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EXHIBIT 10.117    
  

        [ COMPANY LETTERHEAD ]

May 9,
2002 

Southwall
Technologies Inc.

1029 Corporation Way

Palo Alto, CA 94303 

	ATTN:	Thomas G. Hood

President and Chief Executive Officer

Dear
Mr. Hood: 

This
letter is written with references to the Guarantee Agreement dated as of May 6, 1997, between Southwall Technologies, Inc. ("STI") and Teijin Limited ("Teijin") as amended in August 1999
by Memorandum between STI and Teijin (such Guarantee, as amended, the "Guarantee Agreement"). 

STI
has advised Teijin that, as of December 31, 2001 and March 31, 2002, it was not in compliance with the Minimum Quick Ratio, Tangible Net Worth Amount and Maximum Debt/Tangible Net
Worth of the financial covenants in Article 4-1(1) of the Guarantee Agreement. STI has requested that Teijin waive STI's non-compliance through September 30, 2003, including, without
limitation, the measurement periods ending on December 31, 2001 and March 31, 2002. 

Subject
to the conditions set forth below, this will confirm that Teijin hereby waives any defaults under Article 5.1 of the Guarantee Agreement that may exist through and including
September 30, 2003, arising out of STI's failure to comply with the financial covenants of the Minimum Quick Ratio, Tangible Net Worth Amount and Maximum Debt Tangible Net Worth in
Article 4-(1) of the Guarantee Agreement. 

This
waiver does not apply to any period after September 30, 2003, after which Teijin shall be entitled to enforce its rights under the Guarantee Agreement with respect to STI's non-compliance
with one or more of such covenants for the any measurement period starting after September 30, 2003. This waiver is solely and exclusively for the purpose of the Guarantee Agreement and without
prejudice to any other rights that Teijin has or may have against STI. 

In
addition, this waiver is conditioned on STI's agreement that, 1) in the event that is issues new capital to third parties in a public offering of its equity securities at any time prior to
September 30, 2003, STI shall apply $2.5 million of the proceeds of the offering to the prepayment of the 2004 installments of the Sanwa loan and 2) in the event that it issues new
capital to third parties in one or more transactions other than a public offering of its equity securities at any time prior to September 30, 2003, STI shall apply 10% of the aggregate proceeds
of such offerings to the prepayment of the 2004 installments of the Sanwa loan. STI hereby confirms its obligation to make scheduled payments in accordance with the terms of the Sanwa loan. 

   

Very truly yours, 

Teijin
Limited 

/s/
Y. Kobayashi 

By
Yakio Kobayashi

    Assistant to General Manager 

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EXHIBIT 10.118    
  

[SOUTHWALL
TECHNOLOGIES LETTERHEAD] 

	Via:
	E-mail  Shunji_Endo@ufjbank.co.jp
  Facsimile (415) 788-5459 

May 15,
2002 

Mr. Naoto
Shiraiwa

Vice President & Manager

UFJ Bank

One Front Street, Suite 1800

San Francisco, California 94111

U.S.A. 

Re:
Credit Agreement dated as of May 6, 1997 between Southwall Technologies Inc. ("STI") and the Sanwa Bank Limited ("Credit Agreement"), and to the First Amendment to the Credit
Agreement dated November 8, 1999 between Southwall Technologies Inc. and the Sanwa Bank Limited. 

Dear
Mr. Shiraiwa, 

On
May 9, 2002, Teijin waived any defaults under Article 5.1 of the Guarantee Agreement that may exist through and including September 30, 2003 arising out of STI's failure to
comply with the financial covenants of the Minimum Quick Ratio, Tangible Net Worth Amount and Maximum Debt/Tangible Net Worth in article 4-(1) of the Guarantee Agreement. A copy of that waiver
is attached as Exhibit A of this letter. 

Southwall
Technologies respectively requests the UFJ Bank Limited (formerly Sanwa Bank Limited) waive any Default or Event of Default pursuant to Section 7.01(h) of the above referenced Credit
Agreement for STI's failure to comply with the above terms of the Teijin Guaranty Agreement. 

Your
agreement to acknowledge that Teijin's waiver is sufficient to remedy the default in the above referenced Credit Agreement will allow Southwall to classify a portion of its debt to UFJ Bank as
long term debt in its 10-Q filing. This 10-Q will be added to the amended S-1 filed with the SEC for the sale of additional shares of its Common Stock. 

Thank
you for your consideration of this request. 

Sincerely,

/s/  THOMAS G. HOOD      

Thomas
G. Hood

President and Chief Executive Officer 

Enclosure 

Acknowledged: 

	/s/  NAOTO SHIRAIWA      
 Signed

UFJ Bank Ltd.	 	May 16, 2002
 Date

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EXHIBIT 10.118<Page>

                                                                    EXHIBIT 10.9

                       THIRD AMENDMENT TO CREDIT AGREEMENT

          THIRD AMENDMENT TO CREDIT AGREEMENT (this "THIRD AMENDMENT"), dated as
of October 4, 2001, by and among BUHRMANN N.V., a public limited liability
company (NAAMLOZE VENNOOTSCHAP) organized under the laws of The Netherlands,
with official seat in Maastricht, The Netherlands (the "PARENT"), Buhrmann US
Inc., a Delaware corporation (the "BORROWER"), the various Lenders party to the
Credit Agreement referred to below, DEUTSCHE BANK SECURITIES INC., as lead
arranger and sole book manager (in such capacities, the "LEAD ARRANGER"),
PARIBAS, as syndication agent (in such capacity, the "SYNDICATION AGENT"), ABN
AMRO BANK N.V., as documentation agent (in such capacity, the "DOCUMENTATION
AGENT"), and BANKERS TRUST COMPANY, as administrative agent (in such capacity,
the "ADMINISTRATIVE AGENT" and, together with the Lead Arranger, the Syndication
Agent and the Documentation Agent, collectively, the "AGENTS"). All capitalized
terms used herein and not otherwise defined shall have the respective meanings
provided such terms in the Credit Agreement referred to below.

                              W I T N E S S E T H:

          WHEREAS, the Parent, the Borrower, the Lenders and the Agents are
parties to a Credit Agreement, dated as of October 26, 1999 (as amended,
modified or supplemented to, but not including, the date hereof, the "EXISTING
CREDIT AGREEMENT" and, as amended, modified or supplemented from time to time,
including on the date hereof, the "CREDIT AGREEMENT");

          WHEREAS, the parties hereto wish to amend, modify and supplement the
Existing Credit Agreement as herein provided;

          NOW, THEREFORE, it is agreed:

I.   AMENDMENTS, MODIFICATIONS AND CONSENTS TO THE CREDIT AGREEMENT.

          1.   On and after the Third Amendment Effective Date, Section
9.05(xii) of the Credit Agreement is hereby amended by (i) inserting the text
"(A)" immediately preceding the text "the Parent" appearing at the beginning of
said section and (ii) inserting the text "and (B) Wholly-Owned Subsidiaries may
make cash equity investments (including, for this purpose, preferred equity
investments) in Non-Guarantor Subsidiaries (x) to the extent all proceeds of
such equity investment are immediately thereafter used by such Non-Guarantor
Subsidiary to repay in cash outstanding Intercompany Loans in a like amount
previously made by a Qualified Obligor (and otherwise permitted hereunder) to
such Non-Guarantor Subsidiary and (y) so long as any Equity Interest issued as
consideration for such equity investment is promptly pledged to the Collateral
Agent for the benefit of the Secured Creditors to the extent required by Section
8.15 of the Credit Agreement or any Pledge Agreement" immediately prior to the
semicolon appearing at the end of said section.

          2.   On and after the Third Amendment Effective Date, Section 9.12(a)
of the Credit Agreement is hereby amended by inserting the text "to convert
Buhrmann France S.A.

<Page>

from a SOCIETE ANONYME to a SOCIETE EN NOM COLLECTIF or" immediately following
the word "or" appearing at end of the proviso in subclause (v) thereof.

          3.   Notwithstanding anything to the contrary contained in the Credit
Documents, the Lenders hereby consent to the release by the Collateral Agent of
the shares of Buhrmann France S.A., pledged pursuant to the Pledge Agreement,
dated as of October 28, 1999, between the Collateral Agent and Buhrmann
International B.V. to permit the conversion of Buhrmann France S.A. from a
SOCIETE ANONYME to a SOCIETE EN NOM COLLECTIF, so long as the Borrower promptly
thereafter causes the equity interests in the newly formed SOCIETE EN NOM
COLLECTIF to be pledged to the Collateral Agent for the benefit of the Secured
Creditors pursuant to a pledge agreement and related documentation satisfactory
to the Collateral Agent.

          4.   Notwithstanding anything to the contrary contained in the Credit
Documents, the Lenders hereby consent to the release by the Collateral Agent of
the shares of Nimsa S.A. ("NIMSA"), pledged pursuant to the Pledge Agreement,
dated as of March 16, 2000, between the Collateral Agent and Buhrmann
International B.V., and the transfer of the equity interests of Nimsa from
Buhrmann International B.V. to Buhrmann France ("BUHRMANN FRANCE"), it being
understood and agreed that Buhrmann France (or a Non-Guarantor Subsidiary which
acquires the equity interests of Nimsa in accordance with the terms of the
Credit Documents) will not be required to pledge the equity interests of Nimsa
to the Collateral Agent for the benefit of the Secured Creditors until such time
as Buhrmann France (or such other Non-Guarantor Subsidiary) is required to
become party to a pledge agreement pursuant to the terms of the Credit
Documents.

          5.   Notwithstanding anything to the contrary contained in the Credit
Documents, the Lenders hereby consent to the transfer of the equity interests of
Corporate Express Nederland B.V. ("CE NL") from Corporate Express Benelux B.V.
("CE BV") to Burhmann Nederland B.V. ("BN BV"), it being understood and agreed
that BN BV will not be required to take any further action to perfect or
otherwise create a security interest in the equity interests of CE NL so long as
BN NV consummates, on or before April 30, 2002 (or such later date as shall be
agreed upon by Buhrmann and the European Commission), a transaction for the sale
of all of the equity and/or assets of CE NL in compliance with the divestiture
agreement previously reached by Buhrmann with the European Commission in
connection with the Samas OS Business Acquisition.

II.  MISCELLANEOUS.

          1.   In order to induce the Lenders to enter into this Third
Amendment, each of the Parent and the Borrower hereby represents and warrants to
each of the Lenders that (i) all representations and warranties contained in the
Credit Agreement and in the other Credit Documents are true and correct in all
material respects on and as of the Third Amendment Effective Date and after
giving effect to this Third Amendment (unless such representations and
warranties relate to a specific earlier date, in which case such representations
and warranties shall be true and correct as of such earlier date) and (ii) there
exists no Default or Event of Default on the Third Amendment Effective Date
after giving effect to this Third Amendment.

                                       -2-
<Page>

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

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

          4.   THIS THIRD AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW
OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

          5.   This Third Amendment shall become effective on the date (the
"THIRD AMENDMENT EFFECTIVE DATE") when each of the Parent, the Borrower and the
Required Lenders shall have signed a counterpart hereof (whether the same or
different counterparts) and shall have delivered (including, without limitation,
by usage of facsimile transmission) same to the Administrative Agent at its
office located at 130 Liberty Street, New York, New York. This Third Amendment
and the agreements contained herein shall be binding on the successors and
assigns of the parties hereto.

          6.   From and after the Third Amendment Effective Date, all references
in the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement as amended,
modified or supplemented hereby.

                                      * * *

                                       -3-
<Page>

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

                                 BUHRMANN N.V.

                                 By: /s/ FHJ Koffrie
                                     --------------------------------
                                     Name:  FHJ Koffrie
                                     Title:

                                 By: /s/ Heidi Van Den Kooij
                                     --------------------------------
                                     Name: Heidi Van Den Kooij
                                     Title:

                                 BUHRMANN US INC.

                                 By: /s/ FHJ Koffrie
                                     --------------------------------
                                     Name: FHJ Koffrie
                                     Title:

                                 By: /s/ Heidi Van Den Kooij
                                     -------------------------------
                                     Name: Heidi Van Den Kooij
                                     Title:

<Page>

                                 BANKERS TRUST COMPANY,
                                     Individually and as Administrative Agent

                                 By: /s/ Susan L. LeFevre
                                     --------------------------------------
                                     Name:  Susan L. LeFevre
                                     Title: Director

                                 DEUTSCHE BANK SECURITIES INC.,
                                     as Lead Arranger and Sole Book Manager

                                 By: /s/ Sean C. Murphy
                                     --------------------------------------
                                     Name: Sean C. Murphy
                                     Title: Vice President

<Page>

                                 BNP PARIBAS (successor in interest to Paribas),
                                     Individually and as Syndication Agent

                                 By: /s/ Susan Bowes
                                     --------------------------------------
                                     Name:  Susan Bowes
                                     Title: Director

                                 By: /s/ Eric Toizer
                                     --------------------------------------
                                     Name:  Eric Toizer
                                     Title: Director

<Page>

                                 ABN AMRO BANK N.V.,
                                     Individually and as Documentation Agent

                                 By: /s/ F.L.D. Nivaro
                                     ----------------------------------------
                                     Name:  F.L.D. Nivaro
                                     Title: SENIOR VICE PRESIDENT

                                 By: /s/ G.W. Bos
                                     ----------------------------------------
                                     Name:  G.W. Bos
                                     Title: Account Manager

<Page>

                                 LANDMARK CDO LIMITED

                                 By: /s/ Thomas Eggenschwiler
                                     ----------------------------------------
                                     Name:  Thomas Eggenschwiler
                                     Title: Vice President

<Page>

                                 TARA HILL B.V.

                                 By: /s/ Denal Daly
                                     ----------------------------------------
                                     Name:  Denal Daly
                                     Title: CDO DIRECTOR

<Page>

                                 AIB CAPITAL MARKETS

                                 By: /s/ Billy Morgan
                                     ----------------------------------------
                                     Name:  BILLY MORGAN
                                     Title: DIRECTOR AIB ACQUISITION FINANCE

<Page>

                                 CENTURION CDO I, LTD.
                                 By:  American Express Asset Management
                                 Group Inc. As Collateral Manager

                                 By: /s/ Steven B. Staver
                                     ----------------------------------------
                                     Name:  Steven B. Staver
                                     Title: Managing Director

<Page>

                                 CENTURION CDO II, LTD.
                                 By:  American Express Asset Management
                                 Group Inc. As Collateral Manager

                                 By: /s/ Steven B. Staver
                                     ----------------------------------------
                                     Name:  Steven B. Staver
                                     Title: Managing Director

<Page>

                                 CENTURION CDO III, LTD.
                                 By:  American Express Asset Management
                                 Group Inc. As Collateral Manager

                                 By: /s/ Steven B. Staver
                                     ----------------------------------------
                                     Name:  Steven B. Staver
                                     Title: Managing Director

<Page>

                                 SEQUILS-CENTURION V, LTD.
                                 By:  American Express Asset Management
                                 Group Inc. As Collateral Manager

                                 By: /s/ Steven B. Staver
                                     ----------------------------------------
                                     Name:  Steven B. Staver
                                     Title: Managing Director

<Page>

                                 ARES III CLO Ltd.

                                 By:   ARES CLO Management, LLC
                                 Its:  Investment Manager

                                 By: /s/ David A. Sachs
                                       --------------------------------------
                                 Name:  David A Sachs
                                 Title: Vice President

<Page>

                                 ARES IV CLO LTD.

                                 By:  Ares CLO Management IV, L.P.
                                      Investment Manager

                                 By:  Ares CLO GP IV, LLC
                                 Its: Managing Member

                                 By: /s/ David A. Sachs
                                       --------------------------------------
                                 Name:  David A. Sachs
                                 Title: Vice President

<Page>

                                 AXA Investment Managers for and on
                                 behalf of CONCERTO I B.V.

                                 By: /s/ N. Savey
                                     ----------------------------------------
                                     Name: N. Savey
                                     Title:

                                 By: /s/ J. Rallo
                                     ----------------------------------------
                                     Name:  J. Rallo
                                     Title:

<Page>

                                 PINEHURST TRADING, INC.

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Assistant Vice President

<Page>

                                 GLENEAGLES TRADING LLC

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Assistant Vice President

<Page>

                                 SRV - HIGHLAND, INC.

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Assistant Vice President

<Page>

                                 PPM SPYGLASS FUNDING TRUST

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Authorized Agent

<Page>

                                 MUIRFIELD TRADING LLC

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Assistant Vice President

<Page>

                                 OLYMPIC FUNDING TRUST SERIES 1999-1

                                 By: /s/ Ann E. Morris
                                     ----------------------------------------
                                     Name:  Ann E. Morris
                                     Title: Authorized Agent

<Page>

                                 THE BANK OF NEW YORK

                                 By: /s/ Robert Besser
                                     ----------------------------------------
                                     Name:  Robert Besser
                                     Title: Vice President

<Page>

                                 BANCO COMERCIAL PORTUGUES SA
                                 (London Branch)

                                 By: /s/ Graham Male
                                     ----------------------------------------
                                     Name:  Graham Male
                                     Title: Senior Manager

                                 By: /s/ Joao Bugalho
                                     ----------------------------------------
                                     Name:  Joao Bugalho
                                     Title: Deputy General Manager

<Page>

                                 BANK POLSKA KASA OPIEKI SA,
                                     NEW YORK BRANCH

                                 By: /s/ Barry W. Henry
                                     ----------------------------------------
                                     Name:  Barry W. Henry
                                     Title: Vice President

<Page>

                                 BARCLAYS BANK PLC

                                 By: /s/ H. Walkden
                                     ----------------------------------------
                                     Name:  MR. H. WALKDEN
                                     Title: ASSOCIATE DIRECTOR.

<Page>

                                 BAY VIEW FINANCIAL CORPORATION

                                 By: /s/ Sean M. Spring
                                     ----------------------------------------
                                     Name:  Sean M. Spring
                                     Title: Senior Vice President

<Page>

                                 BLUE EAGLE CDO I S.A.

                                 By: /s/ David Forbes-Nixon
                                     ----------------------------------------
                                     Name:  David Forbes-Nixon
                                     Title: Director

<Page>

                                 CITIBANK INTERNATIONAL PLC.,
                                     NETHERLANDS BRANCH

                                 By: /s/ Marcel Hanen
                                     ----------------------------------------
                                     Name:  Marcel Hanen
                                     Title: Resident Vice-President

<Page>

                                 CITIBANK, N.A.

                                 By: /s/ Brian Johnson
                                     ----------------------------------------
                                     Name:  Brian Johnson
                                     Title: Managing Director

<Page>

                                 COMERICA BANK

                                 By: /s/ George S. Ghareeb
                                     ----------------------------------------
                                     Name:  George S. Ghareeb
                                     Title: Vice President

<Page>

                                 COOPERATIEVE CENTRALE RAIFFEISEN
                                 BOERENLEENBANK B.A.

                                 By: /s/ H.E. von Imhoff
                                     ----------------------------------------
                                     Name:  H.E. von Imhoff

                                 By: /s/ C. de Vries
                                     ----------------------------------------
                                     Name:  C. de Vries
                                     Title:

<Page>

"Signature page of Creditanstalt AG to the Third Amendment To The Credit
Agreement, dated as of October 4, 2001, by and among (a) BUHRMANN N.V., (b)
Buhrmann US Inc., (c) the various Lenders party to the Credit Agreement dated as
of October 26, 1999, and (d) others".

                                 CREDITANSTALT AG

                                 By: /s/ Gernot Heschl
                                     ----------------------------------------
                                     Name:  Gernot Heschl
                                     Title: GENERAL MANAGER

                                 By: /s/ Thomas Klemmer
                                     ----------------------------------------
                                     Name:  Thomas Klemmer
                                     Title: SENIOR MANAGER

<Page>

                                 CREDIT INDUSTRIEL ET COMMERCIAL

                                 By: /s/ Yann de SAINT POL
                                     ----------------------------------------
                                     Name:  Yann de SAINT POL
                                     Title: Fonde de pouvoirs

                                 By: /s/ Alain MERLE d'AUBIGNE
                                     ----------------------------------------
                                     Name:  Alain MERLE d'AUBIGNE
                                     Title: Sous-Directeur

<Page>

                                 CYPRESSTREE INVESTMENT PARTNERS I, LTD

                                 By: CypressTree Investment Management
                                 Company, Inc. as Portfolio Manager

                                 By: /s/ Jonathan D. Sharkey
                                     ----------------------------------------
                                     Name:  Jonathan D. Sharkey
                                     Title: Principal

                                 CYPRESSTREE INVESTMENT PARTNERS II, LTD

                                 By: CypressTree Investment Management
                                 Company, Inc. as Portfolio Manager

                                 By: /s/ Jonathan D. Sharkey
                                     ----------------------------------------
                                     Name:  Jonathan D. Sharkey
                                     Title: Principal

                                 CYPRESSTREE INVESTMENT
                                 MANAGEMENT COMPANY, INC.
                                 As: Attorney-in-Fact and on behalf of First
                                 Allmerica Life Insurance Company as Portfolio
                                 Manager

                                 By: /s/ Jonathan D. Sharkey
                                     ----------------------------------------
                                 Name:  JONATHAN D. SHARKEY
                                 Title:      PRINCIPAL

<Page>

                                 DANSKE BANK A/S

                                 By: /s/ Henrik Hoffman
                                     ----------------------------------------
                                     Name:  Henrik Hoffman
                                     Title: ASSISTANT GENERAL MANAGER

                                 By: /s/ Trevor Cox
                                     ----------------------------------------
                                     Name:  TREVOR COX
                                     Title: MANAGER

<Page>

                                 EUROCREDIT CDO I B.V.

                                 By: /s/ Sara Halbard
                                     ----------------------------------------
                                     Name:  Sara Halbard

                                 By:
                                     ----------------------------------------
                                     Name:
                                     Title:

<Page>

                                 EUROCREDIT CDO II B.V.

                                 By: /s/ Sara Halbard
                                     ----------------------------------------
                                     Name:  Sara Halbard

                                 PROMUS I B.V.

                                 By: /s/ Sara Halbard
                                     ----------------------------------------
                                     Name:  Sara Halbard

<Page>

                                 FRANKLIN CLO I, LTD.

                                 By: /s/ Chauncey Lufkin
                                     -----------------------------------------
                                     Name: Chauncey Lufkin
                                     Title: Vice President

<Page>

                                 FRANKLIN FLOATING RATE TRUST

                                 By: /s/ Chauncey Lufkin
                                     -----------------------------------------
                                     Name:  Chauncey Lufkin
                                     Title: Vice President

<Page>

                                 FORTIS CAPITAL CORP.

                                 By: /s/ John C. Preveth
                                     -----------------------------------------
                                     Name:  John C. Preveth
                                     Title: Executive Vice President

                                 By: /s/ John C. Preneta
                                     -----------------------------------------
                                 Name:  John C. Preneta
                                 Title: Executive Vice President

<Page>

                                 GENERAL ELECTRIC CAPITAL CORPORATION

                                 By: /s/ W. Jerome McDermott
                                     -----------------------------------------
                                     Name:  W. JEROME McDERMOTT
                                     Title: DULY AUTHORIZED SIGNATORY

<Page>

                                 HARBOURMASTER LOAN CORPORATION B.V.

                                 By: /s/ TMF Management B.V.
                                     -----------------------------------------
                                     Name: TMF Management B.V.

<Page>

                                 EMERALD ORCHARD LIMITED

                                 By: /s/ Susan K. Strong
                                     -----------------------------------------
                                     Name: Susan K. Strong
                                     Title: Attorney in Fact

<Page>

                                 HIGHLAND LOAN FUNDING V LTD.
                                 By: Highland Capital Management, L.P. as
                                     Collateral Manager

                                 By: /s/ Mark K. Okada, CFA
                                     -----------------------------------------
                                     Name:  Mark K. Okada, CFA
                                     Title: Executive Vice President
                                            Highland Capital Management, L.P.

<Page>

                                 HIGHLAND LEGACY LIMITED
                                 By: Highland Capital Management, L.P. as
                                     Collateral Manager

                                 By: /s/ Mark K. Okada
                                     -----------------------------------------
                                     Name:  Mark K. Okada, CFA
                                     Title: Executive Vice President
                                            Highland Capital Management, L.P.

<Page>

                                 ELF FUNDING TRUST I
                                 By: Highland Capital Management, L.P. as
                                     Collateral Manager

                                 By: /s/ Mark K. Okad
                                     -----------------------------------------
                                     Name:  Mark K. Okada, CFA
                                     Title: Executive Vice President
                                            Highland Capital Management, L.P.

<Page>

                                 ING BANK N.V.

                                 By: /s/ M.G.L. Bunker
                                     -----------------------------------------
                                     Name:  M.G.L. Bunker
                                     Title: Relationship manager

                                 By: /s/ Victor Macrae
                                     -----------------------------------------
                                     Name:  Victor Macrae
                                     Title: Relationship manager

<Page>

                                 IKB DEUTSCHE INDUSTRIEBANK AG,
                                   LUXEMBOURG BRANCH

                                 By: /s/ Ana Bohorquez
                                     -----------------------------------------
                                     Name: Ana Bohorquez
                                     Title: Assistant Director

                                 By: /s/ Anja Keuchel
                                     -----------------------------------------
                                     Name: Anja Keuchel
                                     Title: Manager

<Page>

                                 KBC BANK NV

                                 By: /s/ Eugene Dekker
                                     -----------------------------------------
                                     Name:  Eugene Dekker
                                     Title: Director Corporates

                                 By: /s/ N.A.M. Waaijer
                                     -----------------------------------------
                                     Name: N.A.M. Waaijer
                                     Title: Senior Account Manager
                                            Corporate Clients

<Page>

                                 KZH CYPRESSTREE-1 LLC

                                 By: /s/ Susan Lee
                                 ---------------------------------------------
                                 Name:     Susan Lee
                                 Title: Authorized Agent

<Page>

                                 KZH ING-1 LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH ING-2 LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:    Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH ING-3 LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH PONDVIEW LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH STERLING LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH WATERSIDE LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 KZH HIGHLAND-2 LLC

                                 By: /s/ Susan Lee
                                     -----------------------------------------
                                     Name:     Susan Lee
                                     Title: Authorized Agent

<Page>

                                 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
                                 By: David L. Babson and Company,
                                     Incorporated, under delegated authority
                                     from Massachusetts Mutual Life Insurance
                                     Company, as Investment Manager

                                 By: /s/ Mary Ann McCarthy
                                     -----------------------------------------
                                     Name:  Mary Ann McCarthy
                                     Title: Managing Director

<Page>

                                 MAPLEWOOD (CAYMAN) LIMITED
                                 By: David L. Babson and Company,
                                     Incorporated, under delegated authority
                                     from Massachusetts Mutual Life Insurance
                                     Company, as Investment Manager

                                 By: /s/ Mary Ann McCarthy
                                     -----------------------------------------
                                     Name:  Mary Ann McCarthy
                                     Title: Managing Director

<Page>

                                 SIMSBURY CLO, LIMITED
                                 By: David L. Babson and Company,
                                     Incorporated, under delegated authority
                                     from Massachusetts Mutual Life Insurance
                                     Company, as Collateral Manager

                                 By: /s/ Mary Ann McCarthy
                                     -----------------------------------------
                                     Name:  Mary Ann McCarthy
                                     Title: Managing Director

<Page>

                                 SUFFIELD CLO LTD.
                                 By: David L. Babson & Co., Inc.
                                     AS COLLATERAL MANAGER

                                 By: /s/ Mary Ann McCarthy
                                     -----------------------------------------
                                     Name:  Mary Ann McCarthy
                                     Title: MANAGING DIRECTOR

<Page>

                                 NATIONAL CITY BANK

                                 By: /s/ John Platek
                                     -----------------------------------------
                                     Name:  John Platek
                                     Title: Assistant Vice President

<Page>

                                 NATEXIS BANQUES POPULARIES

                                 By: /s/ Pieter J. van Tulder
                                     -----------------------------------------
                                     Name:  Pieter J. van Tulder
                                     Title: Vice President and Manager
                                            Multinational Group

                                 By: /s/ Christine Dirringer
                                     -----------------------------------------
                                     Name: Christine Dirringer
                                     Title: V.P.

<Page>

                                 NIB CAPITAL BANK N.V.

                                 By: /s/ Tim Crossley
                                     -----------------------------------------
                                     Name: Tim Crossley
                                     Title: DIRECTOR, ACQUISITION FINANCE

                                 By: /s/ Sean Casteno
                                     -----------------------------------------
                                     Name: Sean Casteno
                                     Title: SENIOR MANAGER

<Page>

                                 ORIX FINANCIAL SERVICES, INC. f/k/a
                                   ORIX BUSINESS CREDIT, INC.

                                 By: /s/ Michael J. Cox
                                     -----------------------------------------
                                     Name:  Michael J. Cox
                                     Title: Senior Vice President, OBCG

<Page>

                                 PILGRIM CLO 1999-1 LTD.
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 PILGRIM SENIOR INCOME FUND
                                 By: Pilgrim Investments, Inc., as its
                                     investment manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 PILGRIM PRIME RATE TRUST
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 PILGRIM AMERICA HIGH INCOME INVESTMENTS LTD.
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 ML CLO XII PILGRIM AMERICA (CAYMAN) LTD.
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 ML CLO XV PILGRIM AMERICA (CAYMAN) LTD.
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 ML CLO XX PILGRIM AMERICA (CAYMAN) LTD.
                                 By: Pilgrim Investments, Inc., as Investment
                                     Manager

                                 By: /s/ Michel Prince
                                     -----------------------------------------
                                     Name:  MICHEL PRINCE, CFA
                                     Title: VICE PRESIDENT

<Page>

                                 PRINCIPAL LIFE INSURANCE COMPANY

                                 By: Principal Capital Management, LLC,
                                     a Delaware limited liability company,
                                     its authorized signatory

                                 By: /s/ John Heiny
                                     -----------------------------------------

                                       -----------------------------------------

                                 By: /s/ James C. Fifield
                                     -----------------------------------------
                                 Its: JAMES C. FIFIELD, Counsel
                                      ----------------------------------------

<Page>

                                           PROSPECT INTERNATIONAL DEBT
                                             STRATEGY FUND

                                 By: /s/ Richard E. Omohundro
                                     -----------------------------------------
                                 Name:  Richard E. Omohundro

<Page>

                                 PROVIDENT CBO, I LIMITED
                                 By: Provident Investment Management, LLC
                                     as Collateral Manager

                                 By: /s/ Ben S. Miller
                                     -----------------------------------------
                                     Name: BEN S. MILLER
                                     Title: Vice President

<Page>

                                 THE PRUDENTIAL ASSURANCE COMPANY LIMITED

                                 By: /s/ Andrew Boughen
                                     -----------------------------------------
                                     Name:  ANDREW BOUGHEN
                                     Title: DIRECTOR OF LEVERAGED LOANS

                                 By: /s/ Mike Ramsey
                                     -----------------------------------------
                                     Name: Mike Ramsey
                                     Title: Director

<Page>

                                 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

                                 By: /s/ B. Ross Smead
                                     -----------------------------------------
                                     Name: B. Ross Smead
                                     Title: Vice President

<Page>

                                 SANKATY HIGH YIELD ASSET PARTNERS, L.P.

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------

                                 Name: Diane J. Exter
                                       ---------------------------------------

                                 Title: Managing Director, Portfolio Manager
                                        --------------------------------------

<Page>

                                 SANKATY HIGH YIELD PARTNERS II, L.P.

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------

                                 Name: Diane J. Exter
                                       ---------------------------------------

                                 Title: Managing Director, Portfolio Manager
                                        --------------------------------------

<Page>

                                 SANKATY HIGH YIELD PARTNERS III, LP

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------
                                     Name:    DIANE J. EXTER
                                     Title: MANAGING DIRECTOR
                                            PORTFOLIO MANAGER

<Page>

                                 Sankaty Advisors, Inc., as Collateral Manager
                                 for
                                 BRANT POINT CBO 1999-1, LTD., as Term Lender

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------

                                 Name: Diane J. Exter
                                       ---------------------------------------

                                 Title: Managing Director, Portfolio Manager
                                        --------------------------------------

<Page>

                                 Sankaty Advisors, LLC as Collateral Manager
                                 for
                                 BRANT POINT II CBO 2000-1, LTD., as Term
                                 Lender

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------

                                 Name: Diane J. Exter
                                       ---------------------------------------

                                 Title: Managing Director, Portfolio Manager
                                        --------------------------------------

<Page>

                                 Sankaty Advisors, Inc. as Collateral Manager
                                 for Great Point CLO 1999-1 LTD., as Term
                                 Lender

                                 By: /s/ Diane J. Exter
                                     -----------------------------------------

                                 Name: Diane J. Exter
                                       ---------------------------------------

                                 Title: Managing Director, Portfolio Manager
                                        --------------------------------------

<Page>

                                 SCOTIABANK EUROPE PLC

                                 By: /s/ J.A. Flexer
                                     -----------------------------------------
                                     Name: J.A. Flexer
                                     Title: DIRECTOR

<Page>

                                 STANFIELD ARBITRAGE CDO, LTD.
                                 By: Stanfield Capital Partners LLC, as
                                     Collateral Manager

                                 By: /s/ Christopher E. Jansen
                                     -----------------------------------------
                                     Name:  Christopher E. Jansen
                                     Title: Managing Partner

<Page>

                                 STANFIELD CLO, LTD.
                                 By: Stanfield Capital Partners LLC, as
                                     Collateral Manager

                                 By: /s/ Christopher E. Jansen
                                     -----------------------------------------
                                     Name:  Christopher E. Jansen
                                     Title: Managing Partner

<Page>

                                 STANFIELD RMF/TRANSATLANTIC CDO, LTD.
                                 By: Stanfield Capital Partners LLC, as
                                     Collateral Manager

                                 By: /s/ Christopher E. Jansen
                                     -----------------------------------------
                                     Name:  Christopher E. Jansen
                                     Title: Managing Partner

                                 North American Senior Floating Rate Fund Inc.
                                     By: Stanfield Capital Partners LLC
                                                 As Subadvisor

                                 By: /s/ Christopher E. Jansen
                                     -----------------------------------------
                                     Name:  Christopher E. Jansen
                                     Title: Managing Partner

<Page>

                                 WINDSOR LOAN FUNDING, LIMITED
                                    By: Stanfield Capital Partners LLC, as its
                                    Investment Manager

                                 By: /s/ Christopher E. Jansen
                                     -----------------------------------------
                                     Name:  Christopher E. Jansen
                                     Title: Managing Partner

<Page>

                                 TEXTRON FINANCIAL CORPORATION

                                 By: /s/ Stuart M. Schulman
                                     -----------------------------------------
                                     Name:  Stuart M. Schulman
                                     Title: Managing Director

<Page>

                                 TORONTO DOMINION BANK EUROPE LIMITED

                                 By: /s/ Trevor Bill
                                     -----------------------------------------
                                     Name:  TREVOR BILL
                                     Title: MANAGING DIRECTOR

<Page>

                                 U.S. BANK NATIONAL ASSOCIATION

                                 By: /s/ Wesley Zepelin
                                     -----------------------------------------
                                     Name: Wesley Zepelin
                                     Title: VP

<Page>

                     GUARANTORS BUHRMANN GROUP OCTOBER 2001

Acknowledged and Agreed to:

Brabantse Poort B.V.
Buhrmann Europcenter NV
Bouwmaatschappij Het Wapen van Amsterdam N.V.
Buhrmann Financieringen B.V. (f/k/a KNP BT Financieringen B.V.)
Buhrmann Fined B.V. (f/k/a Finbelco B.V.)
Buhrmann II B.V. (f/k/a KNP BT II B.V.)
Buhrmann International B.V.
Buhrmann Nederland B.V.
Buhrmann Nederland Holding B.V. (f/k/a Scadisbel B.V.)
Buhrmann Office Products Austria B.V.
Buhrmann Stafdiensten B.V.
Buhrmann-Ubbens B.V.
Corporate Express Benelux B.V. (f/k/a BT Office Products Nederland B.V.)
Corporate Express Beverwijk B.V. (f/k/a Blees van Os)
Corporate Express Document Automatisering B.V.
Corporate Express Europe B.V. (f/k/a BT Office Products Europe B.V.)
Corporate Express Holding B.V.
Corporate Express Nederland B.V. (f/k/a Kuipers Centrum voor Kantoorefficiency
  BV)
Deutschmann & Roelants B.V.
Dingler Kantoor Centrum B.V.
DocVision B.V.
Jonkers International B.V.
KNP Nederland (Holding) B.V.
KNP Nederland B.V.
Papiergroothandel v/h Riem & Honig B.V.
Papiermaatschappij Amsterdam-West B.V.
Proost en Brandt B.V.
Rhosili Amsterdam C.V.
Riem en Honig Beheer B.V.
Store Office Paper B.V.
Tetterode-Nederland B.V.
Tricom Paper International B.V.
Velpa Enveloppen B.V.
VRG Insurances B.V.

By: /s/ H. Van Den Kooij
    -------------------------------
    Name: H. Van Den Kooij
    Title: Director of Legal Affairs
    On behalf of each of the above
    Subsidiary Guarantors

<Page>

Acknowledged and Agreed to:

Buhrmann Beteiligungen Deutschland GmbH
Buhrmann Holding GmbH & Co. KG
Buhrmann Holding Verwaltungs GmbH
Corporate Express Deutschland GmbH (f/k/a Buhrmann Office Products Deutschland
  GmbH)
Corporate Express Deutschland GmbH & Co. Vertriebs KG (f/k/a Buhrmann
  Office Products GbmH & Co. Vertriebs KG)
Corporate Express GmbH (f/k/a Buroeinrichtungshaus Roth GmbH)
Corporate Express GmbH (f/k/a Keller Buromatic GmbH)
Corporate Express Verwaltungs GmbH (f/k/a Buhrmann Office Products Verwaltungs
  GbmH)
Deutsche Papier Grundstucks GmbH & Co. KG
Deutsche Papier Holding GmbH
Deutsche Papier Vertriebs GmbHGmbH & Co. KG
FSMA Verwaltungs-und Beteiligungs GmbH
Joseph Frohlen Papiergrosshandlung - Willi Reddemann Import Export GmbH

By: /s/ H. Van Den Kooij
    -------------------------------
    Name: H. Van Den Kooij
    Title:
    On Behalf of each of the above
    Subsidiary Guarantors

Acknowledged and Agreed to:

Buhrmann Europcenter N.V.

By: /s/ H. Van Den Kooij
-----------------------------------
    Name: H. Van Den Kooij
    Title:
    On Behalf of the above
    Subsidiary Guarantor

<Page>

Acknowledged and Agreed to:

Adhesive and Display Products Ltd.
Buhrmann UK Ltd.
Buhrmann Paper UK Ltd.
Contract Paper Ltd.
Copygraphic Plc.
Corporate Express (Holdings) Ltd.
Corporate Express Ltd.
Corporate Express UK Ltd.
Howard Smith Paper Ltd.
Pinnacle Film & Board Sales Ltd.
Ramchester Furnishings International Ltd.
Robert Horne Group Plc. (f/k/a Robert Horne Paper Company Ltd.)
Robert Horne UK Plc (f/k/a Robert Horne Group Plc.)
Savory Paper Ltd.
The Howard Smith Paper Group Ltd.
The M6 Paper Group Ltd.
Trade Paper Ltd.
W. Lunnon & Company Ltd.

By: /s/ H. Van Den Kooij
    -------------------------------
    Name: H. Van Den Kooij
    Title:
    On Behalf of each of the above
    Subsidiary Guarantors

<Page>

Acknowledged and Agreed to:

ASAP Software Express, Inc.
BTOP USA Corp.
BTOPI Holding (U.S.)
Buhrmann Swaps, Inc.
Corporate Express Delivery Systems - Expedited, Inc.
Corporate Express Document & Print Management Inc.
Corporate Express of Texas, Inc.
Corporate Express Office Products, Inc.
Corporate Express Philadelphia Real Estate, Inc.
Corporate Express Promotional Marketing, Inc.
Corporate Express Real Estate, Inc.
Corporate Express, Inc.
Distribution Resources Co.
Kelly Paper Company
License Technologies Group, Inc.

By: /s/ H. Van Den Kooij
    -------------------------------
    Name: H. Van Den Kooij
    Title:
    On Behalf of each of the above
    Subsidiary Guarantors

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