Document:

STOCK OPTION AND STOCK APPRECIATION RIGHT PLAN

  2007 NONQUALIFIED STOCK OPTION PLAN 

Article    

 I.  

Purposes of the Plan 

 II.  

Amount of Stock Subject to Plan 

 III.  

Effective Date and Term of the Plan 

 IV.  

Administration 

 V.  

Eligibility 

 VI.  

Options: Price and Payment

 VII.  

Use of Proceeds 

 VIII.   

Term of Options and Limitations on the Right of Exercise 

 IX.  

Exercise of Options 

X.

Nontransferability of Options and Stock Appreciation Rights

 XI.

  

Termination of Directors, Employees and Independent Contractors

 XII. 

Adjustment of Shares; Effect of Certain Transactions 

 XIII.

Right to Terminate Employees and Independent Contractors

 XIV. 

Purchase for Investment 

 XV. 

Issuance of Certificates; Legends; Payment of Expenses 

 XVI. 

Amendment of the Plan

 XVII. 

Termination or Suspension of the Plan 

 XVIII. 

Governing Law 

XIX.

Partial Invalidity 

1

 MICRON ENVIRO SYSTEMS, INC.

 2007 NONQUALIFIED STOCK OPTION PLAN

I. PURPOSES OF THE PLAN 

1.01 Micron Enviro Systems, Inc., a Nevada corporation (“Company”), desires to provide to certain of its directors, officers, employees and independent contractors and the directors, officers, employees and independent contractors of any subsidiary corporation or parent corporation of the Company who are responsible for the continued growth of the Company an opportunity to acquire a proprietary interest in the Company, and, therefore, to create in such directors, employees and independent contractors an increased interest in and a greater concern for the welfare of the Company. 

The Company, by means of this Micron Enviro Systems, Inc. 2007 Nonqualified Stock Option Plan (the “Plan”), seeks to retain the services of persons now serving in certain capacities and to secure the services of persons capable of serving in similar capacities.  

1.02  The stock options (the “Options”) offered pursuant to the Plan are a matter of separate inducement and are not in lieu of any salary or other compensation for the services of any director, employee, or independent contractor. 

1.03  The Options are intended to be options that do not satisfy the requirements for Incentive Options within the meaning of Section 422A of the Internal Revenue Code of 1986, as amended (the “Code”). 

II. AMOUNT OF STOCK SUBJECT TO THE PLAN

2.01  The total number of shares of common stock of the Company which may be purchased pursuant to the exercise of Options shall not exceed, in the aggregate, sixty million (60,000,000) shares of the authorized common stock, $.001 par value per share, of the Company (the "Shares"),  

2.02  The Shares which may be acquired pursuant to the Plan may be either authorized but unissued Shares, Shares of issued stock held in the Company's treasury, or both, at the discretion of the Company. If and to the extent that Options expire or terminate without having been exercised, new Options may be granted with respect to Shares subject to such expired or terminated Options; provided, however, that the grant and the terms of such new Options shall in all respects comply with the provisions of the Plan. 

III. EFFECTIVE DATE AND TERM OF THE PLAN

 

3.01  The Plan shall become effective on the date (the "Effective Date") on which the Plan is adopted by the Board of Directors of the Company (the “Board of Directors”). 

3.02  The Company may, from time to time during the period beginning on the Effective Date and ending on December 31, 2014 (the “Termination Date”), grant Options to persons eligible to participate in the Plan, pursuant to the terms of the Plan. Options granted prior to the Termination Date may extend beyond the Termination Date, in accordance with the terms thereof. 

3.03  A director, employee or independent contractor to whom Options are granted may be referred to in the Plan as a “Participant.” 

IV. ADMINISTRATION

 

4.01  The Board of Directors shall administer the Plan. A majority of the members of the Board of Directors shall constitute a quorum, and the act of a majority of the members of the Board of Directors shall be the act of the Board of Directors. 

4.02  Subject to the express provisions of the Plan, the Board of Directors shall have the authority, in its discretion, 

(i) 

to determine the directors, officers, employees and independent contractors to whom Options shall be granted, the time when Options shall be granted, the number of Shares which shall be subject to each Option, the purchase price or exercise price of each Share which shall be subject to each Option, the period(s) during which Options shall be exercisable (whether in whole or in part), and the other terms and provisions of the Options (which are not required to be identical); 

(ii) 

to construe the Plan and the Options;

(iii) 

to prescribe, amend and rescind rules and regulations relating to the Plan; and 

(iv) 

to make all other determinations necessary or appropriate for administering the Plan. 

4.03  Without limiting the generality of the foregoing, the Board of Directors also shall have the authority to require, in its discretion, as a condition of the granting of any Option, that the Participant agree (i) not to sell or otherwise dispose of Shares acquired pursuant to such Option for a period of twelve (12) months following the date of acquisition of such Shares and (ii) that in the event of termination of directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement of such Participant with the Company, other than as a result of dismissal without cause, such Participant will not, for a period to be determined at the time of the grant of such Option, enter into any employment or participate directly or indirectly in any business or enterprise which is competitive with the business of the Company or any subsidiary corporation or parent corporation of the Company, or enter into any employment or participate directly or indirectly in any business or enterprise in which such person will be called upon to utilize special knowledge obtained through directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement with the Company or any subsidiary corporation or parent corporation of the Company. The determination of the Board of Directors on matters referred to in this Article IV shall be conclusive. 

4.04  The Board of Directors may employ such legal counsel, consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. Expenses incurred in the engagement of such counsel, consultant or agent shall be paid by the Company. No member or former member of the Board of Directors shall be liable for any action or determination made in good faith with respect to the Plan or any Option. 

V. ELIGIBILITY

 

Options may be granted only to directors, officers, employees and independent contractors of the Company, or of any subsidiary corporation or parent corporation of the Company now existing or hereafter formed or acquired. Any person who shall have retired from active employment by the Company, including such person having entered into an independent contractor agreement with the Company shall also be eligible to receive an Option. 

VI. OPTIONS: PRICE AND PAYMENT

 

6.01  The purchase price for each Share purchasable pursuant to any Option shall be such amount as the Board of Directors shall determine to be appropriate. 

I.2

Upon the exercise of an Option, the Company shall cause the purchased Shares to be issued only when the Company shall have received the full and complete purchase price for such Shares.  Payment may include the receipt by the Company of a promissory note from the Participant exercising such Option by Participants that are not Directors and/or Officers of the Company.  

VII. USE OF PROCEEDS

 

The cash proceeds of the sale of Shares subject to Options are to be added to the general funds of the Company and used for the Company’s general corporate purposes, as the Board of Directors shall determine. 

VIII.  TERM OF OPTIONS AND LIMITATIONS

ON THE RIGHT OF EXERCISE

8.01  Any Option shall be exercisable at such times, in such amounts and during such period or periods as the Board of Directors shall determine at the date of the grant of such Option. 

8.02  Subject to the provisions of Article XVI of the Plan, the Board of Directors shall have the right to accelerate, in whole or in part, from time to time, conditionally or unconditionally, the right to exercise any Option. 

8.03 To the extent that an Option is not exercised within the period of exerciseability specified therein, such Option shall expire as to the then unexercised part. In no event shall an Option be exercisable for a fraction of a Share. 

IX. EXERCISE OF OPTIONS

 

Any Option shall be exercised by the Participant holding such Option as to all or part of the Shares contemplated by such Option by giving written notice of such exercise to the Secretary of the Company at the principal business office of the Company, such written notice must specify the number of Shares to be purchased and a business day not more than fifteen (15) days from the date such notice is given, for the payment of the purchase price against delivery of the Shares being purchased. Subject to the provisions of Article XVI of the Plan, the Company shall cause certificates for the Shares so purchased to be delivered to the Participant at the principal business office of the Company, in exchange for payment of the full and complete purchase price, on the date specified in the notice of exercise. 

 

X.  NONTRANSFERABILITY OF OPTIONS

AND STOCK APPRECIATION RIGHTS

No Option shall be transferable, whether by operation of law or otherwise, other than by will or the laws of descent and distribution, and any Option shall be exercisable, during the lifetime of a Participant, only by such Participant. 

 

XI. TERMINATION OF DIRECTORS, EMPLOYEES

 AND INDEPENDENT CONTRACTORS

11.01 Upon termination of the directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement of any Participant with the Company and all subsidiary corporations and parent corporations of the Company, any Option previously granted to the Participant, unless otherwise specified by the Board of Directors in the Option, shall, to the extent not theretofore exercised, terminate and become null and void, provided that: 

(a) 

if such Participant shall die while serving as a director, while in the employ of the Company or any such corporation, during the term of any independent contractor relationship or agreement, or during the term of any consulting relationship or agreement with the Company or any such corporation and at a time when such Participant was entitled to exercise an Option, the legal representative of such Participant, or such person who acquired such Option by bequest or inheritance or by reason of the death of such Participant, may, not later than six (6) months from the date of death, exercise such Option, to the extent not theretofore exercised, in respect of any or all of such number of Shares as specified by the Committee in such Option; and 

 

(b) 

if the directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement between the Company or any such corporation or any Participant to whom such Option shall have been granted shall terminate by reason of the Participant's retirement (at such age or upon such conditions as shall be specified by the Board of Directors), disability or dismissal by the Company or any such corporation other than “for cause” (as defined below), and while such Participant is entitled to exercise such Option, such Participant shall have the right to exercise such Option, to the extent not theretofore exercised, in respect of any or all of such number of Shares as specified by the Board of Directors in such Option, at any time up to and including (i) three (3) months after the date of such termination of directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement in the case of termination by reason of retirement or dismissal other than “for cause” and (ii) six (6) months after the date of termination of directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship agreement in the case of termination by reason of disability. 

In no event, however, shall any person be entitled to exercise any Option after the expiration of the period of exerciseability of such Option as specified therein. 

11.02  If a Participant voluntarily terminates his or her directorship, employment, term of any independent contractor relationship or agreement, or term of any consulting relationship or agreement with the Company and all subsidiary corporations and parent corporations of the Company, or is discharged “for cause”, any Option granted pursuant to the Plan shall, unless otherwise specified by the Board of Directors in such Option, forthwith terminate with respect to any unexercised portion thereof. 

11.03  If an Option shall be exercised by the legal representative of a deceased Participant, or by a person who acquired an Option by bequest or inheritance or by reason of the death of any Participant, written notice of such exercise shall be accompanied by a certified copy of letter testamentary or equivalent proof of the right of such legal representative or other person to exercise such Option. 

11.04  For the purposes of the Plan, the term “for cause” shall mean (i) with respect to an employee who is a party to a written agreement with, or, alternatively, participates in a compensation or benefit plan of the Company or a subsidiary corporation or parent corporation of the Company, which agreement or plan specifies a definition of “for cause” or “cause” (or words of similar meaning) for purposes of termination of employment pursuant thereto by the Company or such subsidiary corporation or parent corporation of the Company, “for cause” or “cause” as defined in the most recent of such agreements or plans; or (ii) in all other cases, as determined by the Board of Directors, in its sole discretion, (a) the willful commission by an employee or independent contractor of a criminal or other act that causes or probably will cause substantial economic damage to the Company or a subsidiary corporation or parent corporation of the Company or substantial injury or damage to the business reputation of the Company or a subsidiary corporation or parent corporation of the Company; (b) the commission by an employee or independent contractor of an act of fraud in the performance of such employee's or independent contractor’s duties on behalf of the Company or a subsidiary corporation or parent corporation of the Company; (c) the continuing willful failure of an employee or independent contractor to perform the duties of such employee or independent contractor to the Company or a subsidiary corporation or parent corporation of the Company (other than such failure resulting from the employee's or independent contractor's incapacity due to physical or mental illness) after written notice thereof (specifying the particulars thereof in reasonable detail) and a reasonable opportunity to be heard and cure such failure are given to the employee or independent contractor by the Board of Directors; or (d) the order of a court of competent jurisdiction requiring the termination of the employee's employment, or term of any independent contractor relationship or agreement, or term of any consulting relationship agreement. For purposes of the Plan, no act, or failure to act, by an employee or independent contractor shall be considered “willful” unless done or omitted to be done by the employee or independent contractor not in good faith and without reasonable belief that the employee's or independent contractor's action or omission was in the best interest of the Company or a subsidiary corporation or parent corporation of the Company.

11.05  For the purposes of the Plan, an employment relationship shall be deemed to exist between a person and a corporation if, at the time of the determination, such person was an “employee” of such corporation. If a person is on maternity, military, or sick leave or other bona fide leave of absence, such person shall be considered an “employee” for purposes of the exercise of an Option and shall be entitled to exercise such Option during such leave if the period of such leave does not exceed ninety (90) days, or, if longer, if such person’s right to reemployment with his or her employer is guaranteed either by statute or by contract. If the period of leave exceeds ninety (90) days, the employment relationship shall be deemed to have terminated on the ninety-first (91st) day of such leave, unless such person’s right to reemployment is guaranteed by statute or contract. 

11.06  An employee or independent contractor shall not be deemed terminated by reason of (i) the transfer of a Participant from the Company to a subsidiary corporation or a parent corporation of the Company or (ii) the transfer of a Participant from a subsidiary corporation or a parent corporation of the Company to the Company or by another subsidiary corporation or parent corporation of the Company. 

 

XII. ADJUSTMENT OF SHARES; EFFECT OF CERTAIN TRANSACTIONS

12.01  In the event of any change in the issued and outstanding Shares as a result of merger, consolidation, reorganization, recapitalization, stock dividend, stock split, split-up, split-off, spin-off, combination or exchange of shares, or other similar change in capital structure of the Company, an adjustment shall be made to each issued and outstanding Option such that each such Option shall thereafter be exercisable for such securities, cash or other property as would have been received in respect of the Shares subject to such Option had such Option been exercised in full immediately prior to such change, and such an adjustment shall be made successively each time any such change shall occur. The term “Shares” after any such change shall refer to the securities, cash or property then receivable upon exercise of an Option. In addition, in the event of any such change, the Board of Directors shall make any additional adjustment as may be appropriate to the maximum number of Shares subject to the Plan, the maximum number of Shares, if any, for which Options may be granted to any one employee or independent contractor, and the number of Shares and price per Share subject to outstanding Options as shall be appropriate to prevent dilution or enlargement of rights under such Options, and the determination of the Board of Directors as to these matters shall be conclusive. 

12.02  For purposes of the Plan, a “change in control” of the Company occurs if (i) any “person” (defined as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act, as amended) other than the current owner is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing ten percent (10%) or more of the combined voting power of the Company's outstanding securities then entitled to vote for the election of directors; or (ii) during any period of two consecutive years, persons who at the beginning of such period constitute the Board of Directors cease for any reason to constitute at least a majority thereof; or (iii) the Board of Directors shall approve the sale of all or substantially all of the assets of the Company or any merger, consolidation, issuance of securities or purchase of assets, the result of which would be the occurrence of any event described in clause (i) or (ii) above.

12.03  In the event of a change in control of the Company (defined above), the Board of Directors, in its discretion, may determine that, upon the occurrence of a transaction described in the preceding section, each Option issued and outstanding shall terminate within a specified number of days after notice to the holder, and such holder shall receive, with respect to each Share subject to such Option, an amount of cash equal to the excess of the fair market value of such Share immediately prior to the occurrence of such transaction increases the exercise price per Share of such Option. The provisions specified in the preceding sentence shall be inapplicable to an Option granted within six (6) months before the occurrence of a transaction described above, if the holder of such Option is a director or officer of the Company or a beneficial owner of the Company who is described in Section 16(a) of the Securities Exchange Act of 1934, unless such holder dies or becomes disabled prior to the expiration of such six-month period. Alternatively, the Board of Directors may determine, in its discretion, that all then issued and outstanding Options shall immediately become exercisable upon a change of control of the Company. 

XIII. RIGHT TO TERMINATE EMPLOYEES

 AND INDEPENDENT CONTRACTORS

The Plan shall not impose any obligation on the Company or on any subsidiary corporation or parent corporation of the Company to continue the retention of any Participant. The Plan shall not impose any obligation on the part of any Participant to remain in the employ of the Company or of any subsidiary corporation or parent corporation thereof. 

XIV. PURCHASE FOR INVESTMENT

Except as provided otherwise in the Plan, a Participant shall, upon any exercise of an Option, execute and deliver to the Company a written statement, in form satisfactory to the Company, in which such Participant represents and warrants that such Participant is purchasing or acquiring the Shares acquired pursuant thereto for such Participant's own account, for investment only and not with an intention of the resale or distribution thereof, and agrees that any subsequent offer for sale or sale or distribution of any of such Shares shall be made only pursuant to either (i) a Registration Statement on an appropriate form pursuant to the Securities Act of 1933, as amended (“Securities Act”), which Registration Statement has become effective and is current with regard to the Shares being offered or sold, or (ii) a specific exemption from the registration and prospectus delivery requirements of the Securities Act, but in claiming such exemption the holder shall, if so requested by the Company, prior to any offer for sale or sale of such Shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Company, from counsel for or approved by the Company, as to the applicability of such exemption thereto. The foregoing restriction shall not apply to (i) issuances by the Company if the Shares being issued are registered pursuant to the Securities Act and a prospectus relating thereto is current or (ii) reofferings of Shares by affiliates of the Company (as defined in Rule 405 or any successor rule or regulation promulgated pursuant to the Securities Act) if the Shares being reoffered are registered pursuant to the Securities Act and a prospectus relating thereto is current.

 

XV. ISSUANCE OF CERTIFICATES; LEGENDS

15.01  Upon any exercise of an Option and payment of the purchase price, a certificate or certificates for the Shares as to which such Option has been exercised shall be issued by or on behalf of the Company in the name of the person exercising such Option and shall be delivered to or upon the order of such person. 

15.02  The Company may endorse such legend or legends upon the certificates for Shares issued upon exercise of an Option and may issue such “stop transfer” instructions to its transfer agent in respect of such Shares as, in its discretion, the Company determines to be necessary or appropriate to (i) prevent a violation of, or to perfect an exemption from, the registration requirements of the Securities Act, or (ii) implement the provisions of the Plan and any agreement between the Company and the optionee with respect to such Shares. 

XVI. AMENDMENT OF THE PLAN

The Board of Directors may, from time to time, amend the Plan.  The rights and obligations pursuant to any Option granted before amendment of the Plan or any unexercised portion of such Option shall not be adversely affected by amendment of the Plan without the consent of the holder of such Option. 

XVII. TERMINATION OR SUSPENSION OF THE PLAN

The Board of Directors may at any time and for any or no reason suspend or terminate the Plan. The Plan, unless sooner terminated pursuant to Article III of the Plan or by action of the Board of Directors, shall terminate at the close of business on the Termination Date. An Option may not be granted while the Plan is suspended or after the Plan is terminated. Options granted while the Plan is in effect shall not be altered or impaired by suspension or termination of the Plan, except upon the consent of the person to whom such Option was granted. The power of the Board of Directors pursuant to Article IV of the Plan to construe and administer any Options granted prior to the termination or suspension of the Plan shall continue after such termination or during such suspension. 

XVIII. GOVERNING LAW

The Plan and all Options as may be granted pursuant thereto and all related matters shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, as from time to time amended.

XIX. PARTIAL INVALIDITY

The invalidity or illegality of any provision of the Plan shall not be deemed to affect the validity of any other provision of the Plan.    

As adopted by the Board of Directors on this 2nd day of November, 2007

                           

 MICRON ENVIRO SYSTEMS, INC.,

 a Nevada corporation

By: /s/ Bradley Rudman

       Bradley Rudman, President

2EX-10.1

FIFTH AMENDMENT TO CREDIT AGREEMENT

FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Fifth Amendment”), dated as of April 11,
2008, among STARWOOD HOTELS & RESORTS WORLDWIDE, INC., a Maryland corporation (the
“Corporation”), each additional Dollar Revolving Loan Borrower (as defined in the Credit
Agreement referred to below) from time to time party to the Credit Agreement, each additional
Alternate Currency Revolving Loan Borrower (as defined in the Credit Agreement) from time to time
party to the Credit Agreement, various lenders from time to time party to the Credit Agreement (the
“Lenders”) and DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent (in such capacity,
the “Administrative Agent”). Unless otherwise defined herein, all capitalized terms used
herein shall have the respective meanings provided such terms in the Credit Agreement referred to
below.

W I T N E S S E T H:

WHEREAS, the Borrowers, the Lenders, the Administrative Agent, JPMorgan Chase Bank, N.A. and
Société Générale, as Syndication Agents, Bank of America, N.A. and Calyon New York Branch, as
Documentation Agents, and Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. and Banc of
America Securities LLC, as Lead Arrangers and Book Running Managers, are parties to that certain
Credit Agreement, dated as of February 10, 2006 (as amended, modified and/or supplemented to, but
not including, the date hereof, the “Credit Agreement”);

WHEREAS, pursuant to the Third Amendment, the Designated 2007 Incremental RL Lenders provided
Designated 2007 Incremental RL Commitments in an aggregate amount equal to $375,000,000, all of
which shall terminate pursuant to the terms of this Fifth Amendment on the Fifth Amendment
Effective Date (as defined below); and

WHEREAS, subject to the terms and conditions of this Fifth Amendment, the Lenders and the
Borrowers wish to (x) amend certain provisions of the Credit Agreement and (y) enter into certain
agreements with respect to the Credit Agreement, in each case as herein provided;

	 	 	 
	
 
	 	NOW, THEREFORE, it is agreed:
	PART I.

	 	Acknowledgments, Agreements and Amendments.
	
 
	 	 

SECTION 1. Each Borrower, the Designated 2007 Incremental RL Lenders and the other
Lenders hereby agree that, notwithstanding anything to the contrary contained in Section 3.03(b) of
the Credit Agreement, (i) the Total Designated 2007 Incremental RL Commitment (and the Designated
2007 Incremental RL Commitment of each Designated 2007 Incremental RL Lender) shall terminate on
the Fifth Amendment Effective Date (concurrently with the occurrence thereof), (ii) the termination
of the Total Designated 2007 Incremental RL Commitment (and the Designated 2007 Incremental RL
Commitment of each Designated 2007 Incremental RL Lender) described above shall result in a
reduction to the Total Revolving Loan Commitment (or the Revolving Loan Commitment of the relevant
Designated 2007 Incremental RL Lender, as the case may be) in an amount equal to the Total
Designated 2007 Incremental RL Commitment (or the Designated 2007 Incremental RL Commitment of such
Designated 2007 Incremental RL Lender, as the case may be) so terminated (as the same was in effect
immediately prior to such termination), and (iii) upon the occurrence of the Fifth Amendment
Effective Date (including the actions required by clause (vii) of Section F of Part II of this
Fifth Amendment) and the terminations contemplated by this Section 1, the “Designated 2007
Incremental RL Commitment Termination Date” shall be deemed to have occurred for all purposes of
the Credit Agreement (including Section 3 of Part I of the Third Amendment).

SECTION 2. Section 1.01 of the Credit Agreement is hereby amended by inserting the
following new clause (e) immediately following clause (d) of said Section:

“(e) Subject to and upon the terms and conditions set forth herein, each Lender with a
Term Loan Commitment severally agrees to make, on the Fifth Amendment Effective Date, a term
loan or term loans (each, an “Term Loan” and, collectively, the “Term
Loans”) to the Corporation, which Term Loans (i) shall be made and maintained in
Dollars, (ii) shall be incurred and initially maintained as a single Borrowing of Base Rate
Loans or Eurodollar Loans (subject to the option to convert such Term Loans pursuant to
Section 1.07) and (iii) shall be made by each Lender with a Term Loan Commitment in that
initial aggregate principal amount as is equal to the Term Loan Commitment of such Lender on
the Fifth Amendment Effective Date (before giving effect to any reductions thereto on such
date pursuant to Section 3.03(e)). Once repaid, Term Loans incurred hereunder may not be
reborrowed.”.

SECTION 3. Section 1.02 of the Credit Agreement is hereby amended by (i) deleting the
text “and” appearing immediately prior to the text “(ii)” in the second sentence of said Section
and (ii) inserting the text “, and (iii) five Borrowings of Term Loans maintained as Eurodollar
Loans” immediately preceding the period at the end of said Section.

SECTION 4. Section 1.03(a) of the Credit Agreement is hereby amended by (i) deleting
clause (v) of the second sentence of said Section in its entirety and inserting the text “(v)
whether the Loans being incurred pursuant to such Borrowing shall constitute Term Loans or
Revolving Loans,” in lieu thereof, (ii) deleting the word “and” appearing prior to the text
“(viii)” in the second sentence of said Section, (iii) inserting the text “and (ix) in the case of
Dollar Revolving Loans and Term Loans, whether the Dollar Revolving Loans or Term Loans being
incurred pursuant to such Borrowing are to be initially maintained as Base Rate Loans or Eurodollar
Loans,” immediately preceding the period at the end of the second sentence appearing in said
Section, and (iv) deleting the last sentence appearing in said Section in its entirety and
inserting the following new sentence in lieu thereof:

“The Administrative Agent shall promptly give each Lender which is required to make Loans of
the Tranche specified in the respective Notice of Borrowing, notice of such proposed
Borrowing, of such Lender’s proportionate share thereof and of the other matters required by
the immediately preceding sentence to be specified in the Notice of Borrowing.”.

SECTION 5. Section 1.05 of the Credit Agreement is hereby amended by inserting the
text “with a Commitment under the respective Tranche” immediately preceding the text “will make
available its pro rata portion” appearing in the first sentence of said Section.

SECTION 6. Section 1.06(a) of the Credit Agreement is hereby amended by (i) deleting
the text “and” appearing immediately prior to the text “(ix)” in the first sentence of said Section
and (ii) inserting the following text immediately preceding the period at the end of the first
sentence of said Section:

“, and (x) if Term Loans, by a promissory note duly executed and delivered by the
Corporation substantially in the form of Exhibit C-10, with blanks appropriately completed
in conformity herewith (each, a “Term Note” and, collectively, the “Term
Notes”)”.

SECTION 7. Section 1.06 of the Credit Agreement is hereby further amended by (i)
deleting the text “contained above” appearing in the first sentence of clause (l) of said Section
and inserting the text “contained in this Section 1.06” in lieu thereof, (ii) inserting the text
“Term Notes,” immediately preceding the text “Revolving Notes” appearing in the first sentence of
clause (l) of said Section, (iii) inserting the text “of any Tranche” immediately following the
text “evidencing its Loans” appearing in the second sentence of clause (l) of said Section, (iv)
inserting the text “of any Tranche” immediately following the text “evidence its Loans” appearing
in the third sentence of clause (l) of said Section, and (v) inserting the following new clause (m)
immediately following clause (l) of said Section:

“(m) The Term Note issued by the Corporation to each Lender that has a Term Loan
Commitment or outstanding Term Loans shall (i) be executed by the Corporation, (ii) be
payable to the order of such Lender and be dated the Fifth Amendment Effective Date (or if
issued thereafter, the date of issuance), (iii) be in a stated principal amount equal to the
Term Loans made by such Lender on the Fifth Amendment Effective Date (or, if issued after
the Fifth Amendment Effective Date, be in a stated principal amount equal to the outstanding
principal amount of Term Loans owing to such Lender at such time) and be payable in Dollars
in the outstanding principal amount of Term Loans evidenced thereby, (iv) mature on the Term
Loan Maturity Date, (v) bear interest as provided in the appropriate clause of Section 1.09
in respect of the Base Rate Loans and Eurodollar Loans, as the case may be, evidenced
thereby, (vi) be subject to voluntary prepayment as provided in Section 4.01, and mandatory
repayment as provided in Section 4.02, and (vii) be entitled to the benefits of this
Agreement and the other Credit Documents.”.

SECTION 8. Section 1.07 of the Credit Agreement is hereby amended by deleting clause
(a) of said Section in its entirety and inserting the following new clause (a) in lieu thereof:

“(a) Each Dollar Borrower shall have the option to convert, on any Business Day, all or
a portion equal to at least the Minimum Borrowing Amount (for the Type of Loan into which
the conversion is being made), of the outstanding principal amount of Dollar Loans made to
such Dollar Borrower pursuant to one or more Borrowings (so long as of the same Tranche of
Loans) of one or more Types of Loans into a Borrowing (of the same Tranche of Loans) of
another Type of Loan, provided that, (i) Dollar Revolving Loans shall not be
permitted to be converted into Alternate Currency Revolving Loans, (ii) if Eurodollar Loans
are converted into Base Rate Loans on a date other than the last day of an Interest Period
applicable to the Loans being converted, the respective Dollar Borrower shall compensate the
applicable Lenders for any breakage costs incurred in connection therewith as set forth in
Section 1.12, (iii) no such partial conversion of Eurodollar Loans shall reduce the
outstanding principal amount of such Eurodollar Loans made pursuant to a single Borrowing to
less than the applicable Minimum Borrowing Amount for Eurodollar Loans of the respective
Tranche, (iv) unless the Required Lenders otherwise agree, Base Rate Loans may not be
converted into Eurodollar Loans if any Event of Default exists on the date of conversion,
and (v) no conversion pursuant to this Section 1.07 shall result in a greater number of
Borrowings of Eurodollar Loans than is permitted under Section 1.02. Each such conversion
shall be effected by the respective Dollar Borrower giving the Administrative Agent at the
Notice Office, prior to 12:00 Noon (New York time), at least three Business Days’ prior
notice (each, a “Notice of Conversion”) specifying the Loans to be so converted, the
Borrowing or Borrowings pursuant to which such Loans were made and, if to be converted into
Eurodollar Loans, the Interest Period to be initially applicable thereto. The
Administrative Agent shall give each Lender prompt notice of any such proposed conversion
affecting any of its Loans.”.

SECTION 9. Section 1.08 of the Credit Agreement is hereby amended by (i) deleting the
word “and” appearing immediately prior to the text “(ii)” in the first sentence of said Section and
inserting a comma in lieu thereof and (ii) inserting the following text immediately preceding the
period at the end of the first sentence of said Section:

“and (iii) each Borrowing of Term Loans under this Agreement shall be incurred from the Term
Loan Lenders pro rata on the basis of their Term Loan Commitments in effect
at the time of such Borrowing”.

SECTION 10. Section 1.09 of the Credit Agreement is hereby amended by deleting the
text “Revolving Loans maintained as Base Rate Loans” appearing in sub-clause (7) of clause (k) of
said Section and inserting the following text in lieu thereof:

“Base Rate Loans of the respective Tranche (or in the case of amounts which do not relate to
a given Tranche of outstanding Dollar Loans, 2% per annum in excess of the rate otherwise
applicable to Revolving Loans maintained as Base Rate Loans)”.

SECTION 11. Section 1.10 of the Credit Agreement is hereby amended by (i) deleting the
word “or” immediately preceding the text “(y) in the case of a Borrowing of Dollar Revolving Loans”
appearing in the first sentence of said Section and inserting a comma in lieu thereof, (ii)
inserting the text “, or (z) in the case of a Borrowing of Term Loans, a nine or twelve month
period if agreed to by each Lender participating in such Borrowing” immediately prior to the text
“, provided that” appearing in the first sentence of said Section, (iii) deleting the text
“Dollar Revolving Loans” each place such text appears in clause (ii) of the first sentence of said
Section and inserting the text ‘‘Dollar Loans” in lieu thereof and (iv) inserting the text “or, in
the case of a Borrowing of Term Loans, the Term Loan Maturity Date” immediately preceding the
period at the end of the first sentence of said Section.

SECTION 12. Section 1.11 of the Credit Agreement is hereby amended by deleting the
text “Dollar Revolving Loan Borrower” each place such text appears in said Section and inserting
the text ‘‘Dollar Borrower” in lieu thereof.

SECTION 13. Section 1.19(a) of the Credit Agreement is hereby amended by deleting the
text “750,000,000 (excluding, for avoidance of doubt, any Designated Incremental RL Commitments
provided hereunder and terminated pursuant to the Credit Agreement, the Second Amendment and/or the
Third Amendment)” appearing in clause (v) of said Section and inserting the text “750,000,000
(excluding, however, any Designated Incremental RL Commitments and/or Designated 2007 Incremental
RL Commitments provided hereunder and terminated pursuant to the Credit Agreement, the Second
Amendment, the Third Amendment and/or the Fifth Amendment) (it being understood that, as of the
Fifth Amendment Effective Date, up to an additional $375,000,000 of Incremental Revolving Loan
Commitments may be provided pursuant to this Section 1.19)” in lieu thereof.

SECTION 14. Section 1 of the Credit Agreement is hereby amended by inserting the
following new Section 1.20 at the end of said Section:

“Section 1.20. Term Loan Maturity Date Extension. The Corporation may, by a
written notice, which satisfies the Relevant Extension Requirements, delivered to the
Administrative Agent prior to (but not less than 30 days nor more than 90 days prior to)
April 11, 2010, request (pursuant to a single such request) that the Term Loan Maturity Date
then in effect be extended to February 10, 2011. So long as the Relevant Extension
Requirements are satisfied on April 11, 2010, the Term Loan Maturity Date as then in effect
shall be extended on such date to February 10, 2011 without any further consent of the
Lenders. The Administrative Agent shall notify each Lender of (i) its receipt of the notice
of extension described above and (ii) the effectiveness of any extension of the original
Term Loan Maturity Date.”.

SECTION 15. Section 3.01 of the Credit Agreement is hereby amended by inserting the
following new clause (h) immediately following clause (g) of said Section:

“(h) On the date of the extension of the Term Loan Maturity Date pursuant to Section
1.20, the Corporation agrees to pay to the Administrative Agent for the account of each
Lender with outstanding Term Loans on such date a non-refundable cash extension fee (the
“Extension Fee”) in an amount equal to 37.5 basis points (0.375%) of the aggregate
principal amount of all Term Loans made by each such Lender and outstanding on the such
date.”.

SECTION 16. Section 3.03 of the Credit Agreement is hereby amended by inserting the
following new clauses (e) and (f) immediately following clause (d) of said Section:

“(e) In addition to any other mandatory commitment reductions pursuant to this Section
3.03, the Total Term Loan Commitment (and the Term Loan Commitment of each Lender with such
a Commitment) shall terminate in its entirety on the Fifth Amendment Effective Date (after
giving effect to the making of Term Loans on such date).”.

SECTION 17. Section 4.01 of the Credit Agreement is hereby amended by (i) inserting
the text “Term Loans,” immediately preceding the text “Dollar Revolving Loans, Alternate Currency
Revolving Loans or Swingline Loans” appearing in clause (i) of said Section, (ii) inserting the
text “Term Loans and” immediately preceding the text “Dollar Revolving Loans maintained as Base
Rate Loans” appearing in clause (i) of said Section, and (iii) deleting the text “Dollar Revolving
Loans” appearing in clause (ii) of said Section and inserting the text ‘‘Dollar Loans” in lieu
thereof.

SECTION 18. Section 4.02 of the Credit Agreement is hereby amended by deleting clause
(b) of said Section in its entirety and inserting the following new clause (b) in lieu thereof:

“(b) With respect to each repayment of Loans required by this Section 4.02, the
respective Borrower may designate the Types of Loans of the respective Tranche which are to
be repaid and, in the case of Euro Rate Loans and Bankers’ Acceptance Loans, the specific
Borrowing or Borrowings of the respective Tranche pursuant to which made, provided
that: (i) in the case of repayments of Dollar Loans, repayments of Eurodollar Loans of the
respective Tranche pursuant to this Section 4.02 may only be made on the last day of an
Interest Period applicable thereto unless all Eurodollar Loans of the respective Tranche
with Interest Periods ending on such date of required repayment and all Base Rate Loans of
the respective Tranche have been paid in full; (ii) if any repayment of Euro Rate Loans made
pursuant to a single Borrowing shall reduce the outstanding Loans made pursuant to such
Borrowing to an amount less than the respective Minimum Borrowing Amount for the respective
Tranche and Type of Loan, such Borrowing (x) in the case of Dollar Loans, shall be converted
at the end of the then current Interest Period into a Borrowing of Base Rate Loans and (y)
in the case of Alternate Currency Revolving Loans, shall be repaid in full at the end of the
then current Interest Period; (iii) no repayment of Bankers’ Acceptance Loans may be made
prior to the maturity date of the related Bankers’ Acceptances; and (iv) each repayment of
any Loans made pursuant to a Borrowing shall be applied pro rata among such
Loans. In the absence of a designation by the respective Borrower as described in the
preceding sentence, the Administrative Agent shall, subject to the above, make such
designation in its sole discretion.”.

SECTION 19. Section 4.02 of the Credit Agreement is hereby further amended by
inserting the text “and all then outstanding Term Loans shall be repaid in full on the Term Loan
Maturity Date” immediately prior to the text “, (iv) unless the” appearing in clause (c) of said
Section.

SECTION 20. Section 7.03 of the Credit Agreement is hereby amended by inserting the
following new clause (f) immediately following clause (e) of said Section:

“(f) On and as of the Fifth Amendment Effective Date, the Updated 2008 Projections have
been prepared in good faith and are based on reasonable assumptions under the then known
facts and circumstances, and there are no statements or conclusions in any of the Updated
2008 Projections which are based upon or include information known to any Borrower to be
misleading in any material respect or which knowingly fail to take into account material
information regarding the matters reported therein; it being understood, however, that
nothing contained herein shall constitute a representation that the results forecasted in
such Updated 2008 Projections will in fact be achieved. On the Fifth Amendment Effective
Date, each Borrower believes that the Updated 2008 Projections are reasonable and attainable
based upon the then known facts and circumstances, it being understood that nothing
contained herein shall constitute a representation that the results forecasted in such
Updated 2008 Projections will in fact be achieved.”.

SECTION 21. Section 7.06 of the Credit Agreement is hereby amended by inserting the
following new clause (d) immediately following clause (c) of said Section:

“(d) All proceeds of the Term Loans will be used by the Corporation (i) to prepay
Revolving Loans pursuant to, and in accordance with the requirements of, Section 4.01, (ii)
to pay the fees and expenses incurred in connection with the entering into of the Fifth
Amendment and the incurrence of the Term Loans on the Fifth Amendment Effective Date, and
(iii) for other general corporate purposes.”.

SECTION 22. The definition of “Applicable Margin” appearing in Section 11.01
of the Credit Agreement is hereby amended by (i) inserting the text “Tranche and” immediately
following the text “percentage per annum set forth below under the respective” appearing in said
definition and (ii) deleting the table appearing in said definition in its entirety and inserting
the following new table in lieu thereof:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ratings-Based

Level

	 	Unsecured Debt Rating
	 	Leverage-Based Level
	 	Consolidated

Leverage Ratio
	 	“Applicable Margin”

for Term Loans

maintained as

Eurodollar Loans
	 	“Applicable Margin”

for Revolving Loans

maintained as Euro

Rate Loans
	 	“Applicable Margin”

for Base Rate and

Canadian Prime Rate

Loans
	 	

“Applicable Margin”

for Facility Fee
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	1

	 	BBB+ or higher from

S&P and Baa1 or

higher from Moody’s
	 	

I
	 	

Less than 2.25:1.0
	 	

0.450%
	 	

0.370%
	 	

0.0%
	 	

0.080%
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	2

	 	Ratings-Based Level

1 is not applicable

and ratings of BBB

or higher from S&P

and Baa2 or higher

from Moody’s
	 	

II
	 	

Greater than or

equal to 2.25:1.0

and less than

3.00:1.0
	 	

0.500%
	 	

0.400%
	 	

0.0%
	 	

0.100%
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	3

	 	Ratings-Based Levels

1 and 2 are not

applicable and

ratings of BBB- or

higher from S&P and

Baa3 or higher from

Moody’s
	 	

III
	 	

Greater than or

equal to 3.00:1.0

and less than

3.75:1.0
	 	

0.625%
	 	

0.500%
	 	

0.0%
	 	

0.125%
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	4

	 	Ratings-Based Levels

1, 2 and 3 are not

applicable and

ratings of BB+ or

higher from S&P and

Ba1 or higher from

Moody’s
	 	

IV
	 	

Greater than or

equal to 3.75:1.0

and less than

4.25:1.0
	 	

0.750%
	 	

0.600%
	 	

0.0%
	 	

0.150%
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	5

	 	Ratings-Based Levels

1, 2, 3 and 4 are

not applicable
	 	

V
	 	

Greater than or

equal to 4.25:1.0
	 	

1.000%
	 	

0.800%
	 	

0.0%
	 	

0.200%
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

SECTION 23. The definition of “Available Currency” appearing in Section
11.01 of the Credit Agreement is hereby amended by inserting the text “Term Loans,” immediately
preceding the text “Dollar Revolving Loans” appearing in said definition.

SECTION 24. The definition of “Base Rate Loan” appearing in Section 11.01 of
the Credit Agreement is hereby amended by deleting the text “Dollar Revolving Loan” appearing in
said definition and inserting the text ‘‘Dollar Loan” in lieu thereof.

SECTION 25. The definition of “Borrower” appearing in Section 11.01 of the
Credit Agreement is hereby amended by deleting the text “Dollar Revolving Loan Borrower” appearing
in said definition and inserting the text ‘‘Dollar Borrower” in lieu thereof.

SECTION 26. The definition of “Business Day” appearing in Section 11.01 of the
Credit Agreement is hereby amended by (i) deleting the text “clause (ii)” appearing in said
definition and inserting the text “clause (ii) or (iii)” in lieu thereof, (ii) redesignating clause
(ii) of said definition as clause (iii) of said definition and (iii) inserting the following new
clause (ii) immediately after the text “government action to close” appearing in said definition:

“, (ii) with respect to all notices and determinations in connection with, and payments of
principal and interest on, Eurodollar Loans, any day which is a Business Day described in
clause (i) above and which is also a day for trading by and between banks in Dollar deposits
in the interbank eurodollar market”.

SECTION 27. The definition of “Dollar Loan” appearing in Section 11.01 of the
Credit Agreement is hereby amended by inserting the text “each Term Loan,” immediately preceding
the text “each Dollar Revolving Loan” appearing in said definition.

SECTION 28. The definition of “DRLB Guarantor” appearing in Section 11.01 of
the Credit Agreement is hereby amended by deleting the text “Dollar Revolving Loan Borrower”
appearing in said definition and inserting the text “Dollar Borrower” in lieu thereof.

SECTION 29. The definition of “Loan” appearing in Section 11.01 of the Credit
Agreement is hereby amended by inserting the text “each Term Loan,” immediately preceding the text
“each Revolving Loan” appearing in said definition.

SECTION 30. The definition of “Minimum Borrowing Amount” appearing in Section
11.01 of the Credit Agreement is hereby amended by deleting clauses (i) and (ii) of said definition
and inserting the following new clauses (i) and (ii) in lieu thereof:

“(i) in the case of a Borrowing of Term Loans or Revolving Loans to be maintained as
Euro Rate Loans, $10,000,000 (or the applicable Alternate Currency Equivalent thereof, in
the case of a Borrowing of Alternate Currency Revolving Loans);

(ii) in the case of a Borrowing of Term Loans or Revolving Loans to be maintained as
Base Rate Loans, $10,000,000;”.

SECTION 31. The definition of “Note” appearing in Section 11.01 of the Credit
Agreement is hereby amended by inserting the text “each Term Note,” immediately preceding the text
“each Revolving Note” appearing in said definition.

SECTION 32. The definition of “Payment Office” appearing in Section 11.01 of
the Credit Agreement is hereby amended by deleting the text “Dollar Revolving Loans, Swingline
Loans” appearing in said definition and inserting the text ‘‘Dollar Loans” in lieu thereof.

SECTION 33. Section 11.01 of the Credit Agreement is further hereby amended by (i)
deleting the definitions of “Borrowing”, “Commitments”, “Eurodollar Loan”,
Required Lenders” and “Tranche” appearing in said Section and (ii) inserting the
following new definitions in appropriate alphabetical order:

“Borrowing” shall mean (i) the borrowing by a Borrower of one Type of Loan of a
single Tranche (other than Swingline Loans) from all the Lenders having Commitments of the
respective Tranche (or, in the case of an Alternate Currency Revolving Loan of a given Type,
from all Alternate Currency RL Lenders having Alternate Currency Revolving Loan
Sub-Commitments under the relevant Alternate Currency Revolving Loan Sub-Tranche) on a given
date (or resulting from a conversion or conversions on such date) and having, in the case of
Euro Rate Loans, the same Interest Period, provided that Base Rate Loans incurred
pursuant to Section 1.11(b) shall be considered part of the related Borrowing of Eurodollar
Loans, (ii) the borrowing by the Corporation of Swingline Loans from the Swingline Lender,
and (iii) a Competitive Bid Borrowing.

“Commitments” shall mean (i) with respect to any RL Lender, at any time, the
Revolving Loan Commitment of such Lender at such time and, unless the context otherwise
requires, any related Sub-Commitment and/or Designated 2007 Incremental RL Commitment of
such Lender at such time and (ii) with respect to any Term Loan Lender, at any time, the
Term Loan Commitment of such Lender at such time.

“Dollar Borrower” shall mean (i) the Corporation and (ii) each other Dollar
Revolving Loan Borrower.

“Eurodollar Loan” shall mean each Dollar Loan (bearing interest at the
Eurodollar Rate) designated as such by the respective Dollar Borrower at the time of the
incurrence thereof or conversion thereto.

“Extension Fee” shall have the meaning provided in Section 3.01(h).

“Fifth Amendment” shall mean the Fifth Amendment to Credit Agreement, dated as
of April 11, 2008.

“Fifth Amendment Effective Date” shall have the meaning provided in the Fifth
Amendment.

“Relevant Extension Requirements” shall mean, with respect to the delivery of
the notice pursuant to Section 1.20 or the extension of the original Term Loan Maturity Date
pursuant to Section 1.20, the satisfaction of each of the following conditions: (i) no
Default or Event of Default shall have occurred and be continuing, on the date of such
notice or both before and after giving effect to such extension, as the case may be, (ii)
all representations and warranties contained herein and in the other Credit Documents shall
be true and correct in all material respects with the same effect as though such
representations and warranties had been made on and as of the date of such notice or both
before and after giving effect to such extension, as the case may be, unless stated to
relate to a specific earlier date, in which case such representations and warranties shall
be true and correct in all material respects as of such earlier date, (iii) with respect to
the extension of the original Term Loan Maturity Date pursuant to Section 1.20 only, the
Corporation shall have paid to each Lender the Extension Fee owed to such Lender pursuant to
Section 3.01(h), and (iv) an Authorized Officer of the Corporation shall have delivered to
the Administrative Agent an officer’s certificate certifying as to compliance with preceding
clauses (i), (ii) and (iii) (in each case, to the extent applicable).

“Required Lenders” shall mean, at any time, Non-Defaulting Lenders the sum of
whose outstanding Term Loans (and, prior to the termination thereof, Term Loan Commitments)
and Revolving Loan Commitments at such time (or, after the termination thereof, outstanding
Revolving Loans and Competitive Bid Loans and participations in Letter of Credit
Outstandings and outstanding Swingline Loans) represent an amount greater than 50% of the
sum of (x) all outstanding Term Loans (and, if prior to the termination thereof, Term Loan
Commitments) of Non-Defaulting Lenders plus (y) the Total Revolving Loan Commitment
at such time less the Revolving Loan Commitments of Defaulting Lenders at such time
(or, after the termination of the Total Revolving Loan Commitment, the sum of the then total
outstanding Revolving Loans and Competitive Bid Loans of Non-Defaulting Lenders, and the
aggregate participations of all Non-Defaulting Lenders of Letter of Credit Outstandings and
outstanding Swingline Loans at such time). For purposes of determining Required Lenders,
all outstanding Loans and Commitments, as the case may be, that are denominated in Dollars
will be calculated in Dollars and all Loans denominated in an Alternate Currency will be
calculated according to the Dollar Equivalent thereof.

“Term Loan” shall have the meaning provided in Section 1.01(e).

“Term Loan Commitment” shall mean, for each Lender, the amount set forth
opposite such Lender’s name in Schedule I-A (as amended by the Fifth Amendment) directly
below the column entitled “Term Loan Commitment,” as the same may be terminated pursuant to
Sections 3.03 and/or 10.

“Term Loan Lender” shall mean, at any time, each Lender with a Term Loan
Commitment or with outstanding Term Loans at such time.

“Term Loan Maturity Date” shall mean April 11, 2010, as such date may be
extended pursuant to Section 1.20.

“Term Note” shall have the meaning provided in Section 1.06(a).

“Total Term Loan Commitment” shall mean, at any time, the sum of the Term Loan
Commitments of each of the Lenders at such time.

“Tranche” shall mean the respective facility and commitments utilized in making
Loans hereunder, with there being three separate Tranches, i.e., Term Loans,
Revolving Loans and Swingline Loans.

“Updated 2008 Projections” shall mean the projections for the Corporation and
its Subsidiaries for the period from the Fifth Amendment Effective Date through December 31,
2010 that were included in the Confidential Information Memorandum delivered to the Lenders
at the Lenders’ presentation held on March 13, 2008.

SECTION 34. Section 13.04 of the Credit Agreement is hereby amended by (i) inserting
the text “(or, in the case of any Term Loan or Term Note, the Term Loan Maturity Date (as the same
may be extended as provided in Section 1.20))” immediately following the text “Maturity Date”
appearing in sub-clause (i) of the third proviso of clause (a) of said Section, (ii) inserting the
text “(or outstanding Term Loans, as the case may be)” immediately following the text “reflect the
Commitments” appearing in sub-clause (iv) of the second proviso to the first sentence of clause (b)
of said Section, and (iii) inserting the text “or outstanding Term Loans, as the case may be”
immediately following the text “the revised Commitments (and Sub-Commitments)” appearing in
sub-clause (v) of the second proviso to the first sentence of clause (b) of said Section.

SECTION 35. Section 13.12 of the Credit Agreement is hereby amended by inserting the
text “(except as a result of the extension of the Term Loan Maturity Date as provided in Section
1.20)” immediately following the text “extend the final maturity of any Loan or Note” appearing in
sub-clause (i) of the first proviso to clause (a) of said Section.

SECTION 36. Section 14.10 of the Credit Agreement is hereby amended by (i) deleting
the text “Dollar Revolving Loan Borrowers” appearing in said Section and inserting the text
‘‘Dollar Borrowers” in lieu thereof and (ii) deleting the text “Dollar Revolving Loan Borrower”
appearing in said Section and inserting the text “Dollar Borrower” in lieu thereof.

SECTION 37. Exhibit A to the Credit Agreement is hereby amended by (i) deleting the
text “Dollar Revolving Loans” appearing in clause (iv) of said Exhibit and inserting the text
“[Dollar Revolving Loans][Term Loans]” in lieu thereof, (ii) inserting the text “[one week]”
immediately prior to the text “[one]” appearing in clause (v) of said Exhibit, (iii) inserting the
text “[nine][twelve]” immediately after the text “[six]” appearing in clause (v) of said Exhibit,
(iv) inserting the text “or Term Loans” immediately following the text “Dollar Revolving Loans”
appearing in footnote 4 of said Exhibit, and (v) inserting the text “See Section 1.10 of
the Credit Agreement, which limits the availability of a one-week, nine month and twelve month
Interest Periods under the circumstances described therein.” immediately following the period (“.”)
appearing in footnote 5 of said Exhibit.

SECTION 38. The Credit Agreement is hereby further amended by adding thereto Exhibit
C-10 in the form of Exhibit C-10 attached hereto.

SECTION 39. Exhibit K to the Credit Agreement is hereby amended by deleting the same
in its entirety and inserting in lieu thereof new Exhibit K in the form of Exhibit K attached
hereto.

SECTION 40. Immediately after giving effect to the provisions of Section 1 of Part I
of this Fifth Amendment, Schedule I-A to the Credit Agreement is hereby amended by deleting the
same in its entirety and inserting new Schedule I-A in the form of Schedule I-A attached hereto.

SECTION 41. Schedule III to the Credit Agreement is hereby amended by deleting the
text “Revolving Loan Maturity Date” appearing in said Section and inserting the text “Maturity
Date” in lieu thereof.

SECTION 42. Each Term Loan Lender, by its execution of this Amendment, hereby (i)
appoints and authorizes the Administrative Agent and each Syndication Agent to take such action as
agent on its behalf and to exercise such powers under the Credit Agreement (as amended hereby) and
the other Credit Documents as are delegated to the Administrative Agent or such Syndication Agent,
as the case may be, by the terms thereof, together with such powers as are reasonably incidental
thereto, (ii) agrees that it will perform in accordance with their terms all of the obligations
which by the terms of the Credit Agreement (as amended hereby) and the other Credit Documents are
required to be performed by it as a Term Loan Lender and (iii) to the extent that such Term Loan
Lender is not already a Lender under the Credit Agreement and is not a United States person (as
such term is defined in Section 7701(a)(30) of the Code) for Federal income tax purposes and is
legally entitled to do so, agrees to deliver to the Corporation the forms described in Section
13.04(b) of the Credit Agreement (as if it were an assignee of Loans).

SECTION 43. Notwithstanding anything to the contrary contained in Section 12.01 of the
Credit Agreement, the parties hereto agree that (x) DB shall act as sole lead arranger and sole
book running manager (in such capacities, the “TL Lead Arranger”), (y) Bank of America,
N.A. shall act as syndication agent (in such capacity, the “TL Syndication Agent”) and (z)
JPMorgan Chase Bank, N.A., The Royal Bank of Scotland, plc and The Bank of Nova Scotia shall act as
co-documentation agents (in such capacity, collectively, the “TL Co-Documentation Agents”
and, together with the TL Lead Arranger and the TL Syndication Agent, the “Term Loan
Agents”), in each case with respect to the Term Loans made available under the Credit Agreement
(as amended hereby). Each of the Term Loan Agents are named as such for recognition purposes only,
and in their respective capacities as such shall have no powers, duties, responsibilities or
liabilities with respect to this Amendment, the Credit Agreement or the other Credit Documents or
the transactions contemplated hereby and thereby. Without limitation of the foregoing, none of the
Term Loan Agents shall, solely by reason of this Amendment, the Credit Agreement (as modified
hereby) or any other Credit Document, have any fiduciary relationship in respect of any Lender or
any other Person.

PART II. Miscellaneous Provisions.

A. Each Guarantor, by its signature below, hereby confirms that (i) its Guaranty shall remain
in full force and effect and (ii) its Guaranty covers the obligations of each of the Borrowers
under the Credit Agreement (as modified by this Fifth Amendment), including the Term Loans but
excluding the direct primary obligations of such Guarantor in its capacity as a Borrower.

B. In order to induce the Lenders to enter into this Fifth Amendment, the Corporation
represents and warrants to the Lenders that, on the Fifth Amendment Effective Date, before, as of
and after giving effect to the execution, delivery and performance by the Corporation of this Fifth
Amendment and the transactions contemplated hereby, (i) there shall exist no Default or Event of
Default and (ii) all representations and warranties contained in the Credit Agreement and in the
other Credit Documents are true and correct in all material respects with the same effect as though
such representations and warranties had been made on the Fifth Amendment Effective Date (it being
understood and agreed that any representation or warranty which by its terms is made as of a
specified date shall be true and correct in all material respects only as of such specified date).

C. This Fifth Amendment is limited as specified and shall not constitute a modification,
acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document.

D. This Fifth Amendment may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the Corporation and the Administrative Agent.

E. THIS FIFTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

F. This Fifth Amendment shall become effective on the date (the “Fifth Amendment Effective
Date”) when each of the following conditions have been satisfied:

(i) there shall have been delivered to the Administrative Agent for the account of each
of the Term Loan Lenders (subject to Section 1.06(l)) the appropriate Term Notes executed by
the Corporation, in each case in the amount, maturity and as otherwise provided in the
Credit Agreement (as amended by this Fifth Amendment);

(ii) the Administrative Agent shall have received from the Corporation and each other
DRLB Guarantor certified copies of resolutions of the Board of Directors (or equivalent
managing body) of such Credit Party with respect to the matters set forth in this Fifth
Amendment (including the incurrence of the Term Loans), and such resolutions shall be
satisfactory to the Administrative Agent;

(iii) the Administrative Agent shall have received from (i) Weil Gotshal & Manges LLP,
special counsel to the Credit Parties, an opinion addressed to the Administrative Agent and
each of the Lenders and dated the Fifth Amendment Effective Date in form and substance
reasonably satisfactory to the Administrative Agent, and (ii) Venable LLP, special Maryland
counsel to the Corporation, an opinion addressed to the Administrative and each of the
Lenders and dated the Fifth Amendment Effective Date in form and substance reasonably
satisfactory to the Administrative Agent;

(iv) the Administrative Agent shall have received all information and copies of all
documents and papers, including records of corporate proceedings, governmental approvals and
good standing certificates if any, which the Administrative Agent reasonably may have
requested in connection therewith, such documents and papers where appropriate to be
certified by proper corporate or governmental authorities;

(v) the Administrative Agent shall have received a solvency certificate from the chief
financial officer or treasurer of the Corporation in form and substance satisfactory to the
Administrative Agent, addressed to the Administrative Agent and the Lenders and dated the
Fifth Amendment Effective, setting forth the conclusions that, after giving effect to the
transactions contemplated by this Fifth Amendment, the Corporation and its Subsidiaries,
taken as a whole, are not insolvent and will not be rendered insolvent by the indebtedness
incurred in connection therewith, will not be left with unreasonably small capital with
which to engage in their business and will not have incurred debts beyond their ability to
pay debts as they mature;

(vi) the Borrowers shall have taken all actions required by Section 3.03(d) of the
Credit Agreement in connection with the termination of the Total Designated 2007 Incremental
RL Commitment (and the Designated 2007 Incremental RL Commitment of each Designated 2007
Incremental RL Lender) pursuant to Section 1 of Part I of this Fifth Amendment (on the same
basis as if such termination had occurred pursuant to Section 3.03(b) of the Credit
Agreement);

(vii) the Corporation shall have paid (or caused to be paid) to the Agents and the
Lenders all fees, costs and expenses (including, without limitation, legal fees and
expenses) payable to the Agents and the Lenders to the extent then due; and

(viii) each Borrower, each Guarantor, each Lender with a Term loan Commitment and
Lenders constituting the Required Lenders shall have signed a counterpart hereof (whether
the same or different counterparts) and shall have delivered (including by way of facsimile
transmission) the same to the Administrative Agent (or its designee).

The Administrative Agent shall promptly deliver notice to the Corporation of the occurrence of the
Fifth Amendment Effective Date.

G. From and after the Fifth Amendment Effective Date, all references in the Credit Agreement
and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement as modified by this Fifth Amendment on the Fifth Amendment Effective Date.
This Fifth Amendment shall constitute a Credit Document for all purposes under the Credit Agreement
and the other Credit Documents.

[Signatures appear on the following page.]

1

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to
execute and deliver this Fifth Amendment as of the date first above written.

	 
	STARWOOD HOTELS & RESORTS WORLDWIDE, INC., as a Borrower and

Guarantor

By:

	Name:

	Title:

	STARWOOD CANADA CORP., as an Alternate Currency Revolving Loan Borrower

By:

	Name:

	Title:

	CLOCKTOWER HOTEL LIMITED PARTNERSHIP, as an Alternate Currency Revolving Loan

Borrower

By: STARWOOD CANADA ULC, its General Partner

By:

	Name:

	Title:

	STARWOOD CANADA FINANCE LP, as a Dollar Revolving Loan Borrower

By:

	Name:

	Title:

2

	 
	SHERATON HOTELS (U.K.) PLC, as an Alternate Currency Revolving Loan Borrower

By:

	Name:

	Title:

	SHERATON ON THE PARK PTY LIMITED (ABN 14 003 366 550), as an Alternate Currency

Revolving Loan Borrower

By:

	Name:

	Title:

3

	 
	STARWOOD (M) FRANCE HOLDINGS SAS, as an Alternate Currency Revolving Loan

Borrower

By:

	Name:

	Title:

4

	 
	DEUTSCHE BANK AG NEW YORK BRANCH,

Individually and as Administrative Agent

By:

	 

	Name:

	Title:

	By:

	 

	Name:

	Title:

5

SIGNATURE PAGE TO THE FIFTH AMENDMENT, DATED AS OF THE
DATE FIRST WRITTEN ABOVE, TO THAT CERTAIN CREDIT
AGREEMENT, DATED AS OF FEBRUARY 10, 2006, AMONG STARWOOD
HOTELS & RESORTS WORLDWIDE, INC., EACH ADDITIONAL DOLLAR
REVOLVING LOAN BORROWER, EACH ADDITIONAL ALTERNATE
CURRENCY REVOLVING LOAN BORROWER, THE VARIOUS LENDERS
PARTY THERETO, DEUTSCHE BANK AG NEW YORK BRANCH, AS
ADMINISTRATIVE AGENT, JPMORGAN CHASE BANK, N.A. AND
SOCIETE GENERALE, AS SYNDICATION AGENTS, BANK OF AMERICA,
N.A. AND CALYON NEW YORK BRANCH, AS DOCUMENTATION AGENTS,
AND DEUTSCHE BANK SECURITIES INC., J.P. MORGAN SECURITIES
INC. AND BANC OF AMERICA SECURITIES LLC, AS LEAD
ARRANGERS AND BOOK RUNNING MANAGERS

NAME OF INSTITUTION:

	 	 	 	     

	 	 	 	By:
     

Name:

	 	 	 	Title:

6

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