Document:

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                                                                    EXHIBIT 10.1

                          SECURITIES PURCHASE AGREEMENT

                                      AMONG

                        ADVANCED ACCESSORY SYSTEMS, LLC,

                                 AS THE COMPANY,

          THE HOLDERS OF ALL ISSUED AND OUTSTANDING EQUITY INTERESTS IN

                        ADVANCED ACCESSORY SYSTEMS, LLC,

                                   AS SELLERS,

                    J.P. MORGAN PARTNERS (23A SBIC), L.L.C.,

                           AS SELLERS' REPRESENTATIVE

                                       and

                            CHAAS ACQUISITIONS, LLC,

                                    AS BUYER

                           Dated as of April 15, 2003

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                                TABLE OF CONTENTS

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ARTICLE I DEFINED TERMS.............................................................2

     Section 1.1    Definitions.....................................................2
     Section 1.2    Usage...........................................................2

ARTICLE II PURCHASE AND SALE; PURCHASE PRICE........................................2

     Section 2.1    Ancillary Transactions; Brink Acquisition.......................2
     Section 2.2    Purchase and Sale of Units; Rollover............................3
     Section 2.3    Post-Closing Purchase Price Adjustment..........................4
     Section 2.4    Contingent Payments.............................................7
     Section 2.5    Allocation of Purchase Price...................................11
     Section 2.6    The Closing....................................................11
     Section 2.7    Netherlands Capital Tax........................................12

ARTICLE III SEVERAL REPRESENTATIONS AND WARRANTIES CONCERNING THE SELLERS..........12

     Section 3.1    Ownership......................................................12
     Section 3.2    Authorization and Validity of Agreement........................13
     Section 3.3    Consents and Approvals.........................................13
     Section 3.4    No Conflict or Violation.......................................14
     Section 3.5    Litigation.....................................................14
     Section 3.6    Brokers and Finders............................................14
     Section 3.7    NO ADDITIONAL REPRESENTATIONS..................................14

ARTICLE IIIA SEVERAL REPRESENTATIONS AND WARRANTIES OF THE SELLERS CONCERNING
               THE ROLLOVER, THE CONTINGENT PAYMENT NOTES AND THE PROMISSORY
               NOTES...............................................................14

SECTION 3A.1   INVESTMENT REPRESENTATION...........................................15

SECTION 3A.2   RESTRICTED SECURITIES...............................................15

SECTION 3A.3   RESIDENCY...........................................................15

SECTION 3A.4   LEGENDS.............................................................15

ARTICLE IV REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY AND ITS
               SUBSIDIARIES........................................................17

     Section 4.1    Organization and Qualification.................................17
     Section 4.2    Capitalization.................................................17
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     Section 4.3    Subsidiaries...................................................18
     Section 4.4    Consents and Approvals.........................................19
     Section 4.5    No Conflict or Violation; Authorization and Validity...........19
     Section 4.6    Financial Statements...........................................20
     Section 4.7    SEC Documents and Other Reports................................21
     Section 4.8    Litigation.....................................................21
     Section 4.9    Legal Compliance and Governmental Authorizations...............22
     Section 4.10   Environmental Matters..........................................23
     Section 4.11   Brokers and Finders; Company Transaction Expenses..............24
     Section 4.12   Employee Benefit Matters.......................................25
     Section 4.13   Taxes..........................................................27
     Section 4.14   Intellectual Property..........................................30
     Section 4.15   Contracts......................................................32
     Section 4.16   Labor Matters..................................................33
     Section 4.17   Real Property..................................................34
     Section 4.18   Personal Property..............................................36
     Section 4.19   Absence of Certain Changes or Events...........................37
     Section 4.20   Books of Account...............................................37
     Section 4.21   Transactions with Related Persons..............................37
     Section 4.22   Accounts and Notes Receivable..................................38
     Section 4.23   Indebtedness...................................................38
     Section 4.24   Capital Expenditures...........................................38
     Section 4.25   Insurance......................................................39
     Section 4.26   Suppliers......................................................39
     Section 4.27   Customers......................................................39
     Section 4.28   Inventories....................................................40
     Section 4.29   Product Warranty...............................................40
     Section 4.30   Product Liability..............................................40
     Section 4.31   Hedging Agreements.............................................41
     Section 4.32   Competition Act................................................41
     Section 4.33   French Facilities..............................................41
     Section 4.34   NO ADDITIONAL REPRESENTATIONS..................................41

ARTICLE IVA REPRESENTATIONS AND WARRANTIES OF THE BUYER............................42

SECTION 4A.1   DUE AUTHORIZATION/NO CONFLICT.......................................42

SECTION 4A.2   CONSENTS............................................................42

SECTION 4A.3   VALID ISSUANCE......................................................42

SECTION 4A.4   OFFERING............................................................42

ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE BUYER..............................43

     Section 5.1    Organization...................................................43
     Section 5.2    Authorization and Validity of Agreement........................43
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     Section 5.3    Consents and Approvals.........................................43
     Section 5.4    No Conflict or Violation.......................................44
     Section 5.5    Litigation.....................................................44
     Section 5.6    Brokers and Finders............................................45
     Section 5.7    Investment Representation......................................45
     Section 5.8    Resale Restrictions............................................45
     Section 5.9    NO ADDITIONAL REPRESENTATIONS..................................45

ARTICLE VI COVENANTS OF THE SELLERS................................................46

     Section 6.1    Conduct of Business............................................46
     Section 6.2    Company Indebtedness...........................................49
     Section 6.3    Access.........................................................49
     Section 6.4    Maintenance of Records.........................................49
     Section 6.5    Non-Solicitation...............................................50
     Section 6.6    Bank Accounts of the Business..................................50
     Section 6.7    Non-Competition................................................51
     Section 6.8    Employees......................................................51
     Section 6.9    Reserved.......................................................51
     Section 6.10   Reserved.......................................................51
     Section 6.11   Reserved.......................................................51
     Section 6.12   Accruals.......................................................51
     Section 6.13   Releases.......................................................51
     Section 6.14   Confidentiality................................................52
     Section 6.15   Waiver.........................................................53

ARTICLE VII COVENANTS OF THE BUYER.................................................53

     Section 7.1    Equity Plans...................................................53
     Section 7.2    9 3/4% Notes...................................................53
     Section 7.3    French Facility Disposition....................................53
     Section 7.4    Ranking of Notes...............................................54
     Section 7.5    Post-Closing Notifications.....................................55
     Section 7.6    Additional Indebtedness........................................55
     Section 7.7    Redemption.....................................................55
     Section 7.8    Affiliate Transactions.........................................55
     Section 7.9    Management and Advisory Fees...................................55

ARTICLE VIII COVENANTS OF THE BUYER AND THE SELLERS................................56

     Section 8.1    Notices of Certain Events......................................56
     Section 8.2    Reserved.......................................................56
     Section 8.3    Reserved.......................................................56
     Section 8.4    Public Announcement............................................56
     Section 8.5    Filing of Returns and Payment of Taxes.........................56
     Section 8.6    Tax Refunds....................................................57
     Section 8.7    Transfer Taxes.................................................58
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     Section 8.8    Notice of Audit................................................58
     Section 8.9    Directors' and Officers' Indemnification.......................58
     Section 8.10   Gibbs Litigation Procedures....................................59
     Section 8.11   Czech Competition Act Filing...................................63

ARTICLE IX SURVIVAL AND INDEMNIFICATION............................................63

     Section 9.1    Survival of Representations and Warranties.....................63
     Section 9.2    Indemnification by the Sellers.................................63
     Section 9.3    Indemnification by the Buyer and the Company...................64
     Section 9.4    Indemnification Procedures.....................................64
     Section 9.5    Additional Indemnity Provisions................................65
     Section 9.6    Treatment of Indemnity Payments for Tax Purposes...............70
     Section 9.7    Tax Contests...................................................70
     Section 9.8    Tax Treatment..................................................71
     Section 9.9    Contribution among Sellers.....................................71
     Section 9.10   Reserve Account................................................72

ARTICLE X CONDITIONS...............................................................73

     Section 10.1   Conditions to Obligations of Each Party........................73
     Section 10.2   Conditions Precedent to the Obligations of the Sellers.........73
     Section 10.3   Conditions Precedent to the Obligations of the Buyer...........74

ARTICLE XI TERMINATION.............................................................76

     Section 11.1   Termination....................................................76
     Section 11.2   Effect of Termination..........................................76

ARTICLE XII MISCELLANEOUS..........................................................77

     Section 12.1   Appointment of Sellers' Representative.........................77
     Section 12.2   Notices........................................................78
     Section 12.3   Entire Agreement...............................................80
     Section 12.4   Assignment; Binding Effect.....................................80
     Section 12.5   Fees and Expenses..............................................80
     Section 12.6   Amendments.....................................................81
     Section 12.7   Waivers........................................................81
     Section 12.8   Severability...................................................81
     Section 12.9   Captions.......................................................81
     Section 12.10  Counterparts...................................................81
     Section 12.11  Governing Law..................................................81
     Section 12.12  Consent to Jurisdiction........................................82
     Section 12.13  Limitations of Remedies........................................82
     Section 12.14  Currency Translation...........................................82
     Section 12.15  Further Assurances.............................................82
     Section 12.16  Buyer Obligations..............................................82
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          SECURITIES PURCHASE AGREEMENT dated as of April 15, 2003, among
Advanced Accessory Systems, LLC, a Delaware limited liability company (the
"COMPANY"), each of the individuals and entities identified as "Sellers" on
Schedule A attached hereto (each a "SELLER" and, collectively, the "SELLERS"),
J. P. Morgan Partners (23A SBIC), L.L.C., in its capacity as "Sellers'
Representative," and CHAAS Acquisitions, LLC, a Delaware limited liability
company (the "BUYER").

                                   ----------

          WHEREAS, the Sellers are the holders of 100% of (a) the issued and
outstanding membership interests of the Company consisting of Class A units
("CLASS A UNITS") and Class A-1 units ("CLASS A-1 UNITS", and, together with the
Class A Units, the "UNITS"), (b) the outstanding Warrants and (c) the
outstanding options ("OPTIONS") to purchase Units issued pursuant to equity
incentive plans of the Company (the "OPTION PLANS").

          WHEREAS, the Sellers have executed this Agreement agreeing to, among
other things, (a) the sale by the Transferring Sellers of the Purchased Company
Securities for the Aggregate Cash Proceeds and the other consideration set forth
herein, (b) the conversion by Rollover Sellers of the Rollover Units for New
Units and the other consideration set forth herein and (c) the conversion by
Rollover Sellers of the Rollover Options for New Options and the other
consideration set forth herein, all on the terms and conditions set forth in
this Agreement (collectively, the "AAS ACQUISITION").

          WHEREAS, at the Closing each outstanding Option that is not then
vested, including as a result of the consummation of the Transaction (as defined
in Section 2.1(a)), shall terminate and be cancelled, without payment therefor.

          WHEREAS, on the Closing Date but prior to the consummation of the AAS
Acquisition, the Buyer has agreed to cause CHAAS Holdings B.V., a Netherlands
BESLOTEN VENNOOTSCHAP MET BEPERKTE AANSPRAKELIJKHEID and an indirect
wholly-owned subsidiary of the Buyer ("HOLDINGS BV") to, among other things,
acquire all of the fully-diluted issued and outstanding equity interests (the
"BRINK SECURITIES") of Brink International B.V., a Netherlands BESLOTEN
VENNOOTSCHAP MET BEPERKTE AANSPRAKELIJKHEID and an indirect wholly-owned
subsidiary of the Company ("BRINK INTERNATIONAL") from AAS Holdings, Inc., a
Delaware corporation and a direct wholly-owned subsidiary of the Company ("AAS
HOLDINGS") and the Company has agreed to cause AAS Holdings to, among other
things, sell to Holdings BV all of the Brink Securities (collectively, the
"BRINK ACQUISITION") on the terms set forth herein.

          WHEREAS, the Buyer and/or the Company or one of its Subsidiaries, on
the one hand, and each of the employees of the Company or one of its
Subsidiaries set forth on Schedule B, on the other hand, are entering into
concurrently with the execution and delivery of this Agreement employment
agreements in the forms attached hereto as Exhibits A1-A3 (collectively, the
"EMPLOYMENT AGREEMENTS).

          WHEREAS, the Buyer and each of the Rollover Sellers are entering into
concurrently with the execution and delivery of this Agreement (a) an Operating
Agreement of

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the Buyer in the form attached hereto as Exhibit B (as amended, modified or
supplemented from time to time, the "BUYER'S OPERATING AGREEMENT"), (b) a
Rollover Securities Repurchase Agreement in the form attached hereto as
Exhibit C (as amended, modified or supplemented from time to time, the "ROLLOVER
SECURITIES REPURCHASE AGREEMENT") and (c) with respect to those Rollover Sellers
receiving New Options at Closing, a New Option Agreement in the form attached
hereto as Exhibit D (as amended, modified or supplemented from time to time, the
"NEW OPTION AGREEMENT").

          WHEREAS, the Buyer and certain of the employees of the Company or one
of its Subsidiaries are entering into concurrently with the execution and
delivery of this Agreement a Management Subscription Agreement in the form
attached hereto as Exhibit G (as amended, modified or supplemented from time to
time, the "MANAGEMENT SUBSCRIPTION AGREEMENT") and a Unit Vesting Repurchase
Agreement in the form attached hereto as Exhibit E (as amended, modified or
supplemented from time to time, the "UNIT VESTING REPURCHASE AGREEMENT")
relating to the "Restricted Units" (as defined in the Unit Vesting Repurchase
Agreement) purchased by such employees at the Closing.

          NOW, THEREFORE, in consideration of, and premised upon, the various
representations, warranties, covenants and other agreements and undertakings of
the parties hereto contained in this Agreement, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

                                    ARTICLE I

                                  DEFINED TERMS

          Section 1.1   DEFINITIONS. The terms defined in Annex I, whenever used
herein, shall have the meanings set forth in Annex I for all purposes of this
Agreement:

          Section 1.2   USAGE. Unless the context of this Agreement otherwise
requires (a) words of any gender are deemed to include each other gender; (b)
words using singular or plural number also include the plural or singular
number, respectively; (c) the terms "HEREOF," "HEREIN," "HEREBY," "HERETO", and
derivative or similar words refer to this entire Agreement; (d) the terms
"ARTICLE" or "SECTION" refer to the specified Article or Section of this
Agreement; (e) all references to "DOLLARS" or "$" refer to currency of the
United States of America; (f) the term "or" is not exclusive, (g) the words
"INCLUDE," "INCLUDING" and their derivatives mean "including without limitation"
and (h) all accounting terms used herein shall have the meanings assigned to
them under GAAP, unless another meaning is specified herein.

                                   ARTICLE II

                        PURCHASE AND SALE; PURCHASE PRICE

          Section 2.1   ANCILLARY TRANSACTIONS; BRINK ACQUISITION.

          (a)     The parties shall cause the transactions described on
Schedule D (collectively, the "ANCILLARY TRANSACTIONS," and, together with the
Brink Acquisition and the AAS Acquisition, the "TRANSACTION") to take place in
accordance with Schedule D and pursuant

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to documentation prepared by the Buyer or its counsel and reasonably acceptable
to the Company and the Sellers' Representative. The Buyer shall pay or reimburse
the Company at Closing for any capital contributions and filing fees incurred by
the Company and its Subsidiaries at the direction of the Buyer in performing
their obligations under Schedule D for which the Company has delivered to the
Buyer documentation (the "ANCILLARY EXPENSES").

          (b)     Subject to the terms and conditions set forth herein, on the
Closing Date but prior to the consummation of the AAS Acquisition and in
accordance with Schedule D, the Buyer shall cause Holdings BV and the Company
shall cause AAS Holdings to consummate the Brink Acquisition in furtherance of
which the Buyer shall cause Holdings BV to pay in cash to AAS Holdings, by wire
transfer of immediately available funds to an account designated by the Company
to the Buyer, an amount equal to $11,066,000.00 (the "BRINK EQUITY
CONSIDERATION" and together with the amounts received by AAS Holdings from
Holdings BV pursuant to the Brink Receivable Acquisition (as defined in Schedule
D hereto), the "AGGREGATE BRINK INTERNATIONAL CONSIDERATION"), against delivery
by AAS Holdings to Holdings BV or its designee of all certificates, documents
and instruments representing the Brink Securities.

          Section 2.2   PURCHASE AND SALE OF UNITS; ROLLOVER.

          (a)     PURCHASED COMPANY SECURITIES. Subject to the terms and
conditions set forth herein, including the prior consummation of the Brink
Acquisition and the Ancillary Transactions, at the Closing, each Transferring
Seller shall sell to the Buyer, and the Buyer shall purchase from each
Transferring Seller, all Purchased Company Securities owned by such Transferring
Seller.

          (b)     PAYMENTS. Subject to the terms and conditions set forth
herein, including, without limitation, Sections 2.2(d) and (e), at the Closing,
in consideration for each Transferring Seller's delivery of his, her or its
Purchased Company Securities:

                        (i)   the Buyer shall pay to such Transferring Seller,
in cash, for each Unit so purchased from such Transferring Seller, the Per Unit
Cash Purchase Price, and for each Option or Warrant so purchased from such
Transferring Seller, the Per Unit Cash Purchase Price MINUS the exercise price
of such Option or Warrant as set forth on Schedule A hereto (with the aggregate
amount of cash payable to each Transferring Seller pursuant to this
Section 2.2(b)(i) being referred to herein as such Seller's "AGGREGATE CASH
PROCEEDS"); and

                        (ii)  the Buyer shall cause SportRack and Valley
(together, the "PROMISSORY NOTE OBLIGORS") to deliver to each Transferring
Seller a Promissory Note substantially in the form attached hereto as Exhibit F,
with a principal amount equal to such Transferring Seller's Percentage Interest
of $10,000,000.

          (c)     ROLLOVER. Subject to the terms and conditions set forth
herein, at the Closing, the following transactions shall be effected with
respect to the Rollover Units and the Rollover Options (the "ROLLOVER"):

                        (i)   each Rollover Seller shall exchange the number of
Rollover Units, if any, designated in the column "Rollover Units" corresponding
to such Rollover Seller as set forth on Schedule A hereto (collectively, the
"ROLLOVER UNITS") for newly issued securities

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comprised of Common Units and Preferred Units (the "NEW UNITS"), based on a
consideration per New Unit equal to the per unit purchase price to be paid for
the New Units on the Closing Date by the Buyer with each Rollover Unit being
valued at the Per Unit Cash Purchase Price and in the same proportion of Common
Units and Preferred Units as all equity holders of the Buyer are purchasing New
Units at the Closing.

                        (ii)  each Rollover Seller shall convert the number of
Rollover Options, if any, designated in the column Rollover Options
corresponding to such Seller as set forth on Schedule A hereto, into New Options
that are exercisable for the same number of New Units as if each Unit into which
such Option could be exercised was exchanged for New Units hereunder in
accordance with clause (c)(i) above. Notwithstanding anything to the contrary
contained herein or in any Principal Document, no New Units or New Options (or
securities into which they may be exchanged, converted or exercised) shall be
subject to vesting or, with respect to New Options, termination of the exercise
period, except that each New Option and New Unit shall be subject to the terms
and conditions contained in the Rollover Securities Repurchase Agreement
relating to such Rollover Securities and all New Options shall be subject to the
terms and conditions contained in the New Option Agreement. Each Option Plan and
each agreement or instrument governing any Rollover Option shall be terminated
effective as of the Closing.

                        (iii) the Buyer shall cause the Promissory Note Obligors
to deliver to each Rollover Seller a Promissory Note with a principal amount
equal to such Rollover Seller's Percentage Interest of $10,000,000 minus the
principal amount, if any, of any Promissory Note received by such Rollover
Seller pursuant to Section 2.2(b)(ii) in his or her capacity as a Transferring
Seller.

          (d)     DIRECTION OF PAYMENTS. Each Seller, other than Barbara
Rushing, hereby directs the Buyer to deliver a portion of such Seller's
Aggregate Cash Proceeds as follows:

                        (i)   an amount equal to such Seller's Percentage
Interest of $10,000,000, which shall be paid into escrow pursuant to the Escrow
Agreement;

                        (ii)  an amount equal to such Seller's Percentage
Interest of the amount of the Gibbs Cash Collateral Account designated in
Section 8.10, to an account established at Bank One, Michigan or such other
financial institution designated by Sellers' Representative as is reasonably
acceptable to the Buyer (the "CASH COLLATERAL BANK" ); and

                        (iii) an amount equal to such Seller's Reserve Account
Percentage Interest of $250,000 as designated for the Reserve Account
established pursuant to Section 9.10, to the Sellers' Representative; PROVIDED,
that the Buyer shall make no such payment on behalf of the Sellers'
Representative.

          (e)     PAYMENTS TO SELLERS' REPRESENTATIVE. All cash payments to the
Sellers under this Section 2.2 shall be made directly to the Sellers'
Representative who shall be solely responsible for the distribution of such
proceeds to the Sellers in accordance with their respective Percentage Interests
and the provisions of this Agreement.

          Section 2.3   POST-CLOSING PURCHASE PRICE ADJUSTMENT.

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          (a)     FINAL CLOSING STATEMENT

                        (i)   Within 90 days after the Closing Date, the Buyer
shall deliver a statement (the "FINAL CLOSING STATEMENT") prepared by the Buyer
to the Sellers' Representative, which contains (x) a statement of consolidated
net assets of the Company, as of immediately prior to the Closing, before giving
effect to the Transaction, prepared in accordance with GAAP and in the form
attached hereto as Exhibit H (the "STATEMENT OF CONSOLIDATED NET ASSETS"), which
Statement of Consolidated Net Assets shall be accompanied by an audit opinion of
Deloitte & Touche LLP (the "BUYER'S AUDITOR") in substantially the form attached
hereto as Exhibit I, (y) a computation of the Adjusted Working Capital as of
immediately prior to the Closing, before giving effect to the Transaction, which
shall be derived from the Statement of Consolidated Net Assets and prepared in
accordance with the Accounting Principles outlined in Exhibit J (the "FINAL
ADJUSTED WORKING CAPITAL"), and (z) a computation of the Cash Equivalents of the
Company and its Subsidiaries, prepared in accordance with GAAP, as of
immediately prior to the Closing, before giving effect to the Transaction (the
"FINAL CASH BALANCES").

                        (ii)  The Sellers' Representative shall provide written
notice of any objections to the Final Closing Statement, together with an
explanation of the basis of such objection (the "NOTICE OF OBJECTION"), within
60 days of the delivery of the Final Closing Statement. Promptly following the
delivery of the Final Closing Statement and until any such objections are
resolved pursuant to the application of Section 2.3(b) of this Agreement, the
Sellers' Representative and its advisors shall be entitled to review, at
Sellers' sole expense, the Buyer's work papers (hardcopy and electronic)
including Buyer's Auditor's work papers and any summaries of unadjusted
differences that are not proprietary to the Buyer's Auditor relating to the
Final Closing Statement. The Buyer shall provide the Sellers' Representative and
its advisors with timely access to the personnel, properties, books and records
of any of the Buyer's Subsidiaries during regular business hours and upon
advance written notice solely to the extent reasonably necessary for Sellers'
Representative and its advisors to conduct such review.

          (b)     OBJECTIONS; RESOLUTION OF DISPUTES.

                        (i)   Except as to objections duly set forth in any
Notice of Objection made within 60 days after the receipt of the Final Closing
Statement, the Final Closing Statement shall be final and binding for all
purposes of this Agreement.

                        (ii)  If the Sellers' Representative provides the Notice
of Objection within such 60-day period, the Buyer and the Sellers'
Representative shall, during the 30-day period following the delivery of such
Notice of Objection, attempt in good faith to resolve the objections. If the
Buyer and the Sellers' Representative are unable to resolve all such objections
within such period, the matters remaining in dispute and which were properly
included in the Notice of Objection shall be arbitrated by Ernst & Young LLP, or
KPMG LLP, if Ernst & Young LLP is unwilling or unable to perform such services
(such determining firm being the "INDEPENDENT AUDITOR"). The arbitration of
disputed items by the Independent Auditor shall be final and binding, and the
determination of the Independent Auditor shall constitute an arbitral award that
is final, binding and non-appealable and upon which a judgment may be entered by
a court having jurisdiction thereover. The Buyer and the Sellers' Representative
shall instruct the Independent Auditor to render its decision within 30 days of
its selection.

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                        (iii) In the event that the Independent Auditor resolves
all disputes presented to it entirely in the manner proposed by the Buyer or the
Seller's Representative, as the case may be, the fees and expenses of the
Independent Auditor relating to the resolution of such dispute shall be paid by
the other party. In all other events, the fees and expenses of the Independent
Auditor shall be shared (with respect to the Sellers, pro rata in accordance
with their Percentage Interests) in the same proportion that the Sellers'
Representative's position, on the one hand, and the Buyer's position, on the
other hand, initially presented to the Independent Auditor (based on the
aggregate of all differences taken as a whole) bear to the final resolution as
determined by the Independent Auditor.

          (c)     ADJUSTMENT PAYMENT.

                        (i)   The following payments shall be made within 10
days after Final Adjusted Working Capital and the Final Cash Balances have been
agreed or finally determined in accordance with Section 2.3(b):

                              (A)  if the amount of Final Adjusted Working
Capital exceeds Target Working Capital, the Buyer shall pay to each Seller its
pro rata share, based on such Seller's Percentage Interest, of the full amount
of such excess, plus simple interest thereon at the rate of 6% per annum from
the Closing Date to the date of payment;

                              (B)  if the amount of Final Adjusted Working
Capital is less than Target Working Capital, each Seller shall pay to the Buyer
its pro rata share, based on each Seller's Percentage Interest, of the full
amount of such shortfall, plus simple interest thereon at the rate of 6% per
annum from the Closing Date to the date of payment;

                              (C)  if the amount of the Final Cash Balances
exceeds the aggregate amount of Cash Equivalents used in the calculation of Net
Indebtedness, as certified in writing by the Company's Chief Financial Officer
to the Buyer on the Closing Date (the "ESTIMATED CASH BALANCES"), the Buyer
shall pay to each Seller its pro rata share, based on such Seller's Percentage
Interests, of the full amount of such excess, plus simple interest thereon at
the rate of 6% per annum from the Closing Date to the date of payment;

                              (D)  if the amount of Final Cash Balances is less
than the Estimated Cash Balances, each Seller shall pay to the Buyer its pro
rata share, based on each Seller's Percentage Interest, of the full amount of
such shortfall, plus simple interest thereon at the rate of 6% per annum from
the Closing Date to the date of payment.

                        (ii)  Any and all payments to be made pursuant to this
Section 2.3 shall be made simultaneously and netted against each other as
appropriate.

                        (iii) In the case of any net payment from the Sellers to
the Buyer under this Section 2.3, the Buyer and the Sellers agree that such
payment shall be applied first against the available funds held in escrow under
the Escrow Agreement. In such case, the Buyer (or its designated representative
under the Escrow Agreement) and the Sellers' Representative shall deliver a
joint written instruction to the escrow agent under the Escrow Agreement within
two (2) Business Days of the final determinations made under Section 2.3(b)(ii)
and (iii) to distribute such funds to the Buyer (or its designee). In all other
cases,

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payments due under this Section 2.3 shall be made by wire transfer of
immediately available funds to an account designated by the Buyer to the Sellers
or to the accounts designated by the Sellers' Representative to the Buyer, as
the case may be.

          Section 2.4   CONTINGENT PAYMENTS.

          (a)     The Buyer shall pay the Sellers, pro rata in accordance with
each Seller's Percentage Interest, the Contingent Payment Amount to the extent
and on the terms set forth in this Section 2.4.

          (b)     Unless a Change in Control has occurred during any Contingent
Payment Measurement Period, in which case Section 2.4(d) shall address any
Yearly Allocable Contingent Payments remaining to be paid after the consummation
thereof, the determination of whether any Yearly Allocable Contingent Payments
shall be payable to the Sellers shall be made as follows:

                        (i)   As promptly as practicable following the end of
each Contingent Payment Measurement Period (and the completion of the relevant
audited financial statements necessary to make any calculations required under
this Section 2.4(b)), the Buyer shall prepare and deliver to the Sellers'
Representative a statement (the "CONTINGENT PAYMENT STATEMENT"), as of each
Determination Date, derived from the annual consolidated audited financial
statements of the Buyer and its Subsidiaries for such Contingent Payment
Measurement Period, which shall indicate (x) the Adjusted Consolidated EBITDA
for such Contingent Payment Measurement Period, (y) the Yearly Contingent
Payment, if any, for such Contingent Payment Measurement Period and (z) the
calculations used to determine such Adjusted Consolidated EBITDA and Yearly
Contingent Payment.

                        (ii)  Unless the Sellers' Representative notifies the
Buyer in writing within 60 days after receipt of any Contingent Payment
Statement of any objection to such Contingent Payment Statement, together with
an explanation of the basis for such objection, then the Contingent Payment
Statement shall be final and binding for all purposes of this Agreement. If the
Sellers' Representative shall object within such 60-day period to the Contingent
Payment Statement, then the dispute resolution procedures set forth in
Sections 2.3(b)(ii) and (iii) shall govern such dispute, with the term "Final
Closing Statement" being replaced by the term "Contingent Payment Statement".

          (c)     Within 10 days after the Contingent Payment Statement becomes
final and binding, the Buyer shall pay to the Sellers, pro rata in accordance
with each Seller's Percentage Interest, in immediately available funds such
portion of the Yearly Contingent Payment for such Contingent Payment Measurement
Period, if any, to the extent the payment of which would not be reasonably
likely to result in or cause, without giving effect to the passage of time at
the time of such payment or during the fiscal quarter in which such payment is
otherwise due, an "Event of Default" under any agreement, indenture or
instrument of Indebtedness for borrowed money to which the Buyer or any of its
Subsidiaries is bound (collectively, the "BUYER CREDIT AGREEMENTS"). Any portion
of such Yearly Contingent Payment that is not paid in cash at such

                                        7
<Page>

time due to the foregoing restriction related to the Buyer Credit Agreements
shall instead be paid to Sellers in the form of subordinated promissory notes
issued by the Promissory Note Obligors in the form attached hereto as Exhibit K
(the "CONTINGENT PAYMENT NOTES") pro rata in accordance with their Percentage
Interests; PROVIDED, HOWEVER, that if any Contingent Payment Note is issuable
hereunder to any Seller organized under the Laws of the Netherlands (in the case
of Sellers that are not natural Persons) or any Seller (in the case of Sellers
that are natural Persons) that resides in the Netherlands at the time of
issuance of such Contingent Payment Note (each, a "NETHERLANDS DOMICILIARY") in
an aggregate principal amount which is less than EURO 45,379 and such Seller is
not eligible to be issued a Contingent Payment Note in such amount without
registration under the Laws of the Netherlands, the payment of such Contingent
Payment Amount will, instead of being evidenced by the issuance of a Contingent
Payment Note, be made by increasing the principal amount owing from the date of
such increase for all purposes under the Promissory Note issued to each such
Netherlands Domiciliary by such amount; PROVIDED that such Netherlands
Domiciliary shall have certified to the Buyer and the Promissory Note Obligors
at such time that it is a Netherlands Domiciliary. The Buyer shall cause the
Promissory Note Obligors to issue to any such Netherlands Domiciliary a new
Promissory Note upon delivery of the original Promissory Note issued to such
Netherlands Domiciliary reflecting such increase in the principal amount of such
Promissory Note. The Contingent Payment Notes (and the Promissory Notes issued
to any Netherlands Domiciliary in accordance with the immediately preceding
sentence, solely to the extent of such increased principal amount and accrued
and unpaid interest thereon) shall provide that, following the end of each
fiscal year in which any Contingent Payment Notes are outstanding, the
Promissory Note Obligors thereon shall prepay or repay in cash the maximum
amount outstanding pursuant to the Contingent Payment Notes to the extent the
payment of which would not be reasonably likely to result in or cause, without
giving effect to the passage of time, at the time of such payment or during the
fiscal quarter in which such amount, if any, payable to the Sellers is to be
made, an "Event of Default" under any of the Buyer Credit Agreements. Such
payments shall be made ratably to all holders of Contingent Payment Notes (and
the holders of Promissory Notes that are Netherlands Domiciliaries to the extent
of such increased amounts together with accrued and unpaid interest thereon as
provided in the immediately preceding sentence) and shall be made promptly
following the delivery by the Buyer or the obligors under the Senior Buyer
Credit Agreement of the covenant compliance certificate for the fiscal year then
ended to the lenders (or any agent thereof) under the Senior Buyer Credit
Agreement. Any dispute concerning any such payment shall be governed by
Section 2.3(b)(ii) and (iii) hereof.

          (d)     Upon a Change in Control, a Designated Public Offering or a
Designated CHP Sale (each, a "LIQUIDITY EVENT"), consummated before March 31,
2006, the portion of the Contingent Payment Amount that has not yet been paid to
the Sellers or earned by the Sellers prior to the date of such Liquidity Event
shall be treated as follows:

                        (i)   Within 20 days after the relevant Determination
     Date, the Buyer or any successor shall prepare and deliver to the Sellers'
     Representative a statement (the "LIQUIDITY EVENT STATEMENT") as of the
     Determination Date, which shall indicate (x) the Total Equity Value in such
     Liquidity Event, (y) the Liquidity Event Payment with respect to such
     Liquidity Event and (z) the calculations used to determine such Total
     Equity Value and the Liquidity Event Payment.

                                        8
<Page>

                        (ii)  Unless the Sellers' Representative notifies the
     Buyer in writing within 60 days after receipt of the Liquidity Event
     Statement of any objection to the Liquidity Event Statement, then the
     Liquidity Event Statement shall be final and binding for all purposes of
     this Agreement. If the Sellers' Representative shall object within such
     60-day period to the Liquidity Event Statement, then the dispute resolution
     procedures set forth in Sections 2.3(b)(ii) and (iii) shall govern such
     dispute, with the term "Final Closing Statement" being replaced by the term
     "Liquidity Event Statement".

                        (iii) Subject to the following proviso, within 10 days
     after the Liquidity Event Statement becomes final and binding, the Buyer or
     its successor shall pay in immediately available funds to the Sellers (pro
     rata in accordance with each Seller's Percentage Interest) the Liquidity
     Event Payment, if any, as indicated on the final Liquidity Event Statement;
     PROVIDED, HOWEVER, that if the Liquidity Event giving rise to such payment
     is

                              (A)  a Designated Public Offering, the Buyer shall
be obligated to pay only a percentage of the Liquidity Event Payment, if any, as
indicated in the Liquidity Event Statement, that is equal to the percentage of
the Castle Harlan Group's economic equity interest, whether in the form of
Common Units, Preferred Units or otherwise, that was sold or redeemed in
connection with such Designated Public Offering (valuing such interests as
provided in the definition of Designated Public Offering) and the remaining
unpaid portion of the Contingent Payment Amount shall not be paid at such time
and shall continue to be subject to the provisions of this Section 2.4; or

                              (B)  a Designated CHP Sale, the Buyer shall be
obligated to pay only a percentage of the Liquidity Event Payment, if any, as
indicated in the Liquidity Event Statement, that is equal to the percentage of
the Castle Harlan Group's economic equity interest, whether in the form of
Common Units, Preferred Units or otherwise, that was sold in such Designated CHP
Sale (valuing such equity interests as provided in the definition of Designated
CHP Sale) and the remaining unpaid portion of the Contingent Payment Amount
shall not be paid at such time and shall continue to be subject to the
provisions of this Section 2.4. For purposes of a Designated CHP Sale that
arises from a sale of assets in which all or a portion of the proceeds therefrom
are distributed, directly or indirectly, to member(s) of the Castle Harlan
Group, the above calculation shall be made by reference to the amounts returned
to member(s) of the Castle Harlan Group, whether through a distribution of the
proceeds therefrom, the redemption of equity interests in the Buyer or any of
its Subsidiaries or their respective successors, or the repayment or prepayment
of Indebtedness held by members of the Castle Harlan Group that is, by its
terms, convertible into, or exercisable or exchangeable for, equity securities
of the Buyer or any of its Subsidiaries, in respect of such asset sale (it being
understood and agreed that, for the avoidance of doubt, any benefit to the Buyer
or any of its Subsidiaries arising from any Designated CHP Sale, including an
increase in cash or Cash Equivalents or reduction in Indebtedness of the Buyer
or any of its Subsidiaries, shall not constitute an "indirect" dividend,
distribution or proceed to any member of the Castle Harlan Group).

                        (iv)  If the remaining portion of the Contingent Payment
Amount has not been earned in full by the Sellers due to the items specified in
clause (C) of

                                        9
<Page>

paragraph (ii) under the definition of "Total Equity Value", then promptly after
each payment of any such items required by the agreement or agreements governing
such Liquidity Event, the Buyer or its successor shall prepare a revised
Liquidity Event Statement (the "REVISED LIQUIDITY EVENT STATEMENT"), taking into
account the amounts of such payments in calculating the further portion of the
Liquidity Event Payment that is payable to Sellers as a result of such payments
and taking into account that such payments were made on the date actually
received.

                        (v)   Unless the Buyer notifies the Sellers'
     Representative or the Sellers' Representative notifies the Buyer in writing
     within 60 days after receipt of the Revised Liquidity Event Statement of
     any objection to the Revised Liquidity Event Statement, together with an
     explanation of the basis for such objection, then the Revised Liquidity
     Event Statement shall be final and binding for all purposes of this
     Agreement. If either the Buyer or the Sellers' Representative shall object
     within such 60-day period to the Revised Liquidity Event Statement, then
     the dispute resolution procedures set forth in Sections 2.3(b)(ii) and
     (iii) shall govern such dispute, with the term "Final Closing Statement"
     being replaced by the term "Revised Liquidity Event Statement".

                        (vi)  Within 10 days of the final determination of each
     Revised Liquidity Event Statement, the Buyer or its successor shall pay to
     the Sellers, pro rata in accordance with each Seller's Percentage Interest,
     in immediately available funds the portion of the Liquidity Event Payment
     not previously paid upon the Liquidity Event, if any, to the extent
     provided in the Revised Liquidity Event Statement.

          (e)     No portion of the Contingent Payment Amount, other than such
portion for which the Buyer is in default in the payment thereof, shall be
payable and any obligations relating thereto shall be null and void following
the first Change in Control (other than deferred payments required under
Section 2.4(d) and payments required under any Contingent Payment Note issued
pursuant to Section 2.4(c)).

          (f)     Payments of all or any portion of the Contingent Payment
Amount due and payable under this Section 2.4 shall be paid to the Sellers, pro
rata, in accordance with their Percentage Interests.

          (g)     Payments of all or any portion of the Contingent Payment
Amount due and payable to any Seller under this Section 2.4 shall be subject to
setoff by the Buyer (or repayment, in the case of any portion of the Contingent
Payment Amount that had previously been paid to any Seller) for any amounts due
to the Buyer from such Seller to the extent expressly permitted pursuant to
Article IX.

          (h)     The Buyer shall use commercially reasonable efforts to refrain
from subjecting the Buyer and its Subsidiaries to any provision in any agreement
or instrument that expressly prohibits the payment of the Contingent Payment
Amount, the Contingent Payment Notes or the Promissory Notes, it being
understood and agreed that this provision shall not limit or restrict the right
of the Buyer or any of its Subsidiaries from entering into agreements and
instruments governing any Indebtedness for borrowed money of the Buyer or any of
its Subsidiaries that require compliance with financial covenant ratios that
will impact the Buyer's ability to make payment of Contingent Payment Amounts
due under this Agreement or under

                                       10
<Page>

any Contingent Payment Note. The Buyer shall deliver all certificates and other
instruments required under any Buyer Credit Agreement as a condition specified
therein to the payment of any Contingent Payment Amount, any Contingent Payment
Note or Promissory Note.

          (i)     Examples of the operation of this Section 2.4 are set forth on
Schedule 2.4 hereto. The parties hereto acknowledge that such examples
accurately reflect the proper operation of this Section 2.4 with respect to the
facts and assumptions set forth therein.

          (j)     The Buyer covenants and agrees that it shall not permit any
Liquidity Event to be consummated unless in connection therewith, the Buyer
shall have made adequate provision for the timely satisfaction, as the case may
be, of the Buyer's obligations to make any payment of any Contingent Payment
Amount due upon such Liquidity Event, and the Promissory Note Obligors' to make
any payments under the Promissory Notes and Contingent Payment Notes or under
Section 2.4(d) hereof, as applicable, in connection with any such Liquidity
Event. The Buyer shall certify in writing to the Sellers' Representative at the
time any such payment is made to the Sellers that such payment is being made in
compliance with the Buyer Credit Agreements, the Promissory Notes, any
Contingent Payment Notes and the Subordinated Guarantee or a waiver from such
compliance shall have been obtained.

          Section 2.5   ALLOCATION OF PURCHASE PRICE. The purchase price (as
determined for Federal income tax purposes) for the AAS Acquisition shall be
allocated among the assets purchased (or deemed to have been purchased for
Federal income tax purposes) in accordance with Schedule E hereto (in a manner
consistent with the methodology employed in such Schedule E). Neither the Buyer,
the Sellers nor any of their Affiliates shall take any action relating to Taxes
that is inconsistent with such allocation and the Buyer and the Sellers shall
prepare and file Internal Revenue Service Form 8594 and any similar or analogous
forms under any state, local or foreign Tax law in a manner consistent with such
allocation.

          Section 2.6   THE CLOSING

          (a)     DATE, TIME AND LOCATION. The closing of the transactions
contemplated hereby (the "CLOSING") shall be held at the offices of Schulte Roth
& Zabel LLP, 919 Third Avenue, New York, New York 10022 and at such date and
time upon which the parties may agree. The date on which the Closing takes place
is referred to herein as the "CLOSING DATE". The Closing shall be deemed to be
effective as of the close of business, New York City time on the Closing Date.

          (b)     CERTAIN CLOSING PAYMENTS. At the Closing:

                        (i)   Richard E. Borghi shall repay to the Company an
aggregate amount equal to $165,000 (such aggregate amount, the "BORGHI PAYABLE
AMOUNT"), reflecting the outstanding principal and interest on loans previously
made to Mr. Borghi. Mr. Borghi hereby authorizes the Buyer to deduct the Borghi
Payable Amount from his Aggregate Cash Proceeds and pay such amount to the
Company at Closing.

                        (ii)  Pursuant to Section 3 of the Letter Agreement
dated as of August 5, 1997 (as amended, modified or supplemented from time to
time, the "VALLEY LETTER"), Robert L. Fisher shall repay to the Company $791,430
(the "FISHER PAYABLE AMOUNT"). Mr.

                                       11
<Page>

Fisher hereby authorizes the Buyer to deduct the Fisher Payable Amount from his
Aggregate Cash Proceeds and pay such amount to the Company at Closing.

                        (iii) Pursuant to Section 3 of the Valley Letter,
Roger T. Morgan shall repay to the Company $98,790 (the "MORGAN PAYABLE
AMOUNT"). Roger T. Morgan hereby authorizes the Buyer to deduct the Morgan
Payable Amount from his Aggregate Cash Proceeds and pay such amount to the
Company at Closing.

                        (iv)  At the Closing, Barbara Rushing shall pay the
following amounts in immediately available funds:

                              (A)  to the Buyer, an amount equal to her
Percentage Interest of $10,000,000, which shall be paid into escrow pursuant to
the Escrow Agreement;

                              (B)  to the Cash Collateral Bank, an amount equal
to her Percentage Interest of the amount of the Gibbs Cash Collateral Account
designated in Section 8.10; and

                              (C)  to the Sellers' Representative, an amount
equal to her Reserve Account Percentage Interest of $250,000 as designated for
the Reserve Account established pursuant to Section 9.10.

          Section 2.7   NETHERLANDS CAPITAL TAX The Sellers and the Buyer
acknowledge that Netherlands capital tax may be imposed in connection with (a)
the capitalization of Holdings BV in an amount not to exceed the sum of the
Brink Equity Consideration plus $2.6 million, the latter of which shall be used
to repay a portion of the Indebtedness of Brink International in accordance with
Schedule D hereto and (b) approximately EURO 18,000, representing the initial
capitalization of Holdings BV (together, the "HOLDINGS BV CAPITALIZATION") by
AASA (the Netherlands capital tax imposed in connection with the Holdings BV
Capitalization being referred to as the "CAPITAL TAX"). The Buyer shall pay the
Capital Tax. In the event the amount of the Capital Tax actually imposed differs
from the amount taken into account in the determination of Adjusted Working
Capital, or circumstances otherwise arise that result in either Buyer or Sellers
bearing more than 50% of the Capital Tax ultimately determined to be due, Buyer,
on the one hand, or Sellers, on the other hand, as the case may be, shall
reimburse the other party such amount as is necessary so that the Buyer and the
Sellers shall bear 50% of such Capital Tax (and, in the case of any payment by
or to Sellers, such payment to be pro rata in accordance with their Percentage
Interests).

                                   ARTICLE III

          SEVERAL REPRESENTATIONS AND WARRANTIES CONCERNING THE SELLERS

          Each Seller hereby represents and warrants, solely with respect to
such Seller, to the Buyer as follows:

          Section 3.1   OWNERSHIP. Such Seller owns beneficially and of record
all of the issued and outstanding Company Securities as set forth next to such
Seller's name on Schedule 3.1, free and clear of any Liens other than Liens
created pursuant to the Third

                                       12
<Page>

Amended and Restated Operating Agreement, dated September 30, 1999 (the
"OPERATING AGREEMENT") and the Company's Amended and Restated Members'
Agreement, dated September 30, 1999 (the "MEMBERS' AGREEMENT"). Except as set
forth on Schedule 3.1, such Seller does not directly or indirectly, own any
other Company Securities or any warrants, options, convertible or exchangeable
securities, preemptive rights and is not a party to or subject to any contracts
relating to the issuance, sale or transfer of any equity interests of the
Company other than pursuant to the Operating Agreement, the Company's bylaws in
effect on the date hereof (the "BYLAWS") and the Members' Agreement or as
otherwise set forth on Schedule 3.1. In the case of any Seller that is an
individual, such Seller's Company Securities are not subject to any spousal
rights or other restrictions which shall not be waived prior to Closing. Except
as set forth on Schedule 3.1, or as otherwise referenced in this Section 3.1,
such Sellers is not party to any shareholders' agreement, members' agreement,
voting trust, proxy or other agreement or understanding with respect to the
voting or transfer of any of the Units.

          Section 3.2   AUTHORIZATION AND VALIDITY OF AGREEMENT. Such Seller has
the requisite power, authority (if such Seller is not a natural person) and
capacity (if such Seller is a natural Person) to execute, deliver and perform
such Seller's obligations under this Agreement and any Principal Document to
which such Seller is a party and to consummate the transactions contemplated
hereby and thereby in accordance with the terms hereof and thereof. This
Agreement and each Principal Document to which such Seller is a party have been
duly authorized (if such Seller is not a natural Person), executed and delivered
by such Seller and, assuming this Agreement or the relevant Principal Document
constitutes the legal, valid and binding obligation of the other parties
thereto, constitutes the legal, valid and binding obligation of such Seller
(including the obligation to deliver title to such Seller's Purchased Company
Securities, free and clear of all Liens other than Liens imposed under any
Organizational Document of the Company or any of its Subsidiaries), enforceable
against such Seller in accordance with its terms, except as may be limited by
any bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or
other similar Laws affecting the enforcement of creditors' rights generally or
by general principles of equity.

          Section 3.3   CONSENTS AND APPROVALS. (a) Neither the execution and
delivery by such Seller of this Agreement or any Principal Document to which
such Seller is a party nor the performance by such Seller of its obligations in
this Agreement and any Principal Document to which such Seller is a party will
require on the part of such Seller any Governmental Authorization from, approval
of, filing with or notification to any Governmental Entity, except (i) for any
applicable filings required under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended (the "HSR ACT") or required pursuant to any non-U.S.
antitrust and competition law statutes, regulations and treaties, (ii) spousal
consents as set forth on Schedule 3.3a(ii), and attached hereto as duly
executed, or (iii) where the failure to obtain such Governmental Authorization
or approval or to make such filing or notification could not reasonably be
expected to have a Material Adverse Effect, a material adverse effect on such
Seller or prevent the performance by such Seller of its obligations hereunder or
thereunder.

          (b)     Except as contemplated in Section 3.3(a) above or as set forth
on Schedule 3.3, no Seller is or will be required to give any notice to or
obtain any consent or approval from any Person in connection with the
consummation or performance by such Seller

                                       13
<Page>

of any of the transactions contemplated under this Agreement and any Principal
Document to which such Seller is a party.

          Section 3.4   NO CONFLICT OR VIOLATION. Except as set forth on the
corresponding subsection of Schedule 3.4, neither the execution or delivery of
this Agreement by such Seller or any Principal Document to which such Seller is
a party, nor the performance by such Seller of such Seller's obligations in this
Agreement or any Principal Document to which such Seller is a party will, in a
manner that could reasonably be expected to have a Material Adverse Effect: (a)
conflict with or result in a breach of any Organizational Documents if such
Seller is an entity; (b) result in a violation or breach of, or constitute (with
or without notice or lapse of time or both) a default (or give rise to any right
of termination, cancellation or modification) under, any of the terms,
conditions or provisions of any agreement, instrument or obligation to which
such Seller is a party or by which such Seller or any of such Seller's
properties or assets are bound; (c) violate any Law applicable to such Seller or
any of such Seller's properties or assets; or (d) contravene or result in a
violation of, or result in the imposition or creation of any Lien upon or with
respect to such Seller's Company Securities.

          Section 3.5   LITIGATION. There is no suit, action, proceeding or
investigation or any outstanding injunctions, judgments, orders or decrees
(whether at law or equity, before or by any federal, state or foreign
commission, court, tribunal, board, agency or instrumentality, or before any
arbitrator) pending or, to the knowledge of such Seller, threatened against such
Seller, the outcome of which would be reasonably likely to in any material
manner impair such Seller's ability to perform such Seller's obligations
hereunder or under any Principal Document to which it is a party.

          Section 3.6   BROKERS AND FINDERS. Except as set forth on
Schedule 3.6, in connection with this Agreement or the transactions contemplated
hereby, no broker, finder, investment bank or financial advisor has acted for
such Seller. Such Seller has not incurred any obligation to pay a brokerage,
finder's or other fee or commission to any Person, in either case, for which the
Buyer will be liable.

          Section 3.7   NO ADDITIONAL REPRESENTATIONS. SUCH SELLER IS NOT MAKING
ANY REPRESENTATION OR WARRANTY, JOINT OR SEVERAL, EXPRESS OR IMPLIED, OF ANY
NATURE WHATSOEVER WITH RESPECT TO HIMSELF, HERSELF OR ITSELF (EXCEPT FOR THE
REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT), OR WITH
RESPECT TO ANY OTHER EQUITYHOLDER OR THE COMPANY OR ANY OF ITS SUBSIDIARIES
(INCLUDING AS TO ANY OF THE ASSETS, PROPERTIES OR RIGHTS OF THE COMPANY OR ANY
OF ITS SUBSIDIARIES) EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT.

                                  ARTICLE IIIA

                    SEVERAL REPRESENTATIONS AND WARRANTIES OF
                    THE SELLERS CONCERNING THE ROLLOVER, THE
                CONTINGENT PAYMENT NOTES AND THE PROMISSORY NOTES

                                       14
<Page>

          Each Seller hereby represents and warrants, solely with respect to
such Seller, to the Buyer as follows:

          Section 3A.1. INVESTMENT REPRESENTATION. Such Seller acknowledges that
the Promissory Notes and the Contingent Payment Notes (if any) and each Rollover
Seller acknowledges that the New Units or New Options being issued to such
Rollover Seller are not registered under the securities laws of any jurisdiction
and that such Seller is acquiring the Promissory Notes, New Options and New
Units, as applicable, and will acquire any Contingent Payment Notes, for such
Seller's own account, not as a nominee or agent, for investment, and not with a
view to the distribution thereof. Such Seller is a sophisticated investor with
knowledge and experience in financial and business matters, is capable of
evaluating the risks and merits of such Seller's investment in the Promissory
Notes, the Contingent Payment Notes (if any), New Options and New Units, as
applicable, and has the capacity to protect such Seller's own interests. Such
Seller acknowledges that the Buyer has given him, her or it the opportunity to
ask questions of the officers and management employees of the Buyer and its
Subsidiaries, to obtain additional information about the business and financial
condition of the Buyer and its Subsidiaries, and access to the facilities, books
and records relating to the business of the Buyer and its Subsidiaries in order
to evaluate the investment in the Promissory Notes, the Contingent Payment Notes
(if any), New Options and New Units contemplated hereby.

          Section 3A.2. RESTRICTED SECURITIES. Such Rollover Seller understands
that the New Units or New Options being issued to such Rollover Seller and each
Seller understands that the Promissory Notes and the Contingent Payment Notes
(if any) are characterized as "restricted securities" under the federal
securities laws inasmuch as they are being acquired from the Buyer in a
transaction not involving a public offering, and that under such laws and
applicable regulations such securities may not be resold without registration
under the Securities Act unless an exemption from registration thereunder is
available. Such Seller represents that it is familiar with Rule 144 promulgated
under the Securities Act as presently in effect, and understands the resale
limitations imposed thereby and by the Securities Act.

          Section 3A.3. RESIDENCY. The jurisdiction of organization of such
Seller that is not a natural Person and the residence of such Seller that is a
natural Person are set forth on Schedule A hereto.

          Section 3A.4. LEGENDS.

          (a)     NEW UNIT LEGEND. The certificates evidencing the New Units
shall bear the following legends and any other legends provided in the Buyer
Operating Agreement and any Vesting Unit Repurchase Agreement or Rollover
Securities Repurchase Agreement:

          "The membership interests represented by this certificate
     are subject to and have the benefit of the Operating Agreement of
     CHAAS Acquisitions, LLC, a Delaware limited liability company,
     dated as of April 15, 2003, as the same may be amended, modified
     or supplemented from time to time. A copy of the Buyer's
     Operating Agreement has been filed in the chief executive office
     of the Buyer where the same may be inspected daily during
     business hours.

                                       15
<Page>

          The membership interests represented by this certificate
     have not been registered under the Securities Act of 1933, as
     amended (the "SECURITIES ACT"), and such membership interests may
     not be offered, sold, pledged or otherwise transferred except (1)
     pursuant to an exemption from, or in a transaction not subject
     to, the registration requirements under the Securities Act or (2)
     pursuant to an effective registration statement under the
     Securities Act, in each case in accordance with any applicable
     securities laws of any State of the United States."

          (b)     NOTE LEGEND. The Promissory Notes and any Contingent Payment
Note shall bear the following legends:

          "This security has not been registered under the Securities
     Act of 1933, as amended, or any state securities laws and may not
     be offered or sold unless it has been registered under such act
     and applicable state securities laws or unless an exemption from
     registration is available. This security also is subject to
     additional restrictions on transfer by the holder hereof as set
     forth herein."

                                       16
<Page>

                                   ARTICLE IV

                    REPRESENTATIONS AND WARRANTIES CONCERNING
                        THE COMPANY AND ITS SUBSIDIARIES

          The Company hereby represents and warrants to the Buyer, with respect
to the Company and its Subsidiaries (without giving effect to the Brink
Acquisition or the Ancillary Transactions) as follows:

          Section 4.1   ORGANIZATION AND QUALIFICATION. (a) Each of the Company
and its Subsidiaries is a limited liability company, corporation or other
entity, as the case may be, duly organized, validly existing and, to the extent
legally applicable, in good standing and has timely filed all corporate and
similar filings required under the laws of its jurisdiction of formation or
incorporation and has all requisite power and authority and all necessary
material Governmental Authorizations to own, lease and operate its properties
and assets that it purports to own or use and to carry on its business as it is
now being conducted.

          (b)     Schedule 4.1 sets forth a list of all jurisdictions in which
the Company and its Subsidiaries are registered, licensed or qualified. Except
as set forth on Schedule 4.1, each of the Company and its Subsidiaries is duly
registered, licensed or qualified to do business and, to the extent legally
applicable, is in good standing in each jurisdiction where the character of its
properties owned or held under lease makes such registration, licensing or
qualification necessary, except where the failure to so register, be licensed,
qualified or in good standing could not reasonably be expected to have a
Material Adverse Effect. Complete and correct copies of the Organizational
Documents of each of the Company and its Subsidiaries as in effect on the date
hereof have been made available for review by the Company to the Buyer during
the course of Buyer's due diligence visit at the Company's and its Subsidiaries'
facilities or was otherwise furnished.

          Section 4.2   CAPITALIZATION. (a) Schedule 4.2(a) sets forth (i) the
outstanding, number of Units and other Company Securities held by each holder
thereof and the fully diluted ownership percentage of each holder of Units of
the Company and other Company Securities, (ii) the name of each holder of
Options, the number of Options, the current exercise price of all Options issued
under any Option Plan, the number of such Options that are vested and unvested
as of date hereof and as of the Closing Date and a schedule (or, if not based on
the passage of time, the basis for such vesting) of vesting of all unvested
Options and (iii) the name of each holder of Warrants, the number and class of
Units into which such Warrants are currently exercisable and the current
exercise price of such Warrants.

          (b)     Complete and correct copies of each agreement, instrument,
plan or other document evidencing the Options and Warrants have been made
available for review by the Company to the Buyer during the course of Buyer's
due diligence visit at the Company's and its Subsidiaries' facilities or was
otherwise furnished.

          (c)     Except as set forth on Schedule 4.2(c), no outstanding Company
Securities are subject to any Liens agreed to or known by the Company, other
than Liens imposed under the

                                       17
<Page>

Operating Agreement, Members' Agreement and Bylaws which shall be removed at or
prior to Closing.

          (d)     Except as set forth on Schedule 4.2, there are no other equity
interests outstanding in the Company or agreements for any sharing of profits of
the Company.

          (e)     Except as disclosed in Schedule 4.2(e), there are no
outstanding subscriptions, convertible or exchangeable securities, options,
warrants, calls, rights, commitments, agreements, arrangements or undertakings
of any kind to which the Company may be bound obligating the Company to (i)
issue, deliver or sell, or cause to be issued or sold or refrain from issuing,
transferring, delivering or selling any equity interest of the Company, (ii)
issue, grant, extend or enter into any such security, option, warrant, call,
right, commitment, agreement, arrangement or undertaking, (iii) repurchase,
redeem, or otherwise acquire or refrain from repurchasing, redeeming or
otherwise acquiring any equity interest in the Company, (iv) make any payment to
any Person pursuant to any earn-out, deferred payment, contingent payment or
similar arrangement or (v) give any Person the right to vote on any matters on
which any Person may vote on matters affecting the Company.

          Section 4.3   SUBSIDIARIES. (a) Schedule 4.3(a) sets forth a complete
and correct list of the Subsidiaries of the Company.

          (b)     Except as disclosed on Schedule 4.3(b), (i) the Company owns
directly or indirectly, all of the outstanding equity and other ownership
interests of each Subsidiary of the Company and (ii) the Company does not own,
directly or indirectly, any equity or other ownership interests in, or have any
obligation to acquire any equity or other ownership interest in, any Person, and
none of the Company nor any of its Subsidiaries is a member, partner,
stockholder of or otherwise holds any ownership interest or profit participation
in any Person. The Company has no unconsolidated Subsidiaries nor has the
Company or any of its Subsidiaries established any special purpose entity for
any purpose other than Valtek. Schedule 4.3 sets forth a complete and correct
list of director qualifying or comparable equity interests, which interests are
held by employees of the Company or one of its Subsidiaries for the benefit of
the Company or any of its Subsidiaries, and such shares shall not be delivered
to the Buyer at the direction of the Company upon the Closing unless so
requested by the Buyer prior to Closing.

          (c)     Except as disclosed on Schedule 4.3(c), there are no
outstanding subscriptions, convertible or exchangeable securities, options,
warrants, calls, rights commitments, agreements, arrangements or undertakings of
any kind to which the Company or any of its Subsidiaries may be bound obligating
any of the Company's Subsidiaries to (i) issue, deliver or sell, or cause to be
issued or sold or refrain from issuing, transferring, delivering or selling any
equity interest of any Subsidiary of the Company, (ii) issue, grant, extend or
enter into any such security, option, warrant, call, right, commitment,
agreement, arrangement or undertaking, (iii) repurchase, redeem, or otherwise
acquire or refrain from repurchasing, redeeming or otherwise acquiring any
equity interest in any Subsidiary of the Company, (iv) make any payment to any
Person pursuant to any earn-out, deferred payment or similar arrangement or (iv)
give any Person the right to vote on any matters on which an equity holder of
any Subsidiary of the Company may vote.

                                       18
<Page>

          (d)     Except as disclosed on Schedule 4.3(d), there are no
shareholders' agreements, members' agreements, voting trusts, proxy or other
agreements or understandings with respect to the voting or transfer of any
equity interest of any Subsidiary of the Company.

          (e)     Except as set forth on Schedule 4.3(e) or under (i) the Second
Amended and Restated Credit Agreement dated as of September 5, 1997, as amended
by Amendment No. 1 dated as of August 5, 1997, Amendment No. 2 dated as of
September 24, 1997, Amendment No. 3 dated as of December 29, 1997, Amendment No.
4 dated as of December 31, 1997, Amendment No. 5 dated as of December 31, 1998,
Amendment No. 6 dated as of August 10, 1999, Amendment No. 7 dated as of
September 30, 2000, Amendment No. 8 dated as of June 30, 2001, and Amendment No.
9 dated as of December 14, 2001 (the "CREDIT AGREEMENT"), among the Company,
SportRack, Brink International, Brink B.V. and Valley Industries, as Borrowers,
Bank One (formerly NBD Bank) as Administrative Agent and Documentation and
Collateral Agent and The Chase Manhattan Bank as Co-Administrative Agent and
Syndication Agent, (ii) the First Amended and Restated Credit Agreement dated as
of March 19, 1998 (as so amended, the "CANADIAN CREDIT AGREEMENT") among
SportRack International, Inc., First Chicago NBD Bank, Canada, The Chase
Manhattan Bank of Canada and The Bank of Nova Scotia and (iii) any other
financing arrangement of the Company or any of its Subsidiaries as set forth on
Schedule 4.3, no outstanding securities of any Subsidiary are subject to any
Liens.

          (f)     Except as set forth on Schedule 4.3(f), there are no
agreements for any sharing of profits of any Subsidiary of the Company.

          Section 4.4   CONSENTS AND APPROVALS. (a) Neither the execution and
delivery of this Agreement by the Company nor the performance by the Company of
any of its obligations hereunder will require, on the part of the Company or any
of its Subsidiaries, any Governmental Authorization from, filing with, or
notification to, any Governmental Entity, except (i) for any applicable filings
required under the HSR Act or required pursuant to non-US antitrust and
competition law statutes, regulations and treaties, (ii) as set forth on
Schedule 4.4(a) or (iii) where the failure to obtain such Governmental
Authorization or approval or to make such filing or notification could not
reasonably be expected to have a Material Adverse Effect or prevent the
consummation of the transactions contemplated hereby.

          (b)     Except as set forth on Schedule 4.4(b), neither the execution
and delivery of this Agreement by the Company nor the performance by the Company
or any of its Subsidiaries of any of their obligations hereunder will require,
on the part of the Company or any of its Subsidiaries, any notice to or consent
from any Person, other than a Governmental Entity.

          Section 4.5   NO CONFLICT OR VIOLATION; AUTHORIZATION AND VALIDITY.
(a) Neither the execution, delivery or performance of this Agreement nor the
consummation of the transactions contemplated hereby will (i) conflict with or
result in any breach of any of the Organizational Documents of the Company or
any of its Subsidiaries, (ii) except as set forth on Schedule 4.5(a)(ii), result
in a material violation or breach of, or constitute (with or without notice or
lapse of time or both) a material default (or give rise to any right of
termination, modification, requirement to make additional payments,
cancellation, vesting, payment, exercise, acceleration of any payment or right,
suspension or revocation) under, any of the terms, conditions or provisions of
any material Contract (including without limitation Intellectual Property
Contracts) to which the Company or any of its Subsidiaries is a party or by
which it or

                                       19
<Page>

any of its properties or assets are bound, or (iii) except as set forth on
Schedule 4.5(a)(iii), result in the creation or imposition of any Lien on any
material asset of the Company or any of its Subsidiaries or (iv) except as set
forth on Schedule 4.5(a)(iv), contravene, conflict with, or result in a
violation of, any Law or any order to which the Company, any of its Subsidiaries
or any of their properties or assets is subject.

          (b)     The Company has all requisite power and authority to execute
and deliver and perform its obligations under this Agreement and to perform its
obligations hereunder in accordance with the terms hereof. This Agreement has
been duly executed and delivered by the Company and duly and validly authorized
by all limited liability company action, including any action of the Board of
Managers or members of the Company and this Agreement constitutes the legal,
valid and binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as may be limited by any bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or other similar
Laws affecting the enforcement of creditors' rights generally or by general
principles of equity.

          Section 4.6   FINANCIAL STATEMENTS. (a) Schedule 4.6(a) sets forth (i)
the audited consolidated balance sheets of the Company and its Subsidiaries as
of December 31, 2000, 2001 and 2002, and the related audited consolidated
statements of operations, cash flows and changes in members' equity for the
years then ended together with the notes thereto (the balance sheet and
statements as of and for the year ended December 31, 2002, together with the
notes thereto, being referred to as the "DECEMBER 31, 2002 AUDITED FINANCIAL
STATEMENTS and all of the foregoing statements being referred to herein
collectively as the "AUDITED FINANCIAL STATEMENTS"). The Audited Financial
Statements present fairly, in all material respects, in accordance and in
conformity with GAAP, the financial condition and results of operations of the
Company and its Subsidiaries as of the respective dates thereof and for the
respective periods indicated.

          (b)     Schedule 4.6(b) sets forth (i) the unaudited consolidated
balance sheet of the Company and its Subsidiaries as of January 31, 2003 and the
related unaudited consolidated statement of operations, cash flows and changes
in members' equity for the period then ended (the "JANUARY 2003 UNAUDITED
FINANCIAL STATEMENTS") and (ii) the unaudited consolidated balance sheet of the
Company and its Subsidiaries as of February 28, 2003 and the related unaudited
consolidated statement of operations, cash flows and changes in members' equity
for the period then ended (the "FEBRUARY 2003 UNAUDITED FINANCIAL STATEMENTS,"
and, together with the January 2003 Unaudited Financial Statements, the "MONTHLY
UNAUDITED FINANCIAL STATEMENTS")). Except as set forth on Schedule 4.6(b), the
Monthly Unaudited Financial Statements present fairly, in all material respects,
in accordance with GAAP, the financial condition and results of operations of
the Company and its Subsidiaries as of and for the one and two month periods
then ended, respectively, except that the Monthly Unaudited Financial Statements
omit footnotes and are subject to normal year end adjustments that shall not be
material, individually or in the aggregate, to the Company and its Subsidiaries.
The Company and its Subsidiaries do not have any liabilities or obligations
(whether accrued, absolute, contingent, unasserted or otherwise) of a nature
required by GAAP to be reflected on a consolidated balance sheet of the Company
and its Subsidiaries (including any footnotes thereto) that are material to the
Company and its Subsidiaries taken as a whole, except (i) as disclosed,
reflected or reserved against specifically and identified as such, in the
December 31, 2002

                                       20
<Page>

Audited Financial Statements and the notes thereto or the February 2003
Unaudited Financial Statements, (ii) for liabilities and obligations incurred in
the ordinary course of business consistent with past practice since December 31,
2002 not in violation of this Agreement and (iii) for Taxes.

          (c)     No accrual for loss contracts or adverse sales commitments is
required to be recorded in accordance with GAAP by the Company in the December
31, 2002 Audited Financial Statements. For the avoidance of doubt, the Company
has historically evaluated loss contracts at the contribution margin level,
aggregated by customer.

          Section 4.7   SEC DOCUMENTS AND OTHER REPORTS. (a) The Company and its
Subsidiaries have filed to the date hereof all documents with the SEC required
under the Securities Act and Exchange Act since January 1, 2000 (collectively,
the "SEC DOCUMENTS"). As of their respective dates or, if amended, as of the
date of the last amendment, the SEC Documents complied in all material respects
with the requirements of the Exchange Act and the Securities Act, as the case
may be, and, at the respective times they were filed, none of the SEC Documents
contained any untrue statement of a material fact required to be stated therein
in light of the circumstances under which they were made.

          (b)     Prior to the time of filing of the Company's Annual Report on
Form 10-K for the year-ended December 31, 2002 (the "DECEMBER 31, 2002 10-K")
with the SEC, (i) the Company had established and maintained disclosure controls
and procedures designed to ensure that information required to be disclosed by
the Company in the December 31, 2002 10-K was recorded, processed, summarized
and reported, within the time periods specified in the SEC's rules, regulations
and forms and accumulated and communicated to the Company's management,
including the Company's Chief Executive Officer and Chief Financial Officer to
allow timely decisions regarding required disclosure and (ii) the Company's
Chief Executive Officer and Chief Financial Officer had (A) evaluated the
effectiveness of the foregoing controls and procedures as of a date 90 days
prior to the filing of the December 31, 2002 10-K, (B) presented in the December
31, 2002 10-K their respective conclusions about the effectiveness of such
disclosure controls and procedures and (C) disclosed to the Company's
independent auditors and the audit committee of the Company's board of managers
(x) all significant deficiencies in the design or operation of the Company's
internal controls which could adversely affect the Company's ability to record,
process, summarize and report financial data and identified for the Company's
independent auditor any material weaknesses in internal controls; and (y) any
fraud, whether or not material, that involves management or other employees who
have a significant role in the Company's internal controls.

          Section 4.8   LITIGATION. Except as set forth on Schedule 4.8 and for
matters covered by Section 4.10(a) and except for claims solely for monetary
relief in an amount not in excess of $250,000 per claim or series of related
claims, there is no suit, action, proceeding or investigation or any outstanding
injunctions, judgments, orders or decrees (whether at law or equity, before or
by any federal, state, provincial or foreign commission, court, tribunal, board,
agency or instrumentality, or before any arbitrator) pending or, to the
Knowledge of the Company, threatened by or against the Company or any of its
Subsidiaries. There are no pending suits, actions, proceedings or investigations
that have been commenced against the Company or any of its Subsidiaries that
challenge, or seek to prevent, delay, or make illegal, or

                                       21
<Page>

otherwise materially interfere with the Company's performance hereunder or
materially impair the business or operations of the Company or any of its
Subsidiaries following the Closing.

          Section 4.9   LEGAL COMPLIANCE AND GOVERNMENTAL AUTHORIZATIONS.

          (a)     Except (i) for any noncompliance specifically covered by or
disclosed pursuant to any other representation or warranty contained in this
Article IV, or (ii) as set forth on Schedule 4.9(a):

                        (x)   The Company and its Subsidiaries are, and at all
          times since January 1, 2000, have been, in compliance with each Law
          that is or was applicable to them or to the conduct or operation of
          their business or the ownership of any of their assets, the violation
          of which could reasonably be expected to have a Material Adverse
          Effect;

                        (y)   No event has occurred or circumstance exists that
          (with or without written notice or lapse of time) (1) would constitute
          or result in a violation by the Company or any of its Subsidiaries, or
          a failure on the part of the Company or any of its Subsidiaries to
          comply in all respects with, any Law, the noncompliance with which
          could reasonably be expected to have a Material Adverse Effect or (2)
          would give rise to any material obligation on the part of the Company
          and its Subsidiaries to undertake, or to bear all or any material
          portion of the cost of, any remedial action under any Law; and

                        (z)   Neither the Company nor any of its Subsidiaries
          has received any written notice or other written communication from
          any Governmental Entity or any other Person regarding (1) any actual,
          alleged, possible, or potential violation of, or failure to comply
          with, any Law by the Company or any of its Subsidiaries, the
          noncompliance with which could reasonably be expected to have a
          Material Adverse Effect or (2) any actual, alleged, possible, or
          potential obligation on the part of the Company and its Subsidiaries
          to undertake, or to bear all or any material portion of the cost of,
          any remedial action of any nature.

          (b)  Except (i) for those Governmental Authorizations specifically
covered by any other representation or warranty contained in this Article IV, or
(ii) as set forth on Schedule 4.9(b):

                        (w)   The Schedules contain a complete and correct list
          of each material Governmental Authorization that is held by the
          Company and its Subsidiaries;

                        (x)   The Company and its Subsidiaries are in material
          compliance with all of the material terms and requirements of each
          Governmental Authorization identified on the Schedules;

                        (y)   No event has occurred or circumstance exists that
          (1) constitutes a material violation of or a failure to comply in all
          material respects

                                       22
<Page>

          with any material term or requirement of any Governmental
          Authorization listed on the Schedules, or (2) could reasonably be
          expected to result in the revocation, withdrawal, suspension,
          cancellation, or termination of any Governmental Authorization listed
          in the Schedules that could reasonably be expected to have a Material
          Adverse Effect; and

                        (z)   Neither the Company nor any of its Subsidiaries
          have received any written notice or other written communication from
          any Governmental Entity or any other Person regarding (1) any actual,
          alleged, possible, or potential violation of, or failure to comply
          with, any Governmental Authorization, (2) any actual, alleged,
          possible, or potential revocation, withdrawal, suspension,
          cancellation, termination of, or modification to any Governmental
          Authorization or (3) any change in Law resulting in a requirement to
          undertake a material capital expenditure, the noncompliance with which
          could reasonably be expected to have a Material Adverse Effect.

          Section 4.10  ENVIRONMENTAL MATTERS.

          (a)     Except as set forth on Schedule 4.10(a),

                        (i)   COMPLIANCE. The Company and each of its
Subsidiaries is and has been in material compliance with all Environmental Laws
applicable to the Company or such Subsidiary and neither the Company nor any of
its Subsidiaries have received any written notice or written communication from
any Person or Governmental Entity that alleges that the Company or any of its
Subsidiaries is not in material compliance with Environmental Laws.

                        (ii)  ON SITE DISPOSAL. The Company and its Subsidiaries
have not received, generated, handled, stored, treated, transported, kept,
deposited or disposed of Hazardous Materials (of the type described in
subsection (b) of the definition thereof) at, on or under any of the businesses,
facilities, operations, properties or assets of the Company or any of its
Subsidiaries and have not permitted any Person to do so nor does the Company or
any of its Subsidiaries have reasonable cause to believe that any Person has
done so in each case, as could reasonably be expected to have a Material Adverse
Effect.

                        (iii) PUBLIC REGISTRIES. To the Knowledge of the
Company, no businesses, facilities, operations, properties or assets of the
Company or any of its Subsidiaries is included on or referred to in any
register, registry or list of land subject to contaminative use or any register,
registry or list of contaminated land (whether or not publicly available) kept
pursuant to any Environmental Law and, to the Knowledge of the Company, there
are no circumstances which are likely to lead to such registration.

          (b)     ENVIRONMENTAL LIENS. There are no Environmental Liens or, to
the Knowledge of the Company, threatened Environmental Liens with respect to any
of the Company's or any of its Subsidiaries' businesses, facilities, operations,
properties or assets.

          (c)     ENVIRONMENTAL PERMITS. Except as set forth on Schedule
4.10(c), the Company and its Subsidiaries have obtained and have been in full
compliance with all Environmental Permits necessary to operate, use or occupy
all of the Company's and its

                                       23
<Page>

Subsidiaries' businesses, facilities, operations, properties and assets, except
where the failure to be in compliance could not reasonably be expected to have a
Material Adverse Effect.

          (d)     ENVIRONMENTAL CLAIMS. No Environmental Claims have been
asserted in writing against the Company or any of its Subsidiaries or, to the
Knowledge of the Company, any predecessor in interest nor is there any pending
Environmental Claim against the Company or any of its Subsidiaries or, to the
Knowledge of the Company, any predecessor in interest and there are no existing
circumstances which are reasonably likely to lead to an Environmental Claim.
Except as set forth on Schedule 4.10(d), no Environmental Claims have been
asserted or alleged in writing against any facilities, including treatment,
storage or disposal facilities that may have received Hazardous Materials
generated by the Company, any of its Subsidiaries or, to the Knowledge of the
Company, any predecessor in interest.

          (e)     RELEASES OF HAZARDOUS MATERIALS. There has been no Release at
or from any of the facilities, assets, or properties owned or operated by the
Company, any of its Subsidiaries or, to the Knowledge of the Company, any
predecessor in interest or, at or from any storage, disposal or treatment
facility that received Hazardous Materials generated by the Company, any of its
Subsidiaries or, to the Knowledge of the Company, any predecessor in interest.

          (f)     AVAILABILITY OF ENVIRONMENTAL INFORMATION. The Company
represents that complete and correct copies of all material environmental and
health and safety reports, studies, investigations, analysis, assessments,
claims, correspondence, suits, actions, proceedings, or injunctions, judgments,
orders or decrees (whether at law or equity, before or by any federal, state or
foreign commission, court, tribunal, board, agency, or instrumentality or before
any arbitrator) regarding any environmental or health and safety liabilities or
risks of the Company or any of its Subsidiaries or any presence or Release of
any Hazardous Material at any of the properties, businesses, facilities,
operations or assets, which are in the possession or control of the Company, any
of its Subsidiaries or their agents have been made available or delivered to
Buyer during the course of Buyer's due diligence visit at the Company's and its
Subsidiaries' facilities or was otherwise furnished. All necessary steps
contained in any such report, survey, assessment and investigation to comply
with any material, reasonable and appropriate recommendation have been completed
or are disclosed in Schedule 4.10(f) and are incorporated in future compliance
activities to the extent required by Law or deemed by the Company to be
appropriate or commercially practical.

          (g)     The Buyer acknowledges and agrees that this Section 4.10
contains the sole and exclusive representations and warranties of the Company
and the Subsidiaries with respect to any environmental matters.

          Section 4.11  BROKERS AND FINDERS; COMPANY TRANSACTION EXPENSES. (a)
Except as set forth in Schedule 4.11, in connection with this Agreement or the
transactions contemplated hereby, no broker, finder, investment bank or
financial advisor has acted for the Company or any of its Subsidiaries and
neither the Company nor any of its Subsidiaries has incurred any obligation to
pay a brokerage, finder's or other comparable fee or commission to any Person.

                                       24
<Page>

          (b)     Except for the Company Transaction Expenses to be reflected in
Net Indebtedness and Adjusted Working Capital, neither the Company nor any
Subsidiaries will have any obligation for any fees or expenses incurred in
connection with the Transaction.

          Section 4.12  EMPLOYEE BENEFIT MATTERS. (a) All Benefit Plans are
listed in Schedule 4.12(a).

          (b)     Neither the Company nor any of its Subsidiaries, nor any
Affiliate of the Company is required to maintain by any Law or otherwise any
Benefit Plan that is not listed in Schedule 4.12(a).

          (c)     Except as set forth on Schedule 4.12(c), complete and correct
copies of all written Benefit Plans and summaries of all oral Benefit Plans and
complete and correct copies of all recent summaries distributed to any employees
of the Company and its Subsidiaries concerning any Benefit Plan, the three (3)
most recent annual reports on Form 5500 filed with the IRS with respect to each
Benefit Plan for which the filing of any such report is required by ERISA or the
Code and copies of the three most recent actuarial reports and all documents
required to be filed with any regulatory authority for the prior three years
have been made available to the Buyer during the course of Buyer's due diligence
visit at the Company's and its Subsidiaries' facilities or was otherwise
furnished.

          (d)     Except as set forth on Schedule 4.12(d), the Benefit Plans are
in compliance with the requirements of all applicable Laws, the noncompliance
with which could reasonably be expected to have a Material Adverse Effect and
each Benefit Plan has been operated, maintained, and administered in material
compliance with its terms.

          (e)     There are no pending, nor has the Company or any of its
Subsidiaries received written notice of any threatened, claims, investigations
by any governmental agency, suits or proceedings against or otherwise involving
any of the Benefit Plans (other than routine claims for benefits and domestic
relations orders).

          (f)     Except as set forth on Schedule 4.12(f) and except for
increases established solely under applicable Laws with respect to the
contribution limits under qualified retirement plans, there have been no
promised improvements or increases to the benefits provided under any Benefit
Plan.

          (g)     Except as set forth on Schedule 4.12(g), each Benefit Plan
which is required to be funded by its terms, any collective bargaining
agreements or any Laws is funded in accordance with such terms, any such
collective bargaining agreements and any such Laws, as applicable, and all
employer or employee payments, contributions and premiums required to be
remitted, paid to or in respect of each Benefit Plan have been paid or remitted
in a timely fashion in accordance with the Benefit Plan terms and all Laws.

          (h)     Vacation pay, sick leave and all supplemental retirement
benefits have been accrued and recorded in accordance with GAAP (i) for the 2002
calendar year, in the December 31, 2002 Audited Financial Statements and (ii)
for the 2003 calendar year through February 28, 2003, in the February 2003
Unaudited Financial Statements.

                                       25
<Page>

          (i)     All Foreign Pension Plans which provide pension benefits on a
defined benefit basis are fully funded in accordance with applicable Law,
including, to the extent required under applicable Law, on a going concern,
solvency and wind up basis using the actuarial methodology used in the most
recent actuarial report provided to the Buyer in respect of such Plan. All
contributions payable by any Subsidiary of the Company on or before the date
hereof with respect to Foreign Pension Plans which provide benefits on a defined
contribution basis have been paid on a timely basis and in accordance with
applicable Law.

          (j)     There have been no applications to withdraw surplus from any
Foreign Pension Plan and no payment of surplus pursuant to a surplus withdrawal
application.

          (k)     There have been no mergers, conversions or transfers of assets
involving any Foreign Pension Plan.

          (l)     There have been no partial wind-ups of, nor is there any basis
for an involuntary wind-up of, any Foreign Pension Plan that is not administered
by a Governmental Entity. To the Knowledge of the Company, there have been no
partial wind-ups of, and, to the Knowledge of the Company, there is no proposal
or plan for an involuntary wind-up, of any Foreign Pension Plan that is
administered by a Governmental Entity.

          (m)     All contribution holidays taken, and all expenses paid to date
hereof under any Foreign Pension Plan, have been taken or paid in material
compliance with Laws, the terms of the applicable Foreign Pension Plan and any
collective bargaining agreements and all amendments made have been made on the
same basis.

          (n)     Any U.S. Benefit Plan intended to be qualified under
Section 401(a) of the Code has received a favorable determination letter from
the IRS to be so qualified and no Benefit Plan has been amended since the
effective date of its most recent determination letter in any respect that would
result in its disqualification. Except as set forth on Schedule 4.12, to the
Knowledge of the Company, neither the Company nor any of its Subsidiaries nor
any of their ERISA Affiliates has any liability (contingent or otherwise) under
Title IV of ERISA (other than for the payment of premiums, none of which are
overdue) or has incurred or expects to incur any liability in connection with an
"ACCUMULATED FUNDING DEFICIENCY" within the meaning of Section 412 of the Code,
whether or not waived. No reportable event (as defined in Section 4043(c) of
ERISA) for which notice is not waived has occurred or is expected to occur with
respect to any Pension Plan. Except as set forth on Schedule 4.12, neither the
Company nor any of its Subsidiaries nor any of their ERISA Affiliates has
incurred any withdrawal liability with respect to a "MULTIEMPLOYER PLAN" under
Title IV of ERISA or applicable pension Laws and no event or condition has
occurred which would reasonably be expected to cause the Company, any Subsidiary
of the Company, or any ERISA Affiliate to incur such withdrawal liability.
Except as set forth on Schedule 4.12, the execution of, and performance of the
transactions contemplated by, this Agreement will not (either alone or upon the
occurrence of any additional or subsequent events) constitute an event under any
plan, policy, arrangement or agreement or any trust or loan that will result in
any payment (whether of severance pay or otherwise), acceleration, forgiveness
or indebtedness, vesting, distribution, increase in benefits or obligation to
fund benefits with respect to any current or former employees of the Company or
any of its Subsidiaries. Neither the Company, any Subsidiary of the Company nor
any of their ERISA Affiliates has incurred any

                                       26
<Page>

material liability or penalty under Section 4975 of the Code or Section 502(i)
of ERISA with respect to any U.S. Benefit Plan, or have engaged in a "prohibited
transaction" (as defined in Section 4975 of the Code or Section 406 of ERISA)
which could result in a material liability to the Company or any Subsidiary of
the Company.

          (o)     Except as required under Section 4980B of the Code or as set
forth on Schedule 4.12(o), neither the Company nor any of its Subsidiaries has
any obligation to provide post-retirement health or life benefits.

          (p)     Any terminated Benefit Plan has been terminated in accordance
with applicable Laws and all benefits under any such terminated Benefit Plan
have been made in accordance with the terms of such Benefit Plan.

          (q)     None of the Company's purposes and, to the Knowledge of the
Company, none of the Sellers' purposes for engaging in the transactions
contemplated by this Agreement is for the evasion of liability under Section
4069 of ERISA.

          (r)     Except as set forth on Schedule 4.l2, there are no provisions
or circumstances which may presently or in the future give rise to an obligation
of any Subsidiary of the Company organized under the Laws of Germany to make
payments in relation with company pension (Betriebsrenten), pensions, optional
early retirement (Vorruhestand), part time at advanced age (Altersteilzeit),
professional inability (Berufsunfahigkeit), sickness or other company
procurement. There is neither a customary and regular practice nor an obligation
towards an intermediate procurement institution (mittelbarer Versorgungstrager)
with regard to the foregoing.

          (s)     The Buyer acknowledges and agrees that this Section 4.12
contains the sole and exclusive representations and warranties of the Company
and the Subsidiaries with respect to any employee benefit matters (other than
labor matters specifically identified as such in Section 4.16).

          Section 4.13  TAXES. Except as set forth on the corresponding
subsections of Schedule 4.13:

          (a)     The Company, each of its Subsidiaries and each affiliated
group (within the meaning of Section 1504 of the Code) or consolidated, combined
or unitary group (under state or local Tax law) of which the Company or any
Subsidiary is or has been a member (each, an "AFFILIATED GROUP") have filed or
caused to be filed in a timely manner (within any applicable extension periods)
all Tax Returns required to be filed on or prior to the Closing Date, and each
such Tax Return was complete and correct when filed;

          (b)     All Taxes due on or prior to the Closing Date in respect of
any Pre-Closing Period and any Interim Period of the Company, each Subsidiary
and each Affiliated Group have been timely paid in full;

          (c)     To the Knowledge of the Company, no Lien, other than Permitted
Liens, relating to any Tax has been filed, no material claims have been or are
being asserted with respect to any Tax of the Company, or any of its
Subsidiaries or any Affiliated Group and no

                                       27
<Page>

investigation, examination, audit or inquiry with respect to any such Tax is
being conducted by any Taxing Authority that could reasonably be expected to
result in any material Tax liability and to the Knowledge of the Company, no
Taxing Authority has threatened the Company or any of its Subsidiaries or any
Affiliated Group, in any manner, with any such investigation, examination, audit
or inquiry;

          (d)     Neither the Company nor any of its Subsidiaries have any
liability for unpaid Taxes as successor, transferee, or by contract or agreement
or otherwise;

          (e)     The Company and its Subsidiaries have complied with all
applicable Laws relating to Taxes and the payment and withholding of Taxes;

          (f)     Neither the Company nor any of its Subsidiaries have been
included in any affiliated, combined, consolidated or unitary group for any Tax
purpose that includes any entity other than the Company or one or more of its
Subsidiaries;

          (g)     There are no outstanding waivers, agreements, arrangements or
comparable consents providing for the extension of time with respect to the
payment or filing of, or regarding the application of the statute of limitations
with respect to, any Taxes based on or measured by net income or Tax Returns of
the Company, any of its Subsidiaries or any Affiliated Group and neither the
Company nor any of its Subsidiaries nor any Affiliated Group have requested any
extension of time to file any such Tax Return that has not yet been filed;

          (h)     Neither the Company nor any of its Subsidiaries is a party to
any agreement providing for the payment, allocation or sharing of Taxes;

          (i)     Neither the Company nor any of its Subsidiaries is required to
include in income any adjustment pursuant to Section 481(a) of the Code by
reason of a voluntary change in accounting method initiated by the Company;

          (j)     No federal income Tax audit, and no other audit or proceeding
relating to any Tax that resulted in a material Tax liability, has ended within
three years of the date of this Agreement;

          (k)     No consent or election under Section 341 of the Code has been
made for any Subsidiary;

          (l)     The Company is, and has since its inception been, treated as a
partnership for Federal income tax purposes and each Subsidiary that is
organized as a limited liability company is, and has since its inception been,
either treated as a partnership or disregarded as an entity separate from its
owner for Federal income tax purposes;

          (m)     There are no circumstances existing other than in the ordinary
course of business which could reasonably be expected to result in the
application of section 78 of the Income Tax Act (Canada) or any equivalent
provincial provision applicable to the Company or its Subsidiaries. None of
sections 80 through to and including section 80.04 of the Income Tax Act
(Canada), or any equivalent provincial provision, have applied to the Company or
its Subsidiaries;

                                       28
<Page>

          (n)     Solely for purposes of determining potential Canadian Tax
issues, neither the Company nor its Subsidiaries has acquired an asset from a
Person with which it deals at non-arm's length for consideration greater than
the fair market value of such asset at the time of its acquisition;

          (o)     Neither the Company nor its Subsidiaries has entered into an
agreement contemplated by section 191.3 of the Income Tax Act (Canada) or any
equivalent provincial provision;

          (p)     In the 60 month period preceding the Closing Date, not more
than 50% of the fair market value of the Company is or has been derived from
shares it holds in Subsidiaries resident in Canada for purposes of the Income
Tax Act (Canada) and not more than 50% of the fair market value of such
Subsidiaries resident in Canada is derived, directly or indirectly, from real
property situated in Canada;

          (q)     None of the Dutch Subsidiaries of the Company has tainted
(share) capital (in Dutch: BESMET FUSIE AANDELENKAPITAAL/AGIO) by reason of
Article 3a of the Dutch Dividend Tax Act 1965;

          (r)     None of the Company and the Subsidiaries is a real estate
investment company within the meaning of Article 4 of the Dutch Legal Transfer
Act 1970;

          (s)     None of the Dutch Subsidiaries of the Company has claimed any
reduction of Tax or deduction by virtue of Article 13ca of the Dutch Corporate
Income Tax Act 1969;

          (t)     No Taxing Authority has operated or agreed to operate any
special arrangement (being an arrangement which is not based on relevant
legislation, published practice or convention) in relation to the affairs of the
Company or any of the Subsidiaries;

          (u)     Neither the Company nor any Subsidiary has taken any action in
respect of which any consent or clearance from any Taxing Authority was required
except where such consent or clearance was validly obtained and where any
conditions relating thereto were and will up to Closing, continue to be met and
where nothing to be done pursuant to this Agreement will constitute a breach
thereof;

          (v)     Neither the Company nor any Subsidiary has entered into or
been a party to or otherwise been involved in any scheme or arrangement designed
wholly or mainly for the purposes of avoiding or deferring Taxation in violation
of applicable Law;

          (w)     Neither the Company nor any Subsidiary is an agent of another
company for the purposes of assessing the latter to Tax in the country of
residence of the first company;

          (x)     All documents, the enforcement of which the Company or any of
its Subsidiaries is interested, have been duly stamped and all such duty,
interest and penalties have been duly paid; and

                                       29
<Page>

          (y)     Neither the Company nor any Subsidiary is or may be liable to
repay any Tax, credit, subvention, subsidy or similar amount received from any
Taxing Authority or other authority, body or person whatsoever.

The Buyer acknowledges and agrees that this Section 4.13 contains the sole and
exclusive representations and warranties of the Company and the Subsidiaries
with respect to any Tax matters (other than Tax matters relating to employee
benefit matters specifically identified as such in Section 4.12 or Section
4.16).

          Section 4.14  INTELLECTUAL PROPERTY. (a) Schedule 4.14 sets forth a
correct and complete list of all (i) Registered or otherwise material (including
non-Registered) Company Intellectual Property owned by the Company and its
Subsidiaries, and (ii) agreements concerning Company Intellectual Property,
including, for the avoidance of doubt, the Valyi Agreement, but excluding
standard confidentiality agreements associated with the disclosure of Company
Intellectual Property as part of normal business negotiations, standard
"shrink-wrap" or "click-wrap" agreements for the licensing of generally
available, off-the-shelf software applications, and any other agreement for the
licensing of software where the value of the software and related services
licensed under each such agreement is less than $50,000; PROVIDED, HOWEVER, that
such agreements shall be deemed part of the "Intellectual Property Contracts" to
the extent that the Company or any of its Subsidiaries is in breach thereof and
such breaches, to the extent proven by the other party, individually or in the
aggregate, could reasonably be expected to result in liability for the Company
and its Subsidiaries in excess of $50,000 (collectively, "INTELLECTUAL PROPERTY
CONTRACTS"). Except as set forth on Schedule 4.14, the Company or one of its
Subsidiaries own or possess rights to all Company Intellectual Property
sufficient for the operation of their respective Businesses; all such ownership
and other rights are free of all Liens, other than Permitted Liens. Except as
set forth on Schedule 4.14, none of the Company Intellectual Property,
Intellectual Property Contracts or any rights therein, which are purported to be
owned by or registered in the name of the Company or any of its Subsidiaries, is
owned by or registered in the name of any Person other than the Company or its
Subsidiaries. Neither the Company nor any of its Subsidiaries has received any
written notice or, to the Knowledge of the Company, oral notice that any of its
products or processes violate, infringe upon or misappropriate the Intellectual
Property rights of third parties, and no suit concerning such a claim is
pending, except as set forth on Schedule 4.14. To the Knowledge of the Company,
no products or processes of the Company or any of its Subsidiaries violate,
infringe upon or misappropriate the Intellectual Property rights of third
parties. Except as set forth on Schedule 4.14, to the Knowledge of the Company,
no Person is violating any Company Intellectual Property rights owned by the
Company or any of its Subsidiaries where such violations, individually or in the
aggregate, could reasonably be expected to result in damages in excess of
$50,000, except as set forth on Schedule 4.14. Except as set forth on Schedule
4.14, neither the Company nor any of its Subsidiaries or, to the Knowledge of
the Company, any other Person, is in breach of any Intellectual Property
Contract where such breaches, individually or in the aggregate, could reasonably
be expected to result in damages in excess of $50,000, and neither the Company
nor any of its Subsidiaries or, to the Knowledge of the Company, any other
Person, is in breach of the Valyi Agreement. There exists no event, condition or
occurrence which, with or without the giving of notice or lapse of time, or
both, would constitute a material breach or default by the Company or any of its
Subsidiaries under any Intellectual Property Contract, and neither the Company
nor any Subsidiary has received notice of any such event, condition or

                                       30
<Page>

occurrence. To the Knowledge of the Company, each Person who is a party to any
Intellectual Property Contract had and has all rights, power and authority
necessary to enter into, be bound by and fully perform such Intellectual
Property Contract. The Company and its Subsidiaries have timely made all royalty
payments and other payments required to be made under each Intellectual Property
Contract and, except as set forth on Schedule 4.14, no such payments will be due
and owing as of the Closing Date except in the ordinary course of business as
set forth in any of the Intellectual Property Contracts and to the extent such
obligations are specifically reflected in the December 31, 2002 Audited
Financial Statements, the February 2003 Unaudited Financial Statements or the
financial books and records of the Company or the relevant Subsidiary. No party
has given the Company or any Subsidiary notice of any breach of any Intellectual
Property Contract or of its intention to cancel, terminate or fail to renew the
Valyi Agreement or any Intellectual Property Contract that requires payments by,
or that generates revenues for, the Company or any of its Subsidiaries in excess
of $50,000 annually. To the Knowledge of the Company, all Company Intellectual
Property owned by the Company and its Subsidiaries is valid, subsisting and
enforceable. No Registered Company Intellectual Property has been abandoned,
canceled or adjudicated invalid (excepting any Company Intellectual Property
that has intentionally and voluntarily been permitted to expire or become
abandoned pursuant to business decisions made in the ordinary course), or is
subject to any outstanding order, judgment or decree restricting the ability of
the Company or any of its Subsidiaries to use the Company Intellectual Property,
or is the subject of any suit, action, reissue, reexamination, public protest,
interference, arbitration, mediation, opposition, cancellation or other
proceeding except as identified on Schedule 4.14. Except as set forth on
Schedule 4.14 or Schedule 4.8, no suit is pending, nor has any claim been
threatened or asserted in writing, concerning the Company Intellectual Property
owned by the Company or any of its Subsidiaries, including any suit concerning a
claim or position that the Company Intellectual Property owned by the Company or
any of its Subsidiaries has been violated or is invalid, unenforceable,
unpatentable, unregisterable, cancelable, not owned or not owned exclusively by
the Company or any of its Subsidiaries, and no such claim has been threatened
or, to the Knowledge of the Company, asserted orally. Except as set forth on
Schedule 4.14 or Schedule 4.8, to the Knowledge of the Company, no suit is
pending, nor has any claim been threatened or asserted (in writing or otherwise)
concerning any Company Intellectual Property owned by third parties, which
Company Intellectual Property is reflected in an Intellectual Property Contract
or is otherwise material, to the extent such suit or claim could reasonably be
expected to adversely affect the rights of the Company or any of its
Subsidiaries in such Company Intellectual Property, including any suit
concerning a claim or position that such Company Intellectual Property has been
violated or is invalid, unenforceable, unpatentable, unregisterable, cancelable,
not owned or not owned exclusively by the party that has purported to granted
rights to Company or any of its Subsidiaries in connection with such Company
Intellectual Property.

          (b)     The Company and its Subsidiaries have timely made all filings
and payments with the appropriate foreign and domestic agencies required to
maintain in subsistence all Registered Company Intellectual Property that is
owned by such Persons (excepting any Company Intellectual Property that has been
intentionally and voluntarily permitted to expire or become abandoned pursuant
to business decisions made in the ordinary course). Except as set forth on
Schedule 4.14, and except for filings and payments referred to in any
communication from a governmental agency that is not yet received by the Company
or any of its Subsidiaries, as applicable, as of Closing (where the Company or
the applicable Subsidiary is not aware of the

                                       31
<Page>

need to make such filings and payments, using reasonably diligent efforts,
absent such communication), there are no due dates for filings or payments
concerning the Registered Company Intellectual Property owned by the Company or
any of its Subsidiaries (including without limitation office action responses,
affidavits of use, affidavits of continuing use, renewals, requests for
extension of time, maintenance fees, application fees and foreign convention
priority filings) falling due within 90 days of the Closing Date, except where
such due dates are extendable beyond such 90 day period without material adverse
consequence to the Company or any of its Subsidiaries. To the Knowledge of the
Company, all documentation necessary to confirm and effect the Company's and the
Subsidiaries' ownership of such owned Company Intellectual Property, if acquired
from other Persons, has been or will be recorded prior to Closing in the United
States Patent and Trademark Office, the United States Copyright Office and other
official offices.

          (c)     The IT systems used in connection with the business of the
Company and its Subsidiaries are capable of allowing them to conduct the
business as it is currently conducted without any problems relating to the Euro
currency.

          (d)     The Company and its Subsidiaries comply in all material
respects with all applicable requirements relating to their websites, including
without limitation privacy and distance selling regulations.

          Section 4.15  CONTRACTS. (a) Schedule 4.15(a) lists all Contracts to
which the Company or any of its Subsidiaries is a party or by which the assets
or properties of the Company or any of its Subsidiaries are bound that imposed
in the 2001 calendar year aggregate obligations on, or generated aggregate
revenues for, the Company and its Subsidiaries of more than $500,000, or during
2002 or 2003 are expected to create such obligations or generate revenues of
more than $500,000 or that impose any material restrictions on the operations or
the business of the Company or any of its Subsidiaries. Other than such
Contracts as are listed in Schedule 4.15(a) or any other Schedule hereto,
neither the Company nor any of its Subsidiaries is a party to any material
Contract that contains any material obligations of or restrictions applicable to
the Company or any of its Subsidiaries, other than the payment of monies, and
the delivery of goods and services with a value in excess of $500,000. For the
avoidance of doubt, purchase orders are not required to be listed on Schedule
4.15 if they are in the standard forms made available for review by the Company
to the Buyer during the course of Buyer's due diligence visit at the Company's
and its Subsidiaries' facilities or were otherwise furnished.

          (b)     Complete and correct copies of all Contracts listed on
Schedule 4.15(a) have been made available to the Buyer during the course of
Buyer's due diligence visit at the Company's and its Subsidiaries' facilities or
were otherwise furnished. Except as set forth on Schedule 4.15(b), (i) each such
Contract is a valid and binding obligation of the Company or a Subsidiary of the
Company, enforceable in accordance with its terms except as its enforceability
may be limited by bankruptcy, insolvency, moratorium or other laws relating to
or affecting creditors' rights generally, and the exercise of judicial
discretion in accordance with general equitable principles, and are in full
force and effect, and (ii) neither the Company nor any of its Subsidiaries nor,
to the Knowledge of the Company, any other party to any of such Contracts is
(with or without the lapse of time or the giving of written notice, or both, but
without giving effect to the transactions contemplated by this Agreement) in
material violation thereof or in

                                       32
<Page>

material default thereunder and no event has occurred that could reasonably be
expected to give rise to such violation or breach.

          Section 4.16  LABOR MATTERS. (a) Except as set forth on Schedule
4.16(a), neither the Company nor any of its Subsidiaries is a party to, or bound
by, any collective bargaining agreement, contract or other agreement or
understanding with any works counsel or other representative body of employees,
labor union or labor organization and no labor organization or group of
employees of either the Company or any of its Subsidiaries has made a pending
demand for recognition or certification to the Company or any of its
Subsidiaries and there are no representation or certification proceedings or
petitions seeking a representation proceeding presently pending or, to the
Knowledge of the Company, threatened to be brought or filed with the National
Labor Relations Board, the National Mediation Board or any other applicable or
relevant labor relations tribunal or authority. Except as set forth on Schedule
4.16(a), there are no material unfair labor practices, arbitrations, grievances,
complaints or employment discrimination charges or labor arbitration proceedings
pending or, to the Knowledge of the Company, threatened against the Company or
any of its Subsidiaries. There has been no labor strike, work stoppage, lockout
or other concerted labor action pending or affecting either the Company or any
of its Subsidiaries during the last 24 months. Except as set forth on Schedule
4.16(a), there are no complaints, charges, or claims against the Company or any
of its Subsidiaries pending, or to the Knowledge of the Company, threatened in
writing to be brought or filed, with any authority or arbitrator based on,
arising out of, in connection with, or otherwise relating to the employment or
termination of employment of any individual by the Company or any of its
Subsidiaries. Except as set forth on Schedule 4.16(a), the Company and its
Subsidiaries have been in material compliance with, and no claim is pending
against the Company or any of its Subsidiaries alleging violation of, any Laws
relating to wages, hours, employment standards, collective bargaining, labor
relations, discrimination, civil rights, human rights, safety and health,
workers' compensation and the collection and payment of withholding and/or
Social Security taxes and similar taxes. No claim has been asserted in writing
against the Company or any of its Subsidiaries alleging a violation of the WARN
Act or similar U.S. state or local law. No event will occur prior to the Closing
Date that will constitute a "mass layoff" or "plant closing" or result in any
liability against the Company or any of its Subsidiaries under the WARN Act or
similar U.S. state or local law. The Company has made available to the Buyer
during the course of Buyer's due diligence visit at the Company's and its
Subsidiaries' facilities or have otherwise furnished, correct and complete
copies of all written, and descriptions of, all binding oral employment,
termination and severance agreements, consulting agreements, contracts,
arrangements and understandings, including, but not limited to, compensation and
loan arrangements to employees of the Company or any of its Subsidiaries, all of
which agreements are listed on Schedule 4.16(a) and no such agreements limit the
ability of the Company or any of its Subsidiaries to discharge any employee with
the giving of reasonable notice in accordance with applicable Law.

          (b)     Except as set forth on Schedule 4.16(b), since June 1, 2002,
no officer or management level employee of the Company or any of its
Subsidiaries has given or received written notice to terminate his or her
employment.

          (c)     There are no training schemes, arrangements or proposals,
whether past or present, in respect of which a levy may henceforth become
payable by the Company or any of its

                                       33
<Page>

Subsidiaries and pending Closing no such schemes, arrangements or proposals will
be established or undertaken.

          (d)     Except for the transactions contemplated by this Agreement,
none of the Company nor any of its Subsidiaries have entered into any agreement
and no event has occurred which may involve the Company or any of its
Subsidiaries in the future acquiring any undertaking or part of one such that
the Transfer Regulations may apply thereto.

          (e)     The Sellers and the Company and its Subsidiaries have complied
with all obligations that have matured prior to the date of this Agreement to
inform and consult with trade unions and other representatives of workers
(including but not limited to work councils) and to send notices to relevant
state officials.

          (f)     The Company and its Subsidiaries have maintained adequate and
suitable records regarding the service of its directors, officers and employees
and such records comply with requirements of data protection legislation
regarding the processing and storage of personal data on individuals.

          (g)     Other than the amounts set forth in Section 2.6(b) to be paid
at Closing by each of Richard E. Borghi, Robert L. Fisher and Roger T. Morgan,
no employee of the Company or any of its Subsidiaries owes any amount to the
Company or any of its Subsidiaries, other than for ordinary course of business
expenses not exceeding $45,000 in the aggregate for all such employees.

          (h)     The Buyer acknowledges and agrees that this Section 4.16
contains the sole and exclusive representations and warranties of the Company
and the Subsidiaries with respect to any labor matters (other than employee
benefit matters addressed in Section 4.12).

          Section 4.17  REAL PROPERTY. (a) Schedule 4.17(a) lists all real
property owned by the Company and its Subsidiaries (the "OWNED REAL PROPERTY").
Except as set forth on Schedule 4.17(a), the Company and its Subsidiaries are
the absolute beneficial owners of the Owned Real Property and have good, valid
and indefeasible title in fee simple to the Owned Real Property, free and clear
of all Liens, except Permitted Liens and except for matters disclosed in any
title insurance policy of the Company or any of its Subsidiaries (true, correct
and complete copies of which have been made available for review by the Company
to Buyer during the course of Buyer's due diligence visit at the Company's and
its Subsidiaries' facilities or was otherwise furnished). The Company has
previously made available to the Buyer, during the course of Buyer's due
diligence visit at the Company's and its Subsidiaries' facilities or has
otherwise furnished, true and correct copies of all title insurance policies,
reports and commitments relating to the Owned Real Property, together with all
surveys, plans, and specifications relating thereto, in the possession of the
Company and its Subsidiaries.

          (b)     Except as set forth on Schedule 4.17(b): (i) neither the
Company nor any of its Subsidiaries has sold, transferred, conveyed, mortgaged,
deeded in trust, leased or subleased or encumbered any interest in any Owned
Real Property since January 1, 2000, and there are no purchase options or rights
of first refusal to purchase all or any portion of any Owned Real Property or
interests therein; (ii) the Company and its Subsidiaries have obtained all
Governmental Authorizations in connection with the operation of any Owned Real
Property, that if they were not obtained, could reasonably be expected to have a
Material Adverse Effect, except as set forth on Schedule 4.9 or Schedule 4.10;
(iii) there are no management or other

                                       34
<Page>

agreements respecting any Owned Real Property; (iv) the Company and its
Subsidiaries have not received any written notice, demand or request from any
insurance company, board of fire underwriters (or organizations exercising
functions similar thereto) or any Governmental Entity requiring the performance
of any work or alteration in respect to any Owned Real Property that has not
been performed and satisfactorily completed prior to the date hereof; (v) there
are no pending or, to the Knowledge of the Company, contemplated eminent domain,
compulsory acquisition, expropriation or condemnation proceedings, or other
governmental or quasi-governmental takings of any of the Owned Real Property;
(vi) there are no actions, suits or proceedings pending or, to the Knowledge of
the Company, threatened to be made against or asserted against the Company or
any of its Subsidiaries affecting any Owned Real Property, except as set forth
on Schedule 4.8 or Schedule 4.10; (vii) there are no public improvements which
have been ordered to be made, and there are no specific, general or other
assessments pending, or, to the Knowledge of the Company, threatened against any
Owned Real Property; and (viii) to the Knowledge of the Company, the present use
by the Company and its Subsidiaries of all Owned Real Property complies with all
zoning, building, land use and other Laws applicable to or affecting in any way
such Owned Real Property.

          (c)     Schedule 4.17(a) and Schedule 4.17(c) list all real property
leased by the Company and its Subsidiaries (the "LEASED REAL PROPERTY"). Except
as set forth on Schedule 4.17(c), each Leased Real Property is possessed and
quietly occupied by the Company and/or any of its Subsidiaries pursuant to a
written lease or sublease (each a "REAL PROPERTY LEASE"). Schedule 4.17(a) and
Schedule 4.17(c) contain a complete list of each Real Property Lease, including
any material amendments, modifications or supplements thereto, to which the
Company or a Subsidiary of the Company is a party. Except as set forth on the
corresponding subsection of Schedule 4.17(c): (i) the Company or a Subsidiary of
the Company has good and valid title to the leasehold estate conveyed under each
Real Property Lease, free and clear of all Liens, except Permitted Liens and
except for matters disclosed in any title insurance policy of the Company or any
of its Subsidiaries (correct and complete copies of which have been made
available for review by the Company to Buyer, during the course of Buyer's due
diligence visit at the Company's and its Subsidiaries' facilities or was
otherwise furnished); (ii) each Real Property Lease is in full force and effect
and is legal, valid, binding, and enforceable in accordance with its terms
against the Company or a Subsidiary of the Company and, to the Knowledge of the
Company, against the other party or parties thereto; (iii) neither the Company
nor any of its Subsidiaries is in default under any Real Property Lease which
could reasonably be expected to have a Material Adverse Effect, and no event has
occurred which, with or without written notice, lapse of time or both, would
constitute a default which could reasonably be expected to have a Material
Adverse Effect or permit the termination or cancellation thereof or the
acceleration of the term thereof; (iv) the consummation of the transactions
contemplated by this Agreement will not constitute a default or give rise to a
right of termination, cancellation, modification or acceleration of any right
under any Real Property Lease; (v) the Company and its Subsidiaries have
obtained all material consents, approvals and Governmental Authorizations and
all material consents and approvals of all other Persons required to be obtained
by the Company or the relevant Subsidiary in connection with the operation of
each Leased Real Property, and no further such material consents, approvals, or
Governmental Authorizations will be required for or as a result of the
consummation of the transactions contemplated by this Agreement; (vi) neither
the Company nor any of its Subsidiaries nor any of the Sellers has received any
written notice, demand or request from any insurance company, board of fire
underwriters (or organizations

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exercising functions similar thereto) or any Governmental Entity or any other
Person requesting the performance of any work or alteration in respect to any
Leased Real Property that has not been performed and satisfactorily completed
prior to the date hereof; (vii) except as set forth in any mortgagee title
insurance policies issued at the Closing to any Person providing financing to
Buyer in connection with the Transaction, to the Knowledge of the Company, the
present use by the Company or any of its Subsidiaries of each Leased Real
Property complies with all zoning, building, land use and other Laws applicable
to or affecting in any way such Leased Real Property and (viii) neither the
Company nor any of its Subsidiaries is liable for the payment and performance of
the obligations of any Person to whom the Company or any Subsidiary assigned the
interest of the Company or such Subsidiary, as tenant or subtenant, under any
lease or sublease of real property.

          (d)     The Company and/or a Subsidiary has under its control all
title deeds and documents necessary to prove their title to, or leasehold
interest in, all Owned Real Property and the Leased Real Property outside of the
United States and the same are original documents or properly examined
abstracts. The title documents for all Leased Real Property outside of the
United States include all necessary consents for the grant and assignment of the
Real Property Lease, satisfactory details of all reversioners' titles, memoranda
of rent increases, where appropriate, and all reversioners' consents required
under such Real Property Lease. Where any of the Owned Real Property or Leased
Real Property outside of the United States is subject to leases, underleases,
agreements or licenses, the title documents include all necessary consents in
connection therewith and evidence of registration of the grant of the same where
appropriate.

          Section 4.18  PERSONAL PROPERTY.

          (a)     Schedule 4.18(a) sets forth, in all material respects, all
interests owned or claimed by the Company and its Subsidiaries (including,
without limitation, options, but excluding interests owned by SportRack
Accessories, Inc. and its Subsidiaries prior to July 2, 1997) in or to the
plant, machinery, equipment, furniture, leasehold improvements, fixtures,
vehicles, structures, any related capitalized items or assets and other tangible
property which are treated by the Company or a Subsidiary of the Company as
depreciable or amortizable property (collectively, the "TANGIBLE PROPERTY").

          (b)     Except as set forth on Schedule 4.18(b), the Company or a
Subsidiary of the Company has (i) good title to, or a valid lease, license or
right to use the Tangible Property, free and clear of all Liens, except for
Permitted Liens and (ii) good and valid leasehold interests in all Tangible
Property leased by the Company and its Subsidiaries.

          (c)     All contracts and other agreements or instruments pursuant to
which the Company and its Subsidiaries may hold or use any interest owned or
claimed by the Company and its Subsidiaries (including, without limitation,
options) in or to the material Tangible Property are in full force and effect
and, with respect to the performance of the Company and its Subsidiaries, there
is no material default or event of default (or event which, with written notice
or lapse of time or both, would constitute a default).

          (d)     The Tangible Property of the Company and its Subsidiaries is
in good operating condition and repair and usable in the ordinary course of the
business (except for

                                       36
<Page>

ordinary wear and tear), has been maintained in a reasonably prudent manner in
the ordinary course of the business and is sufficient for the continued conduct
of the Business of the Company and its Subsidiaries after the Closing Date in
substantially the same manner as conducted during the 2001, 2002 and the portion
of the 2003 calendar years prior to the Closing Date.

          (e)     During the 2001, 2002 and the portion of the 2003 calendar
years prior to the Closing Date, no facility of the Company and its Subsidiaries
has had its operations suspended on an unscheduled basis for more than five (5)
consecutive Business Days.

          (f)     During the past two (2) years there has not been any material
interruption of the operations of the Company and its Subsidiaries due to
inadequate maintenance of the Tangible Property.

          Section 4.19  ABSENCE OF CERTAIN CHANGES OR EVENTS. Except as set
forth on Schedule 4.19, since December 31, 2002 (a) the Business has been
conducted only in the ordinary course consistent with past practice, (b) there
have been no facts, changes, conditions, circumstances or occurrences or
nonoccurrences of any events that, have had, or are reasonably likely to have,
individually or in combination with other such facts, changes, conditions,
circumstances or occurrences or nonoccurrences, a Material Adverse Effect and
(c) no action that would have been prohibited by Sections 6.1(a), (d), (e), (f),
(g), (j), (k), (l), (n) and (s) has been taken or proposed.

          Section 4.20  BOOKS OF ACCOUNT. The books of account of the Company
and its Subsidiaries, all of which have been made available to the Buyer, during
the course of Buyer's due diligence visit at the Company's and its Subsidiaries'
facilities or was otherwise furnished, are complete and correct in all material
respects. The minute books of the Company and its Subsidiaries contain complete
and correct records of all meetings held of, and corporate action taken by, the
members, the Board of Managers, stockholders, the Board of Directors, and
committees of the Board of Managers or the Board of Directors of the Company and
its Subsidiaries, and no meeting of any such members, the Board of Managers,
stockholders, the Board of Directors or committees of the Board of Managers or
the Board of Directors has been held for which minutes have not been prepared
and are not contained in such minute books. At the Closing Date, all of those
books and records will be in the possession of the Company or one of its
Subsidiaries. The ledgers of equity interests or share certificate books,
registers of shareholders or registers of members, registers of transfers and
registers of directors of the Company and its Subsidiaries are complete and
correct in all material respects.

          Section 4.21  TRANSACTIONS WITH RELATED PERSONS. Except as set forth
on the corresponding subsection of Schedule 4.21:

          (a)     No agreement or transaction between the Company or any of its
Subsidiaries and (i) any director, officer, holder of equity interests in the
Company or affiliate of the Company or any of its Subsidiaries, or (ii) any
relative or spouse of any such director, officer, equity holder or Affiliate
(such persons in (i) and (ii) being referred to herein as a "RELATED PARTY" or
collectively as the "RELATED PARTIES") exists or has been entered into in the
last twelve (12) months;

                                       37
<Page>

          (b)     To the Knowledge of the Company, no Related Party is a
director or officer of, or has any direct or indirect interest in (other than
the ownership of not more than 5% of the publicly traded shares of), any Person
which is a supplier, vendor, landlord, sales agent or competitor of the Company
or any of its Subsidiaries;

          (c)     To the Knowledge of the Company, no Related Party owns or has
any interest in, directly or indirectly, in whole or in part, any tangible or
intangible property used in the conduct of the business of the Company or any of
its Subsidiaries;

          (d)     Except as set forth in this Agreement and any of the Principal
Documents and assuming the Transaction occurs at Closing as set forth herein,
after the Closing, no Related Party will have any obligation (monetary or
otherwise) to the Company or any of its Subsidiaries, nor will the Company or
any of its Subsidiaries have any obligation (monetary or otherwise) to any
Related Party for any activity, agreement or transaction occurring on or prior
to the Closing, other than for intercompany transactions among the Company and
its Subsidiaries;

          (e)     Neither the Company nor any of its Subsidiaries has directly
or indirectly, guaranteed or assumed any indebtedness for borrowed money or
otherwise for the benefit of any Related Party since January 1, 2002;

          (f)     Except for any amounts being repaid pursuant to Section 2.6(b)
on the Closing Date and intercompany transactions among the Company and its
Subsidiaries, neither the Company nor any of its Subsidiaries has made any
loans, payments or transfers of the Company's assets to any Related Party during
the last twelve (12) months, excluding ordinary course employee compensation
reimbursements of customary travel, moving and other similar expenses.

          (g)     As of the Closing Date, except as contemplated by the
Principal Documents, after giving effect to the Transaction, the Company and its
Subsidiaries will not be required to make any payment to or perform any services
for the Sellers or any Related Party for any activity, agreement or transaction
occurring on or prior to the Closing except as set forth on Schedule 4.21.

          Section 4.22  ACCOUNTS AND NOTES RECEIVABLE. All accounts and notes
receivable from third parties reflected on the December 31, 2002 Audited
Financial Statements and all accounts and notes receivable arising subsequent to
December 31, 2002, have arisen in the ordinary course of business and represent
valid obligations to the Company and its Subsidiaries, subject to customary
allowances recorded on the books and records of the Company for bad debts in a
manner consistent with past practice.

          Section 4.23  INDEBTEDNESS. Other than as specified on Schedule 4.23
or as expressly set forth in the December 31, 2002 Audited Financial Statements,
neither the Company nor any of its Subsidiaries has any Indebtedness.

          Section 4.24  CAPITAL EXPENDITURES. Schedule 4.24 sets forth a
complete and correct list, by dollar amount and type, of all capital
expenditures of the Company and its Subsidiaries during each calendar month of
the 2002 calendar year.

                                       38
<Page>

          Section 4.25  INSURANCE. (a) Schedule 4.25 lists each insurance policy
to which the Company or any of its Subsidiaries has been a party, a named
insured, or otherwise the beneficiary of coverage or with respect to which they
make payments at any time with respect to claims that have occurred since
January 1, 2000 ("POLICIES"). All such Policies are in full force and effect
and, to the Knowledge of the Company, are insured by carriers that are solvent.
There has been no material gap period with respect to the coverage provided
under any Policies. All premiums with respect to each Policy covering all
periods up to and including the date hereof have been paid to the extent due, no
written notice of cancellation or termination has been received with respect to
any such Policy and, to the Knowledge of the Company, no such Policy is void
and, to the Knowledge of the Company, no basis exists for any such Policy to be
voidable. Current and historical limits of liability under each Policy have not
been exhausted or materially impaired. The aggregate annual premium during the
2002 calendar year for the directors and officers liability insurance policy
covering directors and officers of the Company and its Subsidiaries for the 2002
calendar year was approximately $54,000.

          (b)     Each insurable asset of the Company and its Subsidiaries has
at all material times been and is at the date of this Agreement insured in an
amount that the Company reasonably believes is adequate against each risk that
the Company believes requires insurance. The Company reasonably believes that it
and its Subsidiaries have at all material times been and are as of the date of
this Agreement adequately insured against all risks customarily insured against
by companies in the Company's industry and geographic regions.

          (c)     No claim is outstanding under any of the Policies and, to the
Knowledge of the Company, no event has occurred which gives rise to a claim
under any of the Policies. The Company has not received any written notice of
any unscheduled increase in the premium payable under any of the Policies.

          Section 4.26  SUPPLIERS. Schedule 4.26 sets forth a complete and
correct list of the ten (10) suppliers that accounted for the largest dollar
volume of purchases by each of the Company and its Subsidiaries taken as a
whole, Brink International BV and its Subsidiaries taken as a whole and
SportRack, LLC and its Subsidiaries taken as a whole during each of the 2001 and
2002 calendar years (the "MATERIAL SUPPLIERS"). No Material Supplier has
canceled or otherwise terminated, or threatened in writing to cancel or
otherwise terminate, its relationship with the Company or any of its
Subsidiaries during the twelve months immediately preceding the date hereof or
has during the last twelve months materially decreased, or threatened in writing
to materially decrease or materially limit, its services, supplies or materials
to the Company or any of its Subsidiaries. Neither the Company nor any of its
Subsidiaries has received any written notice since January 1, 2002 that any
Material Supplier intends to cancel or otherwise materially and adversely modify
its commercial relationship with the Company or any of its Subsidiaries or to
materially decrease or materially limit its provision of services, supplies or
materials to the Company or any of its Subsidiaries.

          Section 4.27  CUSTOMERS.

          (a)     Schedule 4.27(a) sets forth a complete and correct list of the
ten (10) customers (the "MATERIAL CUSTOMERS") of each of the Company and its
Subsidiaries taken as a whole, Brink International BV and its Subsidiaries taken
as a whole and SportRack, LLC and its

                                       39
<Page>

Subsidiaries taken as a whole for each of the 2001 and 2002 calendar years
accounting for the highest revenues in comparison with the other customers of
such entities. The Material Customers collectively accounted for the percentages
of the revenues of the Company and its Subsidiaries on a consolidated basis
during each such calendar year, respectively, set forth on Schedule 4.27(a),
together with the dollar amount of sales made to each customer for each such
calendar year.

          (b)     Except as set forth on Schedule 4.27(b), no Material Customer
has canceled or otherwise terminated, or threatened in writing to cancel or
otherwise terminate or materially modify, its commercial relationship or any
purchase program with the Company or any of its Subsidiaries during the twelve
months immediately preceding the date hereof or has during the last twelve
months materially decreased, or threatened in writing to materially decrease or
materially limit, its purchases from the Company or any of its Subsidiaries.

          Section 4.28  INVENTORIES. Except as set forth on Schedule 4.28, the
inventories of the Company and its Subsidiaries with respect to the Business
include no items which are obsolete, of below standard quality or of a quality
or quantity not usable or salable in the normal course of business of the
Business for which adequate reserves have not been made and recorded on the
books and records of the Company.

          Section 4.29  PRODUCT WARRANTY. Except for the G3.0 Model Recall and
as set forth on Schedule 4.19, each product manufactured, sold, or delivered in
connection with the operation of the business of the Company and its
Subsidiaries conforms in all material respects with all applicable Contracts and
all express and implied warranties and the Company and its Subsidiaries have no
liability for replacement or repair thereof or other damages in connection
therewith. Except for the G3.0 Model Recall and as set forth on Schedule 4.19,
in the aggregate, the products manufactured, sold or distributed by the Company
or any of its Subsidiaries in connection with the Business are free from all
defects in workmanship and materials, and conform in all respects with standards
for products of that type, except such as could not reasonably be expected to
have a Material Adverse Effect.

          Section 4.30  PRODUCT LIABILITY. (a) Except for the G3.0 Model Recall
and except as set forth on Schedule 4.30(a) and Schedule 4.30(b), neither the
Company nor any of its Subsidiaries has any material liability arising from any
claims related to the manufacture, design or sale of the products of the Company
or any of its Subsidiaries, including, but not limited to, claims of
professional negligence, manufacturing negligence or improper workmanship, or
claims in whole or in part premised upon product liability.

          (b)     Except for the G3.0 Model Recall and except as set forth on
Schedule 4.30(a) and Schedule 4.30(b), neither the Company nor any of its
Subsidiaries has any material liability (and, to the Knowledge of the Company,
there is no reasonable basis for any assertion of liability that could result in
a material liability) arising from any recall or proposed recall of any products
manufactured, sold, distributed or supplied by the Company or any of its
Subsidiaries. To the Knowledge of the Company, except for the G3.0 Model Recall,
there is no reasonable basis for any product manufactured, distributed or sold
by the Company or any of its Subsidiaries to be the subject of any product
recall which could reasonably be expected to have a Material Adverse Effect.

                                       40
<Page>

          (c)     Except as set forth on Schedule 4.30(c), neither the Company
nor any of its Subsidiaries manufactures, sells or supplies in the United States
or Canada the product that is the subject of the G3.0 Model Recall or the same
product sold, marketed or distributed under a different name or brand.

          (d)     No Governmental Entity has requested that any of the products
manufactured, sold, designed or distributed by the Company or any of its
Subsidiaries be removed from the market, that substantial new product testing be
undertaken as a condition to the continued manufacturing, selling or
distribution of any such product or that such product be modified.

          (e)     The Company has made available to Buyer during the course of
Buyer's due diligence visit at the Company's and its Subsidiaries' facilities or
was otherwise furnished a complete and correct set of all written studies,
correspondence, reports or other materials relating to any recall or proposed
recall of any product manufactured or distributed by the Company or any of its
Subsidiaries since January 1, 2001.

          Section 4.31  HEDGING AGREEMENTS. Except as set forth on
Schedule 4.31, neither the Company nor any of its Subsidiaries has entered into
any Hedging Agreement.

          Section 4.32  COMPETITION ACT. Neither the aggregate value of the
assets in Canada of the Company and the corporations controlled by the Company,
nor the annual gross revenues from sales in or from Canada generated from those
assets, exceed, in each case, CDN $35,000,000, all as determined in accordance
with the Competition Act (Canada) and the Notifiable Transaction Regulations
promulgated thereunder.

          Section 4.33  FRENCH FACILITIES. Attached to Schedule 4.33 are
complete and correct copies of all agreements and instruments, together with all
schedules and exhibits thereto, governing the French Facility Disposition, the
French Facility Building Sale/Leaseback Transaction and the French Facility
Equipment Sale/Leaseback Transaction. Schedule 4.33 sets forth a correct,
complete and detailed account of the Net Disposition Proceeds from the French
Facility Disposition, the Net Equipment Sale/Leaseback Proceeds from the French
Facility Equipment Sale/Leaseback Transaction and the Net Building
Sale/Leaseback Proceeds from the French Facility Building Sale/Leaseback
Transaction.

          Section 4.34  NO ADDITIONAL REPRESENTATIONS. NONE OF THE SELLERS OR
THE COMPANY IS MAKING ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF ANY
NATURE WHATSOEVER WITH RESPECT TO THE SELLERS, THE COMPANY OR ANY OF ITS
SUBSIDIARIES, INCLUDING ANY OF THE ASSETS, PROPERTIES OR RIGHTS OF THE COMPANY
OR ANY OF ITS SUBSIDIARIES, EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES
EXPRESSLY SET FORTH IN THIS AGREEMENT, AND EXCEPT AS EXPRESSLY SET FORTH IN THIS
AGREEMENT, THE CONDITION OF THE ASSETS, PROPERTIES AND RIGHTS OF THE COMPANY AND
ITS SUBSIDIARIES, SHALL BE "AS IS", "WHERE IS" AND "WITH ALL FAULTS."

                                       41
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                                   ARTICLE IVA

                         REPRESENTATIONS AND WARRANTIES
                                  OF THE BUYER

          The Buyer represents to the Sellers, effective as of the Closing, as
follows, subject in each case to the completion of the Transaction:

          Section 4A.1. DUE AUTHORIZATION/NO CONFLICT. The issuance by the
Promissory Note Obligors of the Promissory Notes to the Sellers, the issuance of
the New Units and New Options by the Buyer to the Rollover Sellers and the
issuance of the Promissory Notes and Contingent Payment Notes, if any, to the
Sellers (a) will be duly and validly authorized by all necessary action of such
Person, including any action by the Board of Managers or members of the Buyer
and all necessary action on the part of the Promissory Note Obligors, including
any action by the board of directors, equityholders or other equivalent
governing body of the Promissory Note Obligors and (b) will not (i) result in
any breach of any provision of the Promissory Notes Obligors' or the Buyer's
Organizational Documents, (ii) conflict with, or constitute a default (or an
event which with notice or lapse of time or both would become a default) or give
rise to any termination, modification, requirement to make additional payments,
cancellation, vesting, payment, exercise, or acceleration of any payment or
right, suspension or revocation under the terms, conditions or privileges of,
any agreement, indenture or instrument to which the Buyer or any of the
Promissory Note Obligors is a party, including, without limitation, the
Financing Documents or (iii) result in a violation of any Law applicable to the
Buyer, any Promissory Note Obligor or their respective properties or assets.

          Section 4A.2. CONSENTS. None of the Buyer nor any of the Promissory
Note Obligors will be required to obtain any consent, authorization or order of,
or make any filing or registration with, any court, Governmental Entity or other
Person in order to issue the Promissory Notes to the Sellers, the New Units or
New Options to the Rollover Sellers or to issue the Contingent Payment Notes (if
any) to the Sellers, as applicable, that will not have been received at or prior
to Closing or, in the case of the Contingent Payment Notes (if any), prior to
the issuance of such Contingent Payment Notes.

          Section 4A.3. VALID ISSUANCE. When paid for in accordance with the
terms of this Agreement, the New Units and New Options shall be validly issued,
fully paid and nonassessable, free of any Liens other than Liens imposed under
state and federal securities Laws and under the Buyer's Organizational
Documents. When issued in accordance with the terms of this Agreement, the
Promissory Notes and any Contingent Payment Notes shall be validly issued, free
of any Liens other than Liens imposed under state and federal securities Laws
and other than as provided in such Promissory Notes or Contingent Payment Notes,
as the case may be.

          Section 4A.4. OFFERING. Assuming the accuracy of the Sellers'
representations and warranties set forth in Article IIIA, the offer, sale and
issuance of the Promissory Notes by the Promissory Note Obligors, and the New
Units and New Options by the Buyer, any Contingent Payment Notes issued by the
Promissory Note Obligors and the right to receive any portion of the Contingent
Payment Amount in conformity with the terms of this Agreement will be exempt
from the registration requirements of the Securities Act or, except for the
issuance of

                                       42
<Page>

Promissory Note and Contingent Payment Notes to a Netherlands Domiciliary, any
similar requirement under any foreign securities Law applicable to the Sellers.

                                    ARTICLE V

                         REPRESENTATIONS AND WARRANTIES
                                  OF THE BUYER

          The Buyer hereby represents and warrants to the Sellers as follows:

          Section 5.1   ORGANIZATION. The Buyer is a limited liability company
duly formed, validly existing and in good standing under the laws of its
jurisdiction of formation and has the power and authority and all necessary
Governmental Authorizations to own, lease and operate its properties and to
carry on its business as it is now being conducted. Holdings BV is a
wholly-owned Subsidiary of AASA. Before giving effect to the Transaction, the
Buyer has no Subsidiaries other than Holdings BV and AASA. SportRack and Valley
are the only issuers of Indebtedness under the Convertible Bridge Promissory
Note issued to CHP IV or one or more of its Affiliates on the date hereof to
finance, in part, the Transaction (the "CHP IV BRIDGE NOTE") and the Buyer,
AASA, the Company, AAS Capital and Valtek, LLC (collectively, the "CHP IV BRIDGE
NOTE GUARANTORS") are the only guarantors of the CHP IV Bridge Note on the date
hereof.

          Section 5.2   AUTHORIZATION AND VALIDITY OF AGREEMENT. Each of the
Buyer, Holdings BV and AAS Acquisitions, a Delaware limited liability company, a
direct wholly-owned subsidiary of the Buyer and the direct parent of Holdings BV
("AASA") has the requisite power and authority to execute, deliver and perform
its obligations under this Agreement and all other agreements contemplated
hereunder (collectively, the "PRINCIPAL DOCUMENTS") and to consummate the
transactions contemplated hereby and thereby in accordance with the terms hereof
and thereof. The Buyer's Board of Managers has duly authorized the execution,
delivery and performance of the Principal Documents by the Buyer (or has caused
the relevant Subsidiary of the Buyer that is an obligor under any Principal
Documents to authorize the execution, delivery and performance of such Principal
Document), and no other limited liability company proceedings on the part of the
Buyer or any of its Subsidiaries are necessary to authorize the Principal
Documents or the transactions contemplated hereby. The Principal Documents have
been duly executed and delivered by the Buyer (or the applicable Subsidiary of
the Buyer that is obligated under such Principal Document) and, constitute the
legal, valid and binding obligation of the Buyer or the applicable Subsidiary of
the Buyer that is obligated under such Principal Document, enforceable against
it in accordance with their terms, except as may be limited by any bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or other similar
laws affecting the enforcement of creditors' rights generally or by general
principles of equity. The governing bodies of each of the Buyer, AASA and
Holdings BV have duly authorized all actions required on the part of such
Persons under this Agreement and the Principal Documents and no other
proceedings on the part of such Persons are necessary to authorize the actions
required by such Persons under this Agreement or the Principal Documents.

          Section 5.3   CONSENTS AND APPROVALS.

                                       43
<Page>

          (a)     Neither the execution and delivery of this Agreement by the
Buyer nor the performance by the Buyer, AASA or Holdings BV of their respective
obligations in this Agreement will require on the part of the Buyer, AASA or
Holdings BV any Governmental Authorization from, approval of, filing with or
notification to, any Governmental Entity, except (a) for any applicable filings
required under the HSR Act or required pursuant to any other non-U.S. antitrust
and competition law statutes, regulations and treaties as described on Schedule
5.3, (b) any applicable notification pursuant to the Investment Canada Act as
described on Schedule 5.3, (c) as set forth on Schedule 5.3 or (d) where the
failure to obtain such Governmental Authorization, or to make such filing or
notification, would not have a material adverse effect on the Buyer, AASA or
Holdings BV or prevent the performance by the Buyer, AASA or Holdings BV of
their respective obligations hereunder.

          (b)     Neither the execution and delivery of any Principal Document
by any of the Buyer or any of its Subsidiaries that is a party to such Principal
Document nor the performance by the Buyer or any of its Subsidiaries that is a
party to any such Principal Document will require on the part of the Buyer or
any such Subsidiary any Governmental Authorization from, approval of, filing
with or notification to, any Governmental Entity, except (a) as set forth on
Schedule 5.3 or (b) where the failure to obtain such Governmental Authorization,
or to make such filing or notification, would not have a material adverse effect
on the Buyer or any of its Subsidiaries or prevent the performance by the Buyer
or any of its Subsidiaries of their respective obligations under any Principal
Document.

          Section 5.4   NO CONFLICT OR VIOLATION.

          (a)     Neither the execution and delivery of this Agreement by the
Buyer, nor the performance by the Buyer, AASA or Holdings BV of their respective
obligations in this Agreement will (a) result in a violation or breach of, or
constitute (with or without notice or lapse of time or both) a default (or give
rise to any right of termination, cancellation, vesting, payment, exercise,
acceleration, suspension or revocation) under, any of the terms, conditions or
provisions of any agreement, instrument or obligation to which the Buyer, AASA
or Holdings BV is a party or by which the Buyer, AASA, Holdings BV, or any of
their respective properties or assets may be bound, or (b) violate any Law
applicable to the Buyer, AASA, Holdings BV or any of their respective properties
or assets.

          (b)     Neither the execution and delivery of any Principal Document
to which any of the Buyer or any of its Subsidiaries is party, nor the
performance by the Buyer or any of its Subsidiaries of their respective
obligations under any Principal Document to which it is a party will (a) result
in a violation or breach of, or constitute (with or without notice or lapse of
time or both) a default (or give rise to any right of termination, cancellation,
vesting, payment, exercise, acceleration, suspension or revocation) under, any
of the terms, conditions or provisions of any agreement, instrument or
obligation to which the Buyer or any of its Subsidiaries is a party or by which
the Buyer or any of its Subsidiaries, or any of their respective properties or
assets may be bound, or (b) violate any Law applicable to the Buyer or any of
its Subsidiaries or any of their respective properties or assets.

          Section 5.5   LITIGATION. There is no suit, action, proceeding or
investigation or any outstanding injunctions, judgments, orders or decrees
(whether at law or equity, before or

                                       44
<Page>

by any federal, state or foreign commission, court, tribunal, board, agency or
instrumentality, or before any arbitrator) pending or, to the Knowledge of the
Buyer, threatened, against the Buyer, AASA or Holdings BV, the outcome of which
would be reasonably likely to in any material respect impair the Buyer's, AASA's
or CHAAS Holding's ability to perform their respective obligations hereunder or
under any Principal Document.

          Section 5.6   BROKERS AND FINDERS. Except as set forth on
Schedule 5.6, in connection with this Agreement or the transactions contemplated
hereby, no broker, finder, investment bank or financial advisor has acted for
the Buyer, AASA or Holdings BV, and none of the Buyer, AASA or Holdings BV has
incurred any obligation to pay a brokerage, finder's or other fee or commission
to any Person.

          Section 5.7   INVESTMENT REPRESENTATION. The Buyer acknowledges on its
own behalf and on behalf of Holdings BV (solely with respect to the Brink
Securities and the Brink Receivable) that none of the Brink Securities, the
Brink Receivable, the Purchased Company Securities or Rollover Securities is
registered under the securities laws of any jurisdiction and that it or Holdings
BV, as applicable, is acquiring the Brink Securities, the Brink Receivable, the
Purchased Company Securities and the Rollover Securities for its own account,
not as a nominee or agent, for investment, and not with a view to the
distribution thereof. The Buyer and Holdings BV are sophisticated investors with
knowledge and experience in financial and business matters, are capable of
evaluating the risks and merits of the purchase of the Brink Securities, the
Brink Receivable, the Purchased Company Securities and the Rollover Securities,
and have the capacity to protect their own interests. The Buyer acknowledges (on
its own behalf and on behalf of Holdings BV) that the Company and the
Subsidiaries have given the Buyer and Holdings BV the opportunity to ask
questions of the officers and management employees of the Company and its
Subsidiaries, to obtain additional information about the business and financial
condition of the Company and its Subsidiaries, and access to the facilities,
books and records relating to the Company's business in order to evaluate the
purchase contemplated hereby.

          Section 5.8   RESALE RESTRICTIONS. The Buyer acknowledges on its own
behalf and on behalf of AASA and Holdings BV (solely with respect to the Brink
Securities and the Brink Receivable) that (a) the Brink Securities, the Brink
Receivable, the Purchased Company Securities and the Rollover Securities have
not been, and will not be upon issuance, registered or qualified under any
securities Laws, by reason of their transfer in a transaction exempt from the
registration or qualification requirements of such Laws, and (b) the Brink
Securities, the Brink Receivable, the Purchased Company Securities and the
Rollover Securities must be held indefinitely unless a subsequent disposition
thereof is registered or qualified under all applicable securities Laws or is
exempt from such registration or qualification.

          Section 5.9   NO ADDITIONAL REPRESENTATIONS. THE BUYER IS NOT MAKING
ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF ANY NATURE WHATSOEVER
WITH RESPECT TO ITSELF OR ANY OF ITS SUBSIDIARIES, INCLUDING ANY OF THE ASSETS,
PROPERTIES OR RIGHTS OF THE BUYER OR ANY OF ITS SUBSIDIARIES, EXCEPT FOR THE
REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT.

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                                   ARTICLE VI

                            COVENANTS OF THE SELLERS

          Section 6.1   CONDUCT OF BUSINESS. From the date of this Agreement
until the Closing Date, the Sellers agree that, except as otherwise contemplated
by this Agreement, or as the Buyer shall otherwise consent:

          (a)     ORDINARY COURSE. The business of the Company and its
Subsidiaries shall be conducted in the ordinary course consistent with past
practice and in such a manner between the date hereof and the Closing Date and
use all commercially reasonable efforts to ensure that no act or event within
the Company's or the Sellers' control shall occur during that period which would
be reasonably expected to result in a failure of any condition to the Closing.

          (b)     GOVERNING DOCUMENTS. The Company will not, and will not permit
any Subsidiary to, amend in any material respect its certificate of formation,
certificate of incorporation, operating agreement, articles, by-laws or other
Organizational Documents.

          (c)     ISSUANCE OF EQUITY INTERESTS. The Company will not, and will
not permit any Subsidiary to (i) issue, transfer, sell, purchase, redeem, retire
or dispose of, or authorize or agree to the issuance, transfer, sale, purchase,
redemption, retiring or disposition of (whether through the issuance or granting
of options, rights, warrants, or otherwise), any Units, shares of capital or
loan stock or any equity interests of the Company or any of its Subsidiaries or
any options, rights, warrants or other securities convertible into or
exchangeable or exercisable for any such Units, shares of capital stock or
equity interests of the Company or any of its Subsidiaries or (ii) amend any of
the terms of any securities or agreements relating to such Units, capital or
loan stock or equity interests outstanding on the date hereof; PROVIDED,
HOWEVER, that the exercise of options and warrants shall be permitted only if
the Company Securities received upon such exercise are to be sold to Buyer or
exchanged by a current employee of the Company or one of its Subsidiaries for
New Units or New Options at Closing pursuant to the terms of this Agreement.

          (d)     NO BUSINESS ACQUISITIONS. The Company will not, and will not
permit any Subsidiary to, acquire or agree to acquire, by merging or
consolidating with, or by purchasing a substantial equity interest in, a
substantial portion of the assets of, or by any other manner, any business or
any corporation, partnership, association, limited liability company, joint
venture or other business organization or division thereof or otherwise acquire
or agree to acquire any assets that, individually or in the aggregate, would be
material to the Company and its Subsidiaries taken as a whole.

          (e)     NO ACQUISITIONS OR DISPOSITIONS OF ASSETS. The Company will
not, and will not permit any Subsidiary to acquire or sell, lease, license,
mortgage, encumber, subject to any Lien or otherwise dispose of or agree to
sell, lease, license, mortgage, encumber, subject to any Lien or otherwise
dispose of, any of the material assets or properties of the Company and its
Subsidiaries or incur or agree to incur any liability, obligation or expense
(actual or contingent) other than in the ordinary course of business, consistent
with past practice, as set forth on Schedule 6.1(e).

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          (f)     MAINTENANCE OF PROPERTIES. The Company will, and will cause
its Subsidiaries to, continue to maintain and repair all Owned Real Property,
Leased Real Property and Tangible Property (in each case, subject to ordinary
wear and tear) material to the operation of the Company and its Subsidiaries in
a manner consistent in all material respects with past practice and in
accordance with the requirements of all applicable Contracts.

          (g)     BENEFIT PLANS. Except as required by Law or as set forth on
Schedule 6.1(g), the Company will not, and will not permit any Subsidiary to,
adopt, amend, (in any material respect) discontinue (in whole or in part) or
terminate any Benefit Plan, defer making any payments due under any Benefit Plan
(other than consistently with past practices and on a basis that will not have a
material adverse effect on the Company or any of its Subsidiaries) or commit any
material default under any such plan.

          (h)     INDEBTEDNESS. Except as set forth on Schedule 6.1(h), the
Company will not, and will not permit any Subsidiary to make any loans, advances
or capital contributions to, or investments in, any other Person, other than (i)
extensions of credit to officers and employees for customary travel, business or
relocation expenses and (ii) intercompany Indebtedness.

          (i)     CONTRACTS. The Company will not, and will not permit any
Subsidiary to, enter into, modify, amend or terminate any material Contract
(including, but not limited to, collective bargaining agreements and similar
agreements) or agreement to which the Company or any Subsidiary of the Company
is a party or waive, release or assign any material rights or claims thereunder
except in the ordinary course of business consistent with past practice.

          (j)     SALARIES. Except as set forth on Schedule 6.1(j), the Company
will not, and will not permit any Subsidiary to, increase in any manner the
aggregate compensation or fringe benefits (including, without limitation,
commissions) of any officer, director, employee or independent contractor of the
Company or any Subsidiary of the Company with aggregate annual compensation
exceeding $100,000 or enter into or modify any employment, engagement, severance
or similar contract with any such Person.

          (k)     MERGER OR CONSOLIDATION. The Sellers will not permit the
Company, or any Subsidiary of the Company, to (i) merge or consolidate with or
into any other legal entity or dissolve or liquidate or otherwise reorganize or
(ii) adopt a plan of liquidation or approve resolutions providing for the
liquidation, dissolution, merger, consolidation or other reorganization of the
Company or any of its Subsidiaries.

          (l)     ACCOUNTING METHODS. The Company will not, and will not permit
any Subsidiary to, make any material change to its accounting methods,
principles or practices, except as may be required by GAAP.

          (m)     BUSINESS RELATIONSHIPS. The Company will use commercially
reasonable efforts (i) to preserve substantially intact the present business
organization of the Company and its Subsidiaries and (ii) to preserve the
present relationships of the Company and its Subsidiaries with, customers and
suppliers.

          (n)     RELATED PARTY TRANSACTIONS. The Company will not, and will not
permit any Subsidiary to, engage in any transactions with any Related Party,
except under agreements or

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arrangements disclosed on Schedule 4.21, as contemplated hereby or in any
related documents or otherwise to facilitate the completion of the Transaction
as contemplated by this Agreement and that could not reasonably be expected to
have a Material Adverse Effect.

          (o)     DIVIDENDS. The Company will not, and will not permit any
Subsidiary to (i) declare, set aside or pay any non-cash dividend or non-cash
distributions of any kind to the members of the Company or (ii) declare, set
aside or pay any cash dividend or distributions of any kind to the members of
the Company in their capacity as such other than quarterly tax distributions
from the Company to its members, in a manner consistent with past practice and
in no event exceeding 44% of the net income of the Company attributable to such
member for such quarter (subject to adjustments consistent with past practice).

          (p)     REVALUATION. The Company will not, and will not permit any
Subsidiary to, revalue any portion of its assets, properties or businesses
including any write-down of the value of inventory or any write-off of notes or
accounts receivable, except as required by GAAP or applicable Law.

          (q)     WAIVER. The Company shall not, and shall not permit any
Subsidiary to, waive or cancel any material debt or material right, claim or
privilege with respect to any agreement set forth or required to be set forth on
Schedule 4.15, other than in the ordinary course of business consistent with
past practice.

          (r)     TAX ELECTION. The Company will not, and will not permit any
Subsidiary to, make or change any Tax election, change any annual Tax accounting
period, adopt or change any method of Tax accounting, file any amended Return,
enter into any closing agreement, settle any Tax claim or assessment, surrender
any right to claim a Tax refund, consent to any extension or waiver of the
limitation period applicable to any Tax claim or assessment or take or omit to
take any other action, if any such action or omission would be expected to have
the effect of materially increasing the Tax liability of the Company or any
Subsidiary of the Company.

          (s)     HEDGING AGREEMENTS. The Company will not, and will not permit
any Subsidiary to, enter into any Hedging Agreement, other than Hedging
Agreements entered into in the ordinary course of business to hedge or mitigate
risks to which the Company and its Subsidiaries is exposed in the conduct of its
business or the management of its liabilities.

          (t)     INSURANCE. Except as set forth on Schedule 6.1(t), the Company
and its Subsidiaries will continue each Policy or obtain replacements therefor
with comparable levels of coverage, premiums and other terms and conditions and
not intentionally do or omit to do anything which would make such a Policy void
or voidable or would likely result in an increase not otherwise provided for in
such Policy in the premium payable under such a Policy or materially prejudice
the ability to effect equivalent insurance in the future.

          (u)     LITIGATION. The Company will not, and will not permit any of
its Subsidiaries to (i) start litigation or arbitration proceedings except in
the ordinary course of business or (ii) compromise, settle, release, discharge
or compound litigation or arbitration proceedings, in each case, or a liability,
claim, action, demand or dispute, or waive a right in relation to litigation or
arbitration proceedings other than (x) as may be required by the Company

                                       48
<Page>

to comply with its obligation under any currently existing contractual
arrangements and (y) litigation or arbitration proceedings that are settled or
compromised for aggregate payments that do not exceed $50,000; PROVIDED, that in
no event shall the Company or any of its Subsidiaries compromise, settle,
release, discharge or compound any litigation or arbitration proceeding to the
extent that the business of the Company or any of its Subsidiaries would be
materially restricted as a consequence thereof; PROVIDED, FURTHER, that,
notwithstanding anything in this Section 6.1(u) to the contrary, the Company may
settle the Gibbs Litigation subject to the satisfaction of the requirements set
forth in Section 8.10(b).

          (v)     GENERALLY. The Company will not, and will not permit any of
its Subsidiaries to, authorize, commit or agree to take, any of the foregoing
actions.

          Section 6.2   COMPANY INDEBTEDNESS. On or prior to the Closing Date,
the Company shall, subject to the consummation of the transactions contemplated
by the definitive senior and senior subordinated financing agreements being
entered into at Closing to fund a portion of the Aggregate Consideration
(collectively, the "FINANCING DOCUMENTS") hereunder, cause all amounts owing as
of the Closing Date, without giving effect to the Brink Acquisition or the
Ancillary Transactions, in respect of the Indebtedness of the Company and its
Subsidiaries as set forth on Schedule 6.2 to be repaid in full, shall cause the
termination, release and discharge of all related security interests, and shall
deliver to Buyer and its lenders for filing any necessary UCC-3 termination
statements, financing change statements, hypothecary discharges, discharges of
mortgages and any other instruments, releases, agreements or documents as may be
necessary or desirable to terminate, release or discharge such related security
interests.

          Section 6.3   ACCESS. Until the Closing, the Sellers shall cause, upon
reasonable advance notice from the Buyer, the Company and its Subsidiaries to:

          (a)     make available for inspection by the Buyer and representatives
of the Buyer (including lenders and equity investors), during normal business
hours, corporate records, books of account, contracts and all other records and
documents reasonably requested by any of them;

          (b)     permit the Buyer and its representatives reasonable access to
the properties of the Company and its Subsidiaries during normal business hours;

          (c)     cause the respective directors, officers, employees,
accountants, insurance agents, environmental engineers, consultants and auditors
of the Company and its Subsidiaries to be available on reasonable notice during
normal business hours to answer questions from the Buyer and its
representatives; and

          (d)     prior to Closing, the Buyer and its agents shall have access
to conduct, at the Buyer's sole cost and expense, Phase I and II Environmental
Site Assessments of each of the properties owned or operated by the Company and
its Subsidiaries; PROVIDED, HOWEVER, that nothing in this Section 6.3(d) shall
be deemed to modify Article X hereof.

          Section 6.4   MAINTENANCE OF RECORDS. From and after the Closing, the
Buyer agrees (a) to hold all of the books and records of the Buyer and its
Subsidiaries existing on the Closing Date and not to destroy or dispose of any
thereof for a period of seven years from the

                                       49
<Page>

Closing Date or such longer time as may be required by Law, and thereafter, if
it desires to destroy or dispose of such books and records, to offer first in
writing at least 60 calendar days prior to such destruction or disposition to
surrender them to the Sellers, and (b) to afford the Sellers, their accountants
and legal counsel, during normal business hours, upon reasonable request, at any
time, full access to such books and records and to the officers and management
level employees of the Buyer and its Subsidiaries or to the extent that such
access may be requested for any legitimate purpose subject to the Sellers'
reimbursement of any such Subsidiaries' reasonable out-of-pocket expenses
incurred in connection therewith. From and after the Closing, the Buyer shall
have the same rights, and the Sellers the same obligations, as are set forth
above in this Section 6.4 with respect to any books or records of the Sellers
pertaining to the respective businesses of the Company and its Subsidiaries as
of immediately prior to the Closing Date.

          Section 6.5   NON-SOLICITATION. (a) Until the Closing Date, the
Sellers, and the Company's Board of Managers and management (collectively, the
"CONTROLLING MEMBERS"), shall not directly or indirectly, solicit or engage in
discussion with third parties, initiate, entertain or respond to offers,
inquiries, proposals or discussions, or enter into any agreement involving any
transaction that has as its purpose a business combination involving or
disposing of the whole or part of the Company or any of its Subsidiaries or any
other transaction that would make the Transaction contemplated by this Agreement
infeasible or impractical (each a "PROPOSAL"), or provide information to any
person other than the Controlling Members or any of the Company's advisors or
lenders regarding the Company or its Subsidiaries in the context involving a
potential Proposal or the Transaction contemplated hereby.

          (b)     For purposes of this Agreement, non-solicitation shall
include, but not be limited to, any proposed or actual (i) sale, merger,
consolidation or similar transaction involving the Company or its Subsidiaries,
(ii) sale, lease or other disposition, directly or indirectly, by merger,
consolidation, share exchange or otherwise, of any assets or properties of the
Company or its Subsidiaries representing 10% or more of the consolidated assets,
revenues, earnings before interest, tax, depreciation and amortization or
profits of the Company or such Subsidiaries, (iii) issuance, sale or other
disposition by the Company or any of its Subsidiaries (including by way of
merger, consolidation, share exchange or any similar transaction) of any
interest or securities (or options, rights or warrants to purchase, or
securities convertible into, such securities) representing 10% or more of the
votes associated with the Units of the Company, (iv) recapitalization,
restructuring, liquidation, dissolution or other similar type of transaction
with respect to the Company or (v) transactions which are similar in form,
substance or purpose to any of the foregoing transactions. In the event the
Company or any of its Subsidiaries or any of its Controlling Members receive any
such Proposal, the Company or such Subsidiary or Controlling Member will
immediately inform the Buyer and provide the Buyer with the details thereof,
including a copy of any Proposal.

          Section 6.6   BANK ACCOUNTS OF THE BUSINESS. The Sellers shall use
commercially reasonable efforts to provide the Buyer with a list of each of the
bank accounts of the Company and its Subsidiaries and the authorized signatories
as soon as practicable. The parties shall cooperate as specified in Section 8.2
in connection with the replacement or supplementation of such signatories
effective as of the Closing.

                                       50
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          Section 6.7   NON-COMPETITION. (a) For a period of two (2) years after
the Closing Date, the Sellers (other than the Sellers listed on Schedule 6.7(a)
and their Affiliates (collectively, the "EXCLUDED SELLERS")) and their
Controlled Affiliates shall not engage in the Business anywhere in the world,
and for a period of one (1) year after the Closing Date, the Sellers (other
than, subject to Section 6.7(b), the Excluded Sellers)) and their Controlled
Affiliates shall not solicit for employment, consultation or any other
management position any Designated Employee. In addition, for a period of one
(1) year after the Closing Date, the Sellers (other than, subject to Section
6.7(b), the Excluded Sellers) and their Controlled Affiliates shall not, without
the prior consent of the Buyer, hire any Designated Employees.

          (b)     For a period of one (1) year after the Closing Date, the
Excluded Sellers (other than JP Morgan and its Affiliates) and JP Morgan and its
Controlled Affiliates shall not solicit for employment or consultation or employ
or retain for consultation any of Terence Seikel, Barry Steele, Richard Borghi,
Bryan Fletcher, Wim Rengelink, Gerrit DeGraaf, Barbara Rushing, Corina
Koenders-de Rijke, Paulette Brinker and Tom McMillan (collectively, the
"DESIGNATED EMPLOYEES").

          (c)     The Sellers acknowledge that the Buyer will be irrevocably
damaged if the covenant set forth in this Section 6.7 is not specifically
enforced. Accordingly, the Sellers agree that, in addition to any other relief
to which the Buyer may be entitled, the Buyer shall be entitled to seek and
obtain injunctive relief (without the requirement of any bond) from a court of
competent jurisdiction for the purposes of restraining the Sellers and any
Affiliates thereof from any actual or threatened breach of such covenant.

          (d)     To the extent any of the Sellers' obligations under this
Section 6.7 are more restrictive upon such Seller than the terms of any
employment, non-competition or non-solicitation agreement such Seller has with
the Company or any of its Subsidiaries, the provisions of such agreement(s)
shall control to the extent that this Agreement is more restrictive upon such
Seller.

          Section 6.8   EMPLOYEES. Prior to the Closing Date, the Sellers shall
use commercially reasonable efforts and assist the Company and its Subsidiaries
in retaining its employees and maintaining their relationships with such
employees.

          Section 6.9   RESERVED.

          Section 6.10  RESERVED.

          Section 6.11  RESERVED.

          Section 6.12  ACCRUALS. The Sellers shall have caused the Company and
its Subsidiaries to accrue for bonuses, vacation and sick days and other
benefits and payments for fiscal year 2003 (through the Closing Date) in
accordance with GAAP.

          Section 6.13  RELEASES. Each of the Sellers, effective as of the
Closing Date, forever irrevocably discharges the Company, and each Subsidiary
and Controlled Affiliate of the Company (before giving effect to the
Transaction), and their respective members, shareholders, partners, employees,
officers, directors, agents, attorneys and representatives ("RELEASEES"), from

                                       51
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any and all claims, complaints, grievances, demands, debts, contracts,
agreements, liabilities, obligations, suits, costs, expenses, rights, actions
and causes of action whatsoever, of whatever nature, character or description,
whether known or unknown, whether anticipated or unanticipated, whether in law
or in equity, or whether in the jurisdiction of any court or regulatory body
(collectively, the "CLAIMS"), which any Seller has ever had or may ever claim
against the Releasees, from the beginning of time to such Closing Date insofar
as same are related to the Company or any of its Subsidiaries (before giving
effect to the Transaction), other than any Claim of Sellers arising out of or
relating to this Agreement, any other document or instrument executed and
delivered in connection with the Transaction, including the Principal Documents,
or on any Claim related to directors and officers insurance, Claims under any
Organizational Documents, customary travel, business and relocation expenses,
salary and accrued bonus, Benefit Plans, and other ordinary course employee
benefits or reimbursement obligations of the Company. In addition to the
foregoing, (a) Alan Smith and Barry Banducci hereby acknowledge and agree that
their respective consulting agreements with the Company shall terminate
effective as of the Closing and none of the Company nor any of its Affiliates
will have any further obligation under such agreement or arrangement from and
after the Closing and (b) Gerard Brink acknowledges and agrees that any right to
any consulting fee for serving as a non-executive director of any of the Company
or any of its Subsidiaries shall terminate effective as of the Closing and none
of the Company nor any of its Affiliates will have any further obligation under
such agreements or arrangements from and after the Closing. Each of Messrs.
Gerard Brink, Smith and Banducci waive all notices required under their
respective consulting agreements and arrangements with respect to such
terminations.

          Section 6.14  CONFIDENTIALITY. From and after the Closing, each Seller
will, and will cause its Controlled Affiliates to, keep confidential all
information relating to the Business, except as specifically and only to the
extent required by applicable Law; it being understood that: (a) such Seller
will notify Buyer and the Company in writing at least five Business Days prior
to any proposed disclosure of such nonpublic information to any third party in
order to enable Buyer or the Company to seek an appropriate protective order;
and (b) no Seller shall be required to keep confidential and may disclose any
information which (i) is or becomes publicly available other than as a result of
a disclosure by such Seller in breach of this Agreement or (ii) was known to the
party receiving such information prior to the receipt thereof other than as a
result of a disclosure by any Seller in breach of this Agreement; PROVIDED,
HOWEVER, that to the extent that JP Morgan or any of its Affiliates enters into
any agreement or instrument imposing confidentiality obligations on JP Morgan or
any such Affiliate with the Buyer or any of its Subsidiaries in connection with
the provision on or after Closing of senior or subordinated debt financing by JP
Morgan or such Affiliate to the Buyer or any of its Subsidiaries, then the
confidentiality provision of such lending agreement or instrument shall control.
To the extent any Seller has a confidentiality obligation under the provisions
of the Employment Agreement such Seller is entering into in accordance with this
Agreement, the Employment Agreement of such Seller shall control.
Notwithstanding the foregoing, the announcement, description or discussion of
the Transaction and any related matters required to be disclosed in any public
filing shall not be subject to the requirements of this Section 6.15, but shall
be subject to Section 8.4. Notwithstanding anything to the contrary herein, the
parties hereto each authorize each other to disclose the structure and tax
aspects of the Transaction to the extent required by Section 6011 of the Code
and the treasury regulations thereunder in order to

                                       52
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avoid the Transaction being deemed to be a "CONFIDENTIAL TRANSACTION" as defined
in such treasury regulations.

          Section 6.15  WAIVER. The Company and each Seller, effective as of the
Closing, waives all terms of, and requirements (including notices) under, the
Company's Organizational Documents, including notices relating to this
Agreement, the Principal Documents and the transactions contemplated hereby and
thereby, to the extent necessary to execute, deliver and perform their
respective obligations pursuant to this Agreement and the Principal Documents
and consents to all actions taken by the parties hereto in connection with the
transactions contemplated hereby and thereby. A copy of this Agreement (or an
excerpt containing this provision) may be filed in the books and records of the
Company to evidence such consents and waivers.

                                   ARTICLE VII

                             COVENANTS OF THE BUYER

          Section 7.1   EQUITY PLANS. The Buyer shall reserve for issuance to
employees of the Buyer and its Subsidiaries under an option plan or restricted
unit plan equity interests of the Buyer representing 8% of the Common Units of
the Buyer issued and outstanding as of the Closing Date (after giving effect to
the full equity investment by CHPIV and its Affiliates to consummate the
Transaction and to pay all fees and expenses associated therewith, whether
funded at or following Closing), all of which interests shall be subject to a
Unit Vesting Repurchase Agreement.

          Section 7.2   9 3/4% NOTES. The Company and the Buyer shall cooperate
in effecting a covenant defeasance under Article IX of the Indenture of the 9
3/4% Notes at Closing and subsequent redemption of the 9 3/4% Notes using the
funds held to effect such covenant defeasance, all in accordance with applicable
Law and the Indenture. The Buyer shall be solely responsible for providing the
funds sufficient to effect such defeasance and redemption and the Buyer or its
counsel shall prepare for execution by the Company or the relevant Subsidiaries
of the Company all documents and instruments necessary to effect the defeasance
and redemption. The Sellers shall have no liability or obligations in respect of
the 9 3/4% Notes after the Closing.

          Section 7.3   FRENCH FACILITY DISPOSITION. If the Buyer or any of its
Subsidiaries receives after Closing, without duplication, any of the
EURO 100,000 of the deferred portion of the Net Disposition Proceeds currently
held in escrow or a restricted account of the Company or any of its Subsidiaries
in respect of the French Facility Disposition, the Buyer shall pay the Sellers
(pro rata in accordance with each Sellers' Percentage Interest) an amount equal
to 50% of such deferred portion to the extent such deferred amount constitutes
Net Disposition Proceeds. If any portion of such deferred proceeds from the
French Facility Disposition is received after Closing and prior to the date on
which any payment is due under Section 2.3(c) hereof, then the amount of such
payment shall, to the extent that it constitutes Net Disposition Proceeds,
either offset the amount of any such payment due to the Buyer under Section
2.3(c) or be added to any payment due to the Sellers under Section 2.3(c). If
any portion of such deferred proceeds from the French Facility Disposition is
received after the date on which payment is due, if any, under Section 2.3(c)
hereof, then such payment shall be made within three Business Days

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of the receipt of such proceeds by the Buyer or the relevant Subsidiary to the
Sellers (pro rata in accordance with each Sellers' Percentage Interest) in
immediately available funds to an account designated in writing by the Sellers'
Representative to the Buyer.

          Section 7.4   RANKING OF NOTES.

          (a)     The Buyer agrees to add as issuers or guarantors ("NEW
OBLIGORS") to the Promissory Notes and any Contingent Payment Notes, any new
issuers and guarantors under any Indebtedness for borrowed money owing under the
Senior Subordinated Loan Document (as defined in the Promissory Notes) in effect
from time to time and under any unsecured Indebtedness for borrowed money
incurred by the Buyer and/or any of its Subsidiaries in effect from time to time
(other than any intercompany Indebtedness) after the date of issuance of the
Promissory Notes, the obligations of which New Obligors shall be subordinated on
the same basis as the obligations of the issuers and guarantors under the
Promissory Notes and any Contingent Payment Notes are subordinated pursuant to
the Promissory Notes, the Contingent Payment Notes and the Subordinated
Guarantee, as applicable, as of the date hereof; PROVIDED, HOWEVER, that the
obligation to add New Obligors after the date of issuance of the Promissory
Notes shall not apply to any proposed new issuer or guarantor (a) as to which
the Buyer has delivered an opinion of counsel to the Sellers' Representative,
reasonably acceptable to Sellers' Representative, to the effect that adding such
issuer or guarantor under the Promissory Notes and any Contingent Payment Notes
would result in a violation of applicable Law, which in the case of an issuer or
guarantor organized under the laws of the United States shall be limited to a
violation of Law that would not have been a violation of Law on the Closing Date
(it being understood and agreed that the issuance of the Promissory Notes by the
Promissory Note Obligors and the granting of the Subordinated Guarantee in
respect of the Promissory Notes by the CHP IV Bridge Note Guarantors does not
violate any Law as in effect on the Closing Date), (b) that would be required to
be added solely as a result of Indebtedness incurred solely by issuers organized
outside of the United States except to the extent that such obligor guarantees
or otherwise becomes liable in respect to Indebtedness of the Buyer or any of
its Subsidiaries that are organized under the laws of the United States or (c)
to the extent adding such New Obligor which is organized under the Laws of any
jurisdiction outside of the United States would violate any Buyer Credit
Agreement. The Buyer agrees not to make any of its Subsidiaries organized
outside the United States an obligor or guarantor under any unsecured facility
whereby any of it or its Subsidiaries organized in the United States is
primarily obligated unless such obligor or guarantor is added as a New Obligor
under the Promissory Notes and any Contingent Payment Note.

          (b)     The Buyer shall cause any New Obligor which is to become an
issuer of the Promissory Notes and Contingent Payment Notes to execute and
deliver an allonge to such Promissory Notes and Contingent Payment Notes upon
such issuer or guarantor becoming a New Obligor and any New Obligor which is to
become a guarantor of the Promissory Notes and Contingent Payment Notes to
execute and deliver a Subordinated Guarantee (the "SUBORDINATED GUARANTEE"), in
the form of Exhibit M upon such issuer or guarantor becoming a New Obligor.

          (c)     The Buyer shall determine, in its sole discretion whether any
Person who will be added as a New Obligor will be added as an issuer or
guarantor.

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          Section 7.5   POST-CLOSING NOTIFICATIONS. The Buyer agrees that it
shall, to the extent and in the manner required by applicable Law, cause the
Company or one of its Subsidiaries to make a filing after the Closing with the
French Workers' Council and under the Investment Canada Act, in each case
concerning the Transaction.

          Section 7.6   ADDITIONAL INDEBTEDNESS. So long as any Promissory Note
or Contingent Payment Note remains outstanding, the Buyer shall not and shall
not permit any of its Subsidiaries that is an obligor or guarantor under the
Promissory Notes or any Contingent Payment Note to, directly or indirectly,
create, incur, issue, assume, guarantee or suffer to exist any Indebtedness
which is both subordinate and junior in right of payment to the most junior of
any Senior Indebtedness (as defined in the Promissory Notes) outstanding on the
Closing Date or hereafter incurred and senior in right of payment to the
Promissory Notes and any Contingent Payment Notes.

          Section 7.7   REDEMPTION. So long as any Promissory Note or Contingent
Payment Note remains outstanding, the Buyer shall not and shall not permit any
of its Subsidiaries to redeem or purchase any of the equity interests of the
Buyer other than such interests held by current or former employees of the Buyer
or any of its Subsidiaries, except to the extent that contemporaneously with any
such redemption the Buyer causes the Promissory Note Obligors to prepay, on a
pro rata basis, a percentage of the then outstanding principal of each
Promissory Note and any Contingent Payment Note and accrued and unpaid interest
thereon equal to the percentage of the issued and outstanding equity interests
of the Buyer held by the holder of such equity interests so redeemed.

          Section 7.8   AFFILIATE TRANSACTIONS. So long as any Promissory Note
or Contingent Payment Note remains outstanding, the Buyer shall not and shall
not permit any of its Subsidiaries to, directly or indirectly, conduct any
business or enter into any transaction or series of similar transactions with
any Affiliate thereof unless the terms thereof are as favorable to the Buyer or
the relevant Subsidiary of the Buyer in all material respects, as terms that
would be obtainable at the time for a comparable transaction or series of
similar transactions in arm's length dealings with a Person which is not an
Affiliate; provided, however, that the restrictions set forth in this Section
7.8 shall not apply to (a) the Management Agreement, (b) to the issuance of any
equity securities (or securities convertible into or exerciseable or
exchangeable for equity securities of the Buyer or any of its Subsidiaries) by
the Buyer or any of its Subsidiaries (including any Indebtedness that is
convertible or exerciseable into or exchangeable for equity of any of the Buyer
or any of its Subsidiaries under any Financing Document), (c) any transaction
among the Buyer and its Subsidiaries, (d) any employment arrangements with any
employee of the Buyer and/or any of its Subsidiaries and (e) or any agreement,
event or transaction to effect the Transaction, including the provision of debt
and equity financing or the payment of any fees, expenses or costs associated
with effecting the Transaction. Solely for purposes of this Section 7.8, the
definition of "Affiliate" shall have the meaning ascribed thereto in the
Promissory Notes.

          Section 7.9   MANAGEMENT AND ADVISORY FEES. During any period in which
principal or interest is overdue under any Promissory Note or Contingent Payment
Note, the Buyer shall not and shall not permit any of its Subsidiaries to make
any payment of management, advisory or similar fees to any member of the Castle
Harlan Group including, but not limited to, any fees associated with the
Management Agreement or otherwise.

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                                  ARTICLE VIII

                     COVENANTS OF THE BUYER AND THE SELLERS

          The parties hereto agree that:

          Section 8.1   NOTICES OF CERTAIN EVENTS. Each of the Buyer and the
Sellers shall promptly notify the other in writing following the receipt of any
notice or other communication from any Governmental Entity or any Person in
connection with the transactions contemplated hereby or of any fact, change in
condition, circumstance, action, suit, claim or proceeding commenced, or to its
knowledge threatened, against it which relates to or seeks to prohibit the
consummation of the transactions contemplated hereby or in any breach of a
representation, warranty or covenant or which could reasonably be anticipated to
have the effect of making any of the representations and warranties false or
misleading in any respect.

          Section 8.2   RESERVED.

          Section 8.3   RESERVED.

          Section 8.4   PUBLIC ANNOUNCEMENT. The Buyer, the Company and the
Sellers' Representative shall consult with each other before issuing any press
release or making any public statement or filing with respect to the Transaction
and, except as may be required by applicable Law or any listing agreement with
any securities exchange (in which case the party required to make the release or
statement shall allow the other party reasonable time to comment on such release
or statement in advance of such issuance), shall not issue any such press
release or make any such public statement unless the text of such statement
shall first have been reasonably agreed to by the parties (not to be
unreasonably withheld or delayed).

          Section 8.5   FILING OF RETURNS AND PAYMENT OF TAXES. (a) The Sellers
shall, at their own expense, timely prepare and file with the appropriate Tax
Authorities all Tax Returns of the Company (but not its Subsidiaries) that
relate to any Pre-Closing Period of the Company, and the Sellers shall timely
pay all Pre-Closing Taxes due with respect to such Tax Returns, except in each
case (i) to the extent that any Pre-Closing Taxes were (or will be) treated as a
liability in the determination of the Final Adjusted Working Capital and (ii)
for any Buyer Taxes. The Buyer shall at its own expense, timely prepare and file
with the appropriate Tax Authorities all Tax Returns of the Company, each other
Subsidiary of the Buyer and each Affiliated Group not required to be prepared
and filed by the Sellers. The Buyer shall timely pay all Taxes due with respect
to the Tax Returns not filed by the Sellers. For any Tax Return not filed by the
Sellers in respect of any Pre-Closing Period or any Straddle Period, (i) the
Buyer shall prepare such Tax Returns on a basis consistent with the practices of
the Company or its Subsidiaries prior to the Closing, as applicable, (ii) the
Buyer shall furnish such Tax Return to the Sellers' Representative for its
approval and consent to file (which approval and consent shall not be
unreasonably withheld or delayed) at least 30 days prior to the due date for
filing such Tax Returns, and, if such Tax Return relates to a Straddle Period,
such Tax Return shall be accompanied by a calculation of the portion of any Tax
due in respect of the period covered by such Tax Return that constitutes an
Interim Period Tax and (iii) the Sellers shall pay to the Buyer (pro rata in
accordance with each Seller's Percentage Interest in accordance with
Section 8.7(b)),

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the amount of Tax determined to be due by reason of the approval of such amount
by the Sellers' Representative or by resolution by the Independent Auditor, as
described below, in connection with filing such Tax Returns (in the case of a
Tax Return relating to a Pre-Closing Period) or the amount of Interim Period Tax
due in connection with filing such Tax Return (in the case of a Tax Return
relating to a Straddle Period), other than Buyer Taxes, at least one Business
Day prior to such due date except to the extent that such Tax was included as a
liability in the determination of Final Adjusted Working Capital. If Sellers'
Representative objects to any Tax Return or any calculation of Interim Period
Taxes provided by Buyer pursuant to the preceding sentence, it shall deliver a
written notice to Buyer specifying in reasonable detail the nature of any
objection not less than 10 days prior to the due date of such Tax Return. If
Buyer and Sellers' Representative are unable to resolve all such objections
within 10 days, any remaining dispute will be submitted to the Independent
Auditor for resolution. In the event that the Independent Auditor resolves all
disputes presented to it entirely in the manner proposed by the Buyer or the
Seller's Representative, as the case may be, the fees and expenses of the
Independent Auditor and, in the event the dispute resolution process results in
any Tax Return not being filed in a timely manner, any penalties and interest
resulting from the late filing, shall be paid by the other party (with respect
to the Sellers, pro rata in accordance with their Percentage Interests in
accordance with Section 8.7(b)). In all other events, the fees and expenses of
the Independent Auditor shall be shared (with respect to the Sellers, pro rata
in accordance with their Percentage Interests in accordance with Section 8.7(b))
in the same proportion that the Sellers' Representative position, on the one
hand, and the Buyer's position, on the other hand, initially presented to the
Independent Auditor bears to the final resolution as determined by the
Independent Auditor. To the extent allowable under the relevant Tax laws in each
jurisdiction in which a Tax Return must be filed, the Sellers and the Buyer
agree to cause the Company and each Subsidiary of the Company as of immediately
prior to the Closing and without giving effect to the Brink Acquisition or the
Ancillary Transactions to close its books for Tax purposes and to file any Tax
Returns in a manner that does not give rise to a Straddle Period.

          (b)     The Sellers, the Company and the Buyer shall reasonably
cooperate, and shall cause their respective Affiliates reasonably to cooperate,
in preparing and filing all Tax Returns and making or consenting to all
appropriate claims and elections, including maintaining and making available to
each other all records necessary in connection with all Taxable Periods. The
Buyer and the Sellers recognize that the Sellers will need access, from time to
time, after the Closing Date, to certain accounting and Tax records and
information held by the Buyer and its Subsidiaries to the extent such records
and information pertain to events occurring prior to the Closing Date. Without
limiting Section 6.4, the Buyer agrees, and agrees to cause its Subsidiaries
after the Closing Date, (i) to retain and maintain such records in accordance
with its practice for maintaining Tax records in respect of Taxable Periods in
respect of which it is responsible for any Tax liability arising herein, and
(ii) to allow the Sellers and their agents and representatives (and agents or
representatives of any of their Affiliates), at times and dates mutually
acceptable to the parties, to inspect, review and make or arrange to make copies
of such records as the Sellers reasonably deem necessary or appropriate from
time to time, such activities to be conducted during normal business hours and
at the Sellers' expense.

          Section 8.6   TAX REFUNDS. Except for input tax credits received or
receivable by the Company and its Subsidiaries pursuant to Part IX of the Excise
Tax Act (Canada) or equivalent provincial legislation, any Tax refunds, or the
amount of any credits to the tax liability

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of the Buyer or any of its Subsidiaries ("TAX ASSET") or portions of Tax Assets,
that are received by the Buyer, by the Company or by any other Subsidiary of the
Buyer, and that relate to Pre-Closing Periods or Interim Periods of the Company
or any of the Buyer's other Subsidiaries shall be paid to the Sellers'
Representative (who shall distribute such amount to the Sellers pro rata in
accordance with their Percentage Interests) except to the extent any such refund
was treated as an asset in the determination of Final Adjusted Working Capital.
The Buyer shall, if the Sellers so request and at the Sellers' expense, file or
cause the Company or any other Subsidiary of the Buyer to file for and obtain
any amounts to which the Sellers are entitled under this Section 8.6. The Buyer
shall permit the Sellers to control the prosecution of any such refund claim
and, where reasonably requested by such Sellers, shall authorize or cause one or
more of its Subsidiaries to authorize by appropriate powers of attorney such
persons as such Sellers shall designate to represent such Subsidiary of the
Buyer with respect to such refund claim; PROVIDED, that Sellers shall pay and
indemnify and hold the Buyer and its Affiliates harmless from and against any
Tax for which the Buyer or its Affiliates are not otherwise indemnified
hereunder and that would not have been incurred but for the prosecution of such
claim. The Buyer shall pay over to the Sellers' Representative (who shall
distribute such amount to the Sellers pro rata in accordance with their
Percentage Interests) any such refund amounts, plus any interest actually
received with respect to such refund, net of any liability of the Buyer or any
Subsidiary of the Buyer for Taxes attributable to such refund and any
out-of-pocket fees and expenses incurred by the Buyer or any Affiliate thereof
in connection with securing or obtaining such refund, and any other amount due
from Sellers under this Agreement within five (5) days after receipt thereof by
the Buyer, the Company or any other Subsidiary of the Buyer.

          Section 8.7   TRANSFER TAXES.

          (a)     All transfer, documentary, sales, use, registration and other
such Taxes, and any penalties, interest and additions to such Taxes, that are
incurred in connection with this Agreement and the transactions contemplated
hereby shall be paid one-half by the Buyer and one-half by the Sellers (pro rata
in accordance with their Percentage Interests in accordance with Section
8.7(b)). The Buyer and the Sellers shall be jointly responsible for the filing
of all returns, reports and forms that may be required in connection therewith
(including expenses incurred to prepare such returns, reports and forms).

          (b)     In the case of any payment from the Sellers to the Buyer under
Sections 8.5, 8.6, or 8.7, the Buyer and the Sellers agree that such payment
shall be applied first against the available funds held in escrow under the
Escrow Agreement. In such case, the Buyer and the Seller's Representative shall
deliver a joint written instruction to the escrow agent under the Escrow
Agreement within two Business Days of the final determination made under such
sections to distribute such funds to the Buyer.

          Section 8.8   NOTICE OF AUDIT. If either party hereto receives any
written notice from any Taxing Authority proposing an adjustment to any Tax for
which any other party hereto may be obligated to indemnify under this Agreement,
such party shall give prompt written notice thereof to the other that describes
such proposed adjustment in reasonable detail.

          Section 8.9   DIRECTORS' AND OFFICERS' INDEMNIFICATION.

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                  (a)   The provisions of the Organizational Documents of the
Company and each of the Subsidiaries, as of immediately prior to the Closing
Date concerning the limitation or elimination of liability and indemnification
of directors and officers shall not be amended in any manner that would
adversely affect the rights thereunder of any Person that is as of the day
immediately prior to the Closing Date an officer or director of the Company or
of any such Subsidiary. In addition to the foregoing, from and after the Closing
Date, the Buyer shall indemnify, hold harmless and defend each person who is a
current or former officer or director of the Company or any of its Subsidiaries
against all Losses or expenses (including attorneys' fees) arising out of or
relating to acts or omissions (or alleged acts or omissions) by them in their
capacities as such, which acts or omissions occurred at or prior to the Closing.
To the maximum extent permitted by applicable Law, the indemnification and
related rights hereunder shall be mandatory rather than permissive, and the
Buyer shall promptly advance expenses in connection with such indemnification to
the fullest extent permitted under applicable Law.

                  (b)   For a period of six years commencing from the Closing
Date, the Buyer shall maintain officers' and directors' liability insurance
covering the persons who are as of the date immediately prior to the Closing
Date covered by the Company's (and any Subsidiary's) officers' and directors'
liability insurance policies with respect to actions and omissions occurring
prior to the Closing Date, on terms which are no less favorable to such persons
than the terms of such current insurance in effect by the Company and its
Subsidiaries on the date hereof; PROVIDED, HOWEVER, that in no event shall the
Buyer or any of its Subsidiaries be obligated to pay aggregate annual premiums
greater than 200% of the aggregate annual premiums paid or payable for the 2002
calendar year; PROVIDED, FURTHER, that if the aggregate annual premium for such
coverage and amount of insurance would exceed 200% of such annual rate, the
Company and/or one more of the other Subsidiaries of the Buyer shall provide the
greatest coverage which shall then be available at an aggregate annual premium
equal to 200% of such rate.

                  (c)   The provisions of this Section are (i) intended to be
for the benefit of each Person entitled to indemnification hereunder, and each
such Person's heirs, legatees, representatives, successors and assigns, and (ii)
in addition to, and not in substitution for, any other rights to indemnification
or contribution that any such Person may have by contract or otherwise.

          Section 8.10  GIBBS LITIGATION PROCEDURES.

          (a)     COLLATERAL FOR GIBBS LITIGATION OBLIGATION.

                  (i)   COLLATERALIZING GIBBS LETTER OF CREDIT. On the Closing
     Date, the Sellers shall cash collateralize the existing letter of credit
     issued in connection with the Gibbs Litigation (as may be modified,
     substituted or replaced in accordance with the terms of this Section 8.10,
     the "GIBBS LETTER OF CREDIT") for an amount equal to $9,000,000. Such
     amount shall be deposited by the Buyer on the Closing Date in accordance
     with Section 2.2(d)(ii), on behalf of Gibbs/AAS, LLC, a Delaware limited
     liability company, all of the fully-diluted equity interests of which are
     owned directly by the Sellers ("GIBBS LLC"), with the Cash Collateral Bank
     in a corporate trust account in the name and under the sole dominion and
     control of Gibbs LLC (the "GIBBS CASH

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     COLLATERAL ACCOUNT"). The Gibbs Cash Collateral Account shall be held by
     the Cash Collateral Bank subject to the terms of an escrow agreement, dated
     as of the date hereof, among the Cash Collateral Bank, the Buyer and Gibbs
     LLC, in the form attached hereto as Exhibit N (the "GIBBS ESCROW
     AGREEMENT"). The Gibbs Escrow Agreement and all other agreements and
     instruments governing the Gibbs Cash Collateral Account shall be in form
     and substance reasonably satisfactory to the Buyer and the Sellers'
     Representative.

                  (ii)  CONTINUING SECURITY FOR GIBBS LITIGATION. The Gibbs Cash
     Collateral Account and any other cash or other security established to
     secure the Gibbs Letter of Credit in accordance with Section 8.l0 and the
     obligations of the Sellers to indemnify the Buyer and its Affiliates for
     all Losses arising from the Gibbs Litigation in accordance with the terms
     hereof shall be treated as follows:

                              (A)  In the event that a court of competent
jurisdiction issues a final non-appealable order (x) that mandates an increase
in the face amount of the Gibbs Letter of Credit, then the Buyer and the
Sellers' Representative shall cooperate in making documentary and other
administrative arrangements with the Cash Collateral Bank to increase the face
amount of the Gibbs Letter of Credit and each Seller shall promptly in
compliance with any determination of such court make a payment (pro rata in
accordance with each Sellers' Percentage Interest) to the Gibbs Cash Collateral
Account of the increased amount required by such court plus the out-of-pocket
fees and expenses of the Buyer and its Affiliates associated with compliance
with this clause (x) or (y) that the Gibbs Letter of Credit may be reduced, then
the Buyer and the Sellers' Representative shall use commercially reasonable
efforts to cause the Cash Collateral Bank to reduce the face amount of the Gibbs
Letter of Credit and to reduce by a corresponding amount the amounts held in the
Gibbs Cash Collateral Account by the amount provided in such order and
distribute the same to Gibbs LLC, less any amount of Losses incurred by the
Buyer and its Affiliates that had not been previously paid or reimbursed by the
Sellers, which amount shall be distributed to the Company concurrently with the
distribution to Gibbs LLC.

                              (B)  In the event at any time the Gibbs Letter of
Credit expires by its terms and any form of security continues to be required to
be posted by the Company to permit the continued appeal of the Gibbs Litigation,
the Buyer and the Sellers' Representative shall either extend the then existing
Gibbs Letter of Credit or replace or substitute the Gibbs Letter of Credit with
a new letter of credit issued by another financial institution reasonably
acceptable to the Buyer and Sellers' Representative; PROVIDED substantially the
same security arrangements and other escrow arrangements provided to the Cash
Collateral Bank and the Buyer with respect to the Gibbs Collateral Account on
the Closing Date shall be in effect with respect to any such replacement letter
of credit or other form of security.

                              (C)  If at any time no form of security or bond is
required to be posted by the Company (including, without limitation, in
connection with any remand or further appeal of the Gibbs Litigation) in
connection with the Gibbs Litigation and at such time the Gibbs Litigation has
not been finally resolved pursuant to a final non-appealable judgment of a court
of competent jurisdiction or by a final settlement of the Gibbs Litigation in
accordance with Section 8.10(b), the Buyer and the Sellers' Representative shall
cause an amount

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of cash remaining in the Gibbs Cash Collateral Account equal to the full amount
then remaining in dispute by the defendants/cross appellees in the Gibbs
Litigation at such time (including attorneys' fees claimed by such
defendants/cross appellees and pre and post judgment interest), together with
the costs, fees and expenses (including the Company's attorneys' fees) estimated
to be incurred in connection with further proceedings in the Gibbs Litigation,
as agreed upon in good faith by the Buyer and the Sellers' Representative, to be
deposited in an account of the Cash Collateral Bank, as escrow agent, to be held
in escrow pursuant to an escrow agreement with provisions that, subject to the
different purposes therefor, are substantially the same as the Escrow Agreement
(the "NEW GIBBS ESCROW AGREEMENT"). Without limiting the foregoing, the New
Gibbs Escrow Agreement shall provide that, other than the payment of fees,
expenses and costs of the escrow agent, (i) the cash so deposited shall be used
solely to pay or reimburse the Buyer and its Affiliates for any Losses arising
from the Gibbs Litigation, (ii) the cash so deposited may not be used for any
other purpose, by way of set-off or otherwise to satisfy any other obligations
of the Sellers to the Buyer and its Affiliates under this Agreement or the
Principal Documents and (iii) the term of the Gibbs Escrow Agreement shall
expire only after the Gibbs Litigation has been finally resolved pursuant to a
final non-appealable judgment of a court of competent jurisdiction or by a final
settlement of the Gibbs Litigation in accordance with Section 8.10(b) and all
Losses arising from the Gibbs Litigation have been paid by the Sellers or
reimbursed by the Sellers to the Buyer and its Affiliates. The balance of the
funds from the Gibbs Cash Collateral Account that have not been deposited into
escrow pursuant to this Section 8.10(a)(ii)(C) shall be distributed to Gibbs
LLC. In the event the Cash Collateral Bank is unwilling to serve as escrow agent
or to use the form of Escrow Agreement, as modified hereby, for such purpose,
the escrow agent shall be US Bank or such other financial institution reasonably
acceptable to the Buyer and the Sellers' Representative that agrees to serve in
such capacity and to use the form of Escrow Agreement, as so modified.

                              (D)  Subject to Section 8.10(a)(ii)(C), the
Sellers' Representative shall have the right to modify, substitute or replace
the Gibbs Letter of Credit upon the entry of a final, non-appealable order of a
court of competent jurisdiction specifically and expressly authorizing such
modification, substitution or replacement and so long as such modification,
substitution or replacement does not (i) reduce the Gibbs Letter of Credit, as
so modified, substituted or replaced, to an amount less than the judgment
(including attorneys' fees claimed by the defendants/cross appellees) entered in
the Gibbs Litigation, plus the amount of accrued pre-judgment and post-judgment
interest, as in effect from time to time, through the date of modification,
substitution or replacement, (ii) affect the obligations of the Sellers to be
responsible for all Losses arising in connection with the Gibbs Litigation or
(iii) violate any of the other provisions of this Section 8.10.

                              (E)  Any release of funds from the Gibbs Cash
Collateral Account , from the Gibbs Escrow Agreement or from any other source
designed to secure the Sellers' obligations to the Buyer and its Affiliates
arising from the Gibbs Litigation shall not, and shall not be deemed to,
constitute a release of the Sellers' indemnification obligations under Section
9.2(a)(iii).

                              (F)  The Buyer and the Sellers' Representative
shall cooperate to cause the Cash Collateral Bank (or any other financial
institution issuing a replacement or substitute to the Gibbs Letter of Credit)
to be granted a first priority perfected

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security interest in the Gibbs Cash Collateral Account (or any comparable
account established for the benefit of any financial institution issuing the
Gibbs Letter of Credit) to secure the obligation of Gibbs LLC to satisfy any
draw on the Gibbs Letter of Credit.

                              (G)  The Buyer and the Sellers' Representative
agree that they have not permitted and shall not permit, and the Sellers'
Representative agrees that it has not permitted and shall not permit Gibbs LLC,
the Gibbs Cash Collateral Account or any other security for the Sellers'
obligations in respect of the Gibbs Litigation to be subject to any Lien other
than as provided in the immediately preceding clause (F), by operation of Law or
in favor of the Buyer or any of its Affiliates. For the avoidance of doubt, in
no event shall the Gibbs Cash Collateral Account or any other security for the
Sellers' obligations in respect of the Gibbs Litigation be the subject of a Lien
in favor of the holders of Indebtedness of the Buyer or any of its Affiliates.

                              (H)  Sellers shall not permit any Lien to exist on
any of the equity interests or assets of Gibbs LLC, except as provided in
Section 8.10(a)(i) or by operation of Law, and shall not permit Gibbs LLC to
assign, directly or indirectly, any of its rights under any agreement or
instrument governing or relating to the Gibbs Cash Collateral Account or any
other form or security established to secure the Sellers' obligations with
respect to the Gibbs Litigation.

          (b)     ADMINISTRATION. The Sellers' Representative shall control and
direct the defense (including any appeal of the trial court's judgment) of the
Gibbs Litigation, agree to a settlement or abandon the appeal thereof, at the
sole cost and expense of the Sellers; PROVIDED, HOWEVER, that none of the Buyer
nor any of its Subsidiaries shall be required to take (or refrain from taking)
any action in connection with the Gibbs Litigation if the Buyer reasonably
believes that taking (or refraining from taking) such action would cause (i) the
Buyer, the Company or any of their respective Subsidiaries to incur any fee,
cost or expense against which the Buyer and its Affiliates are indemnified
pursuant to Section 9.2(a)(iii) hereof that would not be reimbursed by the
Sellers through a cash payment or drawdown on the Gibbs Letter of Credit or
otherwise, (ii) without the consent of the Buyer (which consent shall not be
unreasonably withheld or delayed), any harm to the Buyer or any of its
Subsidiaries or any of their respective employees, members, shareholders,
customers or suppliers. In addition, the Seller's Representative shall not be
entitled to agree to any settlement of the Gibbs Litigation, on behalf of the
Company, without the Buyer's consent, that would (x) not result in a full,
complete and unconditional release of the Company, its Subsidiaries and such
Affiliates, employees, officers, directors and other representatives of the
Company and its Subsidiaries, in each case before giving effect to the
Transaction, as are customary for releases granted in comparable circumstances
or (y) impose any condition, obligation, limitation or restriction on the
business, assets or operations of the Buyer, any of its Subsidiaries or any of
their respective employees, members, shareholders, customers or suppliers.
Notwithstanding the foregoing provisions of this Section 8.10(b), neither the
Buyer nor any of its Subsidiaries (A) shall settle the Gibbs Litigation or (B)
except as provided in Section 8.10(a), take any action with respect to the Gibbs
Litigation that is not required by applicable Law, in each case without the
prior written consent of the Sellers' Representative.

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          Section 8.11  CZECH COMPETITION ACT FILING. The Buyer undertakes not
to determine and/or influence the competitive behaviour of SportRack, s.r.o.
("SPORTRACK CZECH"), in particular by the execution of voting rights attached to
the holding of interests, shares or co-operative member's shares or otherwise
acquired control, prior to date on which approval of the concentration by the
Czech Antitrust Office takes effect (the "CZECH APPROVAL"). The Buyer shall use
its best efforts after Closing, to ensure that, until the Czech Approval is
obtained, SportRack Czech will continue to conduct its business in the ordinary
course consistent with past practice and will refrain from any activity that is
intended to result in a material decrease in the value of SportRack Czech or in
a material deterioration of the market position of SportRack Czech.

                                   ARTICLE IX

                          SURVIVAL AND INDEMNIFICATION

          Section 9.1   SURVIVAL OF REPRESENTATIONS AND WARRANTIES. The
representations and warranties in this Agreement (a) set forth in Sections 3.1,
3.2, 4.2, 4.3, 4A.1, 5.1 and 5.2 shall survive the Closing indefinitely, (b) set
forth in Sections 4.10 and 4.13 shall survive the Closing until the fourth
anniversary of the Closing Date, and (c) set forth in any other section of this
Agreement, shall survive the Closing until June 30, 2004. The indemnification
hereunder with respect to the matters identified (i) in clauses (a), (c) and (d)
of the Seller Scheduled Indemnifiable Liabilities shall survive the Closing
until the fourth anniversary of the Closing Date, (ii) in clause (b) of the
Seller Scheduled Indemnifiable Liabilities shall survive the Closing until the
sixth anniversary of the Closing Date and (iii) in the Buyer Scheduled
Indemnifiable Liabilities shall survive the Closing indefinitely.
Notwithstanding anything herein to the contrary, no limitation under this
Section 9.1 shall preclude any claim for any matter as to which any Indemnified
Party has provided written notice (together with an explanation of the alleged
breach and the circumstances thereof) to the Indemnifying Party on or before the
expiration of the survival period specified herein.

          Section 9.2   INDEMNIFICATION BY THE SELLERS.

          (a)     REPRESENTATIONS AND WARRANTIES RELATING TO THE COMPANY.
Subject to the limitations set forth in this Agreement, each Seller shall,
severally and not jointly, in accordance with his, her or its Percentage
Interest, indemnify and hold harmless the Buyer and its Affiliates from and
against any and all claims, losses, damages, liabilities, deficiencies,
obligations or expenses; but, for the avoidance of doubt (x) excluding claims
for punitive damages, lost profits or any claim based upon any multiplier of the
Company's earnings before interest, tax, depreciation or amortization (including
any deficiency in Adjusted Consolidated EBITDA) or any similar valuation metric,
of the Company or any of its Subsidiaries and (y) including incidental and
consequential damages and reasonable third-party legal fees and expenses
(collectively, "LOSSES"), to the extent arising or resulting from any of the
following: (i) any breach or inaccuracy of any representation or warranty made
by the Company in Article IV of this Agreement or in any officer's certificate
delivered by the Company to the Buyer for purposes of consummation of the
Transaction at or prior to the Closing (other than pursuant to Section 10.3(m)
hereof), (ii) any breach prior to the Closing of any covenant made by the
Company in this Agreement, (iii) any Losses directly arising from or related to
the Gibbs Litigation, (iv) any

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Losses directly arising from or related to the G3.0 Model Recall, (v) any Losses
directly arising from or related to the Seller Scheduled Indemnifiable
Liabilities and (vi) one-half of any Tax imposed on AAS Holdings in respect of
the Brink Acquisition pursuant to Section 2.1(b) hereof, it being agreed that
for purposes of calculating such Tax, the aggregate adjusted Tax basis of AAS
Holdings in the Brink Securities shall be equal to the Brink Equity
Consideration.

          (b)     REPRESENTATIONS AND WARRANTIES RELATING TO THE SELLERS.
Subject to the limitations set forth in this Agreement, each Seller shall
indemnify and hold harmless the Buyer and its Affiliates (including, from and
after the Closing, the Company, SportRack, Brink International and the other
Subsidiaries of the Buyer) from and against any and all Losses, to the extent
arising or resulting from any of the following: (i) any breach or inaccuracy of
any representation or warranty made by such Seller as to such Seller in any
Principal Document or in Articles III and IIIA of this Agreement, (ii) any
breach of any covenant made by such Seller as to such Seller in this Agreement,
in any Principal Document, or in any certificate delivered by such Seller and
(iii) the escrow agent under the Escrow Agreement enforcing against the Buyer
the obligations of such Seller that is a Designated Seller under the Escrow
Agreement.

          Section 9.3   INDEMNIFICATION BY THE BUYER AND THE COMPANY. Subject to
the limitations set forth in this Agreement, the Buyer shall indemnify, defend
and hold harmless the Sellers and their Affiliates from and against any and all
Losses, to the extent arising or resulting from any of the following: (a) any
breach or inaccuracy of any representation or warranty made by the Buyer in this
Agreement, by the Buyer or any of its Subsidiaries in this Agreement or in any
Principal Document or in any officer's certificate delivered by the Buyer at or
prior to the Closing, (b) any breach prior to the Closing of any covenant made
by Buyer in this Agreement or in any Principal Document, (c) any breach of any
covenant to be performed after Closing by the Buyer or any of its Subsidiaries
under this Agreement or in any Principal Document, (d) one-half of any Tax
imposed on AAS Holdings in respect of the Brink Acquisition pursuant to Section
2.1(b) hereof, it being agreed that for purposes of calculating such Tax, the
aggregate adjusted Tax basis of AAS Holdings in the Brink Securities shall be
equal to the Brink Equity Consideration; (e) any Buyer Taxes and any unpaid
Post-Closing Taxes of the Buyer and its Subsidiaries, including, without
limitation, any such Post-Closing Taxes resulting from the repayment of
intercompany debt after the occurrence of the Closing and (f) any Losses
directly arising from or related to the Buyer Scheduled Indemnifiable
Liabilities.

          Section 9.4   INDEMNIFICATION PROCEDURES.

          (a)     Except as otherwise provided in this Agreement, if any party
entitled to indemnification under this Article IX (the "INDEMNIFIED PARTY")
receives written notice of the commencement of any action or proceeding or the
assertion of any claim by a third party or the imposition of any penalty or
assessment for which indemnity may be sought under this Article IX, other than
any such action, proceeding or claim relating to any Tax Claim (a "THIRD PARTY
CLAIM"), and such Indemnified Party intends to seek indemnity pursuant to this
Article IX, the Indemnified Party shall within 10 Business Days provide the
other party which is required to provide indemnification under this Article IX
(the "INDEMNIFYING PARTY") with written notice of such Third Party Claim. The
Indemnifying Party shall be entitled to participate in or, at its, his or her
option, assume the defense, appeal or settlement of such Third Party Claim. Such
defense or settlement shall be conducted through counsel selected by the
Indemnifying Party and

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approved by the Indemnified Party, which approval shall not be unreasonably
withheld or delayed, and the Indemnified Party shall fully cooperate with the
Indemnifying Party in connection therewith. In the event that the Indemnifying
Party fails to assume the defense or settlement of any Third Party Claim within
10 Business Days after receipt of written notice thereof from the Indemnified
Party, the Indemnified Party shall have the right to undertake the defense,
appeal or settlement of such Third Party Claim at the expense and for the
account of the Indemnifying Party.

          (b)     The Indemnifying Party shall not settle any Third Party Claim
the defense or settlement of which is controlled by it without the Indemnified
Party's prior written consent (which consent shall not be unreasonably withheld
or delayed), unless the terms of such settlement or compromise release such
Indemnified Party from any and all liability with respect to such Third Party
Claim and would not result in any Loss for which the Indemnified Party is not
indemnified hereunder. Notwithstanding the foregoing provisions of this Section
9.4, the indemnification procedure for a Tax Claim shall be as set forth in
Section 9.7.

          (c)     Each Indemnified Party shall use commercially reasonable
efforts to, and, in the case of the Buyer, to cause its Subsidiaries to,
cooperate with each Indemnifying Party and its representatives to assist each
such Indemnifying Party and its representatives (at any out of pocket expense of
each such Indemnifying Party) in responding to or defending any Third Party
Claim. Neither party shall directly or indirectly report to any third party
(other than such party's consultants, advisors and representatives or any
counterparty in any transaction where such reporting is customary or advisable)
any matter that could constitute a Claim except for reports (i) to third parties
in the ordinary course of business, (ii) pursuant to any agreement of the Buyer
or any of its Subsidiaries entered into in good faith relating to financings,
including the Buyer Credit Agreements or (iii) that such party believes in good
faith is required to be reported in accordance with applicable Law. The
Indemnified Party shall use commercially reasonable efforts to notify and
consult with the appropriate representative of any Indemnifying Party prior to
making any such report under clause (iii) in the immediately preceding sentence.
For avoidance of doubt, no Indemnifying Party shall be required to indemnify the
Indemnified Party to the extent that any breach (whether by act or omission) of
any provision of this Section 9.4 increases the Indemnifying Party's liability
under this Article IX. If the Buyer or any of its Affiliates shall be an
Indemnified Party, its delivery of any notice or other communication to, or its
consultation or cooperation with, the Sellers' Representative with respect to
any Claim arising under Section 9.2(a) shall satisfy any requirement of the
Buyer or any of its Affiliates to provide notice to, assist, or communicate,
consult or cooperate with, all Indemnifying Parties.

          Section 9.5   ADDITIONAL INDEMNITY PROVISIONS.

          (a)     The Sellers shall not have any liability under
Section 9.2(a)(i) or, subject to Section 9.5(t), Section 9.2(a)(v) unless the
aggregate Losses suffered by the Buyer and its Affiliates under both such
Sections exceeds $1,750,000 (the "THRESHOLD AMOUNT") and then the Sellers shall
be liable for all such Losses without regard to such Threshold Amount;

          (b)     The Buyer shall not have any liability under Section 9.3(a)
unless the aggregate Losses suffered by the Sellers and their Affiliates
thereunder exceeds the Threshold

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Amount and then the Buyer shall be liable for all such Losses without regard to
such Threshold Amount;

          (c)     No Loss arising from any Claim against the Sellers under
Section 9.2(a)(i) or, subject to Section 9.5(t), Section 9.2(a)(v) shall be
applied against or counted toward the Threshold Amount and no Loss arising from
any Claim against any Seller under Section 9.2(b)(i) shall be recoverable unless
such Loss exceeds, in each individual instance, $45,000 (with Losses arising out
of the same or related set of circumstances being aggregated) (the "DE MINIMUS
AMOUNT");

          (d)     No Loss arising from any Claim against the Buyer under
Section 9.3(a) shall be applied against or counted toward the Threshold Amount
unless such Loss exceeds in each individual instance the De Minimus Amount (with
Losses arising out of the same or related set of circumstances being
aggregated);

          (e)     In determining the existence of a breach of a representation
or warranty by any of the Company, the Buyer or the Sellers that would give rise
to an indemnifiable Loss under any of Sections 9.2(a)(i), 9.2(b)(i) or 9.3(a),
all representations and warranties of the Company, the Buyer and the Sellers
shall be read as though they were not qualified by any materiality, Material
Adverse Effect or comparable qualifications set forth in any such representation
or warranty, except for any such qualifications that directly relate to the
scheduling, furnishing or availability of reports, documents or written
agreements;

          (f)     The aggregate liability of Sellers under Section 9.2(a)(i) and
Section 9.2(a)(v) shall not exceed in the aggregate the amounts held under the
Escrow Agreement, the Contingent Payment Amount, to the extent earned or due
(including amounts payable under any Contingent Payment Note (by setoff thereto
or repayment to the Promissory Note Obligors), amounts payable under the
Promissory Notes (by set off thereto or repayment to the Promissory Note
Obligors), and shall also include an additional $10 million for purposes of the
indemnification under (i) Section 9.2(a)(i) as it relates to breaches of the
representations and warranties made by the Company under Sections 4.10 and 4.13
and (ii) Section 9.2(a)(v); PROVIDED, HOWEVER, that the parties agree that
recoveries against the Rollover Sellers for their Percentage Interest of such
additional $10 million may, at the option of the Rollover Sellers, be satisfied
exclusively by such Rollover Seller delivering to the Buyer (or its designee),
free and clear of all Liens, New Units, if any, and/or New Options having a Fair
Value (after, for the avoidance of doubt, the deduction of the exercise price
for any such New Options so delivered) as of the date such New Units and/or New
Options are so delivered equal to such Rollover Seller's Percentage Interest of
any Claim for such additional $10 million; PROVIDED, FURTHER, HOWEVER, that any
Rollover Seller may make such payment to the Buyer in cash in lieu of New Units
and/or New Options upon prior written notice to the Buyer;

          (g)     (i) The Buyer and its Affiliates shall not make a claim
against the amounts held under the Escrow Agreement or such additional $10
million referred to in Section 9.5(f) until the Contingent Payment Amount
(solely to the extent earned by the Sellers under Section 2.4 hereof) and the
amounts payable under the Promissory Notes and Contingent Payment Notes are
fully offset or paid, unless such claim involves a Loss relating to a monetary
payment or expense, in which case the Buyer will be permitted to make a claim
against funds held under the

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Escrow Agreement first and then, if applicable, the additional $10 million
referred to in Section 9.5(f) before being required to pursue recovery against
the Promissory Note and any Contingent Payment Amount (solely to the extent
earned by the Sellers under Section 2.4 hereof); (ii) the Buyer and its
Affiliates shall not make a claim against the amounts held under the Escrow
Agreement for Losses arising under Section 9.2(b) and (iii) except as provided
in clause (i) above, the Buyer shall be entitled to make a claim against any of
the amounts held under any of the Escrow Agreement, the additional $10 million
referred to in Section 9.5(f), the Promissory Notes and the Contingent Payment
Amount (solely to the extent earned by the Sellers under Section 2.4 hereof) or
any Contingent Payment Note in such priority as it determines in its sole
discretion. Concurrent with any set-off against any Promissory Note or
Contingent Payment Note in accordance with this Section 9.5(g), the Buyer shall
certify to the Sellers' Representative that any consent of the "Senior Agent"
specified in Section 6.2 of the Promissory Notes and any Contingent Payment Note
has been obtained.

          (h)     The aggregate liability of the Buyer under Section 9.3(a), as
further limited under this Section 9.5, shall in no event exceed, in the
aggregate, $20,000,000;

          (i)     Notwithstanding anything herein to the contrary, the liability
of the Buyer under (i) Section 9.3(a), with respect to the representations and
warranties made by the Buyer in Sections 4A.1, 5.1 and 5.2, (ii) Sections
9.3(b), (c) and (d), (iii) Section 9.3(e) and (iv) Section 9.3(f) with respect
to Buyer Scheduled Indemnifiable Liabilities, in each case for Losses suffered
by the Sellers and their respective Affiliates, shall not be subject to or
limited by any Threshold Amount, any De Minimus Amount or any financial cap on
liability otherwise provided herein;

          (j)     Notwithstanding anything herein to the contrary, but subject
to Section 9.5(k), the liability of the Sellers under (x) Sections 9.2(a)(i) and
9.2(b)(i) with respect to the representations and warranties set forth in
Sections 3.1, 3.2, 4.2 and 4.3, (y) Section 9.2(a)(ii), (iii), (iv) and (vi) and
Section 9.2(b)(ii) and (z) Section 9.2(b)(iii) as to any Designated Seller, in
each case for Losses suffered by the Buyer and its Affiliates, shall not be
subject to or limited by any Threshold Amount, any De Minimus Amount or any
financial cap on liability otherwise provided herein but shall be paid or offset
in accordance with Section 9.5(g) above prior to otherwise recovering for any
Losses relating to such liability;

          (k)     The aggregate liability of any individual Seller under
Section 9.2 for any Loss, as further limited under this Section 9.5, shall in no
event exceed the consideration actually paid to such Seller pursuant to this
Agreement, whether in the form of the Aggregate Cash Proceeds to such Seller at
Closing, payments of any Contingent Payment Amount (or any Contingent Payment
Note), payments under the Promissory Notes or the Fair Value as of the relevant
determination date of the New Units and/or New Options (after, for the avoidance
of doubt, the deduction of the exercise price for any such New Units and/or New
Options so delivered) issued to any Rollover Seller at Closing, including the
proceeds from any sale of New Units and New Options;

          (l)     No party shall be responsible for any indemnifiable Losses
suffered by another party or its Affiliates to the extent arising out of any
breach of any representation or warranty of such party herein unless a claim
therefor is asserted with specificity and in writing

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by the Indemnified Party within the time period that such representation or
warranty survives in accordance with Section 9.1, failing which such claim shall
be waived and extinguished;

          (m)     The Sellers shall not be responsible for any indemnifiable
Loss under Section 9.2(a) suffered by the Buyer or its Affiliates to the extent
of that amount relating to such matter that has been (i) specifically, expressly
and adequately treated or reserved for, provided for or allowed for in the
December 31, 2002 Audited Financial Statements, (ii) specifically treated as a
current liability in an adequate amount in the final determination of Final
Adjusted Working Capital pursuant to Section 2.3, in each case other than items
for which the Sellers have provided a specific indemnification under this
Article IX or (iii) as to any discrepancy in Final Cash Balances;

          (n)     Notwithstanding anything herein to the contrary, no Seller
shall be liable or responsible, directly or indirectly, for any Losses for any
breach of any representation, warranty or covenant made by any other Seller;

          (o)     All calculations of Losses shall be net of any insurance
proceeds actually received by an Indemnified Party (which, in the case of the
Buyer, shall include the Subsidiaries of the Buyer) in respect of the claim for
which such Indemnified Party is entitled to recovery under this Article IX;

          (p)     The Sellers' liability for any Losses related to the Gibbs
Litigation, the G3.0 Model Recall or the Seller Scheduled Indemnifiable
Liabilities under Sections 9.2(a)(iii), (iv) and (v) shall be the exclusive
basis for the assertion of any obligation or liability with respect to such
matters and the Sellers shall have no liability or obligation under any other
provision of this Agreement or any Principal Document for Losses arising from
such matters; PROVIDED, that nothing in this Section 9.5(p) shall preclude the
Buyer or its Affiliates from seeking indemnification from the Sellers for
breaches of representations and warranties by the Company under Section 4.10
relating to matters other than the Seller Scheduled Indemnifiable Liabilities;

          (q)     Notwithstanding anything herein to the contrary, but subject
to the following proviso, the Buyer (or its designee(s)) shall have the
exclusive right to control any settlement or compromise relating to the G3.0
Model Recall and shall be entitled, without the consent of or prior notice to
any Seller or the Sellers' Representative, to settle or compromise any claims
relating to the G3.0 Model Recall for which indemnification is requested of the
Sellers by Buyer or its Affiliates under Section 9.2(a)(iv); PROVIDED, that the
Sellers shall not be responsible for indemnifying Losses arising from any
settlement or compromise of claims arising from the G3.0 Model Recall that
exceed $4 million in the aggregate, after the application of any insurance
proceeds actually received by the Buyer or its Affiliates in respect of
insurance claims made for the G3.0 Model Recall, without the prior written
consent of the Sellers' Representative, which consent may be withheld in the
sole discretion of the Sellers' Representative. Nothing in this Section 9.5(q)
shall otherwise limit the Sellers' liability for Losses related to the G3.0
Model Recall. Prior to the Closing, the Company has delivered and promptly will
deliver notice to the Buyer and following the Closing, the Buyer shall cause to
be delivered prompt notice to the Sellers' Representative of all material
proceedings or events in respect of the G3.0 Model Recall;

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          (r)     Notwithstanding anything herein to the contrary, but subject
to the following proviso, the Buyer (or its designee(s)) shall have the
exclusive right to control any settlement or compromise relating to the Seller
Scheduled Indemnified Liabilities and shall be entitled, without the consent of
or prior notice to any Seller or the Sellers' Representative, to settle or
compromise any claims relating to the Seller Scheduled Indemnified Liabilities
for which indemnification is requested of the Sellers by Buyer or its Affiliates
under Section 9.2(a)(v); PROVIDED, that the Sellers shall not be responsible for
indemnifying Losses arising from any settlement or compromise of claims arising
from the Seller Scheduled Indemnified Liabilities without the prior written
consent of the Sellers' Representative, which consent may be withheld in the
sole discretion of the Sellers' Representative. Nothing in this Section 9.5(r)
shall otherwise limit the Sellers' liability for Losses related to the Seller
Scheduled Indemnified Liabilities. The Buyer further agrees to cause the Company
or the relevant Subsidiary to pursue all challenges and appeals that the
Sellers' Representative shall request in writing to the Buyer and that the Buyer
(or its designee(s)) deems has a reasonable likelihood of success relating to
any Claim arising from or relating to the Seller Scheduled Indemnified
Liabilities; PROVIDED, that the Sellers' Representative shall have reaffirmed in
writing to the Buyer the Sellers' indemnification obligations, to the extent
provided under Article IX hereof, for any Losses incurred arising from or
relating to the Seller Scheduled Indemnified Liabilities and shall have funded
the fees and expenses relating thereto (including, without limitation, posting
any bond or other security necessary to pursue such appeal) promptly as and when
incurred in accordance with this Article IX. Prior to the Closing, the Company
has delivered and promptly will deliver notice to the Buyer and following the
Closing, the Buyer shall cause to be delivered prompt notice to the Sellers'
Representative of all material proceedings or events in respect of the Seller
Scheduled Indemnified Liabilities;

          (s)     In determining the existence of a breach of a representation
and warranty by the Company that would give rise to an indemnifiable Loss under
Section 9.2(a)(i), the representations and warranties of the Company under
Section 4.13 shall be read as if no items had been disclosed on Schedule 4.13 or
any other Schedule hereto;

          (t)     The liability of the Sellers under (i) Section 9.2(a)(v), with
respect to the matters identified in clause (b) of the Seller Scheduled
Indemnifiable Liabilities for Losses suffered by the Buyer and its Affiliates
and (ii) Section 9.2(a)(i) with respect to Section 4.33 as they relate to the
amount of the French Facility Building Sale/Leaseback Proceeds, the French
Facility Equipment Sale/Leaseback Proceeds and Net Disposition Proceeds and not
to the attachment of agreements, instruments, schedules or exhibits as required
by Section 4.33, shall not be subject to or limited by any Threshold Amount or
any De Minimus Amount but shall be paid or offset in accordance with Section
9.5(g) above prior to otherwise recovering for any Losses relating to such
liability;

          (u)     Any indemnification payment that is not subject to the
Threshold Amount or De Minimus Amount, as the case may be, shall not be counted
towards any determination of whether the Threshold Amount or De Minimus Amount,
as the case may be, has been reached in respect of any matter that is subject to
the Threshold Amount or De Minimus Amount, as the case may be; and

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          (v)     Notwithstanding any provision or agreement herein to the
contrary, the Sellers shall only have an obligation to indemnify the Buyer in
respect of any Losses relating to the Brink Tax Audit if there shall be an
adverse determination with respect to the Brink Tax Audit which shall be final
and non-appealable, whereupon the amount payable with respect thereto that
exceeds $250,000 shall be promptly paid to the Buyer, notwithstanding that the
Buyer and its Affiliates may not have incurred aggregate Losses exceeding the
Threshold Amount. The amount so paid to the Buyer or any of its Affiliates shall
not be considered a Loss suffered by the Buyer or any of its Affiliates
hereunder (including, without limitation, pursuant to Section 9.5(a)) and shall
not be counted towards any determination of whether the Threshold Amount has
been reached. The amount of any payments made hereunder by Buyer up to and
including $250,000 shall be considered a Loss suffered by the Buyer and its
Affiliates hereunder (including, without limitation, pursuant to Section 9.5(a))
and shall be counted towards any determination of whether the Threshold Amount
has been reached.

          Section 9.6   TREATMENT OF INDEMNITY PAYMENTS FOR TAX PURPOSES. The
Sellers and the Buyer agree to treat all payments after the Closing by the
parties hereto made to the parties hereto under this Agreement, including,
without limitation, under the indemnity provisions and pursuant to Section 7.3
of this Agreement, as adjustments to the purchase price of the AAS Acquisition
for Federal income tax purposes (in accordance with Section 2.5) unless
otherwise required under applicable Law.

          Section 9.7   TAX CONTESTS. (a) If any claim is made by any Taxing
Authority (or otherwise relating to Taxes), which, if successful, might result
in an indemnity payment to the Buyer or its Affiliates pursuant to Section 9.2
(a "TAX CLAIM") (other than a Tax Claim relating to Taxes of the Company or any
of its Subsidiaries for a Straddle Period), the Buyer shall notify the Sellers'
Representative in writing of such claim within 30 days of receipt thereof and,
thereafter, the Sellers' Representative shall control all proceedings taken in
connection with such Tax Claim (including selection of counsel) and, without
limiting the foregoing, may in its sole discretion pursue or forego any and all
administrative appeals, proceedings, hearings and conferences with any Taxing
Authority with respect thereto, and may, in its sole discretion, either direct
that the Sellers pay the Tax claimed and sue for a refund where applicable Law
permits such refund suits or contest the Tax Claim in any permissible manner;
PROVIDED, that (i) any such proceedings shall be at the Sellers' sole expense,
(ii) prior to undertaking any such proceeding, the Sellers shall have agreed to
indemnify and hold the Buyer and each of its Subsidiaries harmless from and
against any Tax liability that results from such proceeding or the resolution
thereof or the Tax Claim giving rise thereto (including any increase in Tax
liabilities of the Buyer or any of its Subsidiaries in a Post-Closing Period),
(iii) the Buyer shall be kept fully informed of all proceedings and (iv) the
Sellers' Representative shall have notified Buyer of its election to control the
contest of such claim within 90 days of receiving written notice of such claim
(or, if earlier, reasonably in advance of the date any material action is
required to be taken in connection with such contest). The Sellers'
Representative and the Buyer shall jointly control all proceedings taken in
connection with any Tax Claim relating solely to Taxes of the Buyer or any of
its Subsidiaries for a Straddle Period. If the Sellers' Representative fails to
notify the Buyer (as required above) that it wishes to take any action pursuant
to this Section 9.7(a) then the Buyer shall have the right to control all
proceedings taken in connection with such Tax Claim.

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          (b)     The Buyer, the Company, each other Subsidiary of the Buyer and
each of their respective Affiliates shall cooperate with the Sellers'
Representative in contesting any Tax Claim, which cooperation shall include,
without limitation, upon the Sellers' Representative's request, the making
available to the Sellers' Representative's records and information which are
reasonably necessary to prosecute such Tax Claim, and making employees of the
Buyer and its Subsidiaries available on a mutually convenient basis and at
Sellers' sole expense to provide additional information or explanation of any
material provided hereunder or to testify at proceedings relating to such Tax
Claim. Neither party shall settle a Tax Claim relating solely to Taxes of the
Company or any of the Buyer's other Subsidiaries for a Straddle Period without
the other party's prior written consent (which shall be the Sellers'
Representative, in the case of the Sellers).

          Section 9.8   TAX TREATMENT. The Buyer and the Sellers agree that, for
U.S. Federal income tax purposes, they will report (and cause their Affiliates
to report) (a) the Brink Acquisition as a sale of Brink International stock by
AAS Holdings occurring prior to the AAS Holdings Liquidation, (b) the AAS
Holdings Liquidation as a complete liquidation of AAS Holdings pursuant to
Section 336 of the Code; (c) the AAS Acquisition as resulting in the termination
of the Company, SportRack, LLC ("SPORTRACK"), Valtek, LLC ("VALTEK, LLC") and
Valley Industries, LLC ("VALLEY") under Section 708(b)(1)(B) of the Code and the
Sellers being treated as having sold interests in a partnership and (d) as a
result of such terminations described in clause (c) above, the Buyer being
treated as having purchased all the assets of the Company, SportRack, Valtek,
LLC and Valley including the stock of each direct corporate Subsidiary of the
Company, SportRack, Valtek, LLC and Valley. In addition, the Buyer and the
Sellers agree that any Tax deductions, credits and expenses incurred on the
Closing Date resulting from the sale of the Options pursuant to this Agreement
shall be for the account of the Sellers and that each of the Buyer and the
Sellers shall not take any position on any Tax return that is inconsistent with
that position.

          Section 9.9   CONTRIBUTION AMONG SELLERS.

          (a)     The Seller's Representative shall be entitled to equitably
allocate any Loss among the Sellers through contribution in the event that the
Buyer or any of its Affiliates shall obtain any final payment pursuant to
Section 9.2(a) in an aggregate amount less than the full amount of such Loss
claimed by it (the "PAID LOSS") from less than all of the Sellers or under
circumstances where all Sellers do not bear their pro rata share, in accordance
with each Seller's Percentage Interest, of such Paid Loss, so that each Seller
shall be responsible for his, her or its pro rata share, in accordance with each
Seller's Percentage Interest, of such Paid Loss.

          (b)     Contribution payments shall be made in cash or Cash
Equivalents.

          (c)     Each Seller required to make a contribution payment pursuant
to this Section 9.9 shall make such payment promptly after notification from the
Sellers' Representative.

          (d)     If any Seller shall fail or threaten to fail to make any
contribution payment required to be made pursuant to the provisions of this
Section 9.9, the Sellers' Representative on behalf of all Sellers shall be
entitled to exercise and pursue any and all rights and remedies available to it
or any Seller, at Law or in equity, to recover any unpaid amounts, including

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without limitation, the right to bring an action in equity to require the
performance of this Agreement or an action at law to recover any such amounts
(including the commencement of a third party claim or impleader in any action
commenced by the Buyer). All such rights and remedies shall be cumulative, and
the pursuit or exercise of any such right or remedy shall not be deemed an
exclusive election of such remedy.

          Section 9.10  RESERVE ACCOUNT.

          (a)     The Sellers hereby authorize the Sellers' Representative to
establish an account for the purposes set forth herein (the "RESERVE ACCOUNT").
The Sellers' Representative is hereby authorized to use the funds in the Reserve
Account to satisfy, to the extent there are sufficient funds therefor, (i) all
costs, fees, expenses, liabilities or other obligations of the Sellers or the
Sellers' Representative hereunder or under any Principal Document, (including
without limitation, expenses of attorneys, accountants, escrow agents and other
advisors) and (ii) any other obligations or expenses incurred by the Sellers'
Representative in connection with the performance of its duties under this
Agreement, the Principal Documents and the other agreements entered into in
connection herewith and therewith.

          (b)     The balance of the Reserve Account shall, at all times during
the period beginning on the Closing Date and ending on the Reserve Termination
Date, equal no less than $250,000 (the "MINIMUM RESERVE BALANCE"). If the
balance of the Reserve Account shall at any time during such period be reduced
to less than the Minimum Reserve Balance (such amount below the Minimum Reserve
Balance being referred to herein as the "Deficit"), then each Seller other than
the Seller's Representative shall, within five days of such Seller's receipt of
notice from the Sellers' Representative, deliver by check or wire transfer of
immediately available funds to the Sellers' Representative or the Reserve
Account such Seller's Reserve Account Percentage Interest of the Deficit.

          (c)     Any funds remaining in the Reserve Account as of June 30, 2004
(the "RESERVE TERMINATION DATE") shall be distributed to the Sellers, other than
the Seller's Representative, in accordance with each Seller's Reserve Account
Percentage Interest, PROVIDED, that the Sellers' Representative may in its
reasonable discretion authorize the distribution of all or part of the Reserve
Account prior to the Reserve Termination Date. Notwithstanding the foregoing
sentence, the Sellers' Representative shall retain in the Reserve Account, in
accordance with the terms of this Agreement, any amount that the Sellers'
Representative deems in its reasonable discretion to be necessary to satisfy any
costs, fees, liabilities or expenses it expects to incur under this Agreement or
any Principal Document (whether on its behalf or on behalf of the Sellers) in
respect of its defense or settlement of any unresolved claims by the Buyer
outstanding as of the Reserve Termination Date.

          (d)     None of the Company, the Buyer or any of their respective
Affiliates (other than the Sellers) shall have any responsibility or liability
in respect of Section 9.9 or this Section 9.10 nor shall any of their rights
under this Agreement or under any Principal Document be limited by such
Sections. Each Seller other than the Sellers' Representative, pro rata in
accordance with its Reserve Account Percentage Interest, shall indemnify and
hold harmless the Company, the Buyer and each of their respective Affiliates
against all claims, liabilities and expenses of whatever nature relating to any
act or omission of the Sellers' Representative under

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Section 9.9 and this Section 9.10 or relating to the establishment and
administration of the Reserve Account.

                                    ARTICLE X

                                   CONDITIONS

          Section 10.1  CONDITIONS TO OBLIGATIONS OF EACH PARTY. The respective
obligations of each party hereto to effect the Ancillary Transactions, the AAS
Acquisition, the Brink Acquisition, the transfer of the Purchased Company
Securities, the Rollover and otherwise effect the Transaction shall be subject
to the satisfaction at or prior to the Closing Date of the following conditions:

          (a)     NO INJUNCTION. No Governmental Entity of competent
jurisdiction shall have enacted, issued, promulgated or enforced any statute,
rule, regulation, executive order, decree, judgment, preliminary or permanent
injunction or other order which is in effect and which prohibits, enjoins or
otherwise restrains the consummation of the Transaction; PROVIDED, that the
parties shall use commercially reasonable efforts to cause any such decree,
judgment, injunction or order to be vacated or lifted.

          Section 10.2  CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE SELLERS.
The obligation of the Sellers to effect the Ancillary Transactions, the AAS
Acquisition, the Brink Acquisition, the transfer of the Purchased Company
Securities, the Rollover and otherwise effect the Transaction is also subject to
the satisfaction at or prior to the Closing Date of each of the following
additional conditions, unless waived in writing by the Sellers' Representative:

          (a)     REPRESENTATIONS AND WARRANTIES. The representations and
warranties of the Buyer contained in Article V shall, individually and in the
aggregate, be accurate in all material respects as of the Closing Date as though
restated on and as of such date; PROVIDED, that any representation or warranty
which, by its terms, is made as of a date specified therein, shall be accurate
in all material respects as of such date; PROVIDED, FURTHER that such
representations or warranties as are qualified by materiality, Material Adverse
Effect, or comparable qualifications therein shall, individually and in the
aggregate, be accurate in all respects, except for any such qualifications that
directly relate to the scheduling, furnishing or availability of reports,
documents or written agreements.

          (b)     COMPLIANCE WITH COVENANTS. The Buyer shall have performed in
all material respects all obligations and agreements, and complied in all
material respects with all covenants, contained in this Agreement to be
performed or complied with by it prior to or at the Closing Date (except that
the Buyer shall have performed such covenants as are qualified by materiality,
Material Adverse Effect or any comparable term in all respects).

          (c)     OFFICER'S CERTIFICATES. The Sellers shall have received such
certificates of the Buyer, dated the Closing Date and signed by an executive
officer of the Buyer, to evidence satisfaction of the conditions set forth in
this Article X (insofar as each relates to the Buyer).

          (d)     SECRETARY'S CERTIFICATE. The Buyer shall have delivered to
Sellers (i) a copy of the Certificate of Formation, including all amendments
thereto, of the Buyer, certified by

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the appropriate official of its jurisdiction of incorporation and (ii) a
certificate from the jurisdiction of formation to the effect that the Buyer is
in good standing in such jurisdiction and listing all Organizational Documents
of the Buyer on file in such jurisdiction.

          (e)     PRINCIPAL DOCUMENTS. To the extent not otherwise executed and
delivered to the applicable Sellers on the date of this Agreement, the Buyer
shall have executed and delivered (or shall have caused the Subsidiary or
Subsidiaries of the Buyer that are obligated under the Principal Documents, as
applicable, to execute and deliver) the Principal Documents to the Sellers party
to each such Principal Document.

          (f)     PURCHASE PRICE. Such Seller shall have received in the
aggregate, his, her or its Aggregate Cash Proceeds.

          (g)     NEW UNITS; NEW OPTIONS. The Buyer shall have issued to each
Rollover Seller documentation governing the New Units, if any, and New Options
being issued to such Rollover Seller.

          (h)     PROMISSORY NOTES; GUARANTEES. The Promissory Note Obligors
shall have executed and delivered to each Seller a Promissory Note representing
such Seller's pro rata portion (in accordance with their respective Percentage
Interests) of the Promissory Notes. The CHP IV Bridge Note Guarantors shall have
executed and delivered to each Seller the Subordinated Guarantee.

          Section 10.3  CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE BUYER.
The obligation of the Buyer to effect the Brink Acquisition, the Ancillary
Transactions, the AAS Acquisition, the transfer of the Purchased Company
Securities, the Rollover and otherwise effect the transactions contemplated
hereby is also subject to the satisfaction at or prior to the Closing Date of
each of the following additional conditions, unless waived in writing by the
Buyer:

          (a)     REPRESENTATIONS AND WARRANTIES. The representations and
warranties of the Sellers and the Company contained in Articles III and IV
shall, individually and in the aggregate, be accurate in all material respects;
PROVIDED, that any representation or warranty which, by its terms, is made as of
a date specified therein, shall be accurate in all material respects as of such
date; PROVIDED, FURTHER that such representations or warranties as are qualified
by materiality, Material Adverse Effect, or comparable qualifications therein
shall, individually and in the aggregate, be accurate in all respects, except
for any such qualifications that directly relate to the scheduling, furnishing
or availability of reports, documents or written agreements.

          (b)     COMPLIANCE WITH COVENANTS. Each Seller and the Company shall
have performed in all material respects all obligations and agreements, and
complied in all material respects with all covenants, contained in this
Agreement to be performed or complied with by him, her or it prior to or on the
Closing Date (except that each Seller and the Company shall have performed such
covenants as are qualified by materiality, Material Adverse Effect or any
comparable term in all respects).

          (c)     RESERVED.

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          (d)     SECRETARY'S CERTIFICATE. Without giving effect to the Brink
Acquisition or the Ancillary Transactions, the Company shall have delivered to
the Buyer, except for such items set forth on Schedule 10.3(d) (i) a copy of the
Certificate of Formation, certificate of incorporation or comparable
Organizational Document, including all amendments thereto, for the Company and
each of its Subsidiaries, certified (if applicable) by the appropriate official
of its jurisdiction of formation or incorporation; (ii) a certificate from the
appropriate jurisdiction of formation or incorporation to the effect that the
Company and each Subsidiary of the Company is in good standing in such
jurisdiction and listing all charter documents of the Company and each
Subsidiary of the Company on file in such jurisdiction or such comparable
documentation (if any) as is customarily provided in transactions of this type
for Subsidiaries of the Company that are formed outside of the United States;
(iii) a certificate from the appropriate official in each jurisdiction in which
the Company and each Subsidiary of the Company is qualified to do business to
the effect that the Company and each Subsidiary of the Company is in good
standing in such state or such comparable documentation (if any) as is
customarily provided in transactions of this type for Subsidiaries of the
Company that are formed outside of the United States; in each case, dated as of
a date not more than twenty Business Days prior to the Closing Date and (iv) a
copy of the operating agreement, bylaws or other comparable Organizational
Document for the Company and each Subsidiary of the Company.

          (e)     RESIGNATIONS. The Buyer shall have received resignations,
dated and effective as of the Closing Date, of the individual directors,
officers and managers of the Company and its Subsidiaries identified to the
Sellers' Representative prior to the Closing Date.

          (f)     OPINION. The Buyer shall have received an opinion of O'Melveny
& Myers LLP, in form and substance as is customarily delivered in similar
transactions.

          (g)     DEBT. Subject to the application therefor of the funds to be
obtained in the financings being provided under the Financing Documents, the
Sellers shall have paid, or caused the Company or its Subsidiaries to pay, or
shall have assumed full and complete liability for the outstanding balance of
the Indebtedness for borrowed money of the Company and its Subsidiaries listed
on Schedule 6.2, and each holder of secured indebtedness and other obligations
as has been so paid or assumed shall have fully released all Liens on any assets
of the Company and its Subsidiaries, and Buyer shall have received evidence
thereof reasonably satisfactory to it. All loans and advances from the Company
or any of its Subsidiaries, as of immediately prior to the Closing Date and
without giving effect to the Brink Acquisition or the Ancillary Transactions, to
Sellers shall have been repaid or released.

          (h)     FINANCING. The Buyer or one or more of its Affiliates shall
have obtained at or prior to the Closing (i) $140 million in senior debt
financing and (ii) $55 million in senior subordinated debt financing.

          (i)     MATERIAL ADVERSE CHANGE. Since the date of this Agreement,
there shall not have occurred any event or circumstance that, alone or together
with other such events and circumstances, has had or could reasonably be
expected to have a Material Adverse Effect or a material adverse effect on the
Company's or any Seller's performance hereunder.

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          (j)     LETTER OF CREDIT. Subject to the application therefor of the
funds to be obtained in the financings being provided under the Financing
Documents, the Sellers shall have cash collateralized the Gibbs Letter of Credit
in accordance with Section 8.10.

          (k)     DELIVERY OF EQUITY INTERESTS. The Sellers shall deliver to the
Buyer or its designee any certificates or other written documents or instruments
representing any of the Company Securities (including any Units or Warrants that
have not vested and are being terminated at Closing, which shall be delivered to
the Buyer without additional consideration therefor) or duly executed affidavits
of loss and indemnities in the form previously furnished to the Buyer or its
counsel with respect to Company Securities, the Company shall cause AAS Holdings
to deliver to Holdings BV or its designee any certificates or other written
documents or instruments representing any of the Brink Securities and, to the
extent requested by Buyer for the purpose of effecting the transactions
contemplated by the Financing Documents, the Company shall deliver to the Buyer
or its designee any certificates, documents or instruments representing any
outstanding shares of capital stock or equity interests in the Company's
Subsidiaries, and any certificates, documents or instruments representing any
options, warrants or other rights to acquire any shares of capital stock or
other equity interests of the Company's Subsidiaries, duly endorsed for transfer
or accompanied by executed transfer documentation.

          (l)     EBITDA. The Adjusted Consolidated EBITDA, as derived by the
Buyer in accordance with the definition thereof, from the December 31, 2002
Audited Financial Statements, for the year ended December 31, 2002 shall be at
least $46,000,000.00.

          (m)     ESTIMATED CASH BALANCES. The Estimated Cash Balances as of the
Closing Date, as certified in writing by the Company's Chief Financial Officer
to the Buyer pursuant to Section 2.3(c)(i)(C), shall be at least $2,500,000.

                                   ARTICLE XI

                                   TERMINATION

          Section 11.1  TERMINATION. This Agreement may be terminated and the
transactions contemplated hereby may be abandoned at any time prior to the
Closing Date:

          (a)     by mutual written consent of the Sellers' Representative and
the Buyer; or

          (b)     by either the Sellers' Representative or the Buyer, if (i) the
transactions contemplated hereby shall not have been consummated by 5:00 p.m.
Eastern time on the Termination Date, (ii) any Law promulgated or enacted by any
Governmental Entity after the date of this Agreement which prohibits the
consummation of the transactions contemplated hereby shall be in effect.

          Section 11.2  EFFECT OF TERMINATION. In the event of any termination
of this Agreement pursuant to Section 11.1, this Agreement forthwith shall
become void and of no further force or effect, and no party hereto (or any of
its Affiliates, directors, officers, agents or representatives) shall have any
liability or obligation hereunder, except in any such case (i) in accordance
with Sections 6.14, 8.4 and 12.5, which shall survive any such termination and
(ii) to

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the extent such termination results from the breach by such party of any of its
covenants or agreements contained in this Agreement.

                                   ARTICLE XII

                                  MISCELLANEOUS

          Section 12.1  APPOINTMENT OF SELLERS' REPRESENTATIVE. (a) Each of the
Sellers does hereby make, constitute and appoint JP Morgan (the "SELLERS'
REPRESENTATIVE"), as his, her or its agent, to act in his, her or its name,
place and stead, as such Seller's attorney-in-fact, to execute and deliver all
documents necessary or desirable to carry out the intent of this Agreement and
any other agreements contemplated by this Agreement (including the Principal
Documents), to make all elections or decisions contemplated by this Agreement
and any other agreements contemplated by this Agreement (including the Principal
Documents) including, the initiation or defense of claims for indemnification
hereof, and to give and receive on behalf of Sellers any and all notices from or
to any Seller or Sellers hereunder, and does hereby give and grant unto the
Sellers' Representative the power and authority to do and perform each such act
and thing whatsoever that the Sellers may or are required to do pursuant to this
Agreement and all of the Principal Documents (including the Escrow Agreement and
any agreements in furtherance of Section 8.10 of this Agreement) and all other
documents and agreements executed and delivered by Sellers in connection with
this Agreement (including the Principal Documents), and to amend, modify or
supplement any of the foregoing in each such Seller's name, place and stead, as
if such Seller had personally done such act, and JP Morgan as Sellers'
Representative hereby accepts such appointment. The death, incapacity,
dissolution, liquidation, insolvency or bankruptcy of any Seller shall not
terminate such appointment or the authority and agency of the Sellers'
Representative. The power-of-attorney granted in this Section is coupled with an
interest and is irrevocable. Sellers' Representative may resign at any time by
giving written notice thereof to the Sellers and Buyer. If at any time hereafter
the Sellers' Representative shall resign or otherwise become incapable of acting
as Sellers' Representative, a successor Sellers' Representative shall be elected
by the affirmative vote of a majority-in-interest of the Sellers or their
representatives, in accordance with their respective Percentage Interests. Any
such resignation shall be effective upon the appointment or election of such
successor and the acceptance of such appointment or election by such successor.
Every successor Sellers' Representative appointed hereunder shall execute,
acknowledge and deliver to Buyer and each other Seller, an instrument in
writing, reasonably satisfactory to the Sellers and Buyer, accepting such
appointment hereunder, and thereupon such successor Sellers' Representative,
without any further act, shall become fully vested with all the rights,
immunities and powers and shall be subject to all of the duties and obligations,
of its predecessor. Sellers agree jointly and severally to indemnify, defend and
hold harmless the Sellers' Representative from and against any and all loss,
damage, liability and expense that may be incurred by the Sellers'
Representative arising out of or in connection with his acceptance or
appointment as Sellers' Representative under this Agreement (except such as may
result from the Sellers' Representative's bad faith), including the legal costs
and expenses of defending itself against any claim or liability in connection
with his performance under this Agreement and all other documents and agreements
executed and delivered by Sellers' Representative in connection with this
Agreement.

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          (b)     RELIANCE. Each party hereto shall be entitled to rely
exclusively upon any communication given or other action taken by the Sellers'
Representative on behalf of the Sellers pursuant to this Agreement, and shall
not be liable for any action taken or not taken in good faith reliance on a
communication or other instruction from the Sellers' Representative on behalf of
the Sellers.

          (c)     LIMITATION ON LIABILITY. The Sellers' Representative shall
have no liability whatsoever to the Sellers or any person claiming by, through
or under them, for or in respect of any of its acts or omissions, except only
for its bad faith.

          (d)     ADDITIONAL LIMITATION. Notwithstanding the foregoing, the
Sellers' Representative, each Seller and the Buyer expressly acknowledge that
the Sellers' Representative shall have no authority or responsibility to act on
behalf of any Seller in connection with any claim, action or proceeding
initiated against such Seller pursuant to a breach by such Seller of such
Seller's individual representations, warranties or covenants hereunder.

          (e)     DELIVERIES TO SELLERS' REPRESENTATIVE. The Seller's
Representative may, but shall not be obligated to, request in writing to the
Buyer that the Buyer make all or any payments, distributions and deliveries to
the Sellers required under this Agreement and any of the Principal Documents to
the Sellers' Representative. If such written request is made to the Buyer, the
Sellers' Representative shall be solely responsible to distribute any such
payments, distributions or deliveries to each of the Sellers in accordance with
the terms of this Agreement or the relevant Principal Document.

          Section 12.2  NOTICES. All notices and other communications given or
made pursuant hereto shall be in writing and shall be deemed to have been duly
given or made as of the date delivered, mailed or transmitted, and shall be
effective upon receipt, if delivered personally, mailed by registered or
certified mail (postage prepaid, return receipt requested) or sent by fax (with
immediate confirmation) or nationally recognized overnight courier service, as
follows:

          (a)     if to the Buyer, to:

          CHAAS Acquisitions, LLC
          c/o Castle Harlan, Inc.
          150 E. 58th Street
          New York, New York  10155
          Attn: Marcel Fournier and Howard Weiss
          Fax:  (212) 207-8042

          with a copy to (which shall not constitute notice):

          Schulte Roth & Zabel LLP
          919 Third Avenue
          New York, New York  10022
          Attn: Andre Weiss, Esq.
          Fax:  (212) 593-5955

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          (b)     if to the Company, to:

          Advanced Accessory Systems, LLC
          12900 Hall Road
          Suite 200
          Sterling Heights, Michigan 48313
          Attn: Chief Executive Officer
          Fax:  (586) 997-6868

          with a copy to (which shall not constitute notice):

          CHAAS Acquisitions, LLC
          c/o Castle Harlan, Inc.
          150 E. 58th Street
          New York, New York  10155
          Attn: Marcel Fournier and Howard Weiss
          Fax:  (212) 207-8042

          and

          Schulte Roth & Zabel LLP
          919 Third Avenue
          New York, New York  10022
          Attn: Andre Weiss, Esq.
          Fax:  (212) 593-5955

          (c)     if to Sellers' Representative:

          J.P. Morgan Partners (23A SBIC), LLC
          c/o J.P. Morgan Partners, LLC
          1221 Avenue of the Americas
          New York, New York 10020
          Attention: Official Notices Clerk
          Fax:  (212) 899-3401

          with a copy to (which shall not constitute notice):

          O'Melveny & Myers LLP
          30 Rockefeller Plaza
          New York, New York 10112
          Attn: Ilan Nissan, Esq.
          Fax:  (212) 408-2420

          (d)     if to any Seller, at the address of such Seller as
          specified on Schedule A

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or to such other Person or address or facsimile number as either party shall
specify by like written notice to the Company, Buyer and Sellers'
Representative, as applicable (any such notice of a change of address to be
effective only upon actual receipt thereof).

          Section 12.3  ENTIRE AGREEMENT. This Agreement (including the
Principal Documents, any Schedules, Annexes and Exhibits hereto and thereto,
which are an integral part hereof), together with the other agreements
contemplated by this Agreement constitutes the entire agreement between the
parties hereto with respect to the subject matter hereof and supersedes all
prior written or oral and all contemporaneous oral agreements and undertakings
between any of the parties hereto with respect to the subject matter hereof,
including, without limitation, the Letter of Intent, dated as of February 13,
2003, among the Company, the Buyer and the Sellers Representative.

          Section 12.4  ASSIGNMENT; BINDING EFFECT. Neither this Agreement nor
any of the rights, benefits or obligations hereunder may be assigned, in whole
or in part, by any party (whether by operation of law or otherwise) without the
prior written consent of the other parties hereto (it being understood that the
Sellers' Representative may consent on behalf of all Sellers); any attempted
assignment in violation of this Section 12.4 shall be void; PROVIDED, HOWEVER,
that upon the consummation of a Change in Control that does not involve a
transfer or sale of equity interests in the Buyer, the Buyer shall cause any
acquiror, buyer or surviving entity to assume its obligations hereunder
(including pursuant to Section 2.4) and pursuant to any documents executed and
delivered in connection therewith and the Buyer may assign, without the consent
of any other party hereto, the rights of the Buyer hereunder; PROVIDED, FURTHER,
HOWEVER, that (a) the Buyer may assign any of its rights, benefits or
obligations hereunder to an Affiliate of the Buyer provided that no such
assignment shall relieve the Buyer of its obligations hereunder and (b) the
Buyer and the Sellers acknowledge and agree that the rights, benefits and
obligations of the Company under this Agreement may be assigned to the existing
lenders of the Company or its Subsidiaries. Subject to the preceding sentence,
this Agreement shall be binding upon, inure to the benefit of and be enforceable
by the parties and their respective successors and assigns (including, in the
case of the Buyer, any Person into which the Buyer's Equityholders contribute or
otherwise transfer their equity interests, whether pursuant to Section 351 of
the Code or otherwise). Nothing in this Agreement, expressed or implied, is
intended to confer on any Person, other than the parties hereto or their
respective successors and assigns, any rights, remedies, obligations or
liabilities under or by reason of this Agreement. Notwithstanding anything to
the contrary in this Section 12.4, each of Buyer and the Company (after Closing)
may, in their respective sole discretion, assign their respective rights under
this Agreement to their respective financing institutions.

          Section 12.5  FEES AND EXPENSES. Except as otherwise expressly set
forth herein, all costs and expenses incurred in connection with this Agreement
and the transactions contemplated hereby (including, without limitation, fees
and disbursements of counsel, financial advisors and accountants) shall be borne
by the party which incurs such cost or expense or by the Sellers, in the case of
fees, costs and expenses incurred by the Company to the extent not otherwise
reflected as a current liability in the final determination of Adjusted Working
Capital; PROVIDED, HOWEVER, if the transaction contemplated hereby is
consummated (a) the Buyer shall or

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shall cause the Company or one or more of its other Subsidiaries to pay the
Company Transaction Expenses at Closing and (b) the expenses of the Buyer shall
be paid by the Company or one or more of its other Subsidiaries at Closing;
PROVIDED, FURTHER, that any filing fees associated with any Investment Canada
Act filing and the Czech Competition Act filing shall be paid by the Buyer.

          Section 12.6  AMENDMENTS. This Agreement may be amended or waived only
by an instrument, in writing signed on behalf of each of the Buyer and the
Sellers' Representative.

          Section 12.7  WAIVERS. At any time prior to the Closing Date, the
Sellers' Representative, on the one hand on behalf of the Sellers, or the Buyer,
on the other hand, may, to the extent legally allowed, (a) extend the time
specified herein for the performance of any of the obligations or other acts of
the other, (b) waive any inaccuracies in the representations and warranties of
the other contained herein or in any document delivered pursuant hereto or (c)
waive compliance by the other with any of the agreements or covenants of such
other party contained herein. Any such extension or waiver shall be valid only
if set forth in a written instrument signed by the party to be bound thereby. No
such extension or waiver shall constitute a waiver of, or estoppel with respect
to, any subsequent or other breach or failure to strictly comply with the
provisions of this Agreement. The failure of either party to insist on strict
compliance with this Agreement or to assert any of its rights or remedies
hereunder or with respect hereto shall not constitute a waiver of such rights or
remedies.

          Section 12.8  SEVERABILITY. If any term or other provision of this
Agreement is invalid, illegal or incapable of being enforced by any court of
competent jurisdiction, all other conditions and provisions of this Agreement
shall nevertheless remain in full force and effect so long as the economic or
legal substance of the transactions contemplated thereby is not affected in any
manner materially adverse to either party. Upon such determination that any term
or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in an
acceptable manner to the end that the transactions contemplated hereby are
fulfilled to the fullest extent possible.

          Section 12.9  CAPTIONS. The table of contents and headings contained
in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement.

          Section 12.10 COUNTERPARTS. This Agreement may be executed in
counterparts, each of which shall be deemed to be an original, and all of which
together shall be deemed to be one and the same instrument. This Agreement shall
become effective when one or more such counterparts have been signed by each of
the parties and delivered to the other party (or, to the Sellers'
Representative, on behalf of the Sellers).

          Section 12.11 GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without regard
to any applicable principles of conflicts of law to the contrary.

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          Section 12.12 CONSENT TO JURISDICTION. Each of the parties irrevocably
submits to the exclusive jurisdiction of the United States District Court for
the Southern District of New York located in the borough of Manhattan in the
City of New York, or if such court does not have jurisdiction, the Supreme Court
of the State of New York, New York County, for the purposes of any suit, action
or other proceeding in connection with this Agreement and the transactions
contemplated hereby. Each of the parties agrees not to bring any suit, action or
proceeding against the other party in connection with this Agreement and the
transactions contemplated hereby in any court other than the United States
District Court for the Southern District of New York located in the borough of
Manhattan in the City of New York, or if such court does not have jurisdiction,
the Supreme Court of the State of New York, New York County. Each of the parties
irrevocably and unconditionally waives any objection to the laying of venue of
any action, suit or proceeding arising out of this Agreement or the transactions
contemplated hereby in the courts referred to above, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any
such court that any such action, suit or proceeding brought in any such court
has been brought in an inconvenient forum.

          Section 12.13 LIMITATIONS OF REMEDIES. None of the parties hereto
shall be liable to any other for profits lost, punitive damages or any claim
based upon any multiplier of the Company's earnings before interest, tax,
depreciation or amortization or any similar valuation metric (including any
deficiency in Adjusted Consolidated EBITDA); PROVIDED, that nothing in this
Section 12.13 shall preclude any recovery by an Indemnified Party against an
Indemnifying Party for Losses arising from Third Party Claims for lost profits
or for punitive damages. Except for certain equitable remedies expressed in this
Agreement as available to the parties in connection with a breach of applicable
provisions hereof, the parties hereby acknowledge and agree that, from and after
Closing, their sole and exclusive remedy for any claim of Losses resulting from
a breach by any other party's representations, warranties, covenants or
agreements made herein or the failure by any party to perform its or his
obligations under this Agreement shall be a claim under and pursuant to
Article IX.

          Section 12.14 CURRENCY TRANSLATION. All amounts denominated in
currencies other than the dollar shall be translated into dollars, (a) as to any
calculation as of the Closing Date, as follows: 1.0773 dollar to 1 Euro and 1.45
dollar to 1 Canadian Dollar and (b) as to any calculation as of any other
relevant determination date, at the exchange rates then published in the Wall
Street Journal.

          Section 12.15 FURTHER ASSURANCES. Each party shall execute and deliver
any certificates or affidavits (to the extent such party is capable of
delivering any such certificate or affidavit) and provide such information and
data (to the extent available and not proprietary), as the other party may
reasonably request in order to carry out the intent and accomplish the purpose
of this Agreement and the consummation of the Transaction.

          Section 12.16 BUYER OBLIGATIONS. The Buyer agrees that if it does not
have funds sufficient to make any payment due to the Sellers at the time such
payment is due, it shall cause one or more of its Subsidiaries to distribute or
lend sufficient funds to the Buyer to make such payment or shall cause such
Subsidiary or Subsidiaries to make such payment on the Buyer's behalf; PROVIDED
that the foregoing obligation on the part of such Subsidiaries shall not apply
to the extent that (a) such loan or payment is not permitted by applicable Law
or (b) the

                                       82
<Page>

making of any such payments would cause or result in a default or an event of
default under any Buyer Credit Agreement, PROVIDED the Buyer shall have
exercised commercially reasonable efforts to avoid any such result and, in
either case, (c) an opinion of counsel to such effect (other than as to the
foregoing proviso), reasonably acceptable to Sellers' Representative, is
delivered to Sellers' Representative.

                                      * * *

                                       83
<Page>

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

                                        COMPANY:

                                        ADVANCED ACCESSORY SYSTEMS, LLC

                                        By:  /s/ Terence C. Seikel
                                            ----------------------------------
                                        Name:  Terence C. Seikel
                                        Title: Chief Executive Officer

                                        BUYER:

                                        CHAAS ACQUISITIONS, LLC

                                        By: /s/ Marcel Fournier
                                            ----------------------------------
                                        Name:  Marcel Fournier
                                        Title: Senior Vice President

<Page>

                                        SELLERS:

                                        J. P. MORGAN PARTNERS (23A SBIC), L.L.C.
                                        By: J. P. Morgan Partners
                                        (23A SBIC Manager), Inc.,
                                        its Managing Member (as Seller and as
                                        Sellers' Representative)

                                        By:  /s/ Donald Hoffman
                                            ----------------------------------
                                        Name: Donald Hoffman
                                        Title:

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ F. Alan Smith
                                        --------------------------------------
                                        F. Alan Smith

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        THE F. ALAN SMITH FAMILY LIMITED
                                        PARTNERSHIP

                                        By: /s/ F. Alan Smith
                                            ----------------------------------
                                        Name: F. Alan Smith
                                        Title: General Manager of General
                                               Partner

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        THE BANDUCCI FAMILY, LLC

                                        By /s/ Barry R. Banducci
                                           -----------------------------------
                                        Name: Barry R. Banducci
                                        Title: Manager

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Barry R. Banducci
                                        --------------------------------------
                                        Barry Banducci

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Richard E. Borghi
                                        --------------------------------------
                                        Richard E. Borghi

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Gerard Jacobus Brink
                                        --------------------------------------
                                        Gerard Jacobus Brink

Seen for legalization of the signature of
Mr. Gerard Jacobus Brink,
living at ______________________,
by me, Maitre _____________________
civil-law notary, practising at ______________________, Belgium.

Signed at ____________________________

____________________________

<Page>

                                        /s/ Koop Brink
                                        --------------------------------------
                                        Koop Brink

Seen for legalization of the signature of
Mr. Koop Brink,
living at ______________________,
by me, Maitre _____________________
civil-law notary, practising at ______________________, Belgium.

Signed at ____________________________

____________________________

<Page>

                                        /s/ Jan Willem Brink
                                        --------------------------------------
                                        Jan Willem Brink

Seen for legalization of the signature of
Mr. Jan Willem Brink,
living at ______________________,
by me, Maitre _____________________
civil-law notary, practising at ______________________, The Netherlands.

Signed at ____________________________

____________________________

------------------------------
        Notary Public

<Page>

                                        LAVERNE A. FARRIS TRUST

                                        By: /s/ Laverne A. Farris
                                            ----------------------------------
                                        Name: Laverne A. Farris, Trustee
                                        Title: Laverne A. Farris Trust

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Craig A. Stapleton
                                        --------------------------------------
                                        Craig A. Stapleton

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Barbara A. Rushing
                                        --------------------------------------
                                        Barbara A. Rushing

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Winston P. Fowler
                                        --------------------------------------
                                        Winston P. Fowler

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Paul J. Biegansky
                                        --------------------------------------
                                        Paul J. Biegansky

[Notarial Seal for Mr. Biegansky
attached hereto]

<Page>

                                        /s/ Terence C. Seikel
                                        --------------------------------------
                                        Terence C. Seikel

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Robert L. Fisher
                                        --------------------------------------
                                        Robert L. Fisher

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Roger T. Morgan
                                        --------------------------------------
                                        Roger T. Morgan

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        /s/ Gerrit de Graaf
                                        --------------------------------------
                                        Gerrit de Graaf

Seen for legalization of the signature of
Mr. Gerrit DeGraaf,
living at ______________________,
by me, Maitre _____________________
civil-law notary, practising at ______________________, The Netherlands.

Signed at ____________________________

____________________________

<Page>

                                        /s/ Wim Rengelink
                                        --------------------------------------
                                        Wim Rengelink

Seen for legalization of the signature of
Mr. Wim Rengelink,
living at ______________________,
by me, Maitre _____________________
civil-law notary, practising at ______________________, The Netherlands.

Signed at ____________________________

____________________________

<Page>

                                        /s/ Bryan Fletcher
                                        --------------------------------------
                                        Bryan Fletcher

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        INTERNATIONAL MEZZANINE
                                        CAPITAL, B.V.

                                        By: /s/ Jacobus Schouten
                                           -----------------------------------
                                        Name: Jacobus Schouten
                                        Title: Managing Director

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                        IPA MTECH INVESTORS, LLC

                                        By:/s/ Stephen E. Adamson
                                           -----------------------------------
                                        Name: Stephen E. Adamson
                                        Title: Member

SUBSCRIBED AND SWORN TO
BEFORE ME THIS ___th DAY OF
APRIL 2003.

------------------------------
        Notary Public

<Page>

                                     ANNEX I

          All Article and Section numbers used in this Agreement refer to
Articles and Sections of this Agreement unless otherwise specifically described.

          "9 3/4% NOTES" means the 9 3/4% Series B Senior Subordinated Notes due
2007 issued pursuant to the Indenture.

          "AAS CAPITAL" means AAS Capital Corporation, a Delaware corporation.

          "ADJUSTED CONSOLIDATED EBITDA" means, for any period, the net income
(or net loss) of (x) with respect to any determination to be made in respect of
periods on or prior to the Closing, the Company and its consolidated
Subsidiaries and (y) with respect to any determination to be made in respect of
periods after the Closing, the Buyer and its consolidated Subsidiaries,
determined in accordance with GAAP, plus (a) any provision for (or less any
benefit from) Income Taxes, (b) any deduction for interest expense, net of
interest income and (c) depreciation and amortization expense (including the
amortization of capitalized tooling that is customer owned and non-reimbursed),
and as adjusted for the following items (to the extent that they are reflected
in net income or net loss):

          (i)     elimination of: (A) all extraordinary gains and losses
determined in accordance with GAAP (APB 30), (B) gains and losses from sales or
dispositions of property and equipment or other fixed assets, (C) all
non-recurring income and expense items not incurred in the ordinary course of
business to the extent included in the determination of net income for the
relevant determination period and (D) foreign currency transaction gains and
losses, to the extent included in the determination of net income for the
relevant determination period;

          (ii)    add-back for all management fees (but not reimbursed or
advanced expenses) paid or accrued to the members of the Castle Harlan Group,
pursuant to the Management Agreement or otherwise and all expenses of the Buyer
or any member of the Castle Harlan Group that were paid by the Company in
connection with the Transaction and all transactions occurring in connection
with the Closing to the extent such expenses are included in the determination
of net income for the relevant determination period;

          (iii)   elimination of any income statement impact from a change in
the value of redeemable warrants;

          (iv)    elimination of any income statement impact from the reserve
established by the Company in connection with the G3.0 Model Recall on the
December 31, 2002 Audited Financial Statements and, in respect of financial
statements covering periods after December 31, 2002, to the extent Losses
arising from the G3.0 Model Recall are actually paid for or reimbursed by the
Sellers or are subject to a continuing obligation of indemnification of the
Sellers pursuant to Article IX under which the Sellers are not in default;

          (v)     elimination of any income statement impact on the December 31,
2002 Audited Financial Statements from the payment actually made in the 2002
calendar year by SportRack gmbh of $517,000 to the German Taxing Authorities in
respect of withholding taxes

                                       A-1
<Page>

that had not been paid in respect of Paul Biegansky's employment during the
1999, 2000 and 2001 calendar years; and

          (vi)    elimination of any income statement impact in respect of fees
and expenses of law firms, accounting firms and other advisors paid or accrued
by the Company in connection with the negotiation of the Transaction on the
December 31, 2002 Audited Financial Statements and, in respect of financial
statements covering periods after December 31, 2002, to the extent such fees and
expenses are taken into account in computing Net Indebtedness as of the Closing
Date or are otherwise treated as current liabilities in the determination of
Adjusted Working Capital.

Each of the financial accounting terms in this definition of Adjusted
Consolidated EBITDA shall be determined in accordance with GAAP, to the extent
such items are addressed by GAAP.

          "ADJUSTED WORKING CAPITAL" has the meaning specified in Exhibit J
hereto.

          "AFFILIATE" means, with respect to any specified Person, a Person that
directly, or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with, such specified Person (it being
understood that a Person shall be deemed to "control" another Person, for
purposes of this definition, if such Person directly or indirectly has the power
to direct or cause the direction of the management and policies of such other
Person, whether through holding beneficial ownership interests in such other
Person, through contracts or otherwise). For purposes of an individual, an
Affiliate of such individual shall also mean any family member of such
individual or a Person owned 10% or more by such individual.

          "AGGREGATE CONSIDERATION" shall mean $260,000,000.

          "BENEFIT PLAN" means each retirement, pension, savings, bonus, stock
purchase, profit sharing, stock option, deferred compensation, severance or
termination pay, insurance, death, medical, hospital, dental, vision care, drug,
sick leave, disability, salary continuation, vacation, incentive or other
compensation plan or arrangement or other employee benefit that the Company and
its Subsidiaries maintain, as of immediately prior to the Closing Date, without
giving effect to the Transaction, or to which the Company and its Subsidiaries
contributed or are required to contribute, as of immediately prior to the
Closing Date, without giving effect to the Transaction, for the benefit of any
of its employees or former employees (or dependents or beneficiaries thereof)
(or as to which the Company and it Subsidiaries may otherwise have any
liability, including, but not limited to, any pension plan ("PENSION PLAN") as
defined in Section 3(2) of ERISA, any welfare plan as defined in Section 3(1) of
ERISA, any Foreign Pension Plan or any program administered by a Governmental
Entity, whether funded, insured or self-funded or whether written or oral (it
being understood that references to the Company and its Subsidiaries in this
definition shall be without giving effect to the Brink Acquisition or the
Ancillary Transactions).

          "BRINK TAX AUDIT" means the item identified under the heading "Brink
International" in Schedule 4.13(e).

          "BUSINESS" means the business as conducted by the Company, through
Subsidiaries, joint ventures, consortiums or other arrangements, relating to the
manufacturing,

                                       A-2
<Page>

distribution or provision of towing and rack systems, trim, rails and exterior
accessories for the automotive original equipment manufacturer market and the
automotive aftermarket and secondary market (it being understood that references
to the Company and its Subsidiaries in this definition shall be as of
immediately prior to the Closing Date and without giving effect to the
Transaction).

          "BUSINESS DAY" shall mean any day except a Saturday, a Sunday or any
other day on which commercial banks are required or authorized to close in New
York, New York.

          "BUYER SCHEDULED INDEMNIFIABLE LIABILITIES" means each of the items
set forth on Schedule 9.3(f).

          "BUYER TAXES" shall mean any Pre-Closing Tax or Interim Period Tax
that would not have been imposed on the Company, a Subsidiary of the Company or
any Seller but for (i) the occurrence of the Ancillary Transactions or (ii) any
action taken by the Company or any of its Subsidiaries at the direction of the
Buyer after the occurrence of the Closing that is not in the ordinary course of
business except, in each case, for any such Tax that would not have been imposed
but for the breach or inaccuracy of any representation or warranty of the
Company in Article IV of the Agreement or any covenant made by the Company in
this Agreement (it being understood for this purpose that the Company shall not
be deemed to have made any representation or warranty under Section 4.13 hereof
as to the treatment of intercompany accounts).

          "CASH EQUIVALENTS" shall mean (a) United States dollars, (b) cash
denominated in foreign currencies based upon the exchange rate set forth in the
Wall Street Journal on the Closing Date or other relevant date of determination,
(c) securities issued or directly and fully guaranteed or insured by the United
States government or any agency or instrumentality thereof having maturities of
not more than one year from the date of acquisition, (d) certificates of deposit
with maturities of one year or less from the date of acquisition, bankers'
acceptances with maturities not exceeding one year, and overnight bank deposits,
in each case, with any Eligible Institution, (e) commercial paper rated, "P-1,"
"A-1" or the equivalent thereof by Moody's or S&P, respectively, and in each
case maturing within 180 days after the date of acquisition, (f) shares of money
market funds that invest solely in United States dollars and securities of the
types described in clauses (c) through (e), and (h) demand and time deposits and
certificates of deposit with an Eligible Institution or with commercial banks
insured by the Federal Deposit Insurance Corporation; PROVIDED, that the face
amount of any outstanding uncashed checks written by (i) with respect to any
determination to be made in respect of periods, on or prior to the Closing, the
Company or any of its Subsidiaries and (ii) with respect to any determination to
be made in respect of periods after the Closing, the Buyer and its Subsidiaries,
shall be deducted in the determination of Cash Equivalents to the extent not
otherwise treated as a current liability in Adjusted Working Capital or any
other relevant determination.

          "CASTLE HARLAN GROUP" means CHP IV, CHI and any other accounts or
funds managed by CHI or any Affiliate of CHI (other than the Buyer and its
Subsidiaries).

          "CHANGE IN CONTROL" means the initial event or series of events, other
than, for the avoidance of doubt, the Transaction, in which:

                                       A-3
<Page>

          (a)     any Persons who are not Equityholders as of the Closing Date
shall become the direct or indirect beneficial owners (within the meaning of
Section 13(d) of the Exchange Act) of equity interests in the Buyer which
represent a majority of the voting power of all classes of equity interests of
the Buyer taken together as one class, except pursuant to an underwritten Public
Offering of such equity interests by the Buyer; or

          (b)     there shall occur a sale or other disposition of all or
substantially all of the assets of the Buyer, other than to the Buyer and/or to
one or more Subsidiaries of the Buyer that are and that remain a corporation,
partnership, association or other business entity of which securities or other
ownership interests representing more than 50% of the equity and more than 50%
of the ordinary voting power or more than 50% of the general partnership
interests are owned by the Buyer or any Subsidiaries of the Buyer; or

          (c)     so long as no Change in Control has occurred under clauses (a)
or (b) above at such time, CHP IV, John K. Castle or Leonard M. Harlan shall
cease to have the right to designate and elect a majority of the members of the
Board of Managers of the Buyer; or

          (d)     a CHP IV Distribution has occurred.

          "CHI" means Castle Harlan, Inc., a Delaware corporation.

          "CHP IV" means Castle Harlan Partners IV, L.P., a Delaware limited
partnership.

          "CHP IV DISTRIBUTION" shall mean the distribution by CHP IV of all of
its equity interests in the Buyer (or the securities issued in respect thereof
or in exchange therefor) to its limited partners, other than by reason of the
dissolution, liquidation or termination of CHP IV.

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

          "COMMON UNITS" means the Buyer's common units and any other equity
interests of the Buyer, the holders of which have the right, without limitation
as to amount, either to all or to a share of the balance of current dividends
and liquidating dividends after the payment of dividends and distributions on
any equity interests entitled to a preference.

          "COMPANY INTELLECTUAL PROPERTY" means all Intellectual Property used
in, held for use in, or otherwise reasonably necessary for the operation of, the
Business as currently conducted or contemplated.

          "COMPANY SECURITIES" means, collectively, the Units, Warrants and
Options.

          "COMPANY TRANSACTION EXPENSES" shall mean the aggregate amount of fees
and expenses payable by the Company or any of its Subsidiaries (and, pursuant to
this Agreement, if the Closing occurs, the Sellers) that are due and unpaid at
Closing to First Union Securities, Inc., PricewaterhouseCoopers, LLP, O'Melveny
& Myers LLP, Honigman, Miller, Schwartz & Cohn LLP, and other legal, financial,
accounting and auditing advisors to the Company or its Subsidiaries and the
Sellers.

          "CONSISTENTLY APPLIED" has the meaning set forth on Exhibit J.

                                       A-4
<Page>

          "CONTINGENT PAYMENT AMOUNT" means $10,000,000.

          "CONTINGENT PAYMENT MEASUREMENT PERIOD" means any of the First
Contingent Payment Measurement Period, the Second Contingent Payment Measurement
Period and the Third Contingent Payment Measurement Period, as applicable.

          "CONTRACT" means, whether oral or in writing, any agreement, note,
bond, mortgage, indenture, lease, Real Property Lease, Intellectual Property
Contract or other contract.

          "CONTROLLED AFFILIATE" of any Person means any other Person with
respect to which (a) the first Person directly or indirectly beneficially owns a
majority of the participating or common equity securities or interests of such
other Person or a majority of the interests in the profits of such other Person,
(b) a majority of the board of directors (or similar governing body) of which
are elected or appointed, directly or indirectly, by the first Person or (c) the
first Person directly or indirectly beneficially owns a majority of the
securities or interests having the right to elect or appoint directors (or
equivalent governing Persons) of such Person (or in the case of a Person which
is not a corporation, having the equivalent voting power).

          "DESIGNATED CHP SALE" means a sale of equity interests or assets,
directly or indirectly, of the Buyer, in a single transaction or a series of
related transactions, that does not constitute a Change in Control under clauses
(a) or (b) of such definition in which the Castle Harlan Group sells to one or
more unaffiliated third parties or, in the context of an asset sale where
proceeds therefrom are distributed to member(s) of the Castle Harlan Group,
where Castle Harlan Group member(s) receive payments (excluding in all cases,
tax distributions and management fees paid or payable to members of the Castle
Harlan Group) in respect of its equity interests in the Buyer, whether in the
form of distributions, the redemption of equity interests, or the repayment or
prepayment of Indebtedness held by members of the Castle Harlan Group that is,
by its terms, convertible into or exercisable or exchangeable for equity
securities of the Buyer or any of its Subsidiaries but excluding in all cases
Indebtedness under the CHP IV Convertible Bridge Note outstanding on the date
hereof, with a dollar value equal to at least one-third of its economic equity
interest, whether in the form of Common Units, Preferred Units or otherwise, in
the Buyer or any of its Subsidiaries as of the date of the sale (when combined
with prior sales), it being understood and agreed that, for the avoidance of
doubt, any benefit to the Buyer or any of its Subsidiaries arising from any
Designated CHP Sale, including an increase in cash or Cash Equivalents or
reduction in Indebtedness of the Buyer or any of its Subsidiaries, shall not
constitute an "indirect" dividend, distribution or proceed to any member of the
Castle Harlan Group; PROVIDED, HOWEVER, that in determining whether such
one-third threshold has been satisfied, the value of the interests of the Castle
Harlan Group shall be calculated based on the value allocated to such interests
at the time such interests were sold in the Designated CHP Sale (with all
interests of the same kind that were not sold in the Designated CHP Sale being
calculated on the same basis) or, for any portion of the equity interests that
has not been attributed a value that may be clearly extrapolated from the
express provisions of the agreements or instruments governing the Designated CHP
Sale, the price allocated to such interests at the time acquired.

          "DESIGNATED PUBLIC OFFERING" means a Public Offering that does not
constitute a Change in Control in which or in connection with which the Castle
Harlan Group has sold or has

                                       A-5
<Page>

redeemed at least one-third of its economic equity interest, whether in the form
of Common Units, Preferred Units or otherwise, in the Buyer or any of its
Subsidiaries, (when combined with prior sales) as of the date of the Designated
Public Offering; PROVIDED, HOWEVER, that in determining whether such one-third
threshold has been satisfied, the value of the interests of the Castle Harlan
Group shall be calculated based on the price allocated to any such interests at
the time such interests were sold or redeemed in, or in connection with, the
Designated Public Offering (with all interests of the same kind that were not
sold in the Designated Public Offering being calculated on the same basis or,
for any portion of the equity interests that have not been attributed a value
that may be clearly extrapolated from the express provisions of the agreements
or instruments governing the Designated Public Offering, the price allocated to
such interests at the time acquired).

          "DESIGNATED SELLERS" means, collectively, all of the Sellers, other
than JPMorgan and IPA MTech Investments, LLC.

          "DETERMINATION DATE" means the last day of each Contingent Payment
Measurement Period; PROVIDED, that in the event of a Liquidity Event, the
"Determination Date" shall mean the date that such Liquidity Event occurs.

          "ELIGIBLE INSTITUTION" means a commercial banking institution that has
combined capital and surplus of not less than $500 million and that is rated "A"
(or higher) according to Moody's or S&P at the time as of which any investment
or rollover therein is made.

          "ENVIRONMENTAL CLAIMS" means any complaint, summons, citation, notice,
directive, order, claim, litigation, investigation, notice of violation,
judicial or administrative proceeding, judgment, letter or communication from
any Governmental Entity, or any third party involving actual or alleged
violations of Environmental Laws, Handling of Hazardous Materials, or Releases
of Hazardous Materials from or onto (a) any assets, properties or businesses of
the Company or any of its Subsidiaries or any predecessor in interest, as of
immediately prior to the Closing Date and without giving effect to the
Transaction; (b) from or onto adjoining properties or businesses; or (c) from or
onto any facilities which received Hazardous Materials generated or Handled by
the Company or any of its Subsidiaries or any predecessor in interest, as of
immediately prior to the Closing Date and without giving effect to the
Transaction.

          "ENVIRONMENTAL LAWS" includes, without limitation, the Comprehensive
Environmental Response, Compensation and Liability Act ("CERCLA"), 42 U.S.C.
9601 et seq., as amended; the Resource Conservation and Recovery Act ("RCRA"),
42 U.S.C. 6901 et seq., as amended; the Clean Air Act ("CAA"), 42 U.S.C. 7401 et
seq., as amended; the Clean Water Act ("CWA"), 33 U.S.C. 1251 et seq., Toxic
Substances Control Act ("TOSCA"), 15 U.S.C. 2601 et seq., as amended; the
Federal Insecticide Fungicide and Rodenticide Act ("FIFRA") 7 U.S.C., 136 et
seq., as amended; the Emergency Planning and Community Right to Know Act (Title
III of SARA or "EPCRA"), 42 U.S.C. 11001 et seq., as amended; the Occupational
Safety and Health Act ("OSHA"), 29 U.S.C. 655 et seq., and any other federal,
provincial, state, local, municipal or foreign law, treaty, judicial decision,
regulation, statute, rule, judgment, order, decree, injunction, permit or
governmental restriction, other law or subordinate legislation or common law,
ordinances, or regulatory codes of practice and equivalent controls, imposing
liability or establishing standards of conduct for Handling of Hazardous
Materials and the

                                       A-6
<Page>

protection of health, safety and the environment or which have as a purpose or
effect the protection or prevention of harm to the environment which are binding
in relation to the business, facilities, operations, properties, assets and/or
upon the Company and its Subsidiaries in any relevant jurisdiction in which the
Company and its Subsidiaries has been or is operating (including by the export
of its products, or its waste thereto) on or before Closing.

          "ENVIRONMENTAL LIABILITIES" means any monetary obligations, losses,
liabilities (including strict liability), damages, punitive damages,
consequential damages, treble damages, costs and expenses (including all
reasonable out-of-pocket fees, disbursements and expenses of counsel,
out-of-pocket expert and consulting fees and out-of-pocket costs for
environmental site assessments, remedial investigation and feasibility studies),
fines, penalties, sanctions and interest incurred as a result of any
Environmental Claim filed by any Governmental Entity, Person or any third party
which relate to any violations of Environmental Laws, Handling of Hazardous
Materials, Remedial Actions, Releases or threatened Releases of Hazardous
Materials from or onto (a) any property presently or formerly owned by the
Company or any of its Subsidiaries or a predecessor in interest, or (b) any
facility that received Hazardous Materials that were generated or Handled by the
Company or any of its Subsidiaries or a predecessor in interest.

          "ENVIRONMENTAL LIEN" means any Lien in favor of any Governmental
Entity for Environmental Liabilities.

          "ENVIRONMENTAL PERMITS" means any permits, licenses, certificates,
exemptions, authorizations, registrations, consents, orders, filings, reporting
or notice requirements, or approvals and any related agreement required by any
Governmental Entity or under Environmental Laws.

          "EQUITYHOLDERS" means holders of equity interests of the Buyer or any
member of the Castle Harlan Group and their respective Affiliates, but only to
the extent the foregoing hold interests in the Buyer, the voting control over
which interests is vested with an officer, director or senior employee of CHI.

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

          "ERISA AFFILIATE" means any entity which, together with the Sellers or
the Buyer, as the case may be, would be treated as a single employer under
Section 414(b), (c), (m) or (o) of the Code.

          "ESCROW AGREEMENT " means the escrow agreement among the Buyer, the
Sellers' Representative and U.S. Bank & Trust Company, N.A. in substantially the
form attached as Exhibit L hereto, as may be amended, modified or supplemented
from time to time.

          "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

          "FAIR VALUE" means, on any date specified herein (a) in the case of
cash, the dollar amount thereof, (b) in the case of a security admitted for
trading on any national securities

                                       A-7
<Page>

exchange or quoted in the over-the-counter market, the Market Price, (c) in the
case of securities or property subject to a sale agreement, the implied fair
market value thereof, to the extent such value may be clearly extrapolated from
the express provisions of the agreements or instruments governing the sale or
disposition of such securities or property and (d) in all other cases, the fair
market value thereof as determined in good faith by the Buyer and consistent
with the methodology used by CHP IV in reporting fair market value to its
limited partners.

          "FIRST CONTINGENT PAYMENT MEASUREMENT PERIOD" means the period
commencing on January 1, 2003 and ending on December 31, 2003.

          "FOREIGN PENSION PLAN" means any plan, fund (including, without
limitation, any superannuation fund) or other similar program established or
maintained by the Company, any Subsidiary of the Company or any of the Company's
Affiliates outside the United States of America for the benefit of employees of
the Company or any of the Subsidiaries of the Company, as of immediately prior
to the Closing Date without giving effect to the Transaction, residing outside
the United States of America, which fund or similar program provides, or results
in, retirement income, a deferral of income in contemplation of retirement or
payments to be made upon termination of employment, and which plan is not
subject to ERISA or the Code.

          "FRENCH FACILITY DISPOSITION " means the sale or disposition of the
Company's real properties and buildings located at 49 route de Reims, Betheny
(Marne) pursuant to the agreements and instruments attached to Schedule 4.33
hereto.

          "FRENCH FACILITY BUILDING SALE/LEASEBACK TRANSACTION" means the
transaction pursuant to which SFEA Altus SARL sold the building constructed at
the facility located at Plots 28 and 29, Les Naux, Betheny (Marne) Zone
D'Activite and leased or rented such buildings pursuant to a leasing
arrangement, the obligations under which shall constitute Indebtedness
hereunder, all in accordance with the agreements and instruments attached to
Schedule 4.33 hereto.

          "FRENCH FACILITY EQUIPMENT SALE/LEASEBACK TRANSACTION" means the sale
by SFEA Altus SARL of the equipment purchased by the Company or any of its
Subsidiaries prior to or after Closing for use at the facility located at Plots
28 and 29, Les Naux, Betheny (Marne) Zone D'Activite and the subsequent leasing
of such equipment, all in accordance with the agreements and instruments
attached to Schedule 4.33 hereto.

          "FULLY-DILUTED BASIS" means with respect to any Person, all
outstanding equity interests, whether vested or unvested and whether or not
subject to a repurchase agreement and after giving effect to any additional
equity interests of such Person issued or issuable upon the exercise, conversion
or exchange of any options, warrants and other rights to acquire equity
interests of such Person outstanding (whether or not vested), on or immediately
prior to the Determination Date.

          "G3.0 MODEL RECALL" means the recall initiated by Volvo, Saab and
Volkswagen prior to the Closing Date as set forth on the respective recall
notices issued in or about July 2002.

          "GAAP" means US generally accepted accounting principles, Consistently
Applied.

                                       A-8
<Page>

          "GIBBS LITIGATION" shall mean the legal proceeding captioned GIBBS V.
ADVANCED ACCESSORY SYSTEMS, LLC, pending on appeal in the United States Court of
Appeals for the Sixth Circuit, Docket No. 01-1740, from the matter captioned
GIBBS V. ADVANCED ACCESSORY SYSTEMS, LLC in the United States District Court for
the Eastern District of Michigan, Case Nos. 96-cv-71458 and 96-cv-73954 and any
cause of action, suit, demand or claim (whether at law or in equity) or any
proceeding resulting from a remand or reversal thereof or appeal therefrom.

          "GOVERNMENTAL AUTHORIZATION" shall mean any approval, license,
franchise, consent, concession, order, registration, permit, waiver, or other
authorization issued, granted, given, or otherwise made available by, from or
under the authority of any Governmental Entity or pursuant to any legal
requirement.

          "GOVERNMENTAL ENTITY" means any nation or government, any foreign,
federal, state, province, city, town, municipality, county, local or other
political subdivision thereof or thereto and any department, commission, court
or arbitrator of competent jurisdiction, stock exchange board, bureau,
instrumentality, agency, organization, self-regulatory authority or other entity
exercising executive, legislative, judicial, taxing, regulatory,
quasi-governmental or administrative powers or functions of or pertaining to
government.

          "HANDLED" means any manner of generating, accumulating, storing,
treating, disposing of, transporting, transferring, labeling, handling,
manufacturing or using, as any of such terms may further be defined in any
Environmental Law, of any Hazardous Materials.

          "HAZARDOUS MATERIALS" shall include, without regard to amount and/or
concentration (a) any element, compound, or chemical that is defined, listed,
regulated or otherwise classified as a contaminant, pollutant, irritant, toxic
pollutant, toxic or hazardous substances, extremely hazardous substance or
chemical under Environmental Laws; (b) any waste regulated, defined, listed or
otherwise classified by Environmental Laws, including, but not limited to
hazardous waste, agricultural waste, recyclable materials, sludge, used oils,
construction and demolition debris and solid waste, (c) petroleum,
petroleum-based or petroleum-derived products; (d) polychlorinated biphenyls;
(e) any natural or artificial substance exhibiting a hazardous waste
characteristic including but not limited to corrosivity, ignitibility, toxicity
or reactivity as well as any radioactive or explosive materials; and (f) any raw
materials, building components, including but not limited to asbestos-containing
materials and manufactured products containing Hazardous Materials.

          "HEDGING AGREEMENT" means any interest rate, foreign currency,
commodity or equity swap, collar, cap, floor or forward rate agreement, or other
agreement or arrangement designed to protect against fluctuations in interest
rates or currency, commodity or equity values (including, without limitation,
any option with respect to any of the foregoing and any combination of the
foregoing agreements or arrangements), and any confirmation executed in
connection with any such agreement or arrangement, all as amended, supplemented
or otherwise modified from time to time.

          "INCOME TAXES" means Taxes imposed upon, or measured by, net income.

                                       A-9
<Page>

          "INDEBTEDNESS" means, without duplication, with respect to any Person
and its Subsidiaries (a) all indebtedness for borrowed money, (b) all
obligations for the deferred purchase price of property and assets or services,
other than those incurred in the ordinary course of business; (c) all
obligations evidenced by notes, bonds, debentures or other similar instruments,
or upon which interest payments are ordinarily made, (d) all capitalized lease
obligations (including, in the case of the Company and its Subsidiaries, whether
or not treated as a capitalized lease obligation under GAAP, the amounts
representing the aggregate amount of the unpaid obligations under the lease
entered into in connection with the French Facility Building Sale/Leaseback
Transaction as set forth on Schedule 4.33), together with the accrued interest
thereon through the relevant date of determination, which amounts, as of the
Closing Date (and only for purposes of calculations made on such date) shall be
$7,063,382, representing the dollar equivalent of EURO 6,556,560 based on the
exchange rate set forth in Section 12.14, (e) all obligations under acceptance,
standby letters of credit or similar facilities, (f) all matured obligations to
purchase, redeem, retire, defease or otherwise make any payment in respect of
any membership interests, shares of capital stock or other ownership or profit
interest or any warrants, rights or options to acquire such membership
interests, shares or such other ownership or profit interest (it being
understood that, for purposes of this definition, redeemable warrants shall not
constitute Indebtedness until the holder of any such warrant is entitled by its
terms to require redemption thereof), (g) all obligations guaranteeing any
Indebtedness, leases, dividends or other obligations, of any other Person in any
manner, whether directly or indirectly, (h) all accrued interest of all
obligations referred to in (a) - (g) and (i) all obligations referred to in (a)
- (h) of a third-party secured by any Lien on property or assets; PROVIDED, that
Indebtedness shall exclude all intercompany Indebtedness among the Buyer and its
Subsidiaries and shall include any premium, penalty or fee in respect of the
payment, prepayment, defeasance, retirement or redemption of any Indebtedness,
whether or not required (which, for purposes of the 9 3/4% Notes, shall mean the
amount of the 4 7/8 premium associated with the redemption of the 9 3/4% Notes
pursuant to Article III of the Indenture); PROVIDED, FURTHER, that the amount of
the "other non-current assets" specifically referenced in subsection (j) of the
definition of Net Indebtedness, representing on the Closing Date the dollar
equivalent of EURO 862,872 (and only for purposes of calculations made on such
date) hereunder outstanding on any relevant date of determination arising with
respect to the French Facility Building Sale/Leaseback Transaction, together
with accrued and unpaid interest thereon through the relevant date of
determination, shall reduce the amount of Indebtedness in any relevant
determination of Indebtedness after the Closing Date. For the avoidance of
doubt, any unfunded portion (whether or not recorded in the books and records of
the Company and its Subsidiaries) of any pension plan of the Company and its
Subsidiaries, whether a U.S. Benefit Plan covered by Title IV of ERISA or a
Foreign Pension Plan, shall not be considered part of Indebtedness.

          "INDENTURE" means that certain Indenture, dated as of October 1, 1997,
among the Company and AAS Capital, as Issuers, the guarantors named therein,
First Union National Bank, as Trustee, as amended, modified or supplemented from
time to time.

          "INTELLECTUAL PROPERTY" means all domestic and foreign trademarks,
service marks, brand names, d/b/a's, Internet domain names, business names,
logos, symbols, trade dress, assumed names, fictitious names, trade names, all
other indicia of origin, and all goodwill in connection with the foregoing;
patents (including renewals, extensions and reissues), inventions (whether
patentable or not), confidential and proprietary information, trade secrets,
know-how,

                                      A-10
<Page>

databases, customer lists, vendor and supplier lists; published and unpublished
works of authorship, and copyrights (including renewals, extensions,
restorations and reversions); and all applications (including divisions,
continuations and continuations-in-part) and registrations for the foregoing,
and all other intellectual property or proprietary rights.

          "INTERIM PERIOD" means, with respect to any Straddle Period, the
portion of such Straddle Period that begins on the first day of such Straddle
Period and that ends on the Closing Date.

          "INTERIM PERIOD TAXES" means, with respect to any Straddle Period,
Taxes attributable to the Interim Period which shall be deemed to equal: (a) in
the case of Taxes that are based upon or related to income or receipts, the
amount that would be payable if the Straddle Period had ended on the Closing
Date and the books of the Company and each of its Subsidiaries were closed as of
the close of such date; (b) in the case of Taxes imposed on specific
transactions or events, Taxes imposed on specific transactions or events
occurring on or before the Closing Date; and (c) in the case of Taxes imposed on
a periodic basis, or in the case of any other Taxes not covered by clause (a) or
clause (b), the amount of such Taxes for the entire Straddle Period multiplied
by a fraction (i) the numerator of which is the number of calendar days in the
Interim Period and (ii) the denominator of which is the number of calendar days
in the entire Straddle Period.

          "IRR" means the compounded internal rate of return to the Castle
Harlan Group with respect to its investment in the Buyer and its Subsidiaries
calculated for the period from the Closing to any Determination Date, based on
the Original Equity Value, any Subsequent Equity Contribution and the Total
Castle Harlan Group Equity Value (as though such Total Castle Harlan Group
Equity Value were paid in full to the Castle Harlan Group on the relevant
Determination Date), based on the following equation:

          Total Castle Harlan Group Equity Value = ((1 + IRR)(TO THE POWER OF n)
X Original Equity Value) + ((1 + IRR)(TO THE POWER OF s) X Subsequent Equity
Contribution) - ((1+IRR)(TO THE POWER OF t) X dividends, distributions on equity
or redemption proceeds in respect of capital stock or other equity securities
received, directly or indirectly, by the Castle Harlan Group (excluding in all
cases, tax distributions and management fees paid or payable to members of the
Castle Harlan Group pursuant to the Management Agreement, it being understood
and agreed that, for the avoidance of doubt, any event or transaction inuring to
the benefit of the Buyer or any of its Subsidiaries, including an increase in
cash or Cash Equivalents or reduction in Indebtedness of the Buyer or any of its
Subsidiaries, shall not constitute an "indirect" dividend, distribution or
proceed to any member of the Castle Harlan Group)

          where n is the number of whole months from the date of Closing to the
Determination Date, s is the number of whole months from the date of the
applicable Subsequent Equity Contribution by the Castle Harlan Group in the
Buyer or any of its Subsidiaries, without duplication, to the Determination Date
and t is the number of whole months from the date of such dividend, distribution
or redemption to the Determination Date.

          Furthermore, for purposes of calculating the Yearly Contingent
Payment, the IRR shall be calculated by assuming (i) that the Yearly Allocable
Contingent Payment becomes

                                      A-11
<Page>

Yearly Contingent Payment on a dollar by dollar basis so that the Yearly
Allocable Contingent Payment will actually become Yearly Contingent Payment to
the extent of that portion of the Yearly Allocable Contingent Payment that
permits the IRR Target to be satisfied and (ii) that any equity interests of the
Buyer, the vesting of which is contingent upon the Castle Harlan Group achieving
a designated internal rate of return on its investment in the Buyer, shall be
deemed to have fully vested as of the relevant Determination Date.

          "IRR TARGET" means an IRR of 2.210445059% per month (or portion
thereof) from the Closing Date to the Determination Date.

          "IRS" means the United States Internal Revenue Service.

          "JP MORGAN" means J. P. Morgan Partners (23A SBIC), LLC.

          "KNOWLEDGE OF THE BUYER" means the actual knowledge of any executive
officer of the Buyer.

          "KNOWLEDGE OF THE COMPANY" means the actual knowledge as of the date
of this Agreement of Terence Seikel, Barry Steele, Richard Borghi, Bryan
Fletcher, Wim Rengelink, Gerrit DeGraaf, Barbara Rushing, Corina Koenders-de
Rijke, Paulette Brinker and Tom McMillan.

          "LAW" means any statute, law, constitutional provision, code,
regulation, ordinance, rule, ruling, judgment, decision, order, writ,
injunction, decree, permit, concession, grant, franchise, license, agreement,
directive, binding guideline or policy or rule of common law, requirement of, or
other governmental restriction of or determination by any Governmental Entity or
any interpretation of any of the foregoing by any Governmental Entity; PROVIDED,
that references to a Person's compliance with Law (or similar formulations)
shall include only those Laws with which such Person is required to comply.

          "LIEN" means any preemptive right, mortgage, restriction on voting or
transfer or any pledge, lien (statutory or otherwise), usufruct, hypothetical
assignment for security, "claim" (as such term is used in this context outside
of the United States), preference priority charge, hypothecary, encumbrance or
security interest of any kind.

          "LIQUIDITY EVENT PAYMENT" means the maximum amount of the total
portion of the Contingent Payment Amount that has not been previously earned by
or paid to the Sellers, whether in cash or in the form of Contingent Payment
Notes, as of the Determination Date, that, if paid to the Sellers as of the
Determination Date in accordance with the terms of this Agreement would yield an
IRR no lower than the IRR Target for the period from the Closing Date to the
Determination Date.

          "MANAGEMENT AGREEMENT " means the management agreement among the
Buyer, the Company and CHI, as may be amended, modified or supplemented from
time to time.

          "MARKET PRICE" means, on any date specified herein with respect to any
securities, the amount per share of the securities, equal to (a) the last
reported sale price of such securities, regular way, on such date or, in case no
such sale takes place on such date, the average of the

                                      A-12
<Page>

closing bid and asked prices thereof regular way on such date, in either case as
officially reported on the principal national securities exchange on which such
securities are then listed or admitted for trading, (b) if such securities are
not then listed or admitted for trading on any national securities exchange but
are designated as a national market system security by the National Association
of Securities Dealers ("NASD"), the last reported trading price of such
securities on such date, or (c) if there shall have been no trading on such date
or if the securities are not so designated, the average of the closing bid and
asked prices of such securities on such date as shown by the NASD automated
quotation system.

          "MATERIAL ADVERSE EFFECT" means, without giving effect to the Brink
Acquisition or the Ancillary Transactions, a material adverse effect on the
business, operations, properties, financial condition, assets or results of
operations of the Company and its Subsidiaries taken as a whole; PROVIDED,
HOWEVER, that any such material adverse effect due to a deterioration in the
economy in general or the industry in which any of the Company or its
Subsidiaries is engaged shall not be a Material Adverse Effect.

          "NET BUILDING SALE/LEASEBACK PROCEEDS" means, with respect to the
French Facility Building Sale/Leaseback Transaction, the net cash proceeds
actually payable to the Company or any of its Subsidiaries, without duplication,
from the French Facility Building Sale/Leaseback Transaction, less the sum of
(a) all out-of-pocket expenses and costs associated with the French Facility
Building Sale/Leaseback Transaction, including underwriting commissions and
legal, investment banking, brokerage and accounting and other professional fees,
sales commissions and other out-of-pocket expenses and disbursements incurred in
connection with the French Facility Building Sale/Leaseback Transaction, (b) all
Taxes actually paid, assessed or estimated by the Company (in good faith) to be
payable by the Company or any of its Subsidiaries in connection with the French
Facility Building Sale/Leaseback Transaction (without offset for any losses or
other benefits that would minimize or eliminate such Taxes) and (c) any
Indebtedness and other payments required to be repaid or made in connection with
the French Facility Building Sale/Leaseback Transaction other than Indebtedness
that was required to be repaid under the Credit Agreement or the Indenture in
connection therewith.

          "NET DISPOSITION PROCEEDS" means $693,118, the dollar equivalent of
EURO 643,384.39 based on the exchange rate set forth in Section 12.14,
representing the cash proceeds actually payable to the Company or its
Subsidiaries, without duplication, from the French Facility Disposition, less
the sum of (a) all out-of-pocket expenses and costs associated with such French
Facility Disposition, including underwriting and broker commissions and legal,
investment banking, brokerage and accounting and other professional fees, sales
commissions and other out-of-pocket expenses and disbursements incurred in
connection with such French Facility Disposition, (b) all Taxes actually paid,
assessed or estimated by the Company (in good faith) to be payable by the
Company or any of its Subsidiaries in connection with such French Facility
Disposition (without offset for any losses or other benefits that would minimize
or eliminate such Taxes), (c) any Indebtedness and other payments that were
required to be repaid or made in connection with the French Facility
Disposition, other than Indebtedness that was required to be repaid under the
Credit Agreement or the Indenture in connection therewith and (d) any deferred
portion of the net cash proceeds payable to the Company or its Subsidiaries from
the French Facility Disposition, including any amount held in escrow or a
restricted account of the

                                      A-13
<Page>

Company or its Subsidiaries, that has not been actually paid to the Company or
any of its Subsidiaries on or prior to the Closing Date.

          "NET EQUIPMENT SALE/LEASEBACK PROCEEDS" means, with respect to any
French Facility Equipment Sale/Leaseback Transaction, the net cash proceeds
actually payable to the Company or any of its Subsidiaries, without duplication,
from such French Facility Equipment Sale/Leaseback Transaction, less the sum of
(a) all out-of-pocket expenses and costs associated with such French Facility
Equipment Sale/Leaseback Transaction , including underwriting commissions and
legal, investment banking, brokerage and accounting and other professional fees,
sales commissions and other out-of-pocket expenses and disbursements incurred in
connection with such French Facility Equipment Sale/Leaseback Transaction, (b)
all Taxes actually paid, assessed or estimated by the Company (in good faith) to
be payable by the Company or any of its Subsidiaries in connection with such
French Facility Equipment Sale/Leaseback Transaction (without offset for any
losses or other benefits that would minimize or eliminate such Taxes), (c) any
Indebtedness and other payments that were required to be repaid or made in
connection with the French Facility Equipment Sale/Leaseback Transaction other
than Indebtedness that was required to be repaid prior to the Closing under the
Credit Agreement or Indebtedness required to be repaid after the Closing under
any Buyer Credit Agreement and (d) any deferred portion of the net cash proceeds
payable to the Company or its Subsidiaries from the French Facility Equipment
Sale/Leaseback Transaction, including any amount held in escrow, that has not
been actually paid to the Company or its Subsidiaries on or prior to the Closing
Date.

          "NET INDEBTEDNESS" shall mean, as of the Closing Date, and without
giving effect to the Brink Acquisition or the Ancillary Transactions, (a)
Indebtedness of the Company and its Subsidiaries, MINUS (b) Cash Equivalents of
the Company and its Subsidiaries, (less the excess, if any, of the Net Equipment
Sale/Leaseback Proceeds actually received by the Company or any of its
Subsidiaries on or prior to the Closing Date (without giving effect to the Brink
Acquisition or the Ancillary Transactions) over EURO 2,000,000 as set forth on
Schedule 4.33), MINUS (c) the aggregate amount payable to the Company at Closing
as set forth in Section 2.6(b), PLUS (d) Company Transaction Expenses, MINUS (e)
the aggregate actual or deemed exercise price of all Options, other than
Rollover Options MINUS (f) all intercompany Indebtedness reflected in
Indebtedness as such, MINUS (g) to the extent included in Indebtedness, the
redemption price under the Warrants to the extent the Warrants are purchased by
the Buyer in accordance with the terms hereof, MINUS (h) the aggregate stated
amount under any letters of credit, including the Gibbs Letter of Credit, PLUS
(i) 50% of the Net Disposition Proceeds MINUS (j) the amount of the "other
non-current assets" outstanding on the Closing Date and designated on Schedule
4.33 arising with respect to the French Facility Building Sale/Leaseback
Transaction in an amount equal to $929,572, representing the dollar equivalent
of EURO 862,872 based on the exchange rate set forth in Section 12.14.

          "NET PURCHASE PRICE" shall mean the Aggregate Consideration MINUS Net
Indebtedness.

          "NEW OPTIONS" means options to purchase New Units issued hereunder in
exchange for Rollover Options and subject to the New Option Agreement relating
to such New Option.

                                      A-14
<Page>

          "ORGANIZATIONAL DOCUMENTS" means (a) the memorandum, articles and/or
certificate of incorporation and/or association and the bylaws of a corporation;
(b) the partnership agreement and any statement of partnership of a general
partnership; (c) the limited partnership agreement and the certificate of
limited partnership of a limited partnership; (d) any charter or similar
document adopted or filed in connection with the creation, formation or
organization of a Person, including, with respect to a limited liability
company, its member and/or operating agreement; and (e) any amendment to the
foregoing.

          "ORIGINAL EQUITY VALUE" means the amount invested as equity, directly
or indirectly, whether in the form of Common Units, Preferred Units or
otherwise, in the Buyer by the Castle Harlan Group as of the Closing Date.

          "PENSION PLAN" shall have the meaning set forth under the definition
of Benefit Plan.

          "PER UNIT CASH PURCHASE PRICE" shall mean the quotient obtained by
dividing: (a) the Net Purchase Price minus the $10,000,000 representing the
aggregate principal amount of the Promissory Notes by (b) the aggregate number
of Company Securities outstanding immediately prior to the Closing (treating
each Warrant and Option as the full number of Units into which they are
exercisable as of the Closing without giving effect to any cashless or net
exercise payment feature in any Warrant or Option).

          "PERCENTAGE INTERESTS" means, with respect to each Seller, the
percentage of the issued and outstanding Company Securities owned by such Seller
immediately prior to the Closing (treating each Warrant and Option as the full
number of Units into which they are exercisable as of the Closing, without
giving effect to any cashless or net exercise option) as set forth on Schedule A
hereto.

          "PERMITTED LIENS" means any Liens (a) for a liability reflected or
referred to in the December 31, 2002 Audited Financial Statements, (b) for a
liability referred to on the Schedules, (c) for Taxes that are (i) not yet due
or payable or delinquent or (ii) being contested in good faith, (d) zoning,
building and other similar governmental restrictions and liens imposed by
operation of Law (including, without limitation, mechanics', carriers',
workmen's, repairmen's, landlord's and other similar liens arising from or
incurred in the ordinary course of business and for which the underlying
payments are not yet delinquent), or (e) any non-monetary encumbrances affecting
the Owned Real Property or Leased Real Property that could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

          "PERSON" means an individual, a corporation, a limited liability
company, a partnership, an association, a trust or any other entity or
organization, including a Governmental Entity.

          "POST-CLOSING PERIOD" means any Taxable Period that ends after the
Closing Date (including the portion of a Straddle Period that constitutes a
Post-Interim Period).

          "POST-CLOSING TAXES" means Taxes attributable to a Post-Closing Period
(including Post-Interim Period Taxes).

                                      A-15
<Page>

          "POST-INTERIM PERIOD" means, with respect to any Straddle Period, the
portion of such Straddle Period that begins on the Closing Date and that ends on
the last day of such Straddle Period.

          "POST-INTERIM PERIOD TAXES" means, with respect to any Straddle
Period, all Straddle Period Taxes other than Interim Period Taxes.

          "PRE-CLOSING PERIOD" means any Taxable Period that ends on or before
the Closing Date (not including the portion of a Straddle Period that
constitutes an Interim Period).

          "PRE-CLOSING TAXES" means Taxes attributable to a Pre-Closing Period
(not including Interim Period Taxes).

          "PREFERRED UNITS" means the Buyer's preferred units and any other
equity interests of the Buyer which entitle the holder thereof to a preference
with respect to the payment of dividends or distributions, or as to the
liquidating dividends or distribution of assets upon any voluntary or
involuntary liquidation or dissolution of the Buyer, over the Common Units.

          "PROMISSORY NOTES" means the promissory notes issued by the Promissory
Note Obligors having an aggregate principal amount of $10,000,000, in
substantially the form attached as Exhibit F hereto.

          "PUBLIC OFFERING" shall mean a public offering of equity interests of
the Buyer or any of its Subsidiaries or any of their successors.

          "PURCHASED COMPANY SECURITIES" means all of the Company Securities,
excluding the Rollover Securities.

          "REGISTERED" means issued, registered, renewed or the subject of a
pending application.

          "RELEASE" means any spilling, leaking, pumping, emitting, emptying,
discharging, injecting, escaping, leaching, migrating, dumping, or disposing of
Hazardous Materials (including the abandonment or discarding of barrels,
containers or other closed receptacles containing Hazardous Materials) into the
environment in violation of any Environmental Law.

          "REMEDIAL ACTION" means all actions taken to (a) clean up, remove,
remediate, contain, treat, monitor, assess, evaluate or in any other way address
Hazardous Materials in the indoor or outdoor environment; (b) prevent or
minimize a Release or threatened Release of Hazardous Materials so they do not
migrate or endanger or threaten to endanger public health or welfare or the
indoor or outdoor environment; (c) perform pre-remedial studies and
investigations and post-remedial operation and maintenance activities; or (d)
any other actions authorized by 42 U.S.C. 9601.

          "RESERVE ACCOUNT PERCENTAGE INTEREST" means with respect to each
Seller (other than the Seller's Representative) the amount expressed as a
percentage obtained by dividing: (a) such Seller's Percentage Interest by (b)
the aggregate amount of all Percentage Interests of all Sellers (other than that
of the Sellers' Representative).

                                      A-16
<Page>

          "ROLLOVER OPTIONS" means the Options held by the Rollover Sellers
designated under the heading "Rollover Options" as set forth on Schedule A
hereto.

          "ROLLOVER SECURITIES" means, collectively, the Rollover Units and the
Rollover Options.

          "ROLLOVER SELLERS" means the Sellers as set forth on Schedule A, to
the extent of their Rollover Securities.

          "SEC" means the Securities and Exchange Commission.

          "SECOND CONTINGENT PAYMENT MEASUREMENT PERIOD" means the period
commencing on January 1, 2004 and ending on December 31, 2004.

          "SECURITIES ACT" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.

          "SELLER SCHEDULED INDEMNIFIABLE LIABILITIES" means each of the items
set forth on Schedule 9.2(a)(v).

          "SENIOR BUYER CREDIT AGREEMENT " means the Credit Agreement dated as
of the date hereof, as amended, supplemented, modified, replaced or refinanced
from time to time, among SportRack, Valley , Brink B.V., various lenders from
time to time party thereto, and General Electric Capital Corporation as agent
for such lenders, together with any credit, financing, loan or other agreement
or instrument entered into in connection with the extension, refinancing,
substitution or replacement thereof.

          "STRADDLE PERIOD" means any Taxable Period of the Company or any of
its Subsidiaries that begins before and includes, but does not end on, the
Closing Date.

          "STRADDLE PERIOD TAXES" means Taxes attributable to a Straddle Period.

          "SUBSEQUENT EQUITY CONTRIBUTION" means, without duplication, the
amount of equity invested in the Buyer or any of its Subsidiaries by the Castle
Harlan Group, directly or indirectly, at any time after the date of Closing,
including Indebtedness issued to the Castle Harlan Group that is, by its terms,
convertible into, or exercisable or exchangeable for, equity securities of the
Buyer or any of its Subsidiaries.

          "SUBSIDIARY" means any Person more than 50% of the outstanding voting
or equity securities of which, or any partnership, joint venture or other entity
more than 50% of the total equity or other economic interest of which, is
directly or indirectly owned by another Person.

          "TARGET WORKING CAPITAL" means $55,000,000.

          "TAX" (or, when referring to more than one Tax, the term "TAXES")
includes any Federal, state, provincial, local or foreign net income, gross
income, net receipts, gross receipts, profit, capital, severance, property,
production, sales, use, license, excise, franchise,

                                      A-17
<Page>

employment, payroll, withholding, alternative or add-on minimum, AD VALOREM,
value-added, transfer, stamp, employment or other tax, custom, duty, fee or
other governmental charge of any kind, together with any interest, fine,
penalty, addition to tax or additional amount imposed with respect thereto.

          "TAX RETURN" means any return, report, statement or information
statement of any kind whatsoever required to be filed by the Company or any of
its Subsidiaries with any Taxing Authority.

          "TAXABLE PERIOD" means any taxable year or any other period with
respect to which any Tax may be imposed under any applicable statute, rule or
regulation.

          "TAXING AUTHORITY" means any governmental body or authority of any
kind whatsoever (whether federal, state, foreign, provincial, local, city or
otherwise) competent or authorized to impose any Tax.

          "TERMINATION DATE" means 11:59 p.m. New York City time on April 15,
2003.

          "THIRD CONTINGENT PAYMENT MEASUREMENT PERIOD" means the period
commencing on January 1, 2005 and ending on December 31, 2005.

          "TOTAL CASTLE HARLAN GROUP COMMON EQUITY VALUE" means, as of the
Determination Date, the product derived by multiplying (a) Total Common Equity
Value by (b) the Castle Harlan Group's percentage ownership interest in all
Common Units, on a Fully-Diluted Basis.

          "TOTAL CASTLE HARLAN GROUP EQUITY VALUE" means, as of the
Determination Date, the sum of (a) Total Castle Harlan Group Common Equity Value
plus (b) Total Castle Harlan Group Preferred Equity Value.

          "TOTAL CASTLE HARLAN GROUP PREFERRED EQUITY VALUE" means, as of the
Determination Date, the aggregate dollar amount that would be distributed in
respect of all Preferred Units held by all members of the Castle Harlan Group,
on a Fully-Diluted Basis, if the Buyer were liquidated on the Determination Date
in accordance with the terms of the Buyer's Operating Agreement.

          "TOTAL COMMON EQUITY VALUE" means, as of the Determination Date, the
difference between (a) Total Equity Value and (b) Total Preferred Equity Value;
provided, that if Total Equity Value is less than or equal to Total Preferred
Equity Value, then Total Common Equity Value shall be zero.

          "TOTAL EQUITY VALUE" means the equity value of the Buyer, as of the
Determination Date, calculated as follows:

          (i)     In the event that no Change in Control has occurred, the
following:

                  (A)   (5.65 x Adjusted Consolidated EBITDA for the relevant
                        Contingent Payment Measurement Period) less

                                      A-18
<Page>

                  (B)   all principal, interest, fees and premium, if any (to
                        the extent such premium would be payable (other than to
                        members of the Castle Harlan Group) on the relevant
                        Determination Date), on all Indebtedness of the Buyer or
                        its Subsidiaries recorded as such on the books and
                        records of the Buyer or its Subsidiaries (other than the
                        amount of any Subsequent Equity Contribution that is
                        also recorded as Indebtedness on the books and records
                        of the Buyer or its Subsidiaries and that is also
                        included as a Subsequent Equity Contribution in the
                        determination of IRR), (including, without limitation,
                        any Indebtedness represented by capital leases and
                        including any Contingent Payment Notes and Promissory
                        Notes) accrued and payable as of the relevant
                        Determination Date, excluding all Indebtedness
                        represented by the Gibbs Letter of Credit, to the extent
                        collateralized by the Sellers pursuant to Section 8.10
                        hereof, plus

                  (C)   an amount equal to the aggregate cash receivable by the
                        Buyer upon exercise, conversion or exchange of all
                        outstanding options, warrants and other securities
                        convertible into or exchangeable for equity interests of
                        the Buyer, which have not been so exercised, converted
                        or exchanged, as of the relevant Determination Date,
                        plus

                  (D)   all Cash Equivalents of the Buyer and its Subsidiaries
                        as of the relevant Determination Date, excluding
                        restricted cash that is not treated as a current asset
                        under GAAP, less

                  (E)   the Yearly Contingent Payment then being tested for the
                        relevant Contingent Payment Measurement Period, plus

                  (F)   without duplication, an amount equal to all net cash
                        payments from employees of the Buyer or any of its
                        Subsidiaries under notes issued by such employees to the
                        Buyer or any of its Subsidiaries in connection with such
                        employee's acquisition of equity interests in the Buyer
                        or any of its Subsidiaries.

          (ii)    In the event of a Change in Control, the following:

                  (A)   the Fair Value of the consideration received, without
                        duplication, for the sale of the equity interests sold
                        by all holders of equity interests in the Buyer or its
                        Subsidiaries (as of the date of receipt thereof) in such
                        Change in Control, plus

                  (B)   if applicable, the Fair Value of any direct or indirect
                        beneficial ownership interest maintained by any holder
                        of equity interests in the Buyer or any successor entity
                        immediately after such Change in Control in lieu of the
                        sale or disposition of such interests for

                                      A-19
<Page>

                        cash; PROVIDED, that, in the case of a Change in Control
                        occurring as part of a Public Offering, the Fair Value
                        of any class of equity interests publicly offered shall
                        be the price at which such interests are sold to the
                        public in such Public Offering, less

                  (C)   the maximum amount of any deferred payment (whether in
                        the form of deferral, earn-out, escrow or otherwise) of
                        the consideration payable to holders of equity interests
                        in the Buyer (in accordance with the terms of any
                        agreement or instrument governing such Change in
                        Control); less

                  (D)   the Liquidity Event Payment then being tested.

          "TOTAL PREFERRED EQUITY VALUE" means, as of the Determination Date,
the aggregate dollar amount that would be distributed in respect of all
Preferred Units, on a Fully-Diluted Basis, if the Buyer were liquidated on the
Determination Date in accordance with the terms of the Buyer's Operating
Agreement.

          "TRANSFER REGULATIONS" means the Transfer of Undertakings (Protection
of Employment) Regulations 1981 or such legislation enacted in an relevant
jurisdictions pursuant to the EC Directive 77/187/EEC.

          "TRANSFERRING SELLERS" means the Sellers, other than the Rollover
Sellers to the extent of their Rollover Securities.

          "U.S. BENEFIT PLAN" means each Benefit Plan covering, or providing
benefits to, employees of the Company and its Subsidiaries, as of immediately
prior to the Closing Date without giving effect to the Transaction, based in the
United States or which is subject to ERISA or the Code.

          "VALYI AGREEMENT" shall mean the Agreement dated as of December 1,
1997 between Valtek, LLC and Emery I. Valyi, as amended pursuant to an Agreement
Amendment dated as of August 25, 2000 (as further amended, modified or
supplemented from time to time).

          "WARN ACT" means the Worker Adjustment and Retraining Notification
Act, as amended.

          "WARRANTS" shall mean the Warrants to purchase up to 501 Class A Units
of the Company dated as of October 30, 1996, issued to each of JP Morgan and
International Mezzanine Capital BV (1,002 Class A Units in the aggregate).

          "WASTE" means waste including anything which is discarded or which the
holder intends or is required to discard and anything which is abandoned,
unwanted or surplus irrespective of whether it is capable of being recovered or
recycled or has any value such that there is likely to be a breach of
Environmental Law or such that any investigation, treatment or remediation of
any of the businesses, facilities, operations, properties or assets is or would
be required or would be undertaken by a prudent owner or occupier.

                                      A-20
<Page>

          "YEARLY ALLOCABLE CONTINGENT PAYMENT" means one-third (1/3) of the
Contingent Payment Amount; PROVIDED, HOWEVER, that to the extent that the Yearly
Allocable Contingent Payments for the First Contingent Payment Measurement
Period or the Second Contingent Payment Measurement Period exceeds the Yearly
Contingent Payment for such period, then such excess shall be added to the
Yearly Allocable Contingent Payment for the subsequent Contingent Payment
Measurement Period.

          "YEARLY CONTINGENT PAYMENT" means the maximum amount of the Yearly
Allocable Contingent Payment that, if paid to the Sellers in respect of the
relevant Contingent Payment Measurement Period in accordance with the terms of
this Agreement would yield an IRR no lower than the IRR Target for such
Contingent Payment Measurement Period.

          The following terms shall have the meaning specified in the indicated
section of this Agreement.

                                      A-21
<Page>

                              CROSS-REFERENCE LIST

                                      A-22
<Page>

<Table>
<S>                                                                                              <C>
$.......................................................................................................SECTION 1.2
9 3/4% NOTES................................................................................................ANNEX I
AAS ACQUISITION............................................................................................PREAMBLE
AAS CAPITAL.................................................................................................ANNEX I
AAS HOLDINGS...............................................................................................PREAMBLE
AAS HOLDINGS LIQUIDATION.................................................................................SCHEDULE D
AASA....................................................................................................SECTION 5.2
ADJUSTED CONSOLIDATED EBITDA................................................................................ANNEX I
ADJUSTED WORKING CAPITAL....................................................................................ANNEX I
AFFILIATE...................................................................................................ANNEX I
AFFILIATED GROUP....................................................................................SECTION 4.13(a)
AGGREGATE BRINK INTERNATIONAL CONSIDERATION..........................................................SECTION 2.1(b)
AGGREGATE CASH PROCEEDS...........................................................................SECTION 2.2(b)(i)
AGGREGATE CONSIDERATION.....................................................................................ANNEX I
ANCILLARY EXPENSES...................................................................................SECTION 2.1(a)
ANCILLARY TRANSACTIONS...............................................................................SECTION 2.1(a)
ARTICLE.................................................................................................SECTION 1.2
AUDITED FINANCIAL STATEMENTS.........................................................................SECTION 4.6(a)
BENEFIT PLAN................................................................................................ANNEX I
BORGHI PAYABLE AMOUNT.............................................................................SECTION 2.6(b)(i)
BRINK ACQUISITION..........................................................................................PREAMBLE
BRINK BV LOAN............................................................................................SCHEDULE D
BRINK EQUITY CONSIDERATION...................................................................................2.1(b)
BRINK INTERCOMPANY LOAN..................................................................................SCHEDULE D
BRINK INTERNATIONAL........................................................................................PREAMBLE
BRINK RECEIVABLE.........................................................................................SCHEDULE D
BRINK RECEIVABLE ACQUISITION.............................................................................SCHEDULE D
BRINK SECURITIES...........................................................................................PREAMBLE
BRINK TAX AUDIT.............................................................................................ANNEX I
BUSINESS....................................................................................................ANNEX I
BUSINESS DAY................................................................................................ANNEX I
BUYER......................................................................................................PREAMBLE
BUYER CREDIT AGREEMENTS..............................................................................SECTION 2.4(C)
BUYER SCHEDULED INDEMNIFIABLE LIABILITIES...................................................................ANNEX I
BUYER TAXES.................................................................................................ANNEX I
BUYER'S AUDITOR...................................................................................SECTION 2.3(a)(i)
BUYER'S OPERATING AGREEMENT................................................................................PREAMBLE
BYLAWS..................................................................................................SECTION 3.1
CANADIAN CREDIT AGREEMENT............................................................................SECTION 4.3(e)
CAPITAL TAX.............................................................................................SECTION 2.7
CASH COLLATERAL BANK.............................................................................SECTION 2.2(d)(ii)
CASH EQUIVALENTS............................................................................................ANNEX I
CASTLE HARLAN GROUP.........................................................................................ANNEX I
CHAAS HOLDINGS BV II.....................................................................................SCHEDULE D
CHAAS HOLDINGS BV III....................................................................................SCHEDULE D
CHAAS LOAN...............................................................................................SCHEDULE D
</Table>

                                   Exhibit L-1
<Page>

<Table>
<S>                                                                                               <C>
CHANGE IN CONTROL...........................................................................................ANNEX I
CHI.........................................................................................................ANNEX I
CHP IV......................................................................................................ANNEX I
CHP IV BRIDGE NOTE......................................................................................SECTION 5.1
CHP IV BRIDGE NOTE GUARANTORS...........................................................................SECTION 5.1
CHP IV DISTRIBUTION.........................................................................................ANNEX I
CLAIMS.................................................................................................SECTION 6.14
CLASS A UNITS..............................................................................................PREAMBLE
CLASS A-1 UNITS............................................................................................PREAMBLE
CLOSING..............................................................................................SECTION 2.6(a)
CLOSING DATE.........................................................................................SECTION 2.6(a)
CODE........................................................................................................ANNEX I
COMMON UNITS................................................................................................ANNEX I
COMPANY....................................................................................................PREAMBLE
COMPANY INTELLECTUAL PROPERTY...............................................................................ANNEX I
COMPANY SECURITIES..........................................................................................ANNEX I
COMPANY TRANSACTION EXPENSES................................................................................ANNEX I
CONFIDENTIAL TRANSACTION...............................................................................SECTION 6.14
CONSISTENTLY APPLIED........................................................................................ANNEX I
CONTINGENT PAYMENT AMOUNT...................................................................................ANNEX I
CONTINGENT PAYMENT MEASUREMENT PERIOD.......................................................................ANNEX I
CONTINGENT PAYMENT NOTES.............................................................................SECTION 2.4(c)
CONTINGENT PAYMENT STATEMENT......................................................................SECTION 2.4(b)(i)
CONTRACT....................................................................................................ANNEX I
CONTROLLED AFFILIATE........................................................................................ANNEX I
CONTROLLING MEMBERS..................................................................................SECTION 6.5(a)
CREDIT AGREEMENT.....................................................................................SECTION 4.3(e)
CZECH APPROVAL.........................................................................................SECTION 8.11
DE MINIMUS AMOUNT...................................................................................SECTION 9.5(c)
DECEMBER 31, 2002 10-K...............................................................................SECTION 4.7(b)
DECEMBER 31, 2002 AUDITED FINANCIAL STATEMENTS.......................................................SECTION 4.6(a)
DEFICIT.............................................................................................SECTION 9.10(b)
DESIGNATED CHP SALE.........................................................................................ANNEX I
DESIGNATED EMPLOYEES.................................................................................SECTION 6.7(b)
DESIGNATED PUBLIC OFFERING..................................................................................ANNEX I
DESIGNATED SELLERS..........................................................................................ANNEX I
DETERMINATION DATE..........................................................................................ANNEX I
DOLLARS.................................................................................................SECTION 1.2
ELIGIBLE INSTITUTION........................................................................................ANNEX I
EMPLOYMENT AGREEMENTS......................................................................................PREAMBLE
ENVIRONMENTAL CLAIMS........................................................................................ANNEX I
ENVIRONMENTAL LAWS..........................................................................................ANNEX I
ENVIRONMENTAL LIABILITIES...................................................................................ANNEX I
ENVIRONMENTAL LIEN..........................................................................................ANNEX I
ENVIRONMENTAL PERMITS.......................................................................................ANNEX I
EQUITYHOLDERS...............................................................................................ANNEX I
</Table>

                                   Exhibit L-2
<Page>

<Table>
<S>                                                                                            <C>
ERISA.......................................................................................................ANNEX I
ERISA AFFILIATE.............................................................................................ANNEX I
ESCROW AGREEMENT............................................................................................ANNEX I
ESTIMATED CASH BALANCES........................................................................SECTION 2.3(C)(i)(c)
EVENT OF DEFAULT.....................................................................................SECTION 2.4(c)
EXCHANGE ACT................................................................................................ANNEX I
EXCLUDED SELLERS.....................................................................................SECTION 6.7(a)
FAIR VALUE..................................................................................................ANNEX I
FEBRUARY 2003 UNAUDITED FINANCIAL STATEMENTS.........................................................SECTION 4.6(b)
FINAL ADJUSTED WORKING CAPITAL....................................................................SECTION 2.3(a)(i)
FINAL CASH BALANCES...............................................................................SECTION 2.3(a)(i)
FINAL CLOSING STATEMENT...........................................................................SECTION 2.3(a)(i)
FINANCING DOCUMENTS.....................................................................................SECTION 6.2
FIRST CONTINGENT PAYMENT MEASUREMENT PERIOD.................................................................ANNEX I
FISHER PAYABLE AMOUNT............................................................................SECTION 2.6(b)(ii)
FOREIGN PENSION PLAN........................................................................................ANNEX I
FRENCH FACILITY BUILDING SALE/LEASEBACK TRANSACTION.........................................................ANNEX I
FRENCH FACILITY DISPOSITION.................................................................................ANNEX I
FRENCH FACILITY EQUIPMENT SALE/LEASEBACK TRANSACTION........................................................ANNEX I
FULLY-DILUTED BASIS.........................................................................................ANNEX I
G3.0 MODEL RECALL...........................................................................................ANNEX I
GAAP........................................................................................................ANNEX I
GIBBS CASH COLLATERAL ACCOUNT....................................................................SECTION 8.10(a)(i)
GIBBS ESCROW AGREEMENT...........................................................................SECTION 8.10(a)(i)
GIBBS LETTER OF CREDIT..............................................................................SECTION 8.10(a)
GIBBS LITIGATION............................................................................................ANNEX I
GIBBS LLC........................................................................................SECTION 8.10(a)(i)
GOVERNMENTAL AUTHORIZATION..................................................................................ANNEX I
GOVERNMENTAL ENTITY.........................................................................................ANNEX I
HANDLED.....................................................................................................ANNEX I
HAZARDOUS MATERIALS.........................................................................................ANNEX I
HEDGING AGREEMENT...........................................................................................ANNEX I
HEREBY..................................................................................................SECTION 1.2
HEREIN..................................................................................................SECTION 1.2
HEREOF..................................................................................................SECTION 1.2
HERETO..................................................................................................SECTION 1.2
HOLDINGS BV................................................................................................PREAMBLE
HOLDINGS BV CAPITALIZATION..............................................................................SECTION 2.7
HSR ACT.................................................................................................SECTION 3.3
INCLUDE.................................................................................................SECTION 1.2
INCLUDING...............................................................................................SECTION 1.2
INCOME TAXES................................................................................................ANNEX I
INDEBTEDNESS................................................................................................ANNEX I
INDEMNIFIED PARTY.......................................................................................SECTION 9.4
INDEMNIFYING PARTY......................................................................................SECTION 9.4
INDENTURE...................................................................................................ANNEX I
</Table>

                                   Exhibit L-3
<Page>

<Table>
<S>                                                                                          <C>
INDEPENDENT AUDITOR..............................................................................SECTION 2.3(b)(ii)
INTELLECTUAL PROPERTY.......................................................................................ANNEX I
INTELLECTUAL PROPERTY CONTRACTS.....................................................................SECTION 4.14(a)
INTERIM PERIOD..............................................................................................ANNEX I
INTERIM PERIOD TAXES........................................................................................ANNEX I
IRR.........................................................................................................ANNEX I
IRR TARGET..................................................................................................ANNEX I
IRS.........................................................................................................ANNEX I
JANUARY 2003 UNAUDITED FINANCIAL STATEMENTS..........................................................SECTION 4.6(b)
JP MORGAN...................................................................................................ANNEX I
KNOWLEDGE OF THE BUYER......................................................................................ANNEX I
KNOWLEDGE OF THE COMPANY....................................................................................ANNEX I
LAW.........................................................................................................ANNEX I
LEASED REAL PROPERTY................................................................................SECTION 4.17(c)
LIEN........................................................................................................ANNEX I
LIQUIDITY EVENT......................................................................................SECTION 2.4(d)
LIQUIDITY EVENT PAYMENT.....................................................................................ANNEX I
LIQUIDITY EVENT STATEMENT.........................................................................SECTION 2.4(d)(i)
LOSSES...............................................................................................SECTION 9.2(a)
MANAGEMENT AGREEMENT........................................................................................ANNEX I
MANAGEMENT SUBSCRIPTION AGREEMENT..........................................................................PREAMBLE
MARKET PRICE................................................................................................ANNEX I
MATERIAL ADVERSE EFFECT.....................................................................................ANNEX I
MATERIAL CUSTOMERS.....................................................................................SECTION 4.27
MATERIAL SUPPLIERS.....................................................................................SECTION 4.26
MEMBERS' AGREEMENT......................................................................................SECTION 3.1
MINIMUM RESERVE BALANCE.............................................................................SECTION 9.10(b)
MONTHLY UNAUDITED FINANCIAL STATEMENTS...............................................................SECTION 4.6(b)
MORGAN PAYABLE AMOUNT...........................................................................SECTION 2.6(b)(iii)
NET BUILDING SALE/LEASEBACK PROCEEDS........................................................................ANNEX I
NET DISPOSITION PROCEEDS....................................................................................ANNEX I
NET EQUIPMENT SALE/LEASEBACK PROCEEDS.......................................................................ANNEX I
NET INDEBTEDNESS............................................................................................ANNEX I
NET PURCHASE PRICE..........................................................................................ANNEX I
NETHERLANDS DOMICILIARY..............................................................................SECTION 2.4(c)
NEW GIBBS ESCROW AGREEMENT...................................................................SECTION 8.10(a)(ii)(b)
NEW OBLIGORS............................................................................................SECTION 7.4
NEW OPTION AGREEMENT.......................................................................................PREAMBLE
NEW OPTIONS.................................................................................................ANNEX I
NEW UNITS.........................................................................................SECTION 2.2(c)(i)
NEWCO AB.................................................................................................SCHEDULE D
NEWCO APS................................................................................................SCHEDULE D
NEWCO LTD................................................................................................SCHEDULE D
NEWCOS...................................................................................................SCHEDULE D
NOTICE OF OBJECTION..............................................................................SECTION 2.3(a)(ii)
OPERATING AGREEMENT.....................................................................................SECTION 3.1
</Table>

                                   Exhibit L-4
<Page>

<Table>
<S>                                                                                              <C>
OPTION PLANS...............................................................................................PREAMBLE
OPTIONS....................................................................................................PREAMBLE
OR......................................................................................................SECTION 1.2
ORGANIZATIONAL DOCUMENTS....................................................................................ANNEX I
ORIGINAL EQUITY VALUE.......................................................................................ANNEX I
OWNED REAL PROPERTY.................................................................................SECTION 4.17(a)
PAID LOSS............................................................................................SECTION 9.9(a)
PENSION PLAN................................................................................................ANNEX I
PER UNIT CASH PURCHASE PRICE................................................................................ANNEX I
PERCENTAGE INTERESTS........................................................................................ANNEX I
PERMITTED LIENS.............................................................................................ANNEX I
PERSON......................................................................................................ANNEX I
POLICIES...............................................................................................SECTION 4.25
POST-CLOSING PERIOD.........................................................................................ANNEX I
POST-CLOSING TAXES..........................................................................................ANNEX I
POST-INTERIM PERIOD.........................................................................................ANNEX I
POST-INTERIM PERIOD TAXES...................................................................................ANNEX I
PRE-CLOSING PERIOD..........................................................................................ANNEX I
PRE-CLOSING TAXES...........................................................................................ANNEX I
PREFERRED UNITS.............................................................................................ANNEX I
PRINCIPAL DOCUMENTS.....................................................................................SECTION 5.2
PROMISSORY NOTE OBLIGORS.........................................................................SECTION 2.2(b)(ii)
PROMISSORY NOTES............................................................................................ANNEX I
PROPOSAL.............................................................................................SECTION 6.5(a)
PUBLIC OFFERING.............................................................................................ANNEX I
PURCHASED COMPANY SECURITIES................................................................................ANNEX I
REAL PROPERTY LEASE.................................................................................SECTION 4.17(c)
REGISTERED..................................................................................................ANNEX I
RELATED PARTIES.....................................................................................SECTION 4.21(a)
RELATED PARTY.......................................................................................SECTION 4.21(a)
RELEASE.....................................................................................................ANNEX I
RELEASEES..............................................................................................SECTION 6.14
REMEDIAL ACTION.............................................................................................ANNEX I
RESERVE ACCOUNT.....................................................................................SECTION 9.10(a)
RESERVE ACCOUNT PERCENTAGE INTEREST.........................................................................ANNEX I
RESERVE TERMINATION DATE............................................................................SECTION 9.10(c)
RESTRICTED UNITS...........................................................................................PREAMBLE
REVISED LIQUIDITY EVENT STATEMENT................................................................SECTION 2.4(d)(iv)
ROLLOVER.............................................................................................SECTION 2.2(c)
ROLLOVER OPTIONS............................................................................................ANNEX I
ROLLOVER SECURITIES.........................................................................................ANNEX I
ROLLOVER SECURITIES REPURCHASE AGREEMENT...................................................................PREAMBLE
ROLLOVER SELLERS............................................................................................ANNEX I
ROLLOVER UNITS....................................................................................SECTION 2.2(c)(i)
SEC.........................................................................................................ANNEX I
SEC DOCUMENTS........................................................................................SECTION 4.7(a)
</Table>

                                   Exhibit L-5
<Page>

<Table>
<S>                                                                                              <C>
SECOND CONTINGENT PAYMENT MEASUREMENT PERIOD................................................................ANNEX I
SECTION.................................................................................................SECTION 1.2
SECURITIES ACT..............................................................................................ANNEX I
SELLER.....................................................................................................PREAMBLE
SELLER SCHEDULED INDEMNIFIABLE LIABILITIES..................................................................ANNEX I
SELLERS....................................................................................................PREAMBLE
SELLERS' REPRESENTATIVE.............................................................................SECTION 12.1(a)
SENIOR BUYER CREDIT AGREEMENT...............................................................................ANNEX I
SPORTRACK...............................................................................................SECTION 9.8
SPORTRACK CZECH........................................................................................SECTION 8.11
STATEMENT OF CONSOLIDATED NET ASSETS..............................................................SECTION 2.3(a)(i)
STRADDLE PERIOD.............................................................................................ANNEX I
STRADDLE PERIOD TAXES.......................................................................................ANNEX I
SUBORDINATED GUARANTEE..................................................................................SECTION 7.4
SUBSEQUENT EQUITY CONTRIBUTION..............................................................................ANNEX I
SUBSIDIARY..................................................................................................ANNEX I
TANGIBLE PROPERTY...................................................................................SECTION 4.18(a)
TARGET WORKING CAPITAL......................................................................................ANNEX I
TAX.........................................................................................................ANNEX I
TAX ASSET...............................................................................................SECTION 8.6
TAX CLAIM............................................................................................SECTION 9.7(a)
TAX RETURN..................................................................................................ANNEX I
TAXABLE PERIOD..............................................................................................ANNEX I
TAXES.......................................................................................................ANNEX I
TAXING AUTHORITY............................................................................................ANNEX I
TERMINATION DATE............................................................................................ANNEX I
THIRD CONTINGENT PAYMENT MEASUREMENT PERIOD.................................................................ANNEX I
THIRD PARTY CLAIM.......................................................................................SECTION 9.4
THRESHOLD AMOUNT.....................................................................................SECTION 9.5(a)
TOTAL CASTLE HARLAN GROUP COMMON EQUITY VALUE...............................................................ANNEX I
TOTAL CASTLE HARLAN GROUP EQUITY VALUE......................................................................ANNEX I
TOTAL CASTLE HARLAN GROUP PREFERRED EQUITY VALUE............................................................ANNEX I
TOTAL COMMON EQUITY VALUE...................................................................................ANNEX I
TOTAL EQUITY VALUE..........................................................................................ANNEX I
TOTAL PREFERRED EQUITY VALUE................................................................................ANNEX I
TRANSACTION..........................................................................................SECTION 2.1(a)
TRANSFER REGULATIONS........................................................................................ANNEX I
TRANSFERRING SELLERS........................................................................................ANNEX I
U.S. BENEFIT PLAN...........................................................................................ANNEX I
UNIT VESTING REPURCHASE AGREEMENT..........................................................................PREAMBLE
UNITS......................................................................................................PREAMBLE
VALLEY..................................................................................................SECTION 9.8
VALLEY LETTER....................................................................................SECTION 2.6(b)(ii)
VALTEK, LLC.............................................................................................SECTION 9.8
VALYI AGREEMENT.............................................................................................ANNEX I
WARN ACT....................................................................................................ANNEX I
WARRANTS....................................................................................................ANNEX I
WASTE.......................................................................................................ANNEX I
YEARLY ALLOCABLE CONTINGENT PAYMENT.........................................................................ANNEX I
YEARLY CONTINGENT PAYMENT...................................................................................ANNEX I
</Table>

                                   Exhibit L-6<Page>

                                                                    EXHIBIT 10.2

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

                      AMENDED AND RESTATED CREDIT AGREEMENT

                            DATED AS OF MAY 23, 2003

                                  BY AND AMONG

                                 SPORTRACK, LLC,

                           VALLEY INDUSTRIES, LLC, AND

                                   BRINK B.V.,

                                  AS BORROWERS

                                       AND

                       THE OTHER PERSONS PARTY HERETO THAT
                        ARE DESIGNATED AS CREDIT PARTIES

                                       AND

                      GENERAL ELECTRIC CAPITAL CORPORATION,
                              AS AGENT AND A LENDER

                                       AND

                 THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO,
                                   AS LENDERS

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

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                            PAGE
                                                                                                            ----
<S>                                                                                                           <C>
SECTION 1 AMOUNTS AND TERMS OF LOANS...........................................................................4

      Section 1.1     Loans....................................................................................4
      Section 1.2     Interest and Applicable Margins.........................................................18
      Section 1.3     Fees....................................................................................20
      Section 1.4     Payments................................................................................23
      Section 1.5     Prepayments.............................................................................24
      Section 1.6     Maturity................................................................................28
      Section 1.7     Loan Account............................................................................28
      Section 1.8     Yield Protection; Illegality............................................................29
      Section 1.9     Taxes...................................................................................30
      Section 1.10    Borrower Representative.................................................................32
      Section 1.11    European Lender Qualification...........................................................32

SECTION 2 AFFIRMATIVE COVENANTS...............................................................................33

      Section 2.1     Compliance With Laws and Contractual Obligations........................................33
      Section 2.2     Maintenance of Properties; Insurance....................................................34
      Section 2.3     Inspection; Lender Meeting..............................................................35
      Section 2.4     Organizational Existence................................................................35
      Section 2.5     Environmental Matters...................................................................35
      Section 2.6     Landlords' Agreements, Mortgagee Agreements and Bailee Letters..........................36
      Section 2.7     Further Assurances......................................................................37
      Section 2.8     Intentionally Reserved..................................................................38
      Section 2.9     European Mergers........................................................................38
      Section 2.10    Intellectual Property Cross License.....................................................39

SECTION 3 NEGATIVE COVENANTS..................................................................................39

      Section 3.1     Indebtedness............................................................................39
      Section 3.2     Liens and Related Matters...............................................................43
      Section 3.3     Investments.............................................................................45
      Section 3.4     Contingent Obligations..................................................................46
      Section 3.5     Restricted Payments.....................................................................47
      Section 3.6     Restriction on Fundamental Changes......................................................51
      Section 3.7     Disposal of Assets or Subsidiary Stock..................................................55
      Section 3.8     Transactions with Affiliates............................................................56
      Section 3.9     Conduct of Business.....................................................................56
      Section 3.10    Changes Relating to Indebtedness; Etc...................................................56
      Section 3.11    Fiscal Year.............................................................................57
      Section 3.12    Press Release; Public Offering Materials................................................57
      Section 3.13    Subsidiaries............................................................................58
      Section 3.14    Bank Accounts...........................................................................58
      Section 3.15    Hazardous Materials.....................................................................58
</Table>

                                       -i-
<Page>

<Table>
<S>                                                                                                           <C>
      Section 3.16    ERISA/Canadian Pension Plan.............................................................59
      Section 3.17    Sale-Leasebacks.........................................................................59
      Section 3.18    Prepayments of Other Indebtedness.......................................................59
      Section 3.19    Gibbs Litigation........................................................................60

SECTION 4 FINANCIAL COVENANTS/REPORTING.......................................................................60

      Section 4.1     Intentionally Reserved..................................................................60
      Section 4.2     Intentionally Reserved..................................................................60
      Section 4.3     Intentionally Reserved..................................................................60
      Section 4.4     Minimum Fixed Charge Coverage Ratio.....................................................60
      Section 4.5     Intentionally Reserved..................................................................60
      Section 4.6     Intentionally Reserved..................................................................60
      Section 4.7     Maximum Senior Secured Leverage Ratio...................................................60
      Section 4.8     Financial Statements and Other Reports..................................................60
      Section 4.9     Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement......65

SECTION 5 REPRESENTATIONS AND WARRANTIES......................................................................65

      Section 5.1     Disclosure..............................................................................66
      Section 5.2     No Material Adverse Change..............................................................66
      Section 5.3     No Conflict.............................................................................66
      Section 5.4     Organization, Powers, Capitalization and Good Standing..................................66
      Section 5.5     Financial Statements and Projections....................................................67
      Section 5.6     Intellectual Property...................................................................68
      Section 5.7     Investigations, Audits, Etc.............................................................68
      Section 5.8     Employee Matters........................................................................68
      Section 5.9     Solvency................................................................................69
      Section 5.10    Litigation; Adverse Facts...............................................................69
      Section 5.11    Use of Proceeds; Margin Regulations.....................................................69
      Section 5.12    Ownership of Property; Liens............................................................70
      Section 5.13    Environmental Matters...................................................................70
      Section 5.14    ERISA/Similar Non-US Issues.............................................................71
      Section 5.15    Brokers.................................................................................72
      Section 5.16    Deposit and Disbursement Accounts.......................................................72
      Section 5.17    Agreements and Other Documents..........................................................73
      Section 5.18    Insurance...............................................................................73
      Section 5.19    Acquisition Agreement...................................................................73
      Section 5.20    European Mergers........................................................................74

SECTION 6 DEFAULT, RIGHTS AND REMEDIES........................................................................74

      Section 6.1     Event of Default........................................................................74
      Section 6.2     Suspension or Termination of Commitments................................................78
      Section 6.3     Acceleration and other Remedies.........................................................78
      Section 6.4     Performance by Agent....................................................................79
      Section 6.5     Application of Proceeds/Lender Risk Allocation Agreement................................80
</Table>

                                      -ii-
<Page>

<Table>
<S>                                                                                                          <C>
SECTION 7 CONDITIONS TO LOANS.................................................................................81

      Section 7.1     Conditions to Initial Loans.............................................................81
      Section 7.2     Conditions to All Loans.................................................................81

SECTION 8 ASSIGNMENT AND PARTICIPATION/AGENCY PROVISIONS......................................................82

      Section 8.1     Assignment and Participations...........................................................82
      Section 8.2     Agent...................................................................................85
      Section 8.3     Set Off and Sharing of Payments.........................................................91
      Section 8.4     Disbursement of Funds...................................................................92
      Section 8.5     Disbursements of Advances; Payment......................................................92
      Section 8.6     Parallel European Debt..................................................................94

SECTION 9 MISCELLANEOUS.......................................................................................97

      Section 9.1     Indemnities.............................................................................97
      Section 9.2     Amendments and Waivers..................................................................98
      Section 9.3     Notices.................................................................................99
      Section 9.4     Failure or Indulgence Not Waiver; Remedies Cumulative..................................100
      Section 9.5     Marshaling; Payments Set Aside.........................................................100
      Section 9.6     Severability...........................................................................101
      Section 9.7     Lenders' Obligations Several; Independent Nature of Lenders' Rights....................101
      Section 9.8     Headings...............................................................................101
      Section 9.9     Applicable Law.........................................................................101
      Section 9.10    Successors and Assigns.................................................................101
      Section 9.11    No Fiduciary Relationship; Limited Liability...........................................102
      Section 9.12    Construction...........................................................................102
      Section 9.13    Confidentiality........................................................................102
      Section 9.14    CONSENT TO JURISDICTION................................................................102
      Section 9.15    WAIVER OF JURY TRIAL...................................................................103
      Section 9.16    Survival of Warranties and Certain Agreements..........................................103
      Section 9.17    Entire Agreement.......................................................................103
      Section 9.18    Counterparts; Effectiveness............................................................104
      Section 9.19    Replacement of Lenders.................................................................104
      Section 9.20    Delivery of Termination Statements and Mortgage Releases...............................106
      Section 9.21    Intentionally Reserved.................................................................106
      Section 9.22    Joint and Several Obligations regarding Canada.........................................106
      Section 9.23    European/Quebec Financial Assistance Limitation........................................106
      Section 9.24    Reaffirmation of Original Loan Documents...............................................107

SECTION 10 US BORROWER CROSS-GUARANTY........................................................................107

      Section 10.1    US Borrower Cross-Guaranty.............................................................107
      Section 10.2    Waivers by US Borrowers................................................................108
      Section 10.3    Benefit of Guaranty....................................................................108
      Section 10.4    Waiver of Subrogation, Etc.............................................................108
</Table>

                                      -iii-
<Page>

<Table>
<S>                                                                                                          <C>
      Section 10.5    Election of Remedies...................................................................109
      Section 10.6    Limitation.............................................................................109
      Section 10.7    Contribution with Respect to Guaranty Obligations......................................110
      Section 10.8    Liability Cumulative...................................................................110
</Table>

                                      -iv-
<Page>

                               INDEX OF APPENDICES
ANNEXES

Annex A                  -      Definitions
Annex B                  -      Commitment Amounts
Annex C                  -      Closing Checklist
Annex D                  -      Pro Forma
Annex E                  -      Lenders' Bank Accounts

EXHIBITS

Exhibit 1.1(b)           -      European Term Note
Exhibit 1.1(c)(i)        -      US Revolving Note
Exhibit 1.1(c)(ii)       -      Notice of US Revolving Credit Advance
Exhibit 1.1(d)(i)        -      European Revolving Note
Exhibit 1.1(d)(ii)       -      Notice of European Revolving Credit Advance
Exhibit 1.2(f)           -      Notice of Continuation/Conversion
Exhibit 4.8(d)(i)        -      US Borrowing Base Certificate
Exhibit 4.8(d)(ii)       -      European Borrowing Base Certificate
Exhibit 4.8(n)           -      Compliance Certificate
Exhibit 8.1              -      Assignment Agreement
Exhibit A                -      Lender Risk Allocation Agreement

SCHEDULES

Schedule 3.1             -      Indebtedness
Schedule 3.2             -      Permitted Encumbrances
Schedule 3.3             -      Investments
Schedule 3.4             -      Contingent Obligations
Schedule 3.8             -      Affiliate Transactions
Schedule 3.9             -      Business Description
Schedule 3.17            -      Sale-Leasebacks
Schedule 5.4(a)          -      Jurisdictions of Organization and Qualifications
Schedule 5.4(b)          -      Capitalization
Schedule 5.6             -      Intellectual Property
Schedule 5.7             -      Investigations and Audits
Schedule 5.8             -      Employee Matters
Schedule 5.10            -      Litigation
Schedule 5.11            -      Use of Proceeds
Schedule 5.12            -      Real Estate
Schedule 5.13            -      Environmental Matters
Schedule 5.14            -      ERISA
Schedule 5.16            -      Deposit and Disbursement Accounts
Schedule 5.17            -      Agreements and Other Documents
Schedule 5.18            -      Insurance

                                       -v-
<Page>

                                                                    EXHIBIT 10.2

                      AMENDED AND RESTATED CREDIT AGREEMENT

          This AMENDED AND RESTATED CREDIT AGREEMENT is dated as of May 23, 2003
and entered into by and among SportRack, LLC, a Delaware limited liability
company ("SPORTRACK US BORROWER"), Valley Industries, LLC, a Delaware limited
liability company ("VALLEY US BORROWER") (SportRack US Borrower and Valley US
Borrower are sometimes referred to herein as the "US BORROWERS" and individually
as a "US BORROWER"), and Brink B.V., a private company with limited liability
(BESLOTEN VENNOOTSCHAP MET BEPERKTE AANSPRAKELIJKHEID) incorporated under the
laws of The Netherlands, having its corporate seat (STATUTAIRE ZETEL) in
Staphorst, The Netherlands and registered with the Chamber of Commerce (KAMER
VAN KOOPHANDEL) in Regio Zwolle under number 05041971 ("EUROPEAN BORROWER") (US
Borrowers and European Borrower are sometimes referred to herein as the
"BORROWERS" and individually as a "BORROWER"), the other persons designated as
"CREDIT PARTIES" on the signature pages hereof, the financial institutions who
are or hereafter become parties to this Agreement as Lenders, and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation (in its individual capacity
"GE Capital"), as a Lender and as Agent.

                                R E C I T A L S:

          WHEREAS, Borrowers, the other Credit Parties, Agent, and (pursuant, in
part, to various Assignments and Acceptances, each dated as of the date hereof,
and each effective immediately prior to the effectiveness of this Agreement,
among GE Capital and each of the other Lenders party to the Original Credit
Agreement, as hereinafter defined, on the date hereof immediately prior to the
effectiveness of such Assignments and Acceptances) GE Capital, as sole "Lender",
are each party to that certain Credit Agreement dated as of April 15, 2003 (the
"ORIGINAL CREDIT AGREEMENT") and the Loan Documents (as defined in the Original
Credit Agreement, the "ORIGINAL LOAN DOCUMENTS"), pursuant to which the
"Lenders" thereunder have made (i) a US term loan A (the "ORIGINAL US TERM LOAN
A") evidenced by various promissory notes (the "ORIGINAL US TERM LOAN A NOTES"),
(ii) a US term loan B (the "ORIGINAL US TERM LOAN B") evidenced by various
promissory notes (the "ORIGINAL US TERM LOAN B NOTES"), (iii) US revolving loans
(the "ORIGINAL US REVOLVING LOANS") evidenced by various promissory notes (the
"ORIGINAL US REVOLVING NOTES"), (iv) a European term loan A (the "ORIGINAL
EUROPEAN TERM LOAN A") evidenced by various promissory notes (the "ORIGINAL
EUROPEAN TERM LOAN A NOTES"), (v) a European term loan B (the "ORIGINAL EUROPEAN
TERM LOAN B") evidenced by various promissory notes (the "ORIGINAL EUROPEAN TERM
LOAN B NOTES"), and (vi) European revolving loans (the "ORIGINAL EUROPEAN
REVOLVING LOANS"; and together with the Original US Term Loan A, the Original US
Term Loan B, the Original US Revolving Loans, the Original European Term Loan A
and the Original European Term Loan B, the "ORIGINAL LOANS") evidenced by
various promissory notes (the "ORIGINAL EUROPEAN REVOLVING NOTES", and together
with the Original US Term Loan A Notes, the Original US Term Loan B Notes, the
Original US Revolving Notes, the Original European Term Loan A Notes and the
Original European Term Loan B Notes, the "ORIGINAL NOTES"); and

                                     Annex A
                                     Page 1
<Page>

          WHEREAS, in order to secure (i) all Obligations under and as defined
in the Original Credit Agreement, each US Credit Party (as hereinafter defined)
has pledged and has granted to Agent a security interest in and lien upon
substantially all of its personal and real property (together with all other
collateral provided by the US Credit Parties under the Original Loan Documents,
the "ORIGINAL US COLLATERAL") and (ii) all European Obligations under and as
defined in the Original Credit Agreement, each Non-US Credit Party (as
hereinafter defined) has pledged and has granted to Agent a security interest in
and lien upon certain of its personal and real property (together with all other
collateral provided by the Non-US Credit Parties under the Original Loan
Documents, the "ORIGINAL EUROPEAN COLLATERAL"); and

          WHEREAS, Borrowers, the other Credit Parties, Lenders and Agent wish
to amend and restate the Original Credit Agreement subject to the terms and
conditions set forth herein; and

          WHEREAS, Borrower, the other Credit Parties, Lenders and Agent intend
that (i) the Obligations and European Obligations (each as defined under the
Original Credit Agreement) shall continue to exist under, and to be evidenced
by, this Agreement and the Notes (as hereinafter defined) issued hereunder, (ii)
the Original Loans shall be Loans under and as defined in this Agreement and the
Notes, (iii) the Original US Collateral shall secure the Obligations (as
hereinafter defined) and (iv) the Original European Collateral shall secure the
European Obligations (as hereinafter defined); and

          WHEREAS, Borrowers desire that Lenders continue to extend a US
revolving credit facility, a European term credit facility and a European
revolving credit facility to Borrowers to fund the repayment of certain
indebtedness of Borrowers, to provide working capital financing for Borrowers
and their Subsidiaries and to provide funds for other general corporate purposes
of Borrowers and their Subsidiaries; and

          WHEREAS, US Borrowers desire to secure all of the Obligations under
the Loan Documents (as hereinafter defined) by continuing to grant to Agent, for
the benefit of Agent and Lenders, a security interest in and lien upon
substantially all of their personal and real property; and

          WHEREAS, European Borrower desires to secure all of the European
Obligations by continuing to grant to Agent, for the benefit of Agent and
Lenders, a security interest in and lien upon substantially all of its personal
and real property; and

          WHEREAS, CHAAS Holdings, LLC, f/k/a CHAAS Acquisitions, LLC, a
Delaware limited liability company ("ULTIMATE Holdings") that owns all of the
Stock (as hereinafter defined) of Holdings (as hereinafter defined), is willing
to continue to guaranty all of the Obligations and to pledge to Agent, for the
benefit of Agent and Lenders, all of the Stock of Holdings to secure the
Obligations; and

          WHEREAS, CHAAS Acquisitions, LLC, a Delaware limited liability company
("HOLDINGS") that owns all of the Stock of US SportRack Holdings (as hereinafter

                                     Annex A
                                     Page 2
<Page>

defined), Valley US Borrower and European US Holdings (as hereinafter defined),
is willing to guaranty all of the Obligations and to pledge to Agent, for the
benefit of Agent and Lenders, all of the Stock of US SportRack Holdings, Valley
US Borrower and European US Holdings to secure the Obligations; and

          WHEREAS, Advanced Accessory Systems, LLC, a Delaware limited liability
company ("US SPORTRACK HOLDINGS"), that owns all of the Stock of SportRack US
Borrower, is willing to continue to guaranty all of the Obligations and to
pledge to Agent, for the benefit of Agent and Lenders, all of the Stock of
SportRack US Borrower to secure the Obligations; and

          WHEREAS, AAS Acquisitions, LLC, a Delaware limited liability company
("EUROPEAN US HOLDINGS"), that owns all of the Stock of European First Tier
Dutch Holdings (as hereinafter defined), is willing to continue to guaranty all
of the Obligations and to pledge to Agent, for the benefit of Agent and Lenders,
(i) all of the Stock of European First Tier Dutch Holdings to secure the
European Obligations and (ii) 65% of the Stock of European First Tier Dutch
Holdings to secure the Obligations; and

          WHEREAS, CHAAS Holdings B.V., a private company with limited liability
(BESLOTEN VENNOOTSCHAP MET BEPERKTE AANSPRAKELIJKHEID) incorporated under the
laws of The Netherlands, having its corporate seat (STATUTAIRE ZETEL) in
Staphorst, The Netherlands and registered with the Chamber of Commerce (KAMER
VAN KOOPHANDEL) in Regio Zwolle under number 05072494 ("EUROPEAN FIRST TIER
DUTCH HOLDINGS"), that owns all of the Stock of European Second Tier Dutch
Holdings (as hereinafter defined), is willing to continue to guaranty all of the
European Obligations and to pledge to Agent, for the benefit of Agent and
Lenders all of the Stock of European Second Tier Dutch Holdings (as hereinafter
defined) to secure the European Obligations; and

          WHEREAS, Brink International B.V., a private company with limited
liability (BESLOTEN VENNOOTSCHAP MET BEPERKTE AANSPRAKELIJKHEID) incorporated
under the laws of The Netherlands, having its corporate seat (STATUTAIRE ZETEL)
in Staphorst, The Netherlands and registered with the Chamber of Commerce (KAMER
VAN KOOPHANDEL) in Regio Zwolle under number 05058752 ("EUROPEAN SECOND TIER
DUTCH HOLDINGS"), that owns all of the Stock of European Borrower, is willing to
continue to guaranty all of the European Obligations and to pledge to Agent, for
the benefit of Agent and Lenders all of the Stock of European Borrower to secure
the European Obligations; and

          WHEREAS, (i) each direct and indirect US Subsidiary (as hereinafter
defined) of each Borrower is willing to continue to guaranty all of the
Obligations and to grant to Agent, for the benefit of Agent and Lenders, a
security interest in and lien upon substantially all of its personal and real
property to secure the Obligations, (ii) each direct and indirect Non-US
Subsidiary (as hereinafter defined) of each Borrower and of European Second Tier
Dutch Holdings is, to the extent permitted by law, willing to continue to
guaranty all of the European Obligations, (iii) certain direct and indirect
Non-US Subsidiaries of each Borrower and of European Second Tier Dutch Holdings
are, to the extent permitted by law, willing to continue to grant to Agent, for
the benefit of Agent and Lenders, a security interest in and a

                                     Annex A
                                     Page 3
<Page>

lien upon certain of their personal and real property to secure the European
Obligations, (iv) the Stockholders (as hereinafter defined) of each direct and
indirect US Subsidiary of each Borrower are willing to pledge to Agent, for the
benefit of Agent and Lenders, all of the Stock of such US Subsidiaries to secure
the Obligations, and (v) the Stockholders of each direct and indirect Non-US
Subsidiary of each Borrower and of European Second Tier Dutch Holdings are, to
the extent permitted by law, willing to continue to pledge to Agent, for the
benefit of Agent and Lenders, (x) all of the Stock of such Non-US Subsidiaries
to secure the European Obligations and (y) to the extent such Stockholder is a
US Credit Party, 65% of the Stock of such Non-US Subsidiaries to secure the
Obligations; and

          WHEREAS, all capitalized terms herein shall have the meanings ascribed
thereto in ANNEX A hereto which is incorporated herein by reference.

          NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, Borrowers, Credit Parties, Lenders
and Agent agree that the Original Credit Agreement shall be amended and restated
as follows:

                                    SECTION 1
                           AMOUNTS AND TERMS OF LOANS

          Section 1.1   LOANS.

          Subject to the terms and conditions of this Agreement and in reliance
upon the representations and warranties of Borrowers and the other Credit
Parties contained herein:

          (a)     INTENTIONALLY RESERVED.

          (b)     EUROPEAN TERM LOAN. As of the date hereof, the outstanding
principal balance of (i) the Original European Term Loan A is 9,596,938.20 Euros
and (ii) the Original European Term Loan B is 15,595,024.57 Euros (collectively,
the "OUTSTANDING ORIGINAL EUROPEAN TERM LOAN BALANCE"). On the Closing Date,
10,000,000 Euros of the Outstanding Original European Term Loan Balance shall be
continued and shall convert automatically, for all purposes of this Agreement to
"EUROPEAN TERM LOAN" hereunder owing to the European Term Lenders as if such
European Term Loans had been made by the European Term Lenders to the European
Borrower hereunder on the Closing Date ratably in accordance with their
respective Pro Rata Shares. The remaining amount of the Original European Term
Loan Balance shall be permanently repaid by European Borrower on the Closing
Date. Additionally, the full outstanding principal amount of the Original US
Term Loan A and the Original US Term Loan B shall be permanently repaid by US
Borrowers on the Closing Date.

          European Borrower shall repay the European Term Loan through periodic
payments on the dates and in the amounts (as such amounts may reduced in
accordance with SECTION 1.5(e)) indicated below ("SCHEDULED INSTALLMENTS"). The
European Term Loan shall be advanced, denominated, and repayable in Euros.

                                     Annex A
                                     Page 4
<Page>

                               EUROPEAN TERM LOAN

<Table>
<Caption>
DATE                                                    SCHEDULED INSTALLMENT
<S>                                                      <C>
September 30, 2003                                       EURO   250,000
December 31, 2003                                        EURO   250,000
March 31, 2004                                           EURO   250,000
June 30, 2004                                            EURO   250,000
September 30, 2004                                       EURO   250,000
December 31, 2004                                        EURO   250,000
March 31, 2005                                           EURO   250,000
June 30, 2005                                            EURO   500,000
September 30, 2005                                       EURO   500,000
December 31, 2005                                        EURO   500,000
March 31, 2006                                           EURO   500,000
June 30, 2006                                            EURO   750,000
September 30, 2006                                       EURO   750,000
December 31, 2006                                        EURO   750,000
March 31, 2007                                           EURO   750,000
June 30, 2007                                            EURO   750,000
September 30, 2007                                       EURO   750,000
December 31, 2007                                        EURO   750,000
March 31, 2008                                           EURO 1,000,000
</Table>

          The final installment shall in all events equal the entire remaining
principal balance of the European Term Loan. Notwithstanding the foregoing, if
earlier than the dates set forth above, the outstanding principal balance of the
European Term Loan shall be due and payable in full on the European Commitment
Termination Date (it being understood that the European Commitment Termination
Date may be extended in accordance with the terms and conditions of this
Agreement). Amounts borrowed under this SECTION 1.1(b) and repaid may not be
reborrowed.

          The European Term Loan shall be evidenced by promissory notes
substantially in the form of EXHIBIT 1.1(b) (each a "EUROPEAN TERM NOTE" and,
collectively, the "EUROPEAN TERM NOTES"), and, except as provided in SECTION
1.7, the European Borrower shall execute and deliver each European Term Note to
the applicable European Term Lender. Each European Term Note shall represent the
obligation of European Borrower to pay the amount of the applicable European
Term Lender's European Term Loan Commitment, together with interest thereon. No
European Term Note shall be in a face principal amount of less than 50,000
Euros.

          The aggregate principal amount of the European Term Loan advanced to
European Borrower shall be the primary obligation of European Borrower (but
shall also be guaranteed by all other Borrowers pursuant to SECTION 10).

          (c)     US REVOLVING LOANS.

                                     Annex A
                                     Page 5
<Page>

          (i)     As of the date hereof, the outstanding principal balance of
     the Original US Revolving Loan is $14,365,870.46 (the "OUTSTANDING ORIGINAL
     US REVOLVING LOAN BALANCE"). On the Closing Date, shall be continued and
     shall convert automatically, for all purposes of this Agreement to
     outstanding US Revolving Credit Advances hereunder owing to the US
     Revolving Lenders as if such US Revolving Credit Advances had been made by
     the such Lenders to the US Borrowers hereunder on the Closing Date ratably
     in accordance with their respective Pro Rata Shares. Each US Revolving
     Lender agrees, severally and not jointly, to make available to US Borrowers
     from time to time until the US Commitment Termination Date such US
     Revolving Lender's Pro Rata Share of advances (each a "US REVOLVING CREDIT
     ADVANCE") requested by Borrower Representative on behalf of the US
     Borrowers hereunder. The Pro Rata Share of the US Revolving Loan of any US
     Revolving Lender shall not at any time exceed its separate US Revolving
     Loan Commitment. US Revolving Credit Advances may be repaid and reborrowed;
     provided, that the amount of any US Revolving Credit Advance to be made at
     any time shall not exceed US Borrowing Availability. All US Revolving Loans
     shall be advanced, denominated, and repayable in US Dollars.
     Notwithstanding the foregoing, upon the request of US Borrower
     Representative set forth in a Notice of US Revolving Credit Advance, up to
     US$5,000,000 in the aggregate of US Revolving Advances will be advanced to
     the applicable US Borrower in Euros (based on the then Exchange Rate)
     instead of US Dollars; provided, however, that (i) each such US Revolving
     Credit Advance will still be accounted for as if such US Revolving Credit
     Advances were made in US Dollars on the date such US Revolving Credit
     Advance was made and shall still be repayable in US Dollars and (ii) US
     Borrowers shall reimburse Agent for any currency conversion costs incurred
     by Agent at the time of making such US Revolving Credit Advance as a result
     of receiving funds from the US Revolving Lenders with respect to such US
     Revolving Credit Advance in US Dollars and having to convert such US
     Dollars into Euros at the time of making such US Revolving Credit Advance
     (to the extent that a US Revolving Lender as part of its normal operations
     regularly funds loans in Euros and providing funds in Euros to Agent for
     the purpose of this sentence is not disadvantageous to such US Revolving
     Lender, such US Revolving Lender will provide such funds to Agent in Euros
     so that no conversion cost is necessary). All US Revolving Loans shall be
     repaid in full on the US Commitment Termination Date. Each US Borrower
     shall execute and deliver to each US Revolving Lender a note to evidence
     the US Revolving Loan Commitment of that US Revolving Lender. Each note
     shall be in the principal amount of the US Revolving Loan Commitment of the
     applicable US Revolving Lender, dated the Closing Date and substantially in
     the form of EXHIBIT 1.1(c)(i) (each a "US REVOLVING NOTE" and,
     collectively, the "US REVOLVING NOTES"). Other than pursuant to SECTION
     1.1(c)(ii), if at any time the outstanding US Revolving Loans exceed the US
     Borrowing Base (any such excess US Revolving Loans are herein referred to
     collectively as "US OVERADVANCES"), US Lenders shall not be

                                     Annex A
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<Page>

     obligated to make US Revolving Credit Advances, no additional US Letters of
     Credit shall be issued and, except as provided in SECTION 1.1(c)(ii) below,
     US Revolving Loans must be repaid immediately and US Letters of Credit cash
     collateralized in an amount sufficient to eliminate any US Overadvances.
     All US Overadvances shall constitute Index Rate Loans and shall bear
     interest at the Default Rate. US Revolving Loans which are Index Rate Loans
     may be requested in any amount with one (1) Business Day (or three (3)
     Business Days with respect to any US Revolving Loan requested to be
     advanced in Euros as provided above) prior written notice required for
     funding requests equal to or greater than US$5,000,000. For funding
     requests for such Loans less than US$5,000,000, written notice must be
     provided by 1:00 p.m. (New York time) on the Business Day on which the Loan
     is to be made. All LIBOR Loans require three (3) Business Days prior
     written notice. Written notices for funding requests shall be in the form
     attached as EXHIBIT 1.1(c)(ii) ("NOTICE OF US REVOLVING CREDIT ADVANCE").

          (ii)    If Borrower Representative on behalf of US Borrowers requests
     that US Revolving Lenders make, or permit to remain outstanding any US
     Overadvances, Agent may, in its sole discretion, elect to make, or permit
     to remain outstanding such US Overadvances; PROVIDED, HOWEVER, that Agent
     may not cause US Revolving Lenders to make, or permit to remain
     outstanding, (a) aggregate US Revolving Loans in excess of the US Maximum
     Amount or (b) US Overadvances in an aggregate amount in excess of
     US$1,500,000. If a US Overadvance is made, or permitted to remain
     outstanding, pursuant to the preceding sentence, then all US Revolving
     Lenders shall be bound to make, or permit to remain outstanding, such US
     Overadvance based upon their Pro Rata Shares of the US Revolving Loan
     Commitment in accordance with the terms of this Agreement. If a US
     Overadvance remains outstanding for more than ninety (90) days during any
     one hundred eighty (180) day period, US Revolving Loans must be repaid
     immediately in an amount sufficient to eliminate all of such US
     Overadvances. Furthermore, Revolving Requisite Lenders may prospectively
     revoke Agent's ability to make or permit US Overadvances by written notice
     to Agent.

          (d)     EUROPEAN REVOLVING LOANS.

          (i)     As of the date hereof, the outstanding principal balance of
     the Original European Revolving Loan is 416,739.29 Euros (the "OUTSTANDING
     ORIGINAL EUROPEAN REVOLVING LOAN BALANCE"). On the Closing Date, shall be
     continued and shall convert automatically, for all purposes of this
     Agreement to outstanding European Revolving Credit Advances hereunder owing
     to the European Revolving Lenders as if such European Revolving Credit
     Advances had been made by the such Lenders to the European Borrower
     hereunder on the Closing Date ratably in accordance with their respective
     Pro Rata Shares. Each European Revolving Lender agrees, severally and not
     jointly, to make available to European Borrower from time to time until the
     European

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     Commitment Termination Date such European Revolving Lender's Pro Rata Share
     of advances (each a "EUROPEAN REVOLVING CREDIT ADVANCE") requested by
     Borrower Representative on behalf of the European Borrower hereunder. The
     Pro Rata Share of the European Revolving Loan of any European Revolving
     Lender shall not at any time exceed its separate European Revolving Loan
     Commitment. European Revolving Credit Advances may be repaid and
     reborrowed; provided, that the amount of any European Revolving Credit
     Advance to be made at any time shall not exceed European Borrowing
     Availability. All European Revolving Loans shall be advanced, denominated
     and repayable in Euros. All European Revolving Loans shall be repaid in
     full on the European Commitment Termination Date. European Borrower shall
     execute and deliver to each European Revolving Lender a note to evidence
     the European Revolving Loan Commitment of that European Revolving Lender.
     Each note shall be in the principal amount of the European Revolving Loan
     Commitment of the applicable European Revolving Lender, dated the Closing
     Date and substantially in the form of EXHIBIT 1.1(d)(i) (each a "EUROPEAN
     REVOLVING NOTE" and, collectively, the "EUROPEAN REVOLVING NOTES"; together
     with the US Revolving Notes, each a "REVOLVING NOTE" and, collectively, the
     "REVOLVING NOTES"). No European Revolving Note shall be in a face principal
     amount of less than 50,000 Euros. Other than pursuant to SECTION
     1.1(d)(ii), if at any time the outstanding European Revolving Loans exceed
     the European Borrowing Base (any such excess European Revolving Loans are
     herein referred to collectively as "EUROPEAN OVERADVANCES"), Lenders shall
     not be obligated to make European Revolving Credit Advances, no additional
     European Letters of Credit shall be issued and, except as provided in
     SECTION 1.1(d)(ii) below, European Revolving Loans must be repaid
     immediately and European Letters of Credit cash collateralized in an amount
     sufficient to eliminate any European Overadvances. All European
     Overadvances shall constitute Index Rate Loans and shall bear interest at
     the Default Rate. All European Revolving Loans require three (3) Business
     Days prior written notice. Written notices for funding requests shall be in
     the form attached as EXHIBIT 1.1(d)(ii) ("NOTICE OF EUROPEAN REVOLVING
     CREDIT ADVANCE").

          (ii)    If Borrower Representative on behalf of European Borrower
     requests that European Revolving Lenders make, or permit to remain
     outstanding any European Overadvances, Agent may, in its sole discretion,
     elect to make, or permit to remain outstanding such European Overadvances;
     PROVIDED, HOWEVER, that Agent may not cause European Revolving Lenders to
     make, or permit to remain outstanding, (a) aggregate European Revolving
     Loans in excess of the European Maximum Amount or (b) European Overadvances
     in an aggregate amount in excess of 500,000 Euros. If a European
     Overadvance is made, or permitted to remain outstanding, pursuant to the
     preceding sentence, then all European Revolving Lenders shall be bound to
     make, or permit to remain outstanding, such European Overadvance based

                                     Annex A
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<Page>

     upon their Pro Rata Shares of the European Revolving Loan Commitment in
     accordance with the terms of this Agreement. If a European Overadvance
     remains outstanding for more than ninety (90) days during any one hundred
     eighty (180) day period, European Revolving Loans must be repaid
     immediately in an amount sufficient to eliminate all of such European
     Overadvances. Furthermore, Revolving Requisite Lenders may prospectively
     revoke Agent's ability to make or permit European Overadvances by written
     notice to Agent.

          (e)     INTENTIONALLY RESERVED.

          (f)     INTENTIONALLY RESERVED.

          (g)     US LETTERS OF CREDIT. The US Revolving Loan Commitment may, in
addition to advances under the US Revolving Loan, be utilized, upon the request
of Borrower Representative on behalf of the applicable US Borrower, for the
issuance of US Letters of Credit. Immediately upon the issuance by a US L/C
Issuer of a US Letter of Credit, and without further action on the part of Agent
or any of the Lenders, each US Revolving Lender shall be deemed to have
purchased from such US L/C Issuer a participation in such US Letter of Credit
(or in its obligation under a risk participation agreement with respect thereto)
equal to such US Revolving Lender's Pro Rata Share of the aggregate amount
available to be drawn under such US Letter of Credit.

          (i)     MAXIMUM AMOUNT. The aggregate amount of US Letter of Credit
     Obligations with respect to all US Letters of Credit outstanding at any
     time shall not exceed US$5,000,000 ("US L/C SUBLIMIT"). All US Letters of
     Credit shall be stated, denominated and repayable in US Dollars.

          (ii)    REIMBURSEMENT. US Borrowers shall be irrevocably and
     unconditionally obligated forthwith without presentment, protest or other
     formalities of any kind (including for purposes of SECTION 10), to
     reimburse any US L/C Issuer on demand in immediately available funds for
     any amounts paid by such US L/C Issuer with respect to a US Letter of
     Credit, including all reimbursement payments, Fees, Charges, costs and
     expenses paid by such US L/C Issuer, PROVIDED that such obligation to
     reimburse does not result from the gross negligence of such US L/C Issuer
     (but only if such US L/C Issuer is also a Lender), Agent or any US
     Revolving Lender or willful misconduct of such US L/C Issuer (but only if
     such US L/C Issuer is also a Lender), Agent or any US Revolving Lender in
     taking or omitting to take any actions in respect of such US Letter of
     Credit. US Borrowers hereby authorize and direct Agent, at Agent's option,
     to debit US Borrowers' account (by increasing the outstanding principal
     balance of the US Revolving Credit Advances) in the amount of any payment
     made by a US L/C Issuer with respect to any US Letter of Credit upon notice
     from Agent to Borrower Representative of such payment. All amounts paid by
     a US L/C Issuer with respect to any US Letter of Credit that are not repaid
     within one (1) Business Day by US Borrowers with the

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<Page>

     proceeds of a US Revolving Credit Advance or otherwise shall bear interest
     at the interest rate applicable to US Revolving Loans which are Index Rate
     Loans plus, at the election of Agent or Requisite Revolving Lenders, an
     additional two percent (2.00%) per annum. Each US Revolving Lender agrees
     to fund its Pro Rata Share of any US Revolving Loan made pursuant to this
     SECTION 1.1(g)(ii). In the event Agent elects not to debit US Borrowers'
     account and US Borrowers fail to reimburse the US L/C Issuer in full on the
     date when due for any payment made by the US L/C Issuer in respect of a US
     Letter of Credit, Agent shall promptly notify each US Revolving Lender of
     the amount of such unreimbursed payment and the accrued interest thereon
     and each US Revolving Lender, on the next Business Day prior to 3:00 p.m.
     (New York time), shall deliver to Agent an amount equal to its Pro Rata
     Share thereof in same day funds. Each US Revolving Lender hereby absolutely
     and unconditionally agrees to pay to the US L/C Issuer upon demand by the
     US L/C Issuer such US Revolving Lender's Pro Rata Share of each payment
     made by the US L/C Issuer in respect of a US Letter of Credit and not
     immediately reimbursed by US Borrowers or satisfied through a debit of US
     Borrowers' account. Each US Revolving Lender acknowledges and agrees that
     its obligations pursuant to this subsection in respect of US Letters of
     Credit are absolute and unconditional and shall not be affected by any
     circumstance whatsoever, including setoff, counterclaim, the occurrence and
     continuance of a Default or an Event of Default or any failure by US
     Borrowers to satisfy any of the conditions set forth in SECTION 7.2. If any
     US Revolving Lender fails to make available to the US L/C Issuer the amount
     of such US Revolving Lender's Pro Rata Share of any payments made by the US
     L/C Issuer in respect of a US Letter of Credit as provided in this SECTION
     1.1(g)(ii), the US L/C Issuer shall be entitled to recover such amount on
     demand from such US Revolving Lender together with interest at the Index
     Rate.

          (iii)   REQUEST FOR US LETTERS OF CREDIT. Borrower Representative
     shall give Agent at least three (3) Business Days prior written notice
     specifying the date a US Letter of Credit is requested to be issued (and
     Agent shall promptly forward such notice to the US L/C Issuer), the amount
     and the name and address of the beneficiary and a description of the
     transactions proposed to be supported thereby. If Agent informs Borrower
     Representative that the US L/C Issuer cannot issue the requested US Letter
     of Credit directly, Borrower Representative may request that US L/C Issuer
     arrange (and the US L/C Issuer will use reasonable efforts to so arrange)
     for the issuance of the requested US Letter of Credit under a risk
     participation agreement with another financial institution reasonably
     acceptable to Agent, US L/C Issuer and Borrower Representative. The
     issuance of any US Letter of Credit under this Agreement shall be subject
     to the conditions set forth in Section 7.2 of this Agreement and that (i)
     the US Letter of Credit (a) supports a transaction entered into in the
     ordinary course of business of US Borrowers and (b) is in a form, and
     contains such terms and conditions as are reasonably satisfactory to

                                     Annex A
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<Page>

     the US L/C Issuer and, in the case of standby letters of credit, Agent;
     (ii) no order, judgment or decree of any court, arbitrator or governmental
     authority shall purport by its terms to enjoin or restrain the US L/C
     Issuer from issuing the US Letter of Credit requested; and (iii) no law,
     rule, regulation, request or directive (whether or not having the force of
     law) shall prohibit or request that US L/C Issuer refrain from issuing the
     requested US Letter of Credit requested or letters of credit generally. The
     initial notice requesting the issuance of a US Letter of Credit shall be
     accompanied by the form of the US Letter of Credit and an application for a
     letter of credit, if any, then required by the US L/C Issuer completed in a
     manner satisfactory to such US L/C Issuer. If any provision of any
     application or reimbursement agreement is inconsistent with the terms of
     this Agreement, then the provisions of this Agreement, to the extent of
     such inconsistency, shall control.

          (iv)    EXPIRATION DATES OF US LETTERS OF CREDIT. The expiration date
     of each US Letter of Credit shall be on a date which is not later than the
     earlier of (a) one year from its date of issuance or (b) the thirtieth
     (30th) day prior to the date set forth in clause (a) of the definition of
     the term US Commitment Termination Date; provided, such expiration date may
     be later than the date referred to in clause (b) above so long as such
     expiration is still no more than one year from the date of issuance of such
     US Letter of Credit and on or prior to the issuance of such US Letter of
     Credit US Borrowers deposit with Agent for the benefit of all US Revolving
     Lenders cash in an amount equal to 105% of the aggregate outstanding US
     Letter of Credit Obligations to be available to Agent to reimburse payments
     of drafts drawn under such US Letters of Credit and pay any Fees and
     expenses related thereto. Notwithstanding the foregoing, a US Letter of
     Credit may provide for automatic extensions of its expiration date for one
     (1) or more successive one (1) year periods provided that the US L/C Issuer
     has the right to terminate such US Letter of Credit on each such annual
     expiration date and, except as provided in the immediately preceding
     sentence, no extension term may extend the term of the US Letter of Credit
     to a date that is later than the thirtieth (30th) day prior to the date set
     forth in clause (a) of the definition of the term US Commitment Termination
     Date. The US L/C Issuer may elect not to extend any such US Letter of
     Credit and, upon direction by Agent or Requisite Revolving Lenders, shall
     not renew any such US Letter of Credit at any time during the continuance
     of an Event of Default, provided that, in the case of a direction by Agent
     or Requisite Revolving Lenders, (i) the US L/C Issuer receives such
     direction prior to the date notice of non-renewal is required to be given
     by the US L/C Issuer and the US L/C Issuer has had a reasonable period of
     time (which in no event shall be less than two Business Days) to act on
     such notice and (ii) notwithstanding such direction by Agent or Requisite
     Revolving Lenders, any US Revolving Lender may still choose to participate
     in renewing such US Letter of Credit.

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<Page>

          (v)     OBLIGATIONS ABSOLUTE. The obligation of US Borrowers to
     reimburse the US L/C Issuer, Agent and Lenders for payments made in respect
     of US Letters of Credit issued by the US L/C Issuer shall be unconditional
     and irrevocable and shall be paid under all circumstances strictly in
     accordance with the terms of this Agreement, including the following
     circumstances: (a) any lack of validity or enforceability of any US Letter
     of Credit or of any Loan Document; (b) any amendment or waiver of or any
     consent or departure from all or any of the provisions of any US Letter of
     Credit or any Loan Document; (c) the existence of any claim, set-off,
     defense or other right which US Borrowers, any of their Subsidiaries or
     Affiliates or any other Person may at any time have against any beneficiary
     of any US Letter of Credit, Agent, any US L/C Issuer, any Lender or any
     other Person, whether in connection with this Agreement, any other Loan
     Document or any other related or unrelated agreements or transactions; (d)
     any draft or other document presented under any US Letter of Credit proving
     to be forged, fraudulent, invalid or insufficient in any respect or any
     statement therein being untrue or inaccurate in any respect; (e) payment
     under any US Letter of Credit against presentation of a draft or other
     document that does not substantially comply with the terms of such US
     Letter of Credit; or (f) any other act or omission to act or delay of any
     kind of any US L/C Issuer, Agent, any Lender or any other Person or any
     other event or circumstance whatsoever that might, but for the provisions
     of this SECTION 1.1(g)(v), constitute a legal or equitable discharge of US
     Borrowers' obligations hereunder.

          (vi)    OBLIGATIONS OF US L/C ISSUERS. Each US L/C Issuer hereby
     agrees that it will not issue a US Letter of Credit hereunder until it has
     provided Agent with written notice specifying the amount and intended
     issuance date of such US Letter of Credit (which such US L/C Issuer agrees
     to promptly so provide) and Agent has returned a written acknowledgment
     (which Agent agrees to promptly so return) of such notice to US L/C Issuer.
     Each US L/C Issuer further agrees to provide to Agent: (a) a copy of each
     US Letter of Credit issued by such US L/C Issuer promptly after its
     issuance; (b) a weekly report summarizing available amounts under US
     Letters of Credit issued by such US L/C Issuer, the dates and amounts of
     any draws under such US Letters of Credit, the effective date of any
     increase or decrease in the face amount of any US Letters of Credit during
     such week and the amount of any unreimbursed draws under such US Letters of
     Credit; and (c) such additional information reasonably requested by Agent
     from time to time with respect to the US Letters of Credit issued by such
     US L/C Issuer. Without limiting the generality of the foregoing, it is
     expressly understood and agreed by US Borrowers that the absolute and
     unconditional obligation of US Borrowers to Agent and Lenders hereunder to
     reimburse payments made under a US Letter of Credit will not be excused by
     the gross negligence or willful misconduct of the US L/C Issuer (except if
     the US L/C Issuer which issued such Letter of Credit is the Agent or a
     Lender). However, the foregoing shall not be

                                     Annex A
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<Page>

     construed to excuse a US L/C Issuer from liability to US Borrowers to the
     extent of any direct damages (as opposed to consequential damages, with US
     Borrowers hereby waiving all claims for any consequential damages to the
     extent permitted by applicable law) suffered by US Borrowers.

          (h)     EUROPEAN LETTERS OF CREDIT. The European Revolving Loan
Commitment may, in addition to advances under the European Revolving Loan, be
utilized, upon the request of Borrower Representative on behalf of the European
Borrower, for the issuance of European Letters of Credit. Immediately upon the
issuance by a European L/C Issuer of a European Letter of Credit, and without
further action on the part of Agent or any of the Lenders, each European
Revolving Lender shall be deemed to have purchased from such European L/C Issuer
a participation in such European Letter of Credit (or in its obligation under a
risk participation agreement with respect thereto) equal to such European
Revolving Lender's Pro Rata Share of the aggregate amount available to be drawn
under such European Letter of Credit.

          (i)     MAXIMUM AMOUNT. The aggregate amount of European Letter of
     Credit Obligations with respect to all European Letters of Credit
     outstanding at any time shall not exceed 2,000,000 Euros ("EUROPEAN L/C
     SUBLIMIT"). All European Letters of Credit shall be stated, denominated and
     repayable in Euros.

          (ii)    REIMBURSEMENT. European Borrower shall be irrevocably and
     unconditionally obligated forthwith without presentment, protest or other
     formalities of any kind (including for purposes of SECTION 10), to
     reimburse any European L/C Issuer on demand in immediately available funds
     for any amounts paid by such European L/C Issuer with respect to a European
     Letter of Credit, including all reimbursement payments, Fees, Charges,
     costs and expenses paid by such European L/C Issuer, PROVIDED that such
     obligation to reimburse does not result from the gross negligence of such
     European L/C Issuer (but only if such European L/C Issuer is also a
     Lender), Agent or any European Revolving Lender or willful misconduct of
     such European L/C Issuer (but only if such European L/C Issuer is also a
     Lender), Agent or any European Revolving Lender in taking or omitting to
     take any actions in respect of such European Letter of Credit. European
     Borrower hereby authorizes and directs Agent, at Agent's option, to debit
     European Borrower's account (by increasing the outstanding principal
     balance of the European Revolving Credit Advances) in the amount of any
     payment made by a European L/C Issuer with respect to any European Letter
     of Credit upon notice from Agent to Borrower Representative of such
     payment. All amounts paid by a European L/C Issuer with respect to any
     European Letter of Credit that are not repaid within one (1) Business Day
     by European Borrower with the proceeds of a European Revolving Credit
     Advance or otherwise shall bear interest at the interest rate applicable to
     European Revolving Loans which are Index Rate Loans plus, at the election
     of Agent or Requisite Revolving Lenders, an additional two percent (2.00%)
     per annum. Each European Revolving Lender agrees to fund

                                     Annex A
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<Page>

     its Pro Rata Share of any European Revolving Loan made pursuant to this
     SECTION 1.1(h)(ii). In the event Agent elects not to debit European
     Borrower's account and European Borrower fails to reimburse the European
     L/C Issuer in full on the date of any payment in respect of a European
     Letter of Credit, Agent shall promptly notify each European Revolving
     Lender of the amount of such unreimbursed payment and the accrued interest
     thereon and each European Revolving Lender, on the next Business Day prior
     to 3:00 p.m. (New York time), shall deliver to Agent an amount equal to its
     Pro Rata Share thereof in same day funds. Each European Revolving Lender
     hereby absolutely and unconditionally agrees to pay to the European L/C
     Issuer upon demand by the European L/C Issuer such European Revolving
     Lender's Pro Rata Share of each payment made by the European L/C Issuer in
     respect of a European Letter of Credit and not immediately reimbursed by
     European Borrower or satisfied through a debit of European Borrower's
     account. Each European Revolving Lender acknowledges and agrees that its
     obligations pursuant to this subsection in respect of European Letters of
     Credit are absolute and unconditional and shall not be affected by any
     circumstance whatsoever, including setoff, counterclaim, the occurrence and
     continuance of a Default or an Event of Default or any failure by European
     Borrower to satisfy any of the conditions set forth in SECTION 7.2. If any
     European Revolving Lender fails to make available to the European L/C
     Issuer the amount of such European Revolving Lender's Pro Rata Share of any
     payments made by the European L/C Issuer in respect of a European Letter of
     Credit as provided in this SECTION 1.1(h)(ii), the European L/C Issuer
     shall be entitled to recover such amount on demand from such European
     Revolving Lender together with interest at the Index Rate.

          (iii)   REQUEST FOR EUROPEAN LETTERS OF CREDIT. Borrower
     Representative shall give Agent at least three (3) Business Days prior
     written notice specifying the date a European Letter of Credit is requested
     to be issued (and Agent shall promptly forward such notice to European L/C
     Issuer), the amount and the name and address of the beneficiary and a
     description of the transactions proposed to be supported thereby. If Agent
     informs Borrower Representative that the European L/C Issuer cannot issue
     the requested European Letter of Credit directly, Borrower Representative
     may request that European L/C Issuer arrange (and the European L/C Issuer
     will use reasonable efforts to so arrange) for the issuance of the
     requested European Letter of Credit under a risk participation agreement
     with another financial institution reasonably acceptable to Agent, European
     L/C Issuer and Borrower Representative. The issuance of any European Letter
     of Credit under this Agreement shall be subject to the conditions set forth
     in Section 7.2 of this Agreement and that (i) the European Letter of Credit
     (a) supports a transaction entered into in the ordinary course of business
     of European Borrower and (b) is in a form, and contains such terms and
     conditions as are reasonably satisfactory to the European L/C Issuer and,
     in the case of standby letters of

                                     Annex A
                                     Page 14
<Page>

     credit, Agent; (ii) no order, judgment or decree of any court, arbitrator
     or governmental authority shall purport by its terms to enjoin or restrain
     the European L/C Issuer from issuing the European Letter of Credit
     requested; and (iii) no law, rule, regulation, request or directive
     (whether or not having the force of law) shall prohibit or request that
     European L/C Issuer refrain from issuing the requested European Letter of
     Credit requested or letters of credit generally. The initial notice
     requesting the issuance of a European Letter of Credit shall be accompanied
     by the form of the European Letter of Credit and an application for a
     letter of credit, if any, then required by the European L/C Issuer
     completed in a manner satisfactory to such European L/C Issuer. If any
     provision of any application or reimbursement agreement is inconsistent
     with the terms of this Agreement, then the provisions of this Agreement, to
     the extent of such inconsistency, shall control.

          (iv)    EXPIRATION DATES OF EUROPEAN LETTERS OF CREDIT. The expiration
     date of each European Letter of Credit shall be on a date which is not
     later than the earlier of (a) one year from its date of issuance or (b) the
     thirtieth (30th) day prior to the date set forth in clause (a) of the
     definition of the term European Commitment Termination Date; provided, such
     expiration date may be later than the date referred to in clause (b) above
     so long as such expiration is still no more than one year from the date of
     issuance of such European Letter of Credit and on or prior to the issuance
     of such European Letter of Credit European Borrower deposits with Agent for
     the benefit of all European Revolving Lenders cash in an amount equal to
     105% of the aggregate outstanding European Letter of Credit Obligations to
     be available to Agent to reimburse payments of drafts drawn under such
     European Letters of Credit and pay any Fees and expenses related thereto.
     Notwithstanding the foregoing, a European Letter of Credit may provide for
     automatic extensions of its expiration date for one (1) or more successive
     one (1) year periods provided that the European L/C Issuer has the right to
     terminate such European Letter of Credit on each such annual expiration
     date and, except as provided in the immediately preceding sentence, no
     extension term may extend the term of the European Letter of Credit to a
     date that is later than the thirtieth (30th) day prior to the date set
     forth in clause (a) of the definition of the term European Commitment
     Termination Date. The European L/C Issuer may elect not to renew any such
     European Letter of Credit and, upon direction by Agent or Requisite
     Revolving Lenders, shall not extend any such European Letter of Credit at
     any time during the continuance of an Event of Default, provided that, in
     the case of a direction by Agent or Requisite Revolving Lenders, (i) the
     European L/C Issuer receives such direction prior to the date notice of
     non-renewal is required to be given by the European L/C Issuer and the
     European L/C Issuer has had a reasonable period of time (which in no event
     shall be less than two Business Days) to act on such notice and (ii)
     notwithstanding such direction by Agent or Requisite Revolving Lenders, any
     European Revolving

                                     Annex A
                                     Page 15
<Page>

     Lender may still choose to participate in renewing such European Letter of
     Credit.

          (v)     OBLIGATIONS ABSOLUTE. The obligation of European Borrower to
     reimburse the European L/C Issuer, Agent and Lenders for payments made in
     respect of European Letters of Credit issued by the European L/C Issuer
     shall be unconditional and irrevocable and shall be paid under all
     circumstances strictly in accordance with the terms of this Agreement,
     including the following circumstances: (a) any lack of validity or
     enforceability of any European Letter of Credit or of any Loan Document;
     (b) any amendment or waiver of or any consent or departure from all or any
     of the provisions of any European Letter of Credit or any Loan Document;
     (c) the existence of any claim, set-off, defense or other right which
     European Borrower, any of its Subsidiaries or Affiliates or any other
     Person may at any time have against any beneficiary of any European Letter
     of Credit, Agent, any European L/C Issuer, any Lender or any other Person,
     whether in connection with this Agreement, any other Loan Document or any
     other related or unrelated agreements or transactions; (d) any draft or
     other document presented under any European Letter of Credit proving to be
     forged, fraudulent, invalid or insufficient in any respect or any statement
     therein being untrue or inaccurate in any respect; (e) payment under any
     European Letter of Credit against presentation of a draft or other document
     that does not substantially comply with the terms of such European Letter
     of Credit; or (f) any other act or omission to act or delay of any kind of
     any European L/C Issuer, Agent, any Lender or any other Person or any other
     event or circumstance whatsoever that might, but for the provisions of this
     SECTION 1.1(h)(v), constitute a legal or equitable discharge of European
     Borrower's obligations hereunder.

          (vi)    OBLIGATIONS OF EUROPEAN L/C ISSUERS. Each European L/C Issuer
     hereby agrees that it will not issue a European Letter of Credit hereunder
     until it has provided Agent with written notice specifying the amount and
     intended issuance date of such European Letter of Credit (which such
     European L/C Issuer agrees to promptly so provide) and Agent has returned a
     written acknowledgment (which Agent agrees to promptly so return) of such
     notice to European L/C Issuer. Each European L/C Issuer further agrees to
     provide to Agent: (a) a copy of each European Letter of Credit issued by
     such European L/C Issuer promptly after its issuance; (b) a weekly report
     summarizing available amounts under European Letters of Credit issued by
     such European L/C Issuer, the dates and amounts of any draws under such
     European Letters of Credit, the effective date of any increase or decrease
     in the face amount of any European Letters of Credit during such week and
     the amount of any unreimbursed draws under such European Letters of Credit;
     and (c) such additional information reasonably requested by Agent from time
     to time with respect to the European Letters of Credit issued by such
     European L/C Issuer. Without limiting the generality of the foregoing, it
     is

                                     Annex A
                                     Page 16
<Page>

     expressly understood and agreed by European Borrower that the absolute and
     unconditional obligation of European Borrower to Agent and Lenders
     hereunder to reimburse payments made under a European Letter of Credit will
     not be excused by the gross negligence or willful misconduct of the
     European L/C Issuer (except if the European L/C Issuer which issued such
     Letter of Credit is the Agent or a Lender). However, the foregoing shall
     not be construed to excuse a European L/C Issuer from liability to European
     Borrower to the extent of any direct damages (as opposed to consequential
     damages, with European Borrower hereby waiving all claims for any
     consequential damages to the extent permitted by applicable law) suffered
     by European Borrower.

          (i)     US FUNDING AUTHORIZATION. The proceeds of all US Loans made
pursuant to this Agreement subsequent to the Closing Date are to be funded by
Agent by wire transfer to the account designated by Borrower Representative
below (the "US DISBURSEMENT ACCOUNT"):

          Bank:                  Comerica Bank
          ABA No.:               072000096
          Bank Address:          500 Woodward Avenue
                                 Detroit, Michigan  48226
          Account No.:           1851121176
          Reference:             SportRack/Jerry Burley

Borrower Representative shall provide Agent with written notice of any change in
the foregoing instructions at least three (3) Business Days before the desired
effective date of such change.

          (j)     EUROPEAN FUNDING AUTHORIZATION. The proceeds of all European
Loans made pursuant to this Agreement subsequent to the Closing Date are to be
funded by Agent by wire transfer to the account designated by Borrower
Representative below (the "EUROPEAN DISBURSEMENT ACCOUNT"):

          Bank:                  ABN Amro Bank N.V., Eindhoven
          Swift:                 ABN ANL 2A
          Bank Address:          PO Box 515
                                 5600 Eindoven
                                 The Netherlands
          Account No.:           54 71 46 337
          Reference:             Brink / P van Buren

Borrower Representative shall provide Agent with written notice of any change in
the foregoing instructions at least three (3) Business Days before the desired
effective date of such change.

                                     Annex A
                                     Page 17
<Page>

          Section 1.2   INTEREST AND APPLICABLE MARGINS.

          (a)     US LOANS. US Borrowers shall pay interest to Agent, for the
ratable benefit of US Lenders, in accordance with the various US Loans being
made by each US Lender, in arrears on each applicable Interest Payment Date, at
the following rates: with respect to the US Revolving Credit Advances which are
designated as Index Rate Loans (and for all other Obligations of US Borrowers
not otherwise set forth below), the Index Rate plus the Applicable US Revolver
Index Margin per annum or, with respect to US Revolving Credit Advances which
are designated as LIBOR Loans, at the election of Borrower Representative, the
applicable LIBOR Rate plus the Applicable US Revolver LIBOR Margin per annum..

          The Applicable Margins pertaining to the US Loans are as follows:

<Table>
     <S>                                                 <C>
     Applicable US Revolver Index Margin                 2.25%
     Applicable US Revolver LIBOR Margin                 3.75%
     Applicable US L/C Margin                            3.75%
</Table>

          (b)     EUROPEAN LOANS. European Borrower shall pay interest to Agent,
for the ratable benefit of European Lenders, in accordance with the various
European Loans being made by each European Lender, in arrears on each applicable
Interest Payment Date, at the following rates: (i) with respect to the European
Revolving Credit Advances which are designated as Index Rate Loans (and for all
other Obligations of European Borrower not otherwise set forth below), the Index
Rate plus the Applicable European Revolver Index Margin per annum or, with
respect to European Revolving Credit Advances which are designated as LIBOR
Loans, at the election of Borrower Representative, the applicable LIBOR Rate
plus the Applicable European Revolver LIBOR Margin per annum; and (ii) with
respect to such portion of the European Term Loan designated as an Index Rate
Loan, the Index Rate plus the Applicable European Term Loan Index Margin per
annum or, with respect to such portion of the European Term Loan designated as a
LIBOR Loan, the applicable LIBOR Rate plus the Applicable European Term Loan
LIBOR Margin per annum.

          The Applicable Margins pertaining to the European Loans are as
          follows:

<Table>
     <S>                                                 <C>
     Applicable European Revolver Index Margin           2.25%
     Applicable European Revolver LIBOR Margin           3.75%
     Applicable European Term Loan Index Margin          2.25%
     Applicable European Term Loan LIBOR Margin          3.75%
     Applicable European L/C Margin                      3.75%
</Table>

          (c)     If any payment on any Loan becomes due and payable on a day
other than a Business Day, the maturity thereof will be extended to the next
succeeding Business Day (except as set forth in the definition of LIBOR Period)
and, with respect to payments of principal, interest thereon shall be payable at
the then applicable rate during such extension.

                                     Annex A
                                     Page 18
<Page>

          (d)     All computations of Fees calculated on a per annum basis and
interest shall be made by Agent on the basis of a 360-day year, in each case for
the actual number of days occurring in the period for which such Fees and
interest are payable. The Index Rate is a floating rate determined for each day.
Each determination by Agent of an interest rate and Fees hereunder shall be
final, binding and conclusive on Borrowers, absent manifest error.

          (e)     At the election of Agent (or upon the written request of
Requisite Lenders), confirmed by written notice from Agent to Borrower
Representative, after the occurrence, and during the continuation, of an Event
of Default described in SECTIONS 6.1(a), 6.1(c) (resulting from non compliance
with SECTION 2.9, 4.4, 4.7, 4.8(d) or 4.8(n)) or 6.1(j), and automatically and
without notice of any kind after the occurrence, and during the continuation, of
an Event of Default described in SECTION 6.1(f) or 6.1(g), the interest rates
applicable to the Loans and the Letter of Credit Fee shall be increased by two
percentage points (2%) per annum above the rates of interest or the rate of such
Fee otherwise applicable hereunder ("DEFAULT RATE"), and all outstanding
Obligations shall bear interest at the Default Rate applicable to such
Obligations. Interest and Letter of Credit Fees at the Default Rate shall accrue
from the initial date of such Event of Default until that Event of Default is
cured or waived and shall be payable upon demand, but in any event, shall be
payable on the next regularly scheduled payment date set forth herein for such
Obligation.

          (f)     Borrower Representative shall have the option, with respect to
the US Loans or European Loans, as applicable, to (i) request that any Revolving
Credit Advance be made as a LIBOR Loan, (ii) convert at any time all or any part
of outstanding Loans from Index Rate Loans to LIBOR Loans, (iii) convert any
LIBOR Loan to an Index Rate Loan, subject to payment of the LIBOR Breakage Fee
in accordance with SECTION 1.3(d) if such conversion is made prior to the
expiration of the LIBOR Period applicable thereto, or (iv) continue all or any
portion of any Loan as a LIBOR Loan upon the expiration of the applicable LIBOR
Period and the succeeding LIBOR Period of that continued Loan shall commence on
the first day after the last day of the LIBOR Period of the Loan to be
continued. Any US Loan or group of US Loans having the same proposed LIBOR
Period to be made or continued as, or converted into, a LIBOR Loan must be in a
minimum amount of US$1,000,000 and integral multiples of US$500,000 in excess of
such amount. Any European Loan or group of European Loans having the same
proposed LIBOR Period to be made or continued as, or converted into, a LIBOR
Loan must be in a minimum amount of 500,000 Euros and integral multiples of
250,000 Euros in excess of such amount. Any such election must be made by 1:00
p.m. (New York time) on the 3rd Business Day prior to (1) the date of any
proposed Revolving Credit Advance which is to bear interest at the LIBOR Rate,
(2) the end of each LIBOR Period with respect to any LIBOR Loans to be continued
as such, or (3) the date on which Borrower Representative wishes to convert any
Index Rate Loan to a LIBOR Loan for a LIBOR Period designated by Borrower
Representative in such election. If no election is received with respect to a
LIBOR Loan by 1:00 p.m. (New York time) on the 3rd Business Day prior to the end
of the LIBOR Period with respect thereto, that LIBOR Loan shall be converted to
an Index Rate Loan at the end of its LIBOR Period. Borrower Representative must
make such election by notice to Agent in writing, by fax or overnight courier.
In the case of any conversion or continuation, such

                                     Annex A
                                     Page 19
<Page>

election must be made pursuant to a written notice (a "NOTICE OF
CONVERSION/CONTINUATION") in the form of EXHIBIT 1.2(f). No Loan shall be made,
converted into or continued as a LIBOR Loan, if an Event of Default has occurred
and is continuing and Agent or Requisite Lenders have determined not to make or
continue any Loan as a LIBOR Loan as a result thereof.

          (g)     Notwithstanding anything to the contrary set forth in this
SECTION 1.2, if a court of competent jurisdiction determines in a final order
that the rate of interest payable hereunder exceeds the highest rate of interest
permissible under law (the "MAXIMUM LAWFUL RATE"), then so long as the Maximum
Lawful Rate would be so exceeded, the rate of interest payable hereunder shall
be equal to the Maximum Lawful Rate; PROVIDED, HOWEVER, that if at any time
thereafter the rate of interest payable hereunder is less than the Maximum
Lawful Rate, Borrowers shall continue to pay interest hereunder at the Maximum
Lawful Rate until such time as the total interest received by Agent, on behalf
of Lenders, is equal to the total interest that would have been received had the
interest rate payable hereunder been (but for the operation of this paragraph)
the interest rate payable since the Closing Date as otherwise provided in this
Agreement. Thereafter, interest hereunder shall be paid at the rate(s) of
interest and in the manner provided in SECTIONS 1.2(a) THROUGH (f), unless and
until the rate of interest again exceeds the Maximum Lawful Rate, and at that
time this paragraph shall again apply. In no event shall the total interest
received by any Lender pursuant to the terms hereof exceed the amount that such
Lender could lawfully have received had the interest due hereunder been
calculated for the full term hereof at the Maximum Lawful Rate. If the Maximum
Lawful Rate is calculated pursuant to this paragraph, such interest shall be
calculated at a daily rate equal to the Maximum Lawful Rate divided by the
number of days in the year in which such calculation is made. If,
notwithstanding the provisions of this SECTION 1.2(g), a court of competent
jurisdiction shall determine by a final, non-appealable order that a Lender has
received interest hereunder in excess of the Maximum Lawful Rate, Agent shall,
to the extent permitted by applicable law, promptly apply such excess as
specified in SECTION 1.5(e) and thereafter shall refund any excess to Borrowers
or as such court of competent jurisdiction may otherwise order.

          Section 1.3   FEES

          (a)     FEE LETTER. Borrowers shall pay to GE Capital, individually,
     the Fees specified in that certain fee letter of even date herewith among
     Borrowers and GE Capital (the "GE CAPITAL FEE LETTER"), at the times
     specified for payment therein.

          (b)     UNUSED LINE FEES.

          (i)     US LOANS. As additional compensation for the US Revolving
     Lenders, US Borrowers shall pay to Agent, for the ratable benefit of such
     Lenders, in arrears, on the first Business Day of each month prior to the
     US Commitment Termination Date and on the US Commitment Termination Date, a
     fee for US Borrowers' non-use of available funds in an amount equal to the
     Applicable US Unused Line Fee Margin per annum multiplied by the difference
     between (x) the US Maximum Amount (as it may be reduced from

                                     Annex A
                                     Page 20
<Page>

     time to time) and (y) the average for the period of the daily closing
     balances of the US Revolving Loan outstanding during the period for which
     such Fee is due.

          (ii)    EUROPEAN LOANS. As additional compensation for the European
     Revolving Lenders, European Borrower shall pay to Agent, for the ratable
     benefit of such Lenders, in arrears, on the first Business Day of each
     month prior to the European Commitment Termination Date and on the European
     Commitment Termination Date, a fee for European Borrower's non-use of
     available funds in an amount equal to the Applicable European Unused Line
     Fee Margin per annum multiplied by the difference between (x) the European
     Maximum Amount (as it may be reduced from time to time) and (y) the average
     for the period of the daily closing balances of the European Revolving Loan
     outstanding during the period for which such Fee is due.

          (c)     LETTER OF CREDIT FEES.

          (i)     US LETTERS OF CREDIT. US Borrowers agree to pay to Agent for
     the benefit of US Revolving Lenders, as compensation to such US Revolving
     Lenders for US Letter of Credit Obligations incurred hereunder, (i) all
     reasonable costs and expenses, if any, incurred by Agent or any Lender on
     account of such US Letter of Credit Obligations, and (ii) for each month
     during which any US Letter of Credit Obligation shall remain outstanding, a
     fee (the "US LETTER OF CREDIT FEE") in an amount equal to the Applicable US
     L/C Margin from time to time in effect multiplied by the average for the
     period of the maximum amount available from time to time to be drawn under
     the applicable US Letter of Credit. Such fee shall be paid to Agent for the
     benefit of the US Revolving Lenders in arrears, on the first Business Day
     of each month and on the US Commitment Termination Date. In addition, US
     Borrowers shall pay to any US L/C Issuer, promptly after receipt of
     documentation in support thereof, such fees (including all per annum fees),
     charges and expenses, including attorney fees and expenses, (provided if
     the US L/C Issuer is a Lender, such expenses, including attorney fees and
     expenses, must be reasonable) of such US L/C Issuer in respect of (i) the
     issuance, negotiation, acceptance, amendment, transfer and payment of such
     US Letter of Credit or otherwise payable pursuant to the application and
     related documentation under which such US Letter of Credit is issued and
     (ii) any action or proceeding relating to a court order, injunction or
     other process or decree restraining or seeking to restrain the US L/C
     Issuer from paying any amount under, or otherwise relating in any way to,
     any US Letter of Credit.

          (ii)    EUROPEAN LETTERS OF CREDIT. European Borrower agrees to pay to
     Agent for the benefit of European Revolving Lenders, as compensation to
     such European Revolving Lenders for European Letter of Credit Obligations
     incurred hereunder, (i) all reasonable costs and expenses, if any, incurred
     by Agent or any Lender on account of such European Letter of Credit

                                     Annex A
                                     Page 21
<Page>

     Obligations, and (ii) for each month during which any European Letter of
     Credit Obligation shall remain outstanding, a fee (the "EUROPEAN LETTER OF
     CREDIT FEE") in an amount equal to the Applicable European L/C Margin from
     time to time in effect multiplied by the average for the period of the
     maximum amount available from time to time to be drawn under the applicable
     European Letter of Credit. Such fee shall be paid to Agent for the benefit
     of the European Revolving Lenders in arrears, on the first Business Day of
     each month and on the European Commitment Termination Date. In addition,
     European Borrower shall pay to any European L/C Issuer, promptly after
     receipt of documentation in support thereof, such fees (including all per
     annum fees), charges and expenses, including attorney fees and expenses,
     (provided if the European L/C Issuer is a Lender, such expenses, including
     attorney fees and expenses, must be reasonable) of such European L/C Issuer
     in respect of (i) the issuance, negotiation, acceptance, amendment,
     transfer and payment of such European Letter of Credit or otherwise payable
     pursuant to the application and related documentation under which such
     European Letter of Credit is issued and (ii) any action or proceeding
     relating to a court order, injunction or other process or decree
     restraining or seeking to restrain the European L/C Issuer from paying any
     amount under, or otherwise relating in any way to, any European Letter of
     Credit.

          (d)     LIBOR BREAKAGE FEE. Upon (i) any default by any Borrower in
making any borrowing of, conversion into or continuation of any LIBOR Loan
following Borrower Representative's delivery to Agent of any LIBOR Loan request
in respect thereof or (ii) any payment of a LIBOR Loan on any day that is not
the last day of the LIBOR Period applicable thereto (regardless of the source of
such prepayment and whether voluntary, by acceleration or otherwise), Borrowers
(provided that if the LIBOR Breakage Fee pertains to a US Loan and not a
European Loan, only the US Borrowers, and not the European Borrower, shall be
liable for such Breakage Fee) shall pay Agent, for the benefit of all Lenders
that funded or were prepared to fund any such LIBOR Loan, the LIBOR Breakage
Fee.

          (e)     EXPENSES AND ATTORNEYS' FEES. Borrowers agree to pay all fees,
charges, costs and expenses (including reasonable attorneys' fees and expenses
and the allocated cost of internal legal staff) incurred by Agent in connection
with any matters contemplated by or arising out of the Loan Documents, in
connection with the examination, review, due diligence investigation,
documentation, negotiation, closing and syndication of the transactions
contemplated herein and in connection with the continued administration of the
Loan Documents including any amendments, modifications, consents and waivers.
Borrowers agree to promptly pay reasonable documentation charges assessed by
Agent for amendments, waivers, consents and any of the documentation prepared by
Agent's internal legal staff. Borrowers agree to pay all fees, charges, costs
and expenses (including fees, charges, costs and expenses of attorneys, auditors
(whether internal or external), appraisers, consultants and advisors and the
allocated cost of internal legal staff) incurred by Agent in connection with any
Event of Default, work-out or action to enforce any Loan Document or to collect
any payments due from Borrowers or any other Credit Party. In addition, in

                                     Annex A
                                     Page 22
<Page>

connection with the Lender Risk Allocation Agreement, Borrowers agree to
reimburse Agent and Lenders for any foreign exchange costs incurred by Agent or
Lenders resulting from converting currencies to the extent necessary and in
accordance with this Agreement; PROVIDED, that Borrowers shall have no
obligations under this sentence of Section 1.3(e) by reason of any conversion
costs incurred by any Lender in respect of a conversion made after the
Conversion Date. In addition, in connection with any work-out or action to
enforce any Loan Document or to collect any payments due from Borrowers or any
other Credit Party, Borrowers agree to promptly pay all fees, charges, costs and
expenses incurred by Lenders for one (1) counsel acting for all Lenders other
than Agent. All fees, charges, costs and expenses for which Borrowers are
responsible under this SECTION 1.3(e) shall be (i) deemed part of the
Obligations when incurred and be secured by the Collateral and (ii) payable (x)
within 10 Business Days (or within 5 Business Days during the continuance of an
Event of Default) after demand by Agent to Borrower Representative accompanied
by supporting documentation in reasonable detail; provided if Borrower
Representative notifies Agent prior to the end of such 10 Business Day period
(or such 5 Business Day period, as applicable) that it is disputing any such
fees, charges, costs and/or expenses that exceed the US Dollar Equivalent of
$15,000 in the aggregate, such fees, charges, costs and/or expenses shall not be
payable until the earlier of the date that such dispute is resolved or 30 days
(or during the continuance of an Event of Default, 10 Business Days) from the
date that Agent first made demand for such fees, charges, costs and/or expenses.
Once such amounts become payable, they may be paid in accordance with the second
to last paragraph of SECTION 1.4.

          Section 1.4   PAYMENTS.

          All payments by US Borrowers of the Obligations shall be without
deduction, defense, setoff or counterclaim and shall be made in US Dollars (or
in Euros with respect to the European Obligations) in same day funds and
delivered to Agent, for the benefit of Agent and Lenders, as applicable, by wire
transfer to the following account or such other place as Agent may from time to
time designate in writing.

                  ABA No. 021-001-033
                  Account Number 502-328-54
                  Bankers Trust Company
                  New York, New York
                  ACCOUNT NAME: GECC/CAF DEPOSITORY
                  Reference:  GE Capital re Advanced Accessories

          All payments by European Borrowers of the European Obligations shall
be made in Euros without deduction, defense, setoff or counterclaim and shall be
made in same day funds and delivered to Agent, for the benefit of Agent and
Lenders, as applicable, by wire transfer to the following account or such other
place as Agent may from time to time designate in writing.

                  Deutsche Bank, Frankfurt
                  Account Number: 175071000
                  Account Name: GE Capital Corp Comm

                                     Annex A
                                     Page 23
<Page>

                  Sort Code: 50070010
                  Swift Code: Deutdeff
                  Reference:  GE Capital re Advanced Accessories

Borrowers shall receive credit on the day of receipt for funds received by Agent
by 2:00 p.m. (New York time). In the absence of timely receipt, such funds shall
be deemed to have been paid on the next Business Day. Whenever any payment to be
made hereunder shall be stated to be due on a day that is not a Business Day,
the payment may be made on the next succeeding Business Day and such extension
of time shall be included in the computation of the amount of interest and Fees
due hereunder.

          US Borrowers hereby authorize Lenders to make US Revolving Credit
Advances (provided that solely with respect to expenses expressly covered by
SECTION 1.3(e), no US Revolving Credit Advances will be made with respect to
such expenses until such expenses are payable in accordance with SECTION
1.3(e)), on the basis of their Pro Rata Shares, for the payment of interest,
Fees and expenses, in each case pertaining to US Loans, US Letter of Credit
reimbursement obligations and any amounts required to be deposited with respect
to outstanding US Letter of Credit Obligations pursuant to SECTION 1.5(f) or
6.3; provided that no such US Revolving Credit Advance shall be made until after
noon New York time on the day that such interest, Fee and/or expense first
became payable. European Borrower hereby authorizes Lenders to make European
Revolving Credit Advances (provided that solely with respect to expenses
expressly covered by SECTION 1.3(e), no European Revolving Credit Advances will
be made with respect to such expenses until such expenses are payable in
accordance with SECTION 1.3(e)), on the basis of their Pro Rata Shares, for the
payment of Scheduled Installments, interest, Fees and expenses, in each case
pertaining to European Loans, European Letter of Credit reimbursement
obligations and any amounts required to be deposited with respect to outstanding
European Letter of Credit Obligations pursuant to SECTION 1.5(f) or 6.3;
provided that no such European Revolving Credit Advance shall be made until
after noon New York time on the day that such Scheduled Installment, interest,
Fee and/or expense first became payable.

          If Agent receives any payment from or on behalf of any Credit Party in
a currency other than the currency in which an Obligation payment is
denominated, Agent may convert the payment (including the monetary proceeds of
realization upon any Collateral and any funds then held in a cash collateral
account) into the currency of the relevant Obligation at the Exchange Rate in
the manner contemplated by SECTION 9.1(b). The obligation shall be satisfied
only to the extent of the amount actually received by Agent upon such
conversion.

          Section 1.5   PREPAYMENTS.

          (a)     VOLUNTARY PREPAYMENTS OF LOANS. At any time, (i) US Borrowers
may prepay the US Loans, in whole or in part, without premium or penalty subject
to the payment of LIBOR Breakage Fees, if applicable and (ii) European Borrower
may prepay the European Loans, in whole or in part, without premium or penalty
subject to the payment of LIBOR Breakage Fees, if applicable. Prepayments of
European Term Loan shall be applied in accordance with SECTION 1.5(e)(i), or as
otherwise may be agreed by Requisite Lenders.

                                     Annex A
                                     Page 24
<Page>

          (b)     PREPAYMENTS RE CURRENCY FLUCTUATIONS. If at any time when the
Public Note Indenture is in effect the Dollar Equivalent of the outstanding
amount of the Loans exceeds US$60,000,000, the Loans must be repaid within two
(2) Business Days in an amount sufficient to eliminate any such excess; provided
that such prepayment shall not be required if prior to the end of such two (2)
Business Day period, and on each Funding Date thereafter that the Dollar
Equivalent of the outstanding amount of the Loans exceeds US$60,000,000 after
giving effect to such requested funding, the Borrower Representative has
demonstrated to the satisfaction of Agent (including without limitation by
delivering officer certificates and calculations that the Agent may reasonably
request in connection therewith) that all of such Loans and all of the Liens of
Agent and the Lenders securing such Loans are permitted pursuant to the Public
Note Indenture. In the event of any repayment required under this clause (b),
the Borrowers may elect which Loans are so repaid.

          (c)     PREPAYMENTS FROM ASSET DISPOSITIONS.

          (i)     US BORROWERS. Immediately upon receipt by either US
     Borrower or any of its Subsidiaries from any Asset Disposition of
     any Net Proceeds in excess of (x) the Dollar Equivalent of
     US$1,250,000 for any single transaction or series of related
     transactions during any Fiscal Year or (y) the Dollar Equivalent
     of US$3,000,000 in the aggregate during the term of this
     Agreement, US Borrowers shall repay the US Revolving Credit
     Advances (without reduction of the US Revolving Loan Commitment)
     by an amount equal to the amount of such Net Proceeds. US
     Borrowers or their Subsidiaries may reinvest (or commit to
     reinvest) all Net Proceeds of such Asset Disposition, within two
     hundred and seventy days (270) days after such Asset Disposition
     (or within one hundred and eighty days (180) days prior to such
     Asset Disposition), in productive replacement fixed assets of a
     kind then used or usable in the business of US Borrowers
     (provided that if such fixed assets are purchased within the one
     hundred and eighty day (180) period prior to such Asset
     Disposition, Borrower Representative shall notify Agent prior to
     such purchase that such purchase is being made with the
     anticipated Net Proceeds of such anticipated Asset Disposition).
     If US Borrowers do not intend to so reinvest (or commit to so
     reinvest) such Net Proceeds or if the period set forth in the
     immediately preceding sentence expires without US Borrowers
     having reinvested (or committing to reinvest) such Net Proceeds
     or if such Net Proceeds are attributable to a working capital,
     earnings, balance sheet or similar adjustment under the
     Acquisition Agreement, European Borrower shall prepay the
     European Term Loan in an aggregate amount equal to such Net
     Proceeds of such Asset Disposition. The payments shall be applied
     in accordance with SECTION 1.5(e)(i), or as otherwise may be
     agreed by Requisite Lenders.

          (ii)    EUROPEAN BORROWER. Immediately upon receipt by European
     Borrower or any of its Subsidiaries from any Asset Disposition of
     any Net Proceeds in excess of (x) the Dollar Equivalent of
     US$625,000 for any single transaction or series of related
     transactions during any Fiscal Year or (y) the

                                     Annex A
                                     Page 25
<Page>

     Dollar Equivalent of US$1,500,000 in the aggregate during the
     term of this Agreement, European Borrower shall repay the
     European Revolving Credit Advances (without reduction of the
     European Revolving Loan Commitment) by an amount equal to the
     amount of such Net Proceeds. European Borrower or its
     Subsidiaries may reinvest (or commit to reinvest) all Net
     Proceeds of such Asset Disposition, within two hundred and
     seventy days (270) days after such Asset Disposition (or within
     one hundred and eighty days (180) days prior to such Asset
     Disposition), in productive replacement fixed assets of a kind
     then used or usable in the business of European Borrower
     (provided that if such fixed assets are purchased within the one
     hundred and eighty day (180) period prior to such Asset
     Disposition, Borrower Representative shall notify Agent prior to
     such purchase that such purchase is being made with the
     anticipated Net Proceeds of such anticipated Asset Disposition).
     If European Borrower does not intend to so reinvest (or commit to
     so reinvest) such Net Proceeds or if the period set forth in the
     immediately preceding sentence expires without European Borrower
     having reinvested (or committing to reinvest) such Net Proceeds
     or if such Net Proceeds are attributable to a working capital,
     earnings, balance sheet or similar adjustment under the
     Acquisition Agreement, European Borrower shall repay the European
     Term Loan in an aggregate amount equal to such Net Proceeds of
     such Asset Disposition. The payment shall be applied in
     accordance with SECTION 1.5(e)(i), or as otherwise may be agreed
     by Requisite Lenders.

          (d)     PREPAYMENTS FROM ISSUANCE OF SECURITIES/SUBORDINATED ULTIMATE
HOLDINGS PIK DEBT. Immediately upon the receipt by any Credit Party of the
proceeds of the issuance of Stock or Subordinated Ultimate Holdings PIK Debt
(other than (1) proceeds of the issuance of Stock by Ultimate Holdings received
on or before the Closing Date, (2) proceeds from the issuance of Stock (or
options therefor) to employees, consultants, agents, officers and directors of
Ultimate Holdings or any Borrower, (3) in connection with the consummation of a
Permitted Acquisition, proceeds from the issuance of equity securities or
Subordinated Ultimate Holdings PIK Debt used on or around the date of such
issuance to purchase the Target of such Permitted Acquisition, (4) proceeds of
the issuance of Stock to any Borrower or any Subsidiary of any Borrower and (5)
proceeds of the issuance of equity securities, to the extent not prohibited by
this Agreement and the other Loan Documents, of a Credit Party (A) to CHP or
other investors other than pursuant to a public offering of equity securities or
(B) after the Term Loans have been repaid in full (provided that such
requirement that the Terms Loans must have been so repaid in full may be waived
by Agent), pursuant to a public offering of equity securities to the extent
proceeds are not used within ninety (90) days of such public offering to prepay
or redeem the Public Note Debt in accordance with SECTION 3.5(c)), Borrowers
shall prepay the Loans in an amount equal to seventy percent (70%) of such
proceeds, net of underwriting discounts and commissions and other reasonable
costs associated therewith. The payment shall be applied in accordance with
SECTION 1.5(e)(i), or as otherwise may be agreed by Requisite Lenders.

                                     Annex A
                                     Page 26
<Page>

          (e)     APPLICATION OF PROCEEDS.

          (i)     With respect to any prepayments made by any Borrower
     pursuant to SECTIONS 1.5(a) (pertaining to the European Term
     Loan), 1.5(c) and 1.5(d), such prepayments shall be applied as
     follows: (A) first, in payment of the European Term Loan pro rata
     against all remaining Scheduled Installments thereof until the
     European Term Loan shall have been prepaid in full; (B) second,
     to the US Revolving Credit Advances outstanding until the same
     have been repaid in full but not as a permanent reduction of the
     US Revolving Loan Commitment; (C) third, to the European
     Revolving Credit Advances outstanding until the same have been
     repaid in full but not as a permanent reduction of the European
     Revolving Loan Commitment; and (D) fourth, to all other
     Obligations. Considering each type of Loan being prepaid
     separately, any such prepayment shall be applied first to Index
     Rate Loans of the type required to be prepaid before application
     to LIBOR Loans of the type required to be prepaid, in each case
     in a manner which minimizes any resulting LIBOR Breakage Fee.
     Additionally, so long as no Event of Default is then in
     existence, to the extent that any such prepayment would otherwise
     be applied to a LIBOR Loan in a manner that would result in the
     incurrence of a LIBOR Breakage Fee, then Borrower Representative
     may direct that the proceeds of such prepayment be held by Agent
     in a cash collateral account, acceptable to Agent and in favor of
     Agent, to be applied to such LIBOR Loan on the last day of the
     applicable LIBOR Period.

          (ii)    INTENTIONALLY RESERVED.

          (f)     LETTER OF CREDIT OBLIGATIONS.

          (i)     US LETTERS OF CREDIT. In the event any US Letters of
     Credit are outstanding at the time that the US Revolving Loan
     Commitment is terminated, US Borrowers shall (1) deposit with
     Agent for the benefit of all US Revolving Lenders cash in an
     amount equal to 105% of the aggregate outstanding US Letter of
     Credit Obligations to be available to Agent to reimburse payments
     of drafts drawn under such US Letters of Credit and pay any Fees
     and expenses related thereto and (2) prepay the fee payable under
     SECTION 1.3(c)(i) with respect to such US Letters of Credit for
     the full remaining terms of such Letters of Credit. Upon
     termination of any such US Letter of Credit, subject to SECTION
     6.3, the unearned portion of such prepaid fee attributable to
     such US Letter of Credit, along with any cash remaining in such
     deposit after satisfaction of all such US Letter of Credit
     Obligations (including without limitation any Fees and expenses
     related thereto), shall be refunded to US Borrowers.

          (ii)    EUROPEAN LETTERS OF CREDIT. In the event any European
     Letters of Credit are outstanding at the time that the European
     Revolving Loan Commitment is terminated, European Borrower shall
     (1) deposit with Agent

                                     Annex A
                                     Page 27
<Page>

     for the benefit of all European Revolving Lenders cash in an
     amount equal to 105% of the aggregate outstanding European Letter
     of Credit Obligations to be available to Agent to reimburse
     payments of drafts drawn under such European Letters of Credit
     and pay any Fees and expenses related thereto and (2) prepay the
     fee payable under SECTION 1.3(c)(ii) with respect to such
     European Letters of Credit for the full remaining terms of such
     Letters of Credit. Upon termination of any such European Letter
     of Credit, subject to SECTION 6.3, the unearned portion of such
     prepaid fee attributable to such European Letter of Credit, along
     with any cash remaining in such deposit after satisfaction of all
     such European Letter of Credit Obligations (including without
     limitation any Fees and expenses related thereto), shall be
     refunded to European Borrower.

          Section 1.6   MATURITY.

          All of the Obligations shall become due and payable as otherwise set
forth herein, but in any event all of the remaining Obligations shall become due
and payable upon termination of this Agreement. Until all Obligations have been
fully paid and satisfied (other than contingent indemnification obligations to
the extent no unsatisfied claim has been asserted), the US Revolving Loan
Commitment has been terminated, the European Revolving Loan Commitment has been
terminated and all Letters of Credit have been terminated or otherwise secured
to the satisfaction of Agent, Agent shall be entitled to retain the security
interests in the Collateral granted under the Collateral Documents and the
ability to exercise all rights and remedies available to them under the Loan
Documents and applicable laws. Notwithstanding anything contained in this
Agreement to the contrary, upon any termination (i) of the US Revolving Loan
Commitment, all of the Obligations shall be due and payable and (ii) of the
European Revolving Loan Commitment, all of the Obligations pertaining to the
European Loans shall be due and payable.

          Section 1.7   LOAN ACCOUNT.

          Agent shall maintain a loan account (the "LOAN ACCOUNT") on its books
to record: all Advances and the Term Loan, all payments made by Borrowers, and
all other debits and credits as provided in this Agreement with respect to the
Loans or any other Obligations. All entries in the Loan Account shall be made in
accordance with Agent's customary accounting practices as in effect from time to
time. The balance in the Loan Account, as recorded on Agent's most recent
printout or other written statement, shall, absent manifest error, be
presumptive evidence of the amounts due and owing to Agent and Lenders by
Borrowers; PROVIDED that any failure to so record or any error in so recording
shall not limit or otherwise affect any Borrower's duty to pay the Obligations.
Within five (5) days of the first of each month, Agent shall render to Borrower
Representative a monthly accounting of transactions with respect to the Loans
setting forth the balance of the Loan Account as to each Borrower for the
immediately preceding month. Unless Borrower Representative notifies Agent in
writing of any objection to any such accounting (specifically describing the
basis for such objection), within sixty (60) days after the date thereof, each
and every such accounting shall, absent manifest error, be deemed final, binding
and conclusive on

                                     Annex A
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<Page>

Borrowers in all respects as to all matters reflected therein. Only those items
expressly objected to in such notice shall be deemed to be disputed by
Borrowers. Notwithstanding any provision herein contained to the contrary, any
Lender may elect (which election may be revoked) to dispense with the issuance
of Notes to that Lender and may rely on the Loan Account as evidence of the
amount of Obligations from time to time owing to it.

          Section 1.8   YIELD PROTECTION; ILLEGALITY.

          (a)     CAPITAL ADEQUACY AND OTHER ADJUSTMENTS. In the event that any
Lender shall have determined that the adoption after the date hereof of any law,
treaty, governmental (or quasi-governmental) rule, regulation, guideline or
order regarding capital adequacy, reserve requirements or similar requirements
or compliance by any Lender or any corporation controlling such Lender with any
request or directive regarding capital adequacy, reserve requirements or similar
requirements (whether or not having the force of law and whether or not failure
to comply therewith would be unlawful) from any central bank or governmental
agency or body having jurisdiction does or shall have the effect of increasing
the amount of capital, reserves or other funds required to be maintained by such
Lender or any corporation controlling such Lender and thereby reducing the rate
of return on such Lender's or such corporation's capital as a consequence of its
obligations hereunder, then Borrowers shall from time to time within thirty (30)
days after notice and demand from such Lender (together with the certificate
referred to in the next sentence and with a copy to Agent) pay to Agent, for the
account of such Lender, additional amounts sufficient to compensate such Lender
for such reduction. A certificate as to the amount of such cost and showing the
basis of the computation of such cost (in reasonable detail) submitted by such
Lender to Borrower Representative and Agent shall, absent manifest error, be
final, conclusive and binding for all purposes. If a Lender becomes entitled to
claim any additional amounts pursuant to this SECTION 1.8(a), it shall promptly
notify the Borrowers thereof. Each Lender shall allocate such cost increases
among its customers reasonably and in good faith and on an equitable basis.
Notwithstanding anything to the contrary contained herein, (i) the Borrowers
will not be required to compensate any Lender for any such amounts incurred by
such Lender more than one hundred eighty (180) days prior to such Lender's
written request to the Borrowers for such compensation, and (ii) a Lender shall
not be entitled to any compensation described in this SECTION 1.8(a) unless, at
the time it requests such compensation, it is the policy or general practice of
such Lender to request compensation for comparable costs in similar
circumstances under other comparable loan agreements.

          (b)     INCREASED LIBOR FUNDING COSTS; ILLEGALITY. Notwithstanding
anything to the contrary contained herein, if the introduction of or any change
in any law, rule, regulation, treaty or directive (or any change in the
interpretation thereof) after the date hereof shall make it unlawful, or any
central bank or other Governmental Authority shall assert after the date hereof
that it is unlawful, for any Lender to agree to make or to make or to continue
to fund or maintain any LIBOR Loan, then, unless that Lender is able to make or
to continue to fund or to maintain such LIBOR Loan at another branch or office
of that Lender without, in that Lender's opinion, adversely affecting it or its
Loans or the income obtained therefrom, on notice thereof and demand therefor by
such Lender to Borrower Representative through Agent, (i) the obligation of such
Lender to agree to make or to

                                     Annex A
                                     Page 29
<Page>

continue to fund or maintain LIBOR Loans shall terminate and (ii) each Borrower
shall forthwith prepay in full at the end of the then current LIBOR Period (or
earlier if required by law; provided that Borrowers shall not be required to pay
the LIBOR Breakage Fee associated with such earlier payment) all outstanding
LIBOR Loans owing by such Borrower to such Lender, together with interest
accrued thereon, UNLESS Borrower Representative on behalf of such Borrower,
within five (5) Business Days after the delivery of such notice and demand,
converts all such LIBOR Loans into Index Rate Loans. If, after the date hereof,
the introduction of, change in or interpretation of any law, rule, regulation,
treaty or directive would impose or increase reserve requirements (other than as
taken into account in the definition of LIBOR) or otherwise increase the cost to
any Lender of making or maintaining a LIBOR Loan, then Borrowers shall from time
to time within thirty (30) days after notice and demand from Agent to Borrower
Representative (together with the certificate referred to in the next sentence)
pay to Agent, for the account of all such affected Lenders, additional amounts
sufficient to compensate such Lenders for such increased cost. A certificate as
to the amount of such cost (in reasonable detail) and showing the basis of the
computation of such cost submitted by Agent on behalf of all such affected
Lenders to Borrower Representative shall, absent manifest error, be final,
conclusive and binding for all purposes. If a Lender becomes entitled to claim
any additional amounts pursuant to this SECTION 1.8(b) or it anticipates that
any change in law, rule or regulation will result in a claim by it under this
SECTION 1.8(b), it shall promptly notify Borrower Representative thereof. Each
Lender shall allocate such cost increases among its customers reasonably and in
good faith and on an equitable basis. Notwithstanding anything to the contrary
contained herein, (i) Borrowers will not be required to compensate any Lender
for any such increased costs incurred by such Lender more than one hundred
eighty (180) days prior to such Lender's written request to Borrowers for such
compensation, and (ii) a Lender shall not be entitled to any compensation
described in this SECTION 1.8(b) unless, at the time it requests such
compensation, it is the policy or general practice of such Lender to request
compensation for comparable costs in similar circumstances under other
comparable loan agreements.

          Section 1.9   TAXES.

          (a)     NO DEDUCTIONS. Any and all payments or reimbursements made
hereunder (including any payments made pursuant to SECTION 10) or under the
Notes or under any other Loan Document shall be made free and clear of and
without deduction for any and all taxes, levies, imposts, deductions or
withholdings, and all liabilities with respect thereto of any nature whatsoever
imposed by any taxing authority, excluding such taxes, levies, imposts,
deductions, withholdings or liabilities to the extent imposed on or measured by
Agent's or a Lender's net income (all such non-excluded taxes, levies, imposes,
deductions, withholdings or liabilities, "Taxes"). If any Borrower or any other
Credit Party shall be required by law to deduct any such amounts from or in
respect of any sum payable hereunder or any other Loan Document to any Lender or
Agent, then (subject to clauses (b) and (c) below) the sum payable hereunder or
such other Loan Document shall be increased as may be necessary so that, after
making all required deductions, such Lender or Agent receives an amount equal to
the sum it would have received had no such deductions been made.

                                     Annex A
                                     Page 30
<Page>

          (b)     CHANGES IN TAX LAWS. With respect to the Agent or any Lender,
in the event that, subsequent to the Closing Date (or, in the case of a Lender
that became a Lender after the Closing Date, subsequent to the date such Lender
became a Lender hereunder), (1) any changes in any existing law, regulation,
treaty or directive or in the interpretation or application thereof, (2) any new
law, regulation, treaty or directive enacted or any interpretation or
application thereof, or (3) compliance by Agent or any Lender with any request
or directive (whether or not having the force of law) issued after the Closing
Date by any Governmental Authority:

          (i)     does or shall subject Agent or any Lender to any Taxes
     of any kind whatsoever with respect to this Agreement, the other
     Loan Documents or any Loans made or Letters of Credit issued
     hereunder, or changes the basis of taxation of payments to Agent
     or such Lender of principal, fees, interest or any other amount
     payable hereunder (except for net income taxes, or franchise
     taxes imposed in lieu of net income taxes, imposed generally by
     federal, state, local, foreign or other applicable governmental
     taxing authorities with respect to interest or commitment Fees or
     other Fees payable hereunder, changes in the rate of tax on the
     net income of Agent or such Lender, or changes in respect of any
     so-called branch profits tax); or

          (ii)    does or shall impose on Agent or any Lender any other
     condition or increased cost in connection with the transactions
     contemplated hereby or participations herein;

and the result of any of the foregoing is to increase the cost to Agent or such
Lender of issuing any Letter of Credit or making or continuing any Loan
hereunder, as the case may be, or to reduce any amount receivable hereunder,
then, in any such case, Borrowers shall promptly pay to Agent or such Lender,
upon its demand, any additional amounts necessary to compensate Agent or such
Lender, on an after-tax basis, for such additional cost or reduced amount
receivable, as determined by Agent or such Lender with respect to this Agreement
or the other Loan Documents. If Agent or such Lender becomes entitled to claim
any additional amounts pursuant to this SECTION 1.9(b), it shall promptly notify
Borrower Representative of the event by reason of which Agent or such Lender has
become so entitled. A certificate as to any additional amounts payable pursuant
to the foregoing sentence demonstrating the calculation of such additional
amounts (in reasonable detail) submitted by Agent or such Lender to Borrower
Representative (with a copy to Agent) shall, absent manifest error, be final,
conclusive and binding for all purposes. Notwithstanding the foregoing
provisions, the Borrowers will not be required to compensate any Lender for any
such amounts incurred by such Lender more than one hundred eighty (180) days
prior to such Lender's written request to the Borrowers for such compensation.

          (c)     FOREIGN LENDERS. On or before the Closing Date (or, in the
case of any Lender that becomes a Lender after the Closing Date, on or before
the date such Lender becomes a Lender hereunder), each Lender organized under
the laws of a jurisdiction outside the United States (a "FOREIGN LENDER") shall
provide to Borrower Representative and Agent a properly completed and executed
IRS Form W-8BEN or Form W-8ECI or other applicable

                                     Annex A
                                     Page 31
<Page>

form, certificate or document prescribed by the IRS certifying as to such
Foreign Lender's entitlement to exemption from U.S. withholding tax with respect
to payments to be made to such Foreign Lender under this Agreement and under the
Notes (a "CERTIFICATE OF EXEMPTION"). In addition, each Foreign Lender shall
deliver to Borrower Representative and Agent a Certificate of Exemption within
15 days after written request therefor by Borrower Representative or Agent and
upon the expiration or obsolescence of any Certificate of Exemption previously
delivered pursuant to this SECTION 1.9(c). If a Foreign Lender does not provide
a Certificate of Exemption to Borrower Representative and Agent in accordance
with this SECTION 1.9(c), Borrowers shall withhold taxes from payments to such
Foreign Lender at the applicable statutory rates and Borrowers shall not be
required to pay any additional amounts as a result of such withholding, unless
such Foreign Lender is unable to provide a Certificate of Exemption as a result
of a change in or amendment to law, regulation or treaty enacted or promulgated
after the Closing Date (or, in the case of a Foreign Lender that becomes a
Lender after the Closing Date, after the date such Foreign Lender became a
Lender hereunder), PROVIDED that all such withholding shall cease upon delivery
by such Foreign Lender of a Certificate of Exemption to Borrower Representative
and Agent.

          Section 1.10  BORROWER REPRESENTATIVE.

          Each Borrower hereby designates Holdings as its representative and
agent on its behalf for the purposes of issuing Notice of US Revolving Credit
Advances, Notice of European Revolving Credit Advances and Notice of
Conversion/Continuation, giving instructions with respect to the disbursement of
the proceeds of the Loans, selecting interest rate options, requesting Letters
of Credit, giving and receiving all other notices and consents hereunder or
under any of the other Loan Documents and taking all other actions (including in
respect of compliance with covenants) on behalf of any Borrower or Borrowers
under the Loan Documents. Borrower Representative hereby accepts such
appointment and agrees to give Borrowers prompt notice of all such actions taken
by Borrower Representative and all such notices received by Borrower
Representative; provided that the failure of Borrower Representative to give any
such notice to any Borrower shall not limit any of the obligations of any
Borrower pertaining to this Agreement or any other Loan Document. Agent and each
Lender may regard any notice or other communication pursuant to any Loan
Document from Borrower Representative as a notice or communication from all
Borrowers. Each warranty, covenant, agreement and undertaking made on its behalf
by Borrower Representative shall be deemed for all purposes to have been made by
such Borrower and shall be binding upon and enforceable against such Borrower to
the same extent as if the same had been made directly by such Borrower.

          Section 1.11  EUROPEAN LENDER QUALIFICATION.

          Each European Lender which is a party to this Agreement on the date
hereof represents and warrants to the European Borrower on the date hereof and
(for so long as it remains a European Lender under this Agreement) on the date
of which each European Loan is made and each European Letter of Credit is issued
and each Person who becomes a European Lender after the date of this Agreement
(and each Person to whom any European Lender assigns any of its rights under
this Agreement with respect to the European Loans)

                                     Annex A
                                     Page 32
<Page>

represents and warrants to the European Borrower on the date on which it becomes
a party to this Agreement as a European Lender and thereafter (for so long as it
remains a European Lender under this Agreement) on the date on which each
European Loan is made and each European Letter of Credit is issued, that it is a
"professional market party" (a "PMP") within the meaning of the Exemption
Regulation dated 26 June 2002 of the Ministry of Finance of The Netherlands (the
"EXEMPTION REGULATION"), as promulgated in connection with the Dutch Act on the
Supervision of Credit Institutions 1992 (WET TOEZICHT KREDIETWEZEN 1992).

                                    SECTION 2
                              AFFIRMATIVE COVENANTS

          Each Credit Party executing this Agreement jointly and severally
agrees as to all Credit Parties that from and after the date hereof and until
the Termination Date:

          Section 2.1   COMPLIANCE WITH LAWS AND CONTRACTUAL OBLIGATIONS.

          Each Credit Party will (a) comply with and shall cause each of its
Subsidiaries to comply with (i) the requirements of all applicable laws, rules,
regulations and orders of any Governmental Authority (including, without
limitation, laws, rules, regulations and orders relating to taxes, employer and
employee contributions, securities, employee retirement and welfare benefits,
environmental protection matters and employee health and safety and including,
without limitation, the requirements that the European Borrower makes due
inquiry to confirm that each Lender is a PMP as required by the Exemption
Regulation and the Dutch Central Bank's Policy Guidelines (issued in relation to
the Exemption Regulation) dated 10 July 2002 (BELEIDSREGEL KERNBEGRIPPEN
MARKTTOETREDING EN HANDHAVING WTK 1992)) as now in effect and which may be
imposed in the future in all jurisdictions in which any Credit Party or any of
its Subsidiaries is now doing business or may hereafter be doing business and
(ii) the obligations, covenants and conditions contained in all Contractual
Obligations (including, without limitation, the Public Note Indenture) of such
Credit Party or any of its Subsidiaries other than those laws, rules,
regulations, orders and provisions of such Contractual Obligations the
noncompliance with which could not be reasonably expected to have, either
individually or in the aggregate, a Material Adverse Effect, and (b) maintain or
obtain and shall cause each of its Subsidiaries to maintain or obtain all
licenses, qualifications and permits now held or hereafter required to be held
by such Credit Party or any of its Subsidiaries, for which the loss, suspension,
revocation or failure to obtain or renew, could reasonably be expected to have,
either individually or in the aggregate, a Material Adverse Effect. Subject to
SECTION 3.2, this SECTION 2.1 shall not preclude any Credit Party or its
Subsidiaries from contesting any taxes or other payments, if they are being
diligently contested in good faith in a manner which stays enforcement thereof
and if appropriate expense provisions have been recorded in conformity with
GAAP. Each Credit Party represents and warrants that it (i) is in compliance and
each of its Subsidiaries is in compliance with the requirements of all
applicable laws, rules, regulations and orders of any Governmental Authority and
the obligations, covenants and conditions contained in all Contractual
Obligations other than those laws, rules, regulations, orders and provisions of
such Contractual Obligations (including, without limitation, the Public Note
Indenture) the noncompliance with which could not be reasonably expected to
have, either individually or

                                     Annex A
                                     Page 33
<Page>

in the aggregate, a Material Adverse Effect, and (ii) maintains and each of its
Subsidiaries maintains all licenses, qualifications and permits referred to
above, for which the loss, suspension, revocation or failure to obtain or renew,
could reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect.

          Section 2.2   MAINTENANCE OF PROPERTIES; INSURANCE.

          Each Credit Party will maintain or cause to be maintained in good
repair, working order and condition (ordinary wear and tear and casualty events
excepted) all material properties used in the business of such Credit Party and
its Subsidiaries and will make or cause to be made all repairs, renewals and
replacements thereof as in the reasonable judgment of the Borrowers are
necessary to carry on their business. Each Credit Party will maintain or cause
to be maintained, with financially sound and reputable insurers, public
liability and property damage insurance with respect to its business and
properties and the business and properties of its Subsidiaries against loss or
damage of the kinds customarily carried or maintained by corporations of
established reputation engaged in similar businesses in similar geographic areas
and in amounts in each case reasonably acceptable to Agent and will deliver
evidence thereof to Agent. The Credit Parties will maintain business
interruption insurance covering all of the Credit Parties and providing coverage
for a period of at least six (6) months and in an amount not less than the
Dollar Equivalent of US$29,000,000. Each Credit Party shall cause Agent,
pursuant to endorsements and/or assignments in form and substance reasonably
satisfactory to Agent, to be named as lender's loss payee in the case of
casualty insurance, additional insured in the case of all liability insurance
and assignee in the case of all business interruption insurance, and with
respect to insurance pertaining to any Collateral located in Canada, containing
the standard mortgage clause approved by the Insurance Bureau of Canada, in each
case for the benefit of Agent and Lenders. Each Credit Party represents and
warrants that it and each of its Subsidiaries currently maintains all material
properties as set forth above and maintains all insurance described above. In
the event any Credit Party fails to provide Agent with evidence of the insurance
coverage required by this Agreement within ten (10) days after Agent requests in
writing such evidence, Agent may purchase insurance at such Credit Party's
expense to protect Agent's interests in the Collateral. This insurance may, but
need not, protect such Credit Party's interests. The coverage purchased by Agent
may, or may not, pay any claim made by such Credit Party or any claim that is
made against such Credit Party in connection with the Collateral. Such Credit
Party may later cancel any insurance purchased by Agent, but only after
providing Agent with evidence that such Credit Party has obtained insurance as
required by this Agreement. If Agent purchases insurance for the Collateral,
such Credit Party will be responsible for the costs of that insurance, including
interest and other Charges imposed by Agent in connection with the placement of
the insurance, until the effective date of the cancellation or expiration of the
insurance. The costs of the insurance may be added to the Obligations. The costs
of the insurance may be more than the cost of insurance such Credit Party is
able to obtain on its own.

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<Page>

          Section 2.3   INSPECTION; LENDER MEETING.

          Each Credit Party shall permit any authorized representatives of Agent
to visit, audit and inspect any of the properties of such Credit Party and its
Subsidiaries, including its and their financial and accounting records, and to
make copies and take extracts therefrom, other than materials that are protected
by attorney-client privilege and materials Borrowers may not disclose to Agent
or any Lender under confidentiality agreements, and to discuss its and their
affairs, finances and business with its and their officers and certified public
accountants (or equivalents of certified public accountants), at such reasonable
times during normal business hours and as often as may be reasonably requested,
upon reasonable prior notice and so long as such visit and inspection does not
materially interfere with the business and the operations of the Borrowers and
their Subsidiaries taken as a whole; provided that prior to the occurrence and
continuance of an Event of Default, Borrowers shall not be required to permit
more than three (3) such visits and inspections during any year. Upon at least
twenty-four (24) hours prior notice to Borrowers, representatives of each Lender
will be permitted to accompany representatives of Agent during each visit,
inspection and discussion referred to in the immediately preceding sentence.
Without in any way limiting the foregoing, each Credit Party will participate
and will cause key management personnel of each Credit Party and its
Subsidiaries to participate in a meeting with Agent and Lenders at least once
during each year, which meeting shall be held at such time and such place as may
be reasonably requested by Agent.

          Section 2.4   ORGANIZATIONAL EXISTENCE.

          Except as otherwise permitted by SECTION 3.6, each Credit Party will
and will cause its Subsidiaries to at all times preserve and keep in full force
and effect its organizational existence and all rights and franchises material
to its business.

          Section 2.5   ENVIRONMENTAL MATTERS.

          Each Credit Party shall and shall cause each Person within its control
to: (a) conduct its operations and keep and maintain its Real Estate in
compliance with all Environmental Laws and Environmental Permits other than
noncompliance that could not reasonably be expected to have a Material Adverse
Effect; (b) implement any and all investigation, remediation, removal and
response actions that are appropriate or necessary to maintain the value and
marketability of the Real Estate or to otherwise comply with Environmental Laws
and Environmental Permits pertaining to the presence, generation, treatment,
storage, use, disposal, transportation or Release of any Hazardous Material on,
at, in, under, above, to or from any of its Real Estate; (c) notify Agent
promptly after such Credit Party or any Person within its control becomes aware
of any violation of Environmental Laws or Environmental Permits or any Release
on, at, in, under, above, to or from any Real Estate that is reasonably likely
to result in Environmental Liabilities to a Credit Party or its Subsidiaries in
excess of the Dollar Equivalent of US$500,000 and (d) promptly forward to Agent
a copy of any written order, notice, request for information or any
communication or report received by such Credit Party or any Person within its
control in connection with any such violation or Release or any other matter
relating to any

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Environmental Laws or Environmental Permits that could reasonably be expected to
result in Environmental Liabilities in excess of the Dollar Equivalent of
US$500,000, in each case whether or not the Environmental Protection Agency or
any Governmental Authority has taken or threatened any action in connection with
any such violation, Release or other matter. During the existence of an Event of
Default, if Agent at any time has a reasonable basis to believe that there may
be a violation of any Environmental Laws or Environmental Permits by any Credit
Party or any Person under its control or any Environmental Liability arising
thereunder, or a Release of Hazardous Materials on, at, in, under, above, to or
from any of its Real Estate, that, in each case, could reasonably be expected to
have a Material Adverse Effect, then each Credit Party and its Subsidiaries
shall, upon Agent's written request (i) cause the performance of such
environmental audits including subsurface sampling of soil and groundwater, and
preparation of such environmental reports, at Borrowers' expense, as Agent may
from time to time reasonably request, which shall be conducted by reputable
environmental consulting firms reasonably acceptable to Agent and shall be in
form and substance reasonably acceptable to Agent, and (ii) permit Agent or its
representatives to have access to all Real Estate for the purpose of conducting
such environmental audits and testing as Agent deems appropriate, including
subsurface sampling of soil and groundwater. Borrowers shall reimburse Agent for
the reasonable costs of such audits and tests and the same will constitute a
part of the Obligations secured hereunder.

          Section 2.6   LANDLORDS' AGREEMENTS, MORTGAGEE AGREEMENTS AND BAILEE
LETTERS.

          Each Credit Party shall use reasonable efforts to obtain a landlord's
agreement, mortgagee agreement or bailee letter, as applicable, from the lessor
of each leased property, mortgagee of owned property or bailee with respect to
any warehouse, processor or converter facility or other location where
Collateral is stored or located, which agreement or letter shall contain a
waiver or subordination of all Liens or claims that the landlord, mortgagee or
bailee may assert against the Collateral at that location, and shall otherwise
be reasonably satisfactory in form and substance to Agent (provided that with
respect to any location outside of the United States of America, the foregoing
shall only be required to the extent requested by Agent). With respect to such
locations or warehouse space leased or owned as of the Closing Date and
thereafter, if Agent has not received a landlord or mortgagee agreement or
bailee letter as of the Closing Date (or, if later, as of the date such location
is acquired or leased), (i) the Eligible Inventory at that location shall, in
Agent's discretion, be subject to such Reserves imposed by Agent and (ii)
Borrower Representative shall be required to give Agent prompt notice of any
default by any Credit Party under the lease, warehouse agreement, processor or
converter agreement or any other agreement pertaining to such location. After
the Closing Date, no real property or warehouse space shall be leased by any
Credit Party or its Subsidiary and no Inventory shall be shipped to a processor
or converter under arrangements established after the Closing Date without the
prior written consent of Agent (which consent, in Agent's discretion, may be
conditioned upon the exclusion from the US Borrowing Base or the European
Borrowing Base, as applicable, of Eligible Inventory at that location or the
establishment of Reserves imposed by Agent) unless (i) the aggregate fair market
and book value of assets of the Credit Parties at any time

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<Page>

maintained at (x) any one such leased location or with any one such processor or
converter does not exceed the Dollar Equivalent of US$100,000 or (y) all such
leased locations and with all such processors and converters does not exceed the
Dollar Equivalent of US$500,000 or (ii) a satisfactory landlord agreement or
bailee letter, as appropriate, shall first have been obtained with respect to
such location (provided that with respect to any location outside of the United
States of America, the foregoing shall only be required to the extent reasonably
requested by Agent). Each Credit Party shall and shall cause its Subsidiaries to
timely and fully pay and perform their obligations under all leases and other
agreements with respect to each leased location or public warehouse where any
Collateral is or may be located.

          Section 2.7   FURTHER ASSURANCES.

          (a)     Each Credit Party shall, from time to time, execute such
guaranties, financing statements, documents, security agreements and reports as
Agent or Requisite Lenders at any time may reasonably request to evidence,
perfect or otherwise implement a guaranty of the Obligations and/or a grant of a
perfected Lien (subject only to Permitted Encumbrances) on substantially all of
such Credit Party's real and personal property as security for the Obligations;
provided however that (i) the guaranties of the Non-US Credit Parties shall be
limited to the European Obligations and the security interests granted by the
Non-US Parties shall only secure the European Obligations and (ii) with respect
to Unrestricted Subsidiaries, the foregoing shall not be required to the extent
expressly provided in clause (ix) of the last paragraph of SECTION 3.6.

          (b)     In the event any Credit Party acquires an interest in real
property after the Closing Date, such Credit Party shall, to the extent
permitted by law with respect to Non-US Credit Parties, deliver to Agent a fully
executed mortgage or deed of trust over such real property in form and substance
reasonably satisfactory to Agent, together with such title insurance policies,
surveys, appraisals, evidence of insurance, legal opinions, environmental
assessments and other documents and certificates as shall be reasonably required
by Agent, provided, however that with respect to Unrestricted Subsidiaries, the
foregoing shall not be required to the extent expressly provided in clause (ix)
of the last paragraph of SECTION 3.6.

          (c)     Each Credit Party shall (i) cause each Person, upon its
becoming a Subsidiary of such Credit Party (provided that this shall not be
construed to constitute consent by any of the Lenders to any transaction not
expressly permitted by the terms of this Agreement), promptly to guaranty the
Obligations (provided that any guaranty by a Non-US Credit Party shall be
limited to the European Obligations and shall only be required to the extent
permitted by law) and to grant to Agent, for the benefit of Agent and Lenders, a
security interest in the real, personal and mixed property of such Person to
secure the Obligations (provided that any such grant by any Non-US Credit Party
shall only secure the European Obligations) and (ii) pledge, or cause to be
pledged, to Agent, for the benefit of Agent and Lenders, all of the Stock (other
than nominee shares and directors' qualifying shares required by law) of such
Subsidiary to secure the Obligations (provided that no such pledge of the Stock
of any Non-US Subsidiary shall cover more than 65% of the outstanding Stock of
such Non-US Subsidiary for the purposes of securing the US Loans and shall only

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secure the US Loans if the Stockholder of such Non-US Subsidiary is a US Credit
Party; 100% of the outstanding Stock of such Non-US Subsidiary however would
secure the European Obligations); provided, however that with respect to
Unrestricted Subsidiaries, the foregoing shall not be required to the extent
expressly provided in clause (ix) of the last paragraph of SECTION 3.6. The
documentation for such guaranty, security and pledge shall be in form and
substance reasonably satisfactory to Agent.

          (d)     Within thirty (30) days after the date of this Agreement (or,
upon the consent of Agent, within sixty (60) days after the date of this
Agreement), Borrowers shall (i) cause the Credit Parties formed in the Czech
Republic, Poland and Spain (collectively, the "POST-CLOSE EUROPEAN
SUBSIDIARIES") to execute all necessary documents and take all action necessary
(x) to guaranty the European Obligations, to the extent permitted by law, and
(y) to the extent reasonably requested by Agent, to grant to Agent, for the
benefit of Agent and Lenders, a security interest in the material real, personal
and mixed property of each Post-Close European Subsidiary to secure the European
Obligations and (ii) cause the Stockholders of each Post-Close European
Subsidiary to pledge to Agent, for the benefit of Agent and Lenders, all of the
Stock (other than nominee shares and directors' qualifying shares required by
law) of the Post-Close European Subsidiaries to secure the European Obligations.
The documentation for such guaranty, security and pledge shall be in form and
substance reasonably satisfactory to Agent. Additionally, without limiting the
foregoing, until such time that the Post-Close European Subsidiaries satisfy the
requirements set forth above in this SECTION 2.7(d) no loans, in excess of the
Dollar Equivalent of US$1,000,000 in the aggregate for the Post-Close European
Subsidiaries, otherwise permitted to be made by SECTION 3.1(b) to the Post-Close
European Subsidiary, will be permitted.

          Section 2.8   INTENTIONALLY RESERVED.

          Section 2.9   EUROPEAN MERGERS.

          Within forty (40) days after the Closing Date (except to the extent
that (i) a creditor of European Borrower, of Brink Trekhaken B.V. or of European
Second Tier Dutch Holdings, as applicable, files a petition with the applicable
court to oppose the merger proposals as set out in article 2:316 paragraph 2 of
the Dutch Civil Code and as a result of such filing the mergers are not
permitted by law; and if any such petition is filed, the Credit Parties will use
their best efforts to have such petition rescinded and have the mergers
completed as soon as possible thereafter, and (ii) the current right of pledge
on the shares in the share capital of European Borrower, vested by a deed of
pledge of shares executed on the thirtieth day of October nineteen hundred and
ninety-six, before a deputy of Hendrik van Wilsum, civil law notary in
Amsterdam, The Netherlands, has not been released; each Credit Party agrees to
use its best efforts to effectuate such release), Brink Trekhaken B.V. shall
merge into European Borrower and European Borrower shall merge into European
Second Tier Dutch Holdings, resulting in European Second Tier Dutch Holdings
being the ultimate surviving entity of these mergers. Each such merger shall be
consummated in a manner and pursuant to terms satisfactory to Agent, unless
contrary to Dutch law. After the merger of European Borrower and European Second
Tier Dutch Holdings, the "European Borrower" shall be European Second Tier Dutch
Holdings and all provisions (including but not limited

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<Page>

to any representations, covenants and obligations of Brink B.V. as European
Borrower) of this Agreement shall following such mergers be construed
accordingly. All of the Credit Parties consent to each such merger and agree
that such mergers will not limit any obligations of any Credit Party under any
Loan Document.

          Section 2.10  INTELLECTUAL PROPERTY CROSS LICENSE.

          Each Credit Party acknowledges and hereby agrees that, on the Closing
Date and thereafter, each other Credit Party may make use of Intellectual
Property owned from time to time by such Credit Party in the ordinary course of
business, pursuant to licenses hereby granted under this SECTION 2.10 from such
Credit Party (the "AFFILIATE LICENSES"). Each Credit Party hereby agrees that,
in the event of any foreclosure by Agent or Lenders pursuant to SECTION 6.3, or
in the event of any bankruptcy, insolvency or similar proceeding involving any
Credit Party, to the extent required by Agent, such Credit Party shall maintain
in existence the Affiliate Licenses on the same terms and conditions, or on no
less favorable terms and conditions, than those license terms and conditions in
existence on the date of foreclosure, bankruptcy, insolvency or similar
proceeding and Agent is hereby authorized to utilize, transfer and/or assign the
Affiliated Licenses in connection with such foreclosure, bankruptcy, insolvency
or similar proceeding; provided, that the license grant provided for herein
shall be limited to use by the applicable Credit Party for the conduct of its
business operations as conducted upon the date of foreclosure, or the
commencement of a bankruptcy, insolvency or similar proceeding, as applicable,
and for no other purpose. Within ninety (90) days after the Original Closing
Date, Borrowers shall cause each of the Credit Parties to more formally
memorialize the above arrangements in writing in a manner reasonably acceptable
to Agent, it being understood that the terms and conditions of any Affiliate
License may be amended from time to time in accordance with the reasonable
business needs of the Credit Parties party thereto so long as, except as
expressly contemplated by a license arrangement that has been accepted by Agent
as provided above, each Credit Party continues to have a license to use the
Intellectual Property of each other Credit Party.

                                    SECTION 3
                               NEGATIVE COVENANTS

          Each Credit Party executing this Agreement jointly and severally
agrees as to all Credit Parties that from and after the date hereof until the
Termination Date:

          Section 3.1   INDEBTEDNESS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries directly or indirectly to create, incur, assume, or otherwise
become or remain directly or indirectly liable with respect to any Indebtedness
(other than pursuant to a Contingent Obligation permitted under SECTION 3.4)
except:

          (a)     the Obligations;

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<Page>

          (b)     subject to SECTION 2.7(d) and so long as no such loans are
made to an Unrestricted Subsidiary, intercompany Indebtedness arising from loans
made by:

          (i)     Wholly-owned Subsidiaries of Ultimate Holdings to
     Ultimate Holdings for the purposes described in SECTIONS 3.5(a),
     3.5(e), 3.5(i) and 3.5(j) (subject to the dollar restrictions set
     forth in such Sections);

          (ii)    US Borrowers to their Wholly-owned US Subsidiaries (and
     to the extent expressly consented to in any Inter-Subsidiary Loan
     Notice, any Wholly-owned Subsidiary of either US Borrower to any
     Wholly-owned US Subsidiary of such Subsidiary) to fund working
     capital and general corporate needs of such Subsidiaries in the
     ordinary course of business;

          (iii)   US Borrowers to their Wholly-owned Non-US Subsidiaries
     (and to the extent expressly consented to in any Inter-Subsidiary
     Loan Notice, any Wholly-owned Subsidiary of either US Borrower to
     any Wholly-owned Non-US Subsidiary of such Subsidiary) to fund
     working capital and general corporate needs of such Subsidiaries
     in the ordinary course of business in an aggregate amount not to
     exceed the Dollar Equivalent of US$10,000,000 (or the Dollar
     Equivalent of US$15,000,000 so long as, after giving effect to
     such loan, (x) average daily US Borrowing Availability for the
     90-day period preceding the then present date exceeded
     US$20,000,000 and (y) no Default or Event of Default was in
     existence) at any time outstanding reduced by the aggregate
     amount invested pursuant to SECTION 3.3(d) which is applicable to
     this clause (iii);

          (iv)    US Borrowers to European Borrower and to Wholly-owned
     Subsidiaries of European Borrower or of European Second Tier
     Dutch Holdings (and to the extent expressly consented to in any
     Inter-Subsidiary Loan Notice, any Wholly-owned Subsidiary of
     either US Borrower to any Wholly-owned Subsidiary of European
     Borrower or of European Second Tier Dutch Holdings) to fund
     working capital and general corporate needs of such Persons in
     the ordinary course of business in an aggregate amount not to
     exceed the Dollar Equivalent of US$4,000,000 at any time
     outstanding reduced by the aggregate amount invested pursuant to
     SECTION 3.3(d) which is applicable to this clause (iv);

          (v)     European Borrower to Wholly-owned Subsidiaries of
     European Borrower or of European Second Tier Dutch Holdings (and
     to the extent expressly permitted in any Inter-Subsidiary Loan
     Notice, any Wholly-owned Subsidiary of European Borrower to any
     Wholly-owned Subsidiary of European Borrower or of European
     Second Tier Dutch Holdings) to fund working capital and general
     corporate needs of such Subsidiaries in the ordinary course of
     business in an aggregate amount not to exceed the Dollar
     Equivalent of US$7,500,000 (or the Dollar Equivalent of
     US$10,000,000 so long as, after giving effect to such loan, (x)
     average daily European Borrowing

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<Page>

     Availability for the 90-day period preceding the then present
     date exceeded 10,000,000 Euros and (y) no Default or Event of
     Default was in existence) at any time outstanding reduced by the
     aggregate amount invested pursuant to SECTION 3.3(d) which is
     applicable to this clause (v);

          (vi)    European Borrower to US Borrowers or Wholly-owned US
     Subsidiaries of US Borrowers (and to the extent expressly
     consented to in any Inter-Subsidiary Loan Notice, any
     Wholly-owned Subsidiary of European Borrower to US Borrowers or
     any Wholly-owned US Subsidiary of US Borrowers) to fund working
     capital and general corporate needs of such Persons in the
     ordinary course of business in an aggregate amount not to exceed
     the Dollar Equivalent of US$5,000,000 at any time outstanding
     reduced by the aggregate amount invested pursuant to SECTION
     3.3(d) which is applicable to this clause (vi) (additionally, to
     the extent that after giving effect to any payment under the
     Public Note Indenture permitted by SECTION 3.5(c), US Borrowing
     Availability plus the aggregate amount of cash and Cash
     Equivalents on hand of Ultimate Holdings, Holdings, US SportRack
     Holdings, US Borrowers and the Subsidiaries of US Borrowers would
     be less than the Dollar Equivalent of US$12,500,000, European
     Borrower may make a loan to Holdings on the date such payment is
     due in the amount by which such Availability plus such amount of
     cash and Cash Equivalents is less than the Dollar Equivalent of
     US$12,500,000; provided that such intercompany loan shall be
     repaid as soon as practicable after, and to the extent that
     (after giving effect to such repayment), such Availability plus
     the amount of such cash and Cash Equivalents exceeds the Dollar
     Equivalent of US$12,500,000);

          (vii)   to the extent that an intercompany loan is permitted
     to be made to a Wholly-owned Subsidiary pursuant to any of
     clauses (ii), (iii), (iv), (v) or (vi) above, an intercompany
     loan may be made to a non-Wholly-owned Subsidiary (as opposed to
     a Wholly-owned Subsidiary) established, created or acquired after
     the Closing Date in accordance with SECTION 3.13(ii) or to an
     Unfavorable Jurisdiction Credit Party (solely for the purposes of
     this SECTION 3.1(b), all Unfavorable Jurisdiction Credit Parties
     shall be deemed to be non-Wholly-owned Subsidiaries) to fund
     working capital and general corporate needs of such
     non-Wholly-owned Subsidiary or such Unfavorable Jurisdiction
     Credit Party, as applicable (such intercompany loans, to any
     non-Wholly-owned Subsidiary or Unfavorable Jurisdiction Credit
     Party shall be considered an intercompany loan to a Wholly-owned
     Subsidiary solely for the purposes of making the calculations set
     forth in clauses (ii), (iii), (iv), (v) and (vi) above, as
     applicable), so long as (x) the aggregate amount of all
     outstanding intercompany loans to non-Wholly-owned Subsidiaries
     and Unfavorable Jurisdiction Credit Parties does not exceed the
     Dollar Equivalent of US$3,500,000 at any time outstanding,
     reduced by the aggregate amount invested in non-Wholly-owned
     Subsidiaries and Unfavorable Jurisdiction Credit Parties pursuant
     to SECTION 3.3(d) which is applicable to this clause (vii)

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<Page>

     and (y) no additional intercompany Indebtedness under this clause
     (vii) may be incurred during the existence of an Event of
     Default; and

          (viii)  Ultimate Holdings to its Subsidiaries, from funds
     that Ultimate Holdings receives from its Stockholders
     concurrently with the making of such intercompany loan, so long
     as such intercompany loans are unsecured, no payments are
     permitted on such intercompany loans until all of the Obligations
     have been paid in full and the Commitments have been terminated
     and such intercompany loans are subordinated to the Obligations
     in a manner acceptable to Agent;

PROVIDED, HOWEVER, that all such Indebtedness referred to in the foregoing
clause (i), (ii), (iii), (iv), (v), (vi), (vii) and (viii) shall be evidenced by
promissory notes ("INTERCOMPANY NOTES") having terms reasonably satisfactory to
Agent, the sole originally executed counterparts of which shall be pledged and
delivered to Agent, for the benefit of Agent and Lenders, as security for the
Obligations;

          (c)     intercompany Indebtedness arising from loans made by a Credit
Party to an Unrestricted Subsidiary to fund working capital and general
corporate needs of such Unrestricted Subsidiary in an aggregate amount not to
exceed the Dollar Equivalent of US$1,000,000 at any time outstanding reduced by
the aggregate amount invested pursuant to SECTION 3.3(d) which is applicable to
this clause; PROVIDED, HOWEVER, that (i) all such Indebtedness referred to in
this clause (c) shall be evidenced by Intercompany Notes having terms reasonably
satisfactory to Agent, the sole originally executed counterparts of which shall
be pledged and delivered to Agent, for the benefit of Agent and Lenders, as
security for the Obligations and (ii) no additional intercompany Indebtedness
under this clause (c) may be incurred during the existence of an Event of
Default;

          (d)     the Public Note Debt;

          (e)     the Subordinated Seller PIK Note Debt;

          (f)     the Seller Contingent Payment Debt;

          (g)     Indebtedness incurred in the ordinary course of business not
to exceed the Dollar Equivalent of US$10,000,000 in the aggregate at any time
outstanding secured by purchase money Liens or incurred with respect to Capital
Leases;

          (h)     Indebtedness outstanding on the date hereof and listed on
Schedule 3.1 and any refinancings, refundings, renewals or extensions thereof by
the applicable Credit Party;

          (i)     Indebtedness incurred to repurchase equity issued by Ultimate
Holdings or its direct parent to employees, consultants, agents, officers and
directors of a Credit Party, to the extent such repurchase is permitted by
SECTION 3.5(j);

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          (j)     unsecured Indebtedness which is subordinated to the
Obligations in a manner satisfactory to Agent and Requisite Lenders and which is
incurred in connection with the consummation of any Permitted Acquisition and
which is owing to a seller of the Stock or assets sold pursuant to such
Permitted Acquisition;

          (k)     Permitted Acquisition Earnouts;

          (l)     unsecured indebtedness of Ultimate Holdings owing to its
Stockholders which is subordinated to the Obligations in a manner satisfactory
to Agent and Requisite Lenders and contains terms and conditions which are
satisfactory to Agent and Requisite Lenders, including without limitation not
providing for any scheduled payments whatsoever (other than non-cash payment in
kind payments) until after the Termination Date (the "SUBORDINATED ULTIMATE
HOLDINGS PIK DEBT"); and concurrently with the receipt of proceeds from such
Subordinated Ultimate Holdings PIK Debt, Ultimate Holdings may transfer the
proceeds of such Subordinated Ultimate Holdings PIK Debt to its Subsidiaries as
capital contributions or intercompany loans; and

          (m)     any other unsecured Indebtedness owing to any non-Credit Party
not to exceed the Dollar Equivalent of US$10,000,000 in the aggregate at any
time outstanding; provided that the aggregate amount of such Indebtedness (or,
without duplication, any Contingent Obligations pertaining to such Indebtedness)
at any time owing (or potentially owing with respect to Contingent Obligations)
by European Ultimate Holdings or any of its Subsidiaries shall not exceed the
Dollar Equivalent of US$6,000,000; provided that (i) no additional Indebtedness
under this clause (m) may be incurred during the continuance of an Event of
Default and (ii) up to the Dollar Equivalent of US$5,000,000 in the aggregate at
any time outstanding of Indebtedness of any Unrestricted Subsidiary may be
secured (it being understood that no other Credit Party shall have any
Contingent Obligations with respect to such Indebtedness) by the assets of such
Unrestricted Subsidiary in favor of the Person that funded the acquisition of
such Credit Party as contemplated in the proviso to clause (ix) of the last
paragraph of SECTION 3.6.

          Section 3.2   LIENS AND RELATED MATTERS.

          (a)     NO LIENS. The Credit Parties shall not and shall not cause or
permit their Subsidiaries to directly or indirectly create, incur, assume or
permit to exist any Lien on or with respect to any property or asset of such
Credit Party or any such Subsidiary, whether now owned or hereafter acquired, or
any income or profits therefrom, except Permitted Encumbrances (including,
without limitation, those Liens constituting Permitted Encumbrances existing on
the date hereof and renewals and extensions thereof, as set forth on SCHEDULE
3.2).

          (b)     NO NEGATIVE PLEDGES. The Credit Parties shall not and shall
not cause or permit their Subsidiaries to directly or indirectly enter into or
assume any agreement (other than the Loan Documents) prohibiting the creation or
assumption of any Lien upon its properties or assets, whether now owned or
hereafter acquired, except (i) pursuant to the terms of the Public Note
Indenture, (ii) pursuant to the documentation evidencing the

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Indebtedness permitted by SECTION 3.1(g) so long as such prohibition only
applies to the assets subject to such purchase money Liens or Capital Leases and
no other assets whatsoever, (iii) negative pledges contained in asset sales
agreements permitted by this Agreement so long as such negative pledges only
apply to the assets being sold under such asset sales agreements, (iv) negative
pledges contained in that certain Escrow Agreement dated the Original Closing
Date, among US SportRack Holdings, Bank One, NA, Bank One Trust Company,
National Association and Gibbs/AAS LLC (as such Escrow Agreement was in effect
on the Original Closing Date) so long as any such negative pledges only relate
to the property that is subject to the escrow under such Escrow Agreement, and
(v) negative pledges granted by Unrestricted Subsidiaries or their direct parent
to the holders of secured Indebtedness owing by such Unrestricted Subsidiaries
to the extent that such Indebtedness is permitted by SECTION 3.1(m) and such
negative pledges only apply to the assets or Stock of such Unrestricted
Subsidiary and not to any other assets or Stock whatsoever.

          (c)     NO RESTRICTIONS ON SUBSIDIARY DISTRIBUTIONS TO BORROWERS. The
Credit Parties shall not and shall not cause or permit their Subsidiaries to
directly or indirectly create or otherwise cause or suffer to exist or become
effective any consensual encumbrance or restriction of any kind on the ability
of any such Subsidiary to: (i) pay dividends or make any other distribution on
any of such Subsidiary's Stock owned by any Borrower or any other Subsidiary
(other than encumbrances or restrictions requiring that any payment of dividends
or distributions be made on a pro rata basis to the holders of such Stock); (ii)
pay any Indebtedness owed to any Borrower or any other Subsidiary; (iii) make
loans or advances to any Borrower or any other Subsidiary; or (iv) except for
restrictions on the transfers of specific assets subject to Capital Leases or
other leases or purchase money obligations, transfer any of its property or
assets to any Borrower or any other Subsidiary, except as provided (A) in this
Agreement, (B) in the Public Note Indenture, (C) in the terms (existing as of
the time of the applicable Permitted Acquisition) of the Indebtedness of a
Target that is assumed in connection with a Permitted Acquisition so long as (x)
such Indebtedness is not incurred by any Person in connection with or
anticipation or contemplation of such Permitted Acquisition and (y) such terms
are not applicable to any Person, or the properties or assets of any Person,
other than the Target or the properties or assets of the Target so acquired, (D)
in the terms of Indebtedness of a non-Wholly-owned Subsidiary or an Unfavorable
Jurisdiction Credit Party so long as (x) no proceeds of any Loans are directly
or indirectly loaned, invested or otherwise transferred to such non-Wholly-owned
Subsidiary or Unfavorable Credit Party, (y) none of the consideration paid in
connection with the acquisition of such non-Wholly-owned Subsidiary or such
Unfavorable Jurisdiction Credit Party was funded directly or indirectly with the
proceeds of any Loans and (z) such terms are not applicable to any Person, or
the properties or assets of any Person, other than to such non-Wholly-owned
Subsidiary or Unfavorable Jurisdiction Credit Party and (E) in the terms of
secured Indebtedness of Unrestricted Subsidiaries so long as (x) such
Indebtedness is permitted by SECTION 3.1(m) and (y) such terms are not
applicable to any Person, or the properties or assets of any Person, other than
such Unrestricted Subsidiary or the properties or assets of such Unrestricted
Subsidiary.

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                                     Page 44
<Page>

          Section 3.3   INVESTMENTS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly make or own any Investment in any Person
except:

          (a)     any Credit Party may make and own Investments in Cash
Equivalents subject to Control Agreements in favor of Agent; PROVIDED that such
Cash Equivalents are not subject to setoff rights; PROVIDED, FURTHER, such
Control Agreements shall only be required with respect to Cash Equivalents of
Non-US Credit Parties to the extent reasonably requested by Agent and as
required by SECTION 3.14;

          (b)     the Credit Parties may make intercompany loans to each other
to the extent permitted under SECTIONS 3.1(b) and (c);

          (c)     Borrowers and their Subsidiaries may make loans and advances
to employees for moving, entertainment, travel and other similar expenses in the
ordinary course of business consistent with past practices not to exceed the
Dollar Equivalent of US$1,000,000 in the aggregate at any time outstanding;

          (d)     in lieu of making intercompany loans pursuant to SECTIONS
3.1(b) and (c), the Credit Parties may make Investments in the form of capital
contributions to each other to the extent that if such capital contribution was
made as an intercompany loan it would be permitted by SECTIONS 3.1(b) and (c)
(the amount of any such capital contribution shall be considered to be an
outstanding intercompany loan for the purposes of making the calculations set
forth in SECTIONS 3.1(b) and (c), as applicable);

          (e)     concurrently upon receipt of capital contribution funds from
its Stockholders, Ultimate Holdings may further contribute such funds to its
Subsidiaries as capital contributions or intercompany loans;

          (f)     [intentionally reserved];

          (g)     Investments consisting of the extension of trade credit by a
Borrower or one of its Subsidiaries made in the ordinary course of business
consistent with past practices;

          (h)     Investments made in exchange for accounts receivable of a
Borrower or one of its Subsidiaries arising in the ordinary course of business
which are, in the good faith judgment of such Borrower or such Subsidiary,
substantially uncollectible;

          (i)     Investments (including debt obligations, Stock or other
property) to the extent received from another Person by a Credit Party in
connection with (i) any bankruptcy, reorganization, composition, readjustment of
debt or workout of any supplier or customer of any such Credit Party in
settlement of delinquent obligations of, and other disputes with, such suppliers
or customers and (ii) the satisfaction or enforcement of indebtedness or claims
due or owing to a Credit Party or as security for any such indebtedness or
claim, in each case arising in the ordinary course of business;

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          (j)     Investments existing on the date hereof and set forth on
SCHEDULE 3.3 and all extensions or renewals of such existing Investments by the
applicable Credit Party on substantially similar terms;

          (k)     Contingent Obligations permitted by SECTION 3.4;

          (l)     Investments consisting of promissory notes and other noncash
consideration received as proceeds of Asset Dispositions permitted by SECTION
3.7;

          (m)     Investments consisting of acceptance and endorsements of
checks or other negotiable instruments for deposit or collection in the ordinary
course of business;

          (n)     each Credit Party may make Investments to consummate a
Permitted Acquisition;

          (o)     [intentionally reserved]; and

          (p)     other Investments in the ordinary course of business not to
exceed the Dollar Equivalent of US$4,000,000 at any time outstanding; provided
that this clause (p) shall not apply to Investments in any Credit Party.

          Section 3.4   CONTINGENT OBLIGATIONS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly create or become or be liable with
respect to any Contingent Obligation except:

          (a)     Letter of Credit Obligations;

          (b)     [intentionally reserved];

          (c)     those resulting from endorsement of negotiable instruments for
collection in the ordinary course of business;

          (d)     those existing on the Closing Date and described in SCHEDULE
3.4 and any refinancings, refundings, renewals or extensions thereof by the
applicable Credit Party;

          (e)     those arising under indemnity agreements to title insurers to
cause such title insurers to issue to Agent mortgagee title insurance policies;

          (f)     those arising with respect to customary indemnification
obligations incurred in connection with Asset Dispositions permitted hereunder;

          (g)     those incurred in the ordinary course of business with respect
to surety and appeal bonds, performance and return-of-money bonds and other
similar obligations not exceeding at any time outstanding the Dollar Equivalent
of US$4,000,000 in aggregate liability;

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<Page>

          (h)     those incurred with respect to Indebtedness permitted by
SECTION 3.1 provided that (i) any such Contingent Obligation is subordinated to
the Obligations to the same extent, if any, as the Indebtedness to which it
relates is subordinated to the Obligations, (ii) no Non-US Credit Party shall
have any Contingent Obligation with respect to the Public Note Debt, (iii) no
Credit Party shall have any Contingent Obligation with respect to the
Subordinated Seller PIK Note Debt or the Seller Contingent Payment Debt except
to the extent such Credit Party is permitted to have any Contingent Obligations
with respect to the Public Note Debt as provided in the foregoing clause (ii),
(iv) no Credit Party other than Ultimate Holdings shall have any Contingent
Obligation with respect to the Subordinated Ultimate Holdings PIK Debt and (v)
no Credit Party shall have any Contingent Obligation with respect to any
Indebtedness of any Unrestricted Subsidiary;

          (i)     those existing under the Acquisition Agreement, as it is in
effect on the Original Closing Date;

          (j)     reimbursement obligations with respect to irrevocable letter
of credit No. 05151630, dated January 6, 2000 and amended on June 11, 2002,
issued by Bank One, Michigan on behalf US SportRack Holdings in favor of Andy
Gibbs and Doug Gibbs in the stated amount of US$8,325,000; provided that such
reimbursement obligations are collateralized in a manner satisfactory to Agent
and are paid solely from cash or certificates of deposits provided by Sellers;

          (k)     those arising with respect to customary indemnification
provided to officers and directors of any Credit Party in their capacity as
officers and directors of such Credit Party;

          (l)     those arising with respect to customary indemnification
provided to investment banks, accountants, consultants and other professionals
in connection with potential Permitted Acquisitions or debt or equity placements
that would be permitted hereunder;

          (m)     those incurred in the ordinary course of business and not for
speculative purposes to fix or hedge foreign currency risk; and

          (n)     any other Contingent Obligation not expressly permitted by
clauses (a) through (m) above, so long as any such other Contingent Obligations,
in the aggregate at any time outstanding, do not exceed the Dollar Equivalent of
US$5,000,000 (it being understood that this clause (n) shall not affect any of
the restrictions set forth in clause (h) above).

          Section 3.5   RESTRICTED PAYMENTS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly declare, order, pay, make or set apart
any sum for any Restricted Payment, except that:

          (a)     any Wholly-owned Subsidiary of Ultimate Holdings may make
payments and distributions to Ultimate Holdings that are used concurrently by
Ultimate

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<Page>

Holdings to pay federal, state, local or other income taxes then due and owing,
franchise taxes and other similar licensing expenses and administrative expenses
incurred in the ordinary course of business consistent with past practices;
PROVIDED that each such Subsidiary's aggregate contribution to taxes as a result
of the filing of a consolidated or combined return by Ultimate Holdings shall
not be greater, nor the aggregate receipt of tax benefits less, than they would
have been had such Subsidiary not filed a consolidated or combined return with
Ultimate Holdings;

          (b)     (i)   Wholly-owned Subsidiaries of a Borrower may make
Restricted Payments to such Borrower or to the other Stockholders of such
Wholly-owned Subsidiary and (ii) non-Wholly-owned Subsidiaries of a Borrower may
make Restricted Payments to the Stockholders of such non-Wholly-owned Subsidiary
so long as the pro-rata amount (based on each Stockholder's then respective
ownership interest in the Stock of such non-Wholly-owned Subsidiary) of
Restricted Payments received by its Stockholders that are Credit Parties is
equal to or more than the pro-rata amount of the Restricted Payment then being
made to its other Stockholders that are not Credit Parties;

          (c)     the US Credit Parties may make mandatory payments required
under the Public Note Indenture, including without limitation, (i) regularly
scheduled semi-annual interest payments on the Initial Public Notes on June 15
and December 15 of each year (commencing with December 15, 2003), (ii) Permitted
Prepayments of the Public Note Debt and (iii) mandatory repurchases on the
Initial Public Note Debt pertaining to Asset Dispositions pursuant to Sections
3.10 and 4.10 of the Initial Public Note Indenture; notwithstanding the
foregoing, no such mandatory repurchases (or any offer to make such repurchases)
on the Initial Public Note Debt are permitted prior to the date that all of the
Term Loans have been paid in full;

          (d)     [intentionally reserved];

          (e)     with respect to the Seller Contingent Payment Debt, US Credit
Parties may make cash payments of the Seller Contingent Payment Debt when due
pursuant to the terms of Section 2.4(c) of the Acquisition Agreement (as such
Section 2.4(c), together with any other sections of the Acquisition Agreement
applicable to the terms thereof, are in effect on the Original Closing Date);
provided that (i) within ten (10) Business Days prior to the making of such
payment, Borrower Representative has delivered to Agent (x) with respect to any
payment of any "Yearly Contingent Payment" (as defined in the Acquisition
Agreement, as in effect on the Original Closing Date), a certified true and
correct copy of the Contingent Payment Statement (as defined in the Acquisition
Agreement, as in effect on the Original Closing Date) indicating the amount of
the Seller Contingent Payment Debt then due along with reasonably detailed
calculations of such amount and (y) with respect to any payment of the Seller
Contingent Payment Debt pursuant to the last three sentences of Section 2.4(c)
of the Acquisition Agreement (as such Section 2.4(c), together with any other
sections of the Acquisition Agreement applicable to the terms thereof, are in
effect on the Original Closing Date), a Compliance Certificate evidencing
compliance with the following clause (ii); and (ii) after giving effect to such
payment, (x) Borrowers are in compliance on a pro forma basis

                                     Annex A
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<Page>

with the covenants set forth in SECTION 4 recomputed for the most recently ended
quarter for which information is available and (y) no Default or Event of
Default is then in existence;

          (f)     with respect to the Seller Contingent Payment Debt, to the
extent that cash payments of the regularly scheduled yearly payments of the
Seller Contingent Payment Debt are not permitted by SECTION 3.5(e), Ultimate
Holdings may make a payment in kind (as opposed to payment in cash or payment in
other property) payment of such amount (i) by issuing, or causing US Borrowers
to issue, a Subordinated Seller Contingent Payment Note pursuant to the terms of
Section 2.4(c) of the Acquisition Agreement (as such Section, together with any
other sections of the Acquisition Agreement applicable to the terms thereof, are
in effect on the Original Closing Date) and (ii) by increasing the aggregate
principal amount of the Subordinated Seller PIK Note pursuant to the terms of
Section 2.4(c) of the Acquisition Agreement (as such Section, together with any
other sections of the Acquisition Agreement applicable to the terms thereof, are
in effect on the Original Closing Date);

          (g)     Credit Parties may make (i) regularly scheduled payment in
kind (as opposed to payment in cash or payment in other property) payments
pursuant to the terms of the third paragraph of the Subordinated Seller PIK
Notes (as such paragraph, together with any other sections of the Subordinated
Seller PIK Notes applicable to the terms thereof, are in effect on the Original
Closing Date) and pursuant to the third paragraph of the Subordinated Seller
Contingent Payment Notes, if any, in each case, on March 31, June 30, September
30 and December 31 of each year, commencing June 30, 2003 and (ii) to the extent
permitted under Section 2.2(a)(v) of the Subordinated Seller PIK Notes and
Section 2.2(a)(v) of the Subordinated Contingent Payment Notes, payments in cash
or other property not to exceed Euro 45,379 with respect to such Subordinated
Seller PIK Note or Subordinated Contingent Payment Note in any twelve month
period, together with any interest accrued on such amount;

          (h)     with respect to a Permitted Acquisition Earnout, the
applicable Credit Party may make payments of such Permitted Acquisition Earnout
when due to the holder of such Permitted Acquisition Earnout; provided that (i)
within ten (10) Business Days prior to the making of such payment, Borrower
Representative has delivered to Agent a certified true and correct copy of a
calculation evidencing, in reasonable detail, the amount of such Permitted
Acquisition Earnout then due and (ii) after giving effect to such payment, (w)
Borrowers are in compliance on a pro forma basis with the covenants set forth in
SECTION 4 recomputed for the most recently ended quarter for which information
is available, (x) no Default or Event of Default is then in existence, (y) US
Borrower Availability plus European Borrower Availability exceeds the Dollar
Equivalent of US$5,000,000 and (z) the performance of the Credit Parties
acquired, established or created in connection with the related Permitted
Acquisition meets or exceeds the performance contemplated by the Acquisition Pro
Forma and Acquisition Projections each pertaining to such Permitted Acquisition;

          (i)     any Wholly-owned Subsidiary of Ultimate Holdings may pay
directly, or may make payments and distributions to Ultimate Holdings that are
used concurrently by

                                     Annex A
                                     Page 49
<Page>

Ultimate Holdings to pay, reasonable out-of-pocket expenses and quarterly
management fees payable pursuant to the Management Services Agreement; provided
that (i) such management fees shall not exceed the Dollar Equivalent of
US$995,000 per quarter (plus the Dollar Equivalent of one (1.00%) percent per
quarter of the amount of equity contributions made directly or indirectly by CHP
in Ultimate Holdings after the Closing Date, to the extent (x) that Ultimate
Holdings has further contributed such amounts as equity contributions to
Borrowers and (y) Borrower Representative has given Agent notice of each such
contribution by CHP on or around the time that it is made) in the aggregate
during any Fiscal Quarter, and (ii) after giving effect to such payment of
management fees, (x) Borrowers are in compliance on a pro forma basis with the
covenants set forth in SECTION 4 recomputed for the most recently ended quarter
for which information is available and (y) no Event of Default is then in
existence (notwithstanding the foregoing, in the event that the Credit Parties
(A) are prohibited from paying the management fees contemplated under this
SECTION 3.5(i) during any Fiscal Quarter as a result of a failure to satisfy the
conditions set forth in this SECTION 3.5(i) in such Fiscal Quarter, Credit
Parties may make such payments if and when each of the conditions set forth in
this SECTION 3.5(i) are satisfied as of the time of eventual payment or (B)
voluntarily elect not to pay the management fees contemplated under this SECTION
3.5(i) during any Fiscal Quarter in which they have satisfied the conditions set
forth in this SECTION 3.5(i), Credit Parties may make such payments during any
subsequent Fiscal Quarter);

          (j)     any Wholly-owned Subsidiary of Ultimate Holdings may make
payments and distributions to Ultimate Holdings that are used concurrently by
Ultimate Holdings to repurchase Stock owned by employees of a Credit Party whose
employment with such Credit Party has been terminated, provided that the
aggregate amount of such distributions (along with the amount of any loans made
as contemplated by SECTION 3.1(i)) shall not exceed Dollar Equivalent of
US$2,000,000 in any Fiscal Year or Dollar Equivalent of US$5,000,000 during the
term of this Agreement and provided that no Event of Default exists at the time
of such Restricted Payment or would occur as a result thereof;

          (k)     [intentionally reserved]; and

          (l)     the Credit Parties may pay (i) the "Post-Closing Purchase
Price Adjustment" when due in accordance with Section 2.3 of the Acquisition
Agreement, as such Section, together with any other sections of the Acquisition
Agreement applicable to the terms thereof, are in effect on the Original Closing
Date, (ii) indemnity payments when due in accordance with Section 8.9(a) and
Section 9.3 of the Acquisition Agreement (and any other provisions in the
Acquisition Agreement applicable to the indemnity obligations under such Section
8.9(a) and Section 9.3) as in effect on the Original Closing Date, (iii)
payments in respect of tax refunds and tax credits when due in accordance with
(and to the extent required under) Section 8.6 of the Acquisition Agreement, as
such Section, together with any other sections of the Acquisition Agreement
applicable to the terms thereof, are in effect on the Original Closing Date,
(iv) tax payments when due in accordance with (and to the extent required under)
Section 8.5 and Section 8.7 of the Acquisition Agreement, as such Sections,
together with any other sections of the Acquisition Agreement applicable to the
terms thereof, are in effect on the Original Closing Date, (v) payments in
respect of insurance to the extent required under Section 8.9(b) of the
Acquisition Agreement, as such Section, together

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<Page>

with any other sections of the Acquisition Agreement applicable to the terms
thereof, are in effect on the Original Closing Date, (vi) payments in respect of
costs and expenses to the extent required under Section 12.5 of the Acquisition
Agreement, as such Section, together with any other sections of the Acquisition
Agreement applicable to the terms thereof, are in effect on the Original Closing
Date, (vii) payments of the Netherlands capital tax when due in accordance with
(and to the extent required under) Section 2.7 of the Acquisition Agreement, as
such Section, together with any other sections of the Acquisition Agreement
applicable to the terms thereof, are in effect on the Original Closing Date,
(viii) payments in respect of the facility located in Les Naux, Betheny (Marne),
France when due in accordance with (and to the extent required under) Section
7.3 of the Acquisition Agreement, as such Section, together with any other
sections of the Acquisition Agreement applicable to the terms thereof, are in
effect on the Original Closing Date, (ix) payments in respect of reasonable
out-of-pocket expenses incurred in connection with the delivery of
certifications and other documents required to be delivered pursuant to Section
12.15 of the Acquisition Agreement, as such Section, together with any other
sections of the Acquisition Agreement applicable to the terms thereof, are in
effect on the Original Closing Date and (x) payments and distributions (1) to
the extent required under Section 12.16 of the Acquisition Agreement, as such
Section, together with any other sections of the Acquisition Agreement
applicable to the terms thereof, are in effect on the Original Closing Date and
(2) to the extent relating to payments owing to the Sellers that are otherwise
expressly permitted to made under the terms hereof.

          Section 3.6   RESTRICTION ON FUNDAMENTAL CHANGES.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly: (a) amend, modify or waive any term or
provision of its organizational documents, including its articles of
incorporation, articles of association, certificates of designations pertaining
to preferred stock, by-laws, partnership agreement, operating agreement or any
shareholders' agreements (except in a manner that would not conflict with any
provision of any Loan Document and would not be adverse in any material respect
to Lenders) unless required by law; (b) enter into any transaction of merger,
amalgamation or consolidation except, (i) upon not less than five (5) Business
Days prior written notice to Agent, (w) any Wholly-owned US Subsidiary of a US
Borrower may be merged with or into such US Borrower (PROVIDED that such US
Borrower is the surviving entity), (x) any Wholly-owned Non-US Subsidiary (other
than an Unrestricted Subsidiary) of European Borrower may be merged with or into
European Borrower (PROVIDED that European Borrower is the surviving entity), (y)
any Wholly-owned Subsidiary of a Borrower may be merged or amalgamated with or
into another Wholly-owned Subsidiary of such Borrower (PROVIDED that (A) both
such Subsidiaries were formed or incorporated under the laws of the same
country, (B) the Stock of the Subsidiary that is the surviving entity is subject
to a Pledge Agreement, (C) the Subsidiary that is the surviving entity has
executed a Guaranty and (D) neither such Subsidiary is an Unrestricted
Subsidiary), (ii) with respect to the European Mergers and (iii) Borrowers and
their Subsidiaries may enter into an agreement to effect any merger,
amalgamation or consolidation, the closing of which is conditioned upon the
payment in full in cash of all of the Obligations (other than contingent
indemnification obligations to the extent

                                     Annex A
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<Page>

no unsatisfied claim giving rise thereto has been asserted) and the termination
of the Revolving Loan Commitments; (c) liquidate, wind-up or dissolve itself (or
suffer any liquidation or dissolution), except in the case of Subsidiaries of a
Borrower, (i) to the extent such Subsidiary is dormant, (ii) to the extent such
dissolution, wind-up or liquidation will not have a Material Adverse Effect, or
(iii) the Agent shall have consented thereto; or (d) acquire by purchase or
otherwise all or any substantial part of the business or assets of any other
Person.

          Notwithstanding the foregoing, any Credit Party, may acquire all or
substantially all of the assets or Stock of any Person (the "TARGET") (in each
case, a "PERMITTED ACQUISITION") subject to the satisfaction of each of the
following conditions:

          (i)     Agent shall receive at least 25 days' prior written notice of
such proposed Permitted Acquisition, which notice shall include a reasonably
detailed description of such proposed Permitted Acquisition;

          (ii)    such Permitted Acquisition shall only involve assets (A)
except as provided in clause (v) below, located in the United States or Canada
and (B) comprising a business, or those assets of a business, of the type
engaged in by Credit Parties as of the Closing Date or of a type reasonably
related thereto, and which business would not subject Agent or any Lender to
regulatory or third party approvals in connection with the exercise of its
rights and remedies under this Agreement or any other Loan Documents other than
approvals applicable to the exercise of such rights and remedies with respect to
the Credit Parties prior to such Permitted Acquisition;

          (iii)   such Permitted Acquisition shall be consensual and shall have
been approved by the Target's board of directors;

          (iv)    no additional Indebtedness, Guaranteed Indebtedness or
Contingent Obligations shall be incurred, assumed or otherwise be reflected on a
consolidated balance sheet of the Credit Parties and Target after giving effect
to such Permitted Acquisition, except (A) Loans made hereunder, (B) ordinary
course trade payables and accrued expenses, (C) other Indebtedness permitted
under SECTION 3.1 and (D) other Contingent Obligations permitted under SECTION
3.4;

          (v)     the sum of all amounts payable in connection with all
Permitted Acquisitions (including all transaction costs and all Indebtedness,
liabilities and Contingent Obligations incurred or assumed in connection
therewith or otherwise reflected on a consolidated balance sheet of the Credit
Parties and Target) (the "TOTAL CONSIDERATION") shall not exceed the US Dollar
Equivalent of US$20,000,000 (exclusive of the amount of any "earnouts" incurred
by any Credit Party in connection with Permitted Acquisitions ("PERMITTED
ACQUISITION EARNOUTS")) during the term hereof; provided further, and without
limiting the foregoing, (A) with respect to Permitted Acquisitions involving
assets located outside of the United States or Canada, (x) the secured lending
and bankruptcy laws of the jurisdiction in which such assets are located must be
acceptable to Agent, except to the extent to which the aggregate Total
Consideration of all Permitted Acquisitions that involve assets

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<Page>

located in jurisdictions which have lending or bankruptcy laws that are not
acceptable to Agent does not exceed the Dollar Equivalent of US$5,000,000 during
the term hereof (a Credit Party that has assets in any such jurisdiction that is
not acceptable to Agent is hereinafter referred to as an "UNFAVORABLE
JURISDICTION CREDIT PARTY") and (y) the Total Consideration of all such
Permitted Acquisitions shall not exceed the US Dollar Equivalent of
US$10,000,000 during the term hereof and (B) the maximum potential aggregate
amount of obligations of the Credit Parties with respect to all Permitted
Acquisition Earnouts pertaining to a Permitted Acquisition shall not exceed 50%
of the Total Consideration of such Permitted Acquisition;

          (vi)    the terms of any Permitted Acquisition Earnout shall (A)
include a provision in form and substance satisfactory to Agent (which by its
terms shall not be permitted to be amended, waived or modified without the prior
written consent of Agent (or any successor of Agent)) pursuant to which (x) the
Permitted Acquisition Earnout is only permitted to be paid to the extent such
payment is expressly permitted by this Agreement (as this Agreement may be
amended, modified, replaced or refinanced from time to time), and (y) to the
extent any Permitted Acquisition Earnout payment is made in violation of this
Agreement (as this Agreement may be amended, modified, replaced or refinanced)
the holder of such Permitted Acquisition Earnout agrees to promptly forward such
payment to Agent (or any successor to Agent) and (B) provide that the Earnout is
only payable to the extent that the performance of the Credit Parties acquired,
established or created in connection with the related Permitted Acquisition
exceeds the performance contemplated by the Acquisition Pro Forma and
Acquisition Projections each pertaining to such Permitted Acquisition;

          (vii)   the Target shall not have incurred an operating loss for the
trailing twelve-month period preceding the date of the Permitted Acquisition, as
determined based upon the Target's financial statements for its most recently
completed trailing twelve-month period prior to the date of consummation of such
Permitted Acquisition;

          (viii)  the business and assets acquired in such Permitted Acquisition
shall be free and clear of all Liens (other than Permitted Encumbrances);

          (ix)    at or prior to the closing of any Permitted Acquisition, Agent
will be granted a first priority perfected Lien (subject to Permitted
Encumbrances) in all assets acquired pursuant thereto or in the assets and Stock
of the Target in the manner provided by SECTION 2.7, and the Credit Parties and
the Target shall have executed such documents and taken such actions as may be
required by Agent in connection therewith; provided that to the extent that such
Permitted Acquisition is funded solely by third party Indebtedness for borrowed
money (and without any Loan proceeds whatsoever) in an aggregate amount not to
exceed the Dollar Equivalent of US$ 5,000,000 and the Person that is acquired in
such Permitted Acquisition is an Unrestricted Subsidiary or all of the assets
acquired in such Permitted Acquisition are acquired by an Unrestricted
Subsidiary, such Unrestricted Subsidiary shall not be required to grant a Lien
on its assets in favor of Agent to the extent, and so long as, such grant would
violate the terms of such third party Indebtedness for borrowed money;

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          (x)     concurrently with delivery of the notice referred to in CLAUSE
(i) above, Borrowers shall have delivered to Agent, in form and substance
reasonably satisfactory to Agent in order to demonstrate the following:

          (A)     a pro forma consolidated balance sheet, income statement and
     cash flow statement of Holdings, Borrowers and their Subsidiaries (the
     "ACQUISITION PRO FORMA"), based on recent financial statements, which shall
     be complete and shall fairly present in all material respects the assets,
     liabilities, financial condition and results of operations of Holdings,
     Borrowers and their Subsidiaries in accordance with GAAP consistently
     applied, but taking into account such Permitted Acquisition and the funding
     of all Loans in connection therewith, and such Acquisition Pro Forma shall
     reflect that (x) average daily US Borrowing Availability for the 90-day
     period preceding the consummation of such Permitted Acquisition would have
     exceeded US$9,000,000 on a pro forma basis (after giving effect to such
     Permitted Acquisition and all Loans funded in connection therewith as if
     made on the first day of such period) and the Acquisition Projections shall
     reflect that such US Borrowing Availability of US$9,000,000 shall continue
     for at least 90 days after the consummation of such Permitted Acquisition,
     (y) average daily European Borrowing Availability for the 90-day period
     preceding the consummation of such Permitted Acquisition would have
     exceeded 3,500,000 Euros on a pro forma basis (after giving effect to such
     Permitted Acquisition and all Loans funded in connection therewith as if
     made on the first day of such period) and the Acquisition Projections shall
     reflect that such European Borrowing Availability of 3,500,000 Euros shall
     continue for at least 90 days after the consummation of such Permitted
     Acquisition, and (z) on a pro forma basis, no Event of Default has occurred
     and is continuing or would result after giving effect to such Permitted
     Acquisition and Borrowers would have been in compliance with the financial
     covenants set forth in SECTION 4 for the four quarter period reflected in
     the Compliance Certificate most recently delivered to Agent pursuant to
     SECTION 4.8(n) prior to the consummation of such Permitted Acquisition
     (after giving effect to such Permitted Acquisition and all Loans funded in
     connection therewith as if made on the first day of such period);

          (B)     updated versions of the most recently delivered Projections
     covering the twelve month period commencing on the date of such Permitted
     Acquisition and otherwise prepared in accordance with the Projections (the
     "ACQUISITION PROJECTIONS") and based upon historical financial data of a
     recent date reasonably satisfactory to Agent, taking into account such
     Permitted Acquisition; and

          (C)     a certificate of the chief financial officer of Borrower
     Representative to the effect that Borrowers will be Solvent upon the
     consummation of the Permitted Acquisition;

          (xi)    on or prior to the date of such Permitted Acquisition, Agent
shall have received, in form and substance reasonably satisfactory to Agent in
order to confirm compliance with this Agreement, copies of the acquisition
agreement and related agreements

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and instruments, and all opinions, certificates, lien search results and other
documents reasonably requested by Agent, including those specified in the
SECTIONS 2.6 and 2.7; and

          (xii)   at the time of such Permitted Acquisition and after giving
effect thereto, (A) no Default or Event of Default has occurred and is
continuing and (B) each representation or warranty by any Credit Party contained
herein (including without limitation SECTION 5.13; and solely for the purposes
of this clause (xii), the representations and warranties in SECTION 5.13 solely
with respect to any property acquired pursuant to such Permitted Acquisition
shall be deemed made as of the date immediately after the consummation of such
Permitted Acquisition rather than as of the Closing Date) or in any other Loan
Document is true and correct in all material respects as of such date, except to
the extent that such representation or warranty expressly relates to an earlier
date.

          Section 3.7   DISPOSAL OF ASSETS OR SUBSIDIARY STOCK.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly convey, sell, lease, sublease, transfer
or otherwise dispose of, or grant any Person an option to acquire, in one
transaction or a series of related transactions, any of its property, business
or assets, whether now owned or hereafter acquired, except for (a) conveyances,
sales, leases, subleases, transfers or dispositions of any property, business or
assets during any Fiscal Year which in the aggregate do not have a fair market
or book value in excess of the Dollar Equivalent of US$2,000,000; (b) sales of
inventory, dispositions of obsolete or slow moving inventory and dispositions of
obsolete or worn out machinery and equipment, in each case made in the ordinary
course of business; (c) transfers of assets resulting from any casualty or
condemnation of such assets; (d) an agreement to effect the disposition of all
or a portion of the assets of a Borrower or such Subsidiary, the closing of
which is conditioned upon the payment in full in cash of all of the Obligations
(other than contingent indemnification obligations to the extent no unsatisfied
claim giving rise thereto has been asserted) and the termination of the
Revolving Loan Commitments; (e) the sale or discount of overdue accounts
receivable arising in the ordinary course of business, but only if no Event of
Default exists and only in connection with the compromise or collection thereof;
(f) the sale or other disposition, in each case for not less than the fair
market value, of any Investments permitted to be made by SECTION 3.3(a); (g) the
leasing or subleasing of real estate in the ordinary course of business to third
parties, including without limitation, entering into renewals or extensions of
existing leases, entering into replacement leases, entering into subleases and
other similar transactions; (h) an Asset Disposition otherwise permitted by
SECTION 3.6; (i) other Asset Dispositions by Borrowers and their Subsidiaries
(excluding sales of Accounts and Stock of any of Ultimate Holdings'
Subsidiaries) if all of the following conditions are met: (i) the market value
of assets sold or otherwise disposed of in any single transaction or series of
related transactions does not exceed the Dollar Equivalent of US$2,500,000 and
the aggregate market value of assets sold or otherwise disposed of in any Fiscal
Year does not exceed the Dollar Equivalent of US$6,000,000; (ii) the
consideration received is not less than the fair market value of such assets;
(iii) at least 75% of the consideration is received in (x) cash, (y) Cash
Equivalents or (z) the assumption by the purchaser or other Person (other than a
Credit Party) of the assets subject to the Asset Disposition of Indebtedness of
a Credit Party owing with respect to such assets; (iv) the Net

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Proceeds of such Asset Disposition are applied as required by SECTION 1.5(c);
(v) after giving effect to the Asset Disposition and the repayment of
Indebtedness with the proceeds thereof, Borrowers are in compliance on a pro
forma basis with the covenants set forth in SECTION 4 recomputed for the most
recently ended quarter for which information is available; and (vi) no Default
or Event of Default exists immediately after giving effect to such Asset
Disposition; and (j) the issuance or sale of Stock of a Non Wholly-owned
Subsidiary of a Borrower in connection with the formation or acquisition of such
Subsidiary but only to the extent permitted hereunder. Notwithstanding the
foregoing, no Stock of Holdings, US SportRack Holdings, European Ultimate
Holdings (except in connection with the European Mergers) or any Borrower may be
sold, transferred or otherwise disposed without the prior consent of Lenders or
Requisite Lenders, as applicable, except to consummate the European Mergers and
except with respect to nominee shares and directors' qualifying shares required
by law.

          Section 3.8   TRANSACTIONS WITH AFFILIATES.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly enter into or permit to exist any
transaction (including the purchase, sale, lease or exchange of any property or
the rendering of any management, consulting, investment banking, advisory or
other similar services) with any Affiliate or with any director, officer or
employee of any Credit Party, except (a) as set forth on SCHEDULE 3.8, (b)
transactions in the ordinary course of and pursuant to the reasonable
requirements of the business of any such Credit Party or any of its Subsidiaries
and upon fair and reasonable terms which are fully disclosed to Agent (provided
that the terms of transactions with portfolio companies of CHP are not required
to be disclosed to Agent) and are no less favorable to any such Credit Party or
any of its Subsidiaries than would be obtained in a comparable arm's length
transaction with a Person that is not an Affiliate, (c) payment of reasonable
compensation (including reasonable bonuses) to officers and employees for
services actually rendered to any such Credit Party or any of its Subsidiaries,
(d) payment of director's fees not to exceed the Dollar Equivalent of US$250,000
in the aggregate for any Fiscal Year of Borrowers and (e) transactions with
Affiliates expressly permitted by SECTION 3.1, 3.3, 3.4, 3.5, 3.6 or 3.7;
provided that this clause (e) shall not apply to transactions with Unrestricted
Subsidiaries except to the extent such transactions are expressly permitted by
SECTION 3.1(c), 3.1(l), 3.3(b), 3.3(d), 3.3(e) and 3.5(b).

          Section 3.9   CONDUCT OF BUSINESS.

          No Credit Party shall directly or indirectly engage in any business
other than businesses of the type described on SCHEDULE 3.9, with respect to
each such Person, or that are reasonably related thereto.

          Section 3.10  CHANGES RELATING TO INDEBTEDNESS; ETC.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly change or amend the terms of any of the
documents evidencing the Subordinated Debt or the Seller Contingent Payment Debt
or the Public Note Debt or any

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earnout (including without limitation any Permitted Acquisition Earnout)
(collectively, the "RESTRICTED ITEMS"), if the effect of such amendment is to:
(a) increase the interest rate or other amounts payable with respect to such
Restricted Item; (b) change the dates upon which payments of principal, interest
or other amounts are due on such Restricted Item or change the principal amount
of such Restricted Item (other than changes that would extend the maturity or
date of such principal, interest or other amounts or reduce the amount of such
payment); (c) add or make more restrictive any event of default or covenant with
respect to such Restricted Item; (d) change the redemption or prepayment
provisions of such Restricted Item; (e) change the subordination provisions
thereof (or the subordination terms of any guaranty thereof); (f) change or
amend any other term if such change or amendment would materially increase the
obligations of the obligor or confer additional material rights on the holder of
such Restricted Item in a manner adverse to any Credit Party or Lenders; or (g)
increase the portion of interest payable in cash with respect to any Restricted
Item for which interest is payable by the issuance of payment-in-kind notes or
is permitted to accrue. Notwithstanding the foregoing, the Subordinated Seller
Contingent Payment Notes may be amended pursuant to and in accordance with the
provisions of Section 6.1 thereof and the Subordinated Seller PIK Notes may be
amended pursuant to and in accordance with the provisions of Section 6.1
thereof.

          Section 3.11  FISCAL YEAR.

          No Credit Party shall change its Fiscal Year or permit any of its
Subsidiaries to change their respective fiscal years.

          Section 3.12  PRESS RELEASE; PUBLIC OFFERING MATERIALS.

          Each Credit Party executing this Agreement agrees that neither it nor
its Affiliates will in the future issue any press releases or other public
disclosure, including any prospectus, proxy statement or other materials filed
with any Governmental Authority relating to a public offering of the Stock of
any Credit Party, using the name of GE Capital or its affiliates or referring to
the terms of this Agreement or of any other Loan Document or referring to this
specific Agreement or any other Loan Document (as opposed to referring the
existence of a senior credit facility generally) without at least two (2)
Business Days' prior notice to GE Capital and without the prior written consent
of GE Capital unless (and only to the extent that) such Credit Party or
Affiliate is required to do so under law and then, in any event, such Credit
Party or Affiliate will consult with GE Capital before issuing such press
release or other public disclosure. Each Credit Party consents to the
publication by Agent or any Lender of a tombstone or similar advertising
material relating to the financing transactions contemplated by this Agreement.
Agent or such Lender shall provide a draft of any such tombstone or similar
advertising material to each Credit Party for review and comment prior to the
publication thereof. Agent reserves the right to provide to financial industry
trade organizations information necessary and customary for inclusion in league
table measurements.

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<Page>

          Section 3.13  SUBSIDIARIES.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly establish, create or acquire any new
Subsidiary, except (i) with the prior written consent of Agent, which such
consent shall not be unreasonably withheld, or (ii) that a Borrower or any of
its Subsidiaries may establish, create or acquire Subsidiaries to consummate a
Permitted Acquisition.

          Section 3.14  BANK ACCOUNTS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to establish any new bank accounts without prior written notice to
Agent and unless Agent and the bank at which the account is to be opened enter
into a tri-party agreement regarding such bank account pursuant to which such
bank acknowledges the security interest of Agent in such bank account, agrees
during the continuance of an Event of Default (or with respect to a bank account
that is maintained by a Canadian Credit Party with a bank located in Canada,
agrees during any time that Agent reasonably has grounds to question such Credit
Party's compliance with any provisions of the Loan Documents) to comply with
instructions originated by Agent directing disposition of the funds in the bank
account without further consent from such Credit Party or Subsidiary (it being
understood that Agent is only entitled to sweep funds in an aggregate amount not
to exceed the amount of the Obligations then due by acceleration or otherwise),
and agrees to subordinate and limit any security interest the bank may have in
the bank account on terms satisfactory to Agent (a "CONTROL Agreement");
PROVIDED that unless Agent requests and except as required in the following
sentence, no Control Agreement shall be required with respect to bank accounts
established outside of the United States of America by Non-US Credit Parties and
no such Control Agreement by any such Non-US Credit Party shall be required to
the extent such Control Agreement would violate applicable law. Within ninety
(90) days after the Original Closing Date, each Non-US Credit Party shall
establish a Control Agreement and (i) each Non-US Credit Party shall cause all
funds of such Non-US Credit Party in excess of the Dollar Equivalent of
US$500,000 in the aggregate to be deposited into accounts subject to such
Control Agreement and (ii) the Non-US Credit Parties shall cause all funds of
the Non-US Credit Parties in excess of the Dollar Equivalent of US$2,000,000 in
the aggregate to be deposited into accounts subject to such Control Agreement.

          Section 3.15  HAZARDOUS MATERIALS.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to cause or permit a Release of any Hazardous Material on, at, in,
under, above, to, from or about any of the Real Estate where such Release would
(a) violate in any respect, or form the basis for any Environmental Liabilities
by the Credit Parties or any of their Subsidiaries under, any Environmental Laws
or Environmental Permits or (b) otherwise adversely impact the value or
marketability of any of the Real Estate or any of the Collateral, other than
such violations or Environmental Liabilities that could not reasonably be
expected to have a Material Adverse Effect.

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          Section 3.16  ERISA/CANADIAN PENSION PLAN.

          The Credit Parties shall not and shall not cause or permit any ERISA
Affiliate to, cause or permit to occur an ERISA Event to the extent such ERISA
Event could reasonably be expected to have a Material Adverse Effect.

          Additionally, for each existing Canadian Pension Plan, each Credit
Party shall ensure that such plan retains its registered status under and is
administered in a timely manner in all material respects in accordance with the
applicable pension plan text, funding agreement, the Income Tax Act (Canada) and
all other applicable laws. For each Canadian Pension Plan hereafter adopted by
any Credit Party which is required to be registered under the Income Tax Act
(Canada) or any other applicable laws, that Credit Party shall use its best
efforts to seek and receive confirmation in writing from the applicable
Governmental Authorities to the effect that such plan is unconditionally
registered under the Income Tax Act (Canada) and such other applicable laws. For
each existing and hereafter adopted Canadian Pension Plan and Canadian Benefit
Plan, each Credit Party shall in a timely fashion perform in all material
respects all obligations (including fiduciary, funding, investment and
administration obligations) required to be performed in connection with such
plan and the funding media therefor. Each Credit Party shall deliver to Agent if
requested by Agent, promptly after the filing thereof by any Credit Party with
any applicable Governmental Authority, (i) copies of each annual and other
return, report or valuation with respect to each Canadian Pension Plan; (ii)
promptly after receipt thereof, a copy of any direction, order, notice, ruling
or opinion that any Credit Party may receive from any applicable Governmental
Authority with respect to any Canadian Pension Plan; and (iii) notification
within 30 days of any increases having a cost to such Credit Party in excess of
the Dollar Equivalent of US$250,000 per annum, in the benefits of any existing
Canadian Pension Plan or Canadian Benefit Plan, or the establishment of any new
Canadian Pension Plan or Canadian Benefit Plan, or the commencement of
contributions to any such plan to which any Credit Party was not previously
contributing.

          Section 3.17  SALE-LEASEBACKS.

          Except as set forth on SCHEDULE 3.17, the Credit Parties shall not and
shall not cause or permit any of their Subsidiaries to engage in any
sale-leaseback, synthetic lease or similar transaction involving any of its
assets.

          Section 3.18  PREPAYMENTS OF OTHER INDEBTEDNESS.

          The Credit Parties shall not, directly or indirectly, voluntarily
purchase, redeem, defease or prepay any principal of, premium, if any, interest
or other amount payable in respect of any Indebtedness described in any of
clause (a), (b), (c) or (g) of the definition of Indebtedness (or in respect of
any Indebtedness during the continuance of an Event of Default), other than (i)
the Obligations, (ii) Indebtedness secured by a Permitted Encumbrance if the
asset securing such Indebtedness is being sold or otherwise disposed of in
accordance with SECTION 3.7, (iii) to the extent permitted by SECTIONS 3.1(b)
and (c),

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intercompany Indebtedness owing to a Borrower or any of its Subsidiaries, (iv)
Indebtedness otherwise owing to a Borrower or (v) Permitted Prepayments.

          Section 3.19  GIBBS LITIGATION.

          The Credit Parties shall not and shall not cause or permit their
Subsidiaries to directly or indirectly, amend or otherwise modify, or issue any
direction, consent or certificate under, that certain Escrow Agreement dated on
the Original Closing Date, among US SportRack Holdings, Bank One, NA, Bank One
Trust Company, National Association and Gibbs/AAS LLC, without the prior written
consent of Agent

                                    SECTION 4
                          FINANCIAL COVENANTS/REPORTING

          Borrowers covenant and agree that from and after the date hereof until
the Termination Date, Borrowers shall perform and comply with, and shall cause
each of the other Credit Parties to perform and comply with, all covenants in
this SECTION 4 applicable to such Person.

          Section 4.1   INTENTIONALLY RESERVED.

          Section 4.2   INTENTIONALLY RESERVED.

          Section 4.3   INTENTIONALLY RESERVED.

          Section 4.4   MINIMUM FIXED CHARGE COVERAGE RATIO.

          Holdings, Borrowers and their Subsidiaries on a consolidated basis
shall have, as of the last day of each Fiscal Quarter (commencing with the
Fiscal Quarter ending on June 30, 2004), from the date hereof until the
Termination Date, a Fixed Charge Coverage Ratio for the 12-month period then
ended of not less than 1.15 to 1.0.

          Section 4.5   INTENTIONALLY RESERVED.

          Section 4.6   INTENTIONALLY RESERVED.

          Section 4.7   MAXIMUM SENIOR SECURED LEVERAGE RATIO.

          Holdings, Borrowers and their Subsidiaries on a consolidated basis
shall have, as of the last day of each Fiscal Quarter, from the date hereof
until the Termination Date, a Senior Secured Leverage Ratio for the 12-month
period then ended of not more than 1.25 to 1.0.

          Section 4.8   FINANCIAL STATEMENTS AND OTHER REPORTS.

          Ultimate Holdings and Borrowers will maintain, and cause each of their
Subsidiaries to maintain, a system of accounting established and administered in
accordance with sound business practices to permit preparation of Financial
Statements in conformity

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with GAAP (it being understood that quarterly Financial Statements are subject
to normal year-end adjustments and are not required to have footnote
disclosures). Borrower Representative will deliver each of the Financial
Statements and other reports described below to Agent (and each Lender, by
posting such Financial Statements and other reports to IntraLinks, in the case
of the Financial Statements and other reports described in SECTIONS (4.8)(a),
(b), (d), (f), (h), (i), (j) and (n); Lenders agree that such posting to
IntraLinks shall be a sufficient means of delivering such Financial Statements
and other reports to Lenders).

          (a)     QUARTERLY FINANCIALS. As soon as available and in any event
within forty five (45) days after the end of each Fiscal Quarter (including the
last Fiscal Quarter of Borrowers' Fiscal Year), Borrower Representative will
deliver (1) the consolidated and consolidating balance sheets of Holdings,
Borrowers and their Subsidiaries, as at the end of such Fiscal Quarter, and the
related consolidated and consolidating statements of income, stockholders'
equity and cash flow for such Fiscal Quarter and for the period from the
beginning of the then current Fiscal Year of Borrowers to the end of such Fiscal
Quarter, (2) a report setting forth in comparative form the corresponding
figures for the corresponding periods of the previous Fiscal Year and the
corresponding figures from the most recent Projections for the current Fiscal
Year delivered pursuant to SECTION 4.8(h) and (3) a schedule of the outstanding
Indebtedness for borrowed money (other than Indebtedness for borrowed money owed
to any Person which in the aggregate is less than the Dollar Equivalent of
US$250,000) of Holdings, Borrowers and their Subsidiaries describing in
reasonable detail each such debt issue or loan outstanding and the principal
amount and amount of accrued and unpaid interest with respect to each such debt
issue or loan.

          (b)     YEAR-END FINANCIALS. As soon as available and in any event
within ninety (90) days after the end of each Fiscal Year of Borrowers, Borrower
Representative will deliver (1) the consolidated and consolidating balance
sheets of Holdings, Borrowers and their Subsidiaries, as at the end of such
year, and the related consolidated and consolidating statements of income,
stockholders' equity and cash flow for such Fiscal Year, (2) a schedule of the
outstanding Indebtedness for borrowed money (other than Indebtedness for
borrowed money owed to any Person which in the aggregate is less than the Dollar
Equivalent of US$250,000) of Holdings, Borrowers and their Subsidiaries
describing in reasonable detail each such debt issue or loan outstanding and the
principal amount and amount of accrued and unpaid interest with respect to each
such debt issue or loan and (3) a report with respect to the consolidated
Financial Statements from a firm of Certified Public Accountants selected by
Borrowers and reasonably acceptable to Agent, which report shall be prepared in
accordance with Statement of Auditing Standards No. 58 (the "STATEMENT")
"Reports on Audited Financial Statements" and such report shall be without (x) a
"GOING CONCERN" or like qualification or exception, (y) any qualification or
exception as to the scope of such audit or (z) any qualification which relates
to the treatment or classification of any item and which, as a condition to the
removal of such qualification, would require an adjustment to such item, the
effect of which would be to cause a Borrower to be in default of any of its
obligations under SECTIONS 4.1 through 4.7.

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          (c)     ACCOUNTANTS' REPORTS. Promptly upon receipt thereof, Borrower
Representative will deliver copies of all significant reports submitted by
Borrowers' firm of certified public accountants (or the equivalent of certified
public accountants) in connection with each annual, interim or special audit or
review of any type of the Financial Statements or related internal control
systems of Ultimate Holdings, Holdings, Borrowers or their Subsidiaries made by
such accountants, including any significant comment letter submitted by such
accountants to management in connection with their services.

          (d)     US BORROWING BASE CERTIFICATE/EUROPEAN BORROWING BASE
CERTIFICATE. As soon as available and in any event within ten (10) Business Days
after the end of each month, and upon the request of Agent after the occurrence
and during the continuation of any Event of Default from time to time, Borrower
Representative will deliver a US Borrowing Base Certificate (in substantially
the same form as EXHIBIT 4.8(d)(i), the "US BORROWING BASE CERTIFICATE") as at
the last day of such period. As soon as available and in any event within ten
(10) Business Days after the end of each month, and upon the request of Agent
after the occurrence and during the continuation of any Event of Default from
time to time, Borrower Representative will deliver a European Borrowing Base
Certificate (in substantially the same form as EXHIBIT 4.8(d)(ii), the "EUROPEAN
BORROWING BASE CERTIFICATE") as at the last day of such period.

          (e)     MANAGEMENT REPORT. Together with each delivery of Financial
Statements pursuant to SECTIONS 4.8(a) and (b), Borrower Representative will
deliver a management report (1) describing the operations and financial
condition of Ultimate Holdings, Borrowers and their Subsidiaries for the Fiscal
Quarter then ended and the portion of the current Fiscal Year then elapsed (or
for the Fiscal Year then ended in the case of year-end financials), (2) setting
forth in comparative form the corresponding figures for the corresponding
periods of the previous fiscal year and the corresponding figures from the most
recent Projections for the current Fiscal Year delivered pursuant to SECTION
4.8(h) and (3) discussing the reasons for any significant variations. The
information above shall be presented in reasonable detail and shall be certified
by the chief financial officer of Holdings to the effect that such Financial
Statements fairly present the results of operations and financial condition of
Holdings, Borrowers and their Subsidiaries as at the dates and for the periods
indicated subject to normal year-end adjustments.

          (f)     COLLATERAL VALUE REPORT. Upon the election of Agent, which may
be made not more than once each year prior to an Event of Default (and prior to
an Event of Default, Borrowers shall not be liable for costs, fees and expenses
incurred by Agent and Lenders in excess of the Dollar Equivalent of US$35,000
during any calendar year in connection with any collateral value report required
pursuant to this SECTION 4.8(f)) and at any time while and so long as an Event
of Default shall be continuing, Agent may obtain, at Borrowers' expense, a
report of a collateral auditor satisfactory to Agent (which may be, or be
affiliated with, a Lender) with respect to the Eligible Accounts and Eligible
Inventory components included in either the US Borrowing Base or the European
Borrowing Base, as applicable, which report shall indicate whether or not the
information set forth in the US Borrowing Base Certificate or the European
Borrowing Base Certificate, as applicable, most recently delivered is accurate
and complete in all material respects based upon a review

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by such auditor of the Eligible Accounts (including verification with respect to
the amount, aging, identity and credit of the respective account debtors and the
billing practices of Borrowers) and Eligible Inventory (including verification
as to the value, location and respective types).

          (g)     APPRAISALS. From time to time, if Agent or any Lender
determines that obtaining appraisals is necessary in order for Agent or such
Lender to comply with applicable laws or regulations, Agent will, at Borrowers'
expense, obtain appraisal reports in form and substance and from appraisers
reasonably satisfactory to Agent stating the then current fair market values of
all or any portion of the Real Estate owned by Credit Parties. In addition to
the foregoing, at Borrowers' expense, at any time while and so long as an Event
of Default shall have occurred and be continuing, Agent may obtain appraisal
reports in form and substance and from appraisers satisfactory to Agent stating
the then current market values of all or any portion of the Real Estate and
personal property owned by any of the Credit Parties.

          (h)     PROJECTIONS. As soon as available and in any event no later
than the last day of each of Borrowers' Fiscal Years, Borrower Representative
will deliver Projections of Holdings, Borrowers and their Subsidiaries for the
forthcoming three (3) fiscal years, year by year, and for the forthcoming fiscal
year, month by month.

          (i)     SEC FILINGS, PRESS RELEASES AND PUBLIC NOTES DELIVERIES.
Promptly upon their becoming available, Borrower Representative will deliver
copies of (1) all Financial Statements, reports, notices and proxy statements
sent or made available by Ultimate Holdings, Holdings, Borrowers or any of their
Subsidiaries to their Stockholders, (2) all regular and periodic reports and all
registration statements and prospectuses, if any, filed by Ultimate Holdings,
Holdings, Borrowers or any of their Subsidiaries with any securities exchange or
with the Securities and Exchange Commission, or any material reports, statements
and prospectuses, if any, filed with any other Governmental Authority, (3) all
material press releases made available by Ultimate Holdings, Holdings, Borrowers
or any of their respective Subsidiaries to the public concerning developments in
the business of any such Person and (4) all notices, certificates (including,
without limitation, the items required under Section 4.4 of the Initial Public
Note Indenture) or reports sent or received by any Credit Party in connection
with the Public Notes.

          (j)     EVENTS OF DEFAULT, ETC. Promptly upon any officer of any
Credit Party obtaining knowledge of any of the following events or conditions,
Borrower Representative shall deliver copies of all notices given or received by
such Borrower or Ultimate Holdings or any of their Subsidiaries with respect to
any such event or condition and a certificate of a senior authorized officer of
Borrower Representative specifying the nature and period of existence of such
event or condition and what action Ultimate Holdings, Borrowers or any of their
Subsidiaries has taken, is taking and proposes to take with respect thereto: (1)
any condition or event that constitutes an Event of Default under SECTION
6.1(b); (2) any condition or event that constitutes any other Event of Default;
(3) any notice that any Person has given to any Borrower or any of their
Subsidiaries or any other action taken with respect to a claimed default or
event or condition of the type referred to in SECTION 6.1(b); or (4) any

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event or condition that could reasonably be expected to result in any Material
Adverse Effect.

          (k)     LITIGATION. Promptly upon any officer of any Credit Party
obtaining knowledge of (1) the institution of any action, charge, claim, demand,
suit, proceeding, petition, governmental investigation, tax audit or arbitration
now pending or, to the knowledge of such Credit Party, threatened against or
affecting any Credit Party or any of its Subsidiaries or any property of any
Credit Party or any of its Subsidiaries ("LITIGATION") not previously disclosed
by Borrower Representative to Agent or (2) any material order is entered in any
action, suit, proceeding, governmental investigation or arbitration at any time
pending against or affecting any Credit Party or any property of any Credit
Party which, in the case of each of clause (1) and (2) above, could reasonably
be expected to have a Material Adverse Effect, Borrower Representative will
promptly give notice thereof to Agent and provide such other information as may
be reasonably available to them (except to the extent such information is
protected by attorney-client privilege) to enable Agent and its counsel to
evaluate such matter.

          (l)     NOTICE OF CORPORATE AND OTHER CHANGES/UPDATES TO
REPRESENTATIONS AND WARRANTIES TIED TO THE CLOSING DATE/"UNRESTRICTED
SUBSIDIARY" UNDER THE INITIAL PUBLIC NOTE INDENTURE. Borrower Representative
shall provide prompt written notice of (1) any material change after the Closing
Date in the authorized and issued Stock of any Credit Party or any Subsidiary of
any Credit Party or any material amendment to its articles or certificate of
incorporation, articles of association, by-laws, partnership agreement or other
organizational documents, (2) any Subsidiary created or acquired by any Credit
Party or any of its Subsidiaries after the Closing Date, such notice, in each
case, to identify the applicable jurisdictions, capital structures or
Subsidiaries, as applicable, (3) any event that would cause any of the
representations and warranties made under any of SECTIONS 5.7, 5.13 (provided
that solely with respect to this clause (3), all references in SECTION 5.13 to
"in excess of the Dollar Equivalent of US$100,000 in the aggregate" shall be
deemed replaced by a reference to "in a Material Adverse Effect") and 5.16 to be
inaccurate or incomplete assuming such representations and warranties were made
as of the current date rather than as of the Closing Date. Borrower
Representative shall provide written notice, at least once each calendar quarter
of any event that would cause any of the representations and warranties made
under any of SECTIONS 5.4(b), 5.8 and 5.12 (provided such notice pertaining to
SECTION 5.12 shall only be required to the extent that a similar notice is not
otherwise required by the terms of this Agreement or any other Loan Document, in
which case the terms of such similar notice requirement shall govern) to be
inaccurate or incomplete assuming such representations and warranties were made
as of the current date rather than as of the Closing Date and (4) any Credit
Party becoming an "Unrestricted Subsidiary" as defined in the Initial Public
Note Indenture. The foregoing notice requirements set forth in the previous two
sentences shall not be construed to constitute consent by any of the Lenders to
any transaction referred to therein which is not expressly permitted by the
terms of this Agreement.

          (m)     OTHER INFORMATION. With reasonable promptness, Borrower
Representative will deliver such other information and data with respect to any
Credit Party

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or any Subsidiary of any Credit Party as from time to time may be reasonably
requested by Agent.

          (n)     COMPLIANCE CERTIFICATE. Together with each delivery of
Financial Statements of Holdings, Borrowers and their Subsidiaries pursuant to
SECTIONS 4.8(a) and (b), Borrower Representative will deliver a fully and
properly completed Compliance Certificate (in substantially the same form as
EXHIBIT 4.8(n) (the "COMPLIANCE CERTIFICATE") signed by Borrower
Representative's chief executive officer or chief financial officer.

          (o)     TAXES. Borrower Representative shall provide prompt written
notice of (i) the execution or filing with the IRS or any other Governmental
Authority of any agreement or other document extending, or having the effect of
extending, the period for assessment or collection of any Charges by any Credit
Party or any of its Subsidiaries and (ii) any agreement by any Credit Party or
any of its Subsidiaries or request directed to any Credit Party or any of its
Subsidiaries to make any adjustment under IRC Section 481(a), by reason of a
change in accounting method or otherwise, which, in the case of each of clause
(i) and (ii) above, could reasonably be expected to have a Material Adverse
Effect.

          Section 4.9   ACCOUNTING TERMS; UTILIZATION OF GAAP FOR PURPOSES OF
CALCULATIONS UNDER AGREEMENT.

          For purposes of this Agreement, all accounting terms not otherwise
defined herein shall have the meanings assigned to such terms in conformity with
GAAP. Financial statements and other information furnished to Agent pursuant to
SECTION 4.8 or any other Section (unless specifically indicated otherwise) shall
be prepared in accordance with GAAP as in effect at the time of such
preparation; PROVIDED that no Accounting Change shall affect financial
covenants, standards or terms in this Agreement; PROVIDED further that Borrowers
shall prepare footnotes to the Financial Statements required to be delivered
hereunder that show the differences between the Financial Statements delivered
(which reflect such Accounting Changes) and the basis for calculating financial
covenant compliance (without reflecting such Accounting Changes). All such
adjustments described in clause (c) of the definition of the term Accounting
Changes resulting from expenditures in excess of the Dollar Equivalent of
US$500,000 made subsequent to the Closing Date (including capitalization of
costs and expenses or payment of pre-Closing Date liabilities) shall, unless
otherwise agreed by Agent, be treated as expenses in the period the expenditures
are made.

                                    SECTION 5
                         REPRESENTATIONS AND WARRANTIES

          To induce Agent and Lenders to enter into the Loan Documents, to make
Loans and to issue or cause to be issued Letters of Credit, Borrowers and the
other Credit Parties executing this Agreement represent, warrant and covenant to
Agent and each Lender that the following statements are and, after giving effect
to (i) the Related Transactions and the making of each Loan and issuance of each
Letter of Credit on the Closing Date,

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will remain true, correct and complete as of the Closing Date with respect to
all Credit Parties and (ii) the making of each Loan and issuance of each Letter
of Credit after the Closing Date, will remain true, correct and complete in all
material respects as of the date of such Loan or issuance with respect to all
Credit Parties:

          Section 5.1   DISCLOSURE.

          No certificate or written statement furnished to Agent or any Lender,
by or on behalf of any Credit Party for use in connection with the Loan
Documents, contains as of the date such certificate or written statement was so
furnished, any untrue statement of a material fact or omitted to state a
material fact necessary in order to make the statements contained therein not
misleading, in each case in light of the circumstances in which the same were
made.

          Section 5.2   NO MATERIAL ADVERSE CHANGE.

          Since December 31, 2002 there have been no events or changes in facts
or circumstances affecting any Credit Party or any of its Subsidiaries which
individually or in the aggregate have had or could reasonably be expected to
have a Material Adverse Effect and that have not been either (i) disclosed
herein or in the attached Disclosure Schedules or (ii) disclosed by the
Borrowers to the Agent in accordance with SECTION 4.8(j).

          Section 5.3   NO CONFLICT.

          The consummation of the Related Transactions does not and will not
violate or conflict with any laws, rules, regulations or orders of any
Governmental Authority or violate, conflict with, result in a breach of, or
constitute a default (with due notice or lapse of time or both) under any
Contractual Obligation or organizational documents of any Credit Party or any of
its Subsidiaries except if such violations, conflicts, breaches or defaults
could not reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect.

          Section 5.4   ORGANIZATION, POWERS, CAPITALIZATION AND GOOD STANDING.

          (a)     ORGANIZATION AND POWERS. Each of the Credit Parties and each
of their Subsidiaries is duly formed or incorporated, as applicable, validly
existing and in good standing under the laws of its jurisdiction of formation or
incorporation, as applicable, and qualified to do business in all states and
other jurisdictions where such qualification is required except where failure to
be so qualified could not reasonably be expected to have a Material Adverse
Effect. As of the Closing Date, the jurisdiction of incorporation or formation,
as applicable, and all jurisdictions in which each Credit Party is qualified to
do business are set forth on SCHEDULE 5.4(a). Each of the Credit Parties and
each of their Subsidiaries has all requisite organizational power and authority
to own and operate its properties, to carry on its business as now conducted and
proposed to be conducted, to enter into each Related Transactions Document to
which it is a party and to incur the Obligations, grant liens and security
interests in the Collateral and carry out the Related Transactions.

          (b)     CAPITALIZATION. As of the Closing Date: (i) the authorized
Stock of each of the Credit Parties and each of their Subsidiaries is as set
forth on SCHEDULE 5.4(b);

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(ii) all issued and outstanding Stock of each of the Credit Parties and each of
their Subsidiaries is duly authorized and validly issued, fully paid,
nonassessable, free and clear of all Liens other than those in favor of Agent
for the benefit of Agent and Lenders, and such Stock was issued in compliance
with all applicable state, federal and foreign laws concerning the issuance of
securities; (iii) the identity of the holders of the Stock of each of the Credit
Parties and the percentage of their fully-diluted ownership of the Stock
(including CHP's indirect ownership of such Stock) of each of the Credit Parties
is set forth on SCHEDULE 5.4(b); and (iv) no Stock of any Credit Party or any of
their Subsidiaries, other than those described above, are issued and
outstanding. Except as provided in SCHEDULE 5.4(b), as of the Closing Date,
there are no preemptive or other outstanding rights, options, warrants,
conversion rights or similar agreements or understandings for the purchase or
acquisition from any Credit Party or any of their Subsidiaries of any Stock of
any such entity.

          (c)     BINDING OBLIGATION. This Agreement is, and the other Loan
Documents heretofore executed and delivered or when executed and delivered will
be, the legally valid and binding obligations of each Credit Party that is a
party thereto, each enforceable against each of such Credit Party, as
applicable, in accordance with their respective terms, except as enforceability
is limited by bankruptcy, insolvency, reorganization, moratorium or other laws
relating to or affecting generally the enforcement of creditors' rights and
except to the extent that availability of the remedy of specific performance or
injunctive relief and other equitable remedies are subject to the discretion of
the court before which any proceeding therefor may be brought.

          Section 5.5   FINANCIAL STATEMENTS AND PROJECTIONS.

          All Financial Statements concerning Holdings, Borrowers and their
Subsidiaries which have been or will hereafter be furnished to Agent pursuant to
this Agreement, including those listed below, have been or will be prepared in
accordance with GAAP consistently applied (except as disclosed therein) and
present fairly, in all material respects, the financial condition of the
entities covered thereby as at the dates thereof and the results of their
operations for the periods then ended, subject to, in the case of unaudited
Financial Statements, the absence of footnotes and normal year-end adjustments.

          (a)     The consolidated balance sheets at December 31, 2002 and the
related statement of income of Holdings, Borrowers and their Subsidiaries, for
the Fiscal Year then ended, audited by PricewaterhouseCoopers.

          (b)     The consolidated balance sheet at March 31, 2003 and the
related statement of income of Holdings, Borrowers and their Subsidiaries for
the three (3) months then ended.

The Projections delivered on or prior to the Closing Date and the updated
Projections delivered pursuant to SECTION 4.8(h) have been prepared in good
faith and based upon reasonable assumptions at the time such Projections were
delivered, it being understood that such Projections do not and will not
constitute a warranty as to the future performance of any Borrower or its
Subsidiaries and that actual results may vary from such Projections.

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          Section 5.6   INTELLECTUAL PROPERTY.

          Each of the Credit Parties and its Subsidiaries owns, is licensed to
use or otherwise has the right to use, all Intellectual Property necessary for
the conduct of its business substantially as currently conducted that is
material to the financial condition of the business or operations of any of
SportRack US Borrower and its Subsidiaries taken as a whole, Valley US Borrower
and its Subsidiaries taken as a whole or European Borrower and its Subsidiaries
taken as a whole, as applicable, and all such Intellectual Property that is
federally or similarly registered and owned or licensed by such Credit Party or
such Subsidiary, as well as all material trademarks, trade names and copyrights,
necessary for the conduct of the business of any such Person and owned or
licensed by any such Person, is identified on SCHEDULE 5.6 and, in each case, is
fully protected and/or duly and properly registered, filed or issued in the
appropriate office and jurisdictions for such registrations, filings or
issuances. Except as disclosed in SCHEDULE 5.6, since the Closing Date, and to
Borrowers' knowledge prior to the Closing Date, the use of such Intellectual
Property by the Credit Parties and their Subsidiaries and the conduct of their
businesses does not and has not been alleged in writing by any Person to
infringe on the rights of any Person, except to the extent any such infringement
or allegation of infringement could not reasonably be expected to have a
Material Adverse Effect.

          Section 5.7   INVESTIGATIONS, AUDITS, ETC.

          As of the Closing Date, except as set forth on SCHEDULE 5.7, no Credit
Party or any of their Subsidiaries is the subject of any review or audit by the
IRS or any governmental investigation concerning the violation or possible
violation of any law that may reasonably be expected to have a Material Adverse
Effect.

          Section 5.8   EMPLOYEE MATTERS.

          Except as set forth on SCHEDULE 5.8, (a) as of the Closing Date no
Credit Party or Subsidiary of a Credit Party nor any of their respective
employees is subject to any collective bargaining agreement, (b) as of the
Closing Date no petition for certification or union election is pending with
respect to the employees of any Credit Party or any of their Subsidiaries and no
union or collective bargaining unit has sought such certification or recognition
with respect to the employees of any Credit Party or any of their Subsidiaries,
(c) there are no strikes, slowdowns, work stoppages or controversies pending or,
to the best knowledge of any Credit Party after due inquiry, threatened between
any Credit Party or any of their Subsidiaries and its respective employees,
other than employee grievances arising in the ordinary course of business which
could not reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect and (d) hours worked by and payment made to
employees of each Credit Party and each of their Subsidiaries comply with the
Fair Labor Standards Act and each other federal, state, local or foreign law
applicable to such matters. Except as set forth on SCHEDULE 5.8, as of the
Closing Date no Borrower nor any of their Subsidiaries is party to an employment
contract that provides for annual payments after the date hereof in excess of
the Dollar Equivalent of $100,000.

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          Section 5.9   SOLVENCY.

          (1) As of the Closing Date, each of the Credit Parties and its
Subsidiaries is Solvent and (2) after the Closing Date (a) each Borrower, (b) US
Credit Parties considered as a whole and (c) the Credit Parties considered as a
whole, in each case, continues to be Solvent.

          Section 5.10  LITIGATION; ADVERSE FACTS.

          Except as set forth on SCHEDULE 5.10, there are no judgments
outstanding against any Credit Party or any of its Subsidiaries or affecting any
property of any Credit Party or any of its Subsidiaries, nor is there any
Litigation pending, or to the knowledge of any Borrower threatened, against any
Credit Party or any of its Subsidiaries which could reasonably be expected to
result in any Material Adverse Effect.

          Section 5.11  USE OF PROCEEDS; MARGIN REGULATIONS.

          (a)     No part of the proceeds of any Loan will be used for "buying"
or "carrying" "margin stock" within the respective meanings of such terms under
Regulation U of the Board of Governors of the Federal Reserve System as now and
from time to time hereafter in effect or for any other purpose that violates the
provisions of the regulations of the Board of Governors of the Federal Reserve
System. If requested by Agent, each Credit Party will furnish to Agent and each
Lender a statement to the foregoing effect in conformity with the requirements
of FR Form G-3 or FR Form 0-1, as applicable, referred to in Regulation U.

          (b)     Borrowers shall utilize the proceeds of (i) the Loans made on
the Closing Date solely to repay outstanding principal and interest owing on the
Original Loans (provided that no proceeds of the European Loans shall be used to
refinance any of the "US Loans" as defined in the Original Credit Agreement) and
to pay any related transaction expenses and (ii) all other Loans for the
financing of Borrowers' (and subject to the restrictions set forth in the second
to last sentence of this SECTION 5.11(b), their Subsidiaries') ordinary working
capital and general corporate needs. SCHEDULE 5.11 contains a description of
Borrowers' sources and uses of funds as of the Closing Date, including Loans and
Letter of Credit Obligations to be made or incurred on that date, and a funds
flow memorandum detailing how funds from each source are to be transferred for
particular uses. Borrowers shall not transfer any proceeds of any of the Loans
to any of their Subsidiaries except to the extent expressly permitted by
SECTIONS 3.1(b), 3.1(c), 3.3(b) and 3.3(d). Without limiting the foregoing, no
proceeds (i) of any Loans advanced on the Closing Date shall be used to
refinance Indebtedness that was originally used to acquire any Non-US Credit
Party and (ii) of any European Loans shall be used to finance the purchase of
the equity of any Non-US Credit Party or any of its direct or indirect
Stockholders to the extent the application of such proceeds would violate any
applicable financial assistance or other laws.

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          Section 5.12  OWNERSHIP OF PROPERTY; LIENS.

          As of the Closing Date, the real estate (together with any real estate
hereinafter owned, leased, subleased, or used by any Credit Party or any of its
Subsidiaries, the "REAL ESTATE") listed in SCHEDULE 5.12 constitutes all of the
real property owned, leased, subleased, or used by any Credit Party or any of
its Subsidiaries. Each of the Credit Parties and each of its Subsidiaries owns
fee simple title to all of its owned Real Estate, and valid leasehold interests
in all of its leased Real Estate, all as described on SCHEDULE 5.12, and copies
of all such leases or a summary of terms thereof reasonably satisfactory to
Agent have been delivered to Agent. SCHEDULE 5.12 further describes any Real
Estate with respect to which any Credit Party or any of its Subsidiaries is a
lessor, sublessor or assignor as of the Closing Date. Each of the Credit Parties
and each of its Subsidiaries also has good title to, or valid leasehold
interests in, all of its material personal property and assets. As of the
Closing Date, none of the properties and assets of any Credit Party or any of
its Subsidiaries are subject to any Liens other than Permitted Encumbrances.
SCHEDULE 5.12 also describes as of the Closing Date any purchase options, rights
of first refusal or other similar contractual rights pertaining to any Real
Estate. As of the Closing Date, no portion of any Credit Party's or any of its
Subsidiaries' Real Estate has suffered any material damage by fire or other
casualty loss that has not heretofore been repaired and restored in all material
respects to its original condition or otherwise remedied. As of the Closing
Date, all material permits required to have been issued or appropriate to enable
the Real Estate to be lawfully occupied and used for all of the purposes for
which it is currently occupied and used have been lawfully issued and are in
full force and effect.

          Section 5.13  ENVIRONMENTAL MATTERS.

          (a)     Except as set forth in SCHEDULE 5.13, to each Credit Parties'
knowledge, as of the Closing Date: (i) the Real Estate is free of contamination
from any Hazardous Material except for such contamination that could not
reasonably be expected to adversely impact the value or marketability of such
Real Estate and that could not reasonably be expected to result in Environmental
Liabilities of the Credit Parties or their Subsidiaries in excess of the Dollar
Equivalent of US$100,000 in the aggregate; (ii) no Credit Party and no
Subsidiary of a Credit Party has caused or suffered to occur any Release of
Hazardous Materials on, at, in, under, above, to, from or about any of their
Real Estate; (iii) the Credit Parties and their Subsidiaries are and have been
in compliance with all Environmental Laws, except for such noncompliance that
could not reasonably be expected to result in Environmental Liabilities of the
Credit Parties or their Subsidiaries in excess of the Dollar Equivalent of
US$100,000 in the aggregate; (iv) the Credit Parties and their Subsidiaries have
obtained, and are in compliance with, all Environmental Permits required by
Environmental Laws for the operations of their respective businesses as
presently conducted or as proposed to be conducted, except where the failure to
so obtain or comply with such Environmental Permits could not reasonably be
expected to result in Environmental Liabilities of the Credit Parties or their
Subsidiaries in excess of the Dollar Equivalent of US$100,000 in the aggregate,
and all such Environmental Permits are valid, uncontested and in good standing;
(v) no Credit Party and no Subsidiary of a Credit Party is involved in
operations or knows of any facts, circumstances or conditions, including any
Releases of

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Hazardous Materials, that are likely to result in any Environmental Liabilities
of such Credit Party or Subsidiary which could reasonably be expected to be in
excess of the Dollar Equivalent of US$100,000 in the aggregate, and no Credit
Party or Subsidiary of a Credit Party has permitted any current or former tenant
or occupant of the Real Estate to engage in any such operations; (vi) there is
no Litigation arising under or related to any Environmental Laws, Environmental
Permits or Hazardous Material that seeks damages, penalties, fines, costs or
expenses in excess of the Dollar Equivalent of US$100,000 in the aggregate or
injunctive relief against, or that alleges criminal misconduct by any Credit
Party or any Subsidiary of a Credit Party; (vii) no written notice has been
received by any Credit Party or any Subsidiary of a Credit Party identifying any
of them as a "potentially responsible party" or requesting information under
CERCLA or analogous statutes of any state, province, territory or other
jurisdiction, and to the knowledge of the Credit Parties, there are no facts,
circumstances or conditions that may result in any of the Credit Parties or
their Subsidiaries being identified as a "potentially responsible party" under
CERCLA or any such analogous statutes; and (viii) the Credit Parties have
provided to Agent copies of all existing environmental reports, reviews and
audits and all written information pertaining to actual or potential
Environmental Liabilities, in each case relating to any of the Credit Parties or
their Subsidiaries.

          (b)     Each Credit Party hereby acknowledges and agrees that Agent
(i) is not now, and has not ever been, in control of any of the Real Estate or
affairs of such Credit Party or its Subsidiaries , and (ii) does not have the
capacity through the provisions of the Loan Documents or otherwise to influence
any Credit Party's or its Subsidiaries' conduct with respect to the ownership,
operation or management of any of their Real Estate or compliance with
Environmental Laws or Environmental Permits.

          Section 5.14  ERISA/SIMILAR NON-US ISSUES.

          (a)     SCHEDULE 5.14-I lists all Plans and separately identifies all
Pension Plans, including Title IV Plans, Multiemployer Plans, ESOPs and Welfare
Plans, including all Retiree Welfare Plans. Copies of all such listed Plans
(except for Multiemployer Plans), together with a copy of the latest form
IRS/DOL 5500-series for each such Plan (except for Multiemployer Plans) have
been delivered to Agent. Except with respect to Multiemployer Plans, each
Qualified Plan has been determined by the IRS to qualify under Section 401 of
the IRC, the trusts created thereunder have been determined to be exempt from
tax under the provisions of Section 501 of the IRC, and nothing has occurred
that would cause the loss of such qualification or tax-exempt status. Except as
set forth on SCHEDULE 5.14-II, each Plan is in compliance with the applicable
provisions of ERISA and the IRC, including the timely filing of all reports
required under the IRC or ERISA the noncompliance with which could reasonably be
expected to have a Material Adverse Effect. Neither any Credit Party nor ERISA
Affiliate has incurred or expects to incur any liability in connection with an
accumulated funding deficiency under Section 412 of the IRC. Neither any Credit
Party nor ERISA Affiliate has engaged in a "prohibited transaction," as defined
in Section 406 of ERISA and Section 4975 of the IRC, in connection with any
Plan, that would subject any Credit Party to a material tax on prohibited
transactions imposed by Section 502(i) of ERISA or Section 4975 of the IRC.

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          (b)     Except as set forth in SCHEDULE 5.14-III: (i) no Title IV Plan
has any Unfunded Pension Liability; (ii) no ERISA Event or event described in
Section 4062(e) of ERISA with respect to any Title IV Plan has occurred or is
reasonably expected to occur which could reasonably be expected to have a
Material Adverse Effect; (iii) there are no pending, or to the knowledge of any
Borrower, threatened claims (other than claims for benefits in the normal course
and domestic relations orders), sanctions, actions or lawsuits, asserted or
instituted against any Plan or any Person as fiduciary or sponsor of any Plan;
(iv) no Credit Party or ERISA Affiliate has incurred or reasonably expects to
incur any withdrawal liability from a Multiemployer Plan; (v) all terminated
Title IV Plans have been terminated in accordance with ERISA and the IRC and no
Credit Party or ERISA Affiliate has any remaining liability or obligation with
respect to any terminated Title IV Plan; (vi) except in the case of any ESOP,
Stock of all Credit Parties and their ERISA Affiliates makes up, in the
aggregate, no more than 10% of fair market value of the assets of any Plan
measured on the basis of fair market value as of the latest valuation date of
any Plan; and (vii) no liability under any Title IV Plan has been satisfied with
the purchase of a contract from an insurance company that is not rated AAA by
S&P or an equivalent rating by another nationally recognized rating agency.

          (c)     With respect to each scheme or arrangement mandated by a
government other than the United States providing for post-employment benefits
(a "FOREIGN GOVERNMENT SCHEME OR ARRANGEMENT") and with respect to each employee
benefit plan maintained or contributed to by any Credit Party or any Subsidiary
of any Credit Party that is not subject to United States law providing for
post-employment benefits (a "FOREIGN PLAN"): (i) all material employer and
employee contributions required by law or by the terms of any Foreign Government
Scheme or Arrangement or any Foreign Plan have been made, or, if applicable,
accrued, in accordance with normal accounting practices; (ii) the liability of
each Credit Party and each Subsidiary of a Credit Party with respect to a
Foreign Plan is reflected in accordance with normal accounting practices on the
financial statements of such Credit Party or such Subsidiary, as the case may
be; and (iii) each Foreign Plan required to be registered has been registered
and has been maintained in good standing with applicable regulatory authorities
unless, in each case, the failure to do so would not be reasonably likely to
have a Material Adverse Effect.

          Section 5.15  BROKERS.

          No broker or finder acting on behalf of any Credit Party or Affiliate
thereof brought about the obtaining, making or closing of the Loans or the
Related Transactions, and no Credit Party or Affiliate thereof has any
obligation to any Person in respect of any finder's or brokerage fees in
connection therewith.

          Section 5.16  DEPOSIT AND DISBURSEMENT ACCOUNTS.

          SCHEDULE 5.16 lists all banks and other financial institutions at
which any Credit Party maintains deposit or other accounts as of the Closing
Date, including any Disbursement Accounts, and such Schedule correctly
identifies the name, address and

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telephone number of each depository, the name in which the account is held, a
description of the purpose of the account, and the complete account number
therefor.

          Section 5.17  AGREEMENTS AND OTHER DOCUMENTS.

          As of the Closing Date, each Credit Party has provided to Agent or its
counsel, on behalf of Lenders, accurate and complete copies (or summaries) of
all of the following agreements or documents to which it is subject and each of
which is listed in SCHEDULE 5.17: supply agreements and purchase agreements not
terminable by such Credit Party within sixty (60) days following written notice
issued by such Credit Party and involving transactions in excess of the Dollar
Equivalent of US$3,000,000 per annum; leases of Equipment having a remaining
term of one year or longer and requiring aggregate rental and other payments in
excess of the Dollar Equivalent of US$500,000 per annum; licenses and permits
held by the Credit Parties, the absence of which could reasonably be expected to
have a Material Adverse Effect; instruments and documents evidencing any
Indebtedness or Guaranteed Indebtedness of such Credit Party and any Lien
granted by such Credit Party with respect thereto; and instruments and
agreements evidencing the issuance of any equity securities, warrants, rights or
options to purchase equity securities of such Credit Party.

          Section 5.18  INSURANCE.

          SCHEDULE 5.18 lists all insurance policies of any nature maintained,
as of the Closing Date, for current occurrences by each Credit Party, as well as
a summary of the key business terms of each such policy such as deductibles,
coverage limits and term of policy.

          Section 5.19  ACQUISITION AGREEMENT.

          As of the Original Closing Date, Borrowers have delivered to Agent a
complete and correct copy of the Acquisition Agreement (including all schedules,
exhibits, amendments, supplements, modifications, assignments and all other
documents delivered pursuant thereto or in connection therewith). No Credit
Party and, to the knowledge of any Credit Party, no other Person party thereto
is in default in the performance or compliance with any provisions thereof. The
Acquisition Agreement complies with, and the Acquisition has been consummated in
all material respects in accordance with, all applicable laws. The Acquisition
Agreement is in full force and effect as of the Closing Date and has not been
terminated, rescinded or withdrawn. All requisite approvals by Governmental
Authorities having jurisdiction over Sellers, any Credit Party and other Persons
referenced therein, with respect to the transactions contemplated by the
Acquisition Agreement, have been obtained, and no such approvals impose any
conditions to the consummation of the transactions contemplated by the
Acquisition Agreement or to the conduct by any Credit Party of its business
thereafter. To each Borrower's knowledge, none of any Seller's representations
or warranties in the Acquisition Agreement contains any untrue statement of a
material fact or omits any fact necessary to make the statements therein not
misleading. Notwithstanding anything contained in the Acquisition Agreement to
the contrary, such representations and warranties of the Credit Parties (other
than representations and warranties that were made by any Credit Party in its
capacity as an entity being sold pursuant to the Acquisition

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Agreement) are incorporated into this Agreement by this SECTION 5.19 and shall,
solely for purposes of this Agreement and the benefit of Agent and Lenders,
survive the consummation of the Acquisition.

          Section 5.20  EUROPEAN MERGERS.

          The applicable Credit Parties have filed all necessary documents that
may be filed as of the Closing Date, and will file all remaining necessary
documents at the appropriate times after the Closing Date, with all applicable
Governmental Authorities and with all other applicable Persons to complete the
European Mergers in the manner required by SECTION 2.9 and none of the Credit
Parties reasonably expects that the European Mergers will not be completed
within forty (40) days of the Closing Date.

                                    SECTION 6
                          DEFAULT, RIGHTS AND REMEDIES

          Section 6.1   EVENT OF DEFAULT.

          "EVENT OF DEFAULT" shall mean the occurrence or existence of any one
or more of the following:

          (a)     PAYMENT.  (1) Failure to pay any installment or other payment
of principal of any Loan when due, or to repay Revolving Loans to reduce their
balance to the maximum amount of Revolving Loans then permitted to be
outstanding or to reimburse any L/C Issuer for any payment made by such L/C
Issuer under or in respect of any Letter of Credit when due or (2) failure to
pay, within three (3) days after the due date, any interest on any Loan or any
other amount due under this Agreement or any of the other Loan Documents; or

          (b)     DEFAULT IN OTHER AGREEMENTS.

          (1)     With respect to any Indebtedness of any Credit Party (other
     than an Immaterial Credit Party so long as no other Credit Party, other
     than another Immaterial Credit Party, is obligated in any manner with
     respect to such Indebtedness) or any of its Subsidiaries, (x) any Credit
     Party or any of its Subsidiaries fails to pay when due or within any
     applicable grace period any principal or interest on Indebtedness (other
     than the Loans) having an individual principal amount in excess of the
     Dollar Equivalent of US$1,500,000 or having an aggregate principal amount
     in excess of the Dollar Equivalent of US$3,000,000 or (y) the occurrence of
     any breach, default or any other condition or event with respect to any
     Indebtedness (other than the Loans), if the effect of such breach, default
     or occurrence is to cause or to permit the holder or holders then to cause
     Indebtedness having an individual principal amount in excess of the Dollar
     Equivalent of US$1,500,000 or having an aggregate principal amount in
     excess of the Dollar Equivalent of US$3,000,000 to become or be declared
     due prior to its stated maturity; provided however that an Event of Default
     under this clause (1) shall not have occurred with respect to such

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     failure to pay, breach, default or occurrence in the event that (A) such
     Credit Party is in good faith disputing whether any such failure to pay,
     breach, default or occurrence has occurred and such Credit Party has
     deposited with a Person acceptable to Agent and in a manner acceptable to
     Agent cash in an amount equal to the full principal amount of such
     Indebtedness that is then due, has so become due or could so be declared
     due prior to its stated maturity and as a result of such deposit the
     enforcement of such Indebtedness has been stayed, (B) assuming that the
     full amount of such Indebtedness was then due, Borrowers are in compliance
     on a pro forma basis with the covenants set forth in SECTION 4 recomputed
     for the most recently ended quarter for which information is available and
     (C) after giving effect to such deposit, US Borrowing Availability plus
     European Borrowing Availability equals or exceeds the Dollar Equivalent of
     US$5,000,000; or

          (2)     with respect to any Contingent Obligation of any Credit Party
     (other than an Immaterial Credit Party so long as no other Credit Party,
     other than another Immaterial Credit Party, is obligated in any manner with
     respect to such Contingent Obligation) or any of its Subsidiaries, (x) any
     Credit Party of any of its Subsidiaries fails to pay when due or within any
     applicable grace period any Contingent Obligations having an individual
     principal amount in excess of the Dollar Equivalent of US$1,500,000 or
     having an aggregate principal amount in excess of the Dollar Equivalent of
     US$3,000,000 or (y) the occurrence of any condition or event, with respect
     to any Contingent Obligations, if the effect of such occurrence is to cause
     or to permit the holder or holders then to cause Contingent Obligations
     having an individual principal amount in excess of the Dollar Equivalent of
     US$1,500,000 or having an aggregate principal amount in excess of the
     Dollar Equivalent of US$3,000,000 to become or be declared due prior to
     their stated maturity; provided that an Event of Default shall not have
     occurred under this clause (2) with respect to such failure to pay or
     occurrence in the event: (A) there is sufficient US Borrowing Availability
     or European Borrowing Availability, as applicable, such that Agent could
     institute a Reserve (which Borrowers hereby acknowledge that Agent is
     hereby authorized to so institute) against the US Borrowing Base (in the
     event that a US Credit Party is obligated with respect to the Contingent
     Obligation) or the European Borrowing Base (in the event that a Non-US
     Credit Party is obligated with respect to the Contingent Obligation) for
     the full amount of the Contingent Obligation that so has become due or so
     could be declared due without causing an Overadvance and (B) assuming that
     the full amount of such Contingent Obligation was then due, Borrowers are
     in compliance on a pro forma basis with the covenants set forth in SECTION
     4 recomputed for the most recently ended quarter for which information is
     available; or

          (3)     the occurrence of any "Event of Default" as defined in the
     Initial Public Note Indenture or any similar event pertaining to any
     Refinanced Public Note Debt; or

          (c)     BREACH OF CERTAIN PROVISIONS. Failure of any Credit Party to
perform or comply with any term or condition contained in (1) SECTION 2.9,
SECTION 3 (other than SECTION 3.9) or SECTION 4 (other than SECTION 4.8, unless
any Borrower fails to perform or comply

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with any term or condition contained in SECTION 4.8(a), 4.8(b), 4.8(d), 4.8(h),
4.8(j), 4.8(k) or 4.8(n) and such failure occurs more than four (4) times during
any twelve (12) month period); or (2) that portion of SECTION 2.2 relating to
Borrower's obligation to maintain insurance and such failure is not remedied or
waived within five (5) days of such failure; or (3) SECTION 2.3, 3.9, 4.8(a),
4.8(b), 4.8(d), 4.8(h), 4.8(j), 4.8(k) or 4.8(n) (other than failures covered by
clause (1) above) and such failure is not remedied or waived within ten (10)
days of such failure; or

          (d)     BREACH OF WARRANTY. Any representation, warranty,
certification or other statement made by any Credit Party in any Loan Document
or in any statement or certificate at any time given by such Person in writing
pursuant or in connection with any Loan Document is false in any material
respect on the date made; or

          (e)     OTHER DEFAULTS UNDER LOAN DOCUMENTS. Any Credit Party defaults
in the performance of or compliance with any term contained in this Agreement or
any of the other Loan Documents (other than occurrences described in other
provisions of this SECTION 6.1 for which a different grace or cure period is
specified, or for which no cure period is specified and which constitute
immediate Events of Default) and such default is not remedied or waived within
thirty (30) days after the earlier of (1) receipt by Borrower Representative of
notice from Agent or Requisite Lenders of such default or (2) knowledge of any
Borrower of such default; or

          (f)     INVOLUNTARY BANKRUPTCY; APPOINTMENT OF RECEIVER, ETC. (1) A
court enters a decree or order for relief with respect to any Credit Party
(other than an Immaterial Credit Party) in an involuntary case or proceeding
under the Bankruptcy Code, which decree or order is not stayed or other similar
relief is not granted under any applicable federal or state or other law; or (2)
the continuance of any of the following events for sixty (60) days unless
dismissed, bonded or discharged: (a) an involuntary case or proceeding is
commenced against any Credit Party (other than an Immaterial Credit Party),
under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect; or (b) a decree or order of a court for the appointment of
a receiver, interim receiver, receiver and manager, liquidator, sequestrator,
trustee, custodian or other officer having similar powers over any Credit Party
(other than an Immaterial Credit Party), or over all or a substantial part of
its property, is entered; or (c) a receiver, interim receiver, receiver and
manager, trustee or other custodian is appointed without the consent of a Credit
Party (other than an Immaterial Credit Party), for all or a substantial part of
the property of the Credit Party (other than an Immaterial Credit Party); or (3)
there occurs any event with respect to any Credit Party (other than an
Immaterial Credit Party) in any non-US jurisdiction which is analogous with any
of the events described in clause (1) or (2) above; or

          (g)     VOLUNTARY BANKRUPTCY; APPOINTMENT OF RECEIVER, ETC. (1) any
Credit Party (other than an Immaterial Credit Party) commences a voluntary case
or proceeding under the Bankruptcy Code, or consents to the entry of an order
for relief in an involuntary case or proceeding or to the conversion of an
involuntary case or proceeding to a voluntary case or proceeding under any such
law or consents to the appointment of or taking possession by a receiver,
interim receiver, receiver and manager, trustee or other custodian

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for all or a substantial part of its property; or (2) any Credit Party (other
than an Immaterial Credit Party) makes any assignment for the benefit of
creditors; or (3) the Board of Directors or Stockholders of any Credit Party
(other than an Immaterial Credit Party) adopts any resolution or otherwise
authorizes action to approve any of the actions referred to in this SECTION
6.1(g); or (4) there occurs any event with respect to any Credit Party (other
than an Immaterial Credit Party) in any non-US jurisdiction which is analogous
with any of the events described in clause (1) or (2) or (3) above; or

          (h)     JUDGMENT AND ATTACHMENTS. Any money judgment (other than those
described elsewhere in this SECTION 6.1) involving (1) an amount in any
individual case in excess of the Dollar Equivalent of US$1,000,000 or (2) an
amount in the aggregate at any time in excess of Dollar Equivalent of
US$2,500,000 (in either case to the extent not adequately covered by insurance)
is entered or filed against one or more of the Credit Parties or any of their
respective assets and remains undischarged, unvacated, unbonded or unstayed for
a period of thirty (30) days or in any event later than five (5) Business Days
prior to the date of any proposed sale of assets related to such judgment with a
fair market or book value in excess of the Dollar Equivalent of US$500,000; or

          (i)     DISSOLUTION. Any order, judgment or decree is entered against
any Credit Party decreeing the dissolution, winding up or split up of such
Credit Party that is not permitted hereunder and such order remains
undischarged, unvacated, unbonded or unstayed for a period in excess of fifteen
(15) days; or

          (j)     SOLVENCY. Any Credit Party (other than an Immaterial Credit
Party) admits in writing its inability to pay its debts as they become due; or

          (k)     INVALIDITY OF LOAN DOCUMENTS. Any of the Loan Documents (or
any of the Liens granted thereunder, as applicable, to Agent on behalf of
Lenders) for any reason, other than a partial or full release in accordance with
the terms thereof, ceases to be in full force and effect (or with respect to
Liens, ceases to be perfected) or is declared to be null and void (and, if such
invalidity is such so as to be amenable to cure without disadvantaging the
position of the Lenders thereunder, the Borrowers shall have failed to cure such
invalidity within thirty (30) days after notice from the Agent), or any Credit
Party denies that it has any further liability under any Loan Documents to which
it is party, or gives notice to such effect (except as such Loan Documents may
be terminated or no longer in force and effect in accordance with the terms
thereof); or

          (l)     DAMAGE; CASUALTY. Any event occurs, whether or not insured or
insurable, as a result of which revenue-producing activities cease or are
substantially curtailed at any facility of any Credit Party generating more than
10% of the EBITDA of Ultimate Holdings, Borrowers and their Subsidiaries for the
Fiscal Year preceding such event and such cessation or curtailment continues for
more than thirty (30) consecutive days; or

          (m)     BUSINESS ACTIVITIES. (1) Ultimate Holdings engages in any type
of business activity other than the ownership of Stock of Holdings and
performance of its

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obligations under the Related Transaction Documents to which it is a party and
activities reasonably related thereto in its capacity as a passive holding
company, (2) Holdings engages in any type of business activity other than the
ownership of Stock of US SportRack Holdings, Valley US Borrower and European US
Holdings and activities reasonably related thereto in its capacity as a passive
holding company, (3) US SportRack Holdings engages in any type of business
activity other than the ownership of Stock of SportRack US Borrower and
activities reasonably related thereto in its capacity as a passive holding
company, (4) European US Holdings engages in any type of business activity other
than the ownership of Stock of European First Tier Dutch Holdings and activities
reasonably related thereto in its capacity as a passive holding company, (5)
European First Tier Dutch Holdings engages in any type of business activity
other than the ownership of Stock of European Second Tier Dutch Holdings prior
to the European Mergers, ownership of Stock of European Borrower after the
European Mergers, and activities reasonably related thereto in its capacity as a
passive holding company, or (6) prior to the European Mergers, European Second
Tier Dutch Holdings engages in any type of business activity other than the
ownership of Stock of European Borrower or ownership of Stock of CHAAS Holdings
II B.V.; or

          (n)     CHANGE OF CONTROL. A Change of Control occurs; or

          (o)     SUBORDINATED INDEBTEDNESS. The failure of any Credit Party to
comply with the terms of any subordination or intercreditor agreement or any
subordination provisions of any note or other document running to the benefit of
Agent or Lenders, or if any such terms or provisions become null and void or any
Credit Party denies further liability under any such terms or provisions or
provides notice to that effect.

          Section 6.2   SUSPENSION OR TERMINATION OF COMMITMENTS.

          Upon the occurrence of any Event of Default, Agent may, and at the
request of Requisite Revolving Lenders Agent shall, upon notice (provided that
no such notice is required if any Event of Default described in SECTION 6.1(f)
or 6.1(g) is in existence), immediately suspend or terminate all or any portion
of Lenders' obligations to make additional Loans or issue or cause to be issued
Letters of Credit under the Revolving Loan Commitment.

          Section 6.3   ACCELERATION AND OTHER REMEDIES.

          Upon the occurrence of any Event of Default described in SECTION
6.1(f) or 6.1(g), the Commitments shall be immediately terminated and all of the
Obligations, including the Revolving Loans, shall automatically become
immediately due and payable, without presentment, demand, protest, notice of
intent to accelerate, notice of acceleration or other requirements of any kind,
all of which are hereby expressly waived (including for purposes of SECTION 10)
by Borrowers, and the Commitments shall thereupon terminate. Upon the occurrence
and during the continuance of any other Event of Default, Agent may, and at the
request of the Requisite Lenders, Agent shall, by written notice to Borrower
Representative (a) reduce the aggregate amount of the Commitments from time to
time, (b) declare all of the Loans and all other Obligations, all of the US
Loans and all other

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Obligations relating thereto and/or all of the European Loans and all other
European Obligations to be, and the same shall forthwith become, immediately due
and payable together with accrued interest thereon, (c) terminate all or any
portion of the obligations of Agent, L/C Issuers and Lenders to make Revolving
Credit Advances and issue Letters of Credit, (d) demand that Borrowers
immediately deliver cash to Agent for the benefit of L/C Issuers (and Borrower
shall then immediately so deliver) in an amount equal to 105% of the aggregate
outstanding Letter of Credit Obligations and (e) exercise any other remedies
which may be available under the Loan Documents or applicable law. Upon (i) the
acceleration of any of the Loans (so long as such acceleration has not been
withdrawn or rescinded) pursuant to this SECTION 6.3, or (ii) the occurrence of
an Event of Default under SECTION 6.1(a) resulting from the Loans and other
Obligations not being repaid in full on the US Commitment Termination Date, each
Lender, acting through the Agent, shall have the right, but not the obligation,
to exercise a one time only right to cause all or any portion of such Lender's
interest (direct or by way of participation) in the then outstanding European
Loans (and the European Revolving Loan Commitment) owing to such European Lender
to be denominated in Dollars beginning on the date of the occurrence of such
acceleration or Event of Default (the "CONVERSION DATE"), and to be payable in
Dollars thereafter. The Agent may exercise such right by giving the Borrower
Representative notice of such election and the portion of such Loans that Agent
wishes to denominate in Dollars. The conversion of a Euro-denominated Loan into
a Dollar-denominated loan pursuant to the two preceding sentences shall be at
the Exchange Rate in effect as of the Conversion Date. Borrowers hereby grant to
Agent, for the benefit of L/C Issuers and each Lender with a participation in
any Letters of Credit then outstanding, a security interest in such cash
collateral to secure all of the Letter of Credit Obligations. Any such cash
collateral shall be made available by Agent to L/C Issuers to reimburse L/C
Issuers for payments of drafts drawn under such Letters of Credit and any Fees,
Charges and expenses of L/C Issuers with respect to such Letters of Credit and
the unused portion thereof, after all such Letters of Credit shall have expired
or been fully drawn upon, shall be applied to repay any other Obligations. After
all such Letters of Credit shall have expired or been fully drawn upon and all
Obligations shall have been satisfied and paid in full, the balance, if any, of
such cash collateral shall be returned to Borrowers. Borrowers shall from time
to time execute and deliver to Agent such further documents and instruments as
Agent may request with respect to such cash collateral.

          Section 6.4   PERFORMANCE BY AGENT.

          During the continuance of an Event of Default and upon notice by Agent
to Borrower Representative, if any Credit Party shall fail to perform any
covenant, duty or agreement contained in any of the Loan Documents, Agent may
perform or attempt to perform such covenant, duty or agreement on behalf of such
Credit Party after the expiration of any cure or grace periods set forth herein.
In such event, such Credit Party shall, at the request of Agent, promptly pay
any amount reasonably expended by Agent in such performance or attempted
performance to Agent, together with interest thereon at the highest rate of
interest in effect upon the occurrence of an Event of Default as specified in
SECTION 1.2(e) from the date of such expenditure until paid. Notwithstanding the
foregoing, it is expressly agreed that Agent shall not have any liability or
responsibility for the

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performance of any obligation of any Credit Party under this Agreement or any
other Loan Document.

          Section 6.5   APPLICATION OF PROCEEDS/LENDER RISK ALLOCATION
AGREEMENT.

          Notwithstanding anything to the contrary contained in this Agreement,
upon the occurrence and during the continuance of an Event of Default,

          (a)     Borrowers irrevocably waive the right to direct the
application of any and all payments at any time or times thereafter received by
Agent from or on behalf of Borrowers, and Agent shall have the continuing and
exclusive right (to the extent permitted by mandatory provisions of applicable
law) to apply and to reapply any and all payments received at any time or times
after the occurrence and during the continuance of an Event of Default against
the Obligations in such manner as Agent may deem advisable notwithstanding any
previous application by Agent; provided that (i) payments by the European
Borrower shall be applied to the European Obligations and proceeds of Collateral
shall only be applied to the Obligations that are secured by such Collateral (it
being understood that this proviso does not in any way limit the provisions of
the Lender Risk Allocation Agreement) and (ii) such payments shall only be
applied to Obligations then due (whether such Obligations are then due by
acceleration or otherwise) and any balance remaining shall be delivered to
Borrowers or to whomever may be lawfully entitled to receive such balance or as
a court of competent jurisdiction may direct;

          (b)     Subject to clause (a) above, in the absence of a specific
determination by Agent with respect thereto, the proceeds of any sale of, or
other realization upon, all or any part of the Collateral granted by a US Credit
Party (or with respect to Stock pledged pursuant to a Pledge Agreement, all or
any part of such Stock which is issued by a US Credit Party or, after
application as provided in clause (c) below, which is issued by a Non-US Credit
Party to the extent such Pledge Agreement secures the US Loans) shall be (to the
extent permitted by mandatory provisions of applicable law) applied to
Obligations then due (whether such Obligations are then due by acceleration or
otherwise): FIRST, to all Fees, costs and expenses incurred by or owing to Agent
and any Lender with respect to this Agreement, the other Loan Documents or the
Collateral; SECOND, to accrued and unpaid interest on the Obligations pertaining
to the US Loans (including any interest which but for the provisions of the
Bankruptcy Code, would have accrued on such amounts); THIRD, to the principal
amount of the Obligations outstanding pertaining to the US Loans; FOURTH, to
accrued and unpaid interest on the Obligations pertaining to the European Loans
(including any interest which but for the provisions of the Bankruptcy Code,
would have accrued on such amounts); FIFTH, to the principal amount of the
Obligations outstanding pertaining to the European Loans; sixth, to any other
Obligations of US Borrowers owing to Agent or any US Lender under any Loan
Document; and SEVENTH, to any other Obligations of European Borrower owing to
Agent or any European Lender under any Loan Document; and

          (c)     Subject to clause (a) above, in the absence of a specific
determination by Agent with respect thereto, the proceeds of any sale of, or
other realization upon, all or any part of the Collateral granted by a Non-US
Credit Party (or with respect to Stock pledged

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pursuant to a Pledge Agreement, all or any part of such Stock which is issued by
a Non-US Credit Party) shall be (to the extent permitted by mandatory provisions
of applicable law) applied to Obligations then due (whether such Obligations are
then due by acceleration or otherwise): FIRST, to all Fees, costs and expenses
incurred by or owing to Agent and any Lender with respect to this Agreement, the
other Loan Documents or the Collateral; SECOND, to accrued and unpaid interest
on the Obligations pertaining to the European Loans (including any interest
which but for the provisions of the Bankruptcy Code, would have accrued on such
amounts); third, to the principal amount of the Obligations outstanding
pertaining to the European Loans; and FOURTH, to any other European Obligations
owing to Agent or any Lender under any Loan Document.

In the case of each of clause (b) and (c) above, (i) any balance remaining shall
be delivered to Borrowers or to whomever may be lawfully entitled to receive
such balance or as a court of competent jurisdiction may direct and (ii) solely
as among the Lenders, such proceeds shall be allocated among the Lenders as
provided in the Lender Risk Allocation Agreement.

                                    SECTION 7
                               CONDITIONS TO LOANS

          The obligations of Lenders and L/C Issuers to make Loans and to issue
or cause to be issued Letters of Credit are subject to satisfaction of all of
the applicable conditions set forth below.

          Section 7.1   CONDITIONS TO INITIAL LOANS.

          The obligations of Lenders and L/C Issuers to make the initial Loans
and to issue or cause to be issued Letters of Credit on the Closing Date are, in
addition to the conditions precedent specified in SECTION 7.2, subject to the
delivery of all documents listed on, the taking of all actions set forth on and
the satisfaction of all other conditions precedent listed in the Closing
Checklist attached hereto as ANNEX C, all in form and substance, or in a manner,
satisfactory to Agent and Lenders.

          Section 7.2   CONDITIONS TO ALL LOANS.

          Except as otherwise expressly provided herein, no Lender or L/C Issuer
shall be obligated to fund any Advance or incur any Letter of Credit Obligation,
if, as of the date thereof (the "FUNDING DATE"):

          (a)     any representation or warranty by any Credit Party contained
herein or in any other Loan Document is untrue or incorrect in any material
respect as of such date, except to the extent that such representation or
warranty expressly relates to an earlier date, and Agent or Requisite Revolving
Lenders have determined not to make such Advance or incur such Letter of Credit
Obligation as a result of the fact that such warranty or representation is
untrue or incorrect;

          (b)     any Default or Event of Default has occurred and is continuing
or would result after giving effect to any Advance (or the incurrence of any
Letter of Credit

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Obligation), and Agent or Requisite Revolving Lenders shall have determined not
to make any Advance or incur any Letter of Credit Obligation as a result of that
Default or Event of Default;

          (c)     since December 31, 2002 there have been events or changes in
facts or circumstances affecting any Credit Party or any of its Subsidiaries
which individually or in the aggregate have had or could reasonably be expected
to have a Material Adverse Effect and Agent or Requisite Revolving Lenders have
determined not to make such Advance or incur such Letter of Credit Obligation as
a result of such events or changes;

          (d)     after giving effect to any US Advance (or the incurrence of
any US Letter of Credit Obligations), the outstanding amount of the US Revolving
Loan would exceed remaining US Borrowing Availability (except as provided in
SECTION 1.1(c)(ii)); or

          (e)     after giving effect to any European Advance (or the incurrence
of any European Letter of Credit Obligations), the outstanding amount of the
European Revolving Loan would exceed remaining European Borrowing Availability
(except as provided in SECTION 1.1(d)(ii)).

The request and acceptance by any Borrower of the proceeds of any Advance, the
incurrence of any Letter of Credit Obligations or the conversion or continuation
of any Loan into, or as, a LIBOR Loan shall be deemed to constitute, as of the
date thereof, (i) a representation and warranty by Borrowers that the conditions
in this SECTION 7.2 have been satisfied and (ii) a reaffirmation by US Borrowers
of the cross guaranty provisions set forth in SECTION 10 and of the granting and
continuance of Agent's Liens, on behalf of itself and Lenders, pursuant to the
Collateral Documents.

                                    SECTION 8
                 ASSIGNMENT AND PARTICIPATION/AGENCY PROVISIONS

          Section 8.1   ASSIGNMENT AND PARTICIPATIONS.

          (a)     Subject to the terms of this SECTION 8.1, any Lender may make
an assignment to a Person of, or sale of participations in, at any time or
times, the Loan Documents, Loans, Letter of Credit Obligations and any
Commitment or any portion thereof or interest therein, including any Lender's
rights, title, interests, remedies, powers or duties thereunder. Any assignment
by a Lender shall: (i) require the consent of Agent (which consent shall not be
unreasonably withheld or delayed with respect to a Qualified Assignee) and the
execution of an assignment agreement (an "ASSIGNMENT AGREEMENT" substantially in
the form attached hereto as EXHIBIT 8.1 and otherwise in form and substance
reasonably satisfactory to, and acknowledged by, Agent); (ii) be conditioned on
such assignee Lender representing to the assigning Lender and Agent that it is
purchasing the applicable Loans to be assigned to it for its own account, for
investment purposes and not with a view to the distribution thereof; (iii) other
than with respect to assignments to Affiliates covered by clause (z) below,
after giving effect to any such partial assignment, the assignee Lender shall
have Commitments in an amount at least equal to (x) with respect to the US
Loans,

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<Page>

US$5,000,000 and the assigning Lender shall have retained Commitments in an
amount at least equal to US$5,000,000 and (y) with respect to the European
Loans, 5,000,000 Euros and the assigning Lender shall have retained Commitments
in an amount at least equal to 5,000,000 Euros; (iv) require a payment to Agent
of an assignment fee of US$3,500; (v) include an assignment of such Lender's
rights and obligations under the Lender Risk Allocation Agreement in the manner
provided in the Assignment Agreement; (vi) with respect to any assignment of any
European Loans, the assignee Lender shall make the representations and
warranties required by it under SECTION 1.11, (vii) shall execute and deliver to
Agent an Accession Deed to that certain Intercreditor Agreement dated as of the
Closing Date among European Borrower, Agent, European Lenders and each Non-US
Subsidiary incorporated in Europe and (viii) so long as no Event of Default has
occurred and is continuing, require the consent of Borrower Representative,
which shall not be unreasonably withheld or delayed and shall be deemed granted
if not objected to within three (3) Business Days following notice thereof to
Borrower Representative. Notwithstanding the above, Agent may in its sole and
absolute discretion prohibit any assignment by a Lender to a Person or Persons
that are not Qualified Assignees. In the case of an assignment by a Lender under
this SECTION 8.1, the assignee shall have, to the extent of such assignment, the
same rights, benefits and obligations as all other Lenders hereunder. The
assigning Lender shall be relieved of its obligations hereunder with respect to
its Commitments or assigned portion thereof from and after the date of such
assignment. Borrowers hereby acknowledge and agree that any assignment shall
give rise to a direct obligation of Borrowers to the assignee and that the
assignee shall be considered to be a "Lender." In all instances, each Lender's
liability to make Loans hereunder shall be several and not joint and shall be
limited to such Lender's Pro Rata Share of the applicable Commitment. In the
event Agent or any Lender assigns or otherwise transfers all or any part of the
Obligations, Agent or any such Lender shall so notify Borrowers and Borrowers
shall, upon the request of Agent or such Lender, execute new Notes in exchange
for the Notes, if any, being assigned. Notwithstanding the foregoing provisions
of this SECTION 8.1(a), (w) any Lender may at any time pledge the Obligations
held by it and such Lender's rights under this Agreement and the other Loan
Documents to a Federal Reserve Bank, (x) any Lender may assign the Obligations
held by it and such Lender's rights under this Agreement and the other Loan
Documents to an investment fund managed by such Lender, (y) any Lender that is
an investment fund may assign the Obligations held by it and such Lender's
rights under this Agreement and the other Loan Documents to another investment
fund managed by the same investment advisor or pledge such Obligations and
rights to trustee for the benefit of its investors and (z) any Lender may assign
the Obligations to an Affiliate of such Lender or to a Person that is a Lender
prior to the date of such assignment.

          (b)     Any participation by a Lender of all or any part of its
Commitments shall be made with the understanding that all amounts payable by
Borrowers hereunder shall be determined as if that Lender had not sold such
participation, and that the holder of any such participation shall not be
entitled to require such Lender to take or omit to take any action hereunder
except actions directly affecting (i) any reduction in the principal amount of,
or interest rate or Fees payable with respect to, any Loan in which such holder
participates, (ii) any extension of the scheduled amortization of the principal
amount of any

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<Page>

Loan in which such holder participates or the final maturity date thereof, and
(iii) any release of all or substantially all of the Collateral (other than in
accordance with the terms of this Agreement, the Collateral Documents or the
other Loan Documents). Solely for purposes of SECTIONS 1.8, 1.9, 8.3 and 9.1,
Borrowers acknowledge and agree that a participation shall give rise to a direct
obligation of Borrowers to the participant and the participant shall be
considered to be a "Lender." Except as set forth in the preceding sentence no
Borrower or any other Credit Party shall have any obligation or duty to any
participant. Neither Agent nor any Lender (other than the Lender selling a
participation) shall have any duty to any participant and may continue to deal
solely with the Lender selling a participation as if no such sale had occurred.

          (c)     Except as expressly provided in this SECTION 8.1, no Lender
shall, as between Borrowers and that Lender, or Agent and that Lender, be
relieved of any of its obligations hereunder as a result of any sale,
assignment, transfer or negotiation of, or granting of participation in, all or
any part of the Loans, the Notes or other Obligations owed to such Lender.

          (d)     Each Credit Party shall assist each Lender permitted to sell
assignments or participations under this SECTION 8.1 as required to enable the
assigning or selling Lender to effect any such assignment or participation,
including the execution and delivery of any and all agreements, notes and other
documents and instruments as shall be reasonably requested and the preparation
of disclosure documents and private placement memorandum. Agent shall maintain,
on behalf of Borrowers, in its offices located at 500 West Monroe Street,
Chicago Illinois 60661, a "register" for recording the name, address, commitment
and Loans owing to each Lender. The entries in such register shall be
presumptive evidence of the amounts due and owing to each Lender in the absence
of manifest error. Borrowers, Agent and each Lender shall treat each Person
whose name is recorded in such register pursuant to the terms hereof as a Lender
for all purposes of this Agreement. The register described herein shall be
available for inspection by Borrower Representative and any Lender, at any
reasonable time upon reasonable prior notice.

          (e)     A Lender may furnish any information concerning Credit Parties
in the possession of such Lender from time to time to assignees and participants
(including prospective assignees and participants); provided that such Lender
shall obtain from assignees or participants confidentiality covenants
substantially equivalent to those contained in SECTION 9.13.

          (f)     So long as no Event of Default has occurred and is continuing,
no Lender shall assign or sell participations in any portion of its Loans or
Commitments to a potential Lender or participant, if, as of the date of the
proposed assignment or sale, the assignee Lender or participant would be subject
to capital adequacy or similar requirements under SECTION 1.8(a), increased
costs or an inability to fund LIBOR Loans under SECTION 1.8(b), or withholding
taxes in accordance with SECTION 1.9.

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<Page>

          Section 8.2   AGENT.

          (a)     APPOINTMENT. Each Lender hereby designates and appoints GE
Capital as its Agent under this Agreement and the other Loan Documents
(including as trustee or pledgee under Collateral Documents, as applicable), and
each Lender hereby irrevocably authorizes Agent to execute and deliver the
Collateral Documents and to take such action or to refrain from taking such
action on its behalf under the provisions of this Agreement and the other Loan
Documents and to exercise such powers as are set forth herein or therein,
together with such other powers as are reasonably incidental thereto.
Additionally each Lender hereby designates GE Capital as "Senior Agent" under
the Subordinated Seller PIK Notes. Agent is authorized and empowered to amend,
modify, or waive any provisions of this Agreement or the other Loan Documents on
behalf of Lenders subject to the requirement that certain of Lenders' consent be
obtained in certain instances as provided in this SECTION 8.2 and SECTION 9.2.
The provisions of this SECTION 8.2 are solely for the benefit of Agent and
Lenders and neither Borrowers nor any other Credit Party shall have any rights
as a third party beneficiary of any of the provisions hereof. In performing its
functions and duties under this Agreement, Agent shall act solely as agent of
Lenders and does not assume and shall not be deemed to have assumed any
obligation toward or relationship of agency or trust with or for Borrowers or
any other Credit Party. Agent may perform any of its duties hereunder, or under
the Loan Documents, by or through its agents or employees.

          (b)     NATURE OF DUTIES. The duties of Agent shall be mechanical and
administrative in nature. Agent shall not have by reason of this Agreement a
fiduciary relationship in respect of any Lender. Nothing in this Agreement or
any of the Loan Documents, express or implied, is intended to or shall be
construed to impose upon Agent any obligations in respect of this Agreement or
any of the Loan Documents except as expressly set forth herein or therein. Each
Lender shall make its own independent investigation of the financial condition
and affairs of each Credit Party in connection with the extension of credit
hereunder and shall make its own appraisal of the creditworthiness of each
Credit Party, and Agent shall have no duty or responsibility, either initially
or on a continuing basis, to provide any Lender with any credit or other
information with respect thereto (other than as expressly required herein). If
Agent seeks the consent or approval of any Lenders to the taking or refraining
from taking any action hereunder, then Agent shall send notice thereof to each
Lender. Agent shall promptly notify each Lender any time that the Requisite
Lenders, Requisite Revolving Lenders or Supermajority Revolving Lenders have
instructed Agent to act or refrain from acting pursuant hereto.

          (c)     RIGHTS, EXCULPATION, ETC. Neither Agent nor any of its
officers, directors, employees or agents shall be liable to any Lender for any
action taken or omitted by them hereunder or under any of the Loan Documents, or
in connection herewith or therewith, except that Agent shall be liable to the
extent of its own gross negligence or willful misconduct as determined by a
final non-appealable order by a court of competent jurisdiction. Agent shall not
be liable for any apportionment or distribution of payments made by it in good
faith and if any such apportionment or distribution is subsequently determined
to have been made in error the sole recourse of any Lender to whom payment was
due but not made, shall be to recover from other Lenders any payment in excess
of the amount to

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<Page>

which they are determined to be entitled (and such other Lenders hereby agree to
return to such Lender any such erroneous payments received by them). In no event
shall Agent be liable for punitive, special, consequential, incidental,
exemplary or other similar damages. In performing its functions and duties
hereunder, Agent shall exercise the same care which it would in dealing with
loans for its own account, but neither Agent nor any of its agents or
representatives shall be responsible to any Lender for any recitals, statements,
representations or warranties herein or for the execution, effectiveness,
genuineness, validity, enforceability, collectibility, or sufficiency of this
Agreement or any of the Loan Documents or the transactions contemplated thereby,
or for the financial condition of any Credit Party. Agent shall not be required
to make any inquiry concerning either the performance or observance of any of
the terms, provisions or conditions of this Agreement or any of the Loan
Documents or the financial condition of any Credit Party, or the existence or
possible existence of any Default or Event of Default. Agent may at any time
request instructions from Requisite Lenders, Requisite Revolving Lenders,
Supermajority Revolving Lenders or all affected Lenders with respect to any
actions or approvals which by the terms of this Agreement or of any of the Loan
Documents Agent is permitted or required to take or to grant. If such
instructions are promptly requested, Agent shall be absolutely entitled to
refrain from taking any action or to withhold any approval and shall not be
under any liability whatsoever to any Person for refraining from any action or
withholding any approval under any of the Loan Documents until it shall have
received such instructions from the Requisite Lenders, Requisite Revolving
Lenders, Supermajority Revolving Lenders or such other portion of the Lenders as
shall be prescribed by this Agreement. Without limiting the foregoing, no Lender
shall have any right of action whatsoever against Agent as a result of Agent
acting or refraining from acting under this Agreement or any of the other Loan
Documents in accordance with the instructions of Requisite Lenders, Requisite
Revolving Lenders, Supermajority Revolving Lenders or all affected Lenders, as
applicable; and, notwithstanding the instructions of Requisite Lenders,
Requisite Revolving Lenders, Supermajority Revolving Lenders or all affected
Lenders, as applicable, Agent shall have no obligation to take any action if it
believes, in good faith, that such action is deemed to be illegal by Agent or
exposes Agent to any liability for which it has not received satisfactory
indemnification in accordance with SECTION 8.2(e).

          (d)     RELIANCE. Agent shall be entitled to rely, and shall be fully
protected in relying, upon any written or oral notices, statements,
certificates, orders or other documents or any telephone message or other
communication (including any writing, telex, fax or telegram) believed by it in
good faith to be genuine and correct and to have been signed, sent or made by
the proper Person, and with respect to all matters pertaining to this Agreement
or any of the Loan Documents and its duties hereunder or thereunder. Agent shall
be entitled to rely upon the advice of legal counsel, independent accountants,
and other experts selected by Agent in its sole discretion.

          (e)     INDEMNIFICATION. Lenders will reimburse and indemnify Agent
for and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses (including, without
limitation, attorneys' fees and expenses), advances or disbursements of any kind
or nature whatsoever which may be imposed on, incurred by, or

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<Page>

asserted against Agent in any way relating to or arising out of this Agreement
or any of the Loan Documents or any action taken or omitted by Agent under this
Agreement or any of the Loan Documents, in proportion to each Lender's Pro Rata
Share, but only to the extent that any of the foregoing is not reimbursed by
Borrowers; PROVIDED, HOWEVER, that no Lender shall be liable for any portion of
such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses, advances or disbursements to the extent resulting from
Agent's gross negligence or willful misconduct as determined by a final
non-appealable order by a court of competent jurisdiction. If any indemnity
furnished to Agent for any purpose shall, in the opinion of Agent, be
insufficient or become impaired, Agent may call for additional indemnity and
cease, or not commence, to do the acts indemnified against even if so directed
by the Requisite Lenders, Requisite Revolving Lenders, Supermajority Revolving
Lenders or such other portion of the Lenders as shall be prescribed by this
Agreement until such additional indemnity is furnished. The obligations of
Lenders under this SECTION 8.2(e) shall survive the payment in full of the
Obligations and the termination of this Agreement.

          (f)     GE CAPITAL INDIVIDUALLY. With respect to its Commitments
hereunder, GE Capital shall have and may exercise the same rights and powers
hereunder and is subject to the same obligations and liabilities as and to the
extent set forth herein for any other Lender. The terms "Lenders," "Requisite
Lenders," "Requisite Revolving Lenders," "Supermajority Revolving Lenders" or
any similar terms shall, unless the context clearly otherwise indicates, include
GE Capital in its individual capacity as a Lender or one of the Requisite
Lenders, Requisite Revolving Lenders or Supermajority Revolving Lenders. GE
Capital, either directly or through strategic affiliations, may lend money to,
acquire equity or other ownership interests in, provide advisory services to and
generally engage in any kind of banking, trust or other business with any Credit
Party as if it were not acting as Agent pursuant hereto and without any duty to
account therefor to Lenders. GE Capital, either directly or through strategic
affiliations, may accept fees and other consideration from any Credit Party for
services in connection with this Agreement or otherwise without having to
account for the same to Lenders.

          (g)     SUCCESSOR AGENT.

          (i)     RESIGNATION. Agent may resign from the performance of
     all its agency functions and duties hereunder at any time by
     giving at least thirty (30) Business Days' prior written notice
     to Borrower Representative and Lenders. Such resignation shall
     take effect upon the acceptance by a successor Agent of
     appointment pursuant to clause (ii) below or as otherwise
     provided in clause (ii) below.

          (ii)    APPOINTMENT OF SUCCESSOR. Upon any such notice of
     resignation pursuant to clause (i) above, Requisite Lenders shall
     appoint a successor Agent which, unless an Event of Default has
     occurred and is continuing, shall be reasonably acceptable to
     Borrowers. If a successor Agent shall not have been so appointed
     within the thirty (30) Business Day period referred to in clause
     (i) above, the retiring Agent, upon notice to Borrower
     Representative, shall then

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<Page>

     appoint a successor Agent who shall serve as Agent until such time, if any,
     as Requisite Lenders appoint a successor Agent as provided above.

          (iii)   SUCCESSOR AGENT. Upon the acceptance of any
     appointment as Agent under the Loan Documents by a successor
     Agent, such successor Agent shall thereupon succeed to and become
     vested with all the rights, powers, privileges and duties of the
     retiring Agent, and the retiring Agent shall be discharged from
     its duties and obligations under the Loan Documents. After any
     retiring Agent's resignation as Agent, the provisions of this
     SECTION 8.2 shall continue to inure to its benefit as to any
     actions taken or omitted to be taken by it in its capacity as
     Agent.

          (h)     COLLATERAL MATTERS.

          (i)     RELEASE OF COLLATERAL. Lenders hereby irrevocably
     authorize Agent, at its option and in its discretion, to release
     any Lien granted to or held by Agent upon any Collateral (x) upon
     termination of the Commitments and payment and satisfaction of
     all Obligations (other than contingent indemnification
     obligations to the extent no claims giving rise thereto have been
     asserted) or (y) constituting property being sold or disposed of
     if Borrowers (or any of them) certify to Agent that the sale or
     disposition is made in compliance with the provisions of this
     Agreement (and Agent may rely in good faith conclusively on any
     such certificate, without further inquiry).

          (ii)    CONFIRMATION OF AUTHORITY; EXECUTION OF RELEASES.
     Without in any manner limiting Agent's authority to act without
     any specific or further authorization or consent by Lenders (as
     set forth in SECTION 8.2(h)(i)), each Lender agrees to confirm in
     writing, upon request by Agent or Borrower Representative, the
     authority to release any Collateral conferred upon Agent under
     clauses (x) and (y) of SECTION 8.2(h)(i). Upon receipt by Agent
     of any required confirmation from the Requisite Lenders of its
     authority to release any particular item or types of Collateral,
     and upon at least ten (10) Business Days' prior written request
     by Borrower Representative, Agent shall (and is hereby
     irrevocably authorized by Lenders to) execute such documents as
     may be necessary to evidence the release of the Liens granted to
     Agent upon such Collateral; PROVIDED, HOWEVER, that (x) Agent
     shall not be required to execute any such document on terms
     which, in Agent's opinion, would expose Agent to liability or
     create any obligation or entail any consequence other than the
     release of such Liens without recourse or warranty, and (y) such
     release shall not in any manner discharge, affect or impair the
     Obligations or any Liens upon (or obligations of any Credit
     Party, in respect of), all interests retained by any Credit
     Party, including the proceeds of any sale, all of which shall
     continue to constitute part of the Collateral.

          (iii)   ABSENCE OF DUTY. Agent shall have no obligation
     whatsoever to any Lender or any other Person to assure that the
     property covered by the

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<Page>

     Collateral Documents exists or is owned by Borrowers or any other
     Credit Party or is cared for, protected or insured or has been
     encumbered or that the Liens granted to Agent have been properly
     or sufficiently or lawfully created, perfected, protected or
     enforced or are entitled to any particular priority, or to
     exercise at all or in any particular manner or under any duty of
     care, disclosure or fidelity, or to continue exercising, any of
     the rights, authorities and powers granted or available to Agent
     in this SECTION 8.2(h) or in any of the Loan Documents, it being
     understood and agreed that in respect of the property covered by
     the Collateral Documents or any act, omission or event related
     thereto, Agent may act in any manner it may deem appropriate, in
     its discretion, given Agent's own interest in property covered by
     the Collateral Documents as one of the Lenders and that Agent
     shall have no duty or liability whatsoever to any of the other
     Lenders, PROVIDED that Agent shall exercise the same care which
     it would in dealing with loans for its own account.

          (i)     AGENCY FOR PERFECTION.

          (i)     GENERAL PROVISIONS. Agent and each Lender hereby appoint
     each other Lender as agent for the purpose of perfecting Agent's
     security interest in assets which, in accordance with the Code or
     any other applicable law, in any applicable jurisdiction, can be
     perfected by possession or control. Should any Lender (other than
     Agent) obtain possession or control of any such assets, such
     Lender shall notify Agent thereof, and, promptly upon Agent's
     request therefor, shall deliver such assets to Agent or in
     accordance with Agent's instructions or transfer control to Agent
     in accordance with Agent's instructions. Each Lender agrees that
     it will not have any right individually to enforce or seek to
     enforce any Collateral Document or to realize upon any collateral
     security for the Loans unless instructed to do so by Agent in
     writing, it being understood and agreed that such rights and
     remedies may be exercised only by Agent.

          (ii)    QUEBEC SPECIAL PROVISIONS. Without limiting any of the
     foregoing provisions in favor of Agent, for the purposes of
     holding any security granted by any Credit Party pursuant to the
     laws of the Province of Quebec, including any deed of hypothec,
     debenture, bond or other title of indebtedness and debenture or
     bond pledge agreements, Agent is hereby appointed to act as the
     Person holding an irrevocable power of attorney (fonde de
     pouvoir) pursuant to article 2692 of the CIVIL CODE OF QUEBEC to
     act on behalf of each present and future Lender. By executing an
     Assignment Agreement, each future Lender shall be deemed to
     ratify the power of attorney (fonde de pouvoir) granted herein.
     Agent agrees to act in such capacity. Each party hereto agrees
     that, notwithstanding Section 32 of AN ACT RESPECTING THE SPECIAL
     POWERS OF LEGAL PERSONS (QUEBEC), Agent may, as the Person
     holding the power of attorney of the Lenders, acquire and or be
     the pledgee of any debentures, bonds or other titles of
     indebtedness secured by any hypothec

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<Page>

     granted by any Credit Party to the Agent pursuant to the laws of the
     Province of Quebec.

          (iii)   ITALIAN SPECIAL PROVISIONS. Each of the Lenders hereby
     appoints Agent to be its mandatario con rappresentanza (COMMON
     REPRESENTATIVE) for the purpose of executing any Collateral
     Document which is expressed to be governed by Italian law in the
     name and on behalf of the Lenders, with the power to determine
     and agree any term and condition of such Collateral Document,
     execute any other Loan Document, give or receive any notice and
     take any other action in relation to the creation, perfection,
     maintenance, enforcement and release of the security created
     thereunder in the name and on behalf of the Lenders and
     undertakes to ratify and approve any such action taken in the
     name and on behalf of the Lenders by the Agent acting in such
     capacity.

          (iv)    GERMAN SPECIAL PROVISIONS. Regarding all Collateral
     subject to Collateral Documents governed by German law, Agent
     shall (a) hold and administer such Collateral which is security
     assigned (SICHERUNGSEIGENTUM/SICHERUNGSABTRETUNG) or otherwise
     transferred under a non-accessory security right (NICHT
     AKZESSORISCHE SICHERHEIT) to it as trustee (TREUHANDER) for the
     benefit of the Lenders and (b) administer such Collateral which
     is pledged (VERPFANDUNG) or otherwise transferred to Agent or any
     Lender under an accessory security right (AKZESSORISCHE
     SICHERHEIT). Each Lender hereby authorizes Agent to (x) accept as
     its representative (STELLVERTRETER) any pledge or other creation
     of any accessory right under German law made to such Lender in
     relation to such Collateral and (y) agree to and execute on
     behalf of the Lenders any amendments to any document relating to
     and to effect or confirm any release in relation to any of the
     accessory German securities made in writing or in notarial form.
     Each of the Credit Parties and the Lenders hereby relieves the
     Agent from the restrictions of Section 181 of the German Civil
     Code (BGB) to allow it to perform its duties and obligations as
     Agent hereunder. Each Lender hereby ratifies and approves all
     acts previously done by the Agent on such Lender's behalf. Each
     Lender hereby expressly consents to the declarations of Agent
     made on behalf and in the name of such Lender as future pledgee
     in the agreements relating to Collateral subject to Collateral
     Documents governed by German law that is an accessory security
     right. Waiving Section 418 of the German Civil Code (BURGERLICHES
     GESETZBUCH), the parties to this Agreement agree that any
     security or guarantee created under any such Collateral Document
     shall not be affected by any transfer or assumption of the
     Obligations to, or by, any third party.

          (j)     NOTICE OF DEFAULT. Agent nor any L/C Issuer shall be deemed to
have knowledge or notice of the occurrence of any Default or Event of Default
except with respect to defaults in the payment of principal, interest and Fees
required to be paid to Agent for the account of Lenders, unless Agent or such
L/C Issuer shall have received written notice from

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<Page>

a Lender or Borrower Representative referring to this Agreement, describing such
Default or Event of Default and stating that such notice is a "notice of
default". Agent will use reasonable efforts to notify each Lender of its receipt
of any such notice, unless such notice is with respect to defaults in the
payment of principal, interest and fees, in which case Agent will notify each
Lender of its receipt of such notice. Agent shall take such action with respect
to such Default or Event of Default as may be requested by Requisite Lenders in
accordance with SECTION 6. Unless and until Agent has received any such request,
Agent may (but shall not be obligated to) take such action, or refrain from
taking such action, with respect to such Default or Event of Default as it shall
deem advisable or in the best interests of Lenders.

          (k)     LENDER ACTIONS AGAINST COLLATERAL. Each Lender agrees that it
will not take any action, nor institute any actions or proceedings, with respect
to the Loans, against any Borrower or any Credit Party hereunder or under the
other Loan Documents or against any of the Real Estate encumbered by Mortgages
without the consent of the Required Lenders. With respect to any action by Agent
to enforce the rights and remedies of Agent and the Lenders under this Agreement
and the other Loan Documents, each Lender hereby consents to the jurisdiction of
the court in which such action is maintained, and agrees to deliver its Notes to
Agent to the extent necessary to enforce the rights and remedies of Agent for
the benefit of the Lenders under the Mortgages in accordance with the provisions
hereof.

          Section 8.3   SET OFF AND SHARING OF PAYMENTS.

          In addition to any rights now or hereafter granted under applicable
law and not by way of limitation of any such rights, during the continuance of
any Event of Default to the extent permitted by SECTION 6.5, each Lender has the
right to at any time or from time to time, with reasonably prompt subsequent
notice to Borrower Representative (any prior or contemporaneous notice being
hereby expressly waived) to set off and to appropriate and to apply, but solely
to the extent of the amount of Obligations then due by acceleration or
otherwise, any and all (A) balances held by such Lender at any of its offices
for the account of any Borrower or any of its Subsidiaries (regardless of
whether such balances are then due to any Borrower or its Subsidiaries), and (B)
other property at any time held or owing by such Lender to or for the credit or
for the account of any Borrower or any of its Subsidiaries, against and on
account of any of the Obligations; except that no Lender shall exercise any such
right without the prior written consent of Agent. Any Lender exercising a right
to set off shall purchase for cash (and the other Lenders shall sell) interests
in each of such other Lender's Pro Rata Share of the Obligations as would be
necessary to cause all Lenders to share the amount so set off with each other
Lender in accordance with their respective Pro Rata Shares. Borrowers agree, to
the fullest extent permitted by law, that any Lender may exercise its right to
set off with respect to amounts in excess of its Pro Rata Share of the
Obligations and upon doing so shall deliver such amount so set off to the Agent
for the benefit of all Lenders in accordance with their Pro Rata Shares.

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<Page>

          Section 8.4   DISBURSEMENT OF FUNDS.

          Agent may, on behalf of Lenders, disburse funds (in the applicable
currency) to Borrowers for Loans requested. Each Lender shall reimburse Agent on
demand for all funds disbursed on its behalf by Agent, or if Agent so requests,
each Lender will remit to Agent its Pro Rata Share of any Loan (in the
applicable currency) before Agent disburses same to Borrowers. If Agent elects
to require that each Lender make funds available to Agent prior to a
disbursement by Agent to Borrowers, Agent shall advise each Lender by telephone
or fax of the amount of such Lender's Pro Rata Share of the Loan requested by
Borrower Representative no later than 1:00 p.m. (New York time) on the Funding
Date (or three (3) Business Days prior to the Funding Date with respect to
European Loans) applicable thereto, and each such Lender shall pay Agent such
Lender's Pro Rata Share of such requested Loan, in same day funds (in the
applicable currency), by wire transfer to Agent's account on such Funding Date.
If any Lender fails to pay the amount of its Pro Rata Share within one (1)
Business Day after Agent's demand, Agent shall promptly notify Borrower
Representative, and Borrowers shall immediately repay such amount to Agent. Any
repayment required pursuant to this SECTION 8.4 shall be without premium or
penalty. Nothing in this SECTION 8.4 or elsewhere in this Agreement or the other
Loan Documents, including the provisions of SECTION 8.5, shall be deemed to
require Agent to advance funds on behalf of any Lender or to relieve any Lender
from its obligation to fulfill its commitments hereunder or to prejudice any
rights that Agent or Borrowers may have against any Lender as a result of any
default by such Lender hereunder.

          Section 8.5   DISBURSEMENTS OF ADVANCES; PAYMENT.

          (a)     ADVANCES; PAYMENTS.

          (i)     Agent shall notify Revolving Lenders, promptly after
     receipt of a Notice of Revolving Credit Advance and in any event
     prior to 1:00 p.m. (New York time) on the date such Notice of a
     Revolving Credit Advance is received, by fax, telephone or other
     similar form of transmission. Each Revolving Lender shall make
     the amount of such Lender's Pro Rata Share of such Revolving
     Credit Advance available to Agent in same day funds (in the
     applicable currency) by wire transfer to Agent's account as set
     forth in SECTION 1.1(i) and (j) not later than 3:00 p.m. (New
     York time) on the requested Funding Date in the case of an Index
     Rate Loans and not later than 11:00 a.m. (New York time) on the
     requested Funding Date in the case of a LIBOR Loan. After receipt
     of such wire transfers (or, in the Agent's sole discretion,
     before receipt of such wire transfers), subject to the terms
     hereof, Agent shall make the requested Revolving Credit Advance
     (in the applicable currency) to Borrowers as designated by
     Borrower Representative in the Notice of Revolving Credit
     Advance. All payments by each Revolving Lender shall be made
     without setoff, counterclaim or deduction of any kind.

          (ii)    At least once each calendar week or more frequently at
     Agent's election (each, a "SETTLEMENT DATE"), Agent shall advise
     each Lender by

                                     Annex A
                                     Page 92
<Page>

     telephone or fax of the amount of such Lender's Pro Rata Share of
     principal, interest and Fees paid for the benefit of Lenders with
     respect to each applicable Loan. Provided that each Lender has
     funded all payments and Advances required to be made by it and
     purchased all participations required to be purchased by it under
     this Agreement and the other Loan Documents as of such Settlement
     Date, Agent shall pay (in the applicable currency) to each Lender
     such Lender's Pro Rata Share of principal, interest and Fees paid
     by Borrowers since the previous Settlement Date for the benefit
     of such Lender on the Loans held by it. Such payments shall be
     made by wire transfer to such Lender's account (as specified by
     such Lender in ANNEX E or the applicable Assignment Agreement)
     not later than 2:00 p.m. (New York time) on the next Business Day
     following each Settlement Date. To the extent that any Lender (a
     "NON-FUNDING LENDER") has failed to fund all such payments and
     Advances or failed to fund the purchase of all such
     participations, Agent shall be entitled to set off the funding
     shortfall against that Non-Funding Lender's Pro Rata Share of all
     payments received from Borrowers.

          (b)     AVAILABILITY OF LENDER'S PRO RATA SHARE. Agent may assume that
each Revolving Lender will make its Pro Rata Share of each Revolving Credit
Advance available to Agent on each Funding Date. If such Pro Rata Share is not,
in fact, paid to Agent by such Revolving Lender when due, Agent will be entitled
to recover such amount on demand from such Revolving Lender without setoff,
counterclaim or deduction of any kind. If any Revolving Lender fails to pay the
amount of its Pro Rata Share forthwith upon Agent's demand, Agent shall promptly
notify Borrower Representative and Borrowers shall immediately repay such amount
to Agent. Nothing in this SECTION 8.5(b) or elsewhere in this Agreement or the
other Loan Documents shall be deemed to require Agent to advance funds on behalf
of any Revolving Lender or to relieve any Revolving Lender from its obligation
to fulfill its Commitments hereunder or to prejudice any rights that Borrowers
may have against any Revolving Lender as a result of any default by such
Revolving Lender hereunder. To the extent that Agent advances funds to Borrowers
on behalf of any Revolving Lender and is not reimbursed therefor on the same
Business Day as such Advance is made, Agent shall be entitled to retain for its
account all interest accrued on such Advance until reimbursed by the applicable
Revolving Lender.

          (c)     RETURN OF PAYMENTS.

          (i)     If Agent pays an amount to a Lender under this Agreement
     in the belief or expectation that a related payment has been or
     will be received by Agent from Borrowers and such related payment
     is not received by Agent, then Agent will be entitled to recover
     such amount from such Lender on demand without setoff,
     counterclaim or deduction of any kind.

          (ii)    If Agent determines at any time that any amount
     received by Agent under this Agreement must be returned to any
     Borrower or paid to any other Person pursuant to any insolvency
     law or otherwise, then, notwithstanding any other term or
     condition of this Agreement or any other

                                     Annex A
                                     Page 93
<Page>

     Loan Document, Agent will not be required to distribute any
     portion thereof to any Lender. In addition, each Lender will
     repay to Agent on demand any portion of such amount that Agent
     has distributed to such Lender, together with interest at such
     rate, if any, as Agent is required to pay to any Borrower or such
     other Person, without setoff, counterclaim or deduction of any
     kind.

          (d)     NON-FUNDING LENDERS. The failure of any Non-Funding Lender to
make any Revolving Credit Advance or any payment required by it hereunder on the
date specified therefor shall not relieve any other Lender (each such other
Revolving Lender, an "OTHER LENDER") of its obligations to make such Advance or
payment on such date, but neither any Other Lender nor Agent shall be
responsible for the failure of any Non-Funding Lender to make an Advance or make
any other payment required hereunder. Notwithstanding anything set forth herein
to the contrary, until such failure of any Non-Funding Lender is cured by such
Non-Funding Lender, such Non-Funding Lender shall not (i) have any voting or
consent rights under or with respect to any Loan Document or constitute a
"Lender" or a "Revolving Lender" (or be included in the calculation of
"Requisite Lenders", "Requisite Revolving Lenders" or "Supermajority Revolving
Lenders" hereunder) for any voting or consent rights under or with respect to
any Loan Document or (ii) be entitled to any Fees pertaining to any portion of
such Revolving Credit Advance or payment that it has failed to make.

          (e)     DISSEMINATION OF INFORMATION. Agent shall use reasonable
efforts to provide Lenders with any notice of Default or Event of Default
received by Agent from, or delivered by Agent to, any Credit Party, with notice
of any Event of Default of which Agent has actually become aware and with notice
of any action taken by Agent following any Event of Default; provided, that
Agent shall not be liable to any Lender for any failure to do so.

          (f)     ACTIONS IN CONCERT. Anything in this Agreement to the contrary
notwithstanding, each Lender hereby agrees with each other Lender that no Lender
shall take any action to protect or enforce its rights arising out of this
Agreement or the Notes (including exercising any rights of setoff) without first
obtaining the prior written consent of Agent and Requisite Lenders, it being the
intent of Lenders that any such action to protect or enforce rights under this
Agreement and the Notes shall be taken in concert and at the direction or with
the consent of Agent or Requisite Lenders. Agent is authorized to issue all
notices to be issued by or on behalf of the Lenders with respect to any
Subordinated Debt.

          Section 8.6   PARALLEL EUROPEAN DEBT

          (a)     DUTCH PARALLEL DEBT. Without prejudice to the other provisions
of this Agreement and the other Loan Documents, and for the purpose of ensuring
and preserving the validity and continuity of the security rights granted and to
be granted under or pursuant to the Collateral Documents governed by the laws of
The Netherlands (the "DUTCH LAW COLLATERAL DOCUMENTS"), each of the Lenders and
the other parties hereto hereby acknowledges and consents to the Non-US Credit
Parties that are party to the Dutch Law Collateral Documents undertaking in the
Dutch Law Collateral Documents to pay to GE Capital as pledgee thereunder, in
its own capacity and not as agent, representative or trustee,

                                     Annex A
                                     Page 94
<Page>

amounts which are equal to and in the currency of the Principal Obligations (as
defined in the Dutch Law Collateral Documents) from time to time due in
accordance with the terms and conditions of the Principal Obligations (the
"RELEVANT LIABILITIES") (such payment undertaking and the obligations and
liabilities resulting therefrom: defined as the "Parallel Debt" in the Dutch Law
Collateral Documents).

          The Lenders and the other parties hereto hereby agree that the
Parallel Debt is a claim of GE Capital which is separate and independent from,
and without prejudice to, the claims of the Lenders in respect of the Relevant
Liabilities, and is not a claim which is held jointly with the Lenders provided,
that to the extent any amount is paid to and received by GE Capital in payment
of the relevant Parallel Debt, the total amount due and payable in respect of
the corresponding Relevant Liabilities shall be decreased as if such amount were
received by the Lenders or any of them in payment of the corresponding Relevant
Liabilities. GE Capital, acting in its own capacity, hereby agrees to apply all
proceeds that it receives in connection with any enforcement action taken under
or pursuant to the Dutch Law Collateral Documents or otherwise in satisfaction
in whole or in part of the relevant Parallel Debt in accordance with the
provisions of the Dutch Law Collateral Documents.

          (b)     OTHER NON-US PARALLEL DEBT. For the purpose of ensuring and
preserving the validity and continuity of the Collateral Documents governed by
German law or the laws of France (the "EUROPEAN SECURITY DOCUMENTS") and solely
for such purpose and subject as provided below, European Borrower and each and
every other Non-US Credit Party hereby irrevocably and unconditionally
undertakes to pay the Agent amounts equal to any amounts owing by European
Borrower or such other Non-US Credit Party to the Agent and Lenders with respect
to the European Obligations as and when the same fall due for payment under the
applicable Loan Documents, so that the Agent shall be the obligee of such
covenant to pay and shall be entitled to claim performance thereof in its own
name and not as agent acting on behalf of the Agent and Lenders.

          The European Borrower, the other Non-US Credit Parties and the Agent
acknowledge that for this purpose such monetary obligations of the European
Borrower and/or such Non-US Credit Parties are several and are separate and
independent from, and without prejudice to, the identical obligations which the
European Borrower and such Non-US Credit Parties have to the Agent and Lenders
with respect to the relevant European Obligations, PROVIDED, that this shall
not, at the same time, result in European Borrower or any such Non-US Credit
Party incurring an aggregate monetary obligation to any Lender or the Agent
which is greater than the monetary obligations of European Borrower or such
Non-US Credit Party to Agent or any such Lender with respect to the European
Obligations.

          To this end and without prejudice to the foregoing, it is agreed that
(i) the amounts due and payable by European Borrower and the other Non-US Credit
Parties under this SECTION 8.6(b) (the "NON-US PARALLEL DEBT") shall be
decreased to the extent that European Borrower or such Non-US Credit Party has
paid any amounts to the Agent and Lenders or any of them with respect to the
European Obligations and European Obligations shall be decreased to the extent
that European Borrower or such Non-US Credit Party has paid any amounts to Agent
with respect to the Non-US Parallel Debt and (ii) the Non-US

                                     Annex A
                                     Page 95
<Page>

Parallel Debt shall not exceed the aggregate of the corresponding obligations
which European Borrower and the other Non-US Credit Parties have to Agent and
Lenders with respect to the European Obligations.

          Nothing in this SECTION 8.6(b) shall in any way negate, affect or
increase the obligations of European Borrower or any other Non-US Credit Party
to Agent or any Lender with respect to the European Obligations. For the purpose
of this SECTION 8.6(b), the Agent acts in its own name and on behalf of itself
and not as agent or representative of any other party hereto and any security
granted to the Agent to secure the Non-US Parallel Debt is granted to the Agent
in its capacity as creditor of the Non-US Parallel Debt.

          (c)     PARALLEL US DEBT. For the purpose of ensuring and preserving
the validity and continuity of the European Security Documents and solely for
such purpose and subject as provided below, each and every US Credit Party
hereby irrevocably and unconditionally undertakes to pay the Agent amounts equal
to any amounts owing by such US Credit Party to the Agent and Lenders in respect
of the Obligations as and when the same fall due for payment under the
applicable Loan Documents, so that the Agent shall be the obligee of such
covenant to pay and shall be entitled to claim performance thereof in its own
name and not as agent acting on behalf of the Agent and Lenders.

          The US Credit Parties and the Agent acknowledge that for this purpose
such monetary obligations of the US Credit Parties are several and are separate
and independent from, and without prejudice to, the identical obligations which
the US Credit Parties have to the Agent and Lenders in respect of the
Obligations, PROVIDED, that this shall not, at the same time, result in any US
Credit Party incurring an aggregate monetary obligation to any Lender or Agent
which is greater than the monetary obligations to Agent or any Lender under the
Loan Documents.

          To this end and without prejudice to the foregoing, it is agreed that
(i) the amounts due and payable by any US Credit Party under this SECTION 8.6(c)
(the "PARALLEL US DEBT") shall be decreased to the extent that such US Credit
Party has paid any amounts to the Agent and Lenders or any of them with respect
to the Obligations and (ii) the Parallel US Debt shall not exceed the aggregate
of the corresponding obligations which any US Credit Party has to the Agent and
Lenders with respect to the Obligations.

          Nothing in this SECTION 8.6(c) shall in any way negate, affect or
increase the obligations of any US Credit Party to Agent or any Lender with
respect to the Obligations. For the purpose of this SECTION 8.6(c) the Agent
acts in its own name and on behalf of itself and not as agent of representative
of any other party hereto and any security granted to the Agent to secure the
Parallel US Debt is granted to the Agent in its capacity as creditor of the
Parallel US Debt.

                                     Annex A
                                     Page 96
<Page>

                                    SECTION 9
                                  MISCELLANEOUS

          Section 9.1   INDEMNITIES.

          (a)     GENERAL INDEMNITY. Borrowers agree, jointly and severally, to
indemnify, pay, and hold Agent, each Lender, each L/C Issuer and their
respective officers, directors, employees, agents, and attorneys (the
"INDEMNITEES") harmless from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, claims, costs and
expenses (including all reasonable fees and expenses of counsel to such
Indemnitees) of any kind or nature whatsoever (other than Taxes) that may be
imposed on, incurred by, or asserted against the Indemnitee as a result of such
Indemnitees being a party to this Agreement or the transactions consummated
pursuant to this Agreement or otherwise relating to any of the Related
Transactions; PROVIDED, that (i) Borrowers shall have no obligation to an
Indemnitee hereunder with respect to liabilities to the extent resulting from
the gross negligence or willful misconduct of that Indemnitee as determined by a
court of competent jurisdiction and (ii) the European Borrower's foregoing
indemnification obligations shall be limited to the extent they pertain to the
European Obligations. If and to the extent that the foregoing undertaking may be
unenforceable for any reason, Borrowers agree to make the maximum contribution
to the payment and satisfaction thereof which is permissible under applicable
law (subject to the limitations pertaining to the gross negligence or willful
misconduct of an Indemnitee set forth in the proviso of the foregoing sentence).

          (b)     CURRENCY INDEMNITY. If, for the purposes of obtaining or
enforcing judgment in any court in any jurisdiction with respect to this
Agreement or any other Loan Document, it becomes necessary to convert into the
currency of such jurisdiction (the "JUDGMENT CURRENCY") any amount due under
this Agreement or under any other Loan Document in any currency other than the
Judgment Currency (the "CURRENCY DUE") (or for the purposes of the last
paragraph of SECTION 1.4), then conversion shall be made at the Exchange Rate on
the Business Day before the day on which judgment is given (or for the purposes
of the last paragraph of SECTION 1.4, on the Business Day on which the payment
was received by Agent). In the event that there is a change in the Exchange Rate
between the Business Day before the day on which the judgment is given and the
date of receipt by Agent of the amount due, Borrowers shall, on the date of
receipt by Agent, pay such additional amounts, if any, or be entitled to receive
reimbursement of such amount, if any as may be necessary to ensure that the
amount received by Agent on such date is the amount in the Judgment Currency
which when converted at the Exchange Rate on the date of receipt by Agent in
accordance with normal banking procedures in the relevant jurisdiction is the
amount then due under this Agreement or such other Loan Document in the Currency
Due. If the amount of the Currency Due (including any Currency Due for purposes
of SECTION 1.4) which Agent is so able to purchase is less than the amount of
the Currency Due (including any Currency Due for purposes of SECTION 1.4)
originally due to it, Borrowers shall jointly and severally indemnify and save
Agent and Lenders harmless from and against loss or damage arising as a result
of such deficiency. This indemnity shall (i) constitute an obligation separate
and independent from the other obligations contained in this Agreement and the
other Loan Documents, (ii) give rise to a separate and independent cause of
action,

                                     Annex A
                                     Page 97
<Page>

(iii) apply irrespective of any indulgence granted by Agent or any Lender from
time to time, (iv) survive the payment in full of the Obligations and the
termination of this Agreement, and (v) continue in full force and effect
notwithstanding any judgment or order for a liquidated sum in respect of an
amount due under this Agreement or any other Loan Document or under any judgment
or order.

          Section 9.2   AMENDMENTS AND WAIVERS.

          (a)     Except for actions expressly permitted to be taken by Agent,
no amendment, modification, termination or waiver of any provision of this
Agreement or any other Loan Document, or any consent to any departure by any
Credit Party therefrom, shall in any event be effective unless the same shall be
in writing and signed by Borrowers, and by Requisite Lenders, Requisite
Revolving Lenders, Supermajority Revolving Lenders or all affected Lenders, as
applicable. Except as set forth in clauses (b) and (c) below, all such
amendments, modifications, terminations or waivers requiring the consent of any
Lenders shall require the written consent of Requisite Lenders.

          (b)     No amendment, modification, termination or waiver of or
consent with respect to any provision of this Agreement that increases the
percentage advance rates set forth in the definition of the US Borrowing Base or
in the definition of European Borrowing Base, or that makes less restrictive the
nondiscretionary criteria for exclusion from Eligible Accounts (US Loans) and
Eligible Inventory (US Loans) set forth in EXHIBIT 4.8(d)(i) or from Eligible
Accounts (European Loans) and Eligible Inventory (European Loans) set forth in
EXHIBIT 4.8(d)(ii), shall be effective unless the same shall be in writing and
signed by Agent, Supermajority Revolving Lenders and Borrowers. No amendment,
modification, termination or waiver of or consent with respect to any provision
of this Agreement that waives compliance with the conditions precedent set forth
in SECTION 7.2 to the making of any Loan or the incurrence of any Letter of
Credit Obligations or amends SECTION 1.1(c)(ii) or 1.1(d)(ii) shall be effective
unless the same shall be in writing and signed by Agent, Requisite Revolving
Lenders and Borrowers. Notwithstanding anything contained in this Agreement to
the contrary, no waiver or consent with respect to any Default or any Event of
Default shall be effective for purposes of the conditions precedent to the
making of Loans or the incurrence of Letter of Credit Obligations set forth in
SECTION 7.2 unless the same shall be in writing and signed by Agent, Requisite
Revolving Lenders and Borrowers.

          (c)     No amendment, modification, termination or waiver shall,
unless in writing and signed by Agent and each Lender directly affected thereby:
(i) increase the principal amount of any Lender's Commitment (which action shall
be deemed only to affect those Lenders whose Commitments are increased and may
be approved by Requisite Lenders, including those Lenders whose Commitments are
increased); (ii) reduce the principal of, rate of interest on or Fees payable,
or any indemnities or other amounts payable, with respect to any Loan or Letter
of Credit Obligations of any affected Lender; (iii) extend any scheduled payment
date or final maturity date of the principal amount of any Loan of any affected
Lender; (iv) waive, forgive, defer, extend or postpone any payment of interest
or Fees or other amounts as to any affected Lender (which action shall be deemed
only to affect those Lenders to whom such payments are made); (v) release any
Guaranty or, except as

                                     Annex A
                                     Page 98
<Page>

otherwise permitted in SECTION 3.7, release Collateral with a book value
exceeding 10% of the book value of all assets in the aggregate in any one (1)
year (which action shall be deemed to directly affect all Lenders); (vi) except
pursuant to clause (i) above, change the percentage of the Commitments or of the
aggregate unpaid principal amount of the Loans that shall be required for
Lenders or any of them to take any action hereunder; and (vii) amend or waive
this SECTION 9.2 or the definitions of the terms "Requisite Lenders", "Requisite
Revolving Lenders" or "Supermajority Revolving Lenders" insofar as such
definitions affect the substance of this SECTION 9.2. Solely for the purposes of
this SECTION 9.2(c) in determining whether any Lender is an affected Lender, any
Lender that has (i) a US Revolving Loan Commitment, shall also be deemed to have
a European Revolving Loan Commitment, and (ii) a European Revolving Loan
Commitment, shall also be deemed to have a US Revolving Loan Commitment.
Furthermore, no amendment, modification, termination or waiver affecting the
rights or duties of Agent or L/C Issuers under this Agreement or any other Loan
Document shall be effective unless in writing and signed by Agent or L/C
Issuers, as the case may be, in addition to Lenders required hereinabove to take
such action. Each amendment, modification, termination or waiver shall be
effective only in the specific instance and for the specific purpose for which
it was given. No amendment, modification, termination or waiver shall be
required for Agent to take additional Collateral pursuant to any Loan Document.
No amendment, modification, termination or waiver of any provision of any Note
shall be effective without the written concurrence of the holder of that Note.
No notice to or demand on any Credit Party in any case shall entitle such Credit
Party or any other Credit Party to any other or further notice or demand in
similar or other circumstances. Any amendment, modification, termination, waiver
or consent effected in accordance with this SECTION 9.2 shall be binding upon
each holder of the Notes at the time outstanding and each future holder of the
Notes.

          Section 9.3   NOTICES.

          Any notice or other communication required shall be in writing
addressed to the respective party as set forth below and may be personally
served, telecopied, sent by overnight courier service or U.S. mail and shall be
deemed to have been given: (a) if delivered in person, when delivered; (b) if
delivered by fax, on the date of transmission if transmitted on a Business Day
before 4:00 p.m. New York Time; (c) if delivered by overnight courier, one (1)
Business Day after delivery to the courier properly addressed; or (d) if
delivered by U.S. mail, four (4) Business Days after deposit with postage
prepaid and properly addressed.

     Notices shall be addressed as follows:

<Table>
          <S>                                        <C>
          If to Borrower Representative or any       c/o Castle Harlan Partners IV, LP
          Credit Party:                              150 East 58th Street, 37th Floor
                                                     New York, New York 10155
                                                     ATTN:  Marcel Fournier and Howard Weiss
                                                     Fax: (212) 207-8042
</Table>

                                     Annex A
                                     Page 99
<Page>

<Table>
          <S>                                        <C>
          If to Agent or GE Capital:                 GENERAL ELECTRIC CAPITAL
                                                     CORPORATION
                                                     335 Madison Avenue
                                                     12th Floor
                                                     New York, New York 10017
                                                     ATTN: Advanced Accessories Account Officer
                                                     Fax:  (212) 983-8766

          With a copy to:                            GENERAL ELECTRIC CAPITAL CORPORATION
                                                     201 High Ridge Road
                                                     Stamford, Connecticut 06927-5100
                                                     ATTN:  Corporate Financial Services - Global Sponsor
                                                     Finance - General Counsel
                                                     Fax:  (203) 316-7899

                                                     and

                                                     GENERAL ELECTRIC CAPITAL
                                                     CORPORATION
                                                     500 West Monroe Street
                                                     Chicago, Illinois 60661
                                                     ATTN:  Corporate Counsel
                                                      Commercial Finance - Merchant Banking
                                                     Fax: (312) 441-6876

          If to a Lender:                            To the address set forth on the signature page
                                                     hereto or in the applicable Assignment Agreement
</Table>

          Section 9.4   FAILURE OR INDULGENCE NOT WAIVER; REMEDIES CUMULATIVE.

          No failure or delay on the part of Agent or any Lender to exercise,
nor any partial exercise of, any power, right or privilege hereunder or under
any other Loan Documents shall impair such power, right, or privilege or be
construed to be a waiver of any Default or Event of Default. All rights and
remedies existing hereunder or under any other Loan Document are cumulative to
and not exclusive of any rights or remedies otherwise available.

          Section 9.5   MARSHALING; PAYMENTS SET ASIDE.

          Neither Agent nor any Lender shall be under any obligation to marshal
any assets in payment of any or all of the Obligations. To the extent that
Borrowers make payment(s) or Agent enforces its Liens or Agent or any Lender
exercises its right of set-off, and such payment(s) or the proceeds of such
enforcement or set-off is subsequently invalidated, declared to be fraudulent or
preferential, set aside, or required to be repaid by

                                     Annex A
                                    Page 100
<Page>

anyone, then to the extent of such recovery, the Obligations or part thereof
originally intended to be satisfied, and all Liens, rights and remedies
therefor, shall be revived and continued in full force and effect as if such
payment had not been made or such enforcement or set-off had not occurred.

          Section 9.6   SEVERABILITY.

          The invalidity, illegality, or unenforceability in any jurisdiction of
any provision under the Loan Documents shall not affect or impair the remaining
provisions in the Loan Documents.

          Section 9.7   LENDERS' OBLIGATIONS SEVERAL; INDEPENDENT NATURE OF
LENDERS' RIGHTS.

          The obligation of each Lender hereunder is several and not joint and
no Lender shall be responsible for the obligation or commitment of any other
Lender hereunder. In the event that any Lender at any time should fail to make a
Loan as herein provided, the Lenders, or any of them, at their sole option, may
make the Loan that was to have been made by the Lender so failing to make such
Loan. Nothing contained in any Loan Document and no action taken by Agent or any
Lender pursuant hereto or thereto shall be deemed to constitute Lenders to be a
partnership, an association, a joint venture or any other kind of entity. The
amounts payable at any time hereunder to each Lender shall be a separate and
independent debt.

          Section 9.8   HEADINGS.

          Section and subsection headings are included herein for convenience of
reference only and shall not constitute a part of this Agreement for any other
purposes or be given substantive effect.

          Section 9.9   APPLICABLE LAW.

          THIS AGREEMENT AND EACH OF THE OTHER LOAN DOCUMENTS WHICH DOES NOT
EXPRESSLY SET FORTH APPLICABLE LAW SHALL BE GOVERNED BY AND SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.

          Section 9.10  SUCCESSORS AND ASSIGNS.

          This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns except that Borrowers
may not assign their rights or obligations hereunder without the written consent
of all Lenders.

                                     Annex A
                                    Page 101
<Page>

          Section 9.11  NO FIDUCIARY RELATIONSHIP; LIMITED LIABILITY.

          No provision in the Loan Documents and no course of dealing between
the parties shall be deemed to create any fiduciary duty owing to Borrowers by
Agent or any Lender. Borrowers agree that neither Agent nor any Lender shall
have liability to Borrowers (whether sounding in tort, contract or otherwise)
for losses suffered by Borrowers in connection with, arising out of, or in any
way related to the transactions contemplated and the relationship established by
the Loan Documents, or any act, omission or event occurring in connection
therewith, unless and to the extent that it is determined that such losses
resulted from the gross negligence or willful misconduct of the party from which
recovery is sought as determined by a final non-appealable order by a court of
competent jurisdiction. Neither Agent nor any Lender shall have any liability
with respect to, and Borrowers hereby waive, release and agree not to sue for,
any special, indirect or consequential damages suffered by Borrowers in
connection with, arising out of, or in any way related to the Loan Documents or
the transactions contemplated thereby.

          Section 9.12  CONSTRUCTION.

          Agent, each Lender, Borrowers and each other Credit Party acknowledge
that each of them has had the benefit of legal counsel of its own choice and has
been afforded an opportunity to review the Loan Documents with its legal counsel
and that the Loan Documents shall be construed as if jointly drafted by Agent,
each Lender, Borrowers and each other Credit Party.

          Section 9.13  CONFIDENTIALITY.

          Agent and each Lender agree to exercise their best efforts to keep
confidential any non-public information delivered pursuant to the Loan Documents
by or on behalf of Borrowers and not to disclose such information to Persons
other than to potential assignees or participants or to Persons employed by or
engaged by Agent a Lender or a Lender's assignees or participants including
attorneys, auditors, professional consultants, rating agencies, insurance
industry associations and portfolio management services. The confidentiality
provisions contained in this SECTION 9.13 shall not apply to disclosures (i)
required to be made by Agent or any Lender to any regulatory or governmental
agency or pursuant to legal process or (ii) consisting of general portfolio
information that does not identify Borrowers. The obligations of Agent and
Lenders under this SECTION 9.13 shall supersede and replace the obligations of
Agent and Lenders under any confidentiality agreement in respect of this
financing executed and delivered by Agent or any Lender prior to the date
hereof.

          Section 9.14  CONSENT TO JURISDICTION.

          BORROWERS AND THE OTHER CREDIT PARTIES HEREBY CONSENT TO THE
JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN NEW YORK COUNTY, STATE
OF NEW YORK AND IRREVOCABLY AGREE THAT, SUBJECT TO AGENT'S ELECTION, ALL ACTIONS

                                     Annex A
                                    Page 102
<Page>

OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS. BORROWERS AND THE OTHER CREDIT
PARTIES EXPRESSLY SUBMIT AND CONSENT TO THE JURISDICTION OF THE AFORESAID COURTS
AND WAIVE ANY DEFENSE OF FORUM NON CONVENIENS. BORROWERS AND THE OTHER CREDIT
PARTIES HEREBY WAIVE PERSONAL SERVICE OF ANY AND ALL PROCESS AND AGREE THAT ALL
SUCH SERVICE OF PROCESS MAY BE MADE UPON BORROWERS AND THE OTHER CREDIT PARTIES
BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO BORROWER
REPRESENTATIVE, AT THE ADDRESS SET FORTH IN THIS AGREEMENT AND SERVICE SO MADE
SHALL BE COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN POSTED.

          Section 9.15  WAIVER OF JURY TRIAL.

          BORROWERS, THE OTHER CREDIT PARTIES, AGENT AND EACH LENDER HEREBY
WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS.
BORROWERS, THE OTHER CREDIT PARTIES, AGENT AND EACH LENDER ACKNOWLEDGE THAT THIS
WAIVER IS A MATERIAL INDUCEMENT TO AGENT AND EACH LENDER TO ENTER INTO A
BUSINESS RELATIONSHIP, THAT AGENT AND EACH LENDER HAS RELIED ON THE WAIVER IN
ENTERING INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND THAT AGENT AND
EACH LENDER WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE
DEALINGS. BORROWERS, THE OTHER CREDIT PARTIES, AGENT AND EACH LENDER WARRANT AND
REPRESENT THAT EACH HAS HAD THE OPPORTUNITY OF REVIEWING THIS JURY WAIVER WITH
LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS.

          Section 9.16  SURVIVAL OF WARRANTIES AND CERTAIN AGREEMENTS.

          All agreements, representations and warranties made herein shall
survive the execution and delivery of this Agreement, the making of the Loans,
issuances of Letters of Credit and the execution and delivery of the Notes.
Notwithstanding anything in this Agreement or implied by law to the contrary,
the agreements of Borrowers set forth in SECTIONS 1.3(e), 1.8, 1.9 and 9.1 shall
survive the repayment of the Obligations and the termination of this Agreement.

          Section 9.17  ENTIRE AGREEMENT.

          This Agreement, the Notes and the other Loan Documents embody the
entire agreement among the parties hereto and supersede all prior commitments,
agreements, representations, and understandings, whether oral or written,
relating to the subject matter hereof, and may not be contradicted or varied by
evidence of prior, contemporaneous, or subsequent oral agreements or discussions
of the parties hereto. All Exhibits, Schedules and

                                     Annex A
                                    Page 103
<Page>

Annexes referred to herein are incorporated in this Agreement by reference and
constitute a part of this Agreement.

          Section 9.18  COUNTERPARTS; EFFECTIVENESS.

          This Agreement and any amendments, waivers, consents or supplements
may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be
deemed an original, but all of which counterparts together shall constitute but
one in the same instrument. This Agreement shall become effective upon the
execution of a counterpart hereof by each of the parties hereto.

          Section 9.19  REPLACEMENT OF LENDERS.

          (a)     Within fifteen (15) days after receipt by Borrower
Representative of written notice and demand from any Lender for payment pursuant
to SECTION 1.8 or 1.9 or, as provided in this SECTION 9.19(c) (it being
understood that the below clauses (i) and (ii) under this SECTION 9.19(a) do not
apply to Proposed Changes covered by SECTION 9.19(c)), in the case of certain
refusals by any Lender to consent to certain proposed amendments, modifications,
terminations or waivers with respect to this Agreement that have been approved
by Requisite Lenders, Requisite Revolving Lenders, Supermajority Revolving
Lenders or all affected Lenders, as applicable (any such Lender demanding such
payment or refusing to so consent being referred to herein as an "AFFECTED
LENDER"), Borrowers may, at their option, with respect to any Lender that has so
made a demand pursuant to SECTION 1.8 or 1.9, notify Agent and such Affected
Lender of its intention to do one of the following:

          (i)     Borrowers may obtain, at Borrowers' expense, a
     replacement Lender ("REPLACEMENT LENDER") for such Affected
     Lender, which Replacement Lender shall be reasonably satisfactory
     to Agent. In the event Borrowers obtain a Replacement Lender that
     will purchase all outstanding Obligations owed to such Affected
     Lender and assume its Commitments hereunder and all of its
     obligations and rights under the Lender Risk Allocation Agreement
     within ninety (90) days following notice of Borrowers' intention
     to do so, the Affected Lender shall sell and assign all of its
     rights and delegate all of its obligations under this Agreement
     and the Lender Risk Allocation Agreement to such Replacement
     Lender in accordance with the provisions of SECTION 8.1, PROVIDED
     that Borrowers have reimbursed such Affected Lender for any
     administrative fee payable pursuant to SECTION 8.1 and, in any
     case where such replacement occurs as the result of a demand for
     payment pursuant to SECTION 1.8 or 1.9, paid all amounts required
     to be paid to such Affected Lender pursuant to SECTION 1.8 or 1.9
     through the date of such sale and assignment; or

          (ii)    Borrowers may, with Agent's consent, prepay in full all
     outstanding Obligations owed to such Affected Lender and
     terminate such Affected Lender's Pro Rata Share of the Revolving
     Loan Commitment and Pro

                                     Annex A
                                    Page 104
<Page>

     Rata Share of the Term Loan Commitment (so long as the
     obligations of such Affected Lender under the Lender Risk
     Allocation Agreement are addressed in a manner acceptable to
     Agent), in which case the Revolving Loan Commitment and Term Loan
     Commitment will be reduced by the amount of such Pro Rata Share.
     Borrowers shall, within ninety (90) days following notice of
     their intention to do so, prepay in full all outstanding
     Obligations owed to such Affected Lender (including, in any case
     where such prepayment occurs as the result of a demand for
     payment for increased costs, such Affected Lender's increased
     costs for which it is entitled to reimbursement under this
     Agreement through the date of such prepayment), and terminate
     such Affected Lender's obligations under the Revolving Loan
     Commitment and Term Loan Commitment.

          (b)     In the case of a Non-Funding Lender pursuant to SECTION
8.5(a), at (i) Borrower Representative's request a Person designated by Borrower
Representative shall have the right with Agent's consent (which consent shall
not be unreasonably withheld or delayed with respect to a Qualified Assignee;
provided that Agent may withhold such consent if the Non-Funding Lender's
obligations under the Lender Risk Allocation Agreement are not assumed by a
Person acceptable to Agent and in a manner acceptable to Agent) or (ii) Agent
shall have the right in Agent's sole discretion (but shall have no obligation),
in each case with respect to clauses (i) and (ii) above, to purchase from any
Non-Funding Lender and each Non-Funding Lender agrees that it shall sell and
assign to such Person or Agent, as applicable, all of the Loans and Commitments
(along with all rights and obligations of such Non-Funding Lender under the
Lender Risk Allocation Agreement) of that Non-Funding Lender for an amount equal
to the principal balance of all Loans held by such Non-Funding Lender and all
accrued interest and Fees with respect thereto through the date of sale, such
purchase and sale to be consummated pursuant to an executed Assignment
Agreement. In the event that Borrower Representative requests that a Non-Funding
Lender be so replaced, Agent will use commercially reasonable efforts to assist
the Borrowers in finding a Lender to so replace such Non-Funding Lender.

          (c)     If, in connection with any proposed amendment, modification,
waiver or termination pursuant to SECTION 9.2 (a "PROPOSED CHANGE"):

          (i)     requiring the consent of all affected Lenders, the
     consent of Requisite Lenders is obtained, but the consent of
     other Lenders whose consent is required is not obtained (any such
     Lender whose consent is not obtained as described in this clause
     (i) and in clause (ii) below being referred to as a
     "NON-CONSENTING LENDER"), or

          (ii)    requiring the consent of Supermajority Revolving
     Lenders, the consent of Requisite Revolving Lenders is obtained,
     but the consent of Supermajority Revolving Lenders is not
     obtained,

then, so long as Agent is not a Non-Consenting Lender, (x) at Borrower
Representative's request, a Person designated by Borrower Representative which
Person is reasonably

                                     Annex A
                                    Page 105
<Page>

acceptable to Agent shall have the right with Agent's consent (which consent
shall not be unreasonably withheld or delayed with respect to a Qualified
Assignee; provided that Agent may withhold such consent if the Non-Consenting
Lender's obligations under the Lender Risk Allocation Agreement are not assumed
by a Person acceptable to Agent and in a manner acceptable to Agent) and (y)
Agent shall have the right in Agent's sole discretion (but shall have no
obligation) to purchase from such Non-Consenting Lenders, and, with respect to
each of clause (i) and (ii) above, such Non-Consenting Lenders agree that they
shall, upon Agent's request, sell and assign to such Person or Agent, all of the
Loans and Commitments of such Non-Consenting Lenders for an amount equal to the
principal balance of all Loans held by the Non-Consenting Lenders and all
accrued interest and Fees with respect thereto through the date of sale, such
purchase and sale to be consummated pursuant to an executed Assignment
Agreement.

          Section 9.20  DELIVERY OF TERMINATION STATEMENTS AND MORTGAGE
RELEASES.

          Upon payment in full in cash and performance of all of the Obligations
(other than indemnification Obligations), termination of the Commitments and a
release of all claims against Agent and Lenders, and so long as no suits,
actions proceedings, or claims are pending or threatened against any Indemnitee
asserting any damages, losses or liabilities that are indemnified liabilities
hereunder, Agent shall deliver to Borrower Representative termination
statements, mortgage releases and other documents necessary or appropriate to
evidence the termination of the Liens securing payment of the Obligations.

          If a Credit Party sells, transfers or otherwise disposes of any assets
or property in accordance with SECTION 3.7, the Agent will, upon such Credit
Party's request and at such Credit Party's expense, execute and deliver to such
Credit Party such documents, UCC and other releases with respect to such assets
or property as such Credit Party shall reasonably request to evidence the
release of its Lien on such assets or property, all without any representation,
warranty or recourse whatsoever.

          Section 9.21  INTENTIONALLY RESERVED.

          Section 9.22  JOINT AND SEVERAL OBLIGATIONS REGARDING CANADA.

          Notwithstanding any other provision contained in this Agreement or any
other Loan Document, if a "secured creditor" (as that term is defined under the
Bankruptcy and Insolvency Act (Canada)) is determined by a court of competent
jurisdiction in Canada not to include a Person to whom obligations are owed on a
joint or joint and several basis, then the Obligations of each of the Credit
Parties organized under the laws of Canada or a province or territory thereof,
to the extent such Obligations are secured, only shall be several obligations
and not joint or joint and several.

          Section 9.23  EUROPEAN/QUEBEC FINANCIAL ASSISTANCE LIMITATION.

          Notwithstanding any other provision of this Agreement, any indemnities
by, or obligations of, the European Borrower or any other Non-US Credit Party
incorporated under

                                     Annex A
                                    Page 106
<Page>

the laws of any European jurisdiction or Quebec shall only be legally binding on
the European Borrower or such other Non-US Credit Party insofar as the same will
not be in violation of the prohibition on financial assistance contained in the
Dutch Civil Code or any other applicable European or Quebec law and all
provisions hereof shall be construed accordingly.

          Section 9.24  REAFFIRMATION OF ORIGINAL LOAN DOCUMENTS.

          Each Credit Party hereby reaffirms its obligations under each Original
Loan Document, as amended, supplemental or otherwise modified by this Agreement
and by the other Loan Documents (as hereinafter defined) delivered on the date
hereof. Each Credit Party further agrees that each such Original Loan Document
shall remain in full force and effect following the execution and delivery of
this Agreement and that all references to the "Credit Agreement" in such
Original Loan Documents shall be deemed to refer to this Agreement. Without
limiting the foregoing, Sportrack Accessories Inc. recognizes and agrees that
the pledge of the debenture in the principal amount of Cdn.$75,000,000 dated
April 15, 2003 made payable to Agent (the "REAFFIRMED CANADIAN DEBENTURE"), as
such pledge is contemplated in the pledge of debenture agreement dated April 15,
2003 between Sportrack Accessories Inc., Agent and the Lenders, (the "REAFFIRMED
CANADIAN PLEDGE AGREEMENT"), guarantees and shall continue to guarantee the
Obligations of Sportrack Accessories Inc., and for more certainty and for all
intended purposes repledges the Reaffirmed Canadian Debenture in favor of Agent
and the Lenders in guarantee of such Obligations, such new pledge to be governed
by the terms of the Reaffirmed Canadian Pledge Agreement

                                   SECTION 10
                           US BORROWER CROSS-GUARANTY

          Section 10.1  US BORROWER CROSS-GUARANTY.

          Each US Borrower (but not the European Borrower) hereby agrees that
such Borrower is jointly and severally liable for, and hereby absolutely and
unconditionally guarantees to Agent and Lenders and their respective successors
and assigns, the full and prompt payment (whether at stated maturity, by
acceleration or otherwise) and performance of, all Obligations owed or hereafter
owing to Agent and Lenders by each other Borrower. Each such US Borrower agrees
that its guaranty obligation hereunder is a continuing guaranty of payment and
performance and not of collection, that its obligations under this SECTION 10
shall not be discharged until payment and performance, in full, of the
Obligations has occurred, and that its obligations under this SECTION 10 shall
be absolute and unconditional, irrespective of, and unaffected by,

          (a)     the genuineness, validity, regularity, enforceability or any
future amendment of, or change in, this Agreement, any other Loan Document or
any other agreement, document or instrument to which any Borrower is or may
become a party;

                                     Annex A
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<Page>

          (b)     the absence of any action to enforce this Agreement (including
this SECTION 10) or any other Loan Document or the waiver or consent by Agent
and Lenders with respect to any of the provisions thereof;

          (c)     the existence, value or condition of, or failure to perfect
its Lien against, any security for the Obligations or any action, or the absence
of any action, by Agent and Lenders in respect thereof (including the release of
any such security);

          (d)     the insolvency of any Credit Party; or

          (e)     any other action or circumstances that might otherwise
constitute a legal or equitable discharge or defense of a surety or guarantor.

Each such US Borrower shall be regarded, and shall be in the same position, as
principal debtor with respect to the Obligations guaranteed hereunder.

          Section 10.2  WAIVERS BY US BORROWERS.

          Each US Borrower expressly waives all rights it may have now or in the
future under any statute, or at common law, or at law or in equity, or
otherwise, to compel Agent or Lenders to marshal assets or to proceed in respect
of the Obligations guaranteed hereunder against any other Credit Party, any
other party or against any security for the payment and performance of the
Obligations before proceeding against, or as a condition to proceeding against,
such Borrower. It is agreed among each Borrower, Agent and Lenders that the
foregoing waivers are of the essence of the transaction contemplated by this
Agreement and the other Loan Documents and that, but for the provisions of this
SECTION 10 and such waivers, Agent and Lenders would decline to enter into this
Agreement.

          Section 10.3  BENEFIT OF GUARANTY.

          Each Borrower agrees that the provisions of this SECTION 10 are for
the benefit of Agent and Lenders and their respective successors, transferees,
endorsees and assigns, and nothing herein contained shall impair, as between any
other Borrower and Agent or Lenders, the obligations of such other Borrower
under the Loan Documents.

          Section 10.4  WAIVER OF SUBROGATION, ETC.

          Notwithstanding anything to the contrary in this Agreement or in any
other Loan Document, and except as set forth in SECTION 10.7 and except with
respect to the intercompany loans permitted by SECTIONS 3.1(b) and (c), each US
Borrower hereby expressly and irrevocably waives any and all rights at law or in
equity to subrogation, reimbursement, exoneration, contribution, indemnification
or set off and any and all defenses available to a surety, guarantor or
accommodation co-obligor. Each Borrower acknowledges and agrees that this waiver
is intended to benefit Agent and Lenders and shall not limit or otherwise affect
such Borrower's liability hereunder or the enforceability of this SECTION 10,
and that Agent, Lenders and their respective successors and assigns are intended
third party beneficiaries of the waivers and agreements set forth in this
SECTION 10.4.

                                     Annex A
                                    Page 108
<Page>

          Section 10.5  ELECTION OF REMEDIES.

          If Agent or any Lender may, under applicable law, proceed to realize
its benefits under any of the Loan Documents giving Agent or such Lender a Lien
upon any Collateral, whether owned by any Borrower or by any other Person,
either by judicial foreclosure or by non-judicial sale or enforcement, Agent or
any Lender may, at its sole option, determine which of its remedies or rights it
may pursue without affecting any of its rights and remedies under this SECTION
10. If, in the exercise of any of its rights and remedies, Agent or any Lender
shall forfeit any of its rights or remedies, including its right to enter a
deficiency judgment against any Borrower or any other Person, whether because of
any applicable laws pertaining to "election of remedies" or the like, each
Borrower hereby consents to such action by Agent or such Lender and waives any
claim based upon such action, even if such action by Agent or such Lender shall
result in a full or partial loss of any rights of subrogation that each Borrower
might otherwise have had but for such action by Agent or such Lender. Any
election of remedies that results in the denial or impairment of the right of
Agent or any Lender to seek a deficiency judgment against any Borrower shall not
impair any other Borrower's obligation to pay the full amount of the
Obligations. In the event Agent or any Lender shall bid at any foreclosure or
trustee's sale or at any private sale permitted by law or the Loan Documents,
Agent or such Lender may bid all or less than the amount of the Obligations and
the amount of such bid need not be paid by Agent or such Lender but shall be
credited against the Obligations. The amount of the successful bid at any such
sale, whether Agent, Lender or any other party is the successful bidder, shall
be conclusively deemed to be the fair market value of the Collateral and the
difference between such bid amount and the remaining balance of the Obligations
shall be conclusively deemed to be the amount of the Obligations guaranteed
under this SECTION 10, notwithstanding that any present or future law or court
decision or ruling may have the effect of reducing the amount of any deficiency
claim to which Agent or any Lender might otherwise be entitled but for such
bidding at any such sale.

          Section 10.6  LIMITATION.

          Notwithstanding any provision herein contained to the contrary, each
Borrower's liability under this SECTION 10 (which liability is in any event in
addition to amounts for which such Borrower is primarily liable under SECTION 1)
shall be limited to an amount not to exceed as of any date of determination the
greater of:

          (a)     the net amount of all Loans advanced to any other Borrower
under this Agreement and then re-loaned or otherwise transferred to, or for the
benefit of, such Borrower; and

          (b)     the amount that could be claimed by Agent and Lenders from
such Borrower under this SECTION 10 without rendering such claim voidable or
avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any
applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance
Act or similar (domestic or foreign) statute or common law after taking into
account, among other things, such

                                     Annex A
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<Page>

Borrower's right of contribution and indemnification from each other Borrower
under SECTION 10.7.

          Section 10.7  CONTRIBUTION WITH RESPECT TO GUARANTY OBLIGATIONS.

          To the extent that any Borrower shall make a payment under this
SECTION 10 of all or any of the Obligations (other than Loans made to that
Borrower for which it is primarily liable) (a "GUARANTOR PAYMENT") that, taking
into account all other Guarantor Payments then previously or concurrently made
by any other Borrower, exceeds the amount that such Borrower would otherwise
have paid if each Borrower had paid the aggregate Obligations satisfied by such
Guarantor Payment in the same proportion that such Borrower's "Allocable Amount"
(as defined below) (as determined immediately prior to such Guarantor Payment)
bore to the aggregate Allocable Amounts of each of the Borrowers as determined
immediately prior to the making of such Guarantor Payment, then, following
indefeasible payment in full in cash of the Obligations and termination of the
Commitments, such Borrower shall be entitled to receive contribution and
indemnification payments from, and be reimbursed by, each other Borrower for the
amount of such excess, pro rata based upon their respective Allocable Amounts in
effect immediately prior to such Guarantor Payment.

          (a)     As of any date of determination, the "ALLOCABLE AMOUNT" of any
Borrower shall be equal to the maximum amount of the claim that could then be
recovered from such Borrower under this SECTION 10 without rendering such claim
voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or
under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent
Conveyance Act or similar statute or common law.

          (b)     This SECTION 10.7 is intended only to define the relative
rights of Borrowers and nothing set forth in this SECTION 10.7 is intended to or
shall impair the obligations of Borrowers, jointly and severally, to pay any
amounts as and when the same shall become due and payable in accordance with the
terms of this Agreement, including SECTION 10.1. Nothing contained in this
SECTION 10.7 shall limit the liability of any Borrower to pay the Loans made
directly or indirectly to that Borrower and accrued interest, Fees and expenses
with respect thereto for which such Borrower shall be primarily liable.

          (c)     The parties hereto acknowledge that the rights of contribution
and indemnification hereunder shall constitute assets of the Borrower to which
such contribution and indemnification is owing.

          (d)     The rights of the indemnifying Borrowers against other Credit
Parties under this SECTION 10.7 shall be exercisable upon the full and
indefeasible payment of the Obligations and the termination of the Commitments.

          Section 10.8  LIABILITY CUMULATIVE.

          The liability of Borrowers under this SECTION 10 is in addition to and
shall be cumulative with all liabilities of each Borrower to Agent and Lenders
under this Agreement

                                     Annex A
                                    Page 110
<Page>

and the other Loan Documents to which such Borrower is a party or in respect of
any Obligations or obligation of the other Borrower, without any limitation as
to amount, unless the instrument or agreement evidencing or creating such other
liability specifically provides to the contrary.

                                     Annex A
                                    Page 111
<Page>

          Witness the due execution hereof by the respective duly authorized
officers of the undersigned as of the date first written above.

                                     BORROWERS:

                                      SPORTRACK, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:   Secretary
                                               ---------------------------------

                                      VALLEY INDUSTRIES, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:   Barry Steele
                                               ---------------------------------

                                      BRINK B.V.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                     Annex A
                                    Page 112
<Page>

                               OTHER CREDIT PARTIES:

                                      CHAAS HOLDINGS, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      CHAAS ACQUISITIONS, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      ADVANCED ACCESSORY SYSTEMS, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:   Secretary
                                               ---------------------------------

                                      AAS ACQUISITIONS, LLC

                                      By:    /s/ Sylvia Rosen
                                             -----------------------------------
                                      Name:    Sylvia Rosen
                                               ---------------------------------
                                      Title:   Secretary
                                               ---------------------------------

                                      CHAAS HOLDINGS B.V.

                                      By:    /s/ Jan Willem Rengelink
                                               ---------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------

                                     Annex A
                                    Page 113
<Page>

                                      Title:
                                               ---------------------------------

                                      SPORTRACK ACCESSORIES INC.

                                      By:    /s/ Terence C. Seikel
                                             -----------------------------------
                                      Name:    Terence C. Seikel
                                               ---------------------------------
                                      Title:   President
                                               ---------------------------------

                                      SPORTRACK GMBH

                                      By:    /s/ Michael Runte
                                             -----------------------------------
                                      Name:    Michael Runte
                                               ---------------------------------
                                      Title:   Director
                                               ---------------------------------

                                      VALTEK, LLC

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:   Secretary
                                               ---------------------------------

                                      CHAAS HOLDINGS III B.V.

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:

                                     Annex A
                                    Page 114
<Page>

                                      AAS CAPITAL CORPORATION

                                      By:    /s/ Barry Steele
                                             -----------------------------------
                                      Name:    Barry Steele
                                               ---------------------------------
                                      Title:   Chairman
                                               ---------------------------------

                                      NOMADIC SPORT INC.

                                      By:    /s/ Terence C. Seikel
                                             -----------------------------------
                                      Name:    Terence C. Seikel
                                               ---------------------------------
                                      Title:   President
                                               ---------------------------------

                                     Annex A
                                    Page 115
<Page>

                                      SPORTRACK S.R.O.

                                      By:    /s/ Sasha Stepanova
                                             -----------------------------------
                                      Name:    Sasha Stepanova
                                               ---------------------------------
                                      Title:   (on the basis of a power of
                                               attorney granted by sportrack
                                               s.r.o. on 13.5.2003)
                                               ---------------------------------

                                      SPORTRACK IBERICA AUTOMOTIVE, S.L.
                                      UNIPERSONAL

                                      By:    /s/ Michael Runte
                                             -----------------------------------
                                      Name:    Michael Runte
                                               ---------------------------------
                                      Title:   Director
                                               ---------------------------------

                                      BRINK INTERNATIONAL B.V.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK SVERIGE AB

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK U.K. LIMITED

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                     Annex A
                                    Page 116
<Page>

                                      BRINK NORDISK HOLDINGS APS

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK POLSKA SP Z.O.O.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK FRANCE S.A.R.L.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      ELLEBI S.R.L.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      NORDISK KOMPONENT HOLDINGS A/S

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                     Annex A
                                    Page 117
<Page>

                                      SOCIETE DE FABRICATION
                                      D'EQUIPEMENTS ET D'ACCESSOIRES SA

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK TREKHAKEN B.V.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      BRINK A/S

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      SCI L'ELMONTAISE

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                      CHAAS HOLDINGS II B.V.

                                      By:    /s/ Jan Willem Rengelink
                                             -----------------------------------
                                      Name:    Jan Willem Rengelink
                                               ---------------------------------
                                      Title:
                                               ---------------------------------

                                     Annex A
                                    Page 118
<Page>

                               AGENT AND INTIAL LENDER:

                                      GENERAL ELECTRIC CAPITAL CORPORATION,
                                      as Agent and a Lender

                                      By:    /s/ Frederick T. Yanni
                                             -----------------------------------
                                             Its Duly Authorized Signatory

                                     Annex A
                                    Page 119

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