Document:

Exhibit 10.12

 

EXECUTION COPY

 

SUBSCRIPTION AGREEMENT

 

THIS
AGREEMENT is made as of June 15, 2007 (the “Agreement”), by and among STR Holdings LLC, a Delaware limited liability
company (the “Company”) and
the individuals and entities listed on the signature pages attached hereto
(collectively, the “Purchasers”
and, each individually a “Purchaser”).

 

W I T N
E S S E T H :

 

WHEREAS,
the Purchaser desires to become a member of the Company on the terms and
conditions set forth in this Agreement and in the Limited Liability Company
Agreement of the Company, dated as of the date hereof (the “LLC Agreement”),
a copy of which has been furnished to the Purchaser.  Capitalized terms not otherwise defined
herein shall have the meanings assigned to them in the LLC Agreement.

 

WHEREAS,
on the terms and subject to the conditions set forth herein, each Purchaser
desires to subscribe for and purchase, and the Company desires to sell to each
Purchaser, that number of units of the Company’s Class A Units (the “Class A
Units”), and for an
aggregate purchase price, as set forth on Schedule A attached hereto
opposite such Purchaser’s name (the purchase price to be paid by any particular
Purchaser for any Class A Units is herein referred to as the “Purchase Price”).

 

NOW,
THEREFORE, in order to implement the foregoing and in consideration of the
mutual representations, warranties, covenants and agreements contained herein
and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1.             Purchase and Sale of the Class A Units.

 

(a)           At the Closing referred to in Section 2 below, subject to
the terms and conditions set forth herein, the Company shall sell to each Purchaser
the Class A Units in the amount listed on Schedule A and each
Purchaser shall pay the Company the Purchase Price set forth on Schedule A.

 

(b)           The obligations of each Purchaser shall be several and not joint, and
no Purchaser shall be liable or responsible for the acts of any other Purchaser
under this Agreement.

 

2.             The Closing.

 

(a)           The closing of the
purchase and sale of the Class A Units (the “Closing”) shall occur on the date (the “Closing Date”)
of the closing of the merger of STR Acquisition, Inc. with and into Specialized
Technology Resources, Inc. (“STR”), with STR being the surviving entity (the “Merger”), pursuant
to the Amended and Restated Agreement and Plan of Merger, dated June 15,
2007 (the “Merger Agreement”).

 

(b)           At the Closing, each Purchaser shall deliver to the Company the
Purchase Price by wire transfer of immediately available funds to such accounts
as designated in writing by the Company to such Purchaser prior to the Closing
or by other means reasonably acceptable to the Company.  Payment of the Purchase Price shall be made
in U.S. dollars.

 

 

3.             Representations and Warranties of the Company.  The
Company hereby represents and warrants to each Purchaser as follows:

 

(a)           The Company is duly organized, validly existing and in good standing
under the laws of Delaware and has all requisite corporate power and authority
to carry on its business as now conducted and as proposed to be conducted.

 

(b)           The Company has full corporate power and authority to execute and
deliver this Agreement and all other agreements and instruments contemplated
hereby to which the Company is a party and to perform its obligations hereunder
and thereunder, and this Agreement and all such other agreements and
instruments have been duly authorized, executed and delivered by the Company
and, assuming the due execution and delivery of this Agreement and all other
agreements and instruments contemplated hereby to which the Company is a party,
by the other parties hereof and thereof, are valid, binding and enforceable
against the Company in accordance with their terms (except as such
enforceability may be affected by applicable bankruptcy, insolvency or other
similar laws affecting creditors’ rights generally, and except that the
availability of equitable remedies is subject to judicial discretion).

 

(c)           The execution, delivery and performance of this Agreement by the
Company, and the fulfillment of and compliance with the terms hereof by the
Company, do not and will not (i) violate or conflict with any requirements
of any material contract or obligation of the Company, including the
certificate of formation or limited liability company agreement of the Company,
(ii) result in or constitute (with or without the giving of notice, lapse
of time or both) any default or event of default under any such material
obligation of the Company, or give rise to a right of termination of, or
accelerate the performance required by, any terms of any such material
obligation, or (iii) violate any statute, law, ordinance, rule, regulation
or order of any court or governmental authority or any judgment, order or
decree (U.S. federal, state or local or foreign) applicable to the Company
(except as such enforceability may be affected by applicable bankruptcy,
insolvency or other similar laws affecting creditors’ rights generally, and
except that the availability of equitable remedies is subject to judicial
discretion).

 

(d)           The Class A Units, when issued, sold, delivered and paid for in
accordance with the terms of this Agreement, will be duly and validly issued,
fully paid and non-assessable and, assuming the accuracy of the representations
and warranties made by the Purchasers, will be issued in compliance with all
applicable federal and state securities laws.

 

(e)           The Company is newly formed and has not conducted any business, nor entered
into any agreements or contracts with any other person other than in connection
with its formation and in connection with the Merger.

 

(f)            There are no suits, actions, claims, demands,
hearings, indictments, proceedings or investigations pending against the
Company, or, to the knowledge of the Company, threatened against or involving
the Company, the members of the Company or the officers or managers of the
Company in connection with the business and affairs of the Company before any
court, arbitrator or administrative or governmental body (U.S. federal, state
or local or foreign).  The Company is not
subject to any judgment, decree, injunction or order of any court.

 

(g)           The Merger Agreement is in full force and effect, and a true and
correct copy thereof has been delivered to the Purchasers.  The Company has not waived or 

 

2

 

otherwise agreed to any
amendments to the Merger Agreement which has not been disclosed to the
Purchasers.

 

(h)           All sales of Class A Units made on the Closing Date are being made
on the same economic terms and conditions to the DLJMB Members, AXA Equitable
Life Insurance Company and Credit Suisse/CFIG STR Investors SPV, LLC.

 

4.             Representations and Warranties of the
Purchasers.  Each Purchaser hereby represents and
warrants, severally and not jointly, to the Company that:

 

(a)           If such Purchaser is not an individual, such Purchaser is a
corporation, partnership, limited liability company or trust, as the case may
be, duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization.  Such
Purchaser has full right, capacity and power to execute and deliver this
Agreement, the LLC Agreement and all other agreements and instruments
contemplated hereby to which such Purchaser is a party, and to perform his, her
or its obligations hereunder and thereunder. 
This Agreement, the LLC Agreement and all other agreements and
instruments contemplated hereby to which such Purchaser is a party have been
duly executed and delivered by or on behalf of such Purchaser and, assuming due
execution by each of the other parties hereto and thereto, constitute legal,
valid and binding agreements, enforceable against such Purchaser in accordance
with their terms (except as such enforceability may be affected by applicable
bankruptcy, insolvency or other similar laws affecting creditors’ rights
generally, and except that the availability of equitable remedies is subject to
judicial discretion).

 

(b)           The execution, delivery and performance of this Agreement, the LLC
Agreement and all other agreements and instruments contemplated hereby to which
such Purchaser is a party and the fulfillment of and compliance with the
respective terms hereof and thereof by the Purchaser, do not and will not (i) violate
or conflict with any requirements of any material contract or obligation of
such Purchaser, including, if such Purchaser is not an individual, the
certificate of incorporation, bylaws or comparable organizational documents of
such Purchaser, or (ii) result in or constitute (with or without the
giving of notice, lapse of time or both) any default or event of default under
any such material contract or obligation of the Purchaser, or give rise to a
right of termination of, or accelerate the performance required by, any terms
of any such material contract or obligation, or (iii) violate any statute,
law ordinance, rule, regulation or order of any court or governmental authority
or any judgment, order or decree (U.S. federal, state or local or foreign)
applicable to such Purchaser, in each case, unless such violation, conflict or
default would have a material adverse effect on the ability of such Purchaser
to fulfill and perform its obligations under this Agreement, the LLC Agreement
and all of the other agreements and instruments contemplated hereby to which
such Purchaser is a party.

 

(c)           The Class A Units to be received by such Purchaser will be
acquired by such Purchaser for investment only for such Purchaser’s own
account, not as a nominee or agent, and not with a view to the sale or
distribution of any part thereof in violation of applicable U.S. federal or
state or foreign securities laws.  Such
Purchaser has no current intention of selling, granting participation in or
otherwise distributing the Class A Units in violation of applicable U.S.
federal or state or foreign securities laws. 
Other than the LLC Agreement, such Purchaser does not have any contract,
undertaking, agreement or arrangement with any person or entity with respect to
the sale, transfer, voting or other rights of the Class A Units.

 

3

 

(d)           Such Purchaser understands that the offer and sale of the Class A
Units have not been registered under the Securities Act of 1933 as amended (the
“Securities Act”) or any
applicable U.S. state or foreign securities laws, and that the Class A
Units are being issued in reliance on an exemption from registration, which
exemption depends upon, among other things, the bona fide nature of the
investment intent and the accuracy of such Purchaser’s representations as
expressed herein.

 

(e)           Such Purchaser has such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risks of such
Purchaser’s investment.  Such Purchaser
is a sophisticated investor, has relied upon independent investigations made by
such Purchaser and, to the extent believed by such Purchaser to be appropriate,
such Purchaser’s representatives, including such Purchaser’s own professional,
tax and other advisors, and is making an independent decision to invest in the Class A
Units.  Such Purchaser has been furnished
with such documents, materials and information that such Purchaser deems
necessary or appropriate for evaluating an investment in the Company, and such
Purchaser has read carefully such documents, materials and information and
understands and has evaluated the types of risks involved with a purchase of
the Class A Units.  Such Purchaser
has not relied upon any representations (other than those set forth in Section 3
of this Agreement) or other information (whether oral or written) from the
Company or its respective members, managers, officers or affiliates, or from
any other person or entity, in connection with his, her, or its investment in
the Class A Units.  Such Purchaser
acknowledges that the Company has not given any assurances with respect to the
tax consequences of the acquisition, ownership and disposition of the Class A
Units.

 

(f)            Such Purchaser has had, prior to his, her, or
its purchase of the Class A Units, been furnished with, and has carefully
read, the LLC Agreement and has had the opportunity to ask questions of, and
receive answers from, the Company concerning the terms and conditions of the
transactions contemplated by this Agreement and such Purchaser’s investment in
the Class A Units and to obtain additional information necessary to verify
the accuracy of any information furnished to him, her, or it, or to which he or
she had access.

 

(g)           Such Purchaser understands that there are substantial restrictions on
the transferability of the Class A Units and that on the date of the
Closing and for an indefinite period thereafter there will be no public market
for the Class A Units and, accordingly, such Purchaser may not be able to
liquidate his, her, or its investment in case of emergency, if at all.  In addition, such Purchaser understands that
the LLC Agreement will contain substantial restrictions on the transferability
of the Class A Units and will provide that, in the event that the
conditions relating to the transfer of any Class A Units in such document
have not been satisfied, the holder shall not transfer any such Class A
Units, and unless otherwise specified the Company will not recognize the
transfer of any such Class A Units on its books and records or issue any
certificates representing any such Class A Units, and any purported
transfer not in accordance with the terms of the LLC Agreement shall be void.

 

(h)           Such Purchaser understands that this investment is not recommended for
investors who have any need for a current return on this investment or who
cannot bear the risk of losing their entire investment.  In that regard, such Purchaser understands
that the investment in the Class A Units involves a high degree of risk of
loss of such Purchaser’s investment therein, and that such Purchaser may lose
the entire amount of such Purchaser’s investment.  Such Purchaser acknowledges that: (i) such
Purchaser has adequate means of providing for his, her, or its current needs
and possible personal contingencies and has no need for liquidity in this
investment; (ii) such Purchaser’s commitment to investments that are not 

 

4

 

readily marketable is not
disproportionate to such Purchaser’s net worth; and (iii) such Purchaser’s
investment in the Class A Units will not cause his, her, or its overall
financial commitments to become excessive.

 

(i)            Such Purchaser is an “accredited investor” as
such term is defined in Rule 501 of the Securities Act and has completed Schedule
B to this Agreement as to Purchaser’s status as an “accredited investor”
and such information is true and complete.

 

(j)            Notwithstanding anything contained in this
Agreement to the contrary, the Purchaser acknowledges and agrees that the
Company is not making any representations or warranties whatsoever, express or
implied, beyond those expressly given in Section 3.  The Purchaser further represents that none of
the affiliates, officers, managers, employees, agents, consultants, attorneys
or representatives of the Company, STR nor any other person has made any
representation or warranty, express or implied, as to the accuracy or
completeness of any information regarding the Class A Units, the Company, STR
or the transactions contemplated by this Agreement not expressly set forth in
this Agreement, and none of the affiliates, officers, managers, employees,
agents, consultants, attorneys or representatives of the Company, STR, or any
other person will have or be subject to any liability to Purchaser or any other
person resulting from the distribution to the Purchaser or, as applicable, its
affiliates, officers, directors, employees, agents, consultants, attorneys or
representatives or the Purchaser’s use of, any due diligence or other
information, distributed on behalf of STR provided to the Purchaser or, as
applicable, its affiliates, officers, directors, employees, agents,
consultants, attorneys or representatives, or any other document or information
in any form provided to the Purchaser or, as applicable, its affiliates,
officers, directors, employees, agents, consultants, attorneys or
representatives in connection with the transactions contemplated hereby.

 

5.             Conditions to
Obligations of the Company and the Purchasers.

 

(a)           The obligations of
the Company to sell the Class A Units are subject to the satisfaction of
the following conditions: (i) the representations and warranties of each
Purchaser contained in Section 4 of this Agreement shall be true and
correct on and as of the Closing Date in all respects; (ii) each Purchaser
shall have entered into the LLC Agreement prior to or concurrently with the
Closing; and (iii) the concurrent consummation of the Merger, pursuant to
the terms of the Merger Agreement.

 

(b)           The obligations of
each of the Purchasers to purchase the Class A Units are subject to the
satisfaction of the following conditions precedent: (i) the
representations and warranties of the Company contained in Section 3 of
this Agreement shall be true and correct on and as of the Closing Date in all
respects and (ii) the Merger shall have been consummated pursuant to the
terms of the Merger Agreement.

 

6.             Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be
considered an original, but all of which taken together shall constitute one
and the same Agreement.

 

7.             No Waiver; Modifications in Writing.  This
Agreement, together with the LLC Agreement and the other agreements referred to
herein and therein and any exhibits, schedules or other documents referred to
herein or therein, sets forth the entire understanding of the parties, and
supersedes all prior agreements, arrangements, term sheets, presentations and
communications, whether oral or written, with respect to the specific subject
matter hereof.  No waiver of or consent
to any departure from any provision of this Agreement shall be effective 

 

5

 

unless signed in writing by
the party entitled to the benefit thereof. 
Except as otherwise provided herein, no amendment, modification or
termination of any provision of this Agreement shall be effective unless signed
in writing by or on behalf of the Company and each Purchaser.  Any amendment, supplement or modification of
or to any provision of this Agreement, any waiver of any provision of this
Agreement, and any consent to any departure by the Company from the terms of
any provision of this Agreement, shall be effective only in the specific
instance and for the specific purpose for which made or given.

 

8.             Binding Effect; Assignment.  The
rights and obligations of each party under this Agreement may not be assigned
to any other person or entity.  Except as
expressly provided in this Agreement, this Agreement shall not be construed so
as to confer any right or benefit upon any person or entity other than the
parties to this Agreement, and their respective successors and assigns.  This Agreement shall be binding upon the Company,
each Purchaser and their respective heirs, successors, legal representatives
and permitted assigns.

 

9.           Severability of Provisions.  Any
provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting the validity or enforceability of such provision
in any other jurisdiction.

 

10.           Schedules and Descriptive Headings.  All Schedules
to this Agreement shall be deemed to be a part of this Agreement.  The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a part of this
Agreement.

 

11.           Governing Law.  This
Agreement, and all disputes, claims or causes of action that arise from or are
in connection with this Agreement, shall be governed by and construed in
accordance with the domestic substantive laws of the State of New York without
giving effect to any choice or conflict of law provision or rule that
would cause the application of the domestic substantive laws of any other
jurisdiction.

 

[The remainder of this page has
been intentionally left blank.]

 

6

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their respective authorized officers as of the day and year
first above written.

 

 

	
   

  	
   

  	
  STR HOLDINGS LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Ryan Sprott

  
	
   

  	
   

  	
  Title: Vice President and Secretary

  

 

 

SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

 

 

	
   

  	
   

  	
  DLJ MERCHANT BANKING PARTNERS IV, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking IV, L.P., its General
  Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking, Inc., its
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

	
   

  	
   

  	
  DLJ OFFSHORE PARTNERS IV, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking IV, L.P., 

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking, Inc., its
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

	
   

  	
   

  	
  DLJ MERCHANT BANKING PARTNERS IV (PACIFIC),
  L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  MBP IV Pacific, LLC,

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking IV, L.P.,

  
	
   

  	
   

  	
   

  	
  its Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ Merchant Banking, Inc.

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

	
   

  	
   

  	
  MBP IV PLAN INVESTORS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DLJ LBO Plans Management Corporation, 

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

SIGNATURE PAGE
TO SUBSCRIPTION AGREEMENT

 

 

	
   

  	
   

  	
  By:

  	
  DLJ LBO Plans Management Corporation III, 

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

	
   

  	
   

  	
  DLJ MERCHANT BANKING PARTNERS IV (CO-

  INVESTMENTS) GP, L.P

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  MBP IV Co-Investments GP, L.P.,

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Credit Suisse First Boston (Cayman)
  Management Limited, 

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: 

  

 

 

SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

 

 

	
   

  	
   

  	
  THE NORTHWESTERN MUTUAL LIFE INSURANCE 

  
	
   

  	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
   

  	
  Title: Authorized Representative

  

 

 

SIGNATURE PAGE
TO SUBSCRIPTION AGREEMENT

 

 

SCHEDULE A

 

	
  Purchaser

  	
   

  	
  Class A Units

  	
   

  	
  Total Purchase Price

  	
   

  
	
  The Northwestern Mutual Life Insurance
  Company

  	
   

  	
  3,000,000

  	
   

  	
  $

  	
  30,000,000

  	
   

  
							

 

 

SCHEDULE B

 

ACCREDITED INVESTOR STATUS

 

The Purchaser represents and
warrants that he is an “accredited investor” as defined in Rule 501(a) promulgated
under Regulation D of the Securities Act, because he meets at least one of the
following criteria (please initial each applicable item):

 

	
  ·

  	
   

  	
  The Purchaser is a natural
  person whose individual net worth, or joint net worth with his or her spouse,
  exceeds $1,000,000 at the time of the subscriber’s purchase; or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is a natural
  person who had an individual income in excess of $200,000 in each of the two
  most recent years (2003 and 2004) or joint income with the Purchaser’s spouse
  in excess of $300,000 in each of those years and who reasonably expects to
  reach the same income level in the current year (2005); or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is a
  corporation, or similar business trust, partnership or an organization
  described in Section 501(c)(3) of the Internal Revenue Code, not
  formed for the specific purpose of acquiring the Issuer Common Stock, with
  total assets in excess of $5,000,000; or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is either
  (i) a bank as defined in Section 3(a)(2) of the Securities
  Act, or any savings and loan association or other institution as defined in
  Section 3(a)(5)(A) of the Securities Act whether acting in its
  individual or fiduciary capacity, (ii) a broker or dealer registered
  pursuant to Section 15 of the Securities Exchange Act of 1934, as amended,
  (iii) an insurance company as defined in Section 2(13) of the
  Securities Act, (iv) an investment company registered under the
  Investment Company Act of 1940, as amended, or a business development company
  as defined in Section 2(a)(48) of such Act, (v) a Small Business
  Investment Company licensed by the U.S. Small Business Administration under
  Section 301(c) or (d) of the Small Business Investment Act of
  1958, (vi) a plan established or maintained by a state, its political
  subdivisions, or any agency or instrumentality of a state or its political
  subdivisions, for the benefit of its employees, if such plan has total assets
  in excess of $5,000,000 or (vii) an employee benefit plan within in the
  meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
  if the investment decision is made by a plan fiduciary, as defined in
  Section 3(21) of ERISA, which plan fiduciary is either a bank, savings
  and loan association, insurance company or registered investment adviser, or
  if the employee benefit plan has total assets in excess of $5,000,000 or, if
  a self-directed plan, with investment decisions made solely by persons who
  are accredited investors; or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is a private
  business development company as defined in Section 202(a)(22) of the
  Investment Advisers Act of 1940, as amended; or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is a
  director or executive officer of the Company; or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is a trust,
  with total assets in excess of $5,000,000, not formed for the specific
  purpose of acquiring the Securities, the purchase of which is directed by a
  sophisticated person as described in Rule 506(b)(2)(ii) of
  Regulation D promulgated 

  

 

 

	
   

  	
   

  	
  under the Securities Act;
  or

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The Purchaser is any
  entity in which all of the equity owners are accredited investors. (Please
  submit a copy of this page countersigned by each such equity owner if relying
  on this item).Exhibit 10.13

 

EXECUTION COPY

 

ADVISORY SERVICES AND MONITORING AGREEMENT

 

This Advisory Services and Monitoring Agreement
(this “Agreement”) is entered into as of June 15, 2007, by and
among Specialized Technology Resources, Inc. (the “Company”), DLJ
Merchant Banking, Inc. (“DLJMB”), Westwind STR Advisors, LLC (“Stone”)
and Dennis L. Jilot (“Jilot”) (DLJMB, Stone and Jilot each an “Advisor”
and, collectively, the “Advisors”)

 

WHEREAS, pursuant to an Amended and Restated Agreement and
Plan of Merger, dated as of June 15, 2007, by and among the Company, STR
Holdings LLC (as successor to STR Holdings, Inc.) (“Holdings”) and STR
Acquisition, Inc., a wholly-owned subsidiary of Holdings (“Mergerco”),
Mergerco merged with and into the Company with the Company being the surviving
entity (the “Merger”);

 

WHEREAS, in connection with the Merger, Stone and Jilot
have provided to Holdings advice and analysis, including assistance with due
diligence and other investigatory matters related to the Company;

 

WHEREAS, the Advisors are specially skilled in corporate
finance, strategic corporate planning, and other management skills and advisory
and business monitoring services;

 

WHEREAS, Holdings, the Company and subsidiaries of the Company
(collectively, the “Company Group”) will require such skills and
services from the Advisors in connection with their business operations and
execution of their strategic plan; and

 

WHEREAS, the Advisors are willing to provide such skills
and services to the Company and the other members of the Company Group and the
Company desires to retain the Advisors with respect to the services described
herein.

 

NOW, THEREFORE, in consideration of the mutual covenants
contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending
to be legally bound, hereby agree as follows:

 

1.                                      Appointment.

 

(a)                                  The Company hereby
appoints the Advisors, or their respective designees, on a non-exclusive basis,
as its advisors with respect to the following services to the extent
appropriate and requested by the Company or any member of the Company
Group:  (i) assisting the Company or
any member of the Company Group in analyzing its operations and historical
performance; (ii) assisting the Company or any member of the Company Group
in analyzing future prospects; (iii) assisting the Company or any member
of the Company Group with respect to future proposals for tender offers,
acquisitions, sales, mergers, financings, exchange offers, recapitalizations,
restructurings or other similar transactions that may be consummated during the
term of this Agreement; and (iv) providing financial and business
monitoring services, including with respect to assisting the Company or any
member of the Company Group in preparing a strategic plan.

 

(b)                                 The Advisors do
not make any representations or warranties, express or implied, in respect of
the services to be provided by the Advisors or their designee hereunder.  In no event shall the Advisors or their respective
affiliates be liable to any member of the Company

 

 

or any of their respective
affiliates for any act, alleged act, omission or alleged omission that does not
constitute gross negligence or willful misconduct of the Advisors or their
designees as determined by a final, non-appealable determination of a court of
competent jurisdiction.

 

(c)                                  The Advisors
shall devote such time and efforts to the performance of services contemplated
hereby as the Advisors reasonably deem necessary or appropriate; provided,
however, that no minimum number of hours is required to be devoted by the
Advisors on a weekly, monthly, annual or other basis.  The Company acknowledges that the Advisors’
services are not exclusive to the Company or any other members of the Company
Group and that the Advisors may render similar services to other persons and
entities.

 

2.                                      Term
and Termination.

 

(a)                                  This Agreement
shall continue in full force and effect for a term of seven (7) years.  This Agreement shall automatically renew on
each anniversary of the date hereof, and, in connection with each renewal, the
term of this Agreement shall be seven (7) years from the date of such
renewal.

 

(b)                                 This Agreement (i) may
be terminated by the Advisors at any time prior to the consummation of an
initial public offering (“IPO”), (ii) shall terminate automatically
upon the consummation of an IPO, and (iii) shall terminate automatically
upon the consummation of a Change of Control (as defined in the Amended and
Restated Limited Liability Company Agreement of Holdings, dated June 15,
2007, as may be amended from time to time (the “LLC Agreement”)).  In the event that this Agreement is
automatically terminated pursuant to clause (ii) above, the Company agrees
to pay the Advisors, at the time of such termination, a cash lump sum
termination fee (the “Termination Fee”) equal to the net present value
of the amount of the aggregate Monitoring Fee (as defined below in Section 3(a))
that otherwise would have been payable from the Company to the Advisors from
the date of the termination until the expiration date in effect immediately
prior to the termination, calculated using a discount rate equal to the ten
year treasury rate on the date of the termination.

 

(c)                                  No termination
of the Advisors’ engagement hereunder shall affect any of the Company’s
obligations under this Agreement, including, without limitation, the Company’s
indemnity obligations as set forth herein.

 

(d)                                 In the event
that Jilot ceases to serve on Holdings’ board of directors his right to any and
all payments under this Agreement shall terminate.  In the event that Stone ceases to serve on
Holdings’ board of directors, his right to any and all payments under this
Agreement shall terminate.

 

(e)                                  The terms and
provisions of Sections  1(b), 2, 4, and 5
shall survive any termination of this Agreement.

 

3.                                      Payment
of Fees.

 

(a)                                  In
consideration of the advisory services provided by Stone and Jilot in
connection with the Merger, the Company shall pay Stone a fee in the amount of
$164,482 and Jilot a fee in the amount of $98,492.

 

2

 

(b)                                 In
consideration of the ongoing advisory services to be provided by the Advisors
to the Company and any other member of the Company Group, the Company will pay
to each Advisor (or any of their respective designees) its pro rata portion of an
annual advisory fee in an amount as set forth in (c) below (the “Monitoring
Fee”).  The Monitoring Fee shall be payable
quarterly in advance on the first business day of each calendar quarter (January 1,
April 1, July 1 and October 1) and shall continue through the
date of termination of this Agreement; provided, that, a pro-rata portion of
the Monitoring Fee shall be paid for the period from the date of the Merger
through June 30, 2007.  If this
Agreement is terminated pursuant to Section 2, any unearned portion
of the Monitoring Fee will be reimbursed to the Company by the Advisors.  The portion of the Monitoring Fee payable to
each Advisor shall be equal to the product of (i) the Monitoring Fee and (ii) such
Advisor’s Percentage Interest.  For these
purposes, the respective “Percentage Interests” of the Advisors shall be
as follows:  DLJMB - 84.525%; Stone – 9.679%;
and Jilot – 5.796%.

 

(c)                                  The initial
Monitoring Fee shall be $500,000.  From
time to time, the Company and DLJMB may agree to increase the Monitoring Fee; provided,
however, that each Advisor shall participate pro rata in any increase in
accordance with its Percentage Interest.

 

(d)                                 All payments
and reimbursements made pursuant to Sections 2, 3 and 4
will be paid by wire transfer of immediately available U.S. Dollars to an
account specified by the Advisor in writing to the Company.

 

4.                                      Expenses;
Indemnification.

 

(a)                                  Expenses.  In addition to the compensation to be paid
pursuant to Sections 2(c), 3(a) and 3(b) above,
promptly upon request by DLJMB from time to time, the Company shall reimburse DLJMB
(or its respective designees) for its reasonable out-of-pocket expenses
incurred in connection with the provision of services hereunder to the Company
or other member of the Company Group, including, without limitation, the
reasonable fees and disbursements of its legal counsel, if any, and of any
other advisors retained by DLJMB, in connection with the enforcement,
preservation or analysis of rights or taking of actions under this Agreement or
otherwise resulting from or arising out of this engagement.

 

(b)                                 Indemnification.  The Company shall indemnify and hold harmless
the Advisors, their affiliates, and their respective directors, officers,
controlling persons (within the meaning of Section 15 of the Securities
Act of 1933, as amended, or Section 20(a) of the Securities Exchange
Act of 1934, as amended), if any, agents and employees (the Advisors, their affiliates,
and such other specified persons being collectively referred to as “Indemnified
Persons,” and individually as an “Indemnified Person”) from and
against any and all claims, liabilities, losses, damages and expenses incurred
by any Indemnified Person (including those arising out of an Indemnified Person’s
negligence and reasonable fees and disbursements of the respective Indemnified
Person’s counsel) that (A) are related to or arise out of (i) actions
taken or omitted to be taken (including, without limitation, any untrue statements
made or any statements omitted to be made) by any member of the Company Group or
(ii) actions taken or omitted to be taken by an Indemnified Person with the
consent of any member of the Company Group or in conformity with the
instructions of any member of the Company Group or the actions or omissions of
the Company Group or (B) are otherwise related to or arise out of the
Advisors’ engagement, and will reimburse each Indemnified Person for all costs
and expenses, including, without limitation, reasonable fees and disbursements
of any Indemnified Person’s counsel, as

 

3

 

they are incurred, in
connection with investigating, preparing for, defending or appealing any
action, formal or informal claim, investigation, inquiry or other proceeding,
whether or not in connection with pending or threatened litigation, caused by
or arising out of or in connection with the Advisors’ acting pursuant to the
Advisors’ engagement, whether or not any Indemnified Person is named as a party
thereto and whether or not any liability results therefrom.  The Company will not, however, be responsible
for any claims, liabilities, losses, damages or expenses pursuant to clause (B) of
the preceding sentence that have resulted primarily from either the Advisors’ bad
faith, gross negligence or willful misconduct. 
The Company also agrees that neither the Advisors nor any other
Indemnified Person shall have any liability to the Company or any member of the
Company Group for or in connection with such engagement except for any such
liability for claims, liabilities, losses, damages or expenses incurred by the
Company or any member of the Company Group that have resulted primarily from the
Advisors’ bad faith, gross negligence or willful misconduct.  The Company further agrees that it will not,
without the prior written consent of the Advisors, settle or compromise or
consent to the entry of any judgment in any pending or threatened claim,
action, suit or proceeding in respect of which indemnification may be sought
hereunder (whether or not any Indemnified Person is an actual or potential
party to such claim, action, suit or proceeding) unless such settlement,
compromise or consent includes an unconditional release of the Advisors and
each other Indemnified Person hereunder from all liability arising out of such
claim, action, suit or proceeding.  THE COMPANY HEREBY ACKNOWLEDGES THAT THE FOREGOING INDEMNITY SHALL BE
APPLICABLE TO ANY CLAIMS, LIABILITIES, LOSSES, DAMAGES OR EXPENSES THAT HAVE RESULTED
FROM OR ARE ALLEGED TO HAVE RESULTED FROM THE ACTIVE OR PASSIVE OR THE SOLE,
JOINT OR CONCURRENT ORDINARY NEGLIGENCE OF THE ADVISORS OR ANY OTHER
INDEMNIFIED PERSON.

 

The foregoing right to indemnity shall be in
addition to any rights that the Advisors and/or any other Indemnified Person
may have at common law or otherwise and shall remain in full force and effect
following the completion or any termination of the engagement.

 

It is understood that, in connection with the
Advisors’ engagement, the Advisors may also be engaged to act for the Company
in one or more additional capacities, and that the terms of this engagement or
any such additional engagement(s) may be embodied in one or more separate
written agreements.  This indemnification
shall apply to the engagement specified in Section 1 hereof as well
as to any such additional engagement(s) (whether written or oral) and any
modification of said engagement or such additional engagement(s) and shall
remain in full force and effect following the completion or termination of said
engagement or such additional engagements.

 

5.                                      No
Exclusive Duty to the Company.  In recognition that (i) the Advisors
currently have, and will in the future have or will consider acquiring,
investments in numerous companies with respect to which the Advisors may serve
as an advisor, a director or in some other capacity, (ii) the Advisors may
have a myriad of duties to various investors and partners, (iii) the
Advisors (or one or more affiliates, associated investment funds or portfolio
companies) may engage in the same or similar activities or lines of business as
the Company and have an interest in the same areas of corporate opportunities, (iv) the
Company will derive certain benefits hereunder and (v) the Advisors, in
desiring and endeavoring fully to satisfy their duties, may confront
difficulties in determining the full scope of such duties in any particular
situation, the provisions of this Section 5 are set forth to
regulate, define and guide the conduct of certain

 

4

 

affairs of the Company and
other members of the Company Group as they may involve the Advisors.

 

(a)                                  Notwithstanding
anything to the contrary contained herein, (i) the Advisors shall not be
required to devote all of their time and efforts to the Company, may have other
business interests and may engage in other activities in addition to those
relating to the Company and the Company Group, and such other business
interests or activities may be of any nature or description, and may be engaged
in independently or with others, and (ii) neither the Company nor the
Company Group shall have any right, by virtue of this Agreement or the Company
relationship created hereby, in or to such other ventures or activities of the
Advisors or any of their affiliates, or to the income or proceeds derived
therefrom, and the pursuit of such ventures, even if competitive with the
Company business, shall not be deemed wrongful or improper.

 

(b)                                 Neither the
Advisors nor any of their affiliates, shall be liable to the Company or any of their
affiliates for breach of any duty (contractual or otherwise) by reason of any
activities or omissions of the types referred to in Section 5(a) or
the Advisors’ or their affiliates’ participation therein.

 

6.                                      Amendments
and Waivers.  No
amendment or waiver of any term, provision or condition of this Agreement shall
be effective, unless in writing and executed by Advisors and the Company;
provided, that no such amendment will adversely affect any one Advisor
disproportionately to any other Advisor without the consent of that
Advisor.  No waiver on any one occasion
shall extend to or effect or be construed as a waiver of any right or remedy on
any future occasion.  No course of
dealing of any person nor any delay or omission in exercising any right or
remedy shall constitute an amendment of this Agreement or a waiver of any right
or remedy of any party hereto.

 

7.                                      Miscellaneous.

 

(a)                                  Choice
of Law.  This Agreement, and all
disputes, claims or causes of action that arise from or are in connection with
this Agreement, shall be governed by and construed in accordance with the
domestic substantive laws of the State of New York without giving effect to any
choice or conflict of law provision or rule that would cause the
application of the domestic substantive laws of any other jurisdiction.

 

(b)                                 Consent
to Jurisdiction.  Each of the
parties agrees that all actions, suits or proceedings arising out of or based
upon this Agreement or the subject matter hereof shall be brought and
maintained exclusively in the federal and state courts of the State of New
York.  Each of the parties hereto by
execution hereof (i) hereby irrevocably submits to the jurisdiction of the
federal and state courts in the State of New York for the purpose of any
action, suit or proceeding arising out of or based upon this Agreement or the
subject matter hereof and (ii) hereby waives to the extent not prohibited
by applicable law, and agrees not to assert, by way of motion, as a defense or
otherwise, in any such action, suit or proceeding, any claim that it is not
subject personally to the jurisdiction of the above-named courts, that it is
immune from extraterritorial injunctive relief or other injunctive relief, that
its property is exempt or immune from attachment or execution, that any such
action, suit or proceeding may not be brought or maintained in one of the
above-named courts, that any such action, suit or proceeding brought or
maintained in one of the above-named courts should be dismissed on grounds of forum
non

 

5

 

conveniens, should be
transferred to any court other than one of the above-named courts, should be
stayed by virtue of the pendency of any other action, suit or proceeding in any
court other than one of the above-named courts, or that this Agreement or the
subject matter hereof may not be enforced in or by any of the above-named
courts.  Each of the parties hereto
hereby consents to service of process in any such suit, action or proceeding in
any manner permitted by the laws of the State of New York, agrees that service
of process by registered or certified mail, return receipt requested, at the
address specified in or pursuant to Section 12 is reasonably
calculated to give actual notice and waives and agrees not to assert by way of
motion, as a defense or otherwise, in any such action, suit or proceeding any
claim that service of process made in accordance with Section 12
does not constitute good and sufficient service of process.  The provisions of this Section 7(b) shall
not restrict the ability of any party to enforce in any court any judgment
obtained in a federal or state court of the State of New York.

 

(c)                                  Waiver
of Jury Trial.  TO THE
EXTENT NOT PROHIBITED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY
WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT,
OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE,
CLAIM, DEMAND, CAUSE OF ACTION, ACTION, SUIT OR PROCEEDING ARISING OUT OF OR
BASED UPON THIS AGREEMENT OR THE SUBJECT HEREOF, IN EACH CASE WHETHER NOW
EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT OR TORT OR
OTHERWISE.  Each of the parties hereto
acknowledges that it has been informed by each other party that the provisions
of this Section 7(c) constitute a material inducement upon
which such party is relying and will rely in entering into this Agreement and
the transactions contemplated hereby. 
Any of the parties hereto may file an original counterpart or a copy of
this Agreement with any court as written evidence of the consent of each of the
parties hereto to the waiver of its right to trial by jury.

 

(d)                                 Authority
to Enter Agreement.  Each party
to this Agreement has all requisite power and authority to enter into this
Agreement and the transactions contemplated hereby.  This Agreement has been duly and validly
authorized by all necessary action on the part of each party and when duly
executed and delivered by such party shall constitute a legal, valid and
binding agreement of such party, enforceable in accordance with its terms.

 

8.                                      Independent
Contractor.  The parties
agree and understand that the Advisors are and shall act as an independent
contractor of the Company in the performance of their duties hereunder.  The Advisors, in the performance of their duties
hereunder will not hold itself out as, employee, agent or partner of the Company.

 

9.                                      Information.  The Company shall (i) furnish and make
available to the Advisors, in a timely manner, annual, quarterly and monthly consolidated
financial statements, (ii) use reasonable efforts to cause its officers,
directors, managers and employees to afford the Advisors, during normal
business hours and upon reasonable notice, reasonable access and consultation rights
at all reasonable times, and (iii) afford the Advisors the opportunity to discuss
the Company’s affairs, finances and accounts with the Company’s officers from
time to time as it may reasonably request. 
The Company acknowledges and confirms that the Advisors (i) will
rely solely on such information and information that is available from public
sources in the performance of the services contemplated by this engagement
without assuming any responsibility for independent investigation or
verification thereof, (ii) will assume no

 

6

 

responsibility for the
accuracy or completeness of such information or any other information regarding
the Company and (iii) will not make any appraisal of any assets of the Company.

 

10.                               Confidentiality.  No advice rendered by the Advisors, whether
formal or informal, may be disclosed, in whole or in part, or summarized,
excerpted from or otherwise referred to without the Advisors’ prior written
consent.  To the extent consistent with
legal requirements, all information given to one party of this Agreement (the “Recipient
Party”) by another party (the “Providing Party”), including, without
limitation, this Agreement, unless publicly available or otherwise available to
the Recipient Party without restriction or breach of any confidentiality
agreement, will be held by the Recipient Party in confidence and will not,
without the Providing Party’s prior approval, be disclosed to anyone other than
the Recipient’s agents and advisors who require such information to perform
services for the Providing Party as contemplated by this Agreement (and who
agree to use such information only in connection with such services) or used by
such person for any purpose other than those contemplated by this
Agreement.  Each party hereto shall be
responsible for violations of its respective agents and advisors of the
obligations set forth in this Section 10.  Notwithstanding anything to the contrary set
forth herein or in any other agreement to which the parties hereto are parties
or by which they are bound, the obligations of confidentiality contained herein
and therein, as they relate to the services to be provided hereunder, shall not
apply to the tax structure or tax treatment of the transactions subject to the
services to be provided hereunder, and each party hereto (and any employee,
representative, or agent of any party hereto) may disclose to any and all
persons, without limitation of any kind, the tax structure and tax treatment of
the transaction subject to the services to be provided hereunder and all
materials of any kind (including opinions or other tax analysis) that are
provided to such party relating to such tax treatment and tax structure; provided,
however, that such disclosure shall not include the name (or other
identifying information not relevant to the tax structure or tax treatment) of
any person and shall not include information for which nondisclosure is
reasonably necessary in order to comply with applicable securities laws.

 

11.                               Merger/Entire
Agreement.  This
Agreement and the other agreements referred to herein, contain the entire
understanding of the parties with respect to the specific subject matter hereof
and supersedes any prior communication or agreement with respect thereto.

 

12.                               Notice.  All notices, requests, consents and other
communications hereunder to any party shall be deemed to be sufficient if
contained in a written instrument delivered in person or sent by telecopy,
nationally-recognized overnight courier or first class registered or certified
mail, return receipt requested, postage prepaid, addressed to such party at the
address set forth below or such other address as may hereafter be designated in
writing by such party to the other parties:

 

If to the Company, to:

 

Specialized Technology
Resources, Inc.

10 Water Street

Enfield, CT  06082-4899

Attn:  Barry A. Morris

Facsimile:  (860) 749-9158

 

7

 

If to the Advisors, to:

 

DLJ Merchant Banking, Inc.

Eleven Madison Avenue, 16th
Floor

New York, New York  10010

Attn:  Susan C. Schnabel

Facsimile:  (310) 712-2734

 

Westwind STR Advisors, LLC

917 Tahoe Blvd, Suite 200

Incline Village, NV 89451

 

Dennis L. Jilot

10 Water Street

Enfield, CT  06082-4899

 

All such notices, requests, consents
and other communications shall be deemed to have been delivered (a) in the
case of personal delivery or delivery by telecopy, on the date of such
delivery, (b) in the case of dispatch by nationally-recognized overnight
courier, on the next business day following such dispatch and (c) in the
case of mailing, on the third business day after the posting thereof.

 

13.                               Severability.  If in any judicial or arbitral proceedings a
court or arbitrator shall refuse to enforce any provision of this Agreement,
then such unenforceable provision shall be deemed eliminated from this
Agreement for the purpose of such proceedings to the extent necessary to permit
the remaining provisions to be enforced. 
To the full extent, however, that the provisions of any applicable law
may be waived, they are hereby waived to the end that this Agreement be deemed
to be a valid and binding agreement enforceable in accordance with its terms,
and in the event that any provision hereof shall be found to be invalid or
unenforceable, such provision shall be construed by limiting it so as to be
valid and enforceable to the maximum extent consistent with and possible under
applicable law.

 

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

 

15.                               Descriptive
Headings.  All
descriptive headings in this Agreement are inserted for convenience only and
shall be disregarded in construing or applying any provision of this Agreement.

 

16.                               Prevailing
Party.  If any legal action or other
proceedings is brought for a breach of this Agreement, the prevailing party
shall be entitled to recover its reasonable attorneys’ fees and other costs
incurred in bringing such action or proceeding, in addition to any other relief
to which such party may be entitled.

 

17.                               Non-Recourse.  No past, present or future director, officer,
employee, incorporator, member, partner, stockholder, affiliate, agent,
attorney or representative of the

 

8

 

Advisors, any member of the
Company Group or any of their respective affiliates shall have any liability
for any obligations or liabilities of the Advisors, any member of the Company
Group or any of their respective affiliates under this Agreement or for any
claim based on, in respect of, or by reason of, the transactions or other
matters contemplated hereby. 

 

9

 

IN WITNESS WHEREOF, each of the parties has
caused this Agreement to be executed on its behalf by its duly authorized
officer or representative as of the date first above written.

 

	
   

  	
  SPECIALIZED TECHNOLOGY

  RESOURCES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Barry A. Morris

  
	
   

  	
   

  	
  Title: Vice President and Secretary

  

 

 

SIGNATURE PAGE FOR
MONITORING AGREEMENT (DLJMB/STONE/JILOT)

 

 

	
   

  	
  DLJ MERCHANT BANKING, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Kenneth Lohsen

  
	
   

  	
   

  	
  Title: Vice President

  

 

 

SIGNATURE PAGE FOR
MONITORING AGREEMENT (DLJMB/STONE/JILOT)

 

 

	
   

  	
  WESTWIND STR ADVISORS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

SIGNATURE PAGE FOR
MONITORING AGREEMENT (DLJMB/STONE/JILOT)

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Dennis L. Jilot

  

 

 

SIGNATURE PAGE FOR
MONITORING AGREEMENT (DLJMB/STONE/JILOT)

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