Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

PARTNERSHIP INTEREST PURCHASE AGREEMENT

dated December 10, 2010

by and among

BRIGHTPOINT NORTH AMERICA L.P.,

TOUCHSTONE ACQUISITION LLC,

TOUCHSTONE WIRELESS REPAIR AND LOGISTICS, LP,

TOUCHSTONE WIRELESS INVESTMENT PARTNERS, LLC and the

LIMITED PARTNERS

 

 

	 	 	 	 	 
	Table of Contents	 	Page	 
	 
	1. Definitions
	 	 	1	 
	 	 	 	 	 
	1.1. Certain Definitions
	 	 	1	 
	1.2. Terms Defined Elsewhere
	 	 	9	 
	 	 	 	 	 
	2. Purchase and Sale of Equity Interests
	 	 	11	 
	 	 	 	 	 
	2.1. Basic Transaction
	 	 	11	 
	2.2. Purchase Price
	 	 	11	 
	2.3. Purchase Price Adjustments.
	 	 	11	 
	2.4. The Closing
	 	 	16	 
	2.5. Deliveries at the Closing
	 	 	16	 
	2.6. Purchase Price Allocation
	 	 	18	 
	 	 	 	 	 
	3. Representations and Warranties Concerning the Sellers
	 	 	19	 
	 	 	 	 	 
	3.1. Authorization
	 	 	19	 
	3.2. Ownership of Equity Interests
	 	 	19	 
	3.3. Noncontravention
	 	 	19	 
	3.4. Broker Fees
	 	 	19	 
	 	 	 	 	 
	4. Representations and Warranties Concerning the Company and its Subsidiaries
	 	 	19	 
	 	 	 	 	 
	4.1. Organization and Authorization
	 	 	19	 
	4.2. Subsidiaries
	 	 	20	 
	4.3. Capitalization
	 	 	21	 
	4.4. Noncontravention
	 	 	21	 
	4.5. Title to Assets
	 	 	21	 
	4.6. Broker Fees
	 	 	22	 
	4.7. Financial Statements; Indebtedness
	 	 	22	 
	4.8. No Undisclosed Liabilities
	 	 	22	 
	4.9. Events Subsequent to Most Recent Fiscal Year End
	 	 	23	 
	4.10. Legal Compliance
	 	 	24	 
	4.11. Tax Matters
	 	 	25	 
	4.12. Real Property
	 	 	26	 
	4.13. Intellectual Property
	 	 	27	 
	4.14. Information Technology
	 	 	29	 
	4.15. Material Contracts
	 	 	30	 
	4.16. Licenses and Authorizations
	 	 	31	 
	4.17. Insurance
	 	 	32	 
	4.18. Litigation
	 	 	32	 
	4.19. Employees and Independent Contractors
	 	 	33	 
	4.20. Employee Benefits
	 	 	34	 
	4.21. Environment, Health and Safety Matters
	 	 	37	 
	4.22. Accounts Receivable
	 	 	38	 

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	Table of Contents	 	Page	 
	 
	4.23. Customers and Suppliers
	 	 	38	 
	4.24. Inventory
	 	 	39	 
	4.25. Certain Business Relationships With the Company and its Subsidiaries
	 	 	39	 
	4.26. Product Warranties; Latent Defects
	 	 	39	 
	4.27. Illegal Payments
	 	 	39	 
	4.28. Bank Accounts; Power of Attorney
	 	 	40	 
	4.29. State Takeover Statutes
	 	 	40	 
	4.30. No Limitation
	 	 	40	 
	 
	5. Representations and Warranties of Buyer
	 	 	41	 
	 
	5.1. Organization of BPNA
	 	 	41	 
	5.2. Organization of BPGP
	 	 	41	 
	5.3. Authorization of Transaction
	 	 	41	 
	5.4. Noncontravention
	 	 	42	 
	5.5. Broker Fees
	 	 	42	 
	5.6. Litigation
	 	 	42	 
	5.7. Purchase for Investment
	 	 	42	 
	5.8. Sufficient Financing
	 	 	42	 
	5.9. No Knowledge of Misrepresentation or Omission
	 	 	42	 
	5.10. Investigation; No Reliance
	 	 	43	 
	 
	6. Covenants of the Sellers Prior to the Closing Date
	 	 	43	 
	 
	6.1. Access and Investigation
	 	 	43	 
	6.2. Operation of the Business
	 	 	44	 
	6.3. Commercially Reasonable Efforts
	 	 	46	 
	6.4. Consents and Approvals
	 	 	46	 
	6.5. Audited Financials
	 	 	48	 
	6.6. No Solicitation of Transactions
	 	 	48	 
	6.7. Public Announcements
	 	 	49	 
	6.8. Termination of Agreements
	 	 	49	 
	6.9. Bonus Calculation
	 	 	49	 
	 
	7. Conditions Precedent
	 	 	49	 
	 
	7.1. Conditions Precedent to Obligations of Buyer
	 	 	49	 
	7.2. Conditions Precedent to Obligations of the Sellers
	 	 	50	 
	 
	8. Post-Closing Covenants
	 	 	51	 
	 
	8.1. Further Assurances
	 	 	51	 
	8.2. Transition
	 	 	51	 
	8.3. Record Retention
	 	 	52	 
	8.4. Nondisclosure; Noncompetition; Nonsolicitation; Nondisparagement
	 	 	52	 
	8.5. Nondisparagement
	 	 	55	 

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	Table of Contents	 	Page	 
	 
	8.6. Reserved
	 	 	55	 
	8.7. Directors’ and Officers’ Indemnification
	 	 	55	 
	 
	9. Indemnification
	 	 	56	 
	 
	9.1. Sellers’ Indemnification
	 	 	56	 
	9.2. Sellers’ Indemnification Related to the Company’s Representations, Warranties and Non-Performance
	 	 	56	 
	9.3. Buyer’s and the Company’s Indemnification
	 	 	57	 
	9.4. Indemnification Procedures
	 	 	58	 
	9.5. Limits on Indemnification
	 	 	59	 
	9.6. Survival of Representations and Warranties
	 	 	61	 
	9.7. Mitigation; Losses Net of Insurance, Etc.
	 	 	61	 
	9.8. Tax Treatment of Indemnity Payments
	 	 	61	 
	9.9. Distributions from Escrow Fund
	 	 	62	 
	9.10. Sole Remedy/Waiver
	 	 	62	 
	9.11. No Consequential Damages
	 	 	62	 
	9.12. Other Limitations
	 	 	63	 
	9.13. Seller Representative
	 	 	63	 
	 
	10. Termination
	 	 	65	 
	 
	10.1. Termination
	 	 	65	 
	10.2. Effect of Termination
	 	 	66	 
	 
	11. Tax Matters
	 	 	66	 
	 
	11.1. Pre-Closing Tax Returns
	 	 	66	 
	11.2. Straddle Period Tax Returns
	 	 	66	 
	11.3. Transfer Taxes
	 	 	67	 
	11.4. Cooperation on Tax Matters
	 	 	67	 
	11.5. Audits
	 	 	67	 
	 
	12. Additional Terms and Provisions
	 	 	68	 
	 
	12.1. No Third-Party Beneficiaries
	 	 	68	 
	12.2. Entire Agreement
	 	 	68	 
	12.3. Schedules
	 	 	68	 
	12.4. Assignment
	 	 	69	 
	12.5. Notices
	 	 	69	 
	12.6. Controlling Law
	 	 	70	 
	12.7. Jurisdiction and Process
	 	 	70	 
	12.8. Waiver of a Jury Trial
	 	 	71	 
	12.9. Specific Performance
	 	 	71	 
	12.10. Amendments and Waivers
	 	 	71	 
	12.11. Severability; No Waiver
	 	 	71	 

iii

 

	 	 	 	 	 
	Table of Contents	 	Page	 
	 
	12.12. Expenses
	 	 	72	 
	12.13. Full Understanding
	 	 	72	 
	12.14. Construction
	 	 	72	 
	12.15. Counterparts
	 	 	72	 
	12.16. Headings
	 	 	72	 
	12.17. References
	 	 	72	 
	12.18. Provision Respecting Legal Representation
	 	 	72	 

iv

 

	 	 	 	 
	Table of Contents	 	 	Page
	 	 
	EXHIBITS
	 	 	 
	 	 
	Exhibit A

	 	Ownership of Equity Interests

	 
	Exhibit B  	 	Seller’s Equity Interest Assignment Form 	 
	Exhibit C 	 	Form of Escrow Agreement  	 
	Exhibit D 	 	Working Capital Calculation and Related Accounting Principles 	 

v

 

PARTNERSHIP INTEREST PURCHASE AGREEMENT

     PARTNERSHIP INTEREST PURCHASE AGREEMENT (this “Agreement”) dated December 10, 2010
(the “Agreement Date”) by and among Brightpoint North America L.P., a Delaware limited
partnership (“BPNA”), Touchstone Acquisition LLC, an Indiana limited liability company
(“BPGP” and, collectively with BPNA, “Buyer”), Touchstone Wireless Repair and
Logistics, LP, a Pennsylvania limited partnership (the “Company”), Touchstone Wireless
Investment Partners, LLC, a Pennsylvania limited liability company and the general partner of the
Company (the “General Partner”), and all of the limited partners of the Company listed on
Exhibit A attached hereto (collectively, the “Limited Partners” and, together with
the General Partner, the “Sellers”). Buyer, the Sellers and the Company are referred to
collectively herein as the “Parties.”

PREAMBLE

     WHEREAS, the General Partner is the owner of 100% of the general partnership interests (the
“GP Interests”) in, and the sole General Partner of, the Company;

     WHEREAS, the Limited Partners, collectively, are the owners of 100% of the limited partnership
interests in the Company (the “LP Interests” and, together with the GP Interests, the
“Equity Interests”); and

     WHEREAS, this Agreement contemplates a transaction in which Buyer will purchase from the
Sellers, and the Sellers will sell to Buyer, all of the Equity Interests.

     NOW, THEREFORE, in consideration of the mutual agreements contained herein, and intending to
be legally bound hereby, the Parties agree as follows:

     1. Definitions.

          1.1. Certain Definitions. Capitalized terms used and not otherwise defined herein
shall have the following meanings:

          (a) “Accounting Arbitrator” means a Neutral Accounting Firm mutually agreed upon by
the Buyer and Seller Representative.

          (b) “Accounting Principles” means those principles set forth on Exhibit D
hereto.

          (c) “Acquisition Proposal” means any inquiry, offer or proposal concerning any (a)
merger, consolidation, equity exchange, reorganization, recapitalization, business combination, or
other similar transaction in which the other party thereto or its stockholders will own 20% or more
of the combined voting power of the surviving entity resulting from any such

1

 

transaction, (b) sale,
lease, exchange, mortgage, pledge, transfer or other disposition of assets of the Company or its
Subsidiaries, as the case may be, representing 20% or more of the consolidated assets of the
Company taken as a whole in a single transaction or series of related transactions, (c) any other
transaction or series of related transactions pursuant to which any third party proposes to acquire
control of assets of the Company or its Subsidiaries having a fair market value equal to or greater
than 20% of the fair market value of all of the assets of the Company or its Subsidiaries, as the
case may be, taken as a whole, immediately prior to such transaction, or (d) any agreement to
engage in any of the foregoing (in each case, other than the transactions contemplated by this
Agreement).

          (d) “Affiliate” has the meaning set forth in Rule 12b-2 of the regulations promulgated
under the Securities Exchange Act.

          (e) “Authorizations” means, as to any Person, all licenses, permits, franchises,
orders, approvals, concessions, clearances, registrations, qualifications and other authorizations
issued or granted to such Person under applicable foreign, federal, state and local laws or by any
Governmental Authority.

          (f) “Business Day” means any day excluding Saturday, Sunday and any day which is a
legal holiday under the laws of the State of New York or is a day on which banking institutions
located in the State of New York are authorized or required by law or other governmental action to
close.

          (g) “Business of the Company” means the business of providing logistics, repair or
consignment resale services for cellular phones or smart phones, in each case with a voice
transmission capability, or cable or set top boxes.

          (h) “Cash” means, as of any date, any cash on hand, cash in bank or other accounts,
readily marketable securities, and other cash-equivalent liquid assets of any nature as of such
date, determined in accordance with the Accounting Principles.

          (i) “COBRA” means the requirements of Part 6 of Subtitle B of Title I of ERISA and
Code §4980B.

          (j) “Code” means the Internal Revenue Code of 1986, as amended.

          (k) “Company Competitor” means a business that is directly competitive with the
Business of the Company; provided, however, that any business that provides logistics, repair, or
consignment resale services to electronic devices other than cellular phones or smart phones, in
each case with a voice transmission capability, or cable or set top boxes, or
any business that provides products or services other than logistics, repair, or consignment resale
services to wireless carriers, insurers, manufacturers, suppliers, distributors, retailers,
logistics or

2

 

repair providers shall in no event be a Company Competitor.

          (l) “Contract” means, whether written or oral, any note, bond, mortgage, indenture,
contract, agreement, license, lease, purchase order, sales order or other legally binding
commitment or obligation, express or implied, to which a Person is a party or by which a Person or
its assets or properties are bound.

          (m) “Current Assets” means, without duplication, the sum of (a) trade and other
accounts receivable, (b) prepaid expenses (including prepaid Taxes), (c) inventory, and (d) other
assets that would be accounted for as current assets, determined in accordance with the Accounting
Principles, but excluding Cash.

          (n) “Current Liabilities” means, without duplication, the sum of (a) trade and other
accounts payable, (b) accrued salaries and bonuses, and (c) other liabilities that would be
accounted for as current liabilities in accordance with the Accounting Principles, but excluding
any (x) Indebtedness and (y) Unpaid Transaction Expenses; all as determined in accordance with the
Accounting Principles.

          (o) “Employee Benefit Plan” means any employee benefit plan as defined in Section 3(3)
of ERISA, any “voluntary employees’ beneficiary association” within the meaning of
Section 501(c)(9) of the Code, “welfare benefit fund” within the meaning of Section 419 of the
Code, or “qualified asset account” within the meaning of Section 419A of the Code, and any other
material plan, program, policy or arrangement for or regarding bonuses, commissions, incentive
compensation, severance, vacation, pensions, profit sharing, retirement, payroll savings, stock
options, stock purchases, stock awards, stock ownership, phantom stock, stock appreciation rights,
equity compensation, medical/dental expense payment or reimbursement, disability income or
protection, sick pay, group insurance, self insurance, death benefits, employee welfare or fringe
benefits of any nature, including those benefiting retirees or former employees.

          (p) “Environmental Laws” means all applicable federal, state, local and foreign or
international laws and any implementing regulations, legally binding agency guidance or policy as
well as applicable common laws relating to the environment (including, without limitation, ambient
air, surface water, groundwater, land surface or subsurface strata) or protection of human health
as it relates to exposure to Hazardous Materials including, without limitation, relating to (i)
Releases or threatened Releases of Hazardous Materials, (ii) the manufacture, processing,
distribution, use, treatment, storage, transport or management of Hazardous Materials, (iii) the
management of asbestos or lead in buildings or other structures, or (iv) the Comprehensive
Environmental Response, Compensation and Liability Act, the Resource Conservation and Recovery Act,
the Hazardous Materials Transportation Act and the Occupational Health and Safety Act (to the
extent related to worker exposure to Hazardous Materials).

3

 

          (q) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and
all rulings and regulations promulgated thereunder.

          (r) “ERISA Affiliate” means any entity, trade or business (whether or not
incorporated) that is part of the same controlled group with, under common control with, part of an
affiliated service group with, or part of another arrangement that includes, the Company or any
ERISA Affiliate within the meaning of Code Section 414(b), (c), (m) or (o).

          (s) “Escrow Agent” means JPMorgan Chase Bank, N.A.

          (t) “Escrow Agreement” means the escrow agreement to be entered into on the Closing
Date by and among Buyer, Escrow Agent and the Seller Representative, on behalf of the Sellers, in
substantially the form attached hereto as Exhibit C (the “Escrow Agreement”).

          (u) “Excluded Intellectual Property Losses” means any and all Losses: (i) arising out
of or caused by any claim or Proceeding for patent or other Intellectual Property infringement made
by a party against whom Buyer, the Company or either of their respective Affiliates has initiated
patent or other Intellectual Property infringement Proceedings or to whom Buyer, the Company or
either of their respective Affiliates has delivered a written notice, or otherwise made a claim, of
patent or other Intellectual Property infringement, in either case with respect to ICE; (ii)
arising out of or caused by the use of ICE outside of the United States; or (iii) arising from and
after the filing of any patent application with respect to ICE.

          (v) “Fundamental Representations” means those representations and warranties set forth
in Sections 3.1 (Authorization), 3.2 (Ownership of Equity Interests), 3.3
(Noncontravention), 3.4 (Broker Fees), 4.1 (Organization and Authorization),
4.2 (Subsidiaries), 4.3 (Capitalization) and 4.6 (Broker Fees).

          (w) “GAAP” means United States generally accepted accounting principles as in effect
as of the date of this Agreement.

          (x) “Governmental Authority” means any executive, legislative, judicial, regulatory or
administrative government authority, including, without limitation, any federal, state, local or
foreign government or any subdivision, agency, instrumentality, authority (including any
regulatory, administrative, and self-regulatory authority), department, commission, board or bureau
thereof or any federal, state, local or foreign court or tribunal.

          (y) “Hazardous Materials” means any toxic or hazardous substance, material, or waste,
and any other contaminant, pollutant or constituent thereof, whether liquid, solid, semi-solid,
sludge and/or gaseous, including without limitation, chemicals, compounds, by-products, pesticides,
asbestos containing materials, petroleum or petroleum products, and polychlorinated biphenyls, and
any other toxic or hazardous material or substance, whether waste materials, raw

4

 

materials or
finished products regulated or governed by any Environmental Law.

          (z) “ICE” means the Company’s inventory control environment and all related
Intellectual Property and Information Technology as constituted as of the date hereof.

          (aa) “Indebtedness” means, with respect to any Person, (a) all obligations of such
Person, whether or not contingent, for borrowed money of whatsoever nature including, without
limitation, (i) any loan or other financial credit facilities, (ii) any outstanding letters of
credit, to the extent funded, (iii) any off balance sheet financial obligations in the nature of
indebtedness for borrowed money, (iv) any capitalized leases, and (v) with respect to the Company,
(A) any obligation to repay the Commonwealth of Pennsylvania amounts owed under the Settlement and
Release Agreement by and between the Company and the Commonwealth of Pennsylvania, (B) any payments
required to be made to the Sellers by the Company as a result of the transaction contemplated by
this Agreement, (C) any obligations under the unsecured notes payable resulting from the
acquisition of the Company’s Series B Preferred Interests, (D) payment obligations under the
Settlement Agreement and Mutual Release, dated as of March 31, 2009, by and among the Company, the
General Partner, Striker Investment Partners, LLC, Striker Partners I, L.P., BKI Enterprises, Inc.
and Brian Itterly and (b) any guarantees of the obligations described in clause (a) above of any
other Person. 

          (bb) “Information Technology” means all computer hardware, Software, microprocessors,
networks, firmware and other information technology and communications equipment used in the
operations of the Company and its Subsidiaries.

          (cc) “IRS” means the Internal Revenue Service.

          (dd) “Knowledge of the Company,” “to the Company’s Knowledge” and similar
phrases mean the knowledge of John K. Cowles, James Allen Hurley, II, Ricky A. Hurley, David
Hunter, Rockwell Scott, David Edwards and Anne Mozeko, after due inquiry. For purposes of this
Section 1.1(dd), “due inquiry” shall mean solely the oral inquiry of any other Company
employee heading any department responsible for a subject area addressed by the representations and
warranties of the Company set forth in this Agreement.

          (ee) “Liabilities” means any direct or indirect Indebtedness, liability or obligation,
known or unknown, fixed or inchoate, liquidated or unliquidated, secured or unsecured, accrued,
absolute, contingent or otherwise.

          (ff) “Licenses” means all material licenses, franchises, permits and other similar
requirements of or with any Governmental Authority which are held by a Party as of the date hereof.

          (gg) “Losses” of a Person means any and all losses, liabilities, damages, claims,
awards, judgments, reasonable costs and reasonable expenses (including, without limitation, the

5

 

costs of reasonable investigation, remediation and attorneys’ fees) suffered or incurred by such
Person; provided, however, that such term shall not include any damages based on any multiple of
profits or earnings or incidental, punitive, special, indirect or consequential damages except in
the case of fraud or intentional misrepresentation or to the extent actually payable to a third
party in respect of a third-party claim; provided, further, that the Losses of the Buyer Group
shall in no event include any Excluded Intellectual Property Losses.

          (hh) “Material Adverse Effect” means, with respect to any Person, any change, effect,
event, circumstance, occurrence or state of facts that, individually or in the aggregate, has had a
material and adverse effect on the business, assets, financial condition or results of operations
of such Person and its Subsidiaries, taken as a whole; provided, however, that none of the
following shall be deemed, either alone or in combination, to constitute a Material Adverse Effect
on such Person: (i) any adverse effect to the extent attributable to the announcement or pendency
of the transactions contemplated by this Agreement; (ii) except to the extent that they affect the
Person in a materially disproportionate manner relative to other U.S. companies, any adverse effect
attributable to conditions generally affecting (A) the industries in which each of the such Person
and its Subsidiaries and its Subsidiaries participate, (B) the U.S. economy as a whole or global
economic conditions, or (C) the financial, banking, currency or capital markets in general (whether
in the United States or any other country or in any international market) or changes in currency
exchange rates or currency fluctuations; (iii) any adverse effect resulting from or relating to
compliance with the terms of, or the taking of any action required by, this Agreement (including
any adverse effect that results from Buyer’s refusal to permit the Company upon the Company’s
request to take any of the actions itemized in Section 6.2 hereof); (iv) any adverse effect
arising from or relating to any change in accounting requirements or principles or any change in
applicable laws, rules or regulations or the interpretation or enforcement thereof; (v) any adverse
effect resulting from acts of war, hostilities or terrorism; or (vi) with respect to the Company,
any adverse effect attributable to actions of Buyer. References in this Agreement to dollar amount
thresholds shall not be deemed to be evidence of a Material Adverse Effect or materiality.

          (ii) “Most Recent Balance Sheet” means the balance sheet contained within the Most
Recent Financial Statements.

          (jj) “Multiemployer Plan” has the meaning set forth in ERISA §3(37) or Code §414(f).

          (kk) “Net Working Capital” means, for purposes of Section 2.3 herein, the
difference between (a) Current Assets of the Company as of the close of business on the Business
Day before the Closing Date, and (b) Current Liabilities of the Company as of the close of business
on the Business Day before the Closing Date and calculated in accordance with the example set forth
in Exhibit D and the Accounting Principles.

          (ll) “Neutral Accounting Firm” means an independent accounting firm of

6

 

nationally
recognized standing that has not rendered services to any of Buyer or any Affiliate thereof, the
Sellers or any Affiliate thereof, or the Company or any Subsidiary thereof within twenty-four (24)
months prior to the date of retention of such accounting firm.

          (mm) “OEM” means an original equipment manufacturer of wireless telecommunication
devices and/or related accessories.

          (nn) “Open Source Materials” means Software that is (i) distributed under any of the
following license or distribution models: open source, public source, freeware, or any modification
or derivative thereof, including by way of example and not limitation, the GNU general public
license, limited GPL or other similar open source license; or (ii) otherwise licensed under any
terms or conditions that impose any requirement that any Software using, linked with,
incorporating, distributed with, based on, derived from or accessing the Software code: (1) be made
available or distributed in source code form; (2) be licensed for the purpose of making derivative
works; (3) be licensed under terms that allow reverse engineering, reverse assembly or disassembly
of any kind; or (4) be redistributable at no charge.

          (oo) “Ordinary Course of Business” means the ordinary course of business consistent
with past practice.

          (pp) “Person” means an individual, a partnership, a corporation, limited liability
company, an association, a joint stock company, a trust, a joint venture, an unincorporated
organization, or a governmental entity (or any department, agency, or political subdivision
thereof).

          (qq) “Pre-Closing Tax Period” means any Tax period ending on or before the Closing
Date.

          (rr) “Prime Rate” means the prime rate of interest as from time to time published by
The Wall Street Journal (Eastern Edition).

          (ss) “Proprietary Software” means any Software developed by or for the Company or any
of its Subsidiaries for use in the business of the Company or its Subsidiaries. Without limiting
the breadth of the foregoing, the term Proprietary Software shall include ICE, but shall not be
deemed to include Third Party Software.

          (tt) “Reportable Event” has the meaning set forth in ERISA §4043.

          (uu) “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended.

          (vv) “Security Interest” means any mortgage, pledge, lien, encumbrance, charge, or
other security interest, other than (i) liens for Taxes not yet due and payable or for

7

 

Taxes that
the taxpayer is contesting in good faith through appropriate proceedings, (ii) mechanics’,
workmen’s, repairmen’s, warehousemen’s, processor’s, landlord’s, carrier’s, maritime, materialmen’s
or similar liens, including all statutory liens arising or incurred in the ordinary course of
business, (iii) liens arising in connection with worker’s compensation, unemployment insurance, old
age pensions and social security benefits which are not overdue or are being contested in good
faith by appropriate proceedings and for which provision for the payment of such liens has been
reflected in the Financial Statements, (iv) liens (A) incurred or deposits made in the ordinary
course of business to secure the performance of bids, tenders, statutory obligations, fee and
expense arrangements with trustees and fiscal agents (exclusive of obligations incurred in
connection with the borrowing of money or the payment of the deferred purchase price of property)
and (B) securing surety, indemnity, performance, appeal and release bonds and (v) any minor
imperfection of title, easements, encroachments, covenants, rights of way, minor defects, minor
irregularities or encumbrances on title or similar lien.

          (ww) “Software” means computer software programs, code, and software systems,
including, without limitation databases, libraries, tool sets, compilers, interfaces between
systems, user interfaces, higher level “proprietary” languages and materials comprising or included
in such programs or systems, and all related documentation, however fixed, whether in source code
or object code format or in any other form or format.

          (xx) “Straddle Tax Period” means any Tax period beginning before and ending after the
Closing Date.

          (yy) “Subsidiary” means any entity with respect to which a specified Person (or a
Subsidiary thereof) owns a majority of the common stock or has the power to vote or direct the
voting of sufficient securities to elect a majority of the directors.

          (zz) “Target Net Working Capital” means Nine Million Three Hundred Thousand Dollars
($9,300,000).

          (aaa) “Tax” or “Taxes” means (a) any foreign, federal, state or local income,
earnings, profits, gross receipts, franchise, capital stock, net worth, sales, use, value added,
occupancy, general property, real property, personal property, intangible property, transfer, fuel,
excise, escheat, unclaimed property, payroll, withholding, unemployment compensation, social
security, retirement, environmental (including any Taxes imposed under Section 59A of the Code) or
other tax of any nature; or (b) any deficiency, interest or penalty imposed with respect to any of
the foregoing.

          (bbb) “Tax Returns” means all returns and reports, amended returns, information
returns, statements, declarations, estimates, schedules, notices, notifications, forms, elections,
certificates or other documents required to be filed or submitted to any Governmental Authority
with respect to the determination, assessment, collection or payment of any Tax or in connection

8

 

with the administration, implementation or enforcement of, or compliance with, any Tax.

          (ccc) “Taxing Authority” means any domestic, foreign, federal, national, state, county
or municipal or other local government, any subdivision, agency, commission or authority thereof,
or any quasi-governmental body exercising tax regulatory authority.

          (ddd) “Unpaid Transaction Expenses” means all expenses incurred and payable by the
Company related to the negotiation and execution of this Agreement and all other agreements and the
transactions contemplated hereby and thereby, including, without limitation, financial advisory and
attorneys fees, to the extent not paid at or prior to Closing.

          1.2. Terms Defined Elsewhere. The following terms are defined elsewhere in this
Agreement, as indicated below:

	 	 	 

	“Adjustment Calculation”

	 	Section 2.3.1(ii)
	“Adjustment Escrow”

	 	Section 2.2
	“Agreement”

	 	Introduction
	“Agreement Date”

	 	Introduction
	“Asset Acquisition Statement”

	 	Section 2.6
	“Basket”

	 	Section 9.5.1
	“BPGP”

	 	Introduction
	“BPNA”

	 	Introduction
	“Buyer”

	 	Introduction
	“Buyer Ceiling”

	 	Section 9.5.3
	“Buyer Group”

	 	Section 9.1
	“Buyer Schedules”

	 	Section 5
	“Ceiling”

	 	Section 9.5.2
	“Closing”

	 	Section 2.4
	“Closing Balance Sheet”

	 	Section 2.3.1(ii)
	“Closing Date”

	 	Section 2.4
	“Closing Date Cash Calculation”

	 	Section 2.3.2(ii)
	“Closing Date Debt Calculation”

	 	Section 2.3.2(ii)
	“Company”

	 	Preamble
	“Company Client”

	 	Section 8.4.3
	“Company’s Employee Benefit Plans”

	 	Section 4.20.1
	“Company Inventory”

	 	Section 4.24
	“Confidential Information”

	 	Section 8.4.1(i)
	“Confidential Records”

	 	Section 8.4.2
	“Deemed Purchased Assets”

	 	Section 2.6
	“Employees”

	 	Section 4.19
	“Environmental Claims”

	 	Section 4.21.4

9

 

	 	 	 

	“Equity Interests”

	 	Preamble
	“Escrow Agreement”

	 	Section 2.2
	“Escrow Fund”

	 	Section 2.2
	“Estimated Closing Date Cash Adjustment”

	 	Section 2.3.2(i)
	“Estimated Closing Date Debt Adjustment”

	 	Section 2.3.3(i)
	“Estimated Net Working Capital”

	 	Section 2.3.1(i)
	“Estimated Net Working Capital Adjustment”

	 	Section 2.3.1(i)
	“Final Determination”

	 	Section 9.8
	“Financial Statements”

	 	Section 4.7.1
	“General Partner”

	 	Introduction
	“GP Interests”

	 	Preamble
	“HSR Act”

	 	Section 6.4
	“Indemnification Escrow”

	 	Section 2.2
	“Indemnification Matter”

	 	Section 9.4
	“Indemnification Notice”

	 	Section 9.4
	“Indemnitee”

	 	Section 9.4
	“Indemnitor”

	 	Section 9.4
	“Intellectual Property”

	 	Section 4.13
	“Limited Partners”

	 	Introduction
	“LP Interests”

	 	Preamble
	“Material Contracts”

	 	Section 4.15
	“Most Recent Annual Financial Statements”

	 	Section 4.7.1
	“Most Recent Audited Financial Statements”

	 	Section 4.7.1
	“Most Recent Financial Statements”

	 	Section 4.7.1
	“Most Recent Fiscal Year End”

	 	Section 4.7.1
	“Net Working Capital Calculation”

	 	Section 2.3.1(ii)
	“Net Working Capital Disputed Items”

	 	Section 2.3.1(iv)
	“Objection Notice”

	 	Section 2.3.1(iii)
	“Parties”

	 	Introduction
	“Preliminary Net Working Capital Excess”

	 	Section 2.3.1(i)
	“Preliminary Net Working Capital Shortfall”

	 	Section 2.3.1(i)
	“Proceedings”

	 	Section 4.18.1
	“Protected Agents”

	 	Section 8.7.1
	“Purchase Price”

	 	Section 2.2
	“Registered Intellectual Property”

	 	Section 4.13.2
	“Relevant Parties”

	 	Section 8.4.3
	“Revised Statement”

	 	Section 2.6
	“Reportable Transaction”

	 	Section 4.11.5
	“Schedules”

	 	Section 3
	“Sellers”

	 	Introduction

10

 

	 	 	 

	“Seller Indemnitee”

	 	Section 9.3
	“Seller Representative”

	 	Section 9.13.2
	“Source Code”

	 	Section 4.13.4
	“Tax Closing Agreement”

	 	Section 4.11.8
	“Tax Ruling”

	 	Section 4.11.8
	“Third Party Licenses”

	 	Section 4.13.4
	“Third Party Software”

	 	Section 4.13.4
	“Transfer Taxes”

	 	Section 11.2

     2. Purchase and Sale of Equity Interests.

          2.1. Basic Transaction. On and subject to the terms and conditions of this Agreement,
Buyer agrees to purchase from the Sellers, and each Seller agrees to sell to Buyer, all of the
Equity Interests owned by such Seller for the consideration specified below in Section 2.2.

          2.2. Purchase Price. Buyer agrees to pay to the Sellers the aggregate sum of Eighty
Million Dollars ($80,000,000) (the “Purchase Price”) which shall be paid as follows: (a)
Seventy Million Four Hundred Thousand Dollars ($70,400,000) to be paid by Buyer at the Closing to
the Seller Representative on behalf of the Sellers, by wire transfer in immediately available funds
to the account(s) to be designated by the Seller Representative to Buyer at least two (2) Business
Days prior to Closing, (b) Nine Million Five Hundred Thousand Dollars ($9,500,000) to be deposited
by Buyer at the Closing with Escrow Agent, in readily available funds, of which (i) Nine Million
Dollars ($9,000,000) (the “Indemnification Escrow”) shall be held in escrow until April 30,
2012, pursuant to the terms and conditions of the Escrow Agreement, and (ii) Five Hundred Thousand
Dollars ($500,000) (the “Adjustment Escrow,” and together with the Indemnification Escrow,
the “Escrow Fund”) shall be held in escrow, pursuant to the terms and conditions of the
Escrow Agreement and (c) One Hundred Thousand Dollars ($100,000) to be paid by Buyer at the Closing
by wire transfer in immediately available funds to the account to be specified by the Seller
Representative to Buyer at least two (2) Business Days prior to Closing, representing the Seller
Representative Reserve provided for by Section 9.13.4. The Indemnification Escrow shall
secure the Sellers’ indemnification obligations pursuant to Section 9.1 and Section
9.2 of this Agreement, and the Adjustment Escrow shall secure the Sellers’ obligations with
respect to any adjustments to the Purchase Price in accordance with Section 2.3 of this
Agreement.

          2.3. Purchase Price Adjustments.

               2.3.1 Net Working Capital Adjustment. The Purchase Price shall be adjusted (such
adjustment may be positive or negative), if at all, on a dollar-for-dollar basis as set forth
below:

11

 

                    (i) Within two (2) Business Days prior to the Closing, the Sellers shall cause the Company to
prepare and deliver to Buyer an officer’s certificate of the Company that contains a good faith and
reasonable best estimate of the Net Working Capital of the Company as of the close of business on
the Business Day before the Closing Date (the “Estimated Net Working Capital”), the
components of which Estimated Net Working Capital shall be prepared in accordance with the
Accounting Principles. If the Estimated Net Working Capital exceeds the Target Net Working
Capital, then the Purchase Price payable to the Seller Representative on behalf of the Sellers at
the Closing pursuant to Section 2.2 shall be increased by an amount equal to the amount by
which the Estimated Net Working Capital exceeds the Target Net Working Capital (the
“Preliminary Net Working Capital Excess”). If the Estimated Net Working Capital is less
than the Target Net Working Capital, then the Purchase Price payable to the Seller Representative
on behalf of the Sellers at the Closing pursuant to Section 2.2 shall be decreased by an
amount equal to the amount by which the Target Net Working Capital exceeds the Estimated Net
Working Capital (the “Preliminary Net Working Capital Shortfall,” and together with the
Preliminary Net Working Capital Excess, the “Estimated Working Capital Adjustment”).

                    (ii) Within ninety (90) calendar days after the Closing Date, Buyer shall prepare and deliver
to the Seller Representative an unaudited statement of Net Working Capital of the Company as of the
close of business on the Business Day before the Closing Date (the “Statement of Net Working
Capital”) which shall also set forth a calculation of Net Working Capital determined from the
Statement of Net Working Capital (the “Net Working Capital Calculation”) and the amount, if
any, by which the Net Working Capital so determined is less than or greater than the Estimated Net
Working Capital (the “Adjustment Calculation”). The Statement of Net Working Capital, the
Net Working Capital Calculation and the Adjustment Calculation shall be prepared in accordance with
the Accounting Principles, provided that the Statement of Net Working Capital, the Net Working
Capital Calculation and the Adjustment Calculation shall not have footnotes or other audit
disclosures. In the event that the Closing Date does not occur at a financial week- or month-end
for accounting purposes, the Parties shall agree on mutually acceptable roll forward or roll back
procedures.

                    (iii) On or prior to the thirtieth (30th) calendar day following Buyer’s delivery
of the Statement of Net Working Capital, the Net Working Capital Calculation and the Adjustment
Calculation, the Seller Representative may deliver to Buyer a written notice stating in reasonable
detail the Seller Representative’s objections (an “Objection Notice”) to the Statement of
Net Working Capital or the determination of the Net Working Capital Calculation or the Adjustment
Calculation. During such thirty (30) calendar day period, Buyer shall provide the Seller
Representative and its independent accountants and other authorized representatives with access, at
reasonable times and upon reasonable notice, to the Company’s facilities, books and records and its
personnel and accountants. Any Objection Notice shall specify in reasonable detail the dollar
amount of any objection and the reasonable basis therefore. Any determination set forth on the
Statement of Net Working Capital, the Net Working Capital Calculation or the

12

 

Adjustment Calculation
to which the Seller Representative does not object in the Objection Notice shall be deemed
acceptable and shall be final and binding upon the Parties upon delivery of the Objection Notice.
If the Seller Representative does not deliver to Buyer an Objection Notice within such thirty
(30)-day period, then the Statement of Net Working Capital, the Net Working Capital Calculation and
the Adjustment Calculation will be conclusive and binding upon the Parties and the Net Working
Capital Calculation and the Adjustment Calculation set forth with the Statement of Net Working
Capital will constitute the Net Working Capital Calculation and the Adjustment Calculation for
purposes of determining additional amounts to be paid from the Sellers to Buyer or from Buyer to
the Sellers pursuant to Section 2.3.1(v) below.

                    (iv) Following Buyer’s receipt of any Objection Notice, the Seller Representative and Buyer
shall attempt to negotiate in good faith to resolve such dispute. In the event that the Seller
Representative and Buyer fail to agree on any of the Seller Representative’s proposed adjustments
set forth in the Objection Notice within thirty (30) days after Buyer receives the Objection
Notice, the Seller Representative and Buyer agree that an Accounting Arbitrator shall make the
final determination regarding the proposed adjustments set forth in the Objection Notice that are
not resolved by the Seller Representative and Buyer (the “Net Working Capital Disputed
Items”); provided that if the Parties are unable to agree on a Neutral Accounting Firm to act
as Accounting Arbitrator, each of Buyer, on the one hand, and the Seller Representative, on the
other hand, shall select a Neutral Accounting Firm and such firms together shall select the Neutral
Accounting Firm to act as the Accounting Arbitrator. The Buyer and the Seller Representative
shall use reasonable efforts to cause the Accounting Arbitrator to render a decision resolving the
matters in dispute within 30 days following the submission of such matters to the Accounting
Arbitrator. Buyer and the Seller Representative each shall provide the Accounting Arbitrator with
their respective determinations of the Net Working Capital Disputed Items. The Accounting
Arbitrator shall make an independent determination on the Net Working Capital Disputed Items and
the resultant Net Working Capital Calculation that shall be final and binding on the Sellers and
Buyer. The determination of the Net Working Capital Disputed Items by the Accounting Arbitrator
shall be based on whether such Net Working Capital Disputed Items have been calculated in
accordance with the standards set forth in this Agreement, and the Accounting Arbitrator is not to
make any other determination. The Accounting Arbitrator shall not assign a value to any item
greater than the greatest value for such item claimed by Buyer or the Seller Representative or less
than the smallest value for such item claimed by Buyer or the Seller Representative and shall be
limited to the selection of either Buyer’s or the Seller Representative’s position on a disputed
item (or a position in between the positions of Buyer and the Seller Representative) based solely
on presentations and supporting material provided by the Parties and not pursuant to any
independent review. The Accounting Arbitrator shall not impose an alternative resolution outside
the bounds set in the preceding sentence. Buyer and the Seller Representative shall make readily
available to the Accounting Arbitrator all relevant books and records relating to the Net Working
Capital Calculation and all other items reasonably requested by the Accounting Arbitrator. The
fees, costs and expenses of the Accounting Arbitrator shall be paid pro rata by

13

 

each Party in
relation to the proportional difference between the Accounting Arbitrator’s final determination of
the Net Working Capital Calculation (and the other price adjustments called for by this Section
2.3) and each Party’s Net Working Capital Calculation (and such other adjustments).

                    (v) If the Estimated Net Working Capital exceeds the Net Working Capital Calculation, then
Buyer shall have the right to be paid out of the Adjustment Escrow, within five (5) Business Days
of a final determination by the Accounting Arbitrator or expiration of the thirty (30) day period
for the Seller Representative to deliver an Objection Notice, an amount equal to the amount by
which the Estimated Net Working Capital exceeds the Net Working Capital Calculation, together with
interest thereon at the Prime Rate (as of the Closing Date) from the Closing Date to and including
the date of payment. If the Net Working Capital Calculation exceeds the Estimated Net Working
Capital, then Buyer shall pay to the Seller Representative on behalf of the Sellers by wire
transfer of immediately available funds, within five (5) Business Days of a final determination by
the Accounting Arbitrator or expiration of the thirty (30) day period for the Seller Representative
to deliver an Objection Notice, an amount equal to the amount by which the Net Working Capital
Calculation exceeds the Estimated Net Working Capital (Buyer to pay each Seller his or its pro rata
share of such shortfall), together with interest thereon at the Prime Rate (as of the Closing Date)
from the Closing Date to and including the date of payment.

               2.3.2 Cash Adjustment. The Purchase Price shall be further adjusted upward on a
dollar-for-dollar basis by the amount of any Cash held by the Company as of the Business Day before
the Closing Date as set forth below:

                    (i) Within two (2) Business Days prior to the Closing, the Sellers shall cause the Company to
prepare and deliver to Buyer an officer’s certificate of the Company that contains a good faith and
reasonable best estimate of the Cash of the Company as of the close of business on the Business Day
before the Closing Date (“Estimated Closing Date Cash”), which Estimated Closing Date Cash
shall be prepared using the same methodologies provided for in Section 2.3.1(i). The
Purchase Price payable to the Sellers at the Closing pursuant to Section 2.2 shall be
increased by an amount equal to the Estimated Closing Date Cash (the “Estimated Closing Date
Cash Adjustment”).

                    (ii) The Estimated Closing Date Cash shall be reconciled after the Closing Date using the same
methodologies provided for in Section 2.3.1(ii) to determine the actual Cash as of the
Business Day before the Closing Date (“Closing Date Cash Calculation”).

                    (iii) The mechanisms for dispute resolution provided for in Section 2.3.1 shall also
govern any dispute as to the Closing Date Cash Calculation.

                    (iv) If the Estimated Closing Date Cash exceeds the Closing Date Cash Calculation, then Buyer
shall have the right to be paid out of the Adjustment Escrow,

14

 

within five (5) Business Days of a
final determination by the Accounting Arbitrator or expiration of the thirty (30) day period for
the Seller Representative to deliver an Objection Notice, an amount equal to the amount by which
the Estimated Closing Date Cash exceeds the Closing Date Cash Calculation, together with interest
thereon at the Prime Rate (as of the Closing Date) from the Closing Date to and including the date
of payment. If the Closing Date Cash Calculation exceeds the Estimated Closing Date Cash, then
Buyer shall pay to the Seller Representative on behalf of the Sellers by wire transfer of
immediately available funds, within five (5) Business Days of a final determination by the
Accounting Arbitrator or expiration of the thirty (30) day period for the Seller Representative to
deliver an Objection Notice, an amount equal to the amount by which the Closing Date Cash
Calculation exceeds the Estimated Closing Date Cash (Buyer to pay each Seller his or its pro rata
share of such shortfall), together with interest thereon at the Prime Rate (as of the Closing Date)
from the Closing Date to and including the date of payment.

               2.3.3 Debt Adjustment. The Purchase Price shall be adjusted downward on a
dollar-for-dollar basis by the amount of any Indebtedness of the Company as of the Business Day
before the Closing Date as set forth below:

                    (i) Within two (2) Business Days prior to the Closing, the Sellers shall cause the Company to
prepare and deliver to Buyer an officer’s certificate of the Company that contains a good faith and
reasonable best estimate of the Indebtedness of the Company as of the close of business on the
Business Day before the Closing Date (the “Estimated Closing Date Debt”), which Estimated
Closing Date Debt shall be prepared using the same methodologies provided for in Section
2.3.1(i). The Purchase Price payable to the Sellers at the Closing pursuant to Section
2.2 shall be decreased by an amount equal to the Estimated Closing Date Debt (the
“Estimated Closing Date Debt Adjustment”).

                    (ii) The Estimated Closing Date Debt shall be reconciled after the Closing Date using the same
methodologies provided for in Section 2.3.1(ii) to determine the actual Indebtedness as of
the Business Day before the Closing Date (“Closing Date Debt Calculation”).

                    (iii) The mechanisms for dispute resolution provided for in Section 2.3.1 shall also
govern any dispute as to the Closing Date Debt Calculation.

                    (iv) If the Closing Date Debt Calculation exceeds the Estimated Closing Date Debt, then Buyer
shall have the right to be paid out of the Adjustment Escrow, within five (5) Business Days of a
final determination by the Accounting Arbitrator or expiration of the thirty (30) day period for
the Seller Representative to deliver an Objection Notice, an amount equal to the amount by which
the Closing Date Debt Calculation exceeds the Estimated Closing Date Debt, together with interest
thereon at the Prime Rate (as of the Closing Date) from the Closing Date to and including the date
of payment. If the Estimated Closing Date Debt exceeds the Closing Date Debt Calculation, then
Buyer shall pay to the Seller Representative on

15

 

behalf of the Sellers by wire transfer of
immediately available funds, within five (5) Business Days of a final determination by the
Accounting Arbitrator or expiration of the thirty (30) day period for the Seller Representative to
deliver an Objection Notice, an amount equal to the amount by which the Estimated Closing Date Debt
exceeds the Closing Date Debt Calculation (Buyer to pay each Seller his or its pro rata share of
such shortfall), together with interest thereon at the Prime Rate (as of the Closing Date) from the
Closing Date to and including the date of payment.

               2.3.4 Escrow Crossing. In the event that the Adjustment Escrow is not sufficient to
satisfy any amount due to Buyer under this Section 2.3, the Sellers shall promptly, but in
no event later than five (5) Business Days following final resolution of such amount under this
Section 2.3, pay the unpaid balance to Buyer; provided, that in lieu of seeking such
payment from the Sellers, the unpaid balance due may, at the sole discretion of Buyer, be satisfied
promptly upon notice of such election from the Indemnification Escrow. Following final resolution
of the adjustments to Purchase Price pursuant to this Section 2.3 and the payment, if any,
to Buyer of any amount due to Buyer pursuant to this Section 2.3 from the Adjustment
Escrow, the Seller Representative and Buyer shall promptly deliver a joint written instruction to
the Escrow Agent instructing it to release all remaining funds in the Adjustment Escrow to the
Seller Representative on behalf of the Sellers.

          2.4. The Closing. The closing of the transactions contemplated by this Agreement (the
“Closing”) shall take place two (2) days after satisfaction or waiver of all of the
conditions (other than those conditions that by their terms are to be satisfied at the Closing but
subject to the satisfaction or waiver (to the extent permitted hereunder) of such conditions) set
forth in Section 7 (the “Closing Date”), at the offices of Blank Rome LLP located
at 405 Lexington Avenue, New York, New York 10174.

          2.5. Deliveries at the Closing.

               2.5.1 Closing Deliveries by the Sellers. At or prior to the Closing, the Sellers
shall deliver or cause to be delivered to Buyer, and, in the case of the delivery in Section
2.5.1(iii), to Buyer and the Escrow Agent:

                    (i) a statement certified by the chief financial officer or treasurer of the Company setting
forth the Estimated Net Working Capital, the Estimated Closing Date Cash and the Estimated Closing
Date Debt;

                    (ii) an assignment executed and delivered by each Seller of that Seller’s Equity Interests,
which assignment is substantially in the form of the instrument attached to this Agreement as
Exhibit B;

16

 

                    (iii) a counterpart of the Escrow Agreement, duly executed by the Seller Representative;

                    (iv) the resignations, effective as of the Closing, of all of the officers of the Company and
each of its Subsidiaries, except for such Persons as shall have been designated in writing at least
five (5) Business Days prior to the Closing by the Buyer to the Sellers;

                    (v) “payoff” letters or similar releases or confirmations from third parties, in forms
reasonably satisfactory to Buyer, confirming that the Indebtedness of the Company set forth on
Section 2.5.1(v) of the Schedules shall be repaid as of the Closing Date; it being
understood that the Buyer shall cause any such Indebtedness to be paid off as of Closing;

                    (vi) a copy of (i) the certificate of limited partnership, certificate of formation (or other
similar organizational document), as amended, of the Company, certified by the Secretary of State
in its jurisdiction of organization, as of a date not earlier than five (5) Business Days prior to
the Closing and accompanied by a certificate of the Secretary of the Company and the applicable
Subsidiary, dated as of the Closing, stating that no amendments have been made to such certificate
of limited partnership since such date, and (ii) the limited partnership agreement of the Company
(or similar document) and each of its Subsidiaries, certified by the Secretary of the Company and
the applicable Subsidiary;

                    (vii) a good standing certificate for the Company from the Secretary of State in its
jurisdictions of organization and from the Secretary of State in each other jurisdiction set forth
beside the Company’s name on Section 2.5.1(vii) of the Schedules, in each case dated as of
a date not earlier than five (5) Business Days prior to the Closing;

                    (viii) a certificate of the Secretary of the Company certifying the names and signatures of
the officers of the Company authorized to sign this Agreement and the other documents to be
delivered by the Company hereunder and thereunder;

                    (ix) a certificate of non-foreign status (in a form reasonably acceptable to Buyer) pursuant
to Treasury Regulation Section 1.1445-2(b)(2);

                    (x) a certificate executed by the Seller Representative, on behalf of the Sellers, dated as of
the Closing Date certifying to Buyer the satisfaction of the conditions set forth in Section
7.1(i) (the “Seller Closing Certificate”); and

                    (xi) those other documents listed on Section 2.5.1 of the Schedules.

               2.5.2 Closing Deliveries of Buyer. At the Closing, Buyer shall deliver or cause to be
delivered, in the case of the delivery in Section 2.5.2(i) to the Seller Representative

17

 

on
behalf of the Sellers, and in the case of the delivery in Section 2.5.2(ii), to the Seller
Representative and the Escrow Agent:

                    (i) the Purchase Price specified in Section 2.2, minus the Escrow Fund,
plus or minus, as applicable, the Estimated Working Capital Adjustment,
plus the Estimated Closing Date Cash Adjustment, if any, minus the Estimated
Closing Date Debt Adjustment, if any; and

                    (ii) a counterpart of the Escrow Agreement, duly executed by Buyer and the Escrow Agent.

          2.6. Purchase Price Allocation. As soon as practicable after the Closing Date, Buyer
shall prepare and deliver to the Sellers a statement (the “Asset Acquisition Statement”)
allocating the Purchase Price (plus assumed liabilities, if any, to the extent properly taken into
account under Section 1060 of the Code) among the assets of the Company (the “Deemed Purchased
Assets”) as required for United States federal income tax purposes, which shall be prepared in
accordance with the principles set forth in Section 2.6.1 of the Schedules. Buyer shall prepare
and deliver to the Sellers from time to time revised copies of the Asset Acquisition Statement (the
“Revised Statement”) so as to report any matters on the Asset Acquisition Statement that
need updating. The Purchase Price (plus assumed liabilities, if any, to the extent properly taken
into account under Section 1060 of the Code) paid by Buyer for the Deemed Purchased Assets shall be
allocated in accordance with the Asset Acquisition Statement or, if applicable, the last Revised
Statement, provided by Buyer to the Sellers, and all Tax Returns and reports filed by Buyer and the
Sellers shall be prepared consistently with such allocations, unless otherwise required pursuant to
a “determination” within the meaning of Section 1313(a) of the Code or pursuant to any analogous
foreign legislation. The Asset Acquisition Statement and any Revised Statement shall be subject to
the reasonable review and approval of the Sellers. In the event that the Sellers object in writing
to either the Asset Acquisition Statement or any Revised Statement, Buyer and the Sellers shall use
good faith efforts to resolve the dispute within thirty (30) days of the Sellers’ objection. If
Buyer and the Sellers are unable to resolve the dispute within such thirty (30) day period, the
matter or matters in dispute (and only such matters) shall be promptly submitted to the Neutral
Accounting Firm. Within thirty (30) days of the submission of the matter or matters in dispute,
such Neutral Accounting Firm shall render its determination with respect to such matter or matters
in dispute (and only such matters) and such determination shall be binding on both the Sellers and
Buyer. The fees and expenses of such Neutral Accounting Firm shall be borne equally by the
Sellers, on the one hand, and Buyer, on the other hand.

18

 

     3. Representations and Warranties Concerning the Sellers. Each Seller represents and
warrants to Buyer, severally as to itself or himself only and not jointly, except as set forth in
the disclosure schedules delivered to Buyer (the “Schedules”), as of the date hereof, as
follows:

          3.1. Authorization. Such Seller has the full legal capacity to execute and deliver
this Agreement and to perform his or its obligations hereunder. This Agreement has been duly and
validly executed and delivered by such Seller and constitutes the valid and legally binding
obligation of such Seller, enforceable in accordance with its terms and conditions, subject to
applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar
laws affecting creditors’ rights generally and subject, as to enforceability, to general principles
of equity.

          3.2. Ownership of Equity Interests. Such Seller holds and owns the Equity Interests
set forth opposite his or its name on Section 3.2 of the Schedules, which, as of the
Closing Date, are free and clear of any restrictions on transfer, Security Interests, options,
warrants, purchase rights, contracts, commitments, equities, claims, and demands.

          3.3. Noncontravention. Neither the execution and the delivery of this Agreement by
such Seller, nor the consummation of the transactions contemplated hereby, will (i) violate any
constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or
other restriction of any Governmental Authority to which such Seller is subject, or (ii) conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in
any party the right to accelerate, terminate, modify, or cancel, or require any notice under any
material agreement, Contract, lease or License to which such Seller is a party or by which any of
them are bound or to which any of his or its respective assets are subject (or result in the
imposition of any Security Interest upon any of its assets).

          3.4. Broker Fees. Such Seller does not have any liability or obligation to pay any
fees or commissions to any broker, finder, or agent with respect to the transactions contemplated
by this Agreement for which Buyer will become liable or obligated. For purposes of clarification,
all broker fees due to Harris Williams & Co. and in connection with the transactions contemplated
by this Agreement shall be the responsibility and obligation of the Sellers and not the Company.

     4. Representations and Warranties Concerning the Company and its Subsidiaries. The
Company represents and warrants to Buyer, except as set forth in the Schedules, as of the date
hereof, as follows:

          4.1. Organization and Authorization.

               4.1.1 The Company is a limited partnership duly organized, validly existing, and in good
standing under the laws of the State of Pennsylvania; its status is active; and it has the power
and authority to own or lease its properties and to conduct its business as it

19

 

is now being
conducted. The copies of the certificate of limited partnership and limited partnership agreement
of the Company previously made available by the Company to Buyer are true, correct and complete.
The Company is duly licensed or qualified and in good standing as a foreign corporation in each
jurisdiction in which the ownership of its property or the character of its activities requires it
to be so licensed or qualified, except such jurisdictions where the failure to so qualify has not
had a Material Adverse Effect on the Company.

               4.1.2 The Company has the requisite limited partnership power and authority to execute and
deliver this Agreement and to perform the Company’s obligations hereunder. This Agreement has been
duly and validly executed and delivered by the Company and constitutes the valid and legally
binding obligation of the Company, enforceable in accordance with its terms and conditions, subject
to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar
laws affecting creditors’ rights generally and subject, as to enforceability, to general principles
of equity. None of the Company nor its Subsidiaries needs to give any notice to, make any material
filing with, or obtain any material authorization, consent, or approval of any Governmental
Authority in order for the Parties to consummate the transactions contemplated by this Agreement.

               4.1.3 Section 4.1.3 of the Schedules lists the officers of the Company and all of the
directors, members, officers or similar officials, as applicable, of each Subsidiary, as of the
date hereof.

          4.2. Subsidiaries.

                    (i) Set forth on Section 4.2 of the Schedules is a complete and accurate list of each
Subsidiary of the Company. Each Subsidiary of the Company has been duly formed and is validly
existing under the laws of the jurisdiction of its formation and has the requisite power and
authority to own or lease its properties and to conduct its business as it is now being conducted.
The copies of the organizational documents of each Subsidiary of the Company previously made
available by the Company to Buyer are true, correct and complete. The Company owns all of the
capital stock, membership interests or other ownership interest in each of its Subsidiaries.

                    (ii) Each Subsidiary of the Company is duly licensed or qualified and in good standing in each
jurisdiction in which its ownership of property or the character of its activities is such as to
require it to be so licensed or qualified, except such jurisdictions where the failure to so
qualify has not had a Material Adverse Effect on the Company. There are no outstanding or
authorized options, warrants, purchase rights, subscription rights, conversion rights, exchange
rights, or other Contracts or commitments that require any of the Company or its Subsidiaries to
sell, transfer, or otherwise dispose of any partnership interests or membership interests of any of
its Subsidiaries or that require any Subsidiary of the Company

20

 

to issue, sell, or otherwise cause
to become outstanding any of its own capital stock or membership interests.

          4.3. Capitalization.

                    (i) General Partner is the sole general partner of the Company, and the Sellers are all of the
limited partners of the Company. All of the issued and outstanding GP Interests have been validly
issued and are outstanding and are owned beneficially and of record by General Partner, free and
clear of all Security Interests. All of the issued and outstanding LP Interests have been validly
issued and are outstanding and are owned beneficially and of record by the Sellers, free and clear
of all Security Interests. The GP Interests and the LP Interests are the only issued and
outstanding securities or partnership interests of the Company. The aggregate of all of the Equity
Interests set forth on Section 3.2 of the Schedules represents all of the issued and
outstanding partnership interests in the Company.

                    (ii) There are no outstanding or authorized subscriptions, options, warrants, rights
(including preemptive rights, conversion rights and exchange rights), calls, convertible securities
or other agreements or commitments of any character relating to the GP Interests or the LP
Interests obligating the Company to issue any securities of any kind. There are no outstanding or
authorized phantom securities, profit participation or similar rights with respect to the Company
or any of its Subsidiaries. There are no voting trusts, proxies, or other agreements to which any
Seller or the Company is a party with respect to the GP Interests, the LP Interests or any
interests the Company owns in its Subsidiaries.

          4.4. Noncontravention. Neither the execution and the delivery of this Agreement, nor
the consummation of the transactions contemplated hereby, will (i) violate any constitution,
statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other
restriction of any Governmental Authority to which the Company or its Subsidiaries is subject or
any provision of the organizational documents of the Company or any of its Subsidiaries, or (ii)
conflict with, result in a breach of, constitute a default under, result in the acceleration of,
create in any party the right to accelerate, terminate, modify, or cancel, or require any notice
under any material agreement, Material Contract, material lease or material License to which the
Company or its Subsidiaries is a party or by which any of them are bound or to which any of their
respective assets are subject (or result in the imposition of any Security Interest upon any of
their respective assets).

          4.5. Title to Assets. The Company and its Subsidiaries have good and marketable title
to, or a valid leasehold or rental interest in, the tangible properties and assets they purport to
own or lease, or shown on the Most Recent Balance Sheet or acquired, rented or leased after the
date thereof, free and clear of all Security Interests, except for properties and assets disposed
of in the Ordinary Course of Business since the date of the Most Recent Balance Sheet. The Company
and its Subsidiaries own or have valid rights to use, free and clear of all Security Interests, all
of the assets used in the conduct of current business of the Company and its

21

 

 Subsidiaries. Such
assets are sufficient for Buyer to continue to operate the business of the Company and its
Subsidiaries in the same manner as it is currently conducted.

          4.6. Broker Fees. Neither the Company nor its Subsidiaries has any liability or
obligation to pay any fees or commissions to any broker, finder, or agent with respect to the
transactions contemplated by this Agreement for which Buyer will become liable or obligated.

          4.7. Financial Statements; Indebtedness.

               4.7.1 Attached hereto as Section 4.7.1 of the Schedules are the following financial
statements of the Company and its Subsidiaries (collectively the “Financial Statements”):
(i) audited consolidated balance sheets and statements of income, changes in partners’ equity, and
statements of cash flow as of and for the calendar year ended December 31, 2008; (ii) audited
consolidated balance sheets and statements of income, changes in partners’ equity, and statements
of cash flow (the “Most Recent Audited Financial Statements”) as of and for the calendar
year ended December 31, 2009 (the “Most Recent Fiscal Year End”), and (iii) unaudited
consolidated balance sheets as of the fiscal month ended October 30, 2010 and statements of income
and statements of cash flow for the ten (10) month period ended October 30, 2010 (the “Most
Recent Financial Statements”) for the Company and its Subsidiaries. The Financial Statements
(including the notes thereto, where applicable) have been prepared in accordance with GAAP applied
in a manner consistent with the Company’s past practice and on a consistent basis throughout the
periods covered thereby and present fairly in all material respects the financial condition of
Company and its Subsidiaries as of such dates and the results of operations of the Company and its
Subsidiaries for such periods in accordance with GAAP; provided, however, that the Most Recent
Financial Statements lack footnotes, normal year-end reclassifications, adjustments and other
presentation items, which in the aggregate are not material in amount. Other than as set forth in
Section 4.8, the Company makes no other representations with regard to the Financial
Statements. Other than as set forth in this Section 4.7, the Company and its Subsidiaries
make no representations with regard to the financial information of the Company or its Subsidiaries
(including any estimates, projections, plans or budgets).

               4.7.2 The Company has no Indebtedness.

          4.8. No Undisclosed Liabilities. The Company and its Subsidiaries have no Liabilities
of a type required to be reflected on a consolidated balance sheet prepared in accordance with
GAAP, other than (1) Liabilities fully and adequately reflected in the Most Recent Audited
Financial Statements or Most Recent Financial Statements and (2) those incurred since the date of
the Most Recent Audited Financial Statements in the Ordinary Course of Business.

22

 

          4.9. Events Subsequent to Most Recent Fiscal Year End. Since the Most Recent Fiscal
Year End, there has been no Material Adverse Effect on the Company.

               4.9.1 Since the Most Recent Fiscal Year End, none of the Company or its Subsidiaries has:

                    (i) pledged or hypothecated any of its assets or otherwise permitted any of its material
assets to become subject to any Security Interest other than in the ordinary course of business
consistent with past practice;

                    (ii) incurred any material obligation in an amount in excess of $100,000 other than in the
ordinary course of business consistent with past practice;

                    (iii) made any loan or advance to any Person other than in the ordinary course of
business consistent with past practice;

                    (iv) assumed, guaranteed or otherwise become liable for any obligation of any Person (other
than the Company or its Subsidiaries) other than in the ordinary course of business
consistent with past practice;

                    (v) committed for any capital expenditure individually in an amount in excess of $50,000 and
in the aggregate in an amount in excess of $200,000;

                    (vi) purchased, leased, sold, abandoned or otherwise acquired or disposed of any business or
assets other than in the ordinary course of business consistent with past practice;

                    (vii) waived or released any material right or canceled or forgiven any debt or claim
other than in the ordinary course of business consistent with past practice;

                    (viii) discharged any material Security Interest or discharged or paid any indebtedness or
other obligation other than in the ordinary course of business consistent with past
practice;

                    (ix) assumed or entered into any material Contract other than in the ordinary course of
business consistent with past practice other than this Agreement;

                    (x) amended or terminated any material Contract;

                    (xi) materially increased, or authorized a material increase in, the compensation or benefits
paid or provided to any of its directors, officers or employees;

23

 

                    (xii) established, adopted or amended (including any amendment with a future effective date)
any of the Company’s Employee Benefit Plans;

                    (xiii) declared, accrued, set aside, or paid any dividend or made any other distribution in
respect of any Equity Interests of other securities, Cash or other assets;

                    (xiv) repurchased, redeemed or otherwise reacquired any Equity Interests or other securities;

                    (xv) sold or otherwise issued any Equity Interests or any other securities;

                    (xvi) amended its organizational documents;

                    (xvii) been a party to any merger, consolidation, recapitalization, reclassification of
equity, or similar transaction;

                    (xviii) accrued any deferred bonuses or compensation due to any Seller, employee or agent of
the Company or any of its Subsidiaries, or paid any such deferred bonuses or compensation;

                    (xix) changed any of its methods of accounting or accounting practices in any respect;

                    (xx) made any material Tax election; or

                    (xxi) agreed or committed to take any action described in the foregoing clauses.

          4.10. Legal Compliance. Each of the Company and its Subsidiaries is in compliance in
all material respects with all applicable laws (including rules, regulations, codes, plans,
injunctions, judgments, orders, decrees, rulings, and charges thereunder) of federal, state, local,
and foreign governments (and all agencies thereof), and no material action, suit, proceeding,
hearing, investigation, charge, complaint, claim, demand, or notice of any Governmental Authority
is pending against any of them alleging any failure so to comply. Neither the Company nor any
Subsidiary has, since January 1, 2006, received any written communication from any Government
Authority alleging that the Company or any Subsidiary is not in compliance in any material respect
with any law. Notwithstanding the foregoing, no representation or warranty is made under this
Section 4.10 in respect of any (i) employee benefit matters, which are addressed in
Section 4.20 (as to which no representation or warranty is made except as set forth in
Section 4.20), (ii) intellectual property matters, which are addressed in Section
4.13 (as to which no representation or warranty is made except as set forth in Section
4.13), (iii) matters relating to Taxes, which are addressed in Section 4.11 (as to
which no

24

 

representation or warranty is made except as set forth in Section 4.11), (iv)
environmental matters which are addressed in Section 4.21 (as to which no representation or
warranty is made except as set forth in Section 4.21) and (v) employees and independent
contractor matters, which are addressed in Section 4.19 (as to which no representation or
warranty is made except as set forth in Section 4.19).

          4.11. Tax Matters.

               4.11.1 (i) Each of the Company and each Subsidiary has properly and timely filed all material
Tax Returns required to be filed by it, each of which were prepared and completed in all material
respects in compliance with all applicable laws; (ii) each of the Company and each Subsidiary has
paid all material Taxes required to be paid by it (whether or not shown on a Tax Return); (iii)
there are no agreements or waivers currently in effect that provide for an extension of time for
the assessment of any Tax against the Company or any Subsidiary and (iv) no claim has ever been
made by a Taxing Authority in a jurisdiction where a Tax Return is not filed by or on behalf of the
Company or a Subsidiary that the Company or such Subsidiary is subject to Tax in that jurisdiction.

               4.11.2 No audits or other administrative proceedings or court proceedings have ever been
conducted, are presently pending or, to the Knowledge of the Company, threatened with regard to any
Taxes or Tax Return of the Company or the Subsidiaries.

               4.11.3 The Company has made available to Buyer complete copies of (i) all federal, state,
local and foreign Tax Returns of the Company and the Subsidiaries relating to the taxable periods
ending on or after December 31, 2007 and (ii) any audit report issued within the last five years
relating to any material Taxes due from or with respect to the Company or the Subsidiaries.
Neither the Company nor its Subsidiaries files Tax Returns in any foreign jurisdiction.

               4.11.4 There are no liens for Taxes upon any asset or property of the Company or the
Subsidiaries except liens for Taxes not yet due and payable.

               4.11.5 Each of the Company and the Subsidiaries has complied in all material respects with the
provisions of the Code relating to the withholding and payment of Taxes, including, without
limitation, the withholding and reporting requirements under Code sections 1441 through 1464, 3401
through 3406, and 6041 through 6049, as well as similar provisions under any state and local or
other laws, and has, within the time and in the manner prescribed by law, withheld from employee
wages and paid over to the proper Governmental Authorities all amounts required. Each of the
Company and the Subsidiaries has undertaken in good faith to appropriately classify all service
providers as either employees or independent contractors for all Tax purposes. Each of the Company
and the Subsidiaries (i) has withheld and remitted all applicable nonresident partner Taxes to the
appropriate Governmental Authority, (ii) has collected and remitted all applicable sales and/or use
Taxes to the appropriate Governmental

25

 

Authority, or (iii) has obtained, in good faith, any
applicable sales and/or use Tax exemption certificates.

               4.11.6 Each of the Company and the Subsidiaries (i) has disclosed to the IRS on the
appropriate Tax Returns any Reportable Transaction in which it has participated and (ii) has
retained all documents and other records pertaining to any Reportable Transaction in which it has
participated, including documents and other records listed in Treasury Regulation Section
1.6011-4(g) and any other documents or other records which are related to any Reportable
Transaction in which it has participated but not listed in Treasury Regulation Section 1.6011-4(g).
For purposes of this Agreement, the term “Reportable Transaction” means any transaction
listed in Treasury Regulation Section 1.6011-4(b).

               4.11.7 Neither the Company nor any Subsidiary is currently or has ever been a party to or
bound by any contract, agreement or other arrangement (whether or not written) that (i) requires
the Company or such Subsidiary to make any Tax payment to or for the account of any other Person,
(ii) affords any other Person the benefit of any net operating loss, net capital loss, investment
Tax credit, foreign Tax credit, charitable deduction or any other credit or Tax attribute which
could reduce Taxes (including, without limitation, deductions and credits related to alternative
minimum Taxes) of the Company or such Subsidiary or (iii) requires or permits the transfer or
assignment of income, revenues, receipts or gains to the Company or the Subsidiary from any other
Person.

               4.11.8 Neither the Company nor any Subsidiary has received any Tax Ruling or entered into a
Tax Closing Agreement with any Taxing Authority that would have a continuing effect after the
Closing Date. For purposes of the preceding sentence, the term “Tax Ruling” means written
rulings of a Taxing Authority relating to Taxes, and the term “Tax Closing Agreement” means
a written and legally binding agreement with a Taxing Authority relating to Taxes. No power of
attorney currently in force has been granted by the Company or any Subsidiary concerning any Tax
matter.

               4.11.9 None of the Sellers of the Company is a “foreign person” as such term is defined in
Section 1445 of the Code.

               4.11.10 The representations and warranties in this Section 4.11 are the sole and
exclusive representations and warranties of the Company concerning Tax matters.

          4.12. Real Property.

               4.12.1 Neither the Company nor any of its Subsidiaries owns any real property.

               4.12.2 Section 4.12.2 of the Schedules lists all real property leased or subleased to
any of the Company and its Subsidiaries and lists the respective leases and

26

 

subleases. With
respect to each material lease and sublease listed in Section 4.12.2 of the Schedules:

                    (i) the lease or sublease or easement interest is legal, valid, binding, enforceable, and in
full force and effect in all material respects, subject only to any Security Interests that do not
materially interfere with the present uses of such property;

                    (ii) neither the Company nor any of its Subsidiaries and, to the Knowledge of the Company, no
other party to the lease, sublease or easement interest is in material breach thereunder; and

                    (iii) all facilities leased or subleased thereunder have received all material approvals of
Governmental Authorities (including Licenses) required of the Company or its Subsidiaries in
connection with the operation thereof, and have been operated and maintained in accordance with
applicable laws, rules, and regulations in all material respects.

          4.13. Intellectual Property.

               4.13.1 For purposes of this Agreement, “Intellectual Property” means: (i) trademarks,
service marks, trade names, logos, trade dress, domain name registrations and other indicia of
source, whether registered or unregistered, and all registrations and applications for registration
of the foregoing, all renewals of the foregoing, and all associated goodwill; (ii) mask works,
moral rights, works of authorship in any medium of expression, whether or not published, all
copyrights, all registrations and applications for registration of such copyrights, and all
extensions and renewals of copyrights; (iii) patents (including utility and design patents) and
patent applications (including design, utility and provisional patent applications), utility
models, industrial design registrations, and all issuances, divisions, continuations,
continuations-in-part, reissues, extensions, reexaminations and renewals of such patents and
applications; (iv) trade secrets and rights arising under proprietary or confidential information
or know-how, including processes, procedures, techniques, designs, research and development,
computer software source and object code, inventions and invention disclosures (whether or not
patentable or reduced to practice), specifications, customer lists, ideas, methodologies,
algorithms and formulae; (v) domain names and uniform resource locators and registrations for any
of the forgoing; and (vi) all databases and data collection and all rights therein.

               4.13.2 Section 4.13.2 of the Schedules lists all: (i) patents and patent applications
(including all provisional applications, divisions, continuations, continuations in party, patents
of improvement, design patents and registered industrial designs); (ii) copyright registrations and
applications for registration of copyrights; (iii) registered trademarks and applications for
registration of trademarks, and (iv) domain name registrations owned by the Company or any of its
Subsidiaries as of the date hereof (“Registered Intellectual Property”). The Registered
Intellectual Property is owned by the Company or the applicable Subsidiary free and clear of any
Security Interest. All necessary registration, maintenance and renewal fees due

27

 

prior to the
Closing Date in connection with the Registered IP have been made and all necessary documents,
recordations and certificates in connection with maintaining and/or renewing such Registered
Intellectual Property have been filed. To the Knowledge of the Company, there are no facts or
circumstances that exist that would render any of the Company Registered Intellectual Property
invalid or unenforceable. The Company and its Subsidiaries own or have the right to use all
Intellectual Property used in the operation of its business of the Company and its Subsidiaries, it
being understood that the foregoing is not to be construed as a representation or warranty with
respect to infringement, which is the subject of the next sentence in this Section 4.13.2.
None of the Company, its Subsidiaries, or the Proprietary Software, infringe, misappropriate or
otherwise violate the Intellectual Property rights of another Person. None of the Company or any
Subsidiary has any notice of the commencement of any Proceedings instituted against the Company or
any Subsidiary alleging (i) that the Company or any Subsidiary is infringing or otherwise violating
any Person’s Intellectual Property, or (ii) challenging the extent, validity or enforceability of
the Registered Intellectual Property or the Company’s (or the applicable Subsidiary’s) ownership
thereof.

               4.13.3 None of the Proprietary Software has been subject to any proceeding or outstanding
decree, order, judgment, injunction, settlement, opposition, arbitration, mediation, or written
demand or claim, whether brought by a third party by the Company or any of its Subsidiaries. To the
Knowledge of the Company, no circumstances or grounds exist that would give rise to such a dispute
and Company has not sent or received any written notice of any allegations of such a dispute.

               4.13.4 The Proprietary Software is owned by the Company or the applicable Subsidiary free and
clear of any Security Interest. No third party was involved in the creation, design, development,
programming, maintenance, or modification of the Proprietary Software. No Open Source Materials are
imbedded in, bundled with or incorporated in the Proprietary Software. Except for the customer
Contracts identified in Section 4.15 of the Schedules, Company has not entered into any
other Contract that permits any third party to access or use the Proprietary Software. To the
extent such items exist and to Company’s Knowledge, there are no material errors in the technical
documentation, specifications, manuals, user guides, and source language statements associated
with, used or produced in the development of such Proprietary Software. The Company and any of its
Subsidiaries have not granted any exclusive license with respect to, or authorized the retention of
any exclusive rights in or joint ownership of the Proprietary Software. Company and its
Subsidiaries have taken all commercially reasonable steps to protect and safeguard the confidential
and proprietary nature of the Proprietary Software. The Company and its Subsidiaries have not
disclosed the human readable software source code, any portion or aspect thereof, or any
proprietary information or algorithm contained or embedded therein of its Proprietary Software (the
“Source Code”) to any third party. Company has not entered into any Contract that provides
for or requires the escrowing of the Source Code with any third party. The Source Code is
maintained in secure, electronically controlled source code repository systems, and the Company has
undertaken a

28

 

Statement on Auditing Standards (SAS) No. 70 Type 1 audit of its control systems,
which detected no material deficiencies in the Company’s Source Code controls. The Proprietary
Software was developed by employees of the Company or its Subsidiaries in the performance of their
job responsibilities for the Company or the applicable Subsidiary.

               4.13.5 Section 4.13.5 of the Schedules sets forth a list of all third party Software
integrated or incorporated within the ICE, other than the application platform, identified to
Buyer, upon which ICE was developed (the “Third Party Licenses”), setting forth as to each
such item as applicable, the name of the item and the licensor or vendor (collectively, the third
party Software and the application platform shall be referred to as “Third Party
Software”). None of the Company or any Subsidiary has any ongoing obligation of payment with
respect to Third Party Licenses, including by way of example and not limitation, support or
maintenance obligations. None of the Company or the applicable Subsidiary is, and to the Knowledge
of the Company, no counterparty to a Third Party License is in breach of any such Third Party
License, and the consummation of the transactions contemplated hereunder will not constitute a
breach or default under or trigger any right of rescission, renegotiation, cancellation or
termination under any Third Party License.

               4.13.6 The representations contained in this Section 4.13 shall be the exclusive
representations and warranties with respect to intellectual property matters.

          4.14. Information Technology.

               4.14.1 The Company and its Subsidiaries either own or have all the necessary rights to use the
Information Technology as currently used in connection with the operations of the Company and its
Subsidiaries, it being understood that the foregoing is not to be construed as a representation or
warranty with respect to infringement, which is the subject of Section 4.13.2.

               4.14.2 The Company and its Subsidiaries are not in breach of and have not received any notice
alleging that they are in breach of any Contract that provides the Company with the rights to use
such Information Technology.

               4.14.3 The Information Technology is in all material respects adequate for the current
business needs of the Company and its Subsidiaries.

               4.14.4 The Information Technology performs in substantial compliance with the specifications
and documentation for such Information Technology, allowing for defects, errors or interruptions of
service as would not reasonably be expected to have a Material Adverse Effect on the Company.

               4.14.5 The Company and any of its Subsidiaries have the necessary rights to all of its
critical records, systems, controls and/or data used by the Company or any Subsidiary

29

 

to continue
with the operation of its business, and to the extent any such records, systems, controls, and/or
data are hosted by a third party, the Company and/or its Subsidiaries have taken commercially
reasonable efforts to protect such information from further disclosure to other third parties and
to regularly back up such information to protect from data loss.

               4.14.6 The Company has taken commercially reasonable efforts to insure that the Information
Technology, Proprietary Software and/or any component thereof do not contain any virus, malware,
worm or other malicious or disabling code.

               4.14.7 The Company and each of its Subsidiaries have formulated a documented disaster recovery
plan under which each has set out procedures that will be implemented if the Information Technology
or the data stored thereon suffers a material disruption or malfunction. To the Knowledge of the
Company, the disaster recovery plans are sufficient to ensure that any such material disruption or
malfunction does not lead to a Material Adverse Effect on the Company or its Subsidiaries.

          4.15. Material Contracts. Section 4.15 of the Schedules lists the following
Contracts to which any of the Company and its Subsidiaries is a party as of the date hereof
(collectively the “Material Contracts”):

                    (i) any agreement (or group of related agreements) that involves the performance of services
by the Company and its Subsidiaries in exchange for payment in excess of $100,000 and has an
expected duration of not less than twelve (12) months;

                    (ii) any agreement (or group of related agreements) that involves payments by the Company or
any of its Subsidiaries in excess of $100,000 or payments to the Company or any of its Subsidiaries
in excess of $100,000 and has an expected duration of not less than twelve (12) months;

                    (iii) any agreement (or group of related agreements) for the lease or purchase of real
property to or from any Person;

                    (iv) any agreement (or group of related agreements) for the lease of personal property to or
from any Person providing for lease payments in excess of $100,000 per annum and a term of at least
twelve (12) months;

                    (v) any agreement (or group of related agreements) for the purchase or sale of raw materials,
commodities, supplies, products, or other personal property, or for the furnishing or receipt of
services, the performance of which will extend over a period of more than one (1) year and involve
consideration in excess of $100,000;

                    (vi) any agreement concerning a partnership or joint venture;

30

 

                    (vii) any agreement (or group of related agreements) under which it has created, incurred,
assumed, or guaranteed any Indebtedness, or any capitalized lease obligation, or under which it has
imposed a Security Interest on any of its material assets, tangible or intangible;

                    (viii) any material agreement concerning limiting the Company’s ability to compete with any
Person;

                    (ix) any severance for the benefit of its current or former directors, officers, and
employees;

                    (x) any collective bargaining agreement;

                    (xi) any agreement for the employment of any individual or entity on a full-time, part-time,
consulting, or other basis providing annual compensation in excess of $100,000;

                    (xii) any agreement under which it has advanced or loaned any amount to any of its directors,
officers, and employees outside the Ordinary Course of Business;

                    (xiii) any OEM repair and/or refurbishment certifications;

                    (xiv) any prior acquisition, merger or purchase agreements; or

                    (xv) any agreement regarding licensing of, or permitting the use of, Software.

     The Company has delivered or made available to Buyer a correct and complete copy of each
written agreement listed in Section 4.15 of the Schedules (as amended to date). With
respect to each such agreement: (A) the agreement is in full force and effect; (B) the agreement
is a legal, valid, binding and enforceable obligation of the Company or its Subsidiaries (as the
case may be) and to the Company’s Knowledge, is the legal, valid, binding and enforceable
obligation of the other Parties thereto, each subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights
generally; and (C) neither the Company nor any of its Subsidiaries and, to the Knowledge of the
Company, no other party is in material breach or default thereof.

          4.16. Licenses and Authorizations. Section 4.16 of the Schedules contains a
true and correct list of all Licenses of the Company as the date hereof. The Company holds all
Licenses which are material to or necessary for it to own, lease and operate its assets and
properties and conduct its business as heretofore conducted. All such Licenses are in full force
and effect, as of the date hereof, and neither the Company nor any of its Subsidiaries is, as of
the date hereof, in material default (or with the giving of notice or lapse of time or both, would
be in

31

 

default) under any such Licenses. There are no Proceedings pending or, to the Knowledge of
the Company, threatened in writing that seek the revocation, cancellation, suspension or adverse
modification thereof. All required filings with respect to such Licenses have been timely made and
all required applications for renewal thereof have been timely filed. No consent, notice or other
notification is required under any License as a result of the transactions contemplated hereby.
Notwithstanding the foregoing, no representation or warranty is made under this Section
4.16 in respect of any (i) employee benefit matters, which are addressed in Section
4.20 (as to which no representation or warranty is made except as set forth in Section
4.20), (ii) intellectual property matters, which are addressed in Section 4.13 (as to
which no representation or warranty is made except as set forth in Section 4.13), (iii)
matters relating to Taxes, which are addressed in Section 4.11 (as to which no
representation or warranty is made except as set forth in Section 4.11), (iv) environmental
matters which are addressed in Section 4.21 (as to which no representation or warranty is
made except as set forth in Section 4.21) and (v) employees and independent contractor
matters, which are addressed in Section 4.19 (as to which no representation or warranty is
made except as set forth in Section 4.19).

          4.17. Insurance. Section 4.17 of the Schedules sets forth an accurate
description of each insurance policy currently maintained by the Company and its Subsidiaries with
respect to their respective properties, assets and business as of the date hereof. To the
Knowledge of the Company, all of such insurance policies are legal, valid, binding and enforceable
and in full force and effect, and neither the Company nor any of its Subsidiaries is in material
breach or default (or with the giving of notice or lapse of time or both, would be in material
default) with respect to its obligations under such insurance policies (including with respect to
payment of premiums). As of the date hereof, neither the Company nor any of its Subsidiaries has
received (a) any written notice of cancellation or notice of failure to renew of any such insurance
policy or refusal of coverage thereunder, (b) any written notice that any issuer of such policy has
filed for protection under applicable bankruptcy laws or is otherwise in the process of liquidating
or has been liquidated, or (c) any other written notice that such policies are no longer in full
force or effect or that the issuer of any such policy is no longer willing or able to perform its
obligations thereunder.

          4.18. Litigation.

               4.18.1 There is no (i) outstanding order, injunction or any other judgment of any kind
whatsoever of any court, administrative agency, regulatory authority or arbitration tribunal
against the Company or (ii) suit, litigation, arbitration, hearing or any other judicial proceeding
of any kind or nature whatsoever (“Proceedings”) pending, or to the Company’s Knowledge,
threatened in writing, against the Company or any of its Subsidiaries (including any of their
assets or properties). Neither the Company nor any of its Subsidiaries has received any written
notice of any investigation of any Governmental Authority against the Company or any of its
Subsidiaries. True and correct copies of all complaints, pleadings, petitions, notices, motions
and other material papers filed in connection with the Proceedings listed on Section 4.18.1
of the

32

 

Schedules have been delivered to Buyer. There are no Proceedings pending or, to the
Company’s Knowledge, threatened, against the Company which would give rise to any right of
indemnification on the part of any officer, director, employee or agent of the Company or its
Subsidiaries or heirs, executors or administrators thereof against the Company, its Subsidiaries or
any successors.

               4.18.2 Section 4.18.1 of the Schedules sets forth each Proceeding against the Company
or its Subsidiaries since January 1, 2009 that has since been fully adjudicated, settled, resolved
or is otherwise no longer pending as of the Closing Date.

          4.19. Employees and Independent Contractors.

               4.19.1 Section 4.19.1 of the Schedules contains an accurate and complete list of all
of the salaried employees of the Company and each of its Subsidiaries who receive salary in excess
of $100,000 per annum (including any such person who is on a leave of absence or on layoff status)
(“Employees”) and, as of the date hereof, (i) their titles or responsibilities; (ii) their
dates of hire; (iii) their current salaries or wages and all bonuses, commissions and incentives
paid at any time during the past twelve (12) months; (iv) any specific bonus, commission or
incentive plans or agreements for or with them; (v) each Company’s Employee Benefit Plan in which
they participate; and (vi) any outstanding loans or advances made to them.

               4.19.2 Section 4.19.2 of the Schedules contains an accurate and complete list as of
the date hereof of all sales representatives and independent contractors engaged by the Company or
any of its Subsidiaries who receive payments from the Company in excess of $50,000 per annum or who
have been engaged by the Company or its Subsidiaries for the entirety of the twelve-month period
ending on the date hereof and (i) their payment arrangements, and (ii) a brief description of their
jobs or projects currently in progress.

               4.19.3 No employee of the Company or its Subsidiaries has an employment Contract with the
Company.

               4.19.4 The Company and its Subsidiaries are in compliance in all material respects with all
applicable labor and employment laws and regulations. To the Knowledge of the Company, none of the
Company nor any of its Subsidiaries has committed any unfair labor practice. To the Knowledge of
the Company, there is no organizational effort presently being made or threatened by or on behalf
of any labor union with respect to employees of any of Company or any of its Subsidiaries.

               4.19.5 Neither the Company nor any of its Subsidiaries has experienced any material labor
problem including, but not limited to, any strike, slowdown, picketing, boycott or work stoppage.

33

 

               4.19.6 To the Company’s Knowledge, no Employee of the Company or any of its Subsidiaries is a
party to or is bound by any confidentiality agreement, non-competition agreement or other Contract
with any Person other than the Company or its Subsidiaries that would reasonably be expected to
have an adverse effect on the performance by such employee of any of his duties or responsibilities
as an employee of the Company or any of its Subsidiaries.

               4.19.7 As of the date hereof, no Employee of the Company or any of its Subsidiaries has
indicated in writing an intention to terminate or has terminated his or her employment within six
(6) months prior to the date hereof.

               4.19.8 Other than as set forth in Sections 4.8 and 4.19, the representations
contained in this Section 4.19 shall be the exclusive representations and warranties with
respect to employee and independent contractor matters.

          4.20. Employee Benefits.

               4.20.1 Section 4.20.1 of the Schedules contains an accurate and complete list of all
of the Employee Benefit Plans which the Company, or any ERISA Affiliate, sponsors, maintains or
contributes to, is required to contribute to, or has or would reasonably be expected to have any
material liability of any nature with respect to, whether known or unknown, direct or indirect,
fixed or contingent, for the benefit of present or former employees of the Company (referred to
collectively as the “Company’s Employee Benefit Plans” and individually as a “Company’s
Employee Benefit Plan”). Accurate and complete copies of all of the Company’s Employee Benefit
Plans have been made available to Buyer as well as the most recent determination letter issued, if
any, or if none, IRS opinion or advisory letter issued with respect to a Company’s Employee Benefit
Plan that is intended to be a qualified plan within the meaning of Section 401(a) of the Code, all
pending applications for rulings, determination letters, opinions, no action letters and similar
documents filed with any governmental agency (including the Department of Labor and the IRS),
current summary plan descriptions, service agreements, stop loss insurance policies, and all
related contracts and documents (including, but not limited to, all compliance reports and testing
results for the past three years, employee summaries and material employee communications), all
closing letters, audit finding letters, revenue agent findings and similar documents. None of the
Company’s Employee Benefit Plans is subject to Title IV of ERISA or Code Section 412. None of the
Company’s Employee Benefit Plans is a Multiple Employer Plan or Multiemployer Plan under Code
Section 413(c) or 414(f). None of the Company’s Employee Benefit Plans provides a self-insured
benefit. No employer, other than the Company or an ERISA Affiliate, is permitted to participate or
participates in the Company’s Employee Benefit Plans and no leased employees (as defined in
Section 414(n) of the Code) or independent contractors are eligible for, or participate in, the
Company’s Employee Benefit Plans. None of the Company’s Employee Benefit Plans promises or
provides health, life or other welfare benefits to retirees or former employees, or severance
benefits, except as required by

34

 

Code Section 4980B, Sections 601 through 609 of ERISA, or
comparable state statutes which provide for continuing health care coverage.

               4.20.2 Neither the Company nor any ERISA Affiliate has (i) proposed any Employee Benefit Plan
which it plans to establish, sponsor, maintain or to which it will be required to contribute, or
(ii) proposed any material changes to any of the Company’s Employee Benefit Plans now in effect.
Each of the Company’s Employee Benefit Plans that provides a self-insured health benefit is subject
to a stop-loss insurance policy in which the Company is an insured party and no facts exist which
would form the basis for any denial of coverage under such policy.

               4.20.3 With respect to the Company’s Employee Benefit Plans, the Company and each ERISA
Affiliate will have made, on or before the Closing Date, all contributions to (including premium
payments with respect to insurance policies), and payments from each of the Company Employee
Benefit Plans required to be made on or before the Closing Date.

               4.20.4 The Company has made available to Buyer an accurate and complete copy of the three most
recent Annual Reports (Form 5500 series), accompanying schedules and any other form or filing
required to be submitted to any governmental agency with regard to each of the Company’s Employee
Benefit Plans and the most current actuarial report, if any, with regard to each of the Company’s
Employee Benefit Plans.

               4.20.5 All of the Company’s Employee Benefit Plans are, and have been, operated in material
compliance with their provisions and with all applicable laws including ERISA and the Code and the
regulations and rulings thereunder. With respect to each of the Company’s Employee Benefit Plans
that is intended to be qualified under Section 401(a), each such plan has been determined by the
IRS to be so qualified as to form, and each trust forming a part thereof has been determined by the
IRS to be exempt from tax pursuant to Section 501(a) of the Code, and with respect to each of the
Company’s Employee Benefit Plans that is intended to be a “voluntary employees’ beneficiary
association” within the meaning of Section 501(c)(9) of the Code, each such association has been
determined by the IRS to have such status. To the Knowledge of the Company, no reason exists that
would cause such qualified or Section 501(c)(9) status to be revoked for any period. The Company,
its ERISA Affiliates, and all fiduciaries of the Company’s Employee Benefit Plans have materially
complied with the provisions of the Company’s Employee Benefit Plans and with all applicable laws
including ERISA and the Code and the regulations and rulings thereunder. None of Company’s
Employee Benefit Plans is a “MEWA” as defined in Section 3(40)(A) of ERISA. No non-exempt
prohibited transaction under Section 406 or 407 of ERISA or Section 4975 of the Code has occurred
with respect to any of Company’s Employee Benefit Plans.

               4.20.6 Neither the execution and delivery of this Agreement nor the consummation of the
transactions contemplated hereby will (i) result in any payment (including

35

 

any severance,
unemployment compensation or golden parachute payment) becoming due from the Company or any ERISA
Affiliate under any of the Company’s Employee Benefit Plans, (ii) increase any benefits otherwise
payable under any of the Company’s Employee Benefit Plans, or (iii) result in the acceleration of
the time of payment or vesting of any such benefits to any extent.

               4.20.7 There are no pending actions, claims or lawsuits that have been filed against any of
the Company’s Employee Benefit Plans, the assets of any of the trusts under such plans, the plan
sponsor, the plan administrator or any fiduciary of any such plan (other than routine benefit
claims). To the Knowledge of the Company, there are no facts which could reasonably form the basis
for any such action, claim or lawsuit. There are no investigations or audits by any government
agency of any of the Company’s Employee Benefit Plans, any trusts under such plans, the plan
sponsor, the plan administrator or any fiduciary of any such plan that have been instituted or
threatened.

               4.20.8 The Company and/or its ERISA Affiliates can terminate each of the Company’s Employee
Benefit Plans without further material liability to the Company and/or its ERISA Affiliates. No
action or omission of the Company, or any ERISA Affiliate, or any director, officer, or agent
thereof in any way restricts, impairs or prohibits the Company or any ERISA Affiliate, or any
successor, from amending, merging, or terminating any of the Company’s Employee Benefit Plans in
accordance with the express terms of any such plan and applicable law.

               4.20.9 To the Knowledge of the Company, no event has occurred nor is reasonably likely to
occur which will result in the Company having any material liability in connection with any
Employee Benefit Plans of any ERISA Affiliate.

               4.20.10 Each of the Company’s Employee Benefit Plan that is a “nonqualified deferred
compensation plan” (as defined for purposes of Section 409A(d)(1) of the Code) is in material
compliance with Section 409A of the Code and the rules and regulations issued thereunder as to both
form and operation. No stock option or equity unit option granted under any of the Company’s
Employee Benefit Plans has an exercise price that was less than fair market value of the underlying
stock or equity unit (as the case may be) as of the date such option or unit was granted or has any
feature for the deferral of compensation that would render the grant subject to Section 409A of the
Code. No Company Employee Benefit Plan triggers the imposition of Taxes under Section 409A of the
Code and Company is not a party to, and is not otherwise obligated under, any contract, plan or
arrangement that provides for the gross-up of the Taxes imposed by section 409A(a)(1)(B) of the
Code.

               4.20.11 Effective immediately preceding the Closing Date, the General Partner shall have duly
adopted a resolution terminating the Touchstone Wireless Repair and Logistics, LP 401(k) Retirement
Plan.

36

 

               4.20.12 The representations contained in this Section 4.20 shall be the exclusive
representations and warranties with respect to employee benefit matters.

          4.21. Environment, Health and Safety Matters.

               4.21.1 Each of the Company and its Subsidiaries is and has been in compliance for the past
five years in all material respects with all Environmental Laws, except for such non-compliance
that has been resolved in all material respects.

               4.21.2 Without limiting the generality of the foregoing, each of the Company and its
Subsidiaries has obtained, has complied in all material respects with, and is in compliance in all
material respects with, all permits and approvals under Environmental Law required for the
operation of its business as currently and formerly conducted, and all such permits and approvals
are in full force and effect.

               4.21.3 None of the Company nor its Subsidiaries, has received any written notice of any actual
or alleged material violation by the Company or its Subsidiaries of Environmental Laws from any
Governmental Authority or any other person, or any material liabilities or potential liabilities of
the Company or its Subsidiaries arising under or related to Environmental Laws (including but not
limited to liabilities arising in connection with employee exposure to Hazardous Materials,
personal injury, damage to real property, natural resource damage and response costs), except for
such violations and liabilities that have been resolved in all material respects.

               4.21.4 There are no material claims arising under or related to Environmental Laws
(“Environmental Claims”) pending or, to the Knowledge of the Company, threatened against
the Company or its Subsidiaries, or against any person whose liability for any such Environmental
Claim has been retained or assumed by the Company or its Subsidiaries. None of the Company nor its
Subsidiaries has treated, stored, disposed of, arranged for or permitted the disposal of,
transported, handled, or released any Hazardous Materials, or owned or operated any property or
facility in a manner that has resulted in any material, unresolved Environmental Claims or, to the
Knowledge of the Company, would result in any material Environmental Claims, including any
liability for employee exposure to Hazardous Materials, response costs, personal injury, property
damage, natural resources damages or attorney fees, pursuant to Environmental Laws.

               4.21.5 Neither this Agreement nor the consummation of the transaction that is the subject of
this Agreement will trigger any requirement under Environmental Laws for site investigation or
cleanup, or notification to or consent of Governmental Authority or third parties, pursuant to any
of the so-called transaction-triggered or responsible property transfer Environmental Laws.

37

 

               4.21.6 Notwithstanding any other provisions of this Agreement, Section 4.21
contains the Sellers’ and the Company’s sole representations and warranties regarding environmental
matters, including any matters related to Environmental Laws, Environmental Claims, and Hazardous
Materials.

          4.22. Accounts Receivable. Section 4.22 of the Schedules sets forth the
Company’s accounts receivable outstanding as of the date hereof, presented on an aged basis, and
separately identifies the name of each account debtor and the total amount of each related accounts
receivable. All of the Company’s accounts receivable represent bona fide amounts owed for
products previously delivered or services previously rendered, and none of the Company’s accounts
receivable represent a billing for products or services not yet delivered. All of the Company’s
accounts receivable are valid receivables and are current and, to the Company’s Knowledge,
collectible. Except to the extent reserved against or reflected on the Financial Statements, to
the Knowledge of the Company, there is no reason why the Company’s accounts receivable would not be
collectible in the Ordinary Course of Business.

          4.23. Customers and Suppliers.

               4.23.1 Section 4.23.1 of the Schedules sets forth, as of the date hereof, the top
ten (10) customers of the Company as measured by gross revenue since January 1, 2010. No such top
ten customer of the Company has cancelled or otherwise terminated, or, to the Company’s Knowledge,
threatened in writing to cancel, terminate or otherwise adversely modify in any material respect,
its relationship with the Company or has during the last twelve (12) months decreased materially,
or, to the Company’s Knowledge, threatened in writing to decrease or limit its usage of the
services or products of the Company, in each case whether as a result of the transactions
contemplated hereby or otherwise. Neither the Company nor, to the Knowledge of the Company, any
such customer, has materially breached any Contract between them, except where such breach has been
cured as of the date of this Agreement.

               4.23.2 Section 4.23.2 of the Schedules sets forth, as of the date hereof, the top
ten (10) suppliers of the Company as measured by purchases since January 1, 2010. The Company has
no sole source suppliers. No such top ten supplier of the Company has cancelled or otherwise
terminated, or, to the Company’s Knowledge, threatened in writing to cancel, terminate or otherwise
adversely modify in any material respect, its relationship with the Company or has during the last
twelve (12) months decreased materially, or, to the Company’s Knowledge, threatened in writing to
decrease or limit materially, its services, supplies or materials to the Company, in each case
whether as a result of the transactions contemplated hereby or otherwise. Neither the Company nor,
to the Knowledge of the Company, any such supplier, has materially breached any Contract between
them except where such breach has been cured as of the date of this Agreement.

               4.23.3 Section 4.23.3 of the Schedules sets forth all of the OEM repair and/or
refurbishment certifications of the Company as of the date hereof. No OEM has cancelled

38

 

or
otherwise terminated, or, to the Company’s Knowledge, threatened in writing to cancel or otherwise
terminate or otherwise adversely modify in any material respect, its relationship with the Company
or has during the last twelve (12) months decreased materially, or, to the
Company’s Knowledge, threatened in writing to decrease or limit materially, Company’s
authority to repair and/or refurbish products, in each case whether as a result of the transactions
contemplated hereby or otherwise.

          4.24. Inventory. All inventory of the Company and its Subsidiaries as shown on
the Most Recent Balance Sheet (the “Company Inventory”) is (i) in good and merchantable
condition and (ii) of a quality and quantity usable, leasable or saleable in the ordinary course of
business, except as to inventory for which adequate reserves have been provided in accordance with
GAAP. The aggregate value of the Company Inventory, net of reserves for excess and obsolete
inventory, has been recorded at the lower of cost or market value in accordance with GAAP.
Section 4.24 of the Schedules includes an estimate of the reserve for excess and obsolete
inventory as of the Closing in accordance with GAAP. Section 4.24 of the Schedules also
includes the Company’s good faith best estimate, as of the date hereof (which estimate shall be
updated as of a date within ten (10) days prior to the Closing), of all amounts of inventories in
transit to the Company’s facilities but not otherwise included in the Company Inventory. The
Company and its Subsidiaries own or owned all right, title and interest in and to such Company
Inventory, subject to the Security Interests described on Section 4.24 of the Schedules,
all of which Security Interests shall be released at or prior to Closing.

          4.25. Certain Business Relationships With the Company and its Subsidiaries. None
of the Sellers nor its Affiliates (other than the Company or its Subsidiaries) is or has been
involved in any material business arrangement or relationship with any of the Company or its
Subsidiaries (apart from ordinary course employment relationships), and none of the Sellers nor its
Affiliates owns any material asset, tangible or intangible, which is used in the business of any of
the Company and its Subsidiaries.

          4.26. Product Warranties; Latent Defects. There exists no pending or, to the
Knowledge of the Company, threatened, Proceeding by or before any court or Governmental Authority
relating to any product or service alleged to have been distributed, completed or sold by the
Company or its Subsidiaries to others. There exists no pending or, to the Knowledge of the
Company, threatened product liability Proceedings relating to the business of the Company and its
Subsidiaries.

          4.27. Illegal Payments. None of the Company, any of its Subsidiaries nor any of
their respective directors, officers, employees or agents, has directly or indirectly given or
agreed to give any illegal gift, contribution, payment or similar benefit to any supplier,
customer, governmental official or employee or other Person to assist in connection with any actual
or proposed transaction or made or agreed to make any illegal contribution, or reimbursed any
illegal political gift or contribution made by any other Person, to any candidate for federal,
state,

39

 

local or foreign public office, (A) which violates any applicable law, including but not
limited to, the Foreign Corrupt Practices Act of 1977, as amended, or might subject Buyer to any
damages or penalties in any civil, criminal or governmental litigation or proceeding, or (B) the
non-continuation of which has had or may reasonably be likely to have a Material Adverse Effect on
the Company and its Subsidiaries.

          4.28. Bank Accounts; Power of Attorney. Section 4.28 of the Schedules
sets forth (i) the name of each bank in which the Company or any Subsidiary has an account or safe
deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and
(ii) the names of all Persons, if any, holding powers of attorney from the Company or any
Subsidiary and a summary statement of the terms thereof.

          4.29. State Takeover Statutes. No “control share acquisition,” “fair price” or
other anti-takeover regulations enacted under state law or laws in the United States apply to this
Agreement or the other transactions contemplated hereby. If any anti-takeover statute is or shall
become applicable to this Agreement or other transactions contemplated hereby, the Sellers shall
grant, or the Seller Representative shall cause the Company to grant, such approvals and take such
actions as are reasonably necessary so that the transactions contemplated hereby may be consummated
as promptly as practicable on the terms contemplated hereby and otherwise act to eliminate or
minimize the effects of such statute or regulation on the transactions contemplated hereby. No
anti-takeover provision in any governing documents of the Company is applicable to this Agreement
or the other transactions contemplated hereby.

          4.30. No Limitation. No investigation or due diligence conducted by, or knowledge
obtained by, Buyer shall limit, modify or negate any of the foregoing representations and
warranties.

EXCEPT AS SPECIFICALLY AND EXPRESSLY SET FORTH IN SECTIONS 3 AND 4 HEREOF, (I) NONE OF THE SELLERS,
THE COMPANY OR THEIR RESPECTIVE AFFILIATES OR REPRESENTATIVES MAKES ANY REPRESENTATION OR
WARRANTIES OF ANY KIND OR NATURE WITH RESPECT TO THE COMPANY, ITS SUBSIDIARIES OR THEIR RESPECTIVE
BUSINESSES OR THE MATTERS CONTEMPLATED HEREBY, AND (II) ALL WARRANTIES (WHETHER WRITTEN OR ORAL,
EXPRESS OR IMPLIED) IN REGARD TO MERCHANTIBILITY, FITNESS FOR A PARTICULAR PURPOSE, CONDITION OR
DESIGN OR ARISING FROM A COURSE OF DEALING OR USAGE OF TRADE OR OTHERWISE ARE EXPRESSLY EXCLUDED.
BUYER ACKNOWLEDGES AND AGREES THAT IT IS NOT RELYING ON ANY STATEMENT OR REPRESENTATION MADE BY OR
ON BEHALF OF THE SELLER, THE COMPANY, ITS SUBSIDIARIES OR THEIR RESPECTIVE AFFILIATES OR
REPRESENTATIVES EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF THE SELLERS AND THE COMPANY
SPECIFICALLY SET FORTH IN SECTIONS 3 OR 4 HEREOF. BUYER FURTHER ACKNOWLEDGES THAT NONE OF THE
SELLERS, THE

40

 

COMPANY, ITS SUBSIDIARIES OR ANY OTHER PERSON OR ENTITY WILL HAVE OR BE SUBJECT TO ANY
LIABILITY TO BUYER RESULTING FROM THE DISTRIBUTION TO BUYER OR ITS REPRESENTATIVES OR BUYER’S USE
OF ANY INFORMATION REGARDING THE COMPANY, ITS SUBSIDIARIES OR THEIR RESPECTIVE BUSINESSES NOT
EXPRESSLY SET FORTH IN THIS AGREEMENT, INCLUDING ANY PROJECTIONS OR OTHER INFORMATION PROVIDED BY
ANY SELLER, THE SELLER REPRESENTATIVE, THE COMPANY OR ITS SUBSIDIARIES OR BY ANY OF THEIR
REPRESENTATIVES OR AGENTS.

     5. Representations and Warranties of Buyer. Each of BPNA and BPGP represents and
warrants to the Sellers, except as set forth in the schedule delivered to the Sellers (the
“Buyer Schedules”), as follows:

          5.1. Organization of BPNA. BPNA is a limited partnership duly organized, validly
existing, and in good standing under the laws of the State of Delaware; its status is active; and
it has the corporate power and authority to own or lease its properties and to conduct its business
as it is now being conducted. The copies of the certificate of limited partnership and limited
partnership agreement of BPNA previously made available by BPNA to the Sellers are true, correct
and complete. BPNA is duly licensed or qualified and in good standing as a foreign entity in each
jurisdiction in which the ownership of its property or the character of its activities requires it
to be so licensed or qualified, except such jurisdictions where the failure to so qualify has not
had a Material Adverse Effect on BPNA.

          5.2. Organization of BPGP. BPGP is a limited liability company duly organized,
validly existing, and in good standing under the laws of the State of Indiana; its status is
active; and it has the corporate power and authority to own or lease its properties and to conduct
its business as it is now being conducted. BPGP is duly licensed or qualified and in good standing
as a foreign entity in each jurisdiction in which the ownership of its property or the character of
its activities requires it to be so licensed or qualified, except such jurisdictions where the
failure to so qualify has not had a Material Adverse Effect on BPGP.

          5.3. Authorization of Transaction. Each of BPNA and BPGP has full corporate
power and authority to execute and deliver this Agreement and to perform its respective obligations
hereunder. This Agreement has been duly and validly executed and delivered by each of BPNA and
BPGP and constitutes the valid and legally binding obligation of each of BPNA and BPGP, enforceable
in accordance with its terms and conditions, subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights
generally and subject, as to enforceability, to general principles of equity. Except as set forth
on Section 5.3 of the Schedules, neither of BPNA or BPGP needs to give any notice to, make
any filing with, or obtain any authorization, consent, or approval of any Governmental Authority or
other third party in order to consummate the transactions contemplated by this Agreement.

41

 

          5.4. Noncontravention. Neither the execution and the delivery of this Agreement,
nor the consummation of the transactions contemplated hereby, will (A) violate any constitution,
statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other
restriction of any Governmental Authority to which either of BPNA or BPGP is subject or any
provision of its charter or bylaws or (B) conflict with, result in a breach of, constitute a
default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify, or cancel, or require any notice under any material agreement, contract, lease
or License to which either BPNA or BPGP is a party or by which it is bound or to which any of its
assets is subject (or result in the imposition of any Security Interest upon any of its assets),
except in each case for violations, breaches, defaults, required consents, terminations,
accelerations, Security Interests or
rights that in the aggregate would not reasonably be expected to have a material adverse
effect on BPNA or BPGP.

          5.5. Broker Fees. Each of BPNA and BPGP does not have any liability or obligation
to pay any fees or commissions to any broker, finder, or agent with respect to the transactions
contemplated by this Agreement for which Sellers will become liable or obligated. For purposes of
clarification, all broker fees due to The Blackstone Group and in connection with the transactions
contemplated by this Agreement shall be the responsibility and obligation of Buyer and not the
Sellers.

          5.6. Litigation. There is no action, suit, review, proceeding or investigation
pending or, to the knowledge of Buyer, threatened (a) against Buyer or any of its Affiliates with
respect to which there is a reasonable likelihood of a determination that would have a material
adverse effect on the ability of Buyer to perform its obligations under this Agreement, or (b) that
seeks to enjoin or obtain damages in respect of the consummation of the transactions contemplated
hereby. Neither Buyer nor any of its Affiliates is subject to any outstanding orders, rulings,
judgments, or decrees that would have a material adverse effect on the ability of Buyer to perform
its obligations under this Agreement.

          5.7. Purchase for Investment. Buyer is purchasing the securities being purchased
by it pursuant to Section 2 hereof for investment and not with a view to any public resale
or other distribution thereof, except in compliance with applicable securities laws including the
Securities Act of 1933, as amended.

          5.8. Sufficient Financing. As of the Closing, Buyer will have the financial
capability, pursuant to its existing credit facilities, to purchase the Equity Interests and
consummate the transactions contemplated by this Agreement on the terms and subject to the
conditions set forth herein. Buyer has no reason to believe that there are any conditions to the
payment of such cash which might not be satisfied by Buyer as of the date hereof and as of the
Closing.

          5.9. No Knowledge of Misrepresentation or Omission. Buyer has no knowledge that
the representations and warranties of either the Company or each Seller made in

42

 

this Agreement
qualified as to materiality are not true and correct, or that those not so qualified are not true
and correct in all material respects.

          5.10. Investigation; No Reliance. Buyer acknowledges and agrees that it (a) has
made its own inquiry and investigation into, and based thereon has formed an independent judgment
concerning, the Company and its Subsidiaries, their business and the transactions contemplated
hereby. Buyer is knowledgeable about the industry in which the Company and its Subsidiaries
operate and is capable of evaluating the merits and risks of its purchase of the Equity Interests
as contemplated by this Agreement and is able to bear the substantial economic risk of such
investment for an indefinite period of time. Buyer has been afforded access to the books and
records, facilities and personnel of the Company and its Subsidiaries for purposes of conducting a
due diligence investigation of the Company and its Subsidiaries and has been furnished with or
given access to such information about the Company and its Subsidiaries as it
has requested, all to the satisfaction of Buyer. Buyer acknowledges, without limiting the
foregoing, that neither any Seller nor the Company is making any representation or warranty with
respect to (a) except as otherwise expressly set forth in Sections 3 and 4 hereof,
any information made available to Buyer or its representatives in the “data room” created for
purposes of the sale of the Company or (b) any financial projections, estimates or forecasts
relating to the Company or its Subsidiaries. With respect to any such projections, estimates or
forecasts delivered or made available by or on behalf of the Company or any Seller, Buyer
acknowledges that (a) there are uncertainties inherent in attempting to make projections, estimates
or forecasts, (b) it is familiar with such uncertainties, (c) it is taking full responsibility for
making its evaluation of the adequacy and accuracy of such projections, estimates and forecasts so
furnished to it (including the reasonableness of the assumptions underlying such projections,
estimates or forecasts) and (d) it shall make no claim against the Sellers (or any of their
partners, directors, officers, employees, advisors, managers, agents, shareholders, members,
consultants, investment bankers, brokers, representatives, controlling persons or affiliates) or
any other person with respect thereto.

     6. Covenants of the Sellers Prior to the Closing Date.

          6.1. Access and Investigation.

                    (i) Between the date of this Agreement and the Closing Date, the Sellers and the Company
shall (a) afford Buyer and its representatives, upon reasonable advance notice, reasonable access
to the Contracts and books and records of the Company during regular business hours or at such
other time agreed to by Buyer and the Seller Representative, and (b) furnish Buyer with such
additional financial, operating, and other data and information relating to the Company as Buyer
reasonably requests. The foregoing access rights shall not include the right to (i) take any
samples or conduct other invasive environmental investigations, (ii) have access to any information
the disclosure of which is restricted by contract or applicable law (including without limitation
the Health Insurance Portability and Accountability Act of

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1996 or the regulations issued
thereunder) or which would result in the waiver of any privileges. Buyer and its representatives
and agents shall not contact or hold discussions with suppliers, customers or any officers or
employees of the Company or its Subsidiaries without the prior written consent of the Company (such
consent not to be unreasonably withheld).

                    (ii) All information made available or obtained pursuant to Section 6.1.1 shall be
held by Buyer in accordance with, and subject to the terms of the Confidentiality Agreement,
effective as of July 23, 2010, by and between the Company and Buyer, as amended by the First
Amendment thereto, effective August 9, 2010 (the “Confidentiality Agreement”). The Parties
hereby agree that, notwithstanding anything to the contrary contained in the Confidentiality
Agreement, the Confidentiality Agreement shall survive from the date hereof until the Closing, and
if the Closing shall occur, the Confidentiality Agreement shall terminate at Closing.

          6.2. Operation of the Business. Between the date hereof and the earlier of the
Closing Date and the termination of this Agreement pursuant to or in accordance with Section
10
hereof, except as otherwise contemplated by this Agreement or otherwise taken with the prior
written consent of Buyer (not to be unreasonably withheld), the Company shall:

                    (i) conduct the business of the Company substantially in the ordinary course of business
consistent with past practice;

                    (ii) comply in all material respects with all requirements of all applicable laws;

                    (iii) use commercially reasonable efforts to preserve intact its current business
organization, keep available the services of its current employees and agents, and maintain
business relations and goodwill with suppliers, customers, landlords, creditors, employees, agents,
licensees, clients and others having business relationships with it;

                    (iv) otherwise report periodically to Buyer, at Buyer’s reasonable request, concerning
operations of the Company;

                    (v) not permit, allow or suffer any asset of the Company to become subjected to any
Security Interest other than in the ordinary course of business or except to the extent any such
Security Interest is to be released or fully discharged at or prior to Closing;

                    (vi) except as set forth on Section 6.2(vi) of the Schedules, not commit for any
capital expenditure individually in an amount in excess of $50,000 and in the aggregate in an
amount in excess of $200,000;

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                    (vii) not pledge or hypothecate any of its assets or otherwise permitted any of its
material assets to become subject to any Security Interest other than in the ordinary course of
business consistent with past practice;

                    (viii) except as set forth on Section 6.2(viii) of the Schedules, incur any
material obligation in an amount in excess of $100,000 other than in the ordinary course of
business consistent with past practice;

                    (ix) not make any loan or advance to any Person other than in the ordinary
course of business consistent with past practice;

                    (x) not assume, guarantee or otherwise become liable for any obligation of any Person
(other than the Company or its Subsidiaries) other than in the ordinary course of
business consistent with past practice;

                    (xi) not purchase, lease, sell, abandoned or otherwise acquire or dispose of any business
or material assets other than in the ordinary course of business consistent with past
practice;

                    (xii) not waive or release any material right or canceled or forgiven any debt owed to the
Company or claim of the Company other than in the ordinary course of business consistent
with past practice;

                    (xiii) except as set forth on Section 6.2(xiii) of the Schedules, not amend or
terminate any material Contract other than in the ordinary course of business;

                    (xiv) not sell or otherwise issue any Equity Interests or any other securities;

                    (xv) not amend its organizational documents;

                    (xvi) not be a party to any merger, consolidation, recapitalization, reclassification of
equity, or similar transaction;

                    (xvii) not declare, accrue, set aside, or pay any dividend or make any other distribution
in respect of any Equity Interests of other securities, Cash or other assets;

                    (xviii) not make any material Tax election;

                    (xix) not increase Liabilities with respect to any of the Company’s Employee Benefit Plans
or become obligated to contribute to any Employee Benefit Plan not included on Section
4.20.1 of the Schedules; and

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                    (xx) not agree or commit to take any action described in the foregoing clauses.

          6.3. Commercially Reasonable Efforts. Between the date of this Agreement and the
Closing Date, the Company, its Subsidiaries, the Sellers and Buyer shall use commercially
reasonable efforts to take all action and to do all things necessary, proper or advisable in order
to consummate and make effective the transactions contemplated by this Agreement (including
satisfaction, but not waiver, of the closing conditions set forth in Section 7); provided,
however, that except as explicitly set forth in Section 6.4, the Parties shall not be
required to take any action, including paying or committing to pay any amount to (or incurring any
obligation in favor of) any person from whom such consent may be required. Buyer acknowledges that
certain consents and waivers with respect to the transactions contemplated hereby may be required
from parties to Contracts or other agreements, contracts or licenses of the Company or its
Subsidiaries, that such consents and waivers have not been obtained as of the date hereof and may
not be obtained prior to the Closing, and that so long as the Company has made commercially
reasonable efforts to obtain material consents requested by the Buyer prior to the Closing, no
representation, warranty or covenant of the Sellers or the Company contained herein shall be deemed
breached, and, other than the documents listed on Section 2.5.1 of the Schedules, to be
delivered by the Sellers pursuant to Section 7.1(v), no condition shall be deemed to not have been
satisfied, as a result of the failure to obtain any such consent or waiver or the consequences
thereof.

          6.4. Consents and Approvals.

                    (i) Each of Buyer, the Company and the Sellers shall use its commercially reasonable
efforts to (i) obtain from any Governmental Authority any consents,
licenses, permits, waivers, clearances approvals, authorizations or orders required to be
obtained or made by the Company, Sellers or Buyer or any of their respective Subsidiaries, or avoid
any action or proceeding by any Governmental Authority (including, without limitation, those in
connection with the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR
Act”) in connection with the authorization, execution and delivery of this Agreement and the
consummation of the transactions contemplated hereby, (ii) promptly, but in no event later than one
(1) Business Day after execution of this Agreement, make or cause to be made the applications or
filings required to be made by Buyer, the Company, the Sellers or any of their respective
Subsidiaries under or with respect to the HSR Act (which such filings shall include requesting
early termination of the waiting period under or with respect to the HSR Act) or any other
applicable laws in connection with the authorization, execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby, (iii) comply at the earliest practicable
date with any request under or with respect to the HSR Act and any such other applicable laws for
additional information, documents or other materials received by Buyer, the Company, the Sellers or
any of their respective Subsidiaries from the Federal Trade Commission or the Department of Justice
or any other Governmental Authority in connection

46

 

with such applications or filings or the
transactions contemplated hereby and (iv) coordinate and cooperate with, and give due consideration
to all reasonable additions, deletions or changes suggested by the other party in connection with,
making (A) any filing under or with respect to the HSR Act or any such other applicable laws and
(B) any filings, conferences or other submissions related to resolving any investigation or other
inquiry by any such Governmental Authority. Each of Buyer, the Company and the Sellers shall
furnish to the other party all information necessary for any such application or other filing to be
made in connection with the transactions contemplated hereby. Each of Buyer, the Company and the
Sellers shall promptly inform the other Parties hereto of any material communication with, and any
proposed understanding, undertaking or agreement with, any Governmental Authority regarding any
such application or filing. If any of Buyer, the Company or any Seller hereto intends to
independently participate in any meeting with any Governmental Authority in respect of any such
filings, investigation or other inquiry, then such Party shall give the other Parties reasonable
prior notice of such meeting and invite representatives of the other Parties to participate in the
meeting with the Governmental Authority unless prohibited by such Governmental Authority. Buyer,
the Company and the Sellers shall coordinate and cooperate with one another in connection with any
analyses, appearances, presentations, memoranda, briefs, arguments, opinions and proposals made or
submitted by or on behalf of any Party in connection with all meetings, actions and proceedings
under or relating to any such application or filing.

                    (ii) From the date of this Agreement until the consummation of the transactions
contemplated hereby, the Company and the Sellers shall give (or shall cause their respective
Subsidiaries to give) any material notices required to be given to third parties to the extent
requested by Buyer, and use, and cause their respective Subsidiaries to use, commercially
reasonable efforts to obtain any material third party consents required to consummate the
transactions contemplated hereby pursuant to agreements or contracts of the Company; provided,
however, that the Company and the Sellers shall coordinate and cooperate with the Buyer in
determining whether any actions, notices, consents, approvals or waivers are required to be given
or obtained, or should be given or obtained from parties to any Contract in connection with
consummation of the transactions contemplated hereby and seeking any such actions, notices,
consents approvals or waivers. Notwithstanding the foregoing or anything to the contrary herein, no
Party shall be required to make any payment to any third party or agree to any limitation on the
conduct of its business, in order to obtain any such consent. No Party shall have any obligation
with respect to this Section 6.4(ii) following the Closing.

                    (iii) From the date of this Agreement until the consummation of the transactions
contemplated hereby, each of Buyer, the Company and the Sellers shall promptly notify one another
in writing of any pending or, to the Knowledge of Buyer, the Company or the Sellers, threatened
action, suit, arbitration or other proceeding or investigation by any Governmental Authority or any
other Person (i) challenging or seeking material damages in connection with the transactions
contemplated hereby or (ii) seeking to restrain or prohibit the consummation of the transactions
contemplated hereby or otherwise limit in any material respect

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the right of Buyer or any affiliate
of Buyer to own or operate all or any portion of the businesses or assets of the Company or any
Company Subsidiary or the right of any Seller to receive the Purchase Price. The Parties will give
one another the opportunity to consult regarding the defense or settlement of any such litigation
and shall consider the other Parties’ views with respect to such litigation and prior to the
termination of the Agreement under Section 10 hereof shall not settle any such litigation
without the prior written consent of the other Parties hereto, which will not be unreasonably
withheld or delayed.

                    (iv) If any administrative or judicial action or proceeding is instituted (or threatened
to be instituted) by a Governmental Authority challenging the transaction contemplated hereby as
violative of any applicable law, each of Buyer, the Company and the Sellers shall cooperate and use
their best efforts to contest and resist, except insofar as the Parties may otherwise agree, any
such action or proceeding, including any action or proceeding that seeks a temporary restraining
order or preliminary injunction that would prohibit, prevent or restrict consummation of the
transactions contemplated hereby.

                    (v) Notwithstanding anything set forth in this Section 6.4 and any other provision
hereof, in connection with the receipt of any necessary governmental approvals or clearances
(including under the HSR Act), none of the Sellers, Buyer, the Company or their respective
Affiliates shall be required to sell, hold separate or otherwise dispose of or conduct their
business in a specified manner, or agree to sell, hold separate or otherwise dispose of or conduct
their business in a specified manner, or permit the sale, holding separate or other disposition of,
any assets of the Sellers, Buyer, the Company or their respective Affiliates or the conduct of
their business in a specified manner.

          6.5. Audited Financials. Following the date of this Agreement, the Sellers will,
at Buyer’s expense, take all actions reasonably requested by Buyer to assist Buyer in connection
with Buyer’s preparation of the financial statements and other information it will be required to
file with the Securities and Exchange Commission under Rule 3-05 of Regulation S-X.

          6.6. No Solicitation of Transactions. Prior to the earlier of (A) the Closing
Date or (B) the termination of this Agreement in accordance with the provisions of Section
10, none of the Sellers or the Company (or any of its Subsidiaries) will, nor will any of them
knowingly permit their officers, directors, employees or agents, investment bankers,
attorneys, accountants or other advisors or representatives, to directly or indirectly (i) solicit,
initiate, encourage or knowingly facilitate (including by furnishing nonpublic information) any
inquiries or the making of any proposal or offer that constitutes, or may reasonably be expected to
lead to, an Acquisition Proposal, (ii) participate in any discussions or negotiations in
furtherance of such inquiries or to obtain an Acquisition Proposal, or the making of any proposal
that constitutes any Acquisition Proposal, or provide any confidential information or data with
respect to an Acquisition Proposal, (iii) agree to, approve or recommend any Acquisition Proposal,
or (iv) execute or enter into any letter of intent, agreement in principle, merger agreement,
memorandum

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of understanding, term sheet or other similar document related to an Acquisition
Proposal. Each of the Sellers and the Company agrees that it and each of their respective
Subsidiaries and each of their respective representatives shall immediately cease any and all
existing activities, discussions or negotiations with any third parties conducted heretofore with
respect to any Acquisition Proposal.

          6.7. Public Announcements. Buyer and Sellers agree to consult with each other
before issuing any press release or making any other public statement with respect to this
Agreement or the transactions contemplated hereby and, except for any press releases and public
statements the making of which may be required by applicable law, or any applicable stock exchange
or NASDAQ rule or any listing agreement, no Party will issue any such press release nor make any
such public statement unless the content of such press release or public statement shall have been
agreed upon by the Parties.

          6.8. Termination of Agreements. Effective only upon completion of the Closing,
each Seller and the Company hereby terminate the agreements set forth on Section 6.8 of the
Schedules. Buyer shall amend and restate the Third Amended and Restated Limited Partnership
Agreement of the Company dated November 11, 2008 and effective as of November 2, 2007, by and among
the General Partner and the Limited Partners immediately following completion of the Closing.

          6.9. Bonus Calculation. Following the Closing, Buyer shall cause the Company to
pay employee bonuses for the year ended December 31, 2010 in the aggregate amount accrued on the
Net Working Capital Calculation under the Company’s bonus plan in accordance with the parameters
set forth on Section 6.9 of the Schedules (including to any such employee who becomes a consultant
after the Closing). Payment of such bonuses will be subject to the Buyer’s normal review process,
confirmation of the Company’s 2010 EBITDA and each employee’s personal goals/objectives results;
provided, that if and to the extent such bonuses are not paid to the employees (or consultants),
the amount of such bonuses not so paid shall be promptly thereafter paid by Buyer to the Seller
Representative.

     7. Conditions Precedent.

          7.1. Conditions Precedent to Obligations of Buyer. The obligation of Buyer to
consummate the transactions contemplated by this Agreement is subject to the fulfillment (or, to
the extent permitted by applicable law, waiver), on or prior to the Closing Date, of each of the
following conditions:

                    (i) the representations and warranties of the Sellers and the Company set forth in this
Agreement (i) to the extent qualified by materiality or Material Adverse Effect, shall be true and
correct and (ii) to the extent not qualified by materiality or Material Adverse Effect, shall be
true and correct in all material respects, in each case, as of the date of this Agreement and as of
the Closing as though made at and as of the Closing, except that

49

 

any such representations and
warranties expressly made as of a specified date shall only need to be true and correct as of such
date (in which case such representations and warranties qualified as to materiality shall be true
and correct, and those not so qualified shall be true and correct in all material respects, on and
as of such earlier date);

                    (ii) the Sellers and the Company shall have performed and complied in all material
respects with all covenants required in this Agreement to be performed or complied with by them on
or prior to the Closing Date;

                    (iii) there shall not have been or occurred any event, change, occurrence or circumstance
after the date hereof and prior to the Closing that, individually or in the aggregate with any such
events, changes, occurrences or circumstances, has had or would reasonably be expected to have a
Material Adverse Effect on the Company;

                    (iv) no Proceedings shall have been instituted or claim or demand made against the
Sellers, the Company or Buyer which could reasonably be expected to restrain or prohibit, the
consummation of the transactions contemplated hereby, and there shall not be in effect any order by
a Governmental Authority of competent jurisdiction restraining, enjoining or otherwise prohibiting
the consummation of the transactions contemplated hereby;

                    (v) the Sellers, the Company and Buyer shall have obtained the documents listed on
Section 2.5.1 of the Schedules, and the waiting period under the HSR Act, if applicable,
and any extensions thereof shall have expired or been terminated;

                    (vi) the General Partner shall have duly adopted a resolution terminating the Touchstone
Wireless Repair and Logistics, LP 401(k) Retirement Plan;

                    (vii) any revocation period required under applicable law for the documents listed on
Section 7.1(vii) of the Schedules shall have elapsed; and

                    (viii) Buyer shall have received the items to be delivered in Section 2.5.1.

          7.2. Conditions Precedent to Obligations of the Sellers. The obligations of the
Sellers to consummate the transactions contemplated by this Agreement are subject to the
fulfillment (or, to the extent permitted by applicable law, waiver), on or prior to the Closing
Date, of each of the following conditions:

                    (i) the representations and warranties of Buyer set forth in this Agreement (i) to the
extent qualified by materiality, Material Adverse Effect or similar qualification contained
therein, shall be true and correct and (ii) to the extent not qualified by
materiality, Material Adverse Effect or similar qualification contained therein, shall be true
and correct in all material respects, in each case, as of the date of this Agreement and as of the

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Closing as though made at and as of the Closing, except that any such representations and
warranties expressly made as of a specified date shall only need to be true and correct as of such
date (in which case such representations and warranties qualified as to materiality shall be true
and correct, and those not so qualified shall be true and correct in all material respects, on and
as of such earlier date);

                    (ii) Buyer shall have performed and complied in all material respects with all covenants
required by this Agreement to be performed or complied with by it on or prior to the Closing Date;

                    (iii) no Proceedings shall have been instituted or claim or demand made against the
Sellers, the Company or Buyer which could reasonably be expected to restrain or prohibit the
consummation of the transactions contemplated hereby, and there shall not be in effect any order by
a Governmental Authority of competent jurisdiction restraining, enjoining or otherwise prohibiting
the consummation of the transactions contemplated hereby;

                    (iv) the waiting period under the HSR Act, if applicable, and any extensions thereof shall
have expired or been terminated; and

                    (v) the Seller Representative, the Sellers and/or the Escrow Agent, as the case may be,
shall have received the items listed in Section 2.5.2.

     8. Post-Closing Covenants. The Parties agree as follows with respect to the
period following the Closing:

          8.1. Further Assurances. From time to time after the Closing, without additional
consideration, each Party will execute and deliver such further instruments and take such other
action as may be necessary or reasonably requested by another Party to make effective the
transactions contemplated by this Agreement and the transactions contemplated hereby and to provide
such other Party with the intended benefits of this Agreement. Without limiting the foregoing,
upon reasonable request of Buyer after the Closing Date, each Seller shall, as applicable, execute,
acknowledge and deliver all such further assurances, deeds, assignments, consequences, powers of
attorney and other instruments and paper as may be required to sell, transfer, assign, convey and
deliver to Buyer all right, title and interest in, to and under the Equity Interests.

          8.2. Transition. Each Seller will not take any action that is designed or
intended to have the effect of discouraging any customer, supplier, or other business associate of
any of the Company or its Subsidiaries from maintaining the same business relationships with the
Company and its Subsidiaries after the Closing as it maintained with the Company and its
Subsidiaries prior to the Closing.

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          8.3. Record Retention. Buyer and each Seller, on behalf of itself or himself
individually and to the extent that such Party has such books and records in its possession as of
or following the Closing Date, agrees (i) to hold all of the books and records of the Company
existing on the Closing Date and not to destroy or dispose of any thereof for a period of seven (7)
years from the Closing Date, and (ii) following the Closing Date, to afford the other Parties, any
of their Affiliates and their accountants and counsels, during normal business hours, upon
reasonable request, reasonable access to such books, records and other data to the extent that such
access may be requested for any purpose (other than litigation between or among Parties), at no
cost to any Seller; provided, however, that such access rights shall be exercised in a manner so as
to maintain the privileged nature of any information that may be subject to attorney-client
privilege.

          8.4. Nondisclosure; Noncompetition; Nonsolicitation; Nondisparagement. Each of
the Sellers and the Company recognize that due to the nature of such Seller’s relationship with the
Company, each such Seller has had and will have access to and has developed and will develop
confidential business information, proprietary information, and trade secrets relating to the
business and operations of the Company and its Affiliates. Each Seller acknowledges that such
information is valuable to the business of the Company and its Affiliates, and that disclosure to,
or use for the benefit of, any person or entity other than the Company or its Affiliates, would
cause substantial damage to the Company. For purposes of this Section 8.4, reference to
the “Company” shall include both the Company and each Subsidiary of the Company as of the date
hereof.

               8.4.1 Confidential Information.

                    (i) Subject to subsection (iii) below, each Seller shall at all times, except as required
by law, maintain the confidentiality of Confidential Information of the Company, and except, to the
extent applicable, in connection with his duties as an employee of the Company, such Seller shall
not directly or indirectly disclose any such information to any Person, nor shall the Seller use
Confidential Information of the Company for any purpose except for the benefit of the Company.
“Confidential Information” means the following: trade secret information; client or
customer lists, including their identities, contacts, business and financial needs and information;
Company pricing information; survey information; computer software, passwords, programs, data or
other information; Company marketing plans, projections and presentations; Company financial and
budget information; and all other business-related information of the Company on the Closing Date
which has not been publicly disclosed by the Company or its Affiliates. This restriction shall
apply regardless of whether such Confidential Information is in written, graphic, recorded,
photographic or any machine-readable form or is orally conveyed to, or memorized by, such Seller.

                    (ii) Each Seller’s duty of confidentiality with regard to the Confidential Information
shall not extend to: (A) any Confidential Information that, at the time of

52

 

disclosure, had been
previously published and was part of the public domain; (B) any Confidential Information that is
published or becomes publicly available after disclosure, unless such publication is a breach of
this Agreement by such Seller; and (C) any Confidential Information that is obtained by such Seller
other than in connection with the performance of his
duties hereunder from a third person not known by such Seller to be prohibited from disclosing
such information to such Seller by a legal, contractual or fiduciary obligation.

                    (iii) In the event that a Seller is requested or required (by oral questions,
interrogatories, requests for information or documents, subpoena or other process) to disclose any
Confidential Information (including the terms of this Agreement) other than in respect of any
Proceeding between any Seller and Buyer, such Seller agrees to: (A) give prompt written notice to
the Company of such request or subpoena in order to allow the Company an opportunity to seek an
appropriate protective order or to waive its compliance with the provisions of this Agreement; and
(B) cooperate with the Company and with counsel for the Company in responding to such request or
subpoena as provided below. If the Company fails to obtain a protective order and does not waive
its rights to confidential treatment under this Agreement, each Seller may disclose only that
portion of any Confidential Information that such Seller is compelled to disclose pursuant to an
enforceable order. Each Seller further agrees that in no event will such Seller oppose action by
the Company to obtain an appropriate protective order or other reliable promises that confidential
treatment will be accorded to the Confidential Information. The provision of Confidential
Information to a third party representing a Seller in connection with litigation or arbitration
between the Parties or a dispute being resolved pursuant to Section 2.3 of this Agreement
or otherwise in the course of enforcing such Seller’s rights under this Agreement shall not be
considered a violation of this Section 8.4.1.

               8.4.2 Confidentiality and Surrender of Records. Without the prior written consent
by the Company, each Seller shall not at any time, except as required by law, directly or
indirectly publish, make known or in any fashion disclose any Confidential Records to, or permit
any inspection or copying of Confidential Records by, any individual or entity other than in the
course of such individual’s or entity’s employment by the Company, nor shall such Seller retain,
and will deliver promptly to the Company, any of the same and any other Company records or property
following termination of his employment hereunder for any reason or upon request by the Company.
For purposes hereof, “Confidential Records” means those portions of correspondence,
memoranda, files, manuals, books, lists, financial, operating or marketing records, magnetic tape,
or electronic or other media or equipment of any kind in such Seller’s possession or under his
control or accessible to him which contain any Confidential Information. All Confidential Records
shall be and remain the sole property of the Company. The provision of Confidential Records to a
third party representing a Seller in connection with litigation or arbitration between the Parties
or a dispute being resolved pursuant to Section 2.3 of this Agreement or otherwise in the
course of enforcing such Seller’s rights under this Agreement shall not be considered a violation
of this Section 8.4.2.

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               8.4.3 Non-Solicitation; Non-Competition. For a period of three (3) years from the
Closing Date, each of EW Investment, LP, Striker Partners I, L.P. and John K. Cowles shall not
engage in any of the following activities, either directly or indirectly (individually, or through
or on behalf of another entity, as owner, partner, employee, agent or consultant, or in any other
capacity):

                    (i) seek, solicit, or attempt to establish on behalf of any Company Competitor, a business
relationship with any Person who was a client, customer, OEM, employee, agent (excluding employees,
who are addressed in Section 8.4.3(ii) or James Allen Hurley, II) or representative
(excluding professional service providers such as accountants or legal, tax or financial advisors)
of the Company during the twenty-four (24) months preceding the Closing Date, or was solicited
directly by the Seller during the six (6) months preceding the Closing Date to become a client,
customer, supplier, employee, salesman, agent or representative of the business of the Company
(each a “Company Client”);

                    (i) solicit, encourage, or engage in any activity to induce any employee of the Company or
its Subsidiaries to terminate employment with the Company, or to become employed by any other
Person. For purposes of this Section 8.4.3(ii), the term employee includes any individual
who is an employee of or consultant to the Company or its Subsidiaries during the twelve (12) month
period prior to the Closing Date, other than James Allen Hurley, II; provided, however, that the
foregoing provision will not prevent EW Investment, LP or Striker Partners I, L.P. from soliciting
any such person (a) as a result of placing advertisements in trade journals, newspapers, internet
or similar publications or (b) as a result of the efforts of executive recruiters or other third
parties who contact such persons without any direct or indirect solicitation by or knowing
encouragement from EW Investment, LP, Striker Partners I, L.P., Striker Investment Group or any
employees of Striker Investment Group, L.P. (collectively, the “Relevant Parties”); or

                    (ii) establish, engage, own, manage, operate, join or control, or participate in the
establishment, ownership, management, operation or control of, or be a director, officer, employee,
salesman, agent or representative of, or be a consultant to, any Company Competitor; provided,
however, that it shall not be a violation of this Section 8.4 for any Relevant Party to
own, directly or indirectly, solely as an investment, securities of any Person that are traded on a
national securities exchange or the Nasdaq Stock Market (or a recognized securities exchange
outside the U.S.) if such Relevant Party does not, directly or indirectly, own more than 3% or more
of the voting securities of such Person; provided, further, that it shall not be a violation of
this Section 8.4 for Richard A. Graham to own, directly or indirectly, solely as an investment,
securities of any Person that are traded on a national securities exchange or the Nasdaq Stock
Market (or a recognized securities exchange outside the U.S.) if Richard A. Graham does not,
directly or indirectly, own 5% or more of the voting securities of such Person.

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               8.4.4 Acknowledgment. Each Seller acknowledges that the covenants of such Seller
set forth in this Section 8.4 are an essential element of this Agreement and that, but for
such Seller’s agreement to comply with these covenants, Buyer would not have entered into this
Agreement. Each Seller acknowledges that this Section 8.4 constitutes an independent
covenant that shall not be affected by performance or nonperformance of any other provision of this
Agreement by Buyer. Each Seller has independently consulted with his or its respective counsel (as
the case may be) and after such consultation agrees that the covenants set forth in this
Section 8.4 are reasonable and proper.

          8.5. Nondisparagement.

                    (i) From and after the Closing Date, each Seller and Striker Partners I, L.P. shall not at
any time disparage the business of the Company, Buyer or any of their respective Affiliates after
the Closing Date or their relationships with any of their respective past, existing or prospective
customers, employees, suppliers or other business relationships; provided, that the making of any
claim or initiation of a Proceeding pursuant to this Agreement or the enforcement of such Seller’s
rights under this Agreement against Buyer or its Affiliates will not in and of itself violate this
Section 8.5(i).

                    (ii) From and after the Closing Date, the Buyer shall not at any time disparage any of the
Sellers or any of their respective Affiliates or their relationships with any of their respective
past, existing or prospective customers, employees, suppliers or other business relationships;
provided, that the making of any claim or initiation of a Proceeding against a Seller will not
in and of itself violate this Section 8.5(ii).

          8.6. Reserved.

          8.7. Directors’ and Officers’ Indemnification.

               8.7.1 Buyer and each Seller agree that, to the maximum extent permitted by applicable law,
all rights to indemnification and exculpation from liability for acts or omissions occurring prior
to the Closing Date now existing in favor of the current or former general partners (or any
directors, officers, managers, members of the board of advisors, or members of any such general
partner), directors, officers, employees and other agents of the Company and its Subsidiaries
(collectively, “Protected Agents”), including as provided in the limited partnership
agreement of the Company, will survive the Closing and will continue in full force and effect in
accordance with their respective terms for a period of not less than six (6) years after the
Closing Date.

               8.7.2 From and after the Closing Date, Buyer shall, and shall cause the Company and its
Subsidiaries to, indemnify, defend, and hold harmless each Person that is now, or has been at any
time prior to the date hereof or who becomes prior to the Closing, a Protected Agent, against any
and all losses, damages, liabilities, deficiencies, claims, interest, awards,

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judgments, penalties,
fees, costs and expenses (including amounts paid in respect of judgments, fines, penalties or
settlement of any Proceeding and legal fees and expenses reasonably incurred in connection with any
pending or threatened Proceeding) arising out of or relating to any threatened or actual Proceeding
based in whole or in part on or arising out of or relating in whole or in part to the fact that
such Person is or was a partner (or director, officer, manager, member of the board of advisors, or
member of any such partner) member, director, officer, manager, employee or other agent of the
Company or its Subsidiaries on or prior to the Closing Date and whether asserted or claimed prior
to, or at or after, the Closing Date, in each case, to the full extent permitted under applicable
law to indemnify such Persons, provided, that Buyer shall not, and shall not be required to, cause
the Company and its Subsidiaries to pay expenses in advance of the final disposition of any such
proceeding to each such indemnified person.

     9. Indemnification.

          9.1. Sellers’ Indemnification. Following the Closing and subject to the
limitations and conditions set forth in this Section 9, each Seller shall, on a several
basis, indemnify and hold harmless Buyer, and its successors and assigns, and its directors,
officers, members, employees, agents and representatives (collectively, the “Buyer Group”)
from and against any and all Losses arising out of or caused by any or all of the following:

               9.1.1 Seller’s Misrepresentation. Any breach of any warranty or representation
made by such Seller in Section 3 of this Agreement, it being understood that no Seller
shall be liable for the breach of, or inaccuracy in, any representations or warranties made by any
other Seller.

               9.1.2 Seller’s Nonperformance. Any failure or refusal of such Seller to satisfy
or perform any covenant of such Seller set forth in this Agreement required to be satisfied or
performed by such Seller pursuant to this Agreement, it being understood that no Seller shall be
liable for the breach of, or failure to perform, any covenants made by any other Seller.

               9.1.3 Notwithstanding the foregoing, for so long as any amounts remain in the
Indemnification Escrow, to the extent the Buyer Group is entitled to indemnification for Losses
pursuant to this Section 9.1, Buyer must first seek recovery of such Losses from the
Indemnification Escrow. To the extent the Buyer Group is entitled to indemnification for Losses
pursuant to this Section 9.1 in excess of the funds remaining in the Indemnification
Escrow, it is understood that Buyer and other members of the Buyer Group shall be required to
pursue, on a several basis, the Seller who breached the representation, warranty or covenant in
question, and no other Seller shall be liable for such breach.

          9.2. Sellers’ Indemnification Related to the Company’s Representations, Warranties and
Non-Performance. Following the Closing and subject to the limitations and conditions set
forth in this Section 9, the Sellers shall on a several basis, indemnify and hold

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harmless
the Buyer Group from and against any and all Losses arising out of or caused by any or all of the
following:

               9.2.1 Company’s Misrepresentation. Any breach of any warranty or representation
made by the Company in Section 4 of this Agreement.

               9.2.2 Company’s Pre-Closing Nonperformance. Any failure or refusal of the Company
to satisfy or perform any covenant of the Company set forth in this Agreement required to be
satisfied or performed by the Company pursuant to this Agreement, but only to the extent such
covenant and failure relates to the performance of obligations prior to the Closing Date.

               9.2.3 Unpaid Transaction Expenses. Any failure by the Company or the Sellers to
have paid all Unpaid Transaction Expenses concurrent with or prior to the Closing.

               9.2.4 Notwithstanding the foregoing, for so long as any amounts remain in the
Indemnification Escrow, to the extent the Buyer Group is entitled to indemnification for Losses
pursuant to this Section 9.2, Buyer must first seek recovery of such Losses from the
Indemnification Escrow. To the extent the Buyer Group is entitled to indemnification for Losses
pursuant to this Section 9.2 in excess of the funds remaining in the Indemnification
Escrow, it is understood that Buyer and other members of the Buyer Group shall be required to
pursue, on a several basis, the Sellers pro rata (it being understood that a Seller’s “pro rata”
portion shall be based on the percentages set forth next to each Seller’s name on Section 9
of the Schedules).

          9.3. Buyer’s and the Company’s Indemnification. Following the Closing, the Buyer
and the Company shall indemnify and hold harmless the Sellers, their successors and assigns and
their directors, officers, members, employees, agents and representatives (each a “Seller
Indemnitee”), from and against any and all Losses, arising out of or caused by, any of the
following:

               9.3.1 Buyer’s Misrepresentation. Any breach of any warranty or representation
made by Buyer in this Agreement.

               9.3.2 Buyer’s Nonperformance. Any failure or refusal by Buyer to satisfy or
perform any covenant, term or condition of this Agreement required to be satisfied or performed by
it pursuant to this Agreement.

               9.3.3 Company’s Post-Closing Nonperformance. Any failure or refusal of the
Company to satisfy or perform any covenant of the Company set forth in this Agreement required to
be satisfied or performed by the Company pursuant to this Agreement, but only to the extent such
covenant and failure relates to the performance of obligations from and after the Closing Date.

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          9.4. Indemnification Procedures. With respect to each event, occurrence or matter
(“Indemnification Matter”) as to which any member of the Buyer Group or any of the Company
or the Sellers, as the case may be (in either case, referred to collectively as, the
“Indemnitee”), is or may reasonably be entitled to indemnification from the Sellers under
Section 9.1 or 9.2 or from Buyer or the Company under Section 9.3, as the
case may be (in either case referred to collectively as, the “Indemnitor”):

               9.4.1 Notice. Within ten (10) calendar days after the Indemnitee receives written
documents underlying the Indemnification Matter or, if the Indemnification Matter does not involve
a third-party action, suit, claim or demand, as promptly as practicable after the Indemnitee first
has actual knowledge of the Indemnification Matter or of other matters from which an
Indemnification Matter is reasonably likely to result, the Indemnitee shall give written notice
coupled with reasonable supporting detail to the Indemnitor of the nature of the Indemnification
Matter and the amount demanded or claimed in connection therewith (“Indemnification
Notice”), together with copies of any such written documents. No indemnification for Losses
associated with an Indemnification Matter shall be available if (i) the related Indemnification
Notice is not timely given and (ii) such failure to provide a timely Indemnification Notice
prejudices the Indemnitor’s ability to remedy, remediate, mitigate or
otherwise minimize the effect of the underlying Indemnification Matter. Any action required to
be taken by, or any notice required to be delivered to, the Sellers under this Section 9.4
may be taken by, or delivered to, the Seller Representative on behalf of the Sellers.

               9.4.2 Defense. If a third-party action, suit, claim or demand is involved, then,
upon receipt of the Indemnification Notice, the Indemnitor shall have thirty (30) calendar days
after said notice is given to elect, by written notice given to the Indemnitee, to undertake,
conduct and control, through counsel of its own choosing which is reasonably acceptable to the
Indemnitee and at Indemnitor’s sole expense, the good faith settlement or defense of such claim,
and the Indemnitee shall cooperate with the Indemnitor in connection therewith; provided: (a) all
settlements require the prior reasonable consultation with the Indemnitee and the prior written
consent of the Indemnitee, which consent shall not be unreasonably withheld, provided that the
Indemnitor may settle any such claim without the prior consent of the Indemnitee if such settlement
involves the full release of the Indemnitee and the Indemnitor agrees to pay all amounts payable
pursuant to such settlement, and (b) the Indemnitee shall be entitled to participate in such
settlement or defense through counsel chosen by the Indemnitee, provided that Indemnitee
acknowledges and accepts in writing full liability for the applicable Indemnification Matter and
the fees and expenses of such counsel shall be borne by the Indemnitee. So long as the Indemnitor
is contesting any such claim in good faith, the Indemnitee shall not pay or settle any such claim;
provided, however, that notwithstanding the foregoing, the Indemnitee shall have the right to pay
or settle any such claim at any time, provided that in such event the Indemnitee shall waive any
right of indemnification therefor by the Indemnitor. If the Indemnitor does not make a timely
election to undertake the good faith defense or settlement of the claim as aforesaid, then the
Indemnitee shall have the right to contest, settle or compromise the claim at

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its exclusive discretion, at the risk and expense of the Indemnitor. In any event, the
Indemnitor and the Indemnitee shall fully cooperate with each other in connection with the defense
of such claim, including without limitation by furnishing all available documentary or other
evidence as is reasonably requested by the other. If the Indemnitee fails to consent to a
settlement that imposes only monetary damages, then the Indemnitor’s liability with respect to such
matter shall be limited to the amount of such rejected settlement.

               9.4.3 Payments. All amounts owed by the Indemnitor to the Indemnitee (if any) shall
be paid in full within ten (10) Business Days after a final judgment (without further right of
appeal) determining the amount owed is rendered, or after a final settlement or agreement as to the
amount owed is executed, unless otherwise provided in such final settlement or agreement.

          9.5. Limits on Indemnification. Indemnification under this Section 9 shall be
limited as follows:

               9.5.1 Basket. No Seller shall have liability under Section 9 unless and until
the aggregate amount otherwise payable to the Buyer Group under this Section 9 exceeds Six
Hundred Fifty Thousand Dollars ($650,000) (the “Basket”), in which event the applicable
member of Buyer Group entitled to indemnification pursuant to this Section 9 shall be
entitled to only those amounts in excess of the Basket; provided, however, that the limitations set
forth in this Section 9.5.1 shall not apply in the case of any Indemnification Matter to
the extent that such Indemnification Matter arises out of or involves Losses incurred due to (i) a
breach of any Fundamental Representation or representation set forth in Section 4.11 (Tax
Matters), (ii) fraud by the Sellers or the Company, or (iii) the failure of a Seller to satisfy or
perform any post-Closing covenant under the terms of this Agreement.

               9.5.2 Ceiling. The Sellers’ total liability in the aggregate under this Section
9 shall not exceed Nine Million Dollars ($9,000,000) (the “Ceiling”), and no Seller’s
aggregate liability under this Section 9 shall exceed the amount equal to the lesser of:
(x) such Seller’s pro rata portion of the Ceiling and (y) such Seller’s pro rata portion of the
Losses for which the Buyer Group is entitled to be indemnified under this Section 9 (it
being understood that a Seller’s “pro rata” portion shall be based on the percentages set forth
next to each Seller’s name on Section 9 of the Schedules); provided, however, that the
limitations set forth in this Section 9.5.2 shall not apply in the case of any
Indemnification Matter to the extent such Indemnification Matter arises out of or involves Losses
incurred due to (i) a breach of any Fundamental Representation or representation set
forth in Section 4.11 (Tax Matters), (ii) fraud by the Sellers or the Company or (iii) the
failure of a Seller to satisfy or perform any post-Closing covenant under the terms of this
Agreement.

               9.5.3 Buyer Ceiling. The Buyer’s total liability in the aggregate under this
Section 9 shall not exceed the Purchase Price; provided, however, that the limitations set
forth in this Section 9.5.3 shall not apply in the case of any Indemnification Matter to
the extent

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such Indemnification Matter arises out of or involves Losses incurred due to (i) fraud by the Buyer
or (ii) the failure of the Buyer to satisfy or perform any post-Closing covenant under the terms of
this Agreement.

               9.5.4 Threshold. No member of the Buyer Group shall be entitled to indemnification
under this Section 9 with respect to any Indemnification Matter unless the Losses therefrom
exceed Twenty Thousand Dollars ($20,000); provided, however, that the limitations set forth in this
Section 9.5.4(i) shall not apply in the case of any Indemnification Matter to the extent
that such Indemnification Matter arises out of or involves Losses incurred due to (i) a breach of
any Fundamental Representation, (ii) fraud by the Sellers or the Company, or (iii) the failure of a
Seller to satisfy or perform any post-Closing covenant under the terms of this Agreement.

               9.5.5 Excluded Intellectual Property Losses. Notwithstanding anything to the contrary
herein, no member of the Buyer Group shall be entitled to any indemnification for any Excluded
Intellectual Property Losses.

               9.5.6 Recourse to Escrow. Without limiting the foregoing:

                    (i) the sole source of indemnification under this Section 9 for Losses incurred by the
Buyer Group shall be the amount then remaining in the Indemnification Escrow, and no member of the
Buyer Group shall have recourse directly to any Seller for any such Losses;

                    (ii) upon depletion or exhaustion of the Indemnification Escrow, no Seller shall have any
further liability or obligation under Section 9.2; and

                    (iii) the aggregate amount of Losses for which the Buyer Group shall be indemnified under
Section 9.2 shall not exceed the amount of the Indemnification Escrow;

                    (iv) provided, however, that the limitations set forth in Sections 9.5.6(i) - (iii)
shall not apply in the case of any Indemnification Matter to the extent that such Indemnification
Matter arises out of or involves Losses incurred due to (i) a breach of any Fundamental
Representation or representation set forth in Section 4.11 (Tax Matters), (ii) fraud by the
Sellers or the Company or (iii) the failure of a Seller to satisfy or perform any post-Closing
covenant under the terms of this Agreement.

               9.5.7 Pro-Rata Liability. Notwithstanding anything to the contrary contained herein,
the aggregate amount of Losses for which the Buyer Group shall be indemnified by any Seller under
any provisions of this Section 9 (including in the circumstances where the limitations set
forth in Sections 9.5.6(i)-(iii) do not apply) shall not exceed the amount equal to the
lesser of: (x) such Seller’s pro rata portion of the Purchase Price and (y) such

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Seller’s pro rata portion of the Losses for which the Buyer Group is entitled to be indemnified (it
being understood that a Seller’s “pro rata” portion shall be based on the percentages set forth
next to each Seller’s name on Section 9 of the Schedules).

          9.6. Survival of Representations and Warranties. All representations and warranties,
and all covenants and agreements to be performed prior to Closing shall survive the execution and
delivery hereof and the Closing hereunder until the close of business on April 30, 2012; provided
that (i) the representations set forth in Section 4.11 (Tax Matters) shall survive until
sixty (60) days after the expiration of the applicable statute of limitations for the applicable
underlying claim, including any extensions or waivers thereof, and (ii) the covenants of the
Parties to be performed after the Closing Date shall survive for a period expiring on the third
anniversary of the Closing, except Sections 8.4.1 and 8.4.2, which shall survive
the Closing indefinitely, and Section 8.3, which shall survive for a period expiring on the
seventh anniversary of the Closing Date, and (iii) the Fundamental Representations and any claims
in connection with fraud shall survive indefinitely.

          9.7. Mitigation; Losses Net of Insurance, Etc. Each Party shall take
reasonable steps to mitigate and otherwise minimize the Losses upon and after becoming aware of any
event that would be reasonably expected to give rise to any Indemnification Matter. The amount of
any Loss for which indemnification is provided under Section 9 shall be net of (a) any
amounts recovered by the Indemnitee pursuant to any indemnification by or indemnification or other
agreement with any third party, (b) any insurance proceeds (calculated net of any increase in
insurance premiums resulting from the related claims under applicable insurance policies) or other
cash receipts or sources of reimbursement received in respect of such Loss (each source named in
clauses (a) and (b), a “Collateral Source”), (c) an amount equal to the Tax benefit, if
any, realized by the Indemnitee attributable to such Loss and (d) any specific accruals or reserves
(or overstatement of liabilities in respect of actual liability) included in the Financial
Statements or which are reflected in the Net Working Capital Calculation or the Closing Date Debt
Calculation. The Parties shall take and shall cause their Affiliates to take all reasonable steps
to mitigate any Loss upon becoming aware of any event that would reasonably be expected to, or
does, give rise thereto, including incurring costs only to the minimum extent necessary to remedy a
breach that gives rise to the Loss. Indemnification under this Section 9 shall not be
available to Buyer or the Sellers, as the case may be, unless the Party seeking indemnification
under this Section 9 first uses its reasonable best efforts to seek recovery from all
Collateral Sources.

          9.8. Tax Treatment of Indemnity Payments. The Parties agree to treat any
indemnification payments made to Buyer pursuant to this Agreement as an adjustment to the final
Purchase Price, unless otherwise required by Tax law or unless a Final Determination with respect
to the indemnified Party or any of its Affiliates causes any such payment not to be treated as an
adjustment to the Purchase Price. For purposes of this agreement “Final Determination”
means (i) with respect to federal income Taxes, a “determination” as defined in Section 1313(a) of
the Code or execution of an IRS Form 870-AD and (ii) with respect to Taxes other than

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federal income Taxes, any final determination of liability in respect of a Tax that, under
applicable law, is not subject to further appeal, review or modification through proceedings or
otherwise (including the expiration of a statute of limitations or a period for the filing of
claims for refunds, amended returns or appeals from adverse determinations).

          9.9. Distributions from Escrow Fund. In the event that (a) the Seller Representative
shall not have objected to the amount claimed by Buyer for indemnification with respect to any Loss
in accordance with the procedures set forth in the Escrow Agreement or (b) the Seller
Representative has delivered notice of its disagreement as to the amount of any indemnification
requested by Buyer and either (i) the Seller Representative (on behalf of the Sellers) and Buyer
shall have subsequent to the giving of such notice, mutually agreed that the Sellers are obligated
to indemnify Buyer for a specified amount and Buyer and the Seller Representative shall have so
jointly notified the Escrow Agent or (ii) a final nonappealable judgment shall have been rendered
by the court having jurisdiction over the matters relating to such claim by Buyer for
indemnification from the Sellers and the Escrow Agent shall have received in the case of clause (i)
above, written instructions from the Seller Representative (on behalf of the Sellers) and Buyer or,
in the case of clause (ii) above, a copy of the final nonappealable judgment of the court, the
Escrow Agent shall deliver to Buyer from the Escrow Fund any amount determined to be owed to Buyer
under Sections 9.1 or 9.2 in accordance with the Escrow Agreement.

          9.10. Sole Remedy/Waiver. Buyer acknowledges and agrees that following the Closing
its sole and exclusive remedy with respect to any and all claims relating to the subject matter of
this Agreement (including any misrepresentations relating thereto or breach of or inaccuracy in any
representations or warranties) shall be pursuant to the indemnification provisions set forth in
this Section 9. Buyer hereby waives, to the fullest extent permitted under applicable law,
any and all rights, remedies, claims and causes of action (including rights of contribution, if
any) it, the Company or its Subsidiaries may have against the Sellers or any of their Affiliates or
representatives arising under or based upon any federal, state or local statute, law, ordinance,
rule, regulation or judicial decision (including any such relating to environmental matters or
arising under or based upon any securities law, common law or otherwise) and whether such rights or
remedies are based upon contract, tort or otherwise.

          9.11. No Consequential Damages. Notwithstanding anything to the contrary contained
herein, no Indemnitor shall be liable to or otherwise responsible to any Indemnitee or any other
Person based on any multiple of profits or earnings or incidental, punitive, special, indirect or
consequential damages, resulting from, arising out of or incident to any Indemnification Matter or
the enforcement by any person of its rights to indemnification under this agreement, except in the
case of fraud or intentional misrepresentation or to the extent actually payable to a third party
in respect of a third-party claim.

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          9.12. Other Limitations. No claim for indemnity for a particular breach of a
representation or warranty shall be made by any Party entitled to indemnification under this
Section 9 if: (i) such claim is based on an event occurring prior to the Closing but after
the date hereof, (ii) such event was disclosed prior to the Closing to the Buyer (in the case of a
claim of a member of the Buyer Group) or the Sellers (in the case of a claim of a Seller
Indemnitee) in a writing which describes such event in reasonable detail on the Seller Closing
Certificate and (iii) the Closing occurs.

          9.13. Seller Representative.

               9.13.1 By the execution and delivery of this Agreement, each of the Sellers hereby irrevocably
constitutes and appoints Touchstone Wireless Investment Partners, LLC, as the true and lawful agent
and attorney in fact (in such capacity, the “Seller Representative”) of the Sellers with
full power of substitution to act in the name, place and stead of the Sellers with respect to this
Agreement, the Escrow Agreement and the transactions contemplated hereby and thereby as the Seller
Representative may deem appropriate, and to act on behalf of the Sellers in any litigation or
arbitration involving this Agreement or the Escrow Agreement, do or refrain from doing all such
further acts and things, and execute all such documents as the Seller Representative shall deem
necessary or appropriate in connection with the transactions contemplated by this Agreement and the
Escrow Agreement, including the power:

                    (i) to act for the Sellers with regard to matters pertaining to the determination of the
Purchase Price, the adjustment to the Purchase Price and pertaining to the indemnification referred
to in this Agreement, including the power to settle any indemnity claim on behalf of the Sellers
and to transact matters of litigation;

                    (ii) to execute and deliver all ancillary agreements, certificates and documents that the
Seller Representative deems necessary or appropriate in connection with the consummation of the
transactions contemplated by this Agreement and the Escrow Agreement;

                    (iii) to authorize the release of funds, to receive funds and to give receipts for funds,
including the Purchase Price and in respect of any adjustments to the Purchase Price or any amounts
distributed under the Escrow Agreement;

                    (iv) to negotiate, arbitrate and settle any adjustment to the Purchase Price under Section
2.3;

                    (v) to do or refrain from doing any further act or deed on behalf of the Sellers that the
Seller Representative deems necessary or appropriate in its sole discretion

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relating to the subject matter of this Agreement or the Escrow Agreement as fully and completely as
the Sellers could do if personally present;

                    (vi) to receive service of process in connection with any claims under this Agreement or the
Escrow Agreement;

                    (vii) to sign the Seller Closing Certificate on behalf of each Seller unless such Seller has
otherwise previously advised the Seller Representative in writing prior to Closing (it being
understood that Buyer shall have the right to rely on such executed Seller Closing Certificate as
binding on each Seller); and

                    (viii) to accept notices in accordance with Section 12.5.

               9.13.2 Touchstone Wireless Investment Partners, LLC hereby agrees and consents to its
appointment as the Seller Representative pursuant to this Section 9.13 effective as of the
date of this Agreement. The appointment of the Seller Representative shall be deemed coupled with
an interest and shall be irrevocable, and Buyer and any other Person may conclusively and
absolutely rely, without inquiry, upon any action or decision of the Seller Representative in all
matters referred to herein; provided, however, that the Seller Representative shall have the right
to resign and appoint a successor Seller Representative on thirty (30) days’ advance notice to the
Sellers and Buyer. All actions and decisions of Seller Representative shall be binding and
conclusive on each Seller. All notices required to be made or delivered by Buyer to the Sellers
shall be made to the Seller Representative for the benefit of the Sellers and shall discharge in
full all notice requirements of Buyer to the Sellers with respect thereto. The Sellers hereby
confirm all that the Seller Representative shall do or cause to be done by virtue of its
appointment as the Seller Representative of the Sellers. The Seller Representative will have no
liability to the Sellers or their successors or assigns with respect to actions taken or omitted to
be taken in its capacity as Seller Representative, and shall be entitled to indemnification from
the Sellers against any loss, liability or expenses arising out of actions taken or omitted to be
taken in its capacity as the Seller Representative (such indemnification rights to include the
right to set off any such loss, liability or expense against payments due to the Sellers). All fees
and expenses incurred by the Seller Representative pursuant to this Agreement shall be paid by the
Sellers in accordance with their pro rata shares of the purchase price. For the avoidance of doubt,
the Sellers agree that there shall be no recourse to the Seller Representative directly or
personally for any payments required to be made by the Seller Representative in its capacity as
such hereunder.

               9.13.3 If any individual Seller should die or become incapacitated, if any trust or estate
should terminate or if any other similar event should occur, any action taken by the Seller
Representative pursuant to this Section 9.13 shall be valid as if such death or incapacity,
termination or other event had not occurred, regardless of whether or not the Seller Representative
or Buyer shall have received notice of such death, incapacity, termination or similar event.

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               9.13.4 The Sellers acknowledge and agree that One Hundred Thousand Dollars ($100,000) (the
“Seller Representative Reserve”) of the Purchase Price will be withheld from the Closing
Date Purchase Price to cover the costs and expenses of the Seller Representative, including
expenses associated with 2010 Tax preparation, dissolution and winding up of the General Partner
and legal and accounting fees incurred prior to or after the Closing. To the extent the Seller
Representative Reserve is not used, in the discretion of the Seller Representative, it shall be
paid to the Sellers based on their pro rata shares of the purchase price, following the Seller
Representative’s determination that such reserve is no longer necessary to or advisable in the
Seller Representative’s discharge of its duties hereunder.

     10. Termination.

          10.1. Termination. This Agreement may be terminated at any time prior to the Closing
Date:

                    (i) by mutual written consent of Buyer, on the one hand, and the Seller Representative, on the
other hand;

                    (ii) by either of the Seller Representative, on the one hand, or Buyer, on the other hand, by
written notice to the other; if (a) the Closing shall not have been consummated by December 31,
2010; provided, however, that the right to terminate this Agreement under this Section
10.1(ii) shall not be available to any Party whose failure to fulfill any obligation under this
Agreement has been the cause of, or resulted in, the failure of the Closing to occur on or before
such date, or (b) any Governmental Authority of competent jurisdiction shall have issued an order,
injunction, decree or any other judgment of any kind whatsoever or taken any other action (which
action the Parties shall have used their commercially reasonable efforts to lift), which
permanently restrains, enjoins or otherwise prohibits or makes illegal the consummation of the
transactions contemplated hereby, and such order, decree, judgment, injunction or other action
shall have become final and non-appealable; provided, however, that the Party terminating this
Agreement pursuant to this Section 10.1(ii) shall have used its commercially reasonable
efforts to have such action vacated;

                    (iii) by written notice from Buyer to the Seller Representative (if Buyer is not in material
breach of any of its representations, warranties, covenants and agreements under this Agreement),
if the Company or any Seller breaches or fails to perform in any material respect any of its
representations, warranties or covenants contained in this Agreement; or

                    (iv) by written notice from the Seller Representative to Buyer (if the Company and Sellers are
not in material breach of any of their representatives and warranties, covenants and agreements
under this Agreement) if Buyer breaches or fails to

65

 

perform in any material respect any of its representations, warranties or covenants contained
in this Agreement.

          10.2. Effect of Termination. If this Agreement is terminated pursuant to Section
10.1, all obligations of the Parties under this Agreement will terminate, except that the
obligations in Sections 9.10 (Sole Remedy/Waiver), 12.6 (Controlling Law),
12.7 (Jurisdiction and Process), 12.8 (Waiver of a Jury Trial), 12.9 (Specific
Performance) and 12.12 (Expenses) will survive; provided, however, that, if this Agreement is
terminated by a Party because of the breach of this Agreement by another Party of any of its
covenants or obligations contained in this Agreement, or because one or more of the conditions to
the terminating Party’s obligations under this Agreement is not satisfied as a result of the other
Party’s failure to comply with its covenant or obligations contained in this Agreement, then the
terminating Party’s right to pursue all legal remedies will survive such termination unimpaired
(including under Section 12.9 (Specific Performance)). Nothing in this Section 10.2
shall be deemed to release any Party from any liability for any breach by such Party of the terms,
conditions, covenants and other provisions of this Agreement or to impair the right of any Party to
compel specific performance by any other Party of its obligations under this Agreement.

     11. Tax Matters.

          11.1. Pre-Closing Tax Returns. Sellers shall prepare or cause to be prepared all Tax
Returns with respect to the Company and its Subsidiaries for Pre-Closing Tax Periods that are
required to be filed after the Closing Date. Sellers shall prepare such Tax Returns consistent
with the past practices of the Company and its Subsidiaries unless contrary to applicable law.
Sellers shall file all Pre-Closing Tax Period Tax Returns on or before the due date, as extended by
any proper extension. Sellers shall include on the Tax Returns for the Pre-Closing Tax Periods the
income of the Company and its Subsidiaries for all applicable Pre-Closing Tax Periods. The Sellers
shall timely pay all Taxes of the Company and its Subsidiaries required to be paid in connection
with any Pre-Closing Tax Periods to the extent in excess of the amounts included in the calculation
of Net Working Capital; the remaining amount of Taxes of the Company and its Subsidiaries required
to be paid in connection with any Pre-Closing Tax Periods shall be paid by Buyer and any such
payment shall be made by Buyer to the Seller Representative within five calendar days of the date
when the Sellers notify Buyer of an amount of such Taxes that are payable to the relevant
Governmental Authority. The Sellers shall pay all fees and expenses associated with preparing the
Tax Returns for the Pre-Closing Tax Periods.

          11.2. Straddle Period Tax Returns. Buyer shall prepare or cause to be prepared and
timely file or cause to be timely filed any Tax Returns of the Company and its Subsidiaries for
Straddle Tax Periods that are required to be filed after the Closing Date. Buyer shall prepare
such Tax Returns consistent with the past practices of the Company and its Subsidiaries unless
contrary to applicable law. The Sellers shall pay to Buyer an amount equal to the portion of such
Taxes of the Company and its Subsidiaries which relates to the portion of such Straddle Tax

66

 

Period ending on the Closing Date; provided, however, that the Sellers shall only be liable
for Taxes in excess of the amounts included in the calculation of Net Working Capital. Any such
payment for Taxes for any Straddle Tax Period shall be made by the Sellers to Buyer within five
calendar days of the date when Buyer notifies the Seller Representative of an amount of such Taxes
that are payable to the relevant Governmental Authority. For purposes of this Section
11.2, in the case of any Taxes that are imposed on a periodic basis and are payable for a
Straddle Tax Period, the portion of such Tax which relates to the portion of such Tax period ending
on the Closing Date shall (a) in the case of any Tax other than Taxes based upon or related to
income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by
a fraction the numerator of which is the number of days in the Tax period ending on the Closing
Date and the denominator of which is the number of days in the entire Tax period, and (b) in the
case of any Tax based upon or related to income or receipts be deemed equal to the amount which
would be payable if the relevant Tax period ended on the Closing Date. Any credits relating to a
Straddle Tax Period shall be taken into account as though the relevant Tax period ended on the
Closing Date. All determinations necessary to give effect to the foregoing allocations shall be
made in a manner consistent with prior practice (to the extent permitted by law) of the Company and
its Subsidiaries.

          11.3. Transfer Taxes. Notwithstanding any other provisions of this Agreement to the
contrary, the Sellers shall pay one-half and Buyer shall pay one-half of all sales, use, stock
transfer, stamp, recording, real property transfer and similar Taxes (“Transfer Taxes”), if
any, required to be paid in connection with the sale of the Equity Interests contemplated by this
Agreement. The Sellers, after the review and consent by Buyer, shall file such applications and
documents as shall permit any such Transfer Taxes to be assessed and paid on or prior to the
Closing in accordance with any available pre-sale filing procedure. Buyer shall execute and
deliver all instruments and certificates necessary to enable the Sellers to comply with the
foregoing. Buyer shall complete and execute a resale or other exemption certificate with respect
to the inventory items sold hereunder, and shall provide the Sellers with an executed copy thereof.

          11.4. Cooperation on Tax Matters. The Sellers and Buyer shall cooperate fully, as and
to the extent reasonably requested by the other Party, in connection with the filing of Tax Returns
pursuant to this Agreement and any audit, litigation or other proceeding with respect to Taxes.
Such cooperation shall include the retention and (upon the other Party’s request) the provision of
records and information which are reasonably relevant to any such audit, litigation or other
proceeding and making employees available on a mutually convenient basis to provide additional
information and explanation of any material provided hereunder.

          11.5. Audits. Buyer shall provide the Seller Representative with notice of any
written inquiries, audits, examinations or proposed adjustments by the IRS or any other
Governmental Authority, which relate to any Pre-Closing Tax Periods within thirty (30) calendar
days of receipt of such notice. The Seller Representative shall have the sole right to represent
the

67

 

interests of Company and its Subsidiaries in any Tax audit or other proceeding relating to any
Pre-Closing Tax Period, to employ counsel of its choice at its own expense, and to settle any
issues and to take any other actions in connection with such proceedings relating to such taxable
periods; provided, however, that (i) the Sellers must acknowledge in writing their liability under
this Agreement to hold Buyer and the Company harmless against the full amount of any adjustment
which may be made as a result of such Tax audit or other proceeding relating to any Pre-Closing Tax
Period; (ii) the Seller Representative (a) shall use reasonable efforts to inform Buyer of the
status of any such proceedings, (b) shall make available to Buyer (at Buyer’s cost and expense)
copies of any pleadings, correspondence, and other documents as Buyer may reasonably request, (c)
shall consult with Buyer prior to the settlement of any such proceedings and (d) shall obtain the
prior written consent of Buyer prior to the settlement of any such proceedings that would affect
Buyer in any taxable period ending after the Closing Date, which consent shall not be unreasonably
withheld; provided further, however, that Buyer and counsel of its own choosing shall have the
right to participate in, but not direct, the prosecution or defense of such proceedings at Buyer’s
sole expense. Buyer shall have the right to control all other Tax audits or proceedings of Company;
provided, however, that Buyer shall not settle any such proceedings without the consent of the
Sellers, which consent shall not be unreasonably withheld, if the Sellers would incur any
additional Taxes for (i) Pre-Closing Tax Periods or (ii) the portion of the Straddle Tax Period
ending on the Closing Date. Buyer and the Company shall execute and deliver to the Seller
Representative such powers of attorney and other documents as may be necessary or appropriate to
give effect to the foregoing.

     12. Additional Terms and Provisions.

          12.1. No Third-Party Beneficiaries. This Agreement shall not confer any rights or
remedies upon any Person other than the Parties and their respective successors and permitted
assigns.

          12.2. Entire Agreement. This Agreement (including the documents referred to herein)
constitutes the entire agreement among the Parties and supersedes any prior understandings,
agreements, or representations by or among the Parties, written or oral, to the extent they related
in any way to the subject matter hereof (other than the Confidentiality Agreement); provided,
however, that the exhibits and schedules identified in this Agreement are incorporated herein by
reference and made a part hereof.

          12.3. Schedules. Schedule references in this Agreement refer to the Schedules.
Certain information included in the Schedules has been included solely for informational purposes.
The inclusion of information in the Schedules shall not be deemed an admission or acknowledgement
that such information is required to be listed in the schedules, that such items are material to
the Company or its Subsidiaries, that such items are expected to have a Material Adverse Effect or
that such items are within or outside of the ordinary course of business. Furthermore, the
inclusion in the Schedules of information or the exclusion of information from

68

 

the Schedules will not be deemed to establish any level of materiality for purposes of this
Agreement. The Schedules are arranged in sections corresponding to those contained in this
Agreement merely for convenience, and the disclosure of an item in one section or subsection of the
Schedules as an exception will be deemed adequately disclosed as an exception with respect to all
other covenants, representations or warranties to the extent the relevance of such disclosure is
reasonably apparent on its face to such other covenants, representations or warranties,
notwithstanding the presence or absence of any appropriate section or subsection of the Schedules
with respect to such other covenants, representations or warranties or an appropriate cross
reference thereto. The information and statements contained in the Schedules are not intended to
constitute and shall not be construed as constituting, representations, warranties, covenants or
agreements of the Sellers except as and to the extent provided in the text of this Agreement. Any
summary or description of any law or regulation, contract or other document contained in the
schedules is qualified in its entirety by the full text of such law or regulation, contract or
other document.

          12.4. Assignment. No Party hereto shall assign this Agreement or any part hereof
without the prior written consent of the other Parties; provided, however, Buyer may assign its
rights and obligations under this Agreement, in whole or in part, without consent, to any of its
Subsidiaries or Affiliates or any Person that acquires all or substantially all of the capital
stock or assets of Buyer or the Company and its Subsidiaries, provided that Buyer shall remain
directly liable for all of its obligations hereunder notwithstanding any such assignment. Subject
to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties
hereto and their respective permitted successors and assigns.

          12.5. Notices. All notices and other communications among the Parties shall be in
writing and shall be deemed to have been duly given (a) when delivered in person or by a nationally
recognized overnight courier service (costs prepaid), (b) five (5) days after posting in the United
States mail having been sent registered or certified mail return receipt requested, or (c) when
delivered by facsimile and promptly confirmed by delivery in person or post as aforesaid in each
case, with postage prepaid, addressed as follows:

If to the Seller Representative, to:

Touchstone Wireless Investment Partners, LLC

c/o Striker Partners

The Graham Group

3811 West Chester Pike

Building 2, Suite 150

Newtown Square, PA 19073

Attention: Mr. Derek R. Spence

Fax No.: (610) 722-0800

69

 

with copies to:

Dechert LLP

Cira Centre

2929 Arch Street

Philadelphia, PA 19104

Attention: David S. Denious, Esq.

Fax No.: (215) 994-2222

If to Buyer, to:

Brightpoint, Inc.

7635 Interactive Way, Suite 200

Indianapolis, Indiana 46278

Attention: Legal Department

Fax No.: (317) 707-2514

with copies to:

Blank Rome LLP

405 Lexington Avenue

New York, New York 10174

Attention: Robert J. Mittman

Fax No.: (212) 885-5001

or to such other address or addresses as the Parties may from time to time designate in writing.

          12.6. Controlling Law. THIS AGREEMENT IS MADE UNDER, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, APPLICABLE TO AGREEMENTS MADE AND
TO BE PERFORMED SOLELY THEREIN, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

          12.7. Jurisdiction and Process. In any action between or among any of the Parties,
whether arising out of this Agreement, any of the agreements contemplated hereby or otherwise, (a)
each of the Parties irrevocably consents to the exclusive jurisdiction and venue of the federal and
state courts located in New York, New York, (b) if any such action is commenced in a state court,
then, subject to applicable law, no Party shall object to the removal of such action to any federal
court located in New York, New York, (c) each of the Parties irrevocably agrees to designate a
service company located in the United States as its agent for service of process and consents to
service of process by first class certified mail, return receipt requested, postage prepaid, to the
address at which such Party is located, and (d) the prevailing Parties shall be

70

 

entitled to recover their reasonable attorneys’ fees, costs and disbursements from the other
Parties (in addition to any other relief to which the prevailing Parties may be entitled).

          12.8. Waiver of a Jury Trial. THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN
ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT,
TORT OR OTHERWISE. THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY
COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES
IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY ACTION OR PROCEEDING WHATSOEVER BETWEEN THEM
RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY SHALL INSTEAD BE TRIED IN A COURT
OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

          12.9. Specific Performance. The Parties agree that irreparable damage may occur if
any provision of this Agreement were not performed in accordance with the terms hereof and that the
Parties shall be entitled (without the requirement to post a bond or other security) to an
injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in addition to any other remedy to which they are entitled
at law or in equity. The rights and remedies of the Parties shall be cumulative (and not
alternative).

          12.10. Amendments and Waivers. No amendment of any provision of this Agreement shall
be valid unless the same shall be in writing and signed by Buyer and the Seller Representative. No
waiver by any Party of any default, misrepresentation, or breach of warranty or covenant hereunder,
whether intentional or not, shall be deemed to extend to any prior or subsequent default,
misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights
arising by virtue of any prior or subsequent such occurrence.

          12.11. Severability; No Waiver. Any term or provision of this Agreement that is
invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or
enforceability of the remaining terms and provisions hereof or the validity or enforceability of
the offending term or provision in any other situation or in any other jurisdiction. Except as
otherwise expressly provided herein, no failure to exercise, delay in exercising, or single or
partial exercise of any right, power or remedy by any Party, and no course of dealing between or
among any of the Parties, shall constitute a waiver of, or shall preclude any other or further
exercise of, any right, power or remedy.

71

 

          12.12. Expenses. Each of the Parties hereto will bear its own costs and expenses
(including legal, investment banker, and accounting fees and expenses) incurred in connection with
this Agreement and the transactions contemplated hereby.

          12.13. Full Understanding. Each of the Parties hereto hereby acknowledges and
confirms that his or its representatives have read and understand the entirety of this Agreement,
including, without limitation, the representations and warranties, covenants and indemnification
obligations contained herein.

          12.14. Construction. In construing this Agreement, including the exhibits and
schedules hereto, the following principles shall be followed: (a) the terms “herein,” “hereof,”
“hereby,” “hereunder” and other similar terms refer to this Agreement as a whole and not only to
the particular Article, Section or other subdivision in which any such terms may be employed; (b)
except as otherwise set forth herein, references to Articles, Sections, schedules and exhibits
refer to the Articles, Sections, schedules and exhibits of this Agreement, which are incorporated
in and made a part of this Agreement; (c) a reference to any Person shall include such Person’s
predecessors; (d) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP; (e) no consideration shall be given to the headings of the Articles,
Sections, schedules, exhibits, subdivisions, subsections or clauses, which are inserted for
convenience in locating the provisions of this Agreement and not as an aid in its construction; (f)
the word “includes” and “including” and their syntactical variants mean “includes, but is not
limited to” and “including, without limitation,” and corresponding syntactical variant expressions;
(g) a defined term has its defined meaning throughout this Agreement, regardless of whether it
appears before or after the place in this Agreement where it is defined, including in any schedule
or exhibit; (h) the word “dollar” and the symbol “$” refer to the lawful currency of the United
States of America; (i) the plural shall be deemed to include the singular and vice versa; and (h)
unless the context of this Agreement clearly requires otherwise, words importing the masculine
gender shall include the feminine and neutral genders and vice versa.

          12.15. Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original but all of which together will constitute one and the same
instrument.

          12.16. Headings. The section headings contained in this Agreement are inserted for
convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

          12.17. References. All words used in this Agreement shall be construed to be of such
number and gender as the context requires or permits.

          12.18. Provision Respecting Legal Representation. Each of the Parties hereby agrees,
on its own behalf and on behalf of its directors, members, partners, officers, employees and
affiliates, that Dechert LLP may serve as counsel to any of the Sellers or the Company and

72

 

their respective Affiliates (individually and collectively, the “Seller Group”), on the one
hand, and the Company, on the other hand, in connection with the negotiation, preparation,
execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby, and that, following consummation of the transactions contemplated hereby, Dechert LLP (or
any successor) may serve as counsel to the Seller Group or any individual member thereof or any
director, member, partner, officer, employee or affiliate of any member of the Seller Group or the
Company, in connection with any Proceeding, claim or obligation arising out of or relating to this
Agreement or the transactions contemplated by this Agreement, notwithstanding such representation
and each of the Parties hereby consents thereto and waives any conflict of interest arising
therefrom, and each of such Parties shall cause any affiliate thereof to consent to waive any
conflict of interest arising from such representation.

-Signature Page Follows- 

73

 

          IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Agreement Date.

BUYER:

BRIGHTPOINT NORTH AMERICA L.P.

By: Brightpoint North America, Inc., its general partner

	 	 	 	 	 
	 	By:  	/s/ STEVEN E. FIVEL
 	 
	 	 	Name:  	Steven E. Fivel 	 
	 	 	Title:  	Executive Vice President and Secretary 	 

	 	 	 	 	 
	 	TOUCHSTONE ACQUISITION LLC

 	 
	 	By:  	/s/ STEVEN E. FIVEL
 	 
	 	 	Name:  	Steven E. Fivel 	 
	 	 	Title:  	Executive Vice President and Secretary 	 

THE COMPANY:

	 	 	 	 	 
	 	TOUCHSTONE WIRELESS REPAIR AND LOGISTICS, LP

 	 
	 	By:  	/s/ JOHN COWLES
 	 
	 	 	Name:  	John Cowles 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

[Signature Page to Interest Purchase Agreement]

 

 

THE SELLERS:

	 	 	 	 	 
	 	TOUCHSTONE WIRELESS INVESTMENT PARTNERS, LLC

 	 
	 	By:  	/s/ Derek R. Spence	 
	 	 	Name:  	Derek R. Spence	 
	 	 	Title:  	Authorized Person	 
	 
	 	IMAGE 1 WIRELESS, INC.

 	 
	 	By:  	/s/ James Allen Hurley II	 
	 	 	Name:  	James Allen Hurley, II	 
	 	 	Title:  	President	 
	 
	 	EW INVESTMENT, LP

 	 
	 	By:  	/s/ Derek R. Spence	 
	 	 	Name:  	Derek R. Spence	 
	 	 	Title:  	Authorized Person	 
	 

	 	 	 

	/s/ John K. Cowles 

JOHN K. COWLES

	 	 

[Signature Page to Interest Purchase Agreement]

 

 

	 	 	 

	/s/ David Lundberg 

DAVID LUNDBERG

	 	 
	 
	 	 
	 
	 	 
	/s/ Jason Potter 

JASON POTTER

	 	 
	 
	 	 
	 
	 	 
	/s/ David Edwards 

DAVID EDWARDS

	 	 
	 
	 	 
	 
	 	 
	/s/ Chris Hawk 

CHRIS HAWK

	 	 
	 
	 	 
	 
	 	 
	/s/ Michael Ball 

MICHAEL BALL

	 	 
	 
	 	 
	 
	 	 
	/s/ Keith Clark 

KEITH CLARK

	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	/s/ David Hunter 

DAVID HUNTER

	 	 

Solely with respect to Sections 8.4.3 and 8.5(i):

	 	 	 	 	 
	STRIKER PARTNERS I, L.P.

 	 
	 	By:  	/s/ Derek R. Spence	 
	 	 	Name:  	Derek R. Spence	 
	 	 	Title:  	Managing Principal	 

[Signature Page to Interest Purchase Agreement]exv4w1

Exhibit 4.1

FIRST HORIZON NATIONAL CORPORATION

TO

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

INDENTURE

Dated as of                     

SENIOR DEBT SECURITIES

 

 

     Certain Sections of this Indenture Relating to Sections 310 Through 318, Inclusive, of the
Trust Indenture Act of 1939:

	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	Section 310
	 	(a)(1)	 	609
	 
	 	(a)(2)	 	609
	 
	 	(a)(3)	 	Not Applicable
	 
	 	(a)(4)	 	Not Applicable
	 
	 	(b)	 	608
	 
	 	 	 	610
	Section 311
	 	(a)	 	613
	 
	 	(b)	 	613
	Section 312
	 	(a)	 	701
	 
	 	 	 	702
	 
	 	(b)	 	702
	 
	 	(c)	 	702
	Section 313
	 	(a)	 	703
	 
	 	(b)	 	703
	 
	 	(c)	 	703
	 
	 	(d)	 	703
	Section 314
	 	(a)	 	704
	 
	 	(a)(4)	 	101
	 
	 	 	 	1004
	 
	 	(b)	 	Not Applicable
	 
	 	(c)(1)	 	102
	 
	 	(c)(2)	 	102
	 
	 	(c)(3)	 	Not Applicable
	 
	 	(d)	 	Not Applicable
	 
	 	(e)	 	102
	Section 315
	 	(a)	 	601
	 
	 	(b)	 	602
	 
	 	(c)	 	601
	 
	 	(d)	 	601
	 
	 	(e)	 	514
	Section 316
	 	(a)	 	101
	 
	 	(a)(1) (A)	 	502
	 
	 	 	 	512
	 
	 	(a)(1) (B)	 	513
	 
	 	(a)(2)	 	Not Applicable
	 
	 	(b)	 	508
	 
	 	(c)	 	104
	Section 317
	 	(a)(1)	 	503
	 
	 	(a)(2)	 	504
	 
	 	(b)	 	1003
	Section 318
	 	(a)	 	107

     NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture.

-i-

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE ONE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 101.

	 	Definitions
	 	 	1	 
	SECTION 102.

	 	Compliance Certificates and Opinions
	 	 	7	 
	SECTION 103.

	 	Form of Documents Delivered to Trustee
	 	 	7	 
	SECTION 104.

	 	Acts of Holders; Record Dates
	 	 	8	 
	SECTION 105.

	 	Notices, Etc., to Trustee and Company
	 	 	9	 
	SECTION 106.

	 	Notice to Holders; Waiver
	 	 	10	 
	SECTION 107.

	 	Conflict with Trust Indenture Act
	 	 	10	 
	SECTION 108.

	 	Effect of Headings and Table of Contents
	 	 	11	 
	SECTION 109.

	 	Successors and Assigns
	 	 	11	 
	SECTION 110.

	 	Separability Clause
	 	 	11	 
	SECTION 111.

	 	Benefits of Indenture
	 	 	11	 
	SECTION 112.

	 	Governing Law
	 	 	11	 
	SECTION 113.

	 	Legal Holidays
	 	 	11	 
	SECTION 114.

	 	Force Majeure
	 	 	11	 
	SECTION 115.

	 	Immunity of Incorporators, Limited Partners, Shareholders, Trustees, Directors and Officers
	 	 	12	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE TWO	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SECURITY FORMS	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 201.

	 	Forms Generally	 	 	12	 
	SECTION 202.

	 	Form of Face of Security
	 	 	12	 
	SECTION 203.

	 	Form of Reverse of Security
	 	 	14	 
	SECTION 204.

	 	Form of Legend for Global Securities in Global Form
	 	 	17	 
	SECTION 205.

	 	Form of Trustee’s Certificate of Authentication
	 	 	18	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE THREE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	THE SECURITIES	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 301.

	 	Amount Unlimited; Issuable in Series
	 	 	18	 
	SECTION 302.

	 	Denominations
	 	 	21	 
	SECTION 303.

	 	Execution, Authentication, Delivery and Dating
	 	 	21	 
	SECTION 304.

	 	Temporary Securities
	 	 	22	 
	SECTION 305.

	 	Registration; Registration of Transfer and Exchange
	 	 	23	 
	SECTION 306.

	 	Mutilated, Destroyed, Lost and Stolen Securities
	 	 	24	 
	SECTION 307.

	 	Payment of Interest; Interest Rights Preserved
	 	 	25	 
	SECTION 308.

	 	Persons Deemed Owners
	 	 	26	 
	SECTION 309.

	 	Cancellation
	 	 	26	 
	SECTION 310.

	 	Computation of Interest
	 	 	26	 
	SECTION 311.

	 	CUSIP Numbers
	 	 	26	 

-ii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE FOUR	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SATISFACTION AND DISCHARGE	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 401.

	 	Satisfaction and Discharge of Indenture
	 	 	26	 
	SECTION 402.

	 	Application of Trust Money
	 	 	27	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE FIVE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	REMEDIES	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 501.

	 	Events of Default
	 	 	28	 
	SECTION 502.

	 	Acceleration of Maturity; Rescission and Annulment
	 	 	29	 
	SECTION 503.

	 	Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	30	 
	SECTION 504.

	 	Trustee May File Proofs of Claim
	 	 	31	 
	SECTION 505.

	 	Trustee May Enforce Claims Without Possession of Securities
	 	 	31	 
	SECTION 506.

	 	Application of Money Collected
	 	 	31	 
	SECTION 507.

	 	Limitation on Suits
	 	 	32	 
	SECTION 508.

	 	Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	32	 
	SECTION 509.

	 	Restoration of Rights and Remedies
	 	 	32	 
	SECTION 510.

	 	Rights and Remedies Cumulative
	 	 	32	 
	SECTION 511.

	 	Delay or Omission Not Waiver
	 	 	33	 
	SECTION 512.

	 	Control by Holders
	 	 	33	 
	SECTION 513.

	 	Waiver of Past Defaults
	 	 	33	 
	SECTION 514.

	 	Undertaking for Costs
	 	 	33	 
	SECTION 515.

	 	Waiver of Usury, Stay or Extension Laws
	 	 	34	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE SIX	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	THE TRUSTEE	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 601.

	 	Certain Duties and Responsibilities
	 	 	34	 
	SECTION 602.

	 	Notice of Defaults
	 	 	35	 
	SECTION 603.

	 	Certain Rights of Trustee
	 	 	35	 
	SECTION 604.

	 	Not Responsible for Recitals or Issuance of Securities
	 	 	36	 
	SECTION 605.

	 	May Hold Securities
	 	 	36	 
	SECTION 606.

	 	Money Held in Trust
	 	 	37	 
	SECTION 607.

	 	Compensation and Reimbursement
	 	 	37	 
	SECTION 608.

	 	Conflicting Interests
	 	 	37	 
	SECTION 609.

	 	Corporate Trustee Required; Eligibility
	 	 	37	 
	SECTION 610.

	 	Resignation and Removal; Appointment of Successor
	 	 	38	 
	SECTION 611.

	 	Acceptance of Appointment by Successor
	 	 	39	 
	SECTION 612.

	 	Merger, Conversion, Consolidation or Succession to Business
	 	 	40	 
	SECTION 613.

	 	Preferential Collection of Claims Against Company
	 	 	40	 
	SECTION 614.

	 	Appointment of Authenticating Agent
	 	 	40	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE SEVEN	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 701.

	 	Company to Furnish Trustee Names and Addresses of Holders
	 	 	42	 
	SECTION 702.

	 	Preservation of Information; Communications to Holders
	 	 	42	 

-iii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	SECTION 703.
	 	Reports by Trustee
	 	 	42
	 
	SECTION 704.
	 	Reports by Company	 	 	43	 
	 

	 	ARTICLE EIGHT	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 801.

	 	Company May Consolidate, Etc., Only on Certain Terms
	 	 	43	 
	SECTION 802.

	 	Successor Substituted
	 	 	44	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE NINE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SUPPLEMENTAL INDENTURES	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 901.

	 	Supplemental Indentures Without Consent of Holders
	 	 	44	 
	SECTION 902.

	 	Supplemental Indentures With Consent of Holders
	 	 	45	 
	SECTION 903.

	 	Execution of Supplemental Indentures
	 	 	46	 
	SECTION 904.

	 	Effect of Supplemental Indentures
	 	 	46	 
	SECTION 905.

	 	Conformity with Trust Indenture Act
	 	 	47	 
	SECTION 906.

	 	Reference in Securities to Supplemental Indentures
	 	 	47	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE TEN	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	COVENANTS	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1001.

	 	Payment of Principal, Premium and Interest
	 	 	47	 
	SECTION 1002.

	 	Maintenance of Office or Agency
	 	 	47	 
	SECTION 1003.

	 	Money for Securities Payments to Be Held in Trust
	 	 	47	 
	SECTION 1004.

	 	Statement by Officers as to Default
	 	 	48	 
	SECTION 1005.

	 	Waiver of Certain Covenants
	 	 	49	 
	SECTION 1006.

	 	Existence
	 	 	49	 
	SECTION 1007.

	 	Limitation on Liens on Voting Stock of Significant Subsidiaries
	 	 	49	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE ELEVEN	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	REDEMPTION OF SECURITIES	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1101.

	 	Applicability of Article
	 	 	49	 
	SECTION 1102.

	 	Election to Redeem; Notice to Trustee
	 	 	49	 
	SECTION 1103.

	 	Selection by Trustee of Securities to Be Redeemed
	 	 	50	 
	SECTION 1104.

	 	Notice of Redemption
	 	 	50	 
	SECTION 1105.

	 	Deposit of Redemption Price
	 	 	51	 
	SECTION 1106.

	 	Securities Payable on Redemption Date
	 	 	51	 
	SECTION 1107.

	 	Securities Redeemed in Part
	 	 	51	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE TWELVE	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SINKING FUNDS	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1201.

	 	Applicability of Article
	 	 	52	 
	SECTION 1202.

	 	Satisfaction of Sinking Fund Payments with Securities
	 	 	52	 
	SECTION 1203.

	 	Redemption of Securities for Sinking Fund
	 	 	52	 

-iv-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE THIRTEEN	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	DEFEASANCE AND COVENANT DEFEASANCE	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1301.

	 	Company’s Option to Effect Defeasance or Covenant Defeasance
	 	 	53	 
	SECTION 1302.

	 	Defeasance and Discharge
	 	 	53	 
	SECTION 1303.

	 	Covenant Defeasance
	 	 	53	 
	SECTION 1304.

	 	Conditions to Defeasance or Covenant Defeasance
	 	 	54	 
	SECTION 1305.

	 	Deposited Money and U.S. Government Obligations to Be Held in Trust;
Miscellaneous Provisions
	 	 	55	 
	SECTION 1306.

	 	Reinstatement
	 	 	56	 

     NOTE: This table of contents shall not, for any purpose, be deemed to be a part of the
Indenture.

-v-

 

     INDENTURE, dated as of                     , between First Horizon National Corporation, a corporation duly
organized and existing under the laws of the State of Tennessee (herein called the “Company”),
having its principal office at 165 Madison Avenue, Memphis, Tennessee 38103, and The Bank of New
York Mellon Trust Company, N.A., a national banking association duly organized and existing under
the laws of the United States of America, as Trustee (herein called the “Trustee”).

RECITALS OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as in this
Indenture provided.

     All things necessary to make this Indenture a valid agreement of the Company, in accordance
with its terms, have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the
Securities or of series thereof, as follows:

ARTICLE ONE

DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION

     SECTION 101. Definitions.

     For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

     (1) the terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular;

     (2) all other terms used herein which are defined in the Trust Indenture Act, either directly
or by reference therein, have the meanings assigned to them therein;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles, and, except as otherwise herein expressly
provided, the term “generally accepted accounting principles” with respect to any computation
required or permitted hereunder shall mean such accounting principles as are generally accepted in
the United States of America at the date of such computation;

     (4) unless the context otherwise requires, any reference to an “Article” or a “Section” refers
to an Article or a Section, as the case may be, of this Indenture;

     (5) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision; and

     (6) reference to any gender includes the other gender.

 

 

     “Act”, when used with respect to any Holder, has the meaning specified in Section 104.

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

     “Applicable Procedures” of a Depositary means, with respect to any matter at any time, the
policies and procedures of such Depositary, if any, that are applicable to such matter at such
time.

     “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to
act on behalf of the Trustee to authenticate Securities of one or more series.

     “Board of Directors” means either the board of directors of the Company, or any duly
authorized committee of that board, or any committee of one or more officers of the Company
authorized by the Board of Directors to issue Securities.

     “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in New York, New York or that Place of Payment are authorized or obligated by law or
executive order to close.

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Exchange Act, or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under the Trust Indenture
Act, then the body performing such duties at such time.

     “Company” means the Person named as the “Company” in the first paragraph of this instrument
until a successor Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor Person.

     “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by its Chief Executive Officer, its Chief Financial Officer, the Chairman of the Board
(if at that time the person holding that title is an officer of the Company), its President or a
Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant
Secretary, and delivered to the Trustee.

     “Corporate Trust Office” means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the date hereof is located at 2
North LaSalle Street, Suite 1020, Chicago, IL 60602, Attention: Corporate Trust Administration, or
such other address as the Trustee may designate from time to time by notice to the Holders and the
Company, or the principal corporate trust office of any successor Trustee (or such other address as
such successor Trustee may designate from time to time by notice to the Holders and the Company).

-2-

 

     “corporation” means a corporation, association, company, including, without limitation, a
limited liability company, joint-stock company or business trust.

     “Covenant Defeasance” has the meaning specified in Section 1303.

     “Defaulted Interest” has the meaning specified in Section 307.

     “Defeasance” has the meaning specified in Section 1302.

     “Depositary” means, with respect to Securities of any series issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under the Exchange Act that
is designated to act as Depositary for such Securities as contemplated by Section 301.

     “Event of Default” has the meaning specified in Section 501.

     “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in
each case as amended from time to time.

     “Expiration Date” has the meaning specified in Section 104.

     “Foreign Government Obligations” has the meaning specified in Section 1304.

     “Global Security” means a Security that evidences all or part of the Securities of any series
and bears the legend set forth in Section 204 (or such legend as may be specified as contemplated
by Section 301 for such Securities).

     “Holder” means a Person in whose name a Security is registered in the Security Register.

     “Indenture” means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, including, for all purposes of this instrument and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture”
shall also include the terms of particular series of Securities established as contemplated by
Section 301.

     “Interest”, when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, means interest payable after Maturity.

     “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

     “Investment Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time.

     “Maturity”, when used with respect to any Security, means the date on which the principal of,
or an installment of principal of, such Security becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise.

-3-

 

     “Notice of Default” means a written notice of the kind specified in Section 501(4) or 501(5).

     “Officers’ Certificate” means a certificate signed by the Chief Executive Officer, the Chief
Financial Officer, the Chairman of the Board (if at that time the person holding that title is an
officer of the Company), the President or a Vice President, and by the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.
One of the officers signing an Officers’ Certificate given pursuant to Section 1004 shall be the
principal executive, financial or accounting officer of the Company.

     “Opinion of Counsel” means a written opinion, reasonably acceptable to the Trustee, of
counsel, who may be counsel for the Company.

     “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.

     “Outstanding”, when used with respect to Securities, means, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture, except:

     (1) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

     (2) Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set
aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for
the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of
such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory
to the Trustee has been made;

     (3) Securities as to which Defeasance has been effected pursuant to Section 1302; and

     (4) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of
which other Securities have been authenticated and delivered pursuant to this Indenture, other than
any such Securities in respect of which there shall have been presented to the Trustee proof
satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such
Securities are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given, made or taken any request, demand, authorization, direction,
notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an
Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity
thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable
at the Stated Maturity of a Security is not determinable, the principal amount of such Security
which shall be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 301, (C) the principal amount of a Security denominated in one or more
foreign currencies, currency units or composite currencies which shall be deemed to be Outstanding
shall be the U.S. dollar equivalent,

-4-

 

determined as of such date in the manner provided as contemplated by Section 301, of the principal
amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the
amount determined as provided in such Clause), and (D) Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other obligor, other than
securities held in trust or in a fiduciary capacity, shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent, waiver or other action, only
Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Securities and that the pledgee is not the Company or any other obligor upon the Securities
or any Affiliate of the Company or of such other obligor.

     “Paying Agent” means any Person authorized by the Company to pay the principal of or any
premium or interest on any Securities on behalf of the Company.

     “Person” means any individual, corporation, partnership, limited liability company, joint
venture, trust, unincorporated organization or government or any agency or political subdivision
thereof.

     “Place of Payment”, when used with respect to the Securities of any series, means the place or
places where the principal of and any premium and interest on the Securities of that series are
payable as specified as contemplated by Section 301.

     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

     “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture.

     “Redemption Price”, when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 301.

     “Responsible Officer”, when used with respect to the Trustee, means any vice president, any
trust officer or assistant trust officer, or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated officers and who
shall have direct responsibility for the administration of this indenture and also means, with
respect to a particular corporate trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular subject.

     “Securities” has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture.

     “Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each
case as amended from time to time.

-5-

 

     “Security Register” and “Security Registrar” have the respective meanings specified in Section
305.

     “Significant Subsidiary” means a Subsidiary of the Company having, as of the last day of the
most recent calendar quarter ended at least 30 days prior to the date of such determination (or if
the most recent calendar quarter ended 30 days or less prior to the date of such determination, as
of the preceding recent calendar quarter), total assets equal to or exceeding 20% of the total
assets of the Company and its Subsidiaries on a consolidated basis, as evidenced by the most recent
consolidated financial statements of the Company delivered to the Trustee pursuant to the
Indenture.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 307.

     “Stated Maturity”, when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security as the fixed date on which
the principal of such Security or such installment of principal or interest is due and payable.

     “Subsidiary” of any Person means (a) any corporation, association or other business entity
(other than a partnership, joint venture, limited liability company or similar entity) of which
more than 50% of the outstanding Voting Stock or (b) any partnership, joint venture limited
liability company or similar entity of which more than 50% of the capital accounts, distribution
rights, total equity and voting interests or general or limited partnership interests, as
applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or
indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3)
one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a
Subsidiary will refer to a Subsidiary of the Company.

     “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of
which this instrument was executed; provided, however, that in the event the Trust Indenture Act of
1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such
amendment, the Trust Indenture Act of 1939 as so amended.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to
the Securities of any series shall mean the Trustee with respect to Securities of that series.

     “U.S. Government Obligation” has the meaning specified in Section 1304.

     “Vice President”, when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title
“vice president”.

     “Voting Stock” means stock or other interests evidencing ownership in a corporation,
partnership or trust which ordinarily has voting power for the election of directors, or persons
performing equivalent functions, whether at all times or only so long as no senior class of stock
has such voting power by reason of any contingency.

-6-

 

     SECTION 102. Compliance Certificates and Opinions.

     Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee such certificates and
opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall
be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or
an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the
Trust Indenture Act and any other requirement set forth in this Indenture.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (except for certificates provided for in Section 1004) shall include,

     (1) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;

     (2) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of each such individual, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and

     (4) a statement as to whether, in the opinion of each such individual, such condition or
covenant has been complied with.

     SECTION 103. Form of Documents Delivered to Trustee.

     In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

     Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to
factual matters, upon a certificate or opinion of, or representations by, an officer or officers of
the Company stating that the information with respect to such factual matters is in the possession
of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that
the certificate or opinion or representations with respect to such matters are erroneous.

     Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

-7-

 

     SECTION 104. Acts of Holders; Record Dates.

     Any request, demand, authorization, direction, notice, consent, waiver or other action
provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing; and, except as herein otherwise expressly
provided, such action shall become effective when such instrument or instruments are delivered to
the Trustee and, where it is hereby expressly required, to the Company. Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred
to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if
made in the manner provided in this Section.

     The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a notary public or
other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof or may be proved in
such other manner as shall be deemed sufficient by the Trustee. Where such execution is by a signer
acting in a capacity other than his individual capacity, such certificate or affidavit shall also
constitute sufficient proof of his authority. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any
other manner which the Trustee deems sufficient.

     The principal amount, serial numbers and ownership of Securities shall be proved by the
Security Register.

     Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security.

     Without limiting the generality of the foregoing, a Holder, including a Depositary that is a
Holder of a Global Security, may make, give or take, by proxy or proxies, duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver or other action
provided or permitted in this Indenture to be made, given or taken by Holders, and a Depositary
that is a Holder of a Global Security may provide its proxy or proxies to the beneficial owners of
interests in any such Global Security.

     The Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by this
Indenture to be given, made or taken by Holders of Securities of such series, provided that the
Company may not set a record date for, and the provisions of this paragraph shall not apply with
respect to, the giving or making of any notice, declaration, request or direction referred to in
the next paragraph. If any record date is set pursuant to this paragraph, the Holders of
Outstanding Securities of the relevant series on such record date, and no other Holders, shall be
entitled to take the relevant action, whether or not such Holders remain Holders after such record
date; provided that no such action shall be effective hereunder unless taken on or prior to the
applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities
of such series on such record date. Nothing in this paragraph shall be construed to prevent the
Company from setting a new record date for any action for which a record date has previously been
set pursuant to this paragraph (whereupon the record date previously set shall automatically and
with no action by any

-8-

 

Person be cancelled and of no effect), and nothing in this paragraph shall be construed to
render ineffective any action taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on or prior to the date such action is taken. Promptly after any
record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice
of such record date, the proposed action by Holders and the applicable Expiration Date to be given
to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set
forth in Section 106.

     The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of
Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to
institute proceedings referred to in Section 507(2) or (iv) any direction referred to in Section
512, in each case with respect to Securities of such series. If any record date is set pursuant to
this paragraph, the Holders of Outstanding Securities of such series on such record date, and no
other Holders, shall be entitled to join in such notice, declaration, request or direction, whether
or not such Holders remain Holders after such record date; provided that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the
requisite principal amount of Outstanding Securities of such series on such record date. Nothing in
this paragraph shall be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this paragraph (whereupon the
record date previously set shall automatically and with no action by any Person be cancelled and of
no effect), and nothing in this paragraph shall be construed to render ineffective any action taken
by Holders of the requisite principal amount of Outstanding Securities of the relevant series on or
prior to the date such action is taken. Promptly after any record date is set pursuant to this
paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Company in writing
and to each Holder of Securities of the relevant series in the manner set forth in Section 106.

     With respect to any record date set pursuant to this Section, the party hereto which sets such
record date may designate any day as the “Expiration Date” and from time to time may change the
Expiration Date to any earlier or later day; provided that no such change shall be effective unless
notice of the proposed new Expiration Date is given to the other party hereto in writing, and to
each Holder of Securities of the relevant series in the manner set forth in Section 106, on or
prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any
record date set pursuant to this Section, the party hereto which set such record date shall be
deemed to have initially designated the 180th day after such record date as the Expiration Date
with respect thereto, subject to its right to change the Expiration Date as provided in this
paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day
after the applicable record date.

     Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the principal amount
of such Security or by one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such principal amount.

     SECTION 105. Notices, Etc., to Trustee and Company.

     Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate
Trust Office, Attention: Corporate Trust Administration, or

-9-

 

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office specified in
the first paragraph of this instrument or at any other address previously furnished in writing to
the Trustee by the Company. The Company or the Trustee by written notice to the other may
designate additional or different addresses for subsequent notices or communications.

     The Trustee agrees to accept and act upon instructions or directions pursuant to this
Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured
electronic methods, provided, however, that the Trustee shall have received an incumbency
certificate listing persons designated to give such instructions or directions and containing
specimen signatures of such designated persons, which such incumbency certificate shall be amended
and replaced whenever a person is to be added or deleted from the
listing. If the Company elects to
give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method)
and the Trustee in its discretion elects to act upon such instructions, the Trustee’s reasonable
understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for
any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and
compliance with such instructions.  The Company agrees to assume all risks arising out of the use
of such electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or
interception and misuse by third parties.

     SECTION 106. Notice to Holders; Waiver.

     Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address as it appears in
the Security Register
or provided  through  the Applicable  Procedures of the Depository, not later than the latest date (if any), and not earlier than the earliest
date (if any), prescribed for the giving of such notice. In any case where notice to Holders is
given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to
any particular Holder shall affect the sufficiency of such notice with respect to other Holders.
Where this Indenture provides for notice in any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and such waiver shall be
the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but
such filing shall not be a condition precedent to the validity of any action taken in reliance upon
such waiver.

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

     SECTION 107. Conflict with Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act which is required under such Act to be a part of and govern this Indenture, the latter
provision shall control. If any provision of this Indenture modifies or excludes any provision of
the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed
to apply to this Indenture as so modified or to be excluded, as the case may be.

-10-

 

     SECTION 108. Effect of Headings and Table of Contents.

     The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

     SECTION 109. Successors and Assigns.

     All covenants and agreements in this Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

     SECTION 110. Separability Clause.

     In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     SECTION 111. Benefits of Indenture.

     Nothing in this Indenture or in the Securities, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder and the Holders, any benefit or any
legal or equitable right, remedy or claim under this Indenture.

     SECTION 112. Governing Law.

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York.

     SECTION 113. Legal Holidays.

     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities (other than a provision of any Security which
specifically states that such provision shall apply in lieu of this Section)) payment of interest
or principal (and premium, if any) need not be made at such Place of Payment on such date, but may
be made on the next succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity; provided
that no interest shall accrue as a result of such delay.

     SECTION 114. Force Majeure.

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

-11-

 

     SECTION 115. Immunity of Incorporators, Limited Partners, Shareholders, Trustees, Directors
and Officers.

     No recourse shall be had for the payment of the principal of (and premium, if any), or the
interest, if any, on any Securities of any series, or for any claim based thereon, or upon any
obligation, covenant or agreement of this Indenture, against any incorporator, limited partner,
shareholder, trustee, director, officer or employee, as such, past, present or future, of the
Company or of any successor entity to the Company, either directly or indirectly through the
Company or any successor entity to the Company, whether by virtue of any constitution, statute,
rule of law or by the enforcement of any assessment of penalty or otherwise; it being expressly
agreed and understood that this Indenture, and all the Securities of each series are solely
obligations of the Company (as the case may be), and that no personal liability whatever shall
attach to, or is incurred by, any incorporator, limited partner, shareholder, trustee, director,
officer or employee, past, present or future, of the Company or of any successor entity to the
Company, either directly or indirectly through the Company or any successor corporation to the
Company, because of the incurring of the indebtedness hereby authorized or under or by reason of
any of the obligations, covenants or agreements contained in this Indenture or in any of the
Securities of any series, or to be implied herefrom or therefrom; and that all such personal
liability is hereby expressly released and waived as a condition of, and as part of the
consideration for, the execution of this Indenture and the issuance of the Securities of each
series.

ARTICLE TWO

SECURITY FORMS

     SECTION 201. Forms Generally.

     The Securities of each series shall be in substantially the form set forth in this Article, or
in such other form as shall be established from time to time by or pursuant to a Board Resolution
or in one or more indentures supplemental hereto, in each case with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture or any
indentures supplemental hereto, and may have such letters, numbers or other marks of identification
or designation and such legends or endorsements placed thereon as the Company may deem appropriate
or as may be required to comply with the rules of any securities exchange or Depositary therefor or
as may, consistently herewith, be determined by the officers executing such Securities, as
evidenced by their execution thereof. If the form of Securities of any series is established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall
be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee
at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication
and delivery of such Securities.

     The definitive Securities shall be printed, lithographed or engraved on steel engraved borders
or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

     SECTION 202. Form of Face of Security.

[Insert any legend required by the Internal Revenue Code and the regulations thereunder.] THIS NOTE
IS NOT A DEPOSIT AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER
GOVERNMENTAL AGENCY.

-12-

 

FIRST HORIZON NATIONAL CORPORATION

			
	 	 	 
	No.                     
	 	$                    

First Horizon National Corporation, a corporation duly organized and existing under the laws of
Tennessee (herein called the “Company”, which term includes any successor Person under the
Indenture hereinafter referred to), for value received, hereby promises to pay to                                                             , or registered
assigns, the principal sum of                                          Dollars on                                 
         [if the Security is to bear interest prior to
Maturity, insert — , and to pay interest thereon from                      or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, semi-annually on                      and                      in each year,
commencing                     , at the rate of      % per annum, until the principal hereof is paid or made available for
payment [if applicable, insert —, provided that any principal and premium, and any such
installment of interest, which is overdue shall bear interest at the rate of      % per annum (to the
extent that the payment of such interest shall be legally enforceable), from the dates such amounts
are due until they are paid or made available for payment, and such interest shall be payable on
demand]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the                      or                      (whether or not a Business Day), as the case may
be, next preceding such Interest Payment Date. Any such interest so payable, but not so punctually
paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture].

     [If the Security is not to bear interest prior to Maturity, insert — The principal of this
Security shall not bear interest except in the case of a default in payment of principal upon
acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any
overdue premium shall bear interest at the rate of      % per annum (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are due until they are
paid or made available for payment. Interest on any overdue principal or premium shall be payable
on demand. [Any such interest on overdue principal or premium which is not paid on demand shall
bear interest at the rate of      % per annum (to the extent that the payment of such interest on
interest shall be legally enforceable), from the date of such demand until the amount so demanded
is paid or made available for payment. Interest on any overdue interest shall be payable on
demand.]]

     Payment of the principal of (and premium, if any) and [if applicable, insert — any such]
interest on this Security will be made at the office or agency of the Company maintained for that
purpose in                     , in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts, against surrender of this Security in the
case of any payment due at the Stated Maturity of the principal hereof; [if applicable, insert —;
provided, however, that at the option of the Company payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall appear in the Security
Register; and provided, further, that if this Security is a Global Security, payment may be made
pursuant to the Applicable Procedures of the Depositary as permitted in the Indenture.]

-13-

 

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

Dated:

FIRST HORIZON NATIONAL CORPORATION

BY                                        

Attest:

                                        

     SECTION 203. Form of Reverse of Security.

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
                     (herein called the “Indenture”, which term shall have the meaning assigned to it in such
instrument), between the Company and                     , as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), and reference is hereby made to the Indenture
for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [if applicable, insert, limited in aggregate principal amount to
$_________] [, provided that the Company may, without the consent of any Holder, at any time and
from time to time increase the initial principal amount as provided in the Indenture].

     [If applicable, insert — The Securities of this series are subject to redemption upon not
less than 30 days’ notice by mail, [if applicable, insert - — (1) on                      in any year commencing
with the year _____ and ending with the year _____ through operation of the sinking fund for this series
at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [if applicable,
insert — on or after                     , 20_____], as a whole or in part, at the election of the Company, at the
following Redemption Prices (expressed as percentages of the principal amount): If redeemed [if
applicable, insert — on or before                     , _____%, and if redeemed] during the 12-month period beginning
                     of the years indicated,

	 	 	 	 	 
	Redemption Price	 	Year	 
	 
	 	 	 	 

and thereafter at a Redemption Price equal to _____% of the principal amount, together in the case of
any such redemption [if applicable, insert — (whether through operation of the sinking fund or
otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more

-14-

 

Predecessor Securities, of record at the close of business on the relevant Record Dates referred to
on the face hereof, all as provided in the Indenture.]

     [If applicable, insert — The Securities of this series are subject to redemption upon not
less than 30 days’ notice by mail, (1) on                      in any year commencing with the year _____ and ending with
the year through operation of the sinking fund for this series at the Redemption Prices for
redemption through operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below, and (2) at any time [if applicable, insert — on or after                     , 20_____], as
a whole or in part, at the election of the Company, at the Redemption Prices for redemption
otherwise than through operation of the sinking fund (expressed as percentages of the principal
amount) set forth in the table below: If redeemed during the 12-month period beginning                      of the
years indicated,

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Redemption Price	 
	 	 	Redemption Price	 	 	For Redemption	 
	 	 	For Redemption	 	 	Otherwise Than	 
	 	 	Through Operation	 	 	Through Operation	 
	 	 	of the	 	 	of the	 
	Year	 	Sinking Fund	 	 	Sinking Fund	 
	 
	 	 	 	 	 	 	 	 

and thereafter at a Redemption Price equal to _____% of the principal amount, together in the case of
any such redemption (whether through operation of the sinking fund or otherwise) with accrued
interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to
such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face
hereof, all as provided in the Indenture.]

     [If applicable, insert — Notwithstanding the foregoing, the Company may not, prior to                     ,
redeem any Securities of this series as contemplated by [if applicable, insert — Clause (2) of]
the preceding paragraph as a part of, or in anticipation of, any refunding operation by the
application, directly or indirectly, of moneys borrowed having an interest cost to the Company
(calculated in accordance with generally accepted financial practice) of less than               % per annum.]

     [If applicable, insert — The sinking fund for this series provides for the redemption on                      in
each year beginning with the year _____ and ending with the year _____ of [if applicable, insert — not
less than $                     (“mandatory sinking fund”) and not more than] $                     aggregate principal amount of
Securities of this series. Securities of this series acquired or redeemed by the Company otherwise
than through [if applicable, insert — mandatory] sinking fund payments may be credited against
subsequent
[if applicable, insert — mandatory] sinking fund payments otherwise required to be made [if
applicable, insert — , in the inverse order in which they become due].]

     [If the Security is subject to redemption of any kind, insert — In the event of redemption of
this Security in part only, a new Security or Securities of this series and of like tenor for the
unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation
hereof.]

     [If applicable, insert — The Indenture contains provisions for defeasance at any time of [the
entire indebtedness of this Security] [or] [certain restrictive covenants and Events of Default
with respect to this Security] [, in each case] upon compliance with certain conditions set forth
in the Indenture.]

-15-

 

     [If the Security is not an Original Issue Discount Security, insert — If an Event of Default
with respect to Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.]

     [If the Security is an Original Issue Discount Security, insert — If an Event of Default with
respect to Securities of this series shall occur and be continuing, an amount of principal of the
Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. Such amount shall be equal to — insert formula for determining the
amount.]

     [Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest
on any overdue principal, premium and interest (in each case to the extent that the payment of such
interest shall be legally enforceable), all of the Company’s obligations in respect of the payment
of the principal of and premium and interest, if any, on the Securities of this series shall
terminate.]

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
 indemnity reasonably satisfactory to the Trustee, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and any premium and interest on this Security at the times, place and rate, and in
the coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of and any premium and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his

-16-

 

attorney duly authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $                     and any integral multiple of $                     in excess thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

     [If applicable, insert — Interest on the principal balance of this Security shall be
calculated on the basis of a [365 or 366 day year, as appropriate, for the actual number of days
elapsed] [360 day year of twelve 30 day months.]]

     THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

     All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

     SECTION 204. Form of Legend for Global Securities in Global Form.

     If any Security of a series is issuable in global form, such Global Security may provide that
it shall represent the aggregate amount of Outstanding Securities from time to time endorsed
thereon and may also provide that the aggregate amount of Outstanding Securities represented
thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Global
Security to reflect the amount, or any increase or decrease in the amount, of Outstanding
Securities represented thereby shall be made by the Trustee and in such manner as shall be
specified in such Global Security.

     Global Securities may be issued in either temporary or permanent form. Permanent Global
Securities will be issued in registered form without coupons.

     Unless otherwise specified as contemplated by Section 301 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form:

     THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE
EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE
OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON

-17-

 

OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

     [If a Global Security is to be held by The Depository Trust Company, then insert: UNLESS THIS
NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE& CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO. HAS AN INTEREST HEREIN.]

     SECTION 205. Form of Trustee’s Certificate of Authentication.

     The Trustee’s certificates of authentication shall be in substantially the following form:

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A, as Trustee

 	 
	Date:                                          	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

ARTICLE THREE

THE SECURITIES

     SECTION 301. Amount Unlimited; Issuable in Series.

     The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

     The Securities may be issued in one or more series. There shall be established in or pursuant
to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided,
in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series:

     (1) the title of the Securities of the series (which shall distinguish the Securities of the
series from Securities of any other series);

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     (2) any limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series
pursuant to Section 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to
Section 303, are deemed never to have been authenticated and delivered hereunder);

     (3) the Person to whom any interest on a Security of the series shall be payable, if other
than the Person in whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest;

     (4) the date or dates on which the principal of any Securities of the series is payable;

     (5) the rate or rates (which may be fixed or variable), or the method of determination
thereof, at which any Securities of the series shall bear interest, if any, the date or dates from
which any such interest shall accrue, or the method of determination thereof, the Interest Payment
Dates on which any such interest shall be payable and the Regular Record Date for any such interest
payable on any Interest Payment Date;

     (6) the place or places where the principal of and any premium and interest on any Securities
of the series shall be payable;

     (7) the period or periods within which, the price or prices at which and the terms and
conditions upon which any Securities of the series may be redeemed, in whole or in part, at the
option of the Company and, if other than by a Board Resolution, the manner in which any election by
the Company to redeem the Securities shall be evidenced;

     (8) the obligation, if any, of the Company to redeem or purchase any Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the
period or periods within which, the price or prices at which and the terms and conditions upon
which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to
such obligation;

     (9) if other than denominations of $1,000 and any integral multiple thereof, the denominations
in which any Securities of the series shall be issuable;

     (10) if the amount of principal of or any premium or interest on any Securities of the series
may be determined with reference to a financial or economic measure, or to an index or pursuant to
a formula, the manner in which such amounts shall be determined;

     (11) if other than the currency of the United States of America, the currency, currencies,
currency units or composite currency in which the principal of or any premium or interest on any
Securities of the series shall be payable and the manner of determining the equivalent thereof in
the currency of the United States of America for any purpose, including for purposes of the
definition of “Outstanding” in Section 101;

     (12) if the principal of or any premium or interest on any Securities of the series is to be
payable, at the election of the Company or the Holder thereof, in one or more currencies, currency
units or composite currencies other than that or those in which such Securities are stated to be
payable, the currency, currencies, currency units or composite currencies in which the principal of
or any premium or interest on such Securities as to which such election is made shall be payable,
the periods within which

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and the terms and conditions upon which such election is to be made and the amount so payable
(or the manner in which such amount shall be determined);

     (13) if other than the entire principal amount thereof, the portion of the principal amount of
any Securities of the series which shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 502;

     (14) if the principal amount payable at the Stated Maturity of any Securities of the series
will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which
shall be deemed to be the principal amount of such Securities as of any such date for any purpose
thereunder or hereunder, including the principal amount thereof which shall be due and payable upon
any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any
date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to
be the principal amount shall be determined);

     (15) if applicable, that the Securities of the series, in whole or any specified part, shall
be defeasible pursuant to Section 1302 or Section 1303 or both such Sections and, if other than by
a Board Resolution, the manner in which any election by the Company to defease such Securities
shall be evidenced;

     (16) if applicable, that any Securities of the series shall be issuable in whole or in part in
the form of one or more Global Securities and, in such case, the respective Depositaries for such
Global Securities, the form of any legend or legends which shall be borne by any such Global
Security in addition to or in lieu of that set forth in Section 204 and any circumstances in
addition to or in lieu of those set forth in Clause (2) of the last paragraph of Section 305 in
which any such Global Security may be exchanged in whole or in part for Securities registered, and
any transfer of such Global Security in whole or in part may be registered, in the name or names of
Persons other than the Depositary for such Global Security or a nominee thereof;

     (17) any addition to or change in the Events of Default which applies to any Securities of the
series and any change in the right of the Trustee or the requisite Holders of such Securities to
declare the principal amount thereof due and payable pursuant to Section 502;

     (18) any addition to or change in the covenants set forth in Article Ten which applies to
Securities of the series;

     (19) if other than as specified in Section 501, the Events of Default applicable to the
Securities of such series;

     (20) if other than as specified in Section 503, the Event of Defaults applicable with respect
to the Securities of the series; and

     (21) any other terms of the series (which terms shall not be inconsistent with the provisions
of this Indenture, except as permitted by Section 901(5)).

     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to above
and (subject to Section 303) set forth, or determined in the manner provided, in the Officers’
Certificate referred to above or in any such indenture supplemental hereto. All Securities of any
one series need not be issued at one time and, unless otherwise provided or contemplated by this
Section 301 with respect to a

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series of Securities, additional Securities of a series may be issued at the option of the
Company, without the consent of any Holder, at any time and from time to time.

     If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of
the Officers’ Certificate setting forth the terms of the series.

     SECTION 302. Denominations.

     The Securities of each series shall be issuable only in registered form without coupons and
only in such denominations as shall be specified as contemplated by Section 301. In the absence of
any such specified denomination with respect to the Securities of any series, the Securities of
such series shall be issuable in denominations of $1,000 and any integral multiple in excess
thereof.

     SECTION 303. Execution, Authentication, Delivery and Dating.

     The Securities shall be executed on behalf of the Company by its Chairman of the Board of
Directors, its Vice Chairman of the Board of Directors, its President or one of its Vice
Presidents, attested by its Secretary, one of its Assistant Secretaries or other authorized Person
of the Company. The signature of any of these officers on the Securities may be manual or
facsimile.

     Securities bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of issuance of such Securities.

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver
such Securities. If any Security shall be represented by a permanent Global Security, then, for
purposes of this Section and Section 304, the notation of a beneficial owner’s interest therein
upon original issuance of such Security or upon exchange of a portion of a temporary Global
Security shall be deemed to be delivered in connection with the original issuance of such
beneficial owner’s interest in such permanent Global Security. If the form or terms of the
Securities of the series have been established by or pursuant to one or more Board Resolutions as
permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall receive,
and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel
stating:

     (1) if the form of such Securities has been established by or pursuant to Board Resolution as
permitted by Section 201, that such form has been established in conformity with the provisions of
this Indenture;

     (2) if the terms of such Securities have been established by or pursuant to Board Resolution
as permitted by Section 301, that such terms have been established in conformity with the
provisions of this Indenture; and

     (3) that such Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will

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constitute valid and legally binding obligations of the Company enforceable in accordance with
their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors’ rights and to general
equity principles.

     If such form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner which is not reasonably acceptable to the Trustee.

     Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, including where the size of an
Outstanding series of Securities is increased as contemplated in Section 301, it shall not be
necessary to deliver the Officers’ Certificate otherwise
required pursuant to Section 301 or the Company Order and
Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the
authentication of each Security of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be issued.

     Each Security shall be dated the date of its authentication.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that such Security has been
duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall
have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 309, for
all purposes of this Indenture such Security shall be deemed never to have been authenticated and
delivered hereunder and shall never be entitled to the benefits of this Indenture.

     SECTION 304. Temporary Securities.

     Pending the preparation of definitive Securities of any series, the Company may execute, and
upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their execution of such
Securities.

     If temporary Securities of any series are issued, the Company will cause definitive Securities
of that series to be prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or
more definitive Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such
series and tenor.

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     SECTION 305. Registration; Registration of Transfer and Exchange.

     The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the register maintained in such office and in any other office or agency of the Company in a Place
of Payment being herein sometimes collectively referred to as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of transfers of Securities. The Trustee is hereby appointed
“Security Registrar” for the purpose of registering Securities and transfers of Securities as
herein provided.

     Upon surrender for registration of transfer of any Security of a series at the office or
agency of the Company in a Place of Payment for that series, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees,
one or more new Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount.

     At the option of the Holder, Securities of any series may be exchanged for other Securities of
the same series, of any authorized denominations and of like tenor and aggregate principal amount,
upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities
are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to receive.

     All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

     Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly
executed, by the Holder thereof or his attorney duly authorized in writing.

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer.

     If the Securities of any series (or of any series and specified tenor) are to be redeemed in
part, the Company shall not be required (A) to issue, register the transfer of or exchange any
Securities of that series (or of that series and specified tenor, as the case may be) during a
period beginning at the opening of business 15 days before the day of the mailing of a notice of
redemption of any such Securities selected for redemption under Section 1103 and ending at the
close of business on the day of such mailing, (B) to register the transfer of or exchange any
Security so selected for redemption in whole or in part, except the unredeemed portion of any
Security being redeemed in part, or (C) issue, register the transfer of or exchange any Security
that has been surrendered for repayment at the option of the Holder, except the portion, if any, of
the Security that is not to be repaid.

     The provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global Securities:

     (1) Each Global Security authenticated under this Indenture shall be registered in the name of
the Depositary designated for such Global Security or a nominee thereof and delivered to such
Depositary

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or a nominee thereof or custodian therefor, and each such Global Security shall constitute a
single Security for all purposes of this Indenture.

     (2) Notwithstanding any other provision in this Indenture, no Global Security may be exchanged
in whole or in part for Securities registered, and no transfer of a Global Security in whole or in
part may be registered, in the name of any Person other than the Depositary for such Global
Security or a nominee thereof unless (A) such Depositary (i) has notified the Company that it is
unwilling or unable to continue as Depositary for such Global Security and no successor Depositary
has been appointed within 90 days or (ii) has ceased to be a clearing agency registered under the
Exchange Act, (B) there shall have occurred and be continuing an Event of Default with respect to
such Global Security, (C) the Company, in its sole discretion, has determined that Securities of
any series issued in the form of one or more Global Securities shall no longer be represented by
such Global Security or Global Securities or (D) there shall exist such circumstances, if any, in
addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by
Section 301.

     (3) Subject to Clause (2) above, any exchange of a Global Security for other Securities may be
made in whole or in part, and all Securities issued in exchange for a Global Security or any
portion thereof shall be registered in such names as the Depositary for such Global Security shall
direct.

     (4) Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this
Section, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated and delivered in the
form of, and shall be, a Global Security, unless such Security is registered in the name of a
Person other than the Depositary for such Global Security or a nominee thereof.

     SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities.

     If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.

     If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any
such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding.

     In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

     Upon the issuance of any new Security under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

     Every new Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled

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to all the benefits of this Indenture equally and proportionately with any and all other
Securities of that series duly issued hereunder.

     The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

     SECTION 307. Payment of Interest; Interest Rights Preserved.

     Except as otherwise provided as contemplated by Section 301 with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid or duly provided for,
on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest.

     Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Securities of such series (or their respective Predecessor Securities) are registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest, which
shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Security of such series and the date of
the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of
money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the
proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days
and not less than 10 days prior to the date of the proposed payment and not less than 10 days after
the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
the Company of such Special Record Date and, in the name and at the expense of the Company, shall
cause notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be given to each Holder of Securities of such series in the manner set forth in Section
106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of
such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted
Interest shall be paid to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on such Special Record
Date and shall no longer be payable pursuant to the following Clause (2).

     (2) The Company may make payment of any Defaulted Interest on the Securities of any series in
any other lawful manner not inconsistent with the requirements of any securities exchange on which
such Securities may be listed, and upon such notice as may be required by such exchange, if, after
notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such
manner of payment shall be deemed practicable by the Trustee.

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture
upon registration of transfer of or in exchange for or in lieu of any other Security shall carry
the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security.

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     SECTION 308. Persons Deemed Owners.

     Prior to due presentment of a Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Section 307) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary.

     SECTION 309. Cancellation.

     All Securities surrendered for payment, redemption, conversion, registration of transfer or
exchange or for credit against any sinking fund payment or analogous obligation shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly
cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for
cancellation any Securities previously authenticated hereunder which the Company has not issued and
sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities
shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this
Section, except as expressly permitted by this Indenture. All cancelled Securities held by the
Trustee shall be disposed of as directed by a Company Order.

     SECTION 310. Computation of Interest.

     Except as otherwise specified as contemplated by Section 301 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a 360-day year of
twelve 30-day months.

     SECTION 311. CUSIP Numbers.

     The Company in issuing the Securities may use “CUSIP” numbers and, if so, the Trustee shall
use “CUSIP” numbers in notices of redemption as a
convenience to Holders; provided, however, that any
such notice may state that no representation is made as to the correctness of such numbers either
as printed on the Securities or as contained in any notice of a redemption and that reliance may be
placed only on the other identification numbers printed on the Securities, and any such redemption
shall not be affected by any defect in or omission of such numbers. The Company will promptly
notify the Trustee in writing of any change in the “CUSIP” numbers. Any such redemption shall not
be affected by any defect in or omission of such numbers.

ARTICLE FOUR

SATISFACTION AND DISCHARGE

     SECTION 401. Satisfaction and Discharge of Indenture.

     This Indenture shall upon Company Request cease to be of further effect with respect to
Securities of any series specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities herein expressly provided for in the terms of
such Security), and the Trustee, upon receipt of Company Request and at the expense of the Company,
shall

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execute proper instruments acknowledging satisfaction and discharge of this Indenture as to
such series, when

     (1) either

     (A) all Securities theretofore authenticated and delivered (other than (i) Securities
of such series which have been mutilated, destroyed, lost or stolen and which have been
replaced or paid as provided in Section 306 and (ii) Securities of such series for whose
payment money has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as provided in
Section 1003) have been delivered to the Trustee for cancellation; or

     (B) all Securities of such series not theretofore delivered to the Trustee for
cancellation

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within one year, or

     (iii) are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in
the name, and at the expense, of the Company, and the Company, in the case of (i),
(ii) or (iii) above, has deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose money in an amount sufficient to pay and
discharge the entire indebtedness on such Securities not theretofore delivered to
the Trustee for cancellation (other than Securities which have been mutilated,
destroyed, lost or stolen and which have been replaced or paid as provided in
Section 306), for principal and any premium and interest to the date of such deposit
(in the case of Securities which have become due and payable) or to the Stated
Maturity or Redemption Date, as the case may be;

     (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company
in respect of such Securities; and

     (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to such Securities have been complied
with.

     Notwithstanding the satisfaction and discharge of this Indenture, with respect to Securities
of any series pursuant to this Section 401, the obligations of the Company to the Trustee under
Section 607, the obligations of the Trustee to any Authenticating Agent under Section 614 and, if
money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this
Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003,
in each case with respect to such Securities, shall survive such satisfaction and discharge.

     SECTION 402. Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 1003, all money deposited with the
Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the
provisions of the Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine,
to the Persons

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entitled thereto, of the principal and any premium and interest for whose payment such money
has been deposited with the Trustee.

ARTICLE FIVE

REMEDIES

     SECTION 501. Events of Default.

     “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body):

     (1) default in the payment of any interest upon any Security of that series when it becomes
due and payable, and continuance of such default for a period of 30 days; or

     (2) default in the payment of the principal of or any premium on any Security, if any, of that
series at its Maturity; or

     (3) default in the deposit of any sinking fund payment, when and as due by the terms of a
Security of that series; or

     (4) default in the performance, or breach, of any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in whose performance or whose breach is
elsewhere in this Section specifically dealt with or which has expressly been included in this
Indenture solely for the benefit of series of Securities other than that series), and continuance
of such default or breach for a period of 30 days after there has been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of
not less than 25% in principal amount of the Outstanding Securities of that series a written notice
specifying such default or breach and requiring it to be remedied and stating that such notice is a
“Notice of Default” hereunder; or

     (5) a default under any bond, debenture, note or other evidence of indebtedness for money
borrowed by the Company or one of our Significant Subsidiaries (including a default with respect to
Securities of any series other than that series) having an aggregate principal amount outstanding
of in excess of $100,000,000, or under any mortgage, indenture or instrument (including this
Indenture) under which there may be issued or by which there may be secured or evidenced any
indebtedness for money borrowed by the Company or one of our Significant Subsidiaries having an
aggregate principal amount outstanding of in excess of $100,000,000, whether such indebtedness now
exists or shall hereafter be created, which default (A) shall constitute a failure to pay any
portion of the principal of such indebtedness when due and payable after the expiration of any
applicable grace period with respect thereto or (B) shall have resulted in such indebtedness
becoming or being declared due and payable prior to the date on which it would otherwise have
become due and payable, without, in the case of Clause (A), such indebtedness having been
discharged or without, in the case of Clause (B), such indebtedness having been discharged or such
acceleration having been rescinded or annulled, in each such case within a period of 30 days after
there shall have been given, by registered or certified mail, to the Company by the Trustee or to
the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
Securities of that series a written notice specifying such default and requiring the Company to
cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled, as
the case may be, and stating that such notice is a “Notice of Default” hereunder; provided,
however, that,

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subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have
knowledge of such default unless either (A) a Responsible Officer of the Trustee shall have actual
knowledge of such default or (B) the Trustee shall have received written notice thereof from the
Company, from any Holder, from the holder of any such indebtedness or from the trustee under any
such mortgage, indenture or other instrument; or

     (6) the entry by a court having jurisdiction in the premises of (A) a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any applicable Federal
or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order
adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under any
applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee,
trustee, sequestrator or other similar official of the Company or of any substantial part of its
property, or ordering the winding up or liquidation of its affairs, and the continuance of any such
decree or order for relief or any such other decree or order unstayed and in effect for a period of
60 consecutive days; or

     (7) the commencement by the Company of a voluntary case or proceeding under any applicable
Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case
or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a
decree or order for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of
a petition or answer or consent seeking reorganization or relief under any applicable Federal or
State law, or the consent by it to the filing of such petition or to the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability to pay
its debts generally as they become due, or the taking of corporate action by the Company in
furtherance of any such action; or

     (8) any other Event of Default provided with respect to Securities of that series.

     SECTION 502. Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default (other than an Event of Default specified in Section 501(6) or 501(7))
with respect to Securities of any series at the time Outstanding occurs and is continuing, then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of that series may declare the principal amount of all the Securities of
that series (or, if any Securities of that series are Original Issue Discount Securities, such
portion of the principal amount of such Securities as may be specified by the terms thereof) to be
due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by
Holders), and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable. If an Event of Default specified in Section 501(6) or 501 (7) with
respect to Securities of any series at the time Outstanding occurs, the principal amount of all the
Securities of that series (or, if any Securities of that series are Original Issue Discount
Securities, such portion of the principal amount of such Securities as may be specified by the
terms thereof) shall automatically, and without any declaration or other action on the part of the
Trustee or any Holder, become immediately due and payable.

     At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of
the

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Outstanding Securities of that series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if:

     (1) the Company has paid or deposited with the Trustee a sum sufficient to pay

     (A) all overdue interest on all Securities of that series,

     (B) the principal of (and premium, if any, on) any Securities of that series which have
become due otherwise than by such declaration of acceleration and any interest thereon at
the rate or rates prescribed therefor in such Securities,

     (C) to the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates prescribed therefor in such Securities, and

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel;

     and

     (2) all Events of Default with respect to Securities of that series, other than the
non-payment of the principal of Securities of that series which have become due solely by such
declaration of acceleration, have been cured or waived as provided in Section 513.

     No such rescission shall affect any subsequent default or impair any right consequent thereon.

     SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Company covenants that if:

     (1) default is made in the payment of any interest on any Security when such interest becomes
due and payable and such default continues for a period of 30 days;

     (2) default is made in the payment of the principal of (or premium, if any, on) any Security
at the Maturity thereof; or

     (3) default is made in the making or satisfaction of any sinking fund payment or analogous
obligation when the same becomes due pursuant to the terms of such Security,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal, and any premium
interest, and sinking fund obligation and, to the extent that payment of such interest shall be
legally enforceable, interest on any overdue principal, premium or sinking fund obligation and on
any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel.

     If an Event of Default with respect to Securities of any series occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem necessary to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in

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this Indenture or in aid of the exercise of any power granted herein, or to enforce any other
proper remedy.

     SECTION 504. Trustee May File Proofs of Claim.

     In case of any judicial proceeding relative to the Company (or any other obligor upon the
Securities), its property or its creditors, the Trustee shall be entitled and empowered, by
intervention in such proceeding or otherwise, to take any and all actions authorized under the
Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or
other property payable or deliverable on any such claims and to distribute the same; and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee
and, in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 607.

     No provision of this Indenture shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding;
provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official and be a member of a creditors’ or other similar
committee.

     SECTION 505. Trustee May Enforce Claims Without Possession of Securities.

     All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto. Any such proceeding instituted by the Trustee shall be brought
in its own name as trustee of an express trust. Any recovery of judgment shall, after provision
for the payment of the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.

     SECTION 506. Application of Money Collected.

     Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal or any premium or interest, upon presentation of the Securities and the
notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee under Section 607;

     SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and
interest on the Securities in respect of which or for the benefit of which such money has been
collected, ratably, without preference or priority of any kind, according to the amounts due and
payable on such Securities for principal and any premium and interest, respectively; and

     THIRD: To the Company.

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     SECTION 507. Limitation on Suits.

     No Holder of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or
trustee, or for any other remedy hereunder, unless

     (1) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that series;

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that
series shall have made written request to the Trustee to institute proceedings in respect of such
Event of Default in its own name as Trustee hereunder;

     (3) such
Holder or Holders have offered to the Trustee  indemnity reasonably
satisfactory to it against the costs,
expenses and liabilities to be incurred in compliance with such request;

     (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity
has failed to institute any such proceeding; and

     (5) no direction inconsistent with such written request has been given to the Trustee during
such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities
of that series;

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such Holders.

     SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest.

     Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and any
premium and (subject to Section 307) interest on such Security on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute
suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder.

     SECTION 509. Restoration of Rights and Remedies.

     If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

     SECTION 510. Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy
herein conferred upon or

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reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

     SECTION 511. Delay or Omission Not Waiver.

     No delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein.

     Every right and remedy given by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the
Holders, as the case may be.

     SECTION 512. Control by Holders.

     The Holders of a majority in principal amount of the Outstanding Securities of any series
shall have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such series, provided that

     (1) such direction shall not be in conflict with any rule of law or with this Indenture, and

     (2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

     SECTION 513. Waiver of Past Defaults.

     The Holders of not less than a majority in principal amount of the Outstanding Securities of
any series may on behalf of the Holders of all the Securities of such series waive any past default
hereunder with respect to such series and its consequences, except a default:

     (1) in the payment of the principal of or any premium or interest on any Security of such
series, or

     (2) in respect of a covenant or provision hereof which under Article Nine cannot be modified
or amended without the consent of the Holder of each Outstanding Security of such series affected.

     Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon.

     SECTION 514. Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require
any party litigant in such suit to file an undertaking to pay the costs of such suit, and may
assess costs against any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act; provided that

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neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to
require such an undertaking or to make such an assessment in any suit instituted by the Company or
the Trustee.

     SECTION 515. Waiver of Usury, Stay or Extension Laws.

     The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any
usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture; and the Company (to the extent that it
may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants
that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been
enacted.

ARTICLE SIX

THE TRUSTEE

     SECTION 601. Certain Duties and Responsibilities.

(a) Except during the continuance of an Event of Default,

(1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or obligations
shall be read into this Indenture against the Trustee; and

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming to
the requirements of this Indenture; but in the case of any such certificates or
opinions which by any provision hereof are specifically required to be furnished to
the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture.

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture, and use the same
degree of care and skill in their exercise, as a prudent person would exercise or use under
the circumstances in the conduct of his or her own affairs.

     (c) No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

(1) this Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;

(2) the Trustee shall not be liable for any error of judgment made in good faith by
a Responsible Officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts;

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(3) the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders of a
majority in principal amount of the Outstanding Securities of any series relating to
the time, method and place of conducting any proceeding for any remedy available to
the Trustee, or exercising any trust or power conferred upon the Trustee, under this
Indenture with respect to the Securities of such series; and

(4) no provision of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if it shall
have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

     (d) Whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section.

     SECTION 602. Notice of Defaults.

     If a default occurs hereunder with respect to Securities of any series, the Trustee shall give
the Holders of Securities of such series notice of such default as and to the extent provided by
the Trust Indenture Act; provided, however, that in the case of any default of the character
specified in Section 501(4) with respect to Securities of such series, no such notice to Holders
shall be given until the expiration of the 30 day period as provided therein. For the purpose of
this Section, the term “default” means any event which is, or after notice or lapse of time or both
would become, an Event of Default with respect to Securities of such series.

     SECTION 603. Certain Rights of Trustee.

     Subject to the provisions of Section 601:

     (1) the Trustee may conclusively rely and shall be protected in acting or refraining from
acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or
parties;

     (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or Company Order, and any resolution of the Board of Directors shall be
sufficiently evidenced by a Board Resolution;

     (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith
on its part, conclusively rely upon an Officers’ Certificate;

     (4) the Trustee may consult with counsel of its selection and the advice of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

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     (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture,
unless such Holders shall have offered to the Trustee security or
indemnity  reasonably satisfactory to the Trustee against the
costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction;

     (6) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Company,
personally or by agent or attorney, at the sole cost of the Company, and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation;

     (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder;

     (8) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by
it in good faith and reasonably believed by it to be authorized or within the discretion or rights
or powers conferred upon it by this Indenture;

     (9) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder;

     (10) the Trustee may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture; and

     (11) the
Trustee shall not be deemed to have notice of any Default or Event of
Default unless the Trustee has knowledge thereof.

     SECTION 604. Not Responsible for Recitals or Issuance of Securities.

     The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

     SECTION 605. May Hold Securities.

     The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other
agent of the Company, in its individual or any other capacity, may become the owner or pledgee of
Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar
or such other agent.

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     SECTION 606. Money Held in Trust.

     Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed in writing with the Company.

     SECTION 607. Compensation and Reimbursement.

     The Company agrees

     (1) to pay to the Trustee from time to time such reasonable compensation as the Company and
the Trustee shall from time to time agree in writing for all services rendered by it hereunder
(which compensation shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust);

     (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request
for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any provision of this Indenture (including the reasonable compensation and the
expenses and disbursements of its agents and counsel), except any such expense, disbursement or
advance as shall  be determined to have been caused by its negligence or willful misconduct; and

     (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability, claim,
damage or expense incurred without negligence or willful misconduct on its part, arising out of or
in connection with the acceptance or administration of the trust or trusts hereunder, including the
costs and expenses of defending itself against any claim or liability in connection with the
exercise or performance of any of its powers or duties hereunder.

     When the Trustee incurs expenses or renders services in connection with an Event of Default,
the expenses (including the reasonable charges and expenses of its counsel) and the compensation
for the services are intended to constitute expenses of administration under any applicable Federal
or state bankruptcy, insolvency or other similar law.

     The provisions of this Section shall survive the termination of this Indenture.

     SECTION 608. Conflicting Interests.

     If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust
Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the
manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.
To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting interest
by virtue of being a trustee under this Indenture with respect to Securities of more than one
series.

     SECTION 609. Corporate Trustee Required; Eligibility.

     There shall at all times be one (and only one) Trustee hereunder with respect to the
Securities of each series, which may be Trustee hereunder for Securities of one or more other
series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act
as such, and has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust
Office or agency in the Borough of

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Manhattan, The City of New York. If any such Person publishes reports of condition at least
annually, pursuant to law or to the requirements of its supervising or examining authority, then
for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the
combined capital and surplus of such Person shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. If at any time the Trustee with
respect to the Securities of any series shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     SECTION 610. Resignation and Removal; Appointment of Successor.

     No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to
this Article shall become effective until the acceptance of appointment by the successor Trustee in
accordance with the applicable requirements of Section 611.

     The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company.

     The Trustee may be removed at any time with respect to the Securities of any series by Act of
the Holders of a majority in principal amount of the Outstanding Securities of such series,
delivered to the Trustee and to the Company.

     If the instrument of acceptance by a successor Trustee required by Section 611 shall not have
been delivered to the Trustee within 30 days after the giving of such notice of resignation or
removal, the resigning or removed Trustee may petition, in the case of removal, at the expense of
the Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

     If at any time:

     (1) the Trustee shall fail to comply with Section 608 after written request therefor by the
Company or by any Holder who has been a bona fide Holder of a Security for at least six months;

     (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after
written request therefor by the Company or by any such Holder; or

     (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent
or a receiver of the Trustee or of its property shall be appointed or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation;

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect
to all Securities or the Securities of any series, or (B) subject to Section 514, any Holder who
has been a bona fide Holder of a Security of any series for at least six months may, on behalf of
himself and all others similarly situated, petition any court of competent jurisdiction for the
removal of the Trustee with respect to all Securities of such series and the appointment of a
successor Trustee or Trustees with respect thereto.

     If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of Trustee for any cause, with respect to the Securities of one or more series,
the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with
respect to the

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Securities of that or those series (it being understood that any such successor Trustee may be
appointed with respect to the Securities of one or more or all of such series and that at any time
there shall be only one Trustee with respect to the Securities of any particular series) and shall
comply with the applicable requirements of Section 611. If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the
Securities of any series shall be appointed by Act of the Holders of a majority in principal amount
of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the
successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in
accordance with the applicable requirements of Section 611, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the Securities of any series
shall have been so appointed by the Company or the Holders and accepted appointment in the manner
required by Section 611, any Holder who has been a bona fide Holder of a Security of such series
for at least six months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

     The Company shall give notice of each resignation and each removal of the Trustee with respect
to the Securities of any series and each appointment of a successor Trustee with respect to the
Securities of any series to all Holders of Securities of such series in the manner provided in
Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

     SECTION 611. Acceptance of Appointment by Successor.

     In case of the appointment hereunder of a successor Trustee with respect to all Securities,
every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring
Trustee shall, upon payment of its charges (including reasonable attorneys’ fees and expenses)
hereunder, execute and deliver an instrument transferring to such successor Trustee all the rights,
powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder.

     In case of the appointment hereunder of a successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with
respect to the Securities of one or more series shall execute and deliver an indenture supplemental
hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each
successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities of that or those series to which the appointment of such successor Trustee relates,
(2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee, it being
understood that nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by any other such
Trustee; and upon the

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execution and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates; but, on request of the Company
or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder with respect to
the Securities of that or those series to which the appointment of such successor Trustee relates.

     Upon request of any such successor Trustee, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor Trustee all such rights,
powers and trusts referred to in the first or second preceding paragraph, as the case may be.

     No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article.

     SECTION 612. Merger, Conversion, Consolidation or Succession to Business.

     Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or substantially all the
corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided
such corporation shall be otherwise qualified and eligible under this Article, without the
execution or filing of any paper or any further act on the part of any of the parties hereto. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities.

     SECTION 613. Preferential Collection of Claims Against Company.

     If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor).

     SECTION 614. Appointment of Authenticating Agent.

     The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series
of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities
of such series issued upon original issue and upon exchange, registration of transfer or partial
redemption thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee’s certificate of
authentication, such reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Company and shall at all times be a corporation organized and doing business under the laws of the
United States of America, any State thereof or the District of Columbia, authorized under such laws
to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000
and subject to supervision or examination by Federal or State authority. If such Authenticating
Agent publishes reports of condition at least annually, pursuant to law or to the

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requirements of said supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If
at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, such Authenticating Agent shall resign immediately in the manner and with the effect
specified in this Section.

     Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section,
without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.

     An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give
notice of such appointment in the manner provided in Section 106 to all Holders of Securities of
the series with respect to which such Authenticating Agent will serve. Any successor Authenticating
Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers
and duties of its predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under
the provisions of this Section.

     The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section.

     If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternative certificate of authentication in the following form:

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	 	 

	, 
	 	
As Trustee

 	 
	 	By  	
 	 
	 	 	As Authenticating Agent 	 
	 	 	 
	 	By  	
 	 
	 	 	Authorized Officer 	 
	 	 	 	 

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ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

     SECTION 701. Company to Furnish Trustee Names and Addresses of Holders.

     The Company will furnish or cause to be furnished to the Trustee

     (1) semi-annually, not later than 15 days after each Regular Record Date relating to
Securities of each series then outstanding (or, if there is no Regular Record Date, January 15 and
July 15) in each year, a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Securities of each series as of the preceding                      or                     , as the case may
be, and

     (2) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its capacity as
Security Registrar.

     SECTION 702. Preservation of Information; Communications to Holders.

     The Trustee shall preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 701 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701
upon receipt of a new list so furnished.

     The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee,
shall be as provided by the Trust Indenture Act.

     Every Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

     SECTION 703. Reports by Trustee.

     The Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the
manner provided pursuant thereto.

     Reports so required to be transmitted at stated intervals of not more than 12 months shall be
transmitted no later than January 31 in each calendar year, commencing in 2011.

     A copy of each such report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange upon which any Securities are listed, with the Commission and with
the Company. The Company will notify the Trustee when any Securities are listed or delisted on any
stock exchange.

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     SECTION 704. Reports by Company.

     The Company shall file with the Trustee and the Commission, and transmit to Holders, such
information, documents and other reports, and such summaries thereof, only as and to the extent
required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to
such Act. For the purposes of this Section 704, the Company makes no representation, warranty, covenant or agreement to the Holders of
any series of Securities as to the accuracy or completeness of any such document or report or as to
the timeliness of any such filing with the Commission.

     Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officers’ Certificates).

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

     SECTION 801. Company May Consolidate, Etc., Only on Certain Terms.

     The Company shall not consolidate with or merge into any other Person or convey, transfer or
lease its properties and assets substantially as an entirety to any Person, unless:

     (1) in case the Company shall consolidate with or merge into another Person or convey,
transfer or lease its properties and assets substantially as an entirety to any Person, the Person
formed by such consolidation or into which the Company is merged or the Person which acquires by
conveyance or transfer, or which leases, the properties and assets of the Company substantially as
an entirety shall be a corporation, partnership or other entity, shall be organized and validly
existing under the laws of the United States of America, any State thereof or the District of
Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of
and any premium and interest on all the Securities and the performance or observance of every
covenant of this Indenture on the part of the Company to be performed or observed;

     (2) immediately after giving effect to such transaction and treating any indebtedness which
becomes an obligation of the Company or any Subsidiary as a result of such transaction as having
been incurred by the Company or such Subsidiary at the time of such transaction, no Event of
Default, and no event which, after notice or lapse of time or both, would become an Event of
Default, shall have happened and be continuing;

     (3) if, as a result of any such consolidation or merger or such conveyance, transfer or lease,
properties or assets of the Company would become subject to a mortgage, pledge, lien, security
interest or other encumbrance which would not be permitted by this Indenture, the Company or such
successor Person, as the case may be, shall take such steps as shall be necessary effectively to
secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and

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     (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a
supplemental indenture is required in connection with such transaction, such supplemental indenture
comply with this Article and that all conditions precedent herein provided for relating to such
transaction have been complied with.

     SECTION 802. Successor Substituted.

     Upon any consolidation of the Company with, or merger of the Company into, any other Person or
any conveyance, transfer or lease of the properties and assets of the Company substantially as an
entirety in accordance with Section 801, the successor Person formed by such consolidation or into
which the Company is merged or to which such conveyance, transfer or lease is made shall succeed
to, and be substituted for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor Person had been named as the Company herein,
and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all
obligations and covenants under this Indenture and the Securities.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

     SECTION 901. Supplemental Indentures Without Consent of Holders.

     Without the consent of any Holders, the Company, when authorized by a Board Resolution, and
the Trustee, at any time and from time to time, may enter into one or more indentures supplemental
hereto, in form satisfactory to the Trustee, for any of the following purposes:

     (1) to evidence the succession of another Person to the Company and the assumption by any such
successor of the covenants of the Company herein and in the Securities;

     (2) to add to the covenants of the Company for the benefit of the Holders of all or any series
of Securities (and if such covenants are to be for the benefit of less than all series of
Securities, stating that such covenants are expressly being included solely for the benefit of such
series) or to surrender any right or power herein conferred upon the Company;

     (3) to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such additional Events of Default are to be for the benefit of less
than all series of Securities, stating that such additional Events of Default are expressly being
included solely for the benefit of such series);

     (4) to add to or change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not
registrable as to principal, and with or without interest coupons, or to permit or facilitate the
issuance of Securities in uncertificated form;

     (5) to add to, change or eliminate any of the provisions of this Indenture in respect of one
or more series of Securities, provided that any such addition, change or elimination (A) shall
neither (i) apply to any Security of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of
any such Security with respect to such provision or (B) shall become effective only when there is
no such Security Outstanding;

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     (6) to add any guarantees of all or any series of Securities;

     (7) to secure all or any series of the Securities (and if such additional security is to be
for the benefit of less than all series of Securities, stating that such additional security is
expressly being included solely for the benefit of such series);

     (8) to establish the form or terms of Securities of any series as permitted by Sections 201
and 301;

     (9) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee
with respect to the Securities of one or more series and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611;

     (10) to add to, change or eliminate any of the provisions of this Indenture to such extent as
shall be necessary to comply with the rules or regulations on any securities exchange or automated
quotation system on which any of the Securities may be listed or traded;

     (11) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, to eliminate any conflict between the
terms hereof and the Trust Indenture Act or to make any other provisions with respect to matters or
questions arising under this Indenture, provided that such action pursuant to this clause (10)
shall not adversely affect the interests of the Holders of Securities of any series in any material
respect; or

     (12) to supplement any of the provisions of the Indenture to such extent as shall be necessary
to permit or facilitate the satisfaction and discharge or defeasance or covenant defeasance of any
series of Securities pursuant to Articles Four and Thirteen, respectively; provided that any such
action shall not adversely affect the interests of the Holders of such series or any other series
of Securities in any material respect.

     SECTION 902. Supplemental Indentures with Consent of Holders.

     With the consent of the Holders of not less than a majority in aggregate principal amount of
the Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Trustee, the Company, when authorized by a Board
Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental indenture shall, without
the consent of the Holder of each Outstanding Security affected thereby:

     (1) change the Stated Maturity of the principal of, or any installments of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon
or any premium payable upon the redemption thereof, or reduce the amount of the principal of an
Original Issue Discount Security or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502, or adversely affect
any right of repayment at the option of the Holder of any Security, or reduce the amount of, or
postpone the date fixed for, the payment of any sinking fund payment or analogous obligation, or
change any Place of Payment where, or the coin or currency in which, any Security or any premium or
interest thereon is payable, or impair the

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right to institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof (or, in the case of redemption, on or after the Redemption Date);

     (2) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver (of compliance with certain provisions of this Indenture or
certain defaults hereunder and their consequences) provided for in this Indenture; or

     (3) modify any of the provisions of this Section, Section 513 or Section 1005, except to
increase any such percentage or to provide that certain other provisions of this Indenture cannot
be modified or waived without the consent of the Holder of each Outstanding Security affected
thereby; provided, however, that this clause shall not be deemed to require the consent of any
Holder with respect to changes in the references to “the Trustee” and concomitant changes in this
Section and Section 1005, or the deletion of this proviso, in accordance with the requirements of
Sections 611 and 901(8).

     A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

     It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof.

     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to consent to any indenture supplemental hereto. If a record date
is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons,
shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date.

     SECTION 903. Execution of Supplemental Indentures.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall receive, and (subject to Section 601) shall be fully protected in relying upon, an
Opinion of Counsel and Officers’ Certificate stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated
to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or
immunities under this Indenture, but the Trustee shall, subject to the first sentence of this
Section 903, enter into all other supplemental indentures requested by the Company.

     SECTION 904. Effect of Supplemental Indentures.

     Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated
and delivered hereunder shall be bound thereby.

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     SECTION 905. Conformity with Trust Indenture Act.

     Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act.

     SECTION 906. Reference in Securities to Supplemental Indentures.

     Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

ARTICLE TEN

COVENANTS

     SECTION 1001. Payment of Principal, Premium and Interest.

     The Company covenants and agrees for the benefit of each series of Securities that it will
duly and punctually pay the principal of and premium, if any, and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture.

     SECTION 1002. Maintenance of Office or Agency.

     The Company will maintain in each Place of Payment for any series of Securities an office or
agency where Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or exchange and where
notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served. The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent
to receive all such presentations, surrenders, notices and demands.

     The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company will
give prompt written notice to the Trustee of any such designation or rescission and of any change
in the location of any such other office or agency.

     SECTION 1003. Money for Securities Payments to Be Held in Trust.

     If the Company shall at any time act as its own Paying Agent with respect to any series of
Securities, it will, on or before each due date of the principal of or any premium or interest on
any of the Securities of that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due
until such sums shall be

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paid to such Persons or otherwise disposed of as herein provided and will promptly notify the
Trustee of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, prior to each due date of the principal of or any premium or interest on any Securities of
that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held
as provided by the Trust Indenture Act and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act.

     The Company will cause each Paying Agent for any series of Securities other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the
provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the
continuance of any default by the Company (or any other obligor upon the Securities of that series)
in the making of any payment in respect of the Securities of that series, upon the written request
of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for
payment in respect of the Securities of that series.

     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or any premium or interest on any Security of any series
and remaining unclaimed for two years after such principal, premium or interest has become due and
payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before
being required to make any such repayment, may at the expense of the Company cause to be published
once, in a newspaper published in the English language, customarily published on each Business Day
and of general circulation in the Borough of Manhattan, The City of New York, notice that such
money remains unclaimed and that, after a date specified therein, which shall not be less than 30
days from the date of such publication, any unclaimed balance of such money then remaining will be
repaid to the Company.

     SECTION 1004. Statement by Officers as to Default.

     The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company ending after the date hereof, an Officers’ Certificate, stating that a review of the
activities of the Company during such year and of performance under this Indenture has been made
under their supervision and whether or not to the best knowledge and based on such review of the
signers thereof the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of grace or requirement
of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults
and the nature and status thereof of which they may have knowledge.

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     SECTION 1005. Waiver of Certain Covenants.

     Except as otherwise specified as contemplated by Section 301 for Securities of such series,
the Company may, with respect to the Securities of any series, omit in any particular instance to
comply with any term, provision or condition set forth in any covenant provided pursuant to Section
301(18), 901(2) or 901(7) for the benefit of the Holders of such series if before the time for such
compliance the Holders of not less than a majority in principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such compliance in such
instance or generally waive compliance with such term, provision or condition, but no such waiver
shall extend to or affect such term, provision or condition except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall remain in full
force and effect.

     SECTION 1006. Existence.

     Subject to Article Eight, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its existence.

     SECTION 1007. Limitation on Liens on Voting Stock of Significant Subsidiaries

     Solely for the benefits of each series of the Securities, so long as any series of the
Securities are Outstanding, the Company will not and will not permit any Significant Subsidiary to,
directly or indirectly, create, issue, assume, incur or guarantee any indebtedness for money
borrowed which is secured by a mortgage, pledge, lien,
security interest or other encumbrance of any nature on any of the present or future Voting Stock
of a Significant Subsidiary unless any series of the Securities and, if the Company so elects, any
other indebtedness of the Company ranking at least pari passu with each series of the Securities,
shall be secured equally and ratably with (or prior to) such other secured indebtedness for money
borrowed so long as it is outstanding.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

     SECTION 1101. Applicability of Article.

     Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301
for such Securities) in accordance with this Article.

     SECTION 1102. Election to Redeem; Notice to Trustee.

     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution
or in another manner specified as contemplated by Section 301 for such Securities. In case of any
redemption at the election of the Company of less than all the Securities of any series (including
any such redemption affecting only a single Security), the Company shall, at least 60 days prior to
the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such
series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the
case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or

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elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’
Certificate evidencing compliance with such restriction.

     SECTION 1103. Selection by Trustee of Securities to Be Redeemed.

     If less than all the Securities of any series are to be redeemed (unless all the Securities of
such series and of a specified tenor are to be redeemed or unless such redemption affects only a
single Security), the particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not
previously called for redemption, by pro rata, by lot or by such method as in accordance with the
regulations of the Depositary, if any, and which may provide for the selection for redemption of a
portion of the principal amount of any Security of such series, provided that the unredeemed
portion of the principal amount of any Security shall be in an authorized denomination (which shall
not be less than the minimum authorized denomination) for such Security. If less than all the
Securities of such series and of a specified tenor are to be redeemed (unless such redemption
affects only a single Security), the particular Securities to be redeemed shall be selected not
more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series and specified tenor not previously called for redemption in accordance with the
preceding sentence.

     The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption as aforesaid and, in case of any Securities selected for partial redemption as
aforesaid, the principal amount thereof to be redeemed.

     The provisions of the two preceding paragraphs shall not apply with respect to any redemption
affecting a series of Securities comprised of only a single Security, whether such Security is to
be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion
of the principal amount of the Security shall be in an authorized denomination (which shall not be
less than the minimum authorized denomination) for such Security.

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

     SECTION 1104. Notice of Redemption.

     Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than
30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed,
at his address appearing in the Security Register.

     All notices of redemption shall state:

     (1) the Redemption Date;

     (2) the Redemption Price;

     (3) if less than all the Outstanding Securities of any series consisting of more than a single
Security are to be redeemed, the identification (and, in the case of partial redemption of any such
Securities, the principal amounts) of the particular Securities to be redeemed and, if less than
all the entire principal amount of any series consisting of a single Security are to be redeemed,
the portion of the principal amount of the particular Security to be redeemed;

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     (4) that on the Redemption Date the Redemption Price will become due and payable upon each
such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and
after said date;

     (5) the CUSIP numbers, if any, of the Securities to be redeemed;

     (6) the place or places where each such Security is to be surrendered for payment of the
Redemption Price; and

     (7) that the redemption is for a sinking fund, if such is the case.

     Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request and upon provision to the Trustee of such notice
information, by the Trustee in the name and at the expense of the Company and, unless otherwise
specified, shall be irrevocable; provided, however, in the latter case the Trustee shall be
given at least 10 days prior notice of the requested date of the giving of the notice or such
shorter time as may be acceptable to the Trustee.

     SECTION 1105. Deposit of Redemption Price.

     Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except
if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.

     SECTION 1106. Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from
and after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security
for redemption in accordance with said notice, such Security shall be paid by the Company at the
Redemption Price, together with accrued interest to the Redemption Date; provided, however, that,
unless otherwise specified as contemplated by Section 301, installments of interest whose Stated
Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 307.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date
at the rate prescribed therefor in the Security.

     SECTION 1107. Securities Redeemed in Part.

     Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the
Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new
Security or Securities of the

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same series and of like tenor, of any authorized denomination as requested by such Holder, in
aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered.

ARTICLE TWELVE

SINKING FUNDS

     SECTION 1201. Applicability of Article.

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of any series except as otherwise specified as contemplated by Section 301 for such
Securities.

     The minimum amount of any sinking fund payment provided for by the terms of any Securities is
herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum
amount provided for by the terms of such Securities is herein referred to as an “optional sinking
fund payment”. If provided for by the terms of Securities of any series, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund
payment shall be applied to the redemption of Securities of a series as provided for by the terms
of such Securities.

     SECTION 1202. Satisfaction of Sinking Fund Payments with Securities.

     The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (2) may apply as a credit Securities of a series which have been
redeemed either at the election of the Company pursuant to the terms of such Securities or which
have otherwise been acquired by the Company or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all
or any part of any sinking fund payment with respect to any Securities of such series required to
be made pursuant to the terms of such Securities as and to the extent provided for by the terms of
such Securities; provided that the Securities to be so credited have not been previously so
credited. The Securities to be so credited shall be received and credited for such purpose by the
Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly.

     SECTION 1203. Redemption of Securities for Sinking Fund.

     Not less than 60 days prior to each sinking fund payment date for Securities of any series,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and
will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days prior to
each such sinking fund payment date, the Trustee shall select the Securities of such series to be
redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause
notice of the redemption thereof to be given in the name of and at the expense of the Company in
the manner provided in Section 1104. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

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ARTICLE THIRTEEN

DEFEASANCE AND COVENANT DEFEASANCE

     SECTION 1301. Company’s Option to Effect Defeasance or Covenant Defeasance.

     The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied
to any Securities or any series of Securities, as the case may be, designated pursuant to Section
301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable
requirements provided pursuant to Section 301 and upon compliance with the conditions set forth
below in this Article. Any such election shall be evidenced by a Board Resolution or in another
manner specified as contemplated by Section 301 for such Securities.

     SECTION 1302. Defeasance and Discharge.

     Upon the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, the Company shall be deemed to have
been discharged from its obligations with respect to such Securities as provided in this Section on
and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called
“Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by such Securities and to have satisfied
all its other obligations under such Securities and this Indenture insofar as such Securities are
concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), subject to the following which shall survive until otherwise terminated or
discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the
trust fund described in Section 1304 and as more fully set forth in such Section, payments in
respect of the principal of and any premium and interest on such Securities when payments are due,
(2) the Company’s obligations with respect to such Securities under Sections 304, 305, 306, 1002
and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4)
this Article. Subject to compliance with this Article, the Company may exercise its option (if any)
to have this Section applied to any Securities notwithstanding the prior exercise of its option (if
any) to have Section 1303 applied to such Securities.

     SECTION 1303. Covenant Defeasance.

     Upon the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, (1) the Company shall be released from
its obligations under Section 801(3) and any covenants provided pursuant to Section 301(18), 901(2)
or 901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event
specified in Sections 501(4) (with respect to any of Section 801(3) and any such covenants provided
pursuant to Section 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be deemed not to be or
result in an Event of Default, in each case with respect to such Securities as provided in this
Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter
called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect
to such Securities, the Company may omit to comply with and shall have no liability in respect of
any term, condition or limitation set forth in any such specified Section (to the extent so
specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference
elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and such Securities
shall be unaffected thereby.

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     SECTION 1304. Conditions to Defeasance or Covenant Defeasance.

     The following shall be the conditions to the application of Section 1302 or Section 1303 to
any Securities or any series of Securities, as the case may be:

     (1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee
(or another trustee which satisfies the requirements contemplated by Section 609 and agrees to
comply with the provisions of this Indenture applicable to it as if it were the Trustee hereunder)
as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) in the
case of Securities of a series denominated in a foreign currency, money in such foreign currency or
Foreign Government Obligations of the foreign government or governments issuing such foreign
currency which through the scheduled payment of principal and interest in respect thereof in
accordance with their terms will provide, not later than one day before the due date of any
payment, such foreign currency in an amount or (B) in the case of Securities denominated in U.S.
dollars, U.S. dollars or U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not later
than one day before the due date of any payment, U.S. dollars in an amount, or (C) a combination of
money and U.S. Government Obligations or Foreign Government Obligations (as applicable), in each
case sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and
which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge,
the principal of and any premium and interest on such Securities on the respective Stated
Maturities, in accordance with the terms of this Indenture and such Securities. As used herein,
“U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United
States of America for the payment of which the full faith and credit of the United States of
America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an
agency or instrumentality of the United States of America the payment of which is unconditionally
guaranteed as a full faith and credit obligation by the United States of America, which, in either
case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any
depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as
custodian with respect to any U.S. Government Obligation which is specified in Clause (x) above and
held by such bank for the account of the holder of such depositary receipt, or with respect to any
specific payment of principal of or interest on any U.S. Government Obligation which is so
specified and held, provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the U.S. Government Obligation or the specific payment of
principal or interest evidenced by such depositary receipt. As used herein, “Foreign Government
Obligation” means any security denominated in a foreign currency which is (i) a direct obligation
of a foreign government or governments for the payment of which the full faith and credit of such
foreign government or governments is pledged or (ii) an obligation of a Person controlled or
supervised by and acting as an agency or instrumentality of such foreign government or governments
the payment of which is unconditionally guaranteed as a full faith and credit obligation by such
foreign government, which, in either case (i) or (ii) is not callable or redeemable at the option
of the issuer thereof.

     (2) In the event of an election to have Section 1302 apply to any Securities or any series of
Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of
Counsel stating that (x) the Company has received from, or there has been published by, the
Internal Revenue Service a ruling or (y) since the date of this instrument, there has been a change
in the applicable Federal income tax law, in either case (x) or (y) to the effect that, and based
thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or
loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be
effected with respect to such Securities and will be

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subject to Federal income tax on the same amount, in the same manner and at the same times as
would be the case if such deposit, Defeasance and discharge were not to occur.

     (3) In the event of an election to have Section 1303 apply to any Securities or any series of
Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that the Holders of such Securities will not recognize gain or loss for
Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with
respect to such Securities and will be subject to Federal income tax on the same amount, in the
same manner and at the same times as would be the case if such deposit and Covenant Defeasance were
not to occur.

     (4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect
that neither such Securities nor any other Securities of the same series, if then listed on any
securities exchange, will be delisted as a result of such deposit.

     (5) No event which is, or after notice or lapse of time or both would become, an Event of
Default with respect to such Securities or any other Securities shall have occurred and be
continuing at the time of such deposit or, with regard to any such event specified in Sections
501(6) and (7), at any time on or prior to the 90th day after the date of such deposit or, if
longer, ending on the day following the expiration of the longest preference period applicable to
the Company under Federal or State law in respect of such deposit (it being understood that this
condition shall not be deemed satisfied until after the expiration of such period).

     (6) Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting
interest within the meaning of the Trust Indenture Act (assuming all Securities are in default
within the meaning of such Act).

     (7) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under, any other agreement or instrument to which the Company is a party or by
which it is bound.

     (8) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such
deposit constituting an investment company within the meaning of the Investment Company Act unless
such trust shall be registered under such Act or exempt from registration thereunder.

     (9) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant
Defeasance have been complied with.

     SECTION 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust;
Miscellaneous Provisions.

     Subject to the provisions of the last paragraph of Section 1003, all money, U.S. Government
Obligations and Foreign Government Obligations (including the proceeds thereof) deposited with the
Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the
Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to
Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the payment, either
directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as
the Trustee may determine, to the Holders of such Securities, of all sums due and to become due
thereon in respect of principal and any premium and

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interest, but money so held in trust need not be segregated from other funds except to the
extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations or Foreign Government Obligations deposited
pursuant to Section 1304 or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of Outstanding
Securities of the relevant series.

     Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon Company Request any money or U.S. Government Obligations or
Foreign Government Obligations held by it as provided in Section 1304 with respect to any
Securities which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities.

     SECTION 1306. Reinstatement.

     If the Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the
obligations under this Indenture and such Securities from which the Company has been discharged or
released pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had
occurred pursuant to this Article with respect to such Securities, until such time as the Trustee
or Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect
to such Securities in accordance with this Article; provided, however, that if the Company makes
any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the
Holders of such Securities to receive such payment from the money so held in trust.

     This instrument may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same instrument.

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

	 	 	 	 	 
	 	FIRST HORIZON NATIONAL CORPORATION

 	 
	 	By  	
 	 
	 	 	 	 

Attest:

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A., as Trustee

 	 
	 	By

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