Document:

Amendment No. 13 and Termination Agreement dated October 25, 2004

  
 Exhibit 10.49

  
 AMENDMENT NO. 13 AND TERMINATION AGREEMENT (this
“Amendment”), dated as of October 25, 2004, by and among PW EAGLE, INC., a Minnesota corporation (the “Company”) and the investors party to the Securities Purchase Agreement referred to below on the date hereof (the
“Investors”). 
  
 WHEREAS, the Company and the
Investors are parties to a Securities Purchase Agreement, dated as of September 20, 1999 (as amended, supplemented or otherwise modified through the date hereof, including pursuant to Amendments No.1 through No. 12, the “Purchase
Agreement”) pursuant to which the Investors purchased $32,500,000 principal amount of the Company’s senior subordinated notes; and 
  
 WHEREAS, the Company desires to pay the Investors $37,304,577 representing the unpaid principal balance, plus accrued but unpaid interest and applicable
prepayment premium such that all Obligations under the Notes and the Purchase Agreement are satisfied in full; 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Defined Terms. Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given to them in the Purchase
Agreement. 
  
 2. Termination of Agreement. The Investors
hereby agree that all provisions of the Purchase Agreement, including Section 12.2, are terminated and shall be of no further force and effect and that all Obligations of the Company under the Notes and the Purchase Agreement are satisfied in full;
provided, however, that each indemnity and expense reimbursement provision in the Notes and the Purchase Agreement shall survive and; provided, further, that to the extent an Obligor makes a payment or payments to the
Investors under the Notes or the Purchase Agreement, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party
under any bankruptcy, insolvency or similar state or United States federal law, common law or equitable cause, then, to the extent of such payment or repayment, the Obligation or part thereof intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been received by the Investors. 
  

 3. Agreement upon Amounts. The Investors and the Company hereby agree as follows: 
  
 (a) as of October 25, 2004, the aggregate unpaid principal
balance (including without limitation, the Deferred Interest Amount) of the Notes equals $36,306,158, 
  
 (b) as of October 25, 2004, the aggregate amount of unpaid, due and owing interest in respect of the Notes equals $635,358, and

  
 (c) as of October 25, 2004, the Applicable
Prepayment Premium in respect of the Notes being repaid equals $363,062. 
  
 4. Return of Notes; Further Assurances. The Investors agree to return to the Company all originally executed Notes and Subsidiary Guarantees and, upon written request by the Company, to execute such documents
and other instruments and take such further actions as may reasonably be required or desirable to carry out the provisions hereof and consummate the transactions contemplated hereby. 
  
 5. Effectiveness of this Amendment. This Amendment shall become effective on the date (the “Effective
Date”) when: 
  
 (a) all amounts set
forth in Section 3 above shall have been received by the Investors, 
  
 (b) the Company and the Investors shall have signed a counterpart hereof (whether the same or different counterparts), and 
  
 (c) the Company shall have paid all fees and expenses of O’Melveny & Myers LLP incurred by the Investors in connection with or
relating to the preparation, execution or delivery of this Amendment to the extent the amount thereof has been provided to the Company prior to the execution and delivery of this Amendment. 
  
 6. Mutual Release. 
  
 (a) The Company, on behalf of itself, its subsidiaries and
their respective successors, assigns, and other legal representatives, hereby, jointly and severally, absolutely, unconditionally and irrevocably releases, remises and forever discharges the Investors, their successors and assigns, and their
respective present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (the Investors and all such other parties being hereinafter referred to
collectively as the “Investor Releasees” and individually as an “Investor Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of
money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever (individually, a “Claim” and collectively, “Claims”) of every
name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which the Company, its subsidiaries, or any of their respective successors, assigns, or other legal representatives may now or hereafter own, 

  

 2 

 
hold, have or claim to have against the Investor Releasees or any of them for, upon, or by reason of any nature, cause or thing whatsoever which arises at
any time on or prior to the Effective Date, for or on account of, or in relation to, or in any way in connection with the Note Documents, as amended and supplemented through the Effective Date. 
  
 (b) Subject to the Company’s obligations pursuant to
Section 2 hereof, each of the Investors, on behalf of itself, its subsidiaries and its respective successors, assigns, and other legal representatives, hereby, releases, remises and forever discharges the Company, its successors and assigns, and its
present and former shareholders, affiliates, subsidiaries, directors, officers, employees, agents and other representatives (the Company and all such other parties being hereinafter referred to collectively as the “Company
Releasees” and individually as a “Company Releasee”), of and from all Claims of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which such Investors, or any of its successors,
assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Company Releasees or any of them for, upon, or by reason of any nature, cause or thing whatsoever which arises at any time on or prior to the
Effective Date, for or on account of, or in relation to the amount of principal, accrued interest, prepayment premiums, fees, costs and other expenses payable to the Investors prior to and including the date hereof. 
  
 (c) Except as set forth in Section 2 above, each of the
Investors and the Company, for itself and its representatives and assigns, understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any
action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 
  
 (d) Except as set forth in Section 2 above, each of the Investors and the Company, for itself and its representatives and assigns, agrees
that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the release set forth above. 
  
 (e) Except as set forth in Section 2 above, each of the
Investors and the Company, on behalf of itself, its subsidiaries and their respective successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, jointly and severally, covenants and agrees with each
Company Releasee or Investor Releasee, as the case may be, that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any Company Releasee or Investor Releasee, as the case may be, on the basis of any Claim released, remised
and discharged by such party pursuant to this Section 6. If the Company or its subsidiaries violates the foregoing covenant, the Company agrees to pay, in addition to such other damages as any Investor Releasee may sustain as a result of such
violation, all attorneys’ fees and costs incurred by any Investor 

  

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Releasee as a result of such violation. If an Investor or its representatives or assigns violates the foregoing covenant, such Investor agrees to pay, in
addition to such other damages as any Company Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Company Releasee as a result of such violation. 
  
 7. Miscellaneous. 
  
 (a) This Amendment may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Facsimile counterpart
signatures to this Amendment shall be acceptable and binding. 
  
 (b) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
  
 (c) The headings used herein are for convenience of
reference only and shall not affect the construction of, nor shall they be taken into consideration in interpreting, this Amendment. 
  
 * * * 
  
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 
  

 4 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this AMENDMENT NO. 13 AND
TERMINATION AGREEMENT to be duly executed and delivered as of the date first above written. 
  

			
	PW EAGLE, INC.
		
	By:	 	 /s/ Dobson West

	 	 	 Name: Dobson West

	 	 	 Title: Secretary

	
	J.P. MORGAN PARTNERS (23A SBIC), LLC
		
	By:	 	J.P. MORGAN PARTNERS (23A SBIC MANAGER), INC., Its Managing Member
		
	By:	 	 /s/ Richard Waters

	 	 	 Name: Richard Waters

	 	 	 Title:

	
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management, LLC as Investment Advisor
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Managing Director

	
	MASSMUTUAL CORPORATE INVESTORS
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Vice President

  

 S-1 

			
	The foregoing is executed on behalf of MassMutual Corporate Investors, organized under a Declaration of Trust, dated September 13, 1985, as amended from time to time. The obligations
of such Trust are not personally binding upon, nor shall resort to be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trust, but the Trust’s property only shall be bound.
	
	MASSMUTUAL PARTICIPATION INVESTORS
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Vice President

	
	The foregoing is executed on behalf of MassMutual Participation Investors, organized under a Declaration of Trust, dated April 7, 1988, as amended from time to time. The obligations
of such Trust are not binding upon, nor shall resort be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trust individually, but the Trust’s assets and property only shall be
bound.
	
	MASSMUTUAL CORPORATE VALUE PARTNERS LIMITED
		
	 By:
	 	Babson Capital Management, LLC under delegated authority from Massachusetts Mutual Life Insurance Company, as Investment Manager
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Managing Director

  

 S-2Omnibus Agreement and Waiver dated October 25, 2004

 Exhibit 10.50 
  
 OMNIBUS AMENDMENT AND WAIVER (this “Amendment”), dated as of October 25, 2004, by and among PW
EAGLE, INC., a Minnesota corporation (the “Company”) and the warrant holders party to the Warrant Agreement dated as of September 20, 1999 and to the Warrant Agreement dated as of March 14, 2003 referred to below on the date hereof
(the “Holders”). 
  
 WHEREAS, the Company and the
Holders are parties to a Warrant Agreement, dated as of September 20, 1999 and to a Warrant Agreement dated as of March 14, 2003 (collectively, the “Warrant Agreements”) pursuant to which the Holders were issued warrants to purchase shares
of Common Stock or Class B Common Stock of the Company; and 
  
 WHEREAS, the Company and the Holders are parties to a Securities Purchase Agreement, dated as of September 20, 1999 (as amended, supplemented or otherwise modified through the date hereof, including pursuant to Amendments No. 1 through No.
12, the “Purchase Agreement”) pursuant to which the Holders purchased $32,500,000 principal amount of the Company’s senior subordinated notes (the “Notes”); 
  
 WHEREAS, the Company desires to pay the Holders the unpaid principal balance
plus accrued but unpaid interest and applicable prepayment premium such that all Obligations under the Notes and the Purchase Agreement are satisfied in full prior to their Maturity; 
  
 WHEREAS, the Company has requested, and the Holders party hereto are willing (subject to the terms and conditions hereof),
to amend and waive certain provisions of the Warrant Agreements in exchange for payment of the Obligations and execution by PW Poly (as defined below) of that certain Put and Call Agreement of even date herewith, all as provided herein; 

 
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Defined Terms. 
  
 (a) Capitalized terms used and not otherwise defined in this
Amendment shall have the meanings given to them in the Warrant Agreements. 
  
 (b) Section 1.1 of the Warrant Agreements shall be amended by adding the following new definitions to read in their entireties as follows: 
  
 ““2004 Registration Rights Agreement” means that certain Registration Rights Agreement
dated on or about the date hereof between the Company and the holders of the 2004 Warrants.” 
  

 ““2004 Subordinated Notes” means collectively the senior
subordinated note in the original principal amount of $16,000,000 and the junior subordinated note in the original principal amount of $8,000,000 executed by the Company in favor of the purchasers thereof dated on or about the date hereof.”

  
 ““2004 Warrants” means
the Warrants issued under that certain Warrant Agreement dated on or about the date hereof between the Company and the holders of the 2004 Subordinated Notes.” 
  
 ““2004 Warrant Agreement” means that certain Warrant Agreement dated on or about the
date hereof between the Company and the holders of the 2004 Subordinated Notes.” 
  
 ““Permitted Spell Group” means Harry W. Spell, Bruce A. Richard and Richard W. Perkins.” 
  
 ““PW Poly Spinoff” means the
transaction consisting of the sale of certain of the outstanding shares of capital stock of USPoly Company f/k/a PW Poly Corp. (“PW Poly”) and the distribution of all of the remaining shares of capital stock of PW Poly or the cash received
from the sale of such shares to the shareholders and certain holders of warrants to purchase shares of the Company.” 
  
 ““Significant Transfer” means a Transfer of shares of Common Stock, taken together with all prior Transfers of
shares of Common Stock from and after October 25, 2004, equal to or in excess of ten percent (10%) of the aggregate number of shares of Common Stock held on October 25, 2004 by all members of the Spell Group.” 
  
 2. Amendment to Anti-Dilution Rights. Sections 5.8(g) of the Warrant
Agreements are hereby amended by striking the word “and” following the phrase “Class B Common Stock” within subsection (c) and by the addition of the following text immediately after the reference to “and are listed on
Schedule 2.4(g)” within subsection (d): 
  
 “, and (e)
the issuance of the 2004 Warrants or the issuance from time to time of shares of Common Stock upon the exercise of any of the 2004 Warrants.” 
  
 3. Waiver of Right of First Offer. The Holders hereby waive any and all rights of first offer pursuant to Sections 6.2 of the Warrant
Agreements relating to the issuance and sale of the 2004 Subordinated Notes and the 2004 Warrants, and any shares of Common Stock upon exercise of any of the 2004 Warrants. 
  

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 4. Amendment to Tag Along Rights. Sections 6.3(a) and (c) of the Warrant Agreements are hereby
amended in their entireties as follows: 
  
 “(a) Right to
Sell. 
  
 (i) With respect to any proposed
Transfer of Common Stock by William H. Spell (including without limitation, (i) any Transfer by his majority-controlled Affiliates or member of Family Group and (ii) any Transfer to the Company or any of its Subsidiaries, but in each case excluding
any Excluded Transaction), William H. Spell (or such majority-controlled Affiliate or Family Group member, as the case may be) shall have the obligation, and each Holder shall have the right, to require the proposed transferee to offer to purchase
from such Holder, at the same price per share (less, in the case of a purchase of Warrants, the Exercise Price) and upon the same terms and conditions of sale offered to William H. Spell (or such majority-controlled Affiliate or Family Group member,
as the case may be), up to a number of Warrant Shares (issued or represented by outstanding Warrants) equal to the product (rounded to the nearest whole number) obtained by multiplying (i) a fraction, the numerator of which is the number of shares
of Common Stock proposed to be transferred by William H. Spell (or such majority-controlled Affiliate or Family Group member, as the case may be) and the denominator of which is the total number of shares of Common Stock held by William H. Spell (or
such majority-controlled Affiliate or Family Group member, as the case may be), by (ii) the aggregate number of Warrant Shares (issued or represented by outstanding Warrants) then held by such Holder. At least 20 Business Days prior to any Transfer
of Common Stock (other than an Excluded Transaction) by William H. Spell (or such majority-controlled Affiliate or Family Group member, as the case may be), he (or such majority-controlled Affiliate or Family Group member, as the case may be) shall
provide notice to each Holder specifying (A) the maximum number of shares of Common Stock to be transferred, (B) the name and address of the proposed transferee, (C) the form of consideration and terms and conditions thereof, (D) the number of
shares which such Holder may require the proposed purchaser to purchase from it in accordance with this Section 6.3, and (E) a representation and warranty by him (or such majority-controlled Affiliate or Family Group member, as the case may be) that
the proposed transferee has been informed of the “tag-along” rights provided herein and that he will not Transfer shares unless such transferee has agreed to purchase all shares required to be purchased from the Holders hereunder. Any
Transfer of Common Stock by William H. Spell (or such majority-controlled Affiliate or Family Group member, as the case may be) shall not be consummated until (and shall be void ab initio unless) the provisions of this Section 6.3 shall have been
complied with. 
  
 (ii) With respect to any
proposed Significant Transfer of Common Stock by any member of the Permitted Spell Group (including without limitation, (i) any Significant Transfer by a majority-controlled Affiliate of such Person or any member of such Person’s Family Group
and (ii) any Significant Transfer to the Company or any of its Subsidiaries, but in each case excluding any Excluded 

  

 3 

 
Transaction), such member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the case may be) shall have the
obligation, and each Holder shall have the right, to require the proposed transferee to offer to purchase from such Holder, at the same price per share (less, in the case of a purchase of Warrants, the Exercise Price) and upon the same terms and
conditions of sale offered to such member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the case may be), up to a number of Warrant Shares (issued or represented by outstanding Warrants) equal to the
product (rounded to the nearest whole number) obtained by multiplying (i) a fraction, the numerator of which is the number of shares of Common Stock proposed to be transferred by such member of the Permitted Spell Group (or such majority-controlled
Affiliate or Family Group member, as the case may be) and the denominator of which is the total number of shares of Common Stock held by such member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the
case may be), by (ii) the aggregate number of Warrant Shares (issued or represented by outstanding Warrants) then held by such Holder. At least 20 Business Days prior to any Significant Transfer of Common Stock (other than an Excluded Transaction)
by any member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the case may be), such member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the case may
be) shall provide notice to each Holder specifying (A) the maximum number of shares of Common Stock to be transferred, (B) the name and address of the proposed transferee, (C) the form of consideration and terms and conditions thereof, (D) the
number of shares which such Holder may require the proposed purchaser to purchase from it in accordance with this Section 6.3, and (E) a representation and warranty by such member of the Permitted Spell Group (or such majority-controlled Affiliate
or Family Group member, as the case may be) that the proposed transferee has been informed of the “tag-along” rights provided herein and that such member of the Permitted Spell Group will not Transfer shares unless such transferee has
agreed to purchase all shares required to be purchased from the Holders hereunder. Any Significant Transfer of Common Stock by any member of the Permitted Spell Group (or such majority-controlled Affiliate or Family Group member, as the case may be)
shall not be consummated until (and shall be void ab initio unless) the provisions of this Section 6.3 shall have been complied with.” 
  
 “(c) Additional Sales. 
  
 (i) If at any time prior to a proposed Transfer, William H. Spell wishes to Transfer a greater number of shares than that originally
proposed, he shall notify each Holder immediately of the additional number of shares being proposed for Transfer. Each Holder may require the proposed transferee to purchase from such Holder a number of additional Warrant Shares (issued or
represented by outstanding Warrants) determined in accordance with Section 6.3(a)(i) above, but based upon the number of additional shares the 

  

 4 

 
proposed transferee desires to purchase. The additional tag-along rights provided by this Section 6.3(c)(i) shall be exercised by any Holder within ten
Business Days following the date of the giving of the supplementary notice by William H. Spell by delivery of written notice indicating its desire to exercise its additional rights under this Section 6.3(c)(i) and the number of shares such Holder
wishes to Transfer, if less than the number which such Holder is entitled to Transfer under Section 6.3(a)(i) and this Section 6.3(c)(i). 
  
 (ii) Additional Sales. If at any time prior to a proposed Significant Transfer such member of the Permitted Spell Group wishes to
Transfer a greater number of shares than that originally proposed, such member of the Permitted Spell Group shall notify each Holder immediately of the additional number of shares being proposed for Transfer. Each Holder may require the proposed
transferee to purchase from such Holder a number of additional Warrant Shares (issued or represented by outstanding Warrants) determined in accordance with Section 6.3(a)(ii) above, but based upon the number of additional shares the proposed
transferee desires to purchase. The additional tag-along rights provided by this Section 6.3(c)(ii) shall be exercised by any Holder within ten Business Days following the date of the giving of the supplementary notice by such member of the
Permitted Spell Group by delivery of written notice indicating its desire to exercise its additional rights under this Section 6.3(c)(ii) and the number of shares such Holder wishes to Transfer, if less than the number which such Holder is entitled
to Transfer under Section 6.3(a)(ii) and this Section 6.3(c)(ii).” 
  
 5. Amendment to Financial Statements. Sections 7.2 of the Warrant Agreements are hereby amended in their entireties as follows: “7.2 Intentionally Omitted.” 
  
 6. Amendment to Information Rights. Sections 7.3 of the Warrant Agreements are hereby amended to provide that the
rights available pursuant to such Sections shall be available to the MassMutual Holders. The Chase Holders hereby waive all rights from and after the date hereof pursuant to Sections 7.3 of the Warrant Agreements. 
  
 7. Amendment to Redemptions. Sections 7.7 of the Warrant Agreements
are hereby amended by striking the word “and” following the phrase “in connection therewith;” within subsection (ii) and by the addition of the following text immediately after the reference to “other officers, employees and
directors” within subsection (iii): 
  
 “(iv) the redemption or repurchase of the 2004 Warrants or of any of the 366,651 shares of Capital Stock issuable upon the exercise of any of the 2004 Warrants (subject to adjustment as provided in the 2004 Warrants as in effect on the
Effective Date) pursuant to the provisions of Section 6.4 under the 2004 Warrant Agreement; and 
  
 (v) the PW Poly Spinoff to the extent the requirements of Section 6.1 are satisfied in connection therewith.” 
  

 5 

 8. Listing of Warrant Shares. New Sections 7.10 are added to the Warrant Agreements as follows:

  
 “7.10 Listing of Warrant
Shares. 
  
 The Company shall, as
promptly as practicable after the Closing, secure the listing of all of the Warrant Shares upon each securities exchange and automated quotation system (including without limitation the NASDAQ National Market), if any, upon which shares of Common
Stock of the Company are then listed (subject to official notice of issuance) and shall maintain, so long as any other share of Common Stock shall be so listed, such listing of all Warrant Shares. The Company shall use its best efforts to maintain
the Common Stock’s listing on either the NASDAQ National Market, a national securities exchange or other national market or interdealer quotation system (including, without limitation, the NADSAQ Small-Cap Market and the OTC Bulletin Board)
unless the Board determines it is not in the best interests of the Company and its shareholders to maintain any such listing. Upon the request of any Holder, the Company shall provide such Holder, promptly following receipt thereof, with copies of
any notice it receives from the NASDAQ National Market or any other securities exchange or other market or interdealer quotation system regarding the continued eligibility of the Common Stock for listing on such market, securities exchange or
system. The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 7.10.” 
  
 9. Effectiveness of this Amendment. This Amendment shall become effective on the Effective Date (as defined in the Amendment No. 13 and Termination
Agreement in respect of the Securities Purchase Agreement). 
  
 10. Miscellaneous. 
  
 (a) This
Amendment is limited as specified and shall not constitute an amendment, modification or waiver of any other provision of the Warrant Agreements. 
  
 (b) This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of
which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Facsimile counterpart signatures to this Amendment shall be acceptable and binding. 
  
 (c) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
  
 (d) The headings used herein are for convenience of reference only and shall not affect the construction of, nor shall they be taken into
consideration in interpreting, this Amendment. 
  

 6 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this OMNIBUS AMENDMENT AND
WAIVER to be duly executed and delivered as of the date first above written. 
  

			
	PW EAGLE, INC.
		
	By:	 	 /s/ Dobson West

	 	 	 Name: Dobson West

	 	 	 Title: Secretary

	
	J.P. MORGAN PARTNERS (23A SBIC), LLC
		
	By:	 	J.P. MORGAN PARTNERS (23A SBIC MANAGER), INC., Its Managing Member
		
	By:	 	 /s/ Richard Waters

	 	 	 Name: Richard Waters

	 	 	 Title:

	
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management, LLC as Investment Advisor
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Managing Director

	
	MASSMUTUAL CORPORATE INVESTORS
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Vice President

  

 S-1 
  
 Signature page to Omnibus Amendment and Waiver 

			
	The foregoing is executed on behalf of MassMutual Corporate Investors, organized under a Declaration of Trust, dated September 13, 1985, as amended from time to time. The obligations
of such Trust are not personally binding upon, nor shall resort to be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trust, but the Trust’s property only shall be bound.
	
	MASSMUTUAL PARTICIPATION INVESTORS
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Vice President

	
	The foregoing is executed on behalf of MassMutual Corporate Investors, organized under a Declaration of Trust, dated September 13, 1985, as amended from time to time. The obligations
of such Trust are not personally binding upon, nor shall resort to be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trust, but the Trust’s property only shall be bound.
	
	MASSMUTUAL CORPORATE VALUE PARTNERS LIMITED
		
	 By:
	 	Babson Capital Management, LLC under delegated authority from Massachusetts Mutual Life Insurance Company, as Investment Manager
		
	By:	 	 /s/ Charles C. McCobb, Jr.

	 	 	 Name: Charles C. McCobb, Jr.

	 	 	 Title: Managing Director

  

 S-2 
  
 Signature page to Omnibus Amendment and Waiver

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