Document:

Warrant issued to Adizes USA

 Exhibit 10.1 
  
 THE SECURITIES REPRESENTED BY THIS WARRANT OR ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER EITHER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE DISTRIBUTED FOR VALUE UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND SUCH LAWS COVERING
SUCH SECURITIES, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT, OFFER, PLEDGE OR OTHER DISTRIBUTION FOR VALUE IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS
OF SUCH ACT AND SUCH LAWS. 
  
 WARRANT 
  
 TO PURCHASE 12,000 SHARES OF COMMON STOCK 
 OF 
 PW Eagle, Inc. 
  
 THIS CERTIFIES THAT, for good and valuable consideration, Adizes USA (the
“Buyer”) is entitled to subscribe for and purchase from PW Eagle, Inc., a Minnesota corporation (the “Company”), at any time after the date hereof up to and including 5:00 p.m. Minneapolis, Minnesota time on August 1, 2015 (the
“Expiration Date”), Twelve Thousand (12,000) fully paid and nonassessable shares of the Common Stock of the Company at the price of $0.01 per share (the “Warrant Exercise Price”), subject to the antidilution provisions of this
Warrant. The shares which may be acquired upon exercise of this Warrant are referred to herein as the “Warrant Shares.” As used herein, the term “Holder” means the Buyer, any party who acquires all or a part of this Warrant as a
registered transferee of the Buyer, or any record holder or holders of the Warrant Shares issued upon exercise, whether in whole or in part, of the Warrant. As used herein, the term “Common Stock” means and includes the Company’s
presently authorized common stock $.01 par value, and shall also include any capital stock of any class of the Company hereafter authorized which shall not be limited to a fixed sum or percentage in respect of the rights of the Holders thereof to
participate in dividends or in the distribution of assets upon the voluntary or involuntary liquidation, dissolution, or winding up of the Company. 
  
 This Warrant is subject to the following provisions, terms and conditions: 
  
 1. Exercise; Transferability. Subject to the provisions of Section 3 hereof, the rights represented by this Warrant
may be exercised by the Holder hereof, in whole or in part (but not as to a fractional share of Common Stock), by written notice of exercise (in the form attached hereto) delivered to the Company at the principal office of the Company prior to the
Expiration Date and accompanied or preceded by the surrender of this Warrant along with a check in payment of the Warrant Exercise Price for such shares. 

 2. Exchange and Replacement. Subject to Sections 1 and 8 hereof, this Warrant is exchangeable upon
the surrender hereof by the Holder to the Company at its office for new Warrants of like tenor and date representing in the aggregate the right to purchase the number of Warrant Shares purchasable hereunder, each of such new Warrants to represent
the right to purchase such number of Warrant Shares (not to exceed the aggregate total number purchasable hereunder) as shall be designated by the Holder at the time of such surrender. Upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction, or mutilation of this Warrant, and, in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender and cancellation of this Warrant, if mutilated, the Company
will make and deliver a new Warrant of like tenor, in lieu of this Warrant; provided, however, that if the Buyer shall be such Holder, an agreement of indemnity by such Holder shall be sufficient for all purposes of this Section 2. This Warrant
shall be promptly canceled by the Company upon the surrender hereof in connection with any exchange or replacement. The Company shall pay all expenses, taxes (other than stock transfer taxes), and other charges payable in connection with the
preparation, execution, and delivery of Warrants pursuant to this Section 2. 
  
 3. Issuance of the Warrant Shares. 
  
 (a) The Company agrees that the shares of Common Stock purchased hereby shall be and are deemed to be issued to the Holder as of the close of business on the date on which this Warrant shall have been surrendered for
exercise and the payment made for such Warrant Shares as aforesaid. Subject to the provisions of the next section, certificates for the Warrant Shares so purchased shall be delivered to the Holder within a reasonable time, not exceeding thirty (30)
days after the rights represented by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant representing the right to purchase the number of Warrant Shares, if any, with respect to which this Warrant shall not
then have been exercised shall also be delivered to the Holder within such time. 
  
 (b) Notwithstanding the foregoing, however, the Company shall not be required to deliver any certificate for Warrant Shares upon exercise of this Warrant except in accordance with exemptions from the applicable
securities registration requirements or registrations under applicable securities laws. Such Holder shall also provide the Company with written representations from the Holder and the proposed transferee satisfactory to the Company regarding the
transfer or, at the election of the Company, an opinion of counsel reasonably satisfactory to the Company to the effect that the proposed transfer of this Warrant or disposition of shares may be effected without registration or qualification (under
any Federal or State law) of this Warrant or the Warrant Shares. Upon receipt of such written notice and either such representations or opinion by the Company, such Holder shall be entitled to transfer this Warrant, or to exercise this Warrant in
accordance with its terms and dispose of the Warrant Shares, all in accordance with the terms of the notice delivered by such Holder to the Company, provided that an appropriate legend, if any, respecting the aforesaid restrictions on transfer and
disposition may be endorsed on this Warrant or the certificates for the Warrant Shares. Nothing 
  

 2 

 herein, however, shall obligate the Company to effect registration under federal or state securities laws. The Holder
agrees to execute such documents and make such representations, warranties, and agreements as may be required solely to comply with the exemption relied upon by the Company, or the registration made, for the issuance of the Warrant Shares.

  
 4. Covenants of the Company. The Company covenants and
agrees that all Warrant Shares will, upon issuance, be duly authorized and issued, fully paid, nonassessable, and free from all taxes, liens, and charges with respect to the issue thereof except for all taxes, liens and charges imposed by the
Holder. The Company further covenants and agrees that during the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved for the purpose of issue or transfer upon
exercise of the subscription rights evidenced by this Warrant a sufficient number of shares of Common Stock to provide for the exercise of the rights represented by this Warrant. 
  
 5. Capital Reorganization, Capital Reclassifications, Merger. In case of any consolidation or merger to which the
Company is a party other than a merger or consolidation in which the Company is the continuing corporation, or in case of any sale of all or substantially all of the assets of the Company, or in the case of any statutory exchange of securities with
another corporation (including any exchange effected in connection with a merger of a third corporation into the Company) (any of which shall hereinafter be referred to as a “Sale Event”), that shall be effected in such a way that holders
of Common Stock shall be entitled to receive stock, securities or assets, including cash, with respect to or in exchange for shares of Common Stock (such stock, securities or assets, including any cash received, being hereinafter referred to as
“Substituted Property”) with respect to or in exchange for such Common Stock, then, the Holder hereof shall be required to surrender this Warrant and to receive upon the basis and upon the terms and conditions specified herein and in lieu
of the Warrant Shares immediately theretofore purchasable and receivable upon the exercise of this Warrant, such Substituted Property as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Common Stock
equal to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of this Warrant had such reorganization, reclassification, consolidation, merger or sale not taken place, less the aggregate Exercise
Price for all Warrant Shares. 
  
 6. Minimum Consideration Upon
Sale Event. In the case of any Sale Event prior to the Expiration Date and pursuant to which the Holder is entitled to receive Substituted Property, if such Substituted Property has an aggregate fair market value of less than $300,000, the
Company shall pay to the Holder the difference between the value of the Substituted Property and $300,000, less the Exercise Price. In the event any consideration received by the Holder consists of the stock of a publicly traded company traded on
any stock exchange or national market system for which price quotations are available, the fair market value of any such stock shall be the average of the closing sale price of such stock during the twenty-one (21) business day period immediately
preceding the Sale Event. In the event any consideration received by the Holder consists of any other type of stock or asset, the fair market value of such property shall be determined by the Board of Directors of the Company. If the Substituted
Property is all cash, any payment owing by the Company pursuant to this Section shall be made in cash by check or 
  

 3 

 wire transfer within twenty business days of the Sale Event. If the Substituted Property consists of any non-cash
consideration for which board determination of value is required, any payment owing by the Company pursuant to this Section shall be made within twenty business days of determination of such value. 
  
 7. No Voting Rights. This Warrant shall not entitle the Holder to any
voting rights or other rights as a shareholder of the Company. 
  
 8. Notice of Transfer of Warrant or Resale of the Warrant Shares. 
  
 (a) Subject to the sale, assignment, hypothecation, or other transfer restrictions set forth in Section 1 hereof, the Holder, by acceptance hereof, agrees to give written notice to the Company before transferring this
Warrant or transferring any Warrant Shares of such Holder’s intention to do so, describing briefly the manner of any proposed transfer. Promptly upon receiving such written notice, the Company shall present copies thereof to the Company’s
counsel and to counsel to the original purchaser of this Warrant. If in the opinion of each such counsel the proposed transfer may be effected without registration or qualification (under any federal or state securities laws), the Company, as
promptly as practicable, shall notify the Holder of such opinion, whereupon the Holder shall be entitled to transfer this Warrant or to dispose of Warrant Shares received upon the previous exercise of this Warrant, all in accordance with the terms
of the notice delivered by the Holder to the Company; provided that an appropriate legend may be endorsed on this Warrant or the certificates for such Warrant Shares respecting restrictions upon transfer thereof necessary or advisable in the opinion
of counsel to the Company and satisfactory to the Company to prevent further transfers which would be in violation of Section 5 of the Securities Act of 1933, as amended (the “1933 Act”), and applicable state securities laws; and provided
further that the Holder and prospective transferee or purchaser shall execute such documents and make such representations, warranties, and agreements as may be required solely to comply with the exemptions relied upon by the Company for the
transfer or disposition of the Warrant or Warrant Shares. 
  
 (b)
If in the opinion of either of the counsel referred to in this Section 8, the proposed transfer or disposition of this Warrant or such Warrant Shares described in the written notice given pursuant to this Section 8 may not be effected without
registration or qualification of this Warrant or such Warrant Shares the Company shall promptly give written notice thereof to the Holder, and the Holder will limit its activities in respect to such as, in the opinion of both such counsel, are
permitted by law. 
  
 9. Fractional Shares. Fractional
shares shall not be issued upon the exercise of this Warrant, but in any case where the Holder would, except for the provisions of this Section, be entitled under the terms hereof to receive a fractional share, the Company shall, upon the exercise
of this Warrant for the largest number of whole shares then called for, pay a sum in cash equal to the sum of (a) the excess, if any, of the fair market value, as reasonably determined by the Company’s Board of Directors, of such fractional
share over the proportional part of the Warrant Exercise Price represented by such fractional share, plus (b) the proportional part of the Warrant Exercise Price represented by such fractional share. 
  

 4 

 10. No Registration Rights. The Holder of this Warrant shall have no registration rights with
respect to the Warrant Shares. 
  
 11. Miscellaneous.
Whenever reference is made herein to the issue or sale of shares of Common Stock, the term “Common Stock” shall include any stock of any class of the Company other than preferred stock with a fixed limit on dividends and a fixed amount
payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company. 
  
 The Company will not, by amendment of its Articles of Incorporation or through reorganization, consolidation, merger, dissolution or sale of assets, or by
any other voluntary act or deed, avoid or seek to avoid the observance or performance of any of the covenants, stipulations or conditions to be observed or performed hereunder by the Company, but will, at all times in good faith, assist, insofar as
it is able, in the carrying out of all provisions hereof and in the taking of all other action which may be necessary in order to protect the rights of the Holder hereof against dilution. 
  
 The representations, warranties and agreements herein contained shall survive the exercise of this Warrant. References to
the “holder of” include the immediate holder of shares purchased on the exercise of this Warrant, and the word “holder” shall include the plural thereof. This Warrant shall be interpreted under the laws of the State of Minnesota.

  
 All shares of Common Stock or other securities issued upon the
exercise of the Warrant shall be validly issued, fully paid and non-assessable, and the Company will pay all taxes due and payable by the issuer in respect of the issuance thereof. 
  
 Notwithstanding anything contained herein to the contrary, the holder of this Warrant shall not be deemed a Shareholder of
the Company for any purpose whatsoever until and unless this Warrant is duly exercised. 
  
 [remainder of page intentionally left blank] 
  

 5 

 IN WITNESS WHEREOF, PW Eagle, Inc. has caused this Warrant to be signed by its duly authorized officer
and this Warrant to be dated September 30, 2005. 
  

			
	 “Company”
  

	 PW Eagle, Inc.
  

	 By
	 	 /s/ Scott Long

	 Its
	 	 Chief Financial Officer

  

 6 

 To: PW Eagle, INC. 
  

			
	NOTICE OF EXERCISE OF WARRANT —	  	To Be Executed by the Registered Holder in Order to Exercise the Warrant

  
 The undersigned hereby irrevocably
elects to exercise the attached Warrant to purchase for cash,                          of the shares issuable upon the
exercise of such Warrant, and requests that certificates for such shares (together with a new Warrant to purchase the number of shares, if any, with respect to which this Warrant is not exercised) shall be issued in the name of 
  

			
	 	 	  

	 	 	 (Print Name)

	 Please insert social security
 or other identifying number
 of registered Holder of
 certificate
(                        )
	 	 Address:

	 	 	  

	 	 	  

	 Dated:
                        
	 	 
	 	 	 Signature*

  
 *The signature on the Notice of
Exercise of Warrant must correspond to the name as written upon the face of the Warrant in every particular without alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity,
PLEASE indicate your position(s) and title(s) with such entity. 
  

 7 

 ASSIGNMENT FORM 
  
 To be signed only upon authorized transfer of Warrants. 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto
                                     the right to purchase the
securities of PW Eagle, Inc. to which the within Warrant relates and appoints
                            , attorney, to transfer said right on the books of PW Eagle, Inc
with full power of substitution in the premises. 
  

			
	 Dated:
                        
	 	  

	 	 	             (Signature)
  

	 	 	             Address:

	 	 	  

	 	 	  

  
 #3190874\1 
  

 8Second Amendment to Fourth Amended and Restated Loan and Security Agreement

 Exhibit 10.2 
  
 SECOND AMENDMENT TO FOURTH AMENDED 
 AND RESTATED LOAN AND SECURITY AGREEMENT 
 AND FIRST AMENDMENT TO SUBORDINATION
AGREEMENT 
  
 THIS SECOND AMENDMENT TO FOURTH AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT AND FIRST AMENDMENT TO SUBORDINATION AGREEMENT (“Amendment”) is made as of the 30th day of September, 2005 by and among PW Eagle, Inc., a Minnesota corporation (“Borrower”), the lenders who
are signatories hereto (“Lenders”), Bank of America, N.A., a national banking association (“B of A”), as successor-in-interest to Fleet Capital Corporation, as agent for Lenders hereunder (B of A, in such capacity, being
“Agent”) and Churchill Capital Partners IV, L.P., a Delaware limited partnership (“Creditor”). 
  
 WITNESSETH: 
  
 WHEREAS, Borrower, Fleet Capital Corporation, Agent’s predecessor-in-interest, and Lenders entered into a certain Fourth Amended and Restated Loan and Security Agreement dated as of October 25, 2004, as amended by a certain First
Amendment to Fourth Amended and Restated Loan and Security Agreement dated as of March 15, 2005, by and among Borrower, Fleet Capital Corporation, Agent’s predecessor-in-interest, and Lenders (said Fourth Amended and Restated Loan and Security
Agreement, as so amended, is hereinafter referred to as the “Loan Agreement”); 
  
 WHEREAS, Fleet Capital Corporation, Agent’s predecessor-in-interest, and Creditor entered into a certain Subordination Agreement dated as of October 24, 2004 (said Subordination Agreement is hereinafter referred
to as the “2004 Subordination Agreement”); 
  
 WHEREAS,
Borrower desires to amend and modify certain provisions of the Loan Agreement and, subject to the terms hereof, Agent and Lenders are willing to agree to such amendments and modifications; and 
  
 WHEREAS, Creditor and Agent desire to amend and modify certain provisions of
the 2004 Subordination Agreement; 
  
 NOW THEREFORE, in
consideration of the premises, the mutual covenants and agreements herein contained, and any extension of credit heretofore, now or hereafter made by Agent and Lenders to Borrower, the parties hereto hereby agree as follows: 
  
 1. Definitions. All capitalized terms used herein without definition
shall have the meaning given to them in the Loan Agreement and/or the Subordination Agreement, as applicable. 
  
 2. 2004 Subordinated Notes. The provisions of the Loan Agreement (including, without limitation, subsection 8.2.6) and/or the 2004 Subordination
Agreement (including, without limitation, Section 3) notwithstanding, commencing September 30, 2005, Borrower may 

 elect to pay in cash the full amount of interest owing on September 30, 2005, and the last day of each month thereafter
so long as, after giving effect to any such cash interest payment, (w) the Fixed Charge Coverage Ratio for the most recently ended twelve month period (not including the month of the interest payment due date) equaled or exceeded 1.25 to 1, (x)
Availability equals or exceeds $20,000,000, (y) the per annum interest rate so paid in cash does not exceed 19% for the Senior Subordinated Notes and 22.5% for the Junior Subordinated Notes and (z) no Standstill Period is in effect. 
  
 3. Miscellaneous. 
  
 (a) This Amendment is limited as specified and shall not constitute an
amendment, modification or waiver of any other provision of the Loan Agreement, any other Loan Document or the 2004 Subordination Agreement. 
  
 (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. 
  
 4. Continuing Effect. Except as otherwise specifically set out herein, the provisions of the Loan Agreement and the 2004 Subordination Agreement
(including, without limitation, subsection 8.2.6 of the Loan Agreement and Section 3 of the Subordination Agreement) shall remain in full force and effect. 
  
 (Signature Page Follows) 
  

 2 

 (Signature Page to Amendment) 
  
 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year specified at the beginning hereof.

  

					
	 PW EAGLE, INC., as Borrower
  

	 By:
	 	     /s/ Dobson West

	 	 	 Name:
	 	 Dobson West

	 	 	 Title:
	 	 Secretary

	  
 BANK OF AMERICA,
N.A., as successor-in-
 interest to Fleet Capital Corporation, as Agent and as
 a Lender
  

	 By:
	 	     /s/ Brian Conole

	 	 	 Name:
	 	 Brian Conole

	 	 	 Title:
	 	 Senior Vice President

	  
 WELLS FARGO
BUSINESS CREDIT, INC., as a
 Lender
  

	 By:
	 	     /s/ Mona M. Krueger

	 	 	 Name:
	 	 Mona M. Krueger

	 	 	 Title:
	 	 Vice President

	  
 The CIT
GROUP/BUSINESS CREDIT, INC., as a
 Lender
  

	 By:
	 	     /s/ Jack A. Myers

	 	 	 Name:
	 	 Jack A. Myers

	 	 	 Title:
	 	 Vice President

  

 3 

					
	 CHURCHILL CAPITAL PARTNERS IV, L.P., a
 Delaware limited partnership, as Creditor
  

	 By:
	 	 Churchill Capital IV, L.L.C., its General Partner

	 By:
	 	 Churchill Capital Inc., as Managing Agent

	 	 	 
	 By:
	 	     /s/ Mark R. McDonald

	 	 	 Name:
	 	 Mark R. McDonald

	 	 	 Title:
	 	 Partner

  
 #3191206\1 
  

 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]