0001193125-07-046516 Sample Contracts

ADMINISTRATION AGREEMENT
Administration Agreement • March 5th, 2007 • Pennant Investment CORP • New York

AGREEMENT (this “Agreement”) made as of [ ], 2007 by and between Pennant Investment Corporation, a Maryland corporation (hereinafter referred to as the “Corporation”), and Pennant Investment Administration, LLC, a Delaware limited liability company, (hereinafter referred to as the “Administrator”).

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INVESTMENT ADVISORY MANAGEMENT AGREEMENT BETWEEN PENNANT INVESTMENT CORPORATION AND PENNANT INVESTMENT ADVISERS, LLC
Investment Advisory Management Agreement • March 5th, 2007 • Pennant Investment CORP • New York

Agreement made this day of 2007, by and between PENNANT INVESTMENT CORPORATION, a Maryland corporation (the “Corporation”), and PENNANT INVESTMENT ADVISERS, LLC, a Delaware limited liability company (the “Adviser”).

TRADEMARK LICENSE AGREEMENT
Trademark License Agreement • March 5th, 2007 • Pennant Investment CORP • New York

This TRADEMARK LICENSE AGREEMENT (this “Agreement”) is made and effective as of January , 2007 (the “Effective Date”), by and between Pennant Investment Advisers, LLC a Delaware limited liability company (the “Licensor” or “Adviser”), and Pennant Investment Corporation, a corporation organized under the laws of the State of Maryland (“Corporation”) (each a “party,” and collectively, the “parties”).

Interim Advisory Management Agreement between Pennant Investment Corporation and Pennant Investment Advisers, LLC
Interim Advisory Management Agreement • March 5th, 2007 • Pennant Investment CORP • New York

Agreement made this 18th day of January 2007 (this “Agreement”), by and between PENNANT INVESTMENT CORPORATION, a Maryland corporation (the “Corporation”), and PENNANT INVESTMENT ADVISERS, LLC, a Delaware limited liability company (the “Adviser”).

CREDIT AGREEMENT dated as of February 6, 2007 between Pennant SPV Company, LLC, as Borrower, and Bear Stearns Investment Products Inc., as Lender
Credit Agreement • March 5th, 2007 • Pennant Investment CORP • New York

CREDIT AGREEMENT (this “Agreement”), dated as of February 6, 2007 between Pennant SPV Company, LLC, a limited liability company organized under the laws of Delaware (the “Borrower”) and Bear Stearns Investment Products Inc. (the “Lender”).

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