AMENDMENT NUMBER SIX TO CREDIT AGREEMENT
THIS AMENDMENT NUMBER SIX TO CREDIT AGREEMENT (this “Amendment”), dated as of
April 30, 2015, is entered into by and among the lenders identified on the
signature pages hereof (such Lenders, together with their respective successors
and permitted assigns, are referred to hereinafter each individually as a
“Lender” and, collectively, as the “Lenders”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association (“Wells Fargo”), as administrative
agent for each member of the Lender Group and the Bank Product Providers (as
such terms are defined in the below referenced Credit Agreement) (in such
capacity, together with its successors and assigns in such capacity, “Agent”),
ERICKSON INCORPORATED, a Delaware corporation (formerly known as Erickson
Air-Crane Incorporated) (“EAC”), ERICKSON HELICOPTERS, INC. (formerly known as
Evergreen Helicopters, Inc.), an Oregon corporation (“Helicopters”)
(Helicopters, together with EAC, are referred to hereinafter each individually
as a “Borrower”, and individually and collectively, jointly and severally, as
the “Borrowers”), the Subsidiaries of Borrowers identified on the signature
pages hereof (such Subsidiaries are referred to hereinafter each individual as a
“Guarantor”, and individually and collectively, jointly and severally, as the
“Guarantors”), and in light of the following:
W I T N E S S E T H
WHEREAS, Lenders, Agent, Wells Fargo, as lead arranger, book runner, syndication
agent, and documentation agent, and Borrowers are parties to that certain Credit
Agreement, dated as of May 2, 2013 (as amended, restated, supplemented, or
otherwise modified from time to time, the “Credit Agreement”);
WHEREAS, Borrowers have informed Agent and the Lenders that EAC wishes to
potentially consummate a sale-leaseback transaction with respect to the Medford
Hangar;
WHEREAS, Borrowers have requested Agent and the Lenders permit the
sale-leaseback of the Medford Hangar and make certain other amendments to the
Credit Agreement; and
WHEREAS, upon the terms and conditions set forth herein, Agent and Lenders are
willing to accommodate Borrowers’ requests.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
herein contained, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
1.Defined Terms. All initially capitalized terms used herein (including the
preamble and recitals hereof) without definition shall have the meanings
ascribed thereto in the Credit Agreement (including Schedule 1.1 thereto).

2.Amendments. Subject to the satisfaction of the conditions precedent set forth
in Section 4 hereof:
(a)Schedule 1.1 to the Credit Agreement is hereby amended by inserting the
following definition in proper alphabetical order:

“Permitted Medford Sale-Leaseback and Exchange Transactions” means the sale or
other disposition of the Medford Hangar by a Loan Party in a transaction in
which the following conditions are satisfied: (a) immediately before and after
giving effect to such sale or other disposition, no Event of Default shall have
occurred and be continuing or would result therefrom, (b) such sale or other
disposition is for fair market value, (c) either (i) such sale or other
disposition is in exchange for like property for use

1

--------------------------------------------------------------------------------

in the ordinary course of business of the Loan Parties to the extent allowable
under Section 1031 of the IRC or (ii) such Loan Party leases back the Medford
Hanger at fair market value, (d) such sale or other disposition is to a Person
that is not an Affiliate of a Loan Party or if such sale is to a Person that is
an Affiliate of a Loan Party, such sale is no less favorable, taken as a whole,
to a Loan Party than would be obtained in an arm’s length transaction with a
non-Affiliate, and (e) such transaction is permitted to be consummated pursuant
to the terms of the Senior Notes Documents.

(b)Schedule 1.1 to the Credit Agreement is hereby amended by (i) deleting the
“and” at the end of clause (q) of the definition of “Permitted Dispositions”,
and (ii) amending and restating clause (r) of the definition of “Permitted
Dispositions” and adding a new clauses (s) of the definition of “Permitted
Dispositions” as follows:

(r) Permitted Medford Sale-Leaseback and Exchange Transactions, and
(s) sales or dispositions of assets (other than Accounts, Inventory, and Equity
Interests of Subsidiaries of EAC) not otherwise permitted in clauses (a) through
(r) above so long as (i) made at fair market value, (ii) made pursuant to
clauses (1) or (15) of the definition of Asset Sale in the Senior Note Indenture
(and subject to satisfaction of the conditions precedent of such clause as such
conditions precedent appear as of the Closing Date); and (iii) the aggregate
fair market value of all assets disposed of in any fiscal year (including the
proposed disposition) would not exceed $25,000,000.
(c)    Schedule 5.2 to the Credit Agreement is hereby amended and restated in
its entirety in the form of Schedule 5.2 attached hereto.

3.Agreement Regarding Amendment Number Four. Subject to the satisfaction of the
conditions precedent set forth in Section 4 hereof, Section 3(b) of that certain
Amendment Number Four to Credit Agreement and Waiver, dated as of October 24,
2013, by and among Agent, the Lenders party thereto, and the Loan Parties is
hereby amended and restated in its entirety as follows:

“(b)    Borrowers hereby covenant and agree that upon the occurrence and during
the continuance of an Event of Default, Borrowers shall comply with Section 5.12
of the Credit Agreement and Section 7(i) of the Guaranty and Security Agreement
with respect to the Medford Hangar within 10 Business Days of Agent’s written
request therefor if such Real Property is owned in fee by a Loan Party and is
not already encumbered by Liens permitted pursuant to clause (r) of the
definition of “Permitted Liens”.”

4.Conditions Precedent to Amendment. This Amendment shall be effective upon the
satisfaction or waiver of each of the following conditions precedent:

(a)Agent shall have received this Amendment, duly executed by the parties
hereto, and the same shall be in full force and effect.

(b)The representations and warranties herein and in the Credit Agreement and the
other Loan Documents as amended hereby shall be true, correct and complete in
all material respects (except that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof) on and as of the date hereof, as
though made on such date (except to the extent that such representations and
warranties relate solely to an earlier date, in which case such representations
and warranties shall be true, correct and complete in all material respects as
of such earlier date).

2

--------------------------------------------------------------------------------

(c)Borrowers shall have paid all fees, costs, expenses and taxes then payable
pursuant to the Credit Agreement as therein provided.

(d)No injunction, writ, restraining order, or other order of any nature
prohibiting, directly or indirectly, the consummation of the transactions
contemplated herein shall have been issued and remain in force by any
Governmental Authority against any Loan Party, Agent, or any Lender.

5.Representations and Warranties. Each Loan Party hereby represents and warrants
to Agent and the Lenders as follows:

(a)It (i) is duly organized and existing and in good standing under the laws of
the jurisdiction of its organization, (ii) is qualified to do business in any
state where the failure to be so qualified could reasonably be expected to
result in a Material Adverse Effect, and (iii) has all requisite power and
authority to own and operate its properties, to carry on its business as now
conducted and as proposed to be conducted, to enter into this Amendment and the
other Loan Documents to which it is a party and to carry out the transactions
contemplated hereby and thereby.

(b)The execution, delivery, and performance by it of this Amendment and the
other Loan Documents to which it is a party (i) have been duly authorized by all
necessary action on the part of such Loan Party and (ii) do not and will not (A)
violate any material provision of federal, state, or local law or regulation
applicable to such Loan Party, the Governing Documents of Borrower, or any
order, judgment, or decree of any court or other Governmental Authority binding
on such Loan Party, (B) conflict with, result in a breach of, or constitute
(with due notice or lapse of time or both) a default under any Material Contract
of such Loan Party except to the extent that any such conflict, breach or
default could not individually or in the aggregate reasonably be expected to
have a Material Adverse Effect, (C) result in or require the creation or
imposition of any Lien of any nature whatsoever upon any assets of such Loan
Party, other than Permitted Liens, (D) require any approval of such Loan Party’s
interest holders or any approval or consent of any Person under any Material
Contract of such Loan Party, other than consents or approvals that have been
obtained and that are still in force and effect and except, in the case of
Material Contracts, for consents or approvals, the failure to obtain could not
individually or in the aggregate reasonably be expected to cause a Material
Adverse Effect, or (E) require any registration with, consent, or approval of,
or notice to, or other action with or by, any Governmental Authority, other than
registrations, consents, approvals, notices, or other actions that have been
obtained and that are still in force and effect and except for filings and
recordings with respect to the Collateral to be made, or otherwise delivered to
Agent for filing or recordation in connection with this Amendment.

(c)This Amendment has been duly executed and delivered by each Loan Party. This
Amendment and each Loan Document to which such Loan Party is a party is the
legally valid and binding obligation of such Loan Party, enforceable against
such Loan Party in accordance with its respective terms, except as enforcement
may be limited by equitable principles or by bankruptcy, insolvency,
reorganization, moratorium, or similar laws relating to or limiting creditors’
rights generally.

(d)No injunction, writ, restraining order, or other order of any nature
prohibiting, directly or indirectly, the consummation of the transactions
contemplated herein has been issued and remains in force by any Governmental
Authority against any Loan Party, Agent or any Lender.

(e)No Default or Event of Default has occurred and is continuing as of the date
of the effectiveness of this Amendment, and no condition exists which
constitutes a Default or an Event of Default.

3

--------------------------------------------------------------------------------

(f)The representations and warranties in the Credit Agreement and the other Loan
Documents as amended hereby are true, correct and complete in all material
respects (except that such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by
materiality in the text thereof) on and as of the date hereof, as though made on
such date (except to the extent that such representations and warranties relate
solely to an earlier date, in which case such representations and warranties
shall be true, correct and complete in all material respects as of such earlier
date).

6.Reserved.

7.Payment of Costs and Fees. Borrowers agree to pay all out-of-pocket costs and
expenses of Agent (including, without limitation, the reasonable fees and
disbursements of outside counsel to Agent) in connection with the preparation,
negotiation, execution and delivery of this Amendment and any documents and
instruments relating hereto.

8.Release.

(a)Each Loan Party hereby acknowledges and agrees that as of April __, 2015, the
aggregate outstanding principal amount of Loans under the Credit Agreement and
the other Loan Documents was $_________ and that such principal amount is
payable pursuant to the Credit Agreement and the other Loan Documents as
modified hereby without defense, offset, withholding, counterclaim, or deduction
of any kind.
(a)    Effective on the date hereof, each Loan Party, for itself and on behalf
of its successors, assigns, and officers, directors, employees, agents and
attorneys, and any Person acting for or on behalf of, or claiming through it,
hereby waives, releases, remises and forever discharges each member of the
Lender Group, each Bank Product Provider, and each of their respective
Affiliates, and each of their respective successors in title, past, present and
future officers, directors, employees, limited partners, general partners,
investors, attorneys, assigns, subsidiaries, shareholders, trustees, agents and
other professionals and all other persons and entities to whom any member of the
Lenders would be liable if such persons or entities were found to be liable to
such Loan Party (each a “Releasee” and collectively, the “Releasees”), from any
and all past, present and future claims, suits, liens, lawsuits, adverse
consequences, amounts paid in settlement, debts, deficiencies, diminution in
value, disbursements, demands, obligations, liabilities, causes of action,
damages, losses, costs and expenses of any kind or character, whether based in
equity, law, contract, tort, implied or express warranty, strict liability,
criminal or civil statute or common law (each a “Claim” and collectively, the
“Claims”), whether known or unknown, fixed or contingent, direct, indirect, or
derivative, asserted or unasserted, matured or unmatured, foreseen or unforseen,
past or present, liquidated or unliquidated, suspected or unsuspected, which
such Loan Party ever had from the beginning of the world to the date hereof, or
now has, against any such Releasee which relates, directly or indirectly to the
Credit Agreement, any other Loan Document, or to any acts or omissions of any
such Releasee with respect to the Credit Agreement or any other Loan Document,
or to the lender-borrower relationship evidenced by the Loan Documents, except
for the duties and obligations set forth in any of the Loan Documents or in this
Amendment. As to each and every Claim released hereunder, each Loan Party hereby
represents that it has received the advice of legal counsel with regard to the
releases contained herein, and having been so advised, specifically waives the
benefit of the provisions of Section 1542 of the Civil Code of California which
provides as follows:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF

4

--------------------------------------------------------------------------------

EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY
AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

As to each and every Claim released hereunder, each Loan Party also waives the
benefit of each other similar provision of applicable federal or state law
(including without limitation the laws of the state of California), if any,
pertaining to general releases after having been advised by its legal counsel
with respect thereto.

Each Loan Party each acknowledges that it may hereafter discover facts different
from or in addition to those now known or believed to be true with respect to
such Claims and agrees that this instrument shall be and remain effective in all
respects notwithstanding any such differences or additional facts. Each Loan
Party understands, acknowledges and agrees that the release set forth above may
be pleaded as a full and complete defense and may be used as a basis for an
injunction against any action, suit or other proceeding which may be instituted,
prosecuted or attempted in breach of the provisions of such release.

(c)    Each Loan Party, for itself and on behalf of its successors, assigns, and
officers, directors, employees, agents and attorneys, and any Person acting for
or on behalf of, or claiming through it, hereby absolutely, unconditionally and
irrevocably, covenants and agrees with and in favor of each Releasee above that
it will not sue (at law, in equity, in any regulatory proceeding or otherwise)
any Releasee on the basis of any Claim released, remised and discharged by such
Person pursuant to the above release. If any Loan Party or any of its respective
successors, assigns, or officers, directors, employees, agents or attorneys, or
any Person acting for or on behalf of, or claiming through it violate the
foregoing covenant, such Person, for itself and its successors, assigns and
legal representatives, agrees to pay, in addition to such other damages as any
Releasee may sustain as a result of such violation, all attorneys’ fees and
costs incurred by such Releasee as a result of such violation.

9.    Choice of Law and Venue; Jury Trial Waiver; Judicial Reference. THIS
CONSENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING CHOICE OF LAW AND VENUE,
JURY TRIAL WAIVER, AND JUDICIAL REFERENCE SET FORTH IN SECTION 12 OF THE CREDIT
AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE,
MUTATIS MUTANDIS.

10.    Amendments. This Amendment cannot be altered, amended, changed or
modified in any respect or particular unless each such alteration, amendment,
change or modification is made in accordance with the terms and provisions of
Section 14.1 of the Credit Agreement.

11.    Counterpart Execution. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which, when executed and delivered, shall be deemed to be an original, and all
of which, taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of this Amendment by facsimile or other
electronic method of transmission shall be equally effective as delivery of an
original executed counterpart of this Amendment. Any party delivering an
executed counterpart of this Amendment by facsimile or other electronic method
of transmission also shall deliver an original executed counterpart of this
Amendment, but the failure to deliver an original executed counterpart shall not
affect the validity, enforceability, and binding effect of this Amendment.

12.    Effect on Loan Documents.

5

--------------------------------------------------------------------------------

(a)    The Credit Agreement, as modified hereby and as amended as of the date
hereof, and each of the other Loan Documents, as amended as of the date hereof,
shall be and remain in full force and effect in accordance with their respective
terms and hereby are ratified and confirmed in all respects. The execution,
delivery, and performance of this Amendment shall not operate, except as
expressly set forth herein, as a waiver of, consent to, or a modification or
amendment of, any right, power, or remedy of Agent or any Lender under the
Credit Agreement or any other Loan Document. Except for the modifications and
consents expressly set forth herein, the Credit Agreement and the other Loan
Documents shall remain unchanged and in full force and effect.

(b)    Upon and after the effectiveness of this Amendment, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words
of like import referring to the Credit Agreement, and each reference in the
other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”,
“thereof” or words of like import referring to the Credit Agreement, shall mean
and be a reference to the Credit Agreement as modified hereby.

(c)    To the extent that any of the terms and conditions in any of the Loan
Documents shall contradict or be in conflict with any of the terms or conditions
of the Credit Agreement, after giving effect to this Amendment, such terms and
conditions are hereby deemed modified accordingly to reflect the terms and
conditions of the Credit Agreement as modified hereby.

(d)    This Amendment is a Loan Document.

(e)    Unless the context of this Amendment clearly requires otherwise,
references to the plural include the singular, references to the singular
include the plural, the terms “includes” and “including” are not limiting, and
the term “or” has, except where otherwise indicated, the inclusive meaning
represented by the phrase “and/or”. The words “hereof”, “herein”, “hereby”,
“hereunder”, and similar terms in this Agreement refer to this Agreement as a
whole and not to any particular provision of this Agreement. Section,
subsection, clause, schedule, and exhibit references herein are to this
Agreement unless otherwise specified. Any reference in this Agreement to any
agreement, instrument, or document shall include all alterations, amendments,
changes, extensions, modifications, renewals, replacements, substitutions,
joinders, and supplements, thereto and thereof, as applicable (subject to any
restrictions on such alterations, amendments, changes, extensions,
modifications, renewals, replacements, substitutions, joinders, and supplements
set forth herein). The words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts, and contract
rights. Any reference herein to any Person shall be construed to include such
Person’s successors and assigns.

13.    Entire Agreement. This Amendment, and the terms and provisions hereof,
the Credit Agreement and the other Loan Documents constitute the entire
understanding and agreement between the parties hereto with respect to the
subject matter hereof and supersede any and all prior or contemporaneous
amendments or understandings with respect to the subject matter hereof, whether
express or implied, oral or written.

14.    Reaffirmation of Obligations. Each Loan Party hereby reaffirms its
obligations under each Loan Document to which it is a party. Each Loan Party
hereby further ratifies and reaffirms the validity and enforceability of all of
the Liens and security interests heretofore granted, pursuant to and in
connection with the Guaranty and Security Agreement, the Aircraft and Engine
Security Agreement, or any other Loan Document, to Agent, as collateral security
for the obligations under the Loan Documents in accordance with their respective
terms, and acknowledges that all of such Liens and security interests, and all
collateral

6

--------------------------------------------------------------------------------

heretofore pledged as security for such obligations, continue to be and remain
collateral for such obligations from and after the date hereof. Each Loan Party
hereby further does grant to Agent, for the benefit of each member of the Lender
Group and the Bank Product Providers, a perfected security interest in the
Collateral (as defined in the Guaranty and Security Agreement), the Collateral
(as defined in the Aircraft and Engine Security Agreement), and the Collateral
(as defined in the Spare Parts Security Agreement) in order to secure all of its
present and future obligations under the Loan Documents.

15.    Severability. In case any provision in this Amendment shall be invalid,
illegal or unenforceable, such provision shall be severable from the remainder
of this Amendment and the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

16.    Guarantors. Each of the undersigned Guarantors consent to the matters
contained herein. Although the undersigned Guarantors have been informed of the
matters set forth herein and have consented to same, each Guarantor understands
that no member of the Lender Group has any obligation to inform it of such
matters in the future or to seek its acknowledgement or agreement to future
consents, waivers, or amendments related to the Credit Agreement, and nothing
herein shall create such a duty.

[signature page follows]

7

--------------------------------------------------------------------------------

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

 
ERICKSON INCORPORATED,
a Delaware corporation

By: _________________________________
Name: _________________________________
Title: _________________________________

 
EAC ACQUISITION CORPORATION, a Delaware corporation 

 
By: _________________________________
Name: _________________________________
Title: _________________________________

 
ERICKSON HELICOPTERS, INC.,
an Oregon corporation

By: _________________________________
Name: _________________________________
Title: _________________________________

 
ERICKSON TRANSPORT, INC.,
an Alaska corporation 

 
By: _________________________________
Name: _________________________________
Title: _________________________________

 
EVERGREEN HELICOPTERS INTERNATIONAL, INC., a Texas corporation 

 
By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]

--------------------------------------------------------------------------------

 
EVERGREEN EQUITY, INC., a Nevada corporation 

 
By: _________________________________
Name: _________________________________
Title: _________________________________

 
EVERGREEN UNMANNED SYSTEMS, INC., a Delaware corporation 

 
By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]

--------------------------------------------------------------------------------

 
WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as
Agent, Issuing Bank, and a Lender
 
 
By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]

--------------------------------------------------------------------------------

 
HSBC BANK USA NA,
as a Lender
 
 
By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]

--------------------------------------------------------------------------------

 
BANK OF THE WEST,
as a Lender
 
 
By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]

--------------------------------------------------------------------------------

 
DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender
 
 
By: _________________________________
Name: _________________________________
Title: _________________________________

By: _________________________________
Name: _________________________________
Title: _________________________________

[SIGNATURE PAGE TO AMENDMENT NUMBER SIX TO CREDIT AGREEMENT]