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Exhibit 10.1

FOURTH AMENDMENT

THIS FOURTH AMENDMENT (this "Amendment"), dated as of September 27, 2002, is
entered into by and among LOUISIANA-PACIFIC CORPORATION, a Delaware corporation
(the "Borrower"), BANK OF AMERICA, N.A., as agent for the Lenders (the
"Administrative Agent") and those financial institutions parties to the Credit
Agreement as defined below (collectively, the "Lenders") signatory hereto.

RECITALS

        A.    The Borrower, the Lenders and the Administrative Agent are parties
to a Credit Agreement dated as of November 15, 2001 (as amended, modified or
supplemented from time to time, including, without limitation, pursuant to the
Third Amendment, dated as of August 2, 2002 the "Credit Agreement"), pursuant to
which the Administrative Agent and the Lenders have extended certain credit
facilities to the Borrower.

        B.    The Borrower has reported to the Administrative Agent that
Schedule 5.13 to the Credit Agreement needs to be updated in order to report the
occurrence of an ERISA Event. The Borrower has requested that the Administrative
Agent and the Lenders agree to amend Schedule 5.13 to the Credit Agreement to
reflect such event.

        C.    The Lenders have agreed to such amendment subject to the terms and
conditions of this Amendment.

        NOW, THEREFORE, the parties hereto hereby agree as follows:

        1.    Defined Terms.    Unless otherwise defined herein, capitalized
terms used herein shall have the meanings assigned to them in the Credit
Agreement.

        2.    Amendment.    Schedule 5.13 to the Credit Agreement is amended and
restated as set forth on the replacement Schedule 5.13 attached hereto.

        3.    Representations and Warranties.    The Borrower hereby represents
and warrants as follows:

        (a)  No Default or Event of Default has occurred and is continuing
(including without, limitation, any Default or Event of Default under
Section 8.01(i) of the Loan Agreement).

        (b)  The execution, delivery and performance by the Borrower of this
Amendment has been duly authorized by all necessary corporate and other action
and does not and will not require any registration with, consent or approval of,
notice to or action by, any person (including any Governmental Authority) in
order to be effective and enforceable. The Credit Agreement, as amended by this
Amendment, constitutes the legal, valid and binding obligation of the Borrower,
enforceable against the Borrower in accordance with its terms, without defense,
counterclaim or offset except as such enforcement may be limited by applicable
bankruptcy, insolvency, reorganization or other similar laws relating to or
limiting creditors' rights generally or by equitable principles relating to
enforceability whether enforcement is sought in a proceeding at law or in
equity.

        (c)  After giving effect to this Amendment, all its representations and
warranties contained in the Credit Agreement are true and correct as though made
on and as of the Effective Date (as defined below) (except to the extent such
representations and warranties specifically relate to an earlier date, in which
case they were true and correct as of such earlier date).

        (d)  It is entering into this Amendment on the basis of its own
investigation and for its own reasons, without reliance upon the Administrative
Agent, the Lenders (except for the performance of the terms hereof applicable to
them) or any other person.

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        4.    Effective Date.    This Amendment will become effective as of the
date first written above (the "Effective Date") provided that the Administrative
Agent has received an original or facsimile of this Amendment duly executed by
the Required Lenders and the Borrower.

        5.    Reservation of Rights.    The Borrower acknowledges and agrees
that the execution and delivery of this Amendment by the Administrative Agent
and the Lenders party hereto shall not be deemed to create a course of dealing
or otherwise obligate the Administrative Agent or any Lender to execute similar
consents under the same or similar circumstances in the future.

        6.    Miscellaneous.    

        (a)  Except as expressly set forth herein, this Amendment shall not by
implication or otherwise limit, impair, constitute a waiver of, or otherwise
affect the rights or remedies of the Administrative Agent or the Lenders under
the Credit Agreement, the Loan Documents, or any related documents, and shall
not alter, modify, amend, or in any way affect the terms, conditions,
obligations, covenants, or agreements contained in the Credit Agreement, the
Loan Documents, or any related documents, all of which are hereby ratified and
affirmed in all respects and shall continue in full force and effect.

        (b)  This Amendment shall be binding upon and inure to the benefit of
the parties hereto and thereto and their respective successors and assigns. No
third party beneficiaries are intended in connection with this Amendment.

        (c)  This Amendment, shall be governed by, and construed in accordance
with, the law of the state of New York applicable to agreements made and to be
performed entirely within such state; provided that the Administrative Agent and
each Lender shall retain all rights arising under federal law.

        (d)  This Amendment, may be executed in any number of counterparts, each
of which shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument.

        (e)  This Amendment, together with the Credit Agreement, contains the
entire and exclusive agreement of the parties hereto with reference to the
matters discussed herein and therein. This Amendment, supersedes all prior
drafts and communications with respect thereto. This Amendment may not be
amended except in accordance with the provisions of Section 10.1 of the Credit
Agreement.

        (f)    If any term or provision of this Amendment, shall be deemed
prohibited by or invalid under any applicable law, such provision shall be
invalidated without affecting the remaining provisions of this Amendment or the
Credit Agreement, respectively.

        (g)  The Borrower hereby covenants to pay or to reimburse the
Administrative Agent and the Lenders, upon demand, for all reasonable costs and
expenses (including reasonable attorney fees and expenses) incurred in
connection with the development, preparation, negotiation, execution and
delivery of this Amendment.

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        IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date first above written.

    LOUISIANA-PACIFIC CORPORATION,
as the Borrower
 
 
By:
/s/  J.K. MATHENEY      

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    Name: J.K. Matheney

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    Title: Executive Vice President

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    BANK OF AMERICA, N.A.,
as Administrative Agent, an L/C Issuer and a Lender
 
 
By:
/s/  MICHAEL BALOK      

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    Name: Michael Balok

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    Title: Managing Director

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    WACHOVIA BANK, N.A.,
as Syndication Agent and a Lender
 
 
By:
/s/  CHRIS ABE      

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    Name: Chris Abe

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    Title: Manager

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    ROYAL BANK OF CANADA,
as Documentation Agent and a Lender
 
 
By:
/s/  SHAWN JANKO      

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    Name: Shawn Janko

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    Title: Vice President

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    THE BANK OF NOVA SCOTIA,
as a Lender
 
 
By:
/s/  PATRICK F. NORRIS      

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    Name: Patrick F. Norris

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    Title: Director

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REPLACEMENT SCHEDULE 5.13
5.13(c) ERISA Compliance

5.13(c)(i)

        On May 8, 2002, the Company announced a program of facility sales and
closures that to the extent implemented could result in a reduction under ERISA
Section 4040(c)(3) of more than 20 percent of the active participants in 2002 or
2003, or more than 25 percent of the active participants in 2002 and 2003, in
either or both of the Louisiana-Pacific Retirement Account Plan or the
ABTco Inc. Retirement Plan.

        The plan participant data currently available indicates that a
reportable event has occurred as of September 13, 2002, with regard to the
Louisiana-Pacific Corporation Retirement Account Plan only, as a result of an
active participant reduction of 20% in 2002 for that plan. Plan actuaries have
determined that there is no waiver applicable to the PBGC Form 10 filing, and LP
plans to file the PBGC Form 10 within the thirty day period. The current and
anticipated future levels of participant reductions may constitute a partial
termination of either or both plans, in which event the affected participants
must under tax qualified plan law be vested to the extent their benefits are
already funded. The Company has decided to fully vest the affected participants
who are not already vested, by Plan amendment, instead of incurring the
substantial administrative expenses and uncertainties of a vesting to the extent
funded determination. The value of the benefits to be fully vested will not
exceed $5,000,000.00.

5.13(c)(ii)

        The Company sponsors the Louisiana-Pacific Corporation Retirement
Account Plan. Originally this was a defined benefit pension plan covering
certain hourly employees of LP. Effective January 1, 2000, this was converted to
a cash balance plan covering most non-bargained employees. As of January 1,
2002, on an ongoing basis, the Plan has a surplus of approximately $1,000,000.
As of January 1, 2002, on a plan termination basis, the Plan has an unfunded
liability of approximately $29,000,000.

        The Company sponsors the ABTco, Inc. Retirement Plan. This is a defined
benefit plan covering bargained and non-bargained employees of ABTco. As of
January 1, 2002, on an ongoing basis, the Plan has a surplus of approximately
$1,000,000. As of January 1, 2002, on a plan termination basis, the Plan has an
unfunded liability of approximately $14,000,000.

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Exhibit 10.1