Document:

Potlatch Corporation Benefits Protection Trust

  
 Exhibit (10)(h) 
  
 POTLATCH CORPORATION 
 BENEFITS PROTECTION TRUST AGREEMENT 

 
 As Amended and Restated Effective September 20, 2002 

 POTLATCH CORPORATION 
 BENEFITS
PROTECTION TRUST AGREEMENT 
  
 
	  	  	 Page
 

	 Section 1     Definitions
 	  	 2
 
	 
	 Section 2     Creation of Trust; Contributions
 	  	 6
 
	 
	 Section 3     Payments from the Trust
 	  	 8
 
	 
	 Section 4     Management of Trust Assets
 	  	 11
 
	 
	 Section 5     Powers of Trustee
 	  	 14
 
	 
	 Section 6     Taxes, Expenses and Compensation of Trustee
 	  	 16
 
	 
	 Section 7     Records and Accounting
 	  	 17
 
	 
	 Section 8     Indemnification
 	  	 17
 
	 
	 Section 9     Administration of the Plans; Communications
 	  	 18
 
	 
	 Section 10   Resignation or Removal of Trustee 
 	  	 18
 
	 
	 Section 11   Amendment of Agreement; Termination of Trust
 	  	 20
 
	 
	 Section 12   Governing Law; Severability
 	  	 21
 

 

  
 POTLATCH CORPORATION 
 BENEFITS PROTECTION TRUST AGREEMENT 
  
 As Amended and Restated
Effective September 20, 2002 
  
 This amended and restated Trust Agreement, originally made as of the first day
of January, 1990, by and between POTLATCH CORPORATION, a Delaware corporation (the “Company”) and U.S. Bank National Association (formerly First Trust National Association)(the “Trustee”), and amended and restated to read as
follows effective September 20, 2002. 
  
 WITNESSETH: 
  
 Whereas the Company has adopted the nonqualified plans, programs and policies and has entered into the contracts listed on Schedule 1 (collectively, the
“Plans”) and may adopt or enter into other such plans, programs, policies and contracts which will be listed from time to time on Schedule 1; and 
  
 Whereas the Company’s obligations pursuant to the Plans are not funded or otherwise secured and the Company desires to take steps to assure that, subject to the claims of the Company’s
general creditors, the future payment of amounts under the Plans will not be improperly withheld in the event that a Change of Control (as hereinafter defined) of the Company should occur; 
  

 
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 Now, Therefore, the Company and the Trustee agree as follows:

  
 SECTION 1.  Definitions 
  

(a)  “Benefit Commitments” means: 
  
 (i)  all benefits that are accrued or payable (whether on a current or deferred basis) under the Plans as of the date of the Change of Control and 
  
 (ii)  all benefits that may become payable under the Plans as in effect on the date of the Change of Control as
a result of termination of a participant’s employment after such Change of Control, as described in Section 2(d). 
  
 (b)  “Change of Control” means: 
  
 (i)  Upon
consummation of a reorganization, merger or consolidation involving the Company (a “Business Combination”), in each case, unless, following such Business Combination, 
  
 (A)  all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the then outstanding shares of
common stock of the Company (the “Outstanding Common Stock”) and the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Voting Securities”) immediately
prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company either directly or through one or more
subsidiaries),  
  

 
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 (B)  no Person (as defined in (iii) below) (excluding
any corporation resulting from such Business Combination or any employee benefit plan (or related trust) sponsored or maintained by the Company or such other corporation resulting from such Business Combination) beneficially owns, directly or
indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to
the extent that such ownership is based on the beneficial ownership, directly or indirectly, of Outstanding Common Stock or Outstanding Voting Securities immediately prior to the Business Combination, and 
  
 (C)  at least a majority of the members of the board of directors of the corporation resulting from such
Business Combination were members of the board of directors of the Company (the “Board”) at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

 
 3 

  
 (ii)  On the date that individuals who, as of December
2, 1999 constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to December 2, 1999 whose election, or
nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board should be considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors, an actual or threatened solicitation of proxies
or consents or any other actual or threatened action by, or on behalf of any Person other than the Board; or 
  
 (iii)  Upon the acquisition after December 2, 1999 by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more of either 
  
 (A)  the then Outstanding Common Stock or  
  
 (B)  the combined voting power of the Outstanding Voting Securities; 
  
 provided, however, that the following acquisitions shall not be deemed to be covered by this subparagraph (iii): 
  

(x)  any acquisition of Outstanding Common Stock or Outstanding Voting Securities by the Company, 

 
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 (y)  any acquisition of Outstanding Common Stock or
Outstanding Voting Securities by any employee benefit plan (or related trust) sponsored or maintained by the Company, or  
  
 (z)  any acquisition of Outstanding Common Stock Outstanding Voting Securities by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of Subsection 1(b)(i)
of this Agreement, or 
  
 (iv)  Upon the consummation of the sale of all or substantially
all of the assets of the Company or approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 
  
 (c)  “Company “ means Potlatch Corporation, a Delaware corporation, and its successor and assigns. 
  
 (d)  “Independent Administrator” means an independent professional benefits consulting or administrative firm appointed pursuant to Section 3(b). 
  
 (e)  “Insolvent” means that the company is unable to pay its debts as they mature or is subject to a pending
proceeding as a debtor under the Bankruptcy Code. 
  
 (f)  “Participants” mean the active and
former directors and employees of the Company or its subsidiaries or affiliates who are entitled to benefits under the Plans. 

 
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 (g)  “Plans” mean the nonqualified plans, programs, policies
and contracts listed on Schedule 1adopted or maintained by the Company or a subsidiary or affiliate of the Company. The Company may from time to time add to or delete items from Schedule 1 by notifying the Trustee in writing; provided, however, that
no such change to Schedule 1 may be made after a Change of Control has occurred. The Company shall provide the Trustee with a current copy of each Plan and any amendments thereto. 
  
 (h)  “Trust” means the Potlatch Corporation Benefits Protection Trust established pursuant to this Agreement. 
  
 (i)  “Trustee” means U. S. Bank National Association, or any successor trustee appointed pursuant to Section 10.

  
 (j)  “Trust Fund” means all moneys, securities and other property held by the Trustee under
the Trust. 
  
 SECTION 2.  Creation of Trust; Contributions 
  
 (a)  Concurrently with the execution of this Agreement, the Company deposited with the Trustee $100 in cash. From time to time
the Company shall also deposit with the Trustee such contributions as may be permitted or required pursuant to Sections 2(c) and 2(d) of this Agreement. All such contributions and all accumulations and accruals, and the earnings and income with
respect thereto, shall be held by the Trustee in trust pursuant to this Agreement and shall be invested, reinvested and applied as provided herein. The Trustee hereby accepts being named as Trustee under this Agreement and agrees to hold the Trust
Fund subject to all of the terms and conditions hereof. 

 
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 (b)  The Trust established hereunder shall be revocable by the Company
at any time before a Change of Control, but shall be irrevocable upon and after a Change of Control. The Trust is intended at all times to be a grantor trust as described in section 671 of the Internal Revenue Code of 1986, as amended, and
all income earned on the assets of the Trust Fund shall be taxable to the Company, whether before or after the Trust becomes irrevocable. All taxes with respect to the Trust shall be payable by the Company from its separate funds and shall not be
charged against the Trust Fund. 
  
 (c)  The Company, with the concurrence of the Trustee, may at any time
deposit with the Trustee cash or marketable securities to be credited to the Trust Fund. 
  
 (d)  Within 30
days after a Change of Control has occurred, the Company shall deposit with the Trustee cash or marketable securities (other than stock or debt obligations of the Company) to be credited to the Trust Fund in an amount which, when added to any funds
already credited to the Trust Fund, the Company reasonably determines will be at least sufficient to pay: 
  
 (i)  the Benefit Commitments, and 
  
 (ii)  all
anticipated future expenses of the Trust Fund, including the fees and expenses of the Trustee described in Section 6(b). 
  
 (e)  At least annually after a Change of Control, the Independent Administrator shall retain an actuary to re-determine the amount determined pursuant to (d) above. Such re-determination shall be performed using the factors
and assumptions set forth in Schedule 3. If the current fair market value of the assets of the Trust Fund does not equal or exceed 110% of the amount so re-determined, the Independent Administrator shall so advise the Company and the Company shall,
within 30 days after receiving such notice, make an irrevocable contribution to the Trust equal to the excess of the re-determined amount over the current fair market value of the assets of the Trust Fund. 

 
 7 

  
 (f)  The Trustee shall not be responsible for the computation or
collection of any contribution to the Trust Fund. 
  
 SECTION 3.  Payments from the Trust

  
 (a)  Upon the effective date of this Agreement, the Company shall furnish the Trustee with written
information regarding the Participants and their beneficiaries under the Plans and the dates of distribution and amounts of benefits under the Plans and shall update such information on a regular basis. 
  
 (b)  The Company shall have the duty to notify the Trustee if a Change of Control occurs. If the Company fails to provide such
notice and the Trustee has a reasonable basis for believing that a Change of Control has occurred, then the Trustee shall be authorized to act under this section as if the Company had provided such notice. After a Change of Control, the Company
shall:(i) within 30 days furnish to the Trustee the information described in (a) above with respect to the Benefit Commitments which are then payable under the Plans; (ii) update such information with respect to all Plans not less frequently than
annually; (iii) furnish the Trustee with any other information the Trustee may reasonably request within 30 days after such request; and (iv) within 30 days following the Change of Control, appoint an Independent Administrator which shall assume
responsibility for the administration of the Plans and provide such information and assistance as may be necessary or appropriate to assist the Independent Administrator to carry out its duties in connection with the Plans. 

 
 8 

  
 (c)  Before a Change of Control, the Trustee shall make payments from
the Trust Fund to Participants and their beneficiaries under the Plans if so directed by the Company. The Company may withdraw funds from the Trust Fund for any purpose at any time before a Change of Control. 
  
 (d)  After a Change of Control the Trustee shall pay the Benefit Commitments to the Participants and their beneficiaries in the
amounts and at the time directed by the Independent Administrator.  
  
 (e)  Except as provided in
Section 2(d) or Section 11(d), no funds shall be paid to the Company after a Change of Control unless the Trustee determines in its sole discretion that the funds will never be required to pay Benefit Commitments under the Plans and expenses of the
Trust Fund and the Independent Administrator. 
  
 (f)  After a Change of Control the Trustee shall pay
benefits (including, without limitation, benefits accruing on account of services rendered after the date of the applicable event or on account of a period of employment after the applicable event) under the Plans in excess of the Benefit
Commitments only if the Company deposits additional cash or marketable securities sufficient to pay such excess benefits or the Trustee determines in its sole discretion that the Trust Fund is sufficient to pay all Benefit Commitments, expenses of
the Trust Fund and such excess benefits, and the Company agrees in writing that it will not make a request pursuant to Section 3(e) prior to the termination of the Trust that the Trustee make a distribution of funds in excess of the amount necessary
to pay the Benefit Commitments and Trust Fund expenses. 

 
 9 

  
 (g)  Payments to Participants and their beneficiaries pursuant to
Sections 3(c) and 3(d) shall be made by the Trustee to the extent that funds in the Trust Fund are sufficient for such purpose. In any month in which the Trustee determines that the Trust Fund does not have sufficient funds to provide for the
payment of all benefits due in such month under the Plans, the amount otherwise payable to each such Participant or beneficiary during such month shall be reduced proportionately; provided, however, that after a Change of Control any payments in
excess of the Benefit Commitments shall be reduced as necessary or completely terminated before payment of any Benefit Commitments shall be reduced. 
  
 (h)  Notwithstanding any other provisions of this Agreement, if before or after a Change of Control the Trustee is notified by the Company or the Trustee has a reasonable basis for believing
that the Company is Insolvent, the Trustee shall discontinue benefit payments from the Trust Fund and shall hold the assets of the Trust Fund to satisfy the claims of the Company’s general and judgment creditors. For this purpose, the knowledge
of any of its affiliates shall not be imputed to the Trustee. The Trustee shall resume benefit payments only after determining that the Company is not Insolvent or as directed by a court of competent jurisdiction. 
  
 (i)  The Company shall have the duty to notify the Trustee if the Company becomes Insolvent. Except as provided in the next
sentence, the Trustee shall have no duty to inquire whether the Company is Insolvent. If a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company is Insolvent, the Trustee shall independently determine or,
within 30 days after receipt of such notice, shall petition a court to determine whether the Company is Insolvent and shall suspend benefit payments pending such determination. The Company shall promptly provide all information reasonably requested
by the Trustee to enable the Trustee or the court to make such determination. 

 
 10 

  
 (j)  If the Trustee discontinues or suspends benefit payments under
Section 3(h) or 3(i) and subsequently resumes such payments, the first payment following such discontinuance or suspension shall include the aggregate amount of all payments that would have been made during the period of discontinuance or
suspension, less any payments made by the Company to the Participant or beneficiary pursuant to the Plans during such period, together with interest equal to 70% of the prime rate at large U.S. money center commercial banks as reported in the Wall
Street Journal from time to time throughout such period. 
  
 (k)  No Participant or beneficiary shall have
any claim on or beneficial ownership interest in any assets of the Trust Fund before such assets are paid to the Participant or beneficiary, and all rights created under the Plans shall be unsecured contractual rights against the Company.

  
 SECTION 4.  Management of Trust Assets 
  
 (a)  Prior to a Change of Control, the Trust Fund shall be held, invested and reinvested by the Trustee as directed in writing
by the Company from time to time. 
  
 (b)  After a Change of Control, the Trustee shall have exclusive
authority and discretion to manage and control the Trust Fund and may employ investment managers (including affiliates of the Trustee) to manage the investment of the Trust Fund. In exercising such authority and discretion, the Trustee shall be
guided by the investment policy guidelines established by the Company for this purpose. 

 
 11 

  
 The Trustee shall discharge its investment duties with the care, skill, prudence and diligence under the
circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. 
  
 (c)  In no event shall assets of the Trust Fund be invested in debt obligations of the Company. 
  
 (d)  To the fullest extent permitted by law, the Trustee is expressly authorized to:  
  
 (i)  retain the services of U.S. Bancorp Piper Jaffray Inc. or any other registered broker-dealer organization hereafter affiliated with U.S. Bank
National Association, and any future successors in interest thereto (collectively for the purposes of this paragraph referred to as the “Affiliated Entities”), to provide services to assist in or facilitate the purchase or sale of
investment securities in the Trust,  
  
 (ii)  acquire as assets of the Trust shares
of mutual funds to which Affiliated Entities provides, for a fee, services in any capacity and 
  
 (iii)  acquire in the Trust any other services or products of any kind or nature from the Affiliated Entities regardless of whether the same or similar services or products are available from other institutions.

  
 The Trust may directly or indirectly (through mutual funds fees and charges, for example) pay management fees,
transaction fees and other commissions to the Affiliated Entities for the services or products provided to the Trust and such mutual funds at such Affiliated Entities’ standard or published rates without offset (unless required by law) from any
fees charged by the Trustee for its services as Trustee. 

 
 12 

  
 The Trustee may also deal directly with the Affiliated Entities regardless of the
capacity in which it is then acting, to purchase, sell, exchange or transfer assets of the Trust even though the Affiliated Entities are receiving compensation or otherwise profiting from such transaction or are acting as a principal in such
transaction. 
  
 (e)  Each of the Affiliated Entities is authorized to 
  
 (i)  effect transactions on national securities exchanges for the Trust as directed by the Trustee, and

  
 (ii)  retain any transactional fees related thereto, consistent with Section 11(a)(1)
of the Exchange Act, as amended, and related Rule 11a2-2(T). 
  
 (iii)  Included
specifically, but not by way of limitation, in the transactions authorized by this provision are transactions in which any of the Affiliated Entities are serving as an underwriter or member of an underwriting syndicate for a security being purchased
or are purchasing or selling a security for its own account. In the event the Trustee is directed by the Company or any designated investment manager, as applicable hereunder (collectively referred to for purposes of this paragraph as the
“Directing Party”), the Directing Party shall be authorized, and expressly retains the right hereunder, to direct the Trustee to retain the services of, and conduct transactions with, Affiliated Entities fully in the manner described
above. 

 
 13 

  
 SECTION 5.  Powers of Trustee 

 
 Subject to Sections 3 and 4, the Trustee shall have full power and authority with respect to any and all moneys, securities and
other property at any time received or held in the Trust Fund to do all such acts, take all such proceedings and exercise all such rights and privileges, whether herein specifically referred to or not, as could be done, taken or exercised by the
absolute owner thereof, including, without in any way limiting the generality of the foregoing, the following: 
  
 (a)  To collect and receive the income of the Trust Fund and to invest and reinvest the Trust Fund in investments of any kind; 
  
 (b)  To pay the expenses of the Trust (excluding any taxes payable by the Company under Section 2(b)) out of the Trust Fund, including the fees and reasonable expenses of the Independent
Administrator and including reasonable compensation for its services as Trustee (if and to the extent that the Company does not pay such expenses and compensation); 
  
 (c)  To employ suitable agents and counsel, and pay their reasonable expenses and compensation out of the Trust Fund (if and to the extent that the Company does
not pay such expenses and compensation); 
  
 (d)  To sell, convey, exchange or otherwise dispose of any
property at any time held in trust hereunder; 
  
 (e)  To hold uninvested any cash contributions to the
Trust Fund and to create reserves of cash or other assets of the Trust Fundin the banking department of any affiliate of the Trustee, without liability for interest thereon, for the payment of expenses, or for distributions pursuant to the Plans, or
for any other purpose in connection with the Plans, notwithstanding the affiliate’s receipt of “float” from such uninvested cash; 

 
 14 

  
 (f)  To deposit any moneys at any time held in the Trust Fund in any
savings bank, in the savings department of any bank or in a banking affiliate of the Trustee; 
  
 (g)  To
invest assets of the Trust Fund in any mutual funds advised by the Trustee or any of its affiliates or for which an affiliate of the Trustee acts as a custodian or other service provider and to receive management fees from such mutual funds for
services performed for such funds; 
  
 (h)  To have, respecting bonds, shares of corporate stock and other
securities, all the rights, powers and privileges of an owner, including holding securities in the name of the Trustee or in the name of a nominee securities depository with or without disclosure of the Trust, voting any corporate stock either in
person or by proxy, with or without power of substitution, making payment of calls, assessments or other sums deemed by the Trustee expedient for the protection of the Trust Fund, exchanging securities, selling or exercising stock subscriptions or
conversion rights, participating in foreclosures, reorganizations, consolidations, mergers, liquidations, pooling agreements, voting trusts, and assenting to corporate sales, leases and encumbrances. The Trustee may provide to the Company (or, after
a Change of Control, to the Independent Administrator) the proxy of any security when in the Trustee’s judgment the Trustee or one of its affiliates may have a conflict of interest; 

 
 15 

  
 (i)  To enter into any contracts with, or purchase any annuities from,
any insurance company or insurance companies for the purpose of providing for distributions under the Plans; and 
  
 (j)  To settle, compromise or submit to arbitration any claims, debts or damages due or owing to or from the Trust or the Trust Fund; to commence or defend legal proceedings for or against the Trust; and to represent the
Trust in all proceedings in any court of law or equity or before any other body or tribunal. 
  
 SECTION 6.  Taxes, Expenses and Compensation of Trustee 
  
 (a)  The Company shall pay any federal, state, local or other taxes imposed with respect to the assets or income of the Trust Fund. At the direction of the Company (or, following a Change of Control, at the direction of the
Independent Administrator), the Trustee shall deduct any payroll or income taxes required to be withheld from any payments made to Participants or their beneficiaries from the Trust Fund. 
  
 (b)  The fees and expenses of the Trustee set forth in Schedule 2 as it may be amended from time to time in accordance with the published fee schedule of the
Trustee and the Trustee’s reasonable expenses, including but not limited to the retention of legal counsel, accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform
its services as Trustee, shall be charged to and payable from the Trust Fund on a monthly basis, or on such other basis as the Trustee deems reasonable, except to the extent that such fees and expenses are paid by the Company. 

 
 16 

  
 SECTION 7.  Records and Accounting 

 
 (a)  The Trustee shall keep accurate and detailed records and accounts with respect to all assets included in the
Trust Fund and all investments, receipts and disbursements and other transactions involving the Trust, except that the Company shall maintain all accounts for Participants and their beneficiaries as provided in the Plans. All accounts, books and
records maintained by the Trustee shall be open to inspection by any person designated by the Company at all reasonable times. 
  
 (b)  Within 60 days following the close of each calendar year or the date of removal or resignation of the Trustee or termination of the Trust, the Trustee shall file with the Company a written report setting forth all
investments, receipts, disbursements and other transactions effected by it during the calendar year or part thereof for which the report is filed, in such form as the Company and the Trustee shall agree. The Trustee also shall render such additional
statements or reports to the Company as the Company may reasonably request from time to time. 
  
 SECTION 8.  Indemnification 
  
 The Company shall indemnify and hold
the Trustee harmless from and against any liability that the Trustee may incur in the administration of the Trust (including reasonable attorneys’ fees), unless arising from the Trustee’s own gross negligence, willful misconduct, or
willful breach of the provisions of or its obligations under this Agreement. The Trustee shall not be required to give any bond or any other security for the faithful performance of its duties under this trust agreement, except as required by law.

 
 17 

  
 SECTION 9.  Administration of the Plans;
Communications 
  
 (a)  The Company shall administer the Plans as provided therein and subject to
Section 3(d), the Trustee shall not be responsible in any respect for administering the Plans. The Trustee shall not be responsible for the adequacy of the Trust Fund to meet and discharge all payments and liabilities under the Plans. 

 
 (b)  Any action of the Company, or if applicable, the Independent Administrator under any provision of this Agreement
shall be evidenced by a written instrument signed by an authorized agent of the Company or if applicable, the Independent Administrator. The Company, or if applicable, the Independent Administrator shall furnish the Trustee from time to time with
evidence satisfactory to the Trustee as to the agents authorized to sign such instruments. 
  
 SECTION
10.  Resignation or Removal of Trustee 
  
 (a)  The Trustee may resign at any time and for
any reason before a Change of Control upon written notice to the Company. After receipt of such written notice, the Company shall appoint a successor trustee that will become Trustee upon its acceptance of the Trust. The Trustee’s resignation
shall become effective upon the earlier of the date six months after such written notice is provided or the date the successor trustee is appointed by the Company and accepts the Trust. The Trustee shall have no duty to find or secure the
appointment of a successor upon its resignation pursuant to this Section 10(a). 

 
 18 

  
 (b)  After a Change of Control, the Trustee may resign at any time and
for any reason upon written notice to the Company, and, if applicable, the Independent Administrator. Such resignation shall become effective only if: 
  
 (i)  The Trustee has obtained the agreement of a bank to act as successor trustee which bank (A) is among the 100 largest banks in the United
States, as measured by deposits, (B) has a rating of “B/C” or greater based upon the most current rating from Keefe, Bruyett & Woods (“KB&W”) or its successor, or if KB&W or its successor should cease to publish
ratings, then a short-term debt rating from Moody’s of “P-1” or greater, or from Standard and Poor’s of “A-1” and (C) has no present commercial banking relationship with the Company or any of its subsidiaries,
affiliates or successors; or 
  
 (ii)  A court of competent jurisdiction has appointed a
successor trustee, but only after the Trustee has used its best efforts to find a successor pursuant to (i) above.  
  
 The Trustee shall continue to be trustee of the Trust Fund until the new trustee is in place, and the Trustee shall be entitled to expenses and fees (including expenses incurred in finding a successor trustee or petitioning a court
to name a successor trustee) through the later of the effective date of its resignation as Trustee or the end of its custodianship of the Trust Fund. 
  
 (c)  Prior to a Change of Control, the Company may remove the Trustee upon 30 days written notice to the Trustee, or upon such shorter period as is acceptable to the Trustee. Such removal
shall become effective, however, only upon the occurrence of all of the following events: 
  
 (i)  The appointment by the Company of a successor trustee; 
  
 (ii)  The acceptance of the Trust by the successor trustee; and 
  
 (iii)  The delivery of the Trust Fund to the successor trustee. 

 
 19 

  
 (d)  Following a Change of Control, the Independent Administrator, if
it agrees to assume such power and responsibility, may remover the Trustee by following the steps prescribed for the Company in (c) above. 
  
 (e)  Upon designation or appointment of a successor trustee, the Trustee shall transfer the Trust Fund to the successor trustee reserving such reasonable sums as the Trustee shall deem necessary to defray its
expenses in settling its accounts and to pay any of its compensation due and unpaid. If the sums so reserved are not sufficient for these purposes, the Trustee shall be entitled to recover the amount of any deficiency from either the Company or the
Trust Fund held by thesuccessor trustee, or both. 
  
 SECTION 11.  Amendment of
Agreement; Termination of Trust 
  
 (a)  The Company shall have the right at any time prior to a Change
of Control to amend this Agreement by an instrument in writing duly executed and delivered to the Trustee, or to terminate the Trust; provided, however, that the duties, powers and liabilities of the Trustee hereunder shall not be substantially
changed without its written consent. 
  
 (b)  The provisions of this Agreement and the Trust created hereby
may not be amended or terminated by the Company after a Change of Control. The Trustee, after a Change of Control, may amend the provisions of this Agreement to the extent required by applicable law. 

 
 20 

  
 (c)  In the event the Company terminates the Trust prior to the
occurrence of a Change of Control, the Trustee shall reserve such sums as it deems necessary to pay its fees and expenses, and shall distribute all remaining assets of the Trust Fund in accordance with the written directions of the Company.

  
 (d)  The Trust shall be terminated upon the earlier of the exhaustion of the Trust Fund or the final
payment of all amounts payable to all of the Participants and their beneficiaries pursuant to the Plans, and the payment of all amounts due to the Trustee and all costs and expenses chargeable to the Trust. Promptly upon termination of this Trust,
and after payment of all fees, expenses and indemnities due to or incurred by the Trustee hereunder, any remaining portion of the Trust Fund shall be paid to the Company. 
  
 SECTION 12.  Governing Law; Severability 
  
 (a)  This Agreement shall be construed and enforced in accordance with the laws of the State of Minnesota. 
  
 (b)  Any provision of this Agreement that is determined to be invalid or unenforceable shall be ineffective without invalidating the remaining provisions hereof.

  
 (c)  This Agreement shall have binding effect on the successors and assigns of the Company and on all
parent an subsidiary companies related to any such successor or assign. 

 
 21 

  
 IN WITNESS WHEREOF, the parties hereto have caused this amended and restated
Agreement to be executed by their duly authorized officers as of the day and year first above written. 
  
 
	 POTLATCH CORPORATION
 
	 
	 By:
 	 	 /S/    GERALD L.
ZUEHLKE        
 

	  	 	 Gerald L. Zuehlke
 Vice
President Finance and Chief
 Financial Officer
 

 
  
 
	 US BANK NATIONAL ASSOCIATION
 
	 
	 By:
 	 	 /S/    CRAIG R.
JOHNSTON        
 

	  	 	 Craig R. Johnston
 Vice
President, Trust Officer
 

 
  
  

 
 22 

  
 Schedule 1 
  
 The Plans 
  
 Potlatch
Corporation Salaried Employees’ Supplemental Benefit Plan 
  
 Potlatch Corporation Management
Performance Award Plan 
  
 Potlatch Corporation Severance Program for Executive Employees

  
 Potlatch Corporation Directors Deferred Compensation Plan 
  
 Potlatch Corporation Directors Retirement Plan (frozen) 
  
 Potlatch Corporation Employee Severance Plan* 
  
 Supplemental Retirement Benefit and Life Insurance
Agreement Between Potlatch Corporation and Richard B. Madden dated as of February 19, 1988 
  
 Deferred Compensation Agreement Between Potlatch Corporation and Richard N. Congreve dated as of December 2, 1982, as amended 
  
 Severance and/or Employment Agreements: 
  
 Akerman,
Emery 
  
 Bacon, John 
  
 Beech, John 
  
 Black, Douglas L. 
  
 Biazzo, Thomas 
  
 Brenner, Richard 
  
 Bullard, Richard 
  
 Cheek, George 

 
 Clark, Kenneth 
  
 Collier, James 
  
 Davis, Brian 
  
 DeBourde, Robert 
  
 DeRocher, Earl 
  
 Deward, Carlton 
  
 Durand, Daniel 

 
 Fleshman, Nancy (survivor of James Fleshman) 
  
 Grove, Harry 
  
 Hanby, John 
  
 Hawley, Robert 
  

Hedden, Helen 
  
 Johansen, Daniel 
  
 Kosloski, Erwin 
 

	*
	 
	The contributions made to the Trust Fund by the Company with respect to the Employee Severance Plan shall be held in a separate sub-account and the provisions
of Section 3 shall apply separately to such sub-account. 
 

 
 23 

  
 Krantz, Irwin 
  
 Martin, F. Lynn 
  
 McAdoo, James 
  
 McBirney, Helen 

 
 Morris, James 
  
 Morton, William 
  
 Nordholm, Richard 
  
 Norha, Patrick 
  
 Page, Gordon 
  
 Powell, Sandra 
  
 Rehm, Roland 

 
 Robison, John 
  
 Rosenbaum, Lester 
  
 Saarela, Edward 
  
 Smrekar, Thomas J. 
  
 Tate, Terry 
  
 Warner, Richard 
  
 Wolhaupter, John 

 

	

	

  

 
 24 

  
 Schedule 2 
  
 Fee Schedule 
  
 TO BE DETERMINED

 
 25 

  
 Schedule 3 
  
 Summary of Funding Methods and Assumptions for 
 Severance Contracts, Employment
Agreements and 
 Supplement Defined Benefit Plan 
  
 Discount Rate 
  
 Moody’s Seasoned Aaa Corporate Bond Yield for the month in which the
valuation date falls, less 0.50%. At January, 2001, yield was 7.15% (6.65% after removing 50 basis points). 
  
 Termination and
Retirement 
  
 All active participants terminate two years after the valuation date, or immediately, if that
produces a higher liability. Benefit payments begin at the earliest retirement date following termination. 
  
 Mortality

  
 No mortality before retirement. Post-retirement mortality using 1983 Group Annuity mortality table.

  
 Trust Expenses 
  
 5% of liabilities. 

 
 26Fifth Amendment to Credit Agreement and Waiver

  
 Exhibit (10)(o)(vii) 
  
 FIFTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER 
  
 THIS FIFTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER (this “Agreement”), dated as of September 9, 2002, is made by and among POTLATCH CORPORATION, a Delaware corporation (the “Borrower”), the
Subsidiary Guarantors party hereto, the several financial institutions party hereto, and BANK OF AMERICA, N.A., as administrative agent for the Lenders (in such capacity, the “Agent”). Terms used but not otherwise defined herein
shall have the meanings provided in the Credit Agreement described below. 
  
 RECITALS 
  
 A.  The Borrower, the Subsidiary Guarantors party thereto, the several financial institutions from time to time party thereto
(each a “Lender” and, collectively, the “Lenders”) and the Agent are parties to a Credit Agreement dated as of June 29, 2001 (as amended by that certain First Amendment to Credit Agreement dated as of August 27,
2001, that certain Second Amendment to Credit Agreement dated as of December 19, 2001, that certain Third Amendment to Credit Agreement and Waiver dated January 24, 2002, that certain consent letter dated March 19, 2002 (the “Cloquet
Consent”), that certain Consent and Modification dated June 12, 2002 relating to the Cloquet Consent, and that certain Fourth Amendment to Credit Agreement and Waiver dated as of July 16, 2002, and as further amended, modified, restated and
supplemented from time to time, the “Credit Agreement”). 
  
 B.  The Borrower has
requested that the Required Lenders waive the Borrower’s non-compliance with Section 7.1(k) of the Credit Agreement which requires delivery by the Borrower of the Timber Report for the quarter ended June 30, 2002. 
  
 C.  The Borrower has also requested certain modifications to the Credit Agreement. 
  
 D.  Such waiver and modifications require the consent of the Required Lenders. 
  
 E.  The Borrower, the Subsidiary Guarantors, the Required Lenders and the Agent have agreed to deliver and execute this
Agreement on the terms and conditions set forth herein. 
  
 AGREEMENT 
  
 NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows: 
  
 SECTION
1.  Waiver.    Subject to the provisions hereof, the Required Lenders hereby waive, effective as of June 30, 2002, the provision of Section 7.1(k) of the Credit Agreement which requires that the Borrower deliver
a Timber Report for the fiscal quarter ended June 30, 2002 within 45 days of the end of such fiscal quarter. The foregoing waiver is a limited one-time waiver and does not (i) allow the Credit Parties to be in violation of Section 7.1(k) of the
Credit Agreement with respect to any other period or any other matter or (ii) constitute a waiver of any other provisions of the Credit Agreement. 

 

 SECTION 2.  Amendments to Credit Agreement.    Subject to the satisfaction of the
conditions precedent set forth in Section 3 hereof, from and after the Fifth Amendment Effective Date (as defined below), the Credit Agreement (together with the Schedules and Exhibits attached thereto) is hereby amended as follows: 

 
 (a)  Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions
thereto in the appropriate alphabetical order: 
  
 “Borrowing Base” means, as of any
day, the sum of (a) 80% of Eligible Receivables, (b) 50% of Eligible Inventory, and (c) the amount of cash, if any, pledged to the Agent, for the benefit of the Lenders, as cash collateral for the obligations of the Credit Parties outstanding
hereunder pursuant to documentation reasonably satisfactory to the Agent, in the case of clauses (a) and (b) as set forth in the most recent Borrowing Base Certificate delivered to the Agent and the Lenders in accordance with the terms of Section
7.1(k) and in the case of clause (c) as of the date of such determination. 
  
 “Borrowing
Base Certificate” shall have the meaning assigned to such term in Section 7.1(k). 
  
 “Eligible Inventory” means, as of any date of determination and without duplication, the lower of the aggregate book value (based on the Borrower’s past practices, consistently applied) or fair market value of
all raw materials, work in process, supplies and finished goods inventory owned by the Borrower or any of its Subsidiaries less reserves required in accordance with GAAP but excluding in any event (a) inventory which is (i) not subject to a
perfected, first priority Lien in favor of the Agent to secure the obligations of the Credit Parties hereunder or (ii) subject to any other Lien that is not a Permitted Lien, (b) inventory which is not in good condition or fails to meet standards
for sale or use imposed by governmental agencies, departments or divisions having regulatory authority over such goods and in effect as of such date of determination, (c) inventory which is not useable or salable at prices approximating their cost
in the ordinary course of the Borrower’s business, (d) inventory located outside of the United States, (e) inventory which is leased or on consignment, (f) inventory not at a location of the Borrower or a Subsidiary of the Borrower which has
been disclosed to the Agent pursuant to this Agreement and (g) inventory which fails to meet such other specifications and requirements as the parties hereto may from time to time agree in accordance with Section 11.6. 
  
 “Eligible Receivables” means, as of any date of determination and without duplication, the aggregate book
value of all accounts receivable, receivables, and obligations for payment created or arising from the sale of inventory or the rendering of services in the ordinary course of business (collectively, the “Receivables”), owned by or owing
to the Borrower or any of its Subsidiaries, net of allowances and reserves for doubtful or uncollectible accounts and sales adjustments consistent with such Person’s internal policies and in any event in accordance with GAAP, but excluding in
any event (a) any Receivable which is (i) not subject to a perfected, first priority Lien in favor of the Agent to secure the obligations of the Credit Parties hereunder or (ii) subject to any other Lien that is not a Permitted Lien, (b) Receivables
which are more than 60 days past due, (c) Receivables evidenced by notes, chattel paper or other instruments, unless such notes, chattel paper or instruments have been delivered to and are in the possession of the Agent, (d) Receivables owing by an
account debtor which is subject to any bankruptcy or insolvency proceeding of any kind, (e) Receivables owing by an account debtor located outside of the United States (unless payment for the goods shipped is secured by an irrevocable letter of
credit in a form reasonably acceptable to the Agent and from an institution reasonably acceptable to the Agent), (f) Receivables which are contingent or subject to offset, deduction, counterclaim, dispute or other defense to payment, in each case to
the extent of such offset, deduction, counterclaim, dispute or other defense, (g) Receivables for which any direct or indirect Subsidiary or any Affiliate is the account debtor, (h) Receivables representing a sale to the government of the United
States or any agency or instrumentality thereof unless the Federal Assignment of Claims Act has been complied with to the reasonable satisfaction of the Agent with respect to the granting of a security interest in such Receivable, and (i)
Receivables which fail to meet such other specifications and requirements as the parties hereto may from time to time agree in accordance with Section 11.6. 

 
 2 

 “Fifth Amendment” means that certain Fifth Amendment to Credit Agreement dated as of
September 9, 2002 by and among the Borrower, the Guarantors, the Lenders party thereto and the Agent. 
  
 “Fifth Amendment Effective Date” means the date on which the conditions precedent to the effectiveness of the Fifth Amendment are satisfied by the Credit Parties or waived by the Agent and/or the Required Lenders.

  
 “Fifth Amendment Escrow Agreement” means that certain Fifth Amendment Escrow
Agreement dated as of the Fifth Amendment Effective Date by and among the Borrower, the Agent and Wells Fargo Bank Northwest, National Association. 
  
 “Repay” or “Repayment” means with respect to Indebtedness, to permanently redeem, repurchase, retire or defease (including
by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due) or acquire for value. 
  
 “Senior Indebtedness” means all Indebtedness of the Borrower and its Subsidiaries other than Subordinated Indebtedness. 

 
 (b)  Section 1.1 of the Credit Agreement is amended by deleting the definition of “Timber
Report” contained therein in its entirety. 
  
 (c)  Section 1.1 of the Credit
Agreement is amended by deleting the definition of “Consolidated EBITDDA” contained therein in its entirety and replacing it with the following: 
  
 “Consolidated EBITDDA” means, as of any date for the four fiscal quarter period ending on such date with respect to the Consolidated
Parties on a consolidated basis, the sum of (i) Consolidated Net Income, plus (ii) an amount which, in the determination of Consolidated Net Income, has been deducted for (A) interest expense, (B) income taxes, (C) depreciation, depletion and
amortization expense and (D) any prepayment penalty, make-whole premium or loss associated with the Repayment of any Indebtedness with the Net Cash Proceeds of an Asset Disposition permitted hereunder, all as determined in accordance with GAAP.

  
 (d)  Section 1.1 of the Credit Agreement is amended by deleting the definition of
“Collateral” and replacing it with the following: 
  
 “Collateral” means a
collective reference to (i) prior to the Additional Collateral Effective Date (a) all Property and interests in Property of the Credit Parties encumbered by the Pledge Agreement, and all proceeds thereof, and (b) all accounts receivable and
inventory of the Credit Parties now existing or hereafter acquired encumbered by the Security Agreement, and all proceeds thereof and (ii) on and after the Additional Collateral Effective Date, in addition to the Collateral set forth in clause (i)
above, the Additional Collateral. 

 
 3 

 (e)  Section 1.1 of the Credit Agreement is amended by deleting the definition of
“Collateral Documents” and replacing it with the following: 
  
 “Collateral
Documents” means a collective reference to (i) prior to the Additional Collateral Effective Date, the Pledge Agreement and the Security Agreement and (ii) on and after the Additional Collateral Effective Date, in addition to the Collateral
Documents set forth in clause (i) hereof, the Additional Collateral Documents. 
  
 (f)  Section 1.1 of the Credit Agreement is amended by deleting the definition of “Eligible Reinvestment” in its entirety and replacing it with the following: 
  

“Eligible Reinvestment” means (i) any acquisition (whether or not constituting a capital expenditure, but not constituting an
Acquisition) of assets or any business (or any substantial part thereof) used or useful in the same or a similar line of business as the Borrower and its Subsidiaries were engaged in on the Closing Date (or any reasonable extensions or expansions
thereof) and (ii) any Permitted Acquisition. The term “Eligible Reinvestment” shall not include any item which is not a permitted application of proceeds of an “Asset Sale” (or any comparable term) under, and as defined in the
documents evidencing or governing any Subordinated Indebtedness. 
  
 (g)  Section 1.1 of
the Credit Agreement is amended by deleting the definition of “Fixed Charge Coverage Ratio” contained therein and replacing it with the following 
  
 “Fixed Charge Coverage Ratio” means, as of the end of any fiscal quarter of the Consolidated Parties for the four fiscal quarter period
ending on such date with respect to the Consolidated Parties on a consolidated basis, the ratio of (a) the sum of (i) Consolidated EBITDDA for such period minus (ii) Consolidated Capital Expenditures for such period minus (iii)
Consolidated Cash Taxes for such period to (b) the sum of (i) Consolidated Interest Expense for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period (excluding (x) the $100,000,000 payment due March 15, 2002 on
the Borrower’s 6.25% debentures due on such date, which payment was made with the proceeds of the escrow account held pursuant to the Escrow Agreement, (y) the $30,000,000 principal payment made in April 2002 on the Borrower’s 9.46% medium
term fixed rate notes due 2002-2022 and (z) the $15,000,000 payment due April 4, 2003 on the Borrower’s 9.42% medium term fixed rate notes due 2000-2022, to the extent the Borrower has deposited such payment into an escrow account held pursuant
to the Fifth Amendment Escrow Agreement) plus (iii) dividends paid by the Borrower to its shareholders for such period. 
  
 (h)  Section 1.1 of the Credit Agreement is amended by adding the following to the of the definition of “Funded Indebtedness”: 
  

Notwithstanding the foregoing, for the purpose of determining compliance with Section 7.10(a) only, “Funded Indebtedness” shall not include the $15,000,000
payment due April 4, 2003 on the Borrower’s 9.42% medium term fixed rate notes due 2000-2022, to the extent the Borrower has deposited such payment into an escrow account held pursuant to the Fifth Amendment Escrow Agreement 

 
 (i)  Section 1.1 of the Credit Agreement is amended by deleting the definition of “Land”
contained therein and replacing it with the following. 
  
 “Land” means the land
that was subject to the Mortgages. 
  
 (j)  Section 1.1 of the Credit Agreement is amended
by deleting the phrase “prepay or retire” in clause (c) of the definition of “Net Cash Proceeds” and replacing it with “Repay”. 

 
 4 

  
 (k)  Section 2.1 (a) of the Credit Agreement is amended
by deleting the first proviso of such sentence in its entirety and replacing it with the following: 
  
 provided, however, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed the lesser of (i) TWO HUNDRED MILLION DOLLARS ($200,000,000) (as such aggregate maximum amount may
be reduced from time to time as provided in Section 3.4, the “Revolving Committed Amount”) and (ii) the Borrowing Base; 
  
 (l)  Section 2.2(a) of the Credit Agreement is amended in its entirety to read as follows: 
  
 (a)  Issuance.    The Existing Letters of Credit have previously been issued by the applicable Issuing Lender and
subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, Bank of America, in its capacity as an Issuing Lender, agrees to issue, the applicable Issuing Lender agrees to renew, extend and
modify and each Lender with a Revolving Commitment severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the
Maturity Date as the Borrower may request, by delivering a Letter of Credit Application to the applicable Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not exceed ONE HUNDRED FORTY MILLION DOLLARS
($140,000,000) (the “LOC Committed Amount”) and (ii) the sum of the aggregate outstanding principal amount of Revolving Loans plus LOC Obligations shall not at any time exceed the lesser of (i) the Revolving Committed Amount and (ii)
the Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than twenty (20) months from the date of issuance (provided that any such Letter of Credit may contain customary “evergreen” provisions pursuant to which
the expiry date is automatically extended by a specific time period (which in no event shall exceed one year in each instance) unless the applicable Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time
period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date thirty (30) days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents.
The issuance date of each Letter of Credit shall be a Business Day. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions
hereof. 
  
 (m)  Section 2.3(a) of the Credit Agreement is amended by adding the sentence
immediately to the end thereof: 
  
 The Term Loan was paid in full on May 13, 2002 as a result of the mandatory
prepayment required under this agreement in connection with the sale by the Borrower of the facility located in Cloquet, Minnesota and all obligations for principal, interest and fees related to the Term Loan were satisfied in connection therewith.

  
 (n)  Section 3.3(b)(i)(A) of the Credit Agreement is amended in its entirety to read as
follows: 
  
 (i)  (A) Revolving Committed Amount.    If at any
time, the sum of the aggregate outstanding principal amount of Revolving Loans plus LOC Obligations shall exceed the lesser of (i) the Revolving Committed Amount and (ii) the Borrowing Base, the Borrower immediately shall prepay the Revolving
Loans and (after all Revolving Loans have been repaid) cash collateralize the LOC Obligations, in either case, in an amount sufficient to eliminate such excess. 

 
 5 

  
 (o)  Section 3.3(b)(v) of the Credit Agreement is
amended by adding the following sentence to the end thereof: 
  
 Notwithstanding anything contained in this clause
(v) to the contrary, if all Revolving Loans have been repaid, the Borrower shall not be required to cash collateralize LOC Obligations in connection with any mandatory prepayment required pursuant to clause (ii)(A) of this Section 3.3(b) to the
extent the Borrower uses the Net Cash Proceeds from such Asset Disposition to Repay Senior Indebtedness or to make Eligible Reinvestments. 
  
 (p)  Section 6.25 of the Credit Agreement entitled “Mortgaged Property” is hereby deleted in its entirety. 
  
 (q)  Section 7.1(k) of the Credit Agreement is amended in its entirety to read as follows: 
  

(k)  within 30 days after the end of each fiscal quarter, a certificate as of the end of such fiscal quarter, substantially in the form of
Exhibit 7.1(k) and certified by an Executive Officer of the Borrower to be true and correct as of the date thereof (a “Borrowing Base Certificate”. 
  
 (r)  Section 7.10 of the Credit Agreement is amended in its entirety to read as follows: 
  

7.10  Financial Covenants. 
  
 (a)  Funded Indebtedness to Capitalization Ratio.    The Funded Indebtedness to Capitalization Ratio, as of the last day of each fiscal quarter of the Consolidated Parties, shall be less than or
equal to: 
  
 
	       Period      
 
	  	 Ratio
 
	 
	 July 1, 2001 through and including December 31, 2001
 	  	 65.0
 	 %
 
	 January 1, 2002 through and including March 31, 2003
 	  	 62.5
 	 %
 
	 April 1, 2003 and thereafter
 	  	 55.0
 	 %
 

 
  
 (b)  Consolidated Net
Worth.    At all times the Consolidated Net Worth of the Borrower shall be greater than or equal to 85% of Consolidated Net Worth as of June 30, 2002 increased on a cumulative basis as of the end of each fiscal quarter of the
Consolidated Parties, commencing with the fiscal quarter ending September 30, 2002, by an amount equal to (x) 50% of Consolidated Net Income (to the extent positive) for such fiscal quarter and (y) 100% of the Net Cash Proceeds of any Equity
Issuances consummated during such fiscal quarter. 

 
 6 

  
 (c)  Fixed Charge Coverage
Ratio.    The Fixed Charge Coverage Ratio, as of the last day of each fiscal quarter of the Consolidated Parties, shall be greater than or equal to: 
  
 
	       Period      
 
	  	     Ratio    
 

	 July 1, 2001 through and including September 30, 2001
 	  	 1.05 to 1.00
 
	 October 1, 2001 through and including December 31, 2001
 	  	 1.15 to 1.00
 
	 January 1, 2002 through and including June 30, 2002
 	  	 0.85 to 1.00
 
	 July 1, 2002 through and including September 30, 2002
 	  	 0.80 to 1.00
 
	 October 1, 2002 through and including September 30, 2003
 	  	 1.15 to 1.00
 
	 October 1, 2003 and thereafter
 	  	 1.50 to 1.00
 

 
  
 (s)  Section 7.14(iii) is amended in its
entirety to read as follows: 
  
       (iii)  [intentionally
omitted] 
  
 (t)  Section 7.14(v) is amended in its entirety to read as follows:

  
       (v)  [intentionally omitted] 

 
 (u)  Section 8.5 of the Credit Agreement is amended by deleting the phrase “prepay or
retire” in clause (g)(i) thereof and replacing it with “Repay”. 
  
 (v)  Section 8.7 of the Credit Agreement is amended in its entirety to read as follows: 
  
 8.7  Restricted Payments. 
  
 The Credit Parties will not permit any Consolidated
Party to, directly or indirectly, declare, order, make or set apart any sum for or pay any Restricted Payment, except (a) to make dividends or other distributions payable to any Credit Party (directly or indirectly through Subsidiaries), (b) as
permitted by Section 8.6, Section 8.8 or Section 8.9, (c) so long as such payments are permitted under the Senior Subordinated Note Indenture, the Borrower shall be permitted to pay dividends to its shareholders in amount not to exceed the lesser of
(x) the sum of (I) $25,000,000 and (II) an amount equal to 25% of the Net Cash Proceeds from one or more Asset Dispositions occurring during any consecutive twelve month period, so long as the Net Cash Proceeds from such Asset Dispositions, in the
aggregate, exceed $200,000,000, but only to the extent that the Borrower applies such Net Cash Proceeds to Repay Senior Indebtedness and (y) $55,000,000 in any consecutive twelve month period, (d) the purchase by the Borrower of up to 50,000 shares
of its Capital Stock on or after September 28, 2001 pursuant to those certain put options of the Borrower set forth on Schedule 8.1 and (e) to Repay up to $25,000,000 in principal amount of the Senior Subordinated Notes. 

 
 (w)  Section 8.8(a) of the Credit Agreement is deleted in its entirety and replaced with the
following: 
  
 (a)  (i) amend or modify any of the terms of any Indebtedness of such Person
(other than Indebtedness arising under the Credit Documents) if such amendment or modification would add or change any terms in a manner materially adverse to the Lenders, or (ii) materially shorten the final maturity or average life to maturity
thereof or require any payment thereon to be made sooner than originally scheduled or increase the interest rate or fees applicable thereto, or (iii) make (or give any notice with respect thereto) any voluntary or optional payment or prepayment
thereof, or make (or give any notice with respect thereto) any redemption or acquisition for value or defeasance (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose
of paying when due), refund, refinance or exchange with respect thereto; provided, however that the Borrower may Repay Senior Indebtedness with the Net Cash Proceeds received by the Borrower in connection with any Asset Disposition
permitted under Section 8.5, so long as the Borrower has complied with the requirements of Section 3.3(b)(ii)(A) and Section 8.5; 

 
 7 

  
 (x)  Section 8.8 of the Credit Agreement is hereby
amended by adding the following immediately to the end thereof: 
  
 Furthermore, notwithstanding
anything to the contrary contained in this Agreement, the Credit Parties may Repay up to $25,000,000 in principal amount of the Senior Subordinated Notes. 
  
 (y)  Section 8.14 of the Credit Agreement is amended in its entirety to read as follows: 
  

8.14  Capital Expenditures. 
  
 From the
Closing Date until such time as the Borrower delivers a certificate of an Executive Officer of the Borrower demonstrating a Leverage Ratio of the Borrower of less than 3.00 to 1.00 for two consecutive fiscal quarters, together with the financial
statements referred to in Section 7.1(a) or (b), as applicable, the Credit Parties will not permit Consolidated Capital Expenditures to exceed for the following periods the amount set forth opposite such period: 
  
 
	       Period      
 
	  	      Amount     
 

	 July 1, 2001 through December 31, 2001
 	  	 $
 	 25,000,000
 
	 January 1, 2002 through December 31, 2002
 	  	 $
 	 75,000,000
 
	 January 1, 2003 through December 31, 2003
 	  	 $
 	 125,000,000
 
	 January 1, 2004 through December 31, 2004
 	  	 $
 	 125,000,000
 
	 January 1, 2005 through June 29, 2005
 	  	 $
 	 75,000,000
 

 
  
 plus the unused amount available for Consolidated Capital Expenditures under this
Section 8.14 for the immediately preceding fiscal year (excluding any carry forward available from any prior fiscal year or a portion thereof); provided, however, that the Credit Parties may make certain unanticipated capital
expenditures that exceed the above amounts solely in order to comply with Environmental Laws while maintaining full production at the Credit Parties’ manufacturing facilities (“Unanticipated Capital Expenditures”) so long as
(a) the Borrower shall give written notice to the Agent at least five (5) Business Days prior to making such Unanticipated Capital Expenditures and (b) the aggregate amount of all such Unanticipated Capital Expenditures shall not exceed $7,500,000
in any fiscal year (excluding any carry forward available from any prior fiscal year or portion thereof). 
  
 (z)  Section 8.16 of the Credit Agreement is hereby amended by replacing “$35,000,000” with “$50,000,000”. 
  
 (aa)  The Credit Agreement is amended by adding a new Section 11.19 to the end of Article XI to read as follows: 

 
 8 

  
 11.19  Release of Timber and Land Collateral. 
  
 Upon the Fifth Amendment Effective Date, the pledges and grants of security interests in all Land and Timber constituting the Collateral
(and only such Collateral and no other) (as evidenced by the Mortgages) shall be deemed released and the covenants and other agreements contained herein and in the Mortgages related to such Land and Timber shall otherwise cease and be of no further
force and effect as to the Credit Parties. Promptly following the Fifth Amendment Effective Date, the Agent shall, and is hereby authorized to, at the Credit Parties’ expense, deliver to the Credit Parties such documentation as is reasonably
necessary to evidence the Agent’s release of its security interest in the Land and Timber, including without limitation releases of the Mortgages and related UCC fixture filings and such other documentation as may be reasonably necessary in
connection therewith. 
  
 (bb)  The Credit Agreement is amended by adding a new Exhibit
7.1(k) entitled “Form of Borrowing Base Certificate” to the Schedules and Exhibits to the Credit Agreement in the form of Exhibit 7.1(k) attached hereto. 
  
 SECTION 3.  Conditions of Effectiveness.    This Agreement shall become effective upon the date (the “Fifth Amendment Effective
Date”) on which occurs satisfaction (or waiver) of each of the following conditions precedent: 
  
 (a)  This Agreement.    The Agent shall have received a duly executed counterpart of this Agreement from (i) the Required Lenders, (ii) Lenders (other than Defaulting Lenders) holding in the
aggregate at least a majority of the Revolving Commitments (and Participation Interests therein) and (iii) each Credit Party. 
  
 (b)  Opening Borrowing Base Report.    The Agent shall have received a Borrowing Base Certificate as of the Fifth Amendment Effective Date, substantially in the
form of Exhibit 7.1(k) and certified by an Executive Officer of the Borrower to be true and correct as of the Fifth Amendment Effective Date. 
  
 (c)  Officer’s Certificate Regarding Collateral.    The Agent shall have received evidence to its satisfaction from the Borrower that the value of the portion
of the Collateral being released on the Fifth Amendment Effective Date does not exceed 40% of the value of all of the Collateral pledged to the Agent immediately prior to the Fifth Amendment Effective Date, certified by an Executive Officer of the
Borrower to be true and correct as of the Fifth Amendment Effective Date. 
  
 (d)  Fifth
Amendment Escrow Agreement.    The Borrower shall have established and fully funded an escrow account for the purposes of holding $15,000,000, which amount will be used solely to repay the $15,000,000 in principal amount of
9.42% medium term fixed rate notes on April 4, 2003, pursuant to the Fifth Amendment Escrow Agreement and other documentation satisfactory in all respects to the Agent. 
  
 (e)  Amendment Fee.    The Agent, on behalf of each Lender who executes this Agreement, shall have received from the
Borrower an amendment fee equal to 20.0 basis points multiplied by the aggregate Revolving Commitments of the Consenting Lenders (as defined below), such fee being for the account of each such Consenting Lender pro rata according to such
Lender’s Revolving Commitment; provided, however, that such fee shall be payable only to those Lenders (the “Consenting Lenders”) that shall have returned (including via telecopy) executed signature pages to this
Agreement at or before 5:00 p.m. (New York time) on September 6, 2002, as directed by the Agent. 
  
 (e)  Costs, Expenses and Fees.    The Borrower shall have paid any and all out-of-pocket costs (to the extent invoiced) incurred by the Agent or the Arranger (including the reasonable fees and
expense of the Agent’s legal counsel) and fees and other amounts payable to the Agent or the Arranger, in each case in connection with the arrangement, negotiation, execution and delivery of this Agreement. 

 
 9 

  
 (f)  Representations and Warranties; No Default;
Collateral. As of the date hereof, after giving effect to the Agreement contemplated hereby: 
  
 (i)  the representations and warranties contained in Section 6 of the Credit Agreement shall be true and correct in all material respects on and as of the date hereof as though made on and as of such date (except for those
which expressly relate to an earlier date, which were true and correct as of the date made); 
  
 (ii)  no Default or Event of Default shall have occurred and be continuing; and 
  
 (iii)  after giving effect to this Agreement and the provisions hereof, the Agent shall continue to have a valid, perfected and first priority security interest in all Collateral (other than the Land and Timber released
pursuant to the terms hereof). 
  
 SECTION 4.  Representations and
Warranties.    Each of the Borrower and the Subsidiary Guarantors hereby represents and warrants to the Lenders and the Agent that: 
  
 (a)  It has taken all necessary action to authorize the execution, delivery and performance of this Agreement. 
  
 (b)  This Agreement has been duly executed and delivered by such Person and constitutes such Person’s
legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
  
 (c)  No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third
party is required in connection with the execution, delivery or performance by such Person of this Agreement. 
  
 (d)  The representations and warranties of the Credit Parties set forth in Section 6 of the Credit Agreement are, subject to the limitations set forth therein, true and correct in all material respects as of the date hereof
(except for those which expressly relate to an earlier date, which are true and correct as of the date made). 
  
 (e)  Subsequent to the execution and delivery of this Agreement and after giving effect hereto, no Default or Event of Default exists under the Credit Agreement or any of the other Credit Documents. 
  
 (f)  All of the provisions of the Credit Documents, except as amended hereby, are in full force and effect.

  
 (e)  After giving effect to this Agreement and the provisions hereof, the Agent
continues to have a valid, perfected and first priority security interest in all remaining Collateral other than the Land and Timber released pursuant to the terms of this Agreement. 

 
 10 

 SECTION 5.  Miscellaneous. 
  
 (a)  Credit Agreement Otherwise Not Affected.    Except as expressly modified pursuant hereto, the Credit Agreement and
the other Credit Documents shall remain unchanged and in full force and effect and are hereby ratified and confirmed in all respects. The Required Lenders’ and the Agent’s execution and delivery of, or acceptance of, this Agreement and any
other documents and instruments in connection herewith shall not be deemed to create a course of dealing or otherwise create any express or implied duty by any of them to provide any other or further amendments, consents or waivers in the future.

  
 (b)  Acknowledgment of Subsidiary Guarantors.    The
Subsidiary Guarantors acknowledge and consent to all of the terms and conditions of this Agreement and agree that this Agreement and any documents executed in connection herewith do not operate to reduce or discharge the Subsidiary Guarantors’
obligations under the Credit Agreement or the other Credit Documents. 
  
 (c)  No
Reliance.    The Credit Parties hereby acknowledge and confirm to the Agent and the Lenders that they are executing this Agreement on the basis of their own investigation and for its own reasons without reliance upon any
agreement, representation, understanding or communication by or on behalf of any other Person. 
  
 (d)  Costs and Expenses.    The Borrower agrees to pay to the Agent on demand its reasonable out-of-pocket costs and expenses, and the reasonable fees and disbursements of its counsel, in
connection with the negotiation, preparation, execution and delivery of this Agreement and any other documents to be delivered in connection herewith. 
  
 (e)  Binding Effect.    This Agreement shall be binding upon, inure to the benefit of and be enforceable by the
Borrower, each Subsidiary Guarantor, the Agent and each Lender and their respective successors and assigns. 
  
 (f)  Governing Law.    THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 (g)  Complete Agreement; Agreement.    This Agreement contains the entire and exclusive agreement of the parties hereto
with reference to the matters discussed herein. This Agreement supersedes all prior commitments, drafts, communications, discussion and understandings, oral or written, with respect thereto. This Agreement may not be modified, amended or otherwise
altered except in accordance with the terms of Section 11.6 of the Credit Agreement. 
  
 (h)  Severability.    Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under all applicable laws and regulations. If, however,
any provision of this Agreement shall be prohibited by or invalid under any such law or regulation in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law or regulation, or, if
for any reason it is not deemed so modified, it shall be ineffective and invalid only to the extent of such prohibition or invalidity without affecting the remaining provisions of this Agreement, or the validity or effectiveness of such provision in
any other jurisdiction. 
  
 (i)  Counterparts/Telecopy.    This
Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed 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 by telecopy shall be as effective as an original and shall constitute a representation that an original will be delivered. 

 
 11 

 (j)  Interpretation.    This Agreement is the result of negotiations
between, and has been reviewed by counsel to, the Agent and the Credit Parties and are the product of all parties hereto. Accordingly, this Agreement shall not be construed against any of the Lenders or the Agent merely because of the Agent’s
or any Lender’s involvement in the preparation thereof. 
  
 (k)  Credit
Document.    This Agreement shall constitute a “Credit Document” under and for all purposes of the Credit Agreement and the other Credit Documents. 

 
 12 

  
 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement, as of
the date first above written. 
  
  
 
	 BORROWER:
 	 	  	 	 POTLATCH CORPORATION
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    GERALD L.
ZUEHLKE        
 

	  	 	  	 	  	 	  	 	 Gerald L. Zuehlke
 V.P.
Finance, CFO
 

 
  
  
 
	 SUBSIDIARY GUARANTORS:
 	 	  	 	 THE PRESCOTT AND NORTHWESTERN
RAILROAD COMPANY
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    MALCOLM A.
RYERSE        
 

	  	 	  	 	  	 	  	 	 Malcolm A. Ryerse
 Secretary
and Assistant Treasurer
 

 
  
  
 
	 ST. MARIES RIVER RAILROAD COMPANY 
 
	 
	 By:
 	 	 /s/    MALCOLM A.
RYERSE        
 

	  	 	 Malcolm A. Ryerse
 Secretary
and Assistant Treasurer
 

 
  
  
 
	 WARREN AND SALINE RIVER RAILROAD COMPANY

	 
	 By:
 	 	 /s/    MALCOLM A.
RYERSE        
 

	  	 	 Malcolm A. Ryerse
 Secretary
and Assistant Treasurer
 

 

  
 
	 AGENT:
 	 	  	 	 BANK OF AMERICA, N.A.,
 in its capacity as Administrative Agent
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    RUSSELL A.
MCCLYMONT        
 

	  	 	  	 	  	 	  	 	 Russell A. McClymont
 Vice
President
 

 

  
 
	 LENDERS:
 	 	  	 	 BANK OF AMERICA, N.A.,
 individually in its capacity as a Lender
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    RUSSELL A.
MCCLYMONT        
 

	  	 	  	 	  	 	  	 	 Russell A. McClymont
 Vice
President
 

 

 
	 THE BANK OF NOVA SCOTIA
 
	 
	 By:
 	 	 /s/    PATRICK G.
NORRIS        
 

	  	 	 Patrick G. Norris
 Director
 

 

 
	 COBANK, ACB
 LENDER
 
	 
	 By:
 	 	 /s/    S. RICHARD
DILL        
 

	 Phone:
 Fax:
 e-mail:
 	 	 S. Richard Dill
 Vice
President
 303-740-4197
 303-740-4366
 rdill@cobank.com
 

 

 

 
	 WELLS FARGO BANK N.A.
 LENDER
 
	 
	 By:
 	 	 /s/    STEVEN J.
ANDERSON        
 

	  	 	 Steven J. Anderson
 Senior Vice
President
 

 

 
	 WACHOVIA BANK N.A.
 LENDER
 
	 
	 By:
 	 	 /s/    SHAWN JANKO        

	  	 	 Shawn Janko
 Vice
President
 

 
  

  
 
	 NORTHWEST FARM CREDIT SERVICES, PCA
 
	 
	 By:
 	 	 /s/    JIM D. ALLEN        

	  	 	 Jim D. Allen
 Vice
President
 

 

 

  
 
	 TRANSAMERICA BUSINESS CAPITAL CORPORATION LENDER
 
	 
	 By:
 	 	 /s/    STEPHEN
GOETSCHIUS        
 

	  	 	 Stephen Goetschius
 Senior Vice
President
 

 

  
 
	 CAPITAL FARM CREDIT
 LENDER
 
	 
	 By:
 	 	 /s/    BEN R.
NOVOSAD        
 

	  	 	 Ben R. Novosad
 CEO
 9/6/02
 

 

  
 
	 U.S. BANK NATIONAL ASSOCIATION 
 LENDER
 
	 
	 By:
 	 	 /s/    JANICE T.
THEDE        
 

	  	 	 Janice T. Thede
 Vice
President
 

 

  
 Exhibit 7.1(k) 
  
 FORM OF 
 BORROWING BASE CERTIFICATE 
  
 For the fiscal quarter ended
                , 20    . 
  
 I,                         , <<TITLE>> of Potlatch Corporation (the “Borrower”) hereby
certify that, as of the fiscal quarter ended                 , to the best of my knowledge and belief, with respect to that certain Credit Agreement dated as of June 29,
2001 (as amended, modified, restated or supplemented from time to time, the “Credit Agreement”; all of the defined terms in the Credit Agreement are incorporated herein by reference) among the Borrower, the Guarantors, the Lenders and Bank
of America, N.A., as Agent: 
  
  
 RECEIVABLES 
  
 
	 
	 1.
 	 	 Receivables (as defined in the definition of Eligible Receivables in Section 1.1 of the Credit Agreement)
 	  	 $                    
 
	 
	 2.
 	 	 (i)  Receivables subject to any Lien, other than a Permitted Lien
 	  	 $                    
 
	 
	  	 	 (ii)  Receivables which are more than 60 days past due
 	  	 $                    
 
	 
	  	 	 (iii)  Receivables evidenced by notes, chattel paper or other instruments (other than such notes, chattel paper or instruments that have been
delivered to and are in the possession of the Agent)
 	  	 $                    
 
	 
	  	 	 (iv)  Receivables owing by an account debtor which is subject to any bankruptcy or insolvency proceeding of any kind
 	  	     $                    
 
	 
	  	 	 (v)  Receivables owing by an account debtor located outside of the United States (other than Receivables with respect to which payment for the
goods shipped is secured by an irrevocable letter of credit in a form reasonably acceptable to the Agent and from an institution reasonably acceptable to the Agent)
 	  	 $                    
 

 

 
	  	  	 (vi)  Receivables which are contingent or subject to offset, deduction, counterclaim, dispute or other defense to payment, in each case to the
extent of such offset, deduction, counterclaim, dispute or other defense
 	  	 $                    
 
	 
	  	  	 (vii)  Receivables for which any direct or indirect Subsidiary of the Borrower or any Affiliate of the Borrower is the account debtor

	  	 $                    
 
	 
	  	  	 (viii)  Receivables representing a sale to the government of the United States or any agency or instrumentality thereof (unless the Borrower has
complied (to the reasonable satisfaction of the Agent) with the Federal Assignment of Claims Act or other similar applicable law with respect to granting of a security interest in such Receivable)
 	  	 $                    
 
	 
	  	  	 (x)  Sum of lines (i) through (viii)
 	  	 $                    
 
	 
	 3.
 	  	 Eligible Receivables (Line 1 less Line 2(x))
 	  	 $                    
 
	 
	 4.
 	  	 Eligible Receivables Borrowing Base (80% of Eligible Receivables)
 	  	 $                    
 
	 
	  	  	 INVENTORY
 	  	  
	 
	 5.
 	  	 The lower of the aggregate book value (based on the Borrower’s past practices, consistently applied) or fair market value of all raw materials, work in
process, supplies and finished goods inventory owned by the Borrower less appropriate reserves determined in accordance with GAAP)
 	  	 $                    
 
	 
	 6.
 	  	 (i)  Inventory subject to any Lien, that is not a Permitted Lien
 	  	 $                    
 

 

 
	  	 	 (ii)  Inventory which is not in good condition or fails to meet standards for sale or use imposed by governmental agencies, departments or
divisions having regulatory authority over such goods and in effect as of such date of determination
 	  	 $                    
 
	 
	  	 	 (iii)  Inventory which is not useable or salable at prices approximating their cost in the ordinary course of the Borrower’s
business
 	  	 $                    
 
	 
	  	 	 (iv)  Inventory located outside of the United States
 	  	 $                    
 
	 
	  	 	 (v)  Inventory which is leased or on consignment
 	  	 $                    
 
	 
	  	 	 (vi)  Inventory not at a location of the Borrower or a Subsidiary of the Borrower which has been disclosed to the Agent pursuant to this
Agreement
 	  	 $                    
 
	 
	  	 	 (viii)  Sum of lines (i) through (vi)
 	  	 $                    
 
	 
	 7.
 	 	 Eligible Inventory (Line 6 less Line 7(viii))
 	  	 $                    
 
	 
	 8.
 	 	 Eligible Inventory Borrowing Base (50% of Eligible Inventory)
 	  	 $                    
 
	 
	  	 	 BORROWING BASE
 	  	  
	 
	 9.
 	 	 Sum of 80% of Eligible Receivables and 50% of Eligible Inventory (Line 4 plus Line 8)
 	  	 $                    
 
	 
	 10.
 	 	 Cash pledged to the Agent as cash collateral for additional borrowings as of the date hereof
 	  	 $                    
 
	 
	 11.
 	 	 Borrowing Base availability (Line 9 plus Line 10)
 	  	 $                    
 
	 
	 12
 	 	 Aggregate outstanding Revolving Loans and LOC Obligations under the Credit Agreement
 	  	 $                    
 

 

 
	 
	 13.
 	  	 If Line #11 is greater than Line #12, then the difference ($                )
(or, if less, the remaining amount of the Revolving Committed Amount) is available for extensions of credit under the Revolving Commitments, the LOC Commitment; if Line #11 is greater than Line #12, then the Borrower shall prepay or otherwise reduce
so much of the outstanding Revolving Loans and LOC Obligations as shall be necessary to eliminate such excess ($                ).
 	  	  

 
  
 IN WITNESS WHEREOF, I have hereunto set my hand and
seal this day         of                         , 20    .

  
 
	 POTLATCH CORPORATION
 
	 
	 By:

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