Document:

Waiver and Amendment No. 3 to Credit Agreement

 Exhibit 10.1 
 WAIVER AND AMENDMENT NO. 3 
 WAIVER AND AMENDMENT NO. 3,
dated as of January 29, 2010 (this “Waiver”) by and among Xerium Technologies, Inc. (“Xerium”), a Delaware corporation, XTI LLC (“XTI”), a Delaware limited liability company, Xerium Italia
S.p.A. (“Italia SpA”), an Italian società per azioni, Xerium Canada Inc. (“Xerium Canada”), a New Brunswick (Canada) corporation resulting from the amalgamation of Stowe-Woodward/Mount Hope Inc. and Weavexx
Corporation, Huyck Wangner Austria GmbH (“Huyck Austria”), an Austrian limited liability company (formerly known as Huyck Austria GmbH), and Xerium Germany Holding GmbH (“Germany Holdings”), a German limited
liability company (each of Xerium, XTI, Italia SpA, Xerium Canada, Huyck Austria and Germany Holdings, individually, a “Borrower” and, collectively, the “Borrowers”), certain Subsidiaries (such capitalized terms and
all other capitalized terms used herein and not otherwise defined herein have the meanings provided for in the Credit Agreement (as defined below)) of the Borrowers as Guarantors, the Banks party hereto, Citicorp North America, Inc., as
Administrative Agent (together with its permitted successors, in such capacity, “Administrative Agent”) and Citicorp North America, Inc., as Collateral Agent. 
 W I T N E S S E T H: 
 WHEREAS, the Borrowers, certain
Subsidiaries of the Borrowers as Guarantors, the Banks, the Administrative Agent and Collateral Agent are parties to an Amended and Restated Credit and Guaranty Agreement dated as of May 20, 2008 (as amended, supplemented or otherwise modified
through the date hereof, the “Credit Agreement”); 
 WHEREAS, the Borrowers, certain Subsidiaries of the
Borrowers as Guarantors, certain of the Banks, the Administrative Agent and Collateral Agent are parties to a Waiver and Amendment No. 1 dated as of September 29, 2009 (the “September 2009 Waiver”) and a Waiver and
Amendment No. 2 dated as of December 14, 2009 (the “December 2009 Waiver”); 
 WHEREAS, the Banks
have made Loans to the Borrowers pursuant to the Credit Agreement; 
 WHEREAS, each Borrower and Guarantor expressly reaffirms
all of the Credit Documents and the indebtedness and other obligations thereunder, each Borrower and Guarantor agrees that nothing contained herein shall operate to release the Borrowers and the Guarantors or any other Person or Persons from their
liability to keep and perform the provisions, conditions, obligations and agreements contained in the Credit Documents, except as they may be herein waived, modified or amended and each Borrower and Guarantor hereby reaffirms that each provision,
condition, obligation and agreement in such documents shall continue in full force and effect, except as herein waived, modified or amended; 
 WHEREAS, the validity, priority and perfection of all mortgages, security interests and other liens granted or created by the Collateral Documents are hereby acknowledged and confirmed by each Borrower
and Guarantor, and each Borrower and Guarantor agrees that such documents shall continue to secure the Loans and the other Obligations pursuant to the terms of the Collateral Documents, without any change, loss or impairment of the priority of such
mortgages, security interests or other liens as a result of this Waiver; and 

 WHEREAS, each Borrower and Guarantor understands, acknowledges and agrees that a Default or
Event of Default as set forth in Sections 1 and 2 of this Waiver may have occurred but for the September 2009 Waiver and the December 2009 Waiver or may occur, which event would, if continuing, relieve each of the Banks from their respective
obligations to extend credit under the Credit Agreement and which event would, if continuing, permit the Requisite Banks to, among other things, cause the Administrative Agent to declare all Obligations to be immediately due and payable; 

NOW, THEREFORE, in consideration of the mutual covenants made herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Waiver agree as follows: 
 Section 1.
Financial Covenant Defaults Waiver Period. Pursuant to the terms of the September 2009 Waiver and the December 2009 Waiver, the Banks party thereto agreed to temporarily waive the Default or Event of Default that may have occurred but for the
September 2009 Waiver and the December 2009 Waiver under Section 8.1(c) of the Credit Agreement as a result of Xerium’s failure to comply with Sections 6.8(a), 6.8(b) and 6.8(c) of the Credit Agreement with respect to the
fiscal period ending September 30, 2009 (the “Q3 Financial Covenant Defaults”) and with respect to the fiscal period ending December 31, 2009 (the “Q4 Financial Covenant Defaults” and, together with the Q3
Financial Covenant Defaults, the “Financial Covenant Defaults”). Subject to the terms of this Waiver, the Banks party hereto agree to (i) extend the temporary waiver with respect to the Q3 Financial Covenant Defaults and the Q4
Financial Covenant Defaults, in each case, for the period commencing on the date the conditions precedent contained in Section 4 of this Waiver are satisfied (the “Effective Date”) through and until the earlier of
(i) the occurrence of any Default or Event of Default under any Credit Document other than the Financial Covenant Defaults and the Hedging Obligations Defaults (as defined below), (ii) the occurrence of a Waiver Termination Event (as
defined below) and (iii) 11:59 P.M., New York time, March 1, 2010 (such period the “Waiver Period”). The term “Waiver Termination Event” means the failure by Xerium to perform or comply with any term or
provision contained in this Waiver and such failure or non-performance shall not have been remedied within five (5) Business Days after the earlier of (i) an officer of Xerium becoming aware of such failure or non-performance or
(ii) receipt by Xerium of notice from the Administrative Agent or any Bank of such failure or non-performance. It is understood and agreed that during the Waiver Period, no Financial Covenant Default will be deemed to have occurred and be
continuing and after the expiration of the Waiver Period, the Administrative Agent and the Banks may exercise the remedies set forth under the Credit Documents in respect of any Financial Covenant Default that is continuing. 
  

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 Section 2. Waiver of Default in Hedging Obligations Agreements. Pursuant
to the terms of the December 2009 Waiver, the Banks party thereto agreed to temporarily waive a default by any of Xerium, XTI or Xerium Canada (together, the “Xerium Swap Counterparties”) in its respective obligations under
agreements creating Hedging Obligations (each, a “Swap Agreement”) that were in effect on the date thereof (the “Hedging Obligations Defaults”). Each Borrower and Guarantor acknowledges that a Default or Event of
Default may occur under Section 8.1(b) of the Credit Agreement as a result of the Hedging Obligations Defaults. Subject to the terms of this Waiver, the Banks party hereto agree to extend the temporary waiver with respect to the Hedging
Obligations Defaults, solely for the Waiver Period. It is understood and agreed that during the Waiver Period, no Hedging Obligations Default will be deemed to have occurred and be continuing and after the expiration of the Waiver Period, the
Administrative Agent and the Banks may exercise the remedies set forth under the Credit Documents in respect of any Hedging Obligations Default that is continuing. 
 Section 3. Certain Covenants and Agreements of the Borrowers. 
 (a) Xerium agrees to deliver to the Administrative Agent the schedules, reports, forecasts and statements required to be delivered pursuant to Section 2(a) of the September 2009 Waiver, all of which
shall be delivered on the dates required by Section 2(a) of the September 2009 Waiver. 
 (b)
Notwithstanding anything to the contrary in the Credit Agreement, as of the Effective Date, the principal balance of all Loans due and payable shall bear interest at a rate that is 1.00% per annum in excess of the non-default interest rate
otherwise payable under the Credit Agreement with respect to the applicable Loans. 
 (c) Notwithstanding
anything to the contrary in the Credit Agreement, as of the Effective Date and during the Waiver Period, in no event shall new Revolving Loans be available to the Borrowers and each Borrower acknowledges and agrees that no Bank shall be obligated to
make any Loans to any Borrower; provided that during the Waiver Period, the expiration date of Letters of Credit set forth on Schedule I to the September 2009 Waiver may be extended and Letters of Credit may be issued in each case in
accordance with Section 2(c) of the September 2009 Waiver. 
 (d) Each of the Xerium Swap Counterparties
agree that it shall not enter into any agreement with any Swap Counterparty that provides for the payment of any amounts, fees or expenses with respect to the Swap Agreements, other than (i) those amounts, fees and expenses agreed to in the
Forbearance Agreement dated as of December 31, 2009 by and among Deutsche Bank AG (“Deutsche Bank”), Xerium, XTI and Xerium Canada (the “DB Forbearance Agreement”), (ii) those amounts, fees and expenses
agreed to in the Forbearance Agreement dated as of January 4, 2010 by and among Merrill Lynch Capital Services, Inc. (“Merrill Lynch”), Xerium and XTI (the “ML Forbearance Agreement”) and (iii) forbearance
extension fees of up to 0.05% on the Termination Claim (as defined in the DB Forbearance Agreement or ML Forbearance Agreement, as applicable) paid to Merrill Lynch and Deutsche Bank, as applicable, by the applicable Xerium Swap Counterparty and
reasonable fees and expenses of counsel in connection with the forbearance agreement extensions referred to in Section 4(e) of this Waiver. 
  

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 Section 4. Conditions Precedent. The Effective Date shall be that date
when, to the satisfaction of the Administrative Agent, the following conditions shall been satisfied or waived: 
 (a) The Borrowers, the Guarantors and the Requisite Banks shall have executed this Waiver and the Administrative Agent shall have received executed counterparts hereto from the Borrowers, the Guarantors and the Requisite Banks; and the
Borrowers and the Guarantors shall have performed its obligations under all covenants and agreements required to have been performed as of the Effective Date; 
 (b) The Administrative Agent shall have received a certificate, dated the date hereof and signed by an Authorized Officer of
Xerium, confirming that all conditions precedent to the effectiveness of this Waiver have been met, that all representations and warranties set forth herein are true, accurate and correct in all material respects and as to the absence of any
Defaults or Events of Default (other than any Default or Event of Default waived by this Waiver, the September 2009 Waiver or the December 2009 Waiver), in each case as provided for herein; 
 (c) Xerium agrees to pay to each Bank executing and delivering (by telecopy or otherwise) this Waiver (such Banks, the
“Consenting Banks”), on or before 5:00 P.M., New York time, January 28, 2010, a fee equal to 0.05% (the “Consent Fee”) of the outstanding principal amount of all Loans (other than the Tranche 1 Revolving Loans)
and the Tranche 1 Revolving Commitments of such Bank. The Consent Fee shall be fully earned and nonrefundable on the Effective Date. Xerium shall pay the Consent Fee to the Administrative Agent (for the benefit of the Consenting Banks) on such date
in the currency in which the applicable Loans and the Tranche 1 Revolving Commitments are denominated; 
 (d) The
Administrative Agent shall have received payment in full of all fees and expenses due to the Administrative Agent and the Banks (including the reasonable fees and expenses due of its legal counsel and financial advisors invoiced prior to the
Effective Date) under the Credit Agreement and in connection with this Waiver; and 
 (e) Each of Merrill Lynch
and Deutsche Bank shall have entered into a forbearance agreement extension extending the date referred to in Section 6(i) of the ML Forbearance Agreement or the DB Forbearance Agreement, as applicable, with respect to the Swap Agreement to
which it is a counterparty to no sooner than 11:59 p.m. (New York time) on March 1, 2010. 
 Section 5.
Guarantor Assent. Each Guarantor assents to each and every term and provision of this Waiver. 
  

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 Section 6. Effect on the Credit Agreement and the Other Credit Documents.
Except to the extent expressly provided herein, this Waiver does not constitute, and shall not be deemed to constitute a waiver of (i) any Agent’s or Bank’s remedies under the Credit Documents or (ii) any Default or Event of
Default. Except as expressly provided in this Waiver, no action taken by any Bank or Agent prior to, on or after the date hereof shall constitute a waiver or modification of any term or condition of any of the Credit Documents or of any instruments
or agreements referred to therein, or prejudice any rights which any Agent or any of the Banks may now have as of the date hereof or may have in the future under or in connection with the Credit Documents or any of the instruments referred to
therein, including without limitation all rights and remedies in connection with Defaults, Events of Default and failures of conditions precedent to the making of Loans and the issuance of Letters of Credit that have occurred and are continuing, all
of which rights and remedies each Bank and each Agent hereby expressly reserves. 
 Section 7. Representations
and Warranties. Each Borrower and each Guarantor represents and warrants to the Banks and the Agents that (i) as of the date hereof, no Default or Event of Default exists other than any Default or Event of Default waived by this Waiver, the
September 2009 Waiver or the December 2009 Waiver, (ii) all representations and warranties contained in the Credit Agreement and the other Credit Documents (other than, to the extent of any Default or Event of Default waived by this Waiver, the
September 2009 Waiver or the December 2009 Waiver, any representation and warranty that no Default or Event of Default exists) are true and correct in all material respects on and as of the date hereof except to the extent such representations and
warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date, (iii) the execution, delivery and performance by each Borrower and Guarantor of this Waiver are
within the powers of such Borrower and Guarantor, have been duly authorized by all necessary action and do not contravene the respective Organizational Documents of such Borrower and Guarantor, (iv) no authorization or approval or other action
by, and no notice to or filing with, any Governmental Authority or other Person is required for the due execution, delivery or performance by the Borrowers or the Guarantors of this Waiver, (v) this Waiver constitutes the legal, valid and
binding obligations of each Borrower and Guarantor enforceable in accordance with its terms except as such enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights
generally and by general principles of equity and (vi) except as heretofore disclosed in writing by Xerium to the Banks, as of the date hereof, there is no pending or to the knowledge of the Borrowers and the Guarantors, threatened action,
suit, proceeding, governmental investigation or arbitration against or affecting Xerium or any of its Subsidiaries that could reasonably be expect to have a Material Adverse Effect. Each Borrower and Guarantor acknowledges and agrees that each of
the Credit Documents shall continue in full force and effect and is hereby ratified and confirmed (as modified and amended hereby), and that the Credit Parties’ Obligations thereunder shall be valid and enforceable and shall not be impaired or
limited by the execution or effectiveness of this Waiver. 
 Section 8. Setoffs and Defenses. The Borrowers
have no setoffs or defenses to their respective obligations under the Credit Documents and no claims or counterclaims against any of the Agents or the Banks. 
  

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 Section 9. Releases by the Borrowers and the Guarantors. As an inducement
to the Administrative Agent and the Banks to enter into this Waiver, each Borrower and Guarantor hereby releases and discharges the Banks and the Agents, and their respective successors and assignees, and all officers, directors, employees, agents,
representatives, insurers and attorneys of each of them from all actions, counterclaims, causes of actions, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements,
promises, variances, trespasses, damages, judgments, executions, claims, and demands whatsoever, in law, admiralty or equity, against the Banks, the Agents and/or their successors and assigns which such Borrower or Guarantor ever had, now has or
hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever arising out of or in connection with the Credit Documents, from the time prior to the date of the Credit Agreement to the date hereof. 
 Section 10. Headings. The various headings of this Waiver are inserted for convenience only and shall not affect the
meaning or interpretation of this Waiver or any provisions hereof. 
 Section 11. Execution in Counterparts.
This Waiver may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of this Waiver
by facsimile or by “PDF” shall be equally effective as delivery of an original executed counterpart of this Waiver. Xerium will use its commercially reasonable efforts to cause Huyck Wangner Vietnam Co Ltd (“HWV”) to
become a party to this Waiver as soon as commercially practicable; however, notwithstanding anything to the contrary contained in Sections 3 and 7 of this Waiver, the due authorization, execution and delivery of this Waiver by HWV is not a condition
precedent to the effectiveness of the Waiver, and the representations and warranties contained in Section 7 do not apply to HWV until it becomes a party hereto. 
 Section 12. No Waiver. No failure or delay on the part of the Agents or any Bank in the exercise of any power, right or privilege hereunder or under any other Credit Document shall
impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other
power. All rights and remedies existing under this Waiver and the other Credit Documents are cumulative to, and not exclusive of, any rights or remedies otherwise available. 
 Section 13. Successors and Assigns. This Waiver shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. 
 Section 14. Credit Document. This Waiver is a Credit Document
executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with the terms and provisions of the Credit Agreement. 
 Section 15. GOVERNING LAW. THIS WAIVER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 [Signature Pages Follow] 
  

 6 

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

			
	 XERIUM TECHNOLOGIES, INC.

		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	Chairman, CEO, and President
	
	XTI LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Executive Vice President
	
	XERIUM ITALIA S.P.A.
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	Chairman
	
	XERIUM CANADA INC.
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	President and CEO
	
	HUYCK WANGNER AUSTRIA GMBH
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	Managing Director
	
	XERIUM GERMANY HOLDING GMBH
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Managing Director

			
	HUYCK WANGNER GERMANY GMBH
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	Managing Director
	
	HUYCK WANGNER AUSTRALIA PTY. LIMITED
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	CEO
		
	By:	 	 /s/ Tom Johnson

	Name:	 	Tom Johnson
	Title:	 	Managing Director
	
	ROBEC WALZEN GMBH
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Managing Director
	
	WANGNER ITELPA PARTICIPAÇÕES LTDA.
		
	By:	 	 /s/ Eduardo Fracasso

	Name:	 	Eduardo Fracasso
	Title:	 	President
	
	XERIUM TECHNOLOGIES DO BRASIL INDÚSTRIA E COMÉRCIO S.A.
		
	By:	 	 /s/ Eduardo Fracasso

	Name:	 	Eduardo Fracasso
	Title:	 	Director and President
	
	XERIUM DO BRASIL LTDA.
		
	By:	 	 /s/ Eduardo Fracasso

	Name:	 	Eduardo Fracasso
	Title:	 	Director

  

 8 

			
	XERIUM (FRANCE) SAS
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	President
	
	STOWE WOODWARD FRANCE SAS
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	President
	
	STOWE WOODWARD AG
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	President
	
	HUYCK. WANGNER JAPAN LIMITED
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	Chairman
	
	STOWE WOODWARD MÉXICO, S.A. DE C.V.
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	Chairman
	
	TIAG TRANSWORLD INTERWEAVING GMBH in Liquidation
		
	By:	 	 /s/ Walter Schürch

	Name:	 	Walter Schürch
	Title:	 	Managing Director
	
	HUYCK. WANGNER (UK) LIMITED
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	CEO

  

 9 

			
	STOWE-WOODWARD (UK) LIMITED
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	CEO
	
	XERIUM TECHNOLOGIES LIMITED
		
	By:	 	 /s/ Stephen R. Light

	Name:	 	Stephen R. Light
	Title:	 	Director
	
	HUYCK LICENSCO INC.
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	STOWE WOODWARD LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	STOWE WOODWARD LICENSCO LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	WEAVEXX LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President
	
	XERIUM III (US) LIMITED
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President

  

 10 

			
	XERIUM IV (US) LIMITED
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	XERIUM V (US) LIMITED
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	WANGNER ITELPA I LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Executive Vice President and CFO
	
	WANGNER ITELPA II LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Executive Vice President and CFO
	
	XERIUM ASIA LLC
		
	By:	 	 /s/ David G. Maffucci

	Name:	 	David G. Maffucci
	Title:	 	Vice President and CFO
	
	HUYCK WANGNER VIETNAM CO LTD
		
	By:	 	 /s/ Michael Praetzel

	Name:	 	Michael Praetzel
	Title:	 	General Director
	
	HUYCK WANGNER SCANDINAVIA AB
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	Director

  

 11 

			
	STOWE WOODWARD SWEDEN AB
		
	By:	 	 /s/ Peter Williamson

	Name:	 	Peter Williamson
	Title:	 	Chairman

  

 12 

			
	CITICORP NORTH AMERICA, INC.
	 as Administrative Agent, Issuing Bank, Collateral Agent and a Bank

		
	By:	 	 /s/ Nancy Rochford

	Name:	 	NANCY ROCHFORD
	Title:	 	Managing Director
		
		 	 /s/ [Signed by the requisite interest
       of the debtholders]

  

 13Second Amendment of the Loan and Security Agreement

 Exhibit 10.1(a) 
 SECOND AMENDMENT 
 THIS SECOND AMENDMENT (this
“Amendment”), dated as of             , 2009, by and among LOUISIANA-PACIFIC CORPORATION, a Delaware corporation (the “Company”), the U.S.
Subsidiaries of the Company listed on the signature pages hereto (together with the Company, the “U.S. Borrowers”), the Canadian Subsidiaries of the Company listed on the signature pages hereto (the “Canadian
Borrowers” and together with the U.S. Borrowers, the “Borrowers”), the Lenders party to the Loan and Security Agreement referenced below (the “Lenders”) and BANK OF AMERICA, N.A., as Agent (the
“Agent”) for the Lenders. 
 STATEMENT OF PURPOSE 
 The Borrowers, the Lenders and the Agent are parties to that certain Loan and Security Agreement dated as of March 10, 2009 (as
amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). 
 The
Borrowers have requested that the Agent and the Lenders amend the definition of “Maturity Date” contained in Section 1.1 of the Loan Agreement. 
 The Agent and the Lenders are willing to amend such provision, subject to the terms of this Amendment. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1 Capitalized Terms. All capitalized undefined terms used in this Amendment (including, without limitation, in the Statement
of Purpose hereto) shall have the meanings assigned thereto in the Loan Agreement. 
 SECTION 2 Amendment. Subject to and
in accordance with the terms and conditions set forth herein, and effective on and after the Effective Date (as defined below), the second sentence of the definition of “Maturity Date” contained in Section 1.1 of the Loan
Agreement is hereby amended and replaced as follows: 
 For purposes of this definition, the Agent and the Required Lenders shall
deem the Existing Notes to be adequately reserved if the Company shall have complied with the following (individually or through a combination of the following), from and after February 15, 2010 until the Existing Notes have been paid in full:
(a)(i) the Company shall have and maintain on deposit, in commercial deposit accounts or securities accounts at the Agent located in the United States (the “U.S. Control Accounts”), unrestricted cash in Dollars and/or U.S. Cash
Equivalents having a term expiry date or a maturity date prior to the maturity date of the Existing Notes (the “U.S. Cash and Cash Equivalents”), in an amount greater than or equal to the amount necessary to fully repay the
principal and interest of the Existing Notes as required pursuant to the Existing Indenture (such amount, the “Refinancing Amount”) and (ii) each of such U.S. Control Accounts shall be subject to a control agreement executed by
the Company, Bank of America (or one of its affiliates), as the depository bank, custodian or securities intermediary, as applicable, and the Agent, in form and substance acceptable to the Agent; provided that an immediate Event of Default
shall be deemed to have occurred if at any time prior to payment in full of the Existing Notes, the amount of U.S. Cash and Cash Equivalents maintained in the U.S. Control Accounts

 
shall at any time be less than the Refinancing Amount or any of such U.S. Control Accounts shall fail to be subject to a control agreement acceptable to the Agent and/or (b) the Agent shall
have established U.S. Reserves (in addition to any other U.S. Reserves established pursuant to the terms of this Agreement) in an amount greater than or equal to the Refinancing Amount. 
 SECTION 3 Waiver of Notices. Agent and the Lenders hereby waive any obligation of the Borrowers to deliver any notice to Agent or any
Lender that would otherwise be required to be delivered pursuant to the Loan Documents in connection with this Amendment. 
 SECTION 4 Effectiveness. This Amendment shall become effective on the date upon which each of the following conditions is satisfied (such date, the “Effective Date”): 
 (a) This Amendment. The Agent shall have received counterparts of this Amendment duly executed by each of the
Borrowers, the Agent and Lenders constituting Required Lenders. 
 (b) Noteholder Consent/ Amendment. The
Borrowers shall have obtained and delivered to Agent any necessary consents, waivers or amendments from the Senior Noteholders required under the Senior Note Indenture, the Intercreditor Agreement or related instruments and documents. 
 (c) Compliance with Intercreditor Agreement. The Borrowers shall have complied with all of the terms and conditions of
the Intercreditor Agreement with respect to the Amendment. 
 (d) Unrestricted Cash Amount. The Company
shall have delivered evidence acceptable to the Agent that the Company has deposited U.S. Cash and Cash Equivalents in the U.S. Control Accounts in an amount not less than the Refinancing Amount. 
 (e) Control Agreements. The Company shall have delivered to the Agent executed control agreements in form and
substance acceptable to the Agent with respect to the U.S. Control Accounts. 
 (f) Other Documents. The
Agent shall have received any other documents or instruments reasonably requested by the Agent in connection with the execution of this Amendment. 
 SECTION 5 Limited Effect. Except as expressly provided herein, the Loan Agreement and the other Loan Documents shall remain unmodified and in full force and effect. This Amendment shall not be
deemed (a) to be a waiver of, or consent to, or a modification or amendment of, any other term or condition of the Loan Agreement or any other Loan Document or a waiver of any Default or Event of Default, (b) to prejudice any right or
rights which the Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended,
restated, supplemented or modified from time to time, or (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with any Borrower or any other Person with respect to any waiver,
amendment, modification or any other change to the Loan Agreement or the Loan Documents or any rights or remedies arising in favor of the Lenders or the Agent, or any of them, under or with respect to any such documents. 
 SECTION 6 Representations and Warranties. Each Borrower represents and warrants that (a) it has the corporate power and
authority to make, deliver and perform this Amendment, (b) it has taken all necessary corporate or other action to authorize the execution, delivery and performance of this

  

 - 2 - 

 
Amendment, (c) this Amendment has been duly executed and delivered on behalf of such Borrower, (d) this Amendment constitutes a legal, valid and binding obligation of such Borrower,
enforceable against such Borrower in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally
and by general equitable principles, (e) each of the representations and warranties made by such Borrower in or pursuant to the Loan Documents is true and correct in all material respects on and as of the date hereof as if made on and as of the
date hereof, except for any representation and warranty made as of an earlier date, which representation and warranty shall remain true and correct as of such earlier date; provided that any representation or warranty that is qualified as to
“materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates and (f) no Default or Event of Default has
occurred and is continuing as of the date hereof or after giving effect hereto. 
 SECTION 7 Acknowledgement and
Reaffirmation. By its execution hereof, each Borrower hereby expressly (a) acknowledges and agrees to the terms and conditions of this Amendment, (b) reaffirms all of its respective covenants, representations, warranties and other
obligations set forth in the Loan Agreement and the other Loan Documents to which it is a party and (c) acknowledges that its respective covenants, representations, warranties and other obligations set forth in the Loan Agreement and the other
Loan Documents to which it is a party remain in full force and effect. 
 SECTION 8 Costs and Expenses. The Borrowers
agree to pay in accordance with Section 9.11 of the Loan Agreement all reasonable costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be
delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Agent with respect thereto and with respect to advising the Agent as to its rights and responsibilities hereunder and thereunder.

 SECTION 9 Execution in Counterparts. This Amendment may be executed by one or more of the parties to this Amendment on
any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Amendment by facsimile transmission shall be effective as
delivery of a manually executed counterpart hereof. 
 SECTION 10 Governing Law. The validity, interpretation and
enforcement of this Amendment shall be governed by the internal laws of the State of New York but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws
of the State of New York. 
 SECTION 11 Entire Agreement. This Amendment is the entire agreement, and supersedes any
prior agreements and contemporaneous oral agreements, of the parties concerning its subject matter. 
 SECTION 12 Successors
and Assigns. This Amendment shall be binding on and inure to the benefit of the parties and their respective heirs, beneficiaries, successors and permitted assigns. 
 [Signature Pages Follow] 
  

 - 3 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
duly authorized officers, all as of the day and year first written above. 
  

									
	U.S. BORROWERS:	 		 	LOUISIANA-PACIFIC CORPORATION
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Curt M. Stevens
		 		 		 	Title:	 	 Executive Vice President, Administration,
 and Chief Financial Officer

  

									
		 		 		 	GREENSTONE INDUSTRIES, INC.
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer
				
		 		 		 	KETCHIKAN PULP COMPANY
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer
				
		 		 		 	LOUISIANA-PACIFIC INTERNATIONAL, INC.
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer
				
		 		 		 	LPS CORPORATION
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer

  

									
	CANADIAN BORROWERS:	 		 	 0859769 B.C. UNLIMITED LIABILITY COMPANY

									
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Vice President and Treasurer
				
		 		 		 	0859774 B.C. UNLIMITED LIABILITY COMPANY
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Vice President and Treasurer
				
		 		 		 	LOUISIANA-PACIFIC LIMITED PARTNERSHIP
					
		 		 		 	By:	 	3047525 Nova Scotia Company,
its General Partner
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Vice President and Treasurer
				
		 		 		 	LOUISIANA-PACIFIC CANADA LTD.
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer
				
		 		 		 	LOUISIANA-PACIFIC (OSB) LTD.
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Mark G. Tobin
		 		 		 	Title:	 	Treasurer

			
	LOUISIANA-PACIFIC CANADA PULP CO.
		
	By:	 	  

	Name:	 	Mark G. Tobin
	Title:	 	Treasurer
	
	LOUISIANA-PACIFIC CANADA SALES ULC
		
	By:	 	  

	Name:	 	Mark G. Tobin
	Title:	 	Vice President and Treasurer

							
	AGENT AND LENDERS:	 	                                BANK OF AMERICA, N.A., 
as Agent and Lender

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	ROYAL BANK OF CANADA, as Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:

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