Document:

Lease Agreement

 Exhibit 10.1 

LEASE 

THIS LEASE is made and executed as of the
26th day of May, 2010, by and between, KB BUILDING, LLC,
an Illinois limited liability company (“Landlord”), and MANITEX INTERNATIONAL, INC., a Michigan corporation (“Tenant”), who agree as follows: 

WHEREAS, Landlord is currently the owner of the premises located at 9725 South Industrial Drive, Bridgeview, Illinois (the
“Premises”) and is in possession of the Premises; and, 
 WHEREAS, Tenant wishes to occupy the Premises for a period
of six (6) years or longer as provided for hereinafter, 
 NOW THERFORE, Landlord and Tenant agree as follows: 

SECTION 1 
 THE
PREMISES 
 1.01 Landlord leases to Tenant and Tenant leases from Landlord, for the term and subject to the provisions of this
Lease the land and improvements comprising the Premises. 
 SECTION 2 

LEASE TERM 

2.01 The term of this Lease (the “Term”) shall commence May    , 2010 on the date
hereof (the “Commencement Date”) and shall end on the last day of the seventy second
(72nd) full calendar month after the Commencement
Date, or if one or more extension options is/are exercised by Tenant as provided herein, the date for expiration of the last such extension to be exercised (the “Expiration Date”). 

SECTION 3 
 RENT;
ADDITIONAL RENT 
 3.01 During the Term specified in Section 2.01, Tenant agrees to pay to Landlord minimum net rent in
monthly installments, calculated as follows: 
 (a) During the first twelve (12) months following the Commencement Date, the
annual minimum net rent shall be $240,000 payable in twelve equal monthly installments. In addition, for the period from the Commencement Date through the last day of the partial calendar month at the beginning of the Term, Tenant shall pay minimum
net rent prorated on a daily basis based upon the number of days existing in such partial calendar month calculated in the foregoing manner. 

(b) For each succeeding twelve (12) month period (or final partial year) during the Term, the minimum net rental shall be adjusted
to an annualized amount equal to the annualized minimum net rental during the preceding twelve (12) month period times multiplied by a fraction, the numerator of which shall be the CPI for the final month of the preceding twelve (12) month
period, and the denominator of which shall be the CPI for the first month of the preceding such twelve (12) month period. For purposes hereof, “CPI” shall mean and refer to the Consumer Price Index for All Urban Consumers, U.S. City
Average, All Items, 1982-84 = 100, as issued by the Bureau of Labor Statistics, United States Department of Labor. If at any time during the term hereof the United States Bureau of Labor Statistics shall discontinue the issuance of the CPI, then the
parties agree to use any other standard, nationally recognized cost of living index then issued and available, which is published by the United States Government, and if no governmental index is then published, then by any generally recognized
privately published index of the cost of living. Notwithstanding the foregoing, (i) the adjustment in minimum net rental for any such twelve (12) month period in the term shall not exceed two percent (2%) of the annualized minimum net
rental for the previous twelve (12) month period, and (ii) in no event shall the minimum net rent in any succeeding twelve (12) month period be less than that paid during the preceding twelve (12) month period. Additionally, if
the adjustment in annualized minimum net rental for any new twelve (12) month period has not been calculated prior to the due date of the monthly installment of minimum net rent for such month, the relevant monthly installment shall be paid
based on the prior year’s annualized minimum net rent until such time as the new minimum net rent has been established, and the shortfall, if any, shall be paid with the first monthly installment for which the revised minimum net rent has been
established. 

 (c) Except as otherwise set forth hereinabove, each monthly installment of minimum net rent
shall be paid in advance, on the first day of each calendar month during the Term. 
 3.02 In addition to the minimum net rent
specified in Section 3.01 above, Tenant agrees to pay as “Additional Rent” for the Premises (i) all governmental taxes, assessments, fees, penalties and charges of every kind or nature (other than Landlord’s income taxes),
whether general, special, ordinary or extraordinary, due and payable at any time, or from time to time, during the Term and any extensions thereof, in connection with the ownership, leasing or operation of the Premises or of the personal property
and equipment located therein or in connection therewith (collectively, “:Taxes”) and (ii) all costs, expenses and charges of every nature, including, but not limited to capital expenditures, relating to, or incurred in connection
with, the ownership or operation of the Premises and that are attributable to the Term. All such Taxes shall be paid by Tenant before they become delinquent. Taxes shall be prorated for the first year of the Term. The Taxes for last year of the Term
and any extension thereof will be prorated as follows: (i) Taxes which are due and payable in the last year of the Term shall be prorated between Landlord and Tenant as of last date of the Term on the basis of the days remaining in that
calendar year; (ii) Any tax bills due in the calendar year not yet received by the last date of the Term will be estimated based upon the previous years bill; and (c) Landlord shall be responsible for its prorated amount of any payment not
credited to Tenant at the end of the Term. If any special assessments levied against the Premises are payable in installments, Tenant shall be responsible only for those installments that are attributable to the period during which Tenant has
possession of the Premises. For purposes hereof, Taxes for any year shall be Taxes that are first due for payment in that year, rather than taxes that are assessed or become a lien or accrue during such year. If at any time during the Term, the
methods of taxation prevailing on the date hereof shall be altered, such additional or substitute tax, assessment, levy, charge or imposition shall be deemed to be included within the term “Taxes” for the purposes hereof. Tenant shall have
the right, at its sole cost, to contest or appeal any assessment for Taxes. All refunds or credits obtained as a result of any such contest or appeal shall belong to and be remitted directly to Tenant. 

3.03 Landlord and Tenant acknowledge and agree that this is a net lease, and that it must yield, net, to Landlord during the original
Term, not less than the minimum net rent shown in Section 3.01. All costs, expenses and charges of every nature relating to the Premises which may be attributable to, or become due during, the Term will be paid by Tenant, and Tenant will
indemnify and hold harmless Landlord from and against such costs, expenses and charges. 
 SECTION 4 

LATE CHARGES AND INTEREST 

4.01 Any rent or other sums, if any, payable by Tenant to Landlord under this Lease which are not paid within five (5) days after
they are due, and any rent or other sums received and accepted by Landlord more than five (5) days after they are due, will be subject to a late charge of two percent (2%) of the amount due in each instance, to cover Landlord’s
additional administrative costs. Such late charges will be due and payable as additional rent on or before the due date of the next installment of minimum net rent. 

4.02 Any rent, late charges or other sums payable by Tenant to Landlord under this lease not paid within thirty (30) days after the
same are due will bear interest at a per annum rate equal to eight (8%) from the date such payments first became due. Such interest will be due and payable as Additional Rent on or before the due date of the next installment of minimum net
rent, and will accrue from the date that such rent, late charges or other sums are payable under the provisions of this Lease until actually paid by Tenant. 

SECTION 5 

SECURITY DEPOSIT 

5.01 None required. 

SECTION 6 

CONDITION OF PREMISES 

6.01 Tenant agrees and hereby accepts the Premises on an “AS-IS,” “WHERE-IS” basis, with assumption of all faults.
Tenant acknowledges that it has had an opportunity to inspect the Premises and that neither Landlord nor any representative of Landlord has made any representation as to the condition of the Premises or the suitability of

  

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the Premises for Tenant’s intended use. Tenant represents and warrants that Tenant has made its own inspection of the Premises and is not relying on any representation of Landlord with
respect thereto. Landlord shall not be not be obligated to make any repairs, replacements or improvements of any kind or nature to structural or nonstructural and whether or not involving the roof of the Building, the Building’s HVAC (defined
below) system, the Premises’ parking lot, or any other component of the Premises) in connection with, or in consideration of, this Lease. 

SECTION 7 
 USE OF
PREMISES; SIGNAGE 
 7.01 Tenant shall be entitled to use and occupy the Premises for any lawful purpose in compliance with all
applicable laws, ordinances. 
 7.02 Tenant shall have the right, with Landlord’s consent, which consent shall not be
unreasonably withheld, conditioned or delayed, and subject to compliance with the applicable zoning ordinance, to prominent exterior signage, all as reasonably determined by Tenant. 

SECTION 8 

MAINTENANCE AND REPAIR 

8.01 Throughout the term of this Lease, Tenant at its sole cost and expense, will take good care of the Premises, both inside and outside
and keep the same and all parts thereof, including without limitation, HVAC, plumbing and electrical systems, the roof, foundations and appurtenances thereto, and the drive and parking areas, together with any and all alterations, additions and
improvements therein or thereto, in substantially the same condition as on the Commencement Date, normal wear and tear and casualty loss excepted, suffering no waste or injury, and will perform all regular and special maintenance and promptly make
all needed repairs and replacements, interior and exterior, structural and non-structural, ordinary and extraordinary, foreseen and unforeseen, in and to the Premises, including vaults, sidewalks, water, sewer, electrical and gas connections, pipes
and mains, ventilation, heating and air-conditioning systems, sprinkler systems, and all other fixtures, machinery and equipment now or hereafter belonging to or connected with the Premises or used in its operation in order that the Premises remain
in a first class condition. 
 8.02 Any maintenance, repairs, additions or alterations to the Premises or any of its systems
(e.g., plumbing, electrical, mechanical), structural or non-structural, which are required by any law, statute, ordinance, rule, regulation or governmental authority or insurance carrier, including, without limitation, OSHA and the American With
Disabilities Act, will be promptly made by Tenant at its sole expense. 
 SECTION 9 

INSURANCE 
 9.01
Tenant shall, at its cost, obtain, pay for and maintain “All Risk” property insurance on a replacement cost basis (which in no event shall be less than the initial principal balance of any first mortgage on the Premises obtained by
Landlord), covering the building and all of the other improvements on the Premises, which insurance shall be written without a co-insurance penalty. The total amount of the deductible required under each policy providing such coverage shall be no
more than $25,000.00 per loss. Landlord shall be named as an additional insured, and Landlord’s mortgagee shall be named pursuant to a standard mortgagee endorsement. The property insurance required to be maintained by Tenant shall also include
coverage for acts of terrorism; provided that the cost of said terrorism coverage does not exceed ten percent (10%) of the cost of the overall liability insurance premium without such terrorism coverage. 

9.02 Tenant shall, at its cost, at all times during the Lease Term obtain and pay for and maintain in full force and effect a commercial
general liability insurance policy covering Tenant against claims arising out of liability for bodily injury and death, and property damage occurring in and about the Premises, with limits of not less than

  

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$2,000,000.00 per occurrence and $5,000,000.00 annual general aggregate. The total amount of a deductible or otherwise self-insured retention with respect to such coverage shall be not more than
$50,000.00 per occurrence. 
 Such insurance shall: (i) provide coverage on an occurrence basis or a claims made basis;
(ii) name Landlord and any mortgagee of Landlord as additional insureds; and (iii) include a severability of insured parties’ provisions and a cross-liability endorsement. Tenant may, at its option, provide the above insurance by
means of a so-called “blanket” policy; provided, however, that any such policy or policies of blanket insurance must, as to the Premises, otherwise comply as to endorsements and coverage with the other provisions of this Section 9.

 9.03 Tenant shall, at its cost, obtain, pay for and maintain workers’ compensation insurance as required in the state in
which the Premises are located. 
 9.04 Tenant shall, at is cost, obtain, pay for and maintain loss of rents insurance covering
minimum net rent for a period of one (1) year. 
 9.05 All insurance policies required under this Lease shall: (i) be
issued by companies licensed to do business in the State in which the Premises are located and acceptable to Landlord; (ii) not be subject to cancellation or material change or non-renewal without at least thirty (30) days’ prior
written notice to Landlord; and (iii) be deemed to be primary insurance in relation to any other insurance maintained by Landlord. A certificate of insurance evidencing such policy shall be delivered by Tenant to Landlord upon commencement of
the Lease Term and thereafter at least thirty (30) days prior to any expiration of such policy. 
 9.06 Landlord shall not
be liable to Tenant or to any insurance company (by way of subrogation of otherwise) insuring Landlord for any loss or damage to the Premises, the structure of the buildings located thereon, other tangible property located on the Premises, or any
resulting loss of income, or losses under workers’ compensation laws and benefits, despite the fact that such loss or damage might have been occasioned by the negligence or misconduct of such party, its agents or employees, provided and to the
extent that any such loss or damage would be covered by insurance that the party suffering the loss is required to maintain pursuant to the terms of this Lease. The failure of Tenant to insure its property shall not void this waiver. Tenant shall
secure an appropriate clause in, or an endorsement upon, each insurance policy obtained by it and covering or applicable to the Premises and the personal property, fixtures, and equipment located therein or thereon, pursuant to which the insurance
company consents to such waiver of right of recovery. The waiver of right of recovery set forth above in this Section 9.05 shall extend to Landlord, its agents and employees, and its mortgagee. 

SECTION 10 

CASUALTY LOSS 

10.01 Subject to the provisions of Section 10.03 below, if the Premises are damaged by fire or other insured casualty, Tenant shall
repair the damage and restore and rebuild the Premises with reasonable dispatch. Landlord will (and if applicable, will cause its mortgagee to) promptly endorse any check for insurance proceeds in favor of Tenant in order to fund repairs and
restoration and will not delay or condition such endorsement. 
 10.02 If (a) the Premises is damaged by fire or other
casualty thereby causing material interference with Tenant’s use, enjoyment or occupancy of the Premises, or (b) the Premises are partially damaged by fire or other casualty thereby causing material interference with Tenant’s use,
enjoyment or occupancy of the Premises, all rent shall be equitably abated to the extent of the portion of the Premises Tenant is unable to reasonably use, enjoy, or occupy until completion of the repair and restoration work and issuance of a
certificate of occupancy. 
 10.03 If the Premises is totally destroyed by fire or other casualty, or if the Premises is so
damaged by fire or other casualty that: (i) its repair or restoration requires more than two hundred forty (240) days; or (ii) such repair or restoration requires the expenditure of more than seventy percent (70%) of the full
insurable value of the Premises immediately prior to the casualty; or (iii) the damage (x) is less than the amount stated in (ii) above but more than fifty percent (50%) of the full insurable value of the Premises and
(y) occurs during the last two (2) years of Lease Term; Tenant shall have the option to terminate this Lease (by so advising Landlord in writing) within thirty (30) days after such contractor or architect delivers written notice of
its opinion to Landlord and Tenant. In such event, the termination shall be effective as of the date upon which Landlord receives written notice from Tenant terminating this Lease pursuant to the preceding sentence. In addition, if repair and
restoration of the Premises is not completed and a certificate of occupancy issued within two hundred forty (240) days after occurrence of the casualty 

 

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loss (subject to increase by up to 30 days due to force majeure events), Tenant shall have the right to terminate this Lease by so advising Landlord in writing within ten (10) business days
after expiration of such two hundred forty (240) day period (as extended by up to 30 days due to force majeure events), except that such termination election shall be void if the repair and restoration work is substantially completed and a
certificate of occupancy has been issued before Tenant’s delivery of its termination notice. 
 SECTION 11 

COMPLIANCE WITH LAWS; HAZARDOUS MATERIALS 

11.01 The Tenant shall only use Hazardous Materials (hereinafter defined) in the ordinary course of its business at the Premises and such
use shall not in any manner violate Environmental Laws governing said use nor require any permit, nor cause any environmental problems or contamination at or about the Premises. The Tenant shall not cause or permit the Premises to be used to
generate, manufacture, refine, transport, treat, store, handle, dispose of, transfer, produce or process any hazardous waste, except in compliance with Environmental Laws. 

11.02 The Tenant shall conduct and complete all investigations, studies, sampling and testing, and all removal and other actions
necessary to clean up and remove all Hazardous Materials on, under, from or affecting the Premises if the Tenant is required by Environmental Laws or any agency or court order, determination or recommendation to undertake such acts or if Tenant
shall become aware of the presence of Hazardous Materials on, under, from or affecting the Premises. 
 11.03 The Tenant shall
indemnify, defend and hold harmless Landlord, its employees, attorneys, agents, advisors, trustees, officers, directors, members, successors and assigns from any and against all claims, suits, demands, penalties, liabilities, settlements, damages,
costs or expenses of whatever kind or nature, including attorneys’ fees, fees of environmental consultants and laboratory fees, known or unknown, contingent or otherwise, arising out of or in any way related to (i) the presence,
contamination, use, disposal, discharge, emission, release or threatened release by Tenant of any Hazardous Materials on, over, under, from or affecting the Premises or the soil, water, vegetation, buildings, personal property, persons or animals
thereon; (ii) any personal injury or property damage (real or personal) arising out of or related to such Hazardous Materials used by Tenant on the Premises including, without limitation, the loss of use thereof; (iii) any lawsuit brought
or threatened, settlement reached or governmental order or directive relating to such orders, regulations, requirements or demands of governmental authorities, which are based upon Hazardous Materials used by Tenant on, under, from or about the
Premises with respect to any acts, violations or matters indemnified against by the Tenant pursuant to this subparagraph. 

11.04 The Tenant agrees that, upon expiration of the Term or any extensions thereof, or upon any earlier termination of this Lease, the
Tenant shall deliver the Premises to Landlord free of any and all Hazardous Materials to the extent required by and in compliance with all Environmental Laws. 

11.05 For purposes of this Lease, “Hazardous Materials” include, without limitation, any flammable explosive or radioactive
materials, mono- and polychlorinated biphenyls, petroleum products, natural gas, radon and natural gas liquids, asbestos-containing materials, hazardous materials, hazardous wastes, pollutants, contaminants, hazardous or toxic substances or related
materials defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 USC § 9601, et seq.), the Superfund Amendments and Reauthorization Act (Public Law 99-499, 100 Stat. 1613), the
Hazardous Materials Transportation Act, as amended 949 USC § 1801, et seq.), the Resource Conservation and Recovery Act, as amended (42 USC § 6901, et seq.), the National Environmental Policy Act (42 USC 4321), the
Safe Drinking Water Act (42 USC § 300F, et seq.), the Federal Water Pollution Control Act (33 USC § 1251, et seq.), the Clean Air Act (42 USC § 7401, et seq.), the Environmental Protection Agency
regulations pertaining to asbestos (including 40 C.F.R. Part 61, 29 C.F.R. §§ 1910.1001 and 1926.58), the Toxic Substances Control Act, as amended (15 USC § 2601, et seq.), the Michigan Environmental Code, as amended,
and in the regulations, rules and policies adopted and promulgated thereto, or in any other federal, state or local governmental law, ordinance, rule or regulation. 

11.06 The Tenant shall deliver to Landlord at such times as Landlord shall reasonably require (but in no event more often than annually),
evidence that all licenses, permits or certificates, if any, required under all applicable Environmental Laws with respect to the Premises have been obtained and evidence of compliance with “right to know regulations” and other disclosure
requirements under Environmental Laws. 
  

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 SECTION 12 

ALTERATIONS 

12.01 Tenant may at any time and from time to time, so long as Tenant is not in default under this Lease beyond applicable notice and
cure periods, at its expense and without Landlord’s consent, make additions, alterations or improvements in and to the Premises in an amount not to exceed One Hundred Thousand Dollars ($100,000) on any one occasion in a lien free basis and with
notice of such action to Landlord at least thirty (30) days prior to commencing such activity (hereinafter collectively referred to as “Alterations”), provided that the fair market value of the Premises shall not be diminished
thereby. Additions, alterations or improvements to the Premises in amounts exceeding One Hundred Thousand Dollars ($100,000) on any one occasion shall require Landlord’s consent, which consent shall not be unreasonably withheld, conditioned or
delayed. Landlord shall have no right, except upon the request of or express prior written approval by Tenant (which approval may be withheld in Tenant’s sole discretion), to construct additions, alterations or improvements on the Premises.
Upon expiration or earlier termination of the Term, Tenant shall not be required to remove or restore any Alterations, provided that Tenant shall be entitled to remove any Alterations if Tenant restores the Premises to its condition prior to such
Alterations. 
 12.02 Tenant shall cause any Alterations performed by it to be performed in a good and workmanlike manner, using
materials and equipment at least equal in quality and class to the existing components of the Building. Tenant shall obtain all necessary permits and certificates for final governmental approval of the Alterations. Tenant shall be solely responsible
for obtaining a certificate of occupancy for all Alterations, and shall observe and comply with all applicable provisions of the laws granting construction liens for persons providing goods or services for the improvement of real estate. 

12.03 Tenant shall defend, indemnify and hold harmless Landlord against, and at Tenant’s expense, shall procure the satisfaction or
discharge of record of any construction liens resulting from Alterations contracted for by Tenant within sixty (60) days after the filing thereof; or in lieu thereof, Tenant may procure (for Landlord’s benefit) a bond or other protection
against any such lien or encumbrance. If and in the event Landlord reasonably determines that any such lien if left undischarged would place Landlord’s interest in the Premises unreasonably at risk, or cause a material default under
Landlord’s mortgage of the Premises, then upon not less than ten (10) days notice to Tenant, Landlord may itself bond off such lien and invoice the cost of such bond to Tenant, payable as Additional Rent with the next installment of
minimum annual rent falling due. 
 SECTION 13 

QUIET ENJOYMENT 

13.01 So long as Tenant is not in default under this Lease beyond applicable notice and cure periods, Tenant shall have continuous and
exclusive possession of the Premises, and shall have the quiet and peaceful use and enjoyment of the Premises. 
 SECTION 14

 UTILITIES 

14.01 Tenant, at its own expense, shall purchase and pay for all utility services to the Premises. 

SECTION 15 

ESTOPPEL CERTIFICATES; SUBORDINATION; MORTGAGE 

15.01 Tenant shall at any time upon not less than ten (10) business days prior written notice from Landlord execute, acknowledge and
deliver to Landlord a statement in writing (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and
effect), the amount of any security deposit, and the date to which the rent and other 
  

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charges are paid in advance, if any, and (ii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such
defaults if any are claimed. 
 15.02 Provided that Tenant is provided with a reasonable and customary nondisturbance agreement
duly executed by the holder of any mortgage and in form and substance reasonably acceptable to Tenant, this Lease shall be subject and subordinate at all times to any mortgage or deed of trust that may now exist or hereafter be placed upon and
encumber any or all of the Premises or Landlord’s interest or estate in the Premises. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such mortgage lien to this Lease. Subject to
delivery of a signed nondisturbance agreement as aforesaid, Tenant shall execute and deliver, upon reasonable request by Landlord, a subordination agreement confirming the priority or subordination of this Lease with respect to any such mortgage.

 SECTION 16 

LANDLORD’S RIGHTS 

16.01 Landlord shall have the right, subject to Tenant’s security procedures and requirements, advance written notice of which shall
be given by Tenant to Landlord, to enter and/or pass through the Premises during normal business hours upon reasonable prior notice (except that no notice shall be required in the event of emergency threatening imminent risk of injury or damage) to
examine and inspect the Premises and to show them to actual and prospective lenders, prospective purchasers or mortgagees of the Premises or providers of capital to Landlord and its affiliates. During the period of twelve (12) months prior to
the Expiration Date (or at any time, if Tenant has abandoned the Premises or is otherwise in default beyond applicable notice and cure periods under this Lease), Landlord may exhibit the Premises to prospective tenants. Notwithstanding the
foregoing, and without limitation, Tenant may require Landlord, as a condition to permitting access to the Premises, to execute a confidentiality agreement binding upon Landlord, its employees, consultants, agents and contractors and in form
satisfactory to Tenant. 
 SECTION 17 

INDEMNIFICATION 

17.01 Tenant will protect, indemnify and hold harmless Landlord from and against any and all claims, actions, damages (excluding loss of
profits and consequential and speculative damages), liability and expenses (including court costs, reasonable fees of attorneys, investigators and experts) in connection with loss of life, personal injury or damage to property at the Premises to the
extent occasioned wholly or in part by any negligent act or omission of Tenant, its employees, agents, licensees and guests, whether prior to or during the Lease Term. In case any action or proceeding is brought against Landlord by reason of the
foregoing, Tenant, at its expense, shall resist and defend such action or proceeding, or cause the same to be resisted and defended by counsel (reasonably acceptable to Landlord) designated by the insurers whose policy covers such occurrence or by
counsel designated by Tenant and approved by Landlord. Tenant’s obligations pursuant to this Section 17.01 shall survive the expiration or termination of this Lease. 

SECTION 18 

CONDEMNATION 

18.01 If the entire Premises are taken or condemned by governmental authority (or a conveyance in lieu thereof is made by Landlord), this
Lease shall terminate as of the date title is transferred. If a portion of the Premises that is material to Tenant’s operations is taken or condemned by governmental authority (or a conveyance in lieu of any such material portion is made by
Landlord) and Tenant is unable to make reasonable changes to allow continuance of operations on an economic basis comparable to that which existed prior to such taking or condemnation, then this Lease may, at Tenant’s sole option, be terminated
effective upon the date title to such material portion is transferred or such later date as Tenant may specify in its termination notice. If, in the event of a taking or condemnation, Tenant does not elect to terminate this Lease, an equitable
reduction shall be made to all rent thereafter required to be paid by Tenant hereunder. All sums which may be payable on account of any taking or condemnation shall belong to the Landlord, and Tenant shall not be entitled to any part thereof,
provided, however, that Tenant shall be entitled to retain any amount awarded for Tenant’s trade fixtures, leasehold improvements, 

 

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moving expenses, loss of business, or for any other item specifically awarded to Tenant or otherwise which does not pertain to property owned by Landlord or otherwise affect Landlord’s
award. 
 SECTION 19 

ASSIGNMENT OR SUBLETTING 

19.01 Tenant agrees not to assign or in any manner mortgage, encumber or transfer this Lease or any interest in this Lease without the
previous written consent of Landlord, and not to sublet the Premises or any part of the premises or allow anyone to use or to come in with, through or under it without like consent; provided, however, that such consent shall not be unreasonably
withheld, conditioned or delayed. In no event may Tenant assign or otherwise transfer this Lease or any interest in this Lease at any time while in default hereunder. One such consent will not be deemed a consent to any subsequent assignment,
subletting, occupation, or use by any other person. Any merger or sale of stock of a corporate tenant, or of partnership interests in a partnership tenant, or of membership interests in a limited liability company, involving the transfer of fifty
percent (50%) or more of the ownership interest of such tenant as of the date of this Lease shall be considered an assignment or subletting of this Lease or the Premises for purposes of this Section 19. So long as Tenant is not in default
under this Lease beyond applicable notice and cure periods, Tenant may, however, assign this Lease to a corporation with which it may merge or consolidate, to any parent, affiliate or subsidiary of Tenant or subsidiary of Tenant’s parent, or to
a purchaser of substantially all of Tenant’s assets if the assignee has assets and creditworthiness substantially equal to or greater than Tenant and if the assignee executes an agreement required by Landlord assuming Tenant’s obligations
and if Guarantor ratifies its obligations under the Guaranty after such assignment. In the absence of a written agreement to the contrary, there shall be no release of the Tenant and/or Guarantor. The acceptance of rent from an assignee, subtenant
or occupant will not constitute a release of Tenant from the further performance of the obligations of Tenant contained in this Lease. 

19.02 If Tenant assigns all its rights and interests under this Lease, the assignee under such assignment shall expressly assume all the
obligations of Tenant hereunder in an instrument, approved by Landlord as to form and substance (which approval will not be unreasonably withheld or delayed), delivered to Landlord at the time of such assignment. No assignment or sublease made as
permitted by this Section 19.02 shall affect or reduce any of the obligations of Tenant hereunder, and all such obligations shall continue in full effect as obligations of a principal and not as obligations of a guarantor or surety, to the same
extent as though no assignment or subletting had been made, provided that performance by any such assignee or sub lessee of any of the obligations of Tenant under this Lease shall be deemed to be performance by Tenant. No sublease or assignment made
as permitted by this Section 19.02 shall impose any obligations on Landlord or otherwise affect any of the rights of Landlord under this Lease. Neither this Lease nor the term hereby demised shall be mortgaged by Tenant, nor shall Tenant
mortgage or pledge the interest of Tenant in and to any sublease of the Premises or the rentals payable there under. Any mortgage, pledge, sublease or assignment made in violation of this Section 19.02 shall be void. Tenant shall, within ten
days after the execution and delivery of any such assignment or the sublease of all or substantially all of the Premises deliver a conformed copy thereof to Landlord. Within ten days after the execution and delivery of any sublease of a portion of
the Premises, Tenant shall give notice to Landlord of the existence and term thereof, and of the name and address of the subtenant there under. 

SECTION 20 

FIXTURES AND EQUIPMENT 

20.01 Subject to Section 20.02 below, all fixtures, machinery, equipment, improvements and appurtenances attached to, or built into,
the Premises at the commencement of, or during the Term, including overhead cranes installed as of the Commencement Date (but not any replacements of such overhead cranes), excepting those placed there by or at the expense of Tenant, shall become
and remain a part of the Premises; shall be deemed the property of Landlord, without compensation or credit to Tenant; and shall not be removed by Tenant at the Expiration Date unless Landlord requests their removal. 

20.02 All movable non-structural partitions, business and trade fixtures, machinery and equipment, communications equipment and office
equipment, that are installed in or affixed to the Premises by, or for the 
  

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account of, Tenant without expense to Landlord and that can be removed without structural damage to the Premises, any overhead crane which is installed after the Commencement Date whether or not
replacing an existing crane and related infrastructure installed by Tenant, and all furniture, furnishings and other articles of movable personal property owned by Tenant and located in the Premises (collectively, the “Tenant’s
Property”) shall be and shall remain the property of Tenant and may be removed by Tenant at any time during the Term, provided Tenant repairs or pays the cost of repairing any damage to the Premises resulting from the removal thereof. At or
before the Expiration Date, or the date of any earlier termination, Tenant, at its expense, shall remove from the Premises all of Tenant’s Property (except such items thereof as Landlord shall have expressly permitted, in writing, to remain,
which property shall become the property of Landlord), and Tenant shall repair any damage to the Premises or the Premises resulting from removal of Tenant’s Property. Any other items of Tenant’s Property that shall remain in the Premises
for more than thirty (30) days after the Expiration Date, or more than thirty (30) days following an earlier termination date, may, at the option of Landlord, be deemed to have been abandoned, and in such case, such items may be retained
by Landlord as its property or be disposed of by Landlord. 
 SECTION 21 

NOTICES 
 21.01
Any notice required to be given by either party pursuant to this Lease shall be in writing and shall be deemed to have been properly given, rendered or made only if personally delivered, or if sent by Federal Express or other comparable commercial
overnight delivery service, addressed to the other party at the addresses set forth below (or to such other address as Landlord or Tenant may designate to each other from time to time by written notice), and shall be deemed to have been given,
rendered or made on the day so delivered or on the first business day after having been deposited with the courier service: 
  

			
	 If to Landlord

		  	KB Building, LLC
		  	9725 South Industrial Drive
		  	Bridgeview Illinois 60455
		  	Attn: David J Langevin
		
	 If to Tenant:
	  	
		  	Manitex International, Inc.
		  	9725 South Industrial Drive
		  	Bridgeview Illinois 60455
		  	Attn: Andrew Rooke

 SECTION 22 

DEFAULT; REMEDIES 

22.01 Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay any installment of
rent and such failure continues for more than seven (7) days after delivery to Tenant of written notice from Landlord that such rent installment was not paid when due under this Lease; (b) if Tenant fails to timely comply with any or all
of the other obligations specifically imposed on Tenant under this Lease and such failure continues for more than thirty (30) days after Landlord’s delivery to Tenant of written notice of such default; provided, however, that if the
default cannot, by its nature, be cured within such thirty (30) day period, Tenant shall not be deemed in default if and so long as it commences a cure of such default within the initial thirty (30) day cure period, and thereafter
diligently and continuously pursues such cure to completion; or (c) Tenant or any guarantor hereof shall file a petition in bankruptcy of insolvency or for reorganization or arrangement under the bankruptcy laws of the United States or under
any insolvency act of any state, or shall voluntarily take advantage or any such law or act by answer or otherwise, or shall be dissolved or shall make an assignment for the benefit of creditors. 

 

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 22.02 (a) Landlord, in addition to the remedies given in this Lease or under the law,
may do any one or more of the following if Tenant commits a default under Section 22.01: 
 (i) terminate this Lease, in
which case Tenant shall then surrender the Premises to Landlord; or 
 (ii) enter and take possession of the Premises in
accordance with applicable law and remove Tenant, with or without having ended the Lease. 
 (b) In the event of declaration of
forfeiture pursuant to 22.02(a)(ii) above at or after the time of re-entry, Landlord may re-lease the Premises or any portion(s) of the Premises for a term or terms and at a rent which may be less than or exceed the balance of the Term of and the
rent reserved under this Lease. In such event Tenant will pay to Landlord as liquidated damages for Tenant’s default any deficiency between the total rent reserved and the net amount, if any, of the rents collected on account of the lease or
leases of the Premises which otherwise would have constituted the balance of the term of this Lease. In computing such liquidated damages, there will be added to the deficiency any expenses which Landlord may incur in connection with re-leasing,
such as legal expenses, reasonable attorneys’ fees, brokerage fees and expenses, advertising and for keeping the Premises in good order or for preparing the Premises for re-leasing. Any such liquidated damages will be paid in monthly
installments by Tenant on the date which minimum net rental is due and any suit brought to collect the deficiency for any month will not prejudice Landlord’s right to collect the deficiency for any subsequent month by a similar proceeding. In
lieu of the foregoing computation of liquidated damages, Landlord may elect, at its sole option, to receive liquidated damages in one payment equal to any deficiency between the total rent reserved hereunder and the fair and reasonable rental of the
premises, both discounted at ten percent (10%) per annum to present value at the time of declaration of forfeiture. 
 (c)
Landlord shall use its best efforts to mitigate its damages by making commercially reasonable efforts to relet the Premises on reasonable terms. Landlord may relet for a shorter or longer period of time than the Term and make any necessary repairs
or alterations. Landlord may relet on any commercially reasonable terms including a reasonable amount of free rent. If Landlord relets for a period of time longer than the current Lease Term, then any special concessions given to the new tenant
shall be allocated throughout the entire reletting Term to not unduly reduce the amount of consideration received by Landlord during the remaining period of Tenant’s Term. 

22.03 Landlord shall be in default of this Lease if it fails to perform any obligation of Landlord under this Lease and such failure is
not cured within forty-five (45) days after written notice thereof is given by Tenant to Landlord; however, if such failure cannot reasonably be cured within forty-five (45) days, Landlord shall not be in default of this Lease if Landlord
commences to cure the failure within such forty-five (45) day period, diligently continues to cure the default, and completes the cure within an additional 90 days. If Landlord does not act with diligence to cure the default or such default
remains uncured after the expiration of the Landlord’s cure period or if, in an emergency situation where Tenant will suffer material harm if it does not act immediately to cure the default and provides Landlord with contemporaneous telephonic
notice (followed by written notice to Landlord) of the nature of the emergency and the limited cure that Tenant plans to undertake (which cure shall be limited only to protect against material harm to Tenant), Tenant may cure the default at
Landlord’s expense (to the extent that the costs and expenses of the cure are reasonable). If pursuant to the foregoing Tenant pays any reasonable sum in order to cure Landlord’s default, such reasonable sum shall be reimbursed, together
with interest thereon at 10% per annum, by Landlord to Tenant upon forty-five (45) days’ written notice, which notice shall include all necessary supporting documentation, and Tenant shall not be entitled to offset any such amounts
against minimum net rent or any other amount due under this Lease. 
 SECTION 23 

SURRENDER OF PREMISES; HOLDOVER 

23.01 On the last day of the Term, or upon any earlier termination of this Lease, (a) Tenant shall deliver the Premises to Landlord
in the condition required to be maintained by Tenant under this Lease, subject to ordinary wear and tear, casualty loss, and such conditions, damage or destruction as Landlord is required to repair or restore under this Lease, and (b) Tenant
shall remove all of Tenant’s Property from the Premises. The obligations imposed under the preceding sentence shall survive the termination or expiration of this Lease. If Tenant remains in possession of the Premises after the Expiration Date
or after any earlier termination date of this Lease or of Tenant’s right to possession: (a) Tenant shall be deemed a month to month tenant; (b) Tenant shall pay one hundred ten 

 

 10 

 
percent (110%) of the minimum net rent last prevailing hereunder; and (c) there shall be no renewal or extension of this Lease by operation of law. The provisions of this
Section 23.01 shall not constitute a waiver by Landlord of any re-entry rights of Landlord provided hereunder or by law. 

SECTION 24 

PERFORMANCE BY LANDLORD OF TENANT’S COVENANTS 

24.01 If Tenant defaults beyond applicable notice and cure periods in the performance of any non-monetary covenant of Tenant under this
Lease, Landlord may (but shall not be required to), and without waiving or release Tenant from any of Tenant’s obligations, perform the covenant. All out of pocket costs reasonably incurred by Landlord in performing such covenant shall be
deemed additional rent and shall be payable, together with interest thereon at the prime rate published from time to time by the Wall Street Journal, to Landlord within forty-five (45) days after delivery by Landlord of an invoice to Tenant.

 SECTION 25 

NON-WAIVER; LEGAL COSTS; PARTIES BOUND 

25.01 The failure of either party to insist, in any one or more instances, upon the strict performance of any one or more of the
obligations of this Lease, or to exercise any election herein contained, shall not be construed as a waiver or relinquishment for the future of the performance of such one or more obligations of this Lease or of the right to exercise such election,
but the Lease shall continue and remain in full force and effect with respect to any subsequent breach, act or omission. The receipt and acceptance by Landlord of any rent or other payment with knowledge of breach by Tenant of any obligation of this
Lease shall not be deemed a waiver of such breach. Any party in breach or default under this Lease (the “Defaulting Party”) shall reimburse the other party (the “Nondefaulting Party”) upon demand for any reasonable costs or
expenses that the Nondefaulting Party incurs in connection with the breach or default, regardless whether suit is commenced or judgment entered. Such costs shall include legal fees and costs incurred for the negotiation of a settlement, enforcement
of rights or otherwise. Furthermore, in the event of litigation, the court in such action shall award to the party in whose favor a judgment is entered, a reasonable sum as attorneys’ fees and costs, which sum shall be paid by the losing party.
Except as otherwise expressly provided for in this Lease, this Lease shall be binding upon, and inure to the benefit of, the successors and assignees of the parties hereto. In the event of a sale or conveyance by Landlord of the Premises, the same
shall operate to release Landlord from liability for any of Landlord’s obligations under this Lease to the extent such obligations have not accrued or are otherwise not required to be observed or performed at or prior to the date of such sale
or conveyance, except that the purchaser or grantee shall be deemed to have assumed liability for the performance and observance of all covenants and agreements of Landlord under the Lease whether or not accrued at the time of the sale or
conveyance. No obligation of Landlord or Tenant shall arise under this Lease until this Lease is signed by, and delivered to, both Landlord and Tenant. 

SECTION 26 

BROKERS 
 26.01
Landlord and Tenant each represent and warrant to the other that they have not contracted with a broker, finder or similar person in connection with this Lease, and each party shall defend, indemnify and hold the other harmless from and against all
liability, cost and expense, including reasonable attorneys’ fees, incurred as a consequence of any claim asserted by a person alleging to have contracted or dealt with one of the parties hereto in connection with this Lease. 

SECTION 27 

TENANT’S EXTENSION OPTIONS 

27.01 Tenant shall have the option to extend the term of this Lease for six additional one year periods, the first such extension period
beginning on the first day of the seventy third full calendar month after the Commencement 
  

 11 

 
Date and ending on the last day of the eighty-fourth (84th
) full calendar month after the Commencement Date (such extension period hereinafter referred to as the “First Extension Term”). Similarly, each additional successive extension
period (from time to time referred to herein as the “Extension Terms”) shall commence on the first day immediately following the expiration of the preceding term, and terminate at the end of twelve months thereafter. Notwithstanding the
foregoing, however, Tenant shall not be entitled to so extend the Term of the Lease if Tenant is in default under this Lease at the time for exercise of any such extension beyond applicable notice and cure periods provided herein. The option to
extend the Term granted to Tenant shall be automatic for each successive Extension Term, and each successive Extension Term shall commence automatically upon the expiration of the then current Term unless, Tenant gives written notice to Landlord,
not less than six (6) months prior to the Expiration Date of the First, or any subsequent Extension Term, that it wishes not to extend the Term beyond the then current Expiration Date. 

27.02 Tenant’s possession of the Premises during the Extension Terms shall be under and subject to all the terms, covenants and
conditions set forth in the Lease, with the exception that the minimum net rental payable during any Extension Term shall be the then-market rate for similar industrial buildings within the market area for the Premises. In the event the parties are
unable in good faith to agree upon the market rent for any Extension Term, the issue shall be determined by three independent MAI appraisers with commercial/industrial rental real estate experience in the area where the Premises is located, one
selected by Landlord, one by Tenant, and the third by the other two so chosen. The parties shall each appoint their respective appraiser within ten (10) days after either party declares an impasse by written notice to the other, and the third
appraiser shall be selected within ten (10) days after the first two are chosen. The third appraiser shall, within ten (10) days of receipt of the two appraisers’ determinations, select the determination of Landlord’s or
Tenant’s appraiser which he or she believes reflects the market rent. The determination of the third appraiser shall be binding upon Landlord and Tenant, and judgment thereon may be entered in any court of competent jurisdiction. Provided
however, in no event shall the minimum net rent payable for any Extension Term be less than the minimum net rent payable for the preceding Term or Extension Term regardless of the determination made by any appraiser. The cost of the third appraiser
shall be borne equally by Landlord and Tenant. 
 SECTION 28 

TENANT’S OPTION TO PURCHASE; 

LANDLORD’S PUT RIGHTS 

28.01. Landlord hereby grants to Tenant the option (the “Purchase Option”) to purchase the Premises in accordance with and
subject to the terms hereof., provided that no Event of Default has occurred, and is then continuing, Tenant may exercise the Purchase Option at any time prior to the date that is 180 days prior to the expiration of the term of this Lease, or any
extension thereof, by written notice from Tenant to Landlord (the “Purchase Option Notice”). If and when Tenant shall exercise the Purchase Option by delivering the Purchase Option Notice as aforesaid, then Landlord shall sell to
Purchaser, and Purchaser shall purchase from Landlord, the Premises subject to and in accordance with the terms and provisions of this Section 28. 

28.02 Tenant hereby grants to Landlord the option (the “Put Option”) to require Tenant to purchase the Premises from Landlord
in accordance with and subject to the terms hereof. If a “Change of Control” Event (as hereinafter defined) occurs during the term of the Lease term, then thereafter Landlord may exercise the Put Option at any time prior to the date that
is 180 days prior to the expiration of the term of this Lease, or any extension thereof, by written notice from Landlord to Tenant (the “Put Option Notice”). If and when Landlord shall exercise the Put Option by delivering the Put Option
Notice as aforesaid, then Landlord shall sell to Purchaser, and Purchaser shall purchase from Landlord, the Premises subject to and in accordance with the terms and provisions of this Section 28. For purposes hereof, a “Change of
Control” shall be deemed to have occurred if Tenant(i) sells, conveys, leases all or a majority of its assets; or (ii) another entity merges into Tenant or Tenant consolidates with or merges into any other entity and Tenant is not the
surviving entity and/or the shareholders of the Tenant own less than a majority of the economic and voting rights of the surviving entity; or (iii) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d)
of the Exchange Act) is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Securities and Exchange Act of 1934, directly or indirectly, of more than 50% of the total voting power of the Voting Stock of Tenant, whether as
a result of issuance of securities of Tenant, any merger, consolidation, liquidation or dissolution of the Tenant, any direct or indirect transfer of securities or 

 

 12 

 
otherwise; or (iv) during any period of two consecutive years, individuals who at the beginning of such period constituted the Board of Directors of Tenant (together with any new directors
whose election by such Board of Directors or whose nomination for election by the shareholders of the Tenant was approved by a vote of 60% of the directors of Tenant then still in office who were either directors at the beginning of such period or
whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of Tenant then in office. 

28.03 (a) If either Tenant shall exercise its Purchase Option or Landlord shall exercise its Put Option, then the purchase price for
the Premises (the “Purchase Price”) shall be equal to the Fair Market Value. “Fair Market Value” shall mean, as of the then scheduled closing date, an amount equal to the purchase price that a willing purchaser would then pay and
a willing seller would then accept for an arm’s length sale and purchase of the Property as of the then scheduled closing date, assuming the following (and taking into account all relevant factors not inconsistent with the following):
(i) neither the seller nor the purchaser was under any compulsion or duress to act; (ii) the Property is being conveyed subject to this Lease (i.e. as if this Lease remains in full force and effect), and (iii) the Property would
otherwise be delivered in its “as is” condition as of the then scheduled closing date. 
 (b) Within 15 days after
Landlord has received the Purchase Option Notice or Tenant has received the Put Option Notice (as the case may be), Landlord and Tenant shall each advise the other of its initial determination of the Fair Market Value (and the basis for such initial
determination), and thereafter the parties shall endeavor to agree upon the Fair Market Value. If, as of the date that is 30 days after Landlord has received the Purchase Option Notice or Tenant has received the Put Option Notice (as the case may
be), Landlord and Tenant have not reached agreement as to the Fair Market Value, then at the request of either party (and as the sole consequence of such failure) the Fair Market Value shall be determined as follows: the Fair Market Value shall be
determined by arbitration conducted in accordance with the Real Estate Valuation Arbitration Rules (Expedited Procedures) of the American Arbitration Association (“AAA”), except that the provisions of this Section shall supersede any
conflicting or inconsistent provisions of said rules. The party requesting arbitration shall do so by giving notice to that effect to the other party, specifying in said notice the nature of the dispute, and that said dispute shall be determined in
the City of Chicago, Il, by one arbitrator in accordance with this Section. If the parties fail to agree upon an arbitrator within 14 days after either party first requests arbitration, then either Landlord or Tenant may request the AAA to appoint
an arbitrator who shall be impartial and shall meet the necessary criteria set forth in this Section, and both parties shall be bound by any appointment so made. If no such arbitrator shall have been appointed within 14 days after request to the
AAA, either Landlord or Tenant may apply to any court having jurisdiction to make such appointment. At such time as the arbitrator has been selected, (i) Landlord shall provide the arbitrator (and Tenant) with Landlord’s final
determination of the Fair Market Value (“Landlord’s Final Determination”), and (ii) Tenant shall provide the arbitrator (and Landlord) with Tenant’s final determination of the Fair Market Value (“Tenant’s Final
Determination”); and if, within 10 days after the selection of the arbitrator, either party fails to so provide the arbitrator with such party’s final determination of the Fair Market Value, then the other party’s determination shall
constitute the Fair Market Value for all purposes hereof. The arbitrator shall schedule a hearing where the parties and their advocates shall have the right to present evidence, call witnesses and experts and cross-examine the other party’s
witnesses and experts. Within 14 days after such hearing, the arbitrator shall render his or her determination of the Fair Market Value in writing, which determination must be equal to (without modification) either Landlord’s Final
Determination or Tenant’s Final Determination, and shall submit same to Landlord and Tenant. The arbitrator’s determination of the Fair Market Value shall be final and binding upon the parties. The fees and expenses of any arbitration
governed by this Section shall be borne by the parties equally, but each party shall bear the expense of its own attorneys and experts and the additional expenses of presenting its own proof. The arbitrator shall not have the power to add to, modify
or change any of the provisions hereof. The arbitrator shall subscribe and swear to an oath fairly and impartially to determine such dispute. The arbitrator shall be an independent, “MAI” designated appraiser (by the Appraisal Institute or
its successor) who (x) has at least 10 years’ experience in the valuation of office properties that are similar in character and location to the Property, and (y) has never been engaged by, is not a relative of any principal of, and
does not otherwise have any relationship with, Landlord or Tenant (and the appraiser shall be required to certify to Landlord and Tenant that it meets the criteria in this clause (y)). It is expressly understood that any determination of the Fair
Market Value shall be based on the assumptions and criteria stated in this Section. 
  

 13 

 28.04. (a) The closing shall occur on a date mutually agreeable to Landlord and Tenant,
which date shall be not later than ninety (90) days after the establishment of the Purchase Price. The closing shall be held at 10:00 a.m., at the offices of Landlord’s attorneys or, at Landlord’s option, at the offices of
Landlord’s lending institution, or at any other place agreed to by Landlord and Tenant in writing. 
 (b) The Property
shall be conveyed subject only to (i) all title matters in existence as of the commencement date of this Lease, (ii) this Lease, and (iii) such matters created by Tenant or arising out of Tenant’s use and occupancy of the
Property, but free and clear of the lien of any mortgage, deed of trust, security interest and encumbrance created by or resulting from acts of any party other than Tenant without the express written consent of Tenant. 

(c) Any transfer tax, documentary deed stamps, gains tax and any other tax or governmental charges customarily paid in connection with
the sale of real property in the state in which the Property is located, any recording and filing charges incurred in connection with the recording of the deed to the Property, survey charges, and any title insurance premiums necessary to insure
good fee title in Tenant, shall be paid in full by Tenant in cash or certified check at the closing to the appropriate governmental authorities or agencies. Landlord shall pay all other closing costs and charges incident to the conveyance of the
Property which are customarily paid by a seller of real property in the state in which the Property is located, and Tenant shall pay all other closing costs and charges incident to the conveyance of the Property which are customarily paid by a
purchaser of real property in the state in which the Property is located. Each party shall pay its own legal fees and administrative costs incurred in connection with any such conveyance of the Property to Tenant. 

(d) Landlord shall convey title to Tenant or its designee by delivery of a special warranty deed (in proper statutory form for recording,
duly executed and acknowledged) and shall deliver such title as any reputable title insurance company which is licensed to do business in the state in which the Property is located would be willing to insure at its regular rates for standard title
insurance coverage. 
 (e) There shall be no closing adjustments, other than for rents (including the rent payable by Tenant
under this Lease for the month in which the closing occurs), taxes, operating expenses, prepaid insurance premiums, and any other accrued obligations of either party under this Lease. 

(f) Tenant shall pay the Purchase Price for the Property to Landlord as provided herein by certified or bank check or, at Landlord’s
option, by wire transfer of Federal Funds to an account designated by Landlord to Tenant in writing, and Landlord shall deliver to Tenant or its designee the deed hereinabove referred to, together with any other documents or instruments necessary or
desirable to effectuate the conveyance of the Property in accordance herewith. 
 SECTION 29 

BANKRUPTCY OR INSOLVENCY 

29.01 Conditions to the Assumption and Assignment of this Lease under Chapter 7, 11 or 13 of the Bankruptcy Code: In the event that
Tenant shall become a Debtor under Chapter 7, 11 or 13 of the Bankruptcy Code, and the Trustee or Tenant shall elect to assume this Lease for the purpose of assigning this lease, such election and assignment may only be made if all of the terms and
conditions of Sections 30.02 and 30.04 hereof are satisfied. The Tenant acknowledges that Landlord has executed this Lease based on Tenant’s inducements as to its financial integrity, business experience and ability to continuously occupy and
use the Premises. Under these circumstances, Tenant agrees that should Tenant, as Debtor-In-Possession, or any Trustee appointed for Tenant, fail to elect to assume this Lease within sixty (60) days after the filing of the petition in
bankruptcy, this Lease shall be deemed to have been rejected, Tenant further knowingly and voluntarily waives any right to seek additional time to affirm or reject this Lease and acknowledges that there is no cause to seek such extension. If Tenant,
as Debtor-In-Possession, or the Trustee abandons the Premises, the same shall be deemed a rejection of this Lease. Landlord shall be entitled to at least thirty (30) days prior written notice from Tenant, as Debtor-In-Possession, or its Trustee
of any intention 
  

 14 

 
to abandon the Premises. Landlord shall thereupon be immediately entitled to possession of the Premises without further obligation to Tenant or the Trustee, and this Lease shall be cancelled, but
Landlord’s right to be compensated for damages in such proceeding shall survive. 
 29.02 Conditions to the Assumption of
this Lease In Bankruptcy Proceedings: 
 (a) No election by the Trustee or Debtor-In-Possession to assume this Lease, whether
under Chapter 7, 11 or 13, shall be effective unless each of the following conditions which Landlord and Tenant acknowledge are commercially reasonable in the context of a bankruptcy proceeding of Tenant, have been satisfied, and Landlord has so
acknowledged in writing, and The Trustee or the Debtor-In-Possession has cured, or has provided Landlord adequate assurance (as defined below). 

(i) Within ten (10) days from the date of such assumption the Trustee will cure all monetary defaults under this Lease; and

 (ii) Within thirty (30) days from the date of such assumption the Trustee will cure all nonmonetary defaults under this
Lease. 
 (2) The Trustee or the Debtor-In-Possession has compensated, or has provided to Landlord adequate assurance that
within ten (10) days from the date of assumption Landlord will be compensated for any pecuniary loss incurred by Landlord arising from the default of Tenant, the Trustee, or the Debtor-In-Possession as recited in Landlord’s written
statement of pecuniary loss sent to the Trustee or Debtor-In-Possession. 
 (3) The Trustee or the Debtor-In-Possession has
provided Landlord with adequate assurance of the future performance (as defined below) of each of Tenant’s, the Trustee’s or Debtor-In-Possession’s obligations under this Lease provided, however, that: 

(i) The Trustee or Debtor-in-Possession shall also deposit with Landlord, as security for the timely payment of minimum net rent and
additional rent, an amount equal to three (3) months minimum net rent and additional rent accruing under this Lease; and 

(ii) If not otherwise required by the terms of this Lease, the Trustee or Debtor-In-Possession shall also pay in advance on a rent day
one-twelfth (1/12th) of Tenant’s annual obligations under this Lease for real estate taxes, insurance premiums and similar charges. 

(iii) The obligations imposed upon the Trustee or Debtor-In-Possession shall continue with respect to Tenant or any assignee of this
Lease after the completion-of bankruptcy proceedings. 
 (4) The assumption of this Lease will not breach any provision in any
other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the Premises; or 
 (5)
The Tenant as Debtor-In-Possession or its Trustee shall provide the Landlord at least forty-five (45) days prior written notice of any proceeding concerning the assumption of this Lease. 

(b) For purposes of this Section 30, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a
minimum, “adequate assurance” shall mean: 
 (1) The Trustee or the Debtor-In-Possession has and will continue to have
sufficient unencumbered assets after the payment of all secured obligations and administrative expenses to assume Landlord that the Trustee or Debtor-In-Possession will have sufficient funds to fulfill the obligations of Tenant under this Lease.

 (2) The Bankruptcy Court shall have entered an Order segregating sufficient cash payable to Landlord and/or the Trustee or
Debtor-In-Possession shall have granted a valid and perfected first lien and security interest and/or mortgage in property of Tenant, the Trustee or Debtor-In-Possession, acceptable as to value and kind to Landlord, to secure to Landlord the
obligation of the Trustee or Debtor-In-possession to cure the monetary and/or nonmonetary defaults under this Lease within the time periods set forth above. 

29.03 Landlord’s Option to Terminate upon Subsequent Bankruptcy Proceedings of Tenant; in the event that this Lease is assumed by a
Trustee appointed for Tenant or by Tenant as Debtor-In-Possession, under the provisions of Section 29.02 hereof, and thereafter Tenant is liquidated or files a subsequent petition for reorganization or adjustment of debts under Chapter 11 or 13
of the Bankruptcy Code, then, and in either of such events, Landlord 
  

 15 

 
may, at its option, terminate this Lease and all rights of Tenant hereunder, by giving Tenant written notice of its election to so terminate, within thirty (30) days after the occurrence of
either of such events. 
 29.04 Conditions to the Assignment of this Lease in Bankruptcy Proceedings: If the Trustee or
Debtor-In-Possession has assumed this Lease pursuant to the terms and provisions of Sections 29.01 and 29.02 hereof, for the purpose of assigning (or elects to assign) Tenant’s interest under this Lease or the estate created thereby, to any
other person, such interest or estate may be so assigned only if Landlord shall acknowledge in writing that the intended assignee has provided adequate assurance as defined in this Section 29.04 of future performance of all of the terms,
covenants end conditions of this Lease to be performed by Tenant. For purposes of this Section 29.04, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a minimum, “adequate assurance of future
performance” shall mean that each of the following conditions have been satisfied, and Landlord has so acknowledged in writing: 

(a) The assignee has submitted a current financial statement audited by a Certified Public Accountant which shows a net worth and working
capital in amounts determined to be sufficient by Landlord to assure the future performance by such assignee of Tenant’s obligations under this Lease. 

(b)satisfactory to Landlord from one or more persons who satisfy Landlord’s standards of creditworthiness. 

(c) The Landlord has obtained all consents or waivers from any third party required under any lease, mortgage, financing arrangement or
other agreement by which Landlord is bound to permit Landlord to consent to such assignment. 
 29.05 Use and Occupancy Charges:
When, pursuant to the Bankruptcy Code, the Trustee or Debtor-In-Possession shall be obligated to pay reasonable use and occupancy charges for the use of the Premises or any portion thereof, such charges shall not be less than the minimum net rent as
defined in this Lease, additional rent and all other monetary obligations of Tenant as set forth in this Lease. 
 29.06
Tenant’s Interest not Transferable by Virtue of State Insolvency Law without Landlord’s Consent: Neither Tenant’s interest in this Lease, nor any lesser interest of Tenant herein, nor any estate of Tenant hereby created, stall pass to
any trustee, receiver, assignee for the benefit of creditors, or any other person or entity, or otherwise by operation of law under the laws of any state having jurisdiction of the person or property of Tenant (hereinafter referred to as the
“state law”) unless Landlord shall consent to such transfer in writing. No acceptance by Landlord of rent or any other payments from any such trustee, receiver, assignee, person or other entity shall be deemed to have waived, nor shall it
waive the need to obtain Landlord’s consent, or Landlord’s right to terminate this Lease for any transfer of Tenant’s Interest under this Lease without such consent. 

29.07 Landlord’s Option to Terminate upon Insolvency of Tenant or Guarantor under State Law or upon Insolvency of Guarantor under
Federal Bankruptcy Law: In the event the estate of Tenant created hereby shall be taken in execution or by process of law, or if Tenant or Tenant’s guarantor (“Guarantor”) (if applicable), shall be adjudicated insolvent pursuant to
the provisions of any present or future insolvency law under state law, or if any proceedings are tiled by or against the Guarantor under the Bankruptcy Code, or any similar provisions of any future federal bankruptcy law, or if a custodian,
receiver or trustee of the property of Tenant or the Guarantor shall be appointed under state law by reason of Tenant’s or the Guarantor’s Insolvency or their inability to pay their debts as they become due or otherwise, or if any
assignment shall be made of Tenant’s or the Guarantor’s property for the benefit of creditors under state law; then and in such event Landlord may, at its option, terminate this Lease and all rights of Tenant hereunder by giving Tenant
written notice of the election to so terminate within thirty (30) days after the occurrence of such event. 
 SECTION 30

 GENERAL 

30.01 This Lease can be modified or amended only by a written agreement signed by Landlord and Tenant. 

 

 16 

 30.02 Upon request of either Landlord or Tenant, the parties shall execute a memorandum of
this Lease in recordable form. 
 30.03 The laws of the State where the Premises are located will control in the construction
and enforcement of this Lease, without regard to conflicts of law principles. 
 30.04 Time is of the essence in all respects
under this Lease. If the time for performance hereunder falls on a Saturday, Sunday or a day that is recognized as a holiday in such State, then such time shall be deemed extended to the next day that is not a Saturday, Sunday or recognized holiday.

 30.05 All prior understandings and agreements between the parties are merged into this Lease, which alone fully and
completely expresses the agreements and understandings of the parties. 
 30.06 The illegality, invalidity or unenforceability
of any term or provision of this Lease shall not affect or render illegal, invalid or unenforceable any other term or provision, all of which shall remain in full force and effect. 

30.07 This Lease may be executed in several counterparts, each of which shall be an original but all of which shall collectively comprise
a single instrument. 
 IN WITNESS WHEREOF, the Landlord and Tenant have executed this Lease as of the date set forth on page 1.

  

							
	LANDLORD:	 	TENANT:
		
	KB Building, LLC ,	 	MANITEX, INTERNATIONALINC.,
	An Illinois limited liability company	 	a Michigan corporation
				
	 By:
	 	 /s/ David J. Langevin
	 	By:	 	 /s Andrew Rooke

	Its:	 	  
	 	Its:	 	  

				
		 		 		 	  

		 		 		 	Notary Public
		 		 		 	                             
                            County, Illinois
		 		 		 	Acting in                     
		 		 		 	 County, Michigan

		 		 		 	 My Commission Expires:
                                    

		 		 	  

 

  

 17Backstop Commitment Agreement, dated May 24,2010 between AbitibiBowater Inc

 Exhibit 10.1 

EXECUTION VERSION 

BACKSTOP COMMITMENT AGREEMENT 

May 24, 2010 
 AbitibiBowater Inc.

 1155 Metcalfe Street, Suite 800 

Montreal, Quebec, Canada H3B5H2 
 Ladies and
Gentlemen: 
 We understand that AbitibiBowater Inc. (as a debtor-in-possession and a reorganized debtor, as applicable, the
“Company”) and certain of its subsidiaries and its affiliates (together with the Company, the “U.S. Debtors”) have filed the Debtors’ First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated May 24, 2010 (attached hereto as Exhibit A, as the same may be amended, supplemented or modified from time to time in accordance with the terms therein and herein, the “U.S. Plan”), in the chapter
11 cases of the U.S. Debtors pending in the United States Bankruptcy Court for the District of Delaware (the “U.S. Bankruptcy Court”) and will file a disclosure statement for the U.S. Plan, which shall be in form and substance
reasonably satisfactory to the Majority Investors (as the same may be amended, supplemented or modified from time to time in accordance with the terms therein and herein, the “U.S. Disclosure Statement”) and a motion seeking
approval of solicitation, voting and rights offering procedures with respect to the U.S. Plan and Disclosure Statement (the “Solicitation Motion”). Capitalized terms shall have the meanings set forth in Section 27 hereof
or, if not otherwise defined, the meanings ascribed to them in the Plans (as defined below). 
 We also understand that the
Monitor for the CCAA Debtors has filed a report dated May 4, 2010, attaching the Plan of Reorganization and Compromise under the Companies’ Creditors Arrangement Act (Canada), R.S.C. 1985, c. C-36 (as amended, the
“CCAA”) and Section 191 of the Canada Business Corporations Act, and will file a further report attaching an amended version thereof on or about May 24, 2010 (attached hereto as Exhibit B, as the same may be
amended, supplemented or modified from time to time in accordance with the terms therein and herein, the “CCAA Plan” and, together with the U.S. Plan, the “Plans”) in the CCAA cases pending before the Quebec
Superior Court of Justice, Commercial Division, for the Judicial District of Montreal, Canada (the “Canadian Court” and, together with the U.S. Bankruptcy Court, the “Courts”) and will file a notice of creditors
meeting and information circular pertaining to the CCAA Plan, which shall be in form and substance reasonably satisfactory to the Majority Investors (as the same may be amended, supplemented or modified from time to time in accordance with the terms
therein and herein, the “Canadian Circular” and, together with the U.S. Disclosure Statement, the “Disclosure Documents”) and a motion for the Circular Order. 

Subject to the Company’s right to seek a higher, better, or alternative transaction pursuant to an auction process and bidding
procedures approved by the U.S. 

 
Bankruptcy Court and the Canadian Court (the “Bid Procedures”), the Plans will, among other things, provide for a rights offering (the “Rights Offering”) to
holders of Class 6 Claims under the U.S. Plan and to holders of Affected Unsecured Claims under the CCAA Plan, in each case, excluding holders that receive distributions in cash pursuant to any convenience class (each an “Eligible
Holder” and such claims, “Eligible Claims”) of rights (each a “Right”) to purchase on the Effective Date up to $500,000,000 in aggregate principal amount of convertible unsecured subordinated notes of the
Company (the “Notes” and the issuance of such Notes is referred to herein as the “Note Issuance”), subject to reduction as described in Section 1. The terms of the Notes are set forth on
Exhibit C attached hereto (the “Convertible Notes Term Sheet”). Subject to the terms and on the conditions set forth in the Convertible Notes Term Sheet, the Notes will be convertible at the option of the holder into a
number of shares of common stock, par value $0.001 per share, of the Company (the “Common Shares”) based on a conversion price equal to $1,800,000,000 (plus any consideration to be received upon issuance of common shares pursuant to
the terms of any instrument included in the denominator of this conversion price calculation) divided by the number of Common Shares outstanding on a fully diluted basis on the Effective Date after giving effect to the consummation of the Plans,
other than Conversion Shares and any Backstop Shares and Common Shares, the issuance of which would be anti-dilutive as of the Effective Date (the “Conversion Price”). 

In order to facilitate the Rights Offering, pursuant to this backstop commitment agreement (the “Commitment Agreement”)
and subject to the terms, conditions and limitations set forth herein and in the Convertible Notes Term Sheet, each respective undersigned investor (acting individually or through one or more of its Affiliates, as such term is defined in Rule 12b-2
of the Exchange Act (each an “Investor” and, collectively, the “Investors”), severally and not jointly, agrees to deliver the Purchase Price per Note on the Escrow Date and to purchase on the Effective Date, and the
Company agrees to sell, for the Purchase Price per Note, such Investor’s Backstop Percentage of such Notes as are offered pursuant to the Rights Offering but not purchased on or before the expiration of the Rights Offering (such unpurchased
Notes in the aggregate, the “Unsubscribed Notes”). 
 In consideration of the foregoing, and the
representations, warranties and covenants set forth herein, and other good and valuable consideration, the Company and each Investor, severally and not jointly, agrees as follows: 

1. The Rights Offering. 

(a) Subject to the terms and on the conditions set forth in this Commitment Agreement, the Company’s right to seek a higher, better,
or alternative transaction in accordance with the Bid Procedures, the approval of the U.S. Disclosure Statement by the U.S. Bankruptcy Court (the “Disclosure Statement Order” and the date such order is entered, the
“Disclosure Statement Date”) and the approval of the mailing of the Canadian Circular and procedures for voting on the CCAA Plan and holding creditor meetings in connection with the CCAA Plan by the Canadian Court (the
“Circular  
  

 2 

 
Order”, together with the Disclosure Statement Order, the “Disclosure Document Orders”), the Company shall commence, administer and consummate the Rights Offering in
accordance with the Plans, the Disclosure Documents and the related materials for solicitation of acceptances of the Plans, including subscription forms as necessary for each Eligible Holder to exercise its Right (the “Rights Exercise
Form”). 
 (b) The Company shall offer and sell the Notes, with a principal amount of $1.00 per Note, in an aggregate
principal amount equal to the Amount, pursuant to the Rights Offering to Eligible Holders as of the date determined by the U.S. Bankruptcy Court to be the record date for purposes of voting on the U.S. Plan (such date being applicable to creditors
of the U.S. Debtors and the CCAA Debtors for the purposes of the Rights Offering, the “Rights Offering Record Date”). Each Eligible Holder shall be offered a Right to purchase Notes at a purchase price of $1.00 per Note (the
“Purchase Price”) for up to such integral number of Notes equal to its proportionate share of the estimated amount of all Common Shares to be issued under the Plans on account of all Eligible Claims as of the Rights Offering Record
Date (i) based on the amount of such claims allowed for voting purposes pursuant to the order of the U.S. Bankruptcy Court approving the Solicitation Motion, approving the Disclosure Statement Order, or any other order of the U.S. Bankruptcy
Court entered on or before the Rights Offering Record Date and (ii) as set forth on the claims database maintained by the Monitor that records Eligible Claims determined in accordance with the applicable orders of the Canadian Court and takes
into account claims accepted or revised by the Monitor or determined by a Claims Officer or pursuant to an order of the Canadian Court, and also records disallowed and disputed claims. The amount of Rights offered to Eligible Holders per $1.00 of
Eligible Claims of such Eligible Holder as described herein shall be called the “Initial Rights Ratio”. At the time the Notes are issued, the Company shall cause an amount in cash equal to $0.04 per Note purchased by such Eligible
Holder to be paid back to such Eligible Holder from the proceeds of the sale of such Notes (the “Upfront Payment”). 

(c) Subject to Section 1(d)(ii), the Rights may be exercised during the period concurrent with the U.S. Debtors’
solicitation of votes on the U.S. Plan, which period will commence on the first date the Rights Exercise Form is distributed by mail to a single holder of Eligible Claims, and will end at the Expiration Time. For the purposes of this Commitment
Agreement, the “Expiration Time” means 4:00 p.m. New York City time on the Voting Deadline, or such later date as the Company may specify in a notice provided to the Eligible Holders before 9:00 a.m. New York City time on
the Business Day before the then-effective Expiration Time. 
 (d) (i) Subject to clause (ii), in order to exercise a Right,
each Eligible Holder shall, prior to the Expiration Time (A) return a duly executed Rights Exercise Form to the Subscription Agent and (B) pay an amount equal to the full Purchase Price of the number of Notes elected to be purchased by
such Eligible Holder by wire transfer in U.S. Dollars of immediately available funds to an escrow account established by a bank to be selected by the Company (the “Escrow Agent”) for the Rights Offering. 

 

 3 

 (ii) If during the period after the Rights Offering Record Date but on or before the
fortieth (40th) day after the Disclosure Statement Date, pursuant to an order of the U.S. Bankruptcy Court, an order of the Canadian Court or pursuant to a claims modification accepted or revised by the Monitor or a decision of a claims officer
appointed by the Canadian Court: 
  

	 	(x)	any Eligible Holder’s Eligible Claim is increased (each, a “Subsequent Eligible Holder”), then the Subscription Agent shall deliver to each such
Subsequent Eligible Holder a Rights Exercise Form permitting each such Subsequent Eligible Holder to exercise a number of incremental Rights as determined by applying the Initial Rights Ratio to the amount of Eligible Claims held by such Subsequent
Eligible Holder, as reduced by the number of Rights previously offered to such Subsequent Eligible Holder. Such additional Rights will be available for exercise by each Subsequent Eligible Holder during the period which will commence on the Business
Day selected by the Company and expire no earlier than ten (10) days thereafter (the “Subsequent Rights Expiry Time”). For a Subsequent Eligible Holder to exercise Rights, a Subsequent Eligible Holder shall, by no later than
the Subsequent Rights Expiry Time, (A) return a duly executed Rights Exercise Form to the Subscription Agent and (B) pay an amount equal to the full Purchase Price of the number of Notes elected to be purchased by such Subsequent Eligible
Holder by wire transfer in U.S. Dollars of immediately available funds to an escrow account established by the Escrow Agent for the Rights Offering; and 

  

	 	(y)	any Eligible Holder’s Eligible Claim is reduced, then the number of Rights to which the Eligible Holder is entitled shall be reduced accordingly by applying the
Initial Rights Ratio to the reduced Eligible Claim and withdrawing any Rights previously issued to such Eligible Holder in excess of the resulting amount (the “Right Entitlement Reduction”). The Notes associated with such withdrawn
Rights as a result of a Right Entitlement Reduction shall become Unsubscribed Notes. In the event the Eligible Holder has previously exercised the Rights that are withdrawn by the Right Entitlement Reduction, such Rights will be deemed not to have
been exercised and any funds paid on account of such Rights will be refunded to such Eligible Holder as soon as reasonably practicable following the Subsequent Rights Expiry Time. 

(e) In the event the Amount as of the Effective Date shall be less than $500,000,000, on or before the Supplement Filing Date the Company
shall file with the U.S. Bankruptcy Court and simultaneously deliver to the Monitor and the Investors a notice specifying the Amount, as reduced (the “Reduction Notice”). Any election given pursuant to clause (iii) of the
definition of Liquidity shall be contained in a written notice to the Investors, delivered pursuant to Section 13 at the time the Reduction Notice is delivered, which notice shall describe, in reasonable detail, the assets being sold,

  

 4 

 
transferred or otherwise disposed of, the agreements pursuant to which such sales, transfers or other dispositions are to be made, the expected amount of net proceeds to be generated thereby and
the amount of Liquidity being added pursuant to clause (iii) of the definition thereof. If the sum of all Rights timely exercised by all Eligible Holders and Subsequent Eligible Holders (collectively, the “Rights Exercised”)
exceeds the Amount, after giving effect to any applicable reduction of the Amount pursuant to Section 1(b) and set forth in the Reduction Notice, the aggregate principal amount of Notes to be purchased by each Eligible Holder and each
Subsequent Eligible Holder shall be adjusted to be the product of (x) the principal amount of Notes requested to be purchased by the exercise of Rights by such Eligible Holder or Subsequent Eligible Holder and (y) the ratio of the Amount,
as may be reduced in accordance with this Section 1(e), divided by the sum of all Rights Exercised. As soon as reasonably practicable after the Subsequent Rights Expiry Time, the Subscription Agent shall notify each Eligible Holder and
each Subsequent Eligible Holder of the aggregate principal amount of Notes, if any, available for purchase by giving effect to the adjustment set forth in this Section 1(e). 

(f) On or before the twenty-fifth (25th) date following the Expiration Time (the “Determination Date”), the Company
shall give the Investors by electronic facsimile transmission the certification by an executive officer of the Company conforming to the requirements specified herein for such certification of either (i) the aggregate principal amount of each
such Investor’s Unsubscribed Notes and the aggregate Purchase Price therefor, after giving effect to any reduction in the Rights Offering as described in the Reduction Notice and the adjustments described in Section 1(e) (a
“Purchase Notice”) or (ii) in the absence of any Unsubscribed Notes or as a result of the Company’s election to reduce the Note Issuance to zero, the termination of the Backstop Commitment (a “Satisfaction
Notice”). 
 (g) In the event that (i) the Amount is reduced to less than $500,000,000 or (ii) one or more
Subsequent Eligible Holders exercises Rights by the Subsequent Rights Expiry Time, then the aggregate amount of (i) and (ii) shall be applied, first, to reduce the amount of Unsubscribed Notes on a dollar-for-dollar basis, and
second, to adjust the principal amount of Notes to be purchased by each Eligible Holder and each Subsequent Eligible Holder as described in Section 1(e) above. No later than two (2) Business Days after the Determination Date,
or as soon as reasonably practicable thereafter, the Subscription Agent shall return to each Eligible Holder and each Subsequent Eligible Holder any portion of the Purchase Price as necessary to reflect the reduction of Notes available for purchase
by Eligible Holders and Subsequent Eligible Holders. 
 (h) Each Investor agrees that on the Effective Date such Investor will
purchase, severally and not jointly, and the Company agrees to sell to each Investor, for the Purchase Price per Note, (i) to the extent exercised (which shall remain in the discretion of each Investor), the Notes issued upon exercise of the
Rights, if applicable, allocated to such Investor under the Plans in respect of its Eligible Claims (the “Investor’s Commitment Notes”) plus (ii) the percentage of Unsubscribed Notes as set forth on Schedule 1(h)
hereto (the “Backstop Percentage”), and the Company shall pay to each Investor the applicable Upfront Payment in respect of all such Notes. 
  

 5 

 (i) If a Purchase Notice is delivered in accordance with this Section 1 and
Section 2(f), each Investor shall, on the Escrow Date, deliver to the Escrow Agent the aggregate Purchase Price set forth in the Purchase Notice provided to such Investor to be held in escrow pending occurrence of the Effective Date.

 (j) On the Effective Date, the Company shall issue to the Eligible Holders the Notes with respect to which Rights were
validly exercised by such Eligible Holder; provided, that if the exercise of a Right would result in the issuance of Notes in denominations less than $1.00 and integral multiples thereof, then the number of Notes to be issued in respect of
such Rights will be rounded down to the nearest $1.00. 
 (k) [Reserved]. 

(l) The number of Notes for which any Eligible Holder may subscribe in the Rights Offering may be decreased by the Company to the extent
required, after consultation with counsel or as required by the U.S. Bankruptcy Court, to allow the Rights Offering to be exempt from registration under the Securities Act pursuant to section 1145 of the Bankruptcy Code (the “1145
Cutback”). Any Notes excluded from the Rights Offering due to a Section 1145 Cutback will instead be offered to the Investors for purchase on or before the Effective Date as Unsubscribed Notes. In addition to the 1145 Cutback and
notwithstanding Section 18, the Company shall be permitted to make modifications to the notice deadlines and other mechanics of the Rights Offering described in Section 1 as reasonably necessary to permit the Company to
conduct the Rights Offering, so long as such modifications do not have an adverse impact on the Investors (other than an adverse impact that is immaterial). 

(m) Each Rights Exercise Form shall include a certification from each Eligible Holder, certifying that such Eligible Holder
(i) understands that the Rights are not transferable separately from such Eligible Holder’s prepetition claim with respect to which Rights have been granted and (ii) has not entered into and agrees that, prior to the Effective Date,
it shall not enter into any transaction involving a direct or indirect transfer of Rights, including derivatives, options, swaps, pledges, forward sales or other transactions in which any other person receives the right to own or acquire a Right.

 2. The Backstop Commitment. 

(a) On the basis of the representations and warranties contained herein, but subject to the terms and conditions set forth herein, each
Investor agrees, severally and not jointly, to subscribe for and purchase on the Effective Date, and the Company agrees to sell and issue, at the Purchase Price per Note, the principal amount of Unsubscribed Notes (the “Investor’s
Unsubscribed Notes”), calculated by multiplying (x) such Investor’s Backstop Percentage times (y) the aggregate number of Unsubscribed Notes (the “Backstop Commitment”). 

(b) [Reserved]. 

(c) On the basis of the representations and warranties herein contained, but subject to the terms and conditions set forth herein, the
Company will make an aggregate 
  

 6 

 
payment to all Investors that execute this Commitment Agreement equal to the greater of (x) $15,000,000 and (y) 6.0% of the Amount, which amount shall be payable on the Effective Date
(the “Backstop Payment”) to compensate each Investor for the risk of its undertaking pursuant to this Commitment Agreement. Fifty percent of the aggregate Backstop Payment shall be payable in cash and fifty percent of the aggregate
Backstop Payment shall be payable in Common Shares based upon the Conversion Price; provided, however, that an Investor may elect to receive the full amount of its Backstop Payment in Common Shares by notice delivered to the Company in
accordance with Section 13 not later than the Escrow Date. The percentage of the Backstop Payment allocated to each Investor is as set forth on Schedule 1(h) hereto. The Backstop Shares will be delivered to the Investors on the
Effective Date in accordance with written instructions specified by each Investor to the Company at least 24 hours in advance. The cash portion of the Backstop Payment will be made by wire transfer of immediately available funds on the Effective
Date. The Backstop Payment will be payable whether or not there are any Unsubscribed Notes and will be fully earned and nonrefundable when paid on the Effective Date; provided, however, that in no event shall the Investors receive both
the Backstop Payment and the Termination Payment. 
 (d) The Company shall pay an aggregate termination payment to all Investors
in the amounts set forth below (each a “Termination Payment”) upon the earlier to occur of the Effective Date or the effective date of any alternative transaction or other plan, as applicable if this Commitment Agreement is
terminated pursuant to Sections 12(a)(iii), 12(a)(iv), 12(a)(v), 12(a)(vi), Sections 12(b)(i), 12(b)(ii), 12(b)(iii), 12(b)(iv), 12(b)(v), 12(b)(vii), 12(b)(viii), 12(b)(ix), 12(b)(x)(other
than with respect to the conditions contained in Section 7(a)), 12(b)(xi), or Sections 12(c)(ii), 12(c)(iii), 12(c)(iv), or 12(c)(v): 

(i) if termination of this Commitment Agreement occurs after the date on which the Termination Payment is approved by the U.S. Bankruptcy
Court but on or before the earlier of (x) the date on which this Commitment Agreement is approved by the U.S. Bankruptcy Court and (y) the later date on which an alternative transaction is approved by the U.S. Bankruptcy Court or Canadian
Court (the “Approval Date”), the Termination Payment payable to all Investors shall be an aggregate amount equal to the lesser of (x) $15,000,000 and (y) 5% of the capital raised in any alternative transaction, but not
less than $7,500,000; 
 (ii) if termination of this Commitment Agreement occurs after the Approval Date but on or before
October 15, 2010, the Termination Payment payable to all Investors shall be an aggregate amount equal to $15,000,000; or 

(iii) if termination of this Commitment Agreement occurs after October 15, 2010, the Termination Payment payable to all Investors
shall be an aggregate amount equal to the greater of (x) $15,000,000 and (y) 6% of the Amount as in effect on October 15, 2010. 

(iv) The percentage of the aggregate Termination Payment allocated to each Investor is as set forth on Schedule 1(h).
Notwithstanding anything to the contrary 
  

 7 

 
herein, at an Investor’s election by notice delivered to the Company in accordance with Section 13 not less than two (2) Business Days before the date on which the
Termination Payment is due and payable, such Investor’s percentage of the Termination Payment shall be payable on the Effective Date in Common Shares rather than cash. The Termination Payment will be fully earned and non-refundable when paid.
The provision for the making of the Termination Payment is an integral part of the transactions contemplated by this Commitment Agreement, and without this provision the Investors would not have entered into this Commitment Agreement and shall,
subject to the approval of the entry of the order(s) approving the Termination Payment, constitute an allowed administrative expense of the Company under section 364(c)(1) of the Bankruptcy Code that is junior to all superpriority and administrative
claims arising under the Final Order (1) Approving Postpetition Financing; (2) Authorizing Use of Cash Collateral; (3) Granting Liens and Providing Superpriority Expense Status; (4) Granting Adequate Protection; and
(5) Modifying the Automatic Stay (dated June 4, 2009 and conformed on June 16, 2009, the postpetition financing approved thereby, the “Bowater DIP Agreement”). 

(e) Subject to the entry of the orders approving the Termination Payment and the reimbursement of Transaction Expenses, the Company will
reimburse or pay, as the case may be, on the Approval Date and on a monthly basis thereafter until the Effective Date, the documented fees and out-of-pocket expenses reasonably incurred by or on behalf of each Investor payable to Shearman &
Sterling LLP, Kramer Levin Naftalis & Frankel LLP and Torys LLP and up to $50,000 in the aggregate per Investor for fees and out-of-pocket expenses incurred by one counsel and one Canadian counsel to an Investor with respect to the
transactions contemplated hereby and all U.S. Bankruptcy Court, Canadian Court and other judicial and regulatory proceedings related to such transactions arising on or before the Effective Date (collectively, “Transaction Expenses”)
within ten (10) days of presentation of an invoice, without review by the U.S. Bankruptcy Court or the Canadian Court or further U.S. Bankruptcy Court order or Canadian Court order. The filing fees, if any, required by the HSR Act shall be paid
by the Company when filings under the HSR Act are made. 
 (f) As promptly as practicable, but in any event at least five
(5) Business Days prior to the Escrow Date, the Company will provide a Purchase Notice or a Satisfaction Notice to each Investor as provided above, setting forth a true and accurate determination of the aggregate number of such Investor’s
Unsubscribed Notes, if any; provided, that on the Effective Date such Investor will purchase, and the Company will sell, only such number of such Investor’s Unsubscribed Notes as are listed in the Purchase Notice, without prejudice to
the rights of such Investor to seek later an upward or downward adjustment if the number of such Investor’s Unsubscribed Notes set forth in such Purchase Notice is inaccurate. 

(g) Delivery of each Investor’s Unsubscribed Notes will be made by the Company to the respective accounts of the Investors (or to
such other accounts as an Investor may designate) as early as practicable on the Effective Date against payment of the aggregate Purchase Price for such Investor’s Unsubscribed Notes by wire transfer of U.S. federal (same day) funds to the
account specified by the Company to the Escrow Agent and each Investor at least 24 hours in advance of the Effective Date. 
  

 8 

 (h) All of the Investors’ Unsubscribed Notes will be delivered with any and all issue,
stamp, transfer or similar taxes or duties payable in connection with such delivery duly paid by the Company to the extent required under the Confirmation Order, the Sanction Order or applicable law. The Notes issued to the Investors shall not be
subject to any withholding. 
 (i) The documents to be delivered on the Escrow Date by or on behalf of the parties hereto will
be delivered to the Company pursuant to Section 13. 
 (j) In the event that any Investor defaults on its obligation
to purchase its Backstop Percentage of the Unsubscribed Notes, any payment otherwise allocable hereunder to such Defaulting Investor shall be re-allocated to the Investor(s) who assume such Defaulting Investor’s obligations hereunder on a pro
rata basis, or if such obligation is not assumed by any Investor, to any third parties which assumed such Defaulting Investor’s obligations hereunder (as provided in Section 24 below) on a pro rata basis. 

(k) Notwithstanding anything to the contrary in this Commitment Agreement, each Investor, in its sole discretion, may designate that some
or all of the Unsubscribed Notes be issued in the name of and delivered to, one or more of its Affiliates or any other third party that is able to make the representations set forth in Section 4(f), Section 4(g) and
Section 4(h) hereof. 
 (l) No Investor shall have any liability for the Backstop Commitment of any other Investor.

 (m) In the event that the Effective Date does not occur on or before the Outside Date, the Company shall return to each
Investor no later than five (5) Business Days after the Outside Date the full amount of the Purchase Price paid by such Investor, including in respect of such Investor’s Unsubscribed Shares. 

3. Representations and Warranties of the Company. Except as set forth in the Exchange Act Documents, the Company represents and warrants to, and
agrees with, the Investors as set forth below. Except for representations, warranties and agreements that are expressly limited as to their date, each representation, warranty and agreement is made as of the date hereof and as of the Effective Date:

 (a) Organization and Power. The Company is and on the Effective Date will be, a corporation duly organized, validly
existing and in good standing under the laws of Delaware, with all requisite corporate power and authority to own, lease and operate its properties and assets and to carry on its business as presently conducted. Each of the Company and its
Subsidiaries is and on the Effective Date will be, duly qualified to do business and in good standing as a foreign corporation (or other legal entity) in each jurisdiction where the ownership, leasing or operation of its assets or properties or
conduct of its business requires such qualification, except where the failure to be so qualified or in good standing would not, individually or in the aggregate, have a Material Adverse Effect. Neither the Company nor any Subsidiary of the Company
is in violation of its certificate of incorporation, bylaws or other equivalent organizational or governing documents, except where the violation in the case of Subsidiaries of the Company would not, individually or in the aggregate, have a Material
Adverse Effect. 
  

 9 

 (b) Capitalization. Upon the Effective Date, the authorized shares of capital stock
of the Company will be as described in the Disclosure Documents. Subject to completion of the Necessary Bankruptcy Process, all of the Common Shares outstanding on the Effective Date and all of the Common Shares reserved for issuance on the
Effective Date (including the Conversion Shares), when issued in accordance with the respective terms thereof, will be duly authorized, validly issued, fully paid and non-assessable and free of preemptive or similar rights. 

(c) Authorization. Subject to the completion of the Necessary Bankruptcy Process, the Company will have (i) all requisite
corporate power to enter into the Transaction Documents and to carry out and perform its obligations under the terms of the Transaction Documents and (ii) all corporate action on the part of the Company necessary for the authorization,
execution, delivery and performance of the Transaction Documents and the consummation of the transactions contemplated herein and therein will have been taken, other than board of directors’ approval of or other board action to be taken with
respect to, the documents to implement the Rights Offering. Subject to the completion of the Necessary Bankruptcy Process, and assuming the Transaction Documents constitute the legal, valid and binding agreement of the other parties thereto, this
Commitment Agreement, and upon execution by the other parties thereto, each of the other Transaction Documents, will constitute a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by the Enforceability Exceptions. 
 (d) Valid Issuance. Subject to the
completion of the Necessary Bankruptcy Process, the distribution of the Rights has been duly and validly authorized. Subject to the completion of the Necessary Bankruptcy Process, (i) the Securities, including the Securities to be issued and
delivered by the Company to the Investors hereunder, will have been duly authorized, (ii) the Notes, when issued and delivered against payment therefor in the Rights Offering or to the Investors hereunder in accordance with the terms of the
Indenture, will be valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms and the terms of the Indenture, subject to the Enforceability Exceptions, (iii) the guarantees of the Notes,
when issued and delivered against payment therefor in accordance with the terms of the Indenture, will be valid and legally binding obligations of the applicable guarantor, enforceable against such guarantor in accordance with their terms and the
terms of the Indenture, subject to the Enforceability Exceptions, (iv) when the Conversion Shares are issued and delivered upon conversion of the Notes, such Conversion Shares will be duly authorized, validly issued, fully paid and
non-assessable and free of preemptive or similar rights and (v) when the Backstop Shares are issued and delivered against payment therefor to the Investors hereunder, such Backstop Shares will be duly authorized, validly issued, fully paid and
non-assessable and free of preemptive or similar rights. 
 (e) No Conflict. Subject to the completion of the Necessary
Bankruptcy Process, the distribution of the Rights, the sale, issuance and delivery of the Notes upon 
  

 10 

 
exercise of the Rights and the consummation of the Rights Offering by the Company and the execution and delivery (or, with respect to the Plans, the filing) by the Company of this Commitment
Agreement and the Plans and compliance by the Company with all of the provisions hereof and thereof and the consummation of the transactions contemplated herein and therein (including compliance by each Investor with its obligations hereunder and
thereunder) (i) will not conflict with or result in a breach or violation of, any of the terms or provisions of, or constitute a default under (with or without notice or lapse of time, or both), or result, except to the extent provided in or
contemplated by the Plans, in the acceleration of or the creation of any lien under, any post-petition agreement or agreement to be entered into at the Effective Date to which the U.S. Debtors or the CCAA Debtors are or will be a party or by which
the U.S. Debtors or the CCAA Debtors are or will be bound or to which any of the property or assets of the U.S. Debtors or the CCAA Debtors is or will be subject and (ii) will not result in any violation of any applicable provisions of any
Applicable Law, except in any such case described in subclause (i) or (ii) as will not have or could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and except in any such case described in
subclause (ii), for (x) the approval by the U.S. Bankruptcy Court and the Canadian Court of the Company’s authority to enter into and implement this Commitment Agreement, and (y) such consents, approvals, authorizations, registrations
or qualifications as may be required under federal securities laws or state securities or blue sky laws or under Canadian Securities Laws. 

(f) Consents. Subject to the completion of the Necessary Bankruptcy Process, all consents, approvals, orders and authorizations of
any Governmental Entity, required on the part of the Company or its Subsidiaries in connection with the execution, delivery or performance of the Transaction Documents and the Guarantee and the issuance of the Securities have been obtained or made,
other than (i) the entry of the U.S. Court Orders and the Canadian Orders and the expiration or waiver by the Courts of the applicable Stay Periods, (ii) the registration under the Securities Act or qualification by way of prospectus or
exemption therefrom under Canadian Securities Laws of resales of the Securities, (iii) the expiration or termination of any applicable waiting periods under the HSR Act or any applicable requirements under foreign law in connection with the
issuance of the Securities, (iv) the filing with the Secretary of State of the State of Delaware or the Canadian federal, provincial or territorial equivalent, as applicable, of the Certificate of Incorporation to be applicable to the Company
from and after the Effective Date and (v) such consents, approvals, authorizations, registrations or qualifications (x) as may be required under federal securities laws, state or provincial securities or Blue Sky laws or under Canadian
Securities Laws in connection with the purchase of the Securities by the Investors or (y) the failure of which to make or obtain would not reasonably be expected to have a Material Adverse Effect. 

(g) Securities Filings. The documents filed under the Exchange Act with the Commission or pursuant to Canadian provincial or
territorial securities laws (“Canadian Securities Laws”) prior to the date of this Commitment Agreement (the “Exchange Act Documents”), when they became effective or were filed with the Commission or the Canadian
provincial and territorial securities regulatory authorities (“Canadian Commissions”) as the case may be, complied in all material respects with the 

 

 11 

 
requirements of the Securities Act, the Exchange Act, the Sarbanes-Oxley Act of 2002 and Canadian Securities Laws, as the case may be, and the applicable rules and regulations promulgated
thereunder. As of the date hereof, none of the Exchange Act Documents contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. 
 (h) Financial Statements. Except for quarterly financial
statements of subsidiaries filed on Form 8-K and other financial reports filed on Form 8-K after the Petition Date, the financial statements (including all related notes and schedules) of the Company and its Subsidiaries included in the Exchange Act
Documents complied as to form in all material respects with the published rules and regulations of the Commission and the Canadian Commissions, to the extent required, with respect thereto, fairly present in all material respects the consolidated
financial position of the Company and its Subsidiaries as of the dates indicated, and the results of their operations and their cash flows for the periods therein specified, all in accordance with U.S. generally accepted accounting principles or
Canadian generally accepted accounting principles, as applicable, throughout the periods therein specified (except as otherwise noted therein, and in the case of quarterly financial statements except for the absence of footnote disclosure and
subject, in the case of interim periods, to normal year-end adjustments). Each Investor acknowledges that the Company’s financial statements described above do not reflect the terms of the Plans or the effect of fresh-start accounting.

 (i) Independent Accountants. PricewaterhouseCoopers LLP, who have certified the financial statements of the Company
and its consolidated Subsidiaries, is an independent registered public accounting firm with respect to the Company and its consolidated Subsidiaries. 

(j) Compliance with Laws. The Company and each of its Subsidiaries is in compliance with and is not in default under or in
violation of any Applicable Law, except where such non-compliance, default or violation would not, individually or in the aggregate, have a Material Adverse Effect. 

(k) Investment Company Act. The Company has been advised of the rules and requirements under the Investment Company Act. The
Company is not, and immediately after receipt of payment for the Securities will not be, an “investment company” within the meaning of, and required to be registered under, the Investment Company Act. 

(l) Broker’s Fee. Except for the Blackstone Group, L.P. and BMO Capital Markets, the Company and its Subsidiaries have
engaged no brokers or finders entitled to compensation in connection with the sale of the Securities. 
 (m) Disclosure
Documents; Other Information. Upon entry of the Disclosure Statement Order by the U.S. Bankruptcy Court, the U.S. Disclosure Statement shall contain information of a kind, and in sufficient detail, as far as is reasonably practicable in light of
the nature and history of the Company and the condition of the Company’s 
  

 12 

 
books and records, that would enable a hypothetical reasonable investor typical of holders of claims or interests of the relevant class to make an informed judgment about the Plans and shall
provide “adequate information” as such term is defined in section 1125 of the Bankruptcy Code. 
 (n) Absence of
Certain Changes. Since March 31, 2010, other than as disclosed in the Exchange Act Documents or the Disclosure Documents, no event, fact or circumstance has occurred which has, or would reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. 
 4. Representations and Warranties of the Investors. Each Investor, severally and not jointly,
represents and warrants to, and agrees with respect to itself only, the Company as set forth below. Unless otherwise specified, each representation, warranty and agreement is made as of the date hereof and as of the Effective Date: 

(a) Organization and Power. Such Investor has been duly incorporated or formed, as the case may be, and is validly existing as a
corporation, limited liability company or a limited partnership, as the case may be, in good standing under the laws of its jurisdiction of organization. 

(b) Authorization; Enforceability. Such Investor has all requisite corporate or similar power to enter into this Commitment
Agreement and take all corporate action, on the part of such Investor or its stockholders, necessary for the authorization, execution, delivery and performance of this Commitment Agreement and the consummation of the transactions contemplated
herein. Assuming this Commitment Agreement constitutes the legal, valid and binding agreements of the Company, this Commitment Agreement constitutes or will when executed, as applicable, constitute a legal, valid and binding obligation of such
Investor, enforceable against such Investor in accordance with its terms, except as such enforceability may be limited by the Enforceability Exceptions. 

(c) No Conflict. The execution, delivery and performance of this Commitment Agreement by such Investor and the consummation by
such Investor of the transactions contemplated herein will not (i) violate any provision of its certificate of incorporation or bylaws (or other organizational documents), (ii) conflict with, result in a breach of, or constitute (with due
notice or lapse of time or both) a default under any material contractual obligation to which it is a party, or (iii) assuming (x) the accuracy of the representations made by the Company in Section 3 and (ii) the consents,
approvals, orders and authorizations referred to in Section 4(e) have been obtained, conflict with or violate any Applicable Law, other than, in the case of clauses (ii) and (iii), as would not, individually or in the
aggregate, be reasonably expected to materially delay or hinder the ability of such Investor to perform its obligations under this Commitment Agreement. Each Investor acknowledges the provisions of Sections 1(l) and 1(m) and represents that
it does not have any arrangements, agreements, contracts (in each case written, unwritten or otherwise) with respect to voting on amendments, waivers and consents to this Commitment Agreement requiring approval of Majority Investors or Supermajority
Investors. 
  

 13 

 (d) Proceedings. No litigation or proceeding before any Governmental Entity is
pending against it that would adversely affect such Investor’s ability to perform its obligations hereunder. 
 (e)
Consents. All consents, approvals, orders and authorizations of any Governmental Entity required on the part of such Investor in connection with the execution, delivery or performance of this Commitment Agreement and the consummation by such
Investor of the other transactions contemplated herein have been obtained or made, other than (i) the expiration or termination of the applicable waiting period under the HSR Act or any applicable requirements under any other domestic or
foreign law in connection with the issuance of the Securities to such Investor, and (ii) such consents, approvals, orders and authorizations the failure of which to make or obtain, individually or in the aggregate, would not reasonably be
expected to materially delay or hinder the ability of such Investor to perform its obligations under this Commitment Agreement. 

(f) Sufficiency of Funds. Such Investor has, or is the investment advisor or investment manager for entities that have, and on the
Escrow Date will have, or is the investment advisor or investment manager for entities that will have, sufficient immediately available funds to make and complete the payment of the aggregate Purchase Price for its portion of the Notes. 

(g) Investor Status. Such Investor certifies and represents to the Company that the Investor is an “accredited investor”
as defined in Rule 501 of Regulation D promulgated under the Securities Act. Such Investor is acquiring the Securities for its own account or accounts managed by it, for investment and not with a view toward distribution within the meaning of the
Securities Act. Such Investor’s financial condition is such that it is able to bear the risk of holding the Securities for an indefinite period of time and the risk of loss of its entire investment. Such Investor has sufficient knowledge and
experience in investing in companies similar to the Company so as to be able to evaluate the risks and merits of its investment in the Company. The decision by such Investor to subscribe for Securities and execute this Commitment Agreement has not
been based upon any verbal or written representation (other than those in this Commitment Agreement and the Exchange Act Documents) made by or on behalf of the Company or any employee or agent of the Company. Such Investor has been afforded the
opportunity to ask questions of and receive answers from the management of the Company concerning this investment, has been furnished all materials related to the business, finances and operations of the Company which it has requested of the
Company, and has sought such accounting, legal and tax advice as it deems appropriate in connection with its proposed investment under this Commitment Agreement. Such Investor acknowledges that the Company will rely upon the truth and accuracy of
the foregoing as well as the other representations, warranties and other agreements of such Investor in connection with the transactions described in this Commitment Agreement. 

(h) Securities Not Registered. Such Investor understands that the offer and sale of the Backstop Shares have not been registered
under the Securities Act, by reason of their issuance by the Company in a transaction exempt from the registration 
  

 14 

 
requirements of the Securities Act, and that the Backstop Shares must continue to be held by such Investor unless a subsequent disposition thereof is registered under the Securities Act or is
exempt from such registration. Such Investor understands that the exemptions from registration afforded by Rule 144 (the provisions of which are known to it) promulgated under the Securities Act depend on the satisfaction of various conditions, and
that, if applicable, Rule 144 may afford the basis for sales only in limited amounts. The offer, sale and issuance of the Backstop Shares is exempt from the requirements as to the filing of a prospectus or delivery of an offering memorandum in
prescribed form under Canadian Securities Laws and, as a result, such Investor may not receive information that would otherwise be provided to it under Canadian Securities Laws and the Company is relieved from certain obligations that would
otherwise apply under Canadian Securities Laws, other than as required under Section 5. Such Investor understands that it may transfer the Backstop Shares only in compliance with applicable securities laws and that the certificates or
other instruments evidencing the Securities will bear a legend to the effect of the foregoing. 
 (i) Brokers’ Fee.
Except for Broadpoint Capital, Inc. and Genuity Capital Markets, which have been engaged by certain Investors, the Investors have engaged no brokers or finders entitled to compensation in connection with the sale of the Securities for which the
Company shall be liable. 
 5. Additional Covenants of the Company. The Company agrees with each Investor: 

(a) Motion, Disclosure Statement and Plan. 

(i) The Company will prepare and file with the U.S. Bankruptcy Court by May 28, 2010, a motion in form and substance reasonably
satisfactory to the Majority Investors seeking authority to (A) pay the Termination Payment and the Transaction Expenses and also seeking approval of the Bid Procedures and (B) enter into this Commitment Agreement and approval of the
Company performing its obligations thereunder and a comparable motion to the Canadian Court (collectively, the “Backstop Agreement Motion”). 

(ii) The Company will use commercially reasonable efforts to seek U.S. Bankruptcy Court and Canadian Court approval, as applicable, of
(A) the Termination Payment, the Transaction Expenses and the Bid Procedures by June 25, 2010, (B) this Commitment Agreement by July 9, 2010, (C) the Disclosure Documents by July 29, 2010, and (D) the Plans by the
Outside Date. 
 (iii) The Company is filing with the Courts on the date of this Commitment Agreement the Plans, in the forms
attached hereto, and the Disclosure Documents. The Company will provide to the Investors, in writing prior to or contemporaneously with filing with the Courts, drafts of the Confirmation Order and the Sanction Order that are consistent in all
material respects with the provisions of the Plans, and drafts of any amendments or supplements to the Plans, the Disclosure Documents and any of the foregoing, each of which shall be reasonably acceptable to the Majority Investors. 

 

 15 

 (iv) The Company shall not make any revision, supplement, modification or amendment to the
Plans, the Disclosure Statement, the Canadian Circular or the Backstop Agreement Motion (other than any revision, supplement, modification or amendment that is not material) without the prior written consent of the Majority Investors. 

(b) Rights Offering. To effectuate the Rights Offering as provided herein and to use commercially reasonable efforts to seek entry
of orders of the U.S. Bankruptcy Court (concurrently with the approval of the U.S. Disclosure Statement), authorizing the Company to conduct the Rights Offering pursuant to the securities exemption provisions set forth in section 1145(a) of the
Bankruptcy Code and pursuant to the statutory exemptions from the prospectus requirements of Canadian Securities Laws in Section 2.11(a) and Section 2.42(1)(a) of National Instrument 45-106 – Prospectus and Registration
Exemptions. 
 (c) Unsubscribed Amount. To determine, or instruct the Subscription Agent to determine, the principal
amount Unsubscribed Notes, if any, in good faith, and to provide, or instruct the Subscription Agent to provide a Purchase Notice or a Satisfaction Notice that reflects the amount of Unsubscribed Notes as so determined and to provide to the
Investors, such written backup to the determination of the amount of Unsubscribed Notes an Investor may reasonably request. 

(d) No Stabilization. The Company will not take, directly or indirectly, any action designed to or that could reasonably be
expected to cause or result in any stabilization or manipulation of the price of the Notes. 
 (e) Registration Rights
Agreement. The Company will file with the U.S. Bankruptcy Court and the Canadian Court as soon as practicable a form of a registration rights agreement (the “Registration Rights Agreement”) in form and substance reasonably
acceptable to the Company and in form and substance reasonably acceptable to the Majority Investors. The Company and the Investors shall use commercially reasonable efforts to negotiate and execute, and seek U.S. Bankruptcy Court and the Canadian
Court approvals of, the Registration Rights Agreement as a supplement to the Plans. 
 (f) HSR. Subject to entry of the
Disclosure Document Orders, to use its commercially reasonable efforts to promptly prepare and file all necessary documentation and to effect all applications that are necessary under the HSR Act or any other similar applicable domestic law so that
the applicable waiting period shall have expired or been terminated thereunder, and any applicable requirement under similar foreign laws have been satisfied, with respect to the purchase of Notes and Backstop Shares hereunder, and not to take any
action that is intended or reasonably likely to materially impede or delay the ability of the parties to obtain any necessary approvals required for the transactions contemplated by this Commitment Agreement. 

(g) Use of Proceeds. Upon the Effective Date, the Company will apply the net proceeds from the sale of the Rights and the Notes
pursuant to the Plans. 
  

 16 

 (h) Plan Support Agreement. Promptly, and in no event later than two
(2) Business Days following the entry of the Disclosure Statement Order and the Circular Order, whichever is later in time, the Company agrees to execute and deliver the Plan Support Agreement in the form attached as Exhibit D hereto
(the “Plan Support Agreement”). 
 (i) Conduct of Business. Subject to any actions which are consistent
with the Exchange Act Documents, and except as contemplated as part of the restructuring transactions under the Plans, during the period from the date of this Commitment Agreement to the Effective Date, the Company and its Subsidiaries, taken as a
whole, shall carry on their businesses consistent with past practice and not take any of the following actions without the prior written consent of the Majority Investors, which consent shall not be unreasonably withheld, conditioned or delayed:

 (i) (A) declare, set aside or pay any dividends on, or make any other distributions in respect of, any of its capital stock
(other than upstream dividends by a direct or indirect Subsidiary of the Company to the Company or another direct or indirect subsidiary of the Company), (B) split, combine or reclassify any of its capital stock or issue or authorize the
issuance of any other securities in respect of, in lieu of or in substitution for shares of its capital stock or (C) purchase, redeem or otherwise acquire, except in connection with the Plans, any shares of capital stock of the Company or any
other securities thereof or any rights, warrants or options to acquire any such shares or other securities; 
 (ii) acquire or
agree to acquire by merging or consolidating with, or by purchasing a substantial portion of the stock, or other ownership interests in, or substantial portion of assets of, or by any other manner, any business or any corporation, partnership,
association, joint venture, limited liability company or other entity or division thereof except in the ordinary course of business; 

(iii) lease, mortgage, pledge, grant a lien, mortgage, pledge, security interest, charge, claim or other encumbrance of any kind or
nature on or otherwise encumber any of its properties or assets, except as permitted by (x) the Bowater DIP Agreement or other applicable postpetition financing or receivables facilities or (y) any order permitting the Company to utilize
cash collateral of its prepetition secured lenders; or 
 (iv) incur any indebtedness except to the extent permitted by
(x) Bowater DIP Agreement or other applicable postpetition financing or receivables facilities or (y) any order permitting the Company to utilize cash collateral of its prepetition secured lenders. 

(j) Continuing Securities Law Disclosures. For so long as any of the Backstop Shares constitute “restricted securities”
under Rule 144 under the Securities Act, the Company will furnish to the Investors and prospective investors, upon their request, and make available the information reasonably necessary to comply with Rule 144 and Rule 144A (to the extent able to be
used for such resales) with respect to resales 
  

 17 

 
of such Backstop Shares under the Securities Act, all to the extent required from time to time to enable such Backstop Shares to be sold without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 and Rule 144A (to the extent able to be used for such resales). For so long as any of the Backstop Shares or Notes are subject to restrictions or conditions on resale pursuant to National-Instrument
45-102-Resale of Securities of the Canadian Commissions, the Company shall maintain its status as a “reporting issuer” or equivalent in each of the provinces and territories of Canada. This covenant shall be of no further force or effect
with respect to the Investor if the Investor no longer holds at least 50% of the Backstop Shares issued to it pursuant to this Commitment Agreement. The indenture governing the Notes shall contain a customary provision to the same effect as the
foregoing. 
 (k) Additional Notices. The Company will give prompt notice to the Investors upon becoming aware of
(i) the discovery or occurrence or failure to occur of any event or circumstance which causes, or would be reasonably be likely to cause any representation or warrant of the Company contained in this Commitment Agreement to be untrue or
inaccurate or (ii) any failure on its part to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it under this Commitment Agreement prior to the Effective Date. No notice pursuant to this
Section 5 will affect any representations or warranties, covenants or agreements, obligations or conditions set forth herein or otherwise affect any available remedies. 

6. Additional Covenants of the Investors. Each Investor, severally and not jointly, agrees with the Company: 

(a) Information. To provide the Company with such information as the Company reasonably requests regarding the Investor for
inclusion in the Disclosure Documents and motions seeking approval of the Disclosure Documents and this Commitment Agreement. 

(b) HSR Act. To use commercially reasonable efforts to promptly prepare and file all necessary documentation and to effect all
applications that are necessary or advisable under the HSR Act or any similar applicable domestic law so that the applicable waiting period shall have expired or been terminated thereunder and any applicable requirements under similar foreign laws
have been satisfied with respect to the purchase of the Securities hereunder, and not to take any action that is intended or reasonably likely to materially impede or delay the ability of the parties to obtain any necessary approvals required for
the transactions contemplated by this Commitment Agreement. 
 (c) Support for Motions. Each Investor hereby agrees to
use commercially reasonable efforts to (i) support approval of this Commitment Agreement, (ii) support approval of the Disclosure Documents, (iii) not, nor encourage any other person or entity to, delay, impede, appeal or take any
other negative action, directly or indirectly, to interfere with, the approval of the Disclosure Documents, (iv) not commence any proceeding or prosecute, join in or otherwise support any objection to oppose or object to the Disclosure
Documents, and (v) support any motion filed by the Company with the 
  

 18 

 
U.S. Bankruptcy Court seeking to extend the period during which only the Company may file or solicit acceptances for a plan of reorganization and, in each case, after the applicable Plan Support
Agreement is approved by the U.S. Bankruptcy Court, only for so long as its Plan Support Agreement has not been terminated in accordance with its terms. 

(d) Plan Support Agreement. Promptly, and in no event later than two (2) Business Days following the entry of the Disclosure
Statement Order and the Circular Order, whichever is later in time, each Investor agrees to execute and deliver the Plan Support Agreement in the form attached as Exhibit D hereto. 

(e) Ownership of Claims. No later than five (5) days prior to the hearing before the U.S. Bankruptcy Court on approval of the
Termination Payments, or such later date as reasonably agreed by the Company and the Majority Investors, each Investor shall deliver a certificate to the Company, executed by a responsible officer, certifying that (i) such Investor or an
Affiliate thereof, as of the date thereof, is the legal owner, beneficial owner and/or investment advisor or manager for the legal or beneficial owner of such Claims against any U.S. Debtor or CCAA Debtor, including Eligible Claims (collectively,
the “Relevant Claims”) and (ii) there are no Claims of which such Investor or any of its Affiliates is the legal owner, beneficial owner and/or investment advisor or manager for such legal or beneficial owner that are not part
of its Relevant Claims unless such Investor or any of its Affiliates does not possess the full power to vote and dispose of such claims and such Investor or the applicable Affiliate thereof has the full power to vote, dispose of and compromise the
aggregate principal amount of the Relevant Claims; provided, that with respect, to J.P. Morgan Securities Inc. and Barclays Bank plc, all references to “Affiliate”, “investment advisor” or “manager” in the
preceding sentence shall be disregarded, and the foregoing covenant shall only apply to the credit trading group of J.P. Morgan Securities Inc. and/or Barclays Bank plc, (the “Credit Trading Group”), as applicable. Accordingly, the
terms “Investor” and “Party” for all purposes of this Agreement, as they relate to J.P. Morgan Securities Inc. and/or Barclays Bank plc, mean and refer to only the Credit Trading Group and such business unit’s holdings of
the Relevant Claims. For the avoidance of doubt, the covenant in this Section 6(e) of this Commitment Agreement does not apply to (i) Relevant Claims, securities, loans, other obligations or any other interests in the Company that may be
held, acquired or sold by, or any activities, services or businesses conducted or provided by, any other group or business unit within, or Affiliate of, J.P. Morgan Securities Inc. and/or Barclays Bank plc, as applicable, (ii) any credit
facilities to which J.P. Morgan Securities Inc. and/or Barclays Bank plc, as applicable, or any of their Affiliates is a party in effect as of the date hereof, (iii) any new credit facility, amendment to an existing credit facility, or debt or
equity securities offering involving J.P. Morgan Securities Inc. and/or Barclays Bank plc, as applicable, (iv) any direct or indirect principal activities undertaken by any Affiliate entity engaged in the venture capital, private equity or
mezzanine businesses, or portfolio companies in which they have investments, (v) any ordinary course sales and trading activity, (vi) any Affiliate entity or business engaged in providing private banking or investment management services
or (vii) any Relevant Claims or related claims that may be beneficially owned by non-affiliated clients of J.P. Morgan Securities Inc. and/or Barclays Bank plc, or any of their Affiliates. 

 

 19 

 7. Conditions to the Obligations of Each Party. The respective obligations of the Company and the
Investors to effect the sale and purchase of the Notes are subject to the following conditions: 
 (a) Approval of Commitment
Agreement and Termination Payment. The U.S. Bankruptcy Court and the Canadian Court shall have approved this Commitment Agreement, the Termination Payment, and the reimbursement of Transaction Expenses by June 25, 2010. 

(b) Filing of Plans and Disclosure Documents. The Company shall have filed the U.S. Plan and the U.S. Disclosure Statement with
the U.S. Bankruptcy Court and caused the CCAA Debtors to file the CCAA Plan and the Canadian Circular with the Canadian Court through a report of the Monitor, in each case incorporating the terms of this Commitment Agreement, as soon as practicable
but in no event more than five (5) Business Days after the date hereof. 
 (c) Disclosure Statement Order. The
Disclosure Statement Order shall have been entered by the U.S. Bankruptcy Court, and the Circular Order shall have been entered by the Canadian Court, each in the form reasonably satisfactory to the Majority Investors, and each shall be in full
force and effect. 
 (d) Confirmation Order and Sanction Order. The Confirmation Order shall have been entered by the
U.S. Bankruptcy Court and the Sanction Order shall have been entered by the Canadian Court. Such orders shall be reasonably acceptable to the Company and the Majority Investors, shall be in full force and effect and shall not be reversed, modified,
amended, stayed or vacated. 
 (e) HSR. The waiting period (and any extension thereof) applicable to the Plans under the
HSR Act or any other applicable similar domestic law shall have been terminated or shall have expired and any applicable requirements under similar foreign laws have been satisfied. 

(f) Registration Rights Agreement. Subject to occurrence of the Effective Date, the Registration Rights Agreement shall have been
duly authorized, executed and delivered by the Company. 
 (g) Proceedings. No order, judgment, decree, injunction or
ruling of any government, governmental agency, court or other judicial body shall exist prohibiting the consummation of the Rights Offering or the Plans. 

8. Conditions to the Obligations of the Investors. In addition to the conditions set forth in Section 7, the obligation of each Investor to
purchase the Unsubscribed Notes pursuant to the Backstop Commitment on the Effective Date is subject to the following conditions: 

(a) Plans and Disclosure Statements. The Plans, the Disclosure Documents, the Confirmation Order and the Sanction Order shall be
reasonably acceptable to the Majority Investors. The Company shall not have made any revision, supplement, 
  

 20 

 
modification or amendment to the Plans, the Disclosure Documents, the Confirmation Order or the Sanction Order (other than any revision, supplement, modification or amendment that is not
material) without the written consent of Majority Investors. 
 (b) Purchase Notice. Each Investor shall have received
from the Company a Purchase Notice in accordance with Section 1(f), dated as of the Determination Date, certifying as to the number of each Investor’s Unsubscribed Notes to be purchased pursuant to the Backstop Commitment.

 (c) Fees, Etc. All fees, expenses and other amounts required to be paid or reimbursed by the Company to or on behalf
of the Investors as of the Effective Date shall have been paid or reimbursed in full. 
 (d) Terms of Notes. The Notes
shall have the terms set forth in the Convertible Notes Term Sheet and such other terms not contained in the Convertible Notes Term Sheet and be otherwise in a form reasonably satisfactory to the Majority Investors. 

(e) Commencement of Rights Offering. Pursuant to the Plans, the Rights Offering shall have been commenced and be conducted in a
manner consistent with this Commitment Agreement and shall have been exempted from the registration requirements of the Securities Act pursuant to section 1145 of the Bankruptcy Code and shall be exempt from any prospectus requirement under
Canadian Securities Laws and the Expiration Time shall have occurred. This condition shall be deemed satisfied upon entry of a Confirmation Order by the U.S. Bankruptcy Court and entry of the Sanction Order by the Canadian Court consistent with the
terms of this Commitment Agreement, to the extent such relief is contained therein. 
 (f) Good Standing. The Investors
shall have received on and as of the Effective Date satisfactory evidence of the good standing of the Company and its Significant Subsidiaries (as such term is defined in Article 1, Rule 1-02 of Regulation S-X promulgated pursuant to the
Securities Act) in their respective jurisdictions of organization, in each case in writing or any standard form of telecommunication from the appropriate governmental authorities of such jurisdictions. 

(g) Section 16 Matters. The Company’s board of directors shall have approved, by resolution in a form agreed to by the
Investors, the issuance of the Notes pursuant to this Commitment Agreement, for the express purpose of affording the transactions contemplated hereby an exemption from the provisions of Section 16(b) under the Exchange Act in the event that any
Investor shall be alleged to be subject to Section 16(b) of the Exchange Act in respect of such acquisitions under Rule 16a-2(a) under the Exchange Act. 

(h) Representations and Warranties and Covenants. The representations and warranties of the Company in Section 3
(i) that are qualified as to materiality must be true and correct in all respects, and (ii) that are not so qualified as to materiality must be true and correct in all material respects, in each case as of the date hereof and as if made on

  

 21 

 
the Effective Date (other than those representations and warranties that address matters only as of a particular date or only with respect to a specific period of time, which need only be
accurate as of such date or with respect to such period) and the Company shall have complied in all material respects with all covenants in this Commitment Agreement and the Registration Rights Agreement. 

(i) Officers’ Certificate. The Investors shall have received on and as of the Escrow Date and on and as of the Effective Date
a certificate of the chief financial officer or chief accounting officer of the Company (i) confirming that the Company has satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Escrow Date or Effective
Date, as applicable, and (ii) to the effect set forth in Section 8(h) above. 
 (j) No Material Adverse
Change. Since the date of this Commitment Agreement, there has not occurred any event, fact or circumstance which has had or would reasonably be expected to have, individually, or in the aggregate, a Material Adverse Effect on the Company and
its Subsidiaries taken as a whole. 
 (k) Exit Financing. The Company, the U.S. Debtors and the CCAA Debtors shall have
consummated the Exit Financing Facilities on terms and conditions, and with documentation in form and substance which is, reasonably satisfactory to the Majority Investors. 

9. Conditions to the Obligations of the Company. 

(a) The obligations of the Company hereunder to commence the Rights Offering are subject to (i) entry of the Disclosure Statement
Order by the U.S. Bankruptcy Court and the Circular Order by the Canadian Court, in each case in form and substance satisfactory to the Company and (ii) this Commitment Agreement continuing to be in full force and effect. 

(b) The obligation of the Company to sell the Unsubscribed Notes on the Effective Date is subject to the following conditions:

 (i) Conditions to Confirmation. The conditions to confirmation and the conditions to the Effective Date of the Plans
shall have been satisfied or waived in accordance with the Plans, and the Effective Date shall have occurred. 
 (ii)
Representations and Warranties and Covenants. The representations and warranties of each Investor in Section 4 shall be true and correct in all material respects on the date hereof and as if made on the Effective Date, and each
Investor shall have complied in all material respects with all covenants to this Commitment Agreement. 
 10. Indemnification.

 (a) Subject to the entry of an order of the U.S. Bankruptcy Court approving this Commitment Agreement, whether or not Rights
Offering is consummated or this Commitment Agreement is terminated, the Company (in such capacity, the 
  

 22 

 
“Indemnifying Party”) shall indemnify and hold harmless each Investor that is not a Defaulting Investor, its respective Affiliates and its respective officers, directors,
employees, agents and controlling persons (each an “Indemnified Person”) from and against any and all losses, claims, damages, liabilities and reasonable expenses, joint or several, to which any such Indemnified Person may become
subject arising out of or in connection with any claim, challenge, litigation, investigation or proceeding with respect to the Rights Offering, the Backstop Commitment, the Transaction Documents, or the transactions contemplated thereby, including
without limitation, payment of the Backstop Payment, payment of the Termination Payment, payment of the Transaction Expenses, issuance of the Backstop Shares, distribution of Rights, purchase and sale of Notes in the Rights Offering and purchase and
sale of Notes pursuant to the Backstop Commitment, or any breach of the Company of this Commitment Agreement or the Registration Rights Agreement, regardless of whether any of such Indemnified Persons is a party thereto, and to reimburse such
Indemnified Persons for any reasonable and documented legal or other reasonable out-of-pocket expenses (including the costs of enforcing this Commitment Agreement) as they are incurred in connection with investigating, responding to or defending any
of the foregoing, provided, that the foregoing indemnification will not, as to any Indemnified Person, apply to losses, claims, damages, liabilities or expenses (i) to the extent that they have resulted from bad faith, gross negligence
or willful misconduct on the part of such Indemnified Person, or (ii) to the extent that they arise from, result from or are in connection with, an Investor’s assignment of any of its rights or obligations under this Commitment Agreement
to a third-party. If for any reason the foregoing indemnification is unavailable to any Indemnified Person or insufficient to hold it harmless, then the Indemnifying Party shall contribute to the amount paid or payable by such Indemnified Person as
a result of such loss, claim, damage, liability or expense in such proportion as is appropriate to reflect not only the relative benefits received by the Indemnifying Party on the one hand and such Indemnified Person on the other hand but also the
relative fault of the Indemnifying Party, on the one hand, and such Indemnified Person, on the other hand, as well as any relevant equitable considerations. It is hereby agreed that the relative benefits to the Indemnifying Party on the one hand and
all Indemnified Persons on the other hand shall be deemed to be in the same proportion as (i) the total value received or proposed to be received by the Company pursuant to the sale of Notes contemplated by this Commitment Agreement bears to
(ii) the payments made or proposed to be made (including the Backstop Payment and the Termination Payment) to the Investors in connection with such sale. Furthermore, the Company hereby agrees that it shall not seek indirect, consequential or
punitive damages as a result of any breach of the terms hereof. The indemnity, reimbursement and contribution obligations of the Indemnifying Party under this Section 10 shall be in addition to any liability that the Indemnifying Party
may otherwise have to an Indemnified Person and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnifying Party and any Indemnified Person. 

(b) Promptly after receipt by an Indemnified Person of notice of the commencement of any claim, litigation, investigation or proceeding
relating to the Transaction Documents or any of the transactions contemplated thereby (“Proceedings”), such Indemnified Person will, if a claim is to be made hereunder against the Indemnifying Party in respect thereof, notify the
Indemnifying Party in writing of the 
  

 23 

 
commencement thereof, provided, that (i) the omission so to notify the Indemnifying Party will not relieve it from any liability that it may have hereunder except to the extent it has
been materially prejudiced as a result of such failure and (ii) the omission so to notify the Indemnifying Party will not relieve it from any liability that it may have to an Indemnified Person otherwise than on account of this
Section 10. In case any such Proceedings are brought against any Indemnified Person and it notifies the Indemnifying Party of the commencement thereof, the Indemnifying Party will be entitled to participate therein, and, to the extent
that it may elect by written notice delivered to such Indemnified Person, to assume the defense thereof, with counsel reasonably satisfactory to such Indemnified Person, provided, that if the defendants in any such Proceedings include both
such Indemnified Person and the Indemnifying Party and such Indemnified Person shall have concluded that there may be legal defenses available to it that are inconsistent with those available to the Indemnifying Party, such Indemnified Person shall
have the right to select separate counsel to assert such legal defenses and to otherwise participate in the defense of such Proceedings on behalf of such Indemnified Person. Upon receipt of notice from the Indemnifying Party to such Indemnified
Person of its election so to assume the defense of such Proceedings and approval by such Indemnified Person of counsel, the Indemnifying Party shall not be liable to such Indemnified Person for expenses incurred by such Indemnified Person in
connection with the defense thereof (other than reasonable costs of investigation) unless (i) such Indemnified Person shall have employed separate counsel in connection with the assertion of legal defenses in accordance with the proviso to the
next preceding sentence (it being understood, however, that the Indemnifying Party shall not be liable for the expenses of more than one separate counsel and one local counsel, in each relevant jurisdiction, approved by the Majority Investors,
representing the Indemnified Persons who are parties to such Proceedings), (ii) the Indemnifying Party shall not have employed counsel reasonably satisfactory to such Indemnified Person to represent such Indemnified Person within a reasonable
time after notice of commencement of the Proceedings or (iii) the Indemnifying Party shall have authorized in writing the employment of counsel for such Indemnified Person. 

(c) The Indemnifying Party shall not be liable for any settlement of any Proceedings effected without its written consent (which consent
shall not be unreasonably withheld, conditioned or delayed). The Indemnifying Party shall not, without the prior written consent of an Indemnified Person (which consent shall not be unreasonably withheld), effect any settlement of any pending or
threatened Proceedings in respect of which indemnity has been sought hereunder by such Indemnified Person unless (i) such settlement includes an unconditional release of such Indemnified Person in form and substance satisfactory to such
Indemnified Person from all liability on the claims that are the subject matter of such Proceedings and (ii) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified
Person. 
 (d) Notwithstanding anything to the contrary in this Commitment Agreement, the Company shall not have any liability
for fees, expenses, indemnification claims or any other claim of any broker not listed in Section 4(i). 
  

 24 

 11. Survival of Representations and Warranties, Etc. Notwithstanding any investigation at any time
made by or on behalf of any party hereto, all representations and warranties made in this Commitment Agreement will survive the execution and delivery of this Commitment Agreement and the Effective Date. 

12. Termination. 
 (a)
This Commitment Agreement may be terminated by either the Majority Investors or the Company or as otherwise provided below at any time prior to the Effective Date upon the earliest of the following events: 

(i) by mutual consent of the Majority Investors and the Company; 

(ii) (A) the U.S. Bankruptcy Court shall not have entered an order approving the Termination Payment, the reimbursement of Transaction
Expenses and other relief requested by the Company, and the Canadian Court shall not have approved the Termination Payment, the reimbursement of Transaction Expenses and other relief requested by the Company, in each case, by June 25, 2010 and
(B) if and to the extent the motion for approval of the Termination Fee contains a motion for relief that is specific to any Investor, then such Investor shall have the individual right to terminate, without the consent of the Majority
Investors, should such relief not be approved by June 25, 2010; provided, that if any such Investor does so terminate pursuant to clause (B) above, then each other Investor may also elect to terminate, without the consent of the
Majority Investors; 
 (iii) the Company shall not have pursued an alternative transaction and the U.S. Bankruptcy Court or the
Canadian Court shall not have entered an order approving this Commitment Agreement by July 10, 2010; 
 (iv) by each
Investor acting individually, upon the Outside Date; 
 (v) Plan Support Agreements are terminated by the Company or Investors
whose Backstop Percentage is at least 50% in the aggregate, for any reason; and 
 (vi) the earliest of the date on which the
Company delivers a Satisfaction Notice or on which it publicly announces that it has obtained sufficient capital from alternative sources and does not require and/or will not seek to complete the Rights Offering. 

(b) This Commitment Agreement may be terminated by the Majority Investors by written notice to the Company if: 

(i) the Company breaches this Commitment Agreement in any material respect, or is in material breach of any of its representations and
warranties contained herein and in each case fails to cure such breach, if curable, within ten (10) days after notice of such breach is given to the Company by an Investor; 

 

 25 

 (ii) the Company files, supports or endorses a plan of reorganization or compromise other
than the Plans; 
 (iii) the Company withdraws the Plans or publicly announces its intention not to support the Plans;

 (iv) in accordance with the Bid Procedures, the Company elects to pursue a higher, better, or alternative transaction
approved by the U.S. Bankruptcy Court and the Canadian Court; 
 (v) if an order dismissing the Company’s chapter 11 case
or converting it to a case under chapter 7 of the Bankruptcy Code is entered by the U.S. Bankruptcy Court; 
 (vi) upon the
entry of an order by the U.S. Bankruptcy Court appointing an examiner with enlarged powers relating to the operation of the material part of the business of the Company, taken as a whole (powers beyond those set forth in section 1106(a)(3) and
(4) of the Bankruptcy Code) under section 1106(b) of the Bankruptcy Code; 
 (vii) the entry of an order by the U.S.
Bankruptcy Court appointing a trustee for the Company under section 1104 of the Bankruptcy Code; 
 (viii) the Company’s
CCAA case is converted into a bankruptcy case under applicable Canadian bankruptcy law; 
 (ix) a trustee, receiver, receiver
and manager or liquidator is appointed in respect of the Company under applicable Canadian law; 
 (x) upon the failure of any
of the conditions set forth in Section 7 or Section 8 hereof to be satisfied (which failure cannot be cured by the earlier of the Effective Date or the Outside Date), or the date on which any of the conditions set forth in
Section 7 or Section 8 becomes incapable of being satisfied; or 
 (xi) by July 29, 2010 the U.S.
Bankruptcy Court has not entered the Disclosure Statement Order or the Canadian Court has not issued the Circular Order. 
 (c)
This Commitment Agreement may be terminated by the Company: 
 (i) with respect to any particular Investor, if such Investor
fails to perform its obligations under this Commitment Agreement in any material respect or is in material breach of any of its representations and warranties contained herein and, in each case (other than a failure to pay the Purchase Price in
respect of such Investor’s Unsubscribed Notes), fails to cure such breach, if curable, within ten (10) days after notice of such breach is given to such Investor by the Company; 

(ii) the Company files, supports or endorses a plan or reorganization or compromise other than the Plans; 

 

 26 

 (iii) the Company withdraws the Plans or publicly announces its intention not to support the
Plans; 
 (iv) in accordance with the Bid Procedures, the Company elects to pursue a higher, better, or alternative transaction
approved by the U.S. Bankruptcy Court and the Canadian Court; or 
 (v) at any time, in its sole discretion, for any reason
other than set forth in clauses (c)(i) through (c)(iv) above. 
 (d) An Investor’s obligations hereunder may be terminated
by notice to the Company as provided in Section 13 if: 
 (i) prior to requisite court approval and execution of the
Plan Support Agreement, modifications are made to the Plans (or any exhibit, supplement, schedule or related or ancillary agreement thereto) which would otherwise give rise to a right of termination if the Plan Support Agreement were in full force
and effect; and 
 (ii) following U.S. Bankruptcy Court approval and execution of the Plan Support Agreement, if the
Investor’s Plan Support Agreement has been terminated or is then terminable, so long as the termination was not caused by the Investor’s breach of the Plan Support Agreement. 

(e) Upon any such expiration or termination of this Commitment Agreement, this Commitment Agreement shall become void and there shall be
no liability under this Commitment Agreement on the part of the Investors or the Company other than under Section 2(d), Section 2(e), Section 6(c), Section 6(d), Section 10 and Sections
12 through 23. 
 13. Notices. All notices and other communications in connection with this Commitment Agreement will be in
writing and will be deemed given (and will be deemed to have been duly given upon receipt) if delivered personally, sent via electronic facsimile or electronic mail (with confirmation), mailed by registered or certified mail (return receipt
requested) delivered by an express courier (with confirmation) to the parties at the following addresses (or at such other address for a party as will be specified by like notice): 

 

							
		  	(a)	  	 If to Investor, to:

			
		  		  	 at the addresses set forth on the signature pages hereto

			
		  		  	 with copies to:

			
		  		  	 Shearman & Sterling LLP

		  		  	 599 Lexington Avenue

		  		  	 New York, New York 10022

		  		  	 Attention:
	 	 Douglas Bartner

		  		  		 	Edmund M. Emrich
		  		  	Fax:	 	(212) 848-7179
		  		  	 Email:
	 	 dbartner@shearman.com

		  		  		 	 edmund.emrich@shearman.com

  

 27 

  

							
		  		  	Kramer Levin Naftalis & Frankel LLP
		  		  	1177 Avenue of the Americas
		  		  	New York, New York 10036
		  		  	Attention:	 	John Bessonette
		  		  		 	Douglas H. Mannal
		  		  	Fax:	 	(212) 715-8000
		  		  	Email:	 	jbessonette@kramerlevin.com
		  		  		 	dmannal@kramerlevin.com
			
		  		  	Kleinberg, Kaplan, Wolff & Cohen, P.C.
		  		  	551 Fifth Avenue, 18th Floor
		  		  	New York, New York 10176
		  		  	Attention:	 	Philip S. Gross, Esq.
		  		  		 	Christopher P. Davis, Esq.
		  		  	Fax:	 	(212) 986-8866
		  		  	Email:	 	pgross@kkwc.com
		  		  		 	cdavis@kkwc.com
			
		  	(b)	  	If to the Company, to:
			
		  		  	AbitibiBowater Inc.
		  		  	1155 Metcalfe Street, Suite 800
		  		  	Montreal, Quebec
		  		  	Canada H3B5H2
		  		  	Attention:	 	William G. Harvey, Chief Financial Officer
		  		  		 	Jacques P. Vachon, Chief Legal Officer
		  		  	Fax :	 	(864) 282-9219 and (514) 394-3644
			
		  		  	with a copy to:
			
		  		  	Paul, Weiss, Rifkind, Wharton & Garrison LLP
		  		  	1285 Avenue of the Americas
		  		  	New York, New York 10019-6064
		  		  	Attention:	 	Kelley A. Cornish
		  		  		 	Alice Belisle Eaton
		  		  	Fax:	 	(212) 492-0493
				
		  		  		 	– and –
			
		  		  	Stikeman Elliott LLP
		  		  	1155, boul. René-Lévesque Ouest, 40e étage
		  		  	Montréal, QC H3B 3V2
		  		  	Attention:	 	Marc Barbeau
		  		  		 	Sean Dunphy
		  		  	Facsimile:	 	(514) 397-3222

  

 28 

 14. Assignment: Third Party Beneficiaries. Neither this Commitment Agreement nor any of the rights,
interests or obligations under this Commitment Agreement will be assigned by any of the parties (whether by operation of law or otherwise) without the prior written consent of the other parties; provided, however, that this Commitment
Agreement, or any Investor’s rights and obligations hereunder, may be assigned, delegated or transferred, in whole or in part, including by way of participation, by an Investor to (a) any entity or person over which such Investor or any of
its Affiliates exercises investment authority, including, without limitation, with respect to voting and dispositive rights or (b) any person or entity reasonably acceptable to the Company; provided, further, that any such
assignee assumes the obligations of the Investor hereunder and agrees in writing to be bound by the terms of this Commitment Agreement in the same manner as the Investor. Notwithstanding the foregoing or any other provisions herein, no such
assignment will relieve any Investor of its obligations hereunder if such assignee fails to perform such obligations. For the avoidance of doubt, this Section 14 shall not be read to restrict in any manner any Investor’s ability to
transfer any Claims. Except as provided in Section 10 with respect to the Indemnified Parties, this Commitment Agreement (including the documents and instruments referred to in this Commitment Agreement) is not intended to and does not
confer upon any person other than the parties hereto any rights or remedies under this Commitment Agreement. 
 15. Prior Negotiations;
Entire Commitment Agreement. This Commitment Agreement (including the agreements attached as exhibits to and the documents and instruments referred to in this Commitment Agreement) constitutes the entire agreement of the parties and supersedes
all prior agreements, arrangements or understandings, whether written or oral, between the parties with respect to the subject matter of this Commitment Agreement. 

16. GOVERNING LAW; VENUE. THIS COMMITMENT AGREEMENT, AND ALL CLAIMS ARISING OUT OF OR RELATING HERETO, WILL BE GOVERNED AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE AND WITH APPLICABLE CANADIAN AND UNITED STATES BANKRUPTCY LAW. BY ITS EXECUTION AND DELIVERY OF THIS COMMITMENT AGREEMENT, EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES FOR ITSELF THAT ANY LEGAL ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTER UNDER OR ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT RENDERED IN ANY SUCH ACTION, SUIT OR PROCEEDING, SHALL BE BROUGHT EXCLUSIVELY IN THE U.S. BANKRUPTCY COURT. 
 17. Counterparts.
This Commitment Agreement may be executed in any number of counterparts, all of which will be considered one and the same agreement and will 

 

 29 

 
become effective when counterparts have been signed by each of the parties and delivered to the other party (including via facsimile or other electronic transmission), it being understood that
each party need not sign the same counterpart. 
 18. Waivers and Amendments. Except as set forth in the provisos below and subject, to
the extent required, to the approval of the U.S. Bankruptcy Court and the Canadian Court, this Commitment Agreement (including the exhibits and schedules hereto) may be amended, modified, supplemented, superseded, cancelled, renewed or extended, and
the terms and conditions of this Commitment Agreement may be waived, only by a written instrument signed by the Company and the Majority Investors or, in the case of a waiver, by the party waiving compliance; provided, however, the
following terms of this Commitment Agreement may be amended, modified, supplemented, or waived only by a written instrument signed by the Company and the Supermajority Investors: (x) the amount or scheduled date of payment of, or events giving
rise to, the Upfront Payment, the Backstop Payment and the Termination Payment and (y) the terms of the Notes set forth in the Convertible Notes Term Sheet; provided, further, however, without the written consent of each
Investor affected thereby, no such waiver, amendment, supplement or modification of this Commitment Agreement shall (A) extend the Outside Date beyond December 31, 2010, (B) change an Investor’s Backstop Percentage or percentage
allocation set forth on Schedule 1(h) hereto (other than changes expressly contemplated by this Commitment Agreement), (C) amend, supplement or modify the Form of Plan Support Agreement attached hereto or requirements hereunder relating
thereto, (D) disproportionately affect any Investor in a material and adverse manner in relation to the other Investors or (E) amend, supplement or modify this Section 18. No delay on the part of any party in exercising any
right, power or privilege pursuant to this Commitment Agreement will operate as a waiver thereof, nor will any waiver on the part of any party of any right, power or privilege pursuant to this Commitment Agreement, nor will any single or partial
exercise of any right, power or privilege pursuant to this Commitment Agreement, preclude any other or further exercise thereof or the exercise of any other right, power or privilege pursuant to this Commitment Agreement. The rights and remedies
provided pursuant to this Commitment Agreement are cumulative and are not exclusive of any rights or remedies which any party otherwise may have at law or in equity. 

19. Modifications Necessary to Reflect Corporate Restructuring. The Plans currently contemplate that, on the Effective Date, the Company intends
to effect one or more corporate reorganization and related restructuring transactions and take any actions as necessary or appropriate to simplify its corporate structure and to effect a restructuring of their respective businesses, which may result
in the creation of Holdco. The parties hereto shall in good faith make appropriate modifications to this Commitment Agreement and the Registration Rights Agreement to accommodate the Holdco structure, so long as such modifications do not have a
material adverse impact on the Investors. 
 20. Headings. The headings in this Commitment Agreement are for reference purposes only and
will not in any way affect the meaning or interpretation of this Commitment Agreement. 
  

 30 

 21. Specific Performance. The parties acknowledge and agree that any breach of the terms of this
Commitment Agreement would give rise to irreparable harm for which money damages would not be an adequate remedy, and, accordingly, the parties agree that, in addition to any other remedies, each will be entitled to enforce the terms of this
Commitment Agreement by a decree of specific performance without the necessity of proving the inadequacy of money damages as a remedy and without the necessity of posting bond. 

22. Currency; Dates. Unless otherwise specifically indicated, all references to dollars or “$” shall be references to U.S. dollars. Any
reference herein to a specific date that falls on a day that is not a Business Day shall be deemed to be, or occur on, the next Business Day after such date. 

23. Acknowledgements and Agreements of the Company. Notwithstanding anything herein to the contrary, the Company acknowledges and agrees that
(a) the transactions contemplated hereby are arm’s-length commercial transactions between the Company, on the one hand, and the Investors, on the other, (b) in connection therewith and with the processes leading to such transactions,
each Investor is acting solely as a principal and not the agent or fiduciary of the Company or the U.S. Debtors or the Canadian Debtors or their estates, (c) the Investors have not assumed advisory or fiduciary responsibilities in favor of the
Company or the U.S. Debtors or the Canadian Debtors or their estates with respect to such transactions or the processes leading thereto and (d) the Company, the U.S. Debtors and the Canadian Debtors have consulted their own legal and financial
advisors to the extent they deemed appropriate. 
 24. Defaulting Investor. If any Investor defaults on its obligation to purchase the
Unsubscribed Notes that it has agreed to purchase hereunder (such Investor, a “Defaulting Investor”), the non-Defaulting Investors may in their discretion arrange for the purchase of such Notes by other persons (including such
non-Defaulting Investors on a pro rata basis) on the terms contained in this Commitment Agreement. As used in this Commitment Agreement, the term “Investor” includes, for all purposes of this Commitment Agreement unless the context
otherwise requires, any person not listed in Schedule 1(h) hereto that, pursuant to this Section 24, purchases the Unsubscribed Notes that a Defaulting Investor agreed, but failed, to purchase. Nothing contained herein shall
relieve a Defaulting Investor of any liability it may have to the Company or any non-Defaulting Investor for damages caused by its default. 

25. Effectiveness. The effectiveness of this Commitment Agreement and its enforceability against any party hereto is conditioned upon the entry of
an order by the U.S. Bankruptcy Court and the Canadian Court approving the Termination Payment and Transaction Expenses in form and substance reasonably acceptable to the Majority Investors; provided, however, if such order contains
any modifications to the material economic terms set forth herein, such modifications must be approved by Supermajority Investors before this Commitment Agreement is enforceable against the Investors. 

 

 31 

 26. Commitment Agreement Controls. In the event of any inconsistency between this Commitment
Agreement, the Plans and the Disclosure Documents, this Commitment Agreement shall control. 
 27. Definitions. 

(a) “Amount” means the lesser of (a) $500,000,000 and (b) the sum of (i) $325,000,000 plus
(ii) $1,400,000,000, less the sum of (x) the Company’s Available Cash as of the Effective Date plus (y) the aggregate principal amount of loans outstanding under the term indebtedness outstanding under the Exit Financing
Facilities or other available facilities at such time, less (in each case of (a) and (b)) the amount of Liquidity at the Effective Date in excess of $600,000,000. 

(b) “Applicable Law” means (x) any applicable constitutions, treaties, statutes, laws (including the common law),
rules, regulations, ordinances, codes or orders of any Governmental Entity or (y) any applicable orders, decisions, injunctions, judgments, awards and decrees of any Governmental Entity. 

(c) “Available Cash” means all unrestricted cash and cash equivalents of the Company on a consolidated basis immediately
prior to consummation of transactions contemplated hereby, but excluding all cash held by non-wholly-owned entities and by Bowater-Korea Limited. 

(d) “Backstop Shares” means the Common Shares comprising each Investor’s portion of the Backstop Payment.

 (e) “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq.,
as amended from time to time. 
 (f) “Business Day” means any day other than a Saturday, Sunday, “legal
holiday” as such term is defined in Rule 9006(a) of the U.S. Federal Rules of Bankruptcy Procedure or non-judicial day as such term is defined in Article 6 of the Quebec Code of Civil Procedure. 

(g) “Canadian Orders” means, collectively, (i) any order entered by the Canadian Court in respect of the
Termination Payment and the reimbursement of Transaction Expenses, (ii) any order entered by the Canadian Court in respect of this Commitment Agreement, (iii) the Circular Order and (iv) the Sanction Order. 

(h) “Commission” means the U.S. Securities and Exchange Commission. 

(i) “Conversion Shares” means the Common Shares issuable upon conversion of the Notes. 

(j) “Enforceability Exceptions” means bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or
fraudulent conveyance and similar laws relating to or affecting creditors generally or by general equity principles, including without limitation, concepts of materiality, reasonableness, good faith and fair dealing

  

 32 

 
(regardless of whether considered in a proceeding in equity or at law) and except as rights to indemnity may be limited by applicable U.S. and Canadian federal or national and state, provincial
or territorial securities laws and principles of public policy. 
 (k) “Escrow Date” means three
(3) Business Days prior to the date reasonably anticipated by the Company to be the Effective Date, which shall be five (5) or more days after the Determination Date. 

(l) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(m) “Governmental Entity” means any court, administrative agency or commission or other governmental authority or
instrumentality, domestic or foreign. 
 (n) “Holdco” means a new holding company that may be created by the
Company to serve as the parent corporation and holding company subsidiaries of the Company incorporated either under the laws of the United States or Canada, as determined by the Company in its sole discretion. 

(o) “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 

(p) “Indenture” means the indenture related to the Notes. 

(q) “Investment Company Act” means the Investment Company Act of 1940, as amended. 

(r) “Liquidity” as of any time, means the sum of (i) Available Cash, plus (ii) all amounts available to be
drawn (excluding the amount of any letters of credit expected to be incurred in connection with the Effective Date as contemplated by the Plans) under the Exit Financing Facilities or other available facilities at such time, plus (iii) at the
Company’s written election, up to the amount of expected net proceeds from asset sales not yet closed at such time but subject to one or more executed agreements for the sale, transfer or other disposition of such assets. 

(s) “Majority Investors” means Investors representing in the aggregate 50% or more of the Backstop Commitment at such
time. 
 (t) “Material Adverse Effect” means any change, effect, event, occurrence or development which,
individually or in the aggregate, (i) is or would reasonably be expected to be materially adverse to the business, assets, financial condition, liabilities or results of operations of the Company and its Subsidiaries taken as a whole;
provided, that none of the following shall be deemed, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether something has had or would reasonably be expected to have a
Material Adverse Effect: (a) any change, effect, event, occurrence or development in the financial, securities or capital markets, political or regulatory conditions, or the economy or business conditions in general; (b) any change,
effect, event, occurrence or development in the industries in which the Company or any of its Subsidiaries operates in general; (c) any change, effect, occurrence 

 

 33 

 
or development resulting from or relating to the negotiation, execution, delivery, public announcement or existence of, performance of obligations under, or compliance with, this Commitment
Agreement or the transactions contemplated hereby, the Rights Offering, the Plans or the Plan Support Agreement; (d) any change in the demand or pricing for paper, pulp or wood products; (e) any change, effect, event, occurrence or
development in the currency markets or currency fluctuations generally, including, without limitation, any change in the exchange rate between the Canadian and U.S. dollars; (f) any change, effect, event, occurrence or development resulting
from or relating to any change in the market price of crude oil, natural gas or related hydrocarbons or other sources of energy or the market prices of other raw materials used by the Company or any of its Subsidiaries; (g) force majeure
events; (h) changes in interest rates; (i) any loss of a material customer, supplier, employee or executive; (j) any changes in any law after the date hereof or the interpretation or enforcement thereof; (k) any act of war, armed
hostilities or terrorism; (l) any changes in generally accepted accounting principles in the United States or Canada or accounting principles or the interpretation or enforcement thereof; (m) any failure, in and of itself, of the Company
or any of its Subsidiaries to meet, with respect to any period or periods, any internal or industry analyst projections, forecasts, estimates of earnings or revenues, or business plans (it being understood and agreed that the facts and circumstances
giving rise to or contributing to such failure may by taken into account in determining whether a Material Adverse Effect has occurred); (n) any effect resulting from any act or omission of the Company taken with the prior written consent of
the Majority Investors; or (o) any effect resulting from the filing of the cases with the Courts; provided, further, that, with respect to clauses (a), (b), (d), (e) and (f) such change, effect, event, occurrence or
development does not disproportionately impact the Company compared to other companies operating in the principal industries and geographic areas in which the Company and its Subsidiaries operate; or (ii) is or would reasonably be expected to
impair in any material respect the ability of the Company to consummate the transactions contemplated by, or to perform its obligations under, this Commitment Agreement or the Plans. 

(u) “Monitor” means Ernst & Young Inc. or any successor thereto appointed in accordance with any order of the
Canadian Court. 
 (v) “Necessary Bankruptcy Process” means, collectively, entry of the U.S. Court Orders,
entry of the Canadian Orders and the expiration, or waiver by Courts of, the applicable Stay Periods. 
 (w) “Outside
Date” means the date that is later to occur of (i) October 15, 2010 and (ii) the date that is the earlier to occur of (x) December 31, 2010 and (y) the latest date on which any of the Company’s commitments
for Exit Financing Facilities are scheduled to expire, so long as the Company’s commitments for the Exit Financing Facilities are in form and substance reasonably acceptable to Majority Investors. 

(x) “Securities” means the Notes, the Conversion Shares and the Backstop Shares. 

(y) “Securities Act” means the Securities Act of 1933, as amended. 

 

 34 

 (z) “Stay Period” means each of (i) the 14-day period set forth in
Rules 6004(h) and 3020(e) of the U.S. Federal Rules of Bankruptcy Procedure in respect of each of the U.S. Court Orders and (ii) the period for seeking leave to appeal in respect of each of the Canadian Orders. 

(aa) “Subscription Agent” means EPIQ Bankruptcy Services, LLC. 

(bb) “Subsidiary” means as to any person, a corporation, partnership, limited liability company or other entity of which
shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other
managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such person. 

(cc) “Supermajority Investors” means Investors representing in the aggregate 66 2/3% or more of the Backstop Commitment
at such time. 
 (dd) “Transaction Documents” means, collectively, this Commitment Agreement, the Notes, the
Indenture and the Registration Rights Agreement. 
 (ee) “U.S. Court Orders” means, collectively, (i) the
order entered by the U.S. Bankruptcy Court approving the Termination Payment and the reimbursement of Transaction Expenses, (ii) the order entered by the U.S. Bankruptcy Court approving this Commitment Agreement, (iii) the Disclosure
Statement Order and (iv) the Confirmation Order. 
  

 35 

 (ff) Other Defined Terms: 

 

			
	 Term
	  	Section
	1145 Cutback	  	1(l)
	Affected Unsecured Claims	  	CCAA Plan
	Approval Date	  	2(d)(i)
	Backstop Agreement Motion	  	5(a)(i)
	Backstop Commitment	  	2(a)
	Backstop Payment	  	2(c)
	Backstop Percentage	  	1(h)
	Bid Procedures	  	Preamble
	Bowater DIP Agreement	  	2(d)(iv)
	Canadian Circular	  	Preamble
	Canadian Commissions	  	3(g)
	Canadian Court	  	Preamble
	Canadian Securities Laws	  	3(g)
	CCAA	  	Preamble
	CCAA Debtors	  	U.S. Plan
	CCAA Plan	  	Preamble
	Circular Order	  	1(a)
	Claim	  	Plans
	Claims Officer	  	CCAA Plan
	Class 6 Claims	  	U.S. Plan
	Commitment Agreement	  	Preamble
	Common Shares	  	Preamble
	Company	  	Preamble
	Confirmation Order	  	U.S. Plan
	Conversion Price	  	Preamble
	Convertible Notes Term Sheet	  	Preamble
	Courts	  	Preamble
	Credit Trading Group	  	6(e)
	Defaulting Investor	  	24
	Determination Date	  	1(f)
	Disclosure Documents	  	Preamble
	Disclosure Document Orders	  	1(a)
	Disclosure Statement Date	  	1(a)
	Disclosure Statement Order	  	1(a)
	Effective Date	  	U.S. Plan
	Eligible Claims	  	Preamble
	Eligible Holder	  	Preamble
	Escrow Agent	  	1(d)(i)

			
	 Term
	  	Section
	Exchange Act Documents	  	3(g)
	Exit Financing Facilities	  	U.S. Plan
	Expiration Time	  	1(c)
	Indemnified Person	  	10(a)
	Indemnifying Party	  	10(a)
	Initial Rights Ratio	  	1(b)
	Investor(s)	  	Preamble
	Investor’s Commitment Notes	  	1(h)
	Investor’s Unsubscribed Notes	  	2(a)
	Note Issuance	  	Preamble
	Notes	  	Preamble
	Plan Support Agreement	  	5(h)
	Plans	  	Preamble
	Proceedings	  	10(b)
	Purchase Notice	  	1(f)
	Purchase Price	  	1(b)
	Reduction Notice	  	1(e)
	Registration Rights Agreement	  	5(e)
	Relevant Claims	  	6(e)
	Right	  	Preamble
	Rights Entitlement Reduction	  	1(d)(ii)
	Rights Exercised	  	1(e)
	Rights Exercise Form	  	1(a)
	Rights Offering	  	Preamble
	Rights Offering Record Date	  	1(b)
	Sanction Order	  	CCAA Plan
	Satisfaction Notice	  	1(f)
	Solicitation Motion	  	Preamble
	Subsequent Eligible Holder	  	1(d)(ii)
	Subsequent Rights Expiry Time	  	1(d)(ii)
	Supplement Filing Date	  	U.S. Plan
	Termination Payment	  	2(d)
	Transaction Expenses	  	2(e)
	Upfront Payment	  	1(b)
	Unsubscribed Notes	  	Preamble
	U.S. Bankruptcy Court	  	Preamble
	U.S. Debtors	  	Preamble
	U.S. Disclosure Statement	  	Preamble
	U.S. Plan	  	Preamble
	Voting Deadline	  	U.S. Plan

 [Signature Page Follows] 

 

 36 

 If the foregoing is in accordance with your understanding, please sign and return to us a
counterpart hereof, and upon the acceptance hereof by you, this letter and such acceptance hereof will constitute a binding agreement between us and, subject to the approval of the U.S. Bankruptcy Court and the Monitor or the Canadian Court, as the
case may be, the Company. 
  

									
		 		 		 	Very truly yours,
			
	 FAIRFAX FINANCIAL HOLDINGS LIMITED 
  
	 		 	AVENUE CAPITAL MANAGEMENT II, L.P. Solely in its capacity as investment adviser to Avenue Investments, L.P., Avenue Interantional Master, L.P., Avenue
Special Situations Fund V, L.P. and Avenue CDP-Global Opportunities Fund, L.P.
	By:	 	 /s/ Paul Rivett
	 		 
	Name:	 	Paul Rivett	 		 
	Title:	 	Vice President and Chief Legal Officer	 		 
	Address:	 	95 Wellington Street West, Suite 800 Toronto, Ontario, M5J 2N7, Canada	 		 
		 		 		 	By:	 	 /s/ Sonia Gardner

		 		 		 	Name:	 	Sonia Gardner
		 		 		 	Title:	 	General Partner
		 		 		 	Address:	 	 535 Madison Avenue
 NY, NY
10022

			
	PAULSON CREDIT OPPORTUNITIES MASTER LTD.	 		 	BARCLAYS BANK PLC 
					
		 		 		 	By:	 	 /s/ Dan Crowley

	By:	 	 /s/ Michael Waldorf
	 		 	Name:	 	Dan Crowley
	Name:	 	Michael Waldorf	 		 	Title:	 	Managing Director
	Title:	 	Authorized Signatory	 		 	Address:	 	745 Seventh Avenue,
	Address:	 		 		 		 	New York, NY 10019
			
	 STEELHEAD NAVIGATOR MASTER, L.P. 

By its Investment Manager, Steelhead Partners, LLC
	 		 	J.P. MORGAN SECURITIES INC.*, with respect to the Credit Trading group 
				
		 		 	By:	 	 /s/ Daniel Shatz

	By:	 	 /s/ J. Michael Johnston
	 		 	Name:	 	Daniel Shatz
	Name:	 	J. Michael Johnston	 		 	Title:	 	Vice President
	Title:	 	Member	 		 	Address:	 	383 Madison Avenue
	Address:	 	1301
1st Avenue, Suite 201, Seattle, WA 98101	 		 		 	New York, NY 10179
				
	WHITEBOX ADVISORS, LLC	 		 		 	
					
	By:	 	 /s/ Mark Strefling
	 		 		 	
	Name:	 	Mark Strefling	 		 		 	
	Title:	 	CLO	 		 		 	
	Address:	 	 3033 Excelsior Blvd., STE 300

Minneapolis, MN 55416
	 		 		 	

 Acknowledged and agreed 

as of the date first set forth above: 
  

			
	ABITIBIBOWATER INC.
		
	By:	 	 /s/ William G. Harvey

	Name:	 	William G. Harvey
	Title:	 	Executive Vice President and Chief Financial Offier

  

	*	Addendum to Backstop Commitment Agreement. 

Notwithstanding anything to the contrary in this Backstop Commitment Agreement, this Agreement applies only to the Credit Trading group of J.P. Morgan
Securities, Inc. (the “Credit Trading Group”) and its holdings of and position in the Claims, including Eligible Claims. Accordingly, the term “Investor” and “We” or “we” for all purposes of this Agreement
mean and refer to only to the Credit Trading Group. For the avoidance of doubt, this Agreement does not apply to (i) any Claims, including Eligible Claims, securities, loans, other obligations or any other interest in the U.S. Debtors or the
CCAA Debtor that may be held, acquired or sold by, or any activities, services or businesses conducted or provided by, any other group or business unit within, or affiliate of, J.P. Morgan Securities Inc., (ii) any credit facilities to which
J.P. Morgan Securities Inc. or any of its affiliates (“Morgan”) is a party in effect as of the date hereof, (iii) any new credit facility, amendment to an existing credit facility, or debt or other equity securities offering involving
Morgan, (iv) any direct or indirect principal activities undertaken by any Morgan entity engaged in the venture capital, private equity or mezzanine businesses, or portfolio companies in which they have investments, (v) any ordinary course
sales and trading activity or businesses engaged in providing private banking or investment management services or (vii) any Claims, including Eligible Claims or related claims that may be beneficially owned by non-affiliated clients of J.P.
Morgan Securities Inc. or any of its affiliates. 
  

 Schedule 1(h) to Backstop Commitment Agreement 

 

							
	 Investor Name
	  	Backstop Percentage
Percentage 
allocation of Unsubscribed Notes,
Backstop Payment and Termination Payment	 	 	Maximum Backstop
Commitment

	 Fairfax Financial Holdings Limited
	  	22.00	% 	 	$	110,000,000
	 Avenue Capital Management II, L.P.
	  	22.00	% 	 	$	110,000,000
	 Paulson Credit Opportunities Master Ltd.
	  	22.00	% 	 	$	110,000,000
	 Barclays Bank plc
	  	20.00	% 	 	$	100,000,000
	 Steelhead Navigator Master, L.P.
	  	6.00	% 	 	$	30,000,000
	 J.P. Morgan Securities Inc.
	  	4.00	% 	 	$	20,000,000
	 Whitebox Advisors, LLC
	  	4.00	% 	 	$	20,000,000

 Exhibit A 

U.S. Plan 

(See Exhibit 99.1 to the current report on Form 8-K dated May 28, 2010) 

 Exhibit B 

CCAA Plan 

(See Exhibit 99.2 to the current report on Form 8-K dated May 28, 2010) 

 EXHIBIT C TO 

BACKSTOP COMMITMENT AGREEMENT 

ABITIBIBOWATER INC. 

TERM SHEET FOR NEW CONVERTIBLE NOTES 

All terms used and not defined herein shall have the meanings ascribed to them in the Backstop Commitment Agreement. In the event of any inconsistency
between this Exhibit C and the Backstop Commitment Agreement, the Backstop Commitment Agreement shall control. 
 Terms of New
Notes 
  

			
	 Issuer:
	  	AbitibiBowater Inc., a holding company incorporated under the laws of the United States or Canada, as formed or reorganized pursuant to the Plans (the
“Company”).
		
	 Form of Offering:
	  	The Debtors will issue rights to purchase new notes (the “New Notes”) of the Company (the “Rights”) to Eligible Holders of Eligible Claims
against the Debtors in connection with the Plans (the “Rights Offering”). The Rights Offering terms are described in the Backstop Commitment Agreement.
		
	 Issue Amount:
	  	 New Notes (which collectively shall consist of §1145 Notes and Backstop Notes (each as hereinafter defined)) to be issued in an
amount (the “Amount”) not to exceed the lesser of:
 A) US$500 million; and

B) the sum of:

(i)     US$325 million; and

(ii)    US$1,400 million less the sum of the Available Cash (as defined below) of the Company
as of the Effective Date and aggregate principal amount of term indebtedness outstanding under the Exit Financing Facilities (as described in the Plans) and any other available facilities at such time.

 
 The Amount is subject to further reduction by the amount of Liquidity (as defined
below) of the Company at the Effective Date in excess of $600 million. Any such reduction will be made as provided by the Backstop Commitment Agreement. Available Cash and Liquidity shall have the meaning set forth in the Backstop Commitment
Agreement.

		
	 Purchase Price:
	  	100% of the principal amount.

  

			
	 Upfront Payment:
	  	The Company will pay to each Eligible Holder that subscribes to Rights to purchase New Notes an amount equal to 4% of the aggregate principal amount of such New Notes on the
Effective Date, upon issuance of the New Notes.
		
	 Coupon:
	  	 10%, payable semi-annually in arrears commencing on the date that is six months after the Closing Date, computed on the basis of a
360-day year composed of twelve 30-day months.
  
 Subject to any required
regulatory approval and provided no event of default has occurred and is continuing, with respect to any interest period, the Company shall have the option to pay half (i.e., 5%) of such interest by issuing additional New Notes (“PIK
Notes”), provided that if the Company so elects to pay half of the coupon in PIK Notes, the portion of the coupon so payable with respect to such interest period shall be 6% rather than the 5% that would have been payable by the
Company had it paid in cash.

		
	 Use of Proceeds:
	  	The proceeds from the issuance and sale of the New Notes shall be used to fund the Debtors’ cash needs in connection with consummation of the Plans.
		
	 Closing Date:
	  	The date of the consummation of the Plans in form and substance reasonably acceptable to the Investors and consistent with the Backstop Commitment Agreement, and this New Notes
Term Sheet (the “Closing”), which date shall be the later to occur of (A) October 15, 2010 and (B) the date that is the earlier to occur of (x) December 31, 2010 and (y) the latest date on which any of the Company’s commitments
for Exit Financing Facilities are scheduled to expire so long as the Company’s commitments for the Exit Financing Facilities are acceptable to Majority Investors (as defined in the Backstop Commitment Agreement).
		
	 Investors:
	  	 The Company shall offer New Notes to the Eligible Holders (such New Notes being collectively referred to as the “§1145
Notes”), with each of the Eligible Holders entitled to purchase the New Notes (such purchasing Eligible Holders, collectively, the “New Notes Investors”) on the terms set forth in the Backstop Commitment
Agreement.
  
 The Investors shall enter into agreement(s) to subscribe, in
accordance with Schedule 1(h) to the Backstop Commitment Agreement, for any portion of the New Notes not subscribed for by the Eligible Holders (the “Backstop Notes”). As consideration for their commitment to subscribe for
such Backstop Notes, the Investors shall be entitled to receive the payments as set forth in, and in accordance with the terms of, the Backstop Commitment Agreement.

		
	 Exemptions /Transfer:
	  	The issuance of Rights to the creditors and the exercise of the Rights are intended to be exempt from registration under the Securities Act pursuant to Section 1145 of the
Bankruptcy Code and exempt from any prospectus requirement under corresponding Canadian securities laws exemptions.

  

 2 

			
		  	 The amount of New Rights that each Eligible Holder may subscribe for in the Rights Offering may be decreased by the Issuer to the
extent required to allow the Rights Offering to be exempt from registration under the Securities Act pursuant to Section 1145 of the Bankruptcy Code.
  

After the consummation of the Rights Offering, subject to applicable securities laws, the New Notes Investors and their respective permitted transferees
shall have the right to transfer freely the §1145 Notes or the Common Shares received upon conversion of the §1145 Notes at any time.
  

The issuance of Backstop Notes to the Investors pursuant to the Backstop Commitment Agreement is intended to be exempt from Securities Act registration
under Section 4(2) of the Securities Act and exempt from any prospectus requirement under Canadian securities laws. After consummation of the Rights Offering, the Backstop Notes may not be offered or sold except pursuant to an exemption from the
registration requirements of the Securities Act or any applicable state laws or pursuant to a registration statement.

		
	 Denomination:
	  	New Notes shall be issued in a minimum denomination of US$1.00 per New Note (and integral multiples thereof).
		
	 Conversion Price:
	  	 The New Notes shall be convertible as described below into the common stock, par value $0.001 per share, of the Company (the
“Common Shares”) at the Conversion Price.
  
 The
“Conversion Price” shall equal (x) $1,800 million (plus any consideration to be received upon issuance of Common Shares outstanding on a fully-diluted basis on the Effective Date after giving effect to the consummation of the Plans,
other than Common Shares issuable upon conversion of the New Notes and any Common Shares issued as part of the backstop payment described below) divided by (y) the number of Common Shares outstanding on a fully diluted basis on the Effective Date
after giving effect to the consummation of the Plans, other than Common Shares issuable upon conversion of the New Notes and any Common Shares issued as part of the backstop payment described below, the issuance of which would be anti-dilutive as of
the Effective Date.

		
	 Maturity Date:
	  	The New Notes will mature seven (7) years from the date of Closing (the “Issue Date”).
		
	 Guarantees:
	  	The New Notes will be guaranteed by the wholly-owned U.S. subsidiaries of the Company (the “Guarantees”).

 

 3 

			
	 Ranking:
	  	The New Notes and the Guarantees shall be subordinated in right of payment to the Company’s and the Guarantors’ obligations under the Company’s Exit Financing
Facilities, which may include unsecured financings (or replacements or refinancings thereof), and any other unsecured or secured senior debt in an amount not to exceed $200 million in the aggregate. Except as provided in the preceding sentence, the
New Notes and the Guarantees shall be pari passu in right of payment with all senior unsecured obligations of the Company or the relevant Guarantor.
		
	 Conversion Rights:
	  	 The New Notes will be convertible at the option of the holder (i) in the event of a redemption at the option of the Company, and
otherwise, (ii) after the 6-month period following the Issue Date, and in each case, prior to the close of business on the earlier of the Maturity Date and the last business day immediately preceding any date fixed for redemption, into a number of
Common Shares based on the Conversion Price, as adjusted from time to time. Holders of the Backstop Notes will receive restricted Common Shares under U.S. securities laws upon conversion of the Backstop Notes and will not be able to convert unless
they are eligible to receive the Common Shares in accordance with applicable law.
  

Upon conversion, holders of New Notes will receive a separate payment for accrued and unpaid interest to, but excluding, the date of conversion, except as
described below.
  
 If New Notes are converted after a regular record date
for the payment of interest, holders of record of such New Notes will receive all of the interest payable on such New Notes on the corresponding interest payment date notwithstanding the conversion. New Notes, upon surrender for conversion during
the period beginning after any record date to the immediately following interest payment date, must be accompanied by funds equal to the amount of interest that would accrue from the date of conversion to, but excluding, the interest payment date,
unless (i) such New Notes have been called for redemption by the Company or (ii) such interest payment date is the maturity date of the New Notes.

		
	 Conversion Adjustments:
	  	 The indenture will provide for the adjustment of the Conversion Price in certain events including, without limitation,

 
 (i) the subdivision or consolidation of the outstanding Common Shares;

 
 (ii) the issue of Common Shares or securities convertible into Common Shares by way
of stock dividend or other distribution;
  
 (iii) the issue of rights,
options or warrants with an exercise period of less than 60 days to all of the holders of Common Shares entitling them to acquire Common Shares or other securities convertible into Common Shares at less than 95% of the then market price;

 
 (iv) the distribution to all holders of Common Shares of any other securities or
assets (including through a spin-off);

  

 4 

			
		  	 (v) the payment to all holders of Common Shares in respect of an issuer tender offer or exchange offer for Common Shares by the
Company to the extent that the market value of the payment exceeds the then market price of the Common Shares on the date of expiry of the bid; and
  

(vi) the payment of cash dividends that exceed ordinary-course periodic dividends on the Common Shares.

		
	 Redemption:
	  	 Mandatory: In the event of an Asset Sale (to be defined) with more than $100 million of net cash proceeds from such Asset
Sale, occurring within six months after the Issue Date, the Company shall apply the net cash proceeds from such Asset Sale to redeem New Notes at a price equal to 105% of the par value of the New Notes, plus accrued and unpaid interest to the
redemption date; provided that (i) in the case of each such Asset Sale, the Company has minimum Liquidity, after giving effect to such Asset Sale and application of the net cash proceeds thereof, of at least $600 million, and (ii) the Company is
permitted to make such redemption by the agreements governing its outstanding indebtedness, which the Company will use commercially reasonable efforts to permit such redemption, subject to compliance with the foregoing liquidity
requirement.
  
 Optional: During the period commencing on the
61st day following the Issue Date and ending on the first
interest payment date, if US$100 million or less of the New Notes are outstanding, the Company may, from time to time, optionally redeem such New Notes at a price of 105% of the par value of the New Notes, plus accrued and unpaid interest to the
redemption date. Otherwise, three-year non-call, callable at the greater of Market and 110% of par in year 4, 112% of par in year 5, 115% of par in year 6 and par thereafter, in each case, plus accrued and unpaid interest to the redemption date.

  
 “Market” means a value to be determined by the Board,
which will retain a nationally recognized investment bank to make a reasonable determination of market value, which will assume, among other factors, a 35% volatility and a market price for the Common Share based on the trailing 20-day VWAP on the
Primary Trading Market immediately prior to the date of the notice of the call.

		
	 Fundamental Change:
	  	 Upon a Fundamental Change (as defined below), holders of the New Notes will have the right to require the Company to repurchase their
New Notes, in whole or in part, at a price equal to the accreted value of the principal amount of the New Notes based on the original issue price (less the Upfront Payment) plus accrued and unpaid interest thereon to such repurchase date.

 
 A “Fundamental Change” shall mean the occurrence of any of the
following: (i) the acquisition of 50% or more of the Common Shares by any person or group, (ii) a merger, sale of all or substantially all of the Company’s assets, share exchange or recapitalization the result of which less than 50% of common
equity of the continuing entity is held by holders

  

 5 

			
		  	of the common equity of the Company immediately prior to such transaction, (iii) a majority of directors cease to be “continuing directors” as customarily defined, (iv)
stockholders of the Company approve a plan of liquidation or dissolution of the Company, or (v) after the Common Shares are listed, they cease to be listed, provided, however, a Fundamental Change under clause (i) or (ii)
shall not be deemed to have occurred if at least 90% of the consideration received or to be received by holders of Common Shares, excluding cash payments for fractional shares, in connection with the transaction or transactions constituting the
Fundamental Change consists of shares of common stock, American Depositary Receipts, American Depositary Shares (or other similar instruments) traded on a national securities exchange in the United States or Canada or which will be so traded or
quoted when issued or exchanged in connection with a Fundamental Change (these securities being referred to as “Publicly Traded Securities”) and as a result of this transaction or transactions the debentures become convertible into
such Publicly Traded Securities, excluding cash payments for fractional shares.
		
	 Covenants; Events of

Default:
	  	 Will contain a customary SEC and Canadian Commission reporting covenant.

		
		  	 Will contain events of default customary for market converts. Will permit the Company to elect that the sole remedy for a default caused
by a failure to comply with the reporting covenant be the payment of additional interest on the Notes for up to 180 days, rather than acceleration.

		
	 Registration Rights for the

Backstop Notes:
	  	 With respect to the Backstop Notes and the Common Shares issuable upon conversion thereof, the Company will:

 
 •   file with SEC within
30 days after the earlier of (i) the date the Company becomes S-3 eligible (and has filed the information required by Part III of Form 10-K) and (ii) April 30, 2011, and
  

•   use commercially reasonable efforts to cause to become effective within 75 days after the
earlier of (i) the date the Company becomes S-3 eligible (and has filed the information required by Part III of Form 10-K) and (ii) April 30, 2011,
  

a shelf registration statement with respect to the resale of the Backstop Notes and the underlying Common Shares upon conversion of the Backstop Notes.

  
 If the Company fails to file such shelf registration statement or
register the Backstop Notes and the underlying Common Shares upon conversion of the Backstop Notes by the dates set forth above, the Company will be required to pay additional interest of 0.25% per annum to the holders of the Backstop Notes until
such time as the registration statement becomes effective.
  
 The Company
will keep the registration statement effective until the date that is two years from the date of effectiveness of the registration statement.

  

 6 

			
		
	 Documentation and Listing:
	  	 The terms of the indenture, the form of New Notes, and other applicable documentation related to the New Notes are to be proposed by
and in form and substance reasonably satisfactory to the Company and the Investors.
  

Company will make an application to list the Common Shares to be issued pursuant to the Plans and upon conversion or otherwise on (i) either the NASDAQ or
the NYSE and (ii) the TSX.

		
	 Choice of Law:
	  	New York.
		
	 Backstop Payment:
	  	If as of the Effective Date the Backstop Commitment Agreement has not been terminated, the Backstop Payment shall be paid on the Effective Date in an amount equal to the greater
of (x) $15 million (payable in cash) and (y) 6% of the Amount (50% paid in cash and 50% in the form of Common Shares, based on the Conversion Price).
		
	 Termination Payment:
	  	For termination after the date on which the Bankruptcy Court approves the Termination Payment but on or before the date on which the Bankruptcy Court or the Canadian Court
approves the Backstop Commitment Agreement or an alternative transaction (such date, the “Approval Date”), the Termination Payment shall be an amount (not to be less than $7.5 million) equal to the lesser of (x) $15 million and (y)
5% of the capital raised in the alternative transaction. For termination after the Approval Date but on or before October 15, 2010, the Termination Payment shall be $15 million. For termination after October 15, 2010, the Termination Payment shall
be an amount equal to the greater of (x) $15 million and (y) 6% of the Amount as in effect as of October 15, 2010 (payable in cash). In each case, the Termination Payment shall be payable upon consummation of the Plans or, if applicable,
consummation of the alternative transaction. Additional conditions to payment of the Termination Payment shall be specified in the Backstop Commitment Agreement.

 

 7 

 Exhibit D 

Plan Support Agreement 

 EXHIBIT D TO 

BACKSTOP COMMITMENT AGREEMENT 

FORM OF PLAN SUPPORT AGREEMENT 

This PLAN SUPPORT AGREEMENT (this “Agreement”) is made and entered into as of July    , 2010
by and between the following parties: 
 (a) The undersigned unsecured noteholder, subject to the addendum set forth on the
signature page hereto, if applicable, (the “Undersigned Holder” and collectively, with the unsecured noteholders who have executed similar agreements with the Company (as defined below), each a “Plan Support Party”
and collectively, the “Plan Support Parties”); and 
 (b) AbitibiBowater Inc., a Delaware corporation
(“ABH” or the “Company”, each of the Undersigned Holder and the Company, a “Party”, and collectively, the “Parties”). 

RECITALS 

WHEREAS, on April 16, 2009 (the “Petition Date”), ABH and certain of its subsidiaries (collectively, with certain
additional subsidiaries that filed on December 21, 2009, the “Chapter 11 Debtors”) commenced voluntary cases by filing petitions under chapter 11 of title 11 of the United States Code 11 U.S.C. §§ 101-1532 (the
“Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “U.S. Court”); 

WHEREAS, on April 17, 2009, certain Chapter 11 Debtors and non-Debtor subsidiaries of ABH (collectively, the “CCAA
Debtors” and, together with the Chapter 11 Debtors, the “Debtors”) applied for protection from their creditors under the Companies’ Creditors Arrangement Act (Canada), R.S.C. 1985, c. C-36, as amended (the
“CCAA”) in the Quebec Superior Court, Commercial Division, for the Judicial District of Montreal, Canada (the “Canadian Court” and, together with the U.S. Court, the “Bankruptcy Courts”);

 WHEREAS, each Undersigned Holder is the holder of claims, as defined in the Bankruptcy Code or the CCAA against
certain of the Debtors (whether or not asserted) arising prior to the Petition Date (collectively, the “ABH Claims”); 

WHEREAS, the Parties have negotiated in good faith regarding, and now desire to implement, a financial
restructuring (the “Restructuring”) of the Company on the terms and conditions set forth in the Debtors’ First Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code, dated May 24, 2010,
attached hereto as Exhibit 1 (such plan, as the same may be amended, supplemented or modified from time to time in accordance with the terms hereof, and in form and substance reasonably acceptable to the Majority Support
Parties1, the “U.S. Plan”) and the
First Amended Plan of Reorganization and Compromise of AbitibiBowater Inc. and Certain of its Subsidiaries under the CCAA, dated May 24, 2010, attached hereto as Exhibit 2 (such plan, as the same may be amended, supplemented or
modified from time to time in accordance with the terms hereof, and in form and substance reasonably acceptable to the Majority Support Parties, the “CCAA Plan” and, together with the U.S. Plan, the
“Plans”);2 

 
  

	1
	 “Majority Support Parties” shall mean Plan Support Parties representing 50% or more of the aggregate face value of the Note Claims of
the Plan Support Parties, at the time the relevant determination is made. 

	2
	 Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the U.S. Plan. 

 WHEREAS, on July [7], 2010, the U.S. Court entered an order approving a disclosure
statement for the U.S. Plan (such disclosure statement, as the same may be amended, supplemented or modified from time to time in a manner consistent with the U.S. Plan, the “Disclosure Statement”); 

WHEREAS, on July [    ], 2010, the Canadian Court entered an order approving the mailing of the information
circular statement for the CCAA Plan (such information circular, as the same may be amended, supplemented or modified from time to time in a manner consistent with the CCAA Plan, the “Information Circular”) and procedures for voting
on the CCAA Plan and holding creditor meetings in connection with the CCAA Plan (the “Circular Order”); 

WHEREAS, in connection with the transactions contemplated by the Plans, the Company, certain Plan Support Parties and certain
other parties (each, an “Other Investor”) have entered into that certain Backstop Commitment Agreement, dated May 24, 2010 (such agreement, as the same may be amended, supplemented or modified in accordance with the terms
therein, the “Commitment Agreement”); 
 WHEREAS, on June [22], 2010, the U.S. Court entered an order
approving the Company’s entry into the Commitment Agreement; 
 WHEREAS, on June [22], 2010, the Canadian Court
issued an order approving the Company’s entry into the Commitment Agreement; 
 WHEREAS, the Parties have engaged in
good faith negotiations with the objective of reaching an agreement with regard to the treatment of the ABH Claims under the Plans; 

WHEREAS, each Party has reviewed, or has had the opportunity to review, this Agreement and the Plans with the assistance of
professional legal advisors of its own choosing; 
 WHEREAS, the Company desires to obtain the
commitment of the Undersigned Holder to support and vote to accept the
Plans,3 subject to the terms and conditions set forth
herein to which the Undersigned Holder is party; and 
 WHEREAS, subject to the execution of definitive documentation and
appropriate approvals by the Bankruptcy Courts of the Plans, the following sets forth the agreement between the Parties concerning their respective obligations. 
  

 

	3
	 Any reference to “Plans” in this Agreement shall refer to both the U.S. Plan and the CCAA Plan or either of those Plans, as applicable.

  

 2 

 AGREEMENT 

NOW THEREFORE, in consideration of the promises and the mutual covenants and agreements set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

1. Effectuating the Restructuring. 

To implement the Plans, the Parties have agreed, on the terms and conditions set forth herein, that the Company shall use its commercially
reasonable efforts to: 
  

	 	(a)	solicit the requisite acceptances of the U.S. Plan in accordance with section 1125 of the Bankruptcy Code; 

 

	 	(b)	seek confirmation of the U.S. Plan as expeditiously as practicable under the Bankruptcy Code, including under section 1129(b) thereof, the Federal Rules of Bankruptcy
Procedure and the U.S. Court’s local rules; 

  

	 	(c)	solicit the requisite acceptances of the CCAA Plan in accordance with the CCAA; 

 

	 	(d)	seek issuance of a sanction order with respect to the CCAA Plan as expeditiously as practicable under the CCAA and any applicable rules and guidelines; and

  

	 	(e)	consummate the Plans. 

 Without
limiting any other provision hereof, the Company hereby agrees to negotiate in good faith each of the definitive agreements and documents referenced herein, including the Plan, the Disclosure Statement, the Information Circular and the Commitment
Agreement, or reasonably necessary or desirable to effectuate the transactions in connection with the Restructuring. 
 2.
Commitments of the Undersigned Holder Under this Agreement. 
 (a) Voting by Undersigned Holder. 

As long as a Termination Event (as defined in Section 9(a) hereof) has not occurred, or has occurred but has been duly waived (or, in
the case of a breach under Section 9(a)(xi) hereof, cured) in accordance with the terms hereof, the Undersigned Holder agrees for itself and on behalf of the accounts within its control that, so long as it is the legal owner and beneficial
owner with power and/or authority to bind any ABH Claims and vote on a plan of reorganization or plan of arrangement which comports with the definition of the Plans in this Agreement, following receipt of the Disclosure Statement and the Information
Circular and other related solicitation materials approved by the Bankruptcy Courts, it shall be bound to, and will, timely vote its ABH Claims (and not revoke or withdraw its vote) in favor of the Plans. Notwithstanding anything to the contrary
contained herein, separate and distinct client accounts maintained and any ABH Claims held by affiliates not controlled by the Undersigned Holder shall not be affected by this Agreement. 

 

 3 

 (b) Support of Plans. 

As long as a Termination Event has not occurred, or has occurred but has been duly waived (or, in the case of a breach under
Section 9(a)(xi) hereof, cured) in accordance with the terms hereof, the Undersigned Holder, agrees for itself and on behalf of the accounts within its control that, so that, so long as it remains the legal owner and beneficial owner with power
and/or authority to bind any ABH Claims it will: 
  

	 	i.	from and after the date hereof, not directly or indirectly seek, solicit, support or vote in favor of any other plan, sale, proposal or offer of dissolution, winding
up, liquidation, reorganization, merger or restructuring of any Chapter 11 Debtor or any CCAA Debtor that could reasonably be expected to prevent, delay or impede the Restructuring of the Chapter 11 Debtors or CCAA Debtors in accordance with the
Plans; provided, however, that separate and distinct client accounts maintained and any ABH Claims held by affiliates not controlled by the Undersigned Holder shall not be affected by this subsection 2(b)(i);

  

	 	ii.	permit disclosure of the contents of this Agreement; provided, however, that the Company’s ability to disclose the contents of this
Agreement are subject to Section 11(m) hereof; provided, further however, that separate and distinct client accounts maintained and any ABH Claims held by affiliates not controlled by the Undersigned Holder shall not
be affected by this subsection 2(b)(ii); 

  

	 	iii.	not object to or otherwise commence any proceeding opposing any of the terms of this Agreement, the Disclosure Statement, the Information Circular, the Plans or
the Commitment Agreement, except to the extent that the terms contained therein are inconsistent with the Plans; 

  

	 	iv.	not take any action, including, without limitation, initiate any legal proceeding, that is inconsistent with, or that could reasonably be expected to prevent, delay or
impede confirmation or consummation of the Plans; and 

  

	 	v.	use its commercially reasonable efforts to work with the Company to meet the deadlines set forth in Sections 3(b) and 9(a) hereof. 	 

 Notwithstanding the foregoing, nothing in this Agreement shall be construed
as to prohibit any Plan Support Party from appearing as a party-in-interest in any matter to be adjudicated in the cases of the Chapter 11 Debtors or the cases of the CCAA Debtors, including, but not limited to asserting any claims, counterclaims,
or defenses, so long as such appearance and the positions advocated in connection therewith are consistent with the Plans, the Disclosure Statement or the Information Circular and are not for the purpose of hindering, delaying or preventing the
confirmation or consummation of the Plans and the Restructuring contemplated thereby. 
  

 4 

 (c) Transfer (as defined below) of Claims, Interests and Securities. 

The Undersigned Holder hereby agrees, until this Agreement shall have terminated, not to (i) sell, assign, transfer, pledge or
otherwise dispose of, directly or indirectly (each such disposition, a “Transfer”), all or any of its ABH Claims, including any voting rights associated with such ABH Claims, or (ii) grant any proxies, deposit any of its ABH
Claims into a voting trust or enter into a voting agreement with respect to any of its ABH Claims, unless, in each case, the counterparty thereof either is a Plan Support Party or agrees for the benefit of the Parties (a) to be bound by all of
the terms of this Agreement and (b) to assume the rights and obligations of the Undersigned Holder under this Agreement, by executing the Joinder attached hereto as Exhibit 3, a copy of which shall be provided to the Company (each such
transferee becoming, upon the Transfer, an Undersigned Holder hereunder) promptly, but in any event within three (3) business days after the Transfer. By its acknowledgement of written notice of the relevant Transfer, or five (5) business
days after a copy of any Joinder is provided to the Company, the Company shall be deemed to have acknowledged that its obligations to the Undersigned Holder hereunder shall be deemed to constitute obligations in favor of the relevant transferee as
an Undersigned Holder hereunder. Any Transfer of any ABH Claim that does not comply with the procedure set forth in the first sentence of this Subsection 2(c) shall be deemed void ab initio. With respect to the Note Claims (as defined below)
held by the relevant transferee upon consummation of a Transfer, such transferee is deemed to make all of the representations and warranties of the Undersigned Holder set forth in Section 2(e) and Section 4 of this Agreement to the
Company; provided, however, the restrictions contained in this subsection 2(c) do not apply to transactions in the Undersigned Holder’s ordinary course broker-dealer business, unless such broker-dealer business
acquired an ABH Claim from a Plan Support Party or sold an ABH Claim to a Plan Support Party. 
 (d) Further Acquisition of ABH
Claims. 
 This Agreement shall in no way be construed to preclude the Undersigned Holder or any of its respective subsidiaries
from acquiring additional ABH Claims; provided that any such additional ABH Claims acquired by the Undersigned Holder shall automatically be deemed to be subject to the terms of this Agreement and, to the extent that the Undersigned
Holder acquires additional Note Claims (defined below), the representations set forth in Section 2(e) hereof shall be deemed to have been made with respect to any such Note Claims acquired after the date hereof. Upon the request of the Company,
the Undersigned Holder shall, within five (5) business days of such request, provide the Company with an updated list of all ABH Claims that it holds at that time, subject to any applicable confidentiality restrictions and applicable law;
provided, however, the restrictions contained in this subsection 2(d) do not apply to transactions in the Undersigned Holder’s ordinary course broker-dealer business, unless such broker-dealer business acquired an
ABH Claim from a Plan Support Party or sold an ABH Claim to a Plan Support Party. 
  

 5 

 (e) Representation of the Undersigned Holder’s Holdings. 

The Undersigned Holder represents that, as of the date hereof: 

 

	 	i.	it is the legal owner, beneficial owner (directly or indirectly) and/or the nominee, investment manager or advisor for the legal or beneficial holders of such ABH
Claims set forth on its respective signature page that are Claims in Class 6 of the U.S. Plan and Claims in the Affected Unsecured Creditor Classes of the CCAA Plan (collectively, the “Note Claims”); 

 

	 	ii.	there are no Note Claims of which it is the legal owner, beneficial owner and/or investment manager or advisor for the legal or beneficial owner that are not listed on
its respective signature page unless the Undersigned Holder does not possess the full power to vote and dispose of such Note Claims; 

  

	 	iii.	other than pursuant to this Agreement, such Note Claims are free and clear of any pledge, lien, security interest, charge, claim, equity, option, proxy, voting
restriction, right of first refusal or other limitation on disposition or encumbrances of any kind, that would adversely affect in any way the Undersigned Holder’s performance of its obligations contained in this Agreement at the time such
obligations are required to be performed; and 

  

	 	iv.	it has full power to vote, dispose of and compromise the aggregate principal amount of the Note Claims. 

3. The Company’s Responsibilities. 

(a) Other Support Agreements. 

The Company represents and warrants that, if it has entered into (or concurrently herewith is entering into) restructuring agreements,
plan support or lock-up agreements (collectively, the “Other Support Agreements”) with other parties supporting the Plans (each, an “Other Support Agreement Party,” and collectively, the “Other Support
Agreement Parties”), the Other Support Agreements are materially similar to this Agreement and, in any event, the terms and conditions thereof do not have a material adverse affect on the Undersigned Holder. 

(b) Implementation of the Plans. 

The Company shall use its commercially reasonable efforts to: 

 

	 	i.	effectuate and consummate the Restructuring on the terms described in the Plans; 

 

	 	ii.	 obtain from the U.S. Court an order confirming the U.S. Plan, which order shall be in form and substance materially consistent with the U.S. Plan and
reasonably acceptable to the Majority 

  

 6 

	 	
Support Parties (the “Confirmation Order”) and cause the Confirmation Order to be entered by the U.S. Court no later than October 15, 2010; 

 

	 	iii.	obtain from the Canadian Court an order sanctioning the CCAA Plan, which order shall be in form and substance materially consistent with the CCAA Plan and reasonably
acceptable to the Majority Support Parties (the “Sanction Order”) and cause the Sanction Order to be entered by the Canadian Court no later than October 15, 2010; 

 

	 	iv.	cause the Effective Date of the U.S. Plan to occur no later than October 29, 2010; 

 

	 	v.	cause the Implementation Date (as defined in the CCAA Plan) of the CCAA Plan to occur no later than October 29, 2010; and 

 

	 	vi.	take no actions that are materially inconsistent with this Agreement, the Commitment Agreement, or the Plans or the expeditious effectuation and consummation of the
Plans, or would discriminate unfairly as to creditors holding Class 6 Claims under the U.S. Plan. 

 (c)
Notification to the Plan Support Parties of Alternative Transaction. 
 If at any time the Company’s board of directors
determines that it shall pursue of an alternative transaction, sale, merger, consolidation, restructuring, reorganization, disposition, liquidation or dissolution (each an “Alternative Transaction”), the Company shall promptly
notify the Plan Support Parties in writing regarding such Alternative Transaction. 
 4. Mutual Representations and
Warranties 
 The Undersigned Holder makes the following representations and warranties (as to itself only) to the
Company, and the Company makes the following representations and warranties (as to itself and on behalf of each of its subsidiaries), in each case, as of the date of this Agreement and each of which is a continuing representation and warranty until
the earlier of (i) the occurrence of a Termination Event and (ii) the Effective Date or the Implementation Date (as defined in the CCAA Plan), as applicable: 

(a) Enforceability. 

Subject to the provisions of sections 1125 and 1126 of the Bankruptcy Code and applicable Canadian law, this Agreement is a legal, valid
and binding obligation of the Party, enforceable against it in accordance with its terms, except as enforcement may be limited by applicable laws relating to or limiting creditors’ rights generally or by equitable principles relating to
enforceability or ruling of the Bankruptcy Courts. 
  

 7 

 (b) No Consent or Approval. 

Except as expressly provided in this Agreement, no consent or approval is required by any other entity in order for it to execute and
deliver and to carry out the provisions of this Agreement. 
 (c) Power and Authority. 

It has and shall maintain all requisite power and authority to enter into this Agreement and to carry out the transactions contemplated
by, and perform its respective obligations under, this Agreement and the Plans. 
 (d) Authorization. 

The execution and delivery of this Agreement and the performance of its obligations hereunder have been duly authorized by all necessary
action on its part. 
 (e) No Conflicts. 

The execution, delivery and performance of this Agreement does not: (i) violate any provision of law, rule or regulations applicable
to it; (ii) violate its certificate of incorporation, bylaws or other organizational documents; or (iii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any material contractual
obligation to which it is a party. 
 (f) Corporate Standing. 

Each Party is duly organized, validly existing, and in good standing under the laws of the state or province of its organization, and has
all requisite corporate, partnership, or limited liability company power and authority to enter into this Agreement and to carry out the transactions contemplated by, and perform its respective obligations under, this Agreement. 

(g) Fiduciary Duty. 

Each Party is not aware of any event that, due to any fiduciary or similar duty to any other person, would prevent it from taking any
action required of it under this Agreement. 
 5. Supporting Noteholders/Cooperation. 

Without limiting any other provision hereof, the Undersigned Holder hereby agrees to (a) negotiate in good faith the definitive
agreements and documents reasonably necessary or desirable to implement the Restructuring, which shall be, in all material respects, substantially in accordance with the terms and conditions contained in the Plans and (b) act in good faith to
support the implementation and documentation of the Restructuring. Without limiting the generality of the foregoing, the Company shall, except where it is not reasonably practicable, provide draft copies of all motions or applications and other
documents related to the Plans and/or the Exit Financing Facilities that the Company intends to file with the U.S. Court and/or the Canadian Court to counsel designated by each Plan Support Party within (3) three business

  

 8 

 
days prior to the date when the Company intends to file any such document and shall consult in good faith with such counsel designated by each Plan Support Party regarding the form and substance
of any such proposed filing with the Bankruptcy Courts. 
 6. No Waiver of Participation and Preservation of Rights.

 If the transactions contemplated by the Plans are not consummated as provided therein or if this Agreement is terminated,
nothing shall be construed herein as a waiver by any Party of any or all of such Party’s rights and the Parties expressly reserve any and all of their respective rights and remedies under applicable law and in equity. 

7. Cooperation. 

The Undersigned Holder will (a) negotiate in good faith regarding the definitive documentation necessary to implement the
Restructuring, which shall be, in all material respects, substantially in accordance with the terms and conditions contained in the Plans, and (b) act in good faith to support the implementation and consummation of the Restructuring. The
Company shall use commercially reasonable efforts to keep the Plan Support Parties reasonably informed with respect to the implementation and consummation of the Restructuring and all material developments related thereto. 

8. Acknowledgement. 

This Agreement, the Plans and the transactions contemplated herein and therein are the product of negotiations between the Parties and
their respective representatives. This Agreement is not and shall not be deemed to be a solicitation of votes for the acceptance of a plan of reorganization for the purposes of sections 1125 and 1126 of the Bankruptcy Code or a plan of compromise
for the purposes of the CCAA or otherwise. The Company will not solicit acceptances of the Plans from the Undersigned Holder in any manner inconsistent with the Bankruptcy Code, the CCAA or applicable nonbankruptcy law. In addition, this Agreement
does not constitute an offer to issue or sell securities to any person, or the solicitation of an offer to acquire or buy securities, in any jurisdiction where such offer or solicitation would be unlawful. 

9. Termination. 

(a) Termination Events. 

The term “Termination Event,” wherever used in this Agreement, means any of the following events (whatever the reason for
such Termination Event and whether it is voluntary or involuntary): 
  

	 	i.	the Company’s board of directors determines, in its sole discretion, that continued pursuit of either or both of the Plans is inconsistent with its fiduciary
duties or that either or both of the Plans is no longer confirmable or feasible; 

  

 9 

	 	ii.	the Company files, supports or endorses a plan of reorganization, a plan of liquidation or a plan of compromise that is materially inconsistent with the Plans;

  

	 	iii.	a Confirmation Order reasonably acceptable to the Company and the Majority Support Parties is not entered by the U.S. Court on or before the later of
(x) October 15, 2010 and (y) the latest date on which the Company’s commitments for the Exit Financing Faculties expire; 

  

	 	iv.	a Sanction Order reasonably acceptable to the Company and the Majority Support Parties is not issued by the Canadian Court on or before the later of
(x) October 15, 2010 and (y) the latest date on which the Company’s commitments for the Exit Financing Faculties expire; 

  

	 	v.	the Effective Date or the Implementation Date (as defined in the CCAA Plan) does not occur by December 31, 2010; 

 

	 	vi.	the case of any material Chapter 11 Debtor, or of any group of Chapter 11 Debtors that collectively are material, is dismissed or converted to a case under chapter 7 of
the Bankruptcy Code; 

  

	 	vii.	the case of any material CCAA Debtor, or of any group of CCAA Debtors that collectively are material, is dismissed or converted to a liquidating bankruptcy case under
applicable Canadian bankruptcy law; 

  

	 	viii.	the Confirmation Order or the Sanction Order is reversed on appeal or vacated; 

 

	 	ix.	the U.S. Court shall enter an order in the case of any material Chapter 11 Debtor, or in the cases of a group of Chapter 11 Debtors that collectively are material,
appointing (a) a trustee under chapter 7 or chapter 11 of the Bankruptcy Code, (b) a responsible officer, or (c) an examiner, in each case with enlarged powers relating to the operation of the business (powers beyond those set forth
in subclauses (3) and (4) of section 1106(a)) under section 1106(b) of the Bankruptcy Code; 

  

	 	x.	a trustee, receiver, receiver and manager or liquidator is appointed in the case of any material CCAA Debtor, or in the cases of a group of CCAA Debtors that
collectively are material, under applicable Canadian law; 

  

	 	xi.	any Party has breached any material provision of this Agreement, and any such breach has not been duly waived or cured within five (5) business days of written
notice by another Party to the Company and the breaching Party of such breach; provided, that if any Plan Support Party shall breach its obligations pursuant to this Agreement or any similar agreement executed by a Plan Support Party,
a Termination Event arising as a result of such act or omission shall only give rise to a termination of the breaching Plan Support Party’s Agreement; 

  

 10 

	 	xii.	the Company (a) withdraws either or both of the Plans or (b) publicly announces its intention not to support either or both of the Plans;

  

	 	xiii.	any material change to the Plans shall have been made, or any exhibit, supplement, schedule or related or ancillary agreement or instrument or any amendment,
modification, consent or waiver to any of the foregoing shall have been agreed to, entered into, executed and delivered, or filed with the Bankruptcy Courts or otherwise given effect pursuant to which (a) general unsecured creditors will
receive a distribution of securities other than the New ABH Common Stock proposed to be distributed pursuant to the Plans or (b) the New ABH Common Stock to be distributed to general unsecured creditors, as allocated between the separate entity
groupings within the Company’s corporate structure based on historic operations (such groupings, as defined in the Disclosure Statement, the “Abitibi/D-Corp Companies” and the “Bowater Companies,”
respectively), will be distributed other than 60% of the New ABH Common Stock to be distributed to unsecured creditors of the Bowater Companies and 40% of the New ABH Common Stock to be distributed to unsecured creditors of the Abitibi/D-Corp
Companies and, in each case, such change is not acceptable to the Undersigned Holder; 

  

	 	xiv.	occurrence of the Termination Event described in Section 9(c) below; 

  

	 	xv.	any court of competent jurisdiction or other competent governmental or regulatory authority issues an order making illegal or otherwise restricting, preventing or
prohibiting the consummation of the transactions contemplated in the Plans, the Commitment Agreement or any of the related documentation or ancillary agreements in a way that cannot be reasonably remedied by the Company subject to the reasonable
satisfaction of the Majority Support Parties; 

  

	 	xvi.	if the Company or any party in interest obtains standing to assert, and files an objection or initiates a contested matter or adversary proceeding with the Bankruptcy
Courts (or any other court) challenging an unsecured claim of any of the Undersigned Holders; or 

  

	 	xvii.	 excluding the occurrence of a material change to the Plans as described in Section 9(c) hereof, any other material change to the Plans, or any
exhibit, supplement, schedule or related or ancillary agreement or instrument thereto, or the Company shall have agreed to, entered into, executed and delivered, or filed with either the

  

 11 

	 	
U.S. Court or the Canadian Court, any amendment, modification, consent or waiver to any of the foregoing, unless such material change is acceptable to the Majority Support Parties.

 The foregoing Termination Events are intended solely for the benefit of the Company and each Undersigned
Holder; provided that neither the Company nor any Plan Support Party may seek to terminate this Agreement based upon a material breach or a failure of a condition (if any) in this Agreement arising out of their own actions or omissions
that were in violation of this Agreement. 
 (b) Termination Event Procedures. 

 

	 	i.	This Agreement shall automatically terminate and be of no further force or effect upon the first to occur of the Termination Events contemplated by any of clauses (v),
(vi), (vii), (ix) or (x) of Section 9(a) hereof. In the event of a Termination Event contemplated by clause (xiv) of Section 9(a) hereof, this Agreement shall terminate upon written notice to the Company in accordance with
Section 9(c)(iii) hereof. 

  

	 	ii.	Except as set forth in clause (i) of Section 9(b) hereof and subject to the last sentence of Section 9(a) hereof, this Agreement shall terminate and be
of no further force or effect upon written notice to the Plan Support Parties by the Company upon the occurrence of any Termination Event (and with respect to clause (xi) of Section 9(a), due to a breach by the Undersigned Holder that has
not been cured); provided, that if any Plan Support Party shall breach its obligations pursuant to this Agreement or any similar agreement executed by a Plan Support Party, a Termination Event arising as a result of such act or
omission shall apply only to the breaching Plan Support Party. 

  

	 	iii.	 Except as set forth in clause (i) of Section 9(b) hereof and subject to the last sentence of Section 9(a) hereof, this Agreement shall
terminate and be of no further force or effect upon written notice to the Company by the Undersigned Holder upon the occurrence of any Termination Event, except where the Termination Event is conditioned upon the approval or acceptance of the
Majority Support Parties in which event this Agreement shall terminate and be of no further force or effect upon written notice to the Company by the Majority Support Parties (and with respect to clause (xi) of Section 9(a), due to a
breach by the Company that has not been cured). The Parties hereby waive any requirement under section 362 of the Bankruptcy Code or the CCAA to lift the automatic stay thereunder and the stay of proceeding in effect under the CCAA in connection
with giving any such notice and effecting such termination (and agree not to object to any non-breaching Party seeking to lift the automatic stay or the CCAA stay in connection

  

 12 

	 	
with giving any such notice and effecting such termination, if necessary); provided, that if any Plan Support Party shall breach its obligations pursuant to this Agreement or any
similar agreement executed by a Plan Support Party, a Termination Event arising as a result of such act or omission shall apply only to the breaching Plan Support Party. 

 

	 	iv.	Any such termination (or partial termination) of the Agreement shall not restrict the Parties’ rights and remedies for any breach of the Agreement by any Party,
including, but not limited to, pursuant to the reservation of rights set forth herein. 

 (c)(i) There shall be a
Termination Event if there is a material change to the percentage of New ABH Common Stock to be distributed to the Undersigned Holder as described in subsection (c)(ii) below, unless such material change has been mandated by an order of the
Bankruptcy Courts over the objection or motion for disallowance by the Company or the Undersigned Holder. 
 (ii) To determine
whether there has been a material change to the percentage of New ABH Common Stock to be distributed to the Undersigned Holder, no later than three (3) days after the Confirmation Hearing, the Company shall deliver to the Undersigned Holder a
certificate of a responsible officer (the “Recovery Certificate”) of the Company that includes: 
  

	 	a.	A good faith statement of the total percentage of New ABH Common Stock reasonably expected to be received on the Effective Date by the Undersigned Holder on account of
Claims in Class 6 of the U.S. Plan and Claims in the Affected Unsecured Creditor Classes of the CCAA Plan, predicated upon the analysis set forth (on a per bond issuance basis) on Exhibit 4 hereto (the total percentage of New ABH Common Stock
set forth on the Exhibit 4 hereto for each applicable bond issuance, the “Fixed Percentage”) and after giving effect to the Disputed Claims Reserve (as defined in the Plans); 

 

	 	b.	A representation to the Undersigned Holder that the Company reasonably believes in good faith that the total percentage of New ABH Common Stock expected to be received
by the Undersigned Holder on account of the Undersigned Holder’s relevant Claim(s) as of the Final Distribution Date (as defined in the U.S. Plan) will be the percentage stated in the certificate (the “Ultimate Recovery”), it
being understood that the Company shall calculate the Ultimate Recovery using the same formula and methodology used to calculated the Fixed Percentage; and 

 

	 	c.	A comparison of the Ultimate Recovery against the Fixed Percentage, along with an explanation of Claims included in calculating the Ultimate Recovery that were mandated
by an order of the Bankruptcy Courts over the objection or motion for disallowance by the Company or the Undersigned Holder. 

(iii) If the Recovery Certificate delivered by the Company demonstrates that (A) the Ultimate Recovery is lower than the Fixed
Percentage by more than five percent (5%) of the Fixed Percentage and (B) such reduced recovery is caused by additional allowed Claims (other 

 

 13 

 
than Claims mandated by an order of the Bankruptcy Courts over the objection or motion for disallowance by the Company or the Undersigned Holder), then a Termination Event shall have occurred and
the Undersigned Holder shall have the right to terminate this Agreement pursuant to section 9(b)(iii) hereof no earlier than three (3) days after delivery of the Recovery Certificate. 

10. Fees and Expenses 

The Company shall reimburse or pay, as the case may be, the documented fees and out-of-pocket expenses reasonably incurred on or before the Effective Date
by each Plan Support Party payable to Shearman & Sterling LLP, Kramer Levin Naftalis & Frankel LLP and Torys LLP and up to $50,000 per Plan Support Party for fees and out-of-pocket expenses incurred by one counsel to a Plan Support
Party arising under or related to this Agreement, through and including the date of termination of this Agreement within ten days of presentation of an invoice. The Company’s obligation to pay such fees and expenses incurred on or before the
Effective Date shall survive termination of this Agreement. 
 11. Miscellaneous Terms. 

(a) Binding Obligation; Assignment. 

Binding Obligation. Subject to the provisions of sections 1125 and 1126 of the Bankruptcy Code and applicable sections of the CCAA
and other applicable Canadian law, upon execution of this Agreement by the Company and the Undersigned Holder, which shall occur promptly, but in any event within two (2) business days after the later of (a) entry of an order by the U.S.
Court approving the Disclosure Statement, (b) issuance by the Canadian Court of the Circular Order; (c) entry of an order by the U.S. Court approving this Agreement; or (d) entry of an order by the Canadian Court approving this
Agreement, this Agreement shall be a legally valid and binding obligation of the Parties, enforceable in accordance with its terms, and shall inure to the benefit of the Parties and their representatives. For the avoidance of doubt, the Parties
acknowledge and agree that this Agreement shall not be effective until after the U.S. Court has entered an order approving the Disclosure Statement and the Canadian Court has issued the Circular Order. Unless terminated pursuant to Section 9
hereof, this Agreement shall continue to be in full force and effect as of the Effective Date. Nothing in this Agreement, express or implied, shall give to any entity, other than the Parties and their respective successors or permitted assigns, any
benefit or any legal or equitable right, remedy or claim under this Agreement. 
 Assignment. No rights or obligations of
any Party under this Agreement may be assigned or transferred to any other entity except as provided in Section 2(c) hereof, and any purported assignment or transfer in violation of Section 2(c) shall be null and void ab initio.

 (b) Further Assurances. 

The Parties agree to execute and deliver such other instruments and perform such acts, in addition to the matters herein specified, as may
be reasonably appropriate or necessary, from time to time, to effectuate the agreements of the Parties expressed herein. 
  

 14 

 (c) Headings. 

The headings of all sections of this Agreement are inserted solely for the convenience of reference and are not a part of and are not
intended to govern, limit or aid in the construction or interpretation of any term or provision hereof. 
 (d) Governing Law.

 THIS AGREEMENT IS TO BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED IN SUCH STATE AND WITH APPLICABLE CANADIAN AND UNITED STATES BANKRUPTCY LAW. By its execution and delivery of this Agreement, each of the Parties hereto hereby irrevocably and unconditionally agrees for itself that any legal
action, suit or proceeding with respect to any matter under or arising out of or in connection with this Agreement or for recognition or enforcement of any judgment rendered in any such action, suit or proceeding, shall be brought exclusively in the
U.S. Court. 
 (e) Waiver of Jury Trial 

Each Party hereto irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort
or otherwise) arising out of or relating to this Agreement or the transactions contemplated hereby or the actions of the Undersigned Holder or any of its affiliates in the negotiation, performance or enforcement of this Agreement. 

(f) Remedies 

The Parties hereby acknowledge that the rights of the Parties under this Agreement are unique and that remedies at law for breach or
threatened breach of any provision of this Agreement would be inadequate and, in recognition of this fact, agree that, in the event of a breach or threatened breach of the provisions of this Agreement, in addition to any remedies at law, the Parties
shall, without posting any bond, be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available and the Parties
hereby waive any objection to the imposition of such relief. 
 All rights, powers and remedies provided under this Agreement or
otherwise available in respect hereof at law or in equity shall be cumulative and not alternative, and the exercise of any right, power or remedy thereof by any Party shall not preclude the simultaneous or later exercise of any other such right,
power or remedy by such Party. 
 (g) Complete Agreement, Interpretation and Modification. 

 

	 	i.	Complete Agreement. This Agreement, the Plans and the other agreements, exhibits and other documents referenced herein and therein constitute the complete
agreement between the Parties with respect to the subject matter hereof and supersede all prior agreements, oral or written, between or among the Parties with respect thereto; provided, however, that any confidentiality agreement
executed by any Plan Support Party shall survive this Agreement and shall continue to be in full force and effect, in accordance with the terms thereof, irrespective of the terms hereof; 

 

 15 

	 	ii.	Interpretation. This Agreement is the product of good faith negotiation by and among the Parties. Any Party enforcing or interpreting this Agreement shall
interpret it in a neutral manner. There shall be no presumption concerning whether to interpret this Agreement for or against any Party by reason of that Party having drafted this Agreement, or any portion thereof, or caused it or any portion
thereof to be drafted. 

  

	 	iii.	Modification of this Agreement. This Agreement may only be modified, altered, amended or supplemented by an agreement in writing signed by the Company and the
Undersigned Holder. 

 (h) Relationship Among Parties. 

Notwithstanding anything herein to the contrary, the duties and obligations of the Plan Support Parties under this Agreement shall be
several, not joint. Furthermore, it is understood and agreed that no Plan Support Party has any duty of trust or confidence in any form with any other Plan Support Party, and there are no commitments among or between them. No prior history, pattern
or practice of sharing confidences among or between Plan Support Parties shall in any way affect or negate this understanding and agreement. 

(i) Execution of this Agreement. 

This Agreement may be executed and delivered (by facsimile or otherwise) in any number of counterparts, each of which, when executed and
delivered, shall be deemed an original, and all of which together shall constitute the same agreement. Except as expressly provided in this Agreement, each individual executing this Agreement on behalf of a Party has been duly authorized and
empowered to execute and deliver this Agreement on behalf of said Party. 
 (j) Settlement Discussions. 

Nothing herein shall be deemed an admission of any kind. Pursuant to Federal Rule of Evidence 408 and any applicable state rules of
evidence, this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding other than a proceeding to enforce the terms of this Agreement. Notwithstanding the foregoing, this Agreement may be filed with
the Courts. 
 (k) Continued Banking Practices. 

Notwithstanding anything herein to the contrary, the Plan Support Parties and their affiliates may accept deposits from, lend money to,
and generally engage in any kind of banking, investment banking, trust or other business with, or provide debt financing (including exit financing), equity capital or other services (including financial advisory services) to the Company or any
affiliate of the Company or any other person, including, but not limited to, any person proposing or entering into a transaction related to or involving the Company or any affiliate thereof. 

 

 16 

 (l) Consideration. 

The Company and the Undersigned Holder hereby acknowledge that no consideration, other than that specifically described herein and in the
Plans, shall be due or paid to the Undersigned Holder for its agreement to vote to accept the Plans (or any other plan or reorganization or plan of arrangement) in accordance with the terms and conditions of this Agreement, other than the
Company’s representations, warranties and agreement to use its commercially reasonable best efforts to seek to effectuate and consummate the Plans. 

(m) Confidentiality 

The Company agrees to keep confidential the amount of Note Claims held (beneficially or otherwise) by each Plan Support Party, except to
the extent required by applicable law or unless otherwise agreed to in writing with a Plan Support Party (and then, only with respect to such agreeing Plan Support Party’s holdings). Notwithstanding the foregoing, the Company shall not be
required to keep confidential the aggregate holdings of the Plan Support Parties. 
 (n) Notices. 

All notices hereunder shall be deemed given if in writing and delivered, if sent by facsimile, courier or by registered or certified mail
(return receipt requested) to the following addresses and facsimile numbers (or at such other addresses or facsimile numbers as shall be specified by like notice): 
  

							
		 	 i.
	 	If to the Company, to:
			
		 		 	AbitibiBowater Inc.
		 		 	1155 Metcalfe Street, Suite 800
		 		 	Montreal (Quebec), Canada H3B 5H2
		 		 	Attention:	  	Chief Legal Officer
		 		 	Facsimile:	  	(514) 394-3644
			
		 		 	with copies (which shall not constitute notice) to:
			
		 		 	Paul, Weiss, Rifkind, Wharton & Garrison LLP
		 		 	1285 Avenue of the Americas
		 		 	New York, New York 10019-6064
		 		 	Attention:	  	Kelley A. Cornish
		 		 		  	Alice Belisle Eaton
		 		 	Facsimile:	  	(212) 757-3990
			
		 		 	— and –
			
		 		 	Stikeman Elliott LLP
		 		 	1155, boul. René-Lévesque Ouest, 40e étage
		 		 	Montréal, QC H3B 3V2
		 		 	Attention:	  	Marc Barbeau
		 		 		  	Sean Dunphy
		 		 	Facsimile:	  	(514) 397-3222

  

 17 

							
		 	ii.	 	If to the Undersigned Holder or a transferee thereof, to the addresses or facsimile numbers set forth below following the Undersigned Holder’s signature (or as
directed by any transferee thereof), as the case may be, with copies (which shall not constitute notice) to:
			
		 		 	 Fairfax Financial Holdings Ltd.

95 Wellington Street West, Suite 800

		 		 	Toronto, ON, M5J 2N7, Canada
		 		 	Attn:	 	Paul Rivett
		 		 	Telephone:	 	(416) 367-4942
		 		 	Facsimile:	 	(416) 367-2201
			
		 		 	Avenue Investments, L.P.
		 		 	535 Madison Avenue, 15th Floor
		 		 	New York, NY 10022
		 		 	Attn:	 	Matthew Kimble and Stephen Burnarzian
		 		 	Telephone:	 	(212) 878-3500
		 		 	Facsimile:	 	(212) 878-3545
			
		 		 	Steelhead Partners
		 		 	1301 First Avenue, Suite 201
		 		 	Seattle, WA 98101
		 		 	Attn:	 	J.D. Kritser and Carol Lokey
		 		 	Telephone:	 	(206) 689-2436
		 		 	Facsimile:	 	(206) 689-2451
			
		 		 	Paulson & Co., Inc.
		 		 	1251 Avenue of the Americas, 50th Floor
		 		 	New York, NY 10020
		 		 	Attn:	 	Ty Wallach
		 		 		 	Daniel B. Kamensky
		 		 	Telephone:	 	(212) 813-6811
		 		 	Facsimile:	 	(212) 977-9505
			
		 		 	Whitebox Advisors
		 		 	3033 Excelsior Boulevard, Suite 300
		 		 	Minneapolis, MN 55416
		 		 	Attn:	 	Pete Wiley
		 		 	Telephone:	 	(612) 253-6021
		 		 	Facsimile:	 	(612) 253-6151

  

 18 

							
		 		 	Barclays Capital
		 		 	Distressed & Special Situations
		 		 	745 Seventh Avenue
		 		 	New York, NY 10019
		 		 	Attn:	 	Andrew L. Chan
		 		 		 	Timothy Bass
		 		 	Telephone:	 	(212) 412-6704
		 		 	Facsimile:	 	[    ]
			
		 		 	JP Morgan Securities, Inc.
		 		 	Credit Trading
		 		 	383 Madison Ave, 37th floor
		 		 	New York, NY 10179
		 		 	Attn:	 	Jeffrey L. Panzo
		 		 	Telephone:	 	(212) 834-5857
		 		 	Facsimile:	 	(212) 270-4074
			
		 		 	Shearman & Sterling LLP
		 		 	599 Lexington Avenue
		 		 	New York, NY 10022
		 		 	Attn: 	 	Douglas Bartner
		 		 		 	Edmund M. Emrich
		 		 	Telephone:	 	(212) 848-4000
		 		 	Facsimile:	 	(212) 848-7179
			
		 		 	Kramer Levin Naftalis & Frankel LLP
		 		 	1177 Avenue of the Americas
		 		 	New York, NY 10036
		 		 	Attn:	 	John Bessonette
		 		 		 	Douglas H. Mannal
		 		 	Telephone:	 	(212) 715-9100
		 		 	Facsimile:	 	(212) 878-3545
			
		 		 	Kleinberg, Kaplan, Wolff & Cohen, P.C. 
		 		 	551 Fifth Avenue, 18th Floor
		 		 	New York, New York 10176
		 		 	Attn:	 	Philip S. Gross and Christopher P. Davis
		 		 	Telephone:	 	(212) 986-6000
		 		 	Facsimile:	 	(212) 986-8866
			
		 	iii.	 	Any notice given by delivery, mail or courier shall be effective when received. Any notice given by facsimile shall be effective upon oral or machine confirmation of
transmission.

  

 19 

 IN WITNESS WHEREOF, the Parties have entered into this Agreement on the day and year first above written.

  

			
	 ABITIBIBOWATER INC.

		
	 By:
	 	  

		
	 Title:
	 	  

[Signature Page to Plan Support Agreement] 
  

					
	 [INSERT ENTITY NAME HERE]

		
	 By:
	 	  

		 	 Name:

Title:
	 	
	
	 Claims in the Affected Unsecured Creditor

	 Classes of the CCAA Plan:

		
	  
	 	
	
	 Claims in Class 6 of the U.S. Plan:

		
	  
	 	
	
	 Other Claims:

		
	  
	 	

 Notwithstanding anything to the contrary in this Plan Support Agreement, this Agreement applies only to the
Credit Trading group of [_signing entity_] (the “Credit Trading Group”) and their ABH Claims in the aggregate principal amount(s) set forth below the signature of [_signing entity_], on behalf of, and with respect to, the Credit Trading
Group. Accordingly, the terms “Undersigned Holder” and “Party” for all purposes of this Agreement mean and refer to only the Credit Trading Group and such business units’ holdings of the ABH Claims in the principal amount
(s) set forth below the signature of [_signing entity_]. For the avoidance of doubt, this Agreement does not apply to (i) ABH Claims, securities, loans, other obligations or any other interests in the Company that may be held, acquired or
sold by, or any activities, services or businesses conducted or provided by, any other group or business unit within, or affiliate of, [_signing entity_], (ii) any credit facilities to which [_signing entity_] or any of its affiliates (“[_
affiliates defined term_]”) is a party in effect as of the date hereof, (iii) any new credit facility, amendment to an existing credit facility, or debt or equity securities offering involving [_affiliates defined term_], (iv) any
direct or indirect principal activities undertaken by any [_affiliate defined term_] entity engaged in the venture capital, private equity or mezzanine businesses, or portfolio companies in which they have investments, (v) any ordinary course
sales and trading activity, provided that ABH Claims owned as of the date of execution of this Plan Support Agreement shall be subject to the terms of the Plan Support Agreement, (vi) any [_affiliates defined term_] entity or business engaged
in providing private banking or investment management services or (vii) any ABH Claims or related claims that may be beneficially owned by non-affiliated clients of [_signing entity_] or any of its affiliates. 

[Signature Page to Plan Support Agreement] 
  

 EXHIBIT 1 

U.S. PLAN 
 See
Exhibit A to the Commitment Agreement. 

 EXHIBIT 2 

CCAA Plan 
 See
Exhibit B to the Commitment Agreement. 

 EXHIBIT 3 

FORM OF JOINDER 

This Joinder to the PLAN SUPPORT AGREEMENT (“Agreement”), dated as of July
[    ], 2010 between AbitibiBowater Inc. (“AbitibiBowater” or the “Company”) and the Undersigned
Holder4 (collectively, the “Plan Support
Parties”), is executed and delivered by                      (the “Joining Party”) as of
            , 2010. 
 1. Agreement to be Bound. The
Joining Party hereby agrees to be bound by all of the terms of the Agreement, attached to this Joinder as Annex 1 (as the same may be hereafter amended, restated or otherwise modified from time to time). The Joining Party shall hereafter be deemed
to be a “Plan Support Party” and a “Party” for all purposes under the Agreement. 
 2. Representations
and Warranties. With respect to the Note Claims set forth below and all related rights and causes of action arising out of or in connection with or otherwise relating to such Note Claims, the Joining Party hereby makes the representations and
warranties of the Plan Support Parties set forth in the Agreement to each other Party to the Agreement. 
 3. Governing
Law. This Joinder shall be governed by and construed in accordance with the internal laws of the State of New York. 
  

 

	4
	 Each capitalized term used herein but not otherwise defined shall have the meaning set forth in the Agreement. 

 EXHIBIT 4 

Ownership and Recovery Analysis 

			
	In re AbitibiBowater, Inc.	 	Exhibit 4 to Plan Support Agreement

Ownership Analysis - Summary (prepared as of May 24, 2010) 

Note: The Plans provide for a fixed percentage of equity in Reorganized ABH to be allocated to each Chapter 11 Debtor and CCAA Debtor (collectively, the
“Debtors”), for distribution to the unsecured creditors of each Debtor pursuant to the claims treatment provisions of the Plans. Based on the current claims estimates for each Debtor reflected in the claims distribution model prepared by
Blackstone, this chart illustrates the fixed percentages of equity in Reorganized ABH anticipated to be distributed to each Debtor and the allocation of equity to unsecured creditors of that Debtor. The current claims estimates incorporated in this
analysis are based on claims as of April 6, 2010. The current claims estimates (which include a 10% cushion on claims other than bond and note claims) exclude (i) modifications to the estimate of employee claims based upon claims asserted
in connection with the April 7, 2010 Claims Bar Date and (ii) any rejection damage claims that may be asserted for contract rejection claims arising after April 6, 2010. Further, the schedule does not reflect more recent claims
information filed by the Monitor after April 6, 2010. The Debtors reserve all rights with respect to the allowed amounts of all claims and actual claim amounts will vary from the estimates used to prepare this chart. Any changes to claims
estimates will impact the allocation of equity to unsecured creditors at each Debtor and the equity percentages described in this chart will be modified as claims against each Debtor are determined and allowed or proven. The percentage of New ABH
Common Stock is subject to Dilution as described in the Plans. 
  

																																											
	 	  	Total	 	 	ABH	 	 	BI	 	 	BNS	 	 	BCFPI	 	 	ACI	 	 	D-Corp	 
	 	  	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 
	 Unsecured
	  			  			 			  			 			  			 			  			 			  			 			  			 			  		
	 7.95% Notes
	  	$	620	  	12.61	% 	 	$	—  	  	—  	  	 	$	620	  	12.61	% 	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  
	 8.85% Debentures
	  	 	458	  	3.86	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	458	  	3.86	% 	 	 	—  	  	—  	  
	 8.375% Notes
	  	 	471	  	3.96	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	471	  	3.96	% 	 	 	—  	  	—  	  
	 6.5% Notes
	  	 	409	  	8.15	% 	 	 	—  	  	—  	  	 	 	409	  	8.15	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 8.55% Notes
	  	 	402	  	3.39	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	402	  	3.39	% 	 	 	—  	  	—  	  
	 8% Convertible Notes
	  	 	384	  	7.78	% 	 	 	384	  	0.12	% 	 	 	384	  	7.66	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 6% Notes
	  	 	357	  	3.01	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	357	  	3.01	% 	 	 	—  	  	—  	  
	 15.5% Exchange Notes
	  	 	305	  	12.55	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	305	  	4.57	% 	 	 	305	  	7.97	% 
	 8.5% Debentures
	  	 	254	  	2.14	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	254	  	2.14	% 	 	 	—  	  	—  	  
	 9% Debentures
	  	 	253	  	5.04	% 	 	 	—  	  	—  	  	 	 	253	  	5.04	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 7.5% Debentures
	  	 	260	  	2.19	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	260	  	2.19	% 	 	 	—  	  	—  	  
	 9.375% Debentures
	  	 	206	  	4.11	% 	 	 	—  	  	—  	  	 	 	206	  	4.11	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 7.75% Notes
	  	 	205	  	1.73	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	205	  	1.73	% 	 	 	—  	  	—  	  
	 0% Debentures
	  	 	11	  	0.08	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	11	  	0.08	% 	 	 	—  	  	—  	  
	 7.875% Notes
	  	 	8	  	0.33	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	8	  	0.33	% 	 	 	—  	  	—  	  
	 UDAG Loan
	  	 	5	  	0.03	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	5	  	0.03	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured Notes -
BI(1)
	  	 	503	  	10.03	% 	 	 	—  	  	—  	  	 	 	503	  	10.03	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured Notes -
BCFPI(2)
	  	 	209	  	3.15	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	209	  	3.15	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured Notes -
ACI(3)
	  	 	326	  	2.75	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	326	  	2.75	% 	 	 	—  	  	—  	  
	 Accounts Payable
	  	 	251	  	1.65	% 	 	 	15	  	0.00	% 	 	 	20	  	0.33	% 	 	 	6	  	0.07	% 	 	 	40	  	0.60	% 	 	 	164	  	0.61	% 	 	 	6	  	0.03	% 
	 Rejection Claims
	  	 	646	  	4.35	% 	 	 	36	  	0.01	% 	 	 	10	  	0.21	% 	 	 	2	  	0.03	% 	 	 	113	  	1.68	% 	 	 	373	  	1.34	% 	 	 	112	  	1.08	% 
	 Employee Claims
	  	 	297	  	3.08	% 	 	 	21	  	0.01	% 	 	 	68	  	1.35	% 	 	 	0	  	0.00	% 	 	 	91	  	1.36	% 	 	 	108	  	0.27	% 	 	 	10	  	0.09	% 
	 Other Unsecured Claims
	  	 	328	  	4.03	% 	 	 	11	  	0.00	% 	 	 	162	  	3.05	% 	 	 	13	  	0.19	% 	 	 	21	  	0.31	% 	 	 	93	  	0.26	% 	 	 	28	  	0.21	% 
		  			  			 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 Total
	  			  			 	$	466	  	0.15	% 	 	$	2,635	  	52.54	% 	 	$	26	  	0.33	% 	 	$	474	  	7.10	% 	 	$	3,795	  	30.49	% 	 	$	461	  	9.41	% 
		  			  			 			  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 

  

	(1)	Includes the following unsecured notes: 7.75% Recycling Facilities Revenue Bond, 9.5% Debentures, 7.4% Recycling Facilities Bond, 7.4% Pollution Control Bond, and
7.625% Recycling Facilities Bond and the Floating Rate Senior Notes. 

	(2)	Includes the following unsecured notes: 10.85% Debentures, 10.6% Unsecured Notes, 10.5% Unsecured Notes, 10.26% Unsecured Notes, and 10.625% Unsecured Notes.

	(3)	Includes the following unsecured notes: 7.4% Debentures, Unsecured Floating Rate Notes and EDC Letter of Credit Facility. 

 

			
	 The Blackstone Group
	 	1 of 3

			
	In re AbitibiBowater, Inc.	 	Exhibit 4 to Plan Support Agreement

Ownership Analysis - B-Side (perpared as of May 24, 2010) 

Note: The Plans provide for a fixed percentage of equity in Reorganized ABH to be allocated to each Chapter 11 Debtor and CCAA Debtor (collectively, the
“Debtors”), for distribution to the unsecured creditors of each Debtor pursuant to the claims treatment provisions of the Plans. Based on the current claims estimates for each Debtor reflected in the claims distribution model prepared by
Blackstone, this chart illustrates the fixed percentages of equity in Reorganized ABH anticipated to be distributed to each Debtor and the allocation of equity to unsecured creditors of that Debtor. The current claims estimates incorporated in this
analysis are based on claims as of April 6, 2010. The current claims estimates (which include a 10% cushion on claims other than bond and note claims) exclude (i) modifications to the estimate of employee claims based upon claims asserted
in connection with the April 7, 2010 Claims Bar Date and (ii) any rejection damage claims that may be asserted for contract rejection claims arising after April 6, 2010. Further, the schedule does not reflect more recent claims
information filed by the Monitor after April 6, 2010. The Debtors reserve all rights with respect to the allowed amounts of all claims and actual claim amounts will vary from the estimates used to prepare this chart. Any changes to claims
estimates will impact the allocation of equity to unsecured creditors at each Debtor and the equity percentages described in this chart will be modified as claims against each Debtor are determined and allowed or proven. The percentage of New ABH
Common Stock is subject to Dilution as described in the Plans. 
  

																																																																			
	 	  	ABH	 	 	BI	 	 	BNS	 	 	BCFPI	 
	 	  	ABH	 	 	BI	 	 	Bowater
America	 	 	BCFC	 	 	Remaining BI	 	 	Bowater
Alabama	 	 	Bowater
Newsprint
South Ops	 	 	Remaining
BNS	 	 	BCFPI	 	 	Bowater
Maritimes	 	 	Remaining
BCFPI	 
	 	  	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	  	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	  	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 	 	Claim	 	% 
of
New
ABH
Com-
mon
Stock	 
	 Unsecured
	  			 			 			 			 			 			 			 			 			 			 			  			 			 			 			 			 			  			 			 			 			 		
	 7.95% Notes
	  	$	—  	 	—  	  	 	$	620	 	12.37	% 	 	$	—  	 	—  	  	 	$	620	 	0.24	% 	 	$	—  	 	—  	  	 	$	—  	  	—  	  	 	$	—  	 	—  	  	 	$	—  	 	—  	  	 	$	—  	  	—  	  	 	$	—  	 	—  	  	 	$	—  	 	—  	  
	 8.85% Debentures
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 8.375% Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 6.5% Notes
	  	 	—  	 	—  	  	 	 	409	 	8.15	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 8.55% Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 8% Convertible Notes
	  	 	384	 	0.12	% 	 	 	384	 	7.66	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 6% Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 15.5% Exchange Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 8.5% Debentures
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 9% Debentures
	  	 	—  	 	—  	  	 	 	253	 	5.04	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 7.5% Debentures
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 9.375% Debentures
	  	 	—  	 	—  	  	 	 	206	 	4.11	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 7.75% Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 0% Debentures
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 7.875% Notes
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 UDAG Loan
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	5	 	0.03	% 	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 Other Unsecured Notes—BI(1)
	  	 	—  	 	—  	  	 	 	503	 	10.03	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 Other Unsecured Notes—BCF
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	209	  	3.15	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 Other Unsecured Notes—ACI(3
	  	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	—  	  	—  	  	 	 	—  	 	—  	  	 	 	—  	 	—  	  
	 Accounts Payable
	  	 	15	 	0.00	% 	 	 	16	 	0.31	% 	 	 	4	 	0.01	% 	 	 	0	 	—  	  	 	 	—  	 	—  	  	 	 	4	  	0.06	% 	 	 	1	 	0.01	% 	 	 	0	 	0.00	% 	 	 	39	  	0.59	% 	 	 	1	 	0.00	% 	 	 	—  	 	—  	  
	 Rejection Claims
	  	 	36	 	0.01	% 	 	 	10	 	0.20	% 	 	 	0	 	0.01	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	2	  	0.03	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	109	  	1.64	% 	 	 	4	 	0.03	% 	 	 	—  	 	—  	  
	 Employee Claims
	  	 	21	 	0.01	% 	 	 	68	 	1.35	% 	 	 	1	 	—  	  	 	 	0	 	—  	  	 	 	—  	 	—  	  	 	 	0	  	0.00	% 	 	 	—  	 	—  	  	 	 	—  	 	—  	  	 	 	90	  	1.35	% 	 	 	1	 	0.01	% 	 	 	—  	 	—  	  
	 Other Unsecured Claims
	  	 	11	 	0.00	% 	 	 	138	 	2.75	% 	 	 	17	 	0.31	% 	 	 	—  	 	—  	  	 	 	7	 	0.02	% 	 	 	11	  	0.18	% 	 	 	2	 	0.01	% 	 	 	—  	 	—  	  	 	 	21	  	0.31	% 	 	 	0	 	0.00	% 	 	 	0	 	0.00	% 
		  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total
	  	$	466	 	0.15	% 	 	$	2,605	 	51.97	% 	 	$	22	 	0.32	% 	 	$	620	 	0.24	% 	 	$	7	 	0.02	% 	 	$	17	  	0.27	% 	 	$	8	 	0.06	% 	 	$	0	 	0.00	% 	 	$	468	  	7.05	% 	 	$	5	 	0.05	% 	 	$	0	 	0.00	% 
		  			 	 	 	 			 	 	 	 			 	 	 	 			 	 	 	 			 	 	 	 			  	 	 	 			 	 	 	 			 	 	 	 			  	 	 	 			 	 	 	 			 	 	 

  

	(1)	Includes the following unsecured notes: 7.75% Recycling Facilities Revenue Bond, 9.5% Debentures, 7.4% Recycling Facilities Bond, 7.4% Pollution Control Bond, and
7.625% Recycling Facilities Bond and the Floating Rate Senior Notes. 

	(2)	Includes the following unsecured notes: 10.85% Debentures, 10.6% Unsecured Notes, 10.5% Unsecured Notes, 10.26% Unsecured Notes, and 10.625% Unsecured Notes.

	(3)	Includes the following unsecured notes: 7.4% Debentures, Unsecured Floating Rate Notes and EDC Letter of Credit Facility. 

 

			
	 The Blackstone Group
	 	2 of 3

			
	In re AbitibiBowater, Inc.	 	Exhibit 4 - Plan Support Agreement

Ownership Analysis - A-Side (prepared as of May 24, 2010) 

Note: The Plans provide for a fixed percentage of equity in Reorganized ABH to be allocated to each Chapter 11 Debtor and CCAA Debtor (collectively, the
“Debtors”), for distribution to the unsecured creditors of each Debtor pursuant to the claims treatment provisions of the Plans. Based on the current claims estimates for each Debtor reflected in the claims distribution model prepared by
Blackstone, this chart illustrates the fixed percentages of equity in Reorganized ABH anticipated to be distributed to each Debtor and the allocation of equity to unsecured creditors of that Debtor. The current claims estimates incorporated in this
analysis are based on claims as of April 6, 2010. The current claims estimates (which include a 10% cushion on claims other than bond and note claims) exclude (i) modifications to the estimate of employee claims based upon claims asserted
in connection with the April 7, 2010 Claims Bar Date and (ii) any rejection damage claims that may be asserted for contract rejection claims arising after April 6, 2010. Further, the schedule does not reflect more recent claims
information filed by the Monitor after April 6, 2010. The Debtors reserve all rights with respect to the allowed amounts of all claims and actual claim amounts will vary from the estimates used to prepare this chart. Any changes to claims
estimates will impact the allocation of equity to unsecured creditors at each Debtor and the equity percentages described in this chart will be modified as claims against each Debtor are determined and allowed or proven. The percentage of New ABH
Common Stock is subject to Dilution as described in the Plans. 
  

																																																	
	 	  	ACI	 	 	D-Corp	 
	 	  	ACI	 	 	ACCC	 	 	ACFLP	 	 	Remaining ACI	 	 	D-Corp	 	 	ACSC	 	 	ACC	 	 	Remaining
D-Corp	 
	 	  	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 	 	Claim	  	% of 
New
ABH
Common
Stock	 
	 Unsecured
	  			  			 			  			 			  			 			  			 			  			 			  			 			  			 			  		
	 7.95% Notes
	  	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  	 	$	—  	  	—  	  
	 8.85% Debentures
	  	 	458	  	0.64	% 	 	 	458	  	3.22	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 8.375% Notes
	  	 	471	  	0.66	% 	 	 	471	  	3.31	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 6.5% Notes
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 8.55% Notes
	  	 	402	  	0.56	% 	 	 	402	  	2.83	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 8% Convertible Notes
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 6% Notes
	  	 	357	  	0.50	% 	 	 	357	  	2.51	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 15.5% Exchange Notes
	  	 	305	  	0.42	% 	 	 	305	  	2.14	% 	 	 	—  	  	—  	  	 	 	305	  	2.01	% 	 	 	305	  	3.48	% 	 	 	305	  	2.93	% 	 	 	305	  	1.50	% 	 	 	305	  	0.07	% 
	 8.5% Debentures
	  	 	254	  	0.35	% 	 	 	254	  	1.79	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 9% Debentures
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 7.5% Debentures
	  	 	260	  	0.36	% 	 	 	260	  	1.83	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 9.375% Debentures
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 7.75% Notes
	  	 	205	  	0.29	% 	 	 	205	  	1.44	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 0% Debentures
	  	 	—  	  	—  	  	 	 	11	  	0.08	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 7.875% Notes
	  	 	8	  	—  	  	 	 	8	  	0.06	% 	 	 	8	  	0.27	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 UDAG Loan
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured
Notes—BI(1)
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured
Notes—BCFPI(2)
	  	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
	 Other Unsecured
Notes—ACI(3)
	  	 	326	  	0.45	% 	 	 	326	  	2.29	% 	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  	 	 	—  	  	—  	  
																	
	 Accounts Payable
	  	 	54	  	0.08	% 	 	 	60	  	0.42	% 	 	 	0	  	0.00	% 	 	 	51	  	0.12	% 	 	 	0	  	0.00	% 	 	 	2	  	0.02	% 	 	 	3	  	0.01	% 	 	 	2	  	0.00	% 
	 Rejection Claims
	  	 	226	  	0.32	% 	 	 	146	  	1.03	% 	 	 	—  	  	—  	  	 	 	0	  	0.00	% 	 	 	1	  	0.01	% 	 	 	111	  	1.07	% 	 	 	0	  	0.00	% 	 	 	—  	  	—  	  
	 Employee Claims
	  	 	85	  	0.12	% 	 	 	22	  	0.15	% 	 	 	—  	  	—  	  	 	 	1	  	0.00	% 	 	 	—  	  	—  	  	 	 	10	  	0.09	% 	 	 	0	  	0.00	% 	 	 	0	  	0.00	% 
	 Other Unsecured Claims
	  	 	70	  	0.10	% 	 	 	23	  	0.16	% 	 	 	—  	  	—  	  	 	 	1	  	0.00	% 	 	 	0	  	0.00	% 	 	 	19	  	0.19	% 	 	 	5	  	0.02	% 	 	 	3	  	0.00	% 
		  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 Total
	  	$	3,482	  	4.84	% 	 	$	3,307	  	23.25	% 	 	$	8	  	0.27	% 	 	$	357	  	2.13	% 	 	$	305	  	3.50	% 	 	$	447	  	4.31	% 	 	$	312	  	1.55	% 	 	$	310	  	0.08	% 
		  			  	 	 	 			  	 	 	 			  	 	 	 			  	 	 	 			  	 	 	 			  	 	 	 			  	 	 	 			  	 	 

  

	(1)	Includes the following unsecured notes: 7.75% Recycling Facilities Revenue Bond, 9.5% Debentures, 7.4% Recycling Facilities Bond, 7.4% Pollution Control Bond, and
7.625% Recycling Facilities Bond and the Floating Rate Senior Notes. 

	(2)	Includes the following unsecured notes: 10.85% Debentures, 10.6% Unsecured Notes, 10.5% Unsecured Notes, 10.26% Unsecured Notes, and 10.625% Unsecured Notes.

	(3)	Includes the following unsecured notes: 7.4% Debentures, Unsecured Floating Rate Notes and EDC Letter of Credit Facility. 

 

			
	 The Blackstone Group
	 	3 of 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]