<SEC-DOCUMENT>0000950123-11-032435.txt : 20110404
<SEC-HEADER>0000950123-11-032435.hdr.sgml : 20110404
<ACCEPTANCE-DATETIME>20110404133720
ACCESSION NUMBER:		0000950123-11-032435
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110402
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110404
DATE AS OF CHANGE:		20110404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENTAIR INC
		CENTRAL INDEX KEY:			0000077360
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY) [3550]
		IRS NUMBER:				410907434
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-04689
		FILM NUMBER:		11734818

	BUSINESS ADDRESS:	
		STREET 1:		5500 WAYZATA BLVD.
		STREET 2:		SUITE 800
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416
		BUSINESS PHONE:		763-545-1730

	MAIL ADDRESS:	
		STREET 1:		5500 WAYZATA BLVD.
		STREET 2:		SUITE 800
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENTAIR INDUSTRIES INC
		DATE OF NAME CHANGE:	19790327
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c63863e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 0pt"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>


<!-- xbrl,dc -->
<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Date of Report (Date of earliest event reported): April&nbsp;2, 2011</B>
</DIV>
<!-- /xbrl,dc -->

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Commission
file number 000-04689</b>
</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Pentair, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><B>(Exact name of Registrant as specified in its charter)</B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Minnesota</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>41-0907434</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(State or other jurisdiction of incorporation or organization)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(I.R.S. Employer Identification number)</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>5500 Wayzata Blvd, Suite&nbsp;800, Golden Valley, Minnesota</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>55416</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(Address of principal executive offices)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Zip code)</B></TD>
</TR>
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</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Registrant&#146;s telephone number, including area code: (763)&nbsp;545-1730</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="1%">&nbsp;</TD>
    <TD width="97%">&nbsp;</TD>
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<TR></TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#168;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#168;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#168;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#168;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
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</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>








<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">




<!--TOC-->
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<!-- link1 "ITEM 1.01 Entry into a Material Definitive Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 1.01 Entry into a Material Definitive Agreement.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;2, 2011, Pentair, Inc. (the &#147;Company&#148;), Pentair Netherlands B.V., an indirect wholly
owned subsidiary of the Company (&#147;Pentair Netherlands&#148;), Norit Holding B.V. (the &#147;Seller&#148;) and
Norit Proces Technologie Holding B.V. (the &#147;Target&#148;) entered into an Agreement (the &#147;Agreement&#148;)
pursuant to which, subject to the terms and conditions set forth in the Agreement, (i)&nbsp;Pentair
Netherlands agreed to purchase from the Seller all of the issued and outstanding shares in the
capital of the Target for a purchase price of &#128;503&nbsp;million plus an amount equal to third party bank
debt of the Target and its subsidiaries at closing less cash of the Target and its subsidiaries
available to pay off such bank debt and (ii)&nbsp;the Company agreed to guarantee the performance of the
obligations of Pentair Netherlands&#146; under the Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Agreement includes customary warranties and covenants of each of the parties. Warranties
regarding the Target and its business have only been made by the Target.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transaction is expected to close in the second quarter of 2011. Each party&#146;s obligation
to complete the transaction is subject to the fulfillment of customary conditions, including,
(i)&nbsp;the transaction having been cleared by the German regulatory authority or deemed to be cleared
pursuant to the lapse of the applicable waiting period, (ii)&nbsp;subject to certain exceptions, the
accuracy of the warranties of the other party contained in the Agreement, and (iii)&nbsp;material
compliance of the other party with its agreements and obligations contained in the Agreement. The
Agreement contains certain termination rights for both parties if the conditions are not satisfied
by June&nbsp;30, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing description of the Agreement does not purport to be complete and is qualified in
its entirety by reference to the Agreement, a copy of which is filed as Exhibit&nbsp;2.1 to this Current
Report on Form 8-K and is incorporated herein by reference. There are warranties contained in the
Agreement which were made by the parties to each other as of specific dates. The assertions
embodied in these warranties were made solely for purposes of the Agreement and may be subject to
important qualifications and limitations agreed to by the parties in connection with negotiating
its terms. Moreover, certain warranties may not be accurate or complete as of any specified date
because they are subject to a contractual standard of materiality that is different from certain
standards generally applicable to shareholders or were used for the purpose of allocating risk
between the parties rather than establishing matters as facts. Therefore, you should not rely on
the warranties contained in the Agreement as statements of factual information.
</DIV>
<!-- link1 "ITEM 9.01 Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not applicable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not applicable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not applicable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Exhibits</U>. The following exhibit is filed as part of the
information under Item&nbsp;1.01 of this Current Report on Form
8-K:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>
<TR>
    <TD style="font-size: 10pt">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Agreement, dated April&nbsp;2, 2011, among Norit
Holding B.V., Norit Process Technologie
Holdings B.V., Pentair Netherlands B.V. and
Pentair, Inc. *</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Certain schedules are omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K. Pentair, Inc. agrees
to furnish supplementally a copy of any omitted schedule to the Securities and Exchange Commission
upon request.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<!-- link1 "SIGNATURE" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized,
on April&nbsp;4, 2011.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">PENTAIR, INC.<BR>Registrant<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Angela D. Lageson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Angela D. Lageson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" nowrap>Senior Vice President, General Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PENTAIR, INC.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;Index to Current Report on Form&nbsp;8-K<BR>
Dated April&nbsp;2, 2011
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>
<TR>
    <TD style="font-size: 10pt">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">2.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Agreement, dated April&nbsp;2, 2011, among Norit Holding B.V., Norit
Process Technologie Holdings B.V., Pentair Netherlands B.V. and
Pentair, Inc. *</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Certain schedules are omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K. Pentair, Inc. agrees
to furnish supplementally a copy of any omitted schedule to the Securities and Exchange Commission
upon request.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>c63863exv2w1.htm
<DESCRIPTION>EX-2.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXECUTION VERSION</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="FONT-variant: SMALL-CAPS"><B>DATED 2 APRIL 2011</B></FONT>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>Norit Holding B.V.</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>- and -</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>Norit Proces Technologie Holding B.V.</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>- and -</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>Pentair Netherlands B.V.</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>- and -</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>Pentair, Inc.</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>AGREEMENT</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>for the sale and purchase of</B></FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS"><B>the whole of the issued share capital</B></FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS"><B>of </B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>Norit Proces Technologie Holding B.V.</B></FONT>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS">Skadden, Arps, Slate, Meagher &#038; Flom (UK)&nbsp;LLP</FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">40 Bank Street,</FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">Canary Wharf, </FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">London E14 5DS</FONT><BR>
(Ref: AMJ/BM/124490/2)
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Clause</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Page</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">1. INTERPRETATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2. SALE AND PURCHASE OF THE SALE SHARES; REPAYMENT OF EXISTING BANK DEBT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">3. CONDITIONS PRECEDENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">4. CONDUCT OF BUSINESS BEFORE COMPLETION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">5. COMPLETION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">6. DUE DILIGENCE INVESTIGATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">7. SELLER&#146;S WARRANTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">8. COMPANY&#146;S WARRANTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9. PURCHASER&#146;S AND GUARANTOR&#146;S WARRANTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">10. NO LEAKAGE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">11. USE OF NORIT NAME</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">12. TAX AFFAIRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">13. LIABILITY STATEMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">14. BOOKS AND RECORDS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">15. NON-SOLICITATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">16. NON-COMPETITION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">17. ANNOUNCEMENTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">18. CONFIDENTIALITY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">19. NOTICES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">20. POST COMPLETION UNDERTAKINGS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">21. GUARANTEE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">22. ASSIGNMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">23. COSTS AND EXPENSES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">24. INVALIDITY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">25. THIRD PARTY RIGHTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">26. NOTARY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">27. FURTHER ASSURANCE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">28. WHOLE AGREEMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">29. VARIATION AND WAIVER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">30. COUNTERPARTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">31. PAYMENTS AND NO SET-OFF</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">32. GOVERNING LAW AND JURISDICTION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">33. AGENT FOR SERVICE OF PROCESS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 1 THE COMPANY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 2 GROUP CHART</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 3 ACCOUNTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 4 TRANSFER DEED</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 5 COMPLETION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 6 SELLER WARRANTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 7 COMPANY WARRANTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 8 RESTRICTED ACTIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 9 NOTARY LETTER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 10 SELLER&#146;S LIMITATION OF LIABILITY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 11 CARBON SUPPLY AGREEMENTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCHEDULE 12 TRANSITION SERVICES AGREMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;(i)
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>THIS AGREEMENT </B>is made on 2 April&nbsp;2011
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>BETWEEN</B>:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Norit Holding B.V.</B>, a private company with limited liability (<I>besloten vennootschap met
beperkte aansprakelijkheid</I>) incorporated under the laws of the Netherlands, with its corporate
seat in Amsterdam, The Netherlands, having its registered office at Nijverheidsweg-Noord 72,
3812 PM Amersfoort, and with P.O. Box 105, 3800 AC Amersfoort, The Netherlands, and
registered with the trade register of the Chambers of Commerce under number 34274012 (the
&#147;<B>Seller</B>&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Norit Proces Technologie Holding B.V.</B>, a private company with limited liability (<I>besloten
vennootschap met beperkte aansprakelijkheid</I>), incorporated under the laws of the Netherlands,
with its corporate seat in Hengelo Ov, The Netherlands, having its registered office at
Hertmerweg 42C, 7625 RH Zenderen, and with P.O. Box 89, 7620 AB Borne, The Netherlands, and
registered with the trade register of the Chambers of Commerce under number 06032084 (the
&#147;<B>Company</B>&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Pentair Netherlands B.V.</B>, a private company with limited liability (<I>besloten vennootschap met
beperkte aansprakelijkheid</I>) incorporated under the laws of the Netherlands, having its
registered office at Prins Bernhardplein 200, 1097 JB Amsterdam, The Netherlands, and
registered with the trade register of the Chambers of Commerce under number 52416771 (the
&#147;<B>Purchaser</B>&#148;); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Pentair, Inc.</B>, a company incorporated under the laws of Minnesota, whose registered office is
at 5500 Wayzata Blvd., Suite&nbsp;800, Golden Valley, Minnesota 55416-1259 (the &#147;<B>Guarantor</B>&#148;).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>WHEREAS:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(A)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller indirectly owns all issued and outstanding shares in the capital of Norit
International N.V. As of the date of this Agreement, Norit International N.V. is the legal
and beneficial owner of all issued and outstanding shares in the capital of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(B)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller will at Completion be the legal owner of all issued and outstanding shares in the
capital of the Company, further details of which are set out on Schedule&nbsp;1. The Company is
the holding company of a group of companies involved in the CPT Business (as defined below),
as detailed in the structure chart set out in Schedule&nbsp;2.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(C)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller wishes to sell and the Purchaser wishes to purchase the Company on a cash and debt
free basis with economic effect from the Locked Box Date through a sale and purchase of the
Sale Shares on the terms and subject to the conditions of this Agreement and the Transaction
Documents (as defined below).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(D)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Guarantor has agreed to guarantee the performance of the obligations of the Purchaser
under this Agreement and the Transaction Documents.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(E)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company and the Purchaser are aware of the provisions of the Social and Economic Council
Merger Regulation for the protection of employees (<I>SER-Besluit Fusiegedragsregels 2000 ter
bescherming van de belangen van werknemers</I>), the provisions of the Dutch Works Councils Act
(<I>Wet op de ondernemingsraden</I>) and any other employee consultation regulations, and are each</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>satisfied that they have consulted with the employees of the Group to the extent required
prior to the signing of this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>IT IS AGREED </B>as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>INTERPRETATION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In this Agreement:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Acquiror</B>&#148; has the meaning given to that term in Clause 16.3;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Affiliate</B>&#148; means, in relation to any person, any wholly-owned subsidiary, or parent
undertaking or ultimate holding company of that person and any other wholly-owned subsidiary
of that ultimate holding company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Agent</B>&#148; has the meaning given to that term in Clause 33.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Agreed Form</B>&#148; means, in relation to any document, the form of that document which has been
initialled for the purpose of identification by the Purchaser (or the Purchaser&#146;s Solicitors
on behalf of the Purchaser) and the Seller (or the Seller&#146;s Solicitors on behalf of the
Seller);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Assurance</B>&#148; means any warranty, promise, representation, statement, assurance, covenant,
collateral contract, agreement, undertaking, indemnity, guarantee or commitment of any
nature whatsoever made or given by or on behalf of the Seller or any member of the Seller&#146;s
Group prior to Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Business Day</B>&#148; means a day on which banks are open for business in London, Amsterdam, and
Minneapolis, Minnesota (excluding Saturdays, Sundays and public holidays);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Carbon Supply Agreements</B>&#148; shall mean agreements for the Seller to supply the Group with
activated carbon for purposes of (a)&nbsp;providing the Group with the right to distribute
activated carbon to third parties and (b)&nbsp;the Group buying activated carbon for its own
account, in each case substantially in the form set forth in Schedule&nbsp;11;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Claim</B>&#148; means any claim made by a party to this Agreement arising out of, or in connection
with any Transaction Document, or the transactions contemplated thereby, or referred to
therein, howsoever arising;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Companies Act</B>&#148; means the Companies Act 2006 in force on the date hereof (and, to the extent
that any earlier Companies Act is in force, that Act);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Company Warranties</B>&#148; means the warranties contained in Schedule&nbsp;7 and &#147;<B>Company Warranty</B>&#148;
means any one of them;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Company&#146;s Account</B>&#148; has the meaning given to that term in Schedule&nbsp;3;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Competition Authority</B>&#148; means the German Federal Cartel Office (&#147;Bundeskartellamt&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Competition Condition</B>&#148; means the condition precedent to Completion set out in Clause 3.3;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Competitive Business</B>&#148; means the provision of (a)&nbsp;membrane and membrane systems for water
and beverage applications, (b)&nbsp;CO<SUB style="FONT-size: 85%; vertical-align: text-bottom">2</SUB> and O<SUB style="FONT-size: 85%; vertical-align: text-bottom">2</SUB> management and quality
control equipment for the</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>beverage industry, (c)&nbsp;hygienic and aseptic valves for beverage, food, pharmaceutical and
biotechnology industries or (d)&nbsp;pumps for water applications;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Completion</B>&#148; means completion of the sale, purchase and transfer of the Sale Shares in
accordance with Clause 5;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Completion Date</B>&#148; means the date on which Completion occurs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Confidential Information</B>&#148; has the meaning given to that term in Clause 18.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Contracts</B>&#148; means all written contracts, purchase orders, sales orders, licenses, leases and
other agreements, commitments, arrangements and understandings;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>CPT Business</B>&#148; means the provision of membrane and other clean process technologies and
solutions primarily for the water and beverage treatment markets;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Data Room</B>&#148; means the contents of the electronic data room maintained on behalf of Seller at
<U>https://datasite.merillcorp.com</U> as at the date of this Agreement, a copy of which
will be provided to the Purchaser and the Seller on CD-ROM;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>DCC</B>&#148; has the meaning given to that term in Clause 13;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Due Diligence Investigation</B>&#148; has the meaning given to that term in Clause 6;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>DHCV</B>&#148; means Doughty Hanson &#038; Co V Limited in its capacity as general partner of the limited
partnerships known as Doughty Hanson &#038; Co V LP No.&nbsp;1 and Doughty Hanson &#038; Co V LP No.&nbsp;2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Dutch Group Companies</B>&#148; means the Company and all other Group Companies incorporated in the
Netherlands;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Encumbrances</B>&#148; means any lien, pledge, charge (fixed or floating), mortgage, option, right
of pre-emption, right to acquire, assignment by way of security, trust arrangement for the
purpose of providing security or other security interests of any kind and any agreement to
create any of the foregoing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Existing CPT Bank Debt Amount</B>&#148; means the aggregate of all amounts repayable by Group
Companies under the Senior Facilities Agreement, including principal, accrued interest,
commissions, fees, costs, prepayment penalties and expenses, as at the Completion Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Fundamental Warranties</B>&#148; means the Seller Warranties set out in paragraphs 1.1, 1.2, 2.1,
2.2 and 2.3 of Schedule&nbsp;6;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Governmental Authority</B>&#148; means any supranational, national, state, municipal or local
government (including any subdivision, court, administrative agency or commission or other
authority thereof) or any other supranational, governmental, intergovernmental,
quasi-governmental authority, body, department or organisation, including the European
Union, or any regulatory body appointed by any of the foregoing in each case, in any
jurisdiction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Group</B>&#148; means the Company and the Subsidiaries and &#147;<B>Group Company</B>&#148; means any of them;</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Group EBITDA</B>&#148; means earnings before interest, taxes, depreciation and amortisation of the
Group determined as set out in Clause 4.4;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>IFRS</B>&#148; means the International Financial Reporting Standards as adopted by the European
Union;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means any applicable statute, law, ordinance, rule, policy or regulation;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Leakage</B>&#148; has the meaning given to that term in Clause 10.2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Lenders</B>&#148; has the meaning given to that term in the Senior Facilities Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Liability</B>&#148; or &#147;<B>Liabilities</B>&#148; means any direct or indirect indebtedness, guaranty,
endorsement, claim, loss, damage, deficiency, cost, expense (including capital
improvements), fine, penalty, obligation or responsibility, fixed or unfixed, known or
unknown, asserted or unasserted, liquidated or unliquidated, secured or unsecured;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Licences</B>&#148; has the meaning given to that term in Clause 11.2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Litigation</B>&#148; means any complaint, action, suit, proceeding, arbitration or other alternate
dispute resolution procedure, demand, claim, investigation or inquiry, whether civil,
criminal or administrative;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Locked Box Date</B>&#148; means 24:00 (CET)&nbsp;on 31 December&nbsp;2010;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Long Stop Date</B>&#148; means 30 June&nbsp;2011;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Management Presentations</B>&#148; means the management presentation and financial break-out session
provided to employees and advisers of the Guarantor&#146;s group by Seller&#146;s Group on 20 December
2010 in Amsterdam, The Netherlands;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Material Adverse Effect</B>&#148; means any material adverse change in, or material adverse effect
on, the business, financial condition or results of operations of the Group Companies, taken
as a whole; provided, however, that none of the following, in and of itself or themselves,
shall constitute a Material Adverse Effect, or shall otherwise be taken into account in
determining the occurrence of a Material Adverse Effect:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in the global economy generally or capital or financial markets
generally (other than which are materially disproportionately adverse with respect to
the Group);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in political conditions generally in any country or countries in
which a Group Company operates (other than which are materially disproportionately
adverse with respect to the Group);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes that are the result of factors generally affecting any of the
industries in which the Group operates or in which products or services of the Group
are used or distributed (other than which are materially disproportionately adverse
with respect to the Group); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes resulting from any actions or steps required by the express terms of
the Transaction Documents;</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>NMBV</B>&#148; has the meaning given to that term in Clause 20.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>NMBV Asset Sale</B>&#148; has the meaning given to that term in Clause 20.2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Noncompete Agreements</B>&#148; has the meaning given to that term in Clause 16.4;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Noncompete Parties</B>&#148; means DHCV and each of the individuals listed in Section&nbsp;1.1(b) of the
Disclosure Letter;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Norit NV</B>&#148; means Norit N.V. (formerly N Gamma B.V.), a private company with limited
liability (<I>besloten vennootschap met beperkte aansprakelijkheid</I>) incorporated under the laws
of the Netherlands, with its corporate seat in Amersfoort, The Netherlands, having its
registered office at Nijverheidsweg-Noord 72, 3812 PM Amersfoort, and with P.O. Box 105,
3800 AC Amersfoort, The Netherlands, and registered with the trade register of the Chambers
of Commerce under number 34274011<I>;</I></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Norit NV Fiscal Unity</B>&#148; means a group tax arrangement as referred to in article 15 of the
Corporate Income Tax Act 1969 (<I>Wet op de vennootschapsbelasting 1969</I>) and/or as referred to
in article 7 paragraph 4 of the VAT Act 1968 (<I>Wet op de omzetbelasting 1968</I>) and as further
referred to in Clause 12.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Norit India Distributorship Agreement</B>&#148; means the agreement effective the Completion Date
between Norit Nederland B.V. and Norit India Private Limited appointing Norit India Private
Limited as Norit Nederland B.V.&#146;s authorised non-exclusive distributor in India;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Norit Japan Agency and Distribution Agreement</B>&#148; means the agreement effective the Completion
Date between X-Flow B.V. and Norit Japan Co. Ltd. appointing Norit Japan Co. Ltd. as X-Flow
B.V.&#146;s authorised non-exclusive distributor in Japan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Notary</B>&#148; means Martine Bijkerk or another civil law notary (<I>notaris</I>), or such notary&#146;s
substitute, of Houthoff Buruma in Amsterdam;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Notary Letter</B>&#148; means the letter between the Seller, the Purchaser, ING Bank N.V., the
Notary and the Group Companies named therein relating to the steps to be taken and the
release of funds and security at Completion, to be executed prior to Completion
substantially in the form attached as Schedule&nbsp;9;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Notary&#146;s Account</B>&#148; has the meaning given to that term in Schedule&nbsp;3;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Notice</B>&#148; has the meaning given to that term in Clause 19.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>NPS Agent and Distribution Agreement</B>&#148; means the agreement effective the Completion Date
between Norit Nederland B.V. and Norit Purification Systems (Shanghai) Co. Ltd. appointing
Norit Purification Systems (Shanghai) Co. Ltd. as Norit Nederland N.V.&#146;s distributor in
China;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Party</B>&#148; means a party hereto and Parties means more than one or all of them; provided,
however, that the Company shall only be a Party for purposes of Clause 8 and Schedule&nbsp;7;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Permitted Leakage</B>&#148; has the meaning given to that term in Clause 10.3;</TD>
</TR>


</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Pre Sale Reorganisation</B>&#148; means the reorganisation undertaken/in the course of being
undertaken by members of the Seller&#146;s Group in preparation for the sale of the Company as
described in the PWC Memo;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Press Announcements</B>&#148; means the press announcements relating to the Transaction in the
Agreed Form;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Proceedings</B>&#148; means any proceeding, suit or action arising out of or in connection with this
Agreement or its subject matter (including its validity, formation at issue, effect,
interpretation, performance or termination) or any transaction contemplated by this
Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Purchase Price</B>&#148; has the meaning given to that term in Clause 2.2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Purchaser&#146;s Group</B>&#148; means the Purchaser and all other members of the same group of companies
as the Purchaser (including, with effect from Completion, each Group Company);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Purchaser&#146;s Solicitors</B>&#148; means Foley &#038; Lardner LLP;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>PWC Memo</B>&#148; means the PricewaterhouseCoopers tax structure memorandum dated 1 April&nbsp;2011;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Real Property</B>&#148; means all real property owned, leased, used or occupied by any Group
Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Regulatory Laws&#148; </B>means any Laws that are designed or intended to prohibit, restrict or
regulate (i)&nbsp;foreign investment or (ii)&nbsp;actions having the purpose or effect of
monopolization or restraint of trade or lessening of competition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Related Persons</B>&#148; has the meaning given to that term in Clause 10.4;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Relevant Interest</B>&#148; has the meaning given to that term in Clause 16.2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Reports</B>&#148; means the information memorandum prepared by JP Morgan, the PWC Memo, the
Executive Summary section contained on pages 14-69 of the financial vendor due diligence
report prepared by PricewaterhouseCoopers, the Tax vendor due diligence report prepared by
PricewaterhouseCoopers, the Executive Summary Table contained on pages 10-18 of the
environmental vendor due diligence report prepared by RPS and the vendor pensions due
diligence report prepared by Mercer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Representative</B>&#148; means, in relation to any person, such person&#146;s directors, officers,
employees, lawyers, accountants, bankers or other advisers, agents, sub-contractors or
brokers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Restricted Actions</B>&#148; means the matters listed in Schedule&nbsp;8;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Restriction Period&#148; </B>has the meaning given to that term in Clause 16.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Sale Shares</B>&#148; means the entire issued share capital of the Company at Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Seller Warranties</B>&#148; means the warranties contained in Schedule&nbsp;6 and &#147;<B>Seller Warranty</B>&#148; means
any one of them;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Seller&#146;s Account</B>&#148; has the meaning given to that term in Schedule&nbsp;3;</TD>
</TR>


</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Seller&#146;s Group</B>&#148; means the Seller and all other direct and indirect subsidiaries of Norit NV
(including, until Completion, each Group Company);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Seller&#146;s Solicitors</B>&#148; means Skadden, Arps, Slate, Meagher &#038; Flom (UK)&nbsp;LLP of 40 Bank Street,
Canary Wharf, London E14 5DS;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Senior Employee</B>&#148; means any employee of a group company whose total remuneration in the 12
months preceding the date of this Agreement exceeded &#128;100,000;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Senior Facilities Agreement</B>&#148; means the Senior Facilities Agreement dated 27 June&nbsp;2007
between the Seller, the Original Borrowers and the Original Guarantors (as defined therein),
ING Bank N.V as Mandated Lead Arranger, Agent, Issuing Bank and Security Agent and the
Original Lenders (as defined therein);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Subsidiaries</B>&#148; means the subsidiaries of the Company as set out in the structure chart in
Schedule&nbsp;2 and &#147;<B>Subsidiary</B>&#148; means any of them;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Tax</B>&#148; means all forms of taxation, whether direct or indirect, withholding taxes of any
nature, levies, duties, governmental fees, premiums or charges of any kind wherever imposed,
including but not limited to: corporate income tax (including &#145;WIR&#146; premiums (premiums under
the Investment Accounts Act)), wage withholding tax, personal income tax and social security
contributions, VAT, customs duties and excise duties, capital duty, transfer tax on civil
law transactions, dividend tax, stamp duty, (municipal)&nbsp;real estate (transfer)&nbsp;tax and other
municipal taxes and levies, anti-pollution taxes and levies, together with related fines,
surcharges, interest, penalties, additions to taxes or additional amount owed, due and
payable, levied or announced either by a virtue of law or by any Tax Authority in any
jurisdiction, as well as any liability for any of the foregoing as transferee;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Tax Authority</B>&#148; means any government, state or municipality or any local, state, federal or
other authority, body or official anywhere in the world exercising a fiscal, revenue,
customs or excise function (including, without limitation, the Dutch <I>Belastingdienst</I>);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Third Party</B>&#148; has the meaning given to that term in Clause 25.1;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Transaction</B>&#148; means the acquisition by the Purchaser of the Sale Shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Transaction Documents</B>&#148; means this Agreement, the Transfer Deed and the Notary Letter and
any other documents to be entered into pursuant to any such documents and the letter
agreement between the Seller and the Guarantor dated the date of this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Transaction Expenses</B>&#148; shall mean (a)&nbsp;all fees, costs and expenses of external advisers
(including but not limited to investment bankers, attorneys and accountants) engaged by the
Seller, its direct or indirect shareholders, the Company and/or the Group Companies in
relation to the Transaction, including but not limited to the preparation of the Reports,
running the Data Room, the Pre Sale Reorganisation and the (re)financing of the Group
Companies; (b)&nbsp;all Transaction-related bonuses or accelerated benefits payable to any
officer, director, employee, shareholder or Affiliate of any Group Company as a result of
the Transaction; and (c)&nbsp;all amounts payable to any officer, director, employee, shareholder
or Affiliate of any Group Company in respect of share capital owned (including restricted
share capital) in any Group Company by, and options to purchase share capital in any Group
Company granted to, any officer, director, employee, shareholder or Affiliate of any Group
Company as a result of the Transaction;</TD>
</TR>


</TABLE>
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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Transition Services Agreement</B>&#148; means an agreement substantially in the form set forth in
Schedule&nbsp;12;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Transfer Deed</B>&#148; means the notarial deed of transfer to effect the transfer of the Sale
Shares to the Purchaser, to be executed at Completion substantially in the form attached as
Schedule&nbsp;4;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>VAT</B>&#148; means in relation to any jurisdiction within the European Community, the value added
tax provided for in Directive 2006/112/EC and charged under the provisions of any national
legislation implementing that directive or Directive 77/388/EEC together with legislation
supplemental thereto and, in relation to any other jurisdiction, the equivalent Tax (if any)
in that jurisdiction; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Works Council</B>&#148; means the relevant employee representative body which has been granted
certain advising powers in order to ensure the proper consultation and representation of the
employees of the Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In this Agreement, except where the context otherwise requires:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to Clauses, paragraphs, sub-paragraphs, Schedules and the
Recitals are to Clauses, paragraphs, sub-paragraphs and the Recitals of, and the
Schedules to, this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to this Agreement or to any specified provision of this Agreement
are to this Agreement or provision as in force for the time being, as amended,
modified, supplemented, varied, assigned or novated, from time to time;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to this Agreement includes the Schedules to it, each of which
forms part of this Agreement for all purposes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to a &#147;<B>company</B>&#148; shall be construed so as to include any company,
corporation or other body corporate, wherever and however incorporated or established;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to a &#147;<B>person</B>&#148; shall be construed so as to include any individual,
firm, body corporate, joint venture, unincorporated association or partnership
(whether or not having separate legal personality), its successors and assigns;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to writing shall include any mode of reproducing words in a
legible and non-transitory form;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to &#147;<B>indemnify</B>&#148; and &#147;<B>indemnifying</B>&#148; any person against any
circumstance include indemnifying and keeping that person harmless from all actions,
claims and proceedings from time to time made against that person and all loss or
damage and all payments, costs or expenses made or incurred by that person as a
consequence of or which would not have arisen but for that circumstance;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to a time of the day is to London time, except as otherwise
expressly set forth in this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to &#147;<B>euros</B>&#148; or &#147;<B>&#128;</B>&#148; shall be construed as references to the lawful
currency for the time being of participating member states for the purposes of the
European Monetary Union;</TD>
</TR>




</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to any English legal term for any action, remedy, method of
judicial proceeding, legal document, legal status, court, official or any legal
concept or thing shall in respect of any jurisdiction other than England be deemed to
include what most nearly approximates the English legal term in that jurisdiction and
references to any English statute or enactment shall be deemed to include any
equivalent or analogous laws or rules in any other jurisdiction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>where in this Agreement a Dutch term is given in italics or in italics and in
brackets after an English term and there is any inconsistency between the Dutch and
the English term , the meaning of the Dutch term shall prevail;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(l)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the expressions &#147;<B>parent undertaking</B>&#148;, &#147;<B>subsidiary undertaking</B>&#148; and
&#147;<B>undertaking</B>&#148; shall have the meaning given in sections 1162, 1161 and 1173
respectively of the Companies Act, the expression &#147;<B>subsidiary</B>&#148;, &#147;<B>holding company</B>&#148; and
&#147;<B>wholly-owned subsidiary</B>&#148; shall have the meaning given in section 1159 of the
Companies Act and the expression &#147;<B>group</B>&#148; shall have the meaning given in section 474
of the Companies Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Parties acknowledge that they have participated jointly in the
negotiation and drafting of this Agreement. In the event that a question of
interpretation arises (including as to the intention of the Parties), no presumption
or burden of proof shall arise in favour or against any Party based on the authorship
of any provisions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(n)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>words importing the singular include the plural and vice versa, words
importing a gender include every gender;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(o)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>references to &#147;<B>costs</B>&#148; and/or &#147;<B>expenses</B>&#148; incurred by a person shall not
include any amount in respect of VAT comprised in such costs or expenses for which
either that person or, if relevant, any other member of the group to which that person
belongs for VAT purposes is entitled to credit or repayment as VAT input tax under any
applicable provisions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(p)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reference to any party shall, where relevant, be deemed to be references to
or to include, as appropriate, its permitted successors, assigns or transferees;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(q)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a reference to &#147;<B>to the Seller&#146;s knowledge</B>&#148; shall mean to the knowledge of the
Seller having made enquiry of those individuals listed in Section&nbsp;1.1(c) of the
Disclosure Letter; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(r)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>headings are inserted for convenience only and shall be ignored in construing
this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>SALE AND PURCHASE OF THE SALE SHARES; REPAYMENT OF EXISTING BANK DEBT</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On and subject to the provisions of this Agreement, at Completion the Seller shall sell and
transfer, and the Purchaser shall purchase and accept with economic effect from the Locked Box
Date, the Sale Shares, on the basis that the Sale Shares shall be sold free from all
Encumbrances and together with all rights attaching to them as at the Locked Box Date,
including the right to receive all dividends and distributions declared, made or paid on or
after the Locked Box Date other than any Permitted Leakage.</TD>
</TR>




</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The consideration payable by the Purchaser for the purchase of the Sale Shares shall be the
sum of &#128;492,810,000 (the &#147;<B>Purchase Price</B>&#148;) plus interest thereon from (but excluding) the
Locked Box Date to (but including) the Completion Date in an amount equal to &#128;10,000,000.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prior to Completion, the Purchaser and the Seller shall cooperate in good faith to develop a
mutually agreed on plan (the &#147;<B>Debt Repayment Plan</B>&#148;) to use cash of the Group Companies to pay
the Existing CPT Bank Debt Amount to the extent reasonably possible. The Purchaser shall at
Completion pay or, with the assistance of the Seller pursuant to the Debt Repayment Plan (as
agreed), procure payment by the Group Companies of the Existing CPT Bank Debt Amount, which
amount shall be notified to the Purchaser by the Seller no later than 3 Business Days prior to
the Completion Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchase Price and the Existing CPT Bank Debt Amount shall be paid in euros on or prior
to the Completion Date by wire transfer into the Notary&#146;s Account for receipt for value into
the Notary&#146;s Account by 9.00 am (CET)&nbsp;on the Completion Date. Prior to the execution of the
Transfer Deed the Notary shall hold the funds received into its account for the benefit of the
Party who has paid those funds, and immediately after the execution of the Transfer Deed the
Notary shall hold the funds for such persons as are specified in the Notary Letter. The
Parties acknowledge that neither the Purchase Price nor the Existing CPT Bank Debt Amount is
subject to Dutch VAT.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any payment is made by the Seller to the Purchaser under or in respect of any breach of
any provision of this Agreement the payment shall so far as possible be treated as a reduction
in the Purchase Price, and the Purchase Price shall accordingly be reduced by the amount of
such payment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless otherwise expressly stated in this Agreement all payments to be made under this
Agreement shall be made to the Notary, the Seller, the Purchaser or the Company to the
accounts set forth on Schedule&nbsp;3 or such accounts as designated by written notice provided to
the other Parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>CONDITIONS PRECEDENT</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The obligation of the Purchaser to effect Completion is conditional upon the satisfaction of
the following conditions before the Completion Date:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each of the Seller Warranties made by the Seller (save for the Seller
Warranties set out in paragraph 2.1 of Schedule&nbsp;6) shall be true and correct in all
respects when made and (save for the Seller Warranties set out in paragraph 2.5 of
Schedule&nbsp;6) shall be true and correct in all respects at and as of the Completion Date
(in each case, without giving effect to materiality or similar phrases in such Seller
Warranties) as though such Seller Warranties were made or given on and as of the
Completion Date, except where the failure of such Seller Warranties to be so true and
correct would not, individually or in the aggregate, have a material adverse effect on
the Seller&#146;s ability to consummate the transactions contemplated by this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each of the Company Warranties made by the Company shall be true and correct
in all respects when made and shall be true and correct in all respects at and as of
the Completion Date (in each case, without giving effect to materiality, Material
Adverse Effect or similar phrases in such Company Warranties) as though such Company
Warranties were made or given on and as of the Completion Date, except where the</TD>
</TR>


</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>failure of such Company Warranties to be so true and correct would not,
individually or in the aggregate, have a Material Adverse Effect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Seller shall have in all material respects performed and complied with
all of its respective agreements and obligations under this Agreement that are to be
performed or complied with by the Seller or the Company on or before the Completion
Date, except where the failure of the Seller has been rectified or indemnified to the
satisfaction of the Purchaser acting reasonably;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Pre Sale Reorganisation (other than those actions described in Clauses
20.1, 20.2 and 20.3 of this Agreement) shall have been completed, including the
transfer of the Sale Shares by Norit International N.V. to the Seller; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Group EBITDA shall be not less than &#128;9,000,000.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The obligation of the Seller to effect the Completion is conditional upon the satisfaction of
the following conditions before the Completion Date:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each of the warranties made by the Purchaser and the Guarantor in Clause 9
shall be true and correct in all respects when made and shall be true and correct in
all respects at and as of the Completion Date (in each case, without giving effect to
materiality or similar phrases in such warranties) as though such warranties were made
or given on and as of the Completion Date, except where the failure of such warranties
to be so true and correct would not, individually or in the aggregate, have a material
adverse effect on the Purchaser&#146;s ability to consummate the transactions contemplated
by this Agreement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Purchaser and the Guarantor shall have in all material respects performed
and complied with all of their respective agreements and obligations under this
Agreement that are to be performed or complied with by the Purchaser or the Guarantor
on or before the Completion Date, except where the failure of the Purchaser or the
Guarantor has been rectified or indemnified to the satisfaction of the Seller acting
reasonably.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Completion is conditional upon the satisfaction of the following Competition Condition before
the Long Stop Date:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Completion being permissible pursuant to Section&nbsp;41 of the German Act against
Restraints of Competition (&#147;<B>GWB</B>&#148;) as a result of (i)&nbsp;the German Federal Cartel Office
(&#147;<B>Bundeskartellamt</B>&#148;) having cleared the Transaction, or (ii)&nbsp;the Transaction being
deemed to be cleared pursuant to the lapse of the applicable waiting periods.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order to satisfy the Competition Condition, the Purchaser and the Seller shall, and the
Seller shall procure that each Group Company shall,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reasonably cooperate in all respects in the preparation of any filing or
notification to the Competition Authority and in connection with any submission,
investigation or inquiry by the Competition Authority;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>use commercially reasonable efforts to supply to the Competition Authority as
promptly as practicable any additional information requested pursuant to any
applicable Laws and take all other procedural actions required in order to obtain any
necessary clearance or to cause any applicable waiting periods to commence and expire;</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>promptly provide each other with copies of any written communication received
or sent (or written summaries of any non-written communication) in connection with any
proceeding relating to the Competition Condition; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>absent objection from the Competition Authority give each other and their
respective advisors the opportunity to participate in all meetings and conferences
with the Competition Authority.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, each Party undertakes to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>use its commercially reasonable efforts to procure the filing of any
necessary submissions to the Competition Authority as soon as practicable and in any
event within 5 Business Days after the date of this Agreement; provided that the
Purchaser shall be responsible for making the filing and for payment of any filing
fees assessed by the Competition Authority;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provide the other Parties (or Representatives nominated by such other
Parties) with draft copies of all submissions and communications to the Competition
Authority in relation to satisfaction of the Competition Condition. The Parties shall
provide such copies at such time as will allow the other Parties (or their nominated
Representatives) a reasonable opportunity to provide comments on such submissions and
communications before they are submitted or sent and provide the other Parties (or
their nominated Representatives) with copies of all such submissions and
communications in the form submitted or sent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>disclose in writing to the other Parties as promptly as practicable upon
becoming aware of anything which would reasonably be expected to prevent or delay the
Competition Condition from being satisfied; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of the Purchaser, as promptly as practicable, but not later than
within one Business Day of the Competition Condition being satisfied, notify the other
Parties.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall take such commercially reasonable steps or actions as may be necessary to
obtain each consent, approval or waiver or eliminate each and every impediment to the
Transaction under any antitrust, competition or trade regulation law; provided, however, that
nothing in this Agreement shall require, or be construed to require, the Purchaser to make any
disposition of assets of the Purchaser or any Group Company in order to obtain each consent,
approval or waiver or to eliminate each and every impediment to the Transaction under any
antitrust, competition or trade regulation law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To facilitate the Completion Condition being satisfied, each of the Parties shall jointly (to
the extent practicable) use commercially reasonable efforts to facilitate obtaining the
consent and approval of the Competition Authority under any applicable Regulatory Law and the
expiration of any applicable waiting period under any applicable Regulatory Law, to (i)&nbsp;avoid
the filing of any action, suit or proceeding by the Competition Authority under any applicable
Regulatory Law to prevent or enjoin the consummation of the Transaction and (ii)&nbsp;secure the
termination of any investigation by the Competition Authority under any applicable Regulatory
Law, including complying with any requests for documents and additional information issued by
the Competition Authority; provided, however, that nothing in this Agreement shall require, or
be construed to require, the Purchaser to litigate or defend any challenge, whether in a court
or before an</TD>
</TR>


</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>administrative agency, to the consummation of the Transaction brought under any competition
Law by a Governmental Authority or a private party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If one or more of the conditions set forth in Clause 3.1 or Clause 3.2 or the Competition
Condition:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>remains unsatisfied as at the Long Stop Date; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>becomes impossible to satisfy before the Long Stop Date;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the provisions of Clause 3.9 shall apply.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.9</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Clause shall apply only in the circumstances referred to in Clause 3.8 and, if
applicable, Clause 5.4. Where this Clause applies, this Agreement, other than this Clause 3.9
and Clauses 1 (<I>Interpretation</I>), 17 (<I>Announcements</I>), 18 (<I>Confidentiality</I>), 19 (<I>Notices</I>), 21
(<I>Guarantee</I>), 23 (<I>Costs and Expenses</I>), 24 (<I>Invalidity</I>), 25 (<I>Third party rights</I>), 28 (<I>Whole
Agreement</I>), 30 (<I>Counterparts</I>), 32 (<I>Governing law and jurisdiction</I>) and 33 <I>(Agent for Service
of Process) </I>shall automatically terminate with immediate effect and each Party&#146;s rights and
obligations other than those specified above shall cease immediately on termination. Such
termination shall not affect the rights and obligations of any Party existing before
termination. With due observation of the aforementioned, neither the Seller nor the Purchaser
shall make any Claim against the other, in whatever form, due to a termination of the
Agreement under this Clause 3.9.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>CONDUCT OF BUSINESS BEFORE COMPLETION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to Clause 4.2, the Seller shall procure that during the period from the date of this
Agreement to Completion:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Group Companies shall continue to carry on business in the normal course
in compliance with all Laws applicable to them and in substantially the same manner as
their businesses have been carried on before the date of this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Group Companies shall pay all premiums due on each insurance policy of
the Group Companies in effect as of the date of this Agreement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>no Group Company shall undertake any of the Restricted Actions.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Clause 4.1 shall not operate so as to restrict or prevent:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any matter undertaken at the written request of the Purchaser or with its
prior written approval (such approval not to be unreasonably withheld or delayed);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any matter reasonably undertaken by any Group Company in an emergency or
disaster situation with the intention of minimising any adverse effect thereof;
provided, however, that the Seller shall provide prompt written notice to the
Purchaser of any matter so undertaken;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the completion or performance of any obligations required to be undertaken
pursuant to any Contract entered into by any Group Company prior to the date of this
Agreement;</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any act or conduct which any Group Company is required to take, or omit to
take, as a result of, or in order to comply with, any applicable Law;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the entering into in the ordinary course of business of any Contract that is
consistent with past practice (but not so as to breach paragraph (n)&nbsp;of Schedule&nbsp;8);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any scheduled increases in salaries or wages or, to the extent described in
Section&nbsp;4.2(f) of the Disclosure Letter, bonus payments occurring in the ordinary
course of business consistent with past practice with respect to any category of
employees of any member of the Group;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any matters undertaken in order to comply with the requirements of any
Governmental Authority;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any matter contemplated in this Agreement or another Transaction Document; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any transaction forming part of the Pre Sale Reorganisation undertaken as
described in the PWC Memo.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall procure that the Pre Sale Reorganisation (other than those actions described
in Clauses 20.1, 20.2 and 20.3 of this Agreement) is completed, including the transfer of the
Sale Shares by Norit International N.V. to the Seller, prior to Completion.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the calculation of Group EBITDA for the purpose of Clause 3.1(e):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for the months of January and February&nbsp;2011, the Group EBITDA shall be the
Group EBITDA set out in the Management Accounts (as defined in paragraph 3.1 of
Schedule&nbsp;7) (prepared using IFRS) contained in folders 2.2.10.1.1 and 2.2.10.2.1 of
the Data Room;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for each of the months of March and April&nbsp;2011, the Company shall prepare and
send to the Seller and the Purchaser by no later than the 20th day of the next
following month management accounts for that month in the form of the Management
Accounts which shall be prepared on a consistent basis as the January&nbsp;2011/February
2011&nbsp;monthly management accounts (using IFRS) and Group EBITDA shall, in the absence
of manifest error, be the Group EBITDA as shown by those accounts provided always that
should Completion be scheduled for a date when the April&nbsp;2011&nbsp;monthly management
accounts have not been delivered to the Purchaser as set out above, the provisions of
sub-clause (c)&nbsp;below shall apply as if the reference to May&nbsp;2011&nbsp;monthly management
accounts was extended to cover the April&nbsp;2011 and May&nbsp;2011&nbsp;monthly management
accounts; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for the month of May&nbsp;2011, the Company shall by no later than 3 May&nbsp;2011
produce and send to the Purchaser and the Seller the Company&#146;s best estimate of Group
EBITDA for May&nbsp;2011 approved by its board, acting in good faith (but with no personal
liability in the absence of fraud or wilfully approving a document known to be
inaccurate);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and Group EBIDTA shall be the aggregate of the amounts shown in the documents produced in
accordance with Clause 4.4(a) to 4.4(c). For the avoidance of doubt the management accounts
prepared and to be prepared have the normal status of management accounts and no period end
adjustments have been made.</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In respect of the Transaction contemplated by this Agreement, the Parties shall comply with
the Social and Economic Council Merger Regulation for the protection of employees (<I>SER-Besluit
Fusiegedragsregels 2000 ter bescherming van de belangen van werknemers</I>).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>COMPLETION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to satisfaction of the conditions set forth in Clause 3.1 to Clause 3.3, Completion
shall take place at the offices of the Notary on the earlier of (a)&nbsp;May&nbsp;13, 2011, provided
that such date is five Business Days after the satisfaction of the Competition Condition or
(b)&nbsp;five Business Days after the satisfaction of the Competition Condition if the Completion
does not occur on May&nbsp;13, 2011, or at such other time and/or venue as may be agreed in writing
between the Seller and the Purchaser.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prior to or at Completion, the Seller shall cause all intercompany accounts and obligations
between the Seller or its Affiliates (other than the Group Companies) and the Group Companies
as at 30 April&nbsp;2011 to be settled in the manner set forth in the PWC Memo (for the avoidance
of doubt, regardless of the euro amounts of such intercompany accounts and obligations set
forth in the PWC Memo). Effective as of Completion, the Seller shall, and shall cause the
Seller&#146;s Group (other than the Group Companies) to, unconditionally and irrevocably release
and discharge the Group Companies from all claims arising prior to, at or after Completion
that the Seller or any member of the Seller&#146;s Group has or may have against the Group
Companies, other than claims arising out of the Transaction or those which reflect the
ordinary course of trading.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prior to or at Completion the Purchaser shall deliver or take (or cause to be delivered or
taken) the documents and actions listed in paragraph 1 of Schedule&nbsp;5 and subject thereto the
Seller shall deliver or take (or cause to be delivered and taken) the documents and actions
listed in paragraph 2 of Schedule&nbsp;5.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any foregoing provision of this Clause 5 is not complied with in any material respect the
Purchaser (in the case of non-compliance by the Seller or the Company) or the Seller (in the
case of non-compliance by the Purchaser) shall be entitled (in addition to and without
prejudice to all other rights or remedies available to it, including the right to claim
damages) by written notice to the other, served on such date:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to elect not to proceed with the transactions set out herein whereupon the
provisions of Clause 3.9 shall apply; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to effect Completion so far as practicable having regard to the defaults
which have occurred; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to fix a new date for Completion not being later than the Long Stop Date in
which case the foregoing provisions of this Clause 5.4 shall apply to Completion as so
deferred.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Seller postpones Completion to another date in accordance with Clause 5.4(c), the
provisions of this Agreement apply as if that other date is the Completion Date, provided that
the Existing CPT Bank Debt Amount shall be recalculated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>DUE DILIGENCE INVESTIGATION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser acknowledges and agrees that:</TD>
</TR>


</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has performed, with the assistance of professional advisers, a due
diligence investigation with respect to the Sale Shares, the Group Companies and the
CPT Business during the period of 2 December&nbsp;2010 to the date of this Agreement on the
basis of the information provided by the Seller, the Group Companies and their
advisers including the information in the Data Room, the Reports and the Management
Presentations (the &#147;<B>Due Diligence Investigation</B>&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for the purposes of the Due Diligence Investigation the Purchaser has had
(and its advisers have had) the opportunity to review information made available to
the Purchaser and its advisers, by having had, amongst other, (i)&nbsp;access to the
Reports and financial, Tax, legal, commercial and other information provided in the
Data Room, (ii)&nbsp;the opportunity to submit questions to and receive answers from the
Seller on any matter that it deemed proper and necessary for the purposes of entering
into this Agreement, (iii)&nbsp;access to the management of the Group companies (including
documents provided to Representatives of the Purchaser through meetings with the
management of the Group), and (iv)&nbsp;site visits, and the Purchaser has raised with the
Seller and the Group Companies all issues which it considered relevant in connection
with the Transaction.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From the date hereof until the Completion Date, except as prohibited by applicable Law, the
Seller shall cause the Group Companies and their relevant officers, employees, agents,
independent accountants and advisors to furnish to the Purchaser and its representatives, at
reasonable times and places, (a)&nbsp;such access to the facilities and the employees of the Group
Companies as the Purchaser may from time to time reasonably request, (b)&nbsp;such access to the
assets, books and records of the Group Companies as the Purchaser may from time to time
reasonably request and (c)&nbsp;such access to financial and operating data and other information
relating to the Group Companies as the Purchaser may from time to time reasonably request,
including access to the work papers of the Group Companies&#146; auditors (with the consent of such
auditors), in each case to the extent that such information is not or can not be provided
through the Data Room and as is reasonably necessary to plan the integration of the Group
Companies into the Purchaser&#146;s Group and without breaching any relevant competition Law;
provided that the Seller shall have no obligation to provide the Purchaser with access to
Trade Secrets (as defined in Schedule&nbsp;7). If, at any time after the date of this Agreement,
the Purchaser wishes to insure against liabilities of the Purchaser and the Group in respect
of claims for breaches of the Seller Warranties or the Company Warranties, the Seller shall
provide such information as a prospective insurer may reasonably require before effecting the
insurance, subject to the Purchaser and its insurer only using such information for that
purpose and keeping such information confidential in accordance with Clause 18 of this
Agreement; provided that the Seller shall have no obligation to provide any prospective
insurer with access to Trade Secrets (as defined in Schedule&nbsp;7). A senior member of the
Group&#146;s management nominated by the Seller shall be required to be present wherever access is
granted pursuant to this Clause 6.2.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>SELLER&#146;S WARRANTIES</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller warrants to the Purchaser in the terms of the Seller Warranties (i)&nbsp;at the date of
this Agreement (save for the Seller Warranties set out in paragraph 2.1 of Schedule&nbsp;6) and
(ii)&nbsp;at Completion (save for the Seller Warranties set out in paragraph 2.5 of Schedule&nbsp;6).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each of the Seller Warranties set out in each paragraph of Schedule&nbsp;6 shall be separate and
independent and, save as otherwise expressly provided in this Agreement, shall not be limited
by reference to any other paragraph of Schedule&nbsp;6.</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller&#146;s liability under or in connection with any Claim shall be limited or excluded, as
the case may be, as set out in Schedule&nbsp;10.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>COMPANY&#146;S WARRANTIES</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company warrants to the Purchaser in the terms of the Company Warranties at the date of
this Agreement and at Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each of the Company Warranties set out in each paragraph of Schedule&nbsp;7 shall be separate and
independent and, save as otherwise expressly provided in this Agreement, shall not be limited
by reference to any other paragraph of Schedule&nbsp;7.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>PURCHASER&#146;S AND GUARANTOR&#146;S WARRANTIES</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser and the Guarantor jointly and severally warrant to the Seller that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each of the Purchaser and the Guarantor is validly incorporated, in existence
and duly registered under the Laws of its jurisdiction of incorporation;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Purchaser and the Guarantor each have the requisite power and authority
to enter into and to perform each Transaction Document to which they are a party;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each Transaction Document to be entered into by the Purchaser and the
Guarantor constitutes or will, when executed, constitute, legally valid and binding
obligations of the Purchaser and the Guarantor;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>compliance with the terms of each Transaction Document does not and will not
conflict with or constitute a default or a breach under any provision of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the memorandum or articles of association or equivalent
constitutional documents of the Purchaser or the Guarantor; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any order, judgment, award, injunction, decree, ordinance or
regulation or any other restriction of any kind or character by which the
Purchaser or the Guarantor is bound or submits; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any agreement, instrument or contract to which the Purchaser
or the Guarantor is a party or by which it is bound;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>except as needed to satisfy the Competition Condition, neither the Purchaser
nor the Guarantor is required to obtain any consent or approval of, or give any notice
to or make any registration with, any Governmental Authority which has not been
obtained or made at the date hereof both on an unconditional basis and on a basis
which cannot be revoked (save pursuant to any legal or regulatory entitlement to
revoke the same other than any reason of any misrepresentation or misstatement);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>there are no outstanding proceedings pending or to the knowledge of the
Purchaser or the Guarantor, threatened against or affecting the Purchaser or the
Purchaser&#146;s Guarantor, challenging or seeking to restrain or prohibit any of the
transactions contemplated by this Agreement or any other Transaction Document; and</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Purchaser will have access to sufficient funds on the Completion Date to
enable it to meet all obligations under this Agreement, and the Guarantor will have
access to sufficient funds on the Completion Date to enable it to meet all obligations
under this Agreement if required pursuant to the guarantee contained in Clause 21.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NO LEAKAGE</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller undertakes to the Purchaser that if during the period from the Locked Box Date
until the Completion Date the Seller or any of its Related Persons (as defined below) has
received or will receive from any Group Company any Leakage other than Permitted Leakage (each
as defined below), then the Seller shall pay to the Purchaser or, if so requested by the
Purchaser, to a Group Company an amount in cash (in the same currency as the Leakage) equal to
the amount of the Leakage received by the Seller or any Related Person and, if applicable to
such Leakage, shall terminate, cancel and rescind any and all agreements or commitments that
constitute Leakage (other than Permitted Leakage or otherwise as expressly permitted in this
Agreement).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purposes of this Agreement, the term &#147;<B>Leakage</B>&#148; means:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any interest payment or any dividend or distribution (cash or non-cash)
declared, paid, made or agreed or obligated to be made by any Group Company to the
Seller or any Related Person, or the issue or sale of any securities of any Group
Company to the Seller or any Related Person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other payments paid, made or agreed to be made (including management
fees) by any Group Company to or for the benefit of the Seller or any Related Person
by any Group Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any transfer of assets of any Group Company to or for the benefit of the
Seller or any Related Person or assumption, indemnification or incurrence by any Group
Company of any liabilities of or for the benefit of the Seller or any Related Person
or any repayment of debt or payment by any Group Company of Tax due by the Seller or
any Related Person, or any agreement or obligation to take such action;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any Transaction Expenses (other than Transaction Expenses as set out in
clause 10.3(b)) to the extent paid, payable, assumed, indemnified or incurred by any
Group Company but not including any amounts paid prior to the Locked Box Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any payments made, or agreed to be made by any Group Company to the Seller or
any Related Person for the purchase, redemption, repurchase, repayment or acquisition
of any share capital or other securities of any member of the Group, or any other
return of capital to the Seller or any Related Person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the waiver or agreement to waive by any Group Company of (i)&nbsp;any amount owed
to that Group Company by the Seller or by any Related Person or (ii)&nbsp;any claims by a
Group Company in respect of any agreement or arrangement with the Seller or any
Related Person; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the payment or agreement to pay by any Group Company of any fees, costs or
Tax or other amounts as a result of those matters set out in subsections (a)&nbsp;to (f)
above.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of this Agreement, the term &#147;<B>Permitted Leakage</B>&#148; means:</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any payments made by any Group Company to the Seller or any Related Person on
arm&#146;s length terms in the ordinary course of trading, in each case as described in
Section&nbsp;10.3(a) of the Disclosure Letter, but excluding for the avoidance of doubt any
payments of principal with respect to intercompany loans or financings set forth in
Section&nbsp;10.3(a) of the Disclosure Letter other than those for which provision is made
in Clause 10.3(c);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Transaction Expenses up to a maximum of &#128;1,000,000;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any distribution (cash or non-cash) or payment or transfer of assets to the
Seller or any Related Person or assumption by any Group Company of any liabilities of
the Seller or any Related Person or any repayment of debt or payment by any Group
Company of Tax due by the Seller or any Related Person in the manner set out in clause
5.2, in each case only to the extent such action is set out in the PWC Memo as an
action to be taken by a Group Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the payments set forth in Section&nbsp;10.3(d) of the Disclosure Letter.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purposes of this Agreement, the term &#147;<B>Related Persons</B>&#148; means, with respect to the
Seller:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the other members of the Seller Group (other than the Group Companies);
provided, however, that a company which is owned by Doughty Hanson &#038; Co group
separately from its interest in the Seller shall be excluded and therefore not be
deemed a Related Person; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the direct and indirect shareholders of the Seller acting in such capacity;
provided, however, that investors in any fund which holds shares in any such legal
entity shall be excluded and therefore not be deemed a Related Person.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>USE OF NORIT NAME</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser undertakes to the Seller for itself and as trustee for each member of the
Seller&#146;s Group following Completion to procure that, as soon as reasonably practicable after
the Completion Date and in any event within 1&nbsp;month after the Completion Date, the name of any
member of the Purchaser&#146;s Group which consists of or incorporates the word &#147;Norit&#148; (or
anything which, in the reasonable opinion of the Seller, is substantially or confusingly
similar to &#147;Norit&#148;) is changed to a name which does not include &#147;Norit&#148; or anything
substantially or confusingly similar thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With effect from Completion, the Seller will cause Norit International N.V. to grant to the
Purchaser&#146;s Group the royalty-free right to (a)&nbsp;use, sell and distribute any products,
packaging, promotional and advertising materials, letterhead, stationary, business cards and
other personal property that bears the &#147;Norit&#148; name and/or corporate logo to the extent that
such items (i)&nbsp;are owned by the Group Companies as of the Completion Date, or (ii)&nbsp;were used
by the Group Companies prior to the Completion Date and cannot be ordered or acquired by the
Group Companies without such name or logo without unreasonable cost or delay; (b)&nbsp;manufacture
and sell products bearing the &#147;Norit&#148; name and/or corporate logo to the extent that the
molding and tooling used at the Completion by the Group Companies in the manufacture of such
products has the &#147;Norit&#148; name and/or corporate logo embedded; and (c)&nbsp;manufacture and sell
products bearing the &#147;Norit&#148; name and/or corporate logo under any Contract with any third
party in effect as of the Completion Date which contains specifications requiring products
manufactured and/or sold</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>thereunder to bear the &#147;Norit&#148; name and/or corporate logo (the &#147;<B>Licences</B>&#148;). The rights of
the Purchaser&#146;s Group under the Licences shall terminate: (1)&nbsp;18&nbsp;months after the Completion
Date in the case of subclause (a); (2)&nbsp;three years after the Completion Date in the case of
subclause (b); and (3)&nbsp;after the expiration of the term of such Contract and any obligation
to provide replacement products under such Contract in the case of subclause (c).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>TAX AFFAIRS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties acknowledge that the Dutch Group Companies (except for Filtrix BV) formed part of
a fiscal unity (<I>fiscale eenheid</I>) of which Norit NV was the parent company for Dutch corporate
income tax purposes up to and including 4 January&nbsp;2010 (the &#147;<B>Norit NV Fiscal Unity</B>&#148;).
Following the partial termination of the Norit NV Fiscal Unity, Norit NV and each other member
of the Norit NV Fiscal Unity (including the Dutch Group Companies except for Filtrix BV) will
remain jointly and severally liable for any Dutch corporate income tax due by the Norit NV
Fiscal Unity relating to the period up to and including 4 January&nbsp;2010. However,
notwithstanding the foregoing, the Seller shall indemnify and hold harmless the Dutch Group
Companies from and against all Liabilities or Taxes asserted against, imposed upon or incurred
by any such Dutch Group Company, directly or indirectly, arising out of or resulting from any
Dutch corporate income tax due by the Norit NV Fiscal Unity relating to the period up to and
including 4 January&nbsp;2010 that is attributable to the Seller&#146;s Group. Further, notwithstanding
the foregoing, the Purchaser shall indemnify and hold harmless the Seller and its Related
Parties from and against all Liabilities or Taxes asserted against, imposed upon or incurred
by Seller or to Related Parties, directly or indirectly, arising out of or resulting from any
Dutch corporate income tax due by the Norit NV Fiscal Unity relating to the period up to and
including 4 January&nbsp;2010 that is attributable to the Dutch Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Norit NV shall prepare and file with the Dutch Tax Authority a 2010 corporate income tax
return on behalf of the Dutch Group Companies (except for Filtrix BV) for the period from 1
January&nbsp;2010 up to and including 4 January&nbsp;2010 as part of the 2010 corporate income tax
return of the Norit NV Fiscal Unity. An agreement has been reached with the Dutch Tax
Authority that no Dutch taxable income generated by the Dutch Group Companies (except for
Filtrix BV) shall be allocated to the Dutch Group Companies for this period. As agreed with
the Dutch Tax Authority, the Company shall procure that any taxable income relating to the
period from 1 January&nbsp;2010 up to and including 4 January&nbsp;2010 for all Dutch Group Companies
(other than Filtrix BV) shall be included in the 2010 corporate income tax return of the
fiscal unity of which the Company is the parent company as from 5 January&nbsp;2010.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As any corporate income tax assessment for the period whilst the Dutch Group Companies
(except for Filtrix BV) were included in the Norit NV Fiscal Unity was in place will be
addressed to Norit NV, the Seller agrees to procure that Norit NV and/or the Seller notify the
Purchaser, and the Purchaser agrees to procure that Norit NV and the Seller are notified and
kept informed about the commencement and conduct of any Tax audits undertaken in respect of
any of the Dutch Group Companies after Completion in respect of the fiscal periods where the
Norit NV Fiscal Unity was in place. Norit NV shall be given the opportunity to participate at
its own cost in any such audit process relating to the Group Companies, and in the
determination of the nature and manner in which information is provided to the Tax Authority.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Norit NV and the Seller will maintain the records relating to the corporate income tax
returns of the Norit NV Fiscal Unity (and any former fiscal unity of which any Dutch Group
Company was a member) for the periods prior to Completion for a period of 7&nbsp;years from
Completion. The Seller will for a period of 7&nbsp;years from Completion following a written
request by the Purchaser</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provide to the Purchaser such information contained in those records as is reasonably needed
to enable the Purchaser to prepare the corporate income tax returns of the Group Companies,
to lodge appeal proceedings (<I>bezwaar &#151; en beroepschriften</I>) in relation to any Tax assessment
and to answer questions from the Tax Authority relating to periods prior to Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall immediately prior to Completion notify the Dutch Tax Authority that as from
the Completion Date the Dutch Group Companies no longer form part of a fiscal unity with the
Seller&#146;s Group for Dutch VAT purposes and shall provide the Purchaser with a copy of such
notification. The Seller shall indemnify and hold harmless the Dutch Group Companies from and
against all Liabilities or Taxes asserted against, imposed upon or incurred by any such Dutch
Group Company, directly or indirectly, arising out of or resulting from any Dutch VAT due by
the fiscal unity with the Seller&#146;s Group for Dutch VAT purposes relating to the period up to
and including the date such notification is provided to the Dutch Tax Authority that is
attributable to the Seller&#146;s Group. The Purchaser shall indemnify and hold harmless the
Seller and its Related Parties from and against all Liabilities or Taxes asserted against,
imposed upon or incurred by any such Seller or its Related Parties, directly or indirectly,
arising out of or resulting from any Dutch VAT due by the fiscal unity with the Seller&#146;s Group
for Dutch VAT purposes relating to the period up to and including the date such notification
is provided to the Dutch Tax Authority that is attributable to the Dutch Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Norit NV and the Seller will maintain the records relating to the Dutch VAT returns for the
periods prior to Completion for a period of 7&nbsp;years from Completion. The Seller will for a
period of 7&nbsp;years from Completion following written request by the Purchaser provide to the
Purchaser such information contained in those records as is reasonably needed to enable the
Purchaser to answer questions from the Dutch Tax Authority relating to the periods prior to
Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall for a period of 7&nbsp;years from Completion provide to the Purchaser such
records and information (by way of copy if not in the original) as reasonably requested to
undertake the financial and Tax administration of the Group Companies, except for the records
relating to the corporate income tax returns of the Norit NV Fiscal Unity and the other former
fiscal unities in which the Dutch Group Companies were included which shall be retained by the
Seller. The Purchaser will following a written request by the Seller provide to the Seller
such information contained in those records as is reasonably needed to enable the Seller to
answer questions from any Tax Authority in respect of matters relating to the period prior to
Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party shall provide any information requested under this Clause 12 as soon as reasonably
practicable after receipt of any written request.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.9</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall reimburse to the Purchaser (or if the Purchaser directs, to a Group Company)
any Dutch Tax receivable by the Dutch Group Companies that is credited (<I>verrekend</I>) by the
receiver (<I>ontvanger</I>) against a Dutch Tax liability of Norit NV, the Seller, the Seller&#146;s Group
immediately following Completion or any Affiliate of the Seller in respect of the period where
the Group Companies formed part of the Norit NV Fiscal Unity on the basis of article 24 of the
Dutch Collection Act 1990 (<I>Invorderingswet 1990</I>).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.10</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall reimburse to Norit NV (or if the Seller directs, to another member of
the Seller&#146;s Group) any Dutch Tax receivable by Norit NV, the Seller, the Seller&#146;s Group
immediately following Completion or any Affiliate of the Seller that is credited (<I>verrekend</I>)
by the receiver (<I>ontvanger</I>) against a Dutch Tax liability of the Dutch Group Companies in
respect of the period where the Group Companies formed part of the Norit NV Fiscal Unity on
the basis of article 24 of the Dutch Collection Act 1990 (<I>Invorderingswet 1990</I>).</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.11</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties shall cease to have any liability under Clause 12.9 or Clause 12.10 above on the
date on which the applicable statute of limitations expires with respect to such matters.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.12</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The members of the Group (other than the Company) shall be third party beneficiaries of the
indemnity provided by the Seller in clause 12.1 and 12.5 and the Related Parties of the Seller
(other than any member of the Group) shall be third party beneficiaries of the indemnity
provided by the Purchaser in clauses 12.1 and 12.5 provided that the Company (on behalf of the
other members of the Group) and the Seller (in respect of its Related Parties) shall be able
to vary, release or otherwise forgive the rights of the third party beneficiaries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>LIABILITY STATEMENT</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser acknowledges and agrees that, prior to or immediately after the Completion
Date, the Seller and/or any member of the Seller&#146;s Group shall withdraw the statements of
joint liability issued under article 2:403 of the Dutch Civil Code (&#147;<B>DCC</B>&#148;), in whatever
form, relating to any of the Group Companies and shall file a statement in respect of
article 2:404 DCC to terminate any residual liability in this respect. For a period of 2
months following the filing of the statement and the publication thereof in accordance with
article 2:404 sub 3 paragraph b and sub 3 paragraph c DCC or so much longer as any
objections by a creditor might be pending as referred to in article 2:404 sub 3 paragraph d
DCC , and with respect to any claim resulting from an obligation as referred to in article
2:404 sub 2 DCC brought between Completion and the end of the period following from article
2:404 sub 3 DCC for as long as such claim is pending, the Purchaser shall indemnify, defend
and hold the Seller and its Affiliates harmless from and against (a)&nbsp;any liability, cost and
penalty resulting for the Seller from any claims made by third parties under any liability
statements in connection with article 2:403 sub 1 paragraph f DCC; and (b)&nbsp;any residual
liability as referred to in article 2:404 DCC (in whatever form). Furthermore, upon a
request from the Seller, the Purchaser shall immediately provide such reasonable security as
required by article 2:404 sub 4 DCC if such is requested by a creditor pursuant to article
2:404 sub 5 DCC, the aforementioned only insofar such creditor has not sufficient securities
that its claims will be satisfied. To avoid any doubts, the aforementioned will not affect
any of the Seller Warranties given by the Seller or the Company Warranties given by the
Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>BOOKS AND RECORDS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall and shall procure that the Group Companies shall retain for a period of 7
years from Completion, or such longer period as may be prescribed by applicable Law, all
books, records and other written information relating to the Group Companies or their assets,
liabilities and or business delivered to the Purchaser in connection with the consummation of
the transactions contemplated by this agreement or held by the Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall retain for a period of seven (7)&nbsp;years from Completion, or such longer
period as may be prescribed by applicable Law, all books, records and other written
information relating to the Group Companies or their assets, liabilities and or business not
otherwise delivered to the Purchaser in connection with the consummation of the transactions
contemplated by this Agreement or held by the Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party shall, and the Purchaser shall procure that the Group Companies shall, allow the
other Parties and their Representatives upon reasonable written notice and at the notifying
Party&#146;s expense, reasonable access during normal business hours to such books, records and
other information related to the Group Companies, including the right to inspect and take
copies, as may be reasonably required by such Party in order to enable such Party to comply
with its</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>statutory and contractual obligations, including its obligations under this Agreement,
provided that any such access will be conducted under the supervision of personnel of the
other Parties and in such a manner as not to interfere unreasonably with the normal
operation of the business of the other Parties or, in the case of the Purchaser, the Group
Companies, as the case may be.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the extent any such access may result in the disclosure of Confidential Information, the
Party receiving such Confidential Information shall in that respect be subject to the
restrictions set forth in Clause 18 and the other Parties may require such Party and/or its
Representatives to enter into customary confidentiality undertakings at such time as any
access is provided in accordance with this Clause 14.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NON-SOLICITATION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller covenants with the Purchaser for itself (and as trustee for each Group Company)
that it shall not, and shall procure that no member of the Seller&#146;s Group following Completion
shall, directly or indirectly for a period of 2&nbsp;years from Completion, induce or attempt to
induce any director (other than a director resigning at Completion) or Senior Employee of a
Group Company to leave the employment of or relationship with that Group Company or enter into
any employment or services agreement with the Seller or any member of the Seller&#146;s Group.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser covenants with the Seller for itself (and as trustee for each member of the
Seller&#146;s Group) following Completion that it shall not, and shall procure that no Group
Company or Affiliate of the Purchaser shall, directly or indirectly for a period of 2&nbsp;years
from Completion, induce or attempt to induce any director (other than a director resigning at
Completion), or Senior Employee of a member of the Seller&#146;s group following Completion to
leave the employment of or relationship with that member of the Seller&#146;s Group or enter into
any employment or services agreement with the Purchaser or an Affiliate of the Purchaser.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The restrictions in Clause 15.1 and Clause 15.2 shall not restrict:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the placing or procuring the placing of any bona fide recruitment
advertisement for employees and communicating with or recruiting, employing or
otherwise contracting with any person who, unsolicited by or on behalf of the other
Party, responds to such advertisement; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any employment by Norit Nederland B.V. of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>personnel currently employed by Norit India Private Limited
pursuant to the terms of the Norit India Distributorship Agreement; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>personnel currently employed by Norit Purification Systems
(Shanghai) Co. Ltd. pursuant to the terms of the NPS Agent and Distribution
Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NON-COMPETITION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller hereby covenants and agrees that during the period from the Completion Date until
the third anniversary of the Completion Date (the &#147;<B>Restriction Period</B>&#148;), the Seller shall not
(and shall cause its Affiliates not to), directly or indirectly (including by means of
licensees, subcontractors, distributors, agents or other representatives), (a)&nbsp;engage in,
continue in or carry on any business that competes in any aspect of a Competitive Business, or
(b)&nbsp;consult with, advise or assist in any way, whether or not for consideration, any
competitor of the Group Companies in</TD>
</TR>


</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any aspect of a Competitive Business, including advertising or otherwise endorsing the
products or services of any such competitor, soliciting customers or otherwise serving as an
intermediary for any such competitor or loaning money or rendering any other form of
financial assistance to any such competitor; provided, however, that the foregoing shall not
prohibit the ownership of not more than three percent (3%) of the securities of any
corporation or other entity that is listed on a national securities exchange or traded in
the national over-the-counter market. The geographic scope of this covenant not to compete
shall extend throughout the world. The Purchaser may sell, assign or otherwise transfer
this covenant not to compete, in whole or in part, to any person or entity that purchases
all or any portion of a Competitive Business. Recognising the specialized nature of the
Competitive Business, the Seller acknowledges and agrees that the duration, geographic scope
and activity restrictions of this covenant not to compete are reasonable. For the avoidance
of doubt, nothing in this Clause 16 shall preclude or restrict (i)&nbsp;the distribution and sale
(as an agent or as a distributor) of products by the Seller or any of its Affiliates or (ii)
the incorporation of products not manufactured by the Seller or its Affiliates, in each case
in respect of carbon dosing systems and fixed-bed activated carbon filters sold by the
Seller or its Affiliates.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The restrictions in Clause 16.1 shall not apply (or as the case may be shall cease to apply)
in so far and to the extent that the Seller or any of its Affiliates after Completion acquires
any company or business and, as a result of that acquisition, acquires a company or business
which falls within the terms of Clause 16.1 as a result of subclause (d)&nbsp;of the definition of
Competitive Business (a &#147;<B>Relevant Interest</B>&#148;); provided that the Relevant Interest (i)
represents less than twenty percent (20%) of the total consolidated turnover of the company or
business being acquired. For the avoidance of doubt, the forgoing exception in this Clause
16.2 to the restrictions in Clause 16.1 shall not apply to the acquisition of a company or
business which falls within the terms of Clause 16.1 as a result of subclauses (a), (b)&nbsp;or (c)
of the definition of Competitive Business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The restrictions in Clause 16.1 shall not apply to any person or entity (an &#147;<B>Acquiror</B>&#148;) who,
following Completion, acquires the Seller if the Acquiror (independent of the Seller&#146;s Group)
conducts a Competitive Business as of the date of such acquisition; provided that the Seller
shall, and shall cause its Affiliates to, treat as strictly confidential and not disclose to
or use for the benefit of the Acquiror or any of its Affiliates (other than the Seller and its
Affiliates) any Confidential Information (as defined below) of the Group.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At Completion, the Seller shall cause each of the Noncompete Parties to execute and deliver
to the Purchaser a noncompete agreement containing a covenant not to compete substantially
similar to that set forth in Clause 16.1 (the &#147;<B>Noncompete Agreements</B>&#148;); provided, however,
that the term of such noncompete agreement shall be two years for those individuals listed in
Section&nbsp;1.1(b) of the Disclosure Letter. For the purposes of the Noncompete Agreement to be
entered into between the Purchaser and DHCV, Affiliates of DHCV shall not include any Doughty
Hanson &#038; Co entities or portfolio companies of funds managed by Doughty Hanson &#038; Co Managers
Limited other than Doughty Hanson &#038; Co V Limited in its capacity as general partner of the
limited partnerships known as Doughty Hanson &#038; Co V LP No.&nbsp;1 and Doughty Hanson &#038; Co V LP No.
2.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ANNOUNCEMENTS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties hereby agree to the release of the Press Announcements promptly following the
execution of this Agreement.</TD>
</TR>




</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save for the Press Announcements (and any announcement that is consistent in all material
respects with the Press Announcementsor any other announcement made in accordance with this
Clause 17) and subject to Clause 17.3, no public announcement concerning the existence or
subject matter of this Agreement shall be made by any Party without the prior written approval
of the Purchaser in the case of any announcement by the Seller, or the Seller in the case of
any announcement by the Purchaser or the Guarantor, in each case with such approval not to be
unreasonably withheld or delayed.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Party may make an announcement concerning the existence or the subject matter of this
Agreement if required by:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any applicable Law; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any securities exchange or Governmental Authority to which that Party is
subject or submits, wherever situated,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provided that it shall to the extent permitted by Law or such securities exchange or
Governmental Authority have first: (i)&nbsp;given notice to the Purchaser (in the case of any
proposed announcement by the Seller) or the Seller (in the case of any proposed announcement
by the Purchaser or the Guarantor), of its intention to make such an announcement; and (ii)
taken all such steps as may be reasonable and practicable in the circumstances to agree the
contents of such announcement with the Purchaser (in the case of any proposed announcement
by the Seller) or the Seller (in the case of any proposed announcement by the Purchaser or
the Guarantor), before making such announcement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The restrictions contained in this Clause 17 shall continue to apply after termination of
this Agreement without limit in time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>CONFIDENTIALITY</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to Clauses 18.3 and 18.5, each Party shall, and shall cause its Affiliates to, treat
as strictly confidential and shall not disclose to any other person any information received
or obtained as a result of entering into or performing this Agreement which relates to the
existence of this Agreement, the provisions of this Agreement, the negotiations and subject
matter of this Agreement and the other Parties (&#147;<B>Confidential Information</B>&#148;) (including written
information and information transferred or obtained orally, visually, electronically or by any
other means). In the case of Seller and its Affiliates, information regarding the Group
Companies shall also be considered &#147;Confidential Information.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event of the termination of this Agreement pursuant to Clause 3.9 or Clause 5.4(a),
each Party shall at its own expense, within seven days of such termination:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>return, or cause to be returned, all written data or information referred to
in Clause 18.1 provided to it and all copies thereof without keeping any copies
thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>destroy, or cause to be destroyed, all analyses, compilations, notes,
studies, memoranda or other documents prepared by it to the extent that the same
contain, reflect or derive from data or information referred to in Clause 18.1 save as
required to comply with any Law or the requirements of any Governmental Authority; and</TD>
</TR>




</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>so far as it is practicable to do so (but, in any event without prejudice to
the obligations of confidentiality contained herein), expunge, or cause to be
expunged, any data or information referred to in Clause 18.1 relating to each other
Party from any computer, word processor or other device save such information as is
reasonably necessary to protect the legal rights of the Parties.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Party may disclose information which would otherwise be subject to the provisions of Clause
18.1, and may retain information referred to in Clause 18.2, if and to the extent:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is required by applicable Law to which such Party is subject;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is an announcement made in accordance with the provisions of Clause 17;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is required by any securities exchange or Governmental Authority to which
any Party is subject or submits, wherever situated, whether or not the requirement for
information has the force of law;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is disclosed on a strictly confidential basis to the professional
advisers, auditors and bankers of that Party;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the extent relevant, it is disclosed on a strictly confidential basis to
directors and/or employees of that Party, to its Affiliates or to directors and/or
employees of its Affiliates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>other than in the case of Seller with respect to information regarding the
Group Companies, it was lawfully in its possession or in the possession of any of its
Affiliates or Representatives (in either case as evidenced by written records) free of
any restriction as to its use or disclosure prior to it being so disclosed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the information has come into the public domain through no fault of that
Party or any of its Affiliates or Representatives;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that the Seller (in relation to disclosure by the Purchaser or the Guarantor)
or the Purchaser (in relation to disclosure by the Seller) has given prior written
consent to the disclosure; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is required to enable that Party to perform this Agreement or enforce its
rights under this Agreement and/or disclosure is required for the purposes of any
Proceedings;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and provided that to the extent permitted by applicable Law or such securities exchange or
Governmental Authority any information to be disclosed in reliance on paragraphs 18.3 (a)&nbsp;or
(c)&nbsp;shall be disclosed only after consultation with the Purchaser (in the case of intended
disclosure by the Seller or the Guarantor) or the Seller (in the case of intended disclosure
by the Purchaser or the Guarantor) and the Party intending to disclose the confidential
information shall take into account, and to the extent possible, not take any action in
contravention of, the reasonable comments or requests of such other Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each of the Parties hereby agrees that it shall not use Confidential Information for any
purpose other than in relation to the proper performance of its obligations and exercise of
its rights under this Agreement (and the transactions contemplated hereby) or in connection
with the business of the Group Companies.</TD>
</TR>




</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each of the Parties undertakes that it shall, and shall procure that its Affiliates shall,
only disclose Confidential Information to any of its Representatives if it is reasonably
required for purposes connected with this Agreement (or the other Transaction Documents) and
only if the Representative is informed of the confidential nature of the Confidential
Information and accepts equivalent restrictions to those accepted by the Party who discloses
the information.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The restrictions contained in this Clause 18 shall continue to apply for 24&nbsp;months following
termination of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without prejudice to any other rights or remedies that the Parties may have, the Parties
acknowledge and agree that damages alone would not be an adequate remedy for any breach by
them of this Clause 18 and that the remedies of injunction and specific performance as well as
any other equitable relief for any threatened or actual breach of this Clause 18 by any Party
would be more appropriate remedies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Clause 18 supersedes the confidentiality agreement dated 4 January&nbsp;2011 between the
Seller and the Guarantor which shall cease to have any further effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.9</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Seller acknowledges that the Guarantor will file this Agreement with the United States
Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K, pursuant to
which this Agreement will become publicly available.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NOTICES</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice or other communication to be given under or in connection with this Agreement (a
&#147;<B>Notice</B>&#148;) shall be:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in writing in the English language;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>signed by or on behalf of the Party giving it; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>delivered personally by hand or courier (using an internationally recognised
courier company) or by facsimile, to the Party due to receive the Notice, to the
address and for the attention of the relevant Party set out in this Clause 19 (or to
such other address and/or for such other person&#146;s attention as shall have been
notified to the giver of the relevant Notice and become effective (in accordance with
this Clause 19) prior to dispatch of the Notice).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the absence of evidence of earlier receipt, any Notice served in accordance with Clause
19.1 shall be deemed given and received:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of personal delivery by hand or courier, at the time of delivery
at the address referred to in Clause 19.4; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of facsimile, when confirmation of its successful transmission
has been recorded by the sender&#146;s fax machine.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purposes of this Clause 19:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all times are to be read as local time in the place of deemed receipt; and</TD>
</TR>




</TABLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if deemed receipt under this Clause is not within business hours (meaning
9.00am to 5.30pm Monday to Friday on a day that is not a public holiday in the place
of receipt), the Notice is deemed to have been received at 10am on the next Business
Day in the place of receipt.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The addresses of the Parties for the purpose of this Clause 19 are as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Norit Holding B.V.<br>
Nijverheidsweg-Noord 72<br>
P.O. Box 105<br>
3800 AC Amersfoort<br>
The Netherlands</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Tel: &#043;31 (0)&nbsp;33 4648 911<br></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fax: &#043;31 (0)&nbsp;33 4617 429</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With a copy (which shall not constitute, or be essential for valid, notice) to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Graeme Stening<br>
General Counsel<br>
Doughty Hanson &#038; Co<br>
45 Pall Mall<br>
London SW1Y 5JG<br>
UK</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;44 (0)&nbsp;207 663 9484<br>
Fax: &#043;44 (0)&nbsp;207 663 9354</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>And to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Allan Murray-Jones<br>
Skadden, Arps, Slate, Meagher &#038; Flom (UK)&nbsp;LLP<br>
40 Bank Street<br>
Canary Wharf<br>
London E14 5DS</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;44 (0)&nbsp;207 519 7199<br>
Fax: &#043;44 (0)&nbsp;207 072 7199</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>And to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Wybrand Beugelink<br>
N International B.V.<br>
Hertmerweg 42C<br>
7625 RH Zenderen<br>
The Netherlands</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;31 74 255 07 77<br>
Fax: &#043;31 74 255 07 79</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>And to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Bernard ten Doeschot<br>
Euroland Purification II B.V.<br>
P.O. BOX 92<br>
7620 AB Borne<br>
The Netherlands</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;31 74 255 07 60<br>
Fax: &#043;31 74 255 07 69</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Angela D. Lageson<br>
Senior Vice President, General Counsel and Secretary<br>
c/o Pentair, Inc.<br>
5500 Wayzata Blvd., Suite&nbsp;800<br>
Golden Valley, MN 55416-1259</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;1 (763)&nbsp;545-1730<br>
Fax: &#043;1 (763)&nbsp;656-5403</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With a copy (which shall not constitute, or be essential for valid, notice) to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Benjamin F. Garmer, III<br>
John K. Wilson<br>
Foley &#038; Lardner LLP<br>
777 East Wisconsin Avenue<br>
Milwaukee, WI 53202-5306</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;1 (414)&nbsp;271-2400<br>
Fax: &#043;1 (414)&nbsp;297-4900</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Guarantor:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Angela D. Lageson<br>
Senior Vice President, General Counsel and Secretary<br>
Pentair, Inc.<br>
5500 Wayzata Blvd., Suite&nbsp;800<br>
Golden Valley, MN 55416-1259</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;1 (763)&nbsp;545-1730<br>
Fax: &#043;1 (763)&nbsp;656-5403</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With a copy (which shall not constitute, or be essential for valid, notice) to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Benjamin F. Garmer, III<br>
John K. Wilson<br>
Foley &#038; Lardner LLP<br>
777 East Wisconsin Avenue<br>
Milwaukee, WI 53202-5306</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telephone: &#043;1 (414)&nbsp;271-2400<br>
Fax: &#043;1 (414)&nbsp;297-4900</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In proving service it shall be sufficient to prove that the envelope containing the notice or
communication was properly addressed and delivered to the address shown thereon, or that the
facsimile containing the notice or communication was transmitted to the fax number of the
relevant Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a Party can reasonably assume that the person for whose attention a Notice is marked in
relation to another Party, or a director of such another Party, is aware that such a Notice
has been given, such Notice shall be deemed to be validly given from the time at which such
person had that awareness.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any Party may notify the other Parties of any change to its name, address or facsimile number
for the purpose of this Clause 19, provided that such notice shall be sent to each of the
other Parties and shall only be effective on:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date specified in the notice as the date on which the change is to take
effect; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if no date is so specified or the date specified is less than three Business
Days after which such notice was given (or deemed to be given), the fourth Business
Day after the notice was given or deemed to be given.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A notice or other communication required to be given under or in connection with this
Agreement shall not be validly given if sent by email.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.9</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Clause shall not apply to the service of, or any step in, Proceedings.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>POST COMPLETION UNDERTAKINGS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties acknowledge that Norit Marssteden B.V. (&#147;<B>NMBV</B>&#148;) has at the date of this Agreement
an issued and outstanding share capital of &#128;18,001, divided into 18,001 ordinary</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>shares with a par value of &#128;1.00 each, of which 18,000 shares are currently held by the
Company and 1 share is currently held by N International B.V. (formerly Norit International
B.V.). The Parties agree and acknowledge that all of the assets and liabilities of NMBV
relate to the business of the Group.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties agree that as soon as reasonably practicable following Completion, the Purchaser
shall procure that NMBV transfers all of its (non-cash) assets and all liabilities to the
Company against payment by the Company of a purchase price of &#128;1 by executing a sale and
purchase agreement and transfer documents in the Agreed Form (the &#147;<B>NMBV Asset Sale</B>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser, the Guarantor and the Company shall take all reasonable steps (which in the
case of the Purchaser, Company and the Guarantor shall include the provision of security
reasonably requested) to procure the consent of FGH Bank N.V. (&#147;<B>FGH</B>&#148;) with respect to the
transfer of a 99% interest in Purification Valley C.V (&#147;<B>Interest</B>&#148;) and the liability for the
associated finance lease to the Company, and from Completion the Company will be liable for,
and will hold the Seller and its subsidiaries and associated companies indemnified against any
and all claims under the finance lease or in respect of the Interest. The Seller shall provide
reasonable assistance to the Purchaser, the Guarantor and the Company in procuring such
consent and shall lead the discussions with FGH. At Completion, the Seller shall pay to the
Company or to the Purchaser (as the Purchaser requests) as one lump sum payment one half of
the waiver fee payable to FGH to agree to the transfer of the Interest as well as one half of
the cost of any additional margin charged by FGH from the date the increase in margin takes
effect until 1 March&nbsp;2014.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties agree that, promptly following completion of the NMBV Asset Sale, the Purchaser
shall procure that the Company sells and transfers, and the Seller shall procure that Norit
International N.V (formerly Norit N.V). purchases and accepts, all of the issued and
outstanding shares in the capital of NMBV at a purchase price of &#128;18,101, through execution of
a sale and purchase agreement and transfer documents in the Agreed Form.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall indemnify and hold harmless the Purchaser and its Affiliates (including the
Group Companies), and their respective shareholders, directors, officers, employees, agents
and other representatives, from and against (a)&nbsp;the amount of all Taxes (net of all Tax
benefits) asserted against, imposed upon or incurred by any such person or entity, directly or
indirectly, arising out of or resulting from the Pre Sale Reorganisation or the actions to be
taken by the Parties pursuant to Clauses 20.1, 20.2, 20.3 and 20.4, which indemnifiable amount
shall not be reduced through the use or application of any Tax attribute of any Group Company
existing at the date of this Agreement but may be otherwise reduced to the extent any Tax
attribute of Seller&#146;s Group (other than the Group Companies) is set off against Tax, and (b)
all Liabilities (other than for Taxes) asserted against, imposed upon or incurred by any such
person or entity, directly or indirectly, arising out of or resulting from (i)&nbsp;the Pre Sale
Reorganisation or any entity owned by a Group Company prior to the Pre Sale Reorganisation
that is not owned by a Group Company as a result of the Pre Sale Reorganisation, or (ii)&nbsp;the
actions to be taken by the Parties pursuant to Clauses 20.1, 20.2, 20.3 and 20.4, save in the
case of subclauses (i)&nbsp;and (ii)&nbsp;for Liabilities (other than for Taxes) asserted against,
imposed upon or incurred by any such person or entity as a direct result of any action that is
set out in the PWC Memo as an action to be taken by a Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At and following Completion, the Seller shall provide reasonable assistance to the Purchaser
and the Group Companies in the submission and pursuit of any insurance claims: (1)&nbsp;which arise
out of occurrences taking place prior to Completion and that are covered under any general
liability, excess liability or professional liability insurance policies maintained jointly on
behalf of the</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Seller and the Group Companies at any time prior to the Completion; or (2)&nbsp;that are covered
under any commercial property or marine cargo insurance policies (collectively, the
&#147;<B>Property Insurance Coverage</B>&#148;) maintained jointly on behalf of the Seller and the Group
Companies at any time prior to or following Completion and that continue to afford coverage
for losses incurred by the Group Companies. Following Completion, if Seller believes it is
reasonably necessary to retain the services of a third party, or otherwise enter into any
contract, to pursue any claim submitted pursuant to its obligations under this Clause 20.6,
it shall inform Purchaser of that fact. If Purchaser determines that such third party or
other contract is necessary, the Purchaser shall be responsible for the payment of all costs
associated therewith. Following Completion, the Seller shall continue to maintain, and make
available to the Purchaser on reasonable request, full and complete copies of all insurance
policies and their related loss histories up to Completion, under which the Seller&#146;s
obligations to submit and pursue claims may be triggered under this Clause 20.6.
Additionally, with respect to the Property Insurance Coverage, the Seller will after
Completion use commercially reasonable efforts to ensure that the Purchaser is added as a
loss payee for any covered losses to extent of the Purchaser&#146;s interests in the Group
Companies following the Completion. Nothing in this Clause 20.6 shall require the Seller to
renew any insurance policy referred to above so as to be available after Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall indemnify the Purchaser and each member of the Group against any claim, loss
or expense incurred or suffered by such Group Member in respect of any guarantee, bond or
security of any kind issued or undertaken by any such Group Member for the benefit of the
Seller or any Related Parties (other than the members of the Group) to the extent such
guarantee, bond or security is not released at Closing.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall indemnify the Seller and each of its Related Parties for any claim, loss
or expense incurred or suffered by the Seller or any Related Parties in respect of any
guarantee, bond or security of any kind issued or undertaken by the Seller or a Related Party
for the benefit of any Group Member to the extent such guarantee, bond or security is not
released at Closing.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.9</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The members of the Group (other than the Company) shall be third party beneficiaries of the
indemnity provided in clause 20.7 and the Related Parties of the Seller (other than any member
of the Group) shall be third party beneficiaries of the indemnity provided in clause 20.8
provided that the Company (on behalf of the other members of the Group) and the Seller (in
respect of its Related Parties) shall be able to vary, release or otherwise forgive the rights
of the third party beneficiaries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>GUARANTEE</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Guarantor as primary obligor unconditionally and irrevocably:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>guarantees by way of continuing guarantee to the Seller the due and punctual
performance by the Purchaser of its obligations under or pursuant to this Agreement
and each other Transaction Document;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>agrees that if and each time that the Purchaser fails to make any payment
when it is due under or pursuant to this Agreement or any other Transaction Document,
the Guarantor shall on demand (without requiring the Seller first to take steps
against the Purchaser or any other person) pay that amount to the Seller or as
directed by the Seller.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each payment to be made by the Guarantor under this Clause shall be made in the currency in
which the relevant amount is payable by the Purchaser, and shall be made in full without any
set-</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>off, restriction, condition or counterclaim and free and clear of all deductions or
withholdings of any kind.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Guarantor&#146;s obligations under this Clause shall not be affected by any matter or thing
which but for this provision might operate to affect or prejudice those obligations, including
without limitation:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any time, waiver, consent or indulgence granted to, or composition with, the
Purchaser or any other person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the taking, variation, renewal or release of, or neglect to perfect or
enforce this Agreement, any other Transaction Document or any right, guarantee, remedy
or security from or against the Purchaser or any other person; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any unenforceability or invalidity of any obligation of the Purchaser, so
that this Clause shall be construed as if there were no such unenforceability or
invalidity; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any legal limitation, disability, incapacity or other circumstance relating
to the Purchaser or any other person; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the dissolution, amalgamation, reconstruction or insolvency of the Purchaser.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Guarantor agrees that until all sums payable by the Purchaser to the Seller under or
pursuant to this Agreement have been paid, it shall not exercise any rights which it might
have by reason of the performance of its obligations under this guarantee:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to be indemnified by the Purchaser;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>claim any contribution from any other guarantor of any of the Purchaser&#146;s
obligations under this Agreement; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to take the benefit (in whole or in part and whether by way of subrogation or
otherwise) of any rights of the Seller under this Agreement or any other security taken
by the Seller pursuant to, or in connection with, this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ASSIGNMENT</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Party may assign the benefit of this Agreement (in whole or in part) or transfer, declare
a trust of or otherwise dispose of in any manner whatsoever its rights and obligations under
this Agreement or sub contract or delegate its performance under this Agreement (each of the
above a &#147;<B>dealing</B>&#148;) without the prior written consent of all of the other Parties, such consent
to be at the absolute discretion of the other Parties to withhold.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser may effect a dealing to an Affiliate of the Guarantor without the prior written
consent of any other Party provided that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>written notice of such dealing is provided to the other Parties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the assignee ceases to be an Affiliate of the Guarantor all rights and
obligations under this Agreement shall be transferred back to the Purchaser; and</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>under no circumstances shall the assignee be entitled to greater payment
under the terms of this Agreement than that to which the Purchaser would have been
entitled had there been no assignment under this Clause 22.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any dealing or purported dealing in contravention of this clause shall be ineffective.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party that has rights under this Agreement is acting on its own behalf and not for the
benefit of another person.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>COSTS AND EXPENSES</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">23.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as otherwise expressly provided in this Agreement (including but not limited to Clause
10 (<I>No Leakage</I>)), each Party shall pay its own costs and expenses in relation to the
negotiations leading up to the sale of the Sale Shares and to the preparation, execution and
carrying into effect of this Agreement and all other documents mentioned herein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">23.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All stamp duty and other transfer Tax of any nature payable on or in respect of the transfer
of the Sale Shares shall be borne by the Purchaser provided that the Seller will reimburse the
Purchaser for one half of any German real estate transfer tax arising by reason only of such
transfer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>INVALIDITY</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If at any time any provision of this Agreement shall be held to be illegal, void, invalid or
unenforceable in whole or in part under any enactment or Law in any jurisdiction, then:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such provision shall:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the extent that it is illegal, void, invalid or
unenforceable be given no effect and shall be deemed not to be included in this
Agreement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not affect or impair the legality, validity or enforceability
in that jurisdiction of any other provision of this Agreement; or the legality,
validity or enforceability under the Law of any other jurisdiction of such
provision or any other provision of this Agreement; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Parties shall use all reasonable endeavours to replace such a provision
with a valid and enforceable substitute provision which carries out, as closely as
possible, the intentions of the Parties under this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>THIRD PARTY RIGHTS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">25.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as expressly set out above, the parties do not intend that any term of this Agreement
should be enforceable by any person (a &#147;<B>Third Party</B>&#148;) who is not a party to this Agreement by
virtue of the Contracts (Rights of Third Parties) Act 1999 or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">25.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the provisions of Clause 25.1 or any benefits conferred by this Agreement on
any third party by virtue of the Contracts (Rights of Third Parties) Act 1999, the Parties may
amend, vary, waive, terminate or rescind this Agreement at any time and in any way without the
consent of any Third Party.</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">26.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NOTARY</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Notary is a civil law notary with Houthoff Buruma, legal advisers to the Seller. The
Purchaser acknowledges that it is aware of the provisions of the Ordinance Containing Rules
of Professional Conduct and Ethics of the Royal Professional Organisation of Civil Law
Notaries. The Purchaser acknowledges and agrees that Houthoff Buruma may advise and act on
behalf of the Seller, Related Persons and their Affiliates with respect to this Agreement,
the Transaction Documents and/or any disputes related thereto or arising therefrom.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">27.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>FURTHER ASSURANCE</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without prejudice to any other provision of this Agreement, from time to time after the date
of this Agreement, upon request of any Party and without further consideration, each Party
shall execute and deliver to the requesting Party such documents and take such action as may
reasonably be requested by the requesting Party to consummate more effectively the intent
and purpose of the Parties under this Agreement and the transactions contemplated by this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">28.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>WHOLE AGREEMENT</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">28.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement together with each of the other Transaction Documents contain the whole and
only agreement between the Parties in relation to the transactions contemplated by this
Agreement and the Transaction Documents and supersede all previous agreements whether written
or oral between all or any of the Parties in relation to these transactions. Accordingly, all
other terms, conditions, representations, warranties and any other statements which would
otherwise be implied (by Law or otherwise) shall not form part of the Transaction Documents.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">28.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser acknowledges and agrees (for itself and on behalf of each other member of the
Purchaser&#146;s Group) with the Seller that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it and they do not rely on and have not been induced to enter into any of the
Transaction Documents on the basis of any Assurances (express or implied) other than
those expressly set out in this Agreement and the other Transaction Documents or, to
the extent that it or they have been, it and they irrevocably and unconditionally
agree that they shall have no rights or remedies in relation thereto and shall make no
claim in relation thereto or against such parties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>neither the Seller nor any member of the Seller&#146;s Group nor any member of the
Group, nor any of their respective Representatives, has given or made any Assurance to
the Purchaser or any other member of the Purchaser&#146;s Group or any of their respective
Representatives other than those expressly set out in this Agreement and the other
Transaction Documents or, to the extent that any of them have, the Purchaser hereby
(for itself and on behalf of each other member of the Purchaser&#146;s Group and such
Representatives) unconditionally and irrevocably waives any claim or remedy which it
or they might otherwise have had in relation thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any warranty or other right which may be implied by Law in relation to the
sale of the Sale Shares shall be excluded or, if incapable of exclusion, irrevocably
waived; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the only remedies available to it and them in respect of the Transaction
Documents are damages for breach of contract and, except as provided in Clauses 3.9
and 5.4, neither</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Purchaser nor the Guarantor shall have any right to rescind or terminate any
Transaction Document either for breach of contract (including any Seller Warranty
or Company Warranty) or for negligent or innocent misrepresentation or otherwise,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>PROVIDED THAT the provisions of this Clause 28.2 shall not exclude any liability which any
of the Parties or, where appropriate, their Representatives would otherwise have to any
other Party or, where appropriate, to any other Party&#146;s Representatives or any right which
any of them may have to rescind this Agreement or any Transaction Document in respect of any
statements made fraudulently by any of them prior to the execution of this Agreement or any
rights which any of them may have in respect of fraudulent misrepresentation by any of them.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">28.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without prejudice to the foregoing provisions of this Clause 28, the Purchaser acknowledges
and agrees that neither the Seller nor any member of the Seller&#146;s Group nor any member of the
Group nor their respective Representatives, makes nor has previously made any representation,
warranty or undertaking as to the accuracy of the forecasts, estimates, projections,
statements of intent or statements of opinion or any other information provided to the
Purchaser or any of its Representatives (howsoever provided) on or prior to the date of this
Agreement, including any such information contained in the Data Room or the Reports or other
materials provided at or in relation to the presentations by the Representatives of the Seller
and/or the management of the Group Companies to, and the related &#147;Q and A&#148; sessions with, the
Purchaser and/or its Representatives.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">29.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>VARIATION AND WAIVER</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">29.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No variation of this Agreement shall be effective unless it is in writing (which for this
purpose, does not include email) and signed by or on behalf of each of the Parties. The
expression &#147;<B>variation</B>&#148; shall, in each case, include any variation, supplement, deletion or
replacement however effected.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">29.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any waiver or any right or default hereunder shall be effective only in the instance given
and will not operate as or imply a waiver of any other or similar right or default on any
subsequent occasion. No waiver of this Agreement or of any provision hereof will be effective
unless in writing and signed by the Party against whom such waiver is sought to be enforced.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">29.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any delay by any Party in exercising, or failure to exercise, any right or remedy under this
Agreement shall not constitute a waiver of the right or remedy or a waiver of any other rights
or remedies and no single or partial exercise of any rights or remedy under this Agreement or
otherwise shall prevent any further exercise of the right or remedy or the exercise of any
other right or remedy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">30.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>COUNTERPARTS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">30.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may be executed in counterparts, and by the Parties on separate counterparts,
but shall not be effective until each Party has executed at least one counterpart. Each
counterpart shall constitute an original of this Agreement, but the counterparts shall
together constitute one and the same instrument.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">31.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>PAYMENTS AND NO SET-OFF</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">31.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to Clause 2.5, every amount payable under this Agreement by one Party to another
shall be made in full without any set-off or counterclaim howsoever arising and shall be free
and clear</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of deduction or withholding of any kind other than any deduction or withholding required by
Law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">31.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless otherwise expressly stated in this Agreement, all payments to be made under this
Agreement shall be made in euros to such account as the receiving Party directs by notice to
the paying Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">32.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>GOVERNING LAW AND JURISDICTION</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">32.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement and any dispute or claim (including non-contractual disputes or claims)
arising out of or in connection with it or its subject matter shall be governed by, and
construed in accordance with, English law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">32.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties irrevocably agree to submit to the exclusive jurisdiction of the courts of
England to settle any claim, dispute or difference (including non-contractual claims, disputes
or differences) which may arise out of or in connection with this Agreement or its subject
matter (including a dispute regarding the existence, validity, formation, effect,
interpretation, performance or termination of this Agreement) and that accordingly any
Proceedings be brought in such courts.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">32.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party waives (and agrees not to raise) any objection, on the ground of inconvenient
forum or on any other ground, to the bringing of Proceedings in the English courts.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">32.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party irrevocably agrees that a judgment or order against it in Proceedings brought in
England shall (provided there is no appeal pending or open) be conclusive and binding upon it
and may be enforced against it in the courts of any other jurisdiction.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">33.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>AGENT FOR SERVICE OF PROCESS</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">33.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party which is not a company incorporated in England and Wales shall at all times
maintain an agent for service of process in England. The Seller irrevocably appoints Doughty
Hanson &#038; Co Managers Limited of 45 Pall Mall, London SW1Y 5JG and the Purchaser irrevocably
appoints Eversheds LLP of 1 Wood Street, London EC2V 7WS, Attn: Robin Johnson (each such
entity or any replacement agent appointed pursuant to Clause 33.2 the &#147;<B>Agent</B>&#148;), as its agent
for such purpose.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">33.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without prejudice to any other permitted mode of service, each Party agrees that service of
any claim form, notice or other document for the purpose of any Proceedings begun in England
shall be duly served upon it if served on the Agent in any manner permitted by the Civil
Procedure Rules; provided that such service is simultaneously forwarded to the Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">33.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If for any reason the Agent appointed by any Party at any time ceases to act as such, the
Party shall promptly appoint another such agent and promptly notify the other Parties of the
appointment and the new agent&#146;s name and address. If the Party concerned does not make such an
appointment within 7 Business Days of such cessation, then any other Party may do so on its
behalf and shall notify the other Parties if it does so.</TD>
</TR>






</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->37<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>AS WITNESS </B>the hands of the parties or their duly authorised officers on the date first written on
page 1 of this Agreement.
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->38<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED BY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>NORIT HOLDING B.V.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">acting by
<BR>
<BR>
/s/ R.J.H.M. Kuipers<BR>
Managing Director A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)<br>
)<br>
)<br>
)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">s/ B.H.F. ten Doeschot
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Managing Director B
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED BY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>NORIT PROCES TECHNOLOGIE</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>HOLDING B.V.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">represented by its solely authorised
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Managing Director A
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Norit International N.V.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">acting by its management board:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ R.J.H.M. Kuipers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">R.J.H.M. Kuipers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ B.H.F. ten Doeschot
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">B.H.F. ten Doeschot
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ M. Knuttel
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">M. Knuttel
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED BY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>PENTAIR NETHERLANDS B.V.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">acting by
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Angela D. Lageson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Angela D. Lageson, Director B
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">acting as attorney authorised in writing
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED BY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>PENTAIR, INC.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">acting by
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Angela D. Lageson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Angela D. Lageson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Senior Vice President, General Counsel
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">and Secretary
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->39<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 1<BR>
THE COMPANY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->40<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 2<BR>
GROUP CHART</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->41<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 3<BR>
ACCOUNTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->42<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 4<BR>
TRANSFER DEED</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 5<BR>
COMPLETION</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>transfer the Purchase Price and pay or, with the assistance of the Seller
pursuant to the Debt Repayment Plan, procure payment by the Group Companies of the
Existing CPT Bank Debt Amount to the Notary&#146;s Account in accordance with Clause 2.4;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliver or procure delivery to the Seller of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an extract of the minutes of a duly held meeting of the
directors (or a duly constituted committee thereof) of the Purchaser and the
Guarantor authorising the execution by the Purchaser and the Guarantor of this
Agreement and each other Transaction Document to which they are a party and,
where such execution is authorised by a committee of the board of directors of
the Purchaser or the Guarantor (as the case may be), an extract of the minutes
of a duly held meeting of the directors constituting such committee or the
relevant extract thereof);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the letter of appointment of its Agent and the Guarantor&#146;s,
countersigned by the Agent acknowledging its appointment;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of any power of attorney under which any of
the foregoing documents are executed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consents to their appointment as directors of the Company and
the Subsidiaries from such persons as the Purchaser desires to appoint as
directors of such entities at Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>evidence to the Seller&#146;s reasonable satisfaction of fulfilment
of the Competition Condition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certificate signed by an officer of the Purchaser reasonably
acceptable to the Seller, in form and substance reasonably satisfactory to the
Seller, certifying, representing and warranting in such officer&#146;s capacity as
an officer, and not personally, that the conditions set forth in Clauses 3.2(a)
and 3.2(b) of the Agreement have been satisfied (except to the extent waived in
writing by the Seller); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Noncompete Agreements duly executed by the Purchaser.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliver or procure delivery to the Purchaser of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an extract of the minutes of a duly held meeting of the
directors (or a duly constituted committee thereof) of the Seller authorising
the execution by the Seller of this document and each other Transaction
Document to which it is party and any document to be delivered by the Seller at
or prior to Completion and, where such execution is authorised by a committee
of the board of directors of</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->44<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Seller, an extract of the minutes of a duly held meeting of the
directors constituting such committee or the relevant extract thereof);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the letter of appointment of its Agent, countersigned by the
relevant Agent acknowledging its appointment;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of any power of attorney under which any of
the foregoing documents are executed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the resignations of such persons as directors of the Company
and as directors of any Subsidiary as the Purchaser shall request at least five
Business Days prior to the Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certificate signed by an officer of the Seller reasonably
acceptable to the Purchaser, in form and substance reasonably satisfactory to
the Purchaser, certifying, representing and warranting in such officer&#146;s
capacity as an officer, and not personally, that the conditions set forth in
Clauses 3.1(a) and 3.1(b) of the Agreement have been satisfied (except to the
extent waived in writing by the Purchaser);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certificate signed by an officer of the Company reasonably
acceptable to the Purchaser, in form and substance reasonably satisfactory to
the Purchaser, certifying, representing and warranting in such officer&#146;s
capacity as an officer, and not personally, that the condition set forth in
Clause 3.1(b) of the Agreement has been satisfied (except to the extent waived
in writing by the Purchaser);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Noncompete Agreements duly executed by the Noncompete Parties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(viii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Carbon Supply Agreements duly executed by the parties thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ix)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Transition Services Agreement duly executed by the parties thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(x)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Norit Japan Agency and Distribution Agreement duly executed
by the parties thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Licences duly executed by Norit International N.V;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certifications of non-U.S. real property interest, in form and
substance reasonably satisfactory to the Purchaser, duly executed by U.S.
companies that are Group Companies; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xiii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>documentation reasonably satisfactory to the Purchaser evidencing releases of
all guarantees by the Group Companies of the Seller or any of its Affiliates
(other than the Group Companies) and all Encumbrances upon share capital or
assets of the Group Companies pursuant to the Senior Facilities Agreement (to
the extent such releases are not effected pursuant to the Notary Letter).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Transfer Deed shall be executed before the Notary, pursuant to which the Sale Shares
will be transferred to the Purchaser.</TD>
</TR>




</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 6<BR>
SELLER WARRANTIES</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Capacity, Authority and Due Incorporation</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller and the Company have the requisite power and authority to enter into and perform
each Transaction Document to which it is a party. No other or further act or proceeding on
the part of the Seller or the Company (including the shareholders of the Seller) is necessary
to authorize the Transaction Documents to be entered into and performed by the Seller or the
Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Transaction Document to which the Seller or the Company is a party constitutes or will,
when executed, constitute legally valid and binding obligations on the Seller and the Company,
enforceable in accordance with their respective terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Execution of the Agreement by the Seller and compliance with the terms of each Transaction
Document to which the Seller or the Company is a party does not and will not conflict with or
constitute a default or breach under any provision of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Seller&#146;s or the Company&#146;s articles of association or other charter
instruments; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any order, judgment, award, injunction or decree (collectively, &#147;<B>Orders</B>&#148;) or
any Laws.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Compliance with the terms of each Transaction Document to which the Seller or the Company is
a party:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to providing the notices, and obtaining the consents, described in
Section&nbsp;1.4 of the Disclosure Letter, will not violate or conflict with, or constitute
a default (or an event that, with notice or lapse of time, or both, would constitute a
default) under, or will result in the termination of, or accelerate the performance
required by, or result in the creation of any Encumbrance upon any of the share capital
or other equity securities of the Company (including the Sale Shares), any of the
assets of the Company under, any term or provision of any Contract to which the Seller
or the Company is a party or by which the Seller or the Company or any of their
respective assets or properties may be bound or affected; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>except as required by the Competition Authority, will not, insofar as relates
to the Seller or the Company, require any consent, approval, exemption or other action
by or notice to any Governmental Authority.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each of the Seller and the Company is a company validly incorporated, in existence and duly
registered under the Laws of its jurisdiction of organization.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Title and Encumbrances</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller is the legal and beneficial owner of the Sale Shares and other than Encumbrances
which will be released on Completion, there are no Encumbrances over the Sale Shares.</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->46<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Sale Shares constitute the whole of the issued and allotted share capital of the Company
and each of the Sale Shares is fully paid or credited as fully paid.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Transfer of the Sale Shares as contemplated in the Agreement will convey to the Purchaser all
the Seller&#146;s right, title and interest in and to the Sale Shares free and clear of all
Encumbrances.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>There are no (i)&nbsp;securities convertible into or exchangeable for share capital or other
securities of the Company; (ii)&nbsp;options, warrants or other rights to purchase or subscribe to
share capital or other securities of the Company or securities which are convertible into or
exchangeable for share capital or other securities of the Company; or (iii)&nbsp;Contracts relating
to the issuance, sale or transfer of any share capital or other equity securities of the
Company, any such convertible or exchangeable securities or any such options, warrants or
other rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller indirectly owns all of the issued and outstanding shares in the capital of Norit
International N.V. Norit International N.V. is the legal and beneficial owner of the Sale
Shares and, except pursuant to the Senior Facilities Agreement, there are no Encumbrances over
the Sale Shares.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->47<!-- /Folio -->
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 7<BR>
COMPANY WARRANTIES</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Capacity, Authority and Due Incorporation</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Execution of the Agreement by the Seller and compliance with the terms of each Transaction
Document to which the Seller or the Company is a party does not and will not conflict with or
constitute a default or breach under any provision of any Group Company&#146;s (other than the
Company&#146;s) articles of association or other charter instruments.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Compliance with the terms of each Transaction Document to which the Seller or the Company is
a party, subject to providing the notices, and obtaining the consents, described in Section
1.2 of the Disclosure Letter, will not violate or conflict with, or constitute a default (or
an event that, with notice or lapse of time, or both, would constitute a default) under, or
will result in the termination of, or accelerate the performance required by, or result in the
creation of any Encumbrance upon any of the share capital or other equity securities of any
Group Company (other than the Company), any of the assets of any Group Company (other than the
Company) under, any term or provision of any Contract to which any Group Company (other than
the Company) is a party or by which any Group Company (other than the Company) or any of their
respective assets or properties may be bound or affected.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;1.3 of the Disclosure Letter contains a correct and complete list of the name,
jurisdiction of organization, capitalization and ownership of each Subsidiary. Except as set
forth in Section&nbsp;1.3 of the Disclosure Letter, the Company does not directly or indirectly own
any share capital or other equity or ownership interests of any entity. Each Group Company
(i)&nbsp;is a company validly incorporated, in existence and duly registered under the Laws of its
jurisdiction of organization, (ii)&nbsp;has all requisite power and authority to own, operate and
lease its assets, to carry on its business as and where such is currently being conducted, to
execute and deliver the Transaction Documents to be executed and delivered by it pursuant to
this Agreement and to carry out the transactions contemplated by such Transaction Documents
and (iii)&nbsp;is duly qualified or licensed to do business as a foreign entity in each
jurisdiction wherein the character of the properties owned by it, or the nature of its
business, makes such licensing or qualification necessary.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller has delivered to the Purchaser correct and complete copies of the articles of
association or other charter instruments and similar organizational documents, including any
amendments thereto, of each Group Company. The stock records of the Group Companies provided
in the Data Room are correct and complete copies of such instruments. Set forth in Section
1.4 of the Disclosure Letter is a correct and complete list of the directors and officers of
each Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Title and Encumbrances</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as set forth in Section&nbsp;2.1 of the Disclosure Letter, no person or entity other than
the Company or a Subsidiary owns any share capital or other equity or ownership interests of
any Subsidiary. All outstanding share capital and other equity or ownership interests of each
Subsidiary are free and clear of any Encumbrances other than Encumbrances which will be
released on Completion and are validly issued and fully paid.</TD>
</TR>



</TABLE>
</DIV>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>There are no (i)&nbsp;securities convertible into or exchangeable for share capital or other
securities of any Group Company; (ii)&nbsp;options, warrants or other rights to purchase or
subscribe to share capital or other securities of any Group Company or securities which are
convertible into or exchangeable for share capital or other securities of any Group Company;
or (iii)&nbsp;Contracts relating to the issuance, sale or transfer of any share capital or other
equity securities of any Group Company, any such convertible or exchangeable securities or any
such options, warrants or other rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as set forth in Section&nbsp;2.3 of the Disclosure Letter, no resolution has been adopted
for the dissolution or liquidation of the Dutch Group Companies, no circumstances exist which
may result in the dissolution or liquidation of the Dutch Group Companies, and no proposals
have been made or resolution adopted for a statutory/legal merger (<I>juridische fusie</I>) or
division (<I>splitsing</I>), or a similar arrangement of the Dutch Group Companies which have not
been executed before Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None of the Group Companies is currently (a)&nbsp;declared bankrupt (<I>failliet verklaard</I>), (b)
granted a temporary or definitive moratorium of payments (<I>surseance van betaling</I>), (c)&nbsp;made
subject to any insolvency or reorganisation proceedings or (d)&nbsp;involved in negotiations with
any one or more of its creditors or taken any other step with a view to the readjustment or
rescheduling of all or part of its debts, nor has any third party applied for a declaration of
bankruptcy or any such similar arrangement for the Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Financial Matters</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Included as Section&nbsp;3.1 of the Disclosure Letter are consolidated financial statements of the
Group consisting of (a)&nbsp;the audited consolidated financial statements of the Group for each of
the fiscal years ended 31 December&nbsp;2009 and 2010, which financial statements have been
reported on, and are accompanied by, the signed opinions of those independent accountant for
the Group for such years described in Section&nbsp;3.1 of the Disclosure Letter (the &#147;<B>Financial
Statements</B>&#148;) and (b)&nbsp;an unaudited consolidated balance sheet of the Group as of 28 February
2011 and the related unaudited consolidated statement of earnings of the Group for the two
months then ended (the &#147;<B>Management Accounts</B>&#148;). The Financial Statements in all material
respects (a)&nbsp;give a true and fair view of the financial position and results of operation of
the Group at the relevant date; (b)&nbsp;are prepared in accordance with IFRS applied on a
consistent basis; and (c)&nbsp;fairly present the assets, liabilities, financial position, results
of operations and cash flows of the Group as required by Law as of the dates and for the
periods indicated. To the Seller&#146;s knowledge, the Management Accounts fairly reflect the
affairs of the Group having regard to their status as management accounts and the fact that no
period end adjustments have been made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the Seller&#146;s knowledge, except as and to the extent specifically set forth on the face of
the balance sheet of the Group as of December&nbsp;31, 2010, or in Section&nbsp;3.2 of the Disclosure
Letter, no Group Company has any Liabilities, other than: (a)&nbsp;commercial Liabilities incurred
since December&nbsp;31, 2010 in the ordinary course of business consistent with past practice, none
of which has had a material adverse effect on the conduct, financial condition, results of
operations, assets, Liabilities, business or operations of such Group Company; (b)&nbsp;Liabilities
disclosed in the Agreement or in the Disclosure Letter; or (c)&nbsp;Liabilities that would not,
individually or in the aggregate, have a Material Adverse Effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has established and maintained internal controls sufficient to provide reasonable
assurance (A)&nbsp;that the Company maintains records that, in reasonable detail, accurately and
fairly
</TD>
</TR>
</TABLE>
</DIV>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reflect the transactions and dispositions of the assets of the Company and its Subsidiaries
on a consolidated basis; (B)&nbsp;that transactions are recorded as necessary to permit
preparation of financial statements in accordance with applicable accounting standards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Tax Matters</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Since 31 December&nbsp;2010, no Group Company has incurred any Taxes other than Taxes incurred in
the ordinary course of business consistent in type and amount with past practices of such
Group Company. All Taxes of all Group Companies incurred as at or prior to 31 December&nbsp;2010
have been paid or are included in a correct and complete liability accrual on the balance
sheet of the Group as of 31 December&nbsp;2010 (whether or not the related Taxes are disputed).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All Tax Returns required to be filed by or on behalf of the Company or any Subsidiary have
been timely filed and, when filed, were correct and complete in all material respects.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No claim has been made by any Governmental Authority in a jurisdiction in which a Group
Company does not file Tax Returns alleging that such Group Company is or may be subject to
taxation by that jurisdiction or Governmental Authority. The Tax Returns of each Group
Company that are under audit or for the periods since 31 December&nbsp;2008 have been audited by
Governmental Authorities are set forth in Section&nbsp;4.3 of the Disclosure Letter. No Group
Company has received from any Governmental Authority any notice of underpayment or assessment
of Taxes or other deficiency that has not been paid or any objection to any Tax Return. There
are no outstanding Contracts or waivers extending the statutory period of limitations
applicable to any Tax Return of a Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Since 5 January&nbsp;2010, the Dutch Group Companies are no longer part of the Norit NV Fiscal
Unity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Absence of Certain Changes</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as and to the extent set forth in Section&nbsp;5.1 of the Disclosure Letter, since 31
December&nbsp;2010, each Group Company has conducted its business only in the ordinary course
consistent with past practice, and there has not been:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any material adverse change in the conduct, financial condition, results of
operations, assets, Liabilities, business or operations of any Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any material loss, damage or destruction affecting the business, assets or
Liabilities of any Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any increase in the compensation, salaries, commissions or wages payable or to
become payable to any employees or agents of any Group Company, including any bonus or
other employee benefit granted, made or accrued in respect of such employees or agents
(but excluding increases in salaries or wages or bonuses occurring in the ordinary
course of business consistent with past practice).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any declaration, setting aside or payment of any dividend or other distribution
in respect of any Group Company&#146;s share capital; any redemption, purchase or other
acquisition by any Group Company of any share capital of such Group Company or any
security</TD>
</TR>

</TABLE>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>relating to such share capital; or any other payment to any shareholder of any Group
Company other than payments made to Norit International N.V. in respect of invoices
addressed to Norit International N.V. for the provision of services or insurance
cover to Group Companies in the ordinary course of business or as set out in Section
10.3 of the Disclosure Letter, in each case save to another Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any sale, lease, grant or other transfer or disposition of any assets of any
Group Company, except in the ordinary course of business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any entering into, amendment or early termination of any Contract relating to
employment to which any Group Company is a party or is otherwise bound (for an
aggregate value/expenditure higher than &#128;150,000 per person per year or providing for
or extending an employment term of twelve (12)&nbsp;months or more) other than with respect
to vacancy provisions as provided for in the budget contained in the Data Room, or any
entering into, amendment or early termination of any material Contract to which any
Group Company is a party or is otherwise bound, or any release or waiver of any
material claims or rights under any Contract to which any Group Company is a party or
is otherwise bound, in each case other than in the ordinary course of business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any capital expenditure by any Group Company not set forth in, or in excess of
the amount budgeted for such capital expenditure as set forth in, the capital
expenditures budget contained in the Data Room.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any loan made by any Group Company to any person or entity that is not a Group
Company other than de minimis loans to employees of a Group Company in the ordinary
course of business consistent with past practice.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any material change in any Group Company&#146;s financial or Tax accounting
principles or methods other than as required by Law.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Litigation</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as set forth in Section&nbsp;6.1 of the Disclosure Letter, there is no Litigation pending
or, to the Sellers&#146; knowledge, threatened against any Group Company or its shareholders,
directors or officers (in such capacity) or its business, assets or Liabilities which is
material to the Group. To the Sellers&#146; knowledge, no event has occurred or action taken that
is reasonably likely to result in Litigation against a Group Company which is material to the
Group.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Compliance with Laws and Orders</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except for past violations for which the Group Companies are not subject to any current
Liability and cannot become subject to any future Liability, each Group Company (including its
operations, business and assets) is and has been in compliance with all applicable Laws and
Orders, including all Environmental Laws in all material respects. All reports, filings and
returns required to be filed by or on behalf of any Group Company with any Governmental
Authority have been filed and, when filed, were in accordance with the applicable Laws and
Orders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as set forth in Section&nbsp;7.2 of the Disclosure Letter, each Group Company has all
licenses, permits, approvals, certifications, registrations, consents and listings of all
Governmental</TD>
</TR>


</TABLE>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Authorities (collectively, &#147;<B>Permits</B>&#148;) required for the conduct of its business and the operation of
its facilities in all material respects as now carried on. All such Permits are in full force and
effect and will not be affected or made subject to any loss, limitation or obligation to reapply as a
result of the transactions contemplated by the Agreement. Except for past violations for which the
Group Companies are not subject to any current Liability and cannot become subject to any future
Liability, each Group Company (including its operations, business and assets) is and has been in
compliance with all such Permits.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting the generality of the foregoing provisions of this Clause 7:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as set forth in Section&nbsp;7.3(a) of the Disclosure Letter, no Group
Company has retained or assumed any material Liability for any other person or entity
relating in any way to Environmental Laws, including circumstances in which such
Liability could be imputed or attributed to such Group Company. To the Sellers&#146;
knowledge, there is no Litigation pending or threatened against any other person or
entity whose Liability therefore may have been retained or assumed by or could be
imputed or attributed to any Group Company relating in any way to any Environmental
Laws. Except as set forth in Section&nbsp;7.3 of the Disclosure Letter and under general
provisions of Law, the Group Companies are not under any obligation to investigate or
to do research with respect to soil or ground water, to take safety measures or to
clean up (<I>saneren</I>) any pollution. The Group Companies have not received any written
notice of any actual, pending or threatened action by any Governmental Authority, third
party or current or ex-employee in respect of any alleged non-compliance with or
Liability under any Environmental Law, health or safety Law and/or related to illness
or disability due to the carrying out their activities. The status of the issues and
required actions described in the executive summary table included in the environmental
vendor due diligence of RPS Advies B.V. dated 2 February&nbsp;2010 with reference
KVM09.8102.R01 final (2)&nbsp;is set forth in Section&nbsp;7.3 of the Disclosure Letter. To the
knowledge of the Seller, since the report of RPS Advies B.V. dated 2 February&nbsp;2010, no
new environmental Liabilities with respect to any of the Dutch Group Companies and/or
the German Subsidiaries of the Company have come into existence.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>There are no past or present (or, to the Sellers&#146; knowledge, future) events,
conditions, circumstances, activities, practices, incidents, actions or omissions that
may (A)&nbsp;interfere with or prevent compliance or continued compliance in all material
respects by each Group Company with all Environmental Laws or (B)&nbsp;give rise to any
material Liability of any Group Company based on or related to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or handling, or
the emission, discharge, release or threatened release into the environment, of any
Waste.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the Seller&#146;s knowledge, no Group Company nor any director, officer, employee, agent or
other person associated with or acting on behalf of any Group Company has, directly or
indirectly, (A)&nbsp;used any funds of any Group Company for unlawful contributions, unlawful
gifts, unlawful entertainment or other unlawful expenses relating to political activity; (B)
made any unlawful payments, unlawful promises of payment or unlawful authorizations of payment
of money, gifts or anything of value to foreign or domestic government officials or employees
or to foreign or domestic political parties or campaigns from funds of any Group Company; (C)
established or maintained any unlawful fund of monies or other assets of any Group Company; or
(D)&nbsp;made any unlawful bribe, unlawful rebate, unlawful payoff, unlawful influence payment,
unlawful kickback or other unlawful payment to any person or entity, private or public,
regardless of form, whether in money, property or services, to receive favourable treatment in
obtaining or retaining business</TD>
</TR>


</TABLE>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for any Group Company, to obtain or retain special concessions for any Group Company or to
pay for favourable treatment for business obtained or retained or to pay for special
concessions already obtained for any Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;7.5 of the Disclosure Letter sets forth a list of net external sales to customers of
the Group by country in each of the years ended December&nbsp;31, 2009 and 2010 and the backlog to
customers of the Group by country as of 28 February&nbsp;2011.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Title to and Condition of Properties</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the steps set out in Schedule&nbsp;5, each Group Company has title or rightful
possession through a valid lease or license (as applicable) to all of its business and assets
(tangible and intangible), free and clear of all Encumbrances sufficient to carry on business
as now carried on. None of the business or assets of the Group Companies are subject to any
restrictions with respect to the transferability or divisibility thereof other than pursuant
to applicable local regulations and the Senior Facilities Agreement. No Group Company&#146;s title
to its business and assets will be affected by the transactions contemplated by the Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the Seller&#146;s knowledge, all tangible assets (real and personal) owned or utilized by the
Group Companies are in good operating condition and repair (except for ordinary wear and tear
that does not materially interfere with the use thereof in the conduct of the normal
operations of the Group Companies).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the Seller&#146;s knowledge, except for the Encumbrances, easements or rights of way granted or
appurtenant to or otherwise affecting the Real Property listed in Section&nbsp;8.3 of the
Disclosure Letter, the Group Companies have the full right to use the Real Property for the
purposes for which the Real Property is currently used.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the Seller&#146;s knowledge, the Group Companies have not made any renovation or alteration of
the Real Property other than on the basis of and in conformity with the prior permission or
consent from the relevant landlords (if required) and/or, to the extent applicable, the
relevant Governmental Authority.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Insurance</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">9.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;9.1 of the Disclosure Letter sets forth a list and description of all material
policies of insurance that (i)&nbsp;apply to any Group Company and (ii)&nbsp;are currently in effect
with respect to the business, employees, directors, assets or Liabilities of any Group Company
(collectively, the &#147;<B>Group Insurance Policies</B>&#148;). Apart from those claims listed under Section
9.1 of the Disclosure Letter, there are no current claims by any Group Company under any such
insurance policies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">9.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Group Company has received any notice of cancellation with respect to any Group Insurance
Policy, and to the Sellers&#146; knowledge, no event or condition exists or has occurred that could
result in cancellation of any Group Insurance Policy.</TD>
</TR>




</TABLE>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>10.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Contracts and Commitments</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;10.1 of the Disclosure Letter sets forth a list of each of the following Contracts in
effect at the date of this Agreement to which any Group Company is a party, save where such
Contracts are listed in another section of the Disclosure Letter (such Contracts set forth on
such list, together with any purchase Contracts with any supplier listed in Section&nbsp;13.2 of
the Disclosure Letter and any Contracts with any customer listed in Section&nbsp;13.1 of the
Disclosure Letter (which purchase and customer Contracts need not be listed in Section&nbsp;10.1 of
the Disclosure Letter) hereinafter referred to as the &#147;<B>Material Contracts</B>&#148;):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any Contract for the lease, sub-lease, limited lease or occupancy of any
material Real Property (whether as lessor or lessee).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any Contract with any director, officer or employee that is not cancellable by
such Group Company on notice to be given in compliance with applicable Laws without
Liability, penalty or premium of any nature or kind whatsoever or under which such
Group Company could incur remaining obligations in excess of &#128;100,000, other than a
Contract of employment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other than any Contract with another Group Company, any loan Contract,
promissory note, letter of credit, debenture, note, mortgage, bank guarantee,
performance or other type of bond or other evidence of indebtedness or an obligation
for borrowed money, as a signatory, guarantor or otherwise, other than bank guarantees
and performance bonds in the ordinary course of business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other than any Contract with another Group Company, any Contract under which a
Group Company has guaranteed the payment or performance of any person or entity, agreed
to indemnify any person or entity outside the Group (except under Contracts entered
into by such Group Company in the ordinary course of business) or to act as a surety,
or otherwise agreed to be contingently or secondarily liable for the obligations of any
person or entity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any consulting, development, joint development or similar Contract relating to,
or any Contract requiring the assignment of any interest in, any material part of the
Group Intellectual Property.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any Contract (i)&nbsp;prohibiting or restricting such Group Company or any of its
employees from competing in any business or geographical area, or soliciting customers
or employees, or otherwise restricting it from carrying on any business anywhere in the
world or (ii)&nbsp;relating to the location of employees or a minimum number of employees to
be employed by such Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as disclosed in Section&nbsp;10.1 or another section of the Disclosure
Letter, any Contract of any nature involving any remaining consideration or other
expenditure in excess of &#128;10,000,000 (for each Contract).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">10.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller has made available in the Data Room correct and complete copies of all Contracts
with (a)&nbsp;any material sales representative, dealer, distributor or franchisee, (b)&nbsp;any
customer listed in Section&nbsp;13.1 of the Disclosure Letter and (c)&nbsp;any supplier listed in
Section&nbsp;13.2 of the Disclosure Letter.</TD>
</TR>



</TABLE>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">10.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Group Company is in default in any material respect under any Material Contract to which
it is a party or is otherwise bound, nor has any event or omission occurred that, through the
passage of time or the giving of notice, or both, would constitute a default in any material
respect thereunder or cause the acceleration of any of such Group Company&#146;s obligations
thereunder or result in the creation of any Encumbrance on any of the share capital or other
equity securities (including the Sale Shares), or any of the assets, of such Group Company.
To the Sellers&#146; knowledge, no third party is in default in any material respect under any
Material Contract to which any Group Company is a party or is otherwise bound, nor has any
event or omission occurred that, through the passage of time or the giving of notice, or both,
would constitute a default in any material respect thereunder, or give rise to an automatic
termination, or the right of discretionary termination thereof. Each Material Contract to
which any Group Company is a party or is otherwise bound is in full force and effect (except
where it has expired in accordance with its terms) and is a valid and binding agreement
enforceable against such Group Company and, to the Sellers&#146; knowledge, the other party or
parties thereto in accordance with its terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>11.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Employee Matters</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">11.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;11.1 of the Disclosure Letter sets forth a correct and complete list of each of the
following currently maintained or entered into by any Group Company, to which any Group
Company contributes or is obligated to contribute, or under which any Group Company has any
material Liability: (a)&nbsp;all material plans and programs providing benefits to any current or
former employee, director or independent contractor, or beneficiary or dependent thereof,
including any material pension, profit sharing, retirement, bonus, health, dental, death,
accident, disability, stock purchase, stock option, stock appreciation, stock bonus, executive
or deferred compensation, hospitalization or severance plans or programs (collectively,
&#147;<B>Benefit Plans</B>&#148;); (b)&nbsp;all collective bargaining agreements; and (c)&nbsp;all Contracts with
employees providing for annual salary or other payments in excess of &#128;150,000.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">11.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With respect to each Benefit Plan, (i)&nbsp;all employer and employee contributions to each
Benefit Plan required by Law or by the terms of such Benefit Plan have been made or, if
applicable, accrued in accordance with normal accounting practices, (ii)&nbsp;the fair market value
of the assets of each funded Benefit Plan, the liability of each insurer for any Benefit Plan
funded through insurance or the book reserve established for any Benefit Plan, together with
any accrued contributions, is sufficient to procure or provide for the accrued benefit
obligations with respect to all current and former participants in such plan according to the
actuarial assumptions and valuations most recently used to determine employer contributions to
such Benefit Plan, and no transaction contemplated by the Agreement would reasonably be
expected to cause such assets or insurance obligations to be less than such benefit
obligations, (iii)&nbsp;all Benefit Plans have been maintained in accordance with their terms and
all requirements of applicable Law, (iv)&nbsp;each Benefit Plan required to be registered has been
registered and has been maintained in good standing with the appropriate Governmental
Authorities; (v)&nbsp;to the extent any Benefit Plan is intended to qualify for special tax
treatment, such Benefit Plan meets all requirements for such treatment; (vi)&nbsp;to the knowledge
of the Seller, no event has occurred respecting any Benefit Plan that would reasonably be
expected to result in the revocation of the registration of such Benefit Plan or entitle any
person or entity to wind up or terminate any Benefit Plan, in whole or in part, or that would
otherwise reasonably be expected to adversely affect the tax status of any such Benefit Plan;
(vii)&nbsp;none of the Benefit Plans or any of the collective bargaining agreements or Contracts
with employees described in subclauses (b)&nbsp;and (c)&nbsp;of Clause 11.1 provide for benefit
increases or the acceleration of, or an increase in, funding or payment obligations that are
contingent upon, or will be triggered by, the consummation of the transactions contemplated by</TD>
</TR>


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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Agreement; (viii)&nbsp;there are no liabilities in respect of any Benefit Plan which have not
been provided for under applicable accounting standards, including going concern unfunded
liabilities, solvency deficiencies or wind-up deficiencies where applicable; (ix)&nbsp;none of
the Benefit Plans would reasonably be expected to provide benefits beyond retirement (other
than pension provision in accordance with the Benefit Plans) or other termination of service
to employees or former employees or to the beneficiaries or dependants of such employees;
and (x)&nbsp;there is no proceeding, action, suit or claim (other than routine claims for
payments of benefits) pending or threatened involving any Benefit Plan or its assets or any
collective bargaining agreement or Contract with an employee described in subclauses (b)&nbsp;and
(c)&nbsp;of Clause 11.1.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">11.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other than in relation to the Benefit Plans, no Group Company has a contractual liability to
make any contributions to any personal pension scheme not set out in Section&nbsp;11.1 of the
Disclosure Letter, retirement annuity contract, individual retirement account or local
equivalent for any of its employees or former employees or to make any payment or remuneration
specifically referable to contributions payable by such employee under such scheme, contract
or other arrangement. No event has occurred that will require payment of a material amount by
any Group Company in addition to the ordinary contributions and expenses payable in relation
to Benefit Plans (as stated in the Benefit Plans most recent actuarial valuation reports for
funding purposes or other relevant document dealing with the appropriate ordinary funding
rate) or that will give rise to a debt due from any Group Company (other than any debt
relating to ordinary contributions and expenses).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>12.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Intellectual Property</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">12.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;12.1 of the Disclosure Letter contains a correct and complete list of all patents,
pending patents, trademarks, trade names and domain names owned or used by any Group Company
(the &#147;<B>Registered Intellectual Property</B>&#148;). All registrations and applications with respect to
the Registered Intellectual Property have been properly made and filed, and all annuity,
maintenance, renewal and other fees relating to such registrations or applications have been
paid as necessary to maintain or renew all such registrations and applications to the extent
that such maintenance or renewal has been deemed appropriate in the ordinary course of
business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">12.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Group Company is infringing, or has infringed, any Intellectual Property of another in any
material respect. Except as set forth in Section&nbsp;12.2 of the Disclosure Letter, to the
Sellers&#146; knowledge, no person or entity is infringing or has infringed any of the Group
Intellectual Property. Except as set forth in Section&nbsp;12.2 of the Disclosure Letter, none of
the Group Companies has granted any license or made any assignment of the Group Intellectual
Property, and no person or entity other than the Group Companies has any right to use the
Group Intellectual Property. Except as set forth in Section&nbsp;12.2 of the Disclosure Letter, no
Group Company has any obligation to pay any royalties or other consideration for the right to
use any Intellectual Property of others, except for payments required to be made for the right
to use &#147;shrink-wrap&#148; or similar off-the-shelf software products. With respect to Group
Intellectual Property (other than Registered Intellectual Property) (a)&nbsp;for which secrecy is
required to prevent third parties and non-approved employees from obtaining such information
to an extent that would be materially adverse to the benefits attaching to the confidentiality
of such information and (b)&nbsp;which would be protected by registered intellectual property
rights had they been applied for (such Group Intellectual Property is referred to as &#147;<B>Trade
Secrets</B>&#148;), the Group Companies have policies and procedures in place that are intended to, and
have taken commercially reasonable efforts to, maintain the confidentiality of such Trade
Secrets, including entering into agreements with employees of the Group requiring such
employees to maintain confidentiality of</TD>
</TR>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Trade Secrets and maintaining the Trade Secrets in secure spaces to which third parties who
have not entered into confidentiality agreements do not have access.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>13.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Customers and Suppliers</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">13.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;13.1 of the Disclosure Letter contains a correct and complete list of the fifteen
(15)&nbsp;largest customers of the Group for each of 2009 and 2010 (determined on the basis of the
total Euro amount of net sales) showing the total Euro amount of net sales to each such
customer during each such year. No Group Company has received any written communication by
any of the customers described in Section&nbsp;13.1 of the Disclosure Letter by means of which such
customer communicates its intention to cease to be a customer of the Group after the
Completion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">13.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;13.2 of the Disclosure Letter contains a correct and complete list of the fifteen
(15)&nbsp;largest suppliers to the Group for each of 2009 and 2010 (determined on the basis of the
total Euro amount of purchases) showing the total Euro amount of purchases from each such
supplier during each such year. To the Seller&#146;s knowledge, no Group Company has received any
written communication by any of the suppliers described in Section&nbsp;13.2 of the Disclosure
Letter by means of which such supplier communicates its intention to cease to be suppliers to
the Group after the Completion and will not continue to supply the Group with substantially
the same quantity and quality of goods and services at competitive prices.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>14.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Product Warranty and Product Liability</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;14.1 of the Disclosure Letter contains a correct and complete description of all
pending product warranty and product liability claims involving any Group Company which are
material to that Group Company. Save as set out in section 14.1 of the Disclosure Letter,
none of the Products/Services is the subject of any replacement, field fix, retrofit,
modification or recall campaign, and to the Sellers&#146; knowledge, no facts or conditions exist
that could reasonably be expected to result in such a recall campaign. Save as set out in
section 14.1 of the Disclosure Letter, all Products/Services have been designed,
manufactured, labeled and performed so as to meet and comply with all contractual
requirements and all applicable Laws and Orders currently in effect, and have received all
governmental approvals necessary to allow their sale and use. During the last 20&nbsp;years and
to the Seller&#146;s knowledge prior to such period, no products previously or currently
manufactured or sold by any Group Company contained or contain asbestos.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>15.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Certain Relationships to the Group</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">15.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as described in Section&nbsp;15.1 of the Disclosure Letter, (a)&nbsp;there are no Contracts
between any Group Company and the Seller or any of its Affiliates (other than the Group
Companies), including guarantees of the Seller or any of its Affiliates (other than the Group
Companies); and (b)&nbsp;neither the Seller nor any of its Affiliates (other than the Group
Companies) has any direct or indirect interest in (i)&nbsp;any person or entity that is competitive
with any of the Group Companies or (ii)&nbsp;any material property, asset or right that is used by
the Group Companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">15.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All obligations of the Seller or any of its Affiliates (other than the Group Companies) to
the Group Companies, and all obligations of the Group Companies to the Seller or any of its</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->57<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Affiliates (other than the Group Companies), other than those incurred in the ordinary
course of trading pursuant to Contracts described in Section&nbsp;15.1 of the Disclosure Letter,
are described in Section&nbsp;15.2 of the Disclosure Letter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">15.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;15.3 of the Disclosure Letter lists all Contracts of the Seller or any of its
Affiliates (other than the Group Companies) that are attributable to or used in both (a)&nbsp;the
CPT Business and (b)&nbsp;any other business of the Seller or any of its Affiliates (other than the
Group Companies).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>16.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Services Necessary</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">16.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other than services provided under the Contracts set out in section 15.1 of the Disclosure
Letter, the Transitional Services Agreement and the Carbon Supply Agreements, section 16.1 of
the Disclosure Letter contains a correct and complete list of all services provided to the
Group Companies by employees of the Seller or any of its Affiliates (other than the Group
Companies).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>17.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Brokers or Finders</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">17.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None of the Seller, the Group Companies and any of their respective shareholders, directors,
employees or agents has retained, employed or used any broker or finder in connection with the
transactions provided for by the Agreement or the negotiation thereof, nor are any of them
responsible for the payment of any broker&#146;s, finder&#146;s or similar fees, in each case for which
a Group Company would be liable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>18.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Definitions</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">18.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Capitalized terms used, but not otherwise defined in this Schedule&nbsp;7 (including this Clause
18.1 of this Schedule&nbsp;7), shall have the respective meanings assigned to such terms in the
Agreement. For purposes of this Schedule&nbsp;7, the term:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Disclosure Letter</B>&#148; means the disclosure letter that describes qualifications
and limitations to certain warranties contained in this Schedule&nbsp;7 and certain other
matters described in this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Environmental Laws</B>&#148; means all Laws (including common law) relating to
pollution, protection of the environment or human health, occupational safety and
health or sanitation, including Laws relating to emissions, spills, discharges,
generation, storage, leaks, injection, leaching, seepage, releases or threatened
releases of Waste into the environment (including ambient air, surface water, ground
water, land surface or subsurface strata) or otherwise relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or handling of
Waste, together with any regulation, code, plan, order, decree, permit, judgment,
injunction, notice or demand letter issued, entered, promulgated or approved
thereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Group Intellectual Property</B>&#148; means all of the Group Companies&#146; worldwide
rights in, to and under Intellectual Property.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Intellectual Property</B>&#148; means rights in the following: (i)&nbsp;all trademark
rights, trade dress, service marks, trade names, domain names and brand names; (ii)&nbsp;all
copyrights and
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->58<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all other rights associated therewith; (iii)&nbsp;all patents and all proprietary rights
associated with patents; (iv)&nbsp;all Contracts or agreements granting any right, title
or license under the intellectual property rights of any third party; (v)&nbsp;all
inventions, computer software, trade secrets, websites, royalty rights, and employee
covenants and agreements respecting intellectual property; and (vi)&nbsp;all
registrations of any of the foregoing, all applications therefore, all goodwill
associated with any of the foregoing and all claims for infringement or breach
thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Products/Services</B>&#148; means all products or services currently or previously sold
by any Group Company, or by any predecessor of any Group Company, or that have borne a
trademark of any Group Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Tax Audit</B>&#148; means any audit, appeal, hearing, Litigation, contest or other
similar proceeding with respect to any Tax Return.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Tax Return</B>&#148; means any return, declaration, report, estimate, claim for refund,
or information return or statement relating to, or required to be filed in connection
with, any Taxes, including any schedule, form, attachment or amendment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Waste</B>&#148; means (i)&nbsp;any petroleum, hazardous or toxic petroleum-derived substance
or petroleum product, flammable or explosive material, radioactive materials, asbestos
in any form that is or could become friable, urea formaldehyde foam insulation, foundry
sand or polychlorinated biphenyls (PCBs); (ii)&nbsp;any chemical or other material or
substance that is now regulated, classified, restricted or defined as or included in
the definition of &#147;hazardous substance,&#148; &#147;hazardous waste,&#148; &#147;hazardous material,&#148;
&#147;extremely hazardous substance,&#148; &#147;restricted hazardous waste,&#148; &#147;toxic substance,&#148;
&#147;toxic pollutant,&#148; &#147;pollutant&#148; or &#147;contaminant&#148; under any Environmental Law, or any
similar denomination intended to classify substance by reason of toxicity,
carcinogenicity, ignitability, corrosivity or reactivity under any Environmental Law;
or (iii)&nbsp;any other chemical or other material, waste or substance, exposure to which is
now prohibited, limited, restricted or regulated by or under any Environmental Law.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>19.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Reports</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">19.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any fact, matter or other information disclosed in a Report shall be deemed to also be
disclosed in the relevant section of, or schedule to, the Disclosure Letter; provided that
such fact, matter or other information is reasonably apparent in such Report in such a manner
and with such detail so as to enable the Purchaser to make an informed assessment of the fact,
matter or other information.</TD>
</TR>

</TABLE>
</DIV>


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</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 8<BR>
RESTRICTED ACTIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Seller shall procure that no member of the Group shall from the date of this Agreement until
Completion:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>acquire or dispose of (other than in the ordinary course of business), or
acquire or grant any option or right of pre-emption in respect of any asset or make any
capital expenditure for a consideration in excess of &#128;500,000 individually or
&#128;1,000,000 in the aggregate (in each case, exclusive of VAT); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>create any Encumbrance over any material asset (other than pursuant to the
existing financing of the Group, details of which are set out in the Data Room); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>create or raise any debt or borrow any money (except borrowings in the ordinary
course of business from its current bankers and other financial institutions in
accordance with its existing banking and other debt facilities, including uncommitted
facilities); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enter into any Contracts or transactions outside the ordinary course of
business; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>declare, make, or pay any dividend or other distribution other than to another
Group Company or to meet interest payments (i)&nbsp;to another Group Company or (ii)&nbsp;in
respect of the existing third party financing arrangements of any Group Company details
of which are contained in the Data Room; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>grant or issue any Encumbrance or give any guarantee or indemnity (other than
in the ordinary course of business) over or in respect of the whole or part of the
undertaking or assets of the Group; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>initiate or settle any Litigation which is material to the Group (taken as a
whole) (and excluding for the avoidance of doubt, any proceedings for the purpose of
debt collection in the ordinary course of business); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>amend the articles of association or other charter instruments or similar
organizational documents of any Group Company; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>create, issue, purchase or redeem any class of share capital; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>liquidate any member of the Group or dispose of any shares in any member of the
Group except to another Group Company; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enter into any arrangement with the Seller or any of its Affiliates other than
in the ordinary course of business on arm&#146;s length terms; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(l)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>effect any increase in the compensation, salaries, commissions or wages payable
or to become payable to any employees or agents of any Group Company, including any
bonus or other employee benefit granted, made or accrued in respect of such employees
or agents (but excluding scheduled increases in salaries or wages occurring in the
ordinary course of business consistent with past practice); or</TD>
</TR>



</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make any loan to any person or entity that is not a Group Company; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(n)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enter into any Contract with a customer who is (i)&nbsp;located in any country
targeted by any of the economic sanctions of the United States of America administered
by the United States Treasury Department&#146;s Office of Foreign Assets Control (being at
the date of this Agreement Belarus, Cote D&#146;Ivoire (Ivory Coast), Cuba, Democratic
Republic of Congo, Iraq, Iran, Liberia, Lebanon, Libya, Myanmar (Burma), North Korea,
Somalia, Sudan, Syria, Western Balkans and Zimbabwe), provided, however, that if the
Seller provides written notice to the Purchaser that a Group Company intends to enter
into a Contract with a customer who is located in such a country and that such economic
sanctions would not prohibit the Group Company from entering into such a Contract if it
were to be entered into after Completion, then the Group Company may enter into such
Contract with the Purchaser&#146;s written consent, which shall not be unreasonably
withheld, or (ii)&nbsp;a person appearing on the list of Specially Designated Nationals and
Blocked Persons issued by the United States Treasury Department&#146;s Office of Foreign
Assets Control;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(o)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make any material change in any Group Company&#146;s financial or Tax accounting
principles or methods; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(p)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>agree, conditionally or otherwise, to do any of the foregoing.</TD>
</TR>

</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->61<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 9<BR>
NOTARY LETTER</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 10<BR>
SELLER&#146;S LIMITATION OF LIABILITY</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>APPLICATION OF THIS SCHEDULE</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties intend that all of the provisions of this Schedule&nbsp;10 apply to any Claim against
the Seller.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Time Period</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall not be liable in respect of any Claim unless the Purchaser shall have:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>given written notice of such Claim specifying in reasonable detail the matter
which gives rise to the Claim, the nature of the Claim and (to the extent reasonably
available to the Purchaser) the amount claimed, as soon as reasonably practicable after
the Purchaser or any Group Company has become aware of such Claim, and in any event by
no later than the date specified below:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of a Claim (other than a Claim for breach of a
Fundamental Warranty or any covenant or agreement of the Seller contained in
this Agreement, other than a covenant or agreement contained in Clause 4 of
this Agreement): 18&nbsp;months from the date of Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of a Claim for breach of a Fundamental
Warranty : five years from the date of Completion; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(unless otherwise agreed in writing by the Seller or unless the relevant Claim
has previously been settled between the Seller and the Purchaser), commenced and
validly served Proceedings in respect of the relevant Claim within nine months of the
date of notification of such Claim in accordance with sub-paragraph 2(a) above, except
as set forth in paragraph 4.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Quantum</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall have no liability in respect of any Claim for breach of a Seller Warranty
(other than a Fundamental Warranty) or, for purposes of the limitation set forth in subclause
3.1(a) below only, the covenant set out in Clause 4.1(c) by the Purchaser unless:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount of the liability pursuant to that individual Claim exceeds &#128;75,000
(each a &#147;<B>qualifying claim</B>&#148;); provided that a series of related Claims arising from
substantially related facts or circumstances shall for this purpose be treated as a
single Claim; provided, further, that for purposes of determining the existence and
amount of liability pursuant to that individual Claim, any materiality, Material
Adverse Effect or similar qualifier set forth in the applicable provision of the
Agreement shall be ignored.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the aggregate amount of all qualifying Claims exceeds &#128;5,250,000 in which event
the Seller shall be liable for the excess.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The maximum aggregate liability of the Seller in relation to all Claims (other than a breach
of any of the Fundamental Warranties or any covenant or agreement of the Seller contained in
Clauses</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->63<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>2.1, 4.1(c), 10, 15 and 20.4 of this Agreement) shall not in any circumstances exceed
&#128;26,250,000. The maximum aggregate liability of the Seller in relation to all Claims for
breach of the Fundamental Warranties or any covenant or agreement of the Seller contained in
Clauses 2.1, 4.1(c), 10, 15 and 20.4 of this Agreement shall be the Purchase Price.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Contingent Liabilities</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall have no liability in respect of any Claim which is based on any liability
which is contingent unless and until such contingent liability becomes an actual liability
and is due and payable but this paragraph shall not operate to avoid a Claim made in respect
of a contingent liability within the time limit specified in paragraph 2(a) above and
containing such details as are specified in paragraph 2(a) above provided that (i)
Proceedings in respect of the Claim have been commenced by being both issued and validly
served on the Seller, within six months of such contingent liability becoming an actual
liability; and (ii)&nbsp;in the case of a contingent liability that does not involve a liability
of a Group Company to, or a Claim by, a third party, any such contingent liability shall
have become an actual liability within twelve months from the date of the Claim made in
accordance with paragraph 2(a).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Other Exclusions</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall not be liable in respect of any Claim if and to the extent that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an allowance, provision or reserve in respect of the type of matter giving rise
to the Claim shall have been made in the Group&#146;s accounts as shown in the Financial
Statements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Claim would not have arisen but for a breach by the Purchaser of any of its
obligations under this Agreement or any other Transaction Document;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Claim is caused or increased by any voluntary act, omission, transaction
or arrangement carried out by: (A)&nbsp;any Group Company at the written request, or with
the written consent, of the Purchaser before Completion; (B)&nbsp;any Group Company after
Completion (other than in the ordinary course of the business of the Group Companies as
carried out at the date of this Agreement or as required by Law); or (C)&nbsp;the Purchaser
or any other member of the Purchaser&#146;s Group (other than the Group Companies) before or
after Completion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it relates to any liability or obligation which arises as a result of the
passing of, or any change in, any law, rule, regulation or administrative practice of
any Governmental Authority (including the interpretation thereof) including (without
prejudice to the generality of the foregoing) any increase in the rates of Tax, any
imposition of Tax, any withdrawal of relief from Tax or any extra-statutory concessions
of any Tax Authority, in each case, not actually in effect at the date of this
Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it relates to any liability which arises as a result of any change after
Completion of the date to which any Group Company makes up its accounts or in the
accounting policies or practices of any Group Company, save in circumstances where such
change is required to be made so as to comply with applicable Law in force at the date
of the Agreement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Claim is increased by virtue of either the Purchaser or any other member of
the Purchaser&#146;s Group failing to comply with the provisions of paragraph 6 &#091;<I>Conduct</I>&#093;
below.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->64<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall not have any liability in respect of any Claim for any punitive, indirect or
consequential loss, loss of profit or loss of opportunity, unless such loss corresponds to the
damages or compensation required to be paid to a third party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The limitations of liability contained in this Schedule&nbsp;10 shall not apply to any liability
for any Claim to the extent that the same is attributable to fraud or fraudulent
misrepresentation on the part of the Seller or any other member of the Seller&#146;s Group.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Conduct of Claims</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Purchaser or any other member of the Purchaser&#146;s Group becomes aware of any claim by a
third party which is reasonably likely to result in a Claim being made or any other matter or
circumstance which is reasonably likely to give rise to a Claim, the Purchaser shall:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>procure that notice thereof is promptly (and in any event within 30&nbsp;days of
becoming aware of it and having had a reasonable opportunity to investigate it) given
to the Seller as regards any such claim, matter or circumstance but shall (subject to
the remaining provisions of this paragraph 6) retain conduct of such claim, subject to
consultation and the provision of information to the Seller (provided that failure to
give such notice in accordance with this paragraph 6.1(a) shall not relieve the Seller
of its obligations hereunder except to the extent that such failure shall have
adversely affected the Seller);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>allow, and shall procure that the relevant Group Companies shall provide,
reasonable access to the Seller and its Representatives upon reasonable notice and
during normal business hours to investigate the matter or circumstance alleged to give
rise to such claim and whether and to what extent any amount is payable in respect of
such claim, and for such purpose the Purchaser shall, and shall procure that the
relevant Group Companies shall, give all such reasonable information (however stored or
recorded) and reasonable assistance, including access to premises and personnel, and
the right to examine and copy or photograph any assets, accounts, documents and
records, as the Seller or its Representatives may reasonably request and at the
Seller&#146;s cost (subject to the Seller only using the same in connection with the
investigation of such claim and otherwise keeping such information confidential in
accordance with the terms of Clause 18 of the Agreement);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to the Seller agreeing to reimburse the Purchaser to its reasonable
satisfaction against its reasonable costs and expenses:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>take all such commercially reasonable action and institute any
Proceedings, and give any information and assistance, as the Seller may
reasonably request to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(A)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>dispute, resist, appeal, compromise, defend,
remedy or mitigate the matter; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(B)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enforce against a person (other than the
Seller) the rights of any member of the Purchaser&#146;s Group in relation
to the matter; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in connection with Proceedings related to the matter, use
advisers nominated by the Seller and, if the Seller requests, allow the Seller
the exclusive conduct of the Proceedings; provided, however, that this
subclause (ii)&nbsp;shall not be applicable if the matter may materially adversely
affect the Purchaser or the Group Companies</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->65<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">other than as a result of money damages or other money payments or if the
matter relates to a dispute with a customer or supplier of the Purchaser or
the Group Companies.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a Claim is as a result of, or in connection with, a claim by or liability to, a third
party, then the Purchaser shall not, and shall procure that no other member of the Purchaser&#146;s
Group shall, admit liability in respect of the claim, and shall procure that the claim shall
not be compromised, disposed of or settled without the prior written consent of the Seller
(such consent not to be unreasonably withheld or delayed).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Recovery Only Once</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No liability shall attach to the Seller in respect of any Claim to the extent that the same
loss has been recovered by the Purchaser under any other Seller Warranty or term of this
Agreement or any other document entered into pursuant hereto and accordingly the Purchaser
may only recover once in respect of the same loss.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Mitigation</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser shall take all reasonable action to mitigate any loss suffered by it or any
other member of the Purchaser&#146;s Group in respect of a matter giving rise to a Claim and
nothing in this Schedule&nbsp;10 restricts or limits the general obligation at law of the
Purchaser to mitigate any loss or damage which it may incur in consequence of a matter
giving rise to a Claim; provided, however, that in respect of a matter giving rise to a
Claim as a result of breach of any covenant or agreement of he Seller contained in Clauses
2.1, 4.1 (c)), 10, 15 and 20.4 of this Agreement, the Seller shall be responsible for any
costs and expenses incurred by the Purchaser&#146;s Group in mitigating any such loss.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Remediable Breach</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Seller shall not be liable in respect of any Claim to the extent that within 30&nbsp;days
following receipt of notification thereof in accordance with paragraph 2(a) of this Schedule
10 the matter giving rise to such claim is remedied by the Seller to the reasonable
satisfaction of the Purchaser without cost or disruption to the Group.</TD>
</TR>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 11<BR>
CARBON SUPPLY AGREEMENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>






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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE 12<BR>
TRANSITION SERVICES AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule omitted pursuant to Item&nbsp;601(b)(2) of Regulation&nbsp;S-K.
</DIV>



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