Document:

exv10w7

 

Exhibit 10.7

EXECUTION

EXHIBIT M

TO CREDIT AGREEMENT

      

SECURITY AGREEMENT

By

BEARINGPOINT, INC.

and

BEARINGPOINT, LLC

and

THE GUARANTORS PARTY HERETO

and

UBS AG, STAMFORD BRANCH,

as Collateral Agent

 

Dated as of May 18, 2007

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	PREAMBLE
	 	 	1	 
	 
	 	 	 	 
	RECITALS
	 	 	1	 
	 
	 	 	 	 
	AGREEMENT
	 	 	2	 
	 
	 	 	 	 
	ARTICLE I

	 
	 	 	 	 
	DEFINITIONS AND INTERPRETATION

	 
	 	 	 	 
	SECTION 1.1. Definitions
	 	 	2	 
	SECTION 1.2. Perfection Certificate
	 	 	8	 
	 
	 	 	 	 
	ARTICLE II

	 
	 	 	 	 
	GRANT OF SECURITY AND SECURED OBLIGATIONS

	 
	 	 	 	 
	SECTION 2.1. Grant of Security Interest
	 	 	9	 
	SECTION 2.2. Filings
	 	 	10	 
	ARTICLE III

	 
	 	 	 	 
	PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES;

	USE OF PLEDGED COLLATERAL

	 
	 	 	 	 
	SECTION 3.1. Delivery of Certificated Securities Collateral
	 	 	10	 
	SECTION 3.2. Perfection of Uncertificated Securities Collateral
	 	 	11	 
	SECTION 3.3. Financing Statements and Other Filings; Maintenance of
	 	 	11	 
	Perfected Security Interest
	 	 	 	 
	SECTION 3.4. Other Actions
	 	 	11	 
	SECTION 3.5. Joinder of Additional Guarantors
	 	 	13	 
	SECTION 3.6. Supplements; Further Assurances
	 	 	13	 
	SECTION 3.7. Government Contracts
	 	 	14	 
	 
	 	 	 	 
	ARTICLE IV

	 
	 	 	 	 
	REPRESENTATIONS, WARRANTIES AND COVENANTS

	 
	 	 	 	 
	SECTION 4.1. Title
	 	 	14	 
	SECTION 4.2. Validity of Security Interest
	 	 	15	 
	SECTION 4.3. Defense of Claims; Transferability of Pledged Collateral
	 	 	15	 
	SECTION 4.4. Other Financing Statements
	 	 	15	 
	SECTION 4.5. Location of Inventory and Equipment
	 	 	15	 
	SECTION 4.6. Due Authorization and Issuance
	 	 	15	 

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	 	 	Page	 
	SECTION 4.7. Consents, etc.
	 	 	16	 
	SECTION 4.8. [Reserved]
	 	 	16	 
	SECTION 4.9. Insurance
	 	 	16	 
	 
	 	 	 	 
	ARTICLE V

	 
	 	 	 	 
	CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL

	 
	 	 	 	 
	SECTION 5.1. Pledge of Additional Securities Collateral
	 	 	16	 
	SECTION 5.2. Voting Rights; Distributions; etc.
	 	 	16	 
	SECTION 5.3. [Reserved]
	 	 	17	 
	SECTION 5.4. Certain Agreements of Pledgors As Issuers and Holders of Equity Interests
	 	 	17	 
	 
	 	 	 	 
	ARTICLE VI

	 
	 	 	 	 
	CERTAIN PROVISIONS CONCERNING INTELLECTUAL

	PROPERTY COLLATERAL

	 
	 	 	 	 
	SECTION 6.1. Grant of Intellectual Property License
	 	 	18	 
	SECTION 6.2. Protection of Collateral Agent’s Security
	 	 	18	 
	SECTION 6.3. After-Acquired Property
	 	 	19	 
	SECTION 6.4. Litigation
	 	 	19	 
	 
	 	 	 	 
	ARTICLE VII

	 
	 	 	 	 
	CERTAIN PROVISIONS CONCERNING RECEIVABLES

	 
	 	 	 	 
	SECTION 7.1. Maintenance of Records
	 	 	20	 
	SECTION 7.2. Legend
	 	 	20	 
	 
	 	 	 	 
	ARTICLE VIII

	 
	 	 	 	 
	TRANSFERS

	 
	 	 	 	 
	SECTION 8.1. Transfers of Pledged Collateral
	 	 	20	 
	 
	 	 	 	 
	ARTICLE IX

	 
	 	 	 	 
	REMEDIES

	 
	 	 	 	 
	SECTION 9.1. Remedies
	 	 	20	 
	SECTION 9.2. Notice of Sale
	 	 	22	 
	SECTION 9.3. Waiver of Notice and Claims
	 	 	22	 
	SECTION 9.4. Certain Sales of Pledged Collateral
	 	 	22	 
	SECTION 9.5. No Waiver; Cumulative Remedies
	 	 	24	 
	SECTION 9.6. Certain Additional Actions Regarding Intellectual Property
	 	 	24	 

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	 	 	Page	 
	ARTICLE X

	 
	 	 	 	 
	APPLICATION OF PROCEEDS

	 
	 	 	 	 
	SECTION 10.1. Application of Proceeds
	 	 	24	 
	 
	 	 	 	 
	ARTICLE XI

	 
	 	 	 	 
	MISCELLANEOUS

	 
	 	 	 	 
	SECTION 11.1. Concerning Collateral Agent
	 	 	25	 
	SECTION 11.2. Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact
	 	 	26	 
	SECTION 11.3. Continuing Security Interest; Assignment
	 	 	26	 
	SECTION 11.4. Termination; Release
	 	 	27	 
	SECTION 11.5. Modification in Writing
	 	 	27	 
	SECTION 11.6. Notices
	 	 	27	 
	SECTION 11.7. Governing Law, Consent to Jurisdiction and Service of Process; Waiver of Jury Trial
	 	 	28	 
	SECTION 11.8. Severability of Provisions
	 	 	28	 
	SECTION 11.9. Execution in Counterparts
	 	 	28	 
	SECTION 11.10. Business Days
	 	 	28	 
	SECTION 11.11. No Credit for Payment of Taxes or Imposition
	 	 	28	 
	SECTION 11.12. No Claims Against Collateral Agent
	 	 	28	 
	SECTION 11.13. No Release
	 	 	28	 
	SECTION 11.14. Obligations Absolute
	 	 	29	 
	 
	 	 	 	 
	SIGNATURES
	 	 	S-1	 
	 
	 	 	 	 
	EXHIBIT 1 Form of Joinder Agreement
	 	 	 	 
	EXHIBIT 2 Form of Control Agreement Concerning Securities Accounts
	 	 	 	 
	EXHIBIT 3 Form of Control Agreement Concerning Deposit Accounts
	 	 	 	 
	EXHIBIT 4 Form of Copyright Security Agreement
	 	 	 	 
	EXHIBIT 5 Form of Patent Security Agreement
	 	 	 	 
	EXHIBIT 6 Form of Trademark Security Agreement
	 	 	 	 

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SECURITY AGREEMENT

          This SECURITY AGREEMENT dated as of May 18, 2007 (as amended, amended and restated,
supplemented or otherwise modified from time to time in accordance with the provisions hereof, this
“Agreement”) made by BearingPoint, Inc., a Delaware corporation (“Parent”),
BearingPoint, LLC, a Delaware limited liability company (together with Parent, the
“Borrowers”), and the Guarantors from to time to time party hereto (the
“Guarantors”), as pledgors, assignors and debtors (the Borrowers, together with the
Guarantors, in such capacities and together with any successors in such capacities, the
“Pledgors,” and each, a “Pledgor”), in favor of UBS AG, STAMFORD BRANCH, in its
capacity as collateral agent pursuant to the Credit Agreement (as hereinafter defined), as pledgee,
assignee and secured party (in such capacities and together with any successors in such capacities,
the “Collateral Agent”).

R E C I T A L S :

          A. The Borrowers, the Guarantors, the Collateral Agent and the lending institutions listed
therein have, in connection with the execution and delivery of this Agreement, entered into that
certain credit agreement, dated as of May 18, 2007 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”; which term shall also
include and refer to any increase in the amount of indebtedness under the Credit Agreement and any
refinancing or replacement of the Credit Agreement (whether under a bank facility, securities
offering or otherwise) or one or more successor or replacement facilities whether or not with a
different group of agents or lenders (whether under a bank facility, securities offering or
otherwise) and whether or not with different obligors upon the Administrative Agent’s
acknowledgment of the termination of the predecessor Credit Agreement).

          B. Each Guarantor has, pursuant to the Credit Agreement, unconditionally guaranteed the
Secured Obligations.

          C. The Borrowers and each Guarantor will receive substantial benefits from the execution,
delivery and performance of the obligations under the Credit Agreement and the other Loan Documents
and each is, therefore, willing to enter into this Agreement.

          D. This Agreement is given by each Pledgor in favor of the Collateral Agent for the benefit of
the Secured Parties (as hereinafter defined) to secure the payment and performance of all of the
Secured Obligations.

          E. It is a condition to (i) the obligations of the Lenders to make the Loans under the Credit
Agreement, and (ii) the obligations of the Issuing Bank to issue Letters of Credit that each
Pledgor execute and deliver the applicable Loan Documents, including this Agreement.

A G R E E M E N T :

          NOW THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each Pledgor and the
Collateral Agent hereby agree as follows:

 

 

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ARTICLE I

DEFINITIONS AND INTERPRETATION

          SECTION 1.1. Definitions.

          (a) Unless otherwise defined herein or in the Credit Agreement, capitalized terms used herein
that are defined in the UCC shall have the meanings assigned to them in the UCC; provided
that in any event, the following terms shall have the meanings assigned to them in the UCC:

          “Accounts”; “Bank”; “Chattel Paper”; “Commercial Tort Claim”;
“Commodity Account”; “Commodity Contract”; “Commodity Intermediary”;
“Documents”; “Electronic Chattel Paper”; “Entitlement Order”;
“Equipment”; “Financial Asset”; “Fixtures”; “Goods”,
“Inventory”; “Letter of Credit Rights”; “Letters of Credit”;
“Money”; “Payment Intangibles”; “Proceeds”; “ Records”;
“Securities Account”; “Securities Intermediary”; “Security Entitlement”;
“Supporting Obligations”; and “Tangible Chattel Paper.”

          (b) Terms used but not otherwise defined herein that are defined in the Credit Agreement shall
have the meanings given to them in the Credit Agreement. Sections 1.03 and 1.05 of the Credit
Agreement shall apply herein mutatis mutandis.

          (c) The following terms shall have the following meanings:

          “Account Debtor” shall mean each person who is obligated on a Receivable or Supporting
Obligation related thereto.

          “Agreement” shall have the meaning assigned to such term in the Preamble hereof.

          “Assignment of Claims Act” shall mean the Assignment of Claims Act of 1940 (41 U.S.C.
Section 15, 31 U.S.C. Section 3737, and 31 U.S.C. Section 3727), including all amendments thereto
and regulations promulgated thereunder.

          “Borrowers” shall have the meaning assigned to such term in the Preamble hereof.

          “Collateral Agent” shall have the meaning assigned to such term in the Preamble
hereof.

          “Collateral Support” shall mean all property (real or personal) assigned, hypothecated
or otherwise securing any Pledged Collateral and shall include any security agreement or other
agreement granting a lien or security interest in such real or personal property.

          “Contracts” shall mean, collectively, with respect to each Pledgor, all sale, service,
performance, equipment or property lease contracts, agreements and grants and all other contracts,
agreements or grants (in each case, whether written or oral, or third party or intercompany),
between such Pledgor and any third party, and all assignments, amendments, restatements,
supplements, extensions, renewals, replacements or modifications thereof.

 

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          “Control” shall mean (i) in the case of each Deposit Account, “control,” as such term
is defined in Section 9-104 of the UCC, (ii) in the case of any Security Entitlement, “control,” as
such term is defined in Section 8-106 of the UCC, and (iii) in the case of any Commodity Contract,
“control,” as such term is defined in Section 9-106 of the UCC.

          “Control Agreements” shall mean, collectively, the Deposit Account Control Agreement
and the Securities Account Control Agreement.

          “Copyrights” shall mean, collectively, with respect to each Pledgor, all copyrights
(whether statutory or common law, whether established or registered in the United States or any
other country or any political subdivision thereof, whether registered or unregistered and whether
published or unpublished) and all copyright registrations and applications made by such Pledgor, in
each case, whether now owned or hereafter created or acquired by or assigned to such Pledgor,
together with any and all (i) rights and privileges arising under applicable law with respect to
such Pledgor’s use of such copyrights, (ii) reissues, renewals, continuations and extensions
thereof and amendments thereto, (iii) income, fees, royalties, damages, claims and payments now or
hereafter due and/or payable with respect thereto, including damages and payments for past, present
or future infringements thereof, (iv) rights corresponding thereto throughout the world and (v)
rights to sue for past, present or future infringements thereof.

          “Copyright Security Agreement” shall mean an agreement substantially in the form of
Exhibit 4 hereto.

          “Credit Agreement” shall have the meaning assigned to such term in Recital A
hereof.

          “Deposit Account Control Agreement” shall mean an agreement substantially in the form
of Exhibit 3 hereto or such other form that is reasonably satisfactory to the Collateral
Agent establishing the Collateral Agent’s Control with respect to any Deposit Account.

          “Deposit Accounts” shall mean, collectively, with respect to each Pledgor, (i) all
“deposit accounts” as such term is defined in the UCC held by a Pledgor and located in the United
States and in any event shall include all accounts and sub-accounts relating to any of the
foregoing accounts and (ii) all cash, funds and checks from time to time on deposit in any of the
accounts or sub-accounts described in clause (i) of this definition.

          “Distributions” shall mean, collectively, with respect to each Pledgor, all dividends,
cash, options, warrants, rights, instruments, distributions, returns of capital or principal,
income, interest, profits and other property, interests (debt or equity) or proceeds, including as
a result of a split, revision, reclassification or other like change of the Pledged Securities,
from time to time received, receivable or otherwise distributed to such Pledgor in respect of or in
exchange for any or all of the Pledged Securities or Intercompany Notes.

          “Excluded Accounts” shall mean, (i) Specified Accounts, (ii) accounts containing
balances of less than $300,000 at any time, and (iii) segregated Deposit Accounts the balance of
which consists exclusively of amounts subject to Permitted Liens incurred in the ordinary course of
business and not for borrowed money.

 

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          “Excluded Property” shall mean

     (a) any permit or license issued by a Governmental Authority to any Pledgor or any
General Intangible, contract or agreement, in each case, only to the extent and for so long
as the terms of such permit, license General Intangible, contract or agreement or any
Requirement of Law applicable thereto, validly prohibit the creation by such Pledgor of a
security interest in such permit, license or agreement in favor of the Collateral Agent
(after giving effect to Sections 9-406(d), 9-407(a), 9-408(a) or 9-409 of the UCC (or any
successor provision or provisions) or any other applicable law (including the Bankruptcy
Code) or principles of equity);

     (b) Equipment owned by any Pledgor on the date hereof or hereafter acquired that is
subject to a Lien securing a Purchase Money Obligation or Capital Lease Obligation permitted
to be incurred pursuant to the provisions of the Credit Agreement if the contract or other
agreement in which such Lien is granted (or the documentation providing for such Purchase
Money Obligation or Capital Lease Obligation) validly prohibits the creation of any other
Lien on such Equipment;

     (c) any intent-to-use trademark application to the extent and for so long as creation
by a Pledgor of a security interest therein would result in the loss by such Pledgor of any
material rights therein;

     (d) motor vehicles the perfection of a security interest in which is excluded from the
Uniform Commercial Code in the relevant jurisdiction;

     (e) voting Equity Interests in any Excluded Foreign Company to the extent (but only to
the extent) required to prevent the Collateral from including more than 65% of all voting
Equity Interests in such Excluded Foreign Company;

     (f) Equipment leased by a Pledgor from a third party that is not a Pledgor under a
lease permitted by the Credit Agreement that prohibits the granting of a Lien on such
equipment;

     (g) timber to be cut, as extracted collateral and agricultural products;

     (h) Specified Accounts; and

     (i) Equity Interests in Subsidiaries held by Pledgors on the Closing Date and shown as
not being pledged on Schedule 8 to the Perfection Certificate;

provided, however, that Excluded Property shall not include any Proceeds,
substitutions or replacements of any Excluded Property referred to in clause (a) through (i) above
(unless such Proceeds, substitutions or replacements would constitute Excluded Property referred to
in clause (a) through (i) above).

     “General Intangibles” shall mean, collectively, with respect to each Pledgor, all
“general intangibles,” as such term is defined in the UCC, of such Pledgor and, in any event, shall
include (i) all of such Pledgor’s rights, title and interest in, to and under all Contracts and
insurance policies (including all rights and remedies relating to monetary damages, including
indemnification rights and remedies, and claims for damages or other relief pursuant to or in
respect of any Contract), (ii) all know-how and warranties relating to any of the Pledged
Collateral, (iii) any and all other rights, claims, choses-in-action and causes

 

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of action of such Pledgor against any other person and the benefits of any and all collateral or
other security given by any other person in connection therewith, (iv) all guarantees, endorsements
and indemnifications on, or of, any of the Pledged Collateral, (v) all lists, books, records,
correspondence, ledgers, printouts, files (whether in printed form or stored electronically), tapes
and other papers or materials containing information relating to any of the Pledged Collateral,
including all customer or tenant lists, identification of suppliers, data, plans, blueprints,
specifications, designs, drawings, appraisals, recorded knowledge, surveys, studies, engineering
reports, test reports, manuals, standards, processing standards, performance standards, catalogs,
research data, computer and automatic machinery software and programs and the like, field repair
data, accounting information pertaining to such Pledgor’s operations or any of the Pledged
Collateral and all media in which or on which any of the information or knowledge or data or
records may be recorded or stored and all computer programs used for the compilation or printout of
such information, knowledge, records or data, (vi) all licenses, consents, permits, variances,
certifications, authorizations and approvals, however characterized, now or hereafter acquired or
held by such Pledgor, including building permits, certificates of occupancy, environmental
certificates, industrial permits or licenses and certificates of operation and (vii) all rights to
reserves, deferred payments, deposits, refunds, indemnification of claims and claims for tax or
other refunds against any Governmental Authority.

          “Goodwill” shall mean, collectively, with respect to each Pledgor, the goodwill
connected with such Pledgor’s business, including all goodwill connected with (i) the use of and
symbolized by any Trademark or Intellectual Property License with respect to any Trademark in which
such Pledgor has any interest, (ii) all know-how, trade secrets, customer and supplier lists,
proprietary information, inventions, methods, procedures, formulae, descriptions, compositions,
technical data, drawings, specifications, name plates, catalogs, confidential information and the
right to limit the use or disclosure thereof by any person, pricing and cost information, business
and marketing plans and proposals, consulting agreements, engineering contracts and such other
assets which relate to such goodwill and (iii) all product lines of such Pledgor’s business.

          “Government Contract” shall mean a contract between any Pledgor and an agency,
department or instrumentality of the United States or any state, municipal or local Governmental
Authority located in the United States and all obligations of any such Governmental Authority
arising under any Account now or hereafter owing by any such Governmental Authority, as account
debtor, to any Pledgor.

          “Guarantors” shall have the meaning assigned to such term in the Preamble hereof.

          “Instruments” shall mean, collectively, with respect to each Pledgor, all
“instruments,” as such term is defined in Article 9, rather than Article 3, of the UCC.

          “Intellectual Property Collateral” shall mean, collectively, the Patents, Trademarks,
Copyrights, Intellectual Property Licenses and Goodwill.

          “Intellectual Property Licenses” shall mean, collectively, with respect to each
Pledgor, all license and distribution agreements with, and covenants not to sue, any other party
with respect to any Patent, Trademark or Copyright or any other patent, trademark or copyright,
whether such Pledgor is a licensor or licensee, distributor or distributee under any such license
or distribution agreement, together with any and all (i) renewals, extensions, supplements and
continuations thereof, (ii) income, fees, royalties, damages, claims and payments now and hereafter
due and/or payable thereunder and with respect thereto including damages and payments for past,
present or future infringements or violations thereof, (iii) rights to sue for past, present and
future infringements or violations thereof and (iv) other rights to

 

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use, exploit or practice any or all of the Patents, Trademarks or Copyrights or any other
patent, trademark or copyright.

          “Intercompany Notes” shall mean, with respect to each Pledgor, all intercompany notes
described in Schedule 9 to the Perfection Certificate and intercompany notes hereafter
acquired by such Pledgor and all certificates, instruments or agreements evidencing such
intercompany notes, and all assignments, amendments, restatements, supplements, extensions,
renewals, replacements or modifications thereof to the extent permitted pursuant to the terms
hereof.

          “Investment Property” shall mean a security, whether certificated or uncertificated,
Security Entitlement, Securities Account, Commodity Contract or Commodity Account, excluding,
however, the Securities Collateral.

          “Joinder Agreement” shall mean an agreement substantially in the form of Exhibit
1 hereto.

          “Material Intellectual Property Collateral” shall mean any Intellectual Property
Collateral that is material (i) to the use and operation of the Pledged Collateral or (ii) to the
business, results of operations, prospects or condition, financial or otherwise, of any Pledgor.

          “Parent” shall have the meaning assigned to such term in the Preamble hereof.

          “Patents” shall mean, collectively, with respect to each Pledgor, all patents issued
or assigned to, and all patent applications and registrations made by, such Pledgor (whether
established or registered or recorded in the United States or any other country or any political
subdivision thereof), together with any and all (i) rights and privileges arising under applicable
law with respect to such Pledgor’s use of any patents, (ii) inventions and improvements described
and claimed therein, (iii) reissues, divisions, continuations, renewals, extensions and
continuations-in-part thereof and amendments thereto, (iv) income, fees, royalties, damages, claims
and payments now or hereafter due and/or payable thereunder and with respect thereto including
damages and payments for past, present or future infringements thereof, (v) rights corresponding
thereto throughout the world and (vi) rights to sue for past, present or future infringements
thereof.

          “Patent Security Agreement” shall mean an agreement substantially in the form of
Exhibit 5 hereto.

          “Perfection Certificate” shall mean that certain perfection certificate dated May 18,
2007 executed and delivered by each Pledgor in favor of the Collateral Agent for the benefit of
the Secured Parties, and each other Perfection Certificate executed and delivered by the applicable
Guarantor in favor of the Collateral Agent for the benefit of the Secured Parties contemporaneously
with the execution and delivery of each Joinder Agreement executed in accordance with Section
3.5 hereof, in each case, as the same may be amended, amended and restated, supplemented or
otherwise modified from time to time in accordance with the Credit Agreement or upon the request of
the Collateral Agent.

          “Pledged Collateral” shall have the meaning assigned to such term in Section
2.1 hereof.

          “Pledged Securities” shall mean, collectively, with respect to each Pledgor, (i) all
issued and outstanding Equity Interests of each issuer set forth on Schedule 8 to the
Perfection Certificate as

 

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being owned by such Pledgor and all options, warrants, rights, agreements and additional Equity
Interests of whatever class of any such issuer acquired by such Pledgor (including by issuance),
together with all rights, privileges, authority and powers of such Pledgor relating to such Equity
Interests in each such issuer or under any Organizational Document of each such issuer, and the
certificates, instruments and agreements representing such Equity Interests and any and all
interest of such Pledgor in the entries on the books of any financial intermediary pertaining to
such Equity Interests, (ii) all Equity Interests of any Subsidiary of Parent, which Equity
Interests are hereafter acquired by such Pledgor (including by issuance) and all options, warrants,
rights, agreements and additional Equity Interests of whatever class of any such issuer acquired by
such Pledgor (including by issuance), together with all rights, privileges, authority and powers of
such Pledgor relating to such Equity Interests or under any Organizational Document of any such
issuer, and the certificates, instruments and agreements representing such Equity Interests and any
and all interest of such Pledgor in the entries on the books of any financial intermediary
pertaining to such Equity Interests, from time to time acquired by such Pledgor in any manner, and
(iii) all Equity Interests issued in respect of the Equity Interests referred to in clause (i) or
(ii) upon any consolidation or merger of any issuer of such Equity Interests; provided,
however, that Pledged Securities shall not include any Equity Interests which are not
required to be pledged pursuant to Section 5.10(b) of the Credit Agreement.

          “Pledgor” shall have the meaning assigned to such term in the Preamble hereof.

          “Receivables” shall mean all (i) Accounts, (ii) Chattel Paper, (iii) Payment
Intangibles, (iv) General Intangibles, (v) Instruments and (vi) all other rights to payment,
whether or not earned by performance, for goods or other property sold, leased, licensed, assigned
or otherwise disposed of, or services rendered or to be rendered, regardless of how classified
under the UCC together with all of Pledgors’ rights, if any, in any goods or other property giving
rise to such right to payment and all Collateral Support and Supporting Obligations related thereto
and all Records relating thereto.

          “Secured Parties” shall mean, collectively, the Administrative Agent, the Collateral
Agent, each other Agent, the Lenders and each party to a Hedging Agreement or a Treasury Services
Agreement if at the date of entering into such Hedging Agreement or Treasury Services Agreement
such person was a Lender or an Affiliate of a Lender and such person executes and delivers to the
Administrative Agent a letter agreement in form and substance acceptable to the Administrative
Agent pursuant to which such person (i) appoints the Collateral Agent as its agent under the
applicable Loan Documents and (ii) agrees to be bound by the provisions of Sections 10.03 and 10.09
of the Credit Agreement.

          “Securities Account Control Agreement” shall mean an agreement substantially in the
form of Exhibit 2 hereto or such other form that is reasonably satisfactory to the
Collateral Agent establishing the Collateral Agent’s Control with respect to any Securities
Account.

          “Securities Collateral” shall mean, collectively, the Pledged Securities and the
Intercompany Notes.

          “Specified Accounts” shall mean, (i) the Deposit Account #323-237509 maintained with
JPMorgan Chase Bank, N.A., or any other deposit account used for a similar purpose under the
Borrowers’ and their Subsidiaries’ contract with the State of Texas to which such Deposit Account
relates or under any other similar contract with the State of Texas or any other counterparty
(other than another Pledgor or its Subsidiary), in each case so long as such Deposit Account is
jointly owned with the State of Texas or any other counterparty of such contract (other than
another Pledgor or its Subsidiary),

 

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(ii) Deposit Accounts the balance of which consists exclusively of (A) withheld income taxes and
federal, state or local employment taxes in such amounts as are required in the reasonable judgment
of the Borrowers to be paid to the Internal Revenue Service or state or local government agencies
within the following month with respect to employees of any of the Loan Parties and (B) amounts
required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec. 2510.3-102 on behalf
of or for the benefit of employees of one or more Loan Parties, (iii) all segregated Deposit
Accounts constituting (and the balance of which consists solely of funds set aside in connection
with) payroll accounts and trust or other fiduciary accounts, (iv) segregated Deposit Accounts the
balance of which consists exclusively of amounts subject to Permitted Liens incurred in the
ordinary course of business and not for borrowed money if the contract or other agreement in which
such Permitted Lien is granted (or the applicable Requirement of Law) validly prohibits the
creation of any other Lien on such Deposit Account and (v) Deposit Accounts holding exclusively
contributions of employees of the Borrowers and their Subsidiaries to any employee stock purchase
plan.

          “Trademarks” shall mean, collectively, with respect to each Pledgor, all trademarks
(including service marks), slogans, logos, certification marks, trade dress, uniform resource
locations (URL’s), domain names, corporate names and trade names, whether registered or
unregistered, owned by or assigned to such Pledgor and all registrations and applications for the
foregoing (whether statutory or common law and whether established or registered in the United
States or any other country or any political subdivision thereof), together with any and all (i)
rights and privileges arising under applicable law with respect to such Pledgor’s use of any
trademarks, (ii) reissues, continuations, extensions and renewals thereof and amendments thereto,
(iii) income, fees, royalties, damages and payments now and hereafter due and/or payable thereunder
and with respect thereto, including damages, claims and payments for past, present or future
infringements thereof, (iv) rights corresponding thereto throughout the world and (v) rights to sue
for past, present and future infringements thereof.

          “Trademark Security Agreement” shall mean an agreement substantially in the form of
Exhibit 6 hereto.

          “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the
State of New York; provided, however, that, at any time, if by reason of mandatory
provisions of law, any or all of the perfection or priority of the Collateral Agent’s and the
Secured Parties’ security interest in any item or portion of the Pledged Collateral is governed by
the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the
term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other
jurisdiction for purposes of the provisions hereof relating to such perfection or priority and for
purposes of definitions relating to such provisions.

          SECTION 1.2. Perfection Certificate. The Collateral Agent and each Secured Party agree that the
Perfection Certificate and all descriptions of Pledged Collateral, schedules, amendments and
supplements thereto are and shall at all times remain a part of this Agreement.

 

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ARTICLE II

GRANT OF SECURITY AND SECURED OBLIGATIONS

          SECTION 2.1. Grant of Security Interest. As collateral security for the payment and performance in
full of all the Secured Obligations, each Pledgor hereby pledges and grants to the Collateral Agent
for the benefit of the Secured Parties, a lien on and security interest in all of the right, title
and interest of such Pledgor in, to and under the following property, wherever located, and whether
now existing or hereafter arising or acquired from time to time (collectively, the “Pledged
Collateral”):

	 	(i)	 	all Accounts;
	 
	 	(ii)	 	all Equipment, Goods, Inventory and Fixtures;
	 
	 	(iii)	 	all Documents, Instruments and Chattel Paper;
	 
	 	(iv)	 	all Letters of Credit and Letter of Credit Rights;
	 
	 	(v)	 	all Securities Collateral;
	 
	 	(vi)	 	all Investment Property;
	 
	 	(vii)	 	all Intellectual Property Collateral;
	 
	 	(viii)	 	the Commercial Tort Claims described on Schedule 11 to the
Perfection Certificate;
	 
	 	(ix)	 	all General Intangibles;
	 
	 	(x)	 	all Money and all Deposit Accounts;
	 
	 	(xi)	 	all Supporting Obligations;
	 
	 	(xii)	 	all books and records relating to the Pledged Collateral;
and
	 
	 	(xiii)	 	all Proceeds and products of each of the foregoing and all accessions to
and rents, profits and products of, each of the foregoing.

          Notwithstanding anything to the contrary contained in clauses (i) through (xii) above, the
security interest created by this Agreement shall not extend to, and the term “Pledged Collateral”
shall not include, any Excluded Property and (i) the Pledgors shall from time to time at the
request of the Collateral Agent give written notice to the Collateral Agent identifying in
reasonable detail the Excluded Property and shall provide to the Collateral Agent such other
information regarding the Excluded Property as the Collateral Agent may reasonably request and (ii)
from and after the Closing Date, no Pledgor shall permit to become effective in any document
creating, governing or providing for any permit, license or agreement a provision that would prohibit the creation of a Lien on such permit, license or
agreement in favor

 

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of the Collateral Agent unless such Pledgor believes, in its reasonable
judgment, that such prohibition is usual and customary in transactions of such type.

          SECTION 2.2. Filings. (a) Each Pledgor hereby irrevocably authorizes the Collateral Agent at any
time and from time to time to file in any relevant jurisdiction in the United States any financing
statements (other than fixture filings and other filings that are required to be made in any real
estate recording office) and amendments thereto that contain the information required by Article 9
of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing
statement or amendment relating to the Pledged Collateral, including (i) whether such Pledgor is an
organization, the type of organization and any organizational identification number issued to such
Pledgor and (ii) any financing or continuation statements or other documents without the signature
of such Pledgor where permitted by law, including the filing of a financing statement describing
the Pledged Collateral as “all assets now owned or hereafter acquired by the Pledgor or in which
Pledgor otherwise has rights”. Each Pledgor agrees to provide all information described in the
immediately preceding sentence to the Collateral Agent promptly upon request by the Collateral
Agent.

          (b) Each Pledgor hereby ratifies its authorization for the Collateral Agent to file in any
relevant jurisdiction any financing statements relating to the Pledged Collateral if filed prior to
the date hereof.

          (c) Each Pledgor hereby further authorizes the Collateral Agent to file filings with the
United States Patent and Trademark Office or United States Copyright Office (or any successor
office or any similar office in any other country), including this Agreement, the Copyright
Security Agreement, the Patent Security Agreement and the Trademark Security Agreement, or other
documents for the purpose of perfecting, confirming, continuing, enforcing or protecting the
security interest granted by such Pledgor hereunder in any applications for or registrations of
Copyrights registered with the United States Copyright Office, any applications for or
registrations of Trademarks registered with the United States Patent and Trademark Office or any
Patents applied for or issued by the United States Patent and Trademark Office, and naming such
Pledgor, as debtor, and the Collateral Agent, as secured party.

ARTICLE III

PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES;

USE OF PLEDGED COLLATERAL

          SECTION 3.1. Delivery of Certificated Securities Collateral. Each Pledgor represents and warrants
that all certificates or instruments representing or evidencing the Pledged Securities in existence
on the date hereof that constitute “certificated securities” (within the meaning of the UCC) have
been delivered to the Collateral Agent in suitable form for transfer by delivery or accompanied by
duly executed instruments of transfer or assignment in blank and that the Collateral Agent has a
perfected first priority security interest therein. Each Pledgor hereby agrees that all
certificates representing or evidencing Pledged Securities acquired by such Pledgor after the date
hereof that constitute “certificated securities” (within the meaning of the UCC) shall promptly (but
in any event within five days after receipt thereof by such Pledgor) be delivered to and held by or
on behalf of the Collateral Agent pursuant hereto. All such certificates evidencing Pledged
Securities that constitute “certificated securities” (within the meaning of the UCC) shall be in
suitable form for transfer by delivery or shall be accompanied by duly

 

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executed instruments of
transfer or assignment in blank, all in form and substance reasonably satisfactory to the
Collateral Agent. The Collateral Agent shall have the right, at any time upon the occurrence and
during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to
register in the name of the Collateral Agent or any of its nominees or endorse for negotiation any
or all of the Pledged Securities, without any indication that such Pledged Securities are subject
to the security interest hereunder. In addition, upon the occurrence and during the continuance of
an Event of Default, the Collateral Agent shall have the right at any time to exchange certificates
representing or evidencing Pledged Securities for certificates of smaller or larger denominations.
Notwithstanding anything herein to the contrary, no Pledgor shall be required to deliver (i)
certificates evidencing Pledged Securities of any person that is not a Subsidiary of such Pledgor
or (ii) Intercompany Notes.

          SECTION 3.2. Perfection of Uncertificated Securities Collateral. Each Pledgor represents and
warrants that the Collateral Agent has a perfected first priority security interest in all Pledged
Securities pledged by it hereunder that are in existence on the date hereof that constitute
“uncertificated securities” (within the meaning of the UCC). Each Pledgor hereby agrees that if
any of the Pledged Securities owned by it that are issued by any Subsidiary of Parent constitute
“uncertificated securities” (within the meaning of the UCC), then such Pledgor shall, to the extent
permitted by applicable law, if necessary or desirable to perfect a security interest in such
Pledged Securities, (i) cause such pledge to be recorded on the equityholder register or the books
of the issuer, execute any customary pledge forms or other documents necessary or appropriate to
complete the pledge and give the Collateral Agent the right to transfer such Pledged Securities
under the terms hereof and (ii) upon request by the Collateral Agent, provide to the Collateral
Agent an opinion of counsel, in form and substance reasonably satisfactory to the Collateral Agent,
confirming such pledge and perfection thereof.

          SECTION 3.3. Financing Statements and Other Filings; Maintenance of Perfected Security Interest.
Each Pledgor represents and warrants that all UCC financing statements necessary to perfect the
security interest granted by it to the Collateral Agent in respect of the Pledged Collateral, to
the extent that such perfection may be effected by the filing of UCC financing statements have been
delivered to the Collateral Agent in completed and, to the extent necessary or appropriate, duly
executed form for filing in each governmental, municipal or other office specified in Schedule
5 to the Perfection Certificate. Each Pledgor agrees that, at the sole cost and expense of the
Pledgors, such Pledgor will, except to the extent that such security interest shall be released
pursuant to the terms of the Loan Documents, maintain the security interest created by this
Agreement in the Pledged Collateral as a perfected first priority security interest subject only to
Permitted Liens.

          SECTION 3.4. Other Actions. In order to further ensure the attachment, perfection and priority of,
and the ability of the Collateral Agent to enforce, the Collateral Agent’s security interest in the
Pledged Collateral, each Pledgor represents and warrants (as to itself) as follows and agrees, in
each case at such Pledgor’s own expense, to take the following actions with respect to the
following Pledged Collateral:

     (a) Instruments and Tangible Chattel Paper. Each Instrument (other than any
Instrument representing Barents Group Loans, any Intercompany Note and any other Instruments
with an aggregate value not in excess of $5,000,000) pledged pursuant to this Agreement has
been properly endorsed, assigned and delivered to the Collateral Agent, accompanied by
instruments of transfer or assignment duly executed in blank. If any amount then payable
under or in connection with any of the Pledged Collateral shall be evidenced by any
Instrument

 

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or Tangible Chattel Paper, and such amount, together with all amounts payable
evidenced by any Instrument or Tangible Chattel Paper (other than any Instruments
representing Barents Group Loans and any Intercompany Notes) not previously delivered to the
Collateral Agent exceeds $5,000,000 in the aggregate for all Pledgors, the Pledgor acquiring
such Instrument or Tangible Chattel Paper shall promptly (but in any event within thirty
days after receipt thereof) endorse, assign and deliver the same to the Collateral Agent,
accompanied by such instruments of transfer or assignment duly executed in blank as the
Collateral Agent may from time to time specify.

     (b) Deposit Accounts. As of the date hereof, no Pledgor has any Deposit
Accounts other than the accounts listed in Schedule 12 to the Perfection
Certificate. Upon the execution and delivery by the applicable Loan Party, the applicable
Bank and the Collateral Agent of a Deposit Account Control Agreement in respect of such
Deposit Account (other than Excluded Accounts) in accordance with Section 5.14 of the Credit
Agreement, the Collateral Agent’s security interest in each such Deposit Account (other than
the Excluded Accounts) will be perfected by Control. No Pledgor shall hereafter establish
and maintain any Deposit Account (other than an Excluded Account) unless the Bank with which
such Deposit Account is maintained and such Pledgor shall have duly executed and delivered
to the Collateral Agent a Deposit Account Control Agreement with respect to such Deposit
Account. The Collateral Agent agrees with each Pledgor that the Collateral Agent shall not
give any instructions directing the disposition of funds from time to time credited to any
Deposit Account or withhold any withdrawal rights from such Pledgor with respect to funds
from time to time credited to any Deposit Account unless an Event of Default has occurred
and is continuing. The provisions of this Section 3.4(b) shall not apply to any
Deposit Accounts for which the Collateral Agent is the Bank. No Pledgor shall grant Control
of any Deposit Account (other than an Excluded Account in connection with any Permitted
Lien) to any person other than the Collateral Agent.

     (c) Securities Accounts and Commodity Accounts. (a) As of the date hereof, no
Pledgor has any Securities Accounts or Commodity Accounts containing cash or securities with
a value in excess of $500,000 at any time other than those listed in Schedule 12 to
the Perfection Certificate. Upon the execution and delivery by the applicable Loan Party,
the applicable Securities Intermediary or Commodity Intermediary and the Collateral Agent of
a Control Agreement in respect of any such Securities Account or Commodity Account in
accordance with Section 5.14 of the Credit Agreement, the Collateral Agent’s security
interest in each such Securities Account and Commodity Account will be perfected by Control.
No Pledgor shall hereafter establish and maintain any Securities Account or Commodity
Account with a value in excess of $500,000 at any time with any Securities Intermediary or
Commodity Intermediary unless such Securities Intermediary or Commodity Intermediary, as the
case may be, and such Pledgor shall have duly executed and delivered a Control Agreement
with respect to such Securities Account or Commodity Account, as the case may be. The
Collateral Agent agrees with each Pledgor that the Collateral Agent shall not give any
Entitlement Orders or instructions or directions to any issuer of uncertificated securities,
Securities Intermediary or Commodity Intermediary, and shall not withhold its consent to the
exercise of any withdrawal or dealing rights by such Pledgor, unless an
Event of Default has occurred and is continuing or, after giving effect to any such
investment and withdrawal rights, would occur. The provisions of this Section
3.4(c) shall not apply to any Financial Assets credited to a Securities Account for
which the Collateral Agent is the Securities Intermediary. No Pledgor shall grant Control
over any Investment Property to any person other than the Collateral Agent.

 

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     (d) As between the Collateral Agent and the Pledgors, the Pledgors shall bear the
investment risk with respect to any certificated Investment Property and Pledged Securities,
and the risk of loss of, damage to, or the destruction of the Investment Property and
Pledged Securities, whether in the possession of, or maintained as a Security Entitlement or
deposit by, or subject to the Control of, the Collateral Agent, a Securities Intermediary, a
Commodity Intermediary, any Pledgor or any other person.

     (e) Commercial Tort Claims. As of the date hereof, each Pledgor hereby
represents and warrants that it holds no Commercial Tort Claims for which a complaint or
counterclaim has been filed and not dismissed with a value in excess of $2,000,000 other
than those listed in Schedule 11 to the Perfection Certificate. If any Pledgor
shall at any time hold or acquire a Commercial Tort Claim in an amount in excess of
$2,000,000 for which a complaint or counterclaim has been filed and not dismissed, such
Pledgor shall immediately notify the Collateral Agent in writing signed by such Pledgor of
the brief details thereof and grant to the Collateral Agent in such writing a security
interest therein and in the Proceeds thereof, all upon the terms of this Agreement, with
such writing to be in form and substance reasonably satisfactory to the Collateral Agent.

          SECTION 3.5. Joinder of Additional Guarantors. The Pledgors shall cause each Subsidiary of Parent
which, from time to time, after the date hereof shall be required to pledge any assets to the
Collateral Agent for the benefit of the Secured Parties pursuant to the provisions of the Credit
Agreement, to execute and deliver to the Collateral Agent (i) a Joinder Agreement substantially in
the form of Exhibit 1 hereto and (ii) a Perfection Certificate, in each case, within thirty
(30) days of the date on which it was acquired or created, upon such execution and delivery, such
Subsidiary shall constitute a “Guarantor” and a “Pledgor” for all purposes hereunder with the same
force and effect as if originally named as a Guarantor and Pledgor herein. The execution and
delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The
rights and obligations of each Pledgor hereunder shall remain in full force and effect
notwithstanding the addition of any new Guarantor and Pledgor as a party to this Agreement.

          SECTION 3.6. Supplements; Further Assurances. Except as otherwise set forth herein, each Pledgor
shall take such further actions, and execute and/or deliver to the Collateral Agent such additional
financing statements, amendments, assignments, agreements, supplements, powers and instruments, as
the Collateral Agent may in its reasonable judgment deem necessary or appropriate in order to
create, perfect, preserve and protect the security interest in the Pledged Collateral as provided
herein and the rights and interests granted to the Collateral Agent hereunder, to carry into effect
the purposes hereof or better to assure and confirm the validity, enforceability and priority of
the Collateral Agent’s security interest in the Pledged Collateral or permit the Collateral Agent
to exercise and enforce its rights, powers and remedies hereunder with respect to any Pledged
Collateral, including the filing of financing statements, continuation statements and other documents (including this Agreement) under the Uniform Commercial Code (or other similar laws) in
effect in any jurisdiction with respect to the security interest created hereby and the execution
and delivery of Control Agreements, all in form reasonably satisfactory to the Collateral Agent and
in such offices (including the United States Patent and Trademark Office and the United States
Copyright Office) wherever required by law to perfect, continue and maintain the validity,
enforceability and priority of the security interest in the Pledged Collateral as provided herein
and to preserve the other rights and interests granted to the Collateral Agent hereunder, as
against third parties, with respect to the Pledged Collateral; provided that (i) no
certificates representing securities or Equity Interests, Instruments, Chattel Paper or Documents
shall be required to be delivered except as

 

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provided in Sections 3.1 and 3.4(a)
hereof, (ii) no Control Agreements shall be required except as provided in Sections 3.4(b)
and 3.4(c) hereof, (iii) no fixture filings, or other filings in any real estate recording
office, shall be required, (iv) no Pledgor shall be required to provide Control in respect of any
collateral except as provided in Sections 3.1 , 3.4(b) and 3.4(c) hereof,
(v) no filings outside the United States shall be required to be made in respect of any
Intellectual Property Collateral, (vi) no Pledgor shall be required to enter into any agreement,
give any notice or make any filing under the Assignment of Claims Act or any similar law, rule or
regulation of any Governmental Authority except as provided in Section 3.7 hereof and (vii)
no Pledgor shall be required to deliver any Money. Without limiting the generality of the
foregoing, but subject to the proviso thereto, each Pledgor shall make, execute, endorse,
acknowledge, file or refile and/or deliver to the Collateral Agent from time to time upon
reasonable request by the Collateral Agent such lists, schedules, descriptions and designations of
the Pledged Collateral, confirmatory assignments, supplements, additional security agreements,
conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports
and other assurances or instruments as the Collateral Agent shall reasonably request. If an Event
of Default has occurred and is continuing, the Collateral Agent may institute and maintain, in its
own name or in the name of any Pledgor, such suits and proceedings as the Collateral Agent may be
advised by counsel shall be necessary or expedient to prevent any impairment of the security
interest in or the perfection thereof in the Pledged Collateral. All of the foregoing shall be at
the sole cost and expense of the Pledgors.

          SECTION 3.7. Government Contracts.

          (a) If any Event of Default shall have occurred and be continuing, upon the request of the
Administrative Agent, each Pledgor shall, with respect to the Government Contracts to which such
Pledgor is a party, promptly deliver to the Collateral Agent an assignment agreement with respect
to all or any such Government Contracts in form and substance reasonably acceptable to the
Collateral Agent duly executed by such Pledgor party to such Government Contracts in compliance
with the Assignment of Claims Act.

          (b) Each Pledgor hereby authorizes the Collateral Agent at any time upon the occurrence and
during the continuation of an Event of Default, to execute a notice of assignment in form and
substance acceptable to the Collateral Agent with respect to each such Government Contract and
deliver (i) all assignment agreements and (ii) all notices of assignment to the applicable
Governmental Authority for each such Government Contract to effect the assignment of all amounts
due under such contract to the Collateral Agent or its assignee. The Pledgors agree to use their
commercially reasonable efforts in having such notices of assignment acknowledged in writing by the
appropriate Governmental Authority.

ARTICLE IV

REPRESENTATIONS, WARRANTIES AND COVENANTS

          Each Pledgor represents, warrants and covenants as follows:

          SECTION 4.1. Title. Except for the security interest granted to the Collateral Agent for the benefit of
the Secured Parties pursuant to this Agreement and Permitted Liens, such Pledgor owns and has
rights and, as to Pledged Collateral acquired by it from time to time after the date hereof, will
own and have rights in each item of Pledged Collateral pledged by it hereunder, free and clear of
any and

 

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all Liens or claims of others. In addition, no Liens or claims exist on the Securities
Collateral, other than as permitted by Section 6.02 of the Credit Agreement.

          SECTION 4.2. Validity of Security Interest. The security interest in and Lien on the Pledged
Collateral granted to the Collateral Agent for the benefit of the Secured Parties hereunder
constitutes (a) a legal and valid security interest in all the Pledged Collateral securing the
payment and performance of the Secured Obligations, and (b) subject to the filings and other
actions required to be made on or after the date hereof pursuant to this Agreement, a perfected
security interest in all the Pledged Collateral to the extent perfection in such Pledged Collateral
is required hereunder. The security interest and Lien granted to the Collateral Agent for the
benefit of the Secured Parties pursuant to this Agreement in and on the Pledged Collateral will at
all times constitute to the extent perfection in such Pledged Collateral is required hereunder a
perfected, continuing security interest therein, prior to all other Liens on the Pledged Collateral
except for Permitted Liens.

          SECTION 4.3. Defense of Claims; Transferability of Pledged Collateral. Subject to Section 5.05 of
the Credit Agreement, each Pledgor shall, at its own cost and expense, defend title to the Pledged
Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to
the Collateral Agent and the priority thereof against all claims and demands of all persons, at its
own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or
any other Secured Party other than Permitted Liens. Except to the extent permitted under the
Credit Agreement, as of the date hereof there is no agreement, order, judgment or decree, and from
and after the date hereof no Pledgor shall enter into any agreement or take any other action, that
would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict
with such Pledgor’s obligations or the rights of the Collateral Agent hereunder.

          SECTION 4.4. Other Financing Statements. It has not filed, nor authorized any third party to file,
any valid or effective financing statement (or similar statement, instrument of registration or
public notice under the law of any jurisdiction) covering or purporting to cover any interest of
any kind in the Pledged Collateral, except such as have been filed in favor of the Collateral Agent
pursuant to this Agreement or in favor of any holder of a Permitted Lien with respect to such
Permitted Lien or financing statements or public notices relating to the termination statements
listed on Schedule 7 to the Perfection Certificate. No Pledgor shall execute or
authorize to be filed in any public office any financing statement (or similar statement,
instrument of registration or public notice under the law of any jurisdiction) relating to any
Pledged Collateral, except financing statements and other statements and instruments filed or to be
filed in respect of and covering the security interests granted by such Pledgor to the holders of
Permitted Liens.

          SECTION 4.5. [Reserved].

          SECTION 4.6. Due Authorization and Issuance. All of the Pledged Securities existing on the date
hereof that constitute capital stock of a corporation have been, and to the extent any Pledged
Securities that constitute capital stock of a corporation are hereafter issued, such Pledged
Securities will be, upon such issuance, duly authorized, validly issued, fully paid and
non-assessable. There is no amount or other obligation owing by any Pledgor to any issuer of the
Pledged Securities in exchange for or in connection with the issuance of the Pledged Securities or
any Pledgor’s status as a partner or a member of any issuer of the Pledged Securities.

 

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          SECTION 4.7. Consents, etc. In the event that the Collateral Agent desires to exercise any remedies,
voting or consensual rights or attorney-in-fact powers set forth in this Agreement and determines
it necessary to obtain any approvals or consents of any Governmental Authority or any other person
therefor, then, upon the reasonable request of the Collateral Agent, the applicable, Pledgor agrees
to use its best efforts to assist and aid the Collateral Agent to obtain as soon as practicable any
necessary approvals or consents for the exercise of any such remedies, rights and powers.

          SECTION 4.8. [Reserved]

          SECTION 4.9. Insurance. In the event that the proceeds of any insurance claim are paid to any
Pledgor after the Collateral Agent has exercised its right to foreclose after an Event of Default,
such Net Cash Proceeds shall be held in trust for the benefit of the Collateral Agent and
immediately after receipt thereof shall be paid to the Collateral Agent for application in
accordance with the Credit Agreement.

ARTICLE V

CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL

          SECTION 5.1. Pledge of Additional Securities Collateral. Each Pledgor shall, upon obtaining any
Collateral consisting of Pledged Securities or Intercompany Notes constituting “certificated
securities”, “instruments” or “uncertificated securities” (in
each case within the meaning of the UCC), accept the same in trust for the benefit of the
Collateral Agent and promptly (but in any event within fifteen days after receipt thereof) deliver
to the Collateral Agent the certificates, instruments and other documents required under
Section 3.1 and Section 3.2 hereof in respect of such additional Pledged Securities
or Intercompany Notes which are to be pledged pursuant to this Agreement.

          SECTION 5.2. Voting Rights; Distributions; etc.

          (a) So long as no Event of Default shall have occurred and be continuing:

     (i) Each Pledgor shall be entitled to exercise any and all voting and other consensual
rights pertaining to the Securities Collateral or any part thereof for any purpose not
inconsistent with the terms or purposes hereof, the Credit Agreement or any other document
evidencing the Secured Obligations.

     (ii) Each Pledgor shall be entitled to receive and retain, and to utilize free and
clear of the Lien hereof, any and all Distributions, but only if and to the extent made in
accordance with the provisions of the Credit Agreement; provided, however,
that any and all such Distributions consisting of Securities Collateral constituting
“certificated securities” or “instruments” (in each case within the meaning of the UCC)
shall be forthwith delivered to the Collateral Agent to hold as Pledged Collateral and
shall, if received by any Pledgor, be received in trust for the benefit of the Collateral
Agent, be segregated from the other property or funds of such Pledgor and be promptly (but
in any event within fifteen days after receipt thereof) delivered to the Collateral Agent as
Pledged Collateral in the same form as so received (with any necessary endorsement).

 

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          (b) So long as no Event of Default shall have occurred and be continuing, the Collateral Agent
shall be deemed without further action or formality to have granted to each Pledgor all necessary
consents relating to voting rights and shall, if necessary, upon written request of any Pledgor and
at the sole cost and expense of the Pledgors, from time to time execute and deliver (or cause to be
executed and delivered) to such Pledgor all such instruments as such Pledgor may reasonably request
in order to permit such Pledgor to exercise the voting and other rights which it is entitled to
exercise pursuant to Section 5.2(a)(i) hereof and to receive the Distributions which it is
authorized to receive and retain pursuant to Section 5.2(a)(ii) hereof.

          (c) Upon the occurrence and during the continuance of any Event of Default, upon notice from
the Collateral Agent to the Pledgors:

     (i) All rights of each Pledgor to exercise the voting and other consensual rights it
would otherwise be entitled to exercise pursuant to Section 5.2(a)(i) hereof shall
immediately cease, and all such rights shall thereupon become vested in the Collateral
Agent, which shall thereupon have the sole right to exercise such voting and other
consensual rights.

     (ii) All rights of each Pledgor to receive Distributions which it would otherwise be
authorized to receive and retain pursuant to Section 5.2(a)(ii) hereof shall
immediately cease and all such rights shall thereupon become vested in the Collateral Agent,
which shall thereupon have the sole right to receive and hold as Pledged Collateral such
Distributions.

          (d) Each Pledgor shall, at its sole cost and expense, from time to time execute and deliver to
the Collateral Agent appropriate instruments as the Collateral Agent may request in order to permit
the Collateral Agent to exercise the voting and other rights which it may be entitled to exercise
pursuant to Section 5.2(c)(i) hereof and to receive all Distributions which it may be
entitled to receive under Section 5.2(c)(ii) hereof.

          (e) All Distributions which are received by any Pledgor contrary to the provisions of
Section 5.2(a)(ii) hereof shall be received in trust for the benefit of the Collateral
Agent, shall be segregated from other funds of such Pledgor and shall immediately be paid over to
the Collateral Agent as Pledged Collateral in the same form as so received (with any necessary
endorsement).

          SECTION 5.3. [Reserved]

          SECTION 5.4. Certain Agreements of Pledgors As Issuers and Holders of Equity Interests.

          (a) In the case of each Pledgor which is an issuer of Securities Collateral, such Pledgor
agrees to be bound by the terms of this Agreement relating to the Securities Collateral issued by
it and will comply with such terms insofar as such terms are applicable to it.

          (b) If the Equity Interests of such issuer in which a security interest is granted hereunder
are “uncertificated securities” within the meaning of the UCC, such issuer agrees that it will
comply with instructions of the Collateral Agent with respect to the Equity Interests of such
issuer without further consent by the applicable Pledgor; and

 

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          (c) In the case of each Pledgor which is a partner, shareholder or member, as the case may be,
in a partnership, limited liability company or other entity, such Pledgor hereby consents to the
extent required by the applicable Organizational Document to the pledge by each other Pledgor,
pursuant to the terms hereof, of the Pledged Securities in such partnership, limited liability
company or other entity and, upon the occurrence and during the continuance of an Event of Default,
to the transfer of such Pledged Securities to the Collateral Agent or its nominee and to the
substitution of the Collateral Agent or its nominee as a substituted partner, shareholder or member
in such partnership, limited liability company or other entity with all the rights, powers and
duties of a general partner, limited partner, shareholder or member, as the case may be.

ARTICLE VI

CERTAIN PROVISIONS CONCERNING INTELLECTUAL

PROPERTY COLLATERAL

          SECTION 6.1. Grant of Intellectual Property License. For the purpose of enabling the Collateral Agent, during the continuance of an Event of
Default, to exercise rights and remedies under Article IX hereof at such time as the
Collateral Agent shall be lawfully entitled to exercise such rights and remedies, and for no other
purpose, each Pledgor hereby grants to the Collateral Agent, to the extent assignable, an
irrevocable, non-exclusive license to use, assign, license or sublicense any of the Intellectual
Property Collateral now owned or hereafter acquired by such Pledgor, wherever the same may be
located. Such license shall include access to all media in which any of the licensed items may be
recorded or stored and to all computer programs used for the compilation or printout hereof.

          SECTION 6.2. Protection of Collateral Agent’s Security. Except to the extent that the failure to
do so would not, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect, on a continuing basis, each Pledgor shall, at its sole cost and expense, (i)
promptly following its becoming aware thereof, notify the Collateral Agent of any adverse
determination in any proceeding or the institution of any proceeding in any federal, state or local
court or administrative body or in the United States Patent and Trademark Office or the United
States Copyright Office regarding any Material Intellectual Property Collateral, such Pledgor’s
right to register such Material Intellectual Property Collateral or its right to keep and maintain
such registration in full force and effect, (ii) maintain all Material Intellectual Property
Collateral as presently used and operated, (iii) not permit to lapse or become abandoned any
Material Intellectual Property Collateral, and not settle or compromise any pending or future
litigation or administrative proceeding with respect to any such Material Intellectual Property
Collateral, in either case except as shall be consistent with commercially reasonable business
judgment, (iv) upon such Pledgor obtaining knowledge thereof, promptly notify the Collateral Agent
in writing of any event which may be reasonably expected to materially and adversely affect the
value or utility of any Material Intellectual Property Collateral or the rights and remedies of the
Collateral Agent in relation thereto including a levy or threat of levy or any legal process
against any Material Intellectual Property Collateral, (v) not license any Intellectual Property
Collateral other than licenses entered into by such Pledgor in, or incidental to, the ordinary
course of business, or amend or permit the amendment of any of the licenses in a manner that
materially and adversely affects the right to receive payments thereunder, or in any manner that
would materially impair the value of any Intellectual Property Collateral or the Lien on and
security interest in the Intellectual Property Collateral created therein hereby, without the
consent of the Collateral Agent, (vi) diligently keep adequate records respecting all Intellectual
Property Collateral

 

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and (vii) furnish to the Collateral Agent from time to time upon the Collateral
Agent’s request therefor reasonably detailed statements and amended schedules further identifying
and describing the Intellectual Property Collateral and such other materials evidencing or reports
pertaining to any Intellectual Property Collateral as the Collateral Agent may from time to time
reasonably request.

          SECTION 6.3. After-Acquired Property. If any Pledgor shall at any time after the date hereof (i)
obtain any rights to any additional Intellectual Property Collateral or (ii) become entitled to the
benefit of any additional Intellectual Property Collateral or any renewal or extension thereof,
including any reissue, division, continuation, or continuation-in-part of any Intellectual Property
Collateral, or any improvement on any Intellectual Property Collateral, or if any intent-to use
trademark application is no longer subject to clause (c) of the definition of Excluded Property,
the provisions hereof shall automatically apply thereto and any such item enumerated in the
preceding clause (i) or (ii) shall automatically constitute Intellectual Property Collateral as if
such would have constituted Intellectual Property Collateral at the time of execution hereof and be
subject to the Lien and security interest created by this Agreement without further action by
any party. Each Pledgor shall, together with each Compliance Certificate delivered to the
Administrative Agent pursuant to Section 5.01(c) of the Credit Agreement, provide to the Collateral
Agent written notice of any of the foregoing that shall have occurred during the fiscal quarter, or
the last fiscal quarter of the fiscal year, to which such Compliance Certificate relates and, in
the case of any additional Intellectual Property Collateral that is applied for or registered with
the United States Copyright Office or applied for or registered with or issued by the United States
Patent and Trademark office, execute an instrument in form reasonably acceptable to the Collateral
Agent for filing in the United States Copyright Office or the United States Patent and Trademark
Office, as applicable.

     SECTION 6.4. Litigation. Unless there shall occur and be continuing any Event of Default, each
Pledgor shall have the right to commence and prosecute in its own name, as the party in interest,
for its own benefit and at the sole cost and expense of the Pledgors, such applications for
protection of the Intellectual Property Collateral and suits, proceedings or other actions to
prevent the infringement, counterfeiting, unfair competition, dilution, diminution in value or
other damage as are necessary to protect the Intellectual Property Collateral. Upon the occurrence
and during the continuance of any Event of Default, the Collateral Agent shall have the right but
shall in no way be obligated to file applications for protection of the Intellectual Property
Collateral and/or bring suit in the name of any Pledgor, the Collateral Agent or the Secured
Parties to enforce the Intellectual Property Collateral and any license thereunder. In the event
of such suit, each Pledgor shall, at the reasonable request of the Collateral Agent, do any and all
lawful acts and execute any and all documents requested by the Collateral Agent in aid of such
enforcement and the Pledgors shall promptly reimburse and indemnify the Collateral Agent for all
costs and expenses incurred by the Collateral Agent in the exercise of its rights under this
Section 6.4 in accordance with Section 10.03 of the Credit Agreement. In the event
that the Collateral Agent shall elect not to bring suit to enforce the Intellectual Property
Collateral, each Pledgor agrees, at the reasonable request of the Collateral Agent, to take all
commercially reasonable actions necessary, whether by suit, proceeding or other action, to prevent
the infringement, counterfeiting, unfair competition, dilution, diminution in value of or other
damage to any of the Intellectual Property Collateral by any person.

 

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ARTICLE VII

CERTAIN PROVISIONS CONCERNING RECEIVABLES

          SECTION 7.1. Maintenance of Records. Each Pledgor shall, at such Pledgor’s sole cost and expense,
upon the Collateral Agent’s demand made at any time after the occurrence and during the continuance
of any Event of Default, deliver all tangible evidence of Receivables, including all documents
evidencing Receivables and any books and records relating thereto to the Collateral Agent or to its
representatives (copies of which evidence and books and records may be retained by such Pledgor).
Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may
transfer a full and complete copy of any Pledgor’s books, records, credit information, reports,
memoranda and all other writings relating to the Receivables to and for the use by any person that
has acquired or is contemplating acquisition of an interest in the Receivables or the Collateral Agent’s security interest therein without the consent
of any Pledgor.

          SECTION 7.2. Legend. At any time at which an Event of Default shall have occurred and be
continuing, each Pledgor shall legend, at the request of the Collateral Agent and in form and
manner satisfactory to the Collateral Agent, the Receivables and the other books, records and
documents of such Pledgor evidencing or pertaining to the Receivables with an appropriate reference
to the fact that the Receivables have been assigned to the Collateral Agent for the benefit of the
Secured Parties and that the Collateral Agent has a security interest therein.

ARTICLE VIII

TRANSFERS

          SECTION 8.1. Transfers of Pledged Collateral. No Pledgor shall sell, convey, assign or otherwise
dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by it
hereunder except as permitted by the Credit Agreement.

ARTICLE IX

REMEDIES

          SECTION 9.1. Remedies. Upon the occurrence and during the continuance of any Event of Default, the
Collateral Agent may from time to time exercise in respect of the Pledged Collateral, in addition
to the other rights and remedies provided for herein or otherwise available to it, the following
remedies:

          (i) Personally, or by agents or attorneys, immediately take possession of the Pledged
Collateral or any part thereof, from any Pledgor or any other person who then has possession of any
part thereof with or without notice or process of law but without breach of the peace, and for that
purpose may enter upon any Pledgor’s premises where any of the Pledged Collateral is located,
remove such Pledged Collateral, remain present at such premises to receive copies of all
communications and remittances relating

 

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to the Pledged Collateral and use in connection with such
removal and possession any and all services, supplies, aids and other facilities of any Pledgor;

          (ii) Demand, sue for, collect or receive any money or property at any time payable or
receivable in respect of the Pledged Collateral including instructing the obligor or obligors on
any agreement, instrument or other obligation constituting part of the Pledged Collateral to make
any payment required by the terms of such agreement, instrument or other obligation directly to the
Collateral Agent, and in connection with any of the foregoing, compromise, settle, extend the time
for payment and make other
modifications with respect thereto; provided, however, that in the event that
any such payments are made directly to any Pledgor, prior to receipt by any such obligor of such
instruction, such Pledgor shall segregate all amounts received pursuant thereto in trust for the
benefit of the Collateral Agent and shall promptly (but in no event later than one (1) Business Day
after receipt thereof) pay such amounts to the Collateral Agent;

          (iii) Sell, assign, grant a license to use or otherwise liquidate, or direct any Pledgor to
sell, assign, grant a license to use or otherwise liquidate, any and all investments made in whole
or in part with the Pledged Collateral or any part thereof, and take possession of the proceeds of
any such sale, assignment, license or liquidation;

          (iv) Take possession of the Pledged Collateral or any part thereof, by directing any Pledgor
in writing to deliver the same to the Collateral Agent at any place or places so designated by the
Collateral Agent, in which event such Pledgor shall at its own expense: (A) forthwith cause the
same to be moved to the place or places designated by the Collateral Agent and therewith delivered
to the Collateral Agent, (B) store and keep any Pledged Collateral so delivered to the Collateral
Agent at such place or places pending further action by the Collateral Agent and (C) while the
Pledged Collateral shall be so stored and kept, provide such security and maintenance services as
shall be necessary to protect the same and to preserve and maintain them in good condition;

          (v) Withdraw all moneys, instruments, securities and other property in any bank, financial
securities, deposit or other account of any Pledgor constituting Pledged Collateral for application
to the Secured Obligations as provided in Article X hereof;

          (vi) Retain and apply the Distributions to the Secured Obligations as provided in Article
X hereof;

          (vii) Exercise any and all rights as beneficial and legal owner of the Pledged Collateral,
including perfecting assignment of and exercising any and all voting, consensual and other rights
and powers with respect to any Pledged Collateral; and

          (viii) Exercise all the rights and remedies of a secured party on default under the UCC, and
the Collateral Agent may also in its sole discretion, without notice except as specified in
Section 9.2 hereof, sell, assign or grant a license to use the Pledged Collateral or any
part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or
at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery,
and at such price or prices and upon such other terms as the Collateral Agent may deem commercially
reasonable. The Collateral Agent or any other Secured Party or any of their respective Affiliates
may, to the fullest extent permitted under applicable law, be the purchaser, licensee, assignee or
recipient of the Pledged Collateral or any part thereof at any such sale and shall be entitled, for
the purpose of bidding and making settlement or payment of the purchase price for

 

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all or any
portion of the Pledged Collateral sold, assigned or licensed at such sale, to use and apply any of
the Secured Obligations owed to such person as a credit on account of the purchase price of the
Pledged Collateral or any part thereof payable by such person at such sale. Each purchaser,
assignee, licensee or recipient at any such sale shall acquire the property sold, assigned or
licensed absolutely free from any claim or right on the part of any Pledgor, and each Pledgor
hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or
appraisal which it now has or may at any time in the future have under any rule of law or statute
now existing or hereafter enacted. The Collateral Agent shall not be obligated to make any sale of
the Pledged Collateral or any part thereof regardless of
notice of sale having been given. The Collateral Agent may adjourn any public or private sale
from time to time by announcement at the time and place fixed therefor, and such sale may, without
further notice, be made at the time and place to which it was so adjourned. Each Pledgor hereby
waives, to the fullest extent permitted by law, any claims against the Collateral Agent arising by
reason of the fact that the price at which the Pledged Collateral or any part thereof may have been
sold, assigned or licensed at such a private sale was less than the price which might have been
obtained at a public sale, even if the Collateral Agent accepts the first offer received and does
not offer such Pledged Collateral to more than one offeree.

          SECTION 9.2. Notice of Sale. Each Pledgor acknowledges and agrees that, to the extent notice of
sale or other disposition of the Pledged Collateral or any part thereof shall be required by law,
ten (10) days’ prior notice to such Pledgor of the time and place of any public sale or of the time
after which any private sale or other intended disposition is to take place shall be commercially
reasonable notification of such matters.

          SECTION 9.3. Waiver of Notice and Claims. Each Pledgor hereby waives, to the fullest extent
permitted by applicable law, notice or judicial hearing in connection with the Collateral Agent’s
taking possession or the Collateral Agent’s disposition of the Pledged Collateral or any part
thereof, including any and all prior notice and hearing for any prejudgment remedy or remedies and
any such right which such Pledgor would otherwise have under law, and each Pledgor hereby further
waives, to the fullest extent permitted by applicable law: (i) all damages occasioned by such
taking of possession, (ii) all other requirements as to the time, place and terms of sale or other
requirements with respect to the enforcement of the Collateral Agent’s rights hereunder and (iii)
all rights of redemption, appraisal, valuation, stay, extension or moratorium now or hereafter in
force under any applicable law. The Collateral Agent shall not be liable for any incorrect or
improper payment made pursuant to this Article IX in the absence of gross negligence or
willful misconduct on the part of the Collateral Agent. Any sale of any Pledged Collateral shall
operate to divest all right, title, interest, claim and demand, either at law or in equity, of the
applicable Pledgor therein and thereto, and shall be a perpetual bar both at law and in equity
against such Pledgor and against any and all persons claiming or attempting to claim the Pledged
Collateral so sold, or any part thereof, from, through or under such Pledgor.

          SECTION 9.4. Certain Sales of Pledged Collateral.

          (a) Each Pledgor recognizes that, by reason of certain prohibitions contained in law, rules,
regulations or orders of any Governmental Authority, the Collateral Agent may be compelled, with
respect to any sale of all or any part of the Pledged Collateral, to limit purchasers to those who
meet the requirements of such Governmental Authority. Each Pledgor acknowledges that any such
sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable
through a public sale without such restrictions, and, notwithstanding such circumstances, agrees
that any such restricted sale shall not be deemed not to have been made in a commercially
reasonable manner solely on account of

 

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such limitations and that, except as may be required by
applicable law, the Collateral Agent shall have no obligation to engage in public sales.

          (b) Each Pledgor recognizes that, by reason of certain prohibitions contained in the
Securities Act, and applicable state securities laws, the Collateral Agent may be compelled, with
respect to any sale of all or any part of the Securities Collateral and Investment Property, to
limit purchasers to persons who will agree, among other things, to acquire such Securities
Collateral or Investment Property for their own account, for investment and not with a view to the
distribution or resale thereof. Each Pledgor acknowledges that any such private sales may be at
prices and on terms less favorable to the Collateral Agent than those obtainable through a public
sale without such restrictions (including a public offering made pursuant to a registration
statement under the Securities Act), and, notwithstanding such circumstances, agrees that any such
private sale shall not be deemed not to have been made in a commercially reasonable manner solely
on account of such limitations and that, except as may be required by applicable law, the
Collateral Agent shall have no obligation to engage in public sales and no obligation to delay the
sale of any Securities Collateral or Investment Property for the period of time necessary to permit
the issuer thereof to register it for a form of public sale requiring registration under the
Securities Act or under applicable state securities laws, even if such issuer would agree to do so.

          (c) Notwithstanding the foregoing, each Pledgor shall, upon the occurrence and during the
continuance of any Event of Default, at the reasonable request of the Collateral Agent, for the
benefit of the Collateral Agent, cause any registration, qualification under or compliance with any
Federal or state securities law or laws to be effected with respect to all or any part of the
Securities Collateral as soon as practicable and at the sole cost and expense of the Pledgors.
Each Pledgor will use its commercially reasonable efforts to cause such registration to be effected
(and be kept effective) and will use its commercially reasonable efforts to cause such
qualification and compliance to be effected (and be kept effective) as may be so requested and as
would permit or facilitate the sale and distribution of such Securities Collateral including
registration under the Securities Act (or any similar statute then in effect), appropriate
qualifications under applicable blue sky or other state securities laws and appropriate compliance
with all other requirements of any Governmental Authority. Each Pledgor shall use its commercially
reasonable efforts to cause the Collateral Agent to be kept advised in writing as to the progress
of each such registration, qualification or compliance and as to the completion thereof, shall
furnish to the Collateral Agent such number of prospectuses, offering circulars or other documents
incident thereto as the Collateral Agent from time to time may reasonably request, and shall
indemnify, on customary terms, and shall use its commercially reasonable efforts to cause the
issuer of the Securities Collateral to indemnify, on customary terms, the Collateral Agent and all
others participating in the distribution of such Securities Collateral against all claims, losses,
damages and liabilities caused by any untrue statement (or alleged untrue statement) of a material
fact contained therein (or in any related registration statement, notification or the like) or by
any omission (or alleged omission) to state therein (or in any related registration statement,
notification or the like) a material fact required to be stated therein or necessary to make the
statements therein not misleading.

          (d) If the Collateral Agent determines to exercise its right to sell any or all of the
Securities Collateral or Investment Property, upon written request, the applicable Pledgor shall
from time to time furnish to the Collateral Agent all such information as the Collateral Agent may
request in order to determine the number of securities included in the Securities Collateral or
Investment Property which may be sold by the Collateral Agent as exempt transactions under the
Securities Act and the rules of the Securities and Exchange Commission thereunder, as the same are
from time to time in effect.

 

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          (e) Each Pledgor further agrees that a breach of any of the covenants contained in this
Section 9.4 will cause irreparable injury to the Collateral Agent and the other Secured
Parties, that the Collateral Agent and the other Secured Parties have no adequate remedy at law in
respect of such breach
and, as a consequence, that each and every covenant contained in this Section 9.4
shall be specifically enforceable against such Pledgor, and such Pledgor hereby waives and agrees
not to assert any defenses against an action for specific performance of such covenants except for
a defense that no Event of Default has occurred and is continuing.

          SECTION 9.5. No Waiver; Cumulative Remedies.

          (a) No failure on the part of the Collateral Agent to exercise, no course of dealing with
respect to, and no delay on the part of the Collateral Agent in exercising, any right, power or
remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any
such right, power, privilege or remedy hereunder preclude any other or further exercise thereof or
the exercise of any other right, power, privilege or remedy; nor shall the Collateral Agent be
required to look first to, enforce or exhaust any other security, collateral or guaranties. All
rights and remedies herein provided are cumulative and are not exclusive of any rights or remedies
provided by law or otherwise available.

          (b) In the event that the Collateral Agent shall have instituted any proceeding to enforce any
right, power, privilege or remedy under this Agreement or any other Loan Document by foreclosure,
sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any
reason or shall have been determined adversely to the Collateral Agent, then and in every such
case, the Pledgors, the Collateral Agent and each other Secured Party shall be restored to their
respective former positions and rights hereunder with respect to the Pledged Collateral, and all
rights, remedies, privileges and powers of the Collateral Agent and the other Secured Parties shall
continue as if no such proceeding had been instituted.

          SECTION 9.6. Certain Additional Actions Regarding Intellectual Property. If any Event of Default
shall have occurred and be continuing, upon the written demand of the Collateral Agent, each
Pledgor shall execute and deliver to the Collateral Agent an assignment or assignments of the
registered Patents, Trademarks and/or Copyrights and Goodwill and such other documents as are
necessary or appropriate to carry out the intent and purposes hereof. Within five (5) Business
Days of written notice thereafter from the Collateral Agent, each Pledgor shall make available to
the Collateral Agent, to the extent within such Pledgor’s power and authority, such personnel in
such Pledgor’s employ on the date of the Event of Default as the Collateral Agent may reasonably
designate to permit such Pledgor to continue, directly or indirectly, to produce, advertise and
sell the products and services sold by such Pledgor under the registered Patents, Trademarks and/or
Copyrights, and such persons shall be available to perform their prior functions on the Collateral
Agent’s behalf.

ARTICLE X

APPLICATION OF PROCEEDS

          SECTION 10.1. Application of Proceeds. The proceeds received by the Collateral Agent in respect of
any sale of, collection from or other realization upon all or any part of the Pledged Collateral
pursuant to the exercise by the Collateral
Agent of its remedies shall be applied, together with

 

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any other sums then held by the
Collateral Agent pursuant to this Agreement, in accordance with the Credit Agreement.

ARTICLE XI

MISCELLANEOUS

          SECTION 11.1. Concerning Collateral Agent.

          (a) The Collateral Agent has been appointed as collateral agent pursuant to the Credit
Agreement. The actions of the Collateral Agent hereunder are subject to the provisions of the
Credit Agreement. The Collateral Agent shall have the right hereunder to make demands, to give
notices, to exercise or refrain from exercising any rights, and to take or refrain from taking
action (including the release or substitution of the Pledged Collateral), in accordance with this
Agreement and the Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact
in connection herewith and shall not be liable for the negligence or misconduct of any such agents
or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign and a successor
Collateral Agent may be appointed in the manner provided in the Credit Agreement. Upon the
acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that
successor Collateral Agent shall thereupon succeed to and become vested with all the rights,
powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the
retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this
Agreement. After any retiring Collateral Agent’s resignation, the provisions hereof shall inure to
its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was
the Collateral Agent.

          (b) The Collateral Agent shall be deemed to have exercised reasonable care in the custody and
preservation of the Pledged Collateral in its possession if such Pledged Collateral is accorded
treatment substantially equivalent to that which the Collateral Agent, in its individual capacity,
accords its own property consisting of similar instruments or interests, it being understood that
neither the Collateral Agent nor any of the Secured Parties shall have responsibility for (i)
ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or
other matters relating to any Securities Collateral, whether or not the Collateral Agent or any
other Secured Party has or is deemed to have knowledge of such matters or (ii) taking any necessary
steps to preserve rights against any person with respect to any Pledged Collateral.

          (c) The Collateral Agent shall be entitled to rely upon any written notice, statement,
certificate, order or other document or any telephone message believed by it to be genuine and
correct and to have been signed, sent or made by the proper person, and, with respect to all
matters pertaining to this Agreement and its duties hereunder, upon advice of counsel selected by
it.

          (d) If any item of Pledged Collateral also constitutes collateral granted to the Collateral
Agent under any other deed of trust, mortgage, security agreement, pledge or instrument of any
type, in the event of any conflict between the provisions hereof and the provisions of such other
deed of trust,
mortgage, security agreement, pledge or instrument of any type in respect of such collateral,
the Collateral Agent, in its sole discretion, shall select which provision or provisions shall
control.

 

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          (e) The Collateral Agent may rely on advice of counsel as to whether any or all UCC financing
statements of the Pledgors need to be amended as a result of any of the changes described in
Section 5.13(a) of the Credit Agreement. If any Pledgor fails to provide information to the
Collateral Agent about such changes on a timely basis, the Collateral Agent shall not be liable or
responsible to any party for any failure to maintain a perfected security interest in such
Pledgor’s property constituting Pledged Collateral, for which the Collateral Agent needed to have
information relating to such changes. The Collateral Agent shall have no duty to inquire about
such changes if any Pledgor does not inform the Collateral Agent of such changes, the parties
acknowledging and agreeing that it would not be feasible or practical for the Collateral Agent to
search for information on such changes if such information is not provided by any Pledgor.

          SECTION 11.2. Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If any
Pledgor shall fail to perform any covenants contained in this Agreement (including such Pledgor’s
covenants to (i) pay the premiums in respect of all required insurance policies hereunder, (ii) pay
and discharge any taxes, assessments and special assessments, levies, fees and governmental charges
imposed upon or assessed against, and landlords’, carriers’, mechanics’, workmen’s, repairmen’s,
laborers’, materialmen’s, suppliers’ and warehousemen’s Liens and other claims arising by operation
of law against, all or any portion of the Pledged Collateral, (iii) make repairs, (iv) discharge
Liens or (v) pay or perform any obligations of such Pledgor under any Pledged Collateral) or if any
representation or warranty on the part of any Pledgor contained herein shall be breached, the
Collateral Agent may (but shall not be obligated to) do the same or cause it to be done or remedy
any such breach, and may expend funds for such purpose; provided, however, that the
Collateral Agent shall in no event be bound to inquire into the validity of any tax, Lien,
imposition or other obligation which such Pledgor fails to pay or perform as and when required
hereby and which such Pledgor does not contest in accordance with the provisions of the Credit
Agreement. Any and all amounts so expended by the Collateral Agent shall be paid by the Pledgors
in accordance with the provisions of Section 10.03 of the Credit Agreement. Neither the
provisions of this Section 11.2 nor any action taken by the Collateral Agent pursuant to
the provisions of this Section 11.2 shall prevent any such failure to observe any covenant
contained in this Agreement nor any breach of representation or warranty from constituting an Event
of Default. Each Pledgor hereby appoints the Collateral Agent its attorney-in-fact, with full
power and authority in the place and stead of such Pledgor and in the name of such Pledgor, or
otherwise, from time to time in the Collateral Agent’s discretion to take any action and to execute
any instrument consistent with the terms of the Credit Agreement, this Agreement and the other
Security Documents which the Collateral Agent may deem necessary or advisable to accomplish the
purposes hereof (but the Collateral Agent shall not be obligated to and shall have no liability to
such Pledgor or any third party for failure to so do or take action). The foregoing grant of
authority is a power of attorney coupled with an interest and such appointment shall be irrevocable
for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or
cause to be done by virtue hereof.

          SECTION 11.3. Continuing Security Interest; Assignment. This Agreement shall create a continuing
security interest in the Pledged Collateral and shall (i) be binding upon the Pledgors, their
respective successors and assigns and (ii) inure, together with
the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral
Agent and the other Secured Parties and each of their respective successors, transferees and
assigns. No other persons (including any other creditor of any Pledgor) shall have any interest
herein or any right or benefit with respect hereto. Without limiting the generality of the
foregoing clause (ii), any Secured Party may assign or otherwise transfer any indebtedness held by
it secured by this Agreement to any other person, and such other person shall thereupon become
vested with all the benefits in respect thereof granted to such Secured Party, herein or otherwise,

 

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subject however, to the provisions of the Credit Agreement and, in the case of a Secured Party that
is a party to a Hedging Agreement or a Treasury Services Agreements, such Hedging Agreement or
Treasury Services Agreement, as applicable. Each of the Pledgors agrees that its obligations
hereunder and the security interest created hereunder shall continue to be effective or be
reinstated, as applicable, if at any time payment, or any part thereof, of all or any part of the
Secured Obligations is rescinded or must otherwise be restored by the Secured Party upon the
bankruptcy or reorganization of any Pledgor or otherwise.

          SECTION 11.4. Termination; Release. When all the Obligations and all other Secured Obligations then
due and outstanding (other than, in each case, amounts in respect of indemnification, expense
reimbursement, tax gross-up or yield protection for which no claim has been made) have been paid in
full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the
Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been
terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this
Agreement shall terminate. Upon the sale, transfer or other disposition of any Pledged Collateral
permitted under the Credit Agreement (other than any such sale, transfer or disposition to a Loan
Party), the Lien on such Pledged Collateral shall automatically be released. Upon any Pledgor
ceasing to be a Subsidiary of Parent pursuant to a transaction permitted pursuant to the Credit
Agreement, the Lien on all Pledged Collateral of such Pledgor shall be released and such Pledgor
shall cease to be a Pledgor, and shall cease to have any further obligations, hereunder. Upon such
release or any release of Pledged Collateral or any part thereof in accordance with the provisions
of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and
expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without
recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has
not encumbered the released assets, such of the Pledged Collateral or any part thereof to be
released (in the case of a release) as may be in possession of the Collateral Agent and as shall
not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any
other Pledged Collateral, proper documents and instruments (including UCC-3 termination financing
statements or releases) acknowledging the termination hereof or the release of such Pledged
Collateral, as the case may be.

          SECTION 11.5. Modification in Writing. No amendment, modification, supplement, termination or
waiver of or to any provision hereof, nor consent to any departure by any Pledgor therefrom, shall
be effective unless the same shall be made in accordance with the terms of the Credit Agreement and
unless in writing and signed by the Collateral Agent. Any amendment, modification or supplement of
or to any provision hereof, any waiver of any provision hereof and any consent to any departure by
any Pledgor from the terms of any provision hereof in each case shall be effective only in the
specific instance and for the specific purpose for which made or given. Except where notice is
specifically required by this Agreement, any other document evidencing the Secured Obligations or
applicable law, no notice to or demand on any Pledgor in any case shall entitle any Pledgor to any
other or further notice or demand in similar or other circumstances.

          SECTION 11.6. Notices. Unless otherwise provided herein or in the Credit Agreement, any notice or
other communication herein required or permitted to be given shall be given in the manner and
become effective as set forth in the Credit Agreement, as to any Pledgor, addressed to it at the
address of Parent set forth in the Credit Agreement and as to the Collateral Agent, addressed to it
at the address set forth in the Credit Agreement, or in each case at such other address as shall be
designated by such party in a written notice to the other party complying as to delivery with the
terms of this Section 11.6.

 

-28-

          SECTION 11.7. Governing Law, Consent to Jurisdiction and Service of Process; Waiver of Jury Trial.
Sections 10.09 and 10.10 of the Credit Agreement are incorporated herein, mutatis
mutandis, as if a part hereof.

          SECTION 11.8. Severability of Provisions. Any provision hereof which is invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without invalidating the remaining provisions
hereof or affecting the validity, legality or enforceability of such provision in any other
jurisdiction.

          SECTION 11.9. Execution in Counterparts. This Agreement and any amendments, waivers, consents or
supplements hereto may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be deemed to be an
original, but all such counterparts together shall constitute one and the same agreement.

          SECTION 11.10. Business Days. In the event any time period or any date provided in this Agreement
ends or falls on a day other than a Business Day, then such time period shall be deemed to end and
such date shall be deemed to fall on the next succeeding Business Day, and performance herein may
be made on such Business Day, with the same force and effect as if made on such other day.

          SECTION 11.11. No Credit for Payment of Taxes or Imposition. No Pledgor shall be entitled to any
credit against the principal, premium, if any, or interest payable under the Credit Agreement, and
no Pledgor shall be entitled to any credit against any other sums which may become payable under
the terms thereof or hereof, by reason of the payment of any Tax on the Pledged Collateral or any
part thereof.

          SECTION 11.12. No Claims Against Collateral Agent. Nothing contained in this Agreement shall
constitute any consent or request by the Collateral Agent, express or implied, for the performance
of any labor or services or the furnishing of any materials or other property in respect of the
Pledged Collateral or any part thereof, nor as giving any
Pledgor any right, power or authority to contract for or permit the performance of any labor
or services or the furnishing of any materials or other property in such fashion as would permit
the making of any claim against the Collateral Agent in respect thereof or any claim that any Lien
based on the performance of such labor or services or the furnishing of any such materials or other
property is prior to the Lien hereof.

          SECTION 11.13. No Release. Nothing set forth in this Agreement or any other Loan Document, nor the
exercise by the Collateral Agent of any of the rights or remedies hereunder, shall relieve any
Pledgor from the performance of any term, covenant, condition or agreement on such Pledgor’s part
to be performed or observed under or in respect of any of the Pledged Collateral or from any
liability to any person under or in respect of any of the Pledged Collateral or shall impose any
obligation on the Collateral Agent or any other Secured Party to perform or observe any such term,
covenant, condition or agreement on such Pledgor’s part to be so performed or observed or shall
impose any liability on the Collateral Agent or any other Secured Party for any act or omission on
the part of such Pledgor relating thereto or for any breach of any representation or warranty on
the part of such Pledgor contained in this Agreement, the Credit Agreement or the other Loan
Documents, or under or in respect of the Pledged Collateral or made in connection herewith or
therewith. Anything herein to the contrary notwithstanding, neither the Collateral Agent nor any
other Secured Party shall have any obligation or liability under any contracts, agreements and
other documents included in the Pledged Collateral by reason of this Agreement, nor shall the
Collateral Agent or any other Secured Party be obligated to perform
any of the obligations

 

-29-

or
duties of any Pledgor thereunder or to take any action to collect or enforce any such contract,
agreement or other document included in the Pledged Collateral hereunder. The obligations of each
Pledgor contained in this Section 11.13 shall survive the termination hereof and the
discharge of such Pledgor’s other obligations under this Agreement, the Credit Agreement and the
other Loan Documents.

          SECTION 11.14. Obligations Absolute. All obligations of each Pledgor hereunder shall be absolute and
unconditional irrespective of:

     (i) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
liquidation or the like of any other Pledgor;

     (ii) any lack of validity or enforceability of the Credit Agreement, any Hedging
Agreement, any Treasury Services Agreement or any other Loan Document, or any other
agreement or instrument relating thereto;

     (iii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Secured Obligations, or any other amendment or waiver of or any consent to
any departure from the Credit Agreement, any Hedging Agreement, Treasury Services Agreement
or any other Loan Document or any other agreement or instrument relating thereto;

     (iv) any pledge, exchange, release or non-perfection of any other collateral, or any
release or amendment or waiver of or consent to any departure from any guarantee, for all or
any of the Secured Obligations;

     (v) any exercise, non-exercise or waiver of any right, remedy, power or privilege under
or in respect hereof, the Credit Agreement, any Hedging Agreement, any Treasury Services
Agreement or any other Loan Document except as specifically set forth in a waiver granted
pursuant to the provisions of Section 11.5 hereof; or

     (vi) any other circumstances which might otherwise constitute a defense available to,
or a discharge of, any Pledgor.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

 

S-1 

     IN WITNESS WHEREOF, each Pledgor and the Collateral Agent have caused this Agreement to be
duly executed and delivered by their duly authorized officers as of the date first above written.

	 	 	 	 	 
	 	BEARINGPOINT, INC.,

as Pledgor

 	 
	 	By:  	/s/
Harry L. You 	 
	 	 	Name:  	Harry L. You 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

BEARINGPOINT AMERICAS, INC.

BEARINGPOINT GLOBAL OPERATIONS, INC.

BEARINGPOINT GLOBAL, INC.

BEARINGPOINT INTERNATIONAL I, INC.

BEARINGPOINT USA, INC.

OAD ACQUISITION CORP.

OAD GROUP, INC.

PEATMARWICK, INC.

METRIUS, INC.

SOFTLINE ACQUISITION CORP.

SOFTLINE CONSULTING AND INTEGRATORS, INC., as

Pledgors

	 	 	 	 	 
	 	 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

 

S-2 

	 	 	 	 	 
	 	BEARINGPOINT BG, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT ENTERPRISE HOLDINGS, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT TECHNOLOGY PROCUREMENT SERVICES, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT ISRAEL, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT PUERTO RICO, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

 

S-3 

	 	 	 	 	 
	 	BEARINGPOINT RUSSIA, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT SOUTH PACIFIC, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	BEARINGPOINT SOUTHEAST ASIA, LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	i2 MID ATLANTIC LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	i2 NORTHWEST LLC,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

 

S-4 

	 	 	 	 	 
	 	PELOTON HOLDINGS, L.L.C.,

as Pledgor

 	 
	 	By:  	/s/
Judy Ethell 	 
	 	 	Name:  	Judy Ethell 	 
	 	 	Title:  	President 	 
	 

 

S-5 

	 	 	 	 	 
	 	UBS AG, STAMFORD BRANCH,

as Collateral Agent

 	 
	 	By:  	/s/
Richard L. Tavrow 	 
	 	 	Name:  	Richard L. Tavrow 	 
	 	 	Title:  	Director, Banking Products Services, US 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/
David B. Julie 	 
	 	 	Name:  	David B. Julie 	 
	 	 	Title:  	Associate Director, Banking Products Services, USexv10w8

 

Exhibit 10.8

[Form of]

TERM NOTE

	 	 	 
	$____________

	 	New York, New York

[Date]

     FOR VALUE RECEIVED, the undersigned, BearingPoint, Inc., a Delaware corporation (“Parent”),
BearingPoint, LLC, a Delaware limited liability company (“BE LLC” and, together with Parent, the
“Borrowers”), hereby promise to pay to the order
[                       ] (the “Lender”)
on the Maturity Date (as defined in the Credit Agreement referred to below) in lawful money of the
United States and in immediately available funds, the principal
amount of _________ DOLLARS
($_________), or, if less, the aggregate unpaid principal amount of all Term Loans of the Lender
outstanding under the Credit Agreement referred to below, which sum shall be due and payable in
such amounts and on such dates as are set forth in the Credit Agreement. Borrowers further agree
to pay interest in like money at such office specified in Section 2.14 of the Credit Agreement on
the unpaid principal amount hereof from time to time from the date hereof at the rates, and on the
dates, specified in Section 2.06 of such Credit Agreement.

     The holder of this Note may endorse and attach a schedule to reflect the date, Type and amount
of each Term Loan of the Lender outstanding under the Credit Agreement, the date and amount of each
payment or prepayment of principal hereof, and the date of each interest rate conversion or
continuation pursuant to Section 2.08 of the Credit Agreement and the principal amount subject
thereto; provided that the failure of the Lender to make any such recordation (or any error in such
recordation) shall not affect the obligations of Borrowers hereunder or under the Credit Agreement.

     This Note is one of the Notes referred to in the Credit Agreement dated as of May [ ], 2007
(as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among BearingPoint, Inc., a Delaware corporation (“Parent”), BearingPoint, LLC
a Delaware limited liability company (“BE LLC” and, together with Parent, the “Borrowers”), the
Guarantors, the Lenders, UBS SECURITIES LLC, as lead arranger, documentation agent and syndication
agent, WELLS FARGO FOOTHILL, LLC and UBS AG, STAMFORD BRANCH, each as an issuing bank, and UBS AG,
STAMFORD BRANCH, as administrative agent for the Lenders and collateral agent for the Secured
Parties and Issuing Banks is subject to the provisions thereof and is subject to optional and
mandatory prepayment in whole or in part as provided therein. Terms used herein which are defined
in the Credit Agreement shall have such defined meanings unless otherwise defined herein or unless
the context otherwise requires.

     This Note is secured and guaranteed as provided in the Credit Agreement and the Security
Documents. Reference is hereby made to the Credit Agreement and the Security Documents for a
description of the properties and assets in which a security interest has been granted, the nature
and extent of the security and guarantees, the terms and conditions upon which the security
interest and each guarantee was granted and the rights of the holder of this Note in respect
thereof.

     Upon the occurrence of any one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided therein.

 

 

     All parties now and hereafter liable with respect to this Note, whether maker, principal,
surety, guarantor, endorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.

     THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS OF THE CREDIT AGREEMENT.
TRANSFERS OF THIS NOTE MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT
PURSUANT TO THE TERMS OF THE CREDIT AGREEMENT.

     THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION.

[Signature Page Follows]

M-2

 

	 	 	 	 	 
	 	BEARINGPOINT, INC.,

     as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BEARINGPOINT, LLC,

     as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title 	 
	 

M-3

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