Document:

EX-10(a)(ii)

Exhibit 10(a)(ii)

H. J. HEINZ COMPANY

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(as amended and restated effective November 12, 2008)

 

 

H. J. HEINZ COMPANY

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(as amended and restated effective November 12, 2008)

Table of Contents

	 	 	 	 	 
	 	 	Page
	ARTICLE 1 
	 	 	1	 
	Definitions 
	 	 	1	 
	Section 1.1. Account 
	 	 	1	 
	Section 1.2. Actuarial Equivalent Value 
	 	 	1	 
	Section 1.3. Affiliate 
	 	 	1	 
	Section 1.4. Board 
	 	 	1	 
	Section 1.5. Code 
	 	 	1	 
	Section 1.6. Company 
	 	 	1	 
	Section 1.7. Compensation 
	 	 	1	 
	Section 1.8. Continuous Service 
	 	 	2	 
	Section 1.9. Deferred Compensation Program 
	 	 	2	 
	Section 1.10. EBAB 
	 	 	2	 
	Section 1.11. Employee 
	 	 	2	 
	Section 1.12. Employer 
	 	 	2	 
	Section 1.13. Excess Plan 
	 	 	2	 
	Section 1.14. Final Average Compensation 
	 	 	2	 
	Section 1.15. Interest Credit 
	 	 	2	 
	Section 1.16. Key Employee 
	 	 	2	 
	Section 1.17. MIP 
	 	 	3	 
	Section 1.18. Member 
	 	 	3	 
	Section 1.19 Office of the Chairman 
	 	 	3	 
	Section 1.20. Pay Credit 
	 	 	3	 
	Section 1.21. Plan 
	 	 	3	 
	Section 1.22. Plan A 
	 	 	3	 
	Section 1.23. Plan A Benefit 
	 	 	3	 
	Section 1.24. Plan Year 
	 	 	3	 
	Section 1.25. Release 
	 	 	4	 
	Section 1.26. RSP 
	 	 	4	 
	Section 1.27. RSP Company Account Benefit 
	 	 	4	 
	Section 1.28. Restricted Stock Unit 
	 	 	4	 
	Section 1.29. Separation from Service 
	 	 	5	 
	Section 1.30. Spouse 
	 	 	5	 
	Section 1.31. Stock Incentive Plan 
	 	 	5	 
	Section 1.32. Total Cash Band 
	 	 	5	 
	ARTICLE 2 
	 	 	6	 
	Participation and Eligibility for Benefits 
	 	 	6	 
	Section 2.1. Participation 
	 	 	6	 

 

 

	 	 	 	 	 
	 	 	Page
	Section 2.2. Eligibility for Benefits 
	 	 	6	 
	Section 2.3. Death 
	 	 	7	 
	ARTICLE 3 
	 	 	8	 
	Benefits 
	 	 	8	 
	Section 3.1. Amount of Benefits 
	 	 	8	 
	Section 3.2. Payment of Benefits 
	 	 	10	 
	Section 3.3. Benefits in Cases of Reemployment 
	 	 	11	 
	ARTICLE 4 
	 	 	12	 
	Administration 
	 	 	12	 
	Section 4.1. EBAB 
	 	 	12	 
	Section 4.2. Powers 
	 	 	12	 
	Section 4.3. Quorum and EBAB Actions 
	 	 	13	 
	Section 4.4. Liability Insurance and Indemnification 
	 	 	13	 
	Section 4.5. Facility of Payment 
	 	 	13	 
	Section 4.6. Expenses 
	 	 	13	 
	ARTICLE 5 
	 	 	14	 
	Amendment and Termination 
	 	 	14	 
	Section 5.1. Right to Amend or Terminate 
	 	 	14	 
	Section 5.2. Termination Procedures 
	 	 	14	 
	ARTICLE 6 
	 	 	15	 
	Miscellaneous 
	 	 	15	 
	Section 6.1. Headings 
	 	 	15	 
	Section 6.2. Source of Payment 
	 	 	15	 
	Section 6.3. Authorization for Trust 
	 	 	15	 
	Section 6.4. No Employment Rights 
	 	 	15	 
	Section 6.5. Benefits Not Assignable 
	 	 	15	 
	Section 6.6. Laws Applicable 
	 	 	15	 
	Section 6.7. Number and Gender 
	 	 	16	 
	Section 6.8. Compliance with Code Section 409A 
	 	 	16	 
	ARTICLE 7 
	 	 	17	 
	Claims Procedure 
	 	 	17	 
	Section 7.1. Disposition of Claim 
	 	 	17	 
	Section 7.2. Appeals 
	 	 	17	 
	Section 7.3. EBAB Decision Final 
	 	 	17	 
	EXHIBIT A 
	 	 	18	 
	PAST SERVICE BENEFIT BASED ON SERVICE AND 
	 	 	18	 
	FINAL AVERAGE COMPENSATION (FAC) 
	 	 	18	 
	APPENDIX I 
	 	 	19	 
	CEO ADDITIONAL BENEFIT 
	 	 	19	 
	APPENDIX II 
	 	 	21	 
	HUBINGER BENEFIT 
	 	 	21	 
	APPENDIX III 
	 	 	22	 
	SPECIAL ENHANCEMENTS 
	 	 	22	 

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H. J. HEINZ COMPANY

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(as amended and restated effective November 12, 2008)

     H. J. HEINZ COMPANY, a Pennsylvania corporation with its principal offices at Pittsburgh,
Pennsylvania, in order to compensate executive employees for retirement benefits which cannot be
paid under the Company’s qualified plans because of statutory limitations and to aid in the
recruitment and retention of such employees, adopted this Supplemental Executive Retirement Plan
effective May 1, 1989. The Plan has been amended from time to time thereafter and is hereby amended
and restated, with all changes to be effective September 1, 2007. This restatement applies to
Members who terminate employment on or after the applicable effective date. Benefits with respect
to any Member who terminated employment before the applicable effective date shall be governed by
the prior provisions of the Plan as in effect at the relevant time, except as otherwise
specifically stated elsewhere herein. Benefits accruing or vesting under the Plan after December
31, 2004 are subject to the provisions of Code section 409A. Benefits that accrued and vested
before January 1, 2005 are not subject to Code section 409A unless the provisions of the Plan
relating to such amounts are materially modified after October 3, 2004.

 

 

ARTICLE 1

Definitions

     Unless otherwise required by the context, capitalized terms used herein shall have the
meanings set forth in this Article 1. Any capitalized term not specifically defined herein shall
have the meaning set forth in Plan A.

     Section 1.1. Account shall mean the unfunded bookkeeping account maintained
under the Plan for each Member to record the amount of the Member’s cash balance accrual for
periods after April 30, 2004.

     Section 1.2. Actuarial Equivalent Value shall mean the “Lump Sum Value” as
defined in Plan A.

     Section 1.3. Affiliate shall mean H. J. Heinz Finance Company and any
corporation, partnership, trust, or sole proprietorship, whether domestic or foreign, which is
affiliated with the Company through direct or indirect ownership of greater than fifty percent
(50%) of the voting and equity interests therein.

     Section 1.4. Board shall mean the Board of Directors of the Company.

     Section 1.5. Code shall mean the Internal Revenue Code of 1986, as amended
from time to time.

     Section 1.6. Company shall mean H. J. Heinz Company, a Pennsylvania
corporation, or any successor thereto.

     Section 1.7. Compensation shall mean “Eligible Earnings” as defined in the RSP
modified as follows:

     (a) Compensation shall include amounts excluded from “Eligible Earnings” under the terms of
the RSP implementing the limitation of Code section 401(a)(17).

     (b) Amounts excluded from “Eligible Earnings” under the terms of the RSP by reason of an
Employee election to defer such amounts under a Deferred Compensation Program shall be included as
Compensation for the period in which such amounts would have been received but for the deferral,
but shall not be included when actually paid to the Member.

 

 

     (c) Compensation shall include the fair market value, as determined pursuant to the Stock
Incentive Plan as of the date of the award, of one share of common stock for each Restricted Stock
Unit granted under the Stock Incentive Plan in lieu of a current bonus award.

     Section 1.8. Continuous Service shall mean “Service” as calculated under the
rules of Plan A, rounded to the nearest whole year.

     Section 1.9. Deferred Compensation Program shall mean any compensation
deferred at any time or from time to time under an elective deferred compensation plan or program
maintained by the Company for Employees of the Company and its Affiliates.

     Section 1.10. EBAB shall mean the “Employee Benefits Administration Board” as
described in Plan A.

     Section 1.11. Employee shall mean any person who is employed by an Employer.

     Section 1.12. Employer shall mean the Company and its Affiliates.

     Section 1.13. Excess Plan shall mean the H. J. Heinz Company Employees
Retirement and Savings Excess Plan, as amended from time to time.

     Section 1.14. Final Average Compensation shall mean the average annual
Compensation of a Member during the five highest compensated years of the Member’s last 10 years of
Continuous Service.

     Section 1.15. Interest Credit shall mean the monthly credit that is made to
the Account of each Member as of the end of each month representing notional investment earnings.

     Section 1.16. Key Employee shall mean, for each 12-month period beginning on
May 1, a person who met the requirements of Code section 416(i)(1)(A)(i), (ii), or (iii) (applied
in accordance with the regulations thereunder and disregarding Code section 416(i)(5)) as of the
applicable identification date for such 12-month period, which shall be the first day of the
calendar year in which such 12-month period begins. For purposes of this determination a person is
a key employee on the applicable identification date if he or she is a key employee under the
requirements of Code section

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416(i)(1)(A)(i), (ii), or (iii), applied as indicated above, at any
time during the 12 month period ending on the applicable identification date. In other words, the
identification of key employees is determined for the 12 month period ending on each January 1st,
and such identified Key Employees are Key Employees for purposes of this Plan effective for the 12
month period beginning on the immediately following May 1st of that same calendar year
in which the applicable identification date occurred.

     Section 1.17. MIP shall mean the “H. J. Heinz Company Management Incentive
Plan” as in effect for periods before May 1, 1994.

     Section 1.18. Member shall mean any Employee meeting the eligibility
requirements of Article 2.

     Section 1.19. Office of the Chairman shall mean the corporate management group
(previously referred to as the Management Committee) so designated by the Board of Directors.

     Section 1.20. Pay Credit shall mean the monthly credit to a Member’s Account
based on a percentage of the Member’s monthly Compensation.

     Section 1.21. Plan shall mean the “H. J. Heinz Company Supplemental Executive
Retirement Plan” as set forth herein and as from time to time amended.

     Section 1.22. Plan A shall mean the “Employees’ Retirement System of H. J.
Heinz Company (Plan “A”) for Salaried Employees”, as amended from time to time.

     Section 1.23. Plan A Benefit shall mean the Actuarial Equivalent Value of the
benefit provided under Plan A determined as of the date of the Member’s Separation from Service.

     Section 1.24. Plan Year shall mean a calendar year.

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     Section 1.25. Release shall mean a signed general release of all claims
against the Employer arising prior to execution thereof which is designed to ensure that both the
Employee and the Employer have their rights and obligations established with certainty and
finality, including a release of age discrimination claims under the federal Age Discrimination in
Employment Act in compliance with the Older Workers Benefit Protection Act.

     Section 1.26. RSP shall mean the H. J. Heinz Company Employees Retirement and
Savings Plan, as amended from time to time.

     Section 1.27. RSP Company Account Benefit shall mean, as of any specified
date, the sum of (a) and (b) below:

     (a) the contributions pursuant to Section 4.01 of the RSP allocated to the Member’s “Company
Contribution Account” under the RSP increased from the date of such allocation to such specified
date by interest compounded monthly at the rate specified below:

          (i) for each month beginning before June 1, 1996, the applicable rate for the first day of
such month determined by reference to the active Buck Forward Interest Rate Index;

          (ii) for each month beginning on or after June 1, 1996 and before May 1, 2004, the applicable
rate for the first day of such month
determined by reference to the active Buck Forward Interest Rate Index increased by one
percentage point; and

          (iii) for each month beginning on or after May 1, 2004, a rate equal to the yield on the
Moody’s Aa Long Term Corporate Bond Index determined as of the last day of the last preceding
month.

     (b) the amounts credited as of such specified date to the Member’s account under the Excess
Plan pursuant to Sections 4.02, 4.03, and 4.04 thereof.

     Section 1.28. Restricted Stock Unit shall have the meaning set forth in the
Stock Incentive Plan.

- 4 -

 

     Section 1.29. Separation from Service of a Member shall mean the death of the
Member or the retirement or other termination of employment of the Member such that he ceases to be
an Employee of any Employer, provided that no change in a Member’s employment status shall be
considered a Separation from Service unless it would be treated as such pursuant to regulations
under Code section 409A. For purposes of determining whether or not a termination of employment has
occurred if an employee is expected to work less than 50% of the time that he/she worked in the
preceding 36 month period a termination of employment is presumed to have occurred, and if an
employee is expected to work greater than or equal to 50% of the time that he/she worked in the
preceding 36 month period a termination of employment is presumed not to have occurred.

     Section 1.30. Spouse shall mean a person to whom the Member was legally
married on the date of the Member’s death.

     Section 1.31. Stock Incentive Plan shall mean the “H. J. Heinz Company Fiscal
Year 2003 Stock Incentive Plan” as amended from time to time, or any successor plan that provides
for Restricted Stock Units.

     Section 1.32. Total Cash Band shall mean the applicable band among the series
of bands into which positions within the Company or Affiliate have been grouped, on the basis of
base salary and annual bonus target levels, for purposes of identifying eligibility for annual
bonus, equity grants, and other benefit plans and perquisites offered by the Employers.

- 5 -

 

ARTICLE 2

Participation and Eligibility for Benefits

     Section 2.1. Participation. An Employee shall be covered as a Member under the
Plan on or after September 1, 2007 if such Employee:

     (a) was covered under the Plan on August 31, 2007, or

     (b) is on a United States payroll and holds a position that comes within Total Cash Band 12,
13, or 14; or

     (c) is an Employee specifically designated for coverage under the Plan by the Office of the
Chairman; or

     (d) is otherwise designated as eligible by resolution of the Board.

     Section 2.2. Eligibility for Benefits.

     (a) A Member with five or more years of Continuous Service who ceases to be employed by the
Employer on or after his 55th birthday shall be entitled to the benefits under the Plan described
in Section 3.1. A Member who ceases to be employed by the Employer before his 55th birthday or
before he has five or more years of Continuous Service shall not be entitled to any benefit under
this Plan.

     (b) Anything herein to the contrary notwithstanding:

          (i) a person who was employed on June 27, 1991 by The Hubinger Company, a Delaware
corporation, and who as of May 1, 2004 has remained continuously employed by The Hubinger Company
or by a successor to the business of The Hubinger Company, shall be entitled, upon termination of
such employment after attaining age 55, to the lump sum benefit described in Appendix II, in lieu
of any other benefit under this Plan.

          (ii) A Member (other than a Member described in (iii) below) who was terminated from
employment involuntarily after having attained age 50 but before attaining age 55 as a result of
Project Dance initiatives, Logistics and Warehouse outsourcing, or the Fiscal Year 2006
restructuring initiatives, who was ineligible to receive the enhancements described in paragraph
7.10,

- 6 -

 

7.11, or 7.12 of Plan A solely because such Member met the eligibility requirements of
Section 2.1 of this Plan, but who satisfied all of the other requirements of paragraph 7.10(a),
7.11(a), or 7.12(a) of Plan A, shall be entitled to a benefit pursuant to Section 3.1(e).

          (iii) A person who is employed by an organization at the time that it ceases to be an
Affiliate by reason of a sale, spin-off, reorganization or restructuring, or similar transaction in
which such organization assumes responsibility for benefits for such person comparable to those
provided under this Plan, shall cease to be a Member of this Plan on the effective date of such
transaction. Moreover, such transaction shall not be deemed to result in a Separation from Service
for purposes of this Plan and such person shall not be entitled to any benefits under this Plan
with respect to employment before or after the effective date of such transaction.

     Section 2.3. Death. If a Member dies while actively employed by the Employer
(or after Separation from Service and before payment has been made pursuant to Section 3.2) and
after meeting the age and service requirements for a retirement benefit under Section 2.2 and the
Member is survived by a Spouse, a benefit shall be payable to the Member’s surviving Spouse as
provided in Section 3.1(b). No benefits shall be payable under the Plan in any other case of death.

- 7 -

 

ARTICLE 3

Benefits

     Section 3.1. Amount of Benefits. Unless otherwise provided in an Appendix to
this Plan, the amount of benefits payable under the Plan shall be as follows:

     (a) The benefit payable hereunder upon Separation from Service under conditions resulting in
benefit eligibility under Section 2.2 shall be determined as follows:

          (i) Benefits for periods of participation after April 30, 2004 shall accrue according to a
cash balance formula based on a monthly Pay Credit to the Member’s Account equal to a specified
percentage of the Member’s monthly Compensation, with the balance credited to the Account being
increased each month by an Interest Credit. The benefit at retirement with respect to periods after
April 30, 2004 shall be equal to the amount credited to the Member’s Account at the time of
Separation from Service with the Employers.

               (A) The Pay Credit to each Member’s Account for each month shall be made on the last day of
each month. The amount of each Pay Credit shall be determined as a percentage of the Member’s
monthly Compensation, the applicable percentage being based on the Member’s Total Cash Band, as set
forth in the following table:

	 	 	 	 	 
	Total Cash Band	 	Percentage of Monthly Compensation
	12 or above
	 	 	8	%
	10 or 11
	 	 	7	%
	9 or below
	 	 	6	%

The first Pay Credit for the Account of a person who was a Member of the Plan on May 1, 2004 shall
be made as of May 31.

               (B) The Interest Credit to each Member’s Account shall be 5%, compounded monthly, subject to
periodic review. The first Interest Credit shall be made as of the end of the first month
commencing after a Pay Credit has been made to the Member’s Account.

- 8 -

 

          (ii) For a person who was a Member as of April 30, 2004, the benefit accruing after April 30,
2004 according to (i) above shall be increased by the amount of the Member’s benefit attributable
to periods before May 1, 2004, which shall be equal to (A) below reduced (but not below zero) by
the offsets specified in (B) below:

               (A) The multiple of the Member’s Final Average Compensation (“FAC”) at the date of Separation
from Service with the Employers and the Member’s Continuous Service during periods before May 1,
2004 determined according to the table attached hereto and made a part hereof as Exhibit A.

               (B) The applicable offsets are:

                    (I) the Plan A Benefit;

                    (II) the RSP Company Account Benefit; and

                    (III) the Actuarial Equivalent Value of the Employer-funded portion of any benefit payable as
an annuity or from any lump sum payment in lieu of an annuity from any retirement plan of the
Employer, domestic or foreign.

     (b) In the case of death of a Member while actively employed (or after Separation from Service
and before payment has been made pursuant to Section 3.2) who would have been entitled upon
Separation from Service on the date of his death to a benefit described in subsection (a) above,
the deceased Member’s surviving Spouse shall receive a lump sum payment equal to the lump sum
retirement benefit to which the Member would have been entitled if the Member had retired on the
date of death.

     (c) In addition to the benefits determined under Section 3.1, the Chief Executive Officer of
the Company as of May 6, 2002 shall be entitled to the Special Enhancement described in Appendix I.

     (d) Notwithstanding the foregoing, the benefit payable under this Plan to a Member who was
terminated from employment involuntarily after having attained age 55, as a result of Project Dance
initiatives, Logistics and Warehouse outsourcing, or the Fiscal Year 2006 restructuring
initiatives, and
who was ineligible to receive the enhancements described in paragraph 7.10,

- 9 -

 

7.11, or 7.12 of
Plan A solely because such Member met the eligibility requirements of Section 2.1 of this Plan, but
who satisfied all of the other requirements of paragraph 7.10(a), 7.11(a), or 7.12(a) of Plan A,
shall be entitled to the supplement described in Section A of Appendix III, in addition to any
other benefits payable under Section 3.1(a).

     (e) In the case of a Member described in Section 2.2(b)(ii), the benefit payable hereunder
upon Separation from Service shall be determined under Section B of Appendix III.

     Section 3.2. Payment of Benefits. The Plan benefit payable to a Member or
surviving Spouse shall be paid from the general assets of the Employer. Payment shall be made in a
single cash lump following Separation from Service, as specified below:

     (a) Subject to the provisions of Section 6.8, and subparagraph (b) below, payment shall be
made within the 90 day period following a Member’s Separation from Service (provided, however, that
if this 90 day period overlaps two taxable years of the Member the Member does not have the right
to designate the taxable year of the payment), provided that if calculation of the amount of the
payment is not administratively practicable due to events beyond the control of the Member or his
estate, payment may be delayed until a date within the first calendar year in which payment is
administratively practicable.

     (b) Notwithstanding (a) above, effective January 1, 2005, in the case of a Key Employee,
payment shall not be made before the earlier of: (i) the date that is 6 months after the date of
Separation from Service, or (ii) the date of the Key Employee’s death. Payments that are delayed as
a result of this requirement shall be increased by interest from the date that is one month after
the date of Separation from Service to the date of payment at the applicable rate then in effect
under Section 3.1(a)(i)(B).

Anything in the Plan to the contrary notwithstanding, no distribution shall be made that would
cause the Plan, or any other plan or arrangement maintained by the Employers, to incur any of the
failures described by Code section 409A(a)(1).

- 10 -

 

     Section 3.3. Benefits in Cases of Reemployment. A Member who was reemployed
after having received a lump sum payment of his accrued benefit under the Plan shall accrue
benefits under the Plan as a new Member. In the case of a Member who terminated employment at a
time when he had no vested right to the benefit accrued under the Plan and who is subsequently
reemployed, the Plan benefit attributable to the prior period of employment shall be zero unless
the Office of the Chairman determines under the circumstances that some or all of such accrued
benefit shall be reinstated.

- 11 -

 

ARTICLE 4

Administration

     Section 4.1. EBAB The general administration and responsibility for carrying
out the provisions of the Plan shall be placed with EBAB. Membership in EBAB shall not disqualify
an Employee from participation in the Plan. EBAB shall have complete control of the administration
of the Plan with all powers to enable it to carry out its duties in that respect, subject to any
limitations and conditions specified in or imposed by the Plan.

     Section 4.2. Powers. In addition to any implied powers needed to carry out the
provisions of the Plan, EBAB shall have the following specific powers, subject to the provisions of
Section 6.8:

     (a) To make and enforce such rules and regulations and procedures as it shall deem necessary
or proper for the efficient administration of the Plan and to design written forms or other
documents to implement such rules, regulations and procedures.

     (b) To interpret the Plan and to decide any and all matters arising hereunder, including the
right to remedy possible ambiguities, inconsistencies or omissions.

     (c) To determine the amount of benefits that shall be payable to a Member or Spouse in
accordance with the provisions of the Plan.

     (d) To arrange for withholding and remittance of such withholding taxes as are required under
the Code.

     (e) To authorize one or more of its number or any agent to execute or deliver any instrument
or make any payment on its behalf; to retain counsel, employ agents and provide for such clerical,
accounting and consulting services as it may require in carrying out the provisions of the Plan;
and to allocate among or delegate to other persons all or such portion of its duties hereunder as
EBAB in its sole discretion shall decide.

     (f) To determine benefit eligibility under the Plan, to interpret Plan provisions, and to take
any action necessary to execute the provisions of the Plan.

- 12 -

 

All such authority shall be exercised in a manner consistent with the provisions of the Plan. All
interpretations, determinations, and decisions of EBAB in respect of any matter hereunder shall be
final, conclusive, and binding upon the Employees, Members, and Spouses and all other persons
claiming an interest under the Plan.

     Section 4.3. Quorum and EBAB Actions. A majority of the members of EBAB shall
have the power to act with or without a meeting and the concurrence of any member may be by letter,
wire, cablegram, telephone, facsimile, or other telephonic or electronic transmission.

     Section 4.4. Liability Insurance and Indemnification. The Company shall obtain
insurance or indemnify the members of EBAB for any and all liability, whether joint or several, for
their acts and conduct, or the acts or conduct of their agents, in their official capacity, to the
fullest extent permitted or authorized by current or future legislation or by current or future
judicial or administrative decision.

     Section 4.5. Facility of Payment. Whenever, in EBAB’s opinion, a person
entitled to receive any payment of a benefit hereunder is under legal disability or is
incapacitated in any way so as to be unable to manage his financial affairs, EBAB may direct the
Employer to make payments to such person or to his legal representative or to a relative or friend
of such person for his benefit or to apply the payment for the benefit of such person in such
manner as EBAB considers advisable.

     Section 4.6. Expenses. The Company shall pay all expenses of administering the
Plan.

- 13 -

 

ARTICLE 5

Amendment and Termination

     Section 5.1. Right to Amend or Terminate. While the Company intends to
maintain the Plan for as long as necessary, the Board of Directors reserves the right to terminate,
modify, alter, or amend this Plan from time to time to any extent that it may deem advisable, and
subject to the provisions of Section 6.8; provided, however, that no such action shall, after the
date of accrual and vesting of a Member’s benefits pursuant to Section 2.2 hereof, retroactively
reduce or permit set-off against the portion of a Member’s accrued and vested benefits that accrued
and vested under this Plan prior to the date of such action. Consistent with the requirements of
Section 6.8, at any time prior to a Member’s Separation from Service the Company specifically
retains the right to modify the method of payment of a Member’s benefits that are described in
Section 3.2., whether or not such benefits are accrued and vested pursuant to Section 2.2.
Amendment and termination authority shall be exercisable on behalf of the Company as follows:

     (a) Termination of the Plan or complete discontinuance of benefit accruals under the Plan
shall require action by the Board of Directors.

     (b) An amendment changing the level of benefit accruals under the Plan shall require action by
the Management Development and Compensation Committee of the Board of Directors.

     (c) Any other amendment may be made by the Office of the Chairman.

     Section 5.2. Termination Procedures. In the event of termination or partial
termination of the Plan, the benefits of affected Members, as determined on the basis of the
authorizing Board resolution, shall be paid as specified in such resolution or, if no payment
direction is specified, as directed by EBAB, or in the absence of such direction, as prescribed in
Article 3. In making any payment of benefits after termination of the Plan, any and all
determinations by EBAB as to timing and amount shall be final and conclusive. Notwithstanding the
foregoing, benefits shall not be paid other than as prescribed in Section 3.2 unless the
termination of the Plan and the terms of payment of benefits are in accordance with acceleration
circumstances permitted by regulations pursuant to Code section 409A in case of a corporate
dissolution taxed under Code section 331, a change in control event described in such regulations,
the

- 14 -

 

complete termination of all aggregated arrangements, or such other circumstances as may be
permitted by generally applicable guidance pursuant to Code section 409A.

- 15 -

 

ARTICLE 6

Miscellaneous

     Section 6.1. Headings — The headings are for reference only. In the event of a
conflict between a heading and the content of a Section, the content of the Section shall control.

     Section 6.2. Source of Payment — The sole source of payments to a Member or
Spouse under the Plan shall be the general assets of the Employer. The rights and interests of a
Member or Spouse under the Plan shall be solely the rights of a general creditor of the Employer.
Except as provided in Section 6.3, no assets shall be set aside in trust for any Member or Spouse.

     Section 6.3. Authorization for Trust. Notwithstanding Section 6.2, the Company
may, but shall not be required to, establish one or more trusts for the purpose of providing for
the payment of Plan benefits. Such trust or trusts may be irrevocable, but the assets thereof shall
be subject to the claims of the Employer’s creditors. To the extent any benefits under the Plan are
actually paid from any such trust, the Employer shall have no further obligation with respect
thereto, but to the extent not so paid, such amounts shall remain the obligation of, and shall be
paid by, the Employer.

     Section 6.4. No Employment Rights. Nothing contained in the Plan shall be
construed as a contract of employment between the Employer and any Employee or as a right of any
Employee to be continued in employment or as a limitation on the right of any Employer to discharge
any of its Employees with or without cause.

     Section 6.5. Benefits Not Assignable. No right or interest of any Member or
Spouse in the Plan shall be assignable or transferable, or subject to any lien, in whole or in
part, either directly or by operation of law, or otherwise, including, but not by way of
limitation, execution, levy, garnishment, attachment, pledge, bankruptcy, or in any other manner,
and no right or interest of any Member or Spouse in the Plan shall be liable for, or be subject to,
any obligation or liability of such Member or Spouse.

     Section 6.6. Laws Applicable. The Plan shall be governed by, and construed in
accordance with, the laws of the Commonwealth of Pennsylvania, to the extent not inconsistent with
any applicable provision of ERISA, provided that it is intended that the Plan shall be construed so
as not to incur any of the

- 16 -

 

failures described by Code section 409A(a)(1) with respect to this Plan
or any other plan or arrangement maintained by the Employers.

     Section 6.7. Number and Gender. Masculine pronouns used herein shall refer to
men or women or both and nouns when stated in the singular shall include the plural and when stated
in the plural shall include the singular whenever appropriate.

     Section 6.8. Compliance with Code Section 409A. It is intended that amounts
deferred under this Plan will not be taxable under Code section 409A. This Plan shall be
interpreted and administered, to the extent possible, in a manner that does not result in a “plan
failure” (within the meaning of Code section 409A(a)(1)) of this Plan or any other plan or
arrangement maintained by the Employers. The Plan is designed to comply with Code section 409A
(without incurring penalties). In the event of an inconsistency between the terms of the Plan and
Code section 409A, the terms of Code section 409A shall control.

- 17 -

 

ARTICLE 7

Claims Procedure

     Section 7.1. Disposition of Claim. EBAB shall furnish written notice of
disposition of a claim to the claimant within 30 days after the claimant has filed application
therefor. In the event EBAB denies such claim, it shall specifically set forth in writing the
reasons for the denial, cite the pertinent provisions of the Plan, and, where appropriate, provide
an explanation as to how the claimant can perfect such claim.

     Section 7.2. Appeals. Any Member or Spouse who has been denied a benefit shall
be entitled, upon request to the Secretary of EBAB, to appeal the denial of his claim. The claimant
must provide a written statement of his position to the Secretary of EBAB not later than 60 days
after receipt of the notification of denial of claim as set forth in paragraph 13.02 of the RSP.
EBAB shall, within 60 days after receipt of such notice, communicate to the claimant its decision
in writing.

     Section 7.3. EBAB Decision Final. EBAB’s determination of benefits due under
the Plan shall be accorded deference and its decision shall be final and binding upon all parties.

- 18 -

 

EXHIBIT A

PAST SERVICE BENEFIT BASED ON SERVICE AND

FINAL AVERAGE COMPENSATION (FAC)

	 	 	 	 	 
	Continuous Service	 	 
	before May 1, 2004	 	Multiple of FAC
	less than 6 years
	 	 	1.0	 
	6
	 	 	1.2	 
	7
	 	 	1.4	 
	8
	 	 	1.6	 
	9
	 	 	1.8	 
	10
	 	 	2.0	 
	11
	 	 	2.2	 
	12
	 	 	2.4	 
	13
	 	 	2.6	 
	14
	 	 	2.8	 
	15
	 	 	3.0	 
	16
	 	 	3.1	 
	17
	 	 	3.2	 
	18
	 	 	3.3	 
	19
	 	 	3.4	 
	20
	 	 	3.5	 
	21
	 	 	3.6	 
	22
	 	 	3.7	 
	23
	 	 	3.8	 
	24
	 	 	3.9	 
	25
	 	 	4.0	 
	26
	 	 	4.1	 
	27
	 	 	4.2	 
	28
	 	 	4.3	 
	29
	 	 	4.4	 
	30
	 	 	4.5	 
	31
	 	 	4.6	 
	32
	 	 	4.7	 
	33
	 	 	4.8	 
	34
	 	 	4.9	 
	35
	 	 	5.0 maximum

- 19 -

 

APPENDIX I

CEO ADDITIONAL BENEFIT

In addition to the benefits otherwise payable as determined pursuant to Section 3.1, the Chief
Executive Officer of the Company as of May 6, 2002 shall be entitled to additional benefits under
this Plan determined according to this Appendix I.

	A.	 	The amount of the additional benefit, expressed as an annual straight life annuity of
equivalent value, shall be determined from the following table based on Continuous Service
after May 6, 2002 and Final Average Compensation (FAC), subject to the limit set forth in B.
below and the conditions set forth in C. below:

	 	 	 	 	 
	Continuous Service after	 	 
	May 6, 2002 to the	 	 
	Nearest Whole Year	 	Percentage of FAC
	less than 1 year
	 	 	0	 
	1 year
	 	 	3.85	%
	2 years
	 	 	7.70	%
	3 years
	 	 	11.55	%
	4 years
	 	 	15.40	%
	5 years
	 	 	19.25	%
	6 years
	 	 	23.10	%
	7 or more years
	 	 	26.95	%

	B.	 	The amount of the additional benefit shall be limited to an amount that produces an annual
straight life annuity of equivalent value that does not exceed 60% of Final Average
Compensation, reduced by the sum of the following annual benefits determined on the basis of a
straight life annuity commencing upon retirement at age 60: (i) an annual straight life
annuity of equivalent value to the benefit provided under this Plan without regard to this
Appendix I; (ii) an annual straight life annuity of equivalent value to the Plan A Benefit;
(iii) an annual straight life annuity of equivalent value to the RSP Company Account Benefit;
and (iv) the annual straight life annuity payable from any other retirement plan of the
Employer, domestic or foreign (or, if any such plan does not provide for such an annuity, an
annual straight life annuity of equivalent
value to the

- 20 -

 

	 	 	lump sum benefit provided under such plan). Calculations of equivalent value
shall be made using the factors and assumptions that are determined in accordance with Plan
A.
	 
	C.	 	No amount shall be payable pursuant to this Appendix I if there is an interruption of
Continuous Service before May 6, 2007. Notwithstanding the preceding sentence, if Continuous
Service is involuntarily terminated other than for cause (as such term is defined in the Stock
Incentive Plan), benefits under this Appendix I shall be payable on the basis of the table in
A. above, based on Continuous Service to the date of termination, subject to the limit set
forth in B. above.

D. The annuity amount determined under A. above, after applying the limitations and conditions set
forth in B. and C. above, shall be payable as a single sum of Actuarial Equivalent Value, pursuant
to the provisions of Section 3.2.

- 21 -

 

APPENDIX II

HUBINGER BENEFIT

Notwithstanding any other provision of this Plan, a person described in Section 2.2(b)(i) of this
Plan shall be entitled, upon termination of such employment after attaining age 55, to the lump sum
benefit described in this Appendix II, payable pursuant to the provisions of Section 3.2, which
shall be in lieu of any other benefit under this Plan.

	A.	 	As of May 1, 2004, the only person entitled to a benefit upon Separation from Service with a
successor to the business of The Hubinger Company is Ivan Hasselbush.
	 
	B.	 	The amount of the lump sum benefit payable to Ivan Hasselbush upon termination of his
employment with a successor to the business of The Hubinger Company is as follows:

	 	 	 	 	 
	Age at Termination	 	Lump Sum Benefit
	60
	 	$	106,938.40	 
	61
	 	$	102,385.62	 
	62
	 	$	98,239.92	 
	63
	 	$	94,492.78	 
	64
	 	$	91,155.73	 
	65 or older
	 	$	88,197.47	 

- 22 -

 

APPENDIX III

SPECIAL ENHANCEMENTS

The benefits payable with respect to a Member pursuant to Section 3.1(d) of the Plan shall be as
follows:

	A.	 	For an eligible Employee who had attained age 55 as of the date of Separation from Service,
the amount of the benefit payable under the Plan shall be increased by a supplement equal to
the excess of the amount described in (1) below over the amount described in (2) below. This
supplement shall be in addition to the benefits otherwise payable from the Plan and the
benefits payable from Plan A.

	 	(1)	 	the lesser of (a) and (b) below:

	 	(a)	 	150% of the greater of:

	 	(i)	 	the Single Sum Amount (as defined in Plan A)
as of the date of Separation from Service;
	 
	 	(ii)	 	the Lump Sum Value (as defined in Plan A
determined by applying the Lump Sum Factors applicable for annuity
starting dates during the year in which Separation from Service
occurred) of the Accrued Benefit (as defined in Plan A), multiplied by
the Early Commencement Factor (as defined in Plan A) determined as of
the effective date of Separation from Service;

	 	(b)	 	120% of the greater of:

	 	(i)	 	the Single Sum Amount (as defined in Plan A)
determined as of the effective date of Separation from Service;
	 
	 	(ii)	 	the Lump Sum Value (as defined in Plan A
determined by applying the Lump Sum Factors applicable for annuity
starting dates during the year in which Separation from Service
occurred) of the

- 23 -

 

	 	 	 	Accrued Benefit (as defined in Plan A), without applying the Early
Commencement Factor (as defined in Plan A) determined as of the
effective date of Separation from Service.

	 	(2)	 	the Lump Sum Value (as defined in Plan A) of the Accrued Benefit (as defined
in Plan A) under Plan A determined as of the effective date of Separation from
Service.

	B.	 	For an eligible Employee who had not attained age 55 as of the date of Separation from
Service, the amount of the benefit payable under the Plan shall be equal to the benefit the
Employee would have been entitled to receive under Section 3.1 of the Plan had the Employee
met the age requirements of Section 2.2(a) of the Plan.

- 24 -EX-4.1

Exhibit 4.1

EXECUTION COPY

 

 

 

SUPERIOR WELL SERVICES, INC.

SUPERIOR GP, L.L.C.

SUPERIOR WELL SERVICES, LTD.

SWSI FLUIDS, LLC

SECOND LIEN NOTES DUE 2013

 

INDENTURE

Dated as of November 18, 2008

 

Wilmington Trust FSB,

as Trustee and Collateral Agent

 

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 1.01

	 	Definitions
	 	 	1	 
	Section 1.02

	 	Other Definitions
	 	 	12	 
	Section 1.03

	 	Incorporation by Reference of Trust Indenture Act
	 	 	12	 
	Section 1.04

	 	Rules of Construction
	 	 	13	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 2

THE NOTES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 2.01

	 	Form and Dating
	 	 	13	 
	Section 2.02

	 	Execution and Authentication
	 	 	14	 
	Section 2.03

	 	Registrar and Paying Agent
	 	 	14	 
	Section 2.04

	 	Paying Agent to Hold Money in Trust
	 	 	15	 
	Section 2.05

	 	Holder Lists
	 	 	15	 
	Section 2.06

	 	Transfer and Exchange
	 	 	15	 
	Section 2.07

	 	Replacement Notes
	 	 	23	 
	Section 2.08

	 	Outstanding Notes
	 	 	23	 
	Section 2.09

	 	Treasury Notes
	 	 	24	 
	Section 2.10

	 	Temporary Notes
	 	 	24	 
	Section 2.11

	 	Cancellation
	 	 	24	 
	Section 2.12

	 	Defaulted Interest
	 	 	24	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 3

REDEMPTION AND PREPAYMENT	 	 	 	 
	 
	 	 	 	 	 	 
	Section 3.01

	 	Notices to Trustee
	 	 	25	 
	Section 3.02

	 	Selection of Notes to Be Redeemed
	 	 	25	 
	Section 3.03

	 	Notice of Redemption
	 	 	25	 
	Section 3.04

	 	Effect of Notice of Redemption
	 	 	26	 
	Section 3.05

	 	Deposit of Redemption Price
	 	 	26	 
	Section 3.06

	 	Notes Redeemed in Part
	 	 	27	 
	Section 3.07

	 	Optional Redemption
	 	 	27	 
	Section 3.08

	 	Mandatory Redemption
	 	 	27	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 4

COVENANTS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 4.01

	 	Payment of Notes
	 	 	27	 
	Section 4.02

	 	Maintenance of Office or Agency
	 	 	27	 
	Section 4.03

	 	Reporting Requirements
	 	 	28	 
	Section 4.04

	 	Affirmative Covenants
	 	 	28	 
	Section 4.05

	 	Negative Covenants
	 	 	30	 
	Section 4.06

	 	Offer to Repurchase Upon Change of Control
	 	 	33	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 5

SUCCESSORS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 5.01

	 	Successor Corporation Substituted
	 	 	35	 

-i-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 6

DEFAULTS AND REMEDIES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 6.01

	 	Events of Default
	 	 	35	 
	Section 6.02

	 	Acceleration
	 	 	37	 
	Section 6.03

	 	Other Remedies
	 	 	37	 
	Section 6.04

	 	Waiver of Past Defaults
	 	 	37	 
	Section 6.05

	 	Control by Majority
	 	 	37	 
	Section 6.06

	 	Limitation on Suits
	 	 	38	 
	Section 6.07

	 	Rights of Holders of Notes to Receive Payment
	 	 	38	 
	Section 6.08

	 	Collection Suit by Trustee or Collateral Agent
	 	 	38	 
	Section 6.09

	 	Trustee and Collateral Agent May File Proofs of Claim
	 	 	39	 
	Section 6.10

	 	Priorities
	 	 	39	 
	Section 6.11

	 	Undertaking for Costs
	 	 	40	 
	Section 6.12

	 	Restoration of Rights and Remedies
	 	 	40	 
	Section 6.13

	 	Rights and Remedies Cumulative
	 	 	40	 
	Section 6.14

	 	Delay or Omission not Waiver
	 	 	40	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 7

TRUSTEE AND COLLATERAL AGENT	 	 	 	 
	 
	 	 	 	 	 	 
	Section 7.01

	 	Duties of Trustee and Collateral Agent
	 	 	40	 
	Section 7.02

	 	Rights of Trustee and Collateral Agent
	 	 	41	 
	Section 7.03

	 	Individual Rights of Trustee and Collateral Agent
	 	 	42	 
	Section 7.04

	 	Trustee’s and Collateral Agent’s Disclaimers
	 	 	43	 
	Section 7.05

	 	Notice of Defaults
	 	 	43	 
	Section 7.06

	 	Reports by Trustee to Holders of the Notes
	 	 	43	 
	Section 7.07

	 	Compensation and Indemnity
	 	 	44	 
	Section 7.08

	 	Replacement of Trustee or Collateral Agent
	 	 	45	 
	Section 7.09

	 	Successor Trustee or Collateral Agent by Merger, etc.
	 	 	46	 
	Section 7.10

	 	Eligibility; Disqualification
	 	 	46	 
	Section 7.11

	 	Preferential Collection of Claims Against Company
	 	 	46	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 8

[RESERVED]	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER	 	 	 	 
	 
	 	 	 	 	 	 
	Section 9.01

	 	Without Consent of Holders of Notes
	 	 	46	 
	Section 9.02

	 	With Consent of Holders of Notes
	 	 	47	 
	Section 9.03

	 	Compliance with Trust Indenture Act
	 	 	48	 
	Section 9.04

	 	Revocation and Effect of Consents
	 	 	48	 
	Section 9.05

	 	Notation on or Exchange of Notes
	 	 	48	 
	Section 9.06

	 	Trustee and Collateral Agent to Sign Amendments, etc.
	 	 	49	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 10

SATISFACTION AND DISCHARGE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 10.01

	 	Satisfaction and Discharge
	 	 	49	 
	Section 10.02

	 	Application of Trust Money
	 	 	50	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 11

MISCELLANEOUS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 11.01

	 	Trust Indenture Act Controls
	 	 	50	 
	Section 11.02

	 	Notices
	 	 	50	 
	Section 11.03

	 	Communication by Holders of Notes with Other Holders of Notes
	 	 	51	 
	Section 11.04

	 	Certificate and Opinion as to Conditions Precedent
	 	 	52	 
	Section 11.05

	 	Statements Required in Certificate or Opinion
	 	 	52	 
	Section 11.06

	 	Rules by Trustee and Agents
	 	 	52	 
	Section 11.07

	 	No Personal Liability of Directors, Officers, Employees and Stockholders
	 	 	52	 
	Section 11.08

	 	Governing Law
	 	 	53	 
	Section 11.09

	 	No Adverse Interpretation of Other Agreements
	 	 	53	 
	Section 11.10

	 	Successors
	 	 	53	 
	Section 11.11

	 	Severability
	 	 	53	 
	Section 11.12

	 	Counterpart Originals
	 	 	53	 
	Section 11.13

	 	Table of Contents, Headings, etc.
	 	 	53	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 12

GUARANTEES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 12.01

	 	Guarantee
	 	 	53	 
	Section 12.02

	 	Limitation on Guarantor Liability
	 	 	54	 
	Section 12.03

	 	Execution and Delivery of Guarantee
	 	 	55	 
	Section 12.04

	 	Guarantors May Consolidate, etc., on Certain Terms
	 	 	55	 
	Section 12.05

	 	Contribution
	 	 	56	 
	Section 12.06

	 	Waiver of Subrogation
	 	 	56	 
	Section 12.07

	 	Releases
	 	 	56	 
	Section 12.08

	 	Waiver of Stay, Extension or Usury Laws
	 	 	56	 
	Section 12.09

	 	No Set-Off
	 	 	57	 
	Section 12.10

	 	Guarantee Obligations Continuing
	 	 	57	 
	Section 12.11

	 	Guarantee Obligations Not Affected
	 	 	57	 
	Section 12.12

	 	Dealing with the Company and Others
	 	 	58	 
	Section 12.13

	 	Default and Enforcement
	 	 	59	 
	Section 12.14

	 	No Merger or Waiver; Cumulative Remedies
	 	 	59	 
	Section 12.15

	 	Guarantee in Addition to Other Guarantee Obligations
	 	 	59	 
	Section 12.16

	 	Successors and Assigns
	 	 	59	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 13

AGREEMENTS REGARDING SECURITY	 	 	 	 
	 
	 	 	 	 	 	 
	Section 13.01

	 	Grant of Security Interest
	 	 	59	 
	Section 13.02

	 	Intercreditor Agreement
	 	 	60	 
	Section 13.03

	 	Recording and Opinions
	 	 	60	 
	Section 13.04

	 	Release of Collateral
	 	 	61	 
	Section 13.05

	 	Form and Sufficiency of Release
	 	 	62	 
	Section 13.06

	 	Purchaser Protected
	 	 	63	 
	Section 13.07

	 	Actions to Be Taken by the Collateral Agent
	 	 	63	 
	Section 13.08

	 	Receipt of Funds by the Collateral Agent
	 	 	63	 
	Section 13.09

	 	Trustee and Collateral Agent Not Fiduciary for Holders of Senior Debt
	 	 	64	 

iii

 

EXHIBITS

	 	 	 
	Exhibit A

	 	FORM OF NOTE
	Exhibit B

	 	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C

	 	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D

	 	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	Exhibit E

	 	FORM OF NOTATION OF GUARANTEE
	Exhibit F

	 	FORM OF SUPPLEMENTAL INDENTURE
	Exhibit G

	 	FORM OF QUARTERLY COMPLIANCE CERTIFICATE
	Exhibit H

	 	FORM OF ANNUAL COMPLIANCE CERTIFICATE

SCHEDULES

	 	 	 
	Schedule 1.01(A)
Schedule 1.01(B)
Schedule 4.04(C)
Schedule 4.05(D)
Schedule 4.05(G)

	 	PERMITTED LIENS

PERMITTED INDEBTEDNESS

INSURANCE REQUIREMENTS RELATING TO COLLATERAL

EXISTING INVESTMENTS

AFFILIATE TRANSACTIONS

iv

 

     INDENTURE dated as of November 18, 2008 among Superior Well Services, Inc., a Delaware
corporation, Superior GP, L.L.C., a Delaware limited liability company, Superior Well Services,
Ltd., a Pennsylvania limited partnership, SWSI Fluids, LLC, a Delaware limited liability company,
Wilmington Trust FSB and any and all successors thereto, as trustee (as further defined in Section
1.01, the “Trustee”), and Wilmington Trust FSB and any and all successors thereto, as collateral
agent (as further defined in Section 1.01, the “Collateral Agent”).

     The Company, the Guarantors, the Trustee and the Collateral Agent agree as follows for the
benefit of each other and for the equal and ratable benefit of the Holders (as defined) of the
Company’s Second Lien Notes due 2013 (the “Notes”):

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01 Definitions.

     “Administrative Agent” has the meaning set forth in the definition of Credit Agreement.

     “Affiliate” means as to any Person any other Person (i) which directly or indirectly controls,
is controlled by, or is under common control with such Person, (ii) which beneficially owns or
holds 5% or more of any class of the voting or other equity interests of such Person, or (iii) 15%
or more of any class of voting interests or other equity interests of which is beneficially owned
or held, directly or indirectly, by such Person.

     “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

     “Applicable Interest Rate” means (i) a rate per annum equal to 7.0% from the date of this
Indenture to the first anniversary of the date of this Indenture, (ii) a rate per annum equal to
8.0% from the first anniversary of the date of this Indenture to the second anniversary of the date
of this Indenture, (iii) a rate per annum equal to 9.0% from the second anniversary of the date of
this Indenture to the third anniversary of the date of this Indenture, (iv) a rate per annum equal
to 10.0% from the third anniversary of the date of this Indenture to the fourth anniversary of the
date of this Indenture, and (v) a rate per annum equal to 11.0% from the fourth anniversary of the
date of this Indenture and until the Obligations are paid in full.

     “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary that apply to such
transfer or exchange.

     “Bankruptcy Law” means Title 11, U.S. Code or any similar federal, state or foreign law for
the relief of debtors.

     “Board of Directors” means:

          (1) with respect to a corporation, the board of directors of the corporation;

			
			

 

          (2) with respect to a partnership, the board of directors of the general partner of the
partnership; and

          (3) with respect to any other Person, the board or committee of such Person serving a
similar function.

     “Business Day” means any day which is neither a Saturday nor Sunday nor a legal holiday on
which commercial banks are authorized or required to be closed in New York, New York, or
Wilmington, Delaware;

     “Capital Stock” means:

     (1) in the case of a corporation, corporate stock;

     (2) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock;

     (3) in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited); and

     (4) any other interest or participation that confers on a Person the right to receive a
share of the profits and losses of, or distributions of assets of, the issuing Person.

     “Change of Control” means any person or group of persons (within the meaning of Sections 13(d)
or 14(a) of the Securities Exchange Act of 1934, as amended) shall have acquired beneficial
ownership of (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange
Commission under said Act) 50% or more of the voting capital stock of the Company; or (ii) within a
period of twelve (12) consecutive calendar months, individuals who were directors of the Company on
the first day of such period shall cease to constitute a majority of the board of directors of the
Company.

     “Code” means the Internal Revenue Code of 1986, as the same may be amended or supplemented
from time to time, and any successor statute of similar import, and the rules and regulations
thereunder, as from time to time in effect.

     “Collateral” shall mean the collateral under the Security Agreement and any other property,
whether now owned or hereafter acquired, upon which a Lien securing the Obligations under this
Indenture, the Notes and the Guarantees is granted or purported to be granted under any Collateral
Agreement; provided, however, that “Collateral” shall not include any Excluded
Collateral.

     “Collateral Agent” means Wilmington Trust FSB until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor serving hereunder.

     “Collateral Agreements” means, collectively, the Intercreditor Agreement, the Security
Agreement and each other instrument creating Liens in favor of the Trustee or the Collateral Agent
as required by the Indenture, in each case, as the same may be in force from time to time.

     “Commission” or “SEC” means the Securities and Exchange Commission.

     “Company” means Superior Well Services, Inc., a Delaware corporation, and any and all
successors thereto.

2

 

     “Consolidated EBITDA” means for any period of determination shall mean (i) the sum of net
income, depreciation, amortization, other non-cash charges to net income, interest expense and
income tax expense minus (ii) non-cash credits to net income, in each case of the Company
and its Subsidiaries for such period determined and consolidated in accordance with GAAP; provided,
however, that for the purposes of this definition, with respect to the acquisition of the
assets of any other business acquired by the Obligors, Consolidated EBITDA shall be calculated on a
pro forma as if such acquisition had been consummated at the beginning of such period.

     “Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in
Section 11.02 hereof or such other address as to which the Trustee may give notice to the Company.

     “Credit Agreement” means the Credit Agreement in effect on the Issue Date among the Company,
the Guarantors, Citizens Bank of Pennsylvania, as administrative agent (together with all
successors thereto, the “Administrative Agent”), and the other financial institutions party
thereto, providing for revolving credit borrowings and the issuance of letters of credit, including
any related notes, guarantees, collateral documents, instruments and agreements executed in
connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced
or refinanced from time to time.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor entity thereto.

     “Default” means any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default.

     “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except
that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges
of Interests in the Global Note” attached thereto.

     “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Indenture.

     “Diamondback” means Diamondback Holdings, LLC, a Delaware limited liability company.

     “Environmental Laws” means all applicable federal, state, local, tribal, territorial and
foreign Laws (including common law), constitutions, statutes, treaties, regulations, rules,
ordinances and codes and any consent decrees, settlement agreements, judgments, orders, directives,
policies or programs issued by or entered into with an Official Body pertaining or relating to: (i)
pollution or pollution control; (ii) protection of human health from exposure to regulated
substances; or the environment; (iii) protection of the environment and/or natural resources;
employee safety in the workplace; (iv) the presence, use, management, generation, manufacture,
processing, extraction, treatment, recycling, refining, reclamation, labeling, packaging, sale,
transport, storage, collection, distribution, disposal or release or threat of release of regulated
substances; (v) the presence of contamination; (vi) the protection of endangered or threatened
species; and (vii) the protection of environmentally sensitive areas.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

3

 

     “ERISA” means the Employee Retirement Income Security Act of 1974, as the same may be amended
or supplemented from time to time, and any successor statute of similar import, and the rules and
regulations thereunder, as from time to time in effect.

     “ERISA Affiliate” means, at any time, any trade or business (whether or not incorporated)
under common control with the Company and are treated as a single employer under Section 414 of the
Code.

     “ERISA Event” means (a) a reportable event (under Section 4043 of ERISA and regulations
thereunder) with respect to a Pension Plan; (b) a withdrawal by the Company or any ERISA Affiliate
from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a
substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that
is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial
withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a
Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate, the
treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the
commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an
event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or
the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the
imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not
delinquent under Section 4007 of ERISA, upon Borrower or any ERISA Affiliate.

     “ERISA Group” means, at any time, the Company and all members of a controlled group of
corporations and all trades or businesses (whether or not incorporated) under common control and
all other entities which, together with the Company, are treated as a single employer under Section
414 of the Internal Revenue Code.

     “Event of Default” means any of the events described in Section 6.01 and referred to therein
as an “Event of Default.”

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

     “Excluded Collateral” has the meaning assigned to such term in the Credit Agreement.

     “First Priority Agent” means the Administrative Agent and any successor designated as such by
the holders of Senior Debt.

     “Fixed Charge Coverage Ratio” means the ratio of Consolidated EBITDA minus Maintenance Capital
Expenditures to Fixed Charges.

     “Fixed Charges” means for any period of determination the sum of interest expense, income
taxes, scheduled principal installments on Indebtedness (as adjusted for prepayments), payments
under capitalized leases and dividends and distributions made pursuant to Section 4.05(e), in each
case of the Company and its Subsidiaries for such period determined and consolidated in accordance
with GAAP.

     “GAAP” means generally accepted accounting principles as are in effect from time to time and
applied on a consistent basis both as to classification of items and amounts.

     “Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is
required to be placed on all Global Notes issued under this Indenture.

4

 

     “Global Notes” means, individually and collectively, each of the Restricted Global Notes
deposited with or on behalf of and registered in the name of the Depository or its nominee,
substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that has
the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance
with Sections 2.01 and 2.06 hereof.

     “Government Securities” means securities that are:

     (1) direct obligations of the United States of America for the timely payment of which
its full faith credit is pledged; or

     (2) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America, the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of
America,

that, in either case, are not callable or redeemable at the option of the issuer thereof, and shall
also include a depository receipt issued by a bank (as defined in Section 3(a) of the Securities
Act), as custodian, with respect to any such Government Security or a specific payment of principal
of or interest on any such Government Security held by such custodian for the account of the holder
of such depository receipt; provided, however, that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of
such depository receipt from any amount received by the custodian in respect of the Government
Security or the specific payment of principal of or interest on the Government Security evidenced
by such depository receipt.

     “Guarantee” means any guarantee by a Guarantor of the Company’s obligations under this
Indenture and the Notes, executed pursuant to the provisions of this Indenture.

     “Guarantors” means each of the parties to this Indenture which is designated as a “Guarantor”
on the signature page hereof and each other Person which joins this Indenture as a Guarantor after
the date hereof.

     “Guaranty” of any Person means any obligation of such Person guaranteeing or in effect
guaranteeing any liability or obligation of any other Person in any manner, whether directly or
indirectly, including any agreement to indemnify or hold harmless any other Person, any performance
bond or other suretyship arrangement and any other form of assurance against loss, except
endorsement of negotiable or other instruments for deposit or collection in the ordinary course of
business.

     “Hedging Contracts” means, interest rate swap agreements, interest rate cap agreements and
interest rate collar agreements, or any other agreements or arrangements entered into between the
Company and any Lender and designed to protect the Company against fluctuations in interest rates
or currency exchange rates.

     “Hedging Obligations” means, with respect to the Company, all liabilities of the Company under
Hedging Contracts permitted under the Credit Agreement.

     “Holder” means a Person in whose name a Note is registered.

     “IAI Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing
the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and
registered in the name of the Depositary or its nominee that will be issued in a denomination equal
to the outstanding principal amount of the Notes sold to Institutional Accredited Investors.

5

 

     “Indebtedness” means, as to any Person at any time, any and all indebtedness, obligations or
liabilities (whether matured or unmatured, liquidated or unliquidated, direct or indirect, absolute
or contingent, or joint or several) of such Person for or in respect of: (i) borrowed money, (ii)
amounts raised under or liabilities in respect of any note purchase or acceptance credit facility,
(iii) reimbursement obligations (contingent or otherwise) under any letter of credit, currency swap
agreement, interest rate swap, cap, collar or floor agreement or other interest rate management device, (iv) any other
transaction (including forward sale or purchase agreements, capitalized leases and conditional
sales agreements) having the commercial effect of a borrowing of money entered into by such Person
to finance its operations or capital requirements (but not including trade payables and accrued
expenses incurred in the ordinary course of business which are not represented by a promissory note
or other evidence of indebtedness and which are not more than ninety (90) days past due), or (v)
any Guaranty of Indebtedness for borrowed money.

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

     “Indenture Documents” means, collectively, this Indenture, the Notes, the Guarantees and the
Collateral Agreements.

     “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through
a Participant.

     “Initial Notes” means the first $80,000,000 aggregate principal amount of Notes issued under
this Indenture on the date hereof.

     “Institutional Accredited Investor” means an institution that is an “accredited investor” as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

     “Intercreditor Agreement” means the Intercreditor Agreement, to be entered into concurrently
with the Credit Agreement, among the Administrative Agent, the Collateral Agent, the Company and
the Guarantors, as the same may be amended, supplemented or modified from time to time.

     “Investments” means, with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the forms of loans (including guarantees or other
obligations), advances or capital contributions (excluding commission, travel and similar advances
to officers and employees made in the ordinary course of business), purchases or other acquisitions
for consideration of Indebtedness, Equity Interests or other securities, together with all items
that are or would be classified as investments on a balance sheet prepared in accordance with GAAP.

     “IP Security Agreement” means the Second Lien Patent, Trademark and Copyright Collateral
Assignment, dated as of the Issue Date, made by the Company and the Guarantors in favor of the
Collateral Agent, as amended or supplemented from time to time in accordance with its terms.

     “Issue Date” means the date on which Notes are first issued under this Indenture.

     “Law” means any law (including common law), constitution, statute, treaty, regulation, rule,
ordinance, opinion, release, ruling, order, injunction, writ, decree, bond, judgment, authorization
or approval, lien or award by or settlement agreement with any Official Body

     “Lender” has the meaning assigned to such term in the Credit Agreement.

6

 

     “Leverage Ratio” shall mean, as of the end of any date of determination, the ratio of (A)
consolidated Indebtedness of the Company and its Subsidiaries on such date to (B) Consolidated
EBITDA (i) for the four fiscal quarters then ending if such date is a fiscal quarter end or (ii)
for the four fiscal quarters most recently ended if such date is not a fiscal quarter end.

     “Lien” means any mortgage, deed of trust, pledge, lien, security interest, charge or other
encumbrance or security arrangement of any nature whatsoever, whether voluntarily or involuntarily
given, including any conditional sale or title retention arrangement, and any assignment, deposit
arrangement or lease intended as, or having the effect of, security and any filed financing
statement or other notice of any of the foregoing (whether or not a lien or other encumbrance is
created or exists at the time of the filing).

     “Loan Documents” has the meaning assigned to such term in the Credit Agreement.

     “Maintenance Capital Expenditures” means an amount equal to $10,000,000 plus a cumulative
amount equal to three percent (3%) of the acquisition value of equipment acquired during each
fiscal quarter commencing with the fiscal quarter ending December 31, 2008.

     “Material Adverse Change” means any set of circumstances or events which (a) has or could
reasonably be expected to have any material adverse effect whatsoever upon the validity or
enforceability of this Indenture or any other Collateral Agreement, (b) is or could reasonably be
expected to be material and adverse to the business, properties, assets, financial condition,
results of operations or prospects of the Obligors taken as a whole, (c) impairs materially or
could reasonably be expected to impair materially the ability of the Obligors taken as a whole to
duly and punctually pay or perform its Indebtedness, or (d) impairs materially or could reasonably
be expected to impair materially the ability of the Collateral Agent or the Trustee, to the extent
permitted, to enforce their legal remedies pursuant to this Indenture or any other Collateral
Agreement.

     “Multiemployer Plan” means any employee benefit plan which is a “multiemployer plan” within
the meaning of Section 4001(a)(3) of ERISA and to which the Borrower or any member of the ERISA
Group is then making or accruing an obligation to make contributions or, within the preceding five
Plan years, has made or had an obligation to make such contributions.

     “Non-Perfected Collateral” means any individual titled vehicle or equipment having an
acquisition value less than $100,000 on the Issue Date or the date of acquisition by such Obligor.

     “Non-U.S. Person” means a Person who is not a U.S. Person as defined under Regulation S of the
Securities Act.

     “Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes
shall be treated as a single class for all purposes under this Indenture, and unless the context
otherwise requires, all references to the “Notes” shall include the Initial Notes.

     “Obligations” means any principal, premium, if any, interest (including interest accruing on
or after the filing of any petition in bankruptcy or for reorganization, whether or not a claim for
post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses,
indemnifications, reimbursement obligations, damages, guarantees and other liabilities or amounts
payable under the documentation governing any Indebtedness or in respect thereto.

     “Obligors” means, collectively, the Company and the Guarantors.

7

 

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person.

     “Officers’ Certificate” means a certificate signed on behalf of the Company, as applicable, by
two Officers thereof, one of whom must be the principal executive officer, the principal financial
officer, the treasurer or the principal accounting officer thereof, that meets the requirements of
Section 11.05 hereof.

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

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Sections 11.04 and 11.05 hereof. The counsel may be an
employee of or counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Other Lender Provided Financial Service Product” has the meaning assigned to such term in the
Credit Agreement.

     “Participant” means, with respect to the Depositary, a Person who has an account with the
Depositary.

     “Permitted Investments” means:

     (i) direct obligations of the United States of America or any agency or instrumentality
thereof or obligations backed by the full faith and credit of the United States of America maturing
in twelve (12) months or less from the date of acquisition;

     (ii) commercial paper maturing in 180 days or less rated not lower than A-1, by Standard &
Poor’s or P-1 by Moody’s Investors Service, Inc. on the date of acquisition;

     (iii) demand deposits, time deposits or certificates of deposit maturing within one year in
commercial banks whose obligations are rated A-1, A or the equivalent or better by Standard &
Poor’s on the date of acquisition; and

     (iv) money market or mutual funds whose investments are limited to those types of investments
described in clauses (i)-(iii) above.

     “Permitted Liens” means:

     (i) Liens securing Indebtedness permitted under this Indenture and arising under the Credit
Agreement and the other Loan Documents and Liens for taxes, assessments, or similar charges,
incurred in the ordinary course of business and which are not yet due and payable;

     (ii) Pledges or deposits made in the ordinary course of business to secure payment of
workmen’s compensation, or to participate in any fund in connection with workmen’s compensation,
unemployment insurance, old-age pensions or other social security programs;

8

 

     (iii) Liens of mechanics, materialmen, warehousemen, carriers, or other like Liens, securing
obligations incurred in the ordinary course of business that are not yet due and payable and Liens
of landlords securing obligations to pay lease payments that are not yet due and payable or in
default;

     (iv) Good-faith pledges or deposits made in the ordinary course of business to secure
performance of bids, tenders, contracts (other than for the repayment of borrowed money) or leases,
not in excess of the aggregate amount due thereunder, or to secure statutory obligations, or
surety, appeal, indemnity, performance or other similar bonds required in the ordinary course of
business;

     (v) Encumbrances consisting of zoning restrictions, easements or other restrictions on the use
of real property, none of which materially impairs the use of such property or the value thereof,
and none of which is violated in any material respect by existing or proposed structures or land
use;

     (vi) Liens, security interests and mortgages in favor of the Collateral Agent for the benefit
of the Holders securing the Obligations;

     (vii) Liens on property leased by any Obligor or Subsidiary of an Obligor under capital and
operating leases permitted hereunder securing obligations of such Obligor or Subsidiary to the
lessor under such leases;

     (viii) Liens issued in connection with Section 4.05(a)(8);

     (ix) Any Lien existing on the date of this Indenture and described on Schedule 1.01,
or any other Lien that may arise in connection with a Permitted Refinancing;

     (x) Purchase Money Security Interests; provided that the aggregate amount of loans,
capital leases and deferred payments secured by such Purchase Money Security Interests shall not
exceed $10,000,000 (excluding for the purpose of this computation any loans or deferred payments
secured by Liens described on Schedule 1.01);

     (xi) Liens arising solely by virtue of any statutory or common law provision relating to the
Collateral Agent’s liens, rights of set-off or similar rights and remedies as to deposit accounts
or other funds maintained with a creditor depository institution; provided that (A) such
deposit account is not a dedicated cash collateral account and is not subject to restrictions
against access by the Obligors in excess of those set forth by regulations promulgated by the Board
of Governors of the Federal Reserve System, and (B) such deposit account is not intended by the
Obligors to provide collateral to the depository institution;

     (xii) Precautionary Liens filed by any lessor under any operating leases not prohibited under
this Indenture; and

     (xiii) The following, (A) if the validity or amount thereof is being contested in good faith
by appropriate and lawful proceedings diligently conducted so long as levy and execution thereon
have been stayed and continue to be stayed or (B) if a final judgment has not been entered and such
judgment continues unsatisfied and is not discharged within thirty (30) days after entry, and in
either case they do not affect the Collateral or, in the aggregate, materially impair the ability
of any Obligor to perform its Obligations hereunder or under the other Indenture Documents:

     (1) Claims or Liens for taxes, assessments or charges due and payable and
subject to interest or penalty; provided that the applicable Obligor
maintains such reserves or other appropriate provisions as shall be required by GAAP
and pays all such

9

 

taxes, assessments or charges forthwith upon the commencement of
proceedings to foreclose any such Lien;

     (2) Claims, Liens or encumbrances upon, and defects of title to, real or
personal property other than the Collateral, including any attachment of personal or
real property or other legal process prior to adjudication of a dispute on the
merits;

     (3) Claims or Liens of mechanics, materialmen, warehousemen, carriers, or other
statutory nonconsensual Liens; or

     (4) Liens resulting from final judgments.

     “Permitted Refinancing” means the refinancing, extension or renewal of any existing
Indebtedness that is set forth on Schedule 1.01(B) so long as such refinancing does not (i)
increase the principal amount of such Indebtedness; (ii) increase the secured amount of such
Indebtedness; (iii) include any additional assets as collateral for such Indebtedness; and (iv)
does not otherwise provide for any other significant change to the terms of such Indebtedness.

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

     “PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of
Title IV of ERISA or any successor.

     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section
3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is
sponsored or maintained by Borrower or any ERISA Affiliate or to which Borrower or any ERISA
Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or
other plan described in Section 4064(a) of ERISA, has made contributions at any times during the
immediately preceding five plan years.

     “Plan” means at any time an employee pension benefit plan (including a Multiple Employer Plan,
but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum
funding standards under Section 412 of the Code and either (i) is maintained by any member of the
ERISA Group for employees of any member of the ERISA Group or (ii) has at any time within the
preceding five years been maintained by any entity which was at such time a member of the ERISA
Group for employees of any entity which was at such time a member of the ERISA Group.

     “Pledge Agreement” means the Second Lien Pledge Agreement, dated as of the Issue Date, made by
the Company and the Guarantors in favor of the Collateral Agent, as amended or supplemented from
time to time in accordance with its terms.

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be
placed on all Notes issued under this Indenture except where otherwise permitted by the provisions
of this Indenture.

     “Purchase Money Security Interest” means Liens upon tangible personal property securing loans
or capital leases to any Obligor or Subsidiary of an Obligor or deferred payments by such Obligor
or Subsidiary for the purchase of such tangible personal property.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

10

 

     “QIB Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing
the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and
registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to
the outstanding principal amount of the Notes sold to QIBs.

     “Regulation S” means Regulation S promulgated under the Securities Act.

     “Regulation S Global Note” means a permanent Global Note in the form of Exhibit A hereto
bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of
and registered in the name of the Depositary or its nominee, issued in a denomination equal to the
outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

     “Relief Proceeding” means any proceeding seeking a decree or order for relief in respect of
any Obligor or Subsidiary of an Obligor in a voluntary or involuntary case under any applicable
bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect, or for the
appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator, conservator (or
similar official) of any Obligor or Subsidiary of an Obligor for any substantial part of its
property, or for the winding-up or liquidation of its affairs, or an assignment for the benefit of
its creditors.

     “Responsible Officer,” when used with respect to the Trustee, means any officer assigned by
the Trustee to administer this Indenture or, in the case of a successor trustee, an officer
assigned to the department, division or group performing the corporation trust work of such
successor and assigned to administer this Indenture.

     “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.

     “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

     “Restricted Investment” means an Investment other than a Permitted Investment.

     “Restricted Period” means the 40-day distribution compliance period as defined in Regulation
S.

     “Rule 144” means Rule 144 promulgated under the Securities Act.

     “Rule 144A” means Rule 144A promulgated under the Securities Act.

     “Rule 903” means Rule 903 promulgated under the Securities Act.

     “Rule 904” means Rule 904 promulgated under the Securities Act.

     “Second Lien Security Interest” means a valid and enforceable perfected security interest
under the Uniform Commercial Code in the Collateral which is subject only to Permitted Liens;
provided however that the Holders acknowledge that the security interest granted to
Holders by the Obligors on the Non-Perfected Collateral shall not be perfected.

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

     “Security Agreement” means the Second Lien Security Agreement, dated as of the Issue Date,
made by the Company and the Guarantors in favor of the Collateral Agent, as amended or supplemented
from time to time in accordance with its terms.

11

 

     “Senior Debt” means and includes (a) all principal indebtedness for loans now outstanding or
hereafter incurred, and all Letter of Credit reimbursement obligations now existing or hereafter
arising, under the Credit Agreement and the other Loan Documents; provided, however,
that the aggregate principal amount of such principal indebtedness and Letter of Credit
reimbursement obligations shall not exceed $325,000,000 at any time, (b) all interest accruing on
the Senior Debt described in the preceding clause (a) above, and (c) all other Obligations (as
defined in the Credit Agreement) (other than principal indebtedness and Letter of Credit
reimbursement obligations), whether now outstanding or hereafter incurred, for which the Company or
any Guarantor is responsible or liable as obligor, guarantor or otherwise under or pursuant to the
Credit Agreement and any other Loan Document.

     “Standard & Poor’s” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc.

     “Subsidiary” of any Person at any time shall mean any corporation, trust, partnership, any
limited liability company or other business entity (i) of which 50% or more of the outstanding
voting securities or other interests normally entitled to vote for the election of one or more
directors or trustees (regardless of any contingency which does or may suspend or dilute the voting
rights) is at such time owned directly or indirectly by such Person or one or more of such Person’s
Subsidiaries, or (ii) which is controlled or capable of being controlled by such Person or one or
more of such Person’s Subsidiaries.

     “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

     “Trustee” means Wilmington Trust FSB until a successor replaces it in accordance with the
applicable provisions of this Indenture and thereafter means the successor serving hereunder.

     “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities
Act.

Section 1.02
Other Definitions.

	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	“Authentication Order”

	 	 	2.02	 
	“Change of Control Offer”

	 	 	4.06	 
	“Change of Control Payment”

	 	 	4.06	 
	“Change of Control Purchase Date”

	 	 	4.06	 
	“Collateral Agent”

	 	Preamble

	“Compliance Certificate”

	 	 	4.03	 
	“DTC”

	 	 	2.03	 
	“Event of Default”

	 	 	6.01	 
	“Interest Payment Date”

	 	Exhibit A

	“Paying Agent”

	 	 	2.03	 
	“Record Date”

	 	Exhibit A

	“Registrar”

	 	 	2.03	 
	“Trustee”

	 	Preamble

Section 1.03 Incorporation by Reference of Trust Indenture
Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

12

 

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security Holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

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

     “obligor” on the Notes and the Guarantees means the Company and the Guarantors, respectively,
and any successor obligor upon the Notes and the Guarantees, respectively.

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

Section 1.04 Rules of Construction.

     Unless the context otherwise requires:

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

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

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the singular;

     (5) “will” shall be interpreted to express a command;

     (6) provisions apply to successive events and transactions; and

     (7) references to sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules adopted by the SEC from time
to time.

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating.

     (a) General. The Notes and the Trustee’s certificate of authentication will be substantially
in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by
law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The
Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

     The terms and provisions contained in the Notes will constitute, and are hereby expressly
made, a part of this Indenture and the Company, the Guarantors and the Trustee, by their execution
and delivery of this Indenture, expressly agree to such terms and provisions and to be bound
thereby. However, to the

13

 

extent any provision of any Note conflicts with the express provisions of
this Indenture, the provisions of this Indenture shall govern and be controlling.

     (b) Global Notes. Notes issued in global form will be substantially in the form of Exhibit A
hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the
Global Note” attached thereto). Notes issued in definitive form will be substantially in the form
of Exhibit A hereto (but without the Global Note Legend thereon and without the “Schedule of
Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such
of the outstanding Notes as will be specified therein and each shall provide that it represents the
aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby may from time to time be
reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a
Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the
direction of the Trustee, in accordance with instructions given by the Holder thereof as required
by Section 2.06 hereof.

Section 2.02 Execution and Authentication.

     At least one Officer must sign the Notes for the Company by manual or facsimile signature.

     If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated, the Note will nevertheless be valid.

     A Note will not be valid until authenticated by the manual signature of the Trustee. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture.

     The Trustee will, upon receipt of a written order of the Company signed by two Officers (an
“Authentication Order”), authenticate Notes for original issue that may be validly issued under
this Indenture. The aggregate principal amount of Notes outstanding at any time may not exceed the
aggregate principal amount of Notes authorized for issuance by the Company pursuant to one or more
Authentication Orders, except as provided in Section 2.07 hereof.

     The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of
the Company.

Section 2.03 Registrar and Paying Agent.

     The Company will maintain an office or agency in the United States where Notes may be
presented for registration of transfer or for exchange (“Registrar”) and an office or agency in the
United States where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a
register of the Notes and of their transfer and exchange. The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any
co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may
change any Paying Agent or Registrar without notice to any Holder. The Company will notify the
Trustee in writing of the name and address of any Agent not a party to this Indenture. If the
Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall
act as such. The Trustee will initially act as Paying Agent and Registrar. The Company or any of
its Subsidiaries may act as Paying Agent or Registrar.

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     Upon request by a Holder, the Company will use its reasonable efforts to appoint The
Depositary Trust Company (“DTC”) as Depositary with respect to the Global Notes, subject to
satisfaction of eligibility or other requirements of DTC with respect to such Holder.

     The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act
as Custodian with respect to the Global Notes.

Section 2.04 Paying Agent to Hold Money in Trust.

     The Company will require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held by the
Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and will
notify the Trustee of any default by the Company in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the
Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the
Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a
Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as
Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders
all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating
to the Company, the Trustee will serve as Paying Agent for the Notes.

Section 2.05 Holder Lists.

     The Trustee will preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA
§ 312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at least
ten Business Days before each interest payment date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require
of the names and addresses of the Holders of Notes and the Company shall otherwise comply with TIA
§ 312(a).

Section 2.06 Transfer and Exchange.

     (a) Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a
whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the
Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged
by the Company for Definitive Notes only if:

     (1) the Company delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 90 days after the date of such notice from the Depositary;

     (2) the Company in its sole discretion determines that the Global Notes (in whole but
not in part) should be exchanged for Definitive Notes and delivers a written notice to such
effect to the Trustee; provided that in no event shall the Regulation S Global Note
be exchanged by the Company for Definitive Notes prior to (A) the expiration of the
Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant
to Rule 903(b)(3)(ii)(B) under the Securities Act; or

     (3) there has occurred and is continuing a Default or Event of Default with respect to
the Notes.

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Upon the occurrence of any of the preceding events, Definitive Notes shall be issued in such names
as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in
whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and
delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this
Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of,
and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as
provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred
and exchanged as provided in Section 2.06(b) or (c) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Notes also will require compliance with either subparagraph (1) or (2)
below, as applicable, as well as one or more of the other following subparagraphs, as applicable:

     (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in
any Restricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend. No written orders or
instructions shall be required to be delivered to the Registrar to effect the transfers
described in this Section 2.06(b)(1).

     (2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either:

     (A) both:

     (1) a written order from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing the Depositary to credit
or cause to be credited a beneficial interest in another Global Note in an amount equal to
the beneficial interest to be transferred or exchanged; and

     (2) instructions given in accordance with the Applicable Procedures containing
information regarding the Participant account to be credited with such increase; or

     (B) both:

     (1) a written order from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing the Depositary to cause to
be issued a Definitive Note in an amount equal to the beneficial interest to be transferred
or exchanged; and

     (2) instructions given by the Depositary to the Registrar containing information
regarding the Person in whose name such Definitive Note shall be registered to effect the
transfer or exchange referred to in (1) above.

Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in
Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities
Act, the

16

 

Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section
2.06(h) hereof.

     (c) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest
in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form
of a beneficial interest in another Restricted Global Note if the transfer complies with the
requirements of Section 2.06(b)(2) above and the Registrar receives the following:

     (1) If the transferee will take delivery in the form of a beneficial interest in the
QIB Global Note, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (1) thereof;

     (2) if the transferee will take delivery in the form of a beneficial interest in the
Regulation S Global Note, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (2) thereof; and

     (3) if the transferee will take delivery in the form of a beneficial interest in the
IAI Global Note, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications, certificates and opinion of counsel required by item
(3) thereof, if applicable.

     (d) Transfer or Exchange of Beneficial Interests for Definitive Notes.

     (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If
in accordance with Section 2.06(a) a beneficial interest in a Restricted Global Note is to
be exchanged for a Restricted Definitive Note or transferred to a Person who takes delivery
thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of
the following documentation:

     (A) if the holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for a Restricted Definitive Note, a
certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof;

     (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (1) thereof;

     (C) if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (2)
thereof;

     (D) if such beneficial interest is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule
144, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(a) thereof;

     (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) or (C) above, a
certificate to

17

 

the effect set forth in Exhibit B hereto, including the certifications,
certificates and opinion of counsel required by item (3) thereof, if applicable;

     (F) if such beneficial interest is being transferred to the Company or any of
its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (G) if such beneficial interest is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute, and
the Trustee upon receipt of an Authentication Order shall authenticate and deliver to the
Person designated in the instructions a Definitive Note in the appropriate principal amount.
Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global
Note pursuant to this Section 2.06(d) shall be registered in such name or names and in such
authorized denomination or denominations as the holder of such beneficial interest shall
instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in
whose names such Notes are so registered. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section 2.06(d)(1) shall
bear the Private Placement Legend and shall be subject to all restrictions on transfer
contained therein.

     (e) Transfer and Exchange of Definitive Notes for Beneficial Interests.

     (1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If
any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial
interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a
Person who takes delivery thereof in the form of a beneficial interest in a Restricted
Global Note, then, upon satisfaction of any requirements of the Depositary with respect to
such transfer and upon receipt by the Registrar of the following documentation:

     (A) if the Holder of such Restricted Definitive Note proposes to exchange such
Note for a beneficial interest in a Restricted Global Note, a certificate from such
Holder in the form of Exhibit C hereto, including the certifications in item (1)(b)
thereof;

     (B) if such Restricted Definitive Note is being transferred to a QIB a
certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (1) thereof;

     (C) if such Restricted Definitive Note is being transferred to a Non-U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904, a
certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (2) thereof;

     (D) if such Restricted Definitive Note is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(a) thereof;

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     (E) if such Restricted Definitive Note is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D) of
this Section 2.06, a certificate to the effect set forth in Exhibit B hereto,
including the certifications, certificates and opinion of counsel required by item
(3) thereof, if applicable;

     (F) if such Restricted Definitive Note is being transferred to the Company or
any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (G) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(c)
thereof,

the Trustee will cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause (A) above, the
appropriate Restricted Global Note, in the case of clause (B) above, the QIB Global
Note, in the case of clause (C) above, the Regulation S Global Note, and in all
other cases, the IAI Global Note.

     (f) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder
of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(f), the
Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration
of transfer or exchange, the requesting Holder must present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form
satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in
writing. In addition, the requesting Holder must provide any additional certifications, documents
and information, as applicable, required pursuant to the following provisions of this Section
2.06(f).

     (1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

     (A) If the transfer will be made pursuant to Rule 144A, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (1) thereof;

     (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and

     (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications,
certificates and opinion of counsel required by item (3) thereof, if applicable.

     (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted
Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note
or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:

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     (A) any such transfer is effected pursuant to a registration statement in
accordance with the Securities Act;

     (B) the Registrar receives the following:

     (1) if the Holder of such Restricted Definitive Notes proposes to
exchange such Notes for an Unrestricted Definitive Note, a certificate from
such Holder in the form of Exhibit C hereto, including the certifications in
item (1)(d) thereof, or

     (2) if the Holder of such Restricted Definitive Note proposes to
transfer such Notes to a Person who shall take delivery thereof in the form
of an Unrestricted Definitive Note, a certificate from such Holder in the
form of Exhibit B hereto, including the certifications in item (3) thereof;

and, in each such case set forth in this subparagraph (B), an opinion of counsel in
form reasonably acceptable to the Company to the effect that such exchange or
transfer is in compliance with the Securities Act and state “blue-sky” laws and that
the restrictions on transfer contained herein and in the Private Placement Legend
are no longer required in order to maintain compliance with the Securities Act.

     (3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of
Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof
in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a
transfer, the Registrar shall register the Unrestricted Definitive Note pursuant to the
instructions from the Holder thereof.

     (g) Legends. The following legends will appear on the face of all Global Notes and Definitive
Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions
of this Indenture.

     (1) Private Placement Legend.

     (A) Except as permitted by this Section 2.06, each Global Note and each
Definitive Note (and all Notes issued in exchange therefor or substitution thereof)
shall bear the legend in substantially the following form:

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. THE HOLDER
OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A
NON-U.S. PURCHASER AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN
THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (B) IT IS AN INSTITUTIONAL
“ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF
RULE 501 UNDER THE SECURITIES

20

 

ACT, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE
DATE WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE
LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY OF
ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (C) TO THE EXTENT THE NOTES ARE ELIGIBLE FOR
RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM
NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D)
PURSUANT TO OFFERS AND SALES TO NON-U.S. PURCHASERS THAT OCCUR OUTSIDE THE UNITED
STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a)(1), (2),
(3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR
ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR,
FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION
WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,
SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO
CLAUSES (D), (E), OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT, AND IN EACH OF THE
FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE
OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE OR
TRANSFER AGENT.”

     (2) Global Note Legend. Each Global Note will bear a legend in substantially the
following form:

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THIS INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
(1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THIS INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
NOT IN PART PURSUANT TO SECTION 2.06(a) OF THIS INDENTURE, (3) THIS GLOBAL NOTE MAY
BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THIS
INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH
THE PRIOR WRITTEN CONSENT OF SUPERIOR WELL SERVICES, INC.

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UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK)
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be
returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any
time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the
Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note will be
increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

     (i) General Provisions Relating to Transfers and Exchanges.

     (1) To permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Notes and Definitive Notes upon receipt of an
Authentication Order in accordance with Section 2.02 hereof.

     (2) No service charge will be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10,
3.06, 4.06 and 9.05 hereof).

     (3) The Registrar will not be required to register the transfer of or exchange of any
Note selected for redemption in whole or in part, except the unredeemed portion of any Note
being redeemed in part.

     (4) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes will be the valid obligations of the Company,

22

 

evidencing the same debt, and entitled to the same benefits under this Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

     (5) Neither the Registrar nor the Company will be required:

     (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any selection
of Notes for redemption under Section 3.02 hereof and ending at the close of
business on the day of selection;

     (B) to register the transfer of or to exchange any Note selected for redemption
in whole or in part, except the unredeemed portion of any Note being redeemed in
part; or

     (C) to register the transfer of or to exchange a Note between a record date and
the next succeeding interest payment date.

     (6) Prior to due presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of
principal of and interest on such Notes and for all other purposes, and none of the Trustee,
any Agent or the Company shall be affected by notice to the contrary.

     (7) The Trustee will authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.02 hereof.

     (8) All certifications, certificates and opinions of counsel required to be submitted
to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or
exchange may be submitted by facsimile.

Section 2.07 Replacement Notes.

     If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of any Note, the Company will issue
and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if
the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond
must be supplied by the Holder that is sufficient in the judgment of the Trustee or the Company, as
applicable, to protect the Company, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer if a Note is replaced. The Company and the Trustee may charge for
its expenses in replacing a Note.

     Every replacement Note is an additional obligation of the Company and will be entitled to all
of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.

Section 2.08 Outstanding Notes.

     The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions hereof, and those described
in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does
not cease to be outstanding because the Company or an Affiliate of the Company holds the Note.

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     If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser.

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

     If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on and after that date such Notes will be deemed to be no longer outstanding and will cease to
accrue interest.

Section 2.09 Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by the Company or any Guarantor, or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or any Guarantor, will be considered as though not outstanding, except that for the
purposes of determining whether the Trustee will be protected in relying on any such direction,
waiver or consent, only Notes that a Responsible Officer of the Trustee knows are so owned will be
so disregarded.

Section 2.10 Temporary Notes.

     Until certificates representing Notes are ready for delivery, the Company may prepare and the
Trustee, upon receipt of an Authentication Order, will authenticate temporary Notes. Temporary
Notes will be substantially in the form of certificated Notes but may have variations that the
Company considers appropriate for temporary Notes and as may be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company will prepare and the Trustee will authenticate
definitive Notes in exchange for temporary Notes.

     Holders of temporary Notes will be entitled to all of the benefits of this Indenture.

Section 2.11 Cancellation.

     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent will forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else will cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and will dispose of the
Notes in accordance with its policies (subject to the record retention requirement of the Exchange
Act). Certification of the disposition of all canceled Notes will be delivered to the Company from
time to time upon request. The Company may not issue new Notes to replace Notes that it has paid
or that have been delivered to the Trustee for cancellation.

Section 2.12 Defaulted Interest.

     The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and interest (including principal and interest that has been
accelerated) at the rate equal to Applicable Interest Rate plus 2.0% per annum, to the extent
lawful; it will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period)
at the same rate, to the extent lawful, to the Persons who are Holders on a subsequent special
record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The
Company will notify the Trustee in writing of the amount of defaulted interest proposed to be paid
on each Note and the date of the proposed payment. The

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Company will fix or cause to be fixed each
such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days
before the special record date, the Company (or, upon the written request of the
Company, the Trustee in the name and at the expense of the Company) will mail or cause to be
mailed to Holders a notice that states the special record date, the related payment date and the
amount of such interest to be paid.

ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01 Notices to Trustee.

     If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it must furnish to the Trustee, at least 30 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth:

     (1) the clause of this Indenture pursuant to which the redemption shall occur;

     (2) the redemption date;

     (3) the principal amount of Notes to be redeemed; and

     (4) the redemption price.

Section 3.02 Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes
for redemption as follows:

     (1) If the relevant Notes are listed on any national securities exchange, in compliance
with the requirements of the principal national securities exchange on which the Notes are
listed; or

     (2) if the relevant Notes are not listed on any national securities exchange, on a pro
rata basis subject to the minimum authorized denominations for Notes hereunder.

     In the case of partial redemptions, the Trustee will promptly notify the Company of the
principal amount of each Note to be redeemed. No Notes of $2,000 or less may be redeemed in part.
Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in
excess thereof, except that if all of the Notes of a Holder are to be redeemed, the entire
outstanding amount of Notes held by such Holder, even if not in a multiple of $1,000, shall be
redeemed. Provisions of this Indenture that apply to Notes called for redemption also apply to
portions of Notes called for redemption.

Section 3.03 Notice of Redemption.

     Subject to the provisions of Section 3.09 hereof, at least 30 days but not more than 60 days
before a redemption date, the Company will mail or cause to be mailed, by first class mail, a
notice of redemption to each Holder whose Notes are to be redeemed at its registered address. The
notice will identify the Notes to be redeemed and will state:

     (1) the redemption date;

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     (2) the redemption price;

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

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

     (5) that, unless the Company defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the redemption date;

     (6) the paragraph of the Notes and/or Section of this Indenture pursuant to which the
Notes called for redemption are being redeemed;

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

     (8) if the redemption or notice thereof is subject to one or more conditions, a
statement to such effect and the condition or conditions precedent.

In addition, if any Note is to be redeemed in part only, the notice of redemption that relates to
that Note will state the portion of the principal amount of that Note that is to be redeemed. At
the Company’s request, the Trustee will give the notice of redemption in the Company’s name and at
its expense; provided, however, that the Company has delivered to the Trustee, at
least 45 days prior to the redemption date, an Officers’ Certificate requesting that the Trustee
give such notice and setting forth the information (or a shorter period as agreed to by the
Trustee) to be stated in such notice as provided in this Section 3.03 above.

Section 3.04 Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price,
except that a notice of redemption may be subject to any conditions stated in the redemption
notice.

Section 3.05 Deposit of Redemption Price.

     No later than 10:00 Eastern Time on the redemption date, subject to any conditions to
redemption being met, the Company will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption price of and accrued interest on all Notes to be redeemed on that
date. The Trustee or the Paying Agent will promptly return to the Company any money deposited with
the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption price of, and accrued interest on, all Notes to be redeemed.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption date, interest will cease to accrue on the Notes or the portions of Notes called for
redemption. If a Note is redeemed on or after an interest record date but on or prior to the
related interest payment date, then any accrued and unpaid interest shall be paid to the Person in
whose name such Note was registered at the close of business on such record date. If any Note
called for redemption is not so paid upon surrender for redemption because of the failure of the
Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal,
from the redemption date until such principal is

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paid, and to the extent lawful on any interest not
paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01
hereof.

Section 3.06 Notes Redeemed in Part.

     A new Note in principal amount equal to the unredeemed portion of the original Note will be
issued in the name of a Holder of Notes upon cancellation of the original Note.

Section 3.07 Optional Redemption.

     (a) The Notes shall be redeemable at the option of the Company at any time or from time to
time, after giving the notice required pursuant to Section 3.03 hereof, at a redemption price equal
to the 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon, to the
applicable redemption date (subject to the right of Holders of record on the relevant Record Date
to receive interest due on an Interest Payment Date that is on or prior to the redemption date).

     (b) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof.

Section 3.08 Mandatory Redemption.

     The Company is not required to make mandatory redemption or sinking fund payments with respect
to the Notes.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Notes.

     The Company will pay or cause to be paid the principal of, premium, if any, and interest on,
the Notes on the dates and in the manner provided in this Indenture and the Notes. Principal,
premium, if any, and interest will be considered paid on the date due if the Paying Agent, if other
than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money
deposited by the Company in immediately available funds and designated for and sufficient to pay
all principal, premium, if any, and interest then due.

Section 4.02 Maintenance of Office or Agency.

     The Company will maintain an office or agency in the United States (which may be an office of
the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be
surrendered for registration of transfer or for exchange and where notices and demands to or upon
the Company in respect of the Notes and this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Company fails to maintain any such required office or agency or fails
to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at a Corporate Trust Office of the Trustee. Such office shall
initially be at Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware
19890-0001, Attention: Corporate Capital Markets.

     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind

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such designations. The Company will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency.

     The Company hereby designates a Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03 hereof.

Section 4.03 Reporting Requirements.

     The Company and the Guarantors will furnish or cause to be furnished to the Trustee and to any
Holder (together with its Affiliates) of a majority in aggregate principal amount of the Notes then
outstanding.

     (a) Quarterly Financial Statements. As soon as available and in any event within
forty-five (45) calendar days after the end of each of the first three fiscal quarters in each
fiscal year, financial statements of the Company and its Subsidiaries, consisting of a consolidated
and consolidating balance sheet as of the end of such fiscal quarter and related consolidated and
consolidating statements of income, stockholders’ equity and cash flows for the fiscal quarter then
ended and the fiscal year through that date, all in reasonable detail and certified (subject to
normal year-end audit adjustments) by the Chief Executive Officer, President or Chief Financial
Officer of the Company as having been prepared in accordance with GAAP, consistently applied, and
setting forth in comparative form the respective financial statements for the corresponding date
and period in the previous fiscal year.

     (b) Annual Financial Statements. As soon as available and in any event within ninety
(90) days after the end of each fiscal year of the Company and its Subsidiaries, financial
statements of the Company consisting of a consolidated and consolidating balance sheet as of the
end of such fiscal year, and related consolidated and consolidating statements of income,
stockholders’ equity and cash flows for the fiscal year then ended, all in reasonable detail and
setting forth in comparative form the financial statements as of the end of and for the preceding
fiscal year, and certified by independent certified public accountants.

     (c) Certificate of the Company. Concurrently with the financial statements of the
Company furnished pursuant to Sections 4.03(a) and Section 4.03(b), a certificate (each a
“Compliance Certificate”) of the Company signed by the Chief Executive Officer, President or Chief
Financial Officer of the Company, in the form of Exhibit G.

     (d) Notices of Default. Promptly after any Officer of the Obligors has learned of the
occurrence of an Event of Default or Default, a certificate signed by an Authorized Officer setting
forth the details of such Event of Default or Default and the action which such Obligor proposes to
take with respect thereto. Delivery of such reports, information and documents to the Trustee
under this Section 4.03 is for informational purposes only, and the Trustee’s receipt of such shall
not constitute constructive notice of any information contained therein or determinable from
information therein, including the Obligor’s compliance with any of its covenants hereunder (as to
which the Trustee is entitled to rely exclusively on Officers’ Certificate).

Section 4.04 Affirmative Covenants.

     (a) Preservation of Existence, Etc. Each of the Obligors shall, and shall cause each
of its Subsidiaries to, maintain its legal existence as a corporation, limited partnership or
limited liability company and its license or qualification and good standing in each jurisdiction
in which its ownership or lease of property or the nature of its business makes such license or
qualification necessary, except (i) as

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otherwise expressly permitted in the Credit Agreement or
(ii) where failure to maintain such qualification or license would not result in a Material Adverse
Change.

     (b) Payment of Liabilities, Including Taxes, Etc. Each of the Obligors shall, and
shall cause each of its Subsidiaries to, duly pay and discharge all liabilities to which it is
subject or which are asserted against it, promptly as and when the same shall become due and
payable, including all taxes, assessments and governmental charges upon it or any of its
properties, assets, income or profits, prior to the date on which penalties attach thereto, except
to the extent that such liabilities, including taxes, assessments or charges, are being contested
in good faith and by appropriate and lawful proceedings diligently conducted and for which such
reserve or other appropriate provisions, if any, as shall be required by GAAP shall have been made.

     (c) Maintenance of Insurance. Each of the Obligors shall, and shall cause each of its
Subsidiaries to, insure its properties and assets against loss or damage by fire and such other
insurable hazards as such assets are commonly insured (including fire, extended coverage, property
damage, workers’ compensation, public liability and business interruption insurance) and against
other risks (including errors and omissions) in such amounts as similar properties and assets are
insured by prudent companies in similar circumstances carrying on similar businesses, and with
reputable and financially sound insurers, including self-insurance to the extent customary. The
Obligors shall comply with the covenants and provide the endorsement set forth on Schedule
4.04(C) relating to property and related insurance policies covering the Collateral.

     (d) Maintenance of Properties and Leases. Each of the Obligors shall, and shall cause
each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear
and tear excepted) in accordance with the general practice of other businesses of similar character
and size, all of those properties useful or necessary to its business, and from time to time, such
Obligor will make or cause to be made all appropriate repairs, renewals or replacements thereof.

     (e) Keeping of Records and Books of Account. The Company shall, and shall cause each
Subsidiary of the Company to, maintain and keep proper books of record and account which enable the
Obligors to issue financial statements in accordance with GAAP and as otherwise required by
applicable Laws of any Official Body having jurisdiction over the Company or any Subsidiary of the
Company, and in which full, true and correct entries shall be made in all material respects of all
its dealings and business and financial affairs.

     (f) Compliance with Laws; Use of Proceeds. Each Obligor shall, and shall cause each
of its Subsidiaries to, comply with all applicable Laws, including all Environmental Laws, in all
respects; provided that it shall not be deemed to be a violation of this Section 4.04(f) if
any failure to comply with any Law would not in the aggregate constitute a Material Adverse Change.
The Obligors will use the proceeds of the Notes only in accordance with and as permitted by
applicable Law.

     (g) Further Assurances. Each of the Obligors shall, from time to time, at its
expense, faithfully preserve and protect the Collateral Agent’s Lien on and security interest in
the Collateral and all other real and personal property of the Obligors whether now owned or
hereafter acquired as a continuing perfected Lien, subject only to Permitted Liens,
provided however that the Holders acknowledge that the security interest granted to
Holders by the Obligors on the Non-Perfected Collateral shall not be perfected, and shall do such
other acts and things as the Collateral Agent in its sole discretion may deem necessary or
advisable from time to time at the direction of Holders or after an Event of Default in order to
preserve, perfect and protect the Liens granted under the Indenture Documents and to exercise and
enforce its rights and remedies thereunder with respect to the Collateral.

29

 

Section 4.05 Negative Covenants.

     (a) Indebtedness. Each of the Obligors shall not, and shall not permit any of its
Subsidiaries to, at any time create, incur, assume or suffer to exist any Indebtedness, except:

     (1) Indebtedness under the Indenture Documents;

     (2) Senior Debt;

     (3) Existing Indebtedness as set forth on Schedule 1.01(A) (including any
Permitted Refinancing thereof);

     (4) Capitalized and operating leases as and to the extent permitted hereunder;

     (5) Indebtedness secured by Purchase Money Security Interests; provided that
the aggregate amount of loans, capital leases and deferred payments secured by such Purchase
Money Security Interests shall not exceed $10,000,000 (excluding for the purpose of this
computation any loans or deferred payments secured by Liens described on Schedule
1.1(P));

     (6) Indebtedness of an Obligor which is subordinated to the Notes;

     (7) Any (i) Hedging Obligations or (ii) Indebtedness under any Other Lender Provided
Financial Services Product;

     (8) Additional Indebtedness in an aggregate amount not to exceed $150,000,000,
provided that such Indebtedness is incurred in connection with (including
refinancings of or an exchange for preferred stock issued in connection with) the
acquisition of all or substantially all of the assets of Diamondback to the extent permitted
under the Credit Agreement;

     (9) Guarantees of any Indebtedness permitted under this Section 4.05(a);

     (10) Trade payable and accrued expenses incurred in the ordinary course of business
which are not represented by a promissory note or other evidence of indebtedness which are
more than ninety (90) days past due; and

     (11) To the extent not otherwise permitted under this Section 4.05(a), any Indebtedness
permitted under the Credit Agreement (including by reason of any waiver of any provision
thereof).

     (b) Liens. Each of the Obligors shall not, and shall not permit any of its
Subsidiaries to, at any time create, incur, assume or suffer to exist any Lien on any of its
property or assets, tangible or intangible, now owned or hereafter acquired, or agree or become
liable to do so, except Permitted Liens and, to the extent not otherwise permitted under this
Section 4.05(b), Liens permitted under the Credit Agreement (including by reason of any waiver of
any provision thereof).

     (c) Guaranties. Each of the Obligors shall not, and shall not permit any of its
Subsidiaries to, at any time, directly or indirectly, become or be liable in respect of any
Guaranty, or assume, guarantee, become surety for, endorse or otherwise agree, become or remain
directly or contingently liable upon or with respect to any obligation or liability of any other
Person, except for Guaranties of Indebtedness of the Obligors permitted hereunder and, to the
extent not otherwise permitted under this Section 4.05(c),

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Guaranties permitted under the Credit Agreement (including by reason of any waiver of any
provision thereof).

     (d) Loans and Investments. Each of the Obligors shall not, and shall not permit any
of its Subsidiaries to, at any time make or suffer to remain outstanding any loan or advance to, or
purchase, acquire or own any stock, bonds, notes or securities of, or any partnership interest
(whether general or limited) or limited liability company interest in, or any other investment or
interest in, or make any capital contribution to, any other Person, or agree, become or remain
liable to do any of the foregoing, except:

     (1) trade credit extended on usual and customary terms in the ordinary course of
business;

     (2) advances to employees to meet expenses incurred by such employees in the ordinary
course of business;

     (3) Permitted Investments;

     (4) loans, advances and investments in other Obligors;

     (5) investments existing as of the Issue Date and as set forth on Schedule
4.05(D);

     (6) investments or interests (debt or equity) received from Persons other than
Affiliates as a result of claims against any such Persons in any Relief Proceeding
pertaining to any such Person;

     (7) extensions of credit in the nature of accounts receivable, goods receivable or
notes receivable arising from the sale or lease off goods or services or purchase of
supplies, equipment or other goods in the ordinary course of business;

     (8) prepayments of inventory and supplies made in the ordinary course of business;

     (9) loans and advances for travel and entertainment expenses, relocation costs and
similar purposes to officers and employees of the Obligors, all of which are incurred in the
ordinary course of business, up to a maximum of $100,000 to any officer or employee at any
one time outstanding and up to a maximum of $300,000 in the aggregate at any one time
outstanding; and

     (10) to the extent not otherwise permitted under this Section 4.05(d), loans and
investments permitted under the Credit Agreement (including by reason of any waiver of any
provision thereof).

     (e) Dividends and Related Distributions. Each of the Obligors shall not, and shall
not permit any of its Subsidiaries to, make or pay, or agree to become or remain liable to make or
pay, any dividend or other distribution of any nature (whether in cash, property, securities or
otherwise) on account of or in respect of its shares of capital stock, partnership interests or
limited liability company interests or on account of the purchase, redemption, retirement or
acquisition of its shares of capital stock (or warrants, options or rights therefor), partnership
interests or limited liability company interests; provided, however, so long as no
Default or Event of Default has occurred and is continuing or would be caused thereby, (i) the
Company may make dividend payments or other distributions to its shareholders, (ii) the other
Obligors may make dividend payments or other distributions to the Company, and (iii) to the extent
not otherwise permitted under this Section 4.05(e), the Obligors may make any dividend payments or
other

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distributions to the Company and its shareholders that are permitted under the Credit
Agreement (including by reason of any waiver of any provision thereof).

     (f) Dispositions of Assets or Subsidiaries. Each of the Obligors shall not, and shall
not permit any of its Subsidiaries to, sell, convey, assign, lease, abandon or otherwise transfer
or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or
intangible (including sale, assignment, discount or other disposition of accounts, contract rights,
chattel paper, equipment or general intangibles with or without recourse or of capital stock,
shares of beneficial interest, partnership interests or limited liability company interests of a
Subsidiary of such Obligor), except:

     (1) transactions involving the sale of inventory in the ordinary course of business;

     (2) any sale, transfer or lease of assets in the ordinary course of business which are
no longer necessary or required in the conduct of such Obligor’s or such Subsidiary’s
business;

     (3) any sale, transfer or lease of assets by any wholly owned Subsidiary of such
Obligor to another Obligor;

     (4) any sale, transfer or lease of assets in any fiscal year in an aggregate amount not
to exceed $7,500,000 in such fiscal year;

     (5) any sale, transfer or lease of assets in the ordinary course of business which are
replaced by substitute assets acquired or leased; provided such substitute assets
are subject to the Holder’s Second Lien Security Interest to the extent that the assets
being replaced were subject to the Second Lien Security Interest;

     (6) so long as no Event of Default or Default exists, the sale, transfer or disposition
of any Subsidiary of any Obligor;

     (7) so long as no Event of Default or Default exists, the dissolution and liquidation
of any Subsidiary of any Obligor;

     (8) any disposition of assets resulting from the bona fide exercise by an Official Body
of its actual power of eminent domain or other disposition required by applicable Law; and

     (9) To the extent not otherwise permitted under this Section 4.05(g), the Obligors may
make and permit their Subsidiaries to make any disposition of assets that are permitted
under the Credit Agreement (including by reason of any waiver of any provision thereof).

     (g) Affiliate Transactions. Each of the Obligors shall not, and shall not permit any
of its Subsidiaries to, enter into or carry out any transaction (including purchasing property or
services from or selling property or services to any Affiliate of any Obligor or other Person)
unless such transaction:

     (1) is set forth on Schedule 4.05(G);

     (2) is between or among the Obligors and does not involve an Affiliate that is not an
Obligor;

     (3) is not otherwise prohibited by this Indenture Agreement, is entered into in the
ordinary course of business upon fair and reasonable arm’s-length terms and conditions which
are fully disclosed to the Collateral Agent in writing and is in accordance with all
applicable Law, or

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     (4) To the extent not otherwise permitted under this Section 4.05(g), the Obligors may
make and permit their Subsidiaries to enter into any transactions with Affiliates that are
permitted under the Credit Agreement (including by reason of any waiver of any provision
thereof).

     (h) Additional Subsidiaries. Each of the Obligors shall not, and shall not permit any
of its Subsidiaries to own or create directly or indirectly any Subsidiaries other than (i) as
permitted under the Credit Agreement (including by reason of any waiver of any provision thereof)
or (ii) any Subsidiary which has joined this Indenture Agreement as Guarantor.

     (i) Continuation of or Change in Business. Each of the Obligors shall not, and shall
not permit any of its Subsidiaries to, engage in any business other than their current businesses,
substantially as conducted and operated by such Obligor or Subsidiary as of the Issue Date and any
other businesses that reasonably relates thereto and any business permitted under the Credit
Agreement (including by reason of any waiver of any provision thereof), and such Obligor or
Subsidiary shall not permit any material change in such business.

     (j) Fiscal Year. The Company shall not, and shall not permit any Subsidiary of the
Company to, change its fiscal year from the twelve-month period beginning January 1 and ending
December 31 except, to the extent not otherwise permitted under this Section 4.05(j), the Company
may and may permit its Subsidiaries to change its fiscal year as permitted under the Credit
Agreement (including by reason of any waiver of any provision thereof).

     (k) Issuance of Stock. Each of the Obligors shall not, and shall not permit any of
its Subsidiaries to, issue any additional shares of its capital stock or any options, warrants or
other rights in respect thereof; provided that (i) the Company shall be permitted to issue
additional shares of its capital stock and (ii) to the extent not otherwise permitted under this
Section 4.05(k), each Obligor may and may permit its Subsidiaries to issue any additional shares of
its capital stock or any options, warrants or other rights in respect thereof as permitted under
the Credit Agreement (including by reason of any waiver of any provision thereof).

     (l) Minimum Fixed Charge Coverage Ratio. The Obligors shall not permit the Fixed
Charge Coverage Ratio, calculated as of the end of each fiscal quarter for the most recent four (4)
fiscal quarters then ended, to be less than 1.75 to 1.0, except as otherwise permitted by the
Credit Agreement (including by reason of any waiver of any provision thereof).

     (m) Maximum Leverage Ratio. The Obligors shall not at any time permit the Leverage
Ratio calculated as of the end of each fiscal quarter for the fiscal quarter then ending to exceed
3.0 to 1.0, except as otherwise permitted by the Credit Agreement (including by reason of any
waiver of any provision thereof).

Section 4.06 Offer to Repurchase Upon Change of Control.

     (a) Upon the occurrence of a Change of Control, the Company will make an offer (a “Change of
Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral
multiple of $1,000 in excess thereof) of such Holder’s Notes on the terms set forth in this
Indenture; provided, however, that the Change of Control Offer is expressly
permitted under the Credit Agreement. In the Change of Control Offer, the Company will offer a
payment in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount
of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date
of settlement (the “Change of Control Purchase Date”), subject to the rights of Holders on the
relevant record date to receive interest due on an

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Interest Payment Date that is on or prior to the Change of Control Purchase Date. Within 30
days following any Change of Control, the Company will mail a notice to each Holder and the Trustee
describing the transaction or transactions that constitute the Change of Control and offering to
repurchase Notes as of the Change of Control Purchase Date specified in the notice, which date will
be no earlier than 30 days and no later than 60 days from the date such notice is mailed pursuant
to the procedures required by this Indenture and described in such notice. Such notice will also
state:

     (1) that the Change of Control Offer is being made pursuant to this Section 4.06 and
that all Notes tendered will be accepted for payment;

     (2) that any Note not tendered will continue to accrue interest;

     (3) that, unless the Company defaults in the payment of the Change of Control Payment,
all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue
interest after the Change of Control Purchase Date;

     (4) that Holders electing to have any Notes purchased pursuant to a Change of Control
Offer will be required to surrender the Notes, with the form entitled “Option of Holder to
Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Purchase Date;

     (5) that Holders will be entitled to withdraw their election if the Paying Agent
receives, not later than the close of business on the second Business Day preceding the
Change of Control Purchase Date, a telegram, telex, facsimile transmission or letter setting
forth the name of the Holder, the principal amount of Notes delivered for purchase, and a
statement that such Holder is withdrawing his election to have the Notes purchased; and

     (6) that Holders whose Notes are being purchased only in part will be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered, which
unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of
$1,000 in excess thereof.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control. To
the extent that the provisions of any securities laws or regulations conflict with the provisions
of this Section 4.06, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under this Section 4.06 by virtue of such
compliance.

     (b) On the Change of Control Purchase Date, the Company will, to the extent lawful and
permitted by the Credit Agreement and the Intercreditor Agreement, accept for payment all Notes or
portions of Notes properly tendered pursuant to the Change of Control Offer. Promptly thereafter
the Company will:

     (1) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered; and

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

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     Promptly after the Change of Control Purchase Date, the Paying Agent will mail to each Holder
of Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes are
then in global form, make such payment through the facilities of DTC), and the Trustee will
promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note
equal in principal amount to any unpurchased portion of the Notes surrendered, if any;
provided, that each new Note will be in a principal amount of $2,000 or an integral
multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change
of Control Offer on or as soon as practicable after the Change of Control Purchase Date.

     The provisions of this Section 4.06 will be applicable whether or not any other provisions of
this Indenture are applicable. Notwithstanding the other provisions of this Section 4.06, the
Company will not be required to make a Change of Control Offer upon a Change of Control if a third
party makes the Change of Control Offer in the manner, at the time and otherwise in compliance with
the requirements set forth in this Indenture applicable to a Change of Control Offer made by the
Company and purchases all Notes properly tendered and not withdrawn under the Change of Control
Offer.

ARTICLE 5

SUCCESSORS

Section 5.01 Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the properties or assets of the Company or the
Company’s Subsidiaries in a transaction that is subject to, and permitted under this Indenture, the
successor Person formed by such consolidation or into or with which the Company is or are merged or
to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall
succeed to, and be substituted for (so that from and after the date of such consolidation, merger,
sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this
Indenture referring to the “Company” shall refer instead to the successor Person and not to the
Company), and may exercise every right and power of the Company under this Indenture with the same
effect as if such successor Person had been named as the Company herein; provided,
however, that the predecessor Company shall not be relieved from the obligation to pay the
principal of and interest on the Notes except in the case of a sale of all of the assets of the
Company and its Subsidiaries, taken as a whole, in a transaction that is subject to, and that
complies with the provisions of, this Indenture.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

     Each of the following is an “Event of Default”:

     (1) failure by the Company to pay any interest on the Notes or any other amounts owing
hereunder or under the Indenture Documents within three (3) Business Days of the date on
which such interest or other amount becomes due in accordance with the terms hereof or
thereof;

     (2) default in the payment when due of the principal of, or premium, if any, on, the
Notes;

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     (3) failure by any Obligor, as applicable, to comply for 30 days after receipt of
written notice from the Trustee or the Holders of at least 25% in aggregate principal amount
of Notes with the provisions of Section 4.05 hereof;

     (4) any Obligor shall default in the observance or performance of any other covenant,
condition or provision hereof or of any other Indenture Document and such default shall
continue unremedied for a period of 60 days after receipt of written notice from the Trustee
or the Holders of at least 25% in aggregate principal amount of Notes;

     (5) a default or event of default shall occur at any time under the terms of any other
agreement involving borrowed money or the extension of credit or any other Indebtedness
under which any Obligor or Subsidiary of any Obligor may be obligated as a borrower or
guarantor in excess of $5,000,000 in the aggregate, and such breach, default or event of
default consists of the failure to pay (beyond any period of grace permitted with respect
thereto, whether waived or not) any Indebtedness when due (whether at stated maturity, by
acceleration or otherwise) or if such breach or default permits or causes the acceleration
of any Indebtedness (whether or not such right shall have been waived) or the termination of
any commitment to lend;

     (6) failure by the Company or any of its Subsidiaries to pay final judgments
aggregating in excess of $5.0 million, which judgments are not paid, discharged or stayed
(including a stay pending appeal) for a period of 30 days after the date of such final
judgment (or, if later, the date when payment is due pursuant to such judgment);

     (7) any of the Indenture Documents shall cease to be legal, valid and binding
agreements enforceable against the party executing the same or such party’s successors and
assigns (as permitted under the Indenture Documents) in accordance with the respective terms
thereof or shall in any way be terminated (except in accordance with its terms) or become or
be declared ineffective or inoperative or shall in any way be challenged or contested or
cease to give or provide the respective Liens, security interests, rights, titles,
interests, remedies, powers or privileges intended to be created thereby;

     (8) there shall occur any material uninsured damage to or loss, theft or destruction of
any of the Collateral in excess of $5,000,000 or the Collateral or any other of the
Obligors’ or any of their Subsidiaries’ assets are attached, seized, levied upon or
subjected to a writ or distress warrant; or such come within the possession of any receiver,
trustee, custodian or assignee for the benefit of creditors and the same is not cured within
thirty (30) days thereafter;

     (9) (i) an ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan
which has resulted or could reasonably be expected to result in liability of the Company
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate
amount in excess of $5,000,000 or (ii) the Company or any ERISA Affiliate fails to pay when
due, after the expiration of any applicable grace period, any installment payment with
respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan
in an aggregate amount in excess of $5,000,000;

     (10) (i) a Relief Proceeding shall have been instituted against any Obligor or
Subsidiary of an Obligor and such Relief Proceeding shall remain undismissed or unstayed and
in effect for a period of thirty (30) consecutive days or such court shall enter a decree or
order granting any of the relief sought in such Relief Proceeding, (ii) any Obligor or
Subsidiary of an Obligor institutes, or takes any action in furtherance of, a Relief
Proceeding, or (iii) any Obligor

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or any Subsidiary of an Obligor ceases to be solvent or admits in writing its inability
to pay its debts as they mature.

Section 6.02 Acceleration.

     In the case of an Event of Default specified in clause (10) of Section 6.01 hereof with
respect to the Company all outstanding Notes will become due and payable immediately without
further action or notice. If any other Event of Default occurs and is continuing, the Trustee or
the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare
all the Notes to be due and payable immediately. Upon any such declaration, the Notes shall become
due and payable immediately.

     The Holders of at least a majority in aggregate principal amount of the then-outstanding Notes
by written notice to the Trustee may, on behalf of the Holders, rescind an acceleration and its
consequences, if the rescission would not conflict with any judgment or decree and if all existing
Events of Default (except nonpayment of principal, interest or premium that has become due solely
because of the acceleration) has been cured or waived.

Section 6.03 Other Remedies.

     Subject to the Intercreditor Agreement, if an Event of Default occurs and is continuing, the
Trustee or the Collateral Agent may pursue any available remedy to collect the payment of
principal, premium, if any, and interest on the Notes or to enforce the performance of any
provision of the Notes or this Indenture.

     The Trustee or the Collateral Agent may maintain a proceeding even if it does not possess any
of the Notes or does not produce any of them in the proceeding. A delay or omission by the
Trustee, the Collateral Agent or any Holder of a Note in exercising any right or remedy accruing
upon an Event of Default shall not impair the right or remedy or constitute a waiver of or
acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law.

Section 6.04 Waiver of Past Defaults.

     The Holders of a majority in aggregate principal amount of the Notes then outstanding, by
notice to the Trustee, may, on behalf of the Holders of all of the Notes, waive any past Default or
Event of Default and its consequences under this Indenture, except a continuing Default or Event of
Default in the payment of principal of, or interest or premium, if any, on the Notes or in respect
of a covenant that cannot be amended without the consent of each Holder. Upon any such waiver,
such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to
have been cured for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon.

Section 6.05 Control by Majority.

     Subject to Section 2.08, the Intercreditor Agreement and applicable law, Holders of a majority
in aggregate principal amount of the then outstanding Notes may direct the time, method and place
of conducting any proceeding for exercising any remedy available to the Trustee or the Collateral
Agent or exercising any trust or power conferred on it. However, the Trustee or the Collateral
Agent may refuse to follow any direction that conflicts with law or this Indenture or that the
Trustee or the Collateral Agent determines may be unduly prejudicial to the rights of other Holders
of Notes or that may involve the Trustee or Collateral Agent in personal liability.

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Section 6.06 Limitation on Suits.

     Except to enforce the right to receive payment of principal, interest or premium, if any, when
due, and subject in all respects to the Intercreditor Agreement, no Holder of a Note may pursue any
remedy with respect to this Indenture or the Notes unless:

     (1) such Holder has previously given the Trustee or the Collateral Agent notice that an
Event of Default is continuing;

     (2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes
have requested the Trustee or the Collateral Agent to pursue the remedy;

     (3) such Holders have offered the Trustee and the Collateral Agent reasonable security
or indemnity against any loss, liability or expense;

     (4) the Trustee or the Collateral Agent has not complied with such request within 60
days after the receipt of the request and the offer of security or indemnity; and

     (5) Holders of a majority in aggregate principal amount of the then outstanding Notes
have not given the Trustee or the Collateral Agent a direction inconsistent with such
request within such 60-day period.

     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.

Section 6.07 Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal, premium, if any, and interest on the Note, on or after the respective
due dates expressed in the Note (including in connection with an offer to purchase), or to bring
suit for the enforcement of any such payment on or after such respective dates, shall not be
impaired or affected without the consent of such Holder; provided that a Holder shall not
have the right to institute any such suit for the enforcement of payment if and to the extent that
the institution or prosecution thereof or the entry of judgment therein would, under applicable
law, result in the surrender, impairment, waiver or loss of the Lien of this Indenture upon any
property subject to such Lien.

Section 6.08 Collection Suit by Trustee or Collateral Agent.

     Subject to the Intercreditor Agreement, if an Event of Default specified in Sections 6.01(1)
or (2) hereof occurs and is continuing, each of the Trustee and the Collateral Agent may recover
judgment (i) in its own name and (ii)(x) in the case of the Trustee, as trustee of an express trust
or (y) in the case of the Collateral Agent, as collateral agent on behalf of each of the Holders,
in each case against the Company or any other obligor on the Notes for the whole amount of
principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on overdue
principal and, to the extent lawful, interest and such further amount as shall be sufficient to
cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, the Collateral Agent and their respective agents and
counsel and any other amounts due the Trustee or the Collateral Agent under the Indenture
Documents.

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Section 6.09 Trustee and Collateral Agent May File Proofs of Claim.

     Subject to the Intercreditor Agreement, the Trustee and the Collateral Agent shall be
authorized to file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee or the Collateral Agent (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Trustee and the
Collateral Agent and their respective agents and counsel) and the Holders of the Notes allowed in
any judicial proceedings relative to the Company (or any other obligor upon the Notes), its
creditors or its property and, subject to the Intercreditor Agreement, shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee or the Collateral Agent, and in the event that the
Trustee or the Collateral Agent shall consent to the making of such payments directly to the
Holders, to pay to the Trustee or the Collateral Agent any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee and the Collateral Agent and
their respective agents and counsel, and any other amounts due the Trustee or the Collateral Agent
under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee or the Collateral Agent, its agents and counsel, and any
other amounts due the Trustee or the Collateral Agent under Section 7.07 hereof out of the estate
in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a
Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and
other properties that the Holders may be entitled to receive in such proceeding whether in
liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein
contained shall be deemed to authorize the Trustee or the Collateral Agent to authorize or consent
to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment
or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee or the
Collateral Agent to vote in respect of the claim of any Holder in any such proceeding.

Section 6.10 Priorities.

     Subject to the Intercreditor Agreement, if the Trustee or the Collateral Agent collects any
money or property pursuant to this Article 6 or any other Indenture Document, it shall pay out the
money or property in the following order:

     First: to the Trustee and the Collateral Agent and their respective agents and
attorneys for amounts due under Section 7.07 hereof, including payment of all compensation,
expenses and liabilities incurred, and all advances made, by the Trustee or the Collateral
Agent and the costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, and interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Notes for principal, premium, if any and
interest, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall
direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

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Section 6.11 Undertaking for Costs.

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

Section 6.12 Restoration of Rights and Remedies.

     If the Trustee, the Collateral Agent or any Holder has instituted any proceedings to enforce
any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for
any reason, or has been determined adversely to the Trustee, the Collateral Agent or to such
Holder, then and in every such case, subject to any determination in such proceeding, the Company,
the Trustee, the Collateral Agent and the Holders shall be restored severally and respectively to
their former positions hereunder and thereafter all rights and remedies of the Trustee, the
Collateral Agent and the Holders shall continue as though no such proceeding has been instituted.

Section 6.13 Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Notes in Section 2.07, no right or remedy herein conferred upon or
reserved to the Trustee, the Collateral Agent or to the Holders is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

Section 6.14 Delay or Omission not Waiver.

     No delay or omission of the Trustee, the Collateral Agent or of any Holder of any Note to
exercise any right or remedy accruing upon any Event of Default shall impair any such right or
remedy or constitute a waiver of any such Event of Default or in acquiescence therein, to the
extent permitted by law. Every right and remedy given by this Article or by law to the Trustee,
the Collateral Agent or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee, the Collateral Agent or by the Holders, as the case may be.

ARTICLE 7

TRUSTEE AND COLLATERAL AGENT

Section 7.01 Duties of Trustee and Collateral Agent.

     (a) If an Event of Default has occurred and is continuing, each of the Trustee and the
Collateral Agent will exercise such of the rights and powers vested in it by this Indenture or any
Collateral Agreement, and use the same degree of care and skill in its exercise, as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs.
All provisions of this Article Seven applicable to the Trustee shall also apply to the Collateral
Agent, whether or not a provision expressly so states.

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

     (1) the duties of the Trustee and the Collateral Agent will be determined solely by the
express provisions of this Indenture or any Collateral Agreement and the Trustee and the
Collateral Agent need perform only those duties that are specifically set forth in this
Indenture and no others, and no implied covenants or obligations shall be read into this
Indenture or any Collateral Agreement against the Trustee or the Collateral Agent; and

     (2) in the absence of bad faith on its part, the Trustee and the Collateral Agent may
conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon certificates or opinions furnished to the Trustee or the Collateral
Agent and conforming to the requirements of this Indenture or any Collateral Agreement.
However, the Trustee and the Collateral Agent will examine the certificates and opinions to
determine whether or not they conform to the requirements of this Indenture.

     (c) Each of the Trustee and the Collateral Agent may not be relieved from liabilities for its
own negligent action, its own negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

     (2) neither the Trustee nor the Collateral Agent will be liable for any error of
judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee
or the Collateral Agent was negligent in ascertaining the pertinent facts; and

     (3) neither the Trustee nor the Collateral Agent will be liable with respect to any
action it takes or omits to take in good faith in accordance with a direction received by it
pursuant to Section 6.05 hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee or the Collateral Agent is subject to paragraphs (a), (b), and (c)
of this Section 7.01.

     (e) No provision of this Indenture or any Collateral Agreement will require either the Trustee
or the Collateral Agent to expend or risk its own funds or incur any liability.

     (f) Neither the Trustee nor the Collateral Agent will be liable for interest on any money
received by it except as the Trustee or the Collateral Agent may agree in writing with the Company.
Money held in trust by the Trustee or the Collateral Agent need not be segregated from other funds
except to the extent required by law.

Section 7.02 Rights of Trustee and Collateral Agent.

     (a) The Trustee and the Collateral Agent may conclusively rely upon any document believed by
it to be genuine and to have been signed or presented by the proper Person. The Trustee and the
Collateral Agent need not investigate any fact or matter stated in the document.

     (b) Before the Trustee or the Collateral Agent acts or refrains from acting, it may require an
Officers’ Certificate or an Opinion of Counsel or both. Neither the Trustee nor the Collateral
Agent will be liable for any action it takes or omits to take in good faith in reliance on such
Officers’ Certificate or Opinion of Counsel. The Trustee and the Collateral Agent may consult with
counsel and the advice of such counsel or any Opinion of Counsel will be full and complete
authorization and protection from

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liability in respect of any action taken, suffered or omitted by it hereunder in good faith
and in reliance thereon.

     (c) Each of the Trustee and the Collateral Agent may act through its attorneys and agents and
will not be responsible for the misconduct or negligence of any agent appointed with due care.

     (d) Neither the Trustee nor the Collateral Agent will be liable for any action it takes or
omits to take in good faith that it believes to be authorized or within the rights or powers
conferred upon it by this Indenture or any Collateral Agreement.

     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company will be sufficient if signed by an Officer of the Company.

     (f) Neither the Trustee nor the Collateral Agent will be under any obligation to exercise any
of the rights or powers vested in it by this Indenture at the request or direction of any of the
Holders unless such Holders have offered to the Trustee and the Collateral Agent indemnity or
security satisfactory to it against the losses, liabilities and expenses that might be incurred by
it in compliance with such request or direction.

     (g) Neither the Trustee nor the Collateral Agent shall be deemed to have notice or be charged
with knowledge of any Default or Event of Default unless a Responsible Officer of the Trustee or
the Collateral Agent shall have actual knowledge thereof or the Trustee or the Collateral Agent
shall have received from the Company, any Guarantor or any other obligor upon the Notes or from any
Holder written notice thereof at its address set forth in Section 11.02 hereof, and such notice
references the Notes and this Indenture.

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

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

     (j) The permissive right of the Trustee or the Collateral Agent to take any action under this
Indenture or any Collateral Agreement shall not be construed as a duty to so act.

     (k) In the event the Trustee or the Collateral Agent receives inconsistent or conflicting
requests and indemnity from two or more groups of Holders, each representing less than a majority
in aggregate principal amount of the Notes then outstanding, the Trustee or the Collateral Agent,
in its sole discretion, may determine what action, if any, shall be taken.

Section 7.03 Individual Rights of Trustee and Collateral Agent.

     The Trustee or the Collateral Agent in its individual or any other capacity may become the
owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company
with the same rights it would have if it were not Trustee or the Collateral Agent. However, in the
event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90
days, apply to the SEC

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for permission to continue as Trustee (if this Indenture has been qualified under the TIA) or
resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to
Sections 7.10 and 7.11 hereof.

Section 7.04 Trustee’s and Collateral Agent’s Disclaimers.

     (a) Neither the Trustee nor the Collateral Agent will be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Notes, they shall not be
accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company
or upon the Company’s direction under any provision of this Indenture, they will not be responsible
for the use or application of any money received by any Paying Agent (other than itself as Paying
Agent), and they will not be responsible for any statement or recital herein or any statement in
the Notes, the Guarantees or any Collateral Agreements or any other document in connection with the
sale of the Notes or pursuant to this Indenture other than the Trustee’s certificate of
authentication.

     (b) Beyond the exercise of reasonable care in the custody thereof and the fulfillment of its
obligations under this Indenture and the Collateral Agreements, neither the Trustee nor the
Collateral Agent shall have a duty as to any Collateral in its possession or control or in the
possession or control of any agent or bailee or any income thereon or as to preservation of rights
against prior parties or any other rights pertaining thereto. Each of the Trustee and the
Collateral Agent shall be deemed to have exercised reasonable care in the custody of the Collateral
in its possession if the Collateral is accorded treatment substantially equal to that which it
accords its own property.

     (c) Neither the Trustee nor the Collateral Agent makes any representation as to and shall not
be responsible for the existence, genuineness, value, sufficiency or condition of any of the
Collateral or as to the security afforded or intended to be afforded thereby, hereby or by any
Collateral Agreement, or for the validity, perfection, priority or enforceability of the Liens or
security interests in any of the Collateral created or intended to be created by any of the
Collateral Agreements, whether impaired by operation of law or by reason of any action or omission
to act on its part hereunder, except to the extent such action or omission constitutes gross
negligence or willful misconduct on the part of the Trustee or the Collateral Agent, for the
validity or sufficiency of the Collateral, any Collateral Agreements or any agreement or assignment
contained in any thereof, for the validity of the title of the Company or any Guarantor to the
Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens
upon the Collateral or otherwise as to the maintenance of the Collateral. Neither the Trustee nor
the Collateral Agent shall have any duty to ascertain or inquire as to the performance or
observance of any of the terms of this Indenture or any Collateral Agreement by the Company or any
other Person that is a party thereto or bound thereby.

Section 7.05 Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if a Responsible Officer of the
Trustee has actual knowledge thereof or has received written notice thereof from the Company or any
Holder, the Trustee will mail to Holders of Notes a notice of the Default or Event of Default
within 10 days after it occurs (so long as such Default or Event of Default has not been cured or
remedied).

Section 7.06 Reports by Trustee to Holders of the Notes.

     (a) Within 60 days after each May 15 beginning with the May 15 following the Issue Date, and
for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief
report dated as of such reporting date that complies with TIA § 313(a) (but if no event described
in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need
be

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transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee will also
transmit by mail all reports as required by TIA § 313(c).

     (b) Within 90 days after the time of the release, or release and substitution of Collateral,
the Trustee will deliver to the Holders any report that may be required by TIA § 313(b)(1).

     (c) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by
the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which
the Notes are listed in accordance with TIA § 313(d). The Company will promptly notify the Trustee
in writing when the Notes are listed on any stock exchange.

Section 7.07 Compensation and Indemnity.

     (a) The Company will pay to the Trustee and the Collateral Agent from time to time
compensation for their acceptance of this Indenture and services hereunder in accordance with any
fee letter in existence between them from time to time. The Trustee’s and the Collateral Agent’s
compensation will not be limited by any law on compensation of a Trustee of an express trust. The
Company will reimburse the Trustee and the Collateral Agent promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by them in addition to the
compensation for their services. Such expenses will include the reasonable compensation,
disbursements and expenses of the Trustee’s and the Collateral Agent’s respective agents and
counsel.

     (b) The Company and the Guarantors will indemnify the Trustee and the Collateral Agent against
any and all losses, liabilities or expenses incurred by them arising out of or in connection with
the acceptance or administration of their duties under this Indenture and any Collateral Agreement,
including the costs and expenses of enforcing this Indenture and any Collateral Agreement against
the Company and the Guarantors (including this Section 7.07) and defending themselves against any
claim (whether asserted by the Company, the Guarantors, any Holder or any other Person) or
liability in connection with the exercise or performance of any of its powers or duties hereunder,
except to the extent any such loss, liability or expense may be attributable to its gross
negligence or bad faith. The Trustee and the Collateral Agent will notify the Company promptly of
any claim for which it may seek indemnity. Failure by the Trustee or the Collateral Agent so to
notify the Company will not relieve the Company or any of the Guarantors of their obligations
hereunder. The Company or such Guarantor will defend the claim and the Trustee and the Collateral
Agent will cooperate in the defense. The Trustee and the Collateral Agent may have separate
counsel and the Company will pay the reasonable fees and expenses of such counsel. Neither the
Company nor any Guarantor need pay for any settlement made without its consent, which consent will
not be unreasonably withheld.

     (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

     (d) When the Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(10) hereof occurs, the expenses and the compensation for the services (including
the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

     (e) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable.

     (f) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the
Trustee shall have a Lien prior to the Notes against all Collateral and other money or property
held or collected by the Trustee, in its capacity as Trustee.

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Section 7.08 Replacement of Trustee or Collateral Agent.

     (a) A resignation or removal of the Trustee or the Collateral Agent and appointment of a
successor Trustee or Collateral Agent will become effective only upon the successor Trustee’s or
Collateral Agent’s acceptance of appointment as provided in this Section 7.08.

     (b) Either the Trustee or the Collateral Agent may resign in writing at any time and be
discharged from the trust hereby created by so notifying the Company. The Holders of a majority in
aggregate principal amount of the then outstanding Notes may remove the Trustee or the Collateral
Agent by so notifying the Trustee or the Collateral Agent, as applicable, and the Company in
writing. The Company may remove the Trustee or the Collateral Agent, as applicable, if:

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

     (2) the Trustee or the Collateral Agent is adjudged a bankrupt or an insolvent or an
order for relief is entered with respect to the Trustee or the Collateral Agent under any
Bankruptcy Law;

     (3) a custodian or public officer takes charge of the Trustee or the Collateral Agent
or its property; or

     (4) the Trustee or the Collateral Agent becomes incapable of acting.

     (c) If the Trustee or the Collateral Agent resigns or is removed or if a vacancy exists in the
office of the Trustee or the Collateral Agent for any reason, the Company will promptly appoint a
successor Trustee or Collateral Agent. Within one year after the successor Trustee or Collateral
Agent takes office, the Holders of a majority in aggregate principal amount of the then outstanding
Notes may appoint a successor Trustee or Collateral Agent to replace the successor Trustee or
Collateral Agent appointed by the Company.

     (d) If a successor Trustee or Collateral Agent does not take office within 60 days after the
retiring Trustee or Collateral Agent resigns or is removed, the retiring Trustee or the retiring
Collateral Agent, as applicable, the Company, or the Holders of at least 10% in aggregate principal
amount of the then outstanding Notes may petition any court of competent jurisdiction for the
appointment of a successor Trustee or Collateral Agent.

     (e) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

     (f) A successor Trustee or Collateral Agent will deliver a written acceptance of its
appointment to the retiring Trustee or the retiring Collateral Agent and to the Company.
Thereupon, the resignation or removal of the retiring Trustee or the retiring Collateral Agent will
become effective, and the successor Trustee or the successor Collateral Agent will have all the
rights, powers and duties of the Trustee or the Collateral Agent under this Indenture. The
successor Trustee or the successor Collateral Agent will mail a notice of its succession to
Holders. The retiring Collateral Agent will promptly transfer all property held by it as
Collateral Agent to the successor Collateral Agent; provided all sums owing to the
Collateral Agent hereunder have been paid and subject to the Lien provided for in Section 7.07
hereof. Notwithstanding replacement of the Trustee or the Collateral Agent pursuant to this
Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the benefit of
the retiring Trustee or the retiring Collateral Agent.

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Section 7.09 Successor Trustee or Collateral Agent by Merger, etc.

     If the Trustee or Collateral Agent consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the successor
corporation without any further act will be the successor Trustee or Collateral Agent.

Section 7.10 Eligibility; Disqualification.

     There will at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

     This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

Section 7.11 Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated therein.

ARTICLE 8

[RESERVED]

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

     Notwithstanding Section 9.02 of this Indenture, from time to time the Company, the Guarantors,
the Trustee and, if such amendment, modification, waiver or supplement relates to any Collateral
Agreement, the Collateral Agent, without the consent of the Holders, may amend, modify or
supplement this Indenture, the Notes, the Guarantees and the Collateral Agreements:

     (1) to cure any ambiguity, defect or inconsistency;

     (2) to provide for uncertificated Notes in addition to or in place of certificated
Notes;

     (3) to provide for the assumption of the Company’s obligations to the Holders of the
Notes in the case of a merger or consolidation or sale of all of the Company’s properties or
assets;

     (4) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights of any Holder under
this Indenture, the Notes, the Guarantees or any Collateral Agreement;

     (5) in connection with any addition or release of Collateral permitted under the terms
of this Indenture or the Collateral Agreements;

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     (6) to add any additional Guarantor or to evidence the release of any Guarantor from
its Guarantee, in each case in accordance with the terms of this Indenture;

     (7) to comply with requirements of the SEC to effect or maintain qualifications of this
Indenture under the TIA; or

     (8) to evidence or provide for acceptance of appointment of a successor Trustee or
Collateral Agent.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the
Trustee or the Collateral Agent, as applicable, of the documents described in Section 7.02(b)
hereof, the Trustee or the Collateral Agent, as applicable, will join with the Company and the
Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the
terms of this Indenture and to make any further agreements and stipulations that may be therein
contained, but neither the Trustee nor the Collateral Agent will be obligated to enter into such
amended or supplemental indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

Section 9.02 With Consent of Holders of Notes.

     Except as provided below in this Section 9.02, the Company and the Trustee and the Collateral
Agent, as applicable, may amend or supplement this Indenture, the Notes and the Guarantees with the
consent of the Holders of at least a majority in aggregate principal amount of the Notes then
outstanding (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, Notes), and, subject to Sections 6.04 and 6.07 hereof, any
existing Default or Event of Default (other than a Default or Event of Default in the payment of
the principal of, premium, if any, or interest on, the Notes, except a payment default resulting
from an acceleration that has been rescinded) or compliance with any provision of this Indenture,
the Notes, the Collateral Agreements or the Guarantees may be waived, with the consent of the
Holders of a majority in aggregate principal amount of the then outstanding Notes voting as a
single class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, Notes). Section 2.08 and Section 2.09 hereof shall determine
which Notes are considered to be “outstanding” for purposes of this Section 9.02. However, without
the consent of each Holder affected (or 100% of the Noteholders in the case of (9) below), an
amendment, supplement or waiver may not (with respect to any Notes held by a non-consenting
Holder):

     (1) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver;

     (2) reduce the principal of or change the fixed maturity of any Note or alter or waive
any of the provisions with respect to the redemption or repurchase of the Notes (other than
the provisions of Section 4.06 hereof);

     (3) reduce the rate of or change the time for payment of interest on any Note;

     (4) waive a Default or Event of Default in the payment of principal of, or interest or
premium, if any, on, the Notes (except, in connection with a rescission of acceleration of
the Notes by the Holders of at least a majority in principal amount of the Notes, a waiver
of any payment default that resulted from such acceleration);

     (5) make any Note payable in currency other than that stated in the Notes;

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     (6) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Notes to receive payments of principal of, or interest
or premium, if any, on, the Notes (other than as permitted in clause (7) below);

     (7) waive a redemption or repurchase payment with respect to any Note (other than a
payment required by Section 4.06 hereof);

     (8) release any Guarantor from any of its obligations under its Guarantee or this
Indenture, except in accordance with the terms of this Indenture; or

     (9) make any change in the preceding amendment, supplement and waiver provisions.

Section 9.03 Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Notes will be set forth in an amended
or supplemental indenture that complies with the TIA as then in effect.

Section 9.04 Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note by written notice to the Trustee and the Company
received before the date on which the Trustee, and if such amendment, waiver or supplement relates
to any Collateral Agreement, the Collateral Agent, receives an Officers’ Certificate certifying
that the Holders of the requisite principal amount of Notes have consented (and not theretofore
revoked such consent) to the amendment, supplement or waiver. An amendment, supplement or waiver
becomes effective in accordance with its terms and thereafter binds every Holder.

     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver. If a record
date is fixed, then notwithstanding the provisions of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated proxies), and only those
Persons, shall be entitled to consent to such amendment or waiver or to revoke any consent
previously given, whether or not such Persons continue to be Holders after such record date.

Section 9.05 Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

     Failure to make the appropriate notation or issue a new Note will not affect the validity and
effect of such amendment, supplement or waiver.

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Section 9.06 Trustee and Collateral Agent to Sign Amendments, etc.

     The Trustee and/or the Collateral Agent, as applicable, shall execute any amendment,
supplement or waiver authorized pursuant to this Article Nine; provided that the Trustee or
the Collateral Agent, as the case may be, may, but shall not be obligated to, execute any such
amendment, supplement or waiver which adversely affects the rights, duties or immunities of the
Trustee or the Collateral Agent, as the case may be, under this Indenture or any Collateral
Agreement. The Trustee or the Collateral Agent, as the case may be, shall be fully protected in
relying upon, an Opinion of Counsel and an Officers’ Certificate each stating that the execution of
any amendment, supplement or waiver authorized pursuant to this Article Nine is authorized or
permitted by this Indenture. Such Opinion of Counsel shall not be an expense of the Trustee or the
Collateral Agent, as the case may be, and shall be paid for by the Company.

ARTICLE 10

SATISFACTION AND DISCHARGE

Section 10.01 Satisfaction and Discharge.

     This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder (except as to surviving rights of registration of transfer or exchange of the
Notes and as otherwise specified in this Indenture), and all Guarantees and Liens created pursuant
to the Collateral Agreements will be released, when:

     (1) either:

          (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that
have been replaced or paid and Notes for whose payment money has been deposited in trust and
thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or

          (b) all Notes that have not been delivered to the Trustee for cancellation have become
due and payable or will become due and payable within one year by reason of the mailing of a
notice of redemption or otherwise and the Company or any Guarantor has irrevocably deposited
or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of
the Holders, cash in U.S. dollars, Government Securities, or a combination thereof, in such
amounts as will be sufficient, without consideration of any reinvestment of interest, to pay
and discharge the entire Indebtedness on the Notes not delivered to the Trustee for
cancellation for principal, interest and premium, if any, to the date of maturity or
redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of the
deposit or will occur as a result of the deposit and the deposit will not result in a breach
or violation of, or constitute a default under, any other material agreement or instrument
to which the Company or any of its Subsidiaries is a party or by which the Company or any of
its Subsidiaries is bound;

     (3) the Company or any Guarantor has paid or caused to be paid all sums payable by it
under this Indenture; and

     (4) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or on the
redemption date, as the case may be.

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In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

     Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited
with the Trustee pursuant to subclause (b) of clause (1) of this Section 10.01, the provisions of
Section 10.02 hereof will survive. In addition, nothing in this Section 10.01 will be deemed to
discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction
and discharge of this Indenture.

Section 10.02 Application of Trust Money.

     All money deposited with the Trustee pursuant to Section 10.01 hereof shall be held in trust
and applied by it, in accordance with the provisions of the Notes and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited with the Trustee; but
such money need not be segregated from other funds except to the extent required by law.

     If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with this Article 10 hereof by reason of any legal proceeding or by reason of any order
or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01 hereof;
provided that if the Company has made any payment of principal of, premium, if any, or
interest on, any Notes because of the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of such Notes to receive such payment from the money or
Government Securities held by the Trustee or Paying Agent.

     Subject to applicable law, any money deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the principal of, premium, if any, or interest on,
any Note and remaining unclaimed for two years after such principal, premium, if any, or interest
has become due and payable shall be paid to the Company on its request or (if then held by the
Company) will be discharged from such trust; and the Holder of such Note will thereafter be
permitted to look only to the Company for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof,
will thereupon cease.

ARTICLE 11

MISCELLANEOUS

Section 11.01 Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA §318(c), the imposed duties will control.

Section 11.02 Notices.

     Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly
given if in writing and delivered in Person or by first class mail (registered or certified, return
receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery,
to the others’ address:

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If to the Company and/or any Guarantor:

SUPERIOR WELL SERVICES, INC.

1380 Rt. 286 — Suite 121

Indiana, Pennsylvania 15701

Attention: Thomas W. Stoelk

Fax: (724) 465-8907

If to the Trustee and/or the Collateral Agent:

Wilmington Trust FSB

50 South Sixth Street, Suite 1290

Drop Code 7100

Minneapolis, Minnesota 55402

Attention: Corporate Capital Markets — Superior Well Services Administrator

Fax: (612) 217-5651

     The Company, any Guarantor, the Trustee or the Collateral Agent, by notice to the others, may
designate additional or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) will be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by
facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery.

     Any notice or communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar, or in compliance with Applicable
Procedures in the case of Global Notes. Any notice or communication will also be so mailed to any
Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or
communication to a Holder or any defect in it will not affect its sufficiency with respect to other
Holders.

     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee
and the Collateral Agent at the same time.

     Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any
Note provides for notice of any event (including any notice of redemption) to a Holder of a Global
Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the
Depositary for such Note (or its designee), pursuant to the customary procedures of such
Depositary.

Section 11.03 Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

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Section 11.04 Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any action under this
Indenture or any other Indenture Document, the Company shall furnish to the Trustee or, if such
action relates to a Collateral Agreement, the Collateral Agent:

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee or the Collateral Agent, as applicable, (which must include the statements set forth
in Section 11.05 hereof) stating that, in the opinion of the signers, all conditions
precedent and covenants, if any, provided for in this Indenture relating to the proposed
action have been satisfied; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
or the Collateral Agent, as applicable, (which must include the statements set forth in
Section 11.05 hereof) stating that, in the opinion of such counsel, all such conditions
precedent and covenants have been satisfied.

Section 11.05 Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply
with the provisions of TIA § 314(e) and must include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not such covenant or condition has been satisfied; and

     (4) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

Section 11.06 Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 11.07 No Personal Liability of Directors, Officers, Employees and Stockholders.

     No director, officer, employee, incorporator or stockholder or other owner of Capital Stock of
the Company or any Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, this Indenture or the Guarantees or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting
a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws.

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Section 11.08 Governing Law.

     THE LAWS OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE
NOTES AND THE GUARANTEES.

Section 11.09 No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

Section 11.10 Successors.

     All agreements of the Company in this Indenture and the Notes will bind its successors. All
agreements of the Trustee in this Indenture will bind its successors. All agreements of each
Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 12.07
hereof.

Section 11.11 Severability.

     In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions will not in any way be
affected or impaired thereby.

Section 11.12 Counterpart Originals.

     The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement.

Section 11.13 Table of Contents, Headings, etc.

     The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and will in no way modify or restrict any of the terms or provisions hereof.

ARTICLE 12

GUARANTEES

Section 12.01 Guarantee.

     (a) Subject to this Article 12, each of the Guarantors hereby, jointly and severally,
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and
to the Trustee, the Collateral Agent and their respective successors and assigns, irrespective of
the validity and enforceability of this Indenture, the Notes, the Collateral Agreements or the
obligations of the Company hereunder or thereunder, that:

     (1) the principal of, premium, if any, and interest on, the Notes will be promptly paid
in full when due, whether at maturity, by acceleration, redemption or otherwise, and
interest on the overdue principal of and interest on the Notes, if any, if lawful, and all
other obligations of the Company to the Holders, the Trustee or the Collateral Agent
hereunder or thereunder will be promptly paid in full or performed, all in accordance with
the terms hereof and thereof;

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     (2) the due and punctual payment and performance of all other Indebtedness under the
Indenture Documents and all other obligations of the Company and all other obligations of
the other Guarantors (including without limitation under the Guarantees), in each case, to
the Holders, the Trustee, or the Collateral Agent under this Indenture, the Notes, or any
other Indenture Document, all in accordance with the terms hereof and thereof; and

     (3) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise.

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever
reason, the Guarantors will be jointly and severally obligated to pay the same immediately. Each
Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.

     (b) The Guarantors hereby agree that their obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenant that this Guarantee will not be discharged except by
complete performance of the obligations contained in the Notes and this Indenture.

     (c) If any Holder, the Trustee or the Collateral Agent is required by any court or otherwise
to return to the Company, the Guarantors or any custodian, trustee, liquidator or other similar
official acting in relation to either the Company or the Guarantors, any amount paid by either to
the Trustee, the Collateral Agent or such Holder, this Guarantee, to the extent theretofore
discharged, will be reinstated in full force and effect.

     (d) Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the
Holders, the Trustee and the Collateral Agent, on the other hand, (1) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes
of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any
declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations
(whether or not due and payable) will forthwith become due and payable by the Guarantors for the
purpose of this Guarantee.

Section 12.02 Limitation on Guarantor Liability.

     Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any
Guarantee. To effectuate the foregoing intention, the Trustee, the Collateral Agent, the Holders
and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be limited
to the maximum amount that will, after giving effect to such maximum amount and all other
contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after
giving effect to any collections from, rights to receive contribution from or payments made by or
on behalf of any other Guarantor in respect of the

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obligations of such other Guarantor under this Article 12, result in the obligations of such
Guarantor under its Guarantee not constituting a fraudulent transfer or conveyance.

Section 12.03 Execution and Delivery of Guarantee.

     To evidence its Guarantee set forth in Section 12.01 hereof, each Guarantor hereby agrees that
a notation of such Guarantee substantially in the form attached as Exhibit E hereto will be signed
by an Officer of such Guarantor (by manual or facsimile signature) on each Note authenticated and
delivered by the Trustee and that this Indenture will be executed on behalf of such Guarantor by
one of its Officers.

     Each Guarantor hereby agrees that its Guarantee set forth in Section 12.01 hereof will remain
in full force and effect notwithstanding any failure to endorse on each Note a notation of such
Guarantee.

     If an Officer whose signature is on this Indenture or on the Guarantee no longer holds that
office at the time the Trustee authenticates the Note on which a Guarantee is endorsed, the
Guarantee will be valid nevertheless.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, will
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors.

Section 12.04 Guarantors May Consolidate, etc., on Certain Terms.

     Except as provided in Section 12.07, a Guarantor may not sell or otherwise dispose of all or
substantially all of its assets to, or consolidate with or merge with or into (whether or not such
Guarantor is the surviving Person) another Person, other than the Company or another Guarantor,
unless:

     (1) immediately after giving effect to such transaction, no Default or Event of Default
exists; and

     (2) either:

          (a) the Person acquiring the properties or assets in any such sale or other disposition
or the Person formed by or surviving any such consolidation or merger (if other than the
Guarantor) unconditionally assumes all the obligations of that Guarantor, pursuant to a
supplemental indenture substantially in the form specified in this Indenture, under the
Notes, this Indenture and its Guarantee on terms set forth herein; or

          (b) such sale or other disposition complies with Section 4.05(f) hereof.

In case of any such consolidation, merger, sale or conveyance and upon the assumption by the
successor Person, by such supplemental indenture and instruments, executed and delivered to the
Trustee and Collateral Agent and satisfactory in form to the Trustee and Collateral Agent, of the
Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and
conditions of this Indenture and the Collateral Agreements to be performed by the Guarantor, such
successor Person will succeed to and be substituted for the Guarantor with the same effect as if it
had been named herein as a Guarantor. Such successor Person thereupon may cause to be signed any
or all of the Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore
shall not have been signed by the Company and delivered to the Trustee. All the Guarantees so
issued will in all respects have the same legal rank and benefit under this Indenture as the
Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as
though all of such Guarantees had been issued at the date of the execution hereof.

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Section 12.05 Contribution.

     In order to provide for just and equitable contribution among the Guarantors, the Guarantors
agree, inter se, that each Guarantor that makes a payment or distribution under a Guarantee shall
be entitled to a pro rata contribution from each other Guarantor hereunder based on the net assets
of each other Guarantor. The preceding sentence shall in no way affect the rights of the Holders
of Notes to the benefits of this Indenture, the Notes or the Guarantees.

Section 12.06 Waiver of Subrogation.

     Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to
the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby.

Section 12.07 Releases.

     The Guarantee of a Guarantor and, subject to Section 13.04, the Lien on a Guarantor’s
Collateral, will be released:

     (1) in connection with any sale or other disposition of all or substantially all of the
assets of that Guarantor (including by way of merger or consolidation) to a Person that is
not (either before or after giving effect to such transaction) a Subsidiary of the Company,
if the sale or other disposition does not violate Section 4.05(f) hereof;

     (2) in connection with any sale or other disposition of all of the Capital Stock of
that Guarantor to a Person that is not (either before or after giving effect to such
transaction) a Subsidiary of the Company, if the sale or other disposition does not violate
Section 4.05(f) hereof;

     (3) upon satisfaction and discharge of this Indenture in accordance with Article 10
hereof; or

     (4) as provided in the Intercreditor Agreement.

Any Guarantor not released from its obligations under its Guarantee as provided in this Section
12.07 will remain liable for the full amount of principal of and interest and premium, if any, on
the Notes and for the other obligations of any Guarantor under this Indenture as provided in this
Article 12.

Section 12.08 Waiver of Stay, Extension or Usury Laws

     Each Guarantor covenants to the extent permitted by law that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or
extension law or any usury law or other law that would prohibit or forgive such Guarantor from
performing its Guarantee as contemplated herein, wherever enacted, now or at any time hereafter in
force, or which may affect the covenants or the performance of this Guarantee; and each Guarantor
hereby expressly waives to the extent permitted by law all benefit or advantage of any such law,
and covenants that it shall not hinder, delay or impede the execution of any power herein granted
to the Trustee, but shall suffer and permit the execution of every such power as though no such law
had been enacted.

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Section 12.09 No Set-Off

     Subject to the Intercreditor Agreement, each payment to be made by a Guarantor hereunder or
under a Guarantee shall be made in U.S. dollars without set-off, counterclaim, reduction, or
diminution of any kind or nature.

Section 12.10 Guarantee Obligations Continuing

     The obligations of each Guarantor hereunder and under each Guarantee shall be continuing and
shall remain in full force and effect until all such obligations have been paid and satisfied in
full. Each Guarantor agrees with the Trustee that it will from time to time deliver to the Trustee
and Collateral Agent suitable acknowledgments of this continued liability hereunder and under any
other instrument or instruments in such form as counsel to the Trustee may advise and as will
prevent any action brought against it in respect of any default hereunder being barred by any
statute of limitations now or hereafter in force and, in the event of the failure of a Guarantor so
to do, it hereby irrevocably appoints the Trustee and the Collateral Agent the attorney and agent
of such Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or
other instruments as may from time to time become necessary or advisable to fully maintain and keep
in force the liability of such Guarantor hereunder.

Section 12.11 Guarantee Obligations Not Affected

     The obligations of each Guarantor hereunder and under each Guarantee shall not be affected,
impaired or diminished in any way by an act, omission, matter or thing whatsoever, occurring
before, upon, or after any demand for payment hereunder (and whether or not known or consented to
by any Guarantor or the Trustee, the Collateral Agent, or any of the Holders) which, but for this
provision, might constitute a whole or partial defense to a claim against any Guarantor hereunder
or under any Guarantee or might operate to release or otherwise exonerate any Guarantor from any of
its obligations hereunder or under any Guarantee or otherwise affect such obligations, whether
occasioned by default of the Trustee, the Collateral Agent, or any of the Holders or otherwise,
including, without limitation:

     (a) any limitation of status or power, disability, incapacity, or other circumstances
relating to the Company or any other Person, including any insolvency, bankruptcy,
liquidation, reorganization, readjustment, composition, dissolution, winding-up, or other
proceeding involving or affecting the Company, any Guarantor, or any other Person;

     (b) any irregularity, defect, unenforceability, or invalidity in respect of any
Indebtedness or other obligation of the Company, any Guarantor, or any other Person under
this Indenture, the Notes, any other Indenture Document, or any other document or
instrument;

     (c) any failure of the Company or any other Guarantor, whether or not without fault on
its part, to perform or comply with any of the provisions of this Indenture, the Notes, or
any other Indenture Document, or any failure to give notice hereunder or under any other
Indenture Document to any Guarantor;

     (d) the taking or enforcing or exercising or the refusal or neglect to take or enforce
or exercise any right or remedy from or against the Company, any Guarantor, or any other
Person or their respective assets or the release or discharge of any such right or remedy;

     (e) the granting of time, renewals, extensions, compromises, concessions, waivers,
releases, discharges, or other indulgences to the Company, any Guarantor, or any other
Person;

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     (f) any change in the time, manner, or place of payment of, or in any other term of,
any of the Notes or other Obligations, or any other amendment, variation, supplement,
replacement, or waiver of, or any consent to departure from, any of the Notes or this
Indenture, including, without limitation, any increase or decrease in the principal amount
of or premium, if any, or interest on any of the Notes;

     (g) any change in the ownership, control, name, objects, businesses, assets, capital
structure, or constitution of the Company or any Guarantor;

     (h) any merger or amalgamation of the Company or any Guarantor with any Person or
Persons;

     (i) the occurrence of any change in the laws, rules, regulations, or ordinances of any
jurisdiction by any present or future action of any Governmental Authority or court
amending, varying, reducing or otherwise affecting, or purporting to amend, vary, reduce, or
otherwise affect, any of the obligations guaranteed hereunder or any obligations of any
Guarantor under any Guarantee; and

     (j) any other circumstance, including release of a Guarantor pursuant to Section 12.07
(other than by complete, irrevocable payment) that might otherwise constitute a legal or
equitable discharge or defense of the Company under this Indenture, the Notes, or any other
Indenture Document or any other obligation of a Guarantor hereunder or of a Guarantor in
respect of its Guarantee hereunder or under its respective Guarantee.

Section 12.12 Dealing with the Company and Others

     Subject to the Intercreditor Agreement, the Holders and the Trustee (subject to the other
provisions of this Indenture) may, and the Collateral Agent may, without releasing, discharging,
limiting or otherwise affecting in whole or in part the obligations and liabilities of any
Guarantor hereunder and without the consent of or notice to any Guarantor:

     (a) grant time, renewals, extensions, compromises, concessions, waivers, releases,
discharges and other indulgences to the Company or any other Person;

     (b) take or abstain from taking security or Collateral from the Company or any other
Person or from perfecting security or Collateral of the Company or any other Person;

     (c) release, discharge, compromise, realize, enforce, or otherwise deal with or do any
act or thing in respect of (with or without consideration) any and all Collateral,
mortgages, or other security given by the Company or any other Person with respect to the
obligations or matters contemplated by this Indenture, the Notes, or any other Indenture
Document or any other obligation;

     (d) accept compromises or arrangements from the Company or any other Person;

     (e) apply all monies at any time received from the Company or any other Person or from
any security upon such part of the obligations guaranteed hereunder or other obligations
hereunder of the Guarantor as the Holders may see fit or change any such application in
whole or in part from time to time as the Holders may see fit; and

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     (f) otherwise deal with, or waive or modify their right to deal with, the Company and
all other Persons and any security as the Holders or the Trustee or Collateral Agent may see
fit.

Section 12.13 Default and Enforcement

     Subject to the Intercreditor Agreement, if any Guarantor fails to pay any amount hereunder or
under any Guarantee, the Trustee may proceed in its name as trustee hereunder in the enforcement of
the Guarantor’s obligations hereunder and under any Guarantee by any remedy provided by law,
whether by legal proceedings or otherwise, and to recover from such Guarantor all amounts due.

Section 12.14 No Merger or Waiver; Cumulative Remedies

     No Guarantee shall operate by way of merger of any of the obligations of a Guarantor under any
other agreement, including, without limitation, this Indenture and any Note. No failure to
exercise and no delay in exercising, on the part of the Trustee, Collateral Agent, or the Holders,
any right, remedy, power, or privilege under this Indenture, the Notes, or any other Indenture
Document, shall operate as a waiver thereof; nor shall any single or partial exercise of any right,
remedy, power, or privilege under this Indenture, the Notes, or any other Indenture Document
preclude any other or further exercise thereof or the exercise of any other right, remedy, power,
or privilege. The rights, remedies, powers, and privileges in the Guarantees and under this
Indenture, the Notes, each other Indenture Document, and any other document or instrument between a
Guarantor and the Company or between a Guarantor and the Trustee are cumulative and not exclusive
of any rights, remedies, powers, and privilege provided by law.

Section 12.15 Guarantee in Addition to Other Guarantee Obligations

     The obligations of each Guarantor under its Guarantee and this Indenture are in addition to
and not in substitution for any other obligations to the Trustee, the Collateral Agent, and to any
of the Holders in relation to this Indenture, the Notes, and each other Indenture Document and any
Guarantees or security at any time held by or for the benefit of any of them.

Section 12.16 Successors and Assigns

     Each Guarantee and all of the obligations of each Guarantor hereunder shall be binding upon
each Guarantor and inure to the benefit of the Trustee and the Collateral Agent and the Holders and
their respective successors and, in the case of the Trustee and the Collateral Agent, its permitted
assigns.

ARTICLE 13

AGREEMENTS REGARDING SECURITY

Section 13.01 Grant of Security Interest.

     (a) To secure the due and punctual payment of the principal of, premium, if any, and interest
on the Notes and amounts due hereunder and under the Guarantees when and as the same shall be due
and payable, whether on an Interest Payment Date, at maturity, by acceleration, purchase,
repurchase, redemption or otherwise, and interest on the overdue principal of, premium, if any, and
interest (to the extent permitted by law), if any, on the Notes and the performance of all other
Obligations of the Company and the Guarantors to the Holders, the Collateral Agent or the Trustee
under this Indenture, the Collateral Agreements, the Guarantees and the Notes, the Company and the
Guarantors have caused Collateral Agreements to be executed and delivered concurrently with this
Indenture.

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     (b) Each Holder, by its acceptance of a Note, consents and agrees to the terms of each
Collateral Agreement, as the same may be in effect or may be amended from time to time in
accordance with their respective terms, and authorizes and directs the Collateral Agent to enter
into this Indenture and the Collateral Agreements and to perform its obligations and exercise its
rights thereunder in accordance therewith. The Company shall, and shall cause each of its
Subsidiaries to, do or cause to be done, at its sole cost and expense, all such actions and things
as may be required by the provisions of the Collateral Agreements, to assure and confirm to the
Collateral Agent the security interests in the Collateral contemplated by the Collateral
Agreements, as from time to time constituted, so as to render the same available for the security
and benefit of this Indenture and of the Notes and Guarantees secured hereby, according to the
intent and purpose herein and therein expressed and subject to the Intercreditor Agreement,
including taking all commercially reasonable actions required or as may be reasonably requested by
the Collateral Agent to cause the Collateral Agreements to create and maintain, as security for the
Obligations contained in this Indenture, the Notes, the Collateral Agreement and the Guarantees
valid and enforceable, perfected (to the extent required therein) security interests in and on all
the Collateral, in favor of the Collateral Agent, superior to and prior to the rights of all third
Persons other than as set forth in the Intercreditor Agreement, and subject to no other Liens
(other than Permitted Liens), in each case, except as expressly provided herein or therein. If
required for the purpose of meeting the legal requirements of any jurisdiction in which any of the
Collateral may at the time be located, the Company, the Trustee and the Collateral Agent shall have
the power to appoint, and shall take all reasonable action to appoint, one or more Persons approved
by the Trustee and reasonably acceptable to the Company to act as co-Collateral Agent with respect
to any such Collateral, with such rights and powers limited to those deemed necessary for the
Company, the Trustee or the Collateral Agent to comply with any such legal requirements with
respect to such Collateral, and which rights and powers shall not be inconsistent with the
provisions of this Indenture, the Notes or the Guarantees. The Company shall from time to time
promptly pay all reasonable financing and continuation statement and mortgage recording and/or
filing fees, charges and taxes relating to this Indenture, the Collateral Agreements and any
amendments hereto or thereto and any other instruments of further assurance required pursuant
hereto or thereto.

Section 13.02 Intercreditor Agreement.

     THIS INDENTURE AND THE COLLATERAL AGREEMENTS ARE SUBJECT TO THE TERMS, LIMITATIONS AND
CONDITIONS SET FORTH IN THE INTERCREDITOR AGREEMENT. THE TRUSTEE, THE COLLATERAL AGENT, THE
COMPANY, EACH GUARANTOR AND EACH HOLDER OF A NOTE, BY ITS ACCEPTANCE THEREOF, IS DEEMED TO HAVE
AUTHORIZED AND INSTRUCTED THE COLLATERAL AGENT TO ENTER INTO THE INTERCREDITOR AGREEMENT ON ITS
BEHALF. The Trustee, the Collateral Agent and each Holder of a Note, by its acceptance thereof,
acknowledge that the Collateral Agreements may be amended, modified or waived without the consent
of the Trustee, the Collateral Agent or the Holders, as and to the extent provided in the
Intercreditor Agreement. The Trustee and the Collateral Agent further acknowledge that the
Collateral Agent is required, under certain circumstances provided in the Intercreditor Agreement,
to enter into additional documents and agreements to confirm that the Intercreditor Agreement
applies to restatements and refinancings of the Credit Agreement.

Section 13.03 Recording and Opinions.

     (a) Each of the Company and the Guarantors shall file financing statements in its jurisdiction
of organization and in any other relevant jurisdictions describing itself as debtor, the Collateral
Agent as secured party, and the collateral covered by such financing statements as defined in the
Security Agreement. The Company and the Guarantors, and each of them, hereby authorize the
Collateral Agent

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to file the foregoing financing statements from time to time on their behalf in
all relevant jurisdictions and
to file amendments and continuation statements from time to time with respect thereto. The
Company shall furnish to the Trustee, at such time as required by the TIA, such Opinions of Counsel
and certificates or opinions of engineers, appraisers or other experts as may be required by
Section 314(b) or 314(d) of the TIA and shall take such other action as may be necessary to cause
TIA Section 314(d) relating to the release of property from the security interests created by this
Indenture and the Collateral Agreements to be complied with; provided that the parties
intend that releases of collateral in accordance with the Indenture and the Collateral Agreements
are not intended to be subject to the requirements of Section 314(d) of the TIA. Any certificate
or opinion required by TIA Section 314(d) may be made by an Officer of the Company, except in cases
where TIA Section 314(d) requires that such certificate or opinion be made by an independent
Person, which Person shall be an independent engineer, appraiser or other expert selected or
approved by the Trustee in the exercise of reasonable care. A Person is “independent” if such
Person (a) is in fact independent, (b) does not have any direct financial interest or any material
indirect financial interest in the Company or in any Affiliate of the Company and (c) is not an
officer, employee, promoter, underwriter, trustee, partner or director or person performing similar
functions to any of the foregoing for the Company. The Trustee and the Collateral Agent shall be
entitled to receive and rely upon a certificate provided by any such Person confirming that such
Person is independent within the foregoing definition.

Section 13.04 Release of Collateral.

     (a) Subject to the Intercreditor Agreement (which permits the First Priority Agent to release
the Lien of the Collateral Agent on the Collateral under certain circumstances), the Collateral
Agent shall not at any time release Collateral from the security interests created by the
Collateral Agreements unless such release is in accordance with the provisions of this Indenture
and the applicable Collateral Agreements.

     (b) The release of any Collateral from the terms of the Collateral Agreements shall not be
deemed to impair the security under this Indenture in contravention of the provisions hereof if and
to the extent the Collateral is released pursuant to this Indenture and the Collateral Agreements.
To the extent permitted under the TIA and/or any interpretation or guidance as to the meaning
thereof of the SEC and its staff, including “no action” letters or exemptive orders, the fair value
of Collateral released from the Liens and security interest created by this Indenture and the
Collateral Agreements pursuant to the terms of the Collateral Agreements shall not be considered in
determining whether the aggregate fair value of the Collateral released from the Liens and security
interest created by this Indenture and the Collateral Agreements in any calendar year exceeds the
10% threshold specified in TIA § 314(d)(1). Notwithstanding anything to the contrary in this
paragraph, the Company will not be required to comply with all or any portion of TIA §314(d) if
under the terms of TIA §314(d) and/or any interpretation or guidance as to the meaning thereof of
the SEC and its staff, including “no action” letters or exemptive orders, all or any portion of TIA
§314(d) is inapplicable to one or a series of released Collateral.

     (c) Notwithstanding any provision to the contrary herein, Collateral comprised of inventory or
(prior to the occurrence and during the continuance of an Event of Default) the proceeds of the
foregoing shall be subject to release upon sales of such inventory and collection of the proceeds
of such accounts receivable in the ordinary course of business and, as and when requested by the
Company, the Collateral Agent to authorize or execute and deliver UCC financing statement
amendments or releases that delete such released Collateral or any Excluded Collateral from any
previously filed financing statements that included such released Collateral or Excluded Collateral
in the description of the assets covered thereby. If requested in writing by the Company, the
Trustee shall instruct the Collateral Agent to execute and deliver such documents, instruments or
statements and to take such other action as the Company may request to evidence or confirm that the
Collateral falling under this Section 13.04 has been

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released from the Liens of each of the Collateral Agreements. The Collateral Agent shall execute
and deliver such documents, instruments and statements and shall take all such actions promptly
upon receipt of such instructions from the Trustee.

     (d) Subject to the foregoing, Collateral may be released from the Lien and security interest
created by the Collateral Agreements at any time or from time to time in accordance with the
provisions of the Collateral Agreements or as provided hereby. Upon the request of the Company
pursuant to an Officers’ Certificate certifying that all conditions precedent hereunder have been
met and without the consent of any Holder, the Company and the Guarantors will be entitled to
releases of assets included in the Collateral from the Liens securing the Indenture Documents under
any one or more of the following circumstances:

     (1) to enable the Company to consummate asset dispositions permitted or not prohibited
under Section 4.05(f);

     (2) if any Subsidiary that is a Guarantor is released from its Guarantee, that
Subsidiary’s assets will also be released from the Liens securing the Notes;

     (3) as described in Article 9;

     (4) if the Administrative Agent has released all of its Liens on any such assets and
the Company delivers the Trustee an Officers’ Certificate at the time of any such release of
Collateral certifying that, after giving effect to such release, no Default or Event of
Default exists; and

     (5) if required in accordance with the terms of the Intercreditor Agreement.

     The Liens on all Collateral that secures the Indenture Documents also will be released
upon satisfaction and discharge of this Indenture or payment in full of the principal of,
and premium, if any, and accrued and unpaid interest on, the Notes and all other Obligations
that are then due and payable.

     Upon receipt of such Officers’ Certificate and any necessary or proper instruments of
termination, satisfaction or release prepared by the Company, the Collateral Agent shall execute,
deliver or acknowledge such instruments or releases to evidence the release of any Collateral
permitted to be released pursuant to this Indenture or the Collateral Agreements.

Section 13.05 Form and Sufficiency of Release.

     In the event that the Company or any Guarantor has sold, exchanged, or otherwise disposed of
or proposes to sell, exchange or otherwise dispose of any portion of the Collateral that may be
sold, exchanged or otherwise disposed of by the Company or such Guarantor, and the Company or such
Guarantor requests the Trustee or the Collateral Agent to furnish a written disclaimer, release or
quit-claim of any interest in such property under this Indenture and the Collateral Agreements, the
Collateral Agent and the Trustee, as applicable, shall execute, acknowledge and deliver to the
Company or such Guarantor (in proper form) such an instrument promptly after satisfaction of the
conditions set forth herein for delivery of any such release. Notwithstanding the preceding
sentence, all purchasers and grantees of any property or rights purporting to be released herefrom
shall be entitled to rely upon any release executed by the Collateral Agent hereunder as sufficient
for the purpose of this Indenture and as constituting a good and valid release of the property
therein described from the Lien of this Indenture or of the Collateral Agreements.

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Section 13.06 Purchaser Protected.

     No purchaser or grantee of any property or rights purporting to be released herefrom shall be
bound to ascertain the authority of the Trustee or the Collateral Agent to execute the release or
to inquire as to the existence of any conditions herein prescribed for the exercise of such
authority; nor shall any purchaser or grantee of any property or rights permitted by this Indenture
to be sold or otherwise disposed of by the Company be under any obligation to ascertain or inquire
into the authority of the Company to make such sale or other disposition.

Section 13.07 Actions to Be Taken by the Collateral Agent.

     Wilmington Trust FSB is hereby appointed to act in its capacity as the Collateral Agent.
Subject to the provisions of the applicable Collateral Agreements and the Intercreditor Agreement;

     (a) the Collateral Agent shall execute and deliver the Collateral Agreements and act in
accordance with the terms thereof;

     (b) the Collateral Agent may, in its sole discretion and without the consent of the Trustee or
the Holders, take all actions it deems necessary or appropriate in order to:

     (1) enforce any of the terms of the Collateral Agreements, and

     (2) collect and receive any and all amounts payable in respect of the Obligations of
the Company and the Guarantors hereunder and under the Notes, the Guarantees, the Collateral
Agreements; and

     (c) the Collateral Agent shall have power to institute and to maintain such suits and
proceedings as it may deem expedient to prevent any impairment of the Collateral by any act that
may be unlawful or in violation of the Collateral Agreements or this Indenture, and suits and
proceedings as the Collateral Agent may deem expedient to preserve or protect its interests and the
interests of the Trustee and the Holders in the Collateral (including the power to institute and
maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or
other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if
the enforcement of, or compliance with, such enactment, rule or order would impair the security
interest thereunder or be prejudicial to the interests of the Holders, the Trustee or the
Collateral Agent).

     Anything contained in any of the Indenture Documents to the contrary notwithstanding, no
Holder shall have any right individually to realize upon any of the Collateral. All powers, rights
and remedies of the Collateral Agent hereunder and under the Collateral Agreements may be exercised
solely by the Collateral Agent.

     Notwithstanding the foregoing, the Collateral Agent may, at the expense of the Company,
request the direction of the Holders with respect to any such actions and upon receipt of the
written consent of the Holders of at least a majority in aggregate principal amount of the
outstanding Notes, shall take such actions; provided that all actions so taken shall, at all times,
be in conformity with the requirements of the Intercreditor Agreement.

Section 13.08 Receipt of Funds by the Collateral Agent.

     The Collateral Agent is authorized to receive any funds for the benefit of itself, the Trustee
and the Holders distributed under the Collateral Agreements to the extent permitted under the
Intercreditor

63

 

Agreement, for turnover to the Trustee to make further distributions of such funds to itself,
the Collateral Agent and the Holders in accordance with the provisions of Section 6.10 and the
other provisions of this Indenture.

Section 13.09 Trustee and Collateral Agent Not Fiduciary for Holders of Senior Debt.

     The Trustee and the Collateral Agent shall not be deemed to owe any fiduciary duty to the
holders of Senior Debt and shall not be liable to any such holders if the Trustee or the Collateral
Agent shall in good faith mistakenly pay over or distribute to Holders of Notes or to the Company
or to any other Person cash, property or securities to which any holders of Senior Debt shall be
entitled by virtue of this Article or otherwise. With respect to the holders of Senior Debt, the
Trustee and the Collateral Agent undertake to perform or to observe only such of its covenants or
obligations as are specifically set forth in this Article and no implied covenants or obligations
with respect to holders of Senior Debt shall be read into this Indenture against the Trustee or the
Collateral Agent.

[Signatures on following page]

64

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	SUPERIOR WELL SERVICES, INC.

 	 
	 	By:  	/s/ Thomas W. Stoelk
 	 
	 	 	Name:  	Thomas W. Stoelk 	 
	 	 	Title:  	Vice President & Chief Financial Officer 	 
	 
	 	WILMINGTON TRUST FSB, as trustee

 	 
	 	By:  	/s/ Jane Schweiger
 	 
	 	 	Name:  	Jane Schweiger 	 
	 	 	Title:  	Vice President 	 
	 
	 	WILMINGTON TRUST FSB, as collateral agent

 	 
	 	By:  	/s/ Jane Schweiger
 	 
	 	 	Name:  	Jane Schweiger 	 
	 	 	Title:  	Vice President 	 
	 

GUARANTORS:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SUPERIOR GP, L.L.C.	 	 	 	SUPERIOR WELL SERVICES, LTD.	 	 
	By:	 	Superior Well Services, Inc., its sole member	 	 	 	By:	 	Superior GP, L.L.C., its general partner	 	 
	 

	 	 	 	 	 	 	 	By:
	 	Superior Well Services, Inc., its sole member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Thomas W. Stoelk	 	 	 	By:	 	/s/ Thomas W. Stoelk	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Thomas W. Stoelk
	 	 	 	 	 	Name:
	 	Thomas W. Stoelk	 	 
	 

	 	Title:
	 	Vice President & Chief Financial Officer
	 	 	 	 	 	Title:
	 	Vice President & Chief Financial Officer	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SWSI FLUIDS, LLC	 	 	 	 	 	 	 	 	 	 
	By:	 	Superior Well Services, Inc., its sole member	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Thomas W. Stoelk	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Thomas W. Stoelk	 	 	 	 	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President & Chief Financial Officer	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

[Face of QIB/IAI/Reg S Note]

[Insert the Global Note Legend, if applicable pursuant to the provisions of this Indenture]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of this Indenture]

A-1

 

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE OBLIGATIONS OWING PURSUANT TO THESE SECOND
LIEN NOTES DUE 2013 ARE SUBORDINATE AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE TRUSTEE AND
COLLATERAL AGENT (AS HEREIN DEFINED) AND THE OTHER HOLDERS ARE SUBJECT TO THE PROVISIONS OF AN
INTERCREDITOR AGREEMENT AMONG THE COMPANY, THE SUBSIDIARIES OF THE COMPANY SET FORTH THEREIN,
CITIZENS BANK OF PENNSYLVANIA, AS AGENT FOR THE FIRST PRIORITY SECURED PARTIES (AS DEFINED IN THE
INTERCREDITOR AGREEMENT), AND WILMINGTON TRUST FSB, AS AGENT FOR THE SECOND PRIORITY SECURED
PARTIES (AS DEFINED IN THE INTERCREDITOR AGREEMENT). IN THE EVENT OF ANY CONFLICT OR INCONSISTENCY
BETWEEN THE PROVISIONS OF THE INTERCREDITOR AGREEMENT AND THESE SECOND LIEN NOTES DUE 2013, THE
PROVISIONS OF THE INTERCREDITOR AGREEMENT SHALL CONTROL.

CUSIP/CINS                     

Second Lien Notes due 2013

			
	No. ___
	 	$                    

SUPERIOR WELL SERVICES, INC.

promises to pay to [                    ] or registered assigns, the principal sum of
           
                                                                     
            DOLLARS on November 18, 2013.

Interest Payment Dates: January 1, April 1, July 1 and October 1 beginning January 1, 2009.

Record Dates: December 15, March 15, June 15 or September 15.

Dated:                     , 20__

	 	 	 	 	 
	 	SUPERIOR WELL SERVICES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Trustee Certificate of Authentication

This is one of the Notes referred to

in the within-mentioned Indenture:

[                                                            ],

as Trustee

	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 
	 	Date:                                                             ,20___
	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Authorized Signatory	 	 	 	 	 	 

A-2

 

[Back of Note]

Second Lien Notes due 2013

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     (1) Interest. Superior Well Services, Inc., a Delaware corporation (the
“Company”), promises to pay interest on the principal amount of this Note at the Applicable
Interest Rate, from the Issue Date until maturity. The Company will pay interest quarterly
in arrears on January 1, April 1, July 1, October 1 of each year, or if any such day is not
a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”).
Interest on the Notes will accrue from the most recent date to which interest has been paid
or, if no interest has been paid, from the date of issuance; provided that if there
is no existing Default in the payment of interest, and if this Note is authenticated between
a record date referred to on the face hereof (each, a “Record Date”) and the next succeeding
Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided further that the first Interest Payment Date shall be January
1, 2009. The Company will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on
demand at the rate set forth in Section 2.12 of the Indenture to the extent lawful; it will
pay interest (including post-petition interest in any proceeding under any Bankruptcy Law)
on overdue installments of interest (without regard to any applicable grace periods) from
time to time on demand at the same rate to the extent lawful. Interest will be computed on
the basis of a 360-day year of twelve 30-day months.

     (2) Method of Payment. The Company will pay interest on the Notes (except
defaulted interest) to the Persons who are registered Holders of Notes at the close of
business on December 15, March 15, June 15 or September 15 next preceding the Interest
Payment Date, even if such Notes are canceled after such record date and on or before such
Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium, if any, and
interest at the office or agency of the Company maintained for such purpose, or, at the
option of the Company, payment of interest may be made by check mailed to the Holders at
their addresses set forth in the register of Holders; provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and
interest, premium on, all Global Notes and all other Notes the Holders of which will have
provided wire transfer instructions to the Company or the Paying Agent. Such payment will
be in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts.

     (3) Paying Agent and Registrar. Initially, Wilmington Trust FSB, the Trustee
under the Indenture, will act as Paying Agent and Registrar. The Company may change any
Paying Agent or Registrar without notice to any Holder. The Company or any of its
Subsidiaries may act in any such capacity.

     (4) Indenture. The Company issued the Notes under an Indenture dated as of
November 18, 2008 (as amended from time to time, the “Indenture”) among the Company, the
Guarantors, the Trustee and Wilmington Trust FSB, as the Collateral Agent. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939, as amended. The Notes are subject to all such
terms, and Holders are referred to the Indenture and such Act for a statement of such terms.
To the extent

A-3

 

any provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. The Indenture does not limit
the aggregate principal amount of Notes that may be issued thereunder.

     (5) Optional Redemption; Change of Control

     The Notes are subject to redemption as provided in Article III of the Indenture. In the event
of a Change of Control, the Company shall be required to offer to repurchase the Notes on the
terms, and subject to the limitation, specified in Section 4.06 of the Indenture.

     (6) Notice of Redemption. Notice of redemption will be mailed at least 5 days
but not more than 60 days before the redemption date to each Holder whose Notes are to be
redeemed at its registered address. Notes in denominations larger than $2,000 may be
redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the
Notes held by a Holder are to be redeemed.

     (7) Denominations, Transfer, Exchange. The Notes are in registered form
without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in
the Indenture. The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and the Company may require a Holder
to pay any taxes and fees required by law or permitted by the Indenture. The Company need
not exchange or register the transfer of any Note or portion of a Note selected for
redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the
Company need not exchange or register the transfer of any Notes for a period of 15 days
before a selection of Notes to be redeemed or during the period between a record date and
the corresponding Interest Payment Date.

     (8) Persons Deemed Owners. The registered Holder of a Note may be treated as
its owner for all purposes.

     (9) Amendment, Supplement and Waiver. Subject to certain exceptions, the
Indenture, the Notes, the Collateral Agreements or the Guarantees may be amended or
supplemented with the consent of the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes, voting as a single class, and any existing Default or
Event or Default or compliance with any provision of the Indenture, the Notes or the
Guarantees may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes, voting as a single class. Without the
consent of any Holder of a Note, the Indenture, the Notes, the Collateral Agreements or the
Guarantees may be amended or supplemented to cure any ambiguity, defect or inconsistency and
to effect certain other changes as set forth in the Indenture.

     (10) Defaults and Remedies. If any Event of Default occurs and is continuing,
the Trustee or the Holders of at least 25% in aggregate principal amount of the then
outstanding Notes may declare all the Notes to be due and payable immediately.
Notwithstanding the foregoing, in the case of an Event of Default arising from certain
events of bankruptcy or insolvency, all outstanding Notes will become due and payable
immediately without further action or notice. Holders may not enforce the Indenture or the
Notes except as provided in the Indenture. Subject to certain limitations, Holders of a
majority in aggregate principal amount of the then outstanding Notes may direct the Trustee
in its exercise of any trust or power. The Holders of a majority in aggregate principal
amount of the then outstanding Notes by notice to the

A-4

 

Trustee may, on behalf of the Holders of all of the Notes, rescind an acceleration or
waive any existing Default or Event of Default and its consequences under the Indenture
except a continuing Default or Event of Default in the payment of interest or premium, if
any, on, or the principal of, the Notes. The Company is required to deliver to the Trustee
annually a statement regarding compliance with the Indenture, and the Company is required,
upon becoming aware of any Default or Event of Default, to deliver to the Trustee a
statement specifying such Default or Event of Default.

     (11) Trustee Dealings with Company. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the
Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if
it were not the Trustee.

     (12) No Recourse Against Others. No director, officer, employee, incorporator
or stockholder of the Company or any Guarantor, as such, will have any liability for any
obligations of the Company or the Guarantors under the Notes, the Indenture or the
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes.

     (13) Authentication. This Note will not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.

     (14) Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in
common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

     (15) CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a
convenience to Holders. No representation is made as to the accuracy of such numbers either
as printed on the Notes or as contained in any notice of redemption, and reliance may be
placed only on the other identification numbers placed thereon.

     (16) GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK WILL GOVERN AND BE USED
TO CONSTRUE THE INDENTURE, THIS NOTE AND THE GUARANTEES.

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to:

SUPERIOR WELL SERVICES, INC.

1380 Rt. 286 East — Suite 121

Indiana, Pennsylvania 15701

Attention: Thomas W. Stoelk

A-5

 

Assignment Form

     To assign this Note, fill in the form below:

	 	 	 
	(I) or (we) assign and transfer this Note to:
	 	 
	 

	 	 
	 

	 	(Insert assignee’s legal name)

 
(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 
(Print or type assignee’s name, address and zip code)

and irrevocably appoint                                                                 
                                    
to transfer this Note on the books of the Company. The agent may substitute another to act for
him.

Date: _______________

Your Signature:
             
            
               
               
             
            

(Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:                                         

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-6

 

Option of Holder to Elect Purchase

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.06 of
the Indenture, check the box below:

          ØSection 4.06

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.06 of the Indenture, state the amount you elect to have purchased:

$                                        

Date:                                         

Your Signature:                                                             
                    

(Sign exactly as your name appears on the face of this Note)

Tax Identification No.:                                                             

Signature Guarantee*:                                                             

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-7

 

Schedule of Exchanges of Interests in the Global Note *

     The following exchanges of a part of this Global Note for an interest in another Global Note
or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an
interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount	 	 	 	 
	 	 	 	 	Amount of decrease	 	 	Amount of increase	 	 	of this Global Note	 	 	Signature of	 
	 	 	 	 	in Principal Amount	 	 	in Principal Amount	 	 	following such	 	 	authorized officer	 
	 	 	 	 	of	 	 	of	 	 	decrease	 	 	of Trustee or	 
	Date of Exchange	 	 	this Global Note	 	 	this Global Note	 	 	(or increase)	 	 	Custodian	 

 

			
	*	 	This schedule should be included only if the Note is issued in global form.

A-8

 

EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

 

SUPERIOR WELL SERVICES, INC.

1380 Rt. 286 East — Suite 121

Indiana, Pennsylvania 15701

Attention: Thomas W. Stoelk

[        
                     
                     
       

                     
                                       

                     
                                       ]

Facsimile No.: [             
                      
                   ]

Attention: [                   
                      
                   ]

     Re: Second Lien Notes due 2013

     Reference is hereby made to the Indenture, dated as of November 18, 2008 (the “Indenture”),
among Superior Well Services, Inc., as issuer (the “Company”), the Guarantors party thereto and
Wilmington Trust FSB, as trustee, and Wilmington Trust FSB, as collateral agent. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture.

                                             , (the “Transferor”) owns and proposes to transfer the Note[s] or interest
in such Note[s] specified in Annex A hereto, in the principal amount of $                     in such
Note[s] or interests (the “Transfer”), to                                                              (the “Transferee”), as
further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

[CHECK ALL THAT APPLY]

     1. o Check if Transferee will take delivery of a beneficial interest in the QIB
Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being
effected pursuant to an in accordance with Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Personal and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the transfer
enumerated in the Private Placement Legend printed on the QIB Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

     2. o Check if Transferee will take delivery of a beneficial interest in the
Regulation S Temporary Global Note, the Regulation S Global Note or a Restricted Definitive Note
pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with
Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further
certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the
time the buy order was originated, the Transferee was outside the United States or such Transferor
and any Person acting on its behalf reasonably believed and believes that the Transferee was
outside the United States or (y) the transaction was executed in, on or through the facilities of a
designated offshore securities market and neither such Transferor nor any Person acting on its
behalf knows that the transaction was prearranged with a buyer in

B-1

 

the United States, (ii) no directed selling efforts have been made in contravention of the
requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the
transaction is not part of a plan or scheme to evade the registration requirements of the
Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the
Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of
a U.S. Person. Upon consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S
Global Note, the Regulation S Global Note and/or the Restricted Definitive Note and in the
Indenture and the Securities Act.

     3. o Check and complete if Transferee will take delivery of a beneficial interest
in the IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with
the transfer restrictions applicable to beneficial interests in Restricted Global Notes and
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any
applicable blue sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one):

     (a) o such Transfer is being effected pursuant to and in accordance with Rule
144 under the Securities Act;

or

     (b) o such Transfer is being effected to the Company or a subsidiary thereof;

or

     (c) o such Transfer is being effected pursuant to an effective registration
statement under the Securities Act and in compliance with the prospectus delivery
requirements of the Securities Act;

or

     (d) o such Transfer is being effected to an Institutional Accredited Investor
and pursuant to an exemption from the registration requirements of the Securities Act
other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further
certifies that it has not engaged in any general solicitation within the meaning of
Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Note or Restricted
Definitive Notes and the requirements of the exemption claimed, which certification is
supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the
Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a
copy of which the Transferor has attached to this certification), to the effect that such
Transfer is in compliance with the Securities Act. Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the IAI Global Note and/or the Restricted
Definitive Notes and in the Indenture and the Securities Act.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

B-2

 

	 	 	 	 	 
	 	        [Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:                                               

B-3

 

ANNEX A TO CERTIFICATE OF TRANSFER

	1.	 	The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

	 	(a)	o 	a beneficial interest in the:

	 	(i)	o 	QIB Global Note (CUSIP                     ), or
	 
	 	(ii)	o 	Regulation S Global Note (CUSIP                     ), or
	 
	 	(iii)	o 	IAI Global Note (CUSIP                     ); or

	2.	 	After the Transfer the Transferee will hold:

[CHECK ONE]

	 	(a)	o 	a beneficial interest in the:

	 	(i)	o 	QIB Global Note (CUSIP                     ), or
	 
	 	(ii)	o 	 Regulation S Global Note (CUSIP                     ), or
	 
	 	(iii)	o 	 IAI Global Note (CUSIP                     ); or

	 	in accordance with the terms of the Indenture.

B-4

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

SUPERIOR WELL SERVICES, INC.

1380 Rt. 286 East — Suite 121

Indiana, Pennsylvania 15701

Attention: Thomas W. Stoelk

[        
                     
                     
       

                     
                                       

                     
                                       ]

Facsimile No.: [             
                      
                   ]

Attention: [                   
                      
                   ]

     Re: Second Lien Notes due 2013

(CUSIP                     )

     Reference is hereby made to the Indenture, dated as of November 18, 2008 (as amended from time
to time, the “Indenture”), among Superior Well Services, Inc., as issuer (the “Company”), the
Guarantors party thereto and Wilmington Trust FSB, as trustee, and Wilmington Trust FSB, as
collateral agent. Capitalized terms used but not defined herein shall have the meanings given to
them in the Indenture.

                                                                 , (the “Owner”) owns and
proposes to exchange the Note[s] or
interest in such Note[s] specified herein, in the principal amount of $                     in such Note[s]
or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

     1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note
for Unrestricted Definitive Notes or Beneficial Interests in an unrestricted Global Note.

     (a) o Check if Exchange is from beneficial interest in a Restricted Global Note
to beneficial interest in an unrestricted Global Note. In connection with the Exchange of the
owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an
unrestricted Global Note in an equal principal amount, the owner hereby certifies (i) the
beneficial interest is being acquired for the owner’s own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the Global
Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act and (iv)
the beneficial interest in an unrestricted Global Note is being acquired in compliance with any
applicable blue sky Notes laws of any state of the United States.

     (b) o Check if Exchange is from beneficial interest in a Restricted Global Note to
unrestricted Definitive Note. In connection with the Exchange of the owner’s beneficial interest in
a Restricted Global Note for an unrestricted Definitive Note, the owner hereby certifies (i) the
Definitive Note is being acquired for the owner’s own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance
with any applicable blue sky Notes laws of any state of the united states.

C-1

 

     (c) o Check if Exchange is from Restricted Definitive Note to beneficial interest in an
unrestricted Global Note. In connection with the owner’s Exchange of a Restricted Definitive Note
for a beneficial interest in an unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the owner’s own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions
on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired
in compliance with any applicable blue sky Notes laws of any state of the united states.

     (d) o Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the owner’s Exchange of a Restricted Definitive Note for an unrestricted
Definitive Note, the owner hereby certifies (i) the unrestricted Definitive Note is being acquired
for the owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky Notes laws of any state of the United States.

     2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global
Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes

     (a) o Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in
a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner
hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and
in the Indenture and the Securities Act.

     (b) o Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note
for a beneficial interest in the [CHECK ONE] o QIB Global Note, o Regulation S Global
Note, o IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the
Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act.

     3. Transfers of Notes if Transferee will take delivery of a beneficial interest in

an unrestricted Global Note or of an unrestricted Definitive Note.

     (a) o Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky Notes laws of any
state of the united states and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act.
upon consummation of the proposed Transfer in

C-2

 

accordance with the terms of the Indenture, the transferred beneficial interest or Definitive
Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

     (b) o Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance
with the transfer restrictions contained in the Indenture and any applicable blue sky Notes laws
of any state of the united States and (ii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Notes, on Restricted Definitive Notes and in the Indenture.

     (c) o Check if Transfer is Pursuant to other Exemption. (i) The Transfer is being effected
pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any state
of the United States and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act.
upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or
Restricted Definitive Notes and in the Indenture.

                                                                 

C-3

 

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 
	 	       [Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:                                                     

C-4

 

EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

 

SUPERIOR WELL SERVICES, INC.

1380 Rt. 286 East — Suite 121

Indiana, Pennsylvania 15701

Attention: Thomas W. Stoelk

If to the Trustee:

[        
                     
                     
       

                     
                                       

                     
                                       ]

Facsimile No.: [             
                      
                   ]

Attention: [                   
                      
                   ]

     Re: Second Lien Notes due 2013

     Reference is hereby made to the Indenture, dated as of November 18, 2008 (as amended from time
to time, the “Indenture”), among Superior Well Services, Inc., as issuer (the “Company”), the
Guarantors party thereto and Wilmington Trust FSB, as trustee, and Wilmington Trust FSB, as
collateral agent. Capitalized terms used but not defined herein shall have the meanings given to
them in the Indenture.

     In connection with our proposed purchase of $                     aggregate principal amount of:

     (a) o a beneficial interest in a Global Note, or

     (b) o a Definitive Note,

     we confirm that:

     1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended
(the “Securities Act”).

     2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in accordance with
Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C)
to an institutional “accredited investor” (as defined below) that, prior to such transfer,
furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a
signed letter substantially in the form of this letter and an Opinion of Counsel in form reasonably
acceptable to the Company to the effect that such transfer is in compliance with the Securities
Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the Securities
Act, (E) pursuant to the provisions of Rule 144(k) under the Securities Act, (F) pursuant to an
effective registration statement under the Securities Act, or (G) any other available exception
from the registration requirements of the Security Act, and we further agree to provide to any
Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a
transaction meeting the

D-1

 

requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser
that resales thereof are restricted as stated herein.

     3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we
will be required to furnish to you and the Company such certifications, legal opinions and other
information as you and the Company may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us
will bear a legend to the foregoing effect.

     4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

     5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

     You and the Company are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 
	 
	 	        [Insert Name of Accredited Investor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:             
                       
                 

D-2

 

FORM OF NOTATION OF GUARANTEE

     For value received, each Guarantor (which term includes any successor Person under the
Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture dated as of November 18, 2008 (as amended
from time to time, the “Indenture”) among Superior Well Services, Inc., (the “Company”), the
Guarantors party thereto and Wilmington Trust FSB, as trustee (the “Trustee”), and Wilmington Trust
FSB as collateral agent (the “Collateral Agent”), (a) the due and punctual payment of the principal
of, premium, if any, and interest on, the Notes, whether at maturity, by acceleration, redemption
or otherwise, the due and punctual payment of interest on overdue principal of and interest on the
Notes, if any, if lawful, and the due and punctual performance of all other obligations of the
Company to the Holders, the Trustee or the Collateral Agent all in accordance with the terms of the
Indenture, (b) the due and punctual payment and performance of all other Indebtedness under the
Indenture Documents and all other obligations of the Company and all other obligations of the
other Guarantors (including without limitation under the Guarantees), in each case, to the Holders,
the Trustee, or the Collateral Agent under this Indenture, the Notes, or any other Indenture
Document, all in accordance with the terms hereof and thereof; and (c) in case of any extension of
time of payment or renewal of any Notes or any of such other obligations, that the same will be
promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the
Guarantors to the Holders of Notes and to the Trustee and the Collateral Agent pursuant to the
Guarantee and the Indenture, and the limitations thereon, are expressly set forth in Article 12 of
the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee.

     Capitalized terms used but not defined herein have the meanings given to them in the
Indenture.

	 	 	 	 	 
	 	[Name of Guarantor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Name of Guarantor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Name of Guarantor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

E-1

 

	 	 	 	 	 

EXHIBIT F

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

     Supplemental Indenture (this “Supplemental Indenture”), dated as of                          ,
200[_], among                                (the “Guaranteeing Subsidiary”), a subsidiary of Superior Well
Services, Inc. (or its permitted successor), a Delaware corporation. (the “Company”), the other
Guarantors (as defined in the Indenture referred to herein) and [                         ], as trustee (the
“Trustee”), and [                    ], as collateral agent (the “Collateral Agent”), under the Indenture
referred to below.

WITNESSETH

     WHEREAS, the Company has heretofore executed and delivered to the Trustee and Collateral Agent
an indenture (as amended from time to time, the “Indenture”), dated as of November 18, 2008
providing for the issuance of Second Lien Notes due 2013 (the “Notes”);

     WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee and Collateral Agent a supplemental indenture pursuant to
which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations
under the Notes and the Indenture on the terms and conditions set forth herein (the “Guarantee”);
and

     WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee and Collateral Agent are
authorized to execute and deliver this Supplemental Indenture.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee and Collateral Agent mutually covenant and agree for the equal and ratable benefit of the
Holders of the Notes as follows:

     1. Capitalized Terms. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.

     2. Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees to give and
provide its unconditional Guarantee on the terms and subject to the conditions set forth in the
Guarantee and in the Indenture including but not limited to Article 12 thereof, and subject to the
limitations therein.

     3. No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Company or any Guarantor, as such, will have any liability for any obligations
of the Company or the Guarantors under the Notes, the Indenture or the Guarantees or for any claim
based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes
by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws.

     4. NEW YORK LAW TO GOVERN. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS SUPPLEMENTAL INDENTURE.

     5. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

     6. Effect of Headings. The Section headings herein are for convenience only and
shall not affect the construction hereof.

F-1

 

     7. The Trustee and Collateral Agent. The Trustee and Collateral Agent shall not be
responsible in any manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals
are made solely by the Guaranteeing Subsidiary and the Company.

F-2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written.

     Dated:     
                     , 20___

	 	 	 	 	 
	 	[Guaranteeing Subsidiary]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Superior Well Services, Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Existing Guarantors]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[               
                       
                      
  
             ],

as Trustee

[                      
            
                       
                 
   ],

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

F-3

 

EXHIBIT G

FORM OF QUARTERLY COMPLIANCE CERTIFICATE

     This Quarterly Compliance Certificate (this “Certificate”) is furnished pursuant to Section
4.03(a) of the Indenture dated as of November 18, 2008 (the “Indenture”) among Superior Well
Services, Inc., a Delaware corporation, Superior GP, L.L.C., a Delaware limited liability company,
Superior Well Services, Ltd., a Pennsylvania limited partnership, SWSI Fluids, LLC, a Delaware
limited liability company, Wilmington Trust FSB and any and all successors thereto, as trustee, and
Wilmington Trust FSB and any and all successors thereto, as collateral agent. Unless otherwise
defined herein, all capitalized terms in this Certificate shall have the meanings assigned to such
terms in the Indenture.

     The undersigned, [                    ], hereby certifies that [he/she] is the duly appointed,
qualified and acting [Chief Executive Officer, President or Chief Financial Officer] of the
Company, acting for and on behalf of the Company, and, as such, the undersigned is duly authorized
to, and does hereby certify as of the date hereof, that attached hereto as Exhibit 1 are the
financial statements of the Company and its Subsidiaries, consisting of a consolidated and
consolidating balance sheet as of the end the fiscal quarter ending on [                     ___, 20___] and
related consolidated and consolidating statements of income, stockholders’ equity and cash flows
for the fiscal quarter ending on [                     ___, 20___] and the fiscal year through such date prepared
in accordance with GAAP, consistently applied, and setting forth in comparative form the respective
financial statements for the corresponding date and period in the previous fiscal year.

     IN WITNESS WHEREOF, I have hereunto set my hand as the [Chief Executive Officer, President or
Chief Financial Officer] of the Company this ___ day of                     , 20[___].

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	
 	 

G-1 

 

EXHIBIT 1

Financial Statements

G-2 

 

EXHIBIT H

FORM OF ANNUAL COMPLIANCE CERTIFICATE

     This Compliance Certificate (this “Certificate”) is furnished pursuant to Section 4.03(b) of
the Indenture dated as of November 18, 2008 (the “Indenture”) among Superior Well Services, Inc., a
Delaware corporation, Superior GP, L.L.C., a Delaware limited liability company, Superior Well
Services, Ltd., a Pennsylvania limited partnership, SWSI Fluids, LLC, a Delaware limited liability
company, Wilmington Trust FSB and any and all successors thereto, as trustee, and Wilmington Trust
FSB and any and all successors thereto, as collateral agent. Unless otherwise defined herein, all
capitalized terms in this Certificate shall have the meanings assigned to such terms in the
Indenture.

     The undersigned, [                                        ], hereby certifies that [he/she] is [an independent certified
public accountant], and, as such, the undersigned is duly authorized to, and does hereby certify as
of the date hereof, that attached hereto as Exhibit 1 the financial statements of the Company
consisting of a consolidated and consolidating balance sheet as of the end of [applicable fiscal
year], and related consolidated and consolidating statements of income, stockholders’ equity and
cash flows for the fiscal year then ended, all in reasonable detail and setting forth in
comparative form the financial statements as of the end of and for the preceding fiscal year

     IN WITNESS WHEREOF, I have hereunto set my hand as this ___ day of                     , 20[___].

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	
 	 

H-1 

 

EXHIBIT 1

Financial Statements

H-2 

 

SCHEDULE 1.01(A)

PERMITTED LIENS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount Outstanding at
	 	 	Repayment Terms	 	August 31, 2008
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Corporate Headquarters — Indiana
	 	 	 	 	 	 	 	 
	building purchase)
	 	$2,222/Mo.	 	$	311,111	 
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Cottondale Alabama and Building
Location)
	 	$4,888/Mo.	 	$	606,222	 
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Mississippi and Building Location)
	 	Approx. $2,100/Mo.	 	$	229,885	 
	 
	 	 	 	 	 	 	 	 
	Fred Young
	 	 	 	 	 	 	 	 
	5222 Alpine Drive
	 	 	 	 	 	 	 	 
	Charleston, WV 25313
	 	 	 	 	 	 	 	 
	(Equipment Purchase — downhole tools)
	 	$4,500/Mo.	 	$	108,000	 

1.01(A)-1 

 

 SCHEDULE 1.01(B)

PERMITTED INDEBTEDNESS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount Outstanding at
	 	 	Repayment Terms	 	August 31, 2008
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Corporate Headquarters — Indiana
	 	 	 	 	 	 	 	 
	building purchase)
	 	$2,222/Mo.	 	$	311,111	 
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Cottondale Alabama and Building
Location)
	 	$4,888/Mo.	 	$	606,222	 
	 
	 	 	 	 	 	 	 	 
	Merchants National Bank of Kittaning
	 	 	 	 	 	 	 	 
	222 Market Street
	 	 	 	 	 	 	 	 
	P.O. Box 958
	 	 	 	 	 	 	 	 
	Kittanning, PA 16201
	 	 	 	 	 	 	 	 
	(Mississippi and Building Location)
	 	Approx. $2,100/Mo.	 	$	229,885	 
	 
	 	 	 	 	 	 	 	 
	Fred Young
	 	 	 	 	 	 	 	 
	5222 Alpine Drive
	 	 	 	 	 	 	 	 
	Charleston, WV 25313
	 	 	 	 	 	 	 	 
	(Equipment Purchase — downhole tools)
	 	$4,500/Mo.	 	$	108,000	 

1.01(B)-1

 

SCHEDULE 4.04(C)

INSURANCE REQUIREMENTS RELATING TO COLLATERAL

COVENANTS:

     At the request of the Administrative Agent, the Obligors shall deliver to the Administrative
Agent (x) on September 30, 2008 and annually thereafter an original certificate of insurance signed
by the Obligors’ independent insurance broker describing and certifying as to the existence of the
insurance on the Collateral required to be maintained by this Agreement and the other Indenture
Documents, together with a copy of the endorsement described in the next sentence attached to such
certificate and (y) from time to time a summary schedule indicating all insurance then in force
with respect to each of the Obligors. Such policies of insurance shall contain special
endorsements, in form and substance acceptable to the Administrative Agent, which shall include the
provisions set forth below. The applicable Obligors shall notify the Administrative Agent promptly
of any occurrence causing a material loss or decline in value of the Collateral and the estimated
(or actual, if available) amount of such loss or decline. Any monies received by the
Administrative Agent constituting insurance proceeds or condemnation proceeds pursuant to any
mortgage may, at the option of the Administrative Agent, (i) be applied by the Administrative Agent
to the payment of the loans under the Credit Agreement in such manner as the Administrative Agent
may reasonably determine, or (ii) be disbursed to the applicable Obligors on such terms as are
deemed appropriate by the Administrative Agent for the repair, restoration and/or replacement of
property in respect of which such proceeds were received.

ENDORSEMENT:

     (b) specify the Administrative Agent and it successors and assigns as an additional insured,
mortgagee and lender loss payee as its interests may appear, with the understanding that any
obligation imposed upon the insured (including the liability to pay premiums) shall be the sole
obligation of the applicable Loan Parties and not that of the insured;

     (c) provide that the interest of the Obligors shall be insured regardless of any breach or
violation by the applicable Obligors of any warranties, declarations or conditions contained in
such policies or any action or inaction of the applicable Obligors or others insured under such
policies;

     (d) provide a waiver of any right of the insurers to set off or counterclaim or any other
deduction, whether by attachment or otherwise;

     (e) provide that any and all rights of subrogation which the insurers may have or acquire
shall be, at all times and in all respects, junior and subordinate to the prior payment in full of
the Credit Agreement and that no insurer shall exercise or assert any right of subrogation until
such time as the Credit Agreement has been paid in full and the commitments under the Credit
Agreement have terminated;

     (f) provide, except in the case of public liability insurance and workmen’s compensation
insurance, that all insurance proceeds for losses of less than $5,000,000 shall be adjusted with
and
payable to the applicable Obligors and that all insurance proceeds for losses of $5,000,000 or
more shall be adjusted with and payable to the Administrative Agent;

4.04(C)-1

 

     (g) include effective waivers by the insurer of all claims for insurance premiums against the
Administrative Agent;

     (h) provide that no cancellation of such policies for any reason (including non-payment of
premium) nor any change therein shall be effective until at least thirty (30) days after receipt by
the Administrative Agent of written notice of such cancellation or change;

     (i) be primary without right of contribution of any other insurance carried by or on behalf of
any additional insureds with respect to their respective interests in the Collateral; and

     (j) provide that inasmuch as the policy covers more than one insured, all terms, conditions,
insuring agreements and endorsements (except limits of liability) shall operate as if there were a
separate policy covering each insured.

4.04(C)-2

 

SCHEDULE 4.05(D)

EXISTING INVESTMENTS

1. Citizens Bank — Money Market

          Amount at October 31, 2008 = $9,020.64

2.
Citizens Investment Services

          Amount at October 31, 2008 = $7,167.23

3. Citizens Bank — Euro Sweep — Transaction

          Amount at November 14, 2008 = $4,014,000

4.05(D)-1

 

SCHEDULE 4.05(G)

AFFILIATE TRANSACTIONS

Accounts Receivable / Revenue:

Snyder Brothers, Inc.

MDS Energy, Inc.

Accounts Payable / Expense:

Mark Ann Industries, Inc.

Armstrong Cement & Supply

Allegheny Mineral Corporation

Sunflower Communications Inc.

Western Fabrication

Lance F. Messinger

Superior Well provides technical pumping services and down-hole surveying services to customers
owned by certain stockholders and directors of Superior. Superior Well also regularly purchases, in
the ordinary course of business, materials from vendors owned by certain stockholders and directors
of Superior.

4.05(G)-1

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