Document:

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                          REGISTRATION RIGHTS AGREEMENT
                            Dated as of June 4, 2002
                                 By and Between
                       MEDICIS PHARMACEUTICAL CORPORATION
                                 as the Company,
                                       and
                          DEUTSCHE BANK SECURITIES INC.
                            as the Initial Purchaser
                2.5% Contingent Convertible Senior Notes Due 2032
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                                TABLE OF CONTENTS

<TABLE>
<S>   <C>                                                                        <C>
1.    Definitions...........................................................      1

2.    Shelf Registration....................................................      4

3.    Liquidated Damages....................................................      6

4.    Registration Procedures...............................................      7

5.    Registration Expenses.................................................     13

6.    Indemnification.......................................................     14

7.    Rules 144 and 144A....................................................     18

8.    Underwritten Registrations............................................     18

9.    Miscellaneous.........................................................     18
</TABLE>
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                          REGISTRATION RIGHTS AGREEMENT

            This Registration Rights Agreement (this "AGREEMENT") is dated as of
June 4, 2002, by and between MEDICIS PHARMACEUTICAL CORPORATION, a Delaware
corporation (the "COMPANY"), and DEUTSCHE BANK SECURITIES INC. (the "INITIAL
PURCHASER").

            This Agreement is entered into in connection with that certain
Purchase Agreement, dated May 29, 2002 (the "PURCHASE AGREEMENT"), by and
between the Company and the Initial Purchaser, which provides for the sale by
the Company to the Initial Purchaser of $350,000,000 aggregate principal amount
of the Company's 2.5% Contingent Convertible Senior Notes Due 2032 (the "FIRM
SECURITIES"), which are convertible into Class A common stock of the Company,
par value $0.014 per share (together with the Rights (as defined in the Purchase
Agreement), the "UNDERLYING SHARES"), plus up to an additional $50,000,000
aggregate principal amount of the same which the Initial Purchaser may
subsequently elect to purchase pursuant to the terms of the Purchase Agreement
(the "OPTION SECURITIES" and together with the Firm Securities, the
"SECURITIES"). The Securities are being issued pursuant to an Indenture dated as
of the date hereof (the "INDENTURE"), by and between the Company and Deutsche
Bank Trust Company Americas, as trustee.

            In order to induce the Initial Purchaser to enter into the Purchase
Agreement, the Company has agreed to provide the registration rights set forth
in this Agreement for the benefit of the Initial Purchaser and certain
subsequent holder or holders of the Securities or Underlying Shares as provided
herein. The execution and delivery of this Agreement is a condition to the
Initial Purchaser's obligation to purchase the Firm Securities under the
Purchase Agreement.

            The parties hereby agree as follows:

1.    Definitions.  As used in this Agreement, the following terms shall have
the following meanings:

            AGREEMENT:  See the first introductory paragraph hereto.

            AMOUNT OF REGISTRABLE SECURITIES: (a) With respect to Securities
constituting Registrable Securities, the aggregate principal amount of all such
Securities outstanding, (b) with respect to Underlying Shares constituting
Registrable Securities, the aggregate number of such Underlying Shares
outstanding multiplied by the Conversion Price (as defined in the Indenture
relating to the Securities upon the conversion of which such Underlying Shares
were issued) in effect at the time of computing the Amount of Registrable
Securities or, if no such Securities are then outstanding, the last Conversion
Price that was in effect under such Indenture when any such Securities were last
outstanding, and (c) with respect to combinations thereof, the sum of (a) and
(b) for the relevant Registrable Securities.

            BUSINESS DAY:  Any day that is not a Saturday, Sunday or a day on
which banking institutions in New York are authorized or required by law to be
closed.

            CLOSING DATE:  June 4, 2002.
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            COMPANY:  See the first introductory paragraph hereto.

            DAMAGES PAYMENT DATE:  See Section 3(c) hereof.

            DEPOSITARY:  The Depository Trust Company until a successor is
appointed by the Company.

            EFFECTIVENESS DATE:  The 180th day after the Closing Date.

            EFFECTIVENESS PERIOD:  See Section 2(a) hereof.

            EXCHANGE ACT:  The Securities Exchange Act of 1934, as amended,
and the rules and regulations of the SEC promulgated thereunder.

            FILING DATE:  The 90th day after the Closing Date.

            HOLDER:  Any holder of Registrable Securities.

            INDEMNIFIED HOLDER:  See Section 6 hereof.

            INDEMNIFIED PERSON:  See Section 6 hereof.

            INDEMNIFYING PERSON:  See Section 6 hereof.

            INDENTURE:  See the second introductory paragraph hereto.

            INITIAL PURCHASER:  See the first introductory paragraph hereto.

            INITIAL SHELF REGISTRATION:  See Section 2(a) hereof.

            INSPECTORS:  See Section 4(n) hereof.

            LIQUIDATED DAMAGES:  See Section 3(a) hereof.

            NASD:  See Section 4(q) hereof.

            NOTICE AND QUESTIONNAIRE: means a written notice delivered to the
Company containing substantially the information called for by the Form of
Selling Securityholder Notice and Questionnaire attached as Appendix A to the
Offering Memorandum of the Company dated May 29, 2002 relating to the
Securities.

            PERSON: An individual, partnership, corporation, limited liability
company, unincorporated association, trust or joint venture, or a governmental
agency or political subdivision thereof.

            PROSPECTUS: The prospectus included in any Registration Statement
(including, without limitation, any prospectus subject to completion and a
prospectus that includes any information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or

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supplemented by any prospectus supplement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all
material incorporated by reference or deemed to be incorporated by reference in
such Prospectus.

            PURCHASE AGREEMENT:  See the second introductory paragraph hereto.

            QIU:  See Section 4(q) hereof.

            RECORDS:  See Section 4(n) hereof.

            REGISTRABLE SECURITIES: All Securities and all Underlying Shares
upon original issuance thereof and at all times subsequent thereto until the
earliest to occur of (i) a Registration Statement covering such Securities and
Underlying Shares having been declared effective by the SEC and such Securities
and Underlying Shares having been disposed of in accordance with such effective
Registration Statement, (ii) such Securities and Underlying Shares having been
sold in compliance with Rule 144 or could (except with respect to affiliates of
the Company within the meaning of the Securities Act) be sold in compliance with
Rule 144(k), or (iii) such Securities and any Underlying Shares ceasing to be
outstanding.

            REGISTRATION DEFAULT:  See Section 3(a) hereof.

            REGISTRATION STATEMENT: Any registration statement of the Company
filed with the SEC pursuant to the provisions of this Agreement, including the
Prospectus, amendments and supplements to such registration statement, including
post-effective amendments, all exhibits and all material incorporated by
reference or deemed to be incorporated by reference in such registration
statement.

            RULE 144: Rule 144 promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule (other than Rule
144A) or regulation hereafter adopted by the SEC providing for offers and sales
of securities made in compliance therewith resulting in offers and sales by
subsequent holders that are not affiliates of an issuer of such securities being
free of the registration and prospectus delivery requirements of the Securities
Act.

            RULE 144A: Rule 144A promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule (other than Rule 144)
or regulation hereafter adopted by the SEC.

            RULE 415: Rule 415 promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the SEC.

            SEC:  The Securities and Exchange Commission.

            SECURITIES:  See the second introductory paragraph hereto.

            SECURITIES ACT:  The Securities Act of 1933, as amended, and the
rules and regulations of the SEC promulgated thereunder.

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            SELLING HOLDER: On any date, any Holder that has delivered a
Notice and Questionnaire to the Company on or prior to such date.

            SHELF REGISTRATION:  See Section 2(b) hereof.

            SHELF REGISTRATION STATEMENT:  See Section 2(b) hereof.

            SUBSEQUENT SHELF REGISTRATION:  See Section 2(b) hereof.

            TIA:  The Trust Indenture Act of 1939, as amended, and the rules
and regulations of the SEC promulgated thereunder.

            TRUSTEE:  The Trustee under the Indenture.

            UNDERLYING SHARES:  See the second introductory paragraph hereto.

            UNDERWRITTEN REGISTRATION OR UNDERWRITTEN OFFERING: A registration
in which securities of the Company are sold to an underwriter for reoffering to
the public.

2.    Shelf Registration.
      -------------------

            (a) Shelf Registration. The Company shall file with the SEC a
Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415 covering all of the Registrable Securities (the "INITIAL SHELF
REGISTRATION") on or prior to the Filing Date.

            The Initial Shelf Registration shall be on Form S-3 or another
appropriate form permitting registration of such Registrable Securities for
resale by Holders in the manner or manners designated by them (including,
without limitation, one or more underwritten offerings). The Company shall not
permit any securities other than the Registrable Securities to be included in
the Initial Shelf Registration or any Subsequent Shelf Registration (as defined
below).

            The Company shall use all reasonable efforts to cause the Initial
Shelf Registration to be declared effective under the Securities Act on or prior
to the Effectiveness Date and to keep such Initial Shelf Registration
continuously effective under the Securities Act until the date that is two years
from the Closing Date (as it may be shortened pursuant to clause (i) or clause
(ii) immediately following, the "EFFECTIVENESS PERIOD"), or such shorter period
ending when (i) all of the Registrable Securities covered by the Initial Shelf
Registration have been sold in the manner set forth and as contemplated in the
Initial Shelf Registration, (ii) the date on which all the Registrable
Securities (x) held by Persons who are not affiliates of the Company may be
resold pursuant to Rule 144(k) under the Securities Act, or any successor
provision, or (y) cease to be outstanding, or (iii) a Subsequent Shelf
Registration covering all of the Registrable Securities has been declared
effective under the Securities Act.

            (b) Subsequent Shelf Registrations. If the Initial Shelf
Registration or any Subsequent Shelf Registration (as defined below) ceases to
be effective for any reason at any time during the Effectiveness Period (other
than because of the sale of all of the securities registered thereunder), the
Company shall use all reasonable efforts to obtain the prompt withdrawal of any
order suspending the effectiveness thereof, and in any event shall within 45

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days of such cessation of effectiveness amend the Initial Shelf Registration in
a manner to obtain the withdrawal of the order suspending the effectiveness
thereof, or file an additional "shelf" Registration Statement pursuant to Rule
415 covering all of the Registrable Securities (a "SUBSEQUENT SHELF
REGISTRATION"). If a Subsequent Shelf Registration is filed, the Company shall
use all reasonable efforts to cause the Subsequent Shelf Registration to be
declared effective under the Securities Act as soon as practicable after such
filing and to keep such Registration Statement continuously effective for a
period equal to the number of days in the Effectiveness Period less the
aggregate number of days during which the Initial Shelf Registration or any
Subsequent Shelf Registration was previously continuously effective. As used
herein, the term "SHELF REGISTRATION" means the Initial Shelf Registration and
any Subsequent Shelf Registration and the term "SHELF REGISTRATION STATEMENT"
means any Registration Statement filed in connection with a Shelf Registration.

            (c) Supplements and Amendments. The Company shall promptly
supplement and amend the Shelf Registration if required by the rules,
regulations or instructions applicable to the registration form used for such
Shelf Registration, if required by the Securities Act, or if reasonably
requested by the Holders of the majority in Amount of Registrable Securities
covered by such Registration Statement or by any underwriter of such Registrable
Securities.

            (d) Notice and Questionnaire. Each Holder agrees that if such Holder
wishes to sell Registrable Securities pursuant to a Shelf Registration Statement
and related Prospectus, it will do so only in accordance with this Section 2(d)
and Section 4 hereof. Each Holder wishing to sell Registrable Securities
pursuant to a Shelf Registration Statement and related Prospectus agrees to
deliver a Notice and Questionnaire to the Company at least three (3) Business
Days prior to any intended distribution of Registrable Securities under the
Shelf Registration Statement. From and after the date the Initial Shelf
Registration Statement is declared effective, the Company shall, as promptly as
practicable after the date a Notice and Questionnaire is delivered, and in any
event upon the later of (x) five (5) Business Days after such date or (y) five
(5) Business Days after the expiration of any Deferral Period in effect when the
Notice and Questionnaire is delivered or put into effect within five (5)
Business Days of such delivery date:

                  (i) if required by applicable law, file with the SEC a
post-effective amendment to the Shelf Registration Statement or prepare and, if
required by applicable law, file a supplement to the related Prospectus or a
supplement or amendment to any document incorporated therein by reference or
file any other required document so that the Holder delivering such Notice and
Questionnaire is named as a selling securityholder in the Shelf Registration
Statement and the related Prospectus in such a manner as to permit such Holder
to deliver such Prospectus to purchasers of the Registrable Securities in
accordance with applicable law and, if the Company shall file a post-effective
amendment to the Shelf Registration Statement, use all reasonable efforts to
cause such post-effective amendment to be declared effective under the
Securities Act as promptly as is practicable, but in any event by the date (the
"AMENDMENT EFFECTIVENESS DEADLINE DATE") that is forty-five (45) days after the
date such post-effective amendment is required by this clause to be filed;

                  (ii)  provide such Holder copies of any documents filed
pursuant to Section 2(d)(i); and

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                  (iii) notify such Holder as promptly as practicable after the
effectiveness under the Securities Act of any post-effective amendment filed
pursuant to Section 2(d)(i);

provided that if such Notice and Questionnaire is delivered during a Deferral
Period (as defined in Section 3(b)), the Company shall so inform the Holder
delivering such Notice and Questionnaire and shall take the actions set forth in
clauses (i), (ii) and (iii) above upon expiration of the Deferral Period.
Notwithstanding anything contained herein to the contrary, (i) the Company shall
be under no obligation to name any Holder that has not delivered a Notice and
Questionnaire to the Company in accordance with this Section 2(d) and (ii) the
Amendment Effectiveness Deadline Date shall be extended by up to ten (10)
Business Days from the expiration of a Deferral Period (and the Company shall
incur no obligation to pay Liquidated Damages during such extension) if such
Deferral Period shall be in effect on the Amendment Effectiveness Deadline Date.

3.    Liquidated Damages.

            (a) The Company and the Initial Purchaser agree that the Holders of
Registrable Securities will suffer damages if the Company fails to fulfill
certain of its obligations under Section 2 hereof and that it would not be
feasible to ascertain the extent of such damages with precision. Accordingly,
the Company agrees to pay liquidated damages on the Registrable Securities
("LIQUIDATED DAMAGES") under the circumstances and to the extent set forth below
(each of which shall be given independent effect; each a "REGISTRATION
DEFAULT"):

                  (i) if the Initial Shelf Registration is not filed on or prior
to the Filing Date, then commencing on the day after the Filing Date, Liquidated
Damages shall accrue on the Registrable Securities at a rate of 0.50% per annum
on the Amount of Registrable Securities;

                  (ii) if the Initial Shelf Registration is not declared
effective by the SEC on or prior to the Effectiveness Date, then commencing on
the day after the Effectiveness Date, Liquidated Damages shall accrue on the
Registrable Securities at a rate of 0.50% per annum on the Amount of Registrable
Securities; and

                  (iii) if a Shelf Registration has been declared effective and
such Shelf Registration ceases to be effective at any time during the
Effectiveness Period (other than as permitted under Section 3(b)), then
Liquidated Damages shall accrue on the Registrable Securities at a rate of 0.5%
per annum on the Amount of Registrable Securities;

provided, however, that Liquidated Damages on the Registrable Securities may not
accrue under more than one of the foregoing clauses (i), (ii) or (iii) at any
one time; and provided further, however, that (1) upon the filing of the Initial
Shelf Registration as required hereunder (in the case of clause (a)(i) of this
Section 3), (2) upon the effectiveness of the Initial Shelf Registration as
required hereunder (in the case of clause (a)(ii) of this Section 3), or (3)
upon the effectiveness of a Shelf Registration which had ceased to remain
effective (in the case of (a)(iii) of this Section 3), Liquidated Damages on the
Registrable Securities as a result of such clause (or the relevant subclause
thereof), as the case may be, shall cease to accrue. It is understood and agreed
that,

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notwithstanding any provision to the contrary, no Liquidated Damages shall
accrue on any Registrable Securities that are then covered by an effective Shelf
Registration Statement.

            (b) Notwithstanding paragraph (a) of this Section 3, the Company
shall be permitted to suspend the effectiveness of a Registration Statement
covering the Registrable Securities for any reason whatsoever for up to 30
consecutive days (the "DEFERRAL PERIOD") in any 90 day period, for a total of
not more than 90 days in any twelve-month period, without paying Liquidated
Damages.

            (c) So long as Securities remain outstanding, the Company shall
notify the Trustee within two Business Days after each and every date on which
an event occurs in respect of which Liquidated Damages is required to be paid.
Any amounts of Liquidated Damages due pursuant to clause (a)(i), (a)(ii) or
(a)(iii) of this Section 3 will be payable in cash semi-annually on each June 4
and December 4 (each, a "DAMAGES PAYMENT DATE"), commencing with the first such
date occurring after any such Liquidated Damages commences to accrue, to Holders
to whom regular interest is payable on such Damages Payment Date, with respect
to Securities that are Registrable Securities, and to Persons that are
registered Holders on the May 19 or November 19 immediately prior to a Damages
Payment Date with respect to Underlying Shares that are Registrable Securities.
The amount of Liquidated Damages for Registrable Securities will be determined
by multiplying the applicable rate of Liquidated Damages by the Amount of
Registrable Securities outstanding on the Damages Payment Date following such
Registration Default in the case of the first such payment of Liquidated Damages
with respect to a Registration Default (and thereafter at the next succeeding
Damages Payment Date until the cure of such Registration Default), multiplied by
a fraction, the numerator of which is the number of days such Liquidated Damages
rate was applicable during such period (determined on the basis of a 360-day
year comprised of twelve 30-day months and, in the case of a partial month, the
actual number of days elapsed), and the denominator of which is 360.

4.    Registration Procedures.

            In connection with the filing of any Registration Statement pursuant
to Section 2 hereof, the Company shall effect such registrations to permit the
sale of the securities covered thereby in accordance with the intended method or
methods of disposition thereof, and pursuant thereto and in connection with any
Registration Statement filed by the Company hereunder the Company shall:

            (a) Prepare and file with the SEC, on or prior to the Filing Date, a
Registration Statement or Registration Statements as prescribed by Section 2
hereof, and use all reasonable efforts to cause each such Registration Statement
to become effective and remain effective as provided herein; provided, however,
that before filing any Registration Statement or Prospectus or any amendments or
supplements thereto, the Company shall furnish to and afford the Holders of the
Registrable Securities covered by such Registration Statement and the managing
underwriter or underwriters, if any, a reasonable opportunity to review copies
of all such documents proposed to be filed (in each case, where possible, at
least five Business Days prior to such filing, or such later date as is
reasonable under the circumstances). The Company shall not file any Registration
Statement or Prospectus or any amendments or supplements thereto if the Holders
of a majority in Amount of Registrable Securities covered by such

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Registration Statement or the managing underwriter or underwriters, if any,
shall reasonably object.

            (b) Prepare and file with the SEC such amendments and post-effective
amendments to each Shelf Registration, as may be necessary to keep such
Registration Statement continuously effective for the Effectiveness Period;
cause the related Prospectus to be supplemented by any Prospectus supplement
required by applicable law, and as so supplemented to be filed pursuant to Rule
424 (or any similar provisions then in force) promulgated under the Securities
Act; and comply with the provisions of the Securities Act and the Exchange Act
applicable to it with respect to the disposition of all Registrable Securities
covered by such Registration Statement as so amended or in such Prospectus as so
supplemented. The Company shall be deemed not to have used all reasonable
efforts to keep a Registration Statement effective during the Effectiveness
Period if it voluntarily takes any action that would result in Selling Holders
of the Registrable Securities covered thereby not being able to sell such
Registrable Securities during that period unless such action is required by
applicable law or unless the Company complies with this Agreement, including
without limitation the provisions of Section 4(k) hereof.

            (c) Notify the Selling Holders, a single counsel to such Holders
(chosen in accordance with Section 5(b) and the managing underwriter or
underwriters, if any, promptly (but in any event within two Business Days), (i)
when a Prospectus or any prospectus supplement or post-effective amendment has
been filed, and, with respect to a Registration Statement or any post-effective
amendment, when the same has become effective under the Securities Act
(including in such notice a written statement that any Holder may, upon request,
obtain, at the sole expense of the Company, one conformed copy of such
Registration Statement or post-effective amendment including financial
statements and schedules, documents incorporated or deemed to be incorporated by
reference and exhibits), (ii) of the issuance by the SEC of any stop order
suspending the effectiveness of a Registration Statement or of any order
preventing or suspending the use of any preliminary prospectus or the initiation
of any proceedings for that purpose, (iii) of the happening of any event, the
existence of any condition or any information becoming known that makes any
statement made in such Registration Statement or related Prospectus or any
document incorporated or deemed to be incorporated therein by reference untrue
in any material respect or that requires the making of any changes in or
amendments or supplements to such Registration Statement, Prospectus or
documents so that, in the case of the Registration Statement, it will not
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein
not misleading, and that in the case of the Prospectus, it will not contain any
untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading and (iv) of the
Company's determination that a post-effective amendment to a Registration
Statement would be appropriate.

            (d) Use all reasonable efforts to prevent the issuance of any order
suspending the effectiveness of a Registration Statement or of any order
preventing or suspending the use of a Prospectus and, if any such order is
issued, to use all reasonable efforts to obtain the withdrawal of any such order
at the earliest possible moment, and provide immediate notice to

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the Selling Holders and the managing underwriter or underwriters, if any, of the
withdrawal of any such order.

            (e) If requested by the managing underwriter or underwriters, if
any, or the Holders of the majority in Amount of Registrable Securities being
sold in connection with an underwritten offering (i) promptly incorporate in a
prospectus supplement or post-effective amendment such information as the
managing underwriter or underwriters (if any), or such Holders reasonably
determine is necessary to be included therein, (ii) make all required filings of
such prospectus supplement or such post-effective amendment as soon as
reasonably practicable after the Company has received notification of the
matters to be incorporated in such prospectus supplement or post-effective
amendment and (iii) supplement or make amendments to such Registration
Statement.

            (f) Furnish to each Selling Holder, a single counsel to such Holders
(chosen in accordance with Section 5(b)) and the managing underwriter or
underwriters, if any, at the sole expense of the Company, one conformed copy of
the Registration Statement or Registration Statements and each post-effective
amendment thereto, including financial statements and schedules, and, if
requested, all documents incorporated or deemed to be incorporated therein by
reference and all exhibits.

            (g) Deliver to each Selling Holder, a single counsel to such Holders
(chosen in accordance with Section 5(b)) and the managing underwriter or
underwriters, if any, at the sole expense of the Company, as many copies of the
Prospectus (including each form of preliminary prospectus) and each amendment or
supplement thereto and any documents incorporated by reference therein as such
Persons may reasonably request; and, subject to the second paragraph of Section
4(s) hereof, the Company hereby consents to the use of such Prospectus and each
amendment or supplement thereto by each of the Selling Holders of Registrable
Securities and the managing underwriter or underwriters or agents, if any, and
dealers (if any), in connection with the offering and sale of the Registrable
Securities covered by such Prospectus and any amendment or supplement thereto.

            (h) Prior to any public offering of Registrable Securities, to use
all reasonable efforts to register or qualify, to the extent required by
applicable law, and to cooperate with the Selling Holders and the managing
underwriter or underwriters, if any, and their respective counsel in connection
with the registration or qualification (or exemption from such registration or
qualification) of such Registrable Securities or offer and sale under the
securities or Blue Sky laws of such jurisdictions within the United States as
any selling Holder, or the managing underwriter or underwriters, if any,
reasonably request; provided, however, that where Registrable Securities are
offered other than through an underwritten offering, the Company agrees to cause
the Company's counsel to perform Blue Sky investigations and file registrations
and qualifications required to be filed pursuant to this Section 4(h), keep each
such registration or qualification (or exemption therefrom) effective during the
period such Registration Statement is required to be kept effective and do any
and all other acts or things reasonably necessary or advisable to enable the
disposition in such jurisdictions of the Registrable Securities covered by the
applicable Registration Statement; provided, however, that the Company shall not
be required to (A) qualify generally to do business in any jurisdiction where

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it is not then so qualified, (B) take any action that would subject it to
general service of process in any such jurisdiction where it is not then so
subject or (C) subject itself to taxation in excess of a nominal dollar amount
in any such jurisdiction where it is not then so subject.

            (i) Cooperate with the Selling Holders and the managing underwriter
or underwriters, if any, and their respective counsel to facilitate the timely
preparation and delivery of certificates representing shares of Registrable
Securities to be sold, which certificates shall not bear any restrictive legends
and shall be in a form eligible for deposit with The Depository Trust Company;
and enable such shares of Registrable Securities to be in such denominations and
registered in such names as the managing underwriter or underwriters, if any, or
Holders may reasonably request.

            (j) Use all reasonable efforts to cause the Registrable Securities
covered by any Shelf Registration Statement to be registered with or approved by
such other governmental agencies or authorities as may be reasonably necessary
to enable the Selling Holder or Holders thereof or the managing underwriter or
underwriters, if any, to consummate the disposition of such Registrable
Securities, except as may be required solely as a consequence of the nature of
such selling Holder's business, in which case the Company will cooperate in all
reasonable respects with the filing of such Registration Statement and the
granting of such approvals.

            (k) Upon the occurrence of any event contemplated by paragraph
4(c)(ii), 4(c)(iii) or 4(c)(iv) hereof, as promptly as practicable prepare and
(subject to Section 4(a) hereof) file with the SEC, at the sole expense of the
Company, a supplement or post-effective amendment to the Registration Statement
or a supplement to the related Prospectus or any document incorporated or deemed
to be incorporated therein by reference, or file any other required document so
that, as thereafter delivered to the purchasers of the Registrable Securities
being sold thereunder, any such Prospectus will not contain an untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

            (l) Prior to the effective date of the first Registration Statement
relating to the Registrable Securities, (i) provide the Trustee with
certificates for the Registrable Securities in a form eligible for deposit with
The Depository Trust Company and (ii) provide a CUSIP number for the Registrable
Securities.

            (m) In connection with any underwritten offering of Registrable
Securities pursuant to a Shelf Registration, enter into an underwriting
agreement as is customary in underwritten offerings of securities similar to the
Registrable Securities and take all such other actions as are reasonably
requested by the managing underwriter or underwriters in order to expedite or
facilitate the registration or the disposition of such Registrable Securities
and, in such connection, (i) make such representations and warranties to, and
covenants with, the managing underwriter or underwriters with respect to the
business of the Company and its subsidiaries (including any acquired business,
properties or entity, if applicable) and the Registration Statement, Prospectus
and documents, if any, incorporated or deemed to be incorporated by reference
therein, in each case, as are customarily made by issuers to underwriters in
underwritten offerings of securities similar to the Registrable Securities and
confirm the same in writing if and when requested; (ii) obtain the written
opinion of counsel to the Company and written updates thereof in form, scope and
substance reasonably satisfactory to the managing

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underwriter or underwriters, addressed to the managing underwriter or
underwriters covering the matters customarily covered in opinions requested in
underwritten offerings of securities similar to the Registrable Securities and
such other matters as may be reasonably requested by the managing underwriter or
underwriters; and (iii) obtain "cold comfort" letters and updates thereof in
form, scope and substance reasonably satisfactory to the managing underwriter or
underwriters from the independent certified public accountants of the Company
(and, if necessary, any other independent certified public accountants of any
subsidiary of the Company or of any business acquired by the Company for which
financial statements and financial data are, or are required to be, included or
incorporated by reference in the Registration Statement), addressed to each of
the underwriters, such letters to be in customary form and covering matters of
the type customarily covered in "cold comfort" letters in connection with
underwritten offerings of securities similar to the Registrable Securities and
such other matters as reasonably requested by the managing underwriter or
underwriters as permitted by the Statement on Auditing Standards No. 72. The
above shall be done as and to the extent required by such underwriting
agreement.

            (n) Make available for inspection by any Selling Holder of such
Registrable Securities being sold, any managing underwriter or underwriters
participating in any such disposition of Registrable Securities, if any, and any
attorney, accountant or other agent retained by any such Selling Holder or
underwriter (collectively, the "INSPECTORS"), at the offices where normally
kept, during reasonable business hours at such time or times as shall be
mutually convenient for the Company and the Inspectors as a group, all financial
and other records, pertinent corporate documents and instruments of the Company
and its subsidiaries (collectively, the "RECORDS") as shall be reasonably
necessary to enable them to exercise any applicable due diligence
responsibilities, and cause the officers, directors and employees of the Company
and its subsidiaries to supply all information reasonably requested by any such
Inspector in connection with such Registration Statement. Records that the
Company determines, in good faith, to be confidential and any Records that it
notifies the Inspectors are confidential shall not be disclosed by any Inspector
unless (i) the disclosure of such Records is necessary to avoid or correct a
material misstatement or material omission in such Registration Statement, (ii)
the release of such Records is ordered pursuant to a subpoena or other order
from a court of competent jurisdiction, (iii) disclosure of such information is,
in the opinion of counsel for any Inspector, necessary or advisable in
connection with any action, claim, suit or proceeding, directly involving or
potentially involving such Inspector and arising out of, based upon, relating
to, or involving this Agreement or any transactions contemplated hereby or
arising hereunder or (iv) the information in such Records has been made
generally available to the public other than through the acts of such Inspector;
provided, however, that prior notice shall be provided as soon as practicable to
the Company of the potential disclosure of any information by such Inspector
pursuant to clauses (ii) or (iii) of this sentence to permit the Company to
obtain a protective order (or waive the provisions of this paragraph (n)). Each
Inspector shall take such actions as are reasonably necessary to protect the
confidentiality of such information (if practicable) to the extent such actions
are otherwise not inconsistent with, an impairment of or in derogation of the
rights and interests of the Holder or any Inspector, unless and until such
information in such Records has been made generally available to the public
other than as a result of a breach of this Agreement.

                                       11
<PAGE>
            (o) Provide (i) the Holders of the Registrable Securities to be
included in such Registration Statement and not more than one counsel for all
the Holders of such Registrable Securities chosen in accordance with Section
5(b), (ii) the managing underwriter or underwriters (which term, for purposes of
this Registration Rights Agreement, shall include a Person deemed to be an
underwriter within the meaning of Section 2(11) of the Securities Act), if any,
thereof, (iii) the sales or placement agent, if any, thereof, and (iv) one
counsel for such underwriters or agents, reasonable opportunity to participate
in the preparation of such Registration Statement, each prospectus included
therein or filed with the SEC, and each amendment or supplement thereto.

            (p) Comply with all applicable rules and regulations of the SEC and
make generally available to its security holders earning statements satisfying
the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder
(or any similar rule promulgated under the Securities Act) no later than 45 days
after the end of any 12-month period (or 90 days after the end of any 12-month
period if such period is a fiscal year) (i) commencing at the end of any fiscal
quarter in which Registrable Securities are sold to underwriters in a firm
commitment or best efforts underwritten offering and (ii) if not sold to
underwriters in such an offering, commencing on the first day of the first
fiscal quarter of the Company after the effective date of a Registration
Statement, which statements shall cover said 12-month periods.

            (q) Cooperate with each Selling Holder of Registrable Securities
covered by any Registration Statement and the managing underwriter or
underwriters, if any, participating in the disposition of such Registrable
Securities and their respective counsel in connection with any filings required
to be made with the National Association of Securities Dealers, Inc. (the
"NASD"), including, if the Conduct Rules of the NASD or any successor thereto as
amended from time to time so require, engaging a "qualified independent
underwriter" ("QIU") as contemplated therein and making Records available to
such QIU as though it were a participating underwriter for the purposes of
Section 4(n) and otherwise applying the provisions of this Agreement to such QIU
(including indemnification) as though it were a participating underwriter.

            (r) Cause the Indenture to be qualified under the TIA not later than
the effective date of the first Registration Statement relating to the
Registrable Securities; and in connection therewith, cooperate with the Trustee
and the Holders of the Registrable Securities and their respective counsel to
effect such changes to the Indenture as may be required for the Indenture to be
so qualified in accordance with the terms of the TIA; and execute, and use all
reasonable efforts to cause the Trustee to execute, all documents as may be
required to effect such changes and all other forms and documents required to be
filed with the SEC to enable the Indenture to be so qualified in a timely
manner.

            (s) Use all reasonable efforts to take all other steps necessary or
advisable to effect the registration of the Registrable Securities covered by a
Registration Statement contemplated hereby.

            Each Holder agrees, by acquisition of the Registrable Securities,
that no Holder shall be entitled to sell any of such Registrable Securities
pursuant to a Registration Statement or to receive a Prospectus relating
thereto, unless such Holder has furnished the Company with a

                                       12
<PAGE>
Notice and Questionnaire as required pursuant to Section 2(d) hereof (including
the information required to be included in such Notice and Questionnaire) and
the information set forth in the next sentence. Each Selling Holder agrees
promptly to furnish to the Company all information required to be disclosed in
order to make the information previously furnished to the Company by such
Selling Holder not misleading and any other information regarding such Selling
Holder and the distribution of such Registrable Securities as the Company may
from time to time reasonably request. Any sale of any Registrable Securities by
any Holder shall constitute a representation and warranty by such Holder that
the information relating to such Holder and its plan of distribution is as set
forth in the Prospectus delivered by such Holder in connection with such
disposition, that such Prospectus does not as of the time of such sale contain
any untrue statement of a material fact relating to or provided by such Holder
or its plan of distribution and that such Prospectus does not as of the time of
such sale omit to state any material fact relating to or provided by such Holder
or its plan of distribution necessary to make the statements in such Prospectus,
in the light of the circumstances under which they were made, not misleading.

            The Company may require each Selling Holder of Registrable
Securities as to which any registration is being effected to furnish to the
Company such additional information regarding such Holder and the distribution
of such Registrable Securities as the Company may, from time to time, reasonably
request to the extent necessary or advisable to comply with the Securities Act.
The Company may exclude from such registration the Registrable Securities of any
Selling Holder if such Holder fails to furnish such additional information
within 20 Business Days after receiving such request. Each Selling Holder as to
which any Shelf Registration is being effected agrees to furnish promptly to the
Company all information required to be disclosed so that the information
previously furnished to the Company by such Holder is not materially misleading
and does not omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the
circumstances under which they were made.

            Each Holder of Registrable Securities agrees by acquisition of such
Registrable Securities that, upon actual receipt of any notice from the Company
of the Company suspending the effectiveness of the Registration Statement
pursuant to Section 3(b) hereof, or upon the happening of any event of the kind
described in Section 4(c)(ii), 4(c)(iii) or 4(c)(iv) hereof, such Holder will
forthwith discontinue disposition of such Registrable Securities covered by such
Registration Statement or Prospectus until such Holder's receipt of the copies
of the supplemented or amended Prospectus contemplated by Section 4(k) hereof,
or until it is advised in writing by the Company that the use of the applicable
Prospectus may be resumed, and has received copies of any amendments or
supplements thereto.

5.    Registration Expenses.

            (a) All fees and expenses incident to the performance of or
compliance with this Agreement by the Company shall be borne by the Company,
including, without limitation, (i) all registration and filing fees (including,
without limitation, (A) fees with respect to filings required to be made with
the NASD in connection with an underwritten offering and (B) fees and expenses
of compliance with state securities or Blue Sky laws (including, without
limitation, reasonable fees and disbursements of counsel in connection with Blue
Sky qualifications of the Registrable Securities and determination of the
eligibility of the Registrable Securities for

                                       13
<PAGE>
investment under the laws of such jurisdictions as provided in Section 4(h)
hereof), (ii) printing expenses, including, without limitation, expenses of
printing certificates for Registrable Securities in a form eligible for deposit
with The Depository Trust Company and of printing prospectuses if the printing
of prospectuses is requested by the managing underwriter or underwriters, if
any, or by the Holders of the majority in Amount of Registrable securities
included in any Registration Statement, (iii) messenger, telephone and delivery
expenses, (iv) fees and disbursements of counsel for the Company, (v) fees and
disbursements of all independent certified public accountants referred to in
Section 4(m)(iii) hereof (including, without limitation, the expenses of any
special audit and "cold comfort" letters required by or incident to such
performance), (vi) Securities Act liability insurance, if the Company desires
such insurance, (vii) fees and expenses of all other Persons retained by the
Company, (viii) internal expenses of the Company (including, without limitation,
all salaries and expenses of officers and employees of the Company performing
legal or accounting duties), (ix) the expense of any annual audit, (x) the fees
and expenses incurred in connection with the listing of the securities to be
registered on any securities exchange, if applicable, and (xi) the expenses
relating to printing, word processing and distributing all Registration
Statements, underwriting agreements, securities sales agreements and any other
documents necessary in order to comply with this Agreement. Notwithstanding
anything in this Agreement to the contrary, each Holder shall pay all
underwriting discounts and brokerage commissions with respect to any Registrable
Securities sold by it, and the Company shall not be responsible for the fees and
expenses of any counsel for the managing underwriter or underwriters, if any.

            (b) The Company shall reimburse the Holders of the Registrable
Securities being registered in a Shelf Registration for the reasonable fees and
disbursements of not more than one counsel chosen by the Holders of a majority
in Amount of Registrable Securities to be included in such Registration
Statement.

6.    Indemnification.

            The Company agrees to indemnify and hold harmless (i) each Holder
(which, for the absence of doubt, for purposes of this Section 6 shall include
the Initial Purchaser), (ii) each Person, if any, who controls (within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange
Act) any Holder (any of the Persons referred to in this clause (ii) being
hereinafter referred to as a "CONTROLLING PERSON"), (iii) the respective
officers, directors, partners, employees, representatives and agents of any
Holder (including any predecessor holder)or any controlling person (any person
referred to in clause (i), (ii) or (iii) may hereinafter be referred to as an
"INDEMNIFIED HOLDER"), against any losses, claims, damages or liabilities to
which such Indemnified Holder may become subject under the Securities Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions or
proceedings in respect thereof) arise out of or are based upon (A) any untrue
statement or alleged untrue statement of any material fact contained in any
Registration Statement or Prospectus, or any amendment or supplement thereto or
any related preliminary prospectus or (B) the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, in the light of the circumstances in
which they were made; provided, however, that the Company will not be liable
under this paragraph, (x) to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue
statement, or omission or alleged omission made in any such Registration
Statement or

                                       14
<PAGE>
Prospectus, or any amendment or supplement thereto or any related preliminary
prospectus in reliance upon and in conformity with written information relating
to any Holder furnished to the Company by or on behalf of such Holder
specifically for use in therein or (y) with respect to any untrue statement or
alleged untrue statement, or omission or alleged omission made in any
preliminary prospectus if the person asserting any such loss, claim, damage or
liability who purchased Registrable Securities which are the subject thereof did
not receive a copy of the Prospectus (or of the preliminary prospectus as then
amended or supplemented if the Company shall have furnished such Indemnified
Holder with such amendment or supplement thereto on a timely basis) at or prior
to the written confirmation of the sale of such Registrable Securities to such
person and, in any case where such delivery is required by applicable law and
the untrue statement or alleged untrue statement or omission or alleged omission
of a material fact made in such preliminary prospectus was corrected in the
Prospectus (or the preliminary prospectus as then amended or supplemented if the
Company shall have furnished such Indemnified Holder with such amendment or
supplement thereto on a timely basis). The Company shall notify such Indemnified
Holder promptly of the institution, threat or assertion of any claim, proceeding
(including any governmental investigation) or litigation in connection with the
matters addressed by this Agreement which involves the Company or such
Indemnified Holder.

            The Company agrees to reimburse each Indemnified Holder upon demand
for any legal or other out-of-pocket expenses reasonably incurred by such
Indemnified Holder in connection with investigating or defending any such loss,
claim, damage or liability, action or proceeding or in responding to a subpoena
or governmental inquiry related to the offering of the Registrable Securities,
whether or not such Indemnified Holder is a party to any action or proceeding.
In the event that it is finally judicially determined that an Indemnified Holder
was not entitled to receive payments for legal and other expenses pursuant to
this paragraph, such Indemnified Holder will promptly return all sums that had
been advanced pursuant hereto.

            Each Holder agrees, severally and not jointly, to indemnify and hold
harmless the Company, its directors and officers and each Person who controls
the Company (within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act) to the same extent as the indemnity provided in
the first paragraph of this Section 6 from the Company to each Holder, but only
with reference to such losses, claims, damages or liabilities which are caused
by any untrue statement or omission or alleged untrue statement or omission made
in reliance upon and in conformity with information relating to a Holder
furnished to the Company in writing by such Holder expressly for use in any
Registration Statement or Prospectus, or any amendment or supplement thereto or
any related preliminary prospectus.

            In case any proceeding (including any governmental investigation)
shall be instituted involving any Person in respect of which indemnity may be
sought pursuant to either of the first and third paragraphs of this Section 6,
such Person (the "INDEMNIFIED PERSON") shall promptly notify the Person or
Persons against whom such indemnity may be sought (each an "INDEMNIFYING
PERSON") in writing. No indemnification provided for in the first or third
paragraphs of this Section 6 shall be available to any Person who shall have
failed to give notice as provided in this paragraph if the party to whom notice
was not given was unaware of the proceeding to which such notice would have
related and was materially prejudiced by the failure to give such notice, but
the failure to give such notice shall not relieve the Indemnifying Person or
Persons from any liability which it or they may have to the Indemnified Person
for

                                       15
<PAGE>
contribution or otherwise than on account of the provisions of the first and
third paragraphs of this Section 6. In case any such proceeding shall be brought
against any Indemnified Person and it shall notify the Indemnifying Person of
the commencement thereof, the Indemnifying Person shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any
other Indemnifying Person similarly notified, to assume the defense thereof,
with counsel reasonably satisfactory to such Indemnified Person and shall pay as
incurred (or within 30 days of presentation) the fees and disbursements of such
counsel related to such proceeding. In any such proceeding, any Indemnified
Person shall have the right to retain its own counsel at its own expense.
Notwithstanding the foregoing, the Indemnifying Person shall pay as incurred (or
within 30 days of presentation) the fees and expenses of the counsel retained by
the Indemnified Person in the event (i) the Indemnifying Person and the
Indemnified Person shall have mutually agreed to the retention of such counsel,
(ii) the named parties to any such proceeding (including any impleaded parties)
include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to
actual or potential differing interests between them or (iii) the Indemnifying
Person shall have failed to assume the defense and employ counsel reasonably
acceptable to the Indemnified Person within a reasonable period of time after
notice of commencement of the action. It is understood that the Indemnifying
Person shall not, in connection with any proceeding or related proceedings in
the same jurisdiction, be liable for the reasonable fees and expenses of more
than one separate firm for all such Indemnified Persons. Such firm shall be
designated in writing by a majority in Amount of Registrable Securities in the
case of parties indemnified pursuant to the first paragraph of this Section 6
and by the Company in the case of parties indemnified pursuant to the third
paragraph of this Section 6. The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its written consent but if settled
with such consent or if there be a final judgment for the plaintiff, the
Indemnifying Person agrees to indemnify the Indemnified Person from and against
any loss or liability by reason of such settlement or judgment. In addition, the
Indemnifying Person will not, without the prior written consent of the
Indemnified Person, settle or compromise or consent to the entry of any judgment
in any pending or threatened claim, action or proceeding of which
indemnification may be sought hereunder (whether or not any Indemnified Person
is an actual or potential party to such claim, action or proceeding) unless such
settlement, compromise or consent includes an unconditional release of each
Indemnified Person from all liability arising out of such claim, action or
proceeding.

            To the extent the indemnification provided for in this Section 6 is
unavailable to or sufficient to hold harmless an Indemnified Person under the
first or third paragraph of this Section 6 in respect of any losses, claims,
damages or liabilities (or actions or proceedings in respect thereof) referred
to therein, except by reason of the exceptions set forth in the first or third
paragraphs of this Section 6 or the failure of the Indemnified Person to give
notice as required in the fourth paragraph of this Section 6, then each
Indemnifying Person shall contribute to the amount paid or payable by such
Indemnified Person as a result of such losses, claims, damages or liabilities
(or actions or proceedings in respect thereof) in such proportion as is
appropriate to reflect the relative benefits received by the Indemnifying Person
on the one hand and the Indemnified Person on the other hand from the offering
of the Securities pursuant to the Purchase Agreement and the Registrable
Securities pursuant to any Shelf Registration. If, however, the allocation
provided by the immediately preceding sentence is not permitted by applicable
law then each Indemnifying Person shall contribute to such amount paid or
payable by such Indemnified Person in such proportion as is appropriate to
reflect not only such relative

                                       16
<PAGE>
benefits but also the relative fault of the Indemnifying Person on the one hand
and the Indemnified Person on the other in connection with the statements or
omissions which resulted in such losses, claims, damages or liabilities (or
actions or proceedings in respect thereof), as well as any other relevant
equitable considerations. The relative benefits received by the Company on the
one hand and any Indemnified Holder on the other shall be deemed to be in the
same proportion as the total net proceeds (before deducting expenses) received
by the Company from the offering and sale of the Securities bear to the total
net proceeds received by such Indemnified Holder from sales of Registrable
Securities giving rise to such obligations. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the Company on the one hand
or such Indemnified Holder on the other and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission.

            The Company and the Initial Purchaser agree that it would not be
just and equitable if contributions pursuant to the immediately preceding
paragraph of this Section 6 were determined by pro rata allocation or by any
other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount
paid or payable by an Indemnified Person as a result of the losses, claims,
damages or liabilities (or actions or proceedings in respect thereof) referred
to in the immediately preceding paragraph shall be deemed to include any legal
or other expenses reasonably incurred by such Indemnified Person in connection
with investigating or defending any such action or claim or enforcing any rights
hereunder. Notwithstanding the provisions of this paragraph and the immediately
preceding paragraph of this Section 6, (i) in no event shall any Holder be
required to contribute any amount in excess of the amount by which the net
proceeds received by such Holder from the offering or sale of the Registrable
Securities pursuant to a Shelf Registration Statement exceeds the amount of
damages which such Holder would have otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission and (ii)
no Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation.

            Except as otherwise provided in this Section 6, any losses, claims,
damages, liabilities or expenses for which an Indemnified Person is entitled to
indemnification or contribution under this Section 6 shall be paid by the
Indemnifying Person to the Indemnified Person as such losses, claims, damages,
liabilities or expenses are incurred (or within 30 days of presentation).

            The remedies provided for in this Section 6 are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any
indemnified party at law or in equity.

            The indemnity and contribution agreements contained in this Section
6 shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
any Holder or any Person controlling any Holder or by or on behalf of the
Company, its officers or directors or any other Person controlling any of the
Company and (iii) acceptance of and payment for any of the Registrable
Securities.

                                       17
<PAGE>
7. Rules 144 and 144A. The Company covenants that it will file the reports
required to be filed by it under the Securities Act and the Exchange Act and the
rules and regulations adopted by the SEC thereunder in a timely manner in
accordance with the requirements of the Securities Act and the Exchange Act and,
for so long as any Registrable Securities remain outstanding, if at any time the
Company is not required to file such reports, it will, upon the request of any
Holder or beneficial owner of Registrable Securities, make available such
information necessary to permit sales pursuant to Rule 144A under the Securities
Act. The Company further covenants that, for so long as any Registrable
Securities remain outstanding, it will use all reasonable efforts to take such
further action as any Holder of Registrable Securities may reasonably request,
all to the extent required from time to time to enable such holder to sell
Registrable Securities without registration under the Securities Act within the
limitation of the exemptions provided by (a) Rule 144(k) and Rule 144A under the
Securities Act, as such rules may be amended from time to time, or (b) any
similar rule or regulation hereafter adopted by the SEC. Notwithstanding the
foregoing, nothing in this Section 7 shall be deemed to require the Company to
register any of its securities pursuant to the Exchange Act.

8.    Underwritten Registrations.

            If any of the Registrable Securities covered by any Shelf
Registration are to be sold in an underwritten offering, the investment banker
or investment bankers and manager or managers that will manage the offering will
be selected by, and the underwriting arrangements with respect thereto will be
approved by, the Company; provided, however, that such investment bankers and
managers and underwriting arrangements must be reasonably satisfactory to the
Holders of the majority in Amount of Registrable Securities to be included in
such offering.

            No Holder of Registrable Securities may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such
Holder's Registrable Securities on the basis provided in any underwriting
arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements.

9.    Miscellaneous.

            (a) No Inconsistent Agreements. The Company has not, as of the date
hereof, and the Company shall not, after the date of this Agreement, enter into
any agreement with respect to any of its securities that is inconsistent with
the rights granted to the Holders of Registrable Securities in this Agreement or
otherwise conflicts with the provisions hereof.

            (b) Adjustments Affecting Registrable Securities. The Company shall
not, directly or indirectly, take any action with respect to the Registrable
Securities as a class that would adversely affect the ability of the Holders of
Registrable Securities to include such Registrable Securities in a registration
undertaken pursuant to this Agreement.

            (c) Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, otherwise than with the prior written
consent of the Company and the

                                       18
<PAGE>
Holders of not less than the majority in Amount of Registrable Securities;
provided, however, that Section 6 and this Section 9(c) may not be amended,
modified or supplemented without the prior written consent of the Company and
each Holder (including, in the case of an amendment, modification or supplement
of Section 6, any Person who was a Holder of Registrable Securities disposed of
pursuant to any Registration Statement). Notwithstanding the foregoing, a waiver
or consent to depart from the provisions hereof with respect to a matter that
relates exclusively to the rights of Holders of Registrable Securities whose
securities are being sold pursuant to a Registration Statement and that does not
directly or indirectly affect, impair, limit or compromise the rights of other
Holders of Registrable Securities may be given by Holders of at least a majority
in Amount of the Registrable Securities being sold by such Holders pursuant to
such Registration Statement.

            (d) Notices. All notices and other communications (including without
limitation any notices or other communications to the Trustee) provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, next-day air courier or facsimile:

                  (1) if to a Holder of Registrable Securities, at the most
current address of such Holder set forth on the records of the registrar under
the Indenture, in the case of Holders of Securities, and the stock ledger of the
Company, in the case of Holders of common stock of the Company, unless, in
either such case, any Holder shall have provided notice information in a Notice
and Questionnaire or any amendment thereto, in which case such information shall
control.

                  (2)   if to the Initial Purchaser:

                          Deutsche Bank Securities Inc.
                          1 South Street, 15th Floor
                          Baltimore, Maryland 21202
                          Facsimile No.: (410) 895-2720
                          Attention: Syndicate Manager

                          Deutsche Bank Securities Inc.
                          31 West 52nd Street
                          New York, New York 10019
                          Facsimile No.: (212) 469-3665
                          Attention: General Counsel

            with copies to:

                          Davis Polk & Wardwell
                          450 Lexington Avenue
                          New York, New York 10017
                          Facsimile No.: (212) 450-4800
                          Attention: Bruce K. Dallas

                                       19
<PAGE>
                  (3)   if to the Company:

                          Medicis Pharmaceutical Corporation
                          8125 North Hayden Road
                          Scottsdale, Arizona 85258-2463
                          Facsimile No.: (602) 778-6132
                          Attention: Chief Financial Officer

            with copies to:

                          Akin, Gump, Strauss, Hauer & Feld, L.L.P.
                          590 Madison Avenue
                          New York, New York 10022
                          Facsimile No.: (212) 407-3268
                          Attention: Stephen Older

            All such notices and communications shall be deemed to have been
duly given: when delivered by hand, if personally delivered; five (5) Business
Days after being deposited in the mail, postage prepaid, if mailed; one Business
Day after being timely delivered to a next-day air courier; and when the
addressor receives facsimile confirmation, if sent by facsimile during normal
business hours, and otherwise on the next Business Day during normal business
hours.

            (e) Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and assigns of each of the parties
hereto, including the Holders; provided, however, that this Agreement shall not
inure to the benefit of or be binding upon a successor or assign of a Holder
unless and except to the extent such successor or assign holds Registrable
Securities.

            (f) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

            (g) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

            (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS
MADE AND PERFORMED WHOLLY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO
THE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS SITTING IN MANHATTAN,
NEW YORK CITY, THE STATE OF NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT.

            (i) Severability. If any term, provision, covenant or restriction of
this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein

                                       20
<PAGE>
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated, and the parties hereto shall use their best efforts to find and
employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is
hereby stipulated and declared to be the intention of the parties that they
would have executed the remaining terms, provisions, covenants and restrictions
without including any of such that may be hereafter declared invalid, illegal,
void or unenforceable.

            (j) Securities Held by the Company or Its Affiliates. Whenever the
consent or approval of Holders of a specified percentage in Amount of
Registrable Securities is required hereunder, Registrable Securities held by the
Company or its affiliates (as such term is defined in Rule 405 under the
Securities Act) shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

            (k) Third-Party Beneficiaries. Holders of Registrable Securities are
intended third party beneficiaries of this Agreement and this Agreement may be
enforced by such Persons.

            (l) Entire Agreement. This Agreement, together with the Purchase
Agreement and the Indenture, is intended by the parties as a final and exclusive
statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained herein and therein and any and all prior oral or
written agreements, representations, or warranties, contracts, understandings,
correspondence, conversations and memoranda between the Initial Purchaser on the
one hand and the Company on the other, or between or among any agents,
representatives, parents, subsidiaries, affiliates, predecessors in interest or
successors in interest with respect to the subject matter hereof and thereof are
merged herein and replaced hereby.

                                       21
<PAGE>
            IN WITNESS WHEREOF, the parties have executed this Registration
Rights Agreement as of the date first written above.

                                       MEDICIS PHARMACEUTICAL CORPORATION

                                       By: /s/ Mark A. Prygocki, Sr.
                                          -------------------------------
                                          Name:  Mark A. Prygocki, Sr.
                                          Title: Executive Vice President, Chief
                                                 Financial Officer and Treasurer

                                       DEUTSCHE BANK SECURITIES INC.

                                       By: /s/ H. Michael Cohen
                                          -------------------------------
                                          Name:  H. Michael Cohen
                                          Title: Managing Director

                                       22<PAGE>
                                                                 Exhibit 10.18.6

                                                                  EXECUTION COPY

                              THIRD AMENDMENT
                                     TO
                          STOCKHOLDERS' AGREEMENT

      THIS THIRD AMENDMENT (this "Third Amendment"), dated as of May 16, 2002,
is by and among EQUITY CSKA LIMITED, EQUITY CSKB LIMITED, EQUITY CSKC LIMITED,
AUTO EQUITY LIMITED, AUTO PARTS LIMITED, AUTO INVESTMENTS LIMITED, CSK
INVESTMENTS LIMITED, CSK EQUITY LIMITED, NEW CSK EQUITY LIMITED, INVESTCORP CSK
HOLDINGS L.P., CSK INTERNATIONAL LIMITED, J.P. MORGAN (SUISSE) S.A., as
successor to CHASE BANK (C.I.) NOMINEES LIMITED, SOUTH BAY LIMITED, INVESTCORP
INVESTMENT EQUITY LIMITED, BALLET LIMITED, DENARY LIMITED, GLEAM LIMITED,
HIGHLANDS LIMITED, NOBLE LIMITED, OUTRIGGER LIMITED, QUILL LIMITED, RADIAL
LIMITED, SHORELINE LIMITED and ZINNIA LIMITED, each being a corporation
organized under the laws of the Cayman Islands, CHILTERN TRUSTEES LIMITED, in
its capacity as trustee of The Carmel Trust, a trust governed by the laws of
Canada and established under a trust settlement made August 17, 1977 ("Chiltern
Trustees Limited"), Glenellen Investment Co., a Cayman Islands corporation,
Transatlantic Investments, LLC., MAYNARD JENKINS and THE JAB TRUST
(collectively, the "Stockholders"), CSK AUTO CORPORATION, a Delaware corporation
(the "Company"), and CSK AUTO, INC., an Arizona corporation and a wholly-owned
subsidiary of the Company, each of whom is a party to that certain Stockholders'
Agreement, dated as of October 30, 1996, as amended by that certain Amendment
thereto, dated as of June 12, 1998, as further amended by that certain letter
agreement, dated December 8, 1998, and as further amended by that certain Second
Amendment thereto (the "Second Amendment"), dated as of December 7, 2001 (the
"Stockholders' Agreement").

                                  RECITALS

      WHEREAS, under the terms of the Stockholders' Agreement, the Company has
granted the Stockholders certain demand and piggyback registration rights in
respect of the Registrable Stock (as defined therein) held by the Stockholders;

      WHEREAS, pursuant to a December 7, 2001 Stock Purchase Agreement (the
"Purchase Agreement") between the Company, LB I Group Inc. ("Lehman") and
Investcorp CSK Holdings L.P. ("ICH," with Lehman, each a "Buyer" and
collectively, the "Buyers") the Company sold to the Buyers (or their assigns) on
December 21, 2001 (the "Closing Date'") (i) $50 million principal amount of its
7% Convertible Subordinated Debentures (the "Convertible Debentures"), which are
convertible into shares of the Company's common stock, par value $0.01 per share
(the "Common Stock") (as converted, the "Conversion Shares"), and (ii)
associated warrants (the "Make-Whole Warrants") to purchase shares of Common
Stock (as exercised, the "Make-Whole Shares");

      WHEREAS, contemporaneously with the execution and delivery of the Purchase
Agreement, the Company and the Buyers executed a Registration Rights Agreement
(the
<PAGE>
"Registration Rights Agreement"), pursuant to which the Company agreed (i) to
file a registration statement (herein referred to as the "Primary Registration
Statement") within 30 days of the Closing Date, concerning the resale of at
least 12.7 million shares of Common Stock, which shares included the Conversion
Shares, shares payable in lieu of cash interest payments on the Convertible
Debentures, and the Make-Whole Shares (collectively, the "Registrable
Securities"), and (ii) to use its best efforts to have the Primary Registration
Statement be declared effective by the U.S. Securities and Exchange Commission
(the "SEC") within 120 days of its filing deadline.;

      WHEREAS, in the Second Amendment, the Stockholders (i) agreed to waive any
piggyback registration held under the Stockholders' Agreement in respect of the
registration of Registrable Securities pursuant to the Primary Registration
Statement, and (ii) agreed not to require the filing of any registration
statement pursuant to any exercise of any demand registration rights held under
the Stockholders' Agreement until the Primary Registration Statement had been
declared effective by the SEC;

      WHEREAS, the SEC has indicated that it deems the issuance of the
Make-Whole Shares to be subject to certain conditions precedent, meaning the
Make-Whole Shares cannot be registered for resale in the Primary Registration
Statement. Because it is not possible to register for resale all of the
Registrable Securities in the Primary Registration Statement pursuant to the
Registration Rights Agreement, the Company and the Buyers have entered into an
Amended and Restated Registration Rights Agreement, dated as of the date hereof
(the "Amended Registration Rights Agreement," attached hereto as Annex A). The
Amended Registration Rights Agreement excludes the Make-Whole Shares from the
Primary Registration Statement and requires the Company to file an additional
registration statement (the "Make-Whole Registration Statement") within two
Business Days of the Make-Whole Date (as defined in the Convertible Debentures),
registering for resale any Make-Whole Securities (as defined in the Amended
Registration Rights Agreement) issued or issuable on the Make-Whole Date;

      WHEREAS, the Company is seeking to obtain consents and waivers from the
Stockholders necessary to make the waivers of registration rights granted by the
Stockholders in the Second Amendment apply to any Make-Whole Securities that may
be required to be registered for resale in the Make-Whole Registration
Statement; and

      WHEREAS, the Stockholders wish to set forth certain additional agreements
and understandings concerning future registrations of shares of Capital Stock of
the Company for sale or resale to the public.

      NOW, THEREFORE, in consideration of the mutual covenants and premises
contained herein and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

                                       2
<PAGE>
                                 ARTICLE I
                                 AMENDMENTS

      Section 1.1. The second paragraph of Section 9.1(d)(viii) of the
Stockholders' Agreement is hereby amended by deleting the first sentence of such
paragraph and replacing such first sentence (containing the definition of
"Lehman Registration Statement") as follows:

      "Lehman Registration Statement" shall mean the registration statement
prepared and filed pursuant to Section 2(a)(i) of the Amended Registration
Rights Agreement.

The remainder of the second paragraph of Section 9.1(d)(viii) shall remain
unchanged.

      Section 1.2. Section 9.1 of the Stockholders Agreement is hereby amended
to add the following new clause "(e)" at the end thereof.

      "(e) If the Company is required to file a Make-Whole Registration
Statement pursuant to Section 2(a)(ii) of the Amended Registration Rights
Agreement, following the date on which the Make-Whole Registration Statement is
declared effective, but subject to Section 2.4 of the Third Amendment to the
Stockholders Agreement, the Company shall be obligated to file any registration
statement requested by any Stockholder pursuant to Section 9.1(a) or Section 9.3
and to use its best efforts to cause such registration statement to be declared
effective within the time periods specified below. If the Company fails to file
such registration statement in response to a Stockholder request or to cause
that registration statement to be declared effective within the time periods
specified, the Company shall incur the penalties specified below to any of
Chiltern Trustees Limited, Glenellen Investment Co. and Transatlantic
Investments, LLC (collectively, the "Carmel Stockholders") if such parties
requested the filing of such registration statement.

            (i) If any of the Stockholders exercise their registration rights
      under this Section 9.1 or under Section 9.3 at any time commencing 30 days
      prior to the Make-Whole Date and ending at the time that the Make-Whole
      Registration Statement is declared effective by the Commission, or at any
      time during the Company's four or five week accounting period (a "Company
      Accounting Month") in which the Make-Whole Registration Statement is
      declared effective by the Commission, the Company shall file a
      registration statement in respect of such exercise not later than two (2)
      Business Days after receipt by the Company of written facsimile notice (as
      defined below) of such exercise, but shall not be obligated to make such
      filing earlier than the second Business Day after the Make-Whole
      Registration Statement is declared effective; provided, however, that if
      the written facsimile notice of such exercise is provided to the Company
      at least three (3) Business Days prior to the declaration of effectiveness
      of the Make-Whole Registration Statement, such filing shall be made by the
      Company on the first Business Day following the declaration of
      effectiveness of the Make-Whole Registration Statement.

            (ii) If any of the Stockholders exercise their registration rights
      under this Section 9.1 or under Section 9.3 during the Company Accounting
      Month immediately following the Company Accounting Month in which the
      Make-Whole Registration

                                       3
<PAGE>
      Statement is declared effective, the Company shall file a registration
      statement in respect of such exercise within five (5) Business Days after
      receipt by the Company of written facsimile notice of such exercise.

            (iii) If any of the Stockholders exercise their registration rights
      under this Section 9.1 or under Section 9.3 after the exercise period
      specified in Section 9.1(e)(ii) above, the Company shall file a
      registration statement in respect of such exercise within thirty (30)
      calendar days after receipt by the Company of written facsimile notice of
      such exercise.

            (iv) The Company shall use its best efforts to cause any
      registration statement filed in accordance with Sections 9.1(e)(i)-(iii),
      above, to become effective within 150 calendar days following the later of
      (i) the Make-Whole Date or (ii) the date on which the Company receives
      written facsimile notice of exercise of such registration rights;
      provided, however, that the Company will, commencing with the first
      business day after such filing and continuing thereafter, diligently seek
      a determination by the Commission as to whether it will be reviewing such
      registration statement and if the Company receives notice from the
      Commission that it will not be reviewing such registration statement, the
      Company shall request effectiveness of such registration statement within
      one (1) Business Day of its receipt of such notification from the
      Commission.

            (v) If a Stockholder exercises its rights under Section 9.1(e)(i)
      hereof, all notifications to be provided hereunder by the Company will be
      provided by facsimile to the other Stockholders at the last facsimile
      number provided by them to the Company and the following time periods will
      apply:

                  A.    Section 9.1(b) - both time periods will change
            from thirty (30) days to one Business Day after receipt; and

                  B.    Section 9.2 - thirty (30) days will change to one
            Business Day after receipt.

            (vi) If a Stockholder exercises its rights under Section 9.1(e)(ii)
      hereof, all notifications to be provided hereunder by the Company will be
      provided by facsimile to the other Stockholders at the last facsimile
      number provided by them to the Company and the following time periods will
      apply:

                  A.    Section 9.1(b) - both time periods will change
            from thirty (30) days to one (1) Business Day; and

                  B.    Section 9.2 - thirty (30) days will change to one
            (1) Business Day.

            (vii) If a Stockholder exercises its rights under Section
      9.1(e)(iii) hereof, all notifications to be provided hereunder will be
      provided by facsimile to the other Stockholders at the last facsimile
      number provided by them to the Company and the following time periods will
      apply:

                                       4
<PAGE>
                  A.    Section 9.1(b) - both time periods will change
            from thirty (30) days to five (5) Business Days; and

                  B.    Section 9.2 - thirty (30) days will change to five
            (5) Business Days.

            (viii) If the Company fails to file a registration statement, if
      such registration statement is not declared effective by the Commission,
      or if the Company fails to make such registration statement available for
      the sale of the securities covered by such registration statement, in each
      case, within the applicable time period specified above, or if on any day
      after such registration statement has been declared effective by the
      Commission, sales of all securities requested to be included in such
      registration statement cannot be made (each of the foregoing, a
      "Registration Failure"), the Company shall, as relief for damages pay to
      each of the Carmel Stockholders seeking to exercise its registration
      rights under this Section 9.1, which shall be a number of shares of the
      Company's common stock equal to the product of (A) 0.0005 multiplied by
      (B) the number of shares of the Company's common stock that such Carmel
      Stockholder specified in its written facsimile notice requesting
      registration multiplied by (C) the sum of (x) the number of calendar days
      after the applicable filing deadline that the registration is not filed
      with the Commission, plus (y) the number of calendar days after the
      effectiveness deadline in Section 9.1(e)(iv) until the registration
      statement is declared effective by the Commission, plus (z) the number of
      days after the registration statement is declared effective by the
      Commission that it is not available for the sale of the securities
      required to be included in the registration statement, other than in each
      case during a Material Event (as defined below). This payment shall be
      paid in the form of shares of the Company's common stock based on the
      average final quoted price of the Company's common stock on each of the
      five (5) Business Days immediately preceding the date of payment. The
      payment provided in this paragraph shall not be the exclusive remedy for a
      Registration Failure nor shall it serve as a limitation on damages
      recoverable for or equitable relief available for such a Registration
      Failure. The payments to which any Carmel Stockholder shall be entitled
      pursuant to this paragraph shall be paid on the earlier of (I) the last
      day of each calendar month during which such payments are incurred and
      (II) the third Business Day after the event or failure giving rise to the
      payments is cured. In the event the Company fails to make such payments in
      a timely manner, such payments shall bear interest at the rate of 1.5% per
      month (prorated for partial months) until paid in full.

      (ix) If there is any conflict between Section 9.1(d) of the Stockholders'
Agreement and this Section 9.1(e), the terms of this Section 9.1(e) shall
control. If the Company is not required to file a Make-Whole Registration
Statement pursuant to the terms of the Amended Registration Rights Agreement,
this Section 9.1(e) shall terminate.

      For purposes hereof, "Make-Whole Registration Statement" shall mean the
registration statement to be prepared and filed pursuant to Section 2(a)(ii) of
the Amended Registration Rights Agreement. For purposes hereof, "Material Event"
shall mean any event that results in (i) a registration statement, in the good
faith opinion of the Board of Directors of the Company and its counsel,
containing an untrue statement of a material fact or omitting to state a
material

                                       5
<PAGE>
fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading, or (ii) the need to
delay the disclosure of material non-public information concerning the Company,
the disclosure of which at that time is not, in the good faith opinion of the
Company's Board of Directors and its counsel, in the best interests of the
Company; provided, however, that during any three hundred sixty-five (365) day
period no more than two such Material Events shall be permitted and such
Material Events shall not exceed an aggregate of forty-five (45) days.

      For purpose hereof, "written facsimile notice" shall mean notice
sent via facsimile to the Company at 602-234-1713, attention:  Martin
Fraser and at 602-264-0495, attention: Lon Novatt, between 9:00 a.m. and
5:00 p.m., New York time on a Business Day.

      For purposes hereof, "Business Day" shall mean any day other than
Saturday, Sunday or any other day on which commercial banks in the City of New
York are authorized or required by law to remain closed."

                                 ARTICLE II
                             CONSENT AND WAIVER

      Section 2.1. Consent. Each of the Stockholders hereby consents to the
execution and delivery of Amendment No. 1 to the Securities Purchase Agreement,
the Amended Registration Rights Agreement, and all documents contemplated
therein, the transactions contemplated thereby, the performance by the parties
thereto of their respective obligations thereunder and the rights granted to the
Buyers thereunder, notwithstanding any provisions to the contrary contained in
the Stockholders' Agreement. To the extent that the Stockholders' rights under
Article 9 of the Stockholders' Agreement to include their Registrable Stock (as
defined in the Stockholders' Agreement) in any registration of the Company's
securities conflicts with the preferential allocation granted to the Buyers
under the Amended Registration Rights Agreement in respect of their Make-Whole
Securities, each of the Stockholders hereby expressly waives any such conflict
and consent to the granting of such preferential registration rights to the
Buyers.

      Section 2.2. Waivers. Each Stockholder hereby waives the terms and
provisions of the Stockholders' Agreement to the extent that the transactions
contemplated by the Amended Registration Rights Agreement do not comply with
such terms and provisions. Specifically, without limitation, each Stockholder
(i) waives any piggyback registration rights it may have under the Stockholders'
Agreement in respect of the registration contemplated by Section 2(a)(ii) of the
Registration Rights Agreement, (ii) agrees, in the event a Make-Whole
Registration Statement must be filed pursuant to Section 2(a)(ii) of the Amended
Registration Rights Agreement, not to require the filing of any registration
statement pursuant to its exercise of any demand registration rights it may have
under Article 9 of the Stockholders' Agreement from the Make-Whole Date until
after the Make-Whole Registration Statement has been declared effective; and
(iii) agrees that, notwithstanding Section 9.1(c) or any other provision of the
Stockholders' Agreement (including Section 2.5 of this Third Amendment),
regardless of any registration statements the Company may have on file with the
SEC that are currently effective or on which effectiveness is pending (including
the Company Registration Statement, the Investcorp Registration Statement, the
Carmel Registration Statement, and the Default Registration Statement, each as
defined below in Section 2.5), the Company shall not be

                                       6
<PAGE>
prohibited by any Stockholder from filing the Make-Whole Registration Statement,
if such filing is necessary pursuant to Section 2(a)(ii) of the Amended
Registration Rights Agreement

      Section 2.3. Withdrawal of Registration Request. Each of the Carmel
Stockholders shall, as of the date hereof, withdraw the registration request it
submitted to the Company on April 12, 2002 pursuant to Section 9.3 of the
Stockholders' Agreement (the "Registration Request"). The Registration Request
shall be treated as null, void and without force or effect and none of the other
parties to the Stockholders' Agreement shall have any rights (including
piggy-back registration rights) or obligations as a result of the original
submission of the Registration Request or any subsequent submission of a request
for registration with respect or in response to such Registration Request.

      Section 2.4. Blackout and Lock-Up Periods.

      (a) All capitalized terms used in this Section 2.4 and not defined therein
or previously in this Third Amendment shall have the meanings set forth in
Section 2.5 of this Third Amendment.

      (b) Notwithstanding anything in Section 9.1 of the Stockholders Agreement,
except as provided in Section 2.5 of this Third Amendment, no Stockholder shall
exercise its rights to request any registration of shares under the
Stockholders' Agreement prior to the earliest occurrence of the following
events: (i) the Company not receiving a request to file a Default Registration
Statement by the eleventh day following a Company Default, (ii) the completion
of the period of distribution relating to an offering commenced pursuant to the
Default Registration Statement; (iii) the completion of the period of
distribution relating to an offering commenced pursuant to the Investcorp
Registration Statement; (iv) the completion of the period of distribution
relating to an offering commenced pursuant to the Carmel Registration Statement;
(v) the Company not receiving any request to file either the Investcorp
Registration Statement or the Carmel Registration Statement by the end of the
twenty-first (21st) day following the Lock-Up Release or the expiration of any
lock-ups imposed in connection with the Company Registration Statement; or (vi)
both the Company and the Carmel Stockholders have withdrawn all of their
respective shares from the Company Registration Statement. For purposes of this
Section 2.4, the period of distribution for any offering (other than the
offering in connection with the Default Registration Statement) shall be 90 days
following the effectiveness of the registration statement related to such
offering, or such earlier time as all of the shares registered under such
registration statement have been sold. In the case of the offering related to
the Default Registration Statement, the period of distribution shall be 180 days
following the effectiveness of the Default Registration Statement, or such
earlier time as all of the shares registered under the Default Registration
Statement have been sold.

      (c) In addition to any lock-up periods that may be imposed on any of the
Stockholders or the Company pursuant to Section 2.5, each of the Stockholders
and the Company agrees that it will not sell or issue (either publicly or
privately) any shares of Registrable Stock or any other shares of Capital Stock
(or securities convertible into Common Stock) during the following periods:

                                       7
<PAGE>
            (i) from the date of this Agreement until the earlier of (A) the
effectiveness of the Company Registration Statement; (B) the effectiveness of
the Default Registration Statement; (C) the end of the tenth day following a
Company Default, if the Company has not received a request to file a Default
Registration Statement by such time; or (D) such time as both the Company and
the Carmel Stockholders have withdrawn all of their respective shares from the
Company Registration Statement; and

            (ii) if the Company Registration Statement is declared effective,
from the Lock-Up Release or the expiration of any lock-ups imposed in connection
with the Company Registration Statement (collectively, the "Lock-Up Termination
Date") until the earlier of (X) the effectiveness of the Investcorp Registration
Statement; (Y) the effectiveness of the Carmel Registration Statement; or (Z)
the twenty-first day following the Lock-Up Termination Date, if the Company has
not received any request to file either the Investcorp Registration Statement or
the Carmel Registration Statement by such time

      (d) Notwithstanding anything contained in this Third Amendment, the
Company may issue shares of Common Stock upon the conversion of any convertible
securities or the exercise of any options outstanding as of the date hereof or
options issued in the future under plans in existence as of the date hereof.
Specifically, without limitation, the Company shall not be prohibited under this
Third Amendment from (A) converting the Convertible Debentures into Common Stock
upon the effectiveness of the Lehman Registration Statement; (B) issuing shares
of Common Stock upon the exercise of the Make-Whole Warrants; (C) issuing shares
upon the exercise of options issued under existing option plans; or (D) issuing
options under plans in existence as of the date hereof.

      (e) Except for the Lehman Registration Statement, the Make-Whole
Registration Statement, or a registration statement on Form S-8 or Form S-4 or
any successor form to such forms or a registration statement required under the
registration rights agreement entered into in connection with the Company's
Senior Notes issued on or about the Closing Date, the Company shall not file any
registration statements prior to the earlier to occur of the events described in
Section 2.4(b).

      Section 2.5. Registration Statements.

      (a) The Company shall file a registration statement (the "Company
Registration Statement"), which, except as otherwise provided herein, shall be
deemed to be an incidental registration statement under Section 9.2 of the
Stockholders' Agreement, registering shares of Capital Stock for sale to the
public in accordance with the terms of this Section 2.5 by June 14, 2002 (the
"Registration Date"), which is two days following the scheduled meeting of the
stockholders of the Company on a proposal to amend the Company's certificate of
incorporation to increase the authorized number of shares of the Company's
Common Stock to 58,000,000. Each Stockholder agrees to vote all of its shares of
Capital Stock in favor of approval of such proposal. Each Stockholder and the
Company agree to keep all members of the Company's board of directors appraised
of potential significant Company-related strategic developments, including any
discussions with third parties related thereto, until the effectiveness of the
Company Registration Statement.

                                       8
<PAGE>
      (b) Each Stockholder other than each of the Carmel Stockholders agrees
that it shall not request to include any shares of Common Stock held by such
party in the Company Registration Statement, pursuant to Section 9.2 of the
Stockholders' Agreement or otherwise, and hereby waives its right to participate
in the Company Registration Statement.

      (c) The total number of shares of Common Stock to be registered for sale
or resale in the Company Registration Statement shall be 11,284,000 (not
including any shares necessary to cover the over-allotment option), subject to
adjustment by the managing underwriter for the offering (as set forth in
paragraph 2.5(d) below). Of this amount, the Company shall register 5,642,000
shares of Common Stock for sale (plus any additional shares necessary to cover
the over-allotment option), and the Carmel Stockholders shall collectively
register up to 5,642,000 shares of Common Stock for resale.

      (d) The registration of Common Stock made in the Company Registration
Statement is to involve an underwritten public offering (the "Company
Offering"), and the managing underwriters shall be agreed upon in writing as
soon as possible by the Company and the Carmel Stockholders. The Carmel
Stockholders shall select the one firm from such managing underwriters that will
make all decisions as to when any lock-ups entered into in connection with the
Company Registration Statement shall terminate (the "Lock-Up Release
Underwriter"). The Lock-Up Release Underwriter shall serve as one of the joint
book running underwriters for the Company Offering. The Company shall determine
if there shall be two or three joint book running underwriters and shall select
the one or two additional joint book running underwriters (collectively, the
"Company Underwriter" and, together with the Lock-Up Release Underwriter, the
"Underwriter"), as the case may be, for the Company Offering. If the
Underwriter advises the Company in writing (with a copy to each Carmel
Stockholder) that, in its good faith opinion, the number of shares of Common
Stock requested to be included in the Company Registration Statement would
materially adversely affect the marketing of the shares to be sold by the
Company or the Carmel Stockholders (such writing to state the approximate number
of shares which may be included in the Company Offering without such effect),
the Company shall exclude from such registration, to the extent of the number of
shares which the Company is so advised must be excluded from the Company
Offering to avoid such adverse effect, (i) first, shares that the Company
proposes to register for its own account, up to 2,600,000 shares of Common
Stock; (ii) second, shares that the Carmel Stockholders requested to be included
in such registration up to an aggregate maximum for all Carmel Stockholders of
2,600,000 shares of Common Stock; and (iii) third, additional shares allocated
pro rata between the number of remaining shares that the Company proposed to
register for its own account and the number of remaining shares that the Carmel
Stockholders requested to be included in the Company Registration Statement. If
there are three joint book running underwriters, then the Company and the Carmel
Stockholders shall require that the Underwriter's determinations regarding (A)
the offering price of the shares in the Company Offering and (B) any reduction
in the number of shares to be included in the Company Offering (as provided in
the previous sentence), shall be made either by agreement among the joint book
running underwriters or, if they do not reach such an agreement, by averaging
the good faith price or reduction, as the case may be, suggested by the Lock-Up
Release Underwriter and the good faith price or reduction, as the case may be,
suggested by the Company Underwriter. Notwithstanding Section 9.8 of the
Stockholders'

                                       9
<PAGE>
Agreement, if requested in writing by the Underwriter, each Stockholder agrees
not to sell publicly any shares of Registrable Stock or any other shares of
Capital Stock (other than shares of Registrable Stock or other shares of Capital
Stock being registered in the Company Offering), without the consent of the
Lock-Up Release Underwriter, for a period of not more than 90 days following the
effective date of the Company Registration Statement. For purposes of
clarification, "materially adversely affect" means a reduction in price of at
least $0.50 per share.

      (e) Notwithstanding any other provision of this Section 2.5, at any time
prior to the time the Company Registration Statement is declared effective, any
party that has registered shares for sale or resale pursuant to the Company
Registration Statement shall have the right to not sell all or any portion of
such shares pursuant to, and may withdraw all or any portion of such shares
from, the Company Registration Statement, subject to the provisions of this
Section 2.5(e). The Company shall provide the Carmel Stockholders with written
notice (the "Effectiveness Notice") at least 48 hours prior to the date of the
proposed effectiveness. The Company and the Carmel Stockholders shall
immediately inform each other upon any withdrawal of shares from the Company
Registration Statement.

            (i) If the Carmel Stockholders withdraw all of their shares from the
Company Registration Statement (regardless of the price of the shares offered
pursuant to the Company Registration Statement), the Company may (but shall not
be obligated to) proceed to register shares for its own account pursuant to the
Company Registration Statement and such withdrawal shall not terminate the
lock-ups of the Carmel Stockholders entered into pursuant to Section 2.5(d). If
the Carmel Stockholders withdraw some but not all of their shares from the
Company Registration Statement, the Company shall either (A) proceed to register
the remaining Carmel Stockholder shares and shares for its own account pursuant
to the Company Registration Statement, or (B) shall withdraw all of the
Company's shares from the Company Registration Statement, in which case the
parties' rights with respect to the Company Registration Statement will be
governed by the remainder of this Section 2.5(e).

            (ii) If the Company withdraws all of its shares from the Company
Registration Statement and (A) the shares offered for sale thereunder are priced
by the Underwriter at more than 80% of the closing price on the NYSE for the
Company's Common Stock on May 8, 2002 per share (the "Price"), and (B) the
Carmel Stockholders have not previously or contemporaneously withdrawn all of
their shares from the Company Registration Statement, then the Carmel
Stockholders shall, within two Business Days of the Company's withdrawing its
shares from the Company Registration Statement either (X) withdraw their shares
from the Company Registration Statement; (Y) direct the Company to continue to
use its best efforts to have the Company Registration Statement (registering
only shares included thereunder for resale by the Carmel Stockholders) declared
effective and to cooperate in such manner as may be reasonably requested by the
Carmel Stockholders in the marketing of all shares to be sold in the Company
Offering ("Marketing Activities," which shall include, without limitation, the
Company participating in any customary "road shows" and related presentations to
prospective purchasers in connection therewith, and using all reasonable efforts
to maximize the price at which such shares are sold); or (Z) direct the Company
to file a Default Registration Statement (as defined below) pursuant to Section
2.5(f)(v) of this Third Amendment.

                                       10
<PAGE>
            (iii) If the Company withdraws all of its shares from the Company
Registration Statement and the shares offered for sale thereunder are priced by
the Underwriter at or below the Price, and if the Carmel Stockholders have not
withdrawn or do not withdraw all of their shares from the Company Registration
Statement, the Company shall use its best efforts to file and to cause to go
effective an amended Company Registration Statement, and shall cooperate in
Marketing Activities as reasonably requested by the Carmel Stockholders.

            (iv) In the event that the both the Company and each of the Carmel
Stockholders have withdrawn all of their shares from the Company Registration
Statement pursuant to this Section 2.5(e), all terms and conditions of this
Third Amendment and the Stockholders' Agreement shall remain in full force and
effect, except that the restrictions set forth in Section 2.4 of this Third
Amendment shall terminate. If the Company or one or more Carmel Stockholders
refuses to enter into an underwriting agreement in connection with the Company
Registration Statement or determines to sell less than all of its shares
pursuant to such underwriting agreement, any such refusing party shall be deemed
under this Third Amendment to have withdrawn from the Company Registration
Statement any of its shares not sold pursuant to such underwriting agreement.

            (v) Once the Company or any Carmel Stockholder has withdrawn its
shares from the Company Registration Statement, any such withdrawing party shall
not be entitled to re-include any withdrawn shares in the Company Registration
Statement without the prior written consent of all non-withdrawing parties.

      (f)   Subsequent Registration Statements.

            (i) In any underwriting agreement relating to the Company Offering,
the Company will require that if the Lock-Up Release Underwriter agrees to an
early release of any lock-up imposed in connection with the Company Registration
Statement ("Lock-Up Release"), which Lock-Up Release shall apply to all such
lock-ups, each other underwriter involved in the Company Offering must also
release any such lock-up.

            (ii) Following the Lock-Up Termination Date, the Company shall
provide written notice of the occurrence of such Lock-Up Termination Date to all
Stockholders. Each member of the Investcorp Group shall have ten (10) days from
receipt of such notice to request the Company to file a registration statement
under Section 9.1 or 9.3 of the Stockholders' Agreement (the "Investcorp
Registration Statement"), which registration statement may include some or all
of the shares held by any such Investcorp Group member. Upon receiving a request
pursuant to this Section 2.5(f)(ii), the Company shall promptly notify the
Carmel Stockholders and The JAB Trust in writing that it has received a request
to file the Investcorp Registration Statement. Each Carmel Stockholder and The
JAB Trust shall have 10 days following receipt of such notice from the Company
to inform the Company whether such Stockholder wishes to include its shares in
the Investcorp Registration Statement. Each Carmel Stockholder shall have the
right to include any of its remaining shares (whether registered or
unregistered) in the Investcorp Registration Statement, and The JAB Trust shall
have the right to include any of its shares in the Investcorp Registration
Statement. The Company shall not be delayed in filing the Investcorp
Registration

                                       11
<PAGE>
Statement by the application of the last sentence of Section 9.1(c) of the
Stockholders' Agreement with respect to the Company Registration Statement.

            (iii) If the registration of Common Stock made in the Investcorp
Registration Statement involves an underwritten public offering (the "Investcorp
Offering"), the Investcorp Group shall be entitled to select the sole or the
lead managing underwriter, as the case may be, of such offering (the "Investcorp
Underwriter"); provided, however, that if (A) the Carmel Stockholders do not
sell all of their shares pursuant to the Company Registration Statement, and (B)
the shares offered in the Company Offering were priced by the Underwriter (net
of underwriting discounts and commissions) below the Price, then (i) three joint
book running underwriters shall participate in the Investcorp Offering, (ii) one
of which shall be selected by the Carmel Stockholders, and two of which shall be
selected by the Investcorp Group (the three joint book running underwriters
shall be referred to herein as the "Investcorp Underwriter"), and (iii)
agreements among the underwriters with regard to price and reduction in the
number of shares included in the Investcorp Offering shall be made in the manner
specified in Section 2.5(d). If the Investcorp Underwriter advises the Company
in writing (with a copy to each Stockholder registering shares for resale in the
Investcorp Registration Statement) that, in its good faith opinion, the number
of shares of Common Stock requested to be included in the Investcorp
Registration Statement would materially adversely affect (as defined in Section
2.5(d)) the marketing of the shares to be sold in such offering (such writing to
state the approximate number of shares which may be included in such offering
without such effect), the Company shall include in such registration: first, a
number of shares of Common Stock owned by the Investcorp Group equal to the
number of shares of Common Stock sold by the Carmel Stockholders pursuant to the
Company Registration Statement; and second, shares allocated pro rata between
the remaining collective number of shares proposed to be included by members of
the Investcorp Group and the collective number of shares proposed to be included
by the Carmel Stockholders and The JAB Trust. If requested in writing by the
Investcorp Underwriter, each Stockholder agrees not to sell publicly any shares
of Registrable Stock or any other shares of Capital Stock (other than shares of
Registrable Stock or other shares of Capital Stock being registered in the
Investcorp Offering), without the consent of such Investcorp Underwriter, for a
period of not more than 90 days following the effective date of the Investcorp
Registration Statement.

            (iv) If following receipt of notice from the Company concerning the
Lock-Up Termination Date the Investcorp Group does not request that the Company
file the Investcorp Registration Statement pursuant to Section 2.6(f)(ii) within
such ten day period, each Carmel Stockholder will have ten (10) days to request
the Company to file a registration statement under Section 9.1 or 9.3 of the
Stockholders' Agreement (the "Carmel Registration Statement"). Only the Carmel
Stockholders shall be entitled to participate in the Carmel Registration
Statement, and each Carmel Stockholder shall have the right to include any of
its remaining shares (whether registered or unregistered) in the Carmel
Registration Statement. If the registration of Common Stock made in the Carmel
Registration Statement involves an underwritten public offering (the "Carmel
Offering"), the Carmel Stockholders shall be entitled to select the sole or the
lead managing underwriter, as the case may be, of such offering (the "Carmel
Underwriter"). If requested in writing by the Carmel Underwriter, the Company
and each Stockholder (other than each Carmel Stockholder participating in such
offering) agree not to sell publicly any shares of

                                       12
<PAGE>
Registrable Stock or any other shares of Capital Stock without the consent of
such underwriter for a period of not more than 90 days following the effective
date of the Carmel Registration Statement. The Company shall not be delayed in
filing the Carmel Registration Statement by the application of the last sentence
of Section 9.1(c) of the Stockholders' Agreement with respect to the Company
Registration Statement or otherwise.

            (v) The Stockholders agree that a "Company Default" shall have
occurred if, at any time prior to the Carmel Stockholders withdrawing all of its
shares from the Company Registration Statement, the Company (i) does not file
the Company Registration Statement by the Registration Date (a "Filing
Default"); (ii) does not use its best efforts to have the Company Registration
Statement declared effective as promptly as practicable or cooperate in
Marketing Activities reasonably requested by the Carmel Stockholders (a "Best
Efforts Default"); or (iii) has withdrawn all of its shares from the Company
Registration Statement and the shares offered for sale thereunder are priced by
the Underwriter at more than the Price (a "Benchmark Withdrawal Default"). Upon
the occurrence of a Company Default, notwithstanding anything herein to the
contrary, each Carmel Stockholder may during the Default Notice Period (as
defined in Section 2.5(f)(vi) request that the Company file a registration
statement under Section 9.1 or 9.3 of the Stockholders' Agreement (the "Default
Registration Statement"), which registration statement may include some or all
of the shares held by any such Carmel Stockholder. The Company must file any
Default Registration Statement within two Business Days of receiving such a
request from any Carmel Stockholder. If the Company fails to timely file a
Default Registration Statement, or fails to cause the Default Registration
Statement to be declared effective within 150 days of the date such Default
Registration Statement was filed, it shall pay the Carmel Stockholders damages
calculated in the same manner provided in Section 9.1(d)(viii) of the
Stockholders' Agreement. The Company and each Stockholder (other than each
Carmel Stockholder) shall have no right to include any shares (whether
registered or unregistered) in the Default Registration Statement. The Company
shall be bound by the final sentence of Section 9.1(c) following the filing of
the Default Registration Statement. Additionally, the Company and each
Stockholder (other than each Carmel Stockholder participating in such offering)
agree not to issue or sell (publicly or privately) any shares of Registrable
Stock or any other shares of Capital Stock for 180 days following the
effectiveness of the Default Registration Statement or such earlier time as all
of the shares registered under the Default Registration Statement have been
sold.

            (vi) The "Default Notice Period" shall mean: (A) with respect to a
Filing Default, ten (10) days after such Filing Default; (B) with respect to a
Best Efforts Default, at any time when such a Company Default has occurred and
is continuing, or, if the Company has delivered to the Carmel Stockholders
written notice of its intent to abandon its efforts to cause the Company
Registration Statement to go effective, within ten (10) days of the Carmel
Stockholders' receipt of such notice; or (iii) with respect to a Benchmark
Withdrawal Default, two Business Days after such Benchmark Withdrawal Default.

      Section 2.6. Appointment of Additional Directors. If the Stockholders'
Agreement has not been terminated pursuant to Section 12 thereof, upon a request
from the Carmel Stockholders, each Stockholder party to this Third Amendment
agrees to take all possible actions to cause two additional persons designated
by the Carmel Stockholders (in addition to the three

                                       13
<PAGE>
persons designated by the Carmel Stockholders as of the date of this Third
Amendment) to be elected to the Company's Board of Directors (the "Board"). If
the Carmel Stockholders designate additional persons to be elected to the Board,
each Stockholder party to this Third Amendment further agrees to take all
possible actions to cause two additional persons designated by the Investcorp
Group (in addition to any persons designated by the Carmel Stockholders as of
the date of this Third Amendment) to be elected to the Board. Any actions taken
by the Stockholders pursuant to this Section 2.6 shall be conducted as promptly
as practicable following the annual meeting of the Company's stockholders on
June 12, 2002, and prior to the next such annual meeting of the Company's
stockholders.

      Section 2.7. Continuation of Stockholders' Agreement. Subject to the terms
of this Third Amendment and the Stockholders' Agreement generally, to the extent
any Stockholder retains any Registrable Stock all rights or obligations granted
under the Stockholders' Agreement not expressly waived or amended hereby shall
continue to be binding on each such Stockholder, including without limitation
all registration rights and obligations applicable to such Registrable Stock.

                                ARTICLE III
                               MISCELLANEOUS

      3.1. Counterparts. This Third Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

      3.2. Captions. The captions herein are included for convenience of
reference only and shall not be construed in the construction or interpretation
hereof. All references to an Article or Section include all subparts thereof.

      3.3 Definitions. Initial capitalized terms used herein without definition
that are defined in the Stockholders' Agreement shall have the meanings given to
such terms therein.

                          [SIGNATURE PAGES FOLLOW]

                                       14
<PAGE>
       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT

      IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to
be duly executed as of the day and year first above-written.

CSK AUTO CORPORATION

/s/  Martin Fraser
---------------------------------------------
Name:  Martin Fraser
Title: President and Chief Operating Officer

CSK AUTO, INC.

/s/  Martin Fraser
---------------------------------------------
Name:  Martin Fraser
Title: President and Chief Operating Officer

MAYNARD JENKINS

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

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT
<PAGE>
EQUITY CSKA LIMITED

By:  /s/  Sydney J. Coleman
     ----------------------------------------
     Name:  The Director Ltd.
     Title: Director

EQUITY CSKB LIMITED

By:  /s/  Sydney J. Coleman
     ----------------------------------------
     Name:  The Director Ltd.
     Title: Director

EQUITY CSKC LIMITED

By:  /s/  Sydney J. Coleman
     ----------------------------------------
     Name:  The Director Ltd.
     Title: Director

AUTO EQUITY LIMITED

By:  /s/  Glen Wigney
     ----------------------------------------
     Name:  Glen Wigney
     Title: Director

AUTO PARTS LIMITED

By:  /s/  William Walmsley
     ----------------------------------------
     Name:  William Walmsley
     Title: Director

AUTO INVESTMENTS LIMITED

By:  /s/  Michael Pilling
     ----------------------------------------
     Name:  Michael Pilling
     Title: Director

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT
<PAGE>
CSK INVESTMENTS LIMITED

By:  /s/  Glen Wigney
     ----------------------------------------
     Name:  Glen Wigney
     Title: Director

CSK EQUITY LIMITED

By:  /s/  Michael Pilling
     ----------------------------------------
     Name:  Michael Pilling
     Title: Director

NEW CSK EQUITY LIMITED

By:  /s/  Glen Wigney
     ----------------------------------------
     Name:  Glen Wigney
     Title: Director

INVESTCORP CSK HOLDINGS L.P.

By:  /s/  Ebrahim H. Ebrahim
     ----------------------------------------
     Name:  Ebrahim H. Ebrahim
     Title: Director

CSK INTERNATIONAL LIMITED

By:  /s/ William Walmsley
     ----------------------------------------
     Name:  William Walmsley
     Title: Director

J.P. MORGAN (SUISSE) SA, AS SUCCESSOR
TO CHASE MANHATTAN PRIVATE BANK
(SWITZERLAND)

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

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT
<PAGE>
SOUTH BAY LIMITED

By:  /s/  Illegible
     ----------------------------------------
     Name:  Martonmere Services Ltd.
     Title: Director

BALLET LIMITED

By:  /s/  Stephen Atkinson
     ----------------------------------------
     Name:  Stephen Atkinson
     Title: Authorized Representative

DENARY LIMITED

By:  /s/  Mahmood Al Aradi
     ----------------------------------------
     Name:  Mahmood Al Aradi
     Title: Authorized Representative

GLEAM LIMITED

By:  /s/  Meredith J. Brody
     ----------------------------------------
     Name:  Meredith J. Brody
     Title: Authorized Representative

HIGHLANDS LIMITED

By:  /s/  Abeer Al Shehabi
     ----------------------------------------
     Name:  Abeer Al Shehabi
     Title: Authorized Representative

NOBLE LIMITED

By:  /s/  Ebrahim H. Ebrahim
     ----------------------------------------
     Name:  Ebrahim H. Ebrahim
     Title: Authorized Representative

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT
<PAGE>
OUTRIGGER LIMITED

By:  /s/  T. Kennedy
     ----------------------------------------
     Name:  Thomas Kennedy
     Title: Authorized Representative

QUILL LIMITED

By:  /s/  Chris Carolan
     ----------------------------------------
     Name:  Chris Carolan
     Title: Authorized Representative

RADIAL LIMITED

By:  /s/  Keith Reid
     ----------------------------------------
     Name:  Keith Reid
     Title: Authorized Representative

SHORELINE LIMITED

By:  /s/  Jameel Al Sharaf
     ----------------------------------------
     Name:  Jameel Al Sharaf
     Title: Authorized Representative

ZINNIA LIMITED

By:  /s/ Rishi Kappor
     ----------------------------------------
     Name:  Rishi Kappor
     Title: Authorized Representative

INVESTCORP INVESTMENT EQUITY LIMITED

By:  /s/ Sydney J. Coleman
     ----------------------------------------
     Name:  Sydney J. Coleman
     Title: Director

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT
<PAGE>
CHILTERN TRUSTEES LIMITED, AS TRUSTEE
OF CARMEL TRUST

By:  /s/  Illegible
     ----------------------------------------
     Name:  Illegible
     Title: Director

TRANSATLANTIC INVESTMENTS, LLC.

By:  /s/  James Lieb
     ----------------------------------------
     Name:  James Lieb
     Title: EVP

GLENELLEN INVESTMENT CO.

By:  /s/  Robert Smith
     ----------------------------------------
     Name:  Robert Smith
     Title: Illegible

THE JAB TRUST

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

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

       SIGNATURE PAGES TO THIRD AMENDMENT TO STOCKHOLDERS' AGREEMENT

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