to the contrary contained in this Agreement or in any other agreement or instrument
executed in connection with the payment of any of the Obligations, the amount of the Obligations
guaranteed by each Subsidiary Guarantor under this Agreement shall be limited to an aggregate
amount equal to the largest amount that would not render such Subsidiary Guarantor’s obligations
hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provision of any other applicable Insolvency Law or other law, rule or regulation of any
Governmental Authority.

     SECTION 6. Defenses of Borrowers Waived. To the fullest extent permitted by applicable law,
each of the Subsidiary Guarantors waives any defense based on or arising out of any defense of the
Borrowers or the unenforceability of the Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of the Borrowers, other than the final and indefeasible
payment in full in cash of the Obligations. The U.S. Collateral Agent and the other Secured
Parties may, at their election, foreclose on any security held by one or more of them by one or
more judicial or nonjudicial sales, accept an assignment of any such security in lieu of
foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with
the Borrowers or any other guarantor or exercise any other right or remedy available to them
against the Borrowers or any other guarantor, without affecting or impairing in
any way the liability of any Subsidiary Guarantor hereunder except to the extent the
Obligations have been fully, finally and indefeasibly paid in cash. Pursuant to applicable law,
each of the

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Subsidiary Guarantors waives any defense arising out of any such election even though
such election operates, pursuant to applicable law, to impair or to extinguish any right of
reimbursement or subrogation or other right or remedy of such Subsidiary Guarantor against a
Borrower or any other Subsidiary Guarantor or guarantor, as the case may be, or any security.
There are no conditions precedent to the enforcement of this Agreement, except as expressly
contained herein. It shall not be necessary for the U.S. Collateral Agent or the other Secured
Parties, in order to enforce payment by any Subsidiary Guarantor under this Agreement, to show any
proof of a Borrower’s default, to exhaust the U.S. Collateral Agent or the other Secured Parties’
remedies against the Borrowers, any other guarantor, or any other Person liable for the payment or
performance of the Obligations or to enforce any other means of obtaining payment or performance of
the Obligations. The U.S. Collateral Agent and the other Secured Parties shall not be required to
mitigate damages or take any other action to reduce, collect, or enforce the Obligations.

     SECTION 7. Agreement to Pay. In furtherance of the foregoing and not in limitation of any
other right that the U.S. Collateral Agent or any other Secured Party has at law or in equity
against any Subsidiary Guarantor by virtue hereof, upon the failure of a Borrower or any other Loan
Party to pay any Obligation when and as the same shall become due, whether at maturity, by
acceleration, after notice of prepayment or otherwise, each Subsidiary Guarantor hereby promises to
and will forthwith pay, or cause to be paid, to the U.S. Collateral Agent or such other Secured
Party as designated thereby in cash the amount of such unpaid Obligations.

     SECTION 8. Indemnity, Subrogation, Contribution and Subordination. (a) In addition to all
such rights of indemnity and subrogation as the Subsidiary Guarantors may have under applicable law
(but subject to paragraph (c) below), the Borrowers agree that (i) in the event a payment shall be
made by any Subsidiary Guarantor under this Agreement, the Borrowers shall indemnify such
Subsidiary Guarantor for the full amount of such payment and such Subsidiary Guarantor shall be
subrogated to the rights of the person to whom such payment shall have been made to the extent of
such payment and (ii) in the event any assets of any Subsidiary Guarantor shall be sold pursuant to
any Security Document to satisfy a claim of any Secured Party, the Borrowers shall indemnify such
Subsidiary Guarantor in an amount equal to the greater of the book value or the fair market value
of the assets so sold.

     (b) Each Subsidiary Guarantor (a “Contributing Guarantor”) agrees (subject to paragraph (c)
below) that, in the event a payment shall be made by any other Subsidiary Guarantor under the U.S.
Subsidiary Guarantee Agreement or assets of any other Subsidiary Guarantor shall be sold pursuant
to any Security Document to satisfy a claim of any Secured Party and such other Subsidiary
Guarantor (the “Claiming Subsidiary Guarantor”) shall not have been fully indemnified by the
Borrowers as provided in paragraph (a) above, the Contributing Subsidiary Guarantor shall indemnify
the Claiming Subsidiary Guarantor in an amount equal to the amount of such payment or the greater
of the book value or the fair market value of such assets, as the case may be, in each case
multiplied by a fraction of which the numerator shall be the net worth of the Contributing
Subsidiary Guarantor on the date hereof and the denominator shall be the aggregate net worth of all
the Subsidiary Guarantors on the date hereof (or, in the case of any Subsidiary Guarantor becoming
a party hereto pursuant to Section 21, the date of the
Supplement hereto executed and delivered by such Subsidiary Guarantor). Any Contributing
Subsidiary Guarantor making any payment to a Claiming Subsidiary Guarantor pursuant to this

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 4

 

paragraph (b) shall be subrogated to the rights of such Claiming Subsidiary Guarantor under
paragraph (a) above to the extent of such payment.

     (c) Notwithstanding any provision of this Agreement to the contrary, all rights of the
Subsidiary Guarantors under paragraphs (a) and (b) above and all other rights of indemnity,
contribution or subrogation under applicable law or otherwise shall be fully subordinated to the
indefeasible payment in full in cash of the Obligations. No failure on the part of the Borrowers
or any Subsidiary Guarantor to make the payments required by paragraphs (a) and (b) above (or any
other payments required under applicable law or otherwise) shall in any respect limit the
obligations and liabilities of any Subsidiary Guarantor with respect to its obligations hereunder,
and each Subsidiary Guarantor shall remain liable for the full amount of its obligations hereunder.
In addition, any indebtedness of the Borrowers now or hereafter held by any Subsidiary Guarantor
is hereby subordinated in right of payment to the prior payment in full of the Obligations. If any
amount shall erroneously be paid to any Subsidiary Guarantor on account of (i) any subrogation,
contribution, reimbursement, indemnity or similar right or (ii) any such indebtedness of the
Borrowers while an Event of Default has occurred and is continuing, such amount shall be held in
trust for the benefit of the Secured Parties and shall forthwith be paid to the U.S. Collateral
Agent to be credited against the payment of the Obligations, whether matured or unmatured, in
accordance with the terms of the Loan Documents.

     SECTION 9. Information. Each of the Subsidiary Guarantors assumes all responsibility for
being and keeping itself informed of the Borrowers’ financial condition and assets, and of all
other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope
and extent of the risks that such Subsidiary Guarantor assumes and incurs hereunder, and agrees
that none of the U.S. Collateral Agent or the other Secured Parties will have any duty to advise
any of the Subsidiary Guarantors of information known to it or any of them regarding such
circumstances or risks.

     SECTION 10. Representations and Warranties. Each of the Subsidiary Guarantors represents and
warrants as to itself that all representations and warranties relating to it contained in the
Credit Agreement are true and correct in all material respects, except to the extent such
representations and warranties expressly relate to an earlier date. Each Subsidiary Guarantor has
determined that its guarantee hereunder is necessary and convenient to the conduct, promotion and
attainment of the business of such Subsidiary Guarantor and each Borrower.

     SECTION 11. Termination. The Guarantees made hereunder (a) shall terminate when all the
Obligations (other than wholly contingent indemnification obligations) then due and owing have been
indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit
Agreement, the Aggregate L/C Exposure has been reduced to zero and the Issuing Banks have no
further obligation to issue Letters of Credit under the Credit Agreement and (b) shall continue to
be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
any Obligation is rescinded or must otherwise be restored by any Secured Party or any Subsidiary
Guarantor upon the bankruptcy or reorganization of a Borrower, any Subsidiary Guarantor or
otherwise.

     SECTION 12. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any of
the parties hereto is referred to, such reference shall be deemed to include the

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 5

 

successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of the Subsidiary
Guarantors that are contained in this Agreement shall bind and inure to the benefit of each party
hereto and their respective successors and assigns. This Agreement shall become effective as to
any Subsidiary Guarantor when a counterpart hereof executed on behalf of such Subsidiary Guarantor
shall have been delivered to the U.S. Collateral Agent, and a counterpart hereof shall have been
executed on behalf of the U.S. Collateral Agent, and thereafter shall be binding upon such
Subsidiary Guarantor and the U.S. Collateral Agent and their respective successors and assigns, and
shall inure to the benefit of such Subsidiary Guarantor, the U.S. Collateral Agent and the other
Secured Parties, and their respective successors and assigns, except that no Subsidiary Guarantor
shall have the right to assign its rights or obligations hereunder or any interest herein (and any
such attempted assignment shall be void). If all of the capital stock of a Subsidiary Guarantor is
sold, transferred or otherwise disposed of pursuant to a transaction permitted by Section 6.05 of
the Credit Agreement, such Subsidiary Guarantor shall be released from its obligations under this
Agreement without further action. This Agreement shall be construed as a separate agreement with
respect to each Subsidiary Guarantor and may be amended, modified, supplemented, waived or released
with respect to any Subsidiary Guarantor without the approval of any other Subsidiary Guarantor and
without affecting the obligations of any other Subsidiary Guarantor hereunder.

     SECTION 13. Waivers; Amendment. (a) No failure or delay of the U.S. Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the U.S. Collateral Agent hereunder and of
the other Secured Parties under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by any Subsidiary Guarantor therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) below, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. No
notice or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to
any other or further notice or demand in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the Subsidiary Guarantors with respect to
which such waiver, amendment or modification relates and the U.S. Collateral Agent, with the prior
written consent of the Required Lenders (except as otherwise provided in the Credit Agreement).

     SECTION 14. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 15. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to
each Subsidiary Guarantor shall be given to it in care of the U.S. Borrower.

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 6

 

     SECTION 16. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by the Subsidiary Guarantors herein and in the certificates or
other instruments prepared or delivered in connection with or pursuant to this Agreement or any
other Loan Document shall be considered to have been relied upon by the U.S. Collateral Agent and
the other Secured Parties and shall survive the making by the Lenders of the Loans and the issuance
of the Letters of Credit by the Issuing Banks regardless of any investigation made by the Secured
Parties or on their behalf, and shall continue in full force and effect as long as the principal of
or any accrued interest on any Loan or any other fee or amount payable under this Agreement or any
other Loan Document is outstanding and unpaid or the Aggregate L/C Exposure does not equal zero and
as long as the Commitments and the commitment of the Issuing Banks to issue Letters of Credit have
not been terminated.

     (b) In the event any one or more of the provisions contained in this Agreement or in any other
Loan Document should be held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein and therein shall not in
any way be affected or impaired thereby (it being understood that the invalidity of a particular
provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 17. Counterparts. This Agreement may be executed in counterparts, each of which shall
constitute an original, but all of which when taken together shall constitute a single contract,
and shall become effective as provided in Section 12. Delivery of an executed signature page to
this Agreement by fax transmission shall be as effective as delivery of a manually executed
counterpart of this Agreement.

     SECTION 18. Rules of Interpretation. The rules of interpretation specified in Section 1.02 of
the Credit Agreement shall be applicable to this Agreement.

     SECTION 19. Jurisdiction; Consent to Service of Process. (a) Each Subsidiary Guarantor
hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of any New York State court or Federal court of the United States of America sitting
in the Borough of Manhattan, New York and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such Federal court. Each
of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that the U.S. Collateral
Agent or any other Secured Party may otherwise have to bring any action or proceeding relating to
this Agreement or the other Loan Documents against any Subsidiary Guarantor or its properties in
the courts of any jurisdiction.

     (b) Each Subsidiary Guarantor hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection that it may now or hereafter have

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 7

 

to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement or the other Loan Documents in any New York State or Federal court. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 15. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 20. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE,
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 20.

     SECTION 21. Additional Subsidiary Guarantors. Pursuant to Section 5.09 of the Credit
Agreement, each Domestic Subsidiary that is a Material Subsidiary of the U.S. Borrower that was not
a Material Subsidiary on the date of the Credit Agreement is required to enter into this Agreement
as a Subsidiary Guarantor. Upon execution and delivery after the date hereof by the U.S.
Collateral Agent and such Domestic Subsidiary of an instrument in the form of Annex 1, such
Domestic Subsidiary shall become a Subsidiary Guarantor hereunder with the same force and effect as
if originally named as a Subsidiary Guarantor herein. The execution and delivery of any instrument
adding an additional Subsidiary Guarantor as a party to this Agreement shall not require the
consent of any other Subsidiary Guarantor hereunder. The rights and obligations of each Subsidiary
Guarantor hereunder shall remain in full force and effect notwithstanding the addition of any new
Subsidiary Guarantor as a party to this Agreement.

     SECTION 22. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Secured Party is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other Indebtedness at any time owing by such Secured
Party to or for the credit or the account of any Subsidiary Guarantor against any or all the
obligations of such Subsidiary Guarantor now or hereafter existing under this Agreement and the
other Loan Documents held by such Secured Party, irrespective of whether or not such Secured Party
shall have made any demand under this Agreement or any other Loan Document and although such
obligations may be unmatured. The rights of each Secured Party under this Section 22 are in
addition to other rights and remedies (including other rights of setoff) which such Secured Party
may have.

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 8

 

     (a) Fraudulent Transfer Laws. Anything contained in this Agreement to the contrary
notwithstanding, the obligations of each Subsidiary Guarantor under this Agreement on any date
shall be limited to a maximum aggregate amount equal to the largest amount that would not, on such
date, render its obligations hereunder subject to avoidance as a fraudulent transfer or conveyance
under Section 548 of the Bankruptcy Code of the United States or any applicable provisions of
comparable laws relating to bankruptcy, insolvency, or reorganization, or relief of debtors.

     SECTION 23. Amendment and Restatement. The Subsidiary Guarantors and the U.S. Collateral
Agent have agreed that this Agreement is an amendment and restatement of the Existing U.S.
Subsidiary Guarantee Agreement in its entirety and the terms and provisions hereof supersede the
terms and provisions thereof, and this Agreement is not a new or substitute agreement or novation
of the Existing U.S. Subsidiary Guarantee Agreement.

[Remainder of this page intentionally left blank. Signature page follows.]

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 9

 

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	 	[EACH OF THE SUBSIDIARY
GUARANTORS LISTED 
ON
SCHEDULE I HERETO]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as U.S.
Collateral Agent,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 10

 

Schedule I to the

Amended and Restated

U.S. Subsidiary Guarantee Agreement

Subsidiary Guarantors

Acute Technological Services, Inc.

Capstar Drilling GP, L.L.C.

Capstar Drilling, Inc.

Capstar Drilling LP, L.L.C.

Capstar Holding, L.L.C.

General Marine Leasing, LLC

Oil States Energy Services, Inc.

Oil States Industries, Inc.

Oil States Management, Inc.

Oil States Skagit SMATCO, LLC

PTI Group USA LLC

PTI Mars Holdco 1, LLC

Sooner Holding Company

Sooner, Inc.

Sooner Pipe, L.L.C.

Specialty Rental Tools & Supply, L.L.C.

Stinger Wellhead Protection, Inc.

Well Testing, Inc.

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 11

 

Annex 1 to the

Amended and Restated

U.S. Subsidiary Guarantee Agreement

     SUPPLEMENT NO. ____ dated as of [_______] (the “Supplement”), to the Amended and Restated U.S.
Subsidiary Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise
modified from time to time, the “U.S. Subsidiary Guarantee Agreement”), among each of the
subsidiaries listed on Schedule I thereto (each such subsidiary individually, a “Subsidiary
Guarantor” and collectively, the “Subsidiary Guarantors”) of OIL STATES INTERNATIONAL, INC., a
Delaware corporation (the “U.S. Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as
collateral agent (the “U.S. Collateral Agent”) for the Secured Parties (as defined in the U.S.
Security Agreement).

     A. Reference is made to the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd.
(“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and Collateral Agent, and Royal Bank of Canada (“RBC”), as
administrative agent and collateral agent for the Canadian Lenders.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the U.S. Subsidiary Guarantee Agreement and the Credit Agreement.

     C. The Subsidiary Guarantors have entered into the U.S. Subsidiary Guarantee Agreement in
order to induce the Lenders to make Loans and the Issuing Banks to issue Letters of Credit.
Pursuant to Section 5.09 of the Credit Agreement, each Domestic Subsidiary that is a Material
Subsidiary of the U.S. Borrower that was not a Material Subsidiary on the date of the Credit
Agreement is required to enter into the U.S. Subsidiary Guarantee Agreement as a Subsidiary
Guarantor. Section 21 of the U.S. Subsidiary Guarantee Agreement provides that additional Domestic
Subsidiaries of the U.S. Borrower may become Subsidiary Guarantors under the U.S. Subsidiary
Guarantee Agreement by execution and delivery of an instrument in the form of this Supplement. The
undersigned Domestic Subsidiary of the U.S. Borrower (the “New Subsidiary Guarantor”) is executing
this Supplement in accordance with the requirements of the Credit Agreement to become a Subsidiary
Guarantor under the U.S. Subsidiary Guarantee Agreement in order to induce the Lenders to make
additional Loans and the Issuing Banks to issue additional Letters of Credit and as consideration
for Loans previously made and Letters of Credit previously issued.

     Accordingly, the U.S. Collateral Agent and the New Subsidiary Guarantor agree as follows:

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 12

 

     SECTION 1. In accordance with Section 21 of the U.S. Subsidiary Guarantee Agreement, the New
Subsidiary Guarantor by its signature below becomes a Subsidiary Guarantor under the U.S.
Subsidiary Guarantee Agreement with the same force and effect as if originally named therein as a
Subsidiary Guarantor and the New Subsidiary Guarantor hereby (a) agrees to all the terms and
provisions of the U.S. Subsidiary Guarantee Agreement applicable to it as a Subsidiary Guarantor
thereunder and (b) represents and warrants that the representations and warranties made by it as a
Subsidiary Guarantor thereunder are true and correct in all material respects on and as of the date
hereof. Each reference to a “Subsidiary Guarantor” in the U.S. Subsidiary Guarantee Agreement
shall be deemed to include the New Subsidiary Guarantor. The U.S. Subsidiary Guarantee Agreement
is hereby incorporated herein by reference.

     SECTION 2. The New Subsidiary Guarantor represents and warrants to the U.S. Collateral Agent
and the other Secured Parties that this Supplement has been duly authorized, executed and delivered
by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance
with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar
laws affecting creditors’ rights generally and subject, as to enforceability, to equitable
principles of general application (regardless of whether enforcement is sought in a proceeding in
equity or at law)).

     SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. This Supplement
shall become effective when the U.S. Collateral Agent shall have received counterparts of this
Supplement that, when taken together, bear the signatures of the New Subsidiary Guarantor and the
U.S. Collateral Agent. Delivery of an executed signature page to this Supplement by fax
transmission shall be as effective as delivery of a manually executed counterpart of this
Supplement.

     SECTION 4. Except as expressly supplemented hereby, the U.S. Subsidiary Guarantee Agreement
shall remain in full force and effect.

     SECTION 5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

     SECTION 6. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions contained herein and in the U.S. Subsidiary Guarantee Agreement shall not
in any way be affected or impaired thereby (it being understood that the invalidity of a particular
provision hereof in a particular jurisdiction shall not in and of itself affect the validity of
such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions.

     SECTION 7. All communications and notices hereunder shall be in writing and given as provided
in Section 15 of the U.S. Subsidiary Guarantee Agreement. All communications and

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 13

 

notices hereunder
to the New Subsidiary Guarantor shall be given to it at the address set forth under its signature
below, with a copy to the U.S. Borrower.

     SECTION 8. The New Subsidiary Guarantor agrees to reimburse the U.S. Collateral Agent for its
reasonable out-of-pocket expenses in connection with this Supplement, including the fees,
disbursements and other charges of counsel for the U.S. Collateral Agent.

     IN WITNESS WHEREOF, the New Subsidiary Guarantor and the U.S. Collateral Agent have duly
executed this Supplement to the U.S. Subsidiary Guarantee Agreement as of the day and year first
above written.

	 	 	 	 	 
	 	[Name Of New Subsidiary Guarantor],

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	Address: 	 	 
	 
	 	WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as U.S.
Collateral Agent,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit G-1 — Form of Amended and Restated U.S. Subsidiary Guarantee Agreement

Page 14

 

EXHIBIT G-2

[Form of]

AMENDED AND RESTATED

CANADIAN SUBSIDIARY GUARANTEE AGREEMENT

     AMENDED AND RESTATED CANADIAN SUBSIDIARY GUARANTEE AGREEMENT (this “Agreement”) dated as of
December 10, 2010, among each of the Subsidiaries listed on Schedule I hereto (each such subsidiary
individually, a “Subsidiary Guarantor” and collectively, the “Subsidiary Guarantors”) of PTI GROUP
INC., a corporation amalgamated under the laws of the Province of Alberta (the “Canadian Parent”),
PTI Premium Camp Services Ltd., a corporation amalgamated under the laws of the Province of Alberta
(“PTI Premium” and, together with the Canadian Parent, the “Canadian Borrowers”) and ROYAL BANK OF
CANADA (“RBC”), as collateral agent (in such capacity, the “Canadian Collateral Agent”) for the
Secured Parties (as defined in the Canadian Security Agreement).

     Reference is made to the Amended and Restated Credit Agreement dated as of December 10, 2010
(as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the Canadian Borrowers, Oil States International, Inc. (the “U.S. Borrower” and, together with the
Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto (the “Lenders”),
Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and U.S. Collateral Agent, and Royal Bank of Canada, as
administrative agent and Canadian Collateral Agent for the Canadian Lenders. Capitalized terms
used herein and not defined herein shall have the meanings assigned to such terms in the Credit
Agreement.

     The Subsidiary Guarantors and The Bank of Nova Scotia, in its capacity as former Canadian
collateral agent, are parties to that certain Canadian Subsidiary Guarantee Agreement dated as of
October 30, 2003 (as heretofore amended, restated and otherwise modified, the “Existing Canadian
Subsidiary Guarantee Agreement”).

     The Canadian Lenders have agreed to make Canadian Loans to the Canadian Borrowers, and the
Issuing Banks have agreed to issue Canadian Letters of Credit for the account of the Canadian
Borrowers, pursuant to, and upon the terms and subject to the conditions specified in, the Credit
Agreement. Each of the Subsidiary Guarantors is a Subsidiary of the Canadian Borrowers and
acknowledges that it will derive substantial benefit from the making of the Canadian Loans by the
Canadian Lenders, and the issuance of the Canadian Letters of Credit by the Issuing Banks. The
obligations of the Canadian Lenders to make Canadian Loans and of the Issuing Banks to issue
Canadian Letters of Credit are conditioned upon, among other things, the execution and delivery by
the Subsidiary Guarantors of a Subsidiary Guarantee Agreement in the form hereof. As consideration
therefor and in order to induce the Canadian Lenders to make Canadian Loans and the Issuing Banks
to issue Canadian Letters of Credit, the Subsidiary Guarantors are willing to execute this
Agreement.

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 1

 

     Accordingly, the parties hereto (a) agree that the Existing Canadian Subsidiary Guarantee
Agreement is amended and restated in its entirety by this Agreement and (b) further agree as
follows:

     SECTION 1. Guarantee. Each Subsidiary Guarantor unconditionally and irrevocably guarantees,
jointly with the other Subsidiary Guarantors and severally, as a primary obligor and not merely as
a surety, (a) the due and punctual payment by each of the Canadian Borrowers of (i) the principal
of and premium, if any, and interest (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding) on the Canadian Loans, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to
be made by the Canadian Borrowers under the Credit Agreement in respect of any Canadian Letter of
Credit, when and as due, including payments in respect of reimbursement of disbursements, interest
thereon and obligations to provide cash collateral and (iii) all other monetary obligations,
including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent,
fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in
such proceeding), of the Canadian Borrowers to the Secured Parties under this Agreement, the Credit
Agreement and the other Loan Documents, (b) the due and punctual performance of all covenants,
agreements, obligations and liabilities of the Canadian Borrowers under or pursuant to the Credit
Agreement and the other Loan Documents, (c) the due and punctual payment and performance of all
covenants, agreements, obligations and liabilities of each Canadian Loan Party under or pursuant to
this Agreement and the other Loan Documents, (d) the due and punctual payment and performance of
all obligations of the Canadian Borrowers, monetary or otherwise, under each Hedging Agreement
entered into with a counterparty that was a Canadian Lender (or an affiliate of a Canadian Lender)
at the time such Hedging Agreement was entered into and (e) the due and punctual performance of
all Banking Services Obligations provided to the Canadian Borrowers or any Subsidiary by any Lender
or any Affiliate of a Lender (all the monetary and other obligations referred to in the preceding
lettered clauses of this paragraph being referred to collectively as the “Obligations”). Each
Subsidiary Guarantor further agrees that the Obligations may be extended, renewed or increased, in
whole or in part, without notice to or further assent from it, and that it will remain bound upon
its guarantee notwithstanding any extension, renewal or increase of any Obligation. If any or all
of the Obligations are not duly paid or performed by the Canadian Borrowers and are not recoverable
under the guarantee provided for in this Agreement for any reason, each Grantor will, as a separate
and distinct obligation, indemnify and save harmless the Canadian Collateral Agent and the Secured
Parties from and against all losses resulting from the failure of the Canadian Borrowers to pay and
perform such Obligations.

     SECTION 2. Obligations Not Waived. To the fullest extent permitted by applicable law, each
Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Canadian
Borrowers of any of the Obligations, and also waives notice of acceptance of its guarantee and
notice of protest for nonpayment. To the fullest extent permitted by applicable law, the
obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of the
Canadian Collateral Agent or any other Secured Party to assert any claim or demand or to enforce or
exercise any right or remedy against the Canadian Borrowers or any

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 2

 

Subsidiary Guarantor under the provisions of the Credit Agreement, any other Loan Document or
otherwise, (b) any rescission, waiver, amendment or modification of, or any release from any of the
terms or provisions of this Agreement, any other Loan Document, any Guarantee or any other
agreement, including with respect to any other Subsidiary Guarantor under this Agreement, (c) the
failure to perfect any security interest in, or the release of, any of the security held by or on
behalf of the Canadian Collateral Agent or any other Secured Party, or (d) any other defenses that
might otherwise be available to a surety or a guarantor (other than the indefeasible payment in
full in cash of the Obligations).

     SECTION 3. Security. Each of the Subsidiary Guarantors authorizes the Canadian Collateral
Agent to (a) take and hold security for the payment of this Guarantee and the Obligations and
exchange, enforce, waive and release any such security, (b) apply such security and direct the
order or manner of sale thereof as it in its sole discretion may determine and (c) release or
substitute any one or more endorsees, other guarantors or other obligors.

     SECTION 4. Guarantee of Payment. Each Subsidiary Guarantor further agrees that its guarantee
constitutes a guarantee of payment when due and not of collection, and waives any right to require
that any resort be had by the Canadian Collateral Agent or any other Secured Party to any of the
security held for payment of the Obligations or to any balance of any deposit account or credit on
the books of the Canadian Collateral Agent or any other Secured Party in favor of the Canadian
Borrowers or any other person.

     SECTION 5. No Discharge or Diminishment of Guarantee. The obligations of each Subsidiary
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination
for any reason (other than the indefeasible payment in full in cash of the Obligations), including
any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and
shall not be subject to any defense (other than a defense of payment) or setoff, counterclaim,
recoupment or termination whatsoever 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 hereunder shall not be discharged or impaired or otherwise affected by
the failure of the Canadian Collateral Agent or any other Secured Party to assert any claim or
demand or to enforce any remedy under the Credit Agreement, any other Loan Document or any other
agreement, by any waiver or modification of any provision thereof, by any default, failure or
delay, wilful or otherwise, in the performance of the Obligations, or by any other act or omission
that may or might in any manner or to any extent vary the risk of any Subsidiary Guarantor or that
would otherwise operate as a discharge of each Subsidiary Guarantor as a matter of law or equity
(other than the indefeasible payment in full in cash of all the Obligations).

     SECTION 6. Defenses of Canadian Borrower Waived. To the fullest extent permitted by
applicable law, each of the Subsidiary Guarantors waives any defense based on or arising out of any
defense of the Canadian Borrowers or the unenforceability of the Obligations or any part thereof
from any cause, or the cessation from any cause of the liability of the Canadian Borrowers, other
than the final and indefeasible payment in full in cash of the Obligations. The Canadian
Collateral Agent and the other Secured Parties may, at their election, foreclose on any security
held by one or more of them by one or more judicial or nonjudicial sales, accept an

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 3

 

assignment of any such security in lieu of foreclosure, compromise or adjust any part of the
Obligations, make any other accommodation with the Canadian Borrowers or any other guarantor or
exercise any other right or remedy available to them against the Canadian Borrowers or any other
guarantor, without affecting or impairing in any way the liability of any Subsidiary Guarantor
hereunder except to the extent the Obligations have been fully, finally and indefeasibly paid in
cash. Pursuant to applicable law, each of the Subsidiary Guarantors waives any defense arising out
of any such election even though such election operates, pursuant to applicable law, to impair or
to extinguish any right of reimbursement or subrogation or other right or remedy of such Subsidiary
Guarantor against the Canadian Borrowers or any other Subsidiary Guarantor or guarantor, as the
case may be, or any security.

     SECTION 7. Agreement to Pay. In furtherance of the foregoing and not in limitation of any
other right that the Canadian Collateral Agent or any other Secured Party has at law or in equity
against any Subsidiary Guarantor by virtue hereof, upon the failure of the Canadian Borrowers or
any other Canadian Loan Party to pay any Obligation when and as the same shall become due, whether
at maturity, by acceleration, after notice of prepayment or otherwise, each Subsidiary Guarantor
hereby promises to and will forthwith pay, or cause to be paid, to the Canadian Collateral Agent or
such other Secured Party as designated thereby in cash the amount of such unpaid Obligations.

     SECTION 8. Indemnity, Subrogation, Contribution and Subordination. (a) In addition to all
such rights of indemnity and subrogation as the Subsidiary Guarantors may have under applicable law
(but subject to paragraph (c) below), the Canadian Borrowers agree that (i) in the event a payment
shall be made by any Subsidiary Guarantor under this Agreement, the Canadian Borrowers shall
indemnify such Subsidiary Guarantor for the full amount of such payment and such Subsidiary
Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made
to the extent of such payment and (ii) in the event any assets of any Subsidiary Guarantor shall be
sold pursuant to any Security Document to satisfy a claim of any Secured Party, the Canadian
Borrowers shall indemnify such Subsidiary Guarantor in an amount equal to the greater of the book
value or the fair market value of the assets so sold.

     (b) Each Subsidiary Guarantor (a “Contributing Guarantor”) agrees (subject to paragraph (c)
below) that, in the event a payment shall be made by any other Subsidiary Guarantor under the
Canadian Subsidiary Guarantee Agreement or assets of any other Subsidiary Guarantor shall be sold
pursuant to any Security Document to satisfy a claim of any Secured Party and such other Subsidiary
Guarantor (the “Claiming Subsidiary Guarantor”) shall not have been fully indemnified by the
Canadian Borrowers as provided in paragraph (a) above, the Contributing Subsidiary Guarantor shall
indemnify the Claiming Subsidiary Guarantor in an amount equal to the amount of such payment or the
greater of the book value or the fair market value of such assets, as the case may be, in each case
multiplied by a fraction of which the numerator shall be the net worth of the Contributing
Subsidiary Guarantor on the date hereof and the denominator shall be the aggregate net worth of all
the Subsidiary Guarantors on the date hereof (or, in the case of any Subsidiary Guarantor becoming
a party hereto pursuant to Section 21, the date of the Supplement hereto executed and delivered by
such Subsidiary Guarantor). Any Contributing Subsidiary Guarantor making any payment to a Claiming
Subsidiary

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 4

 

Guarantor pursuant to this paragraph (b) shall be subrogated to the rights of such Claiming
Subsidiary Guarantor under paragraph (a) above to the extent of such payment.

     (c) Notwithstanding any provision of this Agreement to the contrary, all rights of the
Subsidiary Guarantors under paragraphs (a) and (b) above and all other rights of indemnity,
contribution or subrogation under applicable law or otherwise shall be fully subordinated to the
indefeasible payment in full in cash of the Obligations. No failure on the part of the Canadian
Borrowers or any Subsidiary Guarantor to make the payments required by paragraphs (a) and (b) above
(or any other payments required under applicable law or otherwise) shall in any respect limit the
obligations and liabilities of any Subsidiary Guarantor with respect to its obligations hereunder,
and each Subsidiary Guarantor shall remain liable for the full amount of its obligations hereunder.
In addition, any indebtedness of the Canadian Borrowers now or hereafter held by any Subsidiary
Guarantor is hereby subordinated in right of payment to the prior payment in full of the
Obligations. If any amount shall erroneously be paid to any Subsidiary Guarantor on account of (i)
any subrogation, contribution, reimbursement, indemnity or similar right or (ii) any such
indebtedness of the Canadian Borrowers while an Event of Default has occurred and is continuing,
such amount shall be held in trust for the benefit of the Secured Parties and shall forthwith be
paid to the Canadian Collateral Agent to be credited against the payment of the Obligations,
whether matured or unmatured, in accordance with the terms of the Loan Documents.

     SECTION 9. Information. Each of the Subsidiary Guarantors assumes all responsibility for
being and keeping itself informed of the Canadian Borrowers’ financial condition and assets, and of
all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature,
scope and extent of the risks that such Subsidiary Guarantor assumes and incurs hereunder, and
agrees that none of the Canadian Collateral Agent or the other Secured Parties will have any duty
to advise any of the Subsidiary Guarantors of information known to it or any of them regarding such
circumstances or risks.

     SECTION 10. Representations and Warranties. Each of the Subsidiary Guarantors represents and
warrants as to itself that all representations and warranties relating to it contained in the
Credit Agreement are true and correct in all material respects, except to the extent such
representations and warranties expressly relate to an earlier date. Each Subsidiary Guarantor has
determined that its guarantee hereunder is necessary and convenient to the conduct, promotion and
attainment of the business of such Subsidiary Guarantor and the Canadian Borrowers.

     SECTION 11. Termination. The Guarantees made hereunder (a) shall terminate when all the
Obligations (other than wholly contingent indemnification obligations) then due and owing have been
indefeasibly paid in full and the Canadian Lenders have no further commitment to lend under the
Credit Agreement, the Canadian L/C Exposure has been reduced to zero and the Issuing Banks have no
further obligation to issue Canadian Letters of Credit under the Credit Agreement and (b) shall
continue to be effective or be reinstated, as the case may be, if at any time payment, or any part
thereof, of any Obligation is rescinded or must otherwise be restored by any Secured Party or any
Subsidiary Guarantor upon the bankruptcy or reorganization of the Canadian Borrowers, any
Subsidiary Guarantor or otherwise.

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 5

 

     SECTION 12. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any
of the parties hereto is referred to, such reference shall be deemed to include the successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of the Subsidiary
Guarantors that are contained in this Agreement shall bind and inure to the benefit of each party
hereto and their respective successors and assigns. This Agreement shall become effective as to
any Subsidiary Guarantor when a counterpart hereof executed on behalf of such Subsidiary Guarantor
shall have been delivered to the Canadian Collateral Agent, and a counterpart hereof shall have
been executed on behalf of the Canadian Collateral Agent, and thereafter shall be binding upon such
Subsidiary Guarantor and the Canadian Collateral Agent and their respective successors and assigns,
and shall inure to the benefit of such Subsidiary Guarantor, the Canadian Collateral Agent and the
other Secured Parties, and their respective successors and assigns, except that no Subsidiary
Guarantor shall have the right to assign its rights or obligations hereunder or any interest herein
(and any such attempted assignment shall be void). If all of the issued and outstanding shares of
a Subsidiary Guarantor are sold, transferred or otherwise disposed of pursuant to a transaction
permitted by Section 6.05 of the Credit Agreement, such Subsidiary Guarantor shall be released from
its obligations under this Agreement without further action. This Agreement shall be construed as
a separate agreement with respect to each Subsidiary Guarantor and may be amended, modified,
supplemented, waived or released with respect to any Subsidiary Guarantor without the approval of
any other Subsidiary Guarantor and without affecting the obligations of any other Subsidiary
Guarantor hereunder.

     SECTION 13. Waivers; Amendment. (a) No failure or delay of the Canadian Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Canadian Collateral Agent hereunder and
of the other Secured Parties under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by any Subsidiary Guarantor therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) below, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. No
notice or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to
any other or further notice or demand in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the Subsidiary Guarantors with respect to
which such waiver, amendment or modification relates and the Canadian Collateral Agent, with the
prior written consent of the Required Lenders (except as otherwise provided in the Credit
Agreement).

     SECTION 14. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE PROVINCE OF ALBERTA.

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 6

 

     SECTION 15. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to
each Subsidiary Guarantor shall be given to it in care of the Canadian Parent.

     SECTION 16. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by the Subsidiary Guarantors herein and in the certificates or
other instruments prepared or delivered in connection with or pursuant to this Agreement or any
other Loan Document shall be considered to have been relied upon by the Canadian Collateral Agent
and the other Secured Parties and shall survive the making by the Canadian Lenders of the Canadian
Loans and the issuance of the Canadian Letters of Credit by the Issuing Banks regardless of any
investigation made by the Secured Parties or on their behalf, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Canadian Loan or any other fee or
amount payable under this Agreement or any other Canadian Loan Document is outstanding and unpaid
or the Canadian L/C Exposure does not equal zero and as long as the Canadian Commitments and the
commitment of the Issuing Banks to issue Canadian Letters of Credit have not been terminated.

     (b) In the event any one or more of the provisions contained in this Agreement or in any
other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein and therein shall not in
any way be affected or impaired thereby (it being understood that the invalidity of a particular
provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 17. Counterparts. This Agreement may be executed in counterparts, each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract, and shall become effective as provided in Section 12. Delivery of an executed signature
page to this Agreement by fax transmission shall be as effective as delivery of a manually executed
counterpart of this Agreement.

     SECTION 18. Rules of Interpretation. The rules of interpretation specified in Section 1.02
of the Credit Agreement shall be applicable to this Agreement.

     SECTION 19. Jurisdiction; Consent to Service of Process. (a) Each Subsidiary Guarantor
hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of any Alberta or Ontario court, and any appellate court from any thereof, in any
action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or
for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in Alberta or Ontario. Each of the parties hereto agrees that a final judgment in
any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall
affect any right that the Canadian Collateral Agent or any other Secured Party may otherwise have
to bring any action or proceeding relating to this Agreement or the

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 7

 

other Loan Documents against any Subsidiary Guarantor or its properties in the courts of any
jurisdiction.

     (b) Each Subsidiary Guarantor hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection that it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or
the other Loan Documents in any Alberta or Ontario court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 15. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 20. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE,
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 20.

     SECTION 21. Additional Subsidiary Guarantors. Pursuant to Section 5.09 of the Credit
Agreement, each Subsidiary that is a Material Subsidiary of the Canadian Parent that was not a
Material Subsidiary on the date of the Credit Agreement is required to enter into this Agreement as
a Subsidiary Guarantor. Upon execution and delivery after the date hereof by the Canadian
Collateral Agent and such Subsidiary of an instrument in the form of Annex 1, such Subsidiary shall
become a Subsidiary Guarantor hereunder with the same force and effect as if originally named as a
Subsidiary Guarantor herein. The execution and delivery of any instrument adding an additional
Subsidiary Guarantor as a party to this Agreement shall not require the consent of any other
Subsidiary Guarantor hereunder. The rights and obligations of each Subsidiary Guarantor hereunder
shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor
as a party to this Agreement.

     SECTION 22. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Secured Party is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other Indebtedness at any time owing by such Secured
Party to or for the credit or the account of any Subsidiary Guarantor against any or all the
obligations of such Subsidiary Guarantor now or hereafter existing under this Agreement

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 8

 

and the other Loan Documents held by such Secured Party, irrespective of whether or not such
Secured Party shall have made any demand under this Agreement or any other Loan Document and
although such obligations may be unmatured. The rights of each Secured Party under this Section 22
are in addition to other rights and remedies (including other rights of setoff) which such Secured
Party may have.

     (a) SECTION 23. Fraudulent Transfer Laws. Anything contained in this Agreement to the
contrary notwithstanding, the obligations of each Subsidiary Guarantor under this Agreement on any
date shall be limited to a maximum aggregate amount equal to the largest amount that would not, on
such date, render its obligations hereunder subject to avoidance as a fraudulent transfer or
conveyance under Section 548 of the Bankruptcy Code of the United States or any applicable
provisions of comparable laws relating to bankruptcy, insolvency, or reorganization, or relief of
debtors.

     SECTION 24. Amendment and Restatement. The Subsidiary Guarantors and the Canadian Collateral
Agent have agreed that this Agreement is an amendment and restatement of the Existing Canadian
Subsidiary Guarantee Agreement in its entirety and the terms and provisions hereof supersede the
terms and provisions thereof, and this Agreement is not a new or substitute agreement or novation
of the Existing Canadian Subsidiary Guarantee Agreement.

[Remainder of this page intentionally left blank. Signature page follows.]

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 9

 

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

[EACH OF THE SUBSIDIARY GUARANTORS

LISTED ON SCHEDULE I HERETO]

	 	 	 	 	 
	by:  	
 	 
	 	Name:  	 	 
	 	Title:  	Authorized Signatory 	 
	 

ROYAL BANK OF CANADA,

as Canadian Collateral Agent

	 	 	 	 	 
	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 10

 

	 	 	 	 	 

Schedule I to the

Amended and Restated Canadian Subsidiary Guarantee Agreement

Subsidiary Guarantors

Crown Camp Services Ltd.

PTI Camp Installations Ltd.

PTI International Inc.

PTI International Ltd.

PTI Noble Structures Inc.

PTI Travco Modular Structures Ltd.

Stinger Wellhead Protection (Canada) Incorporated

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 11

 

Annex 1 to the

Amended and Restated

Canadian Subsidiary Guarantee Agreement

     SUPPLEMENT NO. __ dated as of [_____] (the “Supplement”) to the Amended and Restated Canadian
Subsidiary Guarantee Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Canadian Subsidiary Guarantee Agreement”), among each of the
Subsidiaries listed on Schedule I thereto (each such Subsidiary individually, a “Subsidiary
Guarantor” and collectively, the “Subsidiary Guarantors”) of PTI GROUP INC., a corporation
amalgamated under the laws of the Province of Alberta (the “Canadian Parent”), PTI Premium Camp
Services Ltd., a corporation amalgamated under the laws of the Province of Alberta (“PTI Premium”
and, together with the Canadian Parent, the “Canadian Borrowers”), and Royal Bank of Canada
(“RBC”), as collateral agent (in such capacity, the “Canadian Collateral Agent”) for the Secured
Parties (as defined in the Canadian Security Agreement).

     A. Reference is made to the Amended and Restated Credit Agreement dated as of December 10,
2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Canadian Borrowers, Oil States International, Inc. (the “U.S. Borrower” and, together
with the Canadian Borrowers, the “Borrowers”), the lenders from time to time party thereto (the
“Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders and Collateral Agent, and Royal Bank of Canada, as
administrative agent and collateral agent for the Canadian Lenders.

     B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Canadian Subsidiary Guarantee Agreement and the Credit Agreement.

     C. The Subsidiary Guarantors have entered into the Canadian Subsidiary Guarantee Agreement in
order to induce the Canadian Lenders to make Canadian Loans and the Issuing Banks to issue Canadian
Letters of Credit. Pursuant to Section 5.09 of the Credit Agreement, each Subsidiary that is a
Material Subsidiary of the Canadian Borrowers that was not a Material Subsidiary on the date of the
Credit Agreement is required to enter into the Canadian Subsidiary Guarantee Agreement as a
Subsidiary Guarantor. Section 22 of the Canadian Subsidiary Guarantee Agreement provides that
additional Subsidiaries of the Canadian Borrowers may become Subsidiary Guarantors under the
Canadian Subsidiary Guarantee Agreement by execution and delivery of an instrument in the form of
this Supplement. The undersigned Subsidiary of the Canadian Borrowers (the “New Subsidiary
Guarantor”) is executing this Supplement in accordance with the requirements of the Credit
Agreement to become a Subsidiary Guarantor under the Canadian Subsidiary Guarantee Agreement in
order to induce the Canadian Lenders to make additional Canadian Loans and the Issuing Banks to
issue additional Canadian Letters of Credit and as consideration for Canadian Loans previously made
and Canadian Letters of Credit previously issued.

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 12

 

     Accordingly, the Canadian Collateral Agent and the New Subsidiary Guarantor agree as follows:

     SECTION 1. In accordance with Section 21 of the Canadian Subsidiary Guarantee Agreement, the
New Subsidiary Guarantor by its signature below becomes a Subsidiary Guarantor under the Canadian
Subsidiary Guarantee Agreement with the same force and effect as if originally named therein as a
Subsidiary Guarantor and the New Subsidiary Guarantor hereby (a) agrees to all the terms and
provisions of the Canadian Subsidiary Guarantee Agreement applicable to it as a Subsidiary
Guarantor thereunder and (b) represents and warrants that the representations and warranties made
by it as a Subsidiary Guarantor thereunder are true and correct on and as of the date hereof in all
material respects. Each reference to a “Subsidiary Guarantor” in the Canadian Subsidiary Guarantee
Agreement shall be deemed to include the New Subsidiary Guarantor. The Canadian Subsidiary
Guarantee Agreement is hereby incorporated herein by reference.

     SECTION 2. The New Subsidiary Guarantor represents and warrants to the Canadian Collateral
Agent and the other Secured Parties that this Supplement has been duly authorized, executed and
delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms.

     SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. This Supplement
shall become effective when the Canadian Collateral Agent shall have received counterparts of this
Supplement that, when taken together, bear the signatures of the New Subsidiary Guarantor and the
Canadian Collateral Agent. Delivery of an executed signature page to this Supplement by fax
transmission shall be as effective as delivery of a manually executed counterpart of this
Supplement.

     SECTION 4. Except as expressly supplemented hereby, the Canadian Subsidiary Guarantee
Agreement shall remain in full force and effect.

     SECTION 5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE PROVINCE OF ALBERTA.

     SECTION 6. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions contained herein and in the Canadian Subsidiary Guarantee Agreement shall
not in any way be affected or impaired thereby (it being understood that the invalidity of a
particular provision hereof in a particular jurisdiction shall not in and of itself affect the
validity of such provision in any other jurisdiction). The parties hereto shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 13

 

     SECTION 7. All communications and notices hereunder shall be in writing and given as provided
in Section 15 of the Canadian Subsidiary Guarantee Agreement. All communications and notices
hereunder to the New Subsidiary Guarantor shall be given to it at the address set forth under its
signature below, with a copy to the Canadian Borrower.

     SECTION 8. The New Subsidiary Guarantor agrees to reimburse the Canadian Collateral Agent for
its reasonable out-of-pocket expenses in connection with this Supplement, including the fees,
disbursements and other charges of counsel for the Canadian Collateral Agent.

     IN WITNESS WHEREOF, the New Subsidiary Guarantor and the Canadian Collateral Agent have duly
executed this Supplement to the Canadian Subsidiary Guarantee Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	[Name Of New Subsidiary Guarantor]

 	 
	 	By:  	 	 
	 	 	Name:  
	 
	 	 	Title:  
	 
	 	 	Address: 	 	 
	 
	 	ROYAL BANK OF CANADA, as Canadian Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  
	 
	 	 	Title:  
	 
	 

Exhibit G-2 — Form of Amended and Restated Canadian Subsidiary Guarantee Agreement

Page 14

 

EXHIBIT G-3

[Form of]

AMENDED AND RESTATED

U.S. BORROWER GUARANTEE AGREEMENT

     AMENDED AND RESTATED U.S. BORROWER GUARANTEE AGREEMENT dated as of December 10, 2010, (this
“Agreement”) between OIL STATES INTERNATIONAL, INC., a Delaware corporation (the “Guarantor”), and
ROYAL BANK OF CANADA (“RBC”), as collateral agent (in such capacity, the “Canadian Collateral
Agent”) for the Secured Parties (as defined in the Canadian Security Agreement).

     Reference is made to the Amended and Restated Credit Agreement dated as of December 10, 2010
(as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd. (“PTI
Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto
(the “Lenders”), Wells Fargo Bank National Association, as administrative agent (in such capacity,
the “Administrative Agent”) for the Lenders and U.S. Collateral Agent, and Royal Bank of Canada, as
administrative agent and Canadian Collateral Agent for the Canadian Lenders. Capitalized terms
used herein and not defined herein shall have the meanings assigned to such terms in the Credit
Agreement.

     The Guarantor and the Canadian Collateral Agent are parties to that certain U.S. Borrower
Guarantee Agreement dated as of October 30, 2003 (as heretofore amended, restated and otherwise
modified, the “Existing U.S. Borrower Guarantee Agreement”).

     The Canadian Lenders have agreed to make Loans to the Canadian Borrowers, and the Issuing Bank
has agreed to issue Letters of Credit for the accounts of the Canadian Borrowers, pursuant to, and
upon the terms and subject to the conditions specified in, the Credit Agreement. The Canadian
Borrowers are wholly owned Subsidiaries of the Guarantor, and the Guarantor acknowledges that it
will derive substantial benefit from the making of Loans by the Canadian Lenders to the Canadian
Borrowers, and the issuance of Letters of Credit by the Issuing Banks for the accounts of the
Canadian Borrowers. The obligations of the Canadian Lenders to make Loans and of the Issuing Banks
to issue Letters of Credit for the accounts of the Canadian Borrowers are conditioned upon, among
other things, the execution and delivery by the Guarantor of a U.S. Borrower Guarantee Agreement in
the form hereof. As consideration therefor and in order to induce the Canadian Lenders to make
Loans to the Canadian Borrowers and the Issuing Banks to issue Letters of Credit for the accounts
of the Canadian Borrowers, the Guarantor is willing to execute this Agreement.

     Accordingly, the parties hereto (a) agree that the Existing U.S. Borrower Guarantee Agreement
is amended and restated in its entirety by this Agreement and (b) further agree as follows:

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

Page 1

 

     SECTION 1. Guarantee. The Guarantor unconditionally and irrevocably guarantees, as a primary
obligor and not merely as a surety, (a) the due and punctual payment by the Canadian Borrowers of
(i) the principal of and premium, if any, and interest (including interest accruing during the
pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding) on the Loans made to the Canadian Borrowers, when
and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or
otherwise, (ii) each payment required to be made by the Canadian Borrowers under the Credit
Agreement in respect of any Letter of Credit, when and as due, including payments in respect of
reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and
(iii) all other monetary obligations, including fees, costs, expenses and indemnities, whether
primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred
during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding,
regardless of whether allowed or allowable in such proceeding), of the Canadian Borrowers to the
Secured Parties under the Credit Agreement and the other Loan Documents, (b) the due and punctual
performance of all covenants, agreements, obligations and liabilities of the Canadian Borrowers
under or pursuant to the Credit Agreement and the other Loan Documents, (c) the due and punctual
payment and performance of all the covenants, agreements, obligations and liabilities of each other
Loan Party under or pursuant to the Loan Documents, (d) the due and punctual payment and
performance of all obligations of the Canadian Borrowers, monetary or otherwise, under each Hedging
Agreement entered into with any counterparty that was a Lender (or an affiliate of a Lender) at the
time such Hedging Agreement was entered into and (e) the due and punctual performance of all
Banking Services Obligations provided to the Canadian Borrowers or any Subsidiary by any Lender or
any Affiliate of a Lender (all the monetary and other obligations referred to in the preceding
lettered clauses of this paragraph being referred to collectively as the “Obligations”).

     SECTION 2. Obligations Not Waived. To the fullest extent permitted by applicable law, the
Guarantor waives presentment to, demand of payment from and protest to the Canadian Borrowers of
any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest
for nonpayment. To the fullest extent permitted by applicable law, the obligations of the
Guarantor hereunder shall not be affected by (a) the failure of the Canadian Collateral Agent or
any other Secured Party to assert any claim or demand or to enforce or exercise any right or remedy
against the Canadian Borrowers under the provisions of the Credit Agreement, any other Loan
Document or otherwise, (b) any rescission, waiver, amendment or modification of, or any release
from any of the terms or provisions of this Agreement, any other Loan Document, any Guarantee or
any other agreement or (c) the failure to perfect any security interest in, or the release of, any
of the security held by or on behalf of the Canadian Collateral Agent or any other Secured Party.

     SECTION 3. Security. The Guarantor authorizes the Canadian Collateral Agent and each of the
other Secured Parties to (a) take and hold security for the payment of this Agreement and the
Obligations and exchange, enforce, waive and release any such security, (b) apply such security and
direct the order or manner of sale thereof as it in its sole discretion may determine and (c)
release or substitute any one or more endorsees, other guarantors or other obligors.

     SECTION 4. Guarantee of Payment. The Guarantor further agrees that its guarantee constitutes
a guarantee of payment when due and not of collection, and waives any right to

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

Page 2

 

require that any resort be had by the Canadian Collateral Agent or any other Secured Party to
any of the security held for payment of the Obligations or to any balance of any deposit account or
credit on the books of the Canadian Collateral Agent or any other Secured Party in favor of the
Canadian Borrowers or any other person.

     SECTION 5. No Discharge or Diminishment of Guarantee. The obligations of the Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason (other than the indefeasible payment in full in cash of the Obligations), including any
claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall
not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without
limiting the generality of the foregoing, the obligations of the Guarantor hereunder shall not be
discharged or impaired or otherwise affected by the failure of the Canadian Collateral Agent or any
other Secured Party to assert any claim or demand or to enforce any remedy under the Credit
Agreement, any other Loan Document or any other agreement, by any waiver or modification of any
provision thereof, by any default, failure or delay, wilful or otherwise, in the performance of the
Obligations, or by any other act or omission that may or might in any manner or to any extent vary
the risk of the Guarantor or that would otherwise operate as a discharge of the Guarantor as a
matter of law or equity (other than the indefeasible payment in full in cash of all the
Obligations).

     SECTION 6. Defenses of Canadian Borrowers Waived. To the fullest extent permitted by
applicable law, the Guarantor waives any defense based on or arising out of any defense of the
Canadian Borrowers or the unenforceability of the Obligations or any part thereof from any cause,
or the cessation from any cause of the liability of the Canadian Borrowers, other than the final
and indefeasible payment in full in cash of the Obligations. The Canadian Collateral Agent and the
other Secured Parties may, at their election, foreclose on any security held by one or more of them
by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of
foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with
the Canadian Borrowers or any other guarantor or exercise any other right or remedy available to
them against the Canadian Borrowers or any other guarantor, without affecting or impairing in any
way the liability of the Guarantor hereunder except to the extent the Obligations have been fully,
finally and indefeasibly paid in cash. Pursuant to applicable law, the Guarantor waives any
defense arising out of any such election even though such election operates, pursuant to applicable
law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy
of the Guarantor against the Canadian Borrowers or any other guarantor, as the case may be, or any
security. There are no conditions precedent to the enforcement of this Agreement, except as
expressly contained herein. It shall not be necessary for the Canadian Collateral Agent or the
other Secured Parties, in order to enforce payment by the Guarantor under this Agreement, to show
any proof of a Borrower’s default, to exhaust the Canadian Collateral Agent or the other Secured
Parties’ remedies against the Borrowers, any other guarantor, or any other Person liable for the
payment or performance of the Obligations or to enforce any other means of obtaining payment or
performance of the Obligations. The Canadian Collateral Agent and the other Secured Parties shall
not be required to mitigate damages or take any other action to reduce, collect, or enforce the
Obligations.

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

Page 3

 

     SECTION 7. Agreement to Pay; Subordination. In furtherance of the foregoing and not in
limitation of any other right that the Canadian Collateral Agent or any other Secured Party has at
law or in equity against the Guarantor by virtue hereof, upon the failure of the Canadian Borrowers
or any other Loan Party to pay any Obligation when and as the same shall become due, whether at
maturity, by acceleration, after notice of prepayment or otherwise, the Guarantor hereby promises
to and will forthwith pay, or cause to be paid, to the Canadian Collateral Agent or such other
Secured Party as designated thereby in cash the amount of such unpaid Obligations. Upon payment by
the Guarantor of any sums to the Canadian Collateral Agent or any Secured Party as provided above,
all rights of the Guarantor against the Canadian Borrower arising as a result thereof by way of
right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be
subordinate and junior in right of payment to the prior indefeasible payment in full in cash of all
the Obligations. In addition, any indebtedness of the Canadian Borrowers now or hereafter held by
the Guarantor is hereby subordinated in right of payment to the prior payment in full of the
Obligations. If any amount shall erroneously be paid to the Guarantor on account of (i) such
subrogation, contribution, reimbursement, indemnity or similar right or (ii) any such indebtedness
of the Canadian Borrowers while an Event of Default has occurred and is continuing, such amount
shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the
Canadian Collateral Agent to be credited against the payment of the Obligations, whether matured or
unmatured, in accordance with the terms of the Loan Documents.

     SECTION 8. Information. The Guarantor assumes all responsibility for being and keeping itself
informed of the Canadian Borrowers’ financial condition and assets, and of all other circumstances
bearing upon the risk of nonpayment of the Obligations and the nature, scope and extent of the
risks that the Guarantor assumes and incurs hereunder, and agrees that none of the Canadian
Collateral Agent or the other Secured Parties will have any duty to advise the Guarantor of
information known to it or any of them regarding such circumstances or risks.

     SECTION 9. Representations and Warranties. The Guarantor represents and warrants that all
representations and warranties relating to it contained in the Credit Agreement are true and
correct in all material respects, except to the extent such representations and warranties
expressly relate to an earlier date. The Guarantor has determined that its guarantee hereunder is
necessary and convenient to the conduct, promotion and attainment of the business of the Guarantor
and the Canadian Borrowers.

     SECTION 10. Termination. The guarantee made hereunder (a) shall terminate when all the
Obligations have been indefeasibly paid in full and the Canadian Lenders have no further commitment
to lend under the Credit Agreement, the Canadian L/C Exposure has been reduced to zero and the
Canadian Issuing Banks have no further obligation to issue Letters of Credit under the Credit
Agreement and (b) shall continue to be effective or be reinstated, as the case may be, if at any
time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by
any Secured Party or the Guarantor upon the bankruptcy or reorganization of the Canadian Borrowers,
the Guarantor or otherwise.

     SECTION 11. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any of
the parties hereto is referred to, such reference shall be deemed to include the successors and
assigns of such party; and all covenants, promises and agreements by or on behalf

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

Page 4

 

of the Guarantor that are contained in this Agreement shall bind and inure to the benefit of
each party hereto and their respective successors and assigns. This Agreement shall become
effective when a counterpart hereof executed on behalf of the Guarantor shall have been delivered
to the Canadian Collateral Agent, and a counterpart hereof shall have been executed on behalf of
the Canadian Collateral Agent, and thereafter shall be binding upon the Guarantor and the Canadian
Collateral Agent and their respective successors and assigns, and shall inure to the benefit of the
Guarantor, the Canadian Collateral Agent and the other Secured Parties, and their respective
successors and assigns, except that the Guarantor shall not have the right to assign its rights or
obligations hereunder or any interest herein (and any such attempted assignment shall be void).

     SECTION 12. Waivers; Amendment. (a) No failure or delay of the Canadian Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Canadian Collateral Agent hereunder and
of the other Secured Parties under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Guarantor therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. No notice or demand
on the Guarantor in any case shall entitle the Guarantor to any other or further notice or demand
in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the Guarantor and the Canadian Collateral
Agent, with the prior written consent of the Required Lenders (except as otherwise provided in the
Credit Agreement).

     SECTION 13. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 14. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement.

     SECTION 15. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by the Guarantor herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Loan Document shall be considered to have been relied upon by the Canadian Collateral Agent and the
other Secured Parties and shall survive the making by the Lenders of the Loans and the issuance of
the Letters of Credit by the Issuing Banks regardless of any investigation made by the Secured
Parties or on their behalf, and shall continue in full force and effect as long as the principal of
or any accrued interest on any Loan or any other fee or amount payable under this Agreement or any
other Loan Document is outstanding and unpaid or the Aggregate L/C Exposure does not equal zero and
as long as the Commitments and the commitment of the Issuing Banks to issue Letters of Credit have
not been terminated.

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

Page 5

 

     (b) In the event any one or more of the provisions contained in this Agreement or in any other
Loan Document should be held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein and therein shall not in
any way be affected or impaired thereby (it being understood that the invalidity of a particular
provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 16. Counterparts. This Agreement may be executed in counterparts, each of which shall
constitute an original, but all of which when taken together shall constitute a single contract,
and shall become effective as provided in Section 11. Delivery of an executed signature page to
this Agreement by fax transmission shall be as effective as delivery of a manually executed
counterpart of this Agreement.

     SECTION 17. Rules of Interpretation. The rules of interpretation specified in Section 1.02 of
the Credit Agreement shall be applicable to this Agreement.

     SECTION 18. Jurisdiction; Consent to Service of Process. (a) The Guarantor hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of any New York State court or Federal court of the United States of America sitting
in the Borough of Manhattan, New York, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State court or, to the extent permitted by law, in such Federal court.
Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that the Canadian
Collateral Agent or any other Secured Party may otherwise have to bring any action or proceeding
relating to this Agreement or the other Loan Documents against the Guarantor or its properties in
the courts of any jurisdiction.

     (b) The Guarantor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 14. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 19. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

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OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE,
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 19.

     SECTION 20. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Secured Party is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other Indebtedness at any time owing by such Secured
Party to or for the credit or the account of the Guarantor against any or all the obligations of
the Guarantor now or hereafter existing under this Agreement and the other Loan Documents held by
such Secured Party, irrespective of whether or not such Secured Party shall have made any demand
under this Agreement or any other Loan Document and although such obligations may be unmatured.
The rights of each Secured Party under this Section 20 are in addition to other rights and remedies
(including other rights of setoff) which such Secured Party may have.

     (a) Fraudulent Transfer Laws. Anything contained in this Agreement to the contrary
notwithstanding, the obligations of the Guarantor under this Agreement on any date shall be limited
to a maximum aggregate amount equal to the largest amount that would not, on such date, render its
obligations hereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548
of the Bankruptcy Code of the United States or any applicable provisions of comparable laws
relating to bankruptcy, insolvency, or reorganization, or relief of debtors.

     SECTION 21. Amendment and Restatement. The Guarantor and the Canadian Collateral Agent have
agreed that this Agreement is an amendment and restatement of the Existing U.S. Borrower Guarantee
Agreement in its entirety and the terms and provisions hereof supersede the terms and provisions
thereof, and this Agreement is not a new or substitute agreement or novation of the Existing U.S.
Borrower Guarantee Agreement.

[SIGNATURE PAGE FOLLOWS]

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

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     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL, INC.,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ROYAL BANK OF CANADA,

as Canadian Collateral Agent,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit G-3 — Form of Amended and Restated U.S. Borrower Guarantee Agreement

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EXHIBIT G-4

[Form
of]

AMENDED AND RESTATED PTI HOLDCO SUB GUARANTEE AGREEMENT

     AMENDED AND RESTATED PTI HOLDCO SUB GUARANTEE AGREEMENT dated as of December 10, 2010 (the
“Agreement”), between 892493 ALBERTA INC., a corporation organized and existing under the laws of
Alberta (the “Guarantor”), and ROYAL BANK OF CANADA (“RBC”), a bank organized under the laws of
Canada, as collateral agent (in such capacity, the “Canadian Collateral Agent”) for the Secured
Parties (as defined in the Amended and Restated Canadian Security Agreement).

     Reference is made to the Amended and Restated Credit Agreement dated as of December 10, 2010
(as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the U.S. Borrower, PTI Group Inc. (the “Canadian Parent”), PTI Premium Camp Services Ltd. (“PTI
Premium” and, together with the Canadian Parent, the “Canadian Borrowers” and, together
with the U.S. Borrower, the “Borrowers”), the lenders from time to time party thereto
(the “Lenders”), Wells Fargo Bank, National Association, as administrative agent (in such capacity,
the “Administrative Agent”) for the Lenders and U.S Collateral Agent, and Royal Bank of Canada
(“RBC”), as administrative agent and Canadian Collateral Agent for the Canadian Lenders.
Capitalized terms used herein and not defined herein shall have the meanings assigned to such terms
in the Credit Agreement.

     The Guarantor and The Bank of Nova Scotia, in its capacity as the former Canadian collateral
agent, are parties to that certain PTI Holdco Sub Guarantee Agreement dated as of October 30, 2003
(as heretofore amended, restated and otherwise modified, the “Existing PTI Holdco Sub Guarantee
Agreement”).

     The Canadian Lenders have agreed to make Canadian Loans to the Canadian Borrowers, and the
Issuing Bank has agreed to issue Canadian Letters of Credit for the accounts of the Canadian
Borrowers, pursuant to, and upon the terms and subject to the conditions specified in, the Credit
Agreement. The Canadian Borrowers are wholly owned Subsidiaries of the Guarantor, and the
Guarantor acknowledges that it will derive substantial benefit from the making of Canadian Loans by
the Canadian Lenders to the Canadian Borrowers, and the issuance of Canadian Letters of Credit by
the Issuing Banks for the accounts of the Canadian Borrowers. The obligations of the Canadian
Lenders to make Canadian Loans and of the Issuing Banks to issue Canadian Letters of Credit for the
accounts of the Canadian Borrowers are conditioned upon, among other things, the execution and
delivery by the Guarantor of a PTI Holdco Sub Guarantee Agreement in the form hereof. As
consideration therefor and in order to induce the Canadian Lenders to make Canadian Loans to the
Canadian Borrowers and the Issuing Banks to issue Canadian Letters of Credit for the accounts of
the Canadian Borrowers, the Guarantor is willing to execute this Agreement.

     Accordingly, the parties hereto (a) agree that the Existing PTI Holdco Sub Guarantee Agreement
is amended and restated in its entirety by this Agreement and (b) further agree as follows:

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 1

 

     SECTION 1. Guarantee. The Guarantor unconditionally guarantees, as a primary obligor and not
merely as a surety, (a) the due and punctual payment by the Canadian Borrowers of (i) the principal
of and premium, if any, and interest (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding) on the Canadian Loans made to the Canadian Borrowers, when and as
due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise,
(ii) each payment required to be made by the Canadian Borrowers under the Credit Agreement in
respect of any Canadian Letter of Credit, when and as due, including payments in respect of
reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and
(iii) all other monetary obligations, including fees, costs, expenses and indemnities, whether
primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred
during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding,
regardless of whether allowed or allowable in such proceeding), of the Canadian Borrowers to the
Secured Parties under the Credit Agreement and the other Loan Documents, (b) the due and punctual
performance of all covenants, agreements, obligations and liabilities of the Canadian Borrowers
under or pursuant to the Credit Agreement and the other Loan Documents (c) the due and punctual
payment and performance of all covenants, agreements, obligations and liabilities of each Canadian
Loan Party under or pursuant to this Agreement and the other Loan Documents, (d) the due and
punctual payment and performance of all obligations of the Canadian Borrowers, monetary or
otherwise, under each Hedging Agreement entered into with any counterparty that was a Canadian
Lender (or an affiliate of a Canadian Lender) at the time such Hedging Agreement was entered into
and (e) the due and punctual performance of all Banking Services Obligations provided to the
Canadian Borrowers or any Subsidiary by any Lender or any Affiliate of a Lender (all the monetary
and other obligations referred to in the preceding lettered clauses of this paragraph being
referred to collectively as the “Obligations”).

     SECTION 2. Obligations Not Waived. To the fullest extent permitted by applicable law, the
Guarantor waives presentment to, demand of payment from and protest to the Canadian Borrowers of
any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest
for nonpayment. To the fullest extent permitted by applicable law, the obligations of the
Guarantor hereunder shall not be affected by (a) the failure of the Canadian Collateral Agent or
any other Secured Party to assert any claim or demand or to enforce or exercise any right or remedy
against the Canadian Borrowers under the provisions of the Credit Agreement, any other Loan
Document or otherwise, (b) any rescission, waiver, amendment or modification of, or any release
from any of the terms or provisions of this Agreement, any other Loan Document, any Guarantee or
any other agreement or (c) the failure to perfect any security interest in, or the release of, any
of the security held by or on behalf of the Canadian Collateral Agent or any other Secured Party.

     SECTION 3. Security. The Guarantor authorizes the Canadian Collateral Agent and each of the
other Secured Parties to (a) take and hold security for the payment of this Guarantee and the
Obligations and exchange, enforce, waive and release any such security, (b) apply such security and
direct the order or manner of sale thereof as it in its sole discretion may determine and (c)
release or substitute any one or more endorsees, other guarantors or other obligors.

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 2

 

     SECTION 4. Guarantee of Payment. The Guarantor further agrees that its guarantee constitutes
a guarantee of payment when due and not of collection, and waives any right to require that any
resort be had by the Canadian Collateral Agent or any other Secured Party to any of the security
held for payment of the Obligations or to any balance of any deposit account or credit on the books
of the Canadian Collateral Agent or any other Secured Party in favor of the Canadian Borrowers or
any other person.

     SECTION 5. No Discharge or Diminishment of Guarantee. The obligations of the Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason (other than the indefeasible payment in full in cash of the Obligations), including any
claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall
not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without
limiting the generality of the foregoing, the obligations of the Guarantor hereunder shall not be
discharged or impaired or otherwise affected by the failure of the Canadian Collateral Agent or any
other Secured Party to assert any claim or demand or to enforce any remedy under the Credit
Agreement, any other Loan Document or any other agreement, by any waiver or modification of any
provision thereof, by any default, failure or delay, wilful or otherwise, in the performance of the
Obligations, or by any other act or omission that may or might in any manner or to any extent vary
the risk of the Guarantor or that would otherwise operate as a discharge of the Guarantor as a
matter of law or equity (other than the indefeasible payment in full in cash of all the
Obligations).

     SECTION 6. Defenses of Canadian Borrowers Waived. To the fullest extent permitted by
applicable law, the Guarantor waives any defense based on or arising out of any defense of the
Canadian Borrowers or the unenforceability of the Obligations or any part thereof from any cause,
or the cessation from any cause of the liability of the Canadian Borrowers, other than the final
and indefeasible payment in full in cash of the Obligations. The Canadian Collateral Agent and the
other Secured Parties may, at their election, foreclose on any security held by one or more of them
by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of
foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with
the Canadian Borrowers or any other guarantor or exercise any other right or remedy available to
them against the Canadian Borrowers or any other guarantor, without affecting or impairing in any
way the liability of the Guarantor hereunder except to the extent the Obligations have been fully,
finally and indefeasibly paid in cash. Pursuant to applicable law, the Guarantor waives any
defense arising out of any such election even though such election operates, pursuant to applicable
law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy
of the Guarantor against the Canadian Borrowers or any other guarantor, as the case may be, or any
security.

     SECTION 7. Agreement to Pay; Subordination. In furtherance of the foregoing and not in
limitation of any other right that the Canadian Collateral Agent or any other Secured Party has at
law or in equity against the Guarantor by virtue hereof, upon the failure of the Canadian Borrowers
or any other Canadian Loan Party to pay any Obligation when and as the same shall become due,
whether at maturity, by acceleration, after notice of prepayment or otherwise, the

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

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Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Canadian
Collateral Agent or such other Secured Party as designated thereby in cash the amount of such
unpaid Obligations. Upon payment by the Guarantor of any sums to the Canadian Collateral Agent or
any Secured Party as provided above, all rights of the Guarantor against the Canadian Borrower
arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity
or otherwise shall in all respects be subordinate and junior in right of payment to the prior
indefeasible payment in full in cash of all the Obligations. In addition, any indebtedness of the
Canadian Borrowers now or hereafter held by the Guarantor is hereby subordinated in right of
payment to the prior payment in full of the Obligations. If any amount shall erroneously be paid
to the Guarantor on account of (i) such subrogation, contribution, reimbursement, indemnity or
similar right or (ii) any such indebtedness of the Canadian Borrowers while an Event of Default has
occurred and is continuing, such amount shall be held in trust for the benefit of the Secured
Parties and shall forthwith be paid to the Canadian Collateral Agent to be credited against the
payment of the Obligations, whether matured or unmatured, in accordance with the terms of the Loan
Documents.

     SECTION 8. Information. The Guarantor assumes all responsibility for being and keeping
itself informed of the Canadian Borrowers’ financial condition and assets, and of all other
circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and
extent of the risks that the Guarantor assumes and incurs hereunder, and agrees that none of the
Canadian Collateral Agent or the other Secured Parties will have any duty to advise the Guarantor
of information known to it or any of them regarding such circumstances or risks.

     SECTION 9. Representations and Warranties. The Guarantor represents and warrants that all
representations and warranties relating to it contained in the Credit Agreement are true and
correct in all material respects. The Guarantor has determined that its guarantee hereunder is
necessary and convenient to the conduct, promotion and attainment of the business of the Guarantor
and the Canadian Borrowers.

     SECTION 10. Termination. The Guarantee made hereunder (a) shall terminate when all the
Obligations have been indefeasibly paid in full and the Canadian Lenders have no further commitment
to lend under the Credit Agreement, the Canadian L/C Exposure has been reduced to zero and the
Issuing Banks have no further obligation to issue Canadian Letters of Credit under the Credit
Agreement and (b) shall continue to be effective or be reinstated, as the case may be, if at any
time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by
any Secured Party or the Guarantor upon the bankruptcy or reorganization of the Canadian Borrowers,
the Guarantor or otherwise.

     SECTION 11. Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any
of the parties hereto is referred to, such reference shall be deemed to include the successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of the Guarantor
that are contained in this Agreement shall bind and inure to the benefit of each party hereto and
their respective successors and assigns. This Agreement shall become effective when a counterpart
hereof executed on behalf of the Guarantor shall have been delivered to the Canadian Collateral
Agent, and a counterpart hereof shall have been executed on behalf of the Canadian Collateral
Agent, and thereafter shall be binding upon the Guarantor and the Canadian

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 4

 

Collateral Agent and their respective successors and assigns, and shall inure to the benefit of the
Guarantor, the Canadian Collateral Agent and the other Secured Parties, and their respective
successors and assigns, except that the Guarantor shall not have the right to assign its rights or
obligations hereunder or any interest herein (and any such attempted assignment shall be void).

     SECTION 12. Waivers; Amendment. (a) No failure or delay of the Canadian Collateral Agent in
exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Canadian Collateral Agent hereunder and
of the other Secured Parties under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Guarantor therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. No notice or demand
on the Guarantor in any case shall entitle the Guarantor to any other or further notice or demand
in similar or other circumstances.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to a written agreement entered into between the Guarantor and the Canadian Collateral
Agent, with the prior written consent of the Required Lenders (except as otherwise provided in the
Credit Agreement).

     SECTION 13. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE PROVINCE OF ALBERTA.

     SECTION 14. Notices. All communications and notices hereunder shall be in writing and given
as provided in Section 9.01 of the Credit Agreement.

     SECTION 15. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by the Guarantor herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Loan Document shall be considered to have been relied upon by the Canadian Collateral Agent and the
other Secured Parties and shall survive the making by the Canadian Lenders of the Canadian Loans
and the issuance of the Canadian Letters of Credit by the Issuing Banks regardless of any
investigation made by the Secured Parties or on their behalf, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Canadian Loan or any other fee or
amount payable under this Agreement or any other Loan Document is outstanding and unpaid or the
Canadian L/C Exposure does not equal zero and as long as the Canadian Commitments and the
commitment of the Issuing Banks to issue Canadian Letters of Credit have not been terminated.

     (b) In the event any one or more of the provisions contained in this Agreement or in any
other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein and therein shall not in

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 5

 

any way be affected or impaired thereby (it being understood that the invalidity of a particular
provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

     SECTION 16. Counterparts. This Agreement may be executed in counterparts, each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract, and shall become effective as provided in Section 11. Delivery of an executed signature
page to this Agreement by fax transmission shall be as effective as delivery of a manually executed
counterpart of this Agreement.

     SECTION 17. Rules of Interpretation. The rules of interpretation specified in Section 1.02
of the Credit Agreement shall be applicable to this Agreement.

     SECTION 18. Jurisdiction; Consent to Service of Process. (a) The Guarantor hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of any Alberta or Ontario court, and any appellate court from any thereof, in any
action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or
for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in such Alberta or Ontario court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this
Agreement shall affect any right that the Canadian Collateral Agent or any other Secured Party may
otherwise have to bring any action or proceeding relating to this Agreement or the other Loan
Documents against the Guarantor or its properties in the courts of any jurisdiction.

     (b) The Guarantor hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any Alberta or Ontario court. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 14. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

     SECTION 19. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

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THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION 19.

     SECTION 20. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Secured Party is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other Indebtedness at any time owing by such Secured
Party to or for the credit or the account of the Guarantor against any or all the obligations of
the Guarantor now or hereafter existing under this Agreement and the other Loan Documents held by
such Secured Party, irrespective of whether or not such Secured Party shall have made any demand
under this Agreement or any other Loan Document and although such obligations may be unmatured.
The rights of each Secured Party under this Section 20 are in addition to other rights and remedies
(including other rights of setoff) which such Secured Party may have.

     (b) SECTION 21. Fraudulent Transfer Laws. Anything contained in this Agreement to the
contrary notwithstanding, the obligations of the Guarantor under this Agreement on any date shall
be limited to a maximum aggregate amount equal to the largest amount that would not, on such date,
render its obligations hereunder subject to avoidance as a fraudulent transfer or conveyance under
Section 548 of the Bankruptcy Code of the United States or any applicable provisions of comparable
laws relating to bankruptcy, insolvency, or reorganization, or relief of debtors.

     SECTION 22. Amendment and Restatement. The Guarantor and the Canadian Collateral Agent have
agreed that this Agreement is an amendment and restatement of the Existing PTI Holdco Sub Guarantee
Agreement in its entirety and the terms and provisions hereof supersede the terms and provisions
thereof, and this Agreement is not a new or substitute agreement or novation of the Existing PTI
Holdco Sub Guarantee Agreement.

[SIGNATURE PAGE FOLLOWS]

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 7

 

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	 	892493 ALBERTA INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ROYAL BANK OF CANADA,

as Canadian Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit G-4 — Form of Amended and Restated PTI Holdco Sub Guarantee Agreement

Page 8

 

EXHIBIT G-5

[Form of]

AUSTRALIAN GUARANTEE

See Attached.

Exhibit G-5
— Form of Australian Guarantee

Page 1

 

 

Each party listed in Schedule 1 as a Guarantor

and

Royal Bank of Canada

Deed of Guarantee

Arnold Bloch Leibler

Ref: BNM 011562615

ABL/1311342v6

Exhibit G-5 — Form of Australian Guarantee

Page 2

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page no.	 
	1 DEFINITIONS AND INTERPRETATION
	 	 	5	 
	1.1 Definitions
	 	 	5	 
	1.2 Incorporated definitions
	 	 	7	 
	1.3 Interpretation
	 	 	7	 
	1.4 Benefit of guarantees and indemnities
	 	 	8	 
	1.5 Capacity of Collateral Agent
	 	 	8	 
	2 GUARANTEE
	 	 	8	 
	2.1 Guarantee
	 	 	8	 
	2.2 Payment
	 	 	8	 
	3 NATURE OF OBLIGATIONS
	 	 	9	 
	3.1 Principal Obligation
	 	 	9	 
	3.2 Primary debtor
	 	 	9	 
	3.3 Joint and several basis
	 	 	9	 
	4 NO RELEASE OF OBLIGATIONS
	 	 	9	 
	4.1 No Release of obligations
	 	 	9	 
	4.2 Release and compromise
	 	 	10	 
	5 ENFORCEABILITY
	 	 	10	 
	6 EXTENT OF GUARANTEE AND INDEMNITY
	 	 	11	 
	6.1 Present and future obligations
	 	 	11	 
	6.2 Irrespective of law or equity
	 	 	12	 
	6.3 No waiver
	 	 	12	 
	6.4 Cumulative
	 	 	12	 
	7 CONTINUING GUARANTEE AND INDEMNITY
	 	 	12	 
	7.1 Continuing Obligations
	 	 	12	 
	7.2 Deed Enforceable
	 	 	12	 
	8 RECOVERY OF IRRECOVERABLE MONEYS
	 	 	12	 
	8.1 Survival of obligation to pay
	 	 	12	 
	8.2 Recovery of irrecoverable Moneys
	 	 	13	 
	8.3 Avoidance of payment
	 	 	13	 
	9 GUARANTOR’S REPRESENTATIONS AND WARRANTIES
	 	 	13	 
	9.1 Representations and warranties
	 	 	13	 
	9.2 Reliance
	 	 	14	 
	10 NO RIGHTS OF SUBROGATION
	 	 	14	 
	10.1 No subrogation
	 	 	14	 
	10.2 Suspense account
	 	 	15	 
	11 NOTIFICATIONS AND DISCLOSURE
	 	 	15	 
	11.1 Obligations of the Guarantor
	 	 	15	 
	11.2 Non disclosure of Obligors affairs
	 	 	15	 
	12 SET OFF AND PAYMENTS IN GROSS
	 	 	15	 
	13 NO INDUCEMENT
	 	 	16	 
	14 MARSHALLING
	 	 	16	 
	14.1 No obligation to marshal
	 	 	16	 
	14.2 Canadian Secured Party’s discretion
	 	 	16	 
	15 CERTIFICATES
	 	 	16	 
	16 NOTICES
	 	 	16	 
	17 GENERAL
	 	 	16	 
	17.1 Entire agreement
	 	 	16	 
	17.2 Paramountcy of document
	 	 	17	 
	 
	 	 	 	 

Exhibit G-5
— Form of Australian Guarantee

Page 3

 

 

	 	 	 	 	 
	 	 	Page no.	 
	17.3 No merger
	 	 	17	 
	17.4 Attorneys
	 	 	17	 
	17.5 Amendment
	 	 	17	 
	17.6 Assignment
	 	 	17	 
	17.7 Severability
	 	 	17	 
	17.8 Waiver
	 	 	17	 
	17.9 Rights, remedies additional
	 	 	18	 
	17.10 Further assurances
	 	 	18	 
	17.11 Costs
	 	 	18	 
	17.12 Counterparts
	 	 	18	 
	17.13 Governing law and jurisdiction
	 	 	18	 
	SCHEDULE
1 — Guarantors
	 	 	19	 
	SCHEDULE
2 — BORROWERS
	 	 	20	 

Exhibit G-5
— Form of Australian Guarantee

Page 4

 

 

	THIS DEED is made on  	 	2010

PARTIES

	 	 	Each party listed in Schedule 1

(each a “Guarantor”)

	 
	 	 	and

	 
	 	 	ROYAL BANK OF CANADA]

in its capacity as the Canadian administrative agent and Canadian collateral agent for and
on behalf of the Canadian Secured Parties

of Level 46, 2 Park Street, Sydney NSW 2000

(“Collateral Agent”)

BACKGROUND

	A 	 	The Guarantors enter into this Deed to secure the payment of the Secured Moneys.
	 
	B 	 	The Canadian Secured Parties require the Guarantors execute this Deed as consideration for the Canadian Secured
Parties entering into the Credit Agreement (and thereby providing the Loans to the Canadian Borrowers).

AGREED TERMS

	1	 	Definitions and interpretation
	 
	1.1	 	Definitions

	 	 	In this document, unless the context requires otherwise:

	 	 	“Canadian Borrower” means each entity listed in Schedule 2.

	 	 	“Canadian Secured Parties” has, for the avoidance of doubt, the meaning given to the
term “Secured Parties” in the Canadian Security Agreement.

	 	 	“Claim” includes any liability or loss.

	 	 	“Costs” includes any charges and expenses, including those incurred in connection with
advisers.

	 	 	“Credit Agreement” means the Amended and Restated Credit Agreement dated on or about the
date of this Deed between Oil States International Inc., the Canadian Borrowers, Wells Fargo
Bank, N.A. as U.S. administrative agent and U.S. collateral agent, the Lenders, the
Collateral Agent and others.

Exhibit G-5 — Form of Australian Guarantee

Page 5

 

 

	 	 	“Deed” means this Deed of Guarantee.

	 	 	“Government Agency” means:

	 	(a)	 	a government or government department;

	 	(b)	 	a governmental, semi-governmental, regulatory or judicial entity or authority;
or

	 	(c)	 	a person (whether autonomous or not) who is charged with the administration of
a law.

	 	 	Loans” means:

	 	(d)	 	the Canadian Revolving Credit Loan or a Canadian Term Loan made pursuant to the
Credit Agreement; and

	 	(e)	 	any Canadian Letters of Credit issued to or for the account of the Canadian
Borrowers.

	 	 	“Obligor” means a Guarantor, a Borrower, a Canadian Subsidiary Guarantor, U.S. Borrower or a
U.S. Subsidiary Guarantor.

	 	 	“Release” means any of release, compromise, discharge, set off, disclaimer, abandonment,
alienation, abrogation, suspension, moratorium or other like action.

	 	 	“Secured Money” means all money which a Canadian Borrower is or at any time may become
actually or contingently liable to pay to or for the account of a Canadian Secured Party for
any reason whatsoever under or in connection with:

	 	(a)	 	the Loans, whether or not currently contemplated (including by way of
principal, interest, fees, costs, indemnity, Guarantee, charges, duties or expenses, or
payment of liquidated or unliquidated damages under or in connection with the Loans, or
as a result of a breach of or default under or in connection with the Loans);

	 	(b)	 	each Hedging Agreement entered into with a counterparty that was a Canadian
Lender (or an Affiliate of a Canadian Lender) at the time such Hedging Agreement was
entered into;

	 	(c)	 	any and all obligations whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired (including all renewals, extensions
and modifications thereof and substitutions therefor) in connection with Banking
Services; and

	 	(d)	 	all other monetary liabilities by way of principal, interest, fees, costs,
indemnity, Guarantee, charges, duties or expenses, or payment of liquidated or
unliquidated damages under or in connection with the Loan Documents, or as a result of
a breach of or default under or in connection with, the Loan Documents.

	 	 	It also includes money that the Canadian Borrowers would have been liable to pay but for its
Insolvency, or some other reason.

Exhibit G-5 — Form of Australian Guarantee

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	1.2	 	Incorporated definitions

	 	 	A word or phrase (other than one defined in clause 1.1) defined in the Credit Agreement has
the same meaning in this document.

	1.3	 	Interpretation

	 	 	In this document, unless the context requires otherwise:

	 	(a)	 	the singular includes the plural and vice versa;

	 	(b)	 	words denoting any gender include all genders;

	 	(c)	 	where a word or phrase is defined, its other grammatical forms have a
corresponding meaning;

	 	(d)	 	a reference to a party, clause, paragraph, schedule or annexure is a reference
to a party, clause, paragraph, schedule or annexure to or of this document;

	 	(e)	 	a reference to this document includes any schedules or annexures;

	 	(f)	 	headings are for convenience and do not affect interpretation;

	 	(g)	 	the background or recitals to this document are adopted as and form part of
this document;

	 	(h)	 	a reference to any document or agreement includes a reference to that document
or agreement as amended, novated, supplemented, varied or replaced from time to time;

	 	(i)	 	a reference to “$”, “A$” or “dollar” is a reference to Australian currency;

	 	(j)	 	a reference to a time is a reference to Australian Eastern Standard Time or
Australian Eastern Daylight Time, whichever is appropriate;

	 	(k)	 	a reference to a party includes its executors, administrators, successors,
substitutes (including persons taking by novation) and permitted assigns;

	 	(l)	 	a reference to writing includes any method of representing words, figures or
symbols in a permanent and visible form;

	 	(m)	 	words and expressions denoting natural persons include bodies corporate,
partnerships, associations, firms, governments and governmental authorities and
agencies and vice versa;

	 	(n)	 	a reference to any legislation or to any provision of any legislation includes:

	 	(i)	 	any modification or re enactment of the legislation;

	 	(ii)	 	any legislative provision substituted for, and all legislation,
statutory instruments and regulations issued under, the legislation or
provision; and

	 	(iii)	 	where relevant, corresponding legislation in any Australian
State or Territory;

Exhibit G-5 — Form of Australian Guarantee

Page 7

 

 

	 	(o)	 	no rule of construction applies to the disadvantage of a party because that
party was responsible for the preparation of this document or any part of it;

	 	(p)	 	the words “including”, “for example”, “such as” or other similar expressions
(in any form) are not words of limitation;

	 	(q)	 	a reference to any act of a company includes an act performed in general
meeting or on the company’s behalf by its directors, officers, employees, share
registrars, accountants, solicitors or agents; and

	 	(r)	 	a reference to a body (including, but not limited to, an institute, association
or authority) whether statutory or not:

	 	(i)	 	which ceases to exist; or

	 	(ii)	 	whose powers or functions are transferred to another body,

	 	 	is a reference to the body which replaces it or which substantially succeeds to its
powers or functions.

	1.4	 	Benefit of guarantees and indemnities

	 	 	The guarantees and the indemnities provided in this Deed are held by the Collateral Agent
for and on behalf of the Canadian Secured Parties and any amendment, waiver, consent or
decision under this Deed by the Collateral Agent will only be entered into, granted or made
in accordance with the terms of the Credit Agreement.

	1.5	 	Capacity of Collateral Agent

	 	 	The Collateral Agent enters into this Deed as trustee for the Canadian Secured Parties
pursuant to and in accordance with Section 8 of the Credit Agreement.

	2	 	Guarantee

	2.1	 	Guarantee

	 	 	The Guarantors unconditionally and irrevocably guarantee to the Collateral Agent:

	 	(a)	 	the due and punctual payment of any and all of the Secured Moneys as and when
due; and

	 	(b)	 	the punctual performance and observance of the Canadian Borrowers’ other
obligations under the Credit Agreement and the other Loan Documents.

	2.2	 	Payment

	 	 	The Guarantors unconditionally and irrevocably agree to pay to the Collateral Agent the
Secured Moneys in the same manner as the Canadian Borrowers are required to pay the Secured
Moneys upon receipt by the Guarantors of any demand in writing made by the 

Exhibit G-5 — Form of Australian Guarantee

Page 8

 

 

	 	 	Collateral Agent
on a Guarantor if the Canadian Borrowers do not pay the Secured Moneys on time and in
accordance with the Loan Documents.
	 
	3	 	Nature of obligations

	3.1	 	Principal Obligation

	 	 	Each obligation of the Guarantors under this Deed is a principal obligation and is not
ancillary or collateral to any other obligation howsoever created or arising.

	3.2	 	Primary debtor

	 	 	As between the Guarantors and the Collateral Agent, the Guarantors are liable under this
Deed as a principal and as a primary debtor for the payment of the Secured Moneys.

	3.3	 	Joint and several basis

	 	 	The guarantees and the indemnities provided in this Deed by the Guarantors are made on joint
and several basis and references to the “Guarantors” are therefore references to the
Guarantors jointly and severally.

	4	 	No release of obligations

	4.1	 	No Release of obligations

	 	 	The liability of the Guarantors under this Deed shall not be affected by any act, omission,
matter or thing which but for this provision might operate to Release or otherwise exonerate
the Guarantors from its obligations in whole or in part including, without limitation:

	 	(a)	 	the grant to any one or more persons of time, waiver or other indulgence or
consideration or concession, approval or consent, or the Release or discharge of any
one or more of the Obligors;

	 	(b)	 	the compounding, dealing or compromise with or Release of any one or more of
the Obligors or any other person in relation to all or any part of the Secured Moneys;

	 	(c)	 	the agreement to any new term for, or any extension or other variation of, a
Loan Document or any novation or assignment of any interest, right or obligation of any
party to a Loan Document;

	 	(d)	 	the postponement of the exercise of any power of sale or any other power right
or remedy conferred on a Canadian Secured Party by any Loan Document;

	 	(e)	 	the enforcement or forbearance from enforcing:

	 	(i)	 	any provision in or implied by any Loan Document or any other
document or agreement; or

Exhibit G-5 — Form of Australian Guarantee

Page 9

 

 

	 	(ii)	 	any other rights, remedies or securities of or available to the
Collateral Agent under or in respect of or implied by any Loan Document or any
other agreement or otherwise;

	 	(f)	 	the holding or taking of additional Liens and/or collateral Guarantees from any
Obligor to secure part of or the whole of the Secured Moneys or any obligation of the
Canadian Borrowers under a Loan Document;

	 	(g)	 	the recovery of any judgment against the Canadian Borrowers;

	 	(h)	 	the failure or omission by a Canadian Secured Party, the Canadian Borrowers or
any other person to give notice to a Guarantor of any default by any Obligor under any
Loan Document or any other agreement or arrangement with a Canadian Secured Party; or

	 	(i)	 	any legal limitation, disability, incapacity, failure or other circumstance
related to any Obligor or any other person.

	4.2	 	Release and compromise

	 	 	In addition to and without in any way limiting the provisions of clause 4.1, the Collateral
Agent or a Canadian Secured Party may at any time and from time to time (whether in respect
of a Loan Document or the Secured Moneys or otherwise) exercise any of their rights and
powers against or Release or compromise or compound with any Obligor without giving notice
to or obtaining the consent of the Guarantors, and without in any way releasing, discharging
or affecting the liability of the Guarantors under this Deed or prejudicing or affecting any
right, power, claim or remedy that the Collateral Agent may have against the Guarantors
under this Deed.

	5	 	Enforceability

	 	 	This Deed shall at all times be absolute, unconditional, valid and enforceable
against the Guarantors and shall not be subject to any reduction, termination or other
impairment by any set-off, deduction, counterclaim, agreement, defence, suspension,
deferment or otherwise and the Guarantors shall not be Released, relieved or discharged from
any obligations under this Deed nor shall any such obligations be prejudiced or affected by
any reason whatsoever including without limitation:

	 	(a)	 	any default, misrepresentation, negligence or other action or inaction of any
kind by a Canadian Secured Party or any other person whether under or in connection
with any Loan Document or any unrelated transaction;

	 	(b)	 	any falsity, inaccuracy, insufficiency or forgery of or in any certification or
notice which on its face is or purports to be given, signed or authorised pursuant to a
Loan Document;

	 	(c)	 	any failure by the Collateral Agent, a Canadian Secured Party or any Obligor to
enquire whether any certification or notice has been inaccurately transmitted, sent or
received or has been sent by an authorised person;

	 	(d)	 	any dissolution of any Obligor or any other person;

Exhibit G-5 — Form of Australian Guarantee

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	 	(e)	 	any impossibility or illegality of performance of the obligations under this
Deed or any Loan Document or any other agreement or any act of any Governmental Agency
or arbitrator, including any law now or hereafter in effect in any jurisdiction
affecting any of the terms of this Deed, any other document issued, procured to be issued or
delivered pursuant to this Deed or any Loan Document and any other agreement entered
into or delivered pursuant to or in connection with this Deed;

	 	(f)	 	the granting by a Canadian Secured Party to any Obligor at any time, of any
indulgence, consideration or time to do or perform any act matter or thing required to
be done pursuant to or in connection with the Loan Documents, the Secured Moneys or in
connection with any unrelated transaction;

	 	(g)	 	by reason of any transaction or arrangement which may take place between a
Canadian Secured Party and any one or more of the Obligors;

	 	(h)	 	a Canadian Secured Party or any Obligor or any of them becoming a party to or
bound by any administration of affairs;

	 	(i)	 	any neglect, omission or default of a Canadian Secured Party or any Obligor
whereby the whole or any part of the liability of any Obligor to any Canadian Secured
Party under any Loan Document would but for this provision have been affected or
discharged (whether in whole or in part);

	 	(j)	 	a Canadian Secured Party failing or neglecting to recover by the realisation of
any Lien held by that Canadian Secured Party or otherwise any of the Secured Moneys;

	 	(k)	 	any other laches, acts or omission or mistake on the part of a Canadian Secured
Party or any Obligor;

	 	(l)	 	the whole or partial Release or transfer of any Liens held by a Canadian
Secured Party whether for consideration or not;

	 	(m)	 	any agreement, or any understanding, contract or written arrangement between a
Canadian Secured Party and any Obligor which is, becomes or is proven to be illegal,
invalid, void, voidable or unenforceable for any reason whatsoever;

	 	(n)	 	any variation, amendment or novation of any Loan Document or of any of the
obligations of the Canadian Secured Parties and/or any Obligor arising pursuant to a
Loan Document or any agreement to vary, amend or novate any one or more of such
obligations or a Loan Document; and

	 	(o)	 	any transfer or assignment of the rights of a Canadian Secured Party or any
Obligor pursuant to a Loan Document to any person or any agreement to transfer or
assign such rights.

	6	 	Extent of guarantee and indemnity
	 
	6.1	 	Present and future obligations
	 
	 	 	This Deed applies to the present and future obligations of the Guarantors under this Deed.

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	6.2	 	Irrespective of law or equity

	 	 	This Deed applies irrespective of any rule or law or equity to the contrary. Each Guarantor
waives all of its respective rights, whether as surety or otherwise and whether legal,
equitable, statutory or otherwise, that may at any time be contrary to or inconsistent with
this Deed.

	6.3	 	No waiver

	 	 	No failure to exercise and no delay in exercising, on the part of a Canadian Secured Party,
any right or remedy under this Deed shall operate as a waiver, nor shall any single or
partial exercise of any right or remedy preclude any other or further exercise of that or
any other right or remedy.

	6.4	 	Cumulative

	 	 	The rights and remedies provided in this Deed are cumulative and are not exclusive of any
rights or remedies provided by law.

	7	 	Continuing guarantee and indemnity

	7.1	 	Continuing Obligations

	 	 	The guarantees and the indemnities provided in this Deed are continuing guarantees and
indemnities and accordingly neither this Deed nor any obligation of a Guarantor under this
Deed shall be, or be considered or deemed to be, discharged or Released in any way other
than by:

	 	(a)	 	the payment of the Secured Moneys; and

	 	(b)	 	the issue to and receipt by the Guarantors of a deed of release and discharge
executed by the Collateral Agent in respect of this Deed.

	7.2	 	Deed Enforceable

	 	 	Each of the provisions of this Deed are enforceable unless they have been satisfied
according to the terms of this Deed notwithstanding that any obligation arising under any
Loan Document may be wholly or partially extinguished, Released or unenforceable for any
reason whatsoever.

	8	 	Recovery of irrecoverable moneys

	8.1	 	Survival of obligation to pay

	 	 	Clause 8.2 applies if:

	 	(a)	 	a Canadian Borrower is, becomes, or is held or found not to be bound or no
longer to be bound by the provisions of a Loan Document to which it is a party; or

Exhibit G-5 — Form of Australian Guarantee

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	 	(b)	 	liabilities of a Canadian Borrower under a Loan Document to which it is a party
or any other obligation of that Canadian Borrower whatsoever, is or are abrogated,
suspended, reduced, diminished, disclaimed or modified in any way,

	 	 	whether by operation of law (including but not limited to incapacity, disability, voidness,
unenforceability, illegality or any invalidating cause whatsoever under any law) or for any
other reason whatsoever.

	8.2	 	Recovery of irrecoverable Moneys

	 	 	If this clause 8.2 applies, the Guarantors:

	 	(a)	 	as a separate, independent and additional liability under this Deed, agree to
indemnify and keep indemnified the Collateral Agent in respect of all Claims and Costs
which the Collateral Agent or other Canadian Secured Parties may suffer or incur by
reason of or in respect of all claims caused or contributed to by the irrecoverability
of that part of the Secured Moneys; and

	 	(b)	 	as principal debtors, agree to pay to the Collateral Agent on demand in writing
made from time to time and at any time a sum equal to the amount of such of the Secured
Moneys owed by the Canadian Borrowers which are so irrecoverable and the terms of this
Deed shall, mutatis mutandis, apply as far as possible as if the sums of money covered
by this indemnity were defined in this Deed to be part of the Secured Moneys.

	8.3	 	Avoidance of payment

	 	 	If any payment that has been made to a Canadian Secured Party by or on behalf of any Obligor
is subsequently avoided by reason of or pursuant to any law or otherwise, then:

	 	(a)	 	the payment shall be deemed not to have discharged or affected the liability of
the Guarantors under this Deed; and

	 	(b)	 	that Canadian Secured Party and each Obligor shall be restored to the position
each would have been in and that Canadian Secured Party shall be entitled to exercise
all the powers, rights and remedies which that Canadian Secured Party would have had if
the payment had not been made.

	9	 	Guarantor’s representations and warranties

	9.1	 	Representations and warranties

	 	 	Each Guarantor represents and warrants that as at the date of this Deed:

	 	(a)	 	all the representations and warranties relating to it in the Credit Agreement
are true and correct in all material respects (provided that to the extent any
representation and warranty is qualified as to “Material Adverse Effect” or otherwise
as to “materiality”, such representation and warranty is true and correct in all
respects);

	 	(b)	 	it has the power to enter into this Deed and has taken all necessary action to
authorise the execution, deliver and performance of this Deed;

Exhibit G-5 — Form of Australian Guarantee

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	 	(c)	 	this Deed constitutes a legally valid and binding obligation of the Guarantors
enforceable in accordance with its terms; and

	 	(d)	 	the execution, delivery and performance of this Deed will not violate any
provision of:

	 	(i)	 	any law or regulation or any order or decree of any
Governmental Agency of the Commonwealth of Australia or any state or territory;
and

	 	(ii)	 	except in respect of a Loan Document, any security agreement,
deed, contract, undertaking or other instrument to which the Guarantors are a
party or which is binding on the Guarantors and does not and will not result in
the creation or imposition of any security over any of its assets pursuant to
the provision of any such security agreement, deed, contract, undertaking or
other instrument.

	9.2	 	Reliance

	 	 	The Guarantors acknowledge that in continuing to provide financial accommodation pursuant to
a Loan Document the relevant Canadian Secured Party has relied on the representations and
warranties (including but not limited to those in clauses 9.1) given by the Guarantors in
this Deed.

	10	 	No rights of subrogation

	10.1	 	No subrogation

	 	 	Until the Canadian Secured Parties have been irrevocably paid and have unconditionally
received all the Secured Moneys owing to the Canadian Secured Parties and each Obligor has
complied with all the provisions and obligations under each Loan Document to be performed
and observed by that Obligor, the Guarantors shall not be entitled on any ground whatsoever
to:

	 	(a)	 	assert any right of contribution or to be subrogated in respect of any moneys
paid to the Canadian Secured Parties; or

	 	(b)	 	to marshal or claim the benefit of any Lien held by the Canadian Secured
Parties; and

	 	(c)	 	in the event of the administration of the affairs of a Canadian Borrower,
either directly or indirectly to receive the benefit of any dividend or payment
resulting from that administration without the prior written consent of the Collateral
Agent or to lodge any proof or to make any claim in respect thereof in competition with
the Canadian Secured Parties so as to diminish any amount that but for such dividend
payment proof or claim, the Canadian Secured Parties would be entitled to receive. The
receipt by the Canadian Secured Parties of any dividend or other payment in any such
circumstances shall not prejudice the right of the Collateral Agent to recover from the
Guarantors so much of the Secured Moneys as have not been paid to the Collateral Agent.

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	10.2	 	Suspense account

	 	 	The Guarantors authorise any Canadian Secured Party to prove in the dissolution of any
person for all moneys which the Guarantors shall have paid under this Deed and to retain and
to carry into a suspense account and to appropriate at the discretion of the Canadian
Secured Parties any dividends received in the dissolution of any such person and all other
moneys received in respect of the Secured Moneys (including, without limitation, received
under this Deed) until the Canadian Secured Parties have been paid in full in respect of the
Secured Moneys.

	11	 	Notifications and disclosure

	11.1	 	Obligations of the Guarantor

	 	 	The Guarantors agree to notify the Collateral Agent in writing forthwith if a Guarantor
becomes aware:

	 	(a)	 	of any Event of Default under any Loan Document or any event which with the
giving of notice of lapse of time or other event may become an Event of Default under,
or breach of any provision of, any Loan Document; or

	 	(b)	 	of any breach or default hereunder by a Guarantor or any fact, matter or thing
which may materially affect a Guarantors’ ability to perform any of its obligations
under this Deed.

	11.2	 	Non disclosure of Obligors affairs

	 	 	The Collateral Agent is not obliged to disclose to the Guarantors anything relating to any
Obligor or its affairs or to any transaction or agreement contemplated or entered into
between a Canadian Secured Party and any Obligor and no failure to make any disclosure shall
entitle the Guarantors to the Release or discharge of any of its obligations under this
Deed.

	12	 	Set off and payments in gross

	 	(a)	 	The Collateral Agent may, if a Guarantor has an account with the Collateral Agent,
use any credit balance in that account to pay any Secured Moneys which are due and
payable under this Deed.

	 	(b)	 	All payments which the Guarantors are required to make under this Deed must be:

	 	(i)	 	without any set-off, counterclaim or condition; and

	 	(ii)	 	without any deduction or withholding for any tax or duty or any
other reason.

Exhibit G-5 — Form of Australian Guarantee

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	13	 	No inducement

	 	 	The Guarantors agree and acknowledge that, except for the consideration expressly
recited, the Guarantors were not induced to enter into and to execute this Deed by any
consideration, promise, representation statement or information of any kind or nature
whatsoever (whether express or implied and whether solicited or unsolicited) given or
offered to the Guarantors by or on behalf of a Canadian Secured Party or by any Obligor.

	14	 	Marshalling

	14.1	 	No obligation to marshal

	 	 	The Collateral Agent shall be under no obligation to marshal in favour of the Guarantors any
Lien held by the Collateral Agent or any of the funds or assets which or upon which the
Collateral Agent may be entitled to receive or claim.

	14.2	 	Canadian Secured Party’s discretion

	 	 	A Canadian Secured Party may at its absolute discretion vary, exchange, renew, modify,
Release, refuse to complete or to enforce or to assign any judgment, specialities, Guarantee
or other securities or instruments, whether negotiable or otherwise, held by a Canadian
Secured Party and whether satisfied by payment or not, without affecting or discharging the
liability of the Guarantors under this Deed.

	15	 	Certificates

	 	 	Any certificate signed by the Collateral Agent certifying the amount of any liability
of a Guarantor under this Deed at the date stated in the certificate or certifying as to any
other act, matter or thing relating to this Deed as at the date so stated shall in all
courts and at all times be conclusive evidence of what is so certified, save for manifest
error.

	16	 	Notices

	 	 	Section 9.01 of the Credit Agreement will apply with respect to all notices, notices,
requests, demands, consents, approvals, offers, agreements or other communications
(“notices”) given by a party under or in connection with this Deed, and the address for
service for all notices to the Guarantors shall be given to it care of the Canadian
Borrowers.

	17	 	General

	17.1	 	Entire agreement

	 	 	This document constitutes the entire agreement between the parties in relation to its
subject matter. All prior discussions, undertakings, agreements, representations,
warranties and

Exhibit G-5 — Form of Australian Guarantee

Page 16

 

	 	 	indemnities in relation to that subject matter are replaced by this document
and have no further effect.

	17.2	 	Paramountcy of document

	 	 	If this document conflicts with any other document, agreement or arrangement, this document
prevails to the extent of the inconsistency.

	17.3	 	No merger

	 	 	The provisions of this document will not merge on completion of any transaction contemplated
in this document and, to the extent any provision has not been fulfilled, will remain in
force.

	17.4	 	Attorneys

	 	 	Each person who executes this document on behalf of a party under a power of attorney
warrants that he or she has no notice of the revocation of that power or of any fact or
circumstance that might affect his or her authority to execute this document under that
power.

	17.5	 	Amendment

	 	 	This document may not be amended or varied unless the amendment or variation is in writing
signed by all parties, together with any consents required under the Credit Agreement.

	17.6	 	Assignment

	 	 	No Guarantor may assign or transfer its rights or obligations under this Deed without the
prior written consent of the Collateral Agent and to the extent permitted under the Credit
Agreement. The Collateral Agent may assign its rights under this Deed, subject to complying
with any requirements specified in the Credit Agreement.

	17.7	 	Severability

	 	 	Part or all of any provision of this document that is illegal or unenforceable will be
severed from this document and will not affect the continued operation of the remaining
provisions of this document.

	17.8	 	Waiver

	 	 	Waiver of any power or right under this document:

	 	(a)	 	must be in writing signed by the party entitled to the benefit of that power or
right; and

	 	(b)	 	is effective only to the extent set out in that written waiver.

Exhibit G-5 — Form of Australian Guarantee

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	17.9	 	Rights, remedies additional

	 	 	Any rights and remedies that a person may have under this document are in addition to and do
not replace or limit any other rights or remedies that the person may have.

	17.10	 	Further assurances

	 	 	Each party must do or cause to be done all things necessary to give full effect to this
document and the transactions contemplated by it (including, but not limited to, the
execution of documents).

	17.11	 	Costs

	 	 	The provisions in Section 9.05 of the Credit Agreement shall apply with respect to the costs
incurred by a Canadian Secured Party in respect to the preparation, negotiation, execution
and delivery of this Deed. The Guarantors will bear their own legal, accounting and other
costs for the preparation and execution of this Deed.

	17.12	 	Counterparts

	 	 	This document may be executed in any number of counterparts and all counterparts taken
together will constitute one document.

	17.13	 	Governing law and jurisdiction

	 	 	This document will be governed by and construed in accordance with the laws in force in the
State of Victoria and each party submits to the non-exclusive jurisdiction of the courts of
that State.

	19.9	 	Inconsistency

	 	 	In the event there is any inconsistency between:

	 	(a)	 	the provisions of this Deed; and

	 	(b)	 	the provisions of the Credit Agreement,

	 	 	the provisions of the Credit Agreement prevail to the extent of the inconsistency.

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Page 18

 

SCHEDULE 1 — GUARANTORS

	2.	 	PTI Holding Company 1 Pty Limited ACN 146 700 441.

	3.	 	PTI Holding Company 2 Pty Limited ACN 146 700 487.

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Page 19

 

SCHEDULE 2 — BORROWERS

	4.	 	PTI Group Inc., a corporation amalgamated under the laws of the Province of Alberta.

	5.	 	PTI Premium Camp Services Ltd., a corporation amalgamated under the laws of the Province of
Alberta.

Exhibit G-5 — Form of Australian Guarantee

Page 20

 

EXECUTED as a DEED

	 	 	 	 	 	 	 

	SIGNED, SEALED AND DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorney for PTI HOLDING COMPANY 1

	 	 	)	 	 	 
	PTY LIMITED ACN 146 700 441 under

	 	 	)	 	 	 
	power of attorney dated

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	Signature of witness

	 	 	)	 	 	By executing this deed the attorney
	 

	 	 	)	 	 	states that the attorney has received
	 

	 	 	)	 	 	no notice of revocation of
	Name of witness (block letters)

	 	 	)	 	 	the power of attorney

	 	 	 	 	 	 	 

	SIGNED, SEALED AND DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorney for PTI HOLDING

	 	 	)	 	 	 
	COMPANY 2 PTY LIMITED ACN 146

	 	 	)	 	 	 
	700 487 under

	 	 	)	 	 	 
	power of attorney dated

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	Signature of witness

	 	 	)	 	 	By executing this deed the attorney
	 

	 	 	)	 	 	states that the attorney has
	 

	 	 	)	 	 	received no notice of revocation
	 

	 	 	)	 	 	of the power of attorney

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Page 21

 

ROYAL BANK OF CANADA, in its capacity
as the
Canadian administrative agent and
Canadian
collateral agent for and on behalf of
the
Canadian Secured Parties

	 	 	 	 	 

	By: 	 	 	 
	 	Name: 
	 	 	 
	 	Title:
	 	 	 
	 

	 	 

	 	 

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Page 22

 

EXHIBIT H-1

[Form of]

OPINION OF VINSON & ELKINS L.L.P.

December 10, 2010

Each of the Addressees Listed in

the Attached Schedule I

     Re:     $1,050,000,000 Credit Facility

Ladies and Gentlemen:

     We have acted as counsel to Oil States International, Inc., a corporation organized under the
laws of the State of Delaware (the “U.S. Borrower”), in connection with certain aspects of
the transactions contemplated by the Amended and Restated Credit Agreement, dated as of December
10, 2010 (the “Agreement”), among the U.S. Borrower, PTI Group, Inc., a corporation
amalgamated under the laws of the Province of Alberta (the “Canadian Parent”), PTI Premium
Camp Services Ltd., a corporation amalgamated under the laws of the Province of Alberta (“PTI
Premium” and collectively with the Canadian Parent, the “Canadian Borrowers”), the
lenders party thereto, Wells Fargo Bank, N.A., as administrative agent (the “Administrative
Agent”) and as U.S. collateral agent (the “U.S. Collateral Agent”), and Royal Bank of
Canada, as Canadian administrative agent (the “Canadian Administrative Agent”) and as
Canadian collateral agent (the “Canadian Collateral Agent”). This opinion letter is
furnished to you pursuant to Section 4.02(a)(iii) of the Agreement. Unless otherwise defined in
the body of this opinion letter, capitalized terms used herein shall have the meanings assigned to
such terms in the Agreement. Other terms that are defined in the Uniform Commercial Code as in
effect in the State of New York (the “NY UCC”) have the same meaning when used herein
unless otherwise indicated by the context in which such terms are so used.

     In rendering the opinions set forth below, we have reviewed an execution copy of the following
documents and instruments:

     (i) the Agreement;

     (ii) each U.S. Revolving Note, dated as of December 10, 2010 by the U.S. Borrower in
favor of a U.S. Lender;

     (iii) each U.S. Term Note, dated as of December 10, 2010 by the U.S. Borrower in favor
of a U.S. Lender;

Exhibit H-1 — Form of Opinion of Vinson & Elkins L.L.P.

Page 1

 

     (iv) the Amended and Restated U.S. Pledge Agreement, dated as of December 10, 2010 (the
“U.S. Pledge Agreement”), among the U.S. Borrower, the Subsidiary Pledgors party
thereto and the U.S. Collateral Agent;

     (v) the Amended and Restated U.S. Security Agreement, dated as of December 10, 2010
(the “U.S. Security Agreement”), among the U.S. Borrower, the U.S. Subsidiary
Guarantors party thereto and the U.S. Collateral Agent;

     (vi) the Amended and Restated U.S. Borrower Guarantee Agreement, dated as of December
10, 2010 (the “U.S. Borrower Guarantee Agreement”), among the U.S. Borrower and the
Canadian Collateral Agent;

     (vii) the Amended and Restated U.S. Subsidiary Guarantee Agreement, dated as of
December 10, 2010 (the “U.S. Subsidiary Guarantee Agreement”), among the U.S.
Subsidiary Guarantors party thereto and the U.S. Collateral Agent;

     (viii) each of the agreements listed on Schedule II hereto (“Applicable
Contracts”);

     (ix) the Designated Companies’ constitutive documents listed on Schedule III hereto
(the “Organizational Documents”); and

     (x) unfiled copies of the UCC-1 Financing Statements listed on Schedule IV hereto (the
“UCC Financing Statements”). 

     The documents listed in clause (i) through (vii) above are referred to herein as the
“Opinion Documents”. Additionally, in rendering the opinions set forth below, we have
reviewed such other records, certificates and documents as we have deemed appropriate for the
purposes of such opinions. As to any facts material to our opinion, we have made no independent
investigation of such facts and have relied, to the extent that we deem such reliance proper, upon
statements of public officials and officers or other representatives of the Designated Companies
and on the representations and warranties relating to factual matters set forth in the Opinion
Documents. As used herein, the term “Designated Subsidiary” means, collectively, the
entities referred to on Schedule V hereto. As used herein, the term “Designated Companies”
means, collectively, the U.S. Borrower and the Designated Subsidiaries.

     In rendering the opinions expressed below, we have assumed the legal capacity of all natural
persons, the genuineness of all signatures, the authenticity of all documents submitted to us as
originals, and the conformity to authentic original documents of all documents submitted to us as
copies, which assumptions we have not independently verified. In addition, with your permission
and without independent investigation, we have made the following assumptions:

     (i) Each party to the Opinion Documents other than the Designated Companies (each such
party a “Transaction Party”) is a corporation, partnership, limited liability
company or other entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization;

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Page 2

 

     (ii) Each Transaction Party has full power and authority (corporate, partnership,
limited liability company or otherwise) to execute, deliver and perform its obligations
under the Opinion Documents to which it is a party;

     (iii) Each Opinion Document has been duly executed and delivered by each Transaction
Party that is a party thereto;

     (iv) The execution, delivery and performance by each Transaction Party of the Opinion
Documents to which it is a party have been duly authorized by all necessary entity action
(corporate, partnership, limited liability company or otherwise) and do not contravene the
constituent documents of such Transaction Party;

     (v) The execution, delivery and performance by each Transaction Party and the
Designated Companies of the Opinion Documents to which it is a party do not result in the
breach of any document or instrument binding on it, except that we have not made such
assumption with respect to (a) the Organizational Documents, as to which we express our
opinion in paragraph 5(a) below, and (b) the Applicable Contracts, as to which we express
our opinion in paragraph 5(c) below;

     (vi) The execution, delivery and performance by each Transaction Party and each
Designated Company of the Opinion Documents to which it is a party do not contravene any
provision of any law, rule, regulation, order, validation, writ, judgment, injunction,
decree, determination or award applicable to any of them, except that we have not made such
assumption with respect to Applicable Laws (as defined in paragraph 5 below) and Applicable
Orders (as defined in paragraph 5 below), in each case applicable to Designated Companies
and the Canadian Borrowers, as to which we express our opinion in paragraphs 5(b) and 5(d)
below;

     (vii) No authorization, approval, consent, order, validation, license, franchise,
permit or other action by, and no notice to or filing, recording or registration with, any
Governmental Authority or any other third party is required for the due execution, delivery
and performance by each Transaction Party and each Designated Company of the Opinion
Documents to which it is a party that has not been duly obtained or made and that is not in
full force and effect, except that we have not made such assumption with respect to
Governmental Approvals (as defined in paragraph 6 below) required to be obtained or taken by
any Designated Company or any Canadian Borrower as to which we express our opinion in
paragraph 6 below;

     (viii) The Opinion Documents constitute the valid, binding and enforceable obligations
of each party thereto (other than each Designated Company and each Canadian Borrower); and

     (ix) The laws of any jurisdiction other than the laws that are the subject of this
opinion letter do not affect the terms of the Opinion Documents or the opinion rendered
herein.

     Based upon the foregoing, and subject to the assumptions, qualifications, exceptions and
limitations set forth herein, it is our opinion that:

Exhibit H-1 — Form of Opinion of Vinson & Elkins L.L.P.

Page 3

 

	 	1.	 	(a) Each Delaware Corporation is validly existing and is in good standing under
the laws of the State of Delaware.

	 	(b)	 	Each Delaware Limited Liability Company is validly existing and in good standing
under the laws of the State of Delaware.
	 
	 	(c)	 	Each Texas Corporation is validly existing and is in good standing under the laws of
the State of Texas.

	 	2.	 	(a) Each Delaware Corporation has the corporate power and authority to execute
and deliver each Opinion Document to which it is a party and to perform its obligations
thereunder. The execution and delivery by each Delaware Corporation of each Opinion
Document to which it is a party and the performance by such Delaware Corporation of its
obligations thereunder have been duly authorized by all requisite corporate action on
the part of such Delaware Corporation.

	 		 	(b)  Each Delaware Limited Liability Company has the limited liability company power and
authority to execute and deliver each Opinion Document to which it is a party and to
perform its obligations thereunder. The execution and delivery by each Delaware Limited
Liability Company of each Opinion Document to which it is a party and the performance by
each such Delaware Limited Liability Company of its obligations thereunder have been
duly authorized by all requisite limited liability company action on the part of such
Delaware Limited Liability Company.
	 
	 		 	(c) Each Texas Corporation has the corporate power and authority to execute and deliver
each Opinion Document to which it is a party and to perform its obligations thereunder.
The execution and delivery by each Texas Corporation of each Opinion Document to which
it is a party and the performance by such Texas Corporation of its obligations
thereunder have been duly authorized by all requisite corporate action on the part of
such Texas Corporation.

	 	3.	 	Each Opinion Document to which each Designated Company is a party has been duly
executed and delivered by such Designated Company.

	 	4.	 	Each Opinion Document to which a Designated Company or a Canadian Borrower is a
party constitutes the valid and binding obligation of such Designated Company or
Canadian Borrower enforceable against such Designated Company or Canadian Borrower in
accordance with its terms under the laws of the State of New York.

	 	5.	 	The execution and delivery by each Designated Company and each Canadian
Borrower of each Opinion Document to which it is a party do not, and the performance by
such Designated Company and such Canadian Borrower of its obligations thereunder will
not: (a) with respect to any Designated Company, violate such Designated Company’s
Organizational Documents; (b) result in any violation by the Designated Company or any
Canadian Borrower of any Applicable Law (as defined below); (c) breach or result in a
default under any Applicable Contract; or (d) result in any violation of any order,
writ, judgment or decree listed in Schedule VI hereto (“Applicable Orders”).

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 4

 

	 	 	 	“Applicable Laws” means those laws of the State of New York and the United States of
America and the rules and regulations adopted thereunder that, in our experience, are
normally applicable to transactions of the type contemplated by the Opinion Documents.
Furthermore, the term “Applicable Laws” does not include, and we express no opinion with
regard to (a) any state or federal laws, rules or regulations relating to: (i) pollution or
protection of the environment; (ii) zoning, land use, building or construction; (iii)
occupational, safety and health or other similar matters; (iv) labor and employee rights and
benefits, including, without limitation, the Employee Retirement Income Security Act of
1974, as amended; (v) the regulation of utilities, including without limitation, the Federal
Power Act, the Public Utility Holding Company Act of 2005 and the Public Utility Regulatory
Policies Act of 1978, as amended; (vi) antitrust and trade regulation; (vii) tax; (viii)
except as expressly set forth in paragraph 10 below, securities, including without
limitation, the Investment Company Act of 1940, as amended; (ix) corrupt practices,
including, without limitation, the Foreign Corrupt Practices Act of 1977; (x) copyrights,
patents and trademarks; and (xi) communication, telecommunication or similar matters; and
(b) any laws, rules or regulations of any county, municipality or similar political
subdivision or any agency or instrumentality thereof.

	 	6.	 	No Governmental Approval (as defined below) that has not been obtained or taken
and is not in full force and effect, is required to be obtained or taken by any
Designated Company or any Canadian Borrower to authorize, or is required in connection
with, the execution and delivery by such Designated Company or any Canadian Borrower of
each Opinion Document to which it is a party or the performance by such Designated
Company or any Canadian Borrower of its obligations thereunder except: (a) the filing
of the UCC Financing Statements in the filing offices set forth in paragraph 8 below;
and (b) Governmental Approvals not required to consummate the transactions occurring on
the date hereof but required to be obtained or made after the date of this opinion
letter to enable each Designated Company or each Canadian Borrower to comply with
requirements of Applicable Law including those required to maintain existence and good
standing of such Designated Company or such Canadian Borrower.

	 	 	 	“Governmental Approvals” means any consent, approval, license or authorization of,
or filing, recording or registration with, any Governmental Authority pursuant to any
Applicable Laws (as defined in paragraph 5 above).

	 	7.	 	The provisions of the U.S. Security Agreement and the U.S. Pledge Agreement are
effective to create in favor of the U.S. Collateral Agent to secure the Obligations (as
defined therein), a valid security interest in all of the applicable Designated
Company’s right, title and interest in and to that portion of the Collateral (as
defined therein) in which a security interest may be created under Article 9 of the NY
UCC without giving effect to the laws referred to in Section 9-201 thereof (the
“Article 9 Collateral”).

	 	8.	 	To the extent that the filing of a financing statement can be effective to
perfect a security interest in the Article 9 Collateral under the Uniform Commercial
Code as in effect in the State of Delaware (the “Delaware UCC”), or the Uniform
Commercial

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 5

 

	 	 	 	Code as in effect in the State of Texas (the “Texas UCC”), the security interest
in favor of the U.S. Collateral Agent in that portion of the Article 9 Collateral
described in the UCC Financing Statements will be perfected upon the proper filing of
the UCC Financing Statements in the office of the Secretary of State of the State of
Delaware (with respect to the Delaware Corporations and the Delaware Limited Liability
Companies) and the Secretary of State of the State of Texas (with respect to the Texas
Corporations). For purposes of our opinion set forth in this paragraph 8 as to the
Delaware UCC, we have based such opinion solely on our review of the generally available
compilations of Article 9 of the Delaware UCC as in effect on the date hereof and we
have not reviewed any other laws of the State of Delaware in connection with such
opinion or retained or relied on any opinion or advice of Delaware counsel.

	 	9.	 	With respect to that portion of the Article 9 Collateral consisting of the
Certificated Securities described on Schedule VII hereto, upon the U.S. Collateral
Agent taking possession in the State of New York of the certificates evidencing such
Certificated Securities which are accompanied by undated stock powers with respect
thereto duly indorsed in blank by an effective endorsement, the security interest of
the U.S. Collateral Agent therein is perfected by “control” (within the meaning of
Section 8-106 of the NY UCC).

	 	10.	 	No Designated Company is an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.

	 	11.	 	We call your attention to the fact that the Opinion Documents select the
internal laws of the State of New York as the governing law except, with respect to the
U.S. Security Agreement and U.S. Pledge Agreement, where the laws of another
jurisdiction govern perfection and the effect of perfection or non-perfection. It is
our opinion that a federal or state court sitting in the State of New York should honor
the parties’ choice of the internal laws of the State of New York as the law applicable
to the Opinion Documents (to the extent set forth in such Opinion Documents).

	 	12.	 	Assuming that the Designated Companies and the Canadian Borrowers will comply
with the provisions of the Agreement relating to the use of proceeds, the execution and
delivery of the Agreement by the Designated Companies and the Canadian Borrowers and
the making of the Loans thereunder and the application of the proceeds thereof does not
violate Regulation U or X of the Board of Governors of the Federal Reserve System.

     In rendering the foregoing opinions, we have also assumed, with your permission, and without
independent investigation on our part, the following:

     A. With respect to our opinions set forth in paragraphs 7 through 9 above, we have assumed
that each Designated Company has, or has the power to transfer, rights in the properties in which
it is purporting to grant a security interest sufficient for attachment of such security interest
within the meaning of Section 9-203 of the NY UCC and the Delaware UCC and Section 9.203 of the
Texas UCC.

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 6

 

     B. With respect to our opinions set forth in paragraphs 7 through 9 above, we have assumed
that the U.S. Collateral Agent has acquired its interests in the Article 9 Collateral for value
within the meaning of Section 9-203 of the NY UCC and the Delaware UCC and Section 9.203 of the
Texas UCC.

     C. With respect to our opinions set forth in paragraphs 7 through 9 above, we have assumed the
descriptions of collateral contained in or attached as schedules to, the U.S. Security Agreement,
the U.S. Pledge Agreement and the UCC Financing Statements sufficiently describe (for the purposes
of the attachment and perfection of security interests) the collateral intended to be covered
thereby.

     D. With respect to our opinion set forth in paragraph 8 above, we have relied on the
Designated Company’s Organizational Documents as the basis for determining that (i) the correct
legal name of the U.S. Borrower is Oil States International, Inc; (ii) the correct legal name of
each Designated Subsidiary is as set forth on Schedule V hereto; (iii) the correct organizational
identification number of each Designated Company is as set forth on the Financing Statements; (iv)
each Delaware Corporation and each Delaware Limited Liability Company is solely organized under the
laws of the State of Delaware; and (v) each Texas Corporation is solely organized under the laws of
the State of Texas.

     E. With respect to our opinions set forth in paragraph 9 above, we have assumed that the
certificates evidencing the Certificated Securities will at all times be held by the U.S.
Collateral Agent in the State of New York.

     The opinions set forth above are subject to the following qualifications and exceptions:

     (a) The opinions in paragraphs 1 through 3 above, to the extent they relate to the Delaware
Corporations and Delaware Limited Liability Companies, are limited in all respects to the General
Corporation Law of the State of Delaware (the “Delaware General Corporation Law”), and the
Limited Liability Company Act of the State of Delaware (the “Delaware LLC Act” and,
together with the Delaware General Corporation law, the “Delaware Entity Statutes”). The
opinions in paragraph 1 above to the extent they relate to the existence and good standing of the
Designated Companies in the State of Delaware are based solely on the Good Standing Certificate as
to such Designated Companies, dated on or about December 3, 2010, issued by the Secretary of State
of the State of Delaware. The opinions in paragraph 1 above to the extent they relate to the
existence and good standing of such Designated Companies in the State of Texas are based solely on
the Certificate of Account Status as to such Designated Companies, dated on or about December 2,
2010, issued by the Texas Comptroller of Public Accounts and the Certificate of Fact as to such
Designated Companies, dated December 2, 2010, issued by the Secretary of State of the State of
Texas. Our opinions contained herein to the extent they relate to matters regarding the Delaware
Entity Statutes are based on our review of the Delaware Entity Statutes. We have not reviewed any
other laws of the State of Delaware (other than the Delaware UCC and the Delaware Entity Statutes),
including, without limitation, any interpretations of such statutes, or retained or relied on any
opinion or advice of Delaware counsel.

     (b) The enforceability of each Opinion Document and the provisions thereof may be limited by
bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other laws

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 7

 

now or hereafter in effect relating to or affecting enforcement of creditors’ rights generally
and by general principles of equity (including, without limitation, concepts of materiality,
reasonableness, good faith and fair dealing), regardless of whether such enforcement is considered
in a proceeding in equity or at law.

     (c) With respect to our opinion set forth in paragraph 4, we express no opinion with respect
to the validity or enforceability of the following provisions to the extent that they are contained
in the Opinion Documents: (i) provisions purporting to release, exculpate, hold harmless, or
exempt any person or entity from, or to require indemnification or contribution of or by any person
or entity for, liability for any matter to the extent that the same are inconsistent with
applicable law (including case law) or with public policy; (ii) provisions purporting to waive,
subordinate or not give effect to rights to notice, demands, legal defenses or other rights or
benefits that cannot be waived, subordinated or rendered ineffective under applicable law; (iii)
provisions purporting to provide remedies inconsistent with applicable law; (iv) provisions
purporting to render void and of no effect any transfers of any Designated Company’s and Canadian
Borrower’s rights in any collateral in violation of the terms of the Opinion Documents; (v) other
than with respect to our opinions set forth in paragraphs 7 through 9 above, provisions relating to
the creation, attachment, perfection or enforceability of any security interest; (vi) provisions
relating to powers of attorney, severability or set-offs; (vii) provisions stating that a guarantee
will not be affected by a modification of the obligation guaranteed in cases in which that
modification materially changes the nature or amount of such obligation; (viii) provisions that
limit the obligation of a guarantor, co-borrower or co-obligor (or provide for any rights of
contribution as against another guarantor or co-borrower or co-obligor or any other party) based
upon the potential unenforceability, invalidity, or voidability of a guarantee or joint obligation
under any applicable law, including, without limitation, any state or federal fraudulent transfer
or fraudulent conveyance laws; (ix) provisions restricting access to courts or purporting to affect
the jurisdiction or venue of courts (other than the courts of the State of New York with respect to
Opinion Documents governed by the laws of the State of New York); (x) provisions setting out
methods for service of process; (xi) provisions purporting to exclude all conflicts of law rules;
(xii) provisions pursuant to which a party agrees that a judgment rendered by a court or other
tribunal in one jurisdiction may be enforced in any other jurisdiction; (xiii) provisions providing
that decisions by a party are conclusive or may be made in its sole discretion; (xiv) provisions
providing for liquidated damages or any “make whole”, “yield maintenance”, or “premium amount” to
the extent that they may be deemed a penalty; (xv) provisions that require any Designated Company
to indemnify any other party to such Opinion Document against loss in obtaining the currency due
under such Opinion Document from a court judgment in another currency; or (xvi) provisions
providing for voting of claims in bankruptcy. Additionally, with respect to our opinion set forth
in paragraph 4 above, such opinion is subject to possible judicial action giving effect to
governmental actions or foreign laws affecting creditors’ rights. Our opinions are based solely on
our reading of the Opinion Documents. We note that enforceability of the Opinion Documents may be
affected by the parties course of dealing, or by waivers, modifications or amendments (whether made
in writing, orally, or by course of conduct), and we express no opinion on the effect of the
foregoing on the enforceability of the Opinion Documents.

     (d) Insofar as our opinions set forth in paragraphs 4 and 11 above relate to the
enforceability under New York law of the provisions of the Opinion Documents choosing New

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 8

 

York law as the governing law thereof, such opinion is rendered solely in reliance upon the
Act of July 19, 1984, ch. 421, 1984 McKinney’s Sess. Law of N.Y. 1406 (codified at N.Y. Gen. Oblig.
Law §§5-1401 (McKinney 1989)) (the “Act”) and is subject to the qualifications that such
enforceability (i) as specified in the Act, does not apply to the extent provided to the contrary
in subsection two of Section 1-105 of the NY UCC, (ii) may be limited by public policy
considerations of any jurisdiction in which enforcement of such provisions is sought, and (iii) is
subject to any U.S. Constitutional requirement under the Full Faith and Credit Clause or the Due
Process Clause thereof or the exercise of any applicable judicial discretion in favor of another
jurisdiction.

     (e) Certain of the remedial provisions with respect to the Article 9 Collateral (including
waivers with respect to the exercise of remedies against the collateral) contained in the U.S.
Security Agreement and the U.S. Pledge Agreement may be unenforceable in whole or in part, but the
inclusion of such provisions does not affect the validity of the U.S. Security Agreement and the
U.S. Pledge Agreement, taken as a whole, and the U.S. Security Agreement and the U.S. Pledge
Agreement, taken as a whole, together with applicable law, contains adequate provisions for the
practical realization of the benefits intended to be provided thereby (it being understood that we
express no opinion as to the adequacy of such provisions to the extent it is necessary to seek
execution or enforcement of rights or remedies under the laws of any jurisdiction outside the State
of New York). Additionally, we note that the remedies under the U.S. Security Agreement and U.S.
Pledge Agreement to sell or offer for sale Article 9 Collateral constituting securities are subject
to compliance with applicable state and federal securities laws. We call to your attention that
some of the Pledgors under the U.S. Pledge Agreement are organized in jurisdictions other than
Delaware and Texas (including outside of the United States), and we express no opinion as to the
effect of the laws of such other jurisdictions on the opinions herein stated. Our opinion with
respect to the security interests of the U.S. Collateral Agent in the Certificated Securities is
limited to the NY UCC and the laws of the jurisdiction of an issuer of pledged securities may
affect, among other things, whether the securities are characterized as certificated securities,
the exercise of remedies with respect to such securities and the exercise of voting or other rights
with respect to such securities.

     (f) In the case of property which becomes Article 9 Collateral after the date hereof, our
opinion in paragraph 7 above, as to the creation and validity of the security interests therein
described, is subject to the effect of Section 552 of the Federal Bankruptcy Code, which limits the
extent to which property acquired by a debtor after the commencement of a case under the Federal
Bankruptcy Code may be subject to such security interest arising from a security agreement entered
into by the debtor before the commencement of such case.

     (g) We express no opinion as to Article 9 Collateral that is subject to a state statute or a
statute, regulation or treaty of the United States referred to in Section 9-311(a) of the NY UCC,
Section 9-311(a) of the Delaware UCC or Section 9.311(a) of the Texas UCC.

     (h) With respect to our opinions set forth in paragraphs 7 and 8 above, we express no opinion
as to Article 9 Collateral consisting of commercial tort claims.

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 9

 

     (i) With respect to our opinion in paragraph 8 above, we express no opinion as to the
perfection of a security interest in any items of collateral that are or are to become fixtures, as
extracted collateral or timber to be cut.

     (j) Other than the filing of the UCC Financing Statements in the filing offices set forth in
our opinion in paragraph 8 above, we express no opinion as to any other actions (including any
filings or registrations) that may be necessary under any applicable law in connection with
perfection of a security interest in Article 9 Collateral consisting of patents, trademarks,
copyrights or other intellectual property rights.

     (k) With respect to our opinions set forth in paragraphs 7 through 9, we express no opinion as
to the priority of any security interest.

     (l) We express no opinion herein regarding the enforceability of any provision in an Opinion
Document that purports to prohibit, restrict or condition the assignment of any Designated
Company’s rights or obligations under such Opinion Document to the extent that such restriction on
assignability is governed by Sections 9-406 through 9-409 of the NY UCC.

     (m) With respect to our opinions set forth in paragraphs 7 through 9 above, the attachment and
perfection of the Agent’s security interest in proceeds is limited to the extent set forth in
Section 9-315 of the NY UCC, Section 9-315 of the Delaware UCC or Section 9.315 of the Texas UCC.

     (n) We express no opinion as to any actions that may be required to be taken periodically
under the NY UCC, the Delaware UCC, the Texas UCC or under any other applicable law in order for
the effectiveness of the Financing Statements or perfection of any security interest to be
maintained.

     We express no opinion as to the laws of any jurisdiction other than: (i) the laws of the State
of New York, (ii) the federal laws of the United States of America; (iii) with respect to our
opinions set forth in paragraphs 1, 2, 3 and 5(a), the Delaware Entity Statutes and the laws of the
State of Texas and (iv) as indicated in paragraph 8 above, the Delaware UCC and the Texas UCC. We
note that the Canadian Borrowers are organized and existing under the laws of the Province of
Alberta, Canada. We express no opinion as to (a) the laws of the Province of Alberta or the
federal laws of Canada, or (b) the effect that such laws may have on the opinions rendered herein.

     This opinion has been prepared in accordance with the customary practice of lawyers who
regularly give and lawyers who regularly advise recipients regarding opinions of this kind.

     This opinion letter is rendered as of the date set forth above. We expressly disclaim any
obligation to update this letter after such date.

     This opinion letter is given solely for your benefit and the benefit of the Lenders in
connection with the transactions contemplated by the Opinion Documents and may not be furnished to,
or relied upon by, any other person or for any other purpose without our prior written consent.
Notwithstanding the foregoing, at your request, we hereby consent to reliance hereon by any future
assignee of the Lenders’ interests in the loans under the Agreement

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 10

 

pursuant to an assignment that is made and consented to in accordance with the express
provisions of Section 9.04 of the Agreement, on the condition and understanding that (a) this
letter speaks only as of the date hereof, (b) we have no responsibility or obligation to update
this letter, to consider its applicability or correctness to any person other than its addressees,
or to take into account changes in law, facts or any other developments of which we may later
become aware, and (c) any such reliance by a future assignee must be actual and reasonable under
the circumstances existing at the time of assignment, including any changes in law, facts or any
other developments known to or reasonably knowable by the assignee at such time.

	 	 	 	 	 
	 	Very truly yours,

DRAFT

Vinson & Elkins LLP

 	 

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 11

 

SCHEDULE I TO OPINION LETTER

Addressees

Wells Fargo Bank N.A., as U.S. Administrative Agent and U.S. Collateral Agent

Royal Bank of Canada, as Canadian Administrative Agent and Canadian Collateral Agent

Each Lender party to the Agreement as of the date hereof

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 12

 

SCHEDULE II TO OPINION LETTER

Applicable Contracts

1. Indenture dated as of June 21, 2005 by and between the U.S. Borrower and Wells Fargo Bank,
National Association, as trustee, and the Global Notes representing $175,000,000 aggregate
principal amount of 2 3/8% Contingent Convertible Senior Notes due 2025.

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 13

 

SCHEDULE III TO OPINION LETTER

Organizational Documents

Company Name

Acute Technological Services, Inc.

     a. Certificate of Formation dated as of March 28, 2008

     b. Amended and Restated Bylaws

Capstar Drilling, Inc.

     a. Certificate of Incorporation dated as of April 26, 1966

     b. Certificate of Amendment dated as of December 22, 2009

     c. Bylaws dated as of July 21, 1970

Capstar Drilling GP, L.L.C.

     a. Certificate of Formation dated as of July 26, 2002

     b. Limited Liability Company Agreement dated as of July 26, 2002

Capstar Drilling LP, L.L.C.

     a. Certificate of Formation dated as of July 26, 2002

     b. Limited Liability Company Agreement dated as of July 26, 2002

Capstar Holding, L.L.C.

     a. Certificate of Formation dated as of June 28, 2007

     b. Certificate of Amendment dated December 21, 2009

     c. Limited Liability Company Agreement dated as of June 28, 2007

General Marine Leasing, LLC

     a. Certificate of Formation dated as of December 19, 2002

     b. Limited Liability Company Agreement dated as of December 20, 2002

Oil States Energy Services, Inc.

     a. Certificate of Incorporation dated as of December 19, 2002

     b. Bylaws dated as of December 20, 2002

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 14

 

Oil States Management, Inc.

     a. Certificate of Incorporation dated as of December 19, 2002

     b. Bylaws dated as of December 20, 2002

Oil States Industries, Inc.

     a. Certificate of Incorporation dated as of October 28, 1983

     b. Bylaws

Oil States Skagit SMATCO, LLC

     a. Certificate of Formation dated as of December 21, 2001

     b. Limited Liability Company Agreement dated as of December 21, 2001

PTI Group USA LLC

     a. Certificate of Formation dated as of November 30, 2009

     b. Limited Liability Company Agreement dated as of November 30, 2009

PTI Mars Holdco 1, LLC

     a. Certificate of Formation dated as of October 5, 2010

     b. Limited Liability Company Agreement dated as of October 5, 2010

Sooner Holding Company

     a. Certificate of Incorporation dated as of June 25, 1996

     b. Bylaws dated as of June 26, 1996

Sooner, Inc.

     a. Certificate of Incorporation dated as of June 29, 1998

     b. Bylaws dated as of July 2, 1998

Sooner Pipe, L.L.C.

     a. Certificate of Formation dated as of June 28, 2007

     b. Amended and Restated Limited Liability Company Agreement dated as of August
31, 2010

Specialty Rental Tools & Supply, L.L.C.

     a. Certificate of Formation dated as of June 28, 2007

     b. Limited Liability Company Agreement dated as of June 28, 2007

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 15

 

Stinger Wellhead Protection, Incorporated

     a. Certificate of Incorporation dated as of July 29, 1988

     b. Certificate of Amendment dated as of March 28, 2005

     c. Articles of Incorporation dated as of July 29, 1988

     d. Articles of Amendment to the Articles of Incorporation dated as of May 12, 2005

     e. Bylaws

Well Testing, Inc.

     a. Certificate of Incorporation dated as of June 21, 2007

     b. Bylaws dated as of July 16, 2007

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 16

 

SCHEDULE IV TO OPINION LETTER

Financing Statements

The following financing statements on form UCC-1, naming the Person listed below as debtor and
the Agent as secured party for the benefit of the Lenders, to be filed in the office listed
opposite the name of such debtor:

	 	 	 
	Name of Debtor	 	Filing Office
	Acute Technological Services, Inc.

	 	Texas Secretary of State
	Capstar Drilling, Inc.

	 	Texas Secretary of State
	Capstar Drilling GP, L.L.C.

	 	Delaware Secretary of State
	Capstar Drilling LP, L.L.C.

	 	Delaware Secretary of State
	Capstar Holding, L.L.C.

	 	Delaware Secretary of State
	General Marine Leasing, L.L.C.

	 	Delaware Secretary of State
	Oil States Energy Services, Inc.

	 	Delaware Secretary of State
	Oil States Management, Inc.

	 	Delaware Secretary of State
	Oil States Industries, Inc.

	 	Delaware Secretary of State
	Oil States Skagit SMATCO, LLC

	 	Delaware Secretary of State
	PTI Group USA LLC

	 	Delaware Secretary of State
	PTI Mars Holdco 1, LLC

	 	Delaware Secretary of State
	Sooner Holding Company

	 	Delaware Secretary of State
	Sooner, Inc.

	 	Delaware Secretary of State
	Sooner Pipe, L.L.C.

	 	Delaware Secretary of State
	Specialty Rental Tools & Supply, L.L.C.

	 	Delaware Secretary of State
	Stinger Wellhead Protection, Incorporated

	 	Texas Secretary of State
	Well Testing, Inc.

	 	Delaware Secretary of State

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 17

 

SCHEDULE V TO OPINION LETTER

Designated Subsidiaries

Delaware Corporations (together with the U.S. Borrower, referred to herein as such)

Oil States Energy Services, Inc., a Delaware corporation

Oil States Industries, Inc., a Delaware corporation

Oil States Management, Inc., a Delaware corporation

Sooner, Incorporated, a Delaware corporation

Sooner Holding Company, a Delaware corporation

Well Testing, Inc., a Delaware corporation

Delaware Limited Liability Companies (referred to herein as such)

Capstar Drilling GP, L.L.C., a Delaware limited liability company

Capstar Drilling LP, L.L.C., a Delaware limited liability company

Capstar Holding, L.L.C., a Delaware limited liability company

General Marine Leasing, LLC, a Delaware limited liability company

Oil States Skagit SMATCO, LLC, a Delaware limited liability company

PTI Group USA LLC, a Delaware limited liability company

PTI Mars Holdco 1, LLC, a Delaware limited liability company

Sooner Pipe, L.L.C., a Delaware limited liability company

Specialty Rental Tools & Supply, L.L.C., a Delaware limited liability company

Texas Corporations (referred to herein as such)

Acute Technological Services, Inc., a Texas corporation

Capstar Drilling, Inc., a Texas corporation

Stinger Wellhead Protection, Incorporated, a Texas corporation

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 18

 

SCHEDULE VI TO OPINION LETTER

Applicable Orders

None.

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 19

 

SCHEDULE VII TO OPINION LETTER

Certificated Securities

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Owner	 	Issuer	 	Percentage Owned	 	 	Percentage Pledged	 	 	No. of Shares/Units	 	 	Certificate No.	 
	Oil States
	 	General Marine	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	001	 
	International, Inc.
	 	Leasing, LLC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Oil States	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	International, Inc.
	 	Management, Inc.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Oil States	 	 	100	%	 	 	100	%	 	 	100	 	 	 	8	 
	International, Inc.
	 	Industries, Inc.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Oil States Energy	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	International, Inc.
	 	Services, Inc.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	PTI Group USA	 	 	100	%	 	 	100	%	 	 	100 Units	 	 	 	1	 
	International, Inc.
	 	LLC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Sooner Inc.	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	1	 
	International, Inc.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Oil States Skagit	 	 	100	%	 	 	100	%	 	 	500	 	 	 	002	 
	Industries, Inc.
	 	SMATCO, LLC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States
	 	Oil States	 	 	100	%	 	 	65	%	 	 	650,000	 	 	 	7	 
	Industries, Inc.
	 	Industries (UK)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Limited	 	 	 	 	 	 	 	 	 	 	65,000	 	 	 	10	 
	Oil States
	 	Oil States	 	 	100	%	 	 	65	%	 	 	65	 	 	 	8	 
	Industries, Inc.
	 	Industries (Asia)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	PTE LTD	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States Skagit
	 	Oil States	 	 	96	%	 	 	65	%	 	 	1,400	 	 	 	28	 
	SMATCO, LLC
	 	Industries	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	(Thailand) Ltd.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	65,800	 	 	 	21	 
	Oil States Energy
	 	Capstar Drilling	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	2	 
	Services, Inc.
	 	LP, L.L.C.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States Energy
	 	Capstar Drilling	 	 	100	%	 	 	100	%	 	 	n/a	 	 	 	001	 
	Services, Inc.
	 	GP, L.L.C.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

Exhibit H-1 — Form of Opinion of Vinson & Elkins L.L.P.

Page 20

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Owner	 	Issuer	 	Percentage Owned	 	 	Percentage Pledged	 	 	No. of Shares/Units	 	 	Certificate No.	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead	 	 	100	%	 	 	65	%	 	 	650	 	 	 	2AC	 
	 
	 	Protection (Canada)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Incorporated	 	 	 	 	 	 	 	 	 	 	172	 	 	 	2BC	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States Energy Services, Inc.
	 	Well Testing, Inc.	 	 	100	%	 	 	100	%	 	 	400	 	 	 	1	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead	 	 	100	%	 	 	65	%	 	 	3,000	 	 	 	8	 
	 
	 	International, Inc.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oil States Energy Services, Inc.
	 	Stinger Wellhead	 	 	100	%	 	 	100	%	 	 	120	 	 	 	7	 
	 
	 	Protection,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Incorporated	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Capstar Drilling LP, L.L.C.
	 	Capstar Holding, L.L.C.	 	 	99.99	%	 	 	100	%	 	 	n/a	 	 	 	3	 
	Capstar Drilling LP, L.L.C.
	 	Specialty Rental	 	 	99.99	%	 	 	100	%	 	 	n/a	 	 	 	001	 
	 
	 	Tools & Supply, L.L.C.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Capstar
Drilling GP, L.L.C.
	 	Capstar Holding, L.L.C.	 	 	.01	%	 	 	100	%	 	 	n/a	 	 	 	4	 
	Capstar
Drilling GP, L.L.C.
	 	Specialty Rental	 	 	.01	%	 	 	100	%	 	 	n/a	 	 	 	002	 
	 
	 	Tools & Supply, L.L.C.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Capstar
Holding, L.L.C.
	 	Capstar Drilling, Inc.	 	 	100	%	 	 	100	%	 	 	27,882	 	 	 	26	 
	PTI Mars
Holdco 1, LLC
	 	3045843 Nova Scotia Company	 	 	100	%	 	 	65	%	 	 	1	 	 	 	2R	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	1	 	 	 	3	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	1	 	 	 	4	 
	Sooner Inc.
	 	Sooner Pipe, L.L.C.	 	 	100	%	 	 	100	%	 	 	100	 	 	 	3	 
	Sooner Pipe, L.L.C.
	 	Sooner Holding Company	 	 	100	%	 	 	100	%	 	 	500	 	 	 	4	 

Exhibit H-1
— Form of Opinion of Vinson & Elkins L.L.P.

Page 21

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Owner	 	Issuer	 	Percentage Owned	 	 	Percentage Pledged	 	 	No. of Shares/Units	 	 	Certificate No.	 
	Sooner Pipe, L.L.C.
	 	A-Z Terminal	 	 	100	%	 	 	100	%	 	 	1,000	 	 	 	5	 
	 
	 	Corporation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

Exhibit H-1 — Form of Opinion of Vinson & Elkins L.L.P.

Page 22

 

EXHIBIT H-2

[Form of]

OPINION OF FRASER MILNER CASGRAIN LLP

December 10, 2010

Wells Fargo Bank, N.A.

as U.S. Administrative Agent

1000 Louisiana Street

Houston, Texas 77002

Royal Bank of Canada

as Canadian Administrative Agent

200 Bay Street, 12th Floor

P.O. Box 50

Toronto, Ontario M5J 2W7

Each of the Canadian Lenders listed on Annex I hereto and each other person that becomes party to
the Credit Agreement referenced below as a Canadian Lender

Re:  PTI Group Inc. and PTI Premium Camp Services Ltd. and certain of their
Subsidiaries

Ladies and Gentlemen:

     We have acted as counsel to PTI Group Inc. (the “Canadian Parent”) and PTI Premium
Camp Services Ltd. (“PTI Premium”), each a corporation amalgamated under the laws of the
Province of Alberta (the “Canadian Borrowers”), and each of the persons listed on Annex II
hereto (such persons, together with the Canadian Borrowers, collectively being the “Canadian
Obligors”), in connection with that certain Amended and Restated Credit Agreement (the
“Credit Agreement”) dated as of December 10, 2010, among Oil States International, Inc.
(the “U.S. Borrower”), the Canadian Borrowers, the lenders signatory thereto (the
“Lenders”), Wells Fargo Bank, N.A., as U.S. Administrative Agent for the Lenders, Royal
Bank of Canada, as Canadian Administrative Agent and Canadian Collateral Agent for the Canadian
Lenders (the “Canadian Collateral Agent”), and JPMorgan Chase, N.A., as Syndication Agent
for the Lenders, and The Toronto-Dominion Bank and The Bank of Nova Scotia, as Co-Documentation
Agents for the Lenders. This opinion is being furnished to you pursuant to Section 4.02(a)(iii)(2)
of the Credit Agreement. Each capitalized term not defined herein or in Annex I, Annex II or Annex
III hereto shall have the meaning ascribed such term in the Credit Agreement.

I — OPINION

     In our capacity as counsel, we have examined copies of the Credit Agreement and the documents
listed on Annex III hereto (such documents collectively being the “Loan Documents”). Based
upon that examination, on the post-registration search results applicable to the amendments to the
security registrations described in Annex IV hereto and on such investigation of the laws of the
Province of Alberta as we have deemed necessary, and subject to the exceptions, limitations,
qualifications and assumptions herein contained, we are of the opinion that:

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 1

 

 

1. Each Canadian Obligor is a corporation amalgamated or incorporated, validly existing and in good
standing under the laws of the Province of Alberta. The Canadian Obligors have the requisite
corporate power and authority to execute, deliver and perform their respective obligations under
the Loan Documents to which each is a party and each Canadian Borrower has the requisite power and
authority to borrow Canadian Loans under the Credit Agreement. Each of the Loan Documents to which
any Canadian Obligor is a party has been duly authorized, executed and delivered by such person,
respectively.

2. Each of the Canadian Obligors has taken all necessary corporate action to authorize the
execution and delivery of, and the performance of its obligations under, each of the Loan Documents
to which it is a party. The execution, delivery and performance by each Canadian Obligor of its
obligations under the Loan Documents to which it is a party will not result in a violation of such
person’s respective Certificates or Articles of Amalgamation or Incorporation or By-laws, as
applicable. The execution, delivery and performance by each Canadian Obligor of its obligations
under the Loan Documents to which it is a party will not (i) result in a violation of any laws of
the Province of Alberta, (ii) to our knowledge, result in a violation of or constitute a breach or
default under any material agreement, instrument or judicial or regulatory order binding upon it or
its properties, or (iii) to our knowledge, result in the creation or imposition of any Lien or any
of its properties pursuant to any such material agreement, instrument or judicial or regulatory
order.

3. Each of the Loan Documents to which each Canadian Obligor is a party constitutes the legal,
valid and binding obligation of such person party thereto, enforceable against such person in
accordance with its terms to the extent that the laws of the Province of Alberta are applicable.

4. Except for the filings described in paragraph I(8) below, no authorization, consent, approval,
license or exemption of, or filing or registration with, any Governmental Authority of Canada or
the Province of Alberta is necessary for either the due execution and delivery by any Canadian
Obligor of the Loan Documents to which it is a party or the repayment by the Canadian Borrowers of
the Canadian Loans.

5. Except as disclosed pursuant to the Credit Agreement, there are, to our knowledge, no actions,
suits or proceedings pending or threatened against any Canadian Obligor which involves the
possibility of any judgment or liability against such Canadian Obligor which could reasonably be
expected to have a Material Adverse Effect.

6. Each of the Amended and Restated Canadian Security Agreement (the “Canadian Security
Agreement”) and the Amended and Restated Canadian Pledge Agreement (the “Canadian Pledge
Agreement”) creates in favour of the Canadian Collateral Agent a security interest in the
collateral described therein in which a security interest may be created under the Personal
Property Security Act (Alberta) (the “PPSA”) as security for the obligations described
therein.

7. Assuming delivery in Ontario to, and continued possession in Ontario by, the Canadian Collateral
Agent of all share certificates for the securities listed on Schedule II to the Canadian Pledge
Agreement, together with the Stock Powers therefor with respect to the pledged shares identified as
such in the Canadian Pledge Agreement (the “Pledged Shares”), the execution and delivery of
the Canadian Pledge Agreement and the Stock Powers with the share certificates attached perfects
the security interest created in the Pledged Shares as security for the obligations described
therein. All necessary corporate action has been taken by the Canadian Borrowers and each of the
Canadian Subsidiaries to authorize

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 2

 

 

the transfer of the Pledged Shares contemplated by the Canadian Pledge Agreement including any
subsequent transfer of the Pledged Shares by the Canadian Collateral Agent upon enforcement of the
Canadian Pledge Agreement. PTI Holdco Sub is the registered owner of all the issued and
outstanding shares in the capital of the Canadian Parent. The Canadian Parent is the registered
owner of all the issued and outstanding shares in the capital of each of PTI Premium, Crown Camp
Services Ltd., PTI Camp Installations Ltd., PTI International Ltd., PTI Travco Modular Structures
Ltd., PTI International Inc., PTI Noble Structures Inc., Norwel Developments Limited, PTI Atlantic
Ltd. and Ek’Ati Services Ltd. PTI Premium is the registered owner of all of the issued and
outstanding shares in the capital of Christina Lake Enterprises Ltd.

8. Registrations have been made by us in all public offices provided for under the laws of the
Province of Alberta where such registrations are necessary to preserve, perfect or protect the
security interest (the “Security Interest”) created by each of the Canadian Security
Agreement and the Canadian Pledge Agreement (the “Canadian Security Agreements”) in favour
of the Canadian Collateral Agent in the collateral described therein (the “Collateral”).
The particulars of such registrations are listed in Annex IV hereto.

9. A court of competent jurisdiction in the Province of Alberta, if properly presented with a
choice of law issue, will honor the choice of New York law to govern the Credit Agreement.

10. A court of competent jurisdiction in the Province of Alberta would uphold the choice of the
laws of the State of New York as the proper law governing the Credit Agreement provided that such
choice of law is:

     a) bona fide (in the sense that it was not made with a view to avoiding the consequences of
the laws of any other jurisdiction); and

     b) not contrary to public policy, as that term is understood under the laws of the Province of
Alberta.

As at the date hereof, we are not aware of any reason why the choice of the laws of the State of
New York would be found not to be bona fide or to be contrary to public policy under the laws of
the Province of Alberta.

11. In an action brought before a court of competent jurisdiction in the Province of Alberta with
regard to the Credit Agreement, the laws of the State of New York would, subject to the foregoing,
to the extent specifically pleaded and proved as a fact by expert evidence, be recognized and
applied by such court to all issues which, under conflict of laws rules in effect in the Province
of Alberta, are to be determined in accordance with the proper or governing law of the contract,
provided however, that a court in the Province of Alberta:

     a) would not enforce provisions of the Credit Agreement or the applicable provisions of the
laws of the State of New York which such court would characterize as procedural, penal, revenue, or
expropriatory in nature or as contrary to public policy;

     b) would retain discretion to decline to hear such action if it is contrary to public policy
for such court to do so, or if such court is not the proper forum to hear such action, or if
concurrent proceedings are being brought elsewhere; and

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 3

 

 

     c) may not enforce an obligation enforceable under the laws of the State of New York where
performance of the obligation would be illegal by the law of the place of performance.

12. The laws of the Province of Alberta would permit an action to be brought in a court of
competent jurisdiction in the Province of Alberta on any final, conclusive, subsisting and
unsatisfied judgment in personam of the foreign jurisdiction, which is not impeachable as void or
voidable under the internal laws of that foreign jurisdiction, for a sum certain if:

     a) the court rendering that judgment had jurisdiction over the judgment debtor and such court
acted within its jurisdiction, as recognized by the courts of the Province of Alberta;

     b) that judgment was not obtained by fraud or in a manner contrary to natural justice and the
enforcement thereof would not be inconsistent with public policy as such term is understood under
the laws of the Province of Alberta and is not contrary to any order made under the Foreign
Extraterritorial Measures Act (Canada);

     c) the granting of that judgment was not contrary to an agreement between the parties under
which the dispute in question was to be settled otherwise than by proceedings in the court
rendering that judgment;

     d) the enforcement of that judgment does not constitute, directly or indirectly, the
enforcement of foreign revenue, expropriatory or penal laws;

     e) no new admissible evidence relevant to the action is discovered prior to the rendering of
the judgment by the courts in the Province of Alberta;

     f) no manifest error occurred in the granting of that judgment, in the case where that
judgment was obtained by default;

     g) the defendant had attorned to the jurisdiction, and was duly served with the process, of
the court rendering that judgment, or appeared; and

     h) there has been compliance with the applicable limitation of actions legislation
in the Province of Alberta.

II — QUALIFICATIONS

     The foregoing opinions are subject to the following exceptions, limitations, qualifications
and assumptions:

1. We have assumed that:

     a) the Pledged Shares evidenced by the applicable share certificates will be delivered to the
Canadian Collateral Agent, on behalf of the Canadian Lenders, in Ontario and will henceforth remain
in the continuous possession of the Canadian Collateral Agent, on behalf of the Canadian Lenders,
in Ontario; and

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 4

 

 

     b) the Canadian Collateral Agent, in connection with the Canadian Pledge Agreement, has had no
notice of an adverse claim within the meaning of Section 1(1)(a) of the Securities Transfer Act
(Alberta).

2. Under the present laws of the Province of Alberta, the validity, perfection and effect of
perfection or non-perfection of a security interest in an investment property in the form of a
certificated security is governed by the laws of the jurisdiction where the share certificate is
located at the time the security interest attaches and, as a result, if the Pledged Shares are
located in Ontario at the time that the Security Interest created by the Canadian Pledge Agreement
attaches, then the laws of the Province of Ontario (not the laws of the Province of Alberta) will
govern the validity, perfection and effect of perfection or non-perfection of such Security
Interest.

3. To the extent that the Collateral is comprised of motor vehicles, trailers, mobile homes, boats,
outboard motors or aircraft, the Security Interest in that type of personal property can be more
effectively perfected if the Canadian Security Agreement and the filings described in paragraph
I(8) above set out the serial numbers of such personal property. Further, to the extent that the
Collateral is comprised of trademarks, patents, copyrights, industrial designs or other
intellectual property, the Security Interest in that type of personal property can be more
effectively perfected if the Canadian Security Agreement is registered under the appropriate
federal laws of the Canada.

4. Our opinion expressed in paragraph I(1) above as to the validity and subsistence of the Canadian
Obligors is based solely on our review of the certificates of status dated December 6, 2010 issued
by the Registrar of Corporations (Alberta).

5. Our opinions set forth above are limited to the laws of the Province of Alberta and the laws of
Canada applicable therein and we express no opinion as to the laws of any other jurisdiction.

6. The validity or enforceability of the Loan Documents to which any of the Canadian Obligors is a
party may be subject to or affected or limited by:

     a) the interests of those persons described in section 20 of the PPSA except to the extent
that the Security Interest was perfected at the time that those persons’ interests arose;

     b) the duty of the Canadian Collateral Agent to exercise remedies on default in good faith and
in a commercially reasonable manner;

     c) terms of the Canadian Security Documents which purport to limit liability for failure to
discharge duties imposed by the PPSA, which terms may be void;

     d) the possibility that the PPSA may affect the enforcement of certain remedies contained in
the Canadian Security Documents to the extent that such remedies are inconsistent or contrary to
the PPSA provided that, in our opinion, the provisions of the PPSA will not make the remedies
provided under the Canadian Security Documents inadequate for the practical realization in the
Province of Alberta of the benefit of the security constituted thereby in accordance with
applicable law;

     e) applicable bankruptcy, insolvency, fraudulent preference and conveyance, reorganization,
moratorium, liquidation, public policy or other laws generally affecting the enforceability of the
rights of creditors. In particular, but without limiting the generality of the foregoing, we
express no opinion on the enforceability of the provisions of Section 7.16 of the Canadian Security
Agreement,

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 5

 

 

Section 23 of the Amended and Restated Canadian Subsidiary Guarantee Agreement or Section 21
of the Amended and Restated PTI Holdco Sub Guarantee Agreement;

     f) general principles of equity and equitable remedies which are only available in the
discretion of the courts;

     g) the rights and privileges of the Crown and its agents; and

     h) applicable laws regarding limitations of actions.

7. No opinion is expressed as to the validity or enforceability of the Security Interest in any
portion of the Collateral:

     a) to which the PPSA does not apply;

     b) which is not identifiable or traceable; or

     c) which constitutes proceeds of the Collateral and which is not identifiable or traceable.

8. No opinion is expressed as to the priority of the Canadian Security Documents or the Security
Interest or any other mortgage, charge, assignment, security interest or other right or claim of
the Canadian Collateral Agent in or to the Collateral.

9. The Security Interest in proceeds must be perfected by registration or possession within 15 days
after the Security Interest in the original Collateral attaches to those proceeds unless:

     a) the proceeds consist of money, cheques or deposit accounts; or

     b) the proceeds are of a kind that are within the description of the original Collateral or
are sufficiently described in the financing statements (the “Financing Statements”)
evidencing the filings described in paragraph I(8) above under the PPSA.

10. No opinion is expressed as to the title of the Canadian Obligors to the Collateral and, as a
result, no opinion is expressed as to the effectiveness of the Security Interest in the Collateral
where effectiveness depends on the title of the Collateral and, without restricting the generality
of the foregoing, the Security Interest in property, assets or rights not yet acquired by the
Canadian Obligors may not be effective until that property, assets or rights have been acquired by
the Canadian Obligors.

11. The continuing effectiveness of the registrations of the Financing Statements is subject to the
following:

     a) the registrations described in the Financing Statements are valid for finite time periods
and must be renewed by the registration of financing change statements under the PPSA prior to the
expiry dates applicable to such registrations (with the exception of the land charges which are
valid for infinity and need not be renewed); and

     b) if the Canadian Collateral Agent discovers that any Canadian Obligor has changed or is
about to change its name or that any Canadian Obligor has transferred or is about to transfer any
portion of its interest in the Collateral to a third party, then the Canadian Collateral Agent must
file a

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 6

 

 

financing change statement under the PPSA within 15 days after discovering that the change or
the transfer has or is about to occur in order to protect the Security Interest;

and we take no responsibility for the registration of the financing change statements in the
circumstances described above.

12. No opinion is expressed as to the enforceability of the provisions of the Loan Documents to
which any Canadian Obligor is a party which do any of the following:

     a) restrict access to legal or equitable remedies or defences;

     b) purport to establish evidentiary standards;

     c) purport to waive or affect any rights to notices;

     d) provide for non-judicial foreclosure or self-help remedies;

     e) relate to delay or omission of enforcement of remedies; or

     f) relate to time periods for complying with demands or determinations made by the Canadian
Collateral Agent or other parties in the exercise of a discretion purported to be given by them if
made in an unreasonable or arbitrary fashion.

13. In giving our opinions set forth herein we have assumed (a) the legal capacity of all natural
persons, (b) the genuineness of all signatures of the persons signing each of the Loan Documents on
behalf of the parties thereto, (c) the validity, binding effect and enforceability of each of the
Loan Documents against each of the parties thereto (other than the Canadian Obligors), (d) the
conformity to original authentic documents of all documents submitted to us as copies and the
authenticity of the originals of such documents, (e) that each party to the Loan Documents (other
than the Canadian Obligors) (i) is duly organized, validly existing and in good standing under the
laws of its jurisdiction of organization, (ii) has full power, authority, and legal right to
execute, deliver, and perform its obligations under the Loan Documents to which it is a party,
(iii) has duly authorized by all requisite action its execution, delivery, and performance thereof,
and (iv) has duly executed and delivered such documents by its duly authorized officers, (f) that
the Security Interest in the Pledged Shares has been validly perfected in accordance with the laws
of the jurisdiction in which the certificates were situated at the time the Security Interest
attached to the Pledged Shares, and (g) that the corporate minute books of the Canadian Obligors
which we have examined contain complete and accurate copies of the resolutions of the directors and
shareholders of the Canadian Obligors. As to questions of fact material to such opinions we have,
to the extent we deemed appropriate, relied upon the representations set forth in the Loan
Documents (other than statements, directly or in effect, of any legal conclusion expressed herein)
and upon an officer’s certificate of the Canadian Obligors, dated the date hereof.

14. The opinions expressed herein are as of the date hereof, and we make no undertaking to
supplement such opinions as facts and circumstances come to our attention (including, without
limitation, amendments to any of the Loan Documents) or changes in the law occur which could affect
such opinions.

15. When used herein, the phrases “to our knowledge” and “of which we are aware” mean or refer to
the actual knowledge of the matters herein referred to on the part of those lawyers presently with

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 7

 

 

our firm who have given substantive attention to the transactions described in this opinion and
such phrases do not include constructive knowledge or knowledge imputed to this firm under common
law principles of agency or otherwise.

16. The opinions rendered herein are for the sole benefit of, and may only be relied upon by, the
Agents and the Canadian Lenders and their successors and assigns in accordance with the Credit
Agreement and the opinions herein expressed are not to be used, circulated or otherwise referred to
in connection with any transaction other than those contemplated by the Loan Documents. We have
not been asked to, and we do not, render any opinion as to any matter except as specifically set
forth herein.

Yours truly,

FRASER MILNER CASGRAIN LLP

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 8

 

 

Annex I

Canadian Lenders

	1.	 	Wells Fargo Financial Corporation
	 
	2.	 	Royal Bank of Canada
	 
	3.	 	JPMorgan Chase Bank, N.A.
	 
	4.	 	The Toronto-Dominion Bank
	 
	5.	 	The Bank of Nova Scotia
	 
	6.	 	DNB NOR Bank ASA
	 
	7.	 	Bank of America, N.A.
	 
	8.	 	HSBC Bank USA, N.A.
	 
	9.	 	Credit Suisse First Boston
	 
	10.	 	Sumitomo Mitsui Banking Corporation
	 
	11.	 	Natixis, New York Branch
	 
	12.	 	U.S. Bank National Association
	 
	13.	 	Barclays Bank plc
	 
	14.	 	Comerica Bank
	 
	15.	 	National Australia Bank Limited
	 
	16.	 	The Bank of Tokyo-Mitsubishi UFJ, Ltd.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 9

 

 

Annex II

Canadian Obligors

	1.	 	PTI Group Inc.
	 
	2.	 	PTI Premium Camp Services Ltd.
	 
	3.	 	Crown Camp Services Ltd.
	 
	4.	 	PTI Camp Installations Ltd.
	 
	5.	 	PTI International Ltd.
	 
	6.	 	PTI Travco Modular Structures Ltd.
	 
	7.	 	892493 Alberta Inc.
	 
	8.	 	PTI International Inc.
	 
	9.	 	Stinger Wellhead Protection (Canada) Incorporated
	 
	10.	 	PTI Noble Structures Inc.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 10

 

 

Annex III

Loan Documents

	1.	 	Credit Agreement;
	 
	2.	 	Canadian Subsidiary Guarantee Agreement;
	 
	3.	 	PTI Holdco Sub Guarantee Agreement;
	 
	4.	 	Canadian Security Agreement;
	 
	5.	 	Canadian Pledge Agreement; and
	 
	6.	 	Stock Powers with share certificates attached described in and delivered pursuant to the
Canadian Pledge Agreement (the “Stock Powers”).

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 11

 

 

Annex IV

Particulars of Security Registrations

1. Personal Property Registry (Alberta)

     (a) A financing statement was registered against PTI Group Inc., as debtor, at the Personal
Property Registry (Alberta) on June 18, 2009 as registration number 09061819535 claiming a security
interest in all present and after-acquired personal property of the debtor, as amended by the
financing change statement registered on December 6, 2010 as registration number 10120603840.

     (b) A financing statement was registered against PTI Premium Camp Services Ltd., as debtor, at
the Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819517
claiming a security interest in all present and after-acquired personal property of the debtor, as
amended by the financing change statement registered on December 6, 2010 as registration number
10120605311.

     (c) A financing statement was registered against PTI Travco Modular Structures Ltd., as
debtor, at the Personal Property Registry (Alberta) on June 18, 2009 as registration number
09061819477 claiming a security interest in all present and after-acquired personal property of the
debtor, as amended by the financing change statement registered on December 6, 2010 as registration
number 10120605187.

     (d) A financing statement was registered against PTI Camp Installations Ltd., as debtor, at
the Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819424
claiming a security interest in all present and after-acquired personal property of the debtor, as
amended by the financing change statement registered on December 6, 2010 as registration number
10120605308.

     (e) A financing statement was registered against Crown Camp Services Ltd., as debtor, at the
Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819611 claiming a
security interest in all present and after-acquired personal property of the debtor, as amended by
the financing change statement registered on December 6, 2010 as registration number 10120605244.

     (f) A financing statement was registered against PTI International Inc., as debtor, at the
Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819241 claiming a
security interest in all present and after-acquired personal property of the debtor, as amended by
the financing change statement registered on December 6, 2010 as registration number 10120605287.

     (g) A financing statement was registered against PTI International Ltd., as debtor, at the
Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819365 claiming a
security interest in all present and after-acquired personal property of the debtor, as amended by
the financing change statement registered on December 6, 2010 as registration number 10120605256.

     (h) A financing statement was registered against Stinger Wellhead Protection (Canada)
Incorporated, as debtor, at the Personal Property Registry (Alberta) on February 28, 2006 as
registration number 06022830753 claiming a security interest in all present and after-acquired
personal property of the debtor, as amended by the financing change statement registered on
December 6, 2010 as registration number 10120605356.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 12

 

 

     (i) A financing statement was registered against Stinger Wellhead Protection (Canada)
Incorporated, as debtor, at the Personal Property Registry (Alberta) on June 18, 2009 as
registration number 09061819498 claiming a security interest in all present and after-acquired
personal property of the debtor, as amended by the financing change statement registered on
December 6, 2010 as registration number 10120605408.

     (j) A financing statement was registered against 892493 Alberta Inc., as debtor, at the
Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819286 claiming a
security interest in all present and after-acquired personal property of the debtor, as amended by
the financing change statement registered on December 6, 2010 as registration number 10120605332.

     (k) A financing statement was registered against PTI Noble Structures Inc., as debtor, at the
Personal Property Registry (Alberta) on June 18, 2009 as registration number 09061819442 claiming a
security interest in all present and after-acquired personal property of the debtor, as amended by
the financing change statement registered on December 6, 2010 as registration number 10120605420.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 13

 

 

Annex V

Permitted Liens

See summary of personal property searches attached as Appendix 1 hereto.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 14

 

 

Appendix 1

to Annex V to Fraser Milner Casgrain LLP Opinion

SUMMARY OF PERSONAL PROPERTY SEARCH RESULTS

PTI GROUP INC.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by Koch Ford Lincoln Sales (2003) Ltd. as registration number
07072733616. This registration expires July 27, 2011.

Security agreement registered by The Bank of Nova Scotia as registration number 09061819535. This
registration expires June 18, 2019.

Security agreement registered by Coast Wholesale Appliances LP as registration number 09072019646.
This registration expires July 20, 2014.

Security agreement registered by Sysco Montana, Inc. as registration number 10082310626. This
registration expires August 23, 2015.

Garage keepers’ lien registered by Brandt Tractor Ltd. as registration number 10101410399. This
registration expires April 14, 2011.

Garage keepers’ lien registered by Kal Tire A Corporate Partnership as registration number
10102019053. This registration expires April 20, 2011.

Security agreement registered by Northgate Industries Ltd. as registration number 10110234796.
This registration expires November 2, 2011.

Garage keepers’ lien registered by Kal Tire — Leduc (650) as registration number 10112517771.
This registration expires May 25, 2011.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032519F. This
registration expires June 18, 2019.

Repairers lien registered by Kal Tire A Corporate Partnership as registration number 764150F. This
registration expires March 14, 2011.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 15

 

 

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910378308. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445259. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78618. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 29, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 16

 

 

PTI TRAVCO MODULAR STRUCTURES LTD.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819477. This
registration expires June 18, 2019.

Land charge registered by The Bank of Nova Scotia as registration number 03110403882. This
registration does not expire.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032511F. This
registration expires June 18, 2019.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910376402. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 20090618 1414 1862
9448. This registration expires June 18, 2019.

Personal Property Registry — Newfoundland (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445240. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78592. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 706176. This
registration expires June 19, 2019.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 17

 

 

CROWN CAMP SERVICES LTD.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819611. This
registration expires June 18, 2019.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032523F. This
registration expires June 18, 2019.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910378502. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445268. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective December 1, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78626. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 30, 2010)

None.

Personal Property Registry — Nunavut (Effective November 30, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 18

 

 

PTI INTERNATIONAL LTD.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819365. This
registration expires June 18, 2019.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032503F. This
registration expires June 18, 2019.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910375600. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445188. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78576. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 29, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 19

 

 

PTI INTERNATIONAL INC.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819241. This
registration expires June 18, 2019.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032500F. This
registration expires June 18, 2019.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910374701. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445151. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78543. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 29, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 20

 

 

PTI CAMP INSTALLATIONS LTD.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by Buckwold Western Ltd. as registration number 09010518184. This
registration expires January 5, 2012.

Security agreement registered by The Bank of Nova Scotia as registration number 09061819424. This
registration expires June 18, 2019.

Garage keepers’ lien registered by Bobcat of Fort McMurray as registration number 10092333774.
This registration expires March 23, 2011.

Garage keepers’ lien registered by Bobcat of Fort McMurray as registration number 1010289962. This
registration expires April 28, 2011.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032504F. This
registration expires June 18, 2019.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 200910376100. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445160. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78584. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 29, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 21

 

 

PTI PREMIUM CAMP SERVICES LTD.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819517. This
registration expires June 18, 2019.

Land charge registered by The Bank of Nova Scotia as registration number 03110403940. This
registration does not expire.

Security agreement registered by Sissons Enterprises Corp. as registration number 08121729992.
This registration expires December 17, 2018.

Security agreement registered by Lions Gate Trailers Ltd. as registration number 09050514986. This
registration expires May 5, 2012.

Security agreement registered by Black Diamond LP as registration number 10080429513. This
registration expires August 4, 2011.

Security agreement registered by Atco Structures & Logistics Ltd. as registration number
10081129017. This registration expires August 11, 2011.

Security agreement registered by Black Diamond LP as registration number 10081932333. This
registration expires August 19, 2011.

Security agreement registered by Sysco Montana, Inc. as registration number 10082310626. This
registration expires August 23, 2015.

Security agreement registered by Lions Gate Trailers Ltd. as registration number 10091033073. This
registration expires September 10, 2013.

Security agreement registered by Alta-Fab Structures Ltd. as registration number 10093024379. This
registration expires September 23, 2011.

Security agreement registered by Alta-Fab Structures Ltd. as registration number 10101336058. This
registration expires October 13, 2011.

Security agreement registered by Alta-Fab Structures Ltd. as registration number 10101336066. This
registration expires October 13, 2011.

Security agreement registered by Alta-Fab Structures Ltd. as registration number 10101407171. This
registration expires October 14, 2011.

Personal Property Registry — British Columbia (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 032513F. This
registration expires June 18, 2019.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 22

 

 

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

Land charge registered by The Bank of Nova Scotia as registration number 120179294. This
registration does not expire.

Security agreement registered by The Bank of Nova Scotia as registration number 300472953. This
registration expires June 22, 2019.

Personal Property Registry — Manitoba (Effective November 29, 2010)

Security Agreement registered by The Bank of Nova Scotia as registration number 200322894600. This
registration does not expire.

Security agreement registered by The Bank of Nova Scotia as registration number 200910377808. This
registration expires June 18, 2019.

Personal Property Registry — Ontario (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 20090618 1414 1862
9447. This registration expires June 18, 2019.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445133. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78600. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 706184. This
registration expires June 19, 2019.

Personal Property Registry — Nunavut (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 140905. This
registration expires June 22, 2019.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 23

 

 

892493 ALBERTA INC.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819286. This
registration expires June 18, 2019.

Personal Property Registry — British Columbia (Effective November 29, 2010)

None.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

None.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 7445204. This
registration expires June 19, 2019.

Personal Property Registry — Yukon Territory (Effective November 30, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 78550. This
registration expires June 18, 2019.

Personal Property Registry — Northwest Territories (Effective November 29, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 24

 

 

STINGER WELLHEAD PROTECTION (CANADA) INCORPORATED

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 06022830753. This
registration expires February 28, 2011.

Land charge registered by The Bank of Nova Scotia as registration number 06022830787. This
registration does not expire.

Security agreement registered by The Bank of Nova Scotia as registration number 09061819498. This
registration expires June 18, 2019.

Security agreement registered by IOS Financial Services as registration number 08120920143. This
registration expires December 9, 2014.

Garage keepers’ lien registered by Kal Tire A Corporate Partnership as registration number
10092828432. This registration expires March 28, 2011.

Garage keepers’ lien registered by Kal Tire A Corporate Partnership as registration number
10102626633. This registration expires April 26, 2011.

Personal Property Registry — British Columbia (Effective November 29, 2010)

None.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

Writ of execution provincial or creditors’ relief certificate registered by Saskatchewan Finance —
Revenue Division as registration number 300516012. This registration expires October 18, 2019.

Personal Property Registry — Manitoba (Effective November 29, 2010)

None.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

None.

Personal Property Registry — Yukon Territory (Effective November 30, 2010)

None.

Personal Property Registry — Northwest Territories (Effective November 30, 2010)

None.

Personal Property Registry — Nunavut (Effective November 29, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 25

 

 

PTI NOBLE STRUCTURES INC.

Personal Property Registry — Alberta (Effective November 29, 2010)

Security agreement registered by The Bank of Nova Scotia as registration number 09061819442. This
registration expires June 18, 2019.

Security agreement registered by Buckwold Western Ltd. as registration number 05072620684. This
registration expires July 26, 2011.

Personal Property Registry — British Columbia (Effective November 29, 2010)

None.

Personal Property Registry — Saskatchewan (Effective November 29, 2010)

None.

Personal Property Registry — Manitoba (Effective November 29, 2010)

None.

Personal Property Registry — Ontario (Effective November 29, 2010)

None.

Personal Property Registry — Newfoundland (Effective November 29, 2010)

None.

Personal Property Registry — Yukon Territory (Effective November 30, 2010)

None.

Personal Property Registry — Northwest Territories (Effective November 30, 2010)

None.

Personal Property Registry — Nunavut (Effective November 30, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 26

 

 

CHRISTINA LAKE ENTERPRISES LTD.

Personal Property Registry — Alberta (Effective December 1, 2010)

None.

Personal Property Registry — British Columbia (Effective December 1, 2010)

None.

Personal Property Registry — Saskatchewan (Effective December 1, 2010)

None.

Personal Property Registry — Manitoba (Effective December 1, 2010)

None.

Personal Property Registry — Ontario (Effective December 1, 2010)

None.

Personal Property Registry — Newfoundland (Effective December 1, 2010)

None.

Personal Property Registry — Yukon Territory (Effective December 1, 2010)

None.

Personal Property Registry — Northwest Territories (Effective December 1, 2010)

None.

Personal Property Registry — Nunavut (Effective December 1, 2010)

None.

Exhibit H-2 — Form of Opinion of Fraser Milner Casgrain LLP

Page 27

 

 

EXHIBIT I

[Form of]

COMPLIANCE CERTIFICATE

     This certificate dated as of ________ ___, 20__ is prepared pursuant to the Amended and
Restated Credit Agreement dated as of December 10, 2010 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Oil States International, Inc., a
Delaware corporation (the “U.S. Borrower”), PTI Group Inc., a corporation amalgamated under the
laws of the Provinces of Alberta (the “Canadian Parent”), PTI Premium Camp Services Ltd., a
corporation amalgamated under the laws of the Province of Alberta (“PTI Premium” and, together with
the Canadian Parent, the “Canadian Borrowers” and, together with the U.S. Borrower, the
“Borrowers”), the Lenders party thereto, Wells Fargo Bank, N.A. as U.S. administrative agent and
U.S. collateral agent (the “Administrative Agent”) for the Lenders, and Royal Bank of Canada as
Canadian administrative agent and Canadian collateral agent (the “Canadian Administrative Agent”)
for the Canadian Lenders.

     The undersigned, on behalf of the U.S. Borrower, hereby certifies and warrants that [     ] is a Financial Officer of the U.S. Borrower and that, as such, he or she is authorized to execute
this certificate for and on behalf of the U.S. Borrower. Except as otherwise disclosed to the
Administrative Agent in writing pursuant to the Credit Agreement, to the best knowledge of the
undersigned, at no time during the period from [       ] through [       ] (the “Certificate
Period”) did a Default or an Event of Default exist.

	 	 	 	 	 	 	 
	 	 	Covenant	 	Maximum/Minimum	 	Actual
	(a)

	 	In accordance with
the covenant set forth
in Section 6.10 of the
Credit Agreement, the
Interest Coverage Ratio
of the U.S. Borrower,
for previous four
consecutive fiscal
quarters (taken as one
accounting period), was:
	 	Minimum 

3.00 to 1.00
	 	

[       ]
	 
	 	 	 	 	 	 
	(b)

	 	In accordance with
the covenant set forth
in Section 6.11 of the
Credit Agreement, the
Leverage Ratio, as of
the last day of the
Certificate Period, was:
	 	Maximum 

_____ to 1.0024
	 	

[       ]

	 	 	A calculation sheet reflecting the above-computations is attached hereto as Schedule 1.

 

			
	24	 	(a) 3.50 to 1.00 for each fiscal quarter
ending after the Effective Date through December 31, 2011, (b) 3.25 to 1.00 for
each fiscal quarter ending from March 31, 2012 through December 31, 2012 or (c)
3.00 to 1.00 for each fiscal quarter thereafter.

Exhibit I — Form of Compliance Certificate

Page 1

 

     IN WITNESS WHEREOF, the undersigned has executed and delivered this certificate, this ____ day
of [                     ], [           ].

	 	 	 	 	 
	 	OIL STATES INTERNATIONAL, INC.,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit I — Form of Compliance Certificate

Page 2

 

SCHEDULE 1

to

EXHIBIT I

CALCULATION SHEET

Exhibit I — Form of Compliance Certificate

Page 3

 

EXHIBIT J

[Form of]

DISCOUNT NOTE

	 	 	 

	Cdn. $__________________

	 	Date:__________________

          FOR VALUE RECEIVED, the undersigned unconditionally promises to pay on __________________
20____ to or to the order of [NAME OF CANADIAN LENDER MAKING B/A EQUIVALENT LOANS] (“Holder”), the
sum of Cdn. $_______________________ with no interest thereon.

          The undersigned hereby waives presentment, protest and notice of every kind and waives any
defenses based upon indulgences which may be granted by the Holder to any party liable hereon and
or days of grace.

          This promissory note evidences a B/A Equivalent Loan, as defined in the Amended and Restated
Credit Agreement dated December 10, 2010 among Oil States International, Inc., a Delaware
corporation, PTI Group Inc., a corporation amalgamated under the laws of the Province of Alberta,
and PTI Premium Camp Services Ltd., a corporation amalgamated under the laws of the Province of
Alberta, as Borrowers, each of the Guarantors, a syndicate of financial institutions, as Lenders,
Wells Fargo Bank, N.A., as Administrative Agent for the Lenders, and Royal Bank of Canada, as
Canadian Administrative Agent for the Canadian Lenders, and constitutes evidence of indebtedness to
the Holder arising from such B/A Equivalent Loan.

	 	 	 	 	 
	 	[PTI GROUP INC.	 
	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	] 
	 

	 	 	 	 	 
	 	[PTI PREMIUM CAMPS SERVICES LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	] 
	 

Exhibit J — Form of Discount Note

Page 1

 

Schedule 1.01(a)

Rolled Letters of Credit

	 	 	 	 	 	 	 	 	 
	Issuing	 	 	 	 	 	 	 
	Bank	 	L/C #	 	Amount	 	 	Beneficiary of L/C
	Wells Fargo
	 	NZS902122	 	$	26,500.00	 	 	HSBC Bank Middle East
	Wells Fargo
	 	NTS906467	 	$	25,000.00	 	 	JPM Chase/National Bank of Iraq
	Cap One
	 	SB-009954-ER	 	$	7,997,000.00	 	 	Zurich American Insurance Co.
	Wells Fargo
	 	NTS906528	 	$	679,617.00	 	 	Kiewit International Projects, Inc.
	Wells Fargo
	 	NZS902166	 	$	120,000.00	 	 	HSBC Bank Middle East
	Wells Fargo
	 	NTS906667	 	$	30,000.00	 	 	Kasikorn Bank
	Wells Fargo
	 	NTS904445	 	$	4,355,070.20	 	 	HSBC London
	Wells Fargo
	 	NTS906463	 	$	1,220,276.85	 	 	Dragados Offshore Mexico, S.A.
	Wells Fargo
	 	NTS906473	 	$	94,610.00	 	 	PT. Bank Mandiri
	Wells Fargo
	 	NTS906375	 	$	195,000.00	 	 	HSBC Indonesia
	Wells Fargo
	 	NTS905271	 	$	65,766.04	 	 	HSBC Singapore
	Cap One
	 	SB-009162-ER	 	$	25,000.00	 	 	Reliance Insurance Company
	Wells Fargo
	 	NTS906327	 	$	12,346.72	 	 	EMDAD, LLC
	Cap One
	 	SB-009186-SS	 	$	233,800.00	 	 	National Union Fire Insurance
	Wells Fargo
	 	NTS950026	 	$	124,614.42	 	 	Industrial & Comm. Bank of China
	Wells Fargo
	 	NTS950016	 	$	40,000.00	 	 	JPM Chase/National Bank of Iraq
	Wells Fargo
	 	NTS950011	 	$	105,000.00	 	 	HSBC India
	Wells Fargo
	 	NTS950018	 	$	104,151.50	 	 	Barclays Bank
	Wells Fargo
	 	NTS906109	 	$	100,420.00	 	 	State Bank of India
	Wells Fargo
	 	NTS906443	 	$	15,810.80	 	 	EMDAD, LLC
	Wells Fargo
	 	NTS906578	 	$	64,348.00	 	 	Bank of China
	Wells Fargo
	 	NTS904887	 	$	680,000.00	 	 	Lloyds TSB Bank Plc
	Cap One
	 	SB-010384-SS	 	$	75,000.00	 	 	Liberty Mutual Insurance Co.
	Wells Fargo
	 	NTS903780	 	$	853,372.38	 	 	Bancomer
	Wells Fargo
	 	NTS903939	 	$	869,925.56	 	 	Bancomer
	Wells Fargo
	 	NZS904975	 	$	87,000.00	 	 	HSBC London
	Wells Fargo
	 	NTS906313	 	$	26,000.00	 	 	HSBC Singapore
	Wells Fargo
	 	NTS906316	 	$	41,232.00	 	 	Larsen&Toubro
	Wells Fargo
	 	NTS906165	 	$	39,731.52	 	 	HSBC Indonesia
	Wells Fargo
	 	NTS906127	 	$	61,705.00	 	 	HSBC Singapore
	Wells Fargo
	 	NTS905836	 	$	110,757.00	 	 	HSBC Singapore
	Wells Fargo
	 	NTS906250	 	$	815,690.00	 	 	OCBC Bank (Malaysia) Berhad
	Wells Fargo
	 	NTS905571	 	$	32,166.20	 	 	HSBC London
	Wells Fargo
	 	NTS904824	 	$	797,295.10	 	 	HSBC London
	Wells Fargo
	 	NTS906578	 	$	8,059.75	 	 	Bank of China
	Wells Fargo
	 	NZS905707	 	$	520,857.23	 	 	European Maritime Commerce BV
	Wells Fargo
	 	NTS906210	 	$	30,425.00	 	 	Citibank Indonesia
	Wells Fargo
	 	NTS906391	 	$	688,117.80	 	 	HSBC Middle East
	Wells Fargo
	 	NTS906513	 	$	41,968.00	 	 	EMDAD, LLC
	Wells Fargo
	 	NTS906668	 	$	333,975.00	 	 	Barclays Bank
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 
	 	Total:	 	$	21,747,609.07	 	 	 
	 
	 	 	 	 	 	 	 

Schedule 1.01(a) — Rolled Letters of Credit

Page 1

 

	 	 	 	 	 	 	 	 	 
	Issuing	 	 	 	 	 	 	 
	Bank	 	L/C #	 	Amount	 	 	Beneficiary of L/C
	BNS
	 	S18572/227346	 	 	C$130,000.00	 	 	Minister of Finance (Alberta)
	BNS
	 	S18572/228420	 	 	C$25,000.00	 	 	Summit Real Estate LP
	BNS
	 	S18572/249085	 	 	C$79,860.00	 	 	Minister of Finance (Alberta)
	BNS
	 	S18572/266910	 	 	C$100,000.00	 	 	Minister of Finance (Alberta)
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 
	 	Total:	 	 	C$334,860.00	 	 	 
	 
	 	 	 	 	 	 	 

Schedule 1.01(a) — Rolled Letters of Credit

Page 2

 

Schedule 1.01(b)

U.S. Subsidiary Guarantors

	 

	Acute Technological Services, Inc.

	Capstar Drilling LP, L.L.C.

	Capstar Holding, L.L.C.

	Capstar Drilling, Inc.

	Capstar Drilling GP, L.L.C.

	General Marine Leasing, LLC

	Oil States Energy Services, Inc

	Oil States Management, Inc.

	Oil States Industries, Inc.

	Oil States Skagit SMATCO, LLC

	PTI Group USA LLC

	PTI Mars Holdco1, LLC

	Sooner Inc.

	Sooner Pipe, L.L.C.

	Sooner Holding Company

	Specialty Rental Tools & Supply, L.L.C.

	Stinger Wellhead Protection, Incorporated

	Well Testing, Inc.

Schedule 1.01(b) — U.S. Subsidiary Guarantors

Page 1

 

Schedule 1.01(c)

Canadian Subsidiary Guarantors

	 

	892493 Alberta Inc.

	PTI Travco Modular Structures Ltd.

	PTI Camp Installations Ltd.

	Crown Camp Services Ltd.

	PTI International Inc.

	PTI International Ltd.

	Stinger Wellhead Protection (Canada) Incorporated

	PTI Noble Structures Inc.

Schedule 1.01(c) — Canadian Subsidiary Guarantors

Page 1

 

Schedule 2.01

Lenders and Commitments

Commitments

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Canadian	 	 	 	 
	 	 	U.S. Revolving	 	U.S. Term	 	Revolving	 	Canadian Term	 	Total
	Bank	 	Commitment	 	Commitment	 	Commitment	 	Commitment	 	Commitment
	Wells Fargo Bank, N.A.
	 	$	58,427,815	 	 	$	23,371,129	 	 	$	0	 	 	$	0	 	 	$	81,798,944.00	 
	Wells Fargo Financial Corporation Canada
	 	$	0	 	 	$	0	 	 	$	48,715,041	 	 	$	19,486,015	 	 	$	68,201,056.00	 
	Royal Bank of Canada
	 	$	38,951,877	 	 	$	15,580,752	 	 	$	32,476,694	 	 	$	12,990,677	 	 	$	100,000,000.00	 
	JPMorgan Chase Bank, N.A.
	 	$	47,619,048	 	 	$	19,047,619	 	 	$	23,809,524	 	 	$	9,523,809	 	 	$	100,000,000.00	 
	The Bank of Nova Scotia
	 	$	30,952,381	 	 	$	12,380,952	 	 	$	15,476,191	 	 	$	6,190,476	 	 	$	65,000,000.00	 
	Toronto Dominion (Texas) LLC
	 	$	18,969,514	 	 	$	7,587,805	 	 	$	0	 	 	$	0	 	 	$	26,557,319.00	 
	The Toronto-Dominion Bank
	 	$	0	 	 	$	0	 	 	$	27,459,058	 	 	$	10,983,623	 	 	$	38,442,681.00	 
	DNB NOR Bank ASA
	 	$	23,809,524	 	 	$	9,523,809	 	 	$	11,904,762	 	 	$	4,761,905	 	 	$	50,000,000.00	 
	Bank of America, N.A.
	 	$	23,809,524	 	 	$	9,523,809	 	 	$	0	 	 	$	0	 	 	$	33,333,333.00	 
	Bank of America, N.A., acting through its
Canada Branch
	 	$	0	 	 	$	0	 	 	$	11,904,762	 	 	$	4,761,905	 	 	$	16,666,667.00	 
	HSBC Bank USA, N.A.
	 	$	23,809,524	 	 	$	9,523,809	 	 	$	0	 	 	$	0	 	 	$	33,333,333.00	 
	HSBC Bank Canada
	 	$	0	 	 	$	0	 	 	$	11,904,762	 	 	$	4,761,905	 	 	$	16,666,667.00	 
	Credit Suisse AG
	 	$	23,809,524	 	 	$	9,523,809	 	 	$	11,904,762	 	 	$	4,761,905	 	 	$	50,000,000.00	 
	Fifth Third Bank
	 	$	35,714,286	 	 	$	14,285,714	 	 	$	0	 	 	$	0	 	 	$	50,000,000.00	 

Schedule 2.01 — Lenders and Commitments

Page 1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Canadian	 	 	 	 
	 	 	U.S. Revolving	 	U.S. Term	 	Revolving	 	Canadian Term	 	Total
	Bank	 	Commitment	 	Commitment	 	Commitment	 	Commitment	 	Commitment
	Sumitomo Mitsui Banking Corporation
	 	$	23,809,524	 	 	$	9,523,809	 	 	$	0	 	 	$	0	 	 	$	33,333,333.00	 
	Sumitomo Mitsui Banking Corporation of Canada
	 	$	0	 	 	$	0	 	 	$	11,904,762	 	 	$	4,761,905	 	 	$	16,666,667.00	 
	Natixis, New York Branch
	 	$	18,095,238	 	 	$	7,238,095	 	 	$	9,047,619	 	 	$	3,619,048	 	 	$	38,000,000.00	 
	U.S. Bank National Association
	 	$	18,095,238	 	 	$	7,238,095	 	 	$	9,047,619	 	 	$	3,619,048	 	 	$	38,000,000.00	 
	Capital One, N.A.
	 	$	27,142,857	 	 	$	10,857,143	 	 	$	0	 	 	$	0	 	 	$	38,000,000.00	 
	Barclays Bank plc
	 	$	18,095,238	 	 	$	7,238,095	 	 	$	9,047,619	 	 	$	3,619,048	 	 	$	38,000,000.00	 
	Comerica Bank
	 	$	18,095,238	 	 	$	7,238,095	 	 	$	9,047,619	 	 	$	3,619,048	 	 	$	38,000,000.00	 
	Amegy Bank National Association
	 	$	19,047,618	 	 	$	7,619,048	 	 	$	0	 	 	$	0	 	 	$	26,666,666.00	 
	National Australia Bank Limited
	 	$	19,047,619	 	 	$	7,619,048	 	 	$	0	 	 	$	0	 	 	$	26,666,667.00	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	$	12,698,413	 	 	$	5,079,365	 	 	$	0	 	 	$	0	 	 	$	17,777,778.00	 
	Bank of Tokyo-Mitsubishi UFJ (Canada)
	 	$	0	 	 	$	0	 	 	$	6,349,206	 	 	$	2,539,683	 	 	$	8,888,889.00	 
	TOTAL
	 	$	500,000,000	 	 	$	200,000,000	 	 	$	250,000,000	 	 	$	100,000,000	 	 	$	1,050,000,000	 

Schedule 2.01 — Lenders and Commitments

Page 2

 

Schedule 3.08

Subsidiaries

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Ownership	 
	 	 	 	 	 	 	Interest of U.S.	 
	 	 	Jurisdiction	 	Outstanding	 	Borrower and	 
	Subsidiary Name	 	of Formation	 	Equity Interests	 	its Subsidiaries	 
	892493 Alberta Inc.
	 	Alberta	 	100 Class A Common Shares	 	 	100	%
	892489 Alberta Inc.
	 	Alberta	 	100 Common Shares; 1,757 Exchangeable Shares	 	100% of Common Shares
	3045843 Nova Scotia Company
	 	Nova Scotia	 	Three Common Shares	 	 	100	%
	AcuteCyberTwo LLC
	 	Texas	 	Membership Interest	 	 	100	%
	Acute Technological Services, Inc.
	 	Texas	 	1,045,454 Shares of common stock	 	 	100	%
	ATSCyberone LLC
	 	Texas	 	Membership Interest	 	 	100	%
	A-Z Terminal Corporation
	 	Oklahoma	 	1,000 shares	 	 	100	%
	Capstar Drilling GP, L.L.C.
	 	Delaware	 	Membership Interest	 	 	100	%
	Capstar Drilling LP, L.L.C.
	 	Delaware	 	Membership Interest	 	 	100	%
	Capstar Drilling, Inc.
	 	Texas	 	27, 882 shares of common stock	 	 	100	%
	Capstar Holding, L.L.C.
	 	Delaware	 	Membership Interest	 	 	100	%
	Chickasaw Distributors, Inc.
	 	Texas	 	N/A	 	 	29	%
	Christina Lake Enterprises Ltd.
	 	Alberta	 	100 Common Shares	 	 	100	%
	Crown Camp Services Ltd
	 	Alberta	 	100 Class “A” Shares; 25.67 Class “A”Shares	 	 	100	%
	CyberSolda IMCSS LTDA.
	 	Brazil	 	1,200,000 shares	 	 	100	%
	Ek’Ati Services Ltd.
	 	Northwest Territories	 	51 Class “A”Shares;
49 Class “B”Shares	 	 	100	%
	Elastomeric Actuators, Inc.
	 	Texas	 	1,000 shares	 	 	60	%
	Especiality Rental Tools & Supplies de Mexico S.A. de C.V.
	 	Tabasco, Mexico	 	500 shares	 	 	100	%
	General Marine Construction, Inc.
	 	Louisiana	 	1,000 Common	 	 	100	%

Schedule 3.08 — Subsidiaries and Special Purpose Business Entities

Page 1

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Ownership	 
	 	 	 	 	 	 	Interest of U.S.	 
	 	 	Jurisdiction	 	Outstanding	 	Borrower and	 
	Subsidiary Name	 	of Formation	 	Equity Interests	 	its Subsidiaries	 
	General Marine Leasing, LLC
	 	Delaware	 	Membership Interest	 	 	100	%
	General Marine Offshore Equipment, Inc.
	 	Louisiana	 	1,000 Common	 	 	100	%
	G&T Oil States Industries Private Limited
	 	India	 	1,456,360	 	 	25	%
	*MSL Nominees Pty Ltd.
	 	 	 	 	 	 	 	 
	Norwel Developments Limited
	 	Northwest Territories	 	200 Class “A”Common Shares	 	 	100	%
	Oil States Industries do Brasil — Instalacoes Maritimas Ltda.
	 	Rio de Jeneiro, Brazil	 	Quotas — uncertificated	 	 	100	%
	Oil States Energy Services, Inc.
	 	Delaware	 	1,000 shares of common stock	 	 	100	%
	Oil States Industries (Asia) PTE LTD
	 	Singapore	 	100 common	 	 	100	%
	Oil States Industries (Thailand) Ltd.
	 	Rayong, Thailand	 	67,200 ordinary shares	 	 	96	%
	Oil States Industries (UK) Limited
	 	Scotland	 	35,000	 	 	100	%
	Oil States Industries Nigeria Limited
	 	Nigeria	 	4,950,000	 	 	99	%
	Oil States Industries, Inc.
	 	Delaware	 	1,000 shares of common	 	 	100	%
	Oil States Klaper Limited
	 	England	 	599,902 shares	 	 	100	%
	Oil States Management, Inc.
	 	Delaware	 	1,000 shares of common stock	 	 	100	%
	Oil States Martec de Mexico
	 	Mexico	 	50,000 Common	 	 	100	%
	Oil States MCS, Ltd.
	 	England	 	200,000 shares	 	 	100	%
	Oil States Skagit SMATCO, LLC
	 	Delaware	 	Membership Interest issued in unit
increments —  500 units	 	 	100	%
	Oil States Uniäo S.A.
	 	Brazil	 	10,200 Common	 	 	51	%
	PTI Atlantic Ltd.
	 	Newfoundland and Labrador	 	100 common shares	 	 	100	%
	PTI Camp Installations Ltd
	 	Alberta	 	100 Class “A” Shares	 	 	100	%
	PTI Group USA LLC
	 	Delaware	 	Membership Interest	 	 	100	%

Schedule 3.08 — Subsidiaries and Special Purpose Business Entities

Page 2

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Ownership	 
	 	 	 	 	 	 	Interest of U.S.	 
	 	 	Jurisdiction	 	Outstanding	 	Borrower and	 
	Subsidiary Name	 	of Formation	 	Equity Interests	 	its Subsidiaries	 
	PTI Group Inc.
	 	Alberta	 	4,722,490 Class “A” Common Shares; 1,500,000 Class “B” Common Shares; 904,200 Class “C” Common Shares; 634,265 Class “D” Common Shares	 	 	100	%
	PTI Holding Company 1 Pty Ltd.
	 	Australia	 	1, share	 	 	100	%
	PTI Holding Company 2 Pty Ltd.
	 	Australia	 	1, share	 	 	100	%
	PTI International (Europe) BV
	 	The Netherlands	 	18 common shares	 	 	100	%
	PTI International Inc.
	 	Alberta	 	100 Common Shares	 	 	100	%
	PTI International Ltd.
	 	Alberta	 	100,100 Class A Shares	 	 	100	%
	PTI Mars Coöperatief 1 U.A
	 	Netherlands	 	Membership Interest	 	 	100	%
	PTI Mars Coöperatief 2 U.A
	 	Netherlands	 	Membership Interest	 	 	100	%
	PTI Mars Coöperatief 3 U.A
	 	Netherlands	 	Membership Interest	 	 	100	%
	PTI Mars Holdco 1, LLC
	 	Delaware	 	Membership Interest	 	 	100	%
	PTI Mars Holdco 2, LLC
	 	Delaware	 	Membership Interest	 	 	100	%
	PTI Mars Holdco 3, LLC
	 	Delaware	 	Membership Interest	 	 	100	%
	PTI Mars Holdco 4, LLC
	 	Delaware	 	Membership Interest	 	 	100	%
	PTI Noble Structures Inc.
	 	Alberta	 	100 shares	 	 	100	%
	PTI Premium Camp Services Ltd.
	 	Alberta	 	489.66 Class A Shares	 	 	100	%
	PTI Remote Site Services USA Inc.
	 	Alaska	 	1,500 shares	 	 	100	%
	PTI Travco Modular Structures Ltd.
	 	Alberta	 	429,648 Shares	 	 	100	%
	Quality Oilfield Services (2001), Ltd.
	 	Barbados	 	n/a	 	 	100	%
	Sooner Holding Company
	 	Delaware	 	500 shares	 	 	100	%

Schedule 3.08 — Subsidiaries and Special Purpose Business Entities

Page 3

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% Ownership	 
	 	 	 	 	 	 	Interest of U.S.	 
	 	 	Jurisdiction	 	Outstanding	 	Borrower and	 
	Subsidiary Name	 	of Formation	 	Equity Interests	 	its Subsidiaries	 
	Sooner Inc.
	 	Delaware	 	1,000 shares	 	 	100	%
	Sooner Pipe & Supply Nigeria Limited
	 	Nigeria	 	2,000,000	 	 	100	%
	Sooner Pipe & Supply Venezuela S.A.
	 	Venezuela	 	100 shares	 	 	100	%
	Sooner Pipe, L.L.C.
	 	Delaware	 	Membership Interest	 	 	100	%
	Specialty Rental Tools & Supply, L.L.C
	 	Delaware	 	Membership Interest	 	 	100	%
	Stinger Mexicana S.A. de C.V.
	 	Tamaulipas, Mexico	 	$53,000.00	 	 	100	%
	Stinger Wellhead International, Inc.
	 	Commonwealth of the Bahamas	 	3,000 shares	 	 	100	%
	Stinger Wellhead Protection (Canada) Incorporated
	 	Alberta	 	1,000 Class A Common shares; 266 Class B Common shares	 	 	100	%
	Stinger Wellhead Protection, Incorporated
	 	Texas	 	120 shares	 	 	100	%
	*The MAC Linen Services Pty Ltd.
	 	 	 	 	 	 	 	 
	*The MAC Services Group Limited
	 	 	 	 	 	 	 	 
	Tree Savers International (USA), Inc.
	 	Oklahoma	 	1,000 shares	 	 	100	%
	Well Testing, Inc.
	 	Delaware	 	400 shares of common	 	 	100	%

 

			
	*	 	Entities will become subsidiaries on the Implementation Date.

Special purpose Business Entities

Buffalo Metis Catering Ltd.

Metis Catering Joint Venture Ltd.

Spectrum Catering Ltd.

Kusawa Catering Ltd.

Asaki Catering Ltd.

Schedule 3.08 — Subsidiaries and Special Purpose Business Entities

Page 4

 

Schedule 3.09

Litigation

None.

Schedule 3.09 — Litigation

Page 1

 

Schedule 3.16(a)

Unfunded Plans

None.

Schedule 3.16(a) — Unfunded Plans

Page 1

 

Schedule 3.16(b)

Canadian Benefit Plans

	 	 	 	 	 	 	 
	Company Name	 	Non-union / Union	 	Pension Plan type	 	Health & Wellness
	PTI Premium Camp Services Ltd.

	 	Salaried / Hourly
	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	Buffalo Metis Catering Ltd.

	 	Salaried/Local 401 UFCW
	 	PTI provided RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	PTI Group Inc.

	 	 	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	Crown Camp Services Ltd.

	 	Salaried
	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	Crown Camp Services Ltd.

	 	Union — Lakeside
	 	Union Defined Benefit Plan
	 	Union- ARM Management
	 
	 	 	 	 	 	 
	Crown Camp Services Ltd.

	 	Union- Mildred Lake/Syncrude Cafeteria
	 	Union Defined Benefit Plan
	 	Union- ARM Management *
	 
	 	 	 	 	 	 
	Norwel Developments Limited

	 	Salaried
	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	PTI Travco Modular Structures Ltd.

	 	Salaried and Union — Local 2010
Carpenters
	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	PTI Camp Installations Ltd.

	 	All Trades
	 	Union Defined Benefit Plan
	 	Union Plan
	 
	 	 	 	 	 	 
	PTI Camp Installations

	 	Salaried and Hourly — Admin.
	 	Matching RRSP — GWL
	 	PTI — Sun Life
	 
	 	 	 	 	 	 
	PTI Noble

	 	Salaried and Non Union Hourly
	 	Matching RRSP — GWL
	 	PTI — Sun Life

 

Notes:

RRSP = Registered Retirement Savings Plan

GWL = Great West Life

			
	*	 	contract expires 12/31/10

Schedule 3.16(b) — Canadian Benefit Plans

Page 1

 

Schedule 3.17

Environmental Matters

None.

Schedule 3.17 — Environmental Matters

Page 1

 

Schedule 6.01

Outstanding Indebtedness on Effective Date

1. Indebtedness reflected on the consolidated balance sheet of the U.S. Borrower dated as of
September 30, 2010.

2. Indebtedness reflected on the consolidated statement of financial position of the MAC Group
dated as of June 30, 2010.

Schedule 6.01 — Outstanding Indebtedness on Effective Date

Page 1

 

Schedule 6.02

Liens Existing on Effective Date

Debtor: Chickasaw Distributors, Inc.

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Texas Secretary of State

	 	08-0014605620
	 	4/29/2008
	 	Sooner Pipe, L.L.C.

Debtor: Oil States Industries, Inc.

	 	 	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Delaware Secretary of State

	 	61103126	 	4/3/2006
	 	U. S. Bancorp
	Delaware Secretary of State

	 	61880137	 	6/2/2006
	 	Inter-Tel Leasing, Inc.
	Delaware Secretary of State

	 	62792422	 	8/11/2006
	 	Toyota Motor Credit Corporation
	Delaware Secretary of State

	 	20080261089	 	1/22/2008
	 	Inter-Tel Leasing, Inc.
	Delaware Secretary of State

	 	20081857216	 	5/30/2008
	 	Inter-Tel Leasing, Inc.
	Delaware Secretary of State

	 	20082710661	 	8/7/2008
	 	NMHG Financial Services Inc.
	Delaware Secretary of State

	 	20083049549	 	9/9/2008
	 	Mitel Leasing, Inc.
	Delaware Secretary of State

	 	20083269113	 	9/26/2008
	 	Leaf Funding, Inc.
	Delaware Secretary of State

	 	20091148367	 	4/9/2009
	 	Air Liquide Instrial U.S. LP
	Delaware Secretary of State

	 	20092663331	 	8/19/2009
	 	Mitel Leasing, Inc.

Debtor: Oil States International, Inc.

	 	 	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Delaware Secretary of State

	 	20071114403	 	3/26/2007
	 	Crown Credit Company

Schedule 6.02 — Liens Existing on Effective Date

Page 1

 

Debtor: Oil States Skagit Smatco, LLC

	 	 	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Delaware Secretary of State

	 	20070925411	 	3/12/2007
	 	Inter-Tel Leasing, Inc.

Debtor: PTI Atlantic Ltd.

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Northwest Territories

	 	392561-CT9
	 	11/23/2006
	 	The Toronto-Dominion Bank

Debtor: PTI Camp Installations Ltd.

	 	 	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta

	 	09010518184	 	1/5/2009
	 	Buckwold Western Ltd.
	Alberta

	 	10092333774	 	9/23/2010
	 	Bobcat of Fort McMurray
	Alberta

	 	1010289962	 	10/28/2010
	 	Bobcat of Fort McMurray

Debtor: PTI Group Inc.

	 	 	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta

	 	07072733616	 	7/27/2007
	 	Koch Ford Lincoln Sales (2003) Ltd & HSBC
	Alberta

	 	09072019646	 	7/20/2009
	 	Coast Wholesale Appliances LP
	Alberta

	 	10081029883	 	8/10/2010
	 	Edmonton Kenworth Ltd
	Alberta

	 	10081131468	 	8/11/2010
	 	Edmonton Kenworth Ltd
	Alberta

	 	10082310626	 	8/23/2010
	 	Sysco Montana, Inc.
	Alberta

	 	10091522823	 	9/15/2010
	 	Kal Tire A Corporate Partnership
	Alberta

	 	10092223737	 	9/22/2010
	 	Kal Tire A Corporate Partnership
	Alberta

	 	10101410399	 	10/14/2010
	 	Bradt Tractor Ltd.

Schedule 6.02 — Liens Existing on Effective Date

Page 2

 

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta
	 	10102019053	 	10/20/2010	 	Kal Tire A Corporate Partnership
	Alberta
	 	10110234796	 	11/2/2010	 	Northgate Industries Ltd.
	Alberta
	 	10112517771	 	11/25/2010	 	Kal Tire — Leduc (650)
	British Columbia
	 	764150F	 	9/15/2010	 	Kal Tire A Corporate Partnership

     Debtor: PTI Noble Structures Inc.

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta
	 	05072620684	 	7/26/2005	 	Buckwold Western Ltd.

     Debtor: PTI Premium Camp Services Ltd.

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta
	 	08121729992	 	12/17/2008	 	Sisson Enterprises Corp & Tanks Direct
	Alberta
	 	10081129017	 	8/11/2010	 	Atco Structures & Logistics Ltd
	Alberta
	 	09050514986	 	5/5/2010	 	Lions Gate Trailers Ltd.
	Alberta
	 	10080429513	 	8/4/2010	 	Black Diamond LP
	Alberta
	 	10081932333	 	8/19/2010	 	Black Diamond LP
	Alberta
	 	10082310626	 	8/23/2010	 	Sysco Montana, Inc.
	Alberta
	 	10091033073	 	9/10/2010	 	Lions Gate Trailers Ltd.
	Alberta
	 	10093024379	 	9/30/2010	 	Alta-Fab Structures Ltd.
	Alberta
	 	10101336058	 	10/13/2010	 	Alta-Fab Structures Ltd.
	Alberta
	 	10101336066	 	10/13/2010	 	Alta-Fab Structures Ltd.
	Alberta
	 	10101407171	 	10/14/2010	 	Alta-Fab Structures Ltd.

Schedule 6.02
— Liens Existing on Effective Date

Page 3

 

     Debtor: PTI Travco Modular Structures Ltd.

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Alberta
	 	08111917690	 	11/19/2008	 	Arpac Storage Systems Corporation

     Debtor: Stinger Wellhead Protection (Canada) Incorporated

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Saskatchewan
	 	300516012	 	10/16/2009	 	Saskatchewan Finance
	Alberta
	 	10092822432	 	9/28/2010	 	Kal Tire A Corporate Partnership
	Alberta
	 	101012626633	 	10/26/2010	 	Kal Tire A Corporate Partnership
	Alberta
	 	8120920143	 	12/9/2008	 	IOS Financial Services

     Debtor: Stinger Wellhead Protection, Incorporated

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Texas Secretary of State
	 	05-0030320215	 	9/29/2005	 	Susquehanna Patriot Commercial Leasing Company,
	 
	 	 	 	 	 	Inc. and FPC Funding II LLC
	Texas Secretary of State
	 	05-0032196511	 	10/17/2005	 	Dell Financial Services, L.P.

     Debtor: The Mac Services Group Limited

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Australia
	 	690247	 	9/4/1999	 	National Australia Bank Limited
	Australia
	 	1278948	 	3/22/2006	 	Bank of New Zealand Australia
	Australia
	 	1284291	 	4/4/2006	 	Bank of New Zealand Australia
	Australia
	 	1662794	 	11/7/2008	 	Bank of New Zealand Australia
	Australia
	 	1662795	 	11/7/2008	 	National Australia Bank Limited

Schedule 6.02
— Liens Existing on Effective Date

Page 4

 

	 	 	 	 	 	 	 
	JURISDICTION	 	FILE #	 	FILE DATE	 	SECURED PARTY
	Australia
	 	1666611	 	7/21/2008	 	Bank of New Zealand Australia
	Australia
	 	1666622	 	7/21/2008	 	National Australia Bank Limited

Schedule 6.02
— Liens Existing on Effective Date

Page 5

 

Schedule 6.04

Existing Investments

1. Investments reflected on the consolidated balance sheet of the U.S. Borrower dated as of
September 30, 2010.

2. Intercompany Investments existing on the Effective Date.

Schedule 6.04 — Existing Investments

Page 1exv4w1

Exhibit 4.1

FORM OF CERTIFICATE FOR SHARES OF

8.500% SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK

			
	Number                    
	 	                     Shares
	 
	 	CUSIP 19238U206

SEE REVERSE FOR CERTAIN DEFINITIONS AND RESTRICTIONS

COGDELL SPENCER INC.

a Corporation Formed Under the Laws of the State of Maryland

	 	 	 

	THIS CERTIFIES THAT
	 	 
	 

	 	 

	 	 	 

	is the owner of
	 	 
	 

	 	 

FULLY PAID AND NONASSESSABLE SHARES OF 8.500% SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED
STOCK, LIQUIDATION PREFERENCE $25.00 PER SHARE, $0.01 PAR VALUE PER SHARE, OF

COGDELL SPENCER INC.

(the “Corporation”), transferable on the books of the Corporation by the registered holder hereof
in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This
Certificate and the shares represented hereby are issued and shall be held subject to all of the
provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the Corporation and
any amendments thereto. This Certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar.

IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed on its behalf by its
duly authorized officers.

Dated:                     

	 	 	 

	 
	 	 
	Secretary
	 	President

Countersigned and Registered:

Continental Stock Transfer & Trust Company

Transfer Agent and Registrar

 

 

COGDELL SPENCER INC.

     The following abbreviations, when used in the inscription on the face of this Certificate,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 	 	 

	TEN COM

	 	-as tenants in common
	 	UNIF GIFT MIN ACT
	 	___ Custodian ___ (Cust)       (Minor) under Uniform Gifts to Minors Act of _______ (State)
	 
	 	 	 	 	 	 
	TEN ENT

	 	-as tenants by the entireties	 	 	 	 
	 
	 	 	 	 	 	 
	JT TEN

	 	-as joint tenants with right
of survivorship and not as
tenants in common	 	 	 	 

     Additional abbreviations may also be used though not in the above list.

For Value Received,                                        hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

(Please Print or Typewrite Name
and Address Including Zip Code, of Assignee)

Shares of the 8.500% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per
share, of the Corporation represented by the within Certificate, and do hereby irrevocably
constitute and appoint                                         attorney to transfer the said stock on the
books of the within named Corporation with full power of substitution in the premises.

Dated:

	 	 	 	 	 
	 	 	 
	 	X  	
 	 
	 	 	 
	 	X  	
 	 
	 	 	 	 
	 	 	NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT
MUST CORRESPOND WITH THE NAME(S) AS WRITTEN
UPON THE FACE OF THE CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATEVER. 	 
	 

- 2 -

 

Signature(s) Guaranteed

	 	 	 	 	 
	 	By  	 	 
	 	 	THE SIGNATURE(S) MUST BE
GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND
LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM), PURSUANT TO
S.E.C. RULE 17Ad-15	 
	 	 	 	 
	 

IMPORTANT NOTICE

THE SHARES OF CAPITAL STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON
BENEFICIAL AND CONSTRUCTIVE OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE CORPORATION’S MAINTENANCE
OF ITS STATUS AS A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(THE “CODE”). SUBJECT TO CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY PROVIDED IN THE
CORPORATION’S CHARTER, (1) NO PERSON (OTHER THAN AN EXCEPTED HOLDER OR A DESIGNATED INVESTMENT
ENTITY) MAY BENEFICIALLY OR CONSTRUCTIVELY OWN (I) SHARES OF THE CORPORATION’S PREFERRED STOCK IN
EXCESS OF 7.75% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING
PREFERRED STOCK OF THE CORPORATION OR (II) SHARES OF THE CORPORATION’S CAPITAL STOCK IN EXCESS OF
7.75% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING CAPITAL
STOCK OF THE CORPORATION; AND (2) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF
CAPITAL STOCK THAT WOULD RESULT IN THE CORPORATION BEING “CLOSELY HELD” UNDER SECTION 856(H) OF THE
CODE OR OTHERWISE CAUSE THE CORPORATION TO FAIL TO QUALIFY AS A REIT; AND (3) NO PERSON MAY
TRANSFER SHARES OF PREFERRED STOCK IF SUCH TRANSFER WOULD RESULT IN THE PREFERRED STOCK OF THE
CORPORATION BEING OWNED BY FEWER THAN 100 PERSONS. AN “EXCEPTED HOLDER” MEANS A PERSON FOR WHOM AN
EXCEPTED HOLDER OWNERSHIP LIMIT HAS BEEN CREATED BY THE CORPORATION’S CHARTER OR BY THE BOARD OF
DIRECTORS. ANY PERSON WHO BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR
CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK IN VIOLATION OF THE ABOVE LIMITATIONS MUST IMMEDIATELY
NOTIFY THE CORPORATION. IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP IS VIOLATED, THE
SHARES OF CAPITAL STOCK REPRESENTED HEREBY WILL BE AUTOMATICALLY TRANSFERRED TO THE TRUSTEE OF A
TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES. IN ADDITION, THE CORPORATION MAY
REDEEM SHARES UPON THE TERMS AND CONDITIONS SPECIFIED BY THE BOARD OF DIRECTORS IN ITS SOLE
DISCRETION IF THE BOARD OF DIRECTORS DETERMINES THAT OWNERSHIP OR A TRANSFER OR OTHER EVENT MAY
VIOLATE THE RESTRICTIONS DESCRIBED ABOVE. FURTHERMORE, UPON THE OCCURRENCE OF CERTAIN EVENTS,
ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO. ALL
TERMS IN THIS LEGEND THAT ARE DEFINED IN THE CHARTER OF THE CORPORATION SHALL HAVE THE MEANINGS
ASCRIBED TO THEM IN THE CHARTER OF THE CORPORATION, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, A
COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND OWNERSHIP, WILL BE FURNISHED TO EACH
HOLDER OF SHARES OF CAPITAL STOCK ON REQUEST AND WITHOUT CHARGE. REQUESTS FOR SUCH A COPY MAY BE
DIRECTED TO THE SECRETARY OF THE CORPORATION AT ITS PRINCIPAL OFFICE.

- 3 -

 

The Corporation will furnish to any stockholder, on request and without charge, a full statement of
the information required by Section 2-211(b) of the Maryland General Corporation Law with respect
to the designations and any preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications, and terms and conditions of
redemption of the stock of each class which the Corporation has authority to issue and (i) the
differences in the relative rights and preferences between the shares of each series to the extent
set and (ii) the authority of the Board of Directors to set such rights and preferences of
subsequent series. The foregoing summary does not purport to be complete and is subject to and
qualified in its entirety by reference to the charter of the Corporation, a copy of which will be
sent without charge to each stockholder who so requests. Such request must be made to the
Secretary of the Corporation at its principal office.

- 4 -

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