, L.L.C. (Ma na g e r Ma na g ed) OPERATIN G AGREEMEN T

, L.L.C. (Ma na g e r Ma na g ed) OPERATIN G AGREEMEN T THE MEMBERSHIP INTERESTS PRESENTED BY THIS OPERATING AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS. SUCH INTERESTS MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME WITHOUT EFFECTIVE REGISTRATION UNDER SUCH ACT AND LAWS OR EXEMP TION THEREFROM, AND COMPLIANCE WITH THE OTHER SUBSTANTIAL RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN. Th is Oper at ing Agr e e me n t (t he Ag r e e me n t ), dat ed as of, 20, is made and ent er ed int o by and amo n g Smit h Cor por at ion, a cor por at ion, as Man age r (t he Ma n a g e r ), and t he ot her Me mb e r s l is t ed on t he s ignat ur e page her et o (t he Ot h e r Unit hol der s ) (t he Man age r and t he Ot h e r Unit hol der s ar e s ome t ime s individual l y r ef er r ed t o as a Me mb e r an d col l ect ivel y as Me mb e r s ) and any and al l Per s ons who her eaf t er become Me mb e r s. RECITALS A. Th e Me mb e r s have f or me d t he Comp an y t o acquir e al l or s ubs t ant ial l y al l of t he as s et s, s ubject t o cer t ain l iabil it ies, of Jones, In c., a cor por at ion ( Tar ge t ), and t hen oper at e Tar get or l iquidat e it. NOW, THEREFORE, in cons ider at ion of t he mu t u al coven an t s cont ained her ein and ot her good and val uabl e cons ider at ion, t he r eceipt and s uf f iciency of which ar e her eby acknowl edged, t he par t ies her et o, int ending t o be l egal l y bound, her eby agr ee as f ol l ows : ARTICLE 1 DEFIN ITIO N S Th e f ol l owing def init ions s hal l be appl ied t o t he t er ms us ed in t his Ag r e e me n t f or al l pur pos es, unl es s ot her wis e cl ear l y indicat ed t o t he cont r ar y. Ad d it ional Me mb e r me an s a Per s on admit t e d t o t he Comp an y as a Me mb e r pur s uant t o Sect ion 13.2. Ad j u s t e d Capit al Ac c ou n t Def icit me an s wit h r es pect t o any Capit al Ac c o u n t as of t he end of any Taxabl e Year, t he amo u n t by which t he bal ance in s uch Capit al Ac c ou n t is l es s t han zer o. For t his pur pos e, s uch Per s on s Capit al Ac c ou n t bal ance s hal l be (i) r educed f or any it ems des cr ibed in Tr eas u r y Regul at ion Sect ion 1.704-1(b)(2)(ii)(d)(4), (5), and (6), and (ii) incr eas ed f or any amo u n t s uch Per s on is obl igat ed t o cont r ibut e or is t r eat ed as being obl igat ed t o cont r ibut e t o t he Comp an y

pu r s u an t t o Tr eas u r y Regul at ion Sect ion 1.704-1(b)(2)(ii)(c) (r el at ing t o par t ner l iabil it ies t o a Comp an y) or 1.704-2(g)(1) and 1.704-2(i) (r el at ing t o min imu m gain). Ad mis s ion Dat e has t he me an ing given t o s uch t er m in Sect ion 10.3. Af f il iat e of any Per s on me an s any Per s on t hat dir ect l y or indir ect l y c on t r ol s, is cont r ol l ed by, or is under commo n cont r ol wit h t he Per s on in ques t ion. Th e Comp an y s hal l not be deeme d an Af f il iat e of t he Man age r f or any pur pos e her eunder. Ag r e e me n t me an s t his Oper at ing Agr e e me n t. As s ignee me an s a Per s on t o whom a Comp an y In t er es t has been t r ans f er r ed in accor dance wit h t he t er ms of t his Agr e e me n t, but who has not become a Me mb e r pur s uant t o Ar t icl e XI. Bas e Rat e me an s, on any dat e, a var iabl e r at e per annum equal t o t he r at e of int er es t mos t r ecent l y publ is hed by Th e Wal l St r eet Jour nal as t he pr ime r at e at l ar ge U.S. mon e y cent er banks. Book Val u e me an s, wit h r es pect t o any Comp an y pr oper t y, t he Comp an y s adjus t ed bas is f or f eder al income t ax pur pos es, adjus t ed f r om t ime t o t ime t o r ef l ect t he adjus t me n t s r equir ed or per mit t e d by Tr eas u r y Regul at ion Sect ion 1.704-1 (b)(2)(iv)(d)(g). Capit al Ac c ou n t me an s t he capit al account maint ained f or a Me mb e r p u r s u an t t o Sect ion 3.3. Capit al Con t r ibut ion me an s any cas h, cas h equival en t s, or t he Fair Ma r k e t Val u e of ot her pr oper t y which a Unit hol der cont r ibut es or is deeme d t o have cont r ibut ed t o t he Comp an y pur s uant t o Sect ion 3.1 or 3.2. Ce r t if icat e of For mat ion me an s t he Comp an y s Cer t if icat e of For mat ion as f il ed wit h t he Secr et ar y of St at e of Del awar e. Cl aim has t he me an ing given t o s uch t er m in Sect ion 5.9. Cl as s A Unit me an s a Unit r epr es ent ing a f r act ional par t of t he Comp an y In t er es t s of t he Unit hol der s and havin g t he r ight s and obl igat ions s pecif ied wit h r es pect t o Cl as s A Unit s in t his Agr e e me n t, init ial l y hel d by s u c h Per s ons s et f or t h on Schedul e 1. Cl as s B Unit me an s a Unit r epr es ent ing a f r act ional par t of t he Comp an y In t er es t s of t he Unit hol der s and havin g t he r ight s and obl igat ions s pecif ied wit h r es pect t o Cl as s B Unit s in t his Agr e e me n t. Comp an y, me an s, L.L.C., a Del awar e l imit e d l iabil it y c omp an y, or ganized pur s uant t o t he Cer t if icat e of For mat ion. Comp an y In t er es t me an s t he int er es t of a Unit hol der in Pr of it s, Los s es, and Dis t r ibut ions. Dis t r ibut ions me an s t he amo u n t of cas h avail abl e f or dis t r ibut ion by t h e Comp an y t o it s Me mb e r s in t he s ol e s ubject ive dis cr et ion of t he Ma n a g e r, s uch cas h avail abl e af t er cons ider at ion of s ever al f act or s incl uding t he Comp an y s act ual debt s, l iabil it ies, commit me n t s and obl igat ions, capit al s pending pl ans, cont ingency r es er ves, and ot her r es er ves deeme d pr udent by t he Man age r. Fis cal Per iod me an s any int er im account ing per iod wit hin a Taxabl e

Ye ar es t abl is hed by t he Man age r which is per mit t e d or r equir ed by Code Sect ion 706. Fis cal Year me an s t he Comp an y s annual account ing per iod es t abl is hed pur s uant t o Sect ion 7.2. Gr an t or Gr ant s s hal l me an a gr ant of Cl as s B Unit s made by Man age r t o Ke y Execu t ives, in t he dis cr et ion of Man age r f r om t ime t o t ime, s uch aggr egat e numb e r of Cl as s B Unit s not t o exc e e d 20 out of t he 100 Cl as s B Un it s and s hal l be s ubject t o appr opr iat e ves t ing and ot her condit ions and r es t r ict ions as may be det er min e d by Man age r. In de mn if ied Per s on has t he me an ing given t o s uch t er m in Sect ion 5.9(a). In it ial Cl os ing Dat e is as of t he dat e f ir s t wr it t en above. In it ial Unpaid Yiel d of Cl as s A Unit s, me an s as of any dat e, an amo u n t e q u al t o t he exc e s s, if any, of (a) t he aggr egat e In it ial Yiel d accr ued on al l s uch Unit s f r om t he dat e of is s uance t hr ough s uch dat e, over (b) t he aggr egat e amo u n t of pr ior Dis t r ibut ions made by t he Comp an y on al l s uch Un it s pur s uant t o Sect ion 4. 1 (a)(ii). In it ial Yiel d me an s, wit h r es pect t o each Cl as s A Unit f or each Fis cal Year, t he amo u n t accr uing on s uch Unit each day dur ing s uch ye ar at t he r at e of 7% per annum of t he s um of (a) s uch Unit s Unr et ur ned Capit al, pl us (b) In it ial Unpaid Yiel d t her eon f or al l pr ior Fis cal Year s. Ke y Execu t ives s hal l me an s el ect ed key exe c u t ive emp l o ye e s of t he Comp an y and/or Man age r, as det er min e d by Man age r f r om t ime t o t ime, which emp l o ye e s may incl ude, t he s ol e s har ehol der of Man age r. Liens s hal l me an any l ien, cl aim, encumb r an c e, or s ecur it y int er es t. Liquidat or has t he me an ing s pecif ied in Sect ion 15.3. Los s es me an s it ems of Comp an y l os s and deduct ion det er min e d ac c or ding t o s ect ion 3.3 her eof. Ma n a g e r me an s Smit h Cor por at ion, a cor por at ion, or any Succes s or Man age r, in it s capacit y as man age r of t he Comp an y. Ma n a g e r Comp an y In t er es t me an s, wit h r es pect t o t he Man age r at any t ime, t he Comp an y In t er es t hel d by s uch Man age r at s uch t ime in it s capacit y as a Man age r s epar at e and apar t f r om it s Cl as s A Unit int er es t. Me mb e r or Un it hol der me an s a Man age r or an Ot her Unit hol der. Min imu m Gain me an s t he Comp an y min imu m gain det er min e d pur s uant t o Tr e as u r y Regul at ion Sect ion 1.704-2(d). Ot h e r Unit hol der s me an s t he Unit hol der s ot her t han t he Man age r. Per s on me an s an individual or a cor por at ion, l imit e d l iabil it y comp an y, t r u s t, unincor por at ed or ganizat ion, as s ociat ion, or ot her ent it y. Pr of it s me an s it ems of Comp an y income and gain det er min e d accor ding t o Sect ion 3.3. Regul at or y Al l oc at ions has t he me an ing given t o s uch t er m in Sect ion 4.5.

S e c u r it ies Ac t me an s t he Unit ed St at es Secur it ies Ac t of 1933, as ame n d e d, and appl icabl e r ul es and r egul at ions t her eunder, and any s u c c e s s or t o s uch s t at ut e, r ul es, or r egul at ions. An y r ef er ence her ein t o a s pecif ic s ect ion, r ul e, or r egul at ion of t he Secur it ies Ac t s hal l be deeme d t o incl ude any cor r es ponding pr ovis ions of f ut ur e l aw. Subs idiar y me an s, wit h r es pect t o any Per s on, any cor por at ion, l imit e d l iabil it y comp an y, par t ner s hip, as s ociat ion, or bus ines s ent it y of which (i) if a cor por at ion, a maj or it y of t he t ot al vot ing power of s har es of s t ock ent it l ed (wit hout r egar d t o t he occur r ence of any cont ingency) t o vot e in t he el ect ion of dir ect or s, man age r s, or t r us t ees t her eof is at t he t ime owned or cont r ol l ed, dir ect l y or indir ect l y, by t hat Per s on or one or mor e of t he ot her Subs idiar ies of t hat Per s on or a comb inat ion t her eof, or (ii) if a l imit e d l iabil it y comp an y, par t ner s hip, as s ociat ion, or ot her bus ines s ent it y, a maj or it y of par t ner s hip or ot her s imil ar owner s hip int er es t t her eof is at t he t ime owned or cont r ol l ed, dir ect l y or indir ect l y, by any P e r s on or one or mor e Subs idiar ies of t hat Per s on or a comb inat ion t her eof. For pur pos es her eof, a Per s on or Per s ons s hal l be deeme d t o have a maj o r it y owner s hip int er es t in a l imit e d l iabil it y comp an y, par t ner s hip, as s ociat ion, or ot her bus ines s ent it y if s uch Per s on or Per s ons s hal l be al l ocat ed a maj or it y of l imit e d l iabil it y comp an y, par t ner s hip, as s ociat ion, or ot her bus ines s ent it y gains or l os s es or s hal l be or cont r ol any man ag ing dir ect or or gener al par t ner of s uch l imit e d l iabil it y comp an y, par t n e r s h ip, as s ociat ion, or ot her bus ines s ent it y. For pur pos es her eof, r ef er ences t o Subs idiar y of any Comp an y Par t y s hal l be given ef f ect onl y at s uch t ime s t hat s uch Comp an y Par t y has one or mor e Subs idiar ies, and, unl es s ot her wis e indicat ed, t he t er m Subs idiar y r ef er s t o a Subs idiar y of any Comp an y Par t y. Su bs t it ut ed Ot her Unit hol der me an s a Per s on t hat is admit t e d as an Ot h e r Unit hol der t o t he Comp an y pur s uant t o Sect ion 13.1. Succes s or Man age r me an s any Per s on admit t e d as a man age r of t he Comp an y pur s uant t o Sect ion 13.3. Tax Mat t e r s Par t ner has t he me an ing given t o s uch t er m in Sect ion 6231 of t he Code. Taxabl e Year me an s t he Comp an y s account ing per iod f or f eder al income t ax pur pos es det er min e d pur s uant t o Sect ion 8.2. Tr e as u r y Regul at ions me an s t he income t ax r egul at ions pr omu l g at e d u n d e r t he Code and ef f ect ive as of t he dat e her eof. Such t er m s hal l at t he Ma n a g e r s s ol e dis cr et ion be deeme d t o incl ude any f ut ur e ame n d me n t s t o s uch r egul at ions and any cor r es ponding pr ovis ions of s ucceeding r egul at ions which ar e man dat or y; pr ovided t hat t he Man age r may not adopt any s uch ame n d me n t s and s ucceeding r egul at ions t hat it det er min e s mat e r ial l y and adver s el y af f ect s t he economic int er es t s of t he Unit hol der s her eunder. Such t er m s hal l al s o be deeme d t o incl ude at t he Man age r s s ol e dis cr et ion any f ut ur e ame n d me n t s or s ucceeding r egul at ions which cal l f or an el ect ion by t he Comp an y as t o t he appl icat ion of ame n d me n t s or s ucceeding r egul at ions t o t he Comp an y if t he Man age r s o el ect s ; pr ovided t h at t he Man age r may not adopt any s uch ame n d me n t s and s ucceeding r egul at ions t hat it det er min e s mat e r ial l y and adver s el y af f ect t he economic int er es t s of t he Unit hol der s her eunder.

Tie r e d In t er es t s hal l have t he me an ing as cr ibed in s ect ion 10.1. Un it me an s a Comp an y In t er es t of a Unit hol der in t he Comp an y r e pr e s e n t ing a f r act ional par t of t he Comp an y In t er es t s of al l Unit hol der s and s hal l incl ude Cl as s A Unit s and Cl as s B Unit s ; pr ovided t hat any cl as s of Unit s is s ued s hal l have des ignat ions, pr ef er ences, or s pecial r ight s s et f or t h in t his Agr e e me n t and t he Comp an y In t er es t r epr es ent ed by s uch cl as s of Unit s s hal l be det er min e d in accor dance wit h s uch des ignat ions, pr ef er ences, or s pecial r ight s. Un it hol der me an s any owner of one or mor e Unit s as r ef l ect ed on t he Comp an y s books and r ecor ds. Un r e t u r n e d Capit al me an s, wit h r es pect t o a Unit, t he Capit al Con t r ibut ion made in exc h an ge f or or on account of s uch Unit r educed by al l Dis t r ibut ions made by t he Comp an y t hat cons t it ut e a r et ur n of t he Capit al Con t r ibut ion t her ef or. ARTICLE 2 ORG AN IZATIO N AL MATTERS 2.1 Org a nization of Company. Th e Me mb e r s her eby agr ee t o f or m t he Comp an y as a l imit e d l iabil it y comp an y pur s uant t o t he pr ovis ions of t he De l awar e Ac t. Except as expr e s s l y pr ovided her ein t o t he cont r ar y, t he r ight s and obl igat ions of t he Me mb e r s and t he admin is t r at ion and t er min at ion of t he Comp an y s hal l be gover n ed by t he Del awar e Ac t. 2.2 Name. Th e name of t he Comp an y s hal l be, L.L.C. Th e Man age r in it s s ol e dis cr et ion may change t he name of t he Comp an y at any t ime and f r om t ime t o t ime. Not if icat ion of any s uch change s hal l be given t o al l Unit hol der s. Th e Comp an y s bus ines s may be conduct ed under it s name and/or any ot her name or name s deeme d advis abl e by t he Ma n a g e r. 2.3 Purpose. Th e pur pos e and bus ines s of t he Comp an y s hal l be any bu s ines s which may l awf ul l y be conduct ed by a l imit e d l iabil it y comp an y or gan ized pur s uant t o t he Del awar e Ac t incl uding wit hout l imit at ion owning, oper at ing, and s el l ing t he Comp an y. 2.4 Principa l Office ; Re g istere d Office. Th e pr incipal of f ice of t he Comp an y s hal l be at, or s uch ot her pl ace as t he Ma n a g e r may f r om t ime t o t ime des ignat e. Th e Comp an y may maint ain of f ices at s uch ot her pl ace or pl aces as t he Man age r deems advis abl e. Not if icat ion of any s uch change s hal l be given t o al l Unit hol der s. Th e addr es s of t he r egis t er ed of f ice of t he Comp an y in t he St at e of Del awar e s hal l be c/o,, Del awar e, and t he r egis t er ed agent f or s er vice of pr oces s on t he Comp an y in t he St at e of Del awar e at s uch r egis t er ed of f ice s hal l be. 2.5 Term. Th e t er m of t he Comp an y s hal l comme n c e upon t he f il ing of t he Cer t if icat e of For mat ion in accor dance wit h t he Del awar e Ac t and s hal l cont inue indef init el y or unt il t he ear l ier t er min at ion of t he Comp an y in accor dance wit h t he pr ovis ions of Ar t icl e 15. ARTICLE3