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                           SECOND AMENDED AND RESTATED
                             SHAREHOLDERS AGREEMENT

                                 BY AND BETWEEN

                         INVERSIONES LOS AVELLANOS S.A.,

                       HAZELS (BAHAMAS) INVESTMENTS INC.,

                                       AND

                              SOLIMAR HOLDINGS LTD.

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               SECOND AMENDED AND RESTATED SHAREHOLDERS AGREEMENT

         This SECOND AMENDED AND RESTATED SHAREHOLDERS AGREEMENT, dated as of
September 21, 2006, is made by and between INVERSIONES LOS AVELLANOS S.A., a
company organized under the laws of Chile ("LOS AVELLANOS"), HAZELS (BAHAMAS)
INVESTMENTS INC., a company organized under the laws of the Bahamas ("HAZELS"),
and SOLIMAR HOLDINGS, LTD, a company organized under the laws of Bermuda
("SOLIMAR").

                                    RECITALS:

         WHEREAS, pursuant to a Stock Purchase Agreement dated as of March 7,
2000 (the "ULTRAPETROL SPA") by and among Ultrapetrol (Bahamas) Limited, a
company organized and existing under the laws of The Commonwealth of The Bahamas
(the "COMPANY"), Solimar Holdings LDC, a limited duration company organized
under the laws of Cayman Islands ("ORIGINAL SOLIMAR"), Los Avellanos and Societe
Internationale d'Investissements S.A., a company organized under the laws of The
Commonwealth of The Bahamas ("SII"), the Company, upon the terms and subject to
the conditions set forth in the Ultrapetrol SPA, issued and sold to Original
Solimar and Original Solimar subscribed for and purchased from the Company a
total of Nine Hundred Ninety Six Thousand and Nine (996,009) shares of Common
Stock (as such term is defined in Section 1.1), which represents 49.90% of the
Capital Stock (as such term is defined in Section 1.1) of the Company, as of the
date hereof;

         WHEREAS, as a condition precedent to the performance of the obligations
of the parties under the Ultrapetrol SPA, the Company, Original Solimar, Los
Avellanos and SII entered into a Shareholders Agreement dated as of March 16,
2000 (the "ORIGINAL SHAREHOLDERS AGREEMENT"), pursuant to which, the parties to
the Original Shareholders Agreement agreed, among other things, to regulate all
matters concerning (i) the management of the Company and the Subsidiaries (as
such term is defined in Section 1.1) and (ii) the ownership and transfer of the
Common Stock and any other Capital Stock of the Company owned by the
Shareholders (as such term is defined in Section 1.1);

         WHEREAS, pursuant to a Stock Purchase Agreement, dated as of September
16, 2000 (as amended and restated in its entirety by the Amended and Restated
Stock Purchase Agreement dated as of October 12, 2000, the "AVEMAR SPA") by and
among Avemar Holdings (Bahamas) Limited ("AVEMAR"), SII, the Company, Trafigura
Beheer B.V., a company organized under the laws of The Netherlands, Original
Solimar and Los Avellanos (a) the Company purchased from SII a total of Five
Hundred Thirty-Seven Thousand One Hundred Forty-Four (537,144) shares of Common
Stock constituting all of the shares of Common Stock owned by SII upon the terms
and subject to the conditions sets forth in the Avemar SPA, which represents
26.91% of the Capital Stock of the Company as of the date hereof, and thereafter
contributed all such shares of Common Stock to Avemar, and (b) SII ceased to be
a party to the Original Shareholders Agreement effective as of October 12, 2000;

         WHEREAS, on November 20, 2000 Original Solimar assigned to Solimar all
of the certificates representing a total of Nine Hundred Ninety-Six Thousand and
Nine (996,009) shares

                                      (2)

of Common Stock, constituting all the shares of Common Stock owned by Original
Solimar;

         WHEREAS, in connection with the transfer of the Nine Hundred Ninety-Six
Thousand and Nine (996,009) shares of Common Stock from Original Solimar to
Solimar, Solimar and Original Solimar entered into an Assignment and Assumption
Agreement dated as of November 20, 2000 pursuant to which Solimar accepted the
assignment of the rights and benefits of, and agreed to assume the duties and
obligations of, Original Solimar under, and to be bound by, the Ultrapetrol SPA,
the Ultrapetrol SPA Transaction Agreements (as defined in Section 1.1), the
Avemar SPA and the Transaction Agreements (as such term is defined in the Avemar
SPA) entered into by Original Solimar, including, without limitation, the
Original Shareholders Agreement;

         WHEREAS, in connection with the Transfer (as defined in Section 1.1) of
the shares of Common Stock owned by (i) SII to Avemar, Avemar and the Company
entered into an Accession Agreement dated as of October 12, 2000, and (ii)
Original Solimar to Solimar, Solimar and the Company entered into an Accession
Agreement dated as of November 20, 2000, all in accordance with the requirements
of Section 5.1(f) of the Original Shareholders Agreement;

         WHEREAS, in connection with the Transfer of the shares of Common Stock
owned by (i) SII to Avemar and (ii) Original Solimar to Solimar, (as described
in the above Recitals), Los Avellanos, Solimar, Avemar and the Company amended
and restated the Original Shareholders Agreement in its entirety as provided in
the Amended and Restated Shareholders' Agreement dated as of November 21, 2000
("AMENDED AND RESTATED SHAREHOLDERS' AGREEMENT");

         WHEREAS, as of March 21, 2006, the Existing Shareholders and the
Company entered into an agreement which was amended and restated as of the date
hereof (the "TERMINATION AGREEMENT") pursuant to which Avemar shall, immediately
prior to the closing of the IPO (as defined in Section 1.1), distribute to the
Existing Shareholders on a pro-rata basis the 3,947,266 shares of common stock
of the Company constituting all of the shares of such Common Stock owned by
Avemar, representing 25.47% of the Capital Stock of the Company;

         WHEREAS, Avemar shall cease to be a shareholder of the Company and a
party to the Amended and Restated Shareholders Agreement prior to the
consummation of the IPO;

         WHEREAS, Los Avellanos transferred 79,866 shares of the Company to
Hazels, an Affiliate, on November 22, 2005;

         WHEREAS, Solimar, Los Avellanos and Hazels (the "EXISTING
SHAREHOLDERS") will own, immediately prior to the closing of the IPO, issued and
outstanding shares of Common Stock as follows:

Existing Shareholder              Shares Owned              Percentage Interest
    Los Avellanos                  4,892,465                       31.56%
       Hazels                       787,435                        5.08%
       Solimar                     9,820,100                       63.36%

                                      (3)

         WHEREAS, under the terms of the Warrant Agreement, Solimar owns
warrants to purchase, as of the date of this Agreement, up to 19,920 voting
shares of our common stock at an exercise price of $50.20, which after the
completion of the IPO and the related share split, will represent up to 146,384
shares of the Company's voting common stock at an exercise price of $6.83 as
follows:

                               Shares Owned                    Exercise Price
Solimar                          146,384                           $6.83

         WHEREAS, as a consequence of the proposed IPO the Company resolved to
amend the Memorandum and Articles of Association to provide, inter alia, that
Common Stock of the Company shall comprise one (1) class of shares: composed of
one hundred million (100,000,000) shares of par value 0.01 per share which
shares shall be entitled to seven (7) votes per share when held by the any
Existing Shareholder but only one (1) vote when held by any other party;

         WHEREAS, as a consequence of the transactions described in the
foregoing recitals, the Existing Shareholders have agreed to enter into this
Second Amended and Restated Shareholders' Agreement;

         NOW, THEREFORE, in consideration of the promises and the mutual
representations, warranties and covenants and agreements contained herein, the
receipt and sufficiency of which are hereby acknowledged, and intending to be
legally bound hereby, the parties to this Agreement hereby agree as follows:

                                    ARTICLE I

                       DEFINITIONS; RULES OF CONSTRUCTION

         SECTION 1.1 DEFINITIONS. When used in this Agreement, the following
terms shall have the respective meanings specified therefor below:

         "AFFILIATE" shall mean, with respect to any Person, any other Person
directly or indirectly Controlling, Controlled by, or under common Control with,
such Person.

         "AGREEMENT" shall mean this Second Amended and Restated Shareholders
Agreement, as further amended, restated, supplemented or otherwise modified from
time to time pursuant to the terms hereof.

          "AVEMAR" shall have the meaning assigned to such term in the Recitals.

         "AVEMAR SPA" shall have the meaning assigned to such term in the
Recitals.

         "BOARD OF DIRECTORS" shall have the meaning assigned to such term in
Section 2.1.

                                      (4)

         "BUSINESS DAY" shall mean any day, other than a Saturday, Sunday or a
day on which banks located in New York City or Nassau, Bahamas shall be
authorized or required by law to close.

         "CAPITAL STOCK" shall mean (a) as to any Person that is a corporation,
the authorized capital stock of such Person, including all classes and series of
common, preferred, voting and nonvoting capital stock, and (b) as to any Person
that is not a corporation or an individual, the ownership interests in such
Person, including, without limitation, the right to share in profits and losses,
the right to receive distributions of cash and property, and the right to
receive allocations of items of income, gain, loss, deduction and credit and
similar items from such Person, whether or not such interests include voting or
similar rights entitling the holder thereof to exercise control over such
Person.

         "CAUSE" shall have the meaning assigned thereto in the employment
agreement of Mr. Felipe Menendez Ross dated as of July 20, 2006.

         "CHAIRMAN" shall have the meaning assigned to such term in Section 2.2.

         "CHANGE OF CONTROL" shall mean a Los Avellanos Change of Control or a
Solimar Change of Control, as the case may be.

         "CHIEF EXECUTIVE OFFICER" shall have the meaning assigned to such term
in Section 2.2.

         "COMMON STOCK" shall mean (a) the ordinary common shares of the
Company, par value $.01 per share, issued and outstanding as of the date hereof
and held by the Existing Shareholders as of the date of this Agreement, (b) any
shares of Common Stock acquired after the date hereof by a Shareholder, whether
by purchase, dividend or other distribution, or as a result of a stock split, or
otherwise, and (c) any Capital Stock of the Company hereafter acquired by a
Shareholder upon or in respect of the Common Stock as a result of an exchange,
conversion, merger, consolidation, stock dividend, stock split, reclassification
or capital reorganization.

         "COMPANY" shall have the meaning assigned to such term in the Preamble.

         "CONTINGENT OBLIGATION" shall mean, as to any Person, any obligation of
such Person guaranteeing or intended to guarantee any Indebtedness, leases,
dividends or other obligations (the "PRIMARY OBLIGATIONS") of any other Person
(the "PRIMARY OBLIGOR") in any manner, whether directly or indirectly,
including, without limitation, any obligation of such Person, whether or not
contingent, (a) to purchase any such primary obligation or any property
constituting direct or indirect security therefor, (b) to advance or supply
funds (i) for the purchase or payment of any such primary obligation or (ii) to
maintain working capital or equity capital of the primary obligor or otherwise
to maintain the net worth or solvency of the primary obligor, (c) to purchase
property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make
payment of such primary obligation or (d) otherwise to assure or hold harmless
the holder of such primary obligation against loss in respect thereof; provided
that the term Contingent Obligation shall not include endorsements of
instruments for deposit or collection in the ordinary course of business. The
amount of any Contingent Obligation shall be deemed to be an amount equal to the
stated or determinable amount of the primary obligation in respect of which such
Contingent Obligation is

                                      (5)

made or, if not stated or determinable, the maximum reasonable anticipated
liability in respect thereof (assuming such Person is required to perform
thereunder) as determined by such Person in good faith.

         "CONTROL," "CONTROLLED" OR "CONTROLLING" shall mean, with respect to
any Person, any circumstance in which such Person is directly or indirectly
controlled by another Person by virtue of the latter Person having the power to
(a) elect, or cause the election of (whether by way of voting Capital Stock, by
contract, or otherwise), the majority of the members of the board of directors
or a similar corporate body of the former Person, or (b) direct (whether by way
of voting Capital Stock, by contract or otherwise) the affairs and policies of
such Person.

         "DIRECTOR" shall mean a member of the Board of Directors other than the
Independent Directors.

         "DISPUTE" shall have the meaning assigned to such term in Section
7.13(a).

         "DOLLARS" or "U.S. $" shall mean the lawful currency of the United
States of America.

         "EXISTING SHAREHOLDERS" shall collectively mean Los Avellanos, Hazels,
Solimar and any Permitted Transferee; provided that the term Existing
Shareholder shall not include any other Transferee that has acquired any of such
Existing Shareholder's Common Stock or any other Capital Stock of the Company
and has become a party to this Agreement.

         "FULLY-DILUTED BASIS" shall mean, with respect to the Common Stock or
any other Capital Stock of the Company, at any date as of which the number of
shares thereof is to be determined, all shares of Common Stock or any other
Capital Stock of the Company, as the case may be, outstanding at such date and
all shares of Common Stock or any other Capital Stock of the Company, as the
case may be, issuable pursuant to vested and exercisable options, warrants or
other rights to purchase or acquire, or securities convertible into, shares of
Common Stock or any other Capital Stock of the Company, as the case may be,
outstanding on such date.

         "GAAP" shall mean generally accepted accounting principles in the
United States, consistently applied.

         "GOVERNMENTAL AUTHORITY" shall mean any government (or any subdivision
thereof, whether federal, central, provincial or local) of any country or
jurisdiction, or any agency, authority, board, bureau, commission, department,
judicial or administrative body, instrumentality, regulatory authority or
similar body or instrumentality thereof, or any governmental court or tribunal.

         "HAZELS" shall have the meaning assigned to such term in the Preamble;

         "ICC" shall have the meaning assigned to such term in Section 7.13(a).

         "INDEBTEDNESS" shall mean, as to any Person, without duplication, (a)
all indebtedness (including principal, interest, fees and charges) of such
Person for borrowed money or for the deferred purchase price of property or
services other than trade payables and accrued expenses arising in the ordinary
course of business in accordance with customary trade terms, (b) the maxi-

                                      (6)

mum amount available to be drawn under all letters of credit issued for the
account of such Person and all unpaid drawings in respect of such letters of
credit, (c) all Indebtedness of the types described in this definition secured
by any Lien on any property owned by such Person, whether or not such
Indebtedness has been assumed by such Person, (d) all capitalized lease
obligations of such Person, (e) all obligations of such Person to pay a
specified purchase price for goods or services, whether or not delivered or
accepted, (for example, take-or-pay and similar obligations), (f) all Contingent
Obligations of such Person, (g) all obligations under any interest rate
protection agreements, currency protection agreements, interest rate swaps,
control disbursement accounts, repurchase agreements, reverse repurchase
agreements, caps, collars, derivatives, currency hedge agreements or other
similar types of agreements, and (h) any premiums and other amounts payable to
any third party pursuant to any mandatory prepayment obligations under the terms
of any Indebtedness as a result of the consummation of the transactions
contemplated hereby.

         "INDENTURE" shall mean the Indenture dated as of November 24, 2004
between the Company and Manufacturers and Traders Trust Company, as trustee,
entered into in connection with the issuance of Notes by the Company, and any
new indenture between the Company and any trustee executed for purposes of the
issuance of any Notes.

         "INDEPENDENT DIRECTOR" shall mean a director of the Company qualifying
as "independent" pursuant to the rules of the Relevant Stock Exchange and as
otherwise required by the Securities Act.

         "IPO" shall mean the proposed underwritten initial public offering by
the Company of the Common Stock of the Company pursuant to the registration
statement on Form F-1 initially filed by the Company on March 30, 2006 under the
Securities Act.

         "LAIF" shall mean AIG-GE Capital Latin American Infrastructure Fund
L.P., a limited partnership organized under the laws of Bermuda.

         "LIEN" shall mean any lien, security interest, option, right of first
refusal, easement, mortgage, charge, indenture, deed of trust, right of way,
restriction on the use of real property, encroachment, license to third parties,
lease to third parties, security agreement, or any other encumbrance and other
restriction or limitation on the use of real or personal property or
irregularities in title thereto.

         "LIQUID SECURITIES" shall mean any equity or debt securities of any
Person for which there is an available market and the realizable fair market
value of which is easily determinable.

         "LOS AVELLANOS" shall have the meaning assigned to such term in the
Preamble.

         "LOS AVELLANOS AND/OR HAZELS" shall mean Los Avellanos and Hazels in
the aggregate.

         "LOS AVELLANOS CHANGE OF CONTROL" shall mean the occurrence of any
transaction or series of related transactions as a result of which the Menendez
Family Entities no longer Control, directly or indirectly, Los Avellanos and
Hazels.

         "LOS AVELLANOS DIRECTORS" shall have the meaning assigned to such term
in Section 2.1.

                                      (7)

         "MEMORANDUM AND ARTICLES OF ASSOCIATION" shall mean the Memorandum and
Articles of Association of the Company, as each may be amended, restated,
supplemented or otherwise modified from time to time in accordance with the
provisions of this Agreement and/or with any documents relating to the proposed
IPO transaction.

         "MENENDEZ FAMILY ENTITIES" shall mean any Person that is directly or
indirectly Controlled or beneficially owned by any of Messrs. Felipe Menendez
Ross, Ricardo Menendez Ross, Julio Menendez Ross, the descendants of Isabel
Menendez or any other member (whether by birth, adoption or marriage) of the
family of any of such individuals.

         "NOTES" shall mean the U.S.$180,000,000 aggregate principal amount of
9% First Preferred Ship Mortgage Notes due 2014 issued pursuant to the Indenture
and any new notes that in the future may be issued by the Company the proceeds
of which are used to refinance any substantial part of the U.S.$180,000,000 debt
referred to above.

         "ORIGINAL SHAREHOLDERS AGREEMENT" shall have the meaning assigned to
such term in the Recitals.

         "ORIGINAL SOLIMAR" shall have the meaning assigned to such term in the
Recitals.

         "PARTIES" shall mean, collectively, each of the Existing Shareholders,
and any other Person which, after the date hereof, becomes a party to this
Agreement.

         "PERMITTED TRANSFEREE" shall mean (i) an Existing Shareholder, (ii) the
Menendez Family Entities, (iii) LAIF, (iv) an entity, the sole purpose of which
is to hold assets of LAIF for eventual liquidation or (v) in the case of a
distribution of Solimar or its assets, an entity not owned more than twenty-five
percent (25%) by any one beneficial owner.

         "PERSON" shall mean any individual, company, limited public company,
limited private company, partnership, corporation, limited liability company,
business trust, joint stock company, unincorporated association, joint venture,
investment fund, other entity of whatever nature or Governmental Authority.

         "REGULATIONS" shall have the meaning assigned to such term in Section
5.9.

         "RELEVANT STOCK EXCHANGE" shall mean any stock exchange in the United
States or in any other jurisdiction, whose listing requirements are no more
burdensome or restrictive than those of any stock exchange located in the United
States, on which the Common Stock or any other Capital Stock of the Company may
be listed from time to time.

         "RULES" shall have the meaning assigned to such term in Section
7.13(a).

         "SECURITIES ACT" shall mean the Securities Act of 1933 of the United
States, as amended, or any similar federal statute and the rules and regulations
of the Securities and Exchange Commission of the United States promulgated
thereunder, as amended from time to time.

         "SII" shall have the meaning assigned to such term in the Recitals.

                                      (8)

         "SOLIMAR" shall have the meaning assigned to such term in the Preamble;
provided that upon a Transfer of all or a portion of the Solimar Stock directly
or indirectly to LAIF or a Permitted Transferee, the term Solimar shall mean
Solimar and/or LAIF and/or such Permitted Transferee, as the case may be.

         "SOLIMAR CHANGE OF CONTROL" shall mean the occurrence of any
transaction or series of related transactions as a result of which an entity
other than a Permitted Transferee controls directly or indirectly the Solimar
Stock.

         "SOLIMAR DIRECTORS" shall have the meaning assigned to such term in
Section 2.1.

         "SOLIMAR STOCK" shall mean (a) a total of Nine Hundred Ninety-Six
Thousand and Nine (996,009) shares of Common Stock owned by Solimar as of the
date hereof, and (b) if any, the Common Stock and any other Capital Stock of the
Company purchased by Solimar pursuant to the Solimar Warrant Agreement.

         "SOLIMAR WARRANT AGREEMENT" shall mean that certain warrant agreement
dated March 16, 2000, as amended by Amendment No. 1 dated September 21, 2006,
pursuant to which Solimar owns warrants to purchase up to 19,920 voting shares
of our common stock at an exercise price of $50.20.

         "SUBSEQUENT PUBLIC OFFERING" shall mean any primary public offering by
the Company of the common stock or any other Capital Stock of the Company
pursuant to an effective registration statement under the Securities Act or a
similar statute in any other jurisdiction.

         "SUBSIDIARIES" shall mean (a) any Person at least 50% of whose Capital
Stock having by the terms thereof ordinary voting power to elect a majority of
the directors of such Person (whether or not at the time such Capital Stock of
such Person shall have or might have voting power by reason of the happening of
any contingency) is at the time owned by the Company and/or one or more of the
Subsidiaries, (b) any Person in which the Company and/or one or more of the
Subsidiaries holds at least 50% of the Capital Stock at the time, or (c) any
Person in which the Company and/or one or more of the Subsidiaries possesses,
directly or indirectly, the power to direct or cause the direction of the
affairs or management of such Person.

         "TRANSFER" shall mean the sale, transfer, exchange, gift, mortgage,
alienation, pledge, assignment, hypothecation, encumbering or other disposition,
voluntarily or involuntarily, by operation of law or otherwise (or an agreement
to do any of the foregoing).

         "TRANSFEREE" shall mean a Person that has acquired any shares of Common
Stock or other Capital Stock of the Company from an Existing Shareholder other
than a Permitted Transferee; provided that the term Transferee shall not include
a Person that acquired such Common Stock or other Capital Stock of the Company
pursuant to (a) the IPO, (b) a Subsequent Public Offering by the Company of the
Common Stock or any other Capital Stock of the Company, or (c) a subsequent
brokered sale of the Common Stock or other Capital Stock of the Company listed
on a Relevant Stock Exchange that has not been privately negotiated.

         "ULTRAPETROL SPA" shall have the meaning assigned to such term in the
Recitals.

                                      (9)

         "VESSELS" shall mean all of the ocean-going and river vessels that are
owned, leased, time chartered to, consecutive voyage chartered to, bareboat
chartered to or operated by the Company or any of its Subsidiaries

         SECTION 1.2 RULES OF CONSTRUCTION. In this Agreement, unless the
context otherwise requires:

         (a) any reference in this Agreement to "writing" or cognate expressions
includes a reference to facsimile transmission or comparable means of
communication;

         (b) words importing the singular number shall include the plural and
vice versa, words importing the masculine shall include the feminine and neuter
gender and vice versa;

         (c) references to Sections, Exhibits, Schedules and Recitals are
references to sections, exhibits, schedules and recitals of this Agreement;

         (d) reference to "day" or "days" are to calendar days; and

         (e) this "Agreement" or any other agreement or document shall be
construed as a reference to this Agreement or, as the case may be, such other
agreement or document as the same may have been, or may from time to time be,
amended, varied, novated or supplemented.

         SECTION 1.3 SCHEDULES AND EXHIBITS. The Schedules and Exhibits to this
Agreement are incorporated into and form an integral part of this Agreement. If
an Exhibit is a form of agreement, such agreement, when executed and delivered
by the parties thereto, shall constitute a document independent of this
Agreement.

                                   ARTICLE II

                             THE BOARD OF DIRECTORS

         SECTION 2.1 COMPOSITION. The Company has a board of directors (the
"BOARD OF DIRECTORS") comprising seven (7) members. Each Existing Shareholder
agrees to vote all of its Common Stock and any other voting Capital Stock of the
Company held by it, at any regular or special meeting of the shareholders of the
Company called for the purpose of filling positions on the Board of Directors,
or in any written consent executed in lieu of such a meeting, and shall take all
actions within its control that are necessary to ensure, (i) prior to such time
as the Company is required to have Independent Directors comprise a majority of
its Board, the election to the Board of Directors of two (2) individuals
nominated by Solimar, the "SOLIMAR DIRECTORS", three (3) individuals nominated
by Los Avellanos and/or Hazels, the "LOS AVELLANOS DIRECTORS"; and two (2)
individuals to act as Independent Directors nominated by Solimar and Los
Avellanos and/or Hazels by mutual agreement and (ii) if and when the Company is
required to have Independent Directors comprise a majority of its Board, the
election to the Board of one (1) individual nominated by Solimar, two (2)
individuals nominated by Los Avellanos and/or Hazels and four (4) individuals to
be nominated as Independent Directors nominated by Solimar and Los Avellanos
and/or Hazels by mutual agreement; provided, that in the event either Solimar or
Los Avellanos and/or Hazels owns less than seven and one-half percent (7.5%) but
more than five

                                      (10)

percent (5%) of the Common Stock of the Company it shall only be entitled to
nominate, in the case of Solimar one (1) Director and, in the case of Los
Avellanos and/or Hazels, two (2) Directors and the party whose share holding has
remained above seven and one-half percent (7.5%) will nominate an additional
Director. In the event that Solimar or Los Avellanos and/or Hazels own less than
five percent (5%) of the Common Stock of the Company and the other Existing
Shareholder(s) continue(s) to hold more than five percent (5%) of the Common
Stock of the Company then the Existing Shareholder(s) that continue(s) to hold
more than five percent (5%) of the Common Stock of the Company, shall have the
right to nominate all of the Directors of the Company. In the event either
Solimar or Los Avellanos and/or Hazels owns less than seven and one-half percent
(7.5%) of the Common Stock of the Company, and the other Existing Shareholder(s)
continue(s) to hold more than seven and one half percent (7.5%) of the Common
Stock of the Company, then the Existing Shareholder(s) that continue(s) to hold
more than seven and one half percent (7.5%) of the Common Stock of the Company,
shall have the right to nominate all of the independent directors. In the event
that each of Solimar and Los Avellanos and/or Hazels owns less than seven and
one-half percent (7.5%) of the Common Stock of the Company the Existing
Shareholders shall nominate the individuals to be nominated as Independent
Directors by mutual agreement. The Existing Shareholders hereby agree, in any
election of Directors, to cast their votes for any individual nominated in
accordance with the procedure set forth in this Section 2.1.

         SECTION 2.2 CHAIRMAN. The Board of Directors shall annually elect a
Chairman from among the Directors (the "CHAIRMAN"). The Chairman shall have the
functions and duties as set forth in the Memorandum and Articles of Association.
The Existing Shareholders shall instruct their nominees on the board of
Directors to select Mr. Felipe Menendez Ross as Chairman annually provided that
if Mr. Felipe Menendez Ross' employment with the Company as Chief Executive
Officer terminates for Cause, the Existing Shareholders shall instruct their
nominees on the Board to remove him from the position of Chairman and the
Existing Shareholders shall cause their designated Directors to elect a
different Chairman.

         SECTION 2.3 VACANCY AND REMOVAL. (a) If a vacancy on the Board of
Directors occurs for any reason (including death, resignation or removal), the
Existing Shareholders shall cause their respective Directors to elect a
substitute Director, who shall be nominated by the Existing Shareholder which
nominated the Director who is being replaced, to serve until his or her
successor shall have been duly appointed and shall have qualified.

         (b) No Existing Shareholder shall vote to remove from the Board of
Directors a Director except upon the request or approval of the Existing
Shareholder that has nominated such Director. In such case, each Shareholder
agrees to vote the shares of Common Stock and other voting Capital Stock of the
Company held by it and do all things necessary under the Memorandum and Articles
of Association and Bahamian law to remove such Director and replace such
Director in accordance with the provisions of Section 2.1. The Existing
Shareholders shall only vote to remove an Independent Director from the Board of
Directors by (i) mutual agreement of the Existing Shareholders, (ii) by the
agreement of Los Avellanos and Hazels if Solimar owns less than seven and
one-half percent (7.5%) of the Common Stock of the Company or (iii) by Solimar
if Los Avellanos and/or Hazels own less than seven and one-half percent (7.5%)
of the Common Stock of the Company or (iv) by mutual agreement of Solimar and
Los Avellanos and/or Hazels if each own less than seven and one-half percent
(7.5%) of the

                                      (11)

Common Stock of the Company. In the event the Existing Shareholders mutually
agree to remove an Independent Director, then each Existing Shareholder shall
vote the shares of Common Stock and other voting Capital Stock of the Company
held by it and to do all things necessary to remove such Independent Director
and replace such Independent Director in accordance with the provisions of
Section 2.1 above.

                                   ARTICLE III
                           CERTAIN SHAREHOLDER MATTERS

         SECTION 3.1 MEETINGS. Meetings of the shareholders shall be held as
provided in the Articles of Association of the Company.

         SECTION 3.2 VOTING. The Existing Shareholders agree that neither will
vote their shares of Common Stock in favor of any resolution unless each shall
agree, so long as each of (i) Solimar, on the one hand, and (ii) Los Avellanos
and Hazels collectively, on the other hand, hold at the time of the making of
any such decision at least seven and one-half percent (7.5%) of the Common
Stock. In the event that Solimar or Los Avellanos and/or Hazels own less than
five percent (5%) of the Company (the "Reduced Shareholder") and the other
Existing Shareholders continue to hold more than five percent (5%) of the Common
Stock of the Company, then all rights, benefits and privileges that the Reduced
Shareholder is entitled to hereunder shall cease and terminate. However, all
rights, privileges and benefits of the other Existing Shareholders shall remain
unchanged.

                  The Reduced Shareholder shall vote at any Shareholder meeting
for any initiatives or proposal as directed by the Remaining Shareholders,
including but not limited to its proposal to remove, name or replace any member
of the Board of Directors.

         SECTION 3.3 OWNERSHIP BY SOLIMAR. Los Avellanos and Hazels hereby
confirm that they have no knowledge of any claim adverse to Solimar (i) in
respect of its succession to the right, title and interest previously held by
Original Solimar in the Capital Stock (including, without limitation, warrants
to acquire Capital Stock) of the Company or (ii) that Solimar is the legal and
beneficial owner of the Capital Stock and warrants referred to in the WHEREAS
clauses of this Agreement. Los Avellanos and Hazels further acknowledge that
they are aware of, and have no reason to dispute, the position taken by the
Company in Section 3.04 of Amendment No. 1 to Warrant Agreement, dated as of
September 21, 2006 with respect to the rights of Solimar to the warrants to
acquire Capital Stock referred to therein.

                                   ARTICLE IV

                                 SHARE TRANSFERS

         SECTION 4.1 TRANSFERS GENERALLY. The Existing Shareholders hereby agree
that they shall neither Transfer nor permit the Transfer of Common Stock
currently held or hereafter

                                      (12)

acquired by any of them other than in accordance with this Agreement and the
Registration Rights Agreement.

         SECTION 4.2   PERMITTED TRANSFERS.

          (a) The Existing Shareholders may transfer the common stock of the
Company (which has and shall continue to have seven (7) votes per share while
held by an Existing Shareholder as provided by the Company's constitutional
documents) without restriction between the Existing Shareholders and to
Permitted Transferees provided that such Permitted Transferee accedes to this
Agreement.

          (b) Each certificate representing Common Stock held by an Existing
Shareholder on the date hereof or subsequently transferred to a Permitted
Transferee hereunder shall be issued in physical rather than book-entry form and
shall bear the following legend:

          "The shares represented by this certificate and the transfer thereof
          are regulated by a Second Amended and Restated Shareholders Agreement
          dated as of September 21, 2006 by and among Inversiones Los Avellanos
          S.A., Hazels (Bahamas) Investments Inc. and Solimar Holdings Ltd."

          (c) An Existing Shareholder may transfer shares to a third party,
provided such shares in the hands of such third party shall be entitled to only
one (1) vote per share.

         SECTION 4.3 CHANGE OF CONTROL. Notwithstanding anything contained in
this Agreement to the contrary, if Solimar or Los Avellanos undergoes a Solimar
Change of Control or a Los Avellanos Change of Control, respectively,
immediately upon the consummation of the transaction or transactions resulting
in such Solimar Change of Control, or Los Avellanos Change of Control, as the
case may be, all rights, benefits and privileges to which Solimar or Los
Avellanos or Hazels, as the case may be, is entitled hereunder as an Existing
Shareholder shall cease and terminate. However, all the rights, privileges and
benefits of the other Existing Shareholders shall remain unchanged. The Existing
Shareholder that has been the subject of a Change of Control as aforesaid shall
vote at any Shareholders' meeting on any initiative or proposal as directed by
the Existing Shareholder that has not been the subject of a Change of Control
including, but not limited to, its proposal to remove, name or replace any
members of the Board including the removal of any director originally nominated
by the Shareholder that has suffered the Change of Control.

                                    ARTICLE V

                   CERTAIN ADDITIONAL COVENANTS AND AGREEMENTS

         SECTION 5.1 COMPLIANCE WITH LAWS. Each Shareholder shall comply with
all applicable laws, statutes, regulations, orders and decrees of any
jurisdiction and all applicable restrictions imposed by any Governmental
Authority in respect of the conduct of the business of the Company and each
Subsidiary and the ownership of their respective properties (including
applicable statutes, regulations, orders and restrictions relating to
environmental standards and

                                      (13)

controls and the United States Foreign Corrupt Practices Act and other
anti-bribery and anti-corruption laws).

         SECTION 5.2 FURTHER ASSURANCES. In connection with this Agreement and
the transactions contemplated hereby, each Shareholder agrees to vote all of the
Common Stock and the other voting Capital Stock of the Company held by it so as
to ensure that the provisions of this Agreement are carried out in all respects.
Each Shareholder further agrees to execute and deliver such additional
agreements, documents and instruments and to perform such additional acts as may
be reasonably necessary or appropriate to effectuate and perform all of the
terms, provisions and conditions of this Agreement and all transactions
contemplated hereby.

         SECTION 5.3 NO AVOIDANCE OF OBLIGATIONS. Each Existing Shareholder
hereby covenants with the other Existing Shareholders that it shall not
institute or threaten to institute any litigation or similar proceedings for the
purpose of avoiding or delaying, either directly or indirectly, any provision of
this Agreement or any of the transactions contemplated hereby.

         SECTION 5.4 WAIVER OF RIGHTS. To the extent, and only to the extent,
necessary to effectuate the provisions of this Agreement, each Shareholder
hereby waives any rights which it may have under the Memorandum and Articles of
Association and Bahamian law which may be inconsistent with the terms of this
Agreement.

         SECTION 5.5 INDEMNIFICATION. Each Existing Shareholder shall indemnify,
defend and hold each other Existing Shareholder, including its successors and
assigns and its Affiliates, officers, directors, employees and agents (for
purposes of this Section 5.5, the "INDEMNITEES"), harmless, on an after-tax
basis, from and against any and all damages, losses, liabilities, obligations,
claims of any kind, interest and expenses (including, without limitation,
reasonable attorneys' fees) suffered or paid, directly or indirectly, by any
Indemnitee as a result of, in connection with, or arising out of (a) the failure
of any representation or warranty made by such Shareholder in this Agreement to
be true and correct in all material respects as of the date of this Agreement
(and, in the case of a Transferee as of the date of such Transferee's Accession
Agreement), and (b) any breach by such Existing Shareholder of any of its
covenants or agreements contained in this Agreement. Notwithstanding the
foregoing, in no event will any Existing Shareholder be liable hereunder for
indirect, incidental, consequential, reliance or punitive damages including
damages for lost profits.

         SECTION 5.6 TERMINATION. (a) This Agreement shall terminate in the
following circumstances: (i) with respect to any Existing Shareholder (but
without prejudice to any rights or obligations which accrued or existed at the
time of termination) when such Existing Shareholder Transfers all of the Common
Stock and other Capital Stock of the Company held by it in compliance with the
provisions of this Agreement; and (ii) with respect to all of the Parties, upon
(A) the written agreement of each of the Parties or (B) the dissolution of the
Company or (C) at such time as each of Solimar and Los Avellanos and/or Hazels
holds less than five percent (5%) of the Common Stock of the Company.

         (b) Notwithstanding any other provision in this Agreement to the
contrary, Section 5.5 (Indemnification) shall survive the termination of this
Agreement.

                                      (14)

         (c) Except as otherwise provided in this Agreement or as may be agreed
by the Parties, the termination of this Agreement shall not release any Party
from any liability to any other Party which at the time of such termination has
already accrued, nor affect in any way the survival of any right, duty or
obligation of any Party which is expressly stated to survive the termination
hereof.

        SECTION 5.7 NO BUSINESS IN CUBA. The Existing Shareholders shall use
their best efforts to assure that neither the Company nor any of its
Subsidiaries shall undertake any action that would cause any Existing
Shareholder or any of its Affiliates in the United States to be in violation of
the United States foreign assets control regulations, including, without
limitation, the Cuban Assets Control Regulations of the United States of
America, as amended from time to time, and all regulations promulgated
thereunder (collectively, the "REGULATIONS").

                                   ARTICLE VI

                         REPRESENTATIONS AND WARRANTIES

         SECTION 6.1 REPRESENTATIONS AND WARRANTIES OF THE EXISTING
SHAREHOLDERS. Each Existing Shareholder hereby represents and warrants to each
other Existing Shareholder as follows:

         (a) such Existing Shareholder is a legal entity, duly incorporated or
organized or registered, as the case may be, and validly existing under the laws
of its jurisdiction of incorporation, organization or registration;

         (b) such Existing Shareholder has all requisite corporate power and
authority to execute, deliver and perform this Agreement, and this Agreement has
been duly authorized and approved by all required action of such Existing
Shareholder;

         (c) such Existing Shareholder has obtained all consents, approvals,
permits or licenses from applicable Governmental Authorities that are necessary
for its execution, delivery and performance of this Agreement pursuant to any
laws or regulations applicable to such Existing Shareholder;

         (d) such Existing Shareholder has duly executed and delivered this
Agreement and this Agreement constitutes a valid and binding obligation of such
Existing Shareholder, enforceable against such Existing Shareholder in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization or other similar laws affecting
creditors' rights generally and by general equitable principles (regardless of
whether the issue of enforceability is considered in a proceeding in equity or
at law);

         (e) such Existing Shareholder's execution, delivery and performance of
this Agreement and the consummation by it of the transactions contemplated
hereby will not (i) violate, conflict with or result in a breach of or default
under any provision of any organizational document governing or relating to such
Existing Shareholder, (ii) violate or conflict with any statute, regulation,
judgment, order, writ, decree, injunction or other restriction applicable to
such Existing Shareholder or by which any of its properties may be bound, (iii)
violate or conflict with

                                      (15)

or result in a breach of any provision of, or constitute a default (or any event
which, with notice or lapse of time or both, would constitute a default) under,
or result in the termination or in a right of termination or cancellation of, or
accelerate the performance required by, or result in the creation of any Lien
upon any of such Existing Shareholder's properties under, or result in it being
declared void, voidable or without further binding effect, any of the terms,
conditions or provisions of any note, bond, mortgage, indenture, deed of trust
or any license, franchise, permit, lease, contract, agreement or other
instrument, commitment or obligation to which such Existing Shareholder is a
party, or by which it or any of its properties is bound or affected, or (iv)
require any consent, approval or authorization of, or declaration, filing or
registration with, any Governmental Authority;

         (f) such Existing Shareholder is not subject to any judgment, order or
decree entered in any lawsuit or proceeding and no action, suit, proceeding at
law or in equity, arbitration or administrative or other proceeding by or before
or, to the knowledge of such Existing Shareholder, any investigation by any
Governmental Authority, pending, or, to the knowledge of such Existing
Shareholder, threatened, against or affecting such Existing Shareholder or any
of its properties or rights which could reasonably be expected to materially and
adversely affect the ability of such Existing Shareholder to observe or perform
its obligations under this Agreement.

                                   ARTICLE VII

                            MISCELLANEOUS PROVISIONS

         SECTION 7.1 CONFLICT WITH MEMORANDUM AND ARTICLES OF ASSOCIATION. If
the terms of this Agreement and the terms of the Memorandum and Articles of
Association conflict, the Parties shall endeavor, to the extent permitted by
applicable law, to amend the Memorandum and Articles of Association so as to
reflect the terms of this Agreement.

         SECTION 7.2 NOTICES. All notices, consents, requests, instructions and
approvals and other communications provided for in this Agreement shall be in
the English language or accompanied by an English translation thereof and shall
be validly given for all purposes hereunder if in writing and delivered
personally, sent by documented overnight delivery service, sent by facsimile or
other electronic transmission service (with receipt confirmed), or sent by
registered or certified mail return-receipt requested and postage prepaid
addressed as set forth below (or at such other address as a Party may designate
by written notice to the other Parties), and any such communication shall be
deemed to be given or made as of the date so delivered or, in the case of any
communication delivered by overnight delivery service or registered or certified
mail, as of the date so received:

        if to Los Avellanos or Hazels, to:

                 Inversiones Los Avellanos S.A.
                 El Bosque Norte 0440
                 11th Floor
                 Santiago, Chile
                 Attention:  Ignacio Larrain
                 Facsimile:  (562) 203-5041

                                      (16)

                 with a copy to:
                 Seward & Kissel LLP
                 One Battery Park Plaza
                 New York, New York 10004
                 Attention:  Lawrence Rutkowski
                 Facsimile:  (212) 480-8421

        if to Solimar, to:

                 Solimar Holdings LTD
                 29 Richmond Road
                 Pembroke HM08
                 Bermuda
                 Attention:  Company Secretary
                 Facsimile: (441) 292-2276

        with copies to:

                 EMP Global LLC
                 2020 K Street, NW, Suite 400
                 Washington, D.C.  20006
                 Attention:  James F. Martin/Michael P. Kelley
                 Facsimile:  (202) 293-7163

                 Covington & Burling LLP
                 1330 Avenue of the Americas
                 New York, NY 10019
                 Attention: Bruce C. Bennett
                 Facsimile: (212) 841-1010

        if to any Transferee, to:

                 the address set forth in such Transferee's Accession Agreement.

         SECTION 7.3 SUCCESSORS AND ASSIGNS. This Agreement shall be binding
upon the Parties and upon their respective successors, executors,
administrators, legal representatives, heirs and permitted assigns and shall
inure to the benefit of the Parties and, except as otherwise provided herein,
their respective successors, executors, administrators, legal representatives,
heirs and permitted assigns and transferees. The rights and obligations of a
Shareholder under this Agreement may not be assigned or otherwise conveyed by
any Shareholder except in connection with a Transfer of the Common Stock or any
other Capital Stock of the Company held by it which is in compliance with the
terms of this Agreement.

         SECTION 7.4 NO THIRD PARTY BENEFICIARIES. Nothing expressed by or
mentioned in this Agreement is intended or shall be construed to give any
Person, other than the Parties and their respective successors and permitted
assigns and transferees, any legal or equitable right, remedy or claim under or
in respect of this Agreement or any provision herein contained, this Agreement

                                      (17)

and all conditions and provisions hereof being intended to be and being for the
sole and exclusive benefit of the Parties and their respective successors and
permitted assigns and transferees, and for the benefit of no other Person.

         SECTION 7.5 ENTIRE AGREEMENT. Other than as contemplated by the
Registration Rights Agreement dated the date hereof among the parties hereto,
the Solimar Warrant Agreement, and the IRR Agreement dated as of March 16, 2000
by and among, inter alia, the parties hereto, this Agreement contains the entire
agreement between the Parties with respect to the subject matter hereof. This
Agreement supersedes all prior agreements and understandings, written or oral,
among the Parties with respect to such subject matter.

         SECTION 7.6 AMENDMENTS. Any provision of this Agreement may be amended
or modified only if such amendment or modification is in writing and is signed
by each of the Existing Shareholders and any Permitted Transferee that has
become a party hereto.

         SECTION 7.7 WAIVERS. Any waiver, express or implied, by any Shareholder
or the Company of any right under this Agreement or of any breach by another
Shareholder or the Company shall not constitute or be deemed as a waiver of any
other right or any other breach, whether of a similar or dissimilar nature to
the right or breach being waived.

         SECTION 7.8 LANGUAGE. This Agreement has been negotiated in English,
which the Parties agree shall be the official language for the construction and
interpretation of this Agreement and any communications delivered in connection
herewith.

         SECTION 7.9 SEVERABILITY. If any term, provision, agreement, covenant
or restriction of this Agreement is held by a court of competent jurisdiction or
other authority to be invalid, void or unenforceable, the remainder of the
terms, provisions, agreements, covenants and restrictions of this Agreement
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated so long as the economic or legal substance of the transactions
contemplated hereby is not effected in any manner materially adverse to any
Party. Upon such a determination, the Parties shall negotiate in good faith to
modify this Agreement so as to effect the original intent of the Parties as
closely as possible in an acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the fullest
extent possible.

         SECTION 7.10 HEADINGS. The Article and Section headings in this
Agreement are included for convenience of reference only and shall be
disregarded in the interpretation of this Agreement.

         SECTION 7.11 COUNTERPARTS. This Agreement may be signed in any number
of counterparts, each of which shall be an original, but all of which together
shall constitute one and the same document.

         SECTION 7.12 GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

         SECTION 7.13 DISPUTES; ARBITRATION; JURISDICTION. (a) Any dispute,
controversy or claim arising out of or relating to this Agreement or any breach
hereof (each a "DISPUTE") shall be referred to, and finally settled by,
arbitration under and in accordance with the Rules of

                                      (18)

Arbitration (the "RULES") of the International Chamber of Commerce (the "ICC"),
as amended and in effect on the date that demand for arbitration is filed as set
forth in Section 7.13(b). Each Party consents to such arbitration as the sole
and exclusive method of resolving any such Dispute.

         (b) To initiate arbitration, a Party shall submit the appropriate
request for arbitration to the Secretariat of the International Court of
Arbitration at the principal office of the ICC in Paris, France. The arbitration
proceeding will take place in New York, New York, unless another location is
agreed upon by the Parties, and will be conducted in the English language. The
arbitration panel will consist of three (3) arbitrators, all of whom (including
the chairperson) shall be appointed by the International Court of Arbitration
pursuant to the Rules. The expenses of the arbitration shall be borne as
determined by arbitral tribunal. The arbitral tribunal shall neither have nor
exercise any power to award punitive or exemplary damages. The award of the
arbitral tribunal shall be final and binding on the Parties who hereby agree to
undertake it without recourse to any judicial proceedings in any jurisdiction
whatsoever seeking annulment, setting aside, modification or any diminution or
impairment of its terms or effect. Judgment upon any arbitral award rendered may
be entered and a confirmation order sought in any court having jurisdiction
thereof.

         (c) Each Party hereby acknowledges that it would not have an adequate
remedy at law for money damages in the event that this Agreement or any other
Transaction Agreement were not performed in accordance with its terms and
therefore agrees that the Parties shall be entitled to specific enforcement.

         (d) The Parties hereby acknowledge and agree that they may apply to any
court having jurisdiction for interim relief, including, without, limitation,
temporary restraining orders or preliminary injunctions, in addition to any
remedy to which the Parties may be entitled in any arbitration proceeding or in
equity.

         (e) For purposes of any proceeding to enforce or confirm an award of
the arbitral tribunal pursuant to pursuant to Sections 7.13(b) and (c) and any
action brought pursuant to Section 7.13(d), each Party hereby submits to the
non-exclusive jurisdiction of the United States District Court for the Southern
District of New York and of any New York State Court sitting in the City of New
York. Each Party hereby irrevocably waives, to the fullest extent permitted by
law, any objection which it may have or hereafter have to the laying of the
venue of any such proceeding brought in such a court and any claim that any such
proceeding brought in such a court has been brought in an inconvenient forum.
Each of Los Avellanos, Hazels and Solimar hereby irrevocably designates,
appoints and empowers CT Corporation Services, with offices on the date of this
Agreement at 111 Eighth Avenue, New York, New York 10011, as its designee,
appointee and agent to receive, accept and acknowledge for and on its behalf,
and in respect of its property, service of any and all legal process, summons,
notices and documents which may be served in any such action or proceeding. Each
Party hereby consents to process being served in any such proceeding by the
mailing of a copy thereof by registered or certified mail, postage prepaid, to
the address specified above, its address specified in Section 7.2 or in any
other manner permitted by law. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY, AND
INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
SUCH ACTION OR PROCEEDING.

                                      (19)

         SECTION 7.14 WAIVER OF SOVEREIGN IMMUNITY. Each Party represents and
warrants that this Agreement and the transactions contemplated hereby are
commercial rather than public or governmental acts and that such Party is not
entitled to claim immunity from legal proceedings with respect to itself or any
of its properties or assets on the grounds of sovereignty or otherwise under any
law or in any jurisdiction where an action may be brought for the enforcement of
any of the obligations arising under or relating to this Agreement or any other
documents entered into in connection herewith. To the extent that a Party or any
of its properties or assets has or hereafter may acquire any right to immunity
from set-off, legal proceedings, attachment prior to judgment, other attachment
or execution of judgment on the grounds of sovereignty or otherwise, such Party
hereby irrevocably waives such rights to immunity in respect of its obligations
arising under or relating to this Agreement or any other documents entered into
in connection herewith.

         SECTION 7.15 EFFECTIVENESS. This Agreement shall become effective
immediately upon the closing of the IPO, provided that the IPO occurs no later
than October 31, 2006. Once this Agreement is effective pursuant to this Section
7.15, then the Amended and Restated Shareholders' Agreement shall cease to be in
full force and effect, and all matters concerning the management of the Company
and the Subsidiaries and the ownership and transfer of the Common Stock and any
other Capital Stock of the Company owned by the Existing Shareholders shall be
exclusively governed by the provisions of this Agreement.

                  [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK.]

                                      (20)

         IN WITNESS WHEREOF, the Parties have given effect to this Amended and
Restated Shareholders Agreement as of the day and year first above written.

                                          INVERSIONES LOS AVELLANOS S.A.

                                          By: /s/ Felipe Menendez R.
                                              --------------------------------
                                          Name:  Felipe Menendez R.
                                          Title: Attorney-in-Fact

                                          HAZELS (BAHAMAS) INVESTMENTS INC.

                                          By: /s/ Felipe Menendez R.
                                              ---------------------------------
                                          Name:  Felipe Menendez R.
                                          Title: Attorney-in-Fact

                                          SOLIMAR HOLDINGS LTD.

                                          By: /s/ Katherine A. Downs
                                              ---------------------------------
                                          Name:  Katherine A. Downs
                                          Title: Attorney-in-Fact

                                      (21)exv10w1

 

EXHIBIT 10.1

AGREEMENT FOR PURCHASE OF

REAL ESTATE AND RELATED PROPERTY

     THIS AGREEMENT FOR PURCHASE OF REAL ESTATE AND RELATED PROPERTY (this “Agreement” is made and
entered into as of the 11th day of May, 2006, by and among JOHN B. SANFILIPPO & SON, INC., a
Delaware corporation (“Seller”), and ARTHUR/BUSSE LIMITED PARTNERSHIP, an Illinois limited
partnership (“Arthur/Busse”), and 300 EAST TOUHY LIMITED PARTNERSHIP, an Illinois limited
partnership (“Touhy”) (Arthur/Busse and Touhy are referred to herein together as “Purchaser”).

RECITALS:

     A. Seller is the owner of fee simple title to the Premises (as hereinafter defined), and
Seller is also the owners of all the other Property (as hereinafter defined).

     B. Seller desires to sell the Property to Purchaser, and Purchaser desires to purchase the
Property from Seller, each upon and subject to the terms and conditions of this Agreement.

     NOW, THEREFORE, in consideration of and in reliance upon the above Recitals, which are
incorporated herein, the terms, covenants and conditions contained in this Agreement, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Seller and Purchaser agree as follows:

     1. PURCHASE AND SALE OF PROPERTY. Subject to the terms and conditions of this
Agreement, Seller shall sell, convey and assign to Purchaser and Purchaser shall purchase all
right, title and interest of Seller in the following described property (all of which is
hereinafter collectively referred to as the “Property”):

          (a) that certain tract of real estate containing approximately 49.801 acres located in the
City of Selma, Guadalupe County, State of Texas, which real estate is legally described in the
attached Exhibit A-1, together with all and singular the easements, covenants, agreements,
rights, privileges, tenements, hereditaments and appurtenances thereunto now or hereafter belonging
or appertaining thereto (collectively, the “Land”); and

          (b) all right, title and interest of Seller (whether now or hereafter existing) in and to any
land lying in the bed of any street, alley, road or avenue (whether open, closed or proposed)
within, in front of, behind or otherwise adjoining the Land or any of it, and all right, title and
interest of Seller (whether now or hereafter existing) in and to any award made or to be made as a
result or in lieu of condemnation, and in and to any award for damage to the property or any part
thereof by reason of casualty (all of the foregoing being included within the term “Land”); and

          (c) all of the buildings, structures, fixtures, facilities, installations and other
improvements of every kind and description now or hereafter in, on, over and under the Land,

1

 

including, without limitation, any and all plumbing, air conditioning, heating, ventilating,
mechanical, electrical and other utility systems, parking lots and facilities, landscaping,
roadways, sidewalks, swimming pools and other recreational facilities, security devices, signs and
light fixtures (collectively, the “Improvements”) (the Land and Improvements being collectively
referred to as the “Premises”).

     2. PURCHASE PRICE. The total consideration to be paid by Purchaser to Seller for the
Property (the “Purchase Price”) is Fourteen Million Three Hundred and No/100 Dollars
($14,300,000.00), which shall be paid as follows:

          (a) Earnest Money.

               (i) Within five (5) business days after the execution and delivery of this Agreement by both
Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and
Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First
American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 North LaSalle
Street, Suite 310, Chicago, Illinois 60602, Attention: John E. Beckstedt, Jr., the sum of One
Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a
federal funds wire transfer to an account designated by Escrowee, which together with any
additional earnest money and any interest earned thereon is referred to in this Agreement as the
“Earnest Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Earnest Money in
an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent
securities. Any and all interest earned on the Earnest Money shall be reported to Purchaser’s
federal tax identification number, and the interest earned on such funds shall be paid or credited
to the party entitled to receive the Earnest Money as provided for in this agreement. The Earnest
Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and
Purchaser in the form attached as Exhibit B hereto (the “Earnest Money Escrow Agreement”).
The Earnest Money shall be non-refundable except in the event of failure to close this transaction
by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of
the Earnest Money pursuant to the terms of this Agreement.

               (ii) If the transaction contemplated by this Agreement closes in accordance with the terms and
conditions of this Agreement, at Closing (as hereinafter defined), the Earnest Money shall be
delivered by the Escrowee to Seller as payment toward the Purchase Price.

          (b) Cash at Closing. At Closing, Purchaser shall pay to Seller the Purchase Price
less the Earnest Money plus or minus the adjustments and prorations required by this Agreement;
such sum shall be paid by wire transfer of immediately available funds to an account designated by
Escrowee (such amount, as adjusted, being referred to herein as the “Cash Balance”). All payments
shall be made so as to have been received by Seller (or to be disbursed by Escrowee to Seller) by
4:00 p.m. Chicago (Central) time on the date of the Closing.

     3. OPERATION OF PROPERTY THROUGH CLOSING. Except as otherwise set forth in this
Agreement, from the Effective Date through and including the first to occur of (i) the termination
of this Agreement or (ii) the Closing Date (as hereinafter defined):

2

 

          (a) Except as otherwise provided in this Section 3, Seller shall manage, maintain and
operate the Property in accordance with its previous practice and custom.

          (b) Without the prior written consent of Purchaser, Seller shall not sell, mortgage, pledge,
hypothecate or otherwise transfer or dispose of all or any part of the Property or any interest
therein, nor shall Seller (i) create or consent to the imposition of any lien, lease or tenancy,
encumbrance, easement, reservation, limitation, covenant, condition or restriction upon the
Property (other than in the ordinary course of business) or (ii) initiate, consent to, approve or
otherwise take any action with respect to zoning or any other governmental rules or regulations
presently applicable to all or any part of the Property, other than such action as made for the
purpose of maintaining the Property in compliance with such rules and regulations as are applicable
to all or any part of the

          (c) Except as provided in Section 4 of this Agreement, Seller agrees that, without the
prior written consent of Purchaser, which shall not be unreasonably withheld or delayed, Seller
shall not terminate, modify, extend, amend or renew the Dynapac Lease. Notwithstanding the
foregoing, in the event that Purchaser fails to notify Seller in writing of Purchaser’s approval or
disapproval of any amendment, modification, renewal or extension of the Dynapac Lease, for which
Purchaser’s consent is required under this Section 3(d), within five (5) business days
after Seller requests approval of same, Purchaser shall be deemed to have approved any such
amendment, modification, renewal or extension of the Dynapac Lease.

     4. LEASES.

          (a) Leaseback. At Closing, Seller and Purchaser shall enter into a lease in
substantially the form attached hereto as Exhibit C-1, pursuant to which Seller shall lease
the Property from Purchaser for the period commencing on the Closing Date and continuing for ten
(10) years upon terms and conditions contained in the lease (the “Master Lease”).

          (b) Dynapac Lease. Purchaser acknowledges that a portion of the Land and buildings
located on the Land are currently leased to Dynapac USA Inc. (“Dynapac”) pursuant to that certain
Industrial/Warehouse Lease Agreement effective as of April 15, 1996 by and between Seller, as
lessor, and Dynapac, as lessee, as amended, modified and renewed from time to time (as so amended,
modified and renewed, the “Dynapac Lease”). Seller shall use good faith efforts to cause Dynapac
to enter into an agreement whereby Dynapac (i) consents to the entry by Seller and Purchaser into
the Master Lease and (ii) agrees that the Dynapac Lease shall automatically convert into a sublease
upon Seller’s and Purchaser’s entry into the Master Lease (the “Dynapac Consent”); provided,
however, that Seller shall not be obligated to grant any concessions to or agree to any substantive
changes in the terms of the Dynapac Lease, including, but not limited to the amount of rent, in
order to obtain the Dynapac Consent; provided, however, that at Closing, Purchaser shall enter into
a mutually satisfactory non-disturbance agreement with Dynapac (the “Non-Disturbance Agreement”).
In the event that Seller is unable to obtain the Dynapac Consent prior to the Closing Date, the
parties shall nevertheless proceed with the Closing and enter into the Master Lease, and Purchaser
shall assign to the Seller all the rights and obligations of the Lessor under the Dynapac Lease
pursuant to the contractual subordination agreement in the form attached hereto as Exhibit
E (the “Dynapac Subordination”), and as part of said assignment, Seller shall provide Purchaser
complete and

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absolute indemnification concerning any claim or action of any kind, or nature whether known
or unknown, concerning the Dynapac Lease, provided, however, that such indemnity shall not apply to
the extent such claim or action arises in connection with the negligence or willful misconduct of
Purchaser or if due to Purchaser’s own acts or omissions.

     5. STATUS OF TITLE TO PROPERTY.

          (a) State of Title. At Closing, Seller shall convey to Purchaser the entire fee
simple estate in and to the Premises by recordable special warranty deeds, subject only to: (i)
those covenants, conditions and restrictions and other exceptions to title of record which are
approved or deemed approved hereunder by Purchaser, (ii) the lien of general real estate taxes
which are not yet due or payable, (iii) the Dynapac Lease, if applicable, and the Non-Disturbance
Agreement with respect to the Dynapac Selma Property, (iv) the Master Lease, (v) the SNDAs (as
hereinafter defined), (vi) any matters that would be disclosed by a current survey of the Property
and (vii) any title exceptions arising by reason of acts of the Purchaser (the above-enumerated
exceptions are collectively referred to as the “Permitted Exceptions”).

          (b) Preliminary Evidence of Title. Seller shall furnish Purchaser, at Seller’s sole
cost and expense, with the following documents to evidence the condition of Seller’s title to the
Property:

               (i) Within twenty (20) days after the Effective Date, Seller shall furnish to Purchaser a
commitment (the “Title Commitment”) for a Texas Owner’s Title Insurance Policy proposing to insure
Purchaser and committing to insure the Premises in the amount of the Purchase Price, issued by
Chicago Title Insurance Company (in such capacity, the “Title Insurer”).

               (ii) Within twenty (20) days after the Effective Date, Seller shall furnish to Purchaser
copies of all documents of record referred to in the Title Commitment (other than those deeds of
trust or other security instruments as to which Seller shall be obtaining releases at Closing).

               (iii) Within twenty (20) days after the Effective Date, Seller shall furnish to Purchaser a
current ALTA/ACSM plat of survey of the Property (the “Survey”) including a certification
addressed to Purchaser, the title company and Purchaser’s lender.

          (c) Title Defects. If the Title Commitment, Survey discloses exceptions to title
objectionable to Purchaser, in its reasonable discretion, except for exceptions relating to
Seller’s existing financing which Seller shall cause to be removed at Closing, Purchaser shall so
notify Seller within ten (10) days following Purchaser’s receipt of the latest to be received of
the Title Commitment and the Survey (the “Title Objection Date”), and Seller shall have twenty (20)
days from the date of such notice to have each such unpermitted exception to title removed, or to
have the Title Insurer commit to insure over such unpermitted exception, or to correct each such
other matter. If within such 20-day period, Seller fails to have each such unpermitted exception
removed, insured over or corrected as aforesaid, Purchaser may elect within five (5) business days
after such twenty (20) day period, as its sole and exclusive remedy in such event, to either (i)
terminate this Agreement whereupon this Agreement shall be null and void and of no

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further force or effect (except for any obligations that expressly survive the termination of
this Agreement and/or the Closing), or (ii) elect to accept title to the Property subject to such
objectionable exception (with no reduction in the Purchase Price) whereupon such exception(s) which
had been objected to shall be deemed approved and shall constitute Permitted Exceptions. If
Purchaser fails to make either such election, Purchaser shall be deemed to have elected option
(ii). Any matters disclosed by either the Title Commitment or the Survey and not objected to by
Purchaser on or before the Title Objection Date shall be deemed approved by Purchaser and shall
constitute Permitted Exceptions.

     6. CLOSING.

          (a) Closing Date. The “Closing” of the transaction contemplated by this Agreement
(that is, the payment of the Purchase Price, the transfer of title to the Property, and the
satisfaction of all other terms and conditions of this Agreement), shall occur at 10:00 a.m. local
time at the Chicago loop office of the Escrowee (or at such other location as agreed upon by the
parties) on the date that is fifteen (15) days after the expiration of the Inspection Period (as
hereinafter defined), or such other date as the parties subsequently agree to upon ten (10) days’
written notice from Purchaser. The Closing shall be subject to the satisfaction of the conditions
precedent set forth in Sections 10 and 11 herein, unless waived in writing by the party in
whose favor the condition runs. The “Closing Date” shall be the date of Closing.

          (b) Closing Documents.

               (i) Seller. On the Closing Date, Seller shall deliver or cause to be delivered to
Purchaser the following:

                    (1) special warranty deeds, subject only to the Permitted Exceptions in the form attached
hereto as Exhibit D;

                    (2) Seller’s counterparts to the Dynapac Subordination in the form attached hereto as
Exhibit E (in the event the Dynapac Consent if not obtained);

                    (3) Seller’s counterparts to the Master Lease;

                    (4) any transferable bonds, warranties or guaranties in Seller’s possession which are in any
way applicable to the Property or any part thereof (which may be delivered to Purchaser at the
Property);

                    (5) a certification as to Seller’s non-foreign status which complies with the provisions of
Section 1445(b)(2) of the Internal Revenue Code of 1986, as amended;

                    (6) all keys to any portion of the Premises which are in Seller’s possession (which may be
delivered to Purchaser at the Property);

                    (7) a counterpart to the closing statement (the “Closing Statement”) between Seller and
Purchaser, setting forth the prorations and adjustments to the Purchase Price to be made in
accordance herewith; and

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                    (8) any additional documents that Purchaser, the Escrowee or the Title Insurer may reasonably
require for the proper consummation of the transaction contemplated by this Agreement.

               (ii) Purchaser. Purchaser, or its nominee or assignee, shall deliver or cause to be
delivered to Seller at Closing: (a) the Purchase Price; (b) Purchaser’s counterparts to the Dynapac
Subordination (if the Dynapac Consent is not obtained) or the Non-Disturbance Agreement (if the
Dynapac Consent is obtained); (c) Purchaser’s counterparts to the Master Lease; (d) Purchaser’s
counterparts to the Closing Statement; (e) the SNDAs, as required under Section 11(b); and
(f) any additional documents that Purchaser, the Escrowee or the Title Insurer may reasonably
require for the proper consummation of the transaction contemplated by this Agreement.

          (c) Closing Prorations and Adjustment. Other than rents due under the Master Lease
during the month of the Closing, the parties acknowledge and agree that there shall be no proration
or adjustments to the Purchase Price. Seller expressly acknowledges that it remains liable for all
real estate taxes of any kind or nature assessed against the Property, whether due now or accrued
to date, and that it shall pay such taxes when due pursuant to its obligations under the Master
Lease.

          (d) Closing Costs. Seller shall be responsible for and shall pay the cost of title
insurance premiums for Purchaser’s owners policy including extended coverage, one-half (1/2) of the
cost of the Survey, one-half (1/2) of the cost of the Phase I Report (as hereinafter defined), all
transfer taxes on the on the deed, and one-half (1/2) of the title company closing escrow fees.
Purchaser shall be responsible for and shall pay the cost of all title insurance endorsements
(other than for extended coverage), one-half (1/2) of the cost of the Survey, one-half (1/2) of the
cost of the Phase I Report, the cost of any lender’s title insurance policy, and recording fees.
In addition, all costs of Purchaser’s inspection activities, including engineering, environmental
reports and lease and expense audits, shall be paid by Purchaser, except with respect to the Phase
I Report as noted above. Seller and Purchaser shall each be responsible for the fees and costs of
their respective attorneys. All costs related to the release of any mortgage financing encumbering
the Property shall be paid by Seller.

          (e) Possession. Upon Closing, Seller shall deliver to Purchaser full, complete and
exclusive possession of the Property, subject only to the Master Lease, the Dynapac Lease and the
other Permitted Exceptions.

     7. CASUALTY LOSS AND CONDEMNATION.

     If, prior to Closing, the Property or any part thereof shall be condemned, or destroyed or
materially damaged by fire or other casualty (that is, damage or destruction in excess of
$500,000.00 or which materially impedes access to the Property), Purchaser shall have the option
which shall be exercised not later than ten (10) days following the date Purchaser receives written
notice of the condemnation or damage, either to terminate this Agreement or to consummate the
transaction contemplated by this Agreement notwithstanding such condemnation, destruction or
material damage. If Purchaser elects to consummate the transaction contemplated by this Agreement,
Purchaser shall be entitled to receive all of the

6

 

condemnation proceeds or settle the loss under all policies of insurance applicable to the
destruction or damage and receive all of the proceeds of insurance applicable thereto, and Seller
shall, at Closing and thereafter, execute and deliver to Purchaser all required proofs of loss,
assignments of claims and other similar items. If Purchaser elects to proceed with the
transaction, Purchaser shall receive a credit against the Purchase Price in the amount of any
deductible and, if such loss was uninsured, a credit in an amount equal to the cost of restoration
but not to exceed $500,000.00. If Purchaser elects to terminate this Agreement, this Agreement
shall, without further action of the parties, become null and void and neither party shall have any
rights or obligations under this Agreement, except for any obligations that expressly survive the
termination of this Agreement and/or the Closing. If there is any other damage or destruction
(that is, damage or destruction of $500,000.00 or less, or which does not impede access to the
Property), Seller shall either completely repair such damage prior to Closing in a manner
reasonably satisfactory to Purchaser or, at Seller’s option, either assign all insurance claims
pertaining to such damage or destruction to Purchaser by executing and delivering to Purchaser at
Closing and thereafter all required proofs of loss, assignments of claims and other similar items,
or allow Purchaser a credit against the Purchase Price in an amount equal to Purchaser’s and
Seller’s mutual reasonably estimated cost of repair. If Seller elects to provide an assignment of
all insurance claims as provided for in this Section 7, Purchaser shall receive at Closing
a credit against the Purchase Price in an amount equal to any deductible(s) applicable thereto.
Notwithstanding anything herein to the contrary, Seller shall be entitled to receive and retain,
and shall not be required to assign, any insurance proceeds for loss of the rents to have been paid
prior to Closing.

     8. REPRESENTATIONS AND WARRANTIES.

          (a) Seller represents and warrants to Purchaser that the following are true, complete and
correct as of the date of this Agreement:

               (i) Except as set forth on Exhibit F attached hereto, to the actual knowledge of
Seller, Seller has not received from any governmental authority written notice of any violation of
any zoning, building, fire or health code or any other statute, ordinance, law, rule or regulation
applicable to the Property, or any part thereof, that will not have been corrected prior to
Closing.

               (ii) Seller is duly organized, validly existing and qualified and empowered to conduct its
business, and has full power and authority to enter into and fully perform and comply with the
terms of this Agreement. Neither the execution and delivery of this Agreement nor its performance
by Seller will conflict with or result in the breach of any contract, agreement, law, rule or
regulation to which Seller is a party or by which any of the Seller is bound.

               (iii) The individuals executing this Agreement and the instruments referenced herein on behalf
of the Seller has the legal power, right, and actual authority to bind the Seller, to the terms and
conditions hereof and thereof.

               (iv) Seller has not received any actual written notice of any civil, criminal or
administrative suit, claim, hearing, violation, investigation, proceeding or demand

7

 

against Seller or the Property relating in any way compliance with Environmental Laws. For
purposes of this Agreement, the phrase “Environmental Laws” shall mean any federal, state or local
law, statute, ordinance, order, decree, rule or regulation and any common laws regarding health,
safety, radioactive materials, or the environment, including, without limitation, the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601, et
seq. (“CERCLA”); the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq. (“RCRA”);
the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq. (“TSCA”), the Occupational, Safety and
Health Act, 29 U.S.C. § 651, et seq. (“OSHA”), the Clean Air Act, 42 U.S.C. § 7401, et seq.
(“CAA”), the Federal Water Pollution Control Act, 33 U.S.C. § 1251, et seq. (“FWPCA”), the Safe
Drinking Water Act, 42 U.S.C. § 3001, et seq. (“SDWA”), the Hazardous Materials Transportation Act,
49 U.S.C. § 1802, et seq. (“HMTA”) and the Emergency Planning and Community Right to Know Act, 42
U.S.C. § 11001, et seq. (“EPCRA”), the Endangered Species Act of 1973, 16 U.S.C. § 1531 et seq.
(“ESA”), the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. § 136 et seq. (“FIFRA”)
and other comparable federal, state or local laws, each as amended, and all rules, regulations and
guidance documents promulgated pursuant thereto or published thereunder.

               (v) Seller is not a foreign limited partnership, person or other entity within the meaning of
Section 1445(b)(2) of the Internal Revenue Code of 1986, as amended.

               (vi) Seller shall remain fully liable for any Service Contracts affecting the Property which
exist at the time of Closing (these obligations will be assumed by Seller as part of its
obligations as Tenant under the Master Lease).

          (b) Seller represents and warrants to Purchaser that, as of the Closing, each of the
warranties and representations set forth in Section 8(a) above shall be true, complete and
correct in all material respects except for changes in the operation of the Property occurring
prior to Closing which are specifically permitted by this Agreement. As used in this Agreement,
the terms “knowledge” of or “actual knowledge of” or “receipt of written notice by” Seller shall
mean the actual knowledge of or notice received by Mike Valentine, after due inquiry of any on-site
property manager. Seller shall have no duty to conduct any further inquiry in making such
representation and warranties, and no knowledge of or notice to any other person shall be imputed
to Seller

          (c) Purchaser understands that, except as otherwise specifically provided herein, any
financial statements and data, including, without limitation, gross rental income, operating
expenses and cash flow statements, to be made available by Seller to Purchaser, will be unaudited
financial statements and data not prepared or reviewed by independent public accountants (except to
the extent Seller has such audited financial statements or data in its possession or control).

          (d) The foregoing warranties and representations of Seller in this Section 8 shall be
deemed to be remade and restated by Seller at Closing and survive the execution and delivery of
this Agreement and the Closing for a period of six (6) months after Closing. Seller acknowledges
that Purchaser has relied on the representations and warranties made in Section 8(a) as a
material inducement for the consummation of this transaction by Purchaser. Subject to Section
8(f) below, in the event Purchaser discovers a material breach of a representation or

8

 

warranty after Closing, Seller’s maximum liability for damages arising therefrom shall be
limited to Purchaser’s actual out-of-pocket damages (and specifically excluding consequential,
punitive and exemplary damages) not to exceed an amount equal to $250,000.00.

          (e) Purchaser’s Representations and Warranties.

               (i) Purchaser represents to Seller that it is duly organized, validly existing and qualified
and empowered to conduct its business and has full power and authority to enter into and fully
perform and comply with the terms of this Agreement. Neither the execution and delivery of this
Agreement nor its performance by Purchaser will conflict with or result in the breach of any
contract, agreement, law, rule or regulation to which Purchaser is a party or by which it is bound.

               (ii) The individual executing this Agreement and the instruments referenced herein on behalf
of Purchaser has the legal power, right, and actual authority to bind Purchaser to the terms and
conditions hereof and thereof.

               (iii) Purchaser is sophisticated and experienced in the acquisition, ownership and operation
of industrial properties similar to the Property, and has full knowledge of all applicable federal,
state and local laws, rules, regulations and ordinances in connection therewith.

               (iv) No pending or, to the knowledge of Purchaser, threatened litigation exists which if
determined adversely would restrain the consummation of the transactions contemplated by this
Agreement or would declare illegal, invalid or non-binding any of Purchaser’s obligations or
covenants to Seller.

          (f) In the event that, prior to Closing, Purchaser discovers a material breach of a
representation made by Seller contained in this Agreement, Purchaser may, as its sole and exclusive
remedy, either terminate this Agreement (in which case Purchaser shall be relieved of any
obligations hereunder (except for any obligations that expressly survive the termination of this
Agreement and/or the Closing), or waive such breach and proceed to Closing with no reduction in the
Purchase Price.

     9. AS-IS CONDITION.

          Except as expressly set forth in Section 8(a), Purchaser acknowledges that Purchaser
is acquiring the Property in an “AS IS-WHERE IS” condition and “WITH ALL FAULTS” as of the date of
this Agreement and of the Closing. Purchaser acknowledges that no representations or warranties
have been made or are made and no responsibility has been or is assumed by Seller or by any
partner, officer, employee, person, firm, agent or representative acting or purporting to act on
behalf of Seller as to the physical or environmental condition of the Property or the value,
expense of operation, or income potential thereof or as to any other fact or condition which has or
might affect the Property or the condition, repair, value, expense of operation or income potential
of the Property or any portion thereof. Purchaser agrees to take the Property subject to its
existing condition, with full knowledge that if any remedial or preservation work is required in
order to conform the Property to the requirements of applicable laws and regulations, Purchaser
agrees to assume such sole responsibility upon the Closing.

9

 

Further, to the extent that Seller has provided to Purchaser information from any inspection,
engineering or environmental reports concerning the Property, Seller makes no representations or
warranties with respect to the accuracy or completeness, methodology of preparation or otherwise
concerning the contents of such reports. Purchaser agrees and acknowledges that it has relied and
shall rely solely upon the results of Purchaser’s own inspections or other information obtained or
otherwise available to Purchaser, rather than any information that may have been provided by Seller
to Purchaser.

     10. PURCHASER’S CONDITIONS PRECEDENT. At the option of Purchaser, the obligations of
Purchaser under this Agreement are contingent and conditional upon any one or more of the
following, the failure of any of which shall, at the request of Purchaser and as its sole remedy,
render this Agreement null and void (except for any obligations that expressly survive the
termination of this Agreement and/or the Closing):

          (a) During the period commencing on the Effective Date and ending at 5:00 p.m. (E.S.T.) on the
thirtieth (30th) day after the Effective Date (the “Inspection Period”), subject to the terms and
conditions of Section 15(a) below, Purchaser shall have the right to conduct a Phase I Site
Assessment of the Property (the “Phase I Report”). If Purchaser determines in its reasonable
discretion that the Phase I Report indicates a violation of an Environmental Law or other material
issue, Purchaser may terminate this Agreement by notifying Seller in writing prior to the
expiration of the Inspection Period, in which event the Earnest Money shall be returned to
Purchaser, and neither party shall have any rights or obligations under this Agreement (other than
any obligations which that expressly survive the termination of this Agreement). Purchaser’s
failure to terminate this Agreement prior to the expiration of the Inspection Period shall be
deemed a waiver by Purchaser of its right to terminate this Agreement pursuant to this Section
10(a).

          (b) Seller shall have duly performed in all material respects each and every covenant and
agreement to be performed by Purchaser pursuant to this Agreement and Seller’s representations,
warranties and covenants shall be true and correct in all material respects as of the Closing Date.

          (c) The Title Insurer shall be prepared to issue an TLTA Owner’s Title Insurance Policy (or
marked commitment therefor) insuring fee simple title to the Premises in Purchaser in the amount of
the Purchase Price subject only to the Permitted Exceptions.

          (d) Seller shall have delivered to Purchaser, at or before Closing, an estoppel certificate
from Dynapac under the Dynapac Lease in a form reasonably approved by Purchaser’s lender.

     11. SELLER’S CONDITIONS PRECEDENT. At the option of Seller, the obligations of Seller
under this Agreement are contingent and conditional upon any one or more of the following, the
failure of which shall, at the request of Seller, render this Agreement null and void:

          (a) Purchaser shall have duly performed in all material respects each and every covenant and
agreement to be performed by Purchaser pursuant to this Agreement and

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Purchaser’s representations, warranties and covenants shall be true and correct in all
material respects as of the Closing Date.

          (b) With respect to the Master Lease, Purchaser will have delivered to Seller subordination,
nondisturbance and attornment agreements (collectively, the “SNDAs”) from Purchaser’s lender, if
any, in a form mutually acceptable to Seller and Purchaser’s lenders.

     12. CONTINGENCY.

          Seller and Purchaser hereby acknowledge and agree that Seller’s obligation to sell the
Property to Purchaser in accordance with the terms of this Agreement, and Purchaser’s corresponding
obligation to purchase the Property from Seller in accordance with the terms of this Agreement, is
expressly contingent upon the prior closing on the sale by Purchaser of all of the following
properties (collectively, the “Additional Properties”): (i) those certain tracts of real estate
commonly known as 2299 Busse Road, Elk Grove Village, Cook County Illinois and 1717 Arthur Avenue,
Elk Grove Village, Cook County, Illinois, and (iii) that certain tract of real estate commonly
known as 300 East Touhy Road, Des Plaines, Cook County, Illinois.

     13. BROKERAGE.

          Each party represents and warrants to the other party that it has dealt with no broker or
finder in connection with this transaction. Each party indemnifies and holds the other party
harmless from and against any and all other claims of all brokers and finders claiming by, through
or under said party and in any way related to the sale and purchase of the Property pursuant to
this Agreement, including, without limitation, attorneys fees incurred by the other party in
connection with such claims. The obligations of the parties under this Section 13 shall
survive the termination of this Agreement and the Closing.

     14. DEFAULTS AND REMEDIES

          (a) Notwithstanding anything to the contrary contained in this Agreement, if after Seller
defaults under this Agreement, at Purchaser’s option, Purchaser may elect as its sole remedy (i) to
terminate this Agreement, whereupon this Agreement shall, without further action of the parties,
become null and void and neither party shall have any rights or obligations under this Agreement
with no reduction in the Purchase Price, except for any obligations that expressly survive the
termination of this Agreement and/or the Closing, or (ii) Purchaser may sue Seller for specific
performance of the sale of the Property in accordance with the terms of this Agreement.

          (b) Notwithstanding anything to the contrary contained in this Agreement, if Purchaser
defaults under this Agreement, the Earnest Money shall be forfeited to Seller as liquidated
damages, which shall be Seller’s sole and exclusive remedy at law or equity against Purchaser, and
neither party shall have any rights or obligations under this Agreement (other than the Surviving
Obligations). Seller and Purchaser acknowledge and agree that (1) the Earnest Money is a
reasonable estimate of and bears a reasonable relationship to the damages that would be suffered
and costs incurred by Seller as a result of having withdrawn the Property from sale and the failure
of Closing to occur due to a default of Purchaser under this Agreement; (2) the actual damages
suffered and costs incurred by Seller as a result of such withdrawal and failure to close due to a
default of Purchaser under this Agreement would be extremely difficult

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and impractical to determine; (3) Purchaser seeks to limit its liability under this Agreement
to the amount of the Earnest Money in the event this Agreement is terminated and the transaction
contemplated by this Agreement does not close due to a default of Purchaser under this Agreement;
and (4) the Earnest Money shall be and constitute valid liquidated damages and not a penalty.

     15. MISCELLANEOUS

          (a) Entry upon Property; Restoration; Indemnity.

               (i) At any time prior to the Closing, Purchaser and its agents or representatives shall have
the right to enter upon the Property upon forty-eight (48) hours’ prior notice (except as otherwise
set forth herein) and during normal business hours for the purpose of examining, inspecting and
testing the Property; provided that (i) no such entry upon the Property shall interfere with the
operations of Seller’s business on the Property or the rights of tenants, and (ii) Purchaser
furnishes Seller with a certificate of insurance insuring Seller against loss by reasons of matters
set forth in the following sentence. Purchaser hereby agrees to pay, protect, defend, indemnify
and save Seller harmless against all liabilities, obligations, claims (including mechanic’s lien
claims), damages, penalties, causes of action, judgments, costs and expenses (including, without
limitation, reasonable attorneys’ fees and expenses) imposed upon, incurred by or asserted against
Seller involving either bodily injury or property damage in connection with or arising out of the
entry by Purchaser or its agents or representatives upon the Premises, either prior to or after
execution and delivery of this Agreement and caused by Purchaser’s employees, agents or independent
contractors and the actions of such persons on the Premises. In the event any part of the Property
is or has been damaged or excavated by Purchaser, its employees, agents or independent contractors,
Purchaser agrees to return the Property to its condition immediately prior to such damage or
excavation. Any inspection of units shall be made during ordinary business hours upon forty-eight
(48) hours’ prior written notice to Seller, subject to rights under the Leases. Notwithstanding
anything contained in this Agreement to the contrary, Purchaser shall have no right to conduct any
Phase II environmental audit or other intrusive testing on the Property. Purchaser acknowledges
and agrees that except as expressly set forth in Section 10(a) above, Purchaser shall have
no right to terminate this Agreement as a result of any such inspection.

               (ii) Unless Seller specifically and expressly otherwise agrees in writing, Purchaser agrees
that all information regarding the Property of whatsoever nature made available to it by Seller or
Seller’s agents or representatives (the “Proprietary Information”) is confidential and shall not be
disclosed by Purchaser to any other person except to those assisting Purchaser with the
transaction, or to Purchaser’s lender, if any, and then only upon Purchaser making such person
aware of this confidentiality restriction and procuring such person’s agreement to be bound
thereby, or to a court of competent jurisdiction as required by law or court order. In the event
the purchase and sale contemplated hereby fails to close for any reason whatsoever, Purchaser
agrees to return to Seller, or cause to be returned to Seller all Proprietary Information.
Further, Purchaser agrees not to use or allow to be used any Proprietary Information for any
purpose other than to determine whether to proceed with the contemplated purchase, or if same is
consummated, in connection with the operation of the Property post-Closing or as may be required by
law.

12

 

               (iii) Notwithstanding any provision to the contrary herein, including, without limitation, any
provision stating that this Agreement shall become null and void, Purchaser’s obligations under
this Section 15(a) shall survive the expiration or termination of this Agreement, and shall
survive Closing.

          (b) Assignment. Neither party hereto shall assign or transfer its interest in this
Agreement except Purchaser may assign or otherwise transfer its interest under this Agreement in
the furtherance of a like-kind exchange under Section 1031 of the Internal Revenue Code.
Notwithstanding anything to the contrary herein, in no event shall any such assignment hereof
relieve the assignor of its obligations hereunder. Subject to the foregoing, this Agreement shall
inure to the benefit of and shall be binding upon Seller and Purchaser and their respective
successors and assigns. Notwithstanding anything to the contrary herein, Purchaser, upon written
notice provided to Seller at least two (2) business days prior to the Closing, may cause Seller to
convey the Property to one or more land trusts of which Arthur/Busse and Touhy, together or
individually, are the sole beneficiaries.

          (c) Entire Agreement. This Agreement constitutes the entire agreement between Seller
and Purchaser with respect to the Property and shall not be modified or amended except in a written
document signed by Seller and Purchaser. Any prior agreement or understanding between Seller and
Purchaser concerning the Property is hereby rendered null and void.

          (d) Time is of the Essence. Time is of the essence of this Agreement. In the
computation of any period of time provided for in this Agreement or by law, the day of the act or
event from which the period of time runs shall be excluded, and the last day of such period shall
be included, unless it is a Saturday, Sunday, or legal holiday, in which case the period shall be
deemed to run until the end of the next day which is not a Saturday, Sunday or legal holiday.

          (e) Headings. The headings of this Agreement are for convenience of reference only
and do not in any way limit or amplify the terms and provisions hereof.

          (f) Construction. The parties acknowledge that each party and its counsel have
reviewed and revised this Agreement, and that the normal rule of construction to the effect that
any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Agreement or any amendments or exhibits hereto.

          (g) Legal Fees. In the event of a default by either party of its obligations under
this Agreement, the prevailing party in any action or proceeding in any court in connection
therewith (including any action for specific performance) shall be entitled to recover from such
other party its costs and expenses, including reasonable legal fees and associated court costs.

          (h) Notices. All notices, requests, demands or other communications required or
permitted under this Agreement shall be in writing and shall be deemed effective when (i) delivered
personally or (ii) sent by certified mail, return receipt requested, postage prepaid, addressed to
the intended recipient at the address specified in this subparagraph, (iii) sent by facsimile
transmission, provided that receipt for such facsimile is verified by the sender and followed by
notice sent in accordance with one of the other means set forth herein, or (iv)

13

 

deposited into the custody of a recognized overnight courier or delivery service (such as
Federal Express), addressed as follows:

	 	 	 	 	 
	 

	 	If to Seller:
	 	John B. Sanfilippo & Son, Inc.
	 

	 	 	 	2299 Busse Road
	 

	 	 	 	Elk Grove Village, Illinois 60007
	 

	 	 	 	Attention: Mathias Valentine
	 

	 	 	 	Fax: 847/593-9608
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Jenner & Block LLP
	 

	 	 	 	One IBM Plaza
	 

	 	 	 	330 North Wabash Avenue
	 

	 	 	 	Chicago, Illinois 60611
	 

	 	 	 	Attention: Donald I. Resnick
	 

	 	 	 	Fax: 312/840-7656
	 
	 	 	 	 
	 

	 	If to Purchaser:
	 	Arthur/Busse Limited Partnership
	 

	 	 	 	300 East Touhy Limited Partnership
	 

	 	 	 	2299 Busse Road
	 

	 	 	 	Elk Grove Village, Illinois 60007
	 

	 	 	 	Attention: Jeff Sanfilippo
	 

	 	 	 	Fax: 847/593-9608
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Stahl, Cowen, Crowley, LLC
	 

	 	 	 	55 W. Monroe St
	 

	 	 	 	Suite 500
	 

	 	 	 	Chicago, Illinois 60603
	 

	 	 	 	Attn: Lauane C. Addis
	 

	 	 	 	Fax: 312/641-6959

               (i) Governing Law. This Agreement shall be governed and interpreted in accordance
with the internal laws of the State of Illinois.

               (j) Counterparts. This Agreement may be executed in any number of identical
counterparts, any or all of which may contain the signatures of fewer than all of the parties but
all of which shall be taken together as a single instrument.

               (k) Tax-Deferred Exchange. Seller agrees to cooperate with Purchaser to effectuate a
tax deferred like kind exchange (an “Exchange”) with respect to the acquisition of the Property as
part of a so-called tax deferred exchange (“Purchaser’s Exchange”) pursuant to Section 1031 of the
Internal Revenue Code of 1986, as amended, provided that (i) except as hereinafter set forth, all
costs, fees and expenses attended to such Purchaser’s Exchange shall be the sole responsibility of
Purchaser, except for Seller’s attorneys’ fees, (ii) the closing shall not be delayed or affected
by reason of such Purchaser’s Exchange nor shall the consummation or accomplishment of the
Purchaser’s Exchange be a condition precedent or condition subsequent to Purchaser’s obligation
under this Agreement, in the event of any such Purchaser’s Exchange and notwithstanding that in
connection with such Purchaser’s Exchange, Purchaser’s rights to

14

 

acquire the property may be conveyed by Purchaser to an accommodation entity, all
representations, warranties, covenants and agreements of Purchaser pursuant to this Agreement shall
be deemed to be made by Purchaser, shall survive any conveyance to an accommodation party, shall
continue in favor of and in order of the benefit of Seller and shall be enforceable by Seller
against Purchaser, as though the Property had been conveyed directly by Seller to Purchaser, all in
accordance with the terms of this Agreement, and (v) the Purchaser’s Exchange shall in no way
reduce, abridge or modify any of Purchaser’s obligations or duties, or any of Seller’s right or
remedies hereunder. Seller will have no liability to Purchaser in the event the Purchaser’s
Exchange is not consummated or in the event Purchaser does not achieve the desired tax treatment.

               (l) No Obligations to Third Parties. Except as otherwise expressly provided herein,
the execution and delivery of this Agreement shall not be deemed to confer any rights upon, nor
obligate any of the parties hereto, to any person or entity other than the parties hereto.

               (m) Waiver. The waiver or failure to enforce any provision of this Agreement shall
not operate as a waiver of any future breach of any such provision or any other provision hereof.

               (n) Exhibits. The following exhibits are acknowledged to be attached to and form a part of
this Agreement:

	 	 	 	 	 
	 

	 	Exhibit A
	 	Legal Description of the Land
	 

	 	Exhibit B
	 	Form of Escrow Agreement
	 

	 	Exhibit C
	 	Form of Master Lease
	 

	 	Exhibit D
	 	Form of Special Warranty Deed
	 

	 	Exhibit E
	 	Form of Dynapac Subordination
	 

	 	Exhibit F
	 	Code Violation Notices

     16. REPRESENTATIONS. WARRANTIES AND COVENANTS WITH RESPECT TO THE USA PATRIOT ACT.
All capitalized words and phrases and all defined terms used in the USA Patriot Act of 2001, 107
Public Law 56 (October 26, 2001) (as amended, the “Patriot Act”) and in other statutes and all
orders, rules and regulations of the United States government and its various executive
departments, agencies and offices related to the subject matter of the Patriot Act, including, but
not limited to, Executive Order 13224 effective September 24, 2001, are hereinafter collectively
referred to as the “Patriot Rules” and are incorporated into this paragraph.

               (a) Purchaser hereby represents and warrants to Seller and Seller hereby represents and
warrants to Purchaser that each and every “person” or “entity” affiliated with the respective party
or that has an economic interest in the respective party or that has or will have an interest in
the transaction contemplated by this Agreement or in any property that is the subject matter of
this Agreement or will participate, in any manner whatsoever, in the purchase of the Property, is:

                         (i) not a “blocked” person listed in the Annex to Executive Order Nos. 12947, 13099 and 13224;

15

 

               (ii) in full compliance with the requirements of the Patriot Rules and all other requirements
contained in the rules and regulations of the Office of Foreign Assets Control, Department of the
Treasury (“OFAC”);

               (iii) operated under policies, procedures and practices, if any, that are in compliance with
the Patriot Rules and available to Seller for Seller’s review and inspection during normal business
hours and upon reasonable prior notice;

               (iv) not in receipt of any notice from the Secretary of State or the Attorney General of the
United States or any other department, agency or office of the United States claiming a violation
or possible violation of the Patriot Rules;

               (v) not listed as a Specially Designated Terrorist or as a blocked person on any lists
maintained by the OFAC pursuant to the Patriot Rules or any other list of terrorists or terrorist
organizations maintained pursuant to any of the rules and regulations of the OFAC issued pursuant
to the Patriot Rules or on any other list of terrorists or terrorist organizations maintained
pursuant to the Patriot Rules;

               (vi) not a person who has been determined by competent authority to be subject to any of the
prohibitions contained in the Patriot Rules; and

                    (1) not owned or controlled by or now acting and or will in the future act for or on behalf of
any person or entity named in the Annex or any other list promulgated under the Patriot Rules or
any other person who has been determined to be subject to the prohibitions contained in the Patriot
Rules.

               (vii) Each party covenants and agrees that in the event it receives any notice that it or any
of its beneficial owners or affiliates or participants become listed on the Annex or any other list
promulgated under the Patriot Rules or indicted, arraigned, or custodially detained on charges
involving money laundering or predicate crimes to money laundering, the party receiving the notice
shall immediately notify the other and, in such event, this Agreement shall automatically be deemed
terminated, in which event all Earnest Money shall be returned to Purchaser and the parties shall
have no further rights or obligations under this Agreement, except for all other rights,
liabilities or obligations that survive a termination of this Agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

16

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day, month and year
first written above.

	 	 	 	 	 
	SELLER:	 	JOHN B. SANFILIPPO & SON, INC., a Delaware corporation
	 
	 	 	 	 
	 

	 	By:
	 	/S/ William R. Pokrajac
	 

	 	Name:
	 	William R. Pokrajac
	 

	 	Its:
	 	V. P. of Finance
	 
	 	 	 	 
	PURCHASER:	 	ARTHUR/BUSSE LIMITED PARTNERSHIP, an Illinois limited partnership
	 
	 	 	 	 
	 

	 	By:
	 	/S/ Mathias A. Valentine
	 

	 	Name:
	 	Mathias Valentine

	 

	 	Its:
	 	Vice President, Arthur/Busse Properties,
	 	 	Inc., an Illinois Corporation, as General Partner
	 
	 	 	 	 
	 	 	300 EAST TOUHY LIMITED PARTNERSHIP, an Illinois limited partnership
	 
	 	 	 	 
	 

	 	By:
	 	/S/ Mathias A. Valentine
	 

	 	Name:
	 	Mathias Valentine
	 	 	Its:	 	Vice President, Touhy Properties, Inc., an
Illinois Corporation, as General Partner

 

EXHIBIT A

Legal Description of Land

ALL OF THAT CERTAIN PARCEL OR TRACT OF LAND OUT OF THE TOREBIA HERRERA SURVEY NO. 68, CITY OF
SELMA, GUADALUPE COUNTY, TEXAS; BEING ALL OF LOT 1, BLOCK 1, MARK INDUSTRIES, A SUBDIVISION AS
RECORDED IN VOLUME 4, PAGE 237 OF THE PLAT RECORDS OF GUADALUPE COUNTY, TEXAS AND A PORTION OF A
102.00-ACRE TRACT AS CONVEYED TO MARK INDUSTRIES BY DEEDS RECORDED IN VOLUME 627, PAGE 44 OF THE
DEED RECORDS OF GUADALUPE COUNTY, TEXAS AND VOLUME 318, PAGE 152 OF THE DEED RECORDED OF COMAL
COUNTY, TEXAS; AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:

BEGINNING at a 1/2” iron rod found on the northwest right-of-way line of Interstate Highway 35 at
the most southerly east corner of the above described Lot 1, said iron rod found also being the
most southerly corner of a 3.00-acre tract as conveyed to Ditch Witch Company of Central Texas,
Inc. by deed recorded in Volume 569, Page 288 of the Deed Records of Guadalupe County, Texas, for
the most southerly east corner and POINT OF BEGINNING of the herein described tract;

THENCE, with the northwest right-of-way line of Interstate Highway 35, the following two (2)
courses:

     1) S 60°19’41” W a distance of 263.22 feet to a concrete right-of-way monument found at an
angle point; and

     2) S 56°54’24” W a distance of 21.51 feet to a 1/2” iron rod set with cap stamped TERRA FIRMA
at the most easterly corner of a 5.789-acre tract for the most southerly corner of this tract;

THENCE, with the northeast line of said 5.789-acre tract, N 29°25’33” W a distance of 671.55 feet
to a 1/2” iron rod set with cap stamped TERRA FIRMA for an inside corner of this tract;

THENCE with the northwest line of said 5.789-acre tract along a chain link fence, S 60°13’17” W a
distance of 370.00 feet to a 1/2” iron rod set with cap stamped TERRA FIRMA at a fence corner post
on the northeast line of Lot 3, Block 1, Olympia Business Park, Unit-1, a subdivision as recorded
in Volume 4, Page 234 of the Plat Records of Guadalupe County, Texas for an outside corner of this
tract;

THENCE, with the northeast line of said Olympia Business Park, Unit-1, a 1.9513-acre tract as
conveyed to Snap-On Tools Corporation by deed recorded in Volume 713, Page 667 of the Official
Records of Guadalupe County, Texas and the remaining portion of a 88.238-acre tract as conveyed to
H.B. Zachry Properties, Inc. by deed recorded in Volume 482, Page 806 of the Deed Records of
Guadalupe County, Texas along a chain link fence, N 29°31’21” W a distance of 1144.91 feet to a
1/2” iron rod found at the most easterly corner of Lot 5, Block 1 of Olympia

Exhibit A

 

Business Park Unit-5, a subdivision as recorded in Volume 5, Page 123-A of the Plat Records of
Guadalupe County, Texas for the most westerly corner of this tract;

THENCE, with a chain link fence, N 60°10’08” E, pass a point at the most westerly corner of said
Lot 1, Block 1, Mark Industries at 508.88 feet, and continuing on with the northwest line of said
Lot 1, Block 1, Mark Industries for a total distance of 1371.62 feet to a 1/2” iron rod at the most
southerly corner of a 6.225-acre tract as conveyed to Johanna A. and Alfred A. Wiley by deed
recorded in Volume 204, Page 846 of the Deed Records of Comal County, Texas;

THENCE, with the northwest line of said Lot 1, Block 1, Mark Industries, the following two (2)
courses:

     1) N 60°22’01” E a distance of 175.16 feet to a 1/2” iron rod set at an angle point; and

     2) N 60°13’17” E a distance of 179.36 feet to a 1/2” iron rod found for the most northerly
corner of this tract;

     THENCE, with a northeast line of said Lot 1, Block 1, Mark Industries, the following three (3)
courses:

     1) S 29°49’35” E a distance of 562.30 feet to a 1/2” iron rod set at an angle point;

     2) S 30°04’01” E a distance of 466.93 feet to 1/2” iron rod found at an angle point; and

     3) S 28°52’38” E a distance of 123.35 feet to a 1/2” iron rod found at the most northerly
corner of a 2.7769-acre tract as conveyed to Jeanne E. and Paul H. King by deed recorded in Volume
903, Page 969 of the Deed Records of Guadalupe County, Texas, for the most easterly corner of this
tract;

THENCE, with the northwest line of said King 2.7769-acre tract and the northwest line of a
2.716-acre tract as conveyed to Paul King by deed recorded in Volume 531, Page 510 of the Deed
Records of Guadalupe County, Texas along a chain link fence, S 60°05’20” W a distance of 359.77
feet to a 1/2” iron rod found at the most westerly corner of said King 2.716-acre tract, said iron
rod found also being the most northerly corner of a 4.954-acre tract as conveyed to Beryl E.
Cudworth by deed recorded in Volume 418, Page 240 of the Deed Records of Guadalupe County, Texas;

THENCE, with the northwest line of said Cudworth 4.954-acre tract along a chain link fence, S
60°13’47” W a distance of 323.65 feet to a 1/2” iron rod found at the most westerly corner of said
Cudworth 4.954-acre tract, said iron rod found also being on the northeast line of a 3.339-acre
tract as conveyed to G.R.P. Properties, Inc. by deed recorded in Volume 712, Page 259 of the Deed
Records of Guadalupe County, Texas, for an outside corner of this tract;

Exhibit A

 

THENCE, with the northeast line of said G.R.P. Properties 3.339-acre tract along a chain link
fence, N 30°05’07” W a distance of 25.03 feet to a 1/2” iron rod found for an inside corner of this
tract;

THENCE, with the northwest line of said G.R.P. Properties, Inc. 3.339-acre tract along a chain link
fence, S 60°10’03” W a distance of 208.99 feet to a 1/2” iron rod found at the most westerly corner
of said G.R.P. Properties, Inc. 3.339-acre tract, said iron rod found also being the most northerly
corner of said Ditch Witch Company of Central Texas, Inc. 3.00-acre tract;

THENCE, with the northwest line of said Ditch Witch Company of Central Texas, Inc. 3.00-acre tract
along a chain link fence, S 59°22’30” W a distance of 189.55 feet to a 1/2” iron rod set for an
inside corner of this tract;

THENCE, with the southwest line of said Ditch Witch Company of Central Texas, Inc. 3.00-acre tract
along a chain link fence, S 29°49’14” E a distance of 685.19 feet to the POINT OF BEGINNING, and
containing 49.801 acres of land, more or less.

Together with an Ingress and Egress Easement as described in the Deeds recorded in Volume 622, Page
610 and in Volume 627, Page 44 of the Deed Records of Guadalupe County, Texas.

Exhibit A

 

EXHIBIT B

Form of Escrow Agreement

EARNEST MONEY ESCROW AGREEMENT

	 	 	 
	ESCROW NO.                                         

	 	DATE:                                            , 2006

     1. The accompanying $100,000.00 is deposited with Chicago Title Insurance Company, as
Escrowee, to be delivered by it upon the joint order of the undersigned or their respective legal
representatives or assigns.

     2. Escrowee is hereby expressly authorized to disregard, in its sole discretion, any and all
notices or warnings given by any of the parties hereto, or by any other person or corporation, but
the said Escrowee is hereby expressly authorized to regard and to comply with and obey any and all
orders, judgments or decrees entered or issued by any court with or without jurisdiction, and in
case the said Escrowee obeys or complies with any such order, judgment or decree of any court it
shall not be liable to any of the parties hereto or any other person, firm or corporation by reason
of such compliance, notwithstanding any such order, judgment or decree being entered without
jurisdiction or being subsequently reversed, modified, annulled, set aside or vacated. In case of
any suit or proceeding regarding this escrow, to which said Escrowee is or may at any time become a
party, the undersigned jointly and severally agree to pay said Escrowee upon demand any and all
costs, fees and expenses (including attorneys’ fees, whether such attorneys shall be regularly
retained or specifically employed) which it may incur or become liable for on account thereof.

     3. In no case shall the above-mentioned deposits be surrendered except on an order signed by
both of the parties hereto, their respective legal representatives or assigns, or in obedience of
the process or order of court as aforesaid.

     4. Deposits made pursuant to these instructions may be invested on behalf of any party or
parties thereto in an interest-bearing savings account or short-term U.S. Treasury bills or similar
cash equivalents, provided, that any direction to Escrowee for such investment shall be expressed
in writing, and also provided that you are in receipt of the taxpayer’s identification number and
investment forms as required. Earnings arising from the investment of funds deposited hereunder,
less the cost of making such investment, shall be paid to or for the account of Purchaser at such
time as the funds deposited hereunder are surrendered by Escrowee in accordance with the terms of
this Agreement. Escrowee will, upon request, furnish information concerning its procedures and fee
schedules for investment.

     5. Except as to deposits of funds for which Escrowee has received express written direction
concerning investment or other handling, the parties hereto agree that the Escrowee shall be under
no duty to invest or reinvest any deposits at any time held by it hereunder; and, further, that
Escrowee may commingle such deposits with other deposits or with its own funds in the manner
provided for under applicable law. Provided, however, nothing herein shall diminish Escrowee’s
obligation to apply the full amount of the deposits in accordance with the terms of this Agreement.

Exhibit B - 1

 

     6. In the event the Escrowee is requested to invest deposits hereunder, Escrowee is not to be
held responsible for any loss of principal or interest which may be incurred as a result of making
the investments or redeeming said investment for the purposes of these escrow instructions, unless
Escrowee shall act in a negligent manner.

     7. Escrow
fee of $___ is to be charged one-half to Seller and one-half to Purchaser.

     8. All notices, requests, demands or other communications required or permitted under this
Agreement shall be in writing and delivered personally or by facsimile transmission, or by
overnight courier (such as Federal Express), addressed as follows:

	 	 	 	 	 
	 

	 	If to Seller:
	 	John B. Sanfilippo & Son, Inc.
	 

	 	 	 	2299 Busse Road
	 

	 	 	 	Elk Grove Village, Illinois 60007
	 

	 	 	 	Attention: Jeff Sanfilippo
	 

	 	 	 	Fax: 847/593-9608
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Jenner & Block LLP
	 

	 	 	 	One IBM Plaza
	 

	 	 	 	330 North Wabash Avenue
	 

	 	 	 	Chicago, Illinois 60611
	 

	 	 	 	Attention: Donald I. Resnick
	 

	 	 	 	Fax: 312/840-7656
	 
	 	 	 	 
	 

	 	If to Purchaser:
	 	Arthur/Busse Limited Partnership
	 

	 	 	 	300 East Touhy Limited Partnership
	 

	 	 	 	2299 Busse Road
	 

	 	 	 	Elk Grove Village, Illinois 60007
	 

	 	 	 	Attention: Matthias Valentine
	 

	 	 	 	Fax: 847/593-9608
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Stahl, Cowen, Crowley, LLC
	 

	 	 	 	55 W. Monroe St
	 

	 	 	 	Suite 500
	 

	 	 	 	Chicago, Illinois 60603
	 

	 	 	 	Attn: Lauane C. Addis
	 

	 	 	 	Fax: 312/641-6959
	 
	 	 	 	 
	 

	 	If to Escrow Agent:
	 	First American Title Insurance Company
	 

	 	 	 	30 North LaSalle Street
	 

	 	 	 	Suite 310
	 

	 	 	 	Chicago, Illinois 60602
	 

	 	 	 	Attention: John E. Beckstedt, Jr.
	 

	 	 	 	Fax: 312/553-0480

Exhibit B - 2

 

All notices given in accordance with the terms hereof shall be deemed given and received when
delivered. Either party hereto may change the address for receiving notices, requests, demands or
other communication by notice sent in accordance with the terms of this Section.

     9. This Agreement may be executed in any number of identical counterparts, any or all of which
may contain the signatures of fewer than all of the parties but all of which shall be taken
together as a single instrument.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Exhibit B - 3

 

	 	 	 	 	 	 	 
	 	 	SELLER:	 	 
	 
	 	 	 	 	 	 
	WITNESSES:	 	JOHN B. SANFILIPPO & SON, INC., a Delaware
corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PURCHASER:	 	 
	 
	 	 	 	 	 	 
	WITNESSES:	 	ARTHUR/BUSSE LIMITED PARTNERSHIP, an Illinois

limited partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESSES:	 	300 EAST TOUHY LIMITED PARTNERSHIP, an Illinois

limited partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 

Accepted
and Agreed this ___ day of                                          , 2006:

First American Title Insurance Company,

as Escrow Agent

	 	 	 	 	 
	By:

	 	 	 	 
	 

	 	 	 	 
	Name:
	 	 	 	 
	 

	 	 	 	 
	Title:
	 	 	 	 
	 

	 	 	 	 

Exhibit B - 4

 

EXHIBIT C

Form of Master Lease

[See Attached]

Exhibit C - 1

 

EXHIBIT D

Form of Special Warranty Deed

	 	 	 	 
	THIS INSTRUMENT PREPARED BY
	 	 	 
	AND:
	 	 	 
	 
	 	 	 
	Donald I. Resnick, Esq.
	 	 	 
	Jenner & Block LLP
	 	 	 
	One IBM Plaza
	 	 	 
	Chicago, Illinois 60611
	 	 	 
	 
	 	 	 
	AFTER RECORDING RETURN TO:
	 	 	 
	 
	 	 	 
	Ted A. Meyers, Esq.
	 	 	 
	Foot, Meyers, Mielke & Flowers, LLC
	 	 	 
	416 South Second Street
	 	 	 
	Geneva, Illinois 60134
	 	 	 
	 

	 	 	 
	 

	 	 	Above Space for Recorder’s Use Only

SPECIAL WARRANTY DEED

	 	 	 	 	 
	STATE OF TEXAS

	 	§

§
	 	KNOW ALL MEN BY THESE PRESENTS THAT:
	COUNTY OF BEXAR

	 	§	 	 

JOHN B. SANFILIPPO & SON, INC., a Delaware corporation (whether one or more, “Grantor”), for and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and valuable
consideration paid by
                                      (“                             ”), and
                                               ,
a[n]
                           
(“                  ”) (             and                            are referred to herein together as “Grantee”), the receipt and
sufficiency of which are hereby acknowledged and confessed, subject to the exceptions, liens,
encumbrances, terms and provisions hereinafter set forth and described, has GRANTED, BARGAINED,
SOLD and CONVEYED, and by these presents does hereby GRANT, BARGAIN, SELL and CONVEY, unto Grantee,
as tenants in common, all of that certain lot, tract or parcel of land situated in Bexar County,
Texas, and being more particularly described in Exhibit “A”, attached hereto and
incorporated herein by reference for all purposes, together with (i) any and all improvements
located thereon; (ii) any and all appurtenant easements or rights of way affecting said real
property and any of Grantor’s rights to use same; (iii) all right, title and interest of Grantor,
if any, in and to rights of ingress and egress to and from said real property along with the rights
to use same; (iv) all right title and interest of Grantor, if any, in and to all mineral rights
and interests relating to said real property (present and reversionary); (v) all right, title and
interest of Grantor, if any, in and to the present or future use of wastewater, wastewater
capacity, drainage, water or other utility facilities to the extent same pertain to or benefit said
real property or the improvements located thereon; and (vi) all right, title and interest of
Grantor, if any, in and to (a) any and all roads, streets, alleys and ways (open or proposed)
affecting, crossing, fronting or bounding said real property, (b) any and all

Exhibit D - 1

 

strips, gores or pieces of property abutting, bounding or which are adjacent or contiguous to said
real property (whether owned or claimed by deed, limitations or otherwise), (c) any and all air
rights relating to said real property, and (d) any and all reversionary interests in and to said
real property (hereinafter collectively referred to as “Property”); it being expressly understood
and agreed that              ’s and                     ’s undivided ownership in the Property is hereby
allocated as follows: (i) 50% to
                                        
and (ii) 50% to
                            .

     This conveyance is made subject and subordinate to the encumbrances and exceptions (“Permitted
Exceptions”) described in Exhibit “B” attached hereto and incorporated herein by reference
for all purposes.

     TO HAVE AND TO HOLD the Property, subject to the Permitted Exceptions as aforesaid, unto
Grantee, as tenants in common, and Grantee’s successors and assigns, forever; and Grantor does
hereby bind Grantor, and Grantor’s successors and assigns, to WARRANT and FOREVER DEFEND, all and
singular, the Property, subject to the Permitted Exceptions unto Grantee, and Grantee’s successors
and assigns, against every person whomsoever lawfully claiming or to claim the same or any part
thereof by, through or under Grantor, but not otherwise.

     Grantee, by its acceptance hereof, does hereby assume and agree to pay any and all ad valorem
taxes and special assessments pertaining to the Property for calendar
year 200___ and subsequent
years, there having been a proration of ad valorem taxes for the current calendar year between
Grantor and Grantee.

	 	 	 	 	 	 	 
	 	 	GRANTEE’S
ADDRESS FOR TAX NOTICES:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Attention:	 	 	 	 
	 

	 	 	 	 	 	 

[the remainder of this page intentionally left blank]

Exhibit D - 2

 

     IN WITNESS WHEREOF, the undersigned has executed this Special Warranty Deed as of this ___
day of ___, 200___.

	 	 	 	 	 	 	 
	GRANTOR:	 	JOHN B. SANFILIPPO & SON, INC., a Delaware
corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 	 	 	 	 
	STATE OF ILLINOIS

	 	 	)	 	 	 
	 

	 	 	)	 	SS. 	 
	COUNTY OF _______________

	 	 	)	 	 	 

I,                                                             , a notary public in and for said County, in the State
aforesaid, DO HEREBY CERTIFY that                                         , personally known to me to be
                                         of John B. Sanfilippo & Son, Inc., a Delaware corporation, and personally
known to me to be the same person whose name is subscribed to the foregoing instrument, appeared
before me this day in person and acknowledged that he signed and delivered the said instrument as
                                         of said corporation, as his free and voluntary act and as the free and voluntary
act and deed of said corporation, for the uses and purposes therein set forth.

     GIVEN under my hand and official seal this                      day of                                         , 200___.

	 	 	 
	 

	 	My Commission Expires:                                         
	 	 	 
	Notary Public
	 	 

{SEAL}

Exhibit D - 3

 

Exhibit A To Exhibit D

Legal Description

Exhibit D - 4

 

Exhibit B To Exhibit D

Permitted Exceptions

Exhibit D - 5

 

EXHIBIT E

Form of Dynapac Subordination

ASSIGNMENT AND ASSUMPTION AND CONTRACTUAL SUBORDINATION OF DYNAPAC LEASE

          THIS ASSIGNMENT AND ASSUMPTION AND CONTRACTUAL SUBORDINATION OF DYNAPAC LEASE (this
“Agreement”) is made and entered into as of this                      day of                                         , 2006 by and among
JOHN B. SANFILIPPO & SON, INC., a Delaware corporation (“JBSS”), and ARTHUR/BUSSE LIMITED
PARTNERSHIP, an Illinois limited partnership (“Arthur/Busse”), and 300 EAST TOUHY LIMITED
PARTNERSHIP, an Illinois limited partnership (“Touhy” and together with Arthur/Busse, the
“Partnerships”).

WITNESSETH:

          A. JBSS and the Partnerships are parties to that certain Agreement for Purchase of Real
Estate and Related Property dated as of                                         , 2006 (the “Purchase Agreement”), relating
to the sale and purchase of certain real estate located in Selma, Texas (the “Property”) and other
property.

          B. JBSS is lessor under that certain Industrial/Warehouse Lease Agreement effective as of
April 15, 1996, as amended, modified and renewed from time to time, with Dynapac USA Inc.
(“Dynapac”), pursuant to which Assignor leases a portion of the Property to Dynapac (as so amended,
modified, and renewed, the “Dynapac Lease”).

          C. Pursuant to said Purchase Agreement, JBSS and the Partnerships entered into a Master Lease
of the Property (the “Master Lease”).

          D. The Master Lease includes and encompasses the premises currently leased by JBSS to Dynapac
under the Dynapac Lease.

          E. The Purchase Agreement provides that in the event JBSS is unable to obtain Dynapac’s
consent to treating its lease as a sublease with JBSS, then JBSS shall assign the Dynapac Lease to
the Partnerships and the parties will agree to a contractual subordination of the Dynapac Lease to
the Master Lease.

          F. The parties to this Agreement intend that for all purposes as between themselves that the
Dynapac Lease shall be subordinate to the Master Lease and treated as a sublease from JBSS to
Dynapac.

          NOW, THEREFORE, in consideration of the foregoing premises and the respective representations,
warranties, agreements, covenants and conditions herein contained, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, JBSS and the
Partnerships hereby agree as follows:

Exhibit E - 1

 

          1. Capitalized Terms. Unless otherwise defined in this Agreement, all capitalized
terms used in this Agreement shall have the meanings ascribed to them in the Purchase Agreement.

          2. Assignment. As of the date hereof (the “Effective Date”), subject to the terms of
this Agreement, JBSS does hereby sell, assign, transfer, convey and deliver unto the Partnerships,
its successors and assigns, all of its right, title and interest in, to and under the Dynapac
Lease.

          3. Assumption. As of the Effective Date, subject to the terms of this Agreement, the
Partnerships hereby accept such assignment of the Lease and agrees to be bound by, and to keep,
observe and perform, the terms, covenants and conditions of the Dynapac Lease.

          4. Contractual Subordination. During the term of the Master Lease, despite the
assignment and assumption of the Dynapac Lease as provided in Sections 2 and 3
above, the parties agree that JBSS hereby contractually assumes:

	 	a.	 	All rights of the landlord under the Dynapac
Lease (including, without limitation, the right to collect and receive
for its own account all rents and other sums due under said Dynapac
Lease, to enforce all obligations of Dynapac under the Dynapac Lease,
and to pursue all remedies available to the landlord thereunder in the
event of a default by Dynapac); and
	 
	 	b.	 	All obligations of the landlord under the
Dynapac Lease (including, without limitation, all obligations existing
prior to the purchase of the Property by the Partnerships).

          5. Cooperation by the Partnerships. The Partnerships hereby agree to cooperate with
and assist JBSS in enforcing the Dynapac Lease, including, without limitation enforcing all
obligations of Dynapac under the Dynapac Lease, exercising any rights and obligations of landlord
under the Dyanpac Lease, and implementing all decisions made by JBSS with respect to the Dynapac
Lease, provided, however, that the Partnerships shall not be required to incur any costs or
expenses in connection therewith.

          6. Indemnification of the Partnerships. Except to the extent arising out of the
negligence or willful misconduct of the Partnerships or their directors, officers, members,
partners, shareholders, affiliates, employees, successors or assigns, JBSS shall indemnify, defend
and hold harmless the Partnerships and its directors, officers, members, partners, shareholders,
affiliates, agents, employees, successors and assigns from and against any and all loss, damage,
cost, liability, expense, claim, suits, or proceedings (including, without limitation, reasonable
attorneys’ fees, paralegal fees and costs) attributable to any obligations and liabilities that
arise or accrue under the Dynapac Lease prior to the expiration or earlier termination of the
Master Lease, whether occurring prior to or after the Effective Date.

          7. Further Assurances. Each party hereto, on behalf of itself and its successors and
assigns, agrees to do, execute, acknowledge and deliver, or to cause to be done, executed,
acknowledged and delivered, all such further acts, deeds, assignments, transfers,

Exhibit E - 2

 

conveyances, powers of attorney and assurances that may be reasonably requested by the other
party hereto to more fully complete and perform the transactions contemplated by this Agreement.

          8. Successor and Assigns. This Agreement and the terms, covenants, provisions and
conditions hereof shall be binding upon, and shall inure to the benefit of, the respective heirs,
successors and assigns of the parties hereto.

          9. Entire Agreement. This Agreement embodies the entire agreement and understanding
of the parties hereto with respect to the subject matter hereof and supersedes all prior and
contemporaneous agreements and understandings, oral or written, relating to said subject matter.

          10. Modification. This Agreement may not be amended or modified in any manner except
by a written agreement executed by each of the parties hereto.

          11. Waiver. Neither party hereto shall be deemed to have waived any right, power or
privilege under this Agreement unless such waiver shall have been expressed in a written instrument
signed by the waiving party. The failure of any party hereto to enforce any provision of this
Agreement shall in no way be construed as a waiver of such provision or a right of such party to
thereafter enforce such provision or any other provision of this Agreement.

          12. Governing Law. This Agreement and the respective rights and obligations of the
parties hereto shall be governed by and construed in accordance with the internal laws of the State
of Illinois, without regard to its conflicts of laws provisions.

          13. Construction of Agreement. This Agreement shall not be construed more strictly
against one party than against the other, merely by virtue of the fact that it may have been
prepared primarily by counsel for one of the parties, it being recognized that both Assignor and
Assignee have contributed substantially and materially to the preparation of this Agreement.

          14. Severability. If any provision of this Agreement is held to be invalid or
unenforceable, then, to the extent that such invalidity or unenforceability shall not deprive
either party of any material benefit intended to be provided by this Agreement, the remaining
provisions of this Agreement shall remain in full force and effect and shall be binding upon the
parties hereto.

          15. Captions. The captions of this Agreement are for convenience of reference only
and do not in any way limit or amplify the terms hereof.

          16. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed an original, but all of which shall
together constitute one and the same agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Exhibit E - 3

 

IN WITNESS WHEREOF, Assignor and Assignee have caused this Assignment and Assumption and
Contractual Subordination of Dynapac Lease to be executed as of the day and year first above
written.

	 	 	 	 	 	 	 
	 

	 	JBSS:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	JOHN B. SANFILIPPO & SON, INC., a Delaware
corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PARTNERSHIPS:	 	 
	 
	 	 	 	 	,	 
	 	 	 	 	 
	 

	 	a[n]	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	,	 
	 	 	 	 	 
	 

	 	a[n]	 	 	 	 
	 

	 	 	 	 	'	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 

Exhibit E - 4

 

EXHIBIT F

Schedule of Code Violations

None.

Exhibit F - 1

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