Document:

Security Agreement

 Exhibit 4.3 
 Notwithstanding anything herein to the contrary, the liens and security interests granted to the Agent pursuant to this Agreement and the exercise of any right or remedy by the Agent hereunder, are subject to the
provisions of the Intercreditor Agreement dated as of March 10, 2009 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Agent, as ABL Agent, The Bank of New York
Mellon Trust Company, N.A., as Trustee, as Note Agent and the Grantors (as defined in the Intercreditor Agreement) from time to time party thereto. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this
Agreement, the terms of the Intercreditor Agreement shall govern and control. 
 SECURITY AGREEMENT 
 THIS SECURITY AGREEMENT dated as of March 10, 2009 (as amended, modified, supplemented or restated from time to time, this “Agreement”),
is made by and among LOUISIANA-PACIFIC CORPORATION, a Delaware corporation (the “Company”), GREENSTONE INDUSTRIES, INC., a Delaware corporation, KETCHIKAN PULP COMPANY, a Washington corporation, LOUISIANA-PACIFIC INTERNATIONAL, INC., an
Oregon corporation, LPS CORPORATION, an Oregon corporation (each a “Grantor” and together with the Company, the “Grantors”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Agent under the Indenture (together
with its successors in such capacity, “Agent”). 
 W I T N E S S E T H: 
 WHEREAS, the Grantors have entered into that certain Indenture, dated as of March 10, 2009 (as amended, restated, supplemented or otherwise modified
from time to time, the “Indenture”), by and among the Grantors and The Bank of New York Mellon Trust Company, N.A., as trustee (together with its successors in such capacity, the “Trustee”), on behalf of the holders (the
“Noteholders”) of the Notes (as defined below) pursuant to which the Company is issuing $375,000,000 aggregate principal amount at maturity of its 13% Senior Secured Notes due 2017 (the “Notes”), which are guaranteed by each of
the other Grantors; 
 WHEREAS, the Trustee has been appointed to serve as Collateral Agent under the Indenture and in such capacity, to
enter into this Agreement; 
 WHEREAS, following the date hereof, the Grantors may incur Permitted Additional Pari Passu Obligations (as
defined in the Indenture) which are secured equally and ratably with the Grantors’ obligations in respect of the Notes in accordance with Section 8.9 of this Agreement; 
 WHEREAS, each Grantor will receive substantial benefits from the execution, delivery and performance of the obligations under the Indenture, the Notes
and any Additional Pari Passu Agreement and each is, therefore, willing to enter into this Agreement; 
 WHEREAS, the Grantors are executing
and delivering this Agreement pursuant to the terms of the Indenture to induce the Agent to enter into the Indenture and induce the Noteholders to purchase the Notes; and 

 WHEREAS, this Agreement is made by the Grantors in favor of the Agent for the benefit of the Secured
Parties to secure the payment and performance in full when due of the Obligations; 
 NOW, THEREFORE, in consideration of the foregoing
premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor and the Agent hereby agree as follows: 
 SECTION 1. DEFINITIONS 
 1.1 Definitions  
 Capitalized terms used and not otherwise defined herein shall have the respective meanings provided for in the Indenture. Additionally, the following
terms shall have the meanings set forth below: 
 “Additional Pari Passu Agent” means the Person appointed to act as trustee, agent
or representative for the holders of Permitted Additional Pari Passu Obligations pursuant to any Additional Pari Passu Agreement. 
 “Additional Pari Passu Agreement” means the indenture, credit agreement or other agreement under which any Permitted Additional Pari Passu Obligations (other than Additional Notes) are incurred and any notes or other instruments
representing such Permitted Additional Pari Passu Obligations. 
 “Additional Pari Passu Joinder Agreement” means an agreement
substantially in the form of Annex I. 
 “Discharge of Obligations” means, both (i) in the case of the Indenture, the
discharge or defeasance of the Indenture in accordance with Section 8.1, Section 8.2 or Section 8.8 thereof and (ii) in the case of each Additional Pari Passu Agreement, the repayment of the Additional Pari Passu Obligations
under such agreement which entitles the Grantors to obtain a release of the Liens securing such Additional Pari Passu Obligations under the Security Documents. 
 “Distributions” means, collectively, with respect to each Grantor, all dividends, cash, options, warrants, rights, instruments, distributions, returns of capital or principal, income, interest, profits and
other property, interests (debt or equity) or proceeds, including as a result of a split, revision, reclassification or other like change of the Pledged Securities, from time to time received, receivable or otherwise distributed to such Grantor in
respect of or in exchange for any or all of the Pledged Securities. 
 “Event of Default” means an “event of default”
under the Indenture or under any Additional Pari Passu Agreement. 
 “Excluded Assets” has the meaning assigned to it in the second
paragraph of Section 2.1. 
  

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 “Indemnitees” means Agent (as such as in its individual capacity) and its officers, directors,
employees, stockholders, affiliates, agents and attorneys. 
 “Intellectual Property” means the collective reference to all rights,
priorities and privileges relating to all intellectual property, whether arising under United States, multinational or foreign laws, including, without limitation, copyrights, copyright licenses, patents, patent licenses, trademarks and trademark
licenses, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 
 “Issuer” means any issuer of Pledged Securities. 
 “Mortgage” means an agreement,
including, but not limited to, a mortgage, deed of trust or any other document creating and evidencing a Lien on a Mortgaged Property in favor of or for the benefit of the Agent, which shall be in form which, in the opinion of counsel to the
Company, is effective to grant a Lien in favor of or for the benefit of the Agent enforceable against the applicable Grantor and creates rights in favor of or for the benefit of the Agent in respect of the applicable Mortgaged Property to
substantially the same extent as the mortgages of the Grantors in favor of or for the benefit of the Agent provided on the Issue Date, in each case, with such schedules and including such provisions as shall, in the opinion of such counsel, be
necessary or desirable to conform such document to applicable local law or as shall be customary under applicable local law. 
 “Mortgaged Property” means (a) each Real Property identified as a Mortgaged Property on Schedule 2.3 and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Issue Date pursuant
to Section 2.3. 
 “Obligations” means any principal, premium, interest (including any interest accruing subsequent to the
filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), penalties,
fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under any of (i) the Indenture (other than any Additional Notes and provisions in the Indenture relating solely to such Additional Notes, except to the extent constituting
Permitted Additional Pari Passu Obligations), (ii) the Notes, (iii) any Additional Pari Passu Agreement and (iv) the documentation relating to any other Permitted Additional Pari Passu Obligations; provided that no obligations
in respect of Permitted Additional Pari Passu Obligations (other than obligations with respect to Additional Notes) shall constitute “Obligations” unless the Additional Pari Passu Agent for the holders of such Permitted Additional Pari
Passu Obligations has executed an Additional Pari Passu Joinder Agreement in the form of Annex I hereto. 
 “Organizational
Documents” means, with respect to any person, (i) in the case of any corporation, the certificate of incorporation and by-laws (or similar documents) of such person, (ii) in the case of any limited liability company, the certificate
of formation and operating 

  

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agreement (or similar documents) of such person, (iii) in the case of any limited partnership, the certificate of formation and limited partnership
agreement (or similar documents) of such person, (iv) in the case of any general partnership, the partnership agreement (or similar document) of such person and (v) in any other case, the functional equivalent of the foregoing. 

“Perfection Certificate” means that certain perfection certificate dated as of the date hereof, executed and delivered by each Grantor in
favor of the Agent for the benefit of the Secured Parties and in favor of Bank of America, N.A., in its capacity as ABL Agent (as defined in the Intercreditor Agreement), for the benefit of the ABL Lenders (as defined in the Intercreditor
Agreement). 
 “Pledged Securities” means, collectively, with respect to each Grantor, (i) all issued and outstanding Equity
Interests of each issuer set forth on Schedule 1.1 attached hereto as being owned by such Grantor and all options, warrants, rights, agreements and additional Equity Interests of whatever class of any such Issuer acquired by such Grantor
(including by issuance), together with all rights, privileges, authority and powers of such Grantor relating to such Equity Interests in each such Issuer or under any Organizational Document of each such Issuer, and the certificates, instruments and
agreements representing such Equity Interests and any and all interest of such Grantor in the entries on the books of any financial intermediary pertaining to such Equity Interests, (ii) all Equity Interests of any Person, which Equity
Interests are hereafter acquired by such Grantor (including by issuance) and all options, warrants, rights, agreements and additional Equity Interests of whatever class of any such Person acquired by such Grantor (including by issuance), together
with all rights, privileges, authority and powers of such Grantor relating to such Equity Interests or under any Organizational Document of any such Person, and the certificates, instruments and agreements representing such Equity Interests and any
and all interest of such Grantor in the entries on the books of any financial intermediary pertaining to such Equity Interests, from time to time acquired by such Grantor in any manner, and (iii) all Equity Interests issued in respect of the
Equity Interests referred to in clause (i) or (ii) upon any consolidation or merger of any Issuer of such Equity Interests. 
 “Real Property” means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned, leased or operated by any person, whether
by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property
and rights incidental to the ownership, lease or operation thereof. 
 “Required Secured Parties” means the holders of a majority
in aggregate principal amount of (i) the Notes and (ii) any Debt constituting Permitted Additional Pari Passu Obligations, in each case, excluding any holder of such Debt whose vote is required to be disregarded under the Indenture or the
applicable Additional Pari Passu Agreement. 
 “Secured Parties” means, collectively, the Agent, the Trustee, each Additional Pari
Passu Agent, the Noteholders and any other holders of Obligations. 
 “Securities Collateral” means, collectively, the Pledged
Securities and the Distributions. 
  

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 “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New
York; provided, however, that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Agent’s and the Secured Parties’ security interest in any item or portion of the
Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for
purposes of the provisions hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 
 1.2 Uniform Commercial Code 
 As used herein, the following terms are defined in accordance with the UCC:
“Accounts,” “Chattel Paper,” “Commercial Tort Claim,” “Deposit Account,” “Document,” “Equipment,” “Fixtures,” “General Intangibles,” “Goods,”
“Instrument,” “Inventory,” “Investment Property,” “Letter-of-Credit Right,” “Proceeds,” “Promissory Notes,” “Securities Account” and “Supporting Obligation.” 

1.3 Certain Matters of Construction 
 This Agreement shall be subject to the rules of construction contained in Section 1.4 of the Indenture, mutatis mutandis. 
 1.4 Perfection Certificate 
 The Agent and each Secured Party agree that the Perfection Certificate and all schedules,
amendments and supplements thereto are and shall at all times remain a part of this Agreement. 
 SECTION 2. COLLATERAL 
 2.1 Grant of Security Interest 
 To secure the prompt payment and performance of all Obligations each Grantor hereby grants to Agent, for the benefit of the Secured Parties, a continuing security interest in and Lien upon all property of such Grantor, including all of the
following property, whether now owned or hereafter acquired, and wherever located, but specifically excluding Excluded Assets, as defined below (all being collectively referred to herein as the “Collateral”): 
  

	 	(a)	all Accounts; 

  

	 	(b)	all Chattel Paper, including electronic chattel paper; 

  

	 	(c)	the Collateral Account; 

  

	 	(d)	all Commercial Tort Claims, including those set forth on Schedule 2.4.1; 

  

	 	(e)	all Deposit Accounts and all Trust Monies; 

  

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	 	(f)	all Documents; 

  

	 	(g)	all General Intangibles, including Intellectual Property; 

  

	 	(h)	all Goods, Inventory and Equipment; 

  

	 	(i)	all Instruments (including, without limitation, Promissory Notes); 

  

	 	(j)	all Investment Property; 

  

	 	(k)	all Letter-of-Credit Rights; 

  

	 	(l)	all Securities Collateral; 

  

	 	(m)	all Supporting Obligations; 

  

	 	(n)	all monies, whether or not in the possession or under the control of Agent; 

  

	 	(o)	all accessions to, substitutions for, and all replacements, products, and cash and non-cash Proceeds of the foregoing, including Proceeds of and unearned premiums with respect to
insurance policies, and claims against any Person for loss, damage or destruction of any Collateral; and 

  

	 	(p)	all books and records (including customer lists, files, correspondence, tapes, computer programs, printouts and computer records) pertaining to the foregoing.

 Notwithstanding anything to the contrary in this Agreement, and except for so long as a security interest in such Collateral
is then in effect to secure the ABL Obligations (as defined in the Intercreditor Agreement), the Collateral shall not include (collectively, the “Excluded Assets”): (i) assets (x) that on the Closing Date are subject to a Lien
permitted by clause (i) of the definition of Permitted Liens (but only to the extent such Lien is set forth on Schedule 2.1 hereto) and (y) that, following the Closing Date, become subject to a Lien permitted by clause (vii), (x),
(xiii), (xv) or (xvi) of the definition of “Permitted Liens”, in the case of each of subclause (x) and (y) above, to the extent and only for so long as the documentation relating to such Lien validly prohibits the
granting of a security interest to the Agent in such assets; (ii) any of the outstanding voting Equity Interests of a “controlled foreign corporation” (as defined in Section 957 of the Code), in excess of 65% of the voting power
of all classes of Equity Interests of such controlled foreign corporation entitled to vote; (iii)(x) any Equity Interests (other than Equity Interests of a Restricted Subsidiary) to the extent and for so long as the documents governing such
Equity Interests prohibit such Equity Interests from being Collateral and (y) any Equity Interest in any Canadian unlimited liability company (a “ULC Equity Interest”), (iv) any interest of a Grantor in any contract, lease,
license or other agreement if the granting of a security interest therein (x) is prohibited by, or would cause a termination of all or any material rights of a Grantor under, applicable law or the terms of such contract, lease, license or other
agreement, to the extent such prohibition or termination is not rendered unenforceable or ineffective under sections 9-406 through 9-409 of the UCC or other applicable law or (y) would provide any party thereto (other than a Grantor or a
Restricted Subsidiary) with any other remedy that materially increases the costs or burden of the applicable Grantor 

  

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thereunder; (v) the Deposit Account maintained by the Company at The Bank of Nova Scotia and certain related assets that are included in the definition
of “Collateral” pursuant to the Guaranty and Security Agreement, dated as of December 12, 2006 as in effect on the date hereof by the Company for the benefit of ScotiaBank Sudo Americano, S.A., (vi) any Deposit Account or
Securities Account (and cash, Investment Property and other property contained therein) which is established for purposes of “cash collateralizing” any other Debt of the Company (other than the ABL Obligations) in a transaction permitted
by the Indenture to the extent the documentation relating to such Debt does not permit the Notes Lien to extend to such property, (vii)(A) any fee interest in real property of any Grantor, including all fixtures, easements and appurtenances related
thereto (other than the real property, including fixtures, easements and appurtenances related thereto (1) listed on Schedule 2.3 that is subject to a Mortgage or (2) required to become subject to a Mortgage pursuant to
Section 2.3 of this Agreement and (B) any leasehold interest in any real property of any Grantor, as tenant, including all fixtures, easements and appurtenances relating thereto and (viii) proceeds and products of any and all of the
foregoing excluded assets described in clause (i) through (vii) above to the extent such proceeds and products would constitute property or assets of the type described in clause (i) through (vii) above. 
 2.2 Securities Collateral 
 Each Grantor represents and warrants that all certificates or instruments representing or evidencing the Securities Collateral in existence on the date hereof have been delivered to the Agent in suitable form for transfer by delivery or
accompanied by duly executed instruments of transfer or assignment in blank and that the Agent has a perfected first priority security interest therein. Each Grantor hereby agrees that all certificates or instruments representing or evidencing
Securities Collateral acquired by such Grantor after the date hereof shall promptly (but in any event within thirty days after receipt thereof by such Grantor) be delivered to and held by or on behalf of the Agent pursuant hereto. All certificated
Securities Collateral shall be in suitable form for transfer by delivery or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to the Agent. The Agent shall have the right, at
any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to register in the name of the Agent or any of its nominees or endorse for negotiation any or all of the Securities
Collateral, without any indication that such Securities Collateral is subject to the security interest hereunder. In addition, upon the occurrence and during the continuance of an Event of Default, the Agent shall have the right at any time to
exchange certificates representing or evidencing Securities Collateral for certificates of smaller or larger denominations. Each Grantor that is an Issuer of the Pledged Securities agrees to comply with instructions originated by the Agent with
respect to the Pledged Securities issued by such Issuer without further consent of any Grantor or any other person and acknowledges that it is the intention of this Agreement to grant “control” to the Agent (within the meaning of
Articles 8 and 9 of the UCC) over such Pledged Securities, to the extent the same may be applicable to such Pledged Securities. 
  

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 2.3 Real Estate Collateral 
 The Obligations shall also be secured by (i) Mortgages and Fixtures upon all Mortgaged Property and Fixtures owned by each Grantor and listed on
Schedule 2.3 and (ii) to the extent not excluded from “Collateral” pursuant to clause (i) of the last paragraph of Section 2.1, all Real Property acquired in fee simple following the Issue Date with a book value of
$10,000,000 or more as of the date of acquisition (or, if later, upon the date of acquisition or completion of construction of any improvements thereon) (a “Specified Real Property”) and the Grantors shall provide a Mortgage in favor of
the Agent in any Specified Real Property within 90 days following the date of acquisition thereof (or, if later, upon the date such Real Property becomes a Specified Real Property). The amount of Obligations secured by any Real Property which
becomes a Mortgaged Property following the Issue Date may be limited to an amount equal to at least 100% of the Fair Market Value of such Mortgaged Property in the event that securing a greater principal amount of Obligations would require the
payment of recording or similar taxes in excess of $5,000. In the event that any Permitted Additional Pari Passu Obligations are incurred following the Issue Date, the Grantors shall notify the Agent thereof in writing and take all such action as
may be reasonably required to amend each then existing Mortgage in order to appropriately ensure that such Permitted Additional Pari Passu Obligations are secured equally and ratably with the Note Obligations. In connection with the provision of any
new Mortgage or any amendment to any Mortgage pursuant to this Section 2.3, the related Grantors will provide (a) an opinion of counsel in form and substance consistent with those provided on the Issue Date, (b) UCC-1 fixture filings,
(c) title searches in form and substance consistent with those provided on the Issue Date conducted by a title insurer which reflects that such Mortgaged Property is free and clear of all defects and encumbrances except Permitted Collateral
Liens, (d) a “Life of Loan” Federal Emergency Management Agency Standard Flood Hazard Determination in each case in form and substance consistent with those provided on the Issue Date and, if applicable, evidence of flood insurance,
(e) ExpressMaps issued by FirstAmerican Title Insurance Company ExpressMap Division in form and substance consistent with those provided on the Issue Date together with a written certificate executed by an officer of the Company stating that
the material improvements utilized in connection with each Mortgaged Property to such officer’s knowledge, after due inquiry, are located within such Mortgaged Property as depicted on the ExpressMap within the boundaries of such Mortgaged
Property as depicted on such ExpressMap and (f) such other items which the Grantors determine in good faith are consistent with those provided on the Issue Date. 
 2.4 Other Collateral 
 2.4.1 Commercial Tort Claims 
 Schedule 2.4.1 contains a true and correct list of all Commercial Tort Claims held by each Grantor, including a brief description thereof in excess
of $5,000,000. Each Grantor shall promptly notify Agent in writing if such Grantor has a Commercial Tort Claim (other than, as long as no Event of Default exists, a Commercial Tort Claim for less than $5,000,000) and shall promptly take such actions
as counsel to such Grantor deems appropriate to confer upon Agent (for the benefit of Secured Parties) a duly perfected Lien upon such claim, subject to Permitted Liens. 
  

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 2.4.2 After-Acquired Intellectual Property 
 Not later than the next succeeding December 1 following the date any Grantor (i) obtains any rights to any additional Intellectual Property
constituting Collateral which is registered with the United States Copyright Office or the United States Patent & Trademark Office or (ii) becomes entitled to the benefit of any additional Intellectual Property constituting Collateral
or any renewal or extension thereof, including any reissue, division, continuation, or continuation-in-part of any Intellectual Property constituting Collateral which is registered with the United States Copyright Office or the United States
Patent & Trademark Office, or any improvement on any Intellectual Property constituting Collateral which is registered with the United States Copyright Office or the United States Patent & Trademark Office, such Grantor shall
notify the Agent thereof in writing and use commercially reasonable efforts to cause a short form security agreement in favor of the Agent to be filed in the United States Copyright Office or the Unites States Patent & Trademark Office, as
the case may be, with respect to such Intellectual Property; provided that this covenant shall not apply to “off-the-shelf” license rights of any Grantor in any Intellectual Property or any other license rights that are not material to the
Grantor. 
 2.5 No Assumption of Liability 
 The Lien on Collateral granted hereunder is given as security only and shall not subject Agent or any other Secured Party to, or in any way modify, any obligation or liability of any Grantor relating to any
Collateral. 
 2.6 Further Assurances 
 Each Grantor shall deliver such instruments, assignments, title certificates, or other documents or agreements, and shall take such actions, as such Grantor deems appropriate under applicable law to evidence or
perfect the Agent’s Lien on any Collateral, or otherwise to give effect to the intent of this Agreement; provided, that notwithstanding, anything in this Agreement to the contrary, the Grantors shall not be required to take any action to
perfect the security interest of the Agent, other than the filing of UCC-1 financing statements, in any of the following assets: (i) any vehicles, aircraft or equipment subject to certificate of title statutes, (ii) any Real Property
except as provided in Section 2.3, (iii) assets located in any country other than the United States of America, (iv) Equity Interests of any Foreign Subsidiary (other than any Nova Scotia unlimited liability company), (v) any
deposit account, investment account, commodities account or securities account (other than the Collateral Account) and (vi) Intellectual Property that is not registered with the United States Copyright Office or the United States
Patent & Trademark Office, or any successor office thereto. Each Grantor agrees to enter into a pledge agreement on substantially the same terms as the ULC Pledge Agreement entered into on the Closing Date if any such Grantor acquires any
ULC Equity Interests. Each Grantor authorizes Agent to file any financing statement that indicates the Collateral as “all assets” or “all personal property” of such Grantor, or words to similar effect, and ratifies any action
taken by Agent before the Issue Date to effect or perfect the Agent’s Lien on any Collateral. The rights and powers conferred on the Agent hereunder are solely to protect its interest (on behalf of the Secured Parties) in the Collateral and
shall not impose any duty on it to exercise any such powers. Except for the reasonable care of any Collateral in its possession and the accounting for 

  

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moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or responsibility for ascertaining or taking any necessary steps
to preserve rights against other parties or any other rights pertaining to any Collateral (including, without limitation, the filing of UCC financing or continuation statements). 
 SECTION 3. COLLATERAL ADMINISTRATION 
 3.1 Administration of Accounts 

3.1.1 Records and Schedules of Accounts 
 Each Grantor shall keep records of its accounts that are accurate and complete in all material respects. 
 3.1.2 Taxes

 If an Account of any Grantor includes a charge for any taxes, Agent is authorized (but shall be under no obligation to any Secured Party
or to any Grantor) to pay the amount thereof to the proper taxing authority for the account of such Grantor and to charge such Grantor therefor; provided, however, that neither Agent nor Secured Parties shall be liable for any taxes
that may be due from any Grantor or with respect to any Collateral. 
 3.1.3 Account Verification 
 While any Event of Default exists, Agent shall have the right at any time, in the name of Agent, any designee of Agent or any Grantor, to verify the
validity, amount or any other matter relating to any Accounts of such Grantor by mail, telephone or otherwise. Each Grantor shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification process. 

3.2 Administration of Inventory 
 3.2.1 Records and Reports of Inventory 
 Each Grantor shall keep records of its Inventory that are accurate and complete in
all material respects. 
 3.3 Administration of Equipment 
 3.3.1 Records and Schedules of Equipment 
 Each Grantor shall keep records of its Equipment that are accurate and complete in all material respects. 
 3.4 General
Provisions 
 3.4.1 [Intentionally Omitted] 
 3.4.2 Insurance of Collateral; Condemnation Proceeds 
  

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 The Collateral is and will be insured with financially sound and reputable insurance companies which are
not Affiliates of any of the Grantors, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties and other assets in localities where the
Grantors operate. All proceeds under each policy in respect of Collateral constituting Net Loss Proceeds shall, subject to the Intercreditor Agreement, be payable to Agent as Trust Monies. From time to time upon request (it being understood that
Agent shall be under no obligation to any Secured Party or any Grantor to make any such request), each Grantor shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. The Grantors shall
use commercially reasonable efforts (consistent with industry practice) to cause each such policy to include satisfactory endorsements (i) showing Agent as loss payee or additional insured, as appropriate and (ii) requiring 30 days prior
written notice to Agent in the event of cancellation of the policy for any reason whatsoever (or a lesser period of time reasonably acceptable to Agent). If any Grantor fails to provide and pay for any insurance, Agent may, at its option (but shall
not be under any obligation to any Secured Party or any Grantor to), procure the insurance and charge such Grantor therefor. While no Event of Default exists, each Grantor may, but the Agent may not, settle, adjust or compromise any insurance claim,
as long as the proceeds are delivered to Agent. If an Event of Default exists, Agent may (but shall not be under any obligation to any Secured Party or any Grantor to) reasonably settle, adjust and compromise such claims. 
 3.4.3 Protection of Collateral 
 All
reasonable expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent
to any Person to realize upon any Collateral, shall be borne and paid by the Grantors. Agent shall not be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its
custody while Collateral is in Agent’s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at each
Grantor’s sole risk. 
 3.4.4 Defense of Title to Collateral 
 Each Grantor shall at all times defend its title to Collateral and Agent’s Liens therein against all Persons, claims and demands whatsoever, except
Permitted Liens. 
 3.5 Power of Attorney 
 Each Grantor hereby irrevocably constitutes and appoints Agent (and all Persons designated by Agent) as such Grantor’s true and lawful attorney (and agent-in-fact) for the purposes provided in this Section.
Agent, or Agent’s designee, may, without notice and in either its or the applicable Grantor’s name, but at the cost and expense of such Grantor, at any time after the occurrence and during the continuance of an Event of Default:

 (a) endorse such Grantor’s name on any payment item or other proceeds of Collateral (including proceeds of insurance)
that come into Agent’s possession or control; and 
  

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 (b) (i) settle, adjust, modify, compromise, discharge or release any Accounts or
other Collateral, or any legal proceedings brought to collect Accounts or other Collateral; (ii) sell or assign any Accounts and other Collateral upon such terms, for such amounts and at such times as Agent deems advisable; (iii) take
control, in any manner, of any proceeds of Collateral; (iv) prepare, file and sign such Grantor’s name to any notice, assignment or satisfaction of Lien or similar document; (v) receive, open and dispose of mail addressed to such
Grantor, and notify postal authorities to change the address for delivery thereof to such address as Agent may designate; (vi) endorse any Chattel Paper, Document, Instrument, invoice, freight bill, bill of lading, or similar document or
agreement relating to any Accounts, Inventory or other Collateral; (vii) use the information recorded on or contained in any data processing equipment and computer hardware and software relating to any Collateral; (viii) make and adjust
claims under policies of insurance; (ix) take any action as may be necessary or appropriate to obtain payment under any letter of credit or banker’s acceptance for which such Grantor is a beneficiary; and (x) take all other actions as
Agent deems appropriate. 
 SECTION 4. REPRESENTATIONS AND WARRANTIES 
 Each Grantor represents and warrants that: 
 4.1 Organization and Qualification 
 Such Grantor is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. Such Grantor is duly
qualified, authorized to do business and in good standing as a foreign corporation in each jurisdiction where failure to be so qualified could reasonably be expected to have a Material Adverse Effect (as defined in Section 4.6). 
 4.2 Power and Authority 
 Such
Grantor is duly authorized to execute, deliver and perform this Agreement. The execution, delivery and performance of this Agreement has been duly authorized by all necessary action, and do not (a) require any consent or approval of any holders
of Equity Interests of such Grantor, other than those already obtained; (b) contravene the Organizational Documents of such Grantor; (c) violate or cause a default under any applicable law or any material contract to which such Grantor is
a party; (d) require any authorization, approval or other action by, or any notice to or filing with (other than any such filing listed in Schedule 6 to the Perfection Certificate), any domestic or foreign governmental authority or
regulatory body or consent of any other Person or (e) result in or require the imposition of any Lien (other than the Liens set forth hereunder or in any other Security Document) on any property of such Grantor. 
  

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 4.3 Enforceability 
 This Agreement is a legal, valid and binding obligation of such Grantor, enforceable in accordance with its terms, except (i) as enforceability may
be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally and (ii) equitable limitations upon the enforcement (whether by an action for specific performance, injunctive relief or
otherwise) of remedies or obligations enforceable in a court of equity and the discretion of courts in granting or withholding equitable relief with respect to such enforcement. 
 4.4 Validity of Security Interest 
 The security on the Collateral granted to the Agent for the benefit of the Secured Parties hereunder constitutes (a) a legal and valid security interest in all the Collateral securing the payment and performance of the Obligations, and
(b) subject to the filings and other actions described in Schedule 6 to the Perfection Certificate (to the extent required to be listed on the schedules to the Perfection Certificate as of the date this representation is made or deemed
made), a perfected security interest in all the Collateral to which Article 9 of the UCC is applicable. The security interest and Lien granted to the Agent for the benefit of the Secured Parties pursuant to this Agreement in and on the Collateral
will at all times constitute a perfected, continuing security interest therein, prior to all other Liens on the Collateral except for Permitted Liens. 
 4.5 Corporate Names; Locations 
 During the five years preceding the Issue Date, except as
shown on Schedule 4.5, such Grantor has not been known as or used any corporate, fictitious or trade names, has been the surviving corporation of a merger or combination, or has acquired any substantial part of the assets of any Person other
than in the ordinary course of such other Person’s business. As of the Issue Date, the chief executive offices and other places of business of each Grantor are shown on Schedule 4.5. Except as set forth on Schedule 4.5 during the
five years preceding the Issue Date, each Grantor has not had any other office or place of business or changed its jurisdiction of incorporation. Set forth on Schedule 4.5 is the exact legal name of each Grantor as such name appears in its
respective certificate of incorporation or any other organizational document, together with the type of entity, organizational number and Federal Taxpayer Identification Number of each Grantor and whether or not such Grantor is a registered
organization. 
 4.6 Title to Properties; Priority of Liens 
 Each Grantor has good and marketable title to (or valid leasehold interests in) all of its Real Property, and good title to all of its personal property
purported to be owned by it, including all property reflected in any financial statements delivered to Agent, in each case free of Liens except Permitted Liens. 
  

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 4.7 Intellectual Property 
 Each Grantor owns or has the lawful right to use all Intellectual Property necessary for the conduct of its business, without known conflict with any
rights of others. There is no pending or, to such Grantor’s knowledge, threatened Intellectual Property claim with respect to such Grantor or any of its property (including any Intellectual Property), except for any such Intellectual Property
claim that could not reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of the Grantors (taken as a whole) (a “Material Adverse Effect”). Except as disclosed on
Schedule 4.7, on the Issue Date each Grantor neither pays nor owes any royalty or other compensation to any Person with respect to any material Intellectual Property. All material Intellectual Property owned, used or licensed by, or otherwise
subject to any interests of, each Grantor (other than “off-the-shelf” licenses of Intellectual Property) is shown on Schedule 4.7 as of the Issue Date. 
 4.8 Pledged Securities 
 Each Pledged Security has been duly and validly authorized and issued
to the applicable Grantor and, if applicable, is fully paid and nonassessable. No Pledged Security consisting of either (i) a membership interest in an Issuer that is a limited liability company or (ii) a partnership interest in an Issuer
that is a partnership provides by its terms that it is a “security” governed by Article 8 of the UCC. None of the Pledged Securities constitutes margin stock, as defined in Regulation U of the Board of Governors of the Federal Reserve
System. 
 SECTION 5. COVENANTS 
 As long
as any Obligations are outstanding (other than contingent obligations which by their terms survive the discharge or defeasance of the Indenture and each Additional Pari Passu Agreement), each Grantor shall: 
 5.1 Notices 
 Notify Agent in
writing, promptly after such Grantor’s obtaining knowledge thereof, of any of the following that affects such Grantor: any environmental release by such Grantor or on any Mortgaged Property, which environmental release could reasonably be
expected to have a Material Adverse Effect; or receipt of any environmental notice with respect to any Mortgaged Property, if an adverse resolution could reasonably be expected to have a Material Adverse Effect. In the event of any change by any
Grantor of (i) such Grantor’s legal name, (ii) such Grantor’s jurisdiction of organization, (iii) such Grantor’s organizational identification number, if any, (iv) such Grantor’s federal taxpayer
identification number or (v) such Grantor’s chief executive office, the Grantors will notify the Agent thereof within 30 days and will cause such amendments to any UCC financing statements and other filings or registrations relating to the
Collateral as may be required to maintain the perfection and priority of the Agent’s security interest in the Collateral of such Grantor. 
 5.2 ABL Facility Collateral Agent 
 In the event any Grantor takes any action to grant or perfect a Lien in favor of
the ABL Agent (as defined in the Intercreditor Agreement) in any assets (other than granting “control” over any Collateral to the ABL Agent (as defined in the Intercreditor Agreement) but including actions to perfect security interests in
leasehold mortgages or under the laws of foreign jurisdictions), such Grantor shall also take such action to grant or perfect a Lien in favor of the Agent to secure the Obligations. 
  

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 5.3 Pledged Securities 
 Not take any action to cause any membership interest or partnership interest comprising the Pledged Securities to be or become a “security”
within the meaning of, or to be governed by Article 8 of the UCC as in effect under the laws of any state having jurisdiction and shall not cause or permit any issuer of Pledged Securities to “opt in” or to take any other action seeking to
establish any membership interest or partnership interest of the Pledged Securities as a “security” or to become certificated unless such Grantor delivers such Pledged Securities with appropriate certificates of transfer to the Agent.

 5.4 Post-Closing Matters 
 Take the actions specified in Schedule 5.4 within the time periods set forth in Schedule 5.4. The provisions of Schedule 5.4 shall be deemed incorporated by reference herein as
fully as if set forth herein in its entirety. 
 SECTION 6. THE COLLATERAL AGENT 
 6.1 Duties of Agent 
 (a) If an
Event of Default has occurred and is continuing and the Agent has received written notice thereof from the Company, the Trustee or any Additional Pari Passu Agent, the Agent shall exercise such of the rights and powers vested in it by this Agreement
and the Security Documents, and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b) Except during the continuance of an Event of Default: 
 (i) the duties of the Agent shall be determined solely by the express provisions of this Agreement and the Agent need perform only those duties that are specifically set forth in this Agreement and the Security
Documents and no others, and no implied covenants or obligations shall be read into this Agreement or the Security Documents against the Agent; and 
 (ii) (in the absence of bad faith on its part, the Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the
Agent. 
 (c) The Agent may not be relieved from liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) or (e) of this
Section 6.1; 
 (ii) the Agent shall not be liable for any error of judgment made in good faith by an officer of the
Agent, unless it is proved that the Agent was negligent in ascertaining the pertinent facts; and 
  

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 (iii) the Agent shall not be liable with respect to any action it takes or omits to take
in good faith in accordance with a direction received by it pursuant to Section 7 hereof or otherwise in accordance with the direction of the Required Secured Parties, or for the method and place of conducting any proceeding for any remedy
available to the Agent, or exercising any trust or power conferred upon the Agent, under this Agreement or any Security Document. 
 (d)
Whether or not therein expressly so provided, every provision of this Agreement or any provision of any Security Document that in any way relates to the Agent is subject to paragraphs (a), (b), (c), (e) and (f) of this Section 6.1.

 (e) No provision of this Agreement or any Security Document shall require the Agent to expend or risk its own funds or incur any
liability. The Agent shall be under no obligation to exercise any of its rights and powers under this Agreement or any Security Document at the request of any Secured Parties, unless such Secured Parties shall have offered to the Agent security and
indemnity satisfactory to it against any loss, liability or expense. 
 (f) The Agent shall not be liable for interest on any money received
by it except as the Agent may agree in writing with the Grantors. Money held in trust by the Agent need not be segregated from other funds except to the extent required by law. 
 6.2 Rights of Agent 
 (a) The
Agent may conclusively rely and shall be fully protected in acting or refraining from acting on any document believed by it to be genuine and to have been signed or presented by the proper Person. The Agent need not investigate any fact or matter
stated in any such document. The Agent shall not be obligated to communicate with or deal in any way with any Secured Party other than the Trustee or any Additional Pari Passu Agent. In determining (x) the amount of Obligations outstanding
under the Indenture or any Additional Pari Passu Agreement or (y) whether the consent of any Secured Party to any amendment, waiver or other action under this Agreement or any other Security Document has been obtained, the Agent may
conclusively rely on any statement by the Trustee or the applicable Additional Pari Passu Agent as to such matter. 
 (b) Before the Agent
acts or refrains from acting, it may require an Officers’ Certificate. The Agent shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate. The Agent may consult with counsel of
the Agent’s own choosing and the Agent shall be fully protected from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance on the advice or opinion of such counsel or on any Opinion of
Counsel. 
 (c) The Agent may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any
attorney or agent appointed with due care. 
 (d) The Agent shall not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within the rights or powers conferred upon it by this Agreement or any Security Document. Any request or direction of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate and
any resolution of the Board 

  

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of Directors may be sufficiently evidenced by a Board Resolution. Whenever in the administration of this Agreement or any Security Document the Agent shall
deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Agent (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely
upon an Officers’ Certificate. 
 (e) Unless otherwise specifically provided in this Agreement or any Security Document, any demand,
request, direction or notice from any Grantor shall be sufficient if signed by an Officer of such Grantor. 
 (f) The Agent shall be under no
obligation to exercise any of the rights or powers vested in it by this Agreement or any Security Document at the request or direction of any of the Secured Parties unless such Secured Parties shall have offered to the Agent reasonable security and
indemnity reasonably satisfactory to the Agent against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 
 (g) The Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or documents, but the Agent, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Agent shall determine to make
such further inquiry or investigation, it shall be entitled to examine during normal business hours the books, records and premises of any Grantor, personally or by agent or attorney at the sole cost of the Grantors, and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation. 
 (h) The rights, privileges, protections and benefits given to
the Agent, including, without limitation, its rights to be indemnified, are extended to, and shall be enforceable by, the Agent in each of its capacities hereunder, and to each agent, custodian and other Persons employed to act hereunder or under
any Security Document. 
 (i) The Agent may request that the Company deliver an Officers’ Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Agreement or any other Security Document, which Officers’ Certificate may be signed by any person authorized to sign an Officers’
Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 
 (j) The
permissive right of the Agent to take or refrain from taking any actions enumerated in this Agreement or any Security Document shall not be construed as a duty. 
 (k) In the event that the Agent (in such capacity or in any other capacity hereunder or under any Security Document) is unable to decide between alternative courses of action permitted or required by the terms of this
Agreement or any Security Document, or in the event that the Agent is unsure as to the application of any provision of this Agreement or any Security Document, or believes any such provision is ambiguous as to its application, or is, or appears to
be, in conflict with any other applicable provision, or in the event that this Agreement 

  

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or any Security Document permits any determination by or the exercise of discretion on the part of the Agent or is silent or is incomplete as to the course
of action that the Agent is required to take with respect to a particular set of facts, the Agent shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Noteholders and the holders of any Debt constituting
Permitted Additional Pari Passu Obligations requesting instruction as to the course of action to be adopted, and to the extent the Agent acts in good faith in accordance with any written instructions received from a majority in aggregate principal
amount of the aggregate of (x) then outstanding Notes and (y) any Debt constituting Permitted Additional Pari Passu Obligations, the Agent shall not be liable on account of such action to any Person. If the Agent shall not have received
appropriate instruction within 10 days of such notice (or such shorter period as reasonably may be specified in such notice or as may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such
action as it shall deem to be in the best interests of the Noteholders and the holders of any Debt constituting Permitted Additional Pari Passu Obligations and the Agent shall have no liability to any Person for such action or inaction. 

6.3 Individual Rights of Agent 
 The Agent in its individual or any other capacity may become the owner or pledgee of Obligations and may otherwise deal with any Grantor or any Affiliate of any Grantor with the same rights it would have if it were not Agent. 
 6.4 Agent’s Disclaimer 
 The Agent shall not be responsible for and makes no representation as to the validity or adequacy of this Agreement or any other Security Document, or the existence, genuineness, value or protection of any Collateral (except for the safe
custody of Collateral in its possession and the accounting for Trust Monies actually received by it in accordance with the terms hereof) for the legality, effectiveness or sufficiency of any Security Document, or for the creation, perfection,
priority, sufficiency or protection of any Lien on any Collateral, and it shall not be responsible for any statement or recital herein or any statement in this Agreement or any Security Document. 
 6.5 Replacement of Agent 
 A
resignation or removal of the Agent and appointment of a successor Agent shall become effective only upon the successor Agent’s acceptance of appointment as provided in this Section 6.5. 
 The Agent may resign in writing at any time and be discharged from the trust hereby created by so notifying the Company, the Trustee and each Additional
Pari Passu Agent. The Company may remove the Agent if: 
 (a) the Agent is removed as Trustee under the Indenture; 

(b) the Agent fails to comply with Section 6.7 hereof; 
  

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 (c) the Agent is adjudged a bankrupt or an insolvent or an order for relief is entered
with respect to the Agent under any Bankruptcy Law; 
 (d) a custodian or public officer takes charge of the Agent or its
property; or 
 (e) the Agent becomes incapable of acting. 
 If the Agent resigns or is removed or if a vacancy exists in the office of Agent for any reason, the Company shall promptly appoint a successor Agent
which complies with the eligibility requirements contained in the Indenture and each Additional Pari Passu Agreement. Within one year after the successor Agent takes office, the Required Secured Parties may appoint a successor Agent to replace the
successor Agent appointed by the Grantors. 
 If a successor Agent does not take office within 30 days after the retiring Agent resigns or is
removed, the retiring Agent, the Company or the holders of at least 10% in principal amount of the then outstanding principal amount of Obligations may petition any court of competent jurisdiction for the appointment of a successor Agent.

 A successor Agent shall deliver a written acceptance of its appointment to the retiring Agent and to the Company. Thereupon, the
resignation or removal of the retiring Agent shall become effective, and the successor Agent shall have all the rights, powers and the duties of the Agent under this Agreement and the Security Documents. The successor Agent shall mail a notice of
its succession to the Trustee and each Additional Pari Passu Agent. The retiring Agent shall promptly transfer all property held by it as Agent to the successor Agent, provided that all sums owing to the Agent hereunder have been paid.
Notwithstanding replacement of the Agent pursuant to this Section 6.5, the Grantors’ obligations under Section 8.2 and Section 8.3 shall continue for the benefit of the retiring agent. 
 6.6 Successor Agent by Merger, Etc. 
 If the Agent consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another Person, the successor Person without any further act shall be the successor Agent under this Agreement and
the other Security Documents. 
 6.7 Eligibility 
 There shall at all times be an Agent hereunder that (i) meets the requirements for being a Trustee under the Indenture (prior to the discharge or defeasance of the Indenture) and (ii) following the discharge
or defeasance of the Indenture, meets the requirements for being the Additional Pari Passu Agent under any then extant Additional Pari Passu Agreement. 
 6.8 Agent’s Application for Instructions from the Company 
 Any application by the Agent
for written instructions from the Company may, at the option of the Agent, set forth in writing any action proposed to be taken or omitted by the Agent under this Agreement or any other Security Document and the date on and/or after which such
action shall be taken or such omission shall be effective. The Agent shall not be liable for any action taken by, or omission of, the Agent in accordance with a proposal included in such 

  

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application on or after the date specified in such application (which date shall not be less than twenty Business Days after the date any officer of the
Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Agent shall have received written
instructions in response to such application specifying the action to be taken or omitted. 
 6.9 Co-Agent; Separate Agent 

 At any time or times, for the purpose of meeting the Legal Requirements of any jurisdiction in which any of the Collateral may at the time
be located, the Company and the Agent shall have power to appoint agents and sub-agents to the extent permitted under the Indenture. 
 SECTION 7.
REMEDIAL PROVISIONS 
 7.1 General 
 Subject to the terms of the Intercreditor Agreement, if any Event of Default has occurred and is continuing, Agent may (but, except as provided below, shall be under no obligation to any Secured Party or any Grantor
to) from time to time exercise any rights or remedies afforded under any agreement, by law, at equity or otherwise, including the rights and remedies of a secured party under the UCC. Such rights and remedies include the rights to (i) take
possession of any Collateral; (ii) require each Grantor to assemble Collateral, at such Grantor’s expense, and make it available to Agent at a place designated by Agent; (iii) enter any premises where Collateral is located and store
Collateral on such premises until sold (and if the premises are owned or leased by any Grantor, such Grantor agrees not to charge for such storage); and (iv) sell or otherwise dispose of any Collateral in its then condition, or after any
further manufacturing or processing thereof, at public or private sale, with such notice as may be required by applicable law, in lots or in bulk, at such locations, all as Agent, acting only upon the written direction of the Required Secured
Parties (or, in the absence of such direction, in any manner), deems advisable. Each Grantor agrees that 10 days’ notice of any proposed sale or other disposition of Collateral by Agent shall be reasonable. Agent shall have the right to (but
shall be under no obligation to any Secured Party or any Grantor to) conduct such sales on any Grantor’s premises, without charge, and such sales may be adjourned from time to time in accordance with applicable law. Agent shall have the right
to (but shall be under no obligation to any Secured Party or any Grantor to) sell, lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and Agent may purchase any Collateral at public or, if permitted by law,
private sale and, in lieu of actual payment of the purchase price, may set off the amount of such price against the Obligations. 
 7.2
Voting Rights; Dividends; Etc. 
 (a) So long as no Event of Default has occurred and is then continuing in respect of which the
Agent has provided the Grantors with notice of its election to exercise the rights and remedies set forth in Section 7.2(b) below: 
 (i) the Grantors shall be entitled to exercise any and all voting and other consensual rights pertaining to the Securities Collateral, or any part thereof, for any purpose not inconsistent with the terms of this
Agreement or the Indenture; and 
  

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 (ii) to the extent permitted under the Indenture, the Grantors shall be entitled to
receive all distributions, dividends (in the form of cash, securities or otherwise), cash, instruments, chattel paper and other rights, property or proceeds and products from time to time received, receivable or otherwise distributed in respect of
the Securities Collateral. 
 (b) At any time that an Event of Default has occurred and is then continuing in respect of which the Agent has
provided the Grantors with written notice of its election to exercise the rights and remedies set forth in this Section 7.2(b): 
 (i) all rights of the Grantors to exercise voting and other consensual rights in respect of the Securities Collateral shall immediately cease to be effective, and all such voting and other consensual rights shall become vested in the Agent
and the Agent shall thereupon have the sole right to exercise such voting and other consensual rights (including, without limitation, the right to vote in favor of, and to exchange any or all of the Securities Collateral upon, the consolidation,
recapitalization, merger or other reorganization with respect to an Issuer). In order to effect the foregoing, each Grantor hereby grants to the Agent an irrevocable proxy to vote the Securities Collateral and, any time that an Event of Default
exists in respect of which the Agent has provided the Grantors with notice of its election to exercise the rights and remedies set forth in this Section 7.2(b), each Grantor agrees to execute such other proxies as the Agent may request; and

 (ii) all rights of the Grantors to receive and retain any distributions, dividends (in the form of cash, securities or
otherwise), instruments, chattel paper or other property paid or payable with respect to any of the Securities Collateral shall immediately cease and any such distributions, dividends (in the form of cash, securities or otherwise), instruments,
chattel paper or other property paid or payable with respect to any of the Securities Collateral shall be paid to the Agent (for application to the Obligations as set forth in Annex III, with respect to any cash or cash equivalents, or to be
held by the Agent as additional security for the Obligations, with respect to any other type of property). Any distributions, dividends (in the form of cash, securities or otherwise), instruments, chattel paper or other property paid or payable with
respect to any of the Securities Collateral and received by the Grantors contrary to the provisions of this Agreement shall be received in trust for the benefit of the Agent, shall be segregated from other assets (including, in the case of cash or
cash equivalents, other funds) of the Grantors and shall be forthwith paid to the Agent. 
 7.3 License 
 Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license (without payment of royalty or other compensation to any
Person) any or all Intellectual Property of each Grantor, computer hardware and software, trade secrets, brochures, 

  

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customer lists, promotional and advertising materials, labels, packaging materials and other property, in advertising for sale, marketing, selling,
collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral. Each Grantor’s rights and interests under Intellectual Property shall inure to Agent’s benefit. 
 7.4 Setoff 
 Subject to the
terms of the Intercreditor Agreement, at any time during an Event of Default, Agent, each Secured Party and any of their Affiliates are authorized, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by Agent, such Secured Party or such Affiliate to or for the credit or the account of a Grantor
against any Obligations, irrespective of whether or not Agent, such Secured Party or such Affiliate shall have made any demand under this Agreement, the Indenture, any Additional Pari Passu Agreement or any other agreement and although such
Obligations may be contingent or unmatured or are owed to a branch or office of Agent, such Secured Party or such Affiliate different from the branch or office holding such deposit or obligated on such indebtedness. The rights of Agent, each Secured
Party and each such Affiliate under this Section are in addition to other rights and remedies (including other rights of setoff) that such Person may have. 
 7.5 Remedies Cumulative; No Waiver 
 7.5.1 Cumulative Rights 
 All covenants, conditions, provisions, warranties, guaranties, indemnities and other undertakings of any Grantor contained in the Senior Secured Note Documents are
cumulative and not in derogation or substitution of each other. In particular, the rights and remedies of Agent are cumulative, may be exercised at any time and from time to time, concurrently or in any order, and shall not be exclusive of any other
rights or remedies that Agent may have, whether under any agreement, by law, at equity or otherwise. 
 7.5.2 Waivers

 The failure or delay of Agent to require strict performance by any Grantor with any terms of this Agreement, or to exercise any rights or remedies with
respect to Collateral or otherwise, shall not operate as a waiver thereof nor as establishment of a course of dealing. All rights and remedies shall continue in full force and effect until the Discharge of Obligations. No modification of any terms
of this Agreement or any Security Document (including any waiver thereof) shall be effective, unless such modification is specifically provided in a writing directed to the applicable Grantor and executed by Agent with the consent of any Secured
Parties required by the Indenture and any Additional Pari Passu Agreement, and such modification shall be applicable only to the matter specified. 
  

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 SECTION 8. Miscellaneous 
 8.1 Notices 
 All notices, approvals, requests, demands and other communications hereunder
shall be given if to: 
  

	 	(i)	The Bank of New York Mellon Trust Company, N.A. 

 2 North
LaSalle Street, Suite 1020 
 Chicago, IL 60602 
 Attn: Corporate Trust Division 
 Telecopy No.: (312) 827-8542 
  

	 	(ii)	any Grantor, to it at: 

 c/o Louisiana-Pacific Corporation

 414 Union Street, Suite 2000 
 Nashville, TN 37219 
 Attention: Mark Tobin, Treasurer 
 Telephone No.: 615-986-5856 
 Telecopy No.: 615-986-5880 
 with a copy to: 
 Louisiana-Pacific Corporation 

414 Union Street, Suite 2000 
 Nashville,
TN 37219 
 Attention; Mark Fuchs, General Counsel 
 Telephone No.: 615-986-5892 
 Telecopy No.: 615-986-5880 
  

	 	(iii)	any Additional Pari Passu Agent, to it at the address specified in the applicable Additional Pari Passu Joinder Agreement; 

 in each case, or to such other address as may be specified by such party to the other parties hereto in writing from time to time. 
 8.2 Indemnity 
 EACH GRANTOR
SHALL INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER SECURITY DOCUMENT, INCLUDING CLAIMS ARISING FROM THE NEGLIGENCE
OF AN INDEMNITEE. In no event shall any Grantor have any obligation thereunder to indemnify or hold harmless an Indemnitee to the extent a claim is determined in a final, non-appealable judgment by a court of competent jurisdiction to have
resulted from the gross negligence or willful misconduct of such Indemnitee. 
  

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 8.3 Reimbursement Obligations 
 Each Grantor shall be obligated to reimburse Agent, as part of the Obligations, for all fees, costs and expenses incurred by it in connection with this
Agreement, including without limitation, any fees, costs and expenses incurred by it in enforcing its rights and remedies under this Agreement and the Security Documents. 
 8.4 Successors and Assigns 
 This Agreement shall be binding upon Grantors and their respective
successors and assigns and shall inure to the benefit of Agent and its respective successors and assigns. 
 8.5 Changes in Writing

 No amendment, modification, termination or waiver of any provision of this Agreement shall be effective unless the same shall be in
writing signed by Agent. 
 8.6 GOVERNING LAW 
 THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). 

8.7 Consent to Forum 
 8.7.1 Forum 
 EACH GRANTOR HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT SITTING
IN OR WITH JURISDICTION OVER NEW YORK, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO THIS AGREEMENT, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH GRANTOR IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS
AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 8.1
HEREIN. Nothing herein shall limit the right of Agent to bring proceedings against any Grantor in any other court, nor limit the right of any party to serve process in any other manner permitted by applicable law. Nothing in this Agreement shall
be deemed to preclude enforcement by Agent of any judgment or order obtained in any forum or jurisdiction. 
  

 -24- 

 8.7.2 Waivers By Grantors 
 To the fullest extent permitted by applicable law, each party hereto waives (a) the right to trial by jury in any proceeding or dispute of any
kind relating in any way to this Agreement or any Security Document; (b) presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any commercial paper,
accounts, documents, instruments, chattel paper and guaranties at any time held by Agent on which each Grantor may in any way be liable, and hereby ratifies anything Agent may do in this regard; (c) notice prior to taking possession or control
of any Collateral; (d) any bond or security that might be required by a court prior to allowing Agent to exercise any rights or remedies; (e) the benefit of all valuation, appraisement and exemption laws; (f) any claim against Agent,
on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way relating to any enforcement action; and (g) notice of acceptance hereof. Each party hereto
acknowledges that the foregoing waivers are a material inducement to Agent entering into this Agreement and that Agent is relying upon the foregoing in its dealings with each Grantor. Each Grantor has reviewed the foregoing waivers with its legal
counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 
 8.8 Counterparts; Integration 
 This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement shall become effective when Agent has received counterparts
bearing the signatures of all parties hereto. Delivery of a signature page of this Agreement by telecopy or other electronic communication shall be effective as delivery of a manually executed counterpart of such agreement. 
 8.9 Permitted Additional Pari Passu Obligations 
 On or after the Issue Date, the Company may from time to time designate additional obligations as Permitted Additional Pari Passu Obligations by delivering to the Agent, the Trustee and each Additional Pari Passu
Agent (a) a certificate signed by the chief financial officer of the Company (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as
“Permitted Additional Pari Passu Obligations” for purposes hereof, (ii) representing that such designation complies with the terms of the Indenture and each then extant Additional Pari Passu Agreement, (iii) specifying the name
and address of the Additional Pari Passu Agent for such obligations (if other than the Trustee) and (iv) stating that the Grantors have complied with their obligations under Section 2.4; (b) except in the case of Additional Notes, a
fully executed Additional Pari Passu Joinder Agreement (in the form attached as Annex I); and (c) an Opinion of Counsel to the effect that the designation of such obligations as “Permitted Additional Pari Passu Obligations”
does not violate the terms of the Indenture and each then extant Additional Pari Passu Agreement (upon which the Agent may conclusively and exclusively rely). 
  

 -25- 

 8.10 Additional Grantors 
 If, pursuant to the terms of the Indenture or any Additional Pari Passu Agreement, the Company shall be required to cause any Subsidiary that is not a
Grantor to become a Grantor hereunder, such Subsidiary shall execute and deliver to the Agent a Joinder Agreement in the form of Annex II and shall thereafter for all purposes be a party hereto and have the same rights, benefits and
obligations as a Grantor party hereto on the Issue Date. 
 8.11 Intercreditor Matters 
 By accepting the benefits of this Agreement and the other Security Documents, each Secured Party agrees that it is bound by (i) the terms of the
Intercreditor Agreement applicable to such Secured Party and (ii) the provisions of Annex III. 
 8.12 Release of Liens

 Liens shall be released as provided in the Indenture with respect to liens securing the Notes and Additional Notes and each Additional
Pari Passu Agreement with respect to liens securing Permitted Additional Pari Passu Obligations. 
 [Signature page follows] 
  

 -26- 

 Witness the due execution hereof by the respective duly authorized officers of the undersigned as of the
date first written above. 
  

					
	 LOUISIANA-PACIFIC CORPORATION, a
 Delaware
corporation

		
	By:	 	/s/ Curtis M. Stevens
		 	Name:	 	Curtis M. Stevens
		 	Title:	 	 Executive Vice President,
 Administration, and Chief

 Executive Officer

	
	 GREENSTONE INDUSTRIES, INC., a Delaware
 corporation

		
	By:	 	/s/ Curtis M. Stevens
		 	Name:	 	Curtis M. Stevens
		 	Title:	 	 Vice President and Chief
 Financial
Officer

	
	 KETCHIKAN PULP COMPANY, a Washington
 corporation

		
	By:	 	/s/ Curtis M. Stevens
		 	Name:	 	Curtis M. Stevens
		 	Title:	 	 Vice President and Chief
 Financial
Officer

	
	 LOUISIANA-PACIFIC INTERNATIONAL, INC.,
 an
Oregon corporation

		
	By:	 	/s/ Curtis M. Stevens
		 	Name:	 	Curtis M. Stevens
		 	Title:	 	Vice President
	
	LPS CORPORATION, an Oregon corporation
		
	By:	 	/s/ Curtis M. Stevens
		 	Name:	 	Curtis M. Stevens
		 	Title:	 	Vice President

  

 -27- 

					
	 THE BANK OF NEW YORK MELLON TRUST
 COMPANY,
N.A., not in its individual capacity,
 but solely as Collateral Agent appointed under the
 Indenture, as Agent

		
	By:	 	/s/ Sharon McGrath
		 	Name:	 	Sharon McGrath
		 	Title:	 	Vice President

 Schedule 1 to 
 Security Agreement 
 Pledged Securities 

 Schedule 2 to 
 Security Agreement 
 Existing Restrictions 

 Schedule 2.3 to 
 Security Agreement 
 Mortgaged Property and Fixtures 

 Schedule 2.4.1 to 
 Security Agreement 
 Commercial Tort Claims 

 Schedule 4.5 to 
 Security Agreement 
 Corporate Names and Locations 

 Schedule 4.7 to 
 Security Agreement 
 Intellectual Property 

 Schedule 5.4 to 
 Security Agreement 
 Post-Closing Matters 
 1. Within 60 days after the Closing Date, deliver to the Agent updates to title search results substantially similar to those previously provided to the Initial
Purchasers. If any such updates to title search results reveal any lien that is not a Permitted Collateral Lien, Grantors shall take all steps necessary to terminate any such lien or take other steps to cause such lien to become a Permitted
Collateral Lien within 90 days after delivery of the updates to the title search results. 
 2. Within 60 days after the Closing Date, deliver to the Agent a
stock certificate representing all outstanding shares of capital stock of GreenStone Industries, Inc., and accompanying stock power, to replace the GSLP Merger Corp. stock certificate and stock power delivered to the Agent on the Closing Date.

 Annex I to 
 Security Agreement 
 FORM OF ADDITIONAL PARI PASSU JOINDER AGREEMENT 
 The undersigned (the “Additional Pari Passu Agent”) is the agent for Persons wishing to become “Secured Parties” (the “New
Secured Parties”) under the Security Agreement, dated as of March 10, 2009 (as amended and/or supplemented, the “Security Agreement” (terms used without definition herein have the meanings assigned to such terms by the Security
Agreement)) among Louisiana-Pacific Corporation, the other Grantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Agent (the “Agent”) and the other Security Documents. 
 In consideration of the foregoing, the undersigned hereby: 
 (i) represents that the Additional Pari Passu Agent has been authorized by the New Secured Parties to become a party to the Security Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE
AGREEMENT] (the “New Secured Obligations”) and to act as the Additional Pari Passu Agent for the New Secured Parties hereunder; 
 (ii) acknowledges that the New Secured Parties have received a copy of the Security Agreement; 
 (iii) irrevocably appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Security Agreement and the other Security Documents as are delegated to the Agent by the terms thereof,
together with all such powers as are reasonably incidental thereto; and 
 (iv) accepts and acknowledges the terms of
Agreement applicable to it and the New Secured Parties and agrees to serve as Additional Pari Passu Agent for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties
to be bound by the terms of the Security Agreement and the other Security Documents applicable to holders of Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof as fully as if it had
been a Secured Party on the effective date of the Security Agreement. 
 The name and address of the representative for purposes of
Section 8.1 of the Security Agreement are as follows: 
 [name and address of Additional Pari Passu Agent] 
  

 A-I-1 

 IN WITNESS WHEREOF, the undersigned has caused this Additional Pari Passu Joinder Agreement to be duly
executed by its authorized officer as of the              day of 20      . 
  

			
	[NAME]
		
	By: 	 	 
		 	Name:
		 	Title:

  

 A-I-2 

 Annex II to 
 Security Agreement 
 FORM OF JOINDER AGREEMENT 
 This JOINDER AGREEMENT, dated as of [                ],
20[    ], is delivered pursuant to Section 8.10 of the Security Agreement, dated as of March 10, 2009 (as amended and/or supplemented, the “Security Agreement” (terms used without definition herein have the
meanings assigned to such terms by the Security Agreement)), among Louisiana-Pacific Corporation, the other Grantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Agent (the “Agent”) and the other Security
Documents. Capitalized terms used herein but not defined herein are used with the meanings given them in the Security Agreement. 
 By
executing and delivering this Joinder Agreement, the undersigned, as provided in Section 8.10 of the Security Agreement, hereby becomes a party to the Security Agreement as a Grantor thereunder with the same force and effect as if originally
named as a Grantor therein and, without limiting the generality of the foregoing, hereby grants to the Agent, as collateral security for the full, prompt and complete payment and performance when due (whether at stated maturity, by acceleration or
otherwise) of the Obligations, hereby collaterally assigns, conveys, mortgages, pledges, hypothecates and transfers to the Agent and grants to the Agent Liens on and security interest in, all of its right, title and interest in, to and under the
Collateral and expressly assumes all obligations and liabilities of a Grantor thereunder. 
 The undersigned hereby represents and warrants
that each of the representations and warranties contained in the Security Agreement applicable to it is true and correct on and as the date hereof as if made on and as of such date. 
  

 A-II-1 

 IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	[ADDITIONAL GRANTOR]
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 ACKNOWLEDGED AND AGREED as of the date of this Joinder Agreement first above written.

	
	[                            ], not in its
individual capacity, but solely as Collateral Agent appointed under the Indenture, as Agent
		
	By:	 	  
		 	Name:
		 	Title:

  

 A-II-2 

 Annex III to 
 Security Agreement 
 THE COLLATERAL AGENT AND 
 SECURED PARTY ACKNOWLEDGMENTS1 
 Acknowledgment of Priorities of Security Interests and Liens; Application of Proceeds

 (a) Each of the Secured Parties acknowledges and agrees that notwithstanding the date, time or creation of any Liens securing any of the
Obligations under the Security Agreement or the Security Documents, the Obligations shall be equally and ratably secured by the Liens of the Security Agreement and the Security Documents and all Liens securing any of the Obligations (and any
proceeds received from the enforcement of any such Liens) shall be for the equal and ratable benefit of all Secured Parties shall be applied as provided in clause (c) below. Each Secured Party, by its acceptance of the benefits hereunder and of
the Security Documents, hereby agrees for the benefit of the other Secured Parties that, to the extent any additional or substitute collateral for any of the Obligations is delivered by a Grantor to or for the benefit of any Secured Party, such
collateral shall be subject to the provisions of this clause (a). 
 (b) Each of the Secured Parties hereby agrees not to challenge or
question in any proceeding the validity or enforceability of any Security Document (in each case as a whole or any term or provision contained therein) or the validity of any Lien or financing statement in favor of the Agent for the benefit of the
Secured Parties as provided in the Security Agreement and the other Security Documents, or the relative priority of any such Lien. Each Secured Party consents to the release of Trust Monies from the Collateral Account in accordance with
Section 11 of the Indenture.  
 (c) The proceeds received by the Agent in respect of any sale of, collection from or other
realization upon all or any part of the Collateral under this Agreement or any other Security Document shall be applied, together with any other sums then held by the Agent pursuant to this Agreement, promptly by the Agent as follows: 
 FIRST, to the payment of all costs and expenses, liabilities, fees, commissions and taxes paid or payable by the Agent under this Agreement or any
Security Document including, without limitation, the costs and expenses of the Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by the Agent in connection therewith; 
 SECOND, without duplication of amounts applied pursuant to clause FIRST above, to the payment in full in cash, pro rata, based on the
amount of Obligations outstanding under the Indenture and each Additional Pari Passu Agreement and then due and owing to (i) the Trustee to be applied as provided in the Indenture, and (ii) each Additional Pari Passu Agent to be applied as
provided in the applicable Additional Pari Passu Agreement; and 
  
  

	 1
	 Unless otherwise defined herein, all capitalized terms used herein and defined in the Security Agreement, are used
herein as therein defined. 

  

 S-4.7-1 

 THIRD, the balance, if any, to such Grantor or as otherwise directed by a court of competent jurisdiction.

 If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on
account of the Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or recovery in trust for the benefit of all Secured Parties for distribution in accordance with this Annex III.

 Enforcement. 
 Subject to the Agent’s
rights under Section 6 of the Agreement, the Required Secured Parties may direct the Agent in exercising any right or remedy available to the Agent under this Agreement or any Security Document. In the absence of any such instruction, the Agent
may (but shall be under no obligation to) exercise such rights and remedies in any manner that complies with Section 6 of the Agreement. 
  

 A-II-2Warrant Agreement

 Exhibit 4.4 
  
  
 WARRANT AGREEMENT 
 Between 
 LOUISIANA-PACIFIC CORPORATION

 and 
 COMPUTERSHARE TRUST
COMPANY, N.A. 
 as 
 Warrant Agent

  
  
 Dated as of March 10, 2009 
  
  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 SECTION 1.
	 	 Appointment of Warrant Agent
	  	5
			
	 SECTION 2.
	 	 Warrant Certificates
	  	5
			
	 SECTION 3.
	 	 Execution of Warrant Certificates
	  	5
			
	 SECTION 4.
	 	 Registration and Countersignature
	  	6
			
	 SECTION 5.
	 	 Transfer and Exchange of Warrants
	  	6
			
	 SECTION 6.
	 	 Registration of Transfers and Exchanges
	  	7
			
	 (a)
	 	 Transfer and Exchange of Warrants
	  	7
			
	 (b)
	 	 Exchange or Transfer of a Certificated Warrant for a Beneficial Interest in a Global Warrant
	  	8
			
	 (c)
	 	 Transfer or Exchange of Beneficial Interests in Global Warrants
	  	9
			
	 (d)
	 	 Transfer or Exchange of a Beneficial Interest in a Global Warrant for a Certificated Warrant
	  	9
			
	 (e)
	 	 Restrictions on Transfer or Exchange of Global Warrants
	  	11
			
	 (f)
	 	 Countersignature of Certificated Warrants in Absence of Depositary
	  	11
			
	 (g)
	 	 Cancellation or Adjustment of a Global Warrant
	  	11
			
	 (h)
	 	 Legends
	  	11
			
	 (i)
	 	 Obligations with Respect to Transfers and Exchanges of Certificated Warrants and Global Warrants
	  	12
			
	 SECTION 7.
	 	 Terms of Warrants; Exercise of Warrants
	  	12
			
	 SECTION 8.
	 	 Payment of Taxes
	  	14
			
	 SECTION 9.
	 	 Rule 144A
	  	14
			
	 SECTION 10.
	 	 Mutilated or Missing Warrant Certificates
	  	14
			
	 SECTION 11.
	 	 Reservation of Warrant Shares
	  	15
			
	 SECTION 12.
	 	 Obtaining Stock Exchange Listings
	  	15
			
	 SECTION 13.
	 	 Adjustment of Exercise Rate and Exercise Price
	  	16
			
	 (a)
	 	 Adjustment for Change in Capital Stock
	  	16
			
	 (b)
	 	 Adjustment for Issuances at Less Than Exercise Price
	  	16
			
	 (c)
	 	 Adjustment for Distributions and Spin-Offs
	  	17
			
	 (d)
	 	 Participation by Warrantholders
	  	19
			
	 (e)
	 	 Valuation Upon a Liquidating Distribution
	  	19
			
	 (g)
	 	 Fundamental Transactions
	  	20

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	 (h)
	 	Other Events	  	21
			
	 (i)
	 	Adjustment of Exercise Price	  	21
			
	 (j)
	 	Company Determination Final	  	21
			
	 (k)
	 	Warrant Agent’s Adjustment Disclaimer	  	21
			
	 (l)
	 	Specificity of Adjustment	  	22
			
	 (m)
	 	Voluntary Adjustment	  	22
			
	 (n)
	 	Multiple Adjustments	  	22
			
	 (o)
	 	When De Minimis Adjustment May Be Deferred	  	22
			
	 (p)
	 	Amendments of the Certificate of Incorporation	  	22
			
	 (q)
	 	Exclusion of Rights Plan	  	22
			
	 (r)
	 	Tax Adjustments	  	23
			
	 (s)
	 	No Adjustment for Certain Events	  	23
			
	 SECTION 14.
	 	 Fractional Interests
	  	23
			
	 SECTION 15.
	 	 Notice of Certain Distributions; Certain Rights
	  	24
			
	 SECTION 16.
	 	 Notices to the Company and Warrant Agent
	  	24
			
	 SECTION 17.
	 	 Supplements and Amendments
	  	25
			
	 SECTION 18.
	 	 Concerning the Warrant Agent
	  	26
			
	 SECTION 19.
	 	 Change of Warrant Agent
	  	28
			
	 SECTION 20.
	 	 Successors
	  	29
			
	 SECTION 21.
	 	 Termination
	  	29
			
	 SECTION 22.
	 	 Governing Law
	  	29
			
	 SECTION 23.
	 	 Benefits of This Agreement
	  	29
			
	 SECTION 24.
	 	 Counterparts
	  	29
			
	 SECTION 25.
	 	 Force Majeure
	  	29
			
	 SECTION 26.
	 	 Priorities
	  	29

  

 -ii- 

					
	 Exhibit A
	  	 Common Stock Warrant of Louisiana-Pacific Corporation
	  	A-1
	 Exhibit B(1)
	  	 Global Warrant Legend
	  	B(1)-1
	 Exhibit B(2)
	  	 Unit Legend
	  	B(2)-1
	 Exhibit C
	  	 Certificate to be Delivered Upon Exchange or Registration of Transfer of Warrants
	  	C-1
	 Exhibit D
	  	 Form of Transferee Letter of Representation in Connection with Transfers to Institutional Accredited Investors
	  	D-1
	 Exhibit E
	  	 Form of Transferee Letter of Representation in Connection with Transfers Pursuant to Regulation S
	  	E-1

  

 iii 

 WARRANT AGREEMENT (the “Agreement”), dated as of March 10, 2009, between
LOUISIANA-PACIFIC CORPORATION, a Delaware corporation (together with any successors and assigns, the “Company”), and COMPUTERSHARE TRUST COMPANY, N.A., a banking corporation and trust company organized under the laws of the United
States, as warrant agent (with any successor warrant agent, the “Warrant Agent”). 
 A. Pursuant to a purchase agreement
(the “Purchase Agreement”) dated March 3, 2009 among the Company, the Guarantors named therein, Banc of America Securities LLC, Goldman, Sachs & Co. and RBC Capital Markets Corporation, as representatives of the
Initial Purchasers named in the Purchase Agreement, the Company has agreed to sell to the Initial Purchasers 375,000 units (the “Units”), each consisting of (i) $1,000 principal amount at maturity of 13% Senior Secured Notes
due 2017 (the “Notes”) of the Company and (ii) one warrant (collectively, the “Warrants”), each Warrant initially entitling the Holder (as defined herein) thereof to purchase 49.0559 shares of Common Stock (as
defined herein) of the Company, on the terms and subject to the conditions set forth herein, at the Exercise Price (as defined herein). 
 B.
The Holders of the Warrants are entitled to the benefits of a Warrant Registration Rights Agreement dated as of March 10, 2009 by and among the Company and the Initial Purchasers (the “Warrant Registration Rights Agreement”).

 C. The Company desires the Warrant Agent as warrant agent to assist the Company in connection with the issuance, exchange, cancellation,
replacement and exercise of the Warrants, and in this Agreement wishes to set forth, among other things, the terms and conditions on which the Warrants may be issued, exchanged, canceled, replaced and exercised. 
 NOW, THEREFORE, in consideration of the premises and mutual agreements herein, the Company and the Warrant Agent hereby agree as follows: 
 Defined terms used in this Agreement shall, unless the context otherwise requires, have the meanings specified below. Certain additional terms are set
forth elsewhere in this Agreement. Any reference to any section of applicable law shall be deemed to include successor provisions thereto. 
 “Affiliate” has the meaning given to it in the Indenture. 
 “Agreement” has the meaning given to
it in the preamble above. 
 “Board of Directors” means the board of directors of the Company or any duly authorized
committee thereof. 
 “Business Day” means any day that is not a Saturday, Sunday or a day on which banking institutions in
New York are authorized or required by law to be closed. 
 “Capital Stock” means, with respect to any Person, any and all
shares, interests, participations, rights in or other equivalents (however designated and whether voting or non-voting) of such Person’s capital stock, whether outstanding on the Issue Date or issued after the Issue Date, and any and all rights
(other than any evidence of indebtedness), warrants or options exchangeable for or convertible into such capital stock. 

 “Cashless Exercise Ratio” has the meaning given to it in Section 7. 
 “Certificated Warrant” means a definitive warrant in registered form. 
 “class” means, when referring to any Capital Stock, any class or series of such Capital Stock. 
 “Clearstream” means Clearstream Banking, Societe Anonyme, Luxembourg. 
 “Common Stock” means the Common Stock of the Company, par value $1.00 per share. 
 “Company” has the meaning given to it in the preamble above. 
 “Daily Exercise Value” means, with respect to any Trading Day, 1/20th of the Volume Weighted Average Price per share of the Common Stock
on such Trading Day. 
 “Depositary” has the meaning given to it in Section 2. 
 “Direct Participant” means, with respect to the Depositary (as defined in Section 2), Euroclear or Clearstream, a Person who has an
account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream). 
 “DTC” has the meaning given to it in Section 2. 
 “Election to
Exercise” has the meaning given to it in Section 7. 
 “Euroclear” means Morgan Guaranty Trust Company of New
York, Brussels office, as operator of the Euroclear System. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Exercise Date” with respect to a Warrant means the date on which the Holder of the Warrant has complied with
all requirements described in Section 7 for exercising such Warrant. 
 “Exercise Price” has the meaning given to it in
Section 7. 
 “Exercise Rate” has the meaning given to it in Section 13. 
 “Exercise Reference Period” means the period of 20 consecutive Trading Days ending on the Trading Day immediately preceding the Exercise
Date. 
 “Exercise Value” means the sum of the Daily Exercise Values for each of the 20 consecutive trading days of the
applicable Exercise Reference Period. 
 “Expiration Date” means March 15, 2017. 
  

 2 

 “Fundamental Transaction” has the meaning given to it in Section 13. 
 “Global Shares” has the meaning given to it in Section 7. 
 “Global Warrants” has the meaning given to it in Section 2. 
 “Guarantor” has the meaning given to it in the Indenture. 
 “Holders” has the meaning given to it in Section 4. 
 “Indenture”
means the indenture dated as of March 10, 2009 between the Company and the Trustee, relating to the Notes. 
 “Indirect
Participant” means a person who holds a beneficial interest in a Global Warrant (as defined in Section 2) through a Direct Participant. 
 “Initial Purchasers” means Banc of America Securities LLC, Goldman, Sachs & Co., and RBC Capital Markets Corporation. 
 “Institutional Accredited Investor” has the meaning given to it in Section 6. 
 “Issue Date” means March 10, 2009. 
 “Last Reported Sale Price” means, for the Common Stock on any date, the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than
one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is listed for trading. If the
Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, then the “Last Reported Sale Price” will be the last quoted bid price for the Common Stock in the over-the-counter market on
the relevant date as reported by the National Quotation Bureau or similar organization. If the Common Stock is not so quoted, the “Last Reported Sale Price” will be the average of the mid-point of the last bid and ask prices for the Common
Stock on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 
 “Liquidating Distribution” has the meaning given to it in Section 13. 
 “Market Disruption Event” means (a) a failure by the primary exchange or quotation system on which the Common Stock trades or is quoted, as the case may be, to open for trading during its regular trading session or
(b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Trading Day for an aggregate one-half hour period of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by
the stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 
 “Notes” has the meaning given to it in the preamble above. 
  

 3 

 “Officers’ Certificate” means a certificate signed by two officers of the Company,
one of whom must be the principal executive officer, principal financial officer or principal accounting officer. 
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision
thereof. 
 “Private Placement Legend” has the meaning given to it in Section 6(h). 
 “Purchase Agreement” has the meaning given to it in the preamble above. 
 “QIB” has the meaning given to it in Section 6. 
 “Rule 144A” has the meaning given to it in Section 6. 
 “SEC” means
the Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Separation Date” means the earlier to occur of (i) 180 days after the Issue Date and (ii) such date as Banc of America
Securities LLC in its sole discretion shall determine. 
 “Share Purchase Rights” means any rights to purchase
capital stock of any Person pursuant to a customary “poison pill” rights plan, including without limitation the rights plan established pursuant to the Rights Agreement, dated as of May 23, 2008, between the Company and Computershare
Trust Company, N.A., as rights agent, and any successor or replacement rights plan containing substantially similar terms. 
 “Trading Day” is any day on which trading in the Common Stock generally occurs and there is no Market Disruption Event. 
 “Transfer Agent” has the meaning given to it in Section 11. 
 “Trustee” means The Bank of
New York Mellon Trust Company, N.A., the trustee under the Indenture. 
 “Units” has the meaning given to it in the preamble
above. 
 “Volume Weighted Average Price” per share of Common Stock on any Trading Day means the per share volume-weighted
average price on The New York Stock Exchange as displayed under the heading “Bloomberg VWAP” on Bloomberg page “LPX<equity>VAP” (or any successor page thereto) in respect of the period from the scheduled open of trading
until the scheduled close of trading on the primary trading session on such trading day (or if such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such Trading Day as determined in a commercially
reasonable manner by the Board of Directors using a volume-weighted method) and will be determined without regard to after hours trading or any other trading outside of the regular trading session. 
  

 4 

 “Warrants” has the meaning given to it in the preamble above. 
 “Warrant Agent” has the meaning given to it in the preamble above. 
 “Warrant Certificates” has the meaning given to it in Section 2. 
 “Warrantholders” has the meaning given to it in Section 4. 
 “Warrant Registration Rights Agreement” has the meaning given to it in the preamble above. 
 “Warrant Register” has the meaning given to it in Section 4. 
 “Warrant Shares” means the shares of Common Stock issuable upon exercise of Warrants from time to time. 
 SECTION 1. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the
instructions hereinafter set forth in this Agreement, and the Warrant Agent hereby accepts such appointment. 
 SECTION 2. Warrant
Certificates. The certificates representing the Warrants (“Warrant Certificates”) will initially be issued in the form of one or more registered global warrants (the “Global Warrants”) substantially in the form
of Exhibit A attached hereto, which shall be deposited with the Warrant Agent, as custodian for the Depositary (as defined below), and registered in the name of DTC (as defined below) or the nominee of DTC for credit to the accounts of DTC’s
Direct and Indirect Participants. Any Global Warrants to be delivered pursuant to this Agreement shall bear the legend set forth in Exhibit B(1) attached hereto. The Global Warrants shall represent such of the outstanding Warrants as shall be
specified therein, and each Global Warrant shall provide that it shall represent the aggregate amount of outstanding Warrants from time to time endorsed thereon and that the aggregate amount of outstanding Warrants represented thereby may from time
to time be reduced or increased, as appropriate. Any endorsement of a Global Warrant to reflect the amount of any increase or decrease in the amount of outstanding Warrants represented thereby shall be made by the Warrant Agent and the Depositary in
accordance with instructions given by the Holder thereof. The Depository Trust Company (“DTC”) shall act as the “Depositary” with respect to the Global Warrants until a successor shall be appointed by the Company and the
Warrant Agent. Certificated Warrants will only be issued if (a) DTC notifies the Company that DTC is no longer willing or able to act as a depositary for the Global Warrants and the Company is unable to locate a qualified successor within 90
days, or (b) DTC notifies the Company that DTC has ceased to be a clearing agency registered under the Exchange Act. 
 SECTION 3.
Execution of Warrant Certificates. Warrant Certificates shall be signed on behalf of the Company by its Chairman of the Board, President, Chief Executive Officer, a Vice President, Treasurer, an Assistant Treasurer or Chief Financial Officer
and by a Vice President, its Secretary or an Assistant Secretary. Each such signature upon the Warrant Certificates may be in the form of a facsimile signature of any such present or future officer and may be imprinted or otherwise reproduced on the
Warrant Certificates. 
  

 5 

 In case any officer of the Company who shall have signed any of the Warrant Certificates shall cease to
be such officer before the Warrant Certificates so signed shall have been countersigned by the Warrant Agent, or disposed of by the Company, such Warrant Certificates nevertheless may be countersigned and delivered or disposed of as though such
person had not ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by any person who, at the actual date of the execution of such Warrant Certificate, shall be a proper officer of the Company
to sign such Warrant Certificate, although at the date of the execution of this Warrant Agreement any such person was not such officer. 
 Warrant Certificates shall be dated the date of countersignature by the Warrant Agent. 
 SECTION 4. Registration and
Countersignature. The Warrants shall be numbered and shall be registered on the books of the Company maintained at the principal office of the Warrant Agent in Canton, Massachusetts (the “Warrant Register”) as they are issued.

 Warrant Certificates shall be manually countersigned by the Warrant Agent and shall not be valid for any purpose unless so countersigned.
The Warrant Agent shall, upon written instructions of the Chairman of the Board, the President, Chief Executive Officer, a Vice President, the Treasurer, an Assistant Treasurer, Chief Financial Officer, Secretary or an Assistant Secretary of the
Company, initially countersign and deliver Warrants entitling the Holders thereof to purchase not more than the number of Warrant Shares referred to above in the first recital hereof and shall thereafter countersign and deliver Warrants as otherwise
provided in this Agreement. 
 The Company and the Warrant Agent may deem and treat the registered holders (the “Holders” or
“Warrantholders”) of the Warrant Certificates as the absolute owners thereof (notwithstanding any notation of ownership or other writing thereon made by anyone) for all purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. 
 SECTION 5. Transfer and Exchange of Warrants. The Warrant Agent shall from time to time,
subject to the limitations of Section 6, register the transfer of any outstanding Warrants upon the records to be maintained by it for that purpose, upon surrender thereof duly endorsed or accompanied (if so required by it) by a written
instrument or instruments of transfer in form satisfactory to the Warrant Agent, duly executed by the registered Holder or Holders thereof or by the duly appointed legal representative thereof or by a duly authorized attorney. Subject to the terms
of this Agreement, each Warrant Certificate may be exchanged for another certificate or certificates entitling the Holder thereof to purchase a like aggregate number of Warrant Shares as the certificate or certificates surrendered then entitle each
Holder to purchase. Any Holder desiring to exchange a Warrant Certificate or Certificates shall make such request in writing delivered to the Warrant Agent, and shall surrender, duly endorsed or accompanied (if so required by the Warrant Agent) by a
written instrument or instruments of transfer in form satisfactory to the Warrant Agent, the Warrant Certificate or Certificates to be so exchanged. 
 Upon registration of transfer, the Company shall execute and the Warrant Agent shall countersign and deliver by certified mail a new Warrant Certificate or Certificates to the persons entitled thereto. The Warrant
Certificates may be exchanged at the option of the Holder thereof, 

  

 6 

 
when surrendered at the office or agency of the Company maintained for such purpose, which initially will be the principal office of the Warrant Agent in
Canton, Massachusetts for another Warrant Certificate, or other Warrant Certificates of different denominations, of like tenor and representing in the aggregate the right to purchase a like number of Warrant Shares. 
 No service charge shall be made for any exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum
sufficient to cover any stamp or other tax or other governmental charge that is imposed in connection with any such exchange or registration of transfer. 
 SECTION 6. Registration of Transfers and Exchanges. 
 (a) Transfer and Exchange of Warrants.
When Warrants are presented to the Warrant Agent with a request: 
 (i) to register the transfer of the Warrants; or

 (ii) to exchange such Warrants for an equal number of Warrants of other authorized denominations, 
 the Warrant Agent shall register the transfer or make the exchange as requested if (and may refuse to register any transfer or exchange unless) the requirements under
this Agreement as set forth in this Section 6 for such transactions are met; provided, however, that the Warrants presented or surrendered for registration of transfer or exchange: 
  

	 	(x)	shall be duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Company and the Warrant Agent, duly executed by the Holder thereof or by his
or her representative, duly authorized in writing, and affixed with a signature guarantee from a guarantor participating in a medallion signature guarantee program approved by the Securities Transfer Association; and 

  

	 	(y)	unless the Private Placement Legend has been removed from the certificate evidencing such Warrants, such Warrants shall be accompanied, in the sole discretion of the Company, by the
following additional information and documents, as applicable, it being understood, however, that the Warrant Agent need not determine which clause (A) through (F) below is applicable: 

  

	 	(A)	if such Warrant is being delivered to the Warrant Agent by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect
(in substantially the form of Exhibit C hereto); or 

  

	 	(B)	if such Warrant is being transferred to a qualified institutional buyer (as defined in Rule 144A under the Securities Act (“Rule 144A”)) (a “QIB”)
in accordance with Rule 144A under the Securities Act, a certification to that effect (in substantially the form of Exhibit C hereto); or 

  

 7 

	 	(C)	if such Warrant is being transferred to an institutional accredited investor within the meaning of subparagraph (a)(1), (a)(2), (a)(3) or (a)(7) of Rule 501 under the Securities Act
(an “Institutional Accredited Investor”), delivery by the transferor of a certification to that effect (in substantially the form of Exhibit C hereto), and delivery of a Transferee Letter of Representation in connection with
Transfers to Institutional Accredited Investors (in substantially the form of Exhibit D hereto) and an opinion of counsel and/or other information reasonably acceptable to the Company and the Warrant Agent to the effect that such transfer is in
compliance with the Securities Act; or 

  

	 	(D)	if such Warrant is being transferred in reliance on Regulation S under the Securities Act, delivery by the transferor of a certification to that effect (in substantially the form of
Exhibit C hereto), and a Transferee Letter of Representation in connection with Transfers pursuant to Regulation S in the form of Exhibit E hereto; or 

  

	 	(E)	if such Warrant is being transferred in reliance on Rule 144 under the Securities Act, delivery by the transferor of (i) a certification from the transferor to that effect (in
substantially the form of Exhibit C hereto), and (ii) an opinion of counsel reasonably satisfactory to the Company and the Warrant Agent to the effect that such transfer is in compliance with the Securities Act; or 

  

	 	(F)	if such Warrant is being transferred in reliance on another exemption from the registration requirements of the Securities Act, a certification to that effect from the transferee or
transferor (in substantially the form of Exhibit C hereto), and an opinion of counsel from the transferee or transferor reasonably acceptable to the Company and the Warrant Agent to the effect that such transfer is in compliance with the Securities
Act. 

 (b) Exchange or Transfer of a Certificated Warrant for a Beneficial Interest in a Global Warrant. A Certificated
Warrant may not be exchanged (including in connection with any transfer of a Warrant) by a Holder for a beneficial interest in a Global Warrant except upon satisfaction of the requirements set forth below. Upon receipt by the Warrant Agent of a
Certificated Warrant, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Warrant Agent, together with: 
 (i) unless the Private Placement Legend has been removed from the certificate evidencing the Warrants, certification from such Holder (in substantially the form of Exhibit C hereto) that such Holder is a QIB or that
such Certificated Warrant is being transferred to a QIB in accordance with Rule 144A under the Securities Act; and 
  

 8 

 (ii) written instructions directing the Warrant Agent to make, or to direct the
Depositary to make, an endorsement on the Global Warrant to reflect an increase in the aggregate amount of the Warrants represented by the Global Warrant, 
 then the Warrant Agent shall cancel such Certificated Warrant and cause, or direct the Depositary to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Warrant Agent, the number of
Warrants represented by the Global Warrant to be increased accordingly. If no Global Warrant is then outstanding, the Company shall issue and the Warrant Agent shall upon written instructions from the Company authenticate a new Global Warrant in the
appropriate amount. 
 (c) Transfer or Exchange of Beneficial Interests in Global Warrants. The transfer or exchange of beneficial
interests in Global Warrants shall be effected through the Depositary, in accordance with this Section 6, the Private Placement Legend, the other provisions of this Agreement (including the restrictions on transfer set forth herein) and the
procedures of the Depositary therefor. 
 (d) Transfer or Exchange of a Beneficial Interest in a Global Warrant for a Certificated
Warrant. 
 (i) Subject in all cases to the provisions of Section 2, any Person having a beneficial interest in a
Global Warrant may exchange (including any exchange in connection with any transfer of a Warrant) such beneficial interest for a Certificated Warrant upon receipt by the Warrant Agent of written instructions or such other form of instructions as is
customary for the Depositary from the Depositary or its nominee on behalf of any Person having a beneficial interest in a Global Warrant, including a written order containing registration instructions and, unless the Private Placement Legend has
been removed from the certificate evidencing such Global Warrants, the following additional information and documents: 
  

	 	(A)	if such beneficial interest is being exchanged by the Person designated by the Depositary as being the beneficial owner, a certification from such Person to that effect (in
substantially the form of Exhibit C); or 

  

	 	(B)	if such beneficial interest is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certification from the transferor to that effect (in substantially
the form of Exhibit C); or 

  

	 	(C)	 if such beneficial interest is being transferred to an Institutional Accredited Investor, delivery by the transferor of a certification to that effect (in
substantially the form of 

  

 9 

	 	 
Exhibit C hereto), and delivery of a Transferee Letter of Representation in connection with Transfers to Institutional Accredited Investors to that effect
(in substantially the form of Exhibit D) and an opinion of counsel and/or other information reasonably acceptable to the Company and the Warrant Agent to the effect that such transfer is in compliance with the Securities Act; or

  

	 	(D)	if such beneficial interest is being transferred in reliance on Regulation S under the Securities Act, delivery of (i) a certification to that effect (in substantially the form
of Exhibit C hereto) and (ii) a Transferee Letter of Representation in connection with Transfers pursuant to Regulation S in the form of Exhibit E hereto; or 

  

	 	(E)	if such beneficial interest is being transferred in reliance on Rule 144 under the Securities Act, delivery by the transferor of (i) a certification to that effect (in
substantially the form of Exhibit C hereto) and (ii) an opinion of counsel reasonably satisfactory to the Company and the Warrant Agent to the effect that such transfer is in compliance with the Securities Act; or 

  

	 	(F)	if such beneficial interest is being transferred in reliance on another exemption from the registration requirements of the Securities Act, a certification to that effect from the
transferee or transferor (in substantially the form of Exhibit C hereto) and an opinion of counsel and/or other information reasonably acceptable to the Company and the Warrant Agent to the effect that such transfer is in compliance with the
Securities Act (if such transfer is made specifically pursuant to Regulation S, the transferor must also deliver a Letter of Representation in connection with Transfers pursuant to Regulation S in substantially the form of Exhibit E hereto).

 In connection with any such transfer or exchange, Warrant Agent will cause, in accordance with the standing instructions and procedures
existing between the Depositary and the Warrant Agent, the aggregate amount of the Global Warrant to be reduced accordingly and, following such reduction, the Company will execute and, upon receipt of a countersignature order in the form of an
Officers’ Certificate, the Warrant Agent will countersign and deliver to the transferee a Certificated Warrant. 
 (ii)
Certificated Warrants issued in exchange for or in connection with a transfer of a beneficial interest in a Global Warrant pursuant to this Section 6 shall be registered in such names and in such authorized denominations as the Depositary,
pursuant to instructions from its Direct or Indirect Participants or otherwise, shall instruct 

  

 10 

 
the Warrant Agent in writing. The Warrant Agent shall deliver such Certificated Warrants to the Persons in whose names such Warrants are so registered and
adjust the Global Warrant pursuant to paragraph (g) of this Section 6. 
 (e) Restrictions on Transfer or Exchange of Global
Warrants. Notwithstanding any other provisions of this Agreement (other than the provisions set forth in subsection (f) of this Section 6), a Global Warrant may not be transferred or exchanged as a whole except by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
 (f) Countersignature of Certificated Warrants in Absence of Depositary. If at any time: 
 (i) the Depositary for the Global Warrants notifies the Company that the Depositary is no longer willing or able to act as a depositary
for the Global Warrants and the Company is unable to locate a qualified successor within 90 days; or 
 (ii) the Depositary
for the Global Warrants notifies the Company that it has ceased to be a clearing agency registered under the Exchange Act, as amended, 
 then the Company
will execute, and the Warrant Agent will, upon receipt of an Officers’ Certificate requesting the countersignature and delivery of Certificated Warrants, countersign and deliver Certificated Warrants in an aggregate number equal to the
aggregate number of Warrants represented by the Global Warrant in exchange for such Global Warrant. 
 (g) Cancellation or Adjustment of a
Global Warrant. At such time as all beneficial interests in a Global Warrant have either been exchanged for Certificated Warrants, redeemed, repurchased or canceled, such Global Warrant shall be returned to the Company or, upon written order to
the Warrant Agent in the form of an Officers’ Certificate from the Company, retained and canceled by the Warrant Agent. At any time prior to such cancellation, if any beneficial interest in a Global Warrant is exchanged for Certificated
Warrants, redeemed, repurchased or canceled, the number of Warrants represented by such Global Warrant shall be reduced accordingly and an endorsement shall be made on such Global Warrant by the Warrant Agent to reflect such reduction. 

(h) Legends. 
 (i)
Private Placement Legend. Except as provided below, each Warrant Certificate evidencing the Warrants (and all Warrants issued in exchange therefor or substitution thereof and, if the Company deems appropriate, Warrant Shares issuable upon
exercise of the Warrants) shall bear a legend substantially to the effect set forth in Exhibit A (the “Private Placement Legend”). Upon any sale or transfer of a Warrant or Warrant Share pursuant to Rule 144 under the Securities Act in
accordance with this Section 6 or under an effective registration statement under the Securities Act, the Warrant Agent shall permit the Holder of a Warrant to exchange such Warrant for a Warrant and the Company shall permit the holder of a
Warrant Share to exchange such Warrant Share for a share of Common Stock, in each case, that does not bear the Private 

  

 11 

 
Placement Legend, provided that, in the case of a sale or transfer pursuant to Rule 144 under the Securities Act, an opinion of the Company or of counsel to
the Company is tendered therewith indicating that there are no impediments to the removal of such Private Placement Legend under the applicable federal securities laws of the United States. 
 (ii) Unit Legend. Each Warrant issued prior to the Separation Date shall bear a legend substantially to the effect set forth in
Exhibit B(2). 
 (i) Obligations with Respect to Transfers and Exchanges of Certificated Warrants and Global Warrants. 
 (i) To permit registrations of transfers and exchanges, the Company shall execute, at the Warrant Agent’s request, and the Warrant
Agent shall authenticate Certificated Warrants and Global Warrants. 
 (ii) All Certificated Warrants and Global Warrants
issued upon any registration, transfer or exchange of Certificated Warrants and Global Warrants shall be the valid obligations of the Company, entitled to the same benefits under this Agreement as the Certificated Warrants and Global Warrants
surrendered upon the registration of transfer or exchange. 
 (iii) Prior to due presentment for registration of transfer of
any Warrant, the Warrant Agent and the Company may deem and treat the Person in whose name any Warrant is registered as the absolute owner of such Warrant, and neither the Warrant Agent nor the Company shall be affected by notice to the contrary.

 SECTION 7. Terms of Warrants; Exercise of Warrants. Subject to the terms of this Agreement, each Holder of Warrants shall have the
right, which may be exercised commencing on or after the Separation Date and until 5:00 p.m., New York City time, on the Expiration Date, to receive from the Company upon the delivery of written notice, which may be provided via e-mail or facsimile,
the number of fully paid and nonassessable Warrant Shares which the holder may at the time be entitled to receive on exercise of such Warrants and payment of the Exercise Price (as defined below) for such Warrant Shares. Each Warrant not exercised
prior to 5:00 p.m., New York City time, on the Expiration Date shall become void and all rights thereunder and all rights in respect thereof under this Agreement shall cease as of such time. No adjustments in respect of dividends, interest or other
income on or from any Warrant Share (or any other securities, property or other consideration for which a Warrant may become exercisable in accordance with this Agreement) will be made during the term of a Warrant or upon exercise of a Warrant.

 The price per share at which Warrant Shares shall be purchasable upon exercise of Warrants (the “Exercise Price”) shall
be equal to $1.39, subject to adjustment pursuant to Section 13. A Warrant may be exercised upon surrender at the office or agency of the Company maintained for such purpose, which initially will be the principal office of the Warrant Agent in
Canton, Massachusetts of the Warrant Certificate or Certificates evidencing the Warrants to be exercised with the form of election to purchase on the reverse thereof (the “Election to Exercise”) 

  

 12 

 
properly completed and signed, which signature shall be guaranteed in accordance with the provisions set forth in the Warrant Certificate, together with
payment of the Exercise Price. Payment of the Exercise Price shall be made only by the surrender of one or more Warrants (and without the payment of the Exercise Price in cash) in exchange for a number of shares of the Company’s Common Stock
equal to the product of (a) the number of shares of the Company’s Common Stock for which such Warrant or Warrants are exercisable as of the Exercise Date (determined as if the Exercise Price were being paid in cash), and (b) the
Cashless Exercise Ratio. The “Cashless Exercise Ratio” shall equal a fraction, (i) the numerator of which is the excess of (A) the Exercise Value per share of Common Stock for the applicable Exercise Reference Period over
(B) the Exercise Price as of the Exercise Date and (ii) the denominator of which is the Exercise Value per share of Common Stock for such Exercise Reference Period. Upon surrender of a Warrant Certificate representing more than one
Warrant, the number of shares of Common Stock deliverable shall be equal to the product of (x) the number of shares of the Company’s Common Stock issuable in respect of those Warrants that the Holder specifies are to be exercised
multiplied by (y) the Cashless Exercise Ratio. All provisions of this Agreement are applicable with respect to an exercise of a Warrant Certificate for less than the full number of Warrants represented thereby. 
 The “Exercise Date” for a Warrant shall be the date when all of the items referred to in the immediately preceding paragraph are
received by the Warrant Agent at or prior to 11:00 a.m., New York City time, on a Business Day and the exercise of the Warrants will be effective as of such Exercise Date. If any items referred to in such paragraph are received after 11:00 a.m., New
York City time, on a Business Day, the exercise of the Warrants to which such item relates will be effective on the next succeeding Business Day. Notwithstanding the foregoing, in the case of an exercise of Warrants on the Expiration Date, if all of
the items referred to in such paragraph are received by the Warrant Agent at or prior to 5:00 p.m., New York City time, on the Expiration Date, the exercise of the Warrants to which such items relate will be effective on the Expiration Date.

 Within three Trading Days after the Exercise Date, subject to the provisions of Section 6 hereof, the Company shall issue and cause
to be delivered to or upon the written order of the Holder, and in such name or names as the Holder may designate, a certificate or certificates for the number of Warrant Shares issuable upon the exercise of such Warrants. Such certificate or
certificates shall be deemed to have been issued and any Person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares as of the Exercise Date. At the election of the Company with the consent of
the holder of record of the relevant Warrant Shares, Warrant Shares may initially be issued in global form (the “Global Shares”). Such Global Shares shall represent such of the outstanding Warrant Shares as shall be specified
therein and each Global Share shall provide that it represents the aggregate amount of outstanding Warrant Shares from time to time endorsed thereon and that the aggregate amount of outstanding Warrant Shares represented thereby may from time to
time be reduced or increased, as appropriate. Any endorsement of a Global Share to reflect any increase or decrease in the amount of outstanding Warrant Shares represented thereby shall be made by the registrar for the Warrant Shares and the
Depositary (referred to below) in accordance with instructions given by the holder thereof. DTC shall (if possible) act as the Depositary with respect to the Global Shares until a successor shall be appointed by the Company and the registrar for the
Warrant Shares. 
  

 13 

 Each Warrant shall be exercisable only in whole. In the event that a certificate evidencing Warrants is
exercised in respect of fewer than all of the Warrants evidenced thereby at any time prior to the Expiration Date, a new certificate evidencing the remaining Warrant or Warrants will be issued, and the Warrant Agent is irrevocably authorized to
countersign and to deliver the required new Warrant Certificate or Certificates pursuant to this Agreement, and the Company, whenever required by the Warrant Agent, will promptly supply the Warrant Agent with Warrant Certificates duly executed on
behalf of the Company for such purpose. Holders of Warrants will be able to exercise their Warrants only if a registration statement relating to the Warrant Shares underlying the Warrants is then in effect, or the exercise of such Warrants is exempt
from the registration requirements of the Securities Act, and such securities are qualified for sale or exempt from qualification under the applicable securities laws of the states in which the various Holders of Warrants or other persons to whom it
is proposed that Warrant Shares be issued on exercise of the Warrants reside. 
 All Warrant Certificates surrendered upon exercise of
Warrants shall be canceled by the Warrant Agent. Such canceled Warrant Certificates shall then be disposed of by the Warrant Agent in a manner consistent with the Warrant Agent’s customary procedure for such disposal and in a manner reasonably
satisfactory to the Company. The Warrant Agent shall account promptly to the Company with respect to Warrants exercised. 
 The Warrant Agent
shall keep copies of this Agreement and any notices given or received hereunder available for inspection by the Holders during normal business hours at its office. The Company shall supply the Warrant Agent from time to time with such numbers of
copies of this Agreement as the Warrant Agent may request. 
 SECTION 8. Payment of Taxes. The Company will pay all documentary stamp
taxes attributable to the initial issuance of Warrant Shares upon the exercise of Warrants; provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in
the issue of any Warrant Certificates or any certificates for Warrant Shares in a name other than that of the registered Holder of a Warrant Certificate surrendered upon the exercise of a Warrant, and the Company shall not be required to issue or
deliver such Warrant Certificates unless or until the Person or Persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

 SECTION 9. Rule 144A. The Company covenants that it will file the reports required to be filed by it under the Securities Act and
the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner (including any extensions permitted by Rule 12b-25 of the Exchange Act (or any successor rule or regulation)) in accordance with the requirements of the
Securities Act and the Exchange Act and, if at any time the Company is not required to file such reports, it will, upon the request of any Holder or beneficial owner of Warrants, make available such information necessary to permit sales pursuant to
Rule 144A under the Securities Act. 
 SECTION 10. Mutilated or Missing Warrant Certificates. In case any of the Warrant Certificates
shall be mutilated, lost, stolen or destroyed, the Company may at its discretion issue and the Warrant Agent may countersign, in exchange and substitution for and 

  

 14 

 
upon cancellation of the mutilated Warrant Certificate, or in lieu of and substitution for the Warrant Certificate lost, stolen or destroyed, a new Warrant
Certificate of like tenor and representing an equivalent number of Warrants, but only upon receipt of evidence satisfactory to the Company and the Warrant Agent of such loss, theft or destruction of such Warrant Certificate and indemnity also
satisfactory to them, which indemnity shall include a corporate bond of indemnity satisfactory in form and substance to the Company and the Warrant Agent. 
 SECTION 11. Reservation of Warrant Shares. The Company will at all times authorize and reserve and keep available, free from preemptive rights and free from all taxes, liens, charges and security interests, out
of the aggregate of its authorized but unissued Common Stock or its authorized and issued Common Stock held in its treasury, for the purpose of enabling it to satisfy its obligation to issue Warrant Shares upon exercise of Warrants, the maximum
number of shares of Common Stock which may then be deliverable upon the exercise of all outstanding Warrants. 
 The Company or, if
appointed, the transfer agent for the Common Stock (the “Transfer Agent”) and every subsequent transfer agent for any shares of the Company’s Capital Stock issuable upon the exercise of Warrants will be irrevocably authorized
and directed at all times to reserve such number of authorized shares as shall be required for such purpose. The Company will keep a copy of this Agreement on file with the Transfer Agent and with every subsequent transfer agent for any shares of
the Company’s Capital Stock issuable upon the exercise of Warrants. The Warrant Agent is hereby irrevocably authorized to (1) instruct such Transfer Agent to make the appropriate book entries and (2) requisition from time to time from
such Transfer Agent the stock certificates, if any, required to honor outstanding Warrants upon exercise thereof, in each case in accordance with the terms of this Agreement. The Company will supply such Transfer Agent with duly executed
certificates for such purposes, if necessary, and will provide or otherwise make available any cash which may be payable as provided in Section 14. The Company will furnish such Transfer Agent a copy of all notices of adjustments and
certificates related thereto transmitted to each Holder pursuant to Section 15 hereof. 
 The Company covenants that all Warrant Shares
which may be issued upon exercise of Warrants made in accordance with the terms of this Agreement will, upon issuance, be duly and validly authorized and issued, fully paid, nonassessable, free of preemptive rights and free from all taxes, liens,
charges and security interests with respect to the issuance thereof. The Company will take no action to increase the par value of the Common Stock to an amount in excess of the Exercise Price, and the Company will not enter into any agreements
inconsistent with the rights of Holders hereunder. The Company will use its reasonable best efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable
the Company to perform its obligations under this Agreement. 
 SECTION 12. Obtaining Stock Exchange Listings. The Company will from
time to time use commercially reasonable efforts to ensure that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed on the principal securities exchanges and markets within the United States of America,
if any, on which the Company’s Common Stock is then listed. In the event that, at any time during the period in which the Warrants are exercisable, the Common Stock is not listed on any principal securities exchanges 

  

 15 

 
or markets within the United States of America, the Company will use commercially reasonable efforts to permit the Warrant Shares to be designated Portal
securities in accordance with the rules and regulations adopted by the National Association of Securities Dealers, Inc. relating to trading in The Portal Market. 
 SECTION 13. Adjustment of Exercise Rate and Exercise Price. The number of Warrant Shares purchasable upon the exercise of each Warrant, determined as if the Exercise Price were being paid in cash (the
“Exercise Rate”), and the Exercise Price are subject to adjustment from time to time upon the occurrence of the events enumerated in this Section 13. The Exercise Rate shall initially 1 Warrant to 49.0559 shares of Common
Stock. 
 (a) Adjustment for Change in Capital Stock. If, after the Issue Date, the Company (i) issues Common Stock as a dividend
or distribution on the Common Stock to all holders of Common Stock, (ii) subdivides or splits any of its outstanding shares of Common Stock into a greater number of shares, or (iii) combines any of its outstanding shares of Common Stock
into a smaller number of shares, then the Exercise Rate will be adjusted based on the following formula: 
  

									
		 	ER1	 	=	  	 ERo x OS1
	  	
		 		 		  	OSo	  	

 where 
  

	 	 ERo    =
	     the Exercise Rate in effect immediately prior to the adjustment relating to such event

  

	 	 ER1    =
	     the new Exercise Rate in effect taking such event into account 

  

	 	 OSo    =
	     the number of shares of Common Stock outstanding immediately prior to such event

  

	 	 OS1    =
	     the number of shares of Common Stock outstanding immediately after such event.

 Any adjustment made pursuant to this paragraph (a) shall become effective on the date that is immediately after (x) the date
fixed for the determination of holders of the Common Stock entitled to receive such dividend or other distribution or (y) the date on which such split or combination becomes effective, as applicable. If any dividend or distribution described in
this paragraph (a) is declared but not so paid or made, the new Exercise Rate shall be readjusted to the Exercise Rate that would then be in effect if such dividend or distribution had not been declared. 
  

 16 

 (b) Adjustment for Issuances at Less Than Exercise Price. If, after the Issue Date, the Company
issues to all holders of the Common Stock any rights, warrants, options or other securities entitling them for a period of not more than 45 days after the date of issuance thereof to subscribe for or purchase shares of Common Stock, or if we issue
to all holders of Common Stock securities convertible into Common Stock for a period of not more than 45 days after the date of issuance thereof, in either case at an exercise price per share of Common Stock or a conversion price per share of Common
Stock less than the Volume Weighted Average Price of the Common Stock on the trading day immediately preceding the time of announcement of such issuance, then the Exercise Rate will be adjusted based on the following formula: 
  

									
		 	ER1	 	=	  	 ERo x (OSo + X)
	  	
		 		 		  	(OSo + Y)	  	

  

					
	where
			
	ERo	  	=	  	the Exercise Rate in effect immediately prior to the adjustment relating to such event
			
	ER1	  	=	  	the new Exercise Rate taking such event into account
			
	OSo	  	=	  	the number of shares of Common Stock outstanding immediately prior to such event
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, warrants, options, other securities or convertible securities
			
	Y	  	=	  	the number of shares of Common Stock equal to the quotient of (A) the aggregate price payable to exercise such rights, warrants, options, other securities or convertible securities and
(B) the average of the Volume Weighted Average Price of the Common Stock for the 10 consecutive Trading Days prior to the Trading Day immediately preceding the date of announcement for the issuance of such rights, warrants, options, other
securities or convertible securities.

 Any adjustment made pursuant to this paragraph (b) shall become effective on the date that is immediately
after the date fixed for the determination of holders of Common Stock entitled to receive any right, warrant, option, other security or convertible security described in this paragraph (b). For purposes of this paragraph (b), in determining whether
any rights, warrants, options, other securities or convertible securities entitle the holders to subscribe for or purchase, or exercise a conversion right for, Common Stock at less than the applicable Last Reported Sale Price of Common Stock, and in
determining the aggregate exercise or conversion price payable for such Common Stock, there shall be taken into account any consideration the Company receives for such rights, warrants, options, other securities or convertible securities and any
amount payable on exercise or conversion thereof, with the value of such consideration, if other than cash, to be determined by the Board of Directors. If (x) a date is fixed for the determination of holders of Common Stock entitled to receive
any right, warrant, option or other security or convertible security described in this paragraph (b) but such right, warrant, option or other security or convertible security is not so issued, or (y) any right, warrant, option, other
security or convertible security described in this paragraph (b) is not exercised or converted prior to the expiration of the exercisability or convertibility thereof, then in either such case the new Exercise Rate shall be readjusted to the
Exercise Rate that would then be in effect if such right, warrant, option, other security or convertible security had not been so issued. 
 (c) Adjustment for Distributions and Spin-Offs. If, after the Issue Date, the Company distributes Capital Stock, evidences of indebtedness or other assets or property of the 

  

 17 

 
Company to all holders of Common Stock, excluding (i) dividends, distributions, rights, warrants, options, other securities or convertible securities
referred to in paragraph (a) or (b) above, (ii) dividends or distributions paid exclusively in cash, and (iii) Spin-Offs described below in this paragraph (c), then the Exercise Rate will be adjusted based on the following
formula: 
  

									
		 	ER1	 	=	  	 ERo x SPo
	  	
		 		 		  	(SPo – FMV)	  	

  

					
	where	  		  	
			
	ERo	  	=	  	the Exercise Rate in effect immediately prior to the adjustment relating to such event
			
	ER1	  	=	  	the new Exercise Rate taking such event into account
			
	SPo	  	=	  	the Volume Weighted Average Price of the Common Stock on the Trading Day immediately preceding the ex-dividend date for such distribution
			
	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors) of the Capital Stock, evidences of indebtedness, assets or property distributed with respect to each outstanding
share of Common Stock on the earlier of the record date or the ex-dividend date for such distribution.

 An adjustment to the Exercise Rate made pursuant to the immediately preceding provisions of this paragraph
(c) shall be made successively whenever any such distribution is made and shall become effective on the ex-dividend date for such distribution. 
 If, after the Issue Date, the Company distributes to all holders of Common Stock, Capital Stock of any class or series, or similar equity interest, of or relating to a subsidiary or other business unit of the Company
(a “Spin-Off’), then the Exercise Rate in effect immediately before the close of business on the date fixed for determination of holders of Common Stock entitled to receive such distribution will be adjusted based on the following formula:

  

									
		 	ER1	 	=	  	 ERo x (FMVo + MPo) 
	  	
		 		 		  	MPo	  	

  

					
	where	  		  	
			
	ERo	  	=	  	the Exercise Rate in effect immediately prior to the adjustment relating to such event
			
	ER1	  	=	  	the new Exercise Rate taking such event into account
			
	FMVo	  	=	  	the average of the Volume Weighted Average Price of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock over the first 10
consecutive Trading Days beginning with the effective date of the Spin-Off (or, if the effective date of the Spin-Off is not a Trading Day, the first 10 consecutive Trading Days after the effective date of the Spin-Off)
			
	MPo	  	=	  	the average of the Volume Weighted Average Price of the Common Stock over the first 10 consecutive Trading Days beginning with the effective date of the Spin-Off (or, if the effective date of
the Spin-Off is not a Trading Day, the first 10 consecutive Trading Days after the effective date of the Spin-Off).

  

 18 

 An adjustment to the Exercise Rate made pursuant to the
immediately preceding provision of this paragraph (c) will occur on the first trading day after completion of the period of 10 Trading Days referenced in such provision; provided that for any exercise within the period of 10 Trading Days
from and including the effective date of any Spin-Off, FMVo and MPo shall be calculated with reference to the portion of such period of 10 Trading Days that has elapsed prior to such exercise. 
 If any such distribution described in this paragraph (c), including any Spin-Off, is declared but not paid or made, the new Exercise Rate shall be readjusted to be the Exercise Rate that would then be in effect if
such distribution had not been declared. 
 (d) Participation by Warrantholders. Notwithstanding the provisions of this
Section 13, an event which would otherwise give rise to an adjustment pursuant to Section 13 shall not require the Company to make such adjustment if Holders of the Warrants are permitted to participate, on an as-exercised basis, in the
event giving rise to the adjustment. 
 (e) Valuation Upon a Liquidating Distribution. Notwithstanding anything to the contrary set
forth in this Section 13, if, at any time after the Issue Date, the Company makes any distribution pursuant to any plan of liquidation (a “Liquidating Distribution”) on shares of Common Stock (whether in cash, property,
evidences of indebtedness or otherwise), then, subject to applicable law, the Company shall make to each Holder of Warrants, upon surrender of such Warrants by such Holder to the Company for cancellation, the aggregate Liquidating Distribution which
such Holder would have acquired if such Holder had exercised such Warrants in full on the record date for determination of holders of Common Stock entitled to receive the Liquidating Distribution or, if there is no such record date, the Business Day
immediately preceding the Liquidating Distribution, less an amount equal to the aggregate Exercise Price of the Warrants so surrendered. 
 (f) Notice of Adjustment. Whenever the Exercise Rate and Exercise Price are adjusted, the Company shall promptly mail to Holders of Warrants then outstanding at the addresses appearing on the Warrant Register a notice of the
adjustments. The Company shall file with the Warrant Agent and any other registrar such notice, an Officers’ Certificate and a certificate from the Company’s independent public accountants briefly stating the facts requiring the adjustment
and the manner of computing it. The certificates shall be conclusive evidence that the adjustment is correct, absent manifest error, and the Warrant Agent may rely conclusively on anything contained in such certificates. Neither the Warrant Agent
nor any such registrar shall be under any duty or responsibility with respect to any such certificate except to exhibit the same during normal business hours to any Holder desiring inspection thereof. 
  

 19 

 (g) Fundamental Transactions. 
 (i) If, at any time after the Issue Date, the Company, in a single transaction or through a series of related transactions
(A) effects any capital reorganization, or any reclassification of the Capital Stock of the Company (other than a change in par value or from par value to no par value or no par value to par value or as a result of a stock split, reverse stock
split, stock dividend, subdivision, split-up, combination of shares or other transaction having similar effect) or consolidates or merges with or into another corporation (other than a merger solely to effect a reincorporation of the Company in
another state) in which, in each case, the Company’s holders of Common Stock immediately prior to such capital reorganization, reclassification, consolidation or merger will hold less than a majority of the Company’s outstanding shares of
Common Stock (or the common stock of the resulting corporation) immediately after such capital reorganization, reclassification, consolidation or merger, or (B) sells, assigns, transfers, leases, conveys or otherwise disposes of all or
substantially all of the properties and assets of the Company and its subsidiaries, taken as a whole, in their entirety to another person or group of affiliated persons (each of the transactions described in clauses (A) and (B) being a
“Fundamental Transaction”), then each Warrant shall be adjusted to be exercisable to purchase, for each share of Common Stock that would have been received upon such exercise immediately prior to the occurrence of such Fundamental
Transaction (determined as if the Exercise Price were paid in cash), the securities, property and/or any other consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of one
share of Common Stock, assuming that such holder was not a constituent person or an affiliate of a constituent person to such Fundamental Transaction. For purposes of any such exercise, the Exercise Price shall be appropriately adjusted to apply to
such Alternative Consideration based on the amount of Alternative Consideration receivable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternative
Consideration in a reasonable manner reflecting the relative value of any different components of the Alternative Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental
Transaction, then the Holder exercising a Warrant following such Fundamental Transaction will receive the weighted average of the types and amount of Alternative Consideration received by the holders of the Common Stock entitled to receive cash,
securities or other property or assets with respect to or in exchange for such Common Stock in any Fundamental Transaction who affirmatively make such an election. Any resulting corporation or successor to the Company in such Fundamental Transaction
shall succeed to and be substituted to every right and obligation of the Company in respect of this Agreement and the Warrants and (X) if necessary to reflect such succession and substitution, shall enter into a supplemental warrant agreement,
and (Y) if necessary to otherwise reflect the foregoing provisions of this paragraph (g), shall issue to the Holder a new Warrant consistent with such provisions and evidencing the Holder’s right to exercise such Warrant to purchase
Alternate Consideration. The terms of any agreement pursuant to which a Fundamental 

  

 20 

 
Transaction is effected shall include terms requiring any such resulting corporation or successor to the Company to comply with the foregoing provisions of
this paragraph (g) and providing that the Warrants (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. 
 (ii) If this paragraph (g) applies, it shall supersede the application of paragraphs (a) through (c), inclusive, of this
Section 13. 
 (h) Other Events. If any event occurs as to which the provisions of this Section 13 are not strictly
applicable or, if strictly applicable, the provision of this Section 13 would not, in the good faith judgment of the Board of Directors, equitably adjust the rights of the Warrantholders in accordance with the essential intent and principles of
such provisions, then the Board of Directors shall make such adjustments in the application of such provisions, in accordance with such essential intent and principles, as shall be reasonably necessary, in the good faith opinion of the Board of
Directors, to equitably adjust such rights, but in no event shall any such adjustment have the effect of decreasing the Exercise Rate or decreasing the number of Warrant Shares issuable upon exercise of the Warrants. 
 (i) Adjustment of Exercise Price. In connection with any adjustment to the Exercise Rate required pursuant to the provisions above, the Exercise
Price will be adjusted in accordance with the following formula: 
  

									
		 	 EP1
	 	=	  	 EPo x ER0
	  	
		 		 		  	ER1	  	

  

					
	where	  		  	
			
	EPo	  	=	  	the Exercise Price in effect immediately prior to the adjustment relating to such event
			
	EP1	  	=	  	the new Exercise Price in effect taking such event into account
			
	ERo	  	=	  	the Exercise Rate in effect immediately prior to the adjustment relating to such event
			
	ER1	  	=	  	the new Exercise Rate in effect taking such event into account.

 (j) Company Determination Final. Any determination that the Company or the Board of
Directors may make pursuant to this Section 13 shall be conclusive, absent manifest error. 
 (k) Warrant Agent’s Adjustment
Disclaimer. The Warrant Agent shall have no duty to determine when an adjustment under this Section 13 should be made, how it should be made or what it should be. The Warrant Agent shall have no duty to determine whether a supplemental
warrant agreement under paragraph (g) need be entered into or whether any provisions of any supplemental warrant agreement are correct. The Warrant Agent shall not be accountable for and makes no representation as to the validity or value of
any securities or assets issued upon exercise of Warrants. The Warrant Agent shall not be responsible for the Company’s failure to comply with this Section 13. 
  

 21 

 (l) Specificity of Adjustment. Regardless of any adjustment in the number or kind of shares
purchasable upon the exercise of the Warrants, Warrant Certificates theretofore or thereafter issued may continue to express the same number and kind of Warrant Shares per Warrant as are stated on the Warrant Certificates initially issuable pursuant
to this Agreement. 
 (m) Voluntary Adjustment. The Company from time to time may increase the Exercise Rate by any amount and for any
period of time; provided, however, that such period is not less than 20 Business Days. Whenever the Exercise Rate is so increased, the Company shall mail to Holders at the addresses appearing on the Warrant Register and file with the Warrant Agent a
notice of the increase. The Company shall give the notice at least 15 days before the date the increased Exercise Rate takes effect. The notice shall state the increased Exercise Rate and the period it will be in effect. 
 (n) Multiple Adjustments. After an adjustment to the Exercise Rate for outstanding Warrants under this Section 13, any subsequent event
requiring an adjustment under this Section 13 shall cause an adjustment to the Exercise Rate for outstanding Warrants as so adjusted. 
 (o) When De Minimis Adjustment May Be Deferred. No adjustment in the Exercise Rate or
Exercise Price shall be required unless the adjustment would require an increase or decrease of at least 1% of the Exercise Rate or Exercise Price. If the adjustment is not made because the adjustment does not change the Exercise Rate or Exercise
Price by at least 1%, then the adjustment that is not made will be carried forward and taken into account in any future adjustment or in connection with any future exercise of any Warrant. All required calculations will be made to the nearest cent
or 1/10,000th of a share, as the case may be. Notwithstanding the foregoing, all adjustments not previously made shall have effect with respect to
any exercise of a Warrant. 
 (p) Amendments of the Certificate of Incorporation. The Company shall not amend its Certificate of
Incorporation in a manner that adversely affects the Holders of Warrants, without the prior consent of the Holders of a majority of the Warrants outstanding (excluding Warrants held by the Company or any of its Affiliates), as determined in good
faith by the Board of Directors. 
 (q) Exclusion of Rights Plan. Notwithstanding anything to the contrary contained herein, no
adjustment pursuant to this Section 13 shall be required in connection with the issuance, distribution, delivery or exercise of Share Purchase Rights except, if any Warrants remain outstanding and the Share Purchase Rights have become
exercisable in accordance with the provisions of the applicable rights plan, the Exercise Rate will be adjusted as though the event of such Share Purchase Rights becoming exercisable constituted a non-Spin-Off distribution subject to paragraph
(c) above having an ex-dividend date of the date on which such rights first became exercisable. If any such right is not exercised prior to the subsequent expiration, termination or redemption of the Share Purchase Rights, the new Exercise Rate
shall be readjusted to the Exercise Rate that would have been in effect if such Share Purchase Rights had not become so exercisable. 
  

 22 

 (r) Tax Adjustments. In addition to the adjustments described in this Section 13, the Company
may increase the Exercise Rate or decrease the Exercise Price in order to avoid or diminish any U.S. federal income tax to holders of Common Stock resulting from any dividend or distribution of Capital Stock (or rights to acquire Common Stock) or
from any event treated as such for U.S. federal income tax purposes. The Company may also, from time to time, to the extent permitted by applicable law, increase the Exercise Rate or decrease the Exercise Price by any amount for any period if the
Company has determined that such increase would be in the Company’s best interests. If the Company makes such a determination, it will be conclusive absent manifest error and the Company will mail to Holders of the Warrants a notice of the
increased Exercise Rate and/or decreased Exercise Price and the period during which it will be in effect at least 15 days prior to the date the increased Exercise Rate and/or decreased Exercise Price takes effect in accordance with applicable law.

 (s) No Adjustment for Certain Events. The Company will not be required to make any adjustment to the Exercise Rate or Exercise
Price in connection with the following events: 
 (i) the issuance of any of Common Stock pursuant to any present or future
plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in Common Stock under any plan; 
 (ii) the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future employee,
director or consultant benefit plan, employee agreement or arrangement or program of the Company or any of its subsidiaries or Affiliates; 
 (iii) the issuance of any shares of Common Stock pursuant to any option, warrant, right, or exercisable, exchangeable or convertible security outstanding as of the date the Warrants were first issued; 
 (iv) a change in the par value of the Common Stock; 
 (v) accumulated and unpaid dividends or distributions; and 
 (vi) cash dividends on Common Stock. 
 SECTION 14. Fractional Interests. The Company shall not be required to issue fractional Warrant Shares on the exercise of Warrants. If more than one Warrant shall be presented for exercise in full at the same time by the same Holder,
the number of full Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant Shares purchasable on exercise of the Warrants so presented. If any fraction of a Warrant Share
would, except for the provisions of this Section 14, be receivable on the exercise of any Warrants (or specified portion thereof), the Company shall pay an amount in cash equal to the sum of 1/20 of the Volume Weighted Average Price per Warrant
Share for each of the 20 Trading Days immediately preceding the date the Warrant is presented for exercise, multiplied by such fraction. 
  

 23 

 SECTION 15. Notice of Certain Distributions; Certain Rights. The Company shall give prompt written
notice to the Warrant Agent and shall cause the Warrant Agent, on behalf of and at the expense of the Company to give to each Holder written notice of any determination to make a distribution to the holders of its Common Stock of any assets, debt
securities, preferred stock, or any rights or warrants to purchase debt securities, preferred stock, assets or other securities (other than Common Stock, or rights, options, or warrants to purchase Common Stock) of the Company the effect of which
would require any adjustment pursuant to Section 13 hereof, which notice shall state the nature and amount of such planned distribution and the record date therefor, and shall be given to the Holders at least 20 days prior to such record date
therefor. 
 Except as expressly provided in this Agreement or in any Warrant Certificate, the Holders of unexercised Warrants shall have no
right to receive dividends, to vote, to consent, to exercise any preemptive rights or to receive notice as shareholders of the Company in respect of the meetings of shareholders or the election of directors of the Company or any other matter, or to
exercise any rights whatsoever as shareholders of the Company. 
 SECTION 16. Notices to the Company and Warrant Agent. Any notice or
demand authorized by this Agreement to be given or made by the Warrant Agent or by any Holder to or on the Company shall be sufficiently given or made when received at the office of the Company expressly designated by the Company as its office for
purposes of this Agreement (until the Warrant Agent is otherwise notified in accordance with this Section 16 by the Company), as follows: 
  

			
	Louisiana-Pacific Corporation	  	Copies to:
	414 Union St., Suite 2000	  	Jones Day
	Nashville, TN 37219	  	2727 Harwood
	Facsimile: (615) 986-5880	  	Dallas, TX 75201-1515
	and (615) 435-1843	  	Facsimile: (214) 969-5100
	Attn: Treasurer and General Counsel	  	Attn: Mark Betzen

 Any notice pursuant to this Agreement to be given by the Company or by any Holder(s) to the
Warrant Agent shall be sufficiently given when received by the Warrant Agent at the address appearing below (until the Company is otherwise notified in accordance with this Section by the Warrant Agent). 
  

			
	Mailing Address:	  	Delivery Address:
	Computershare Trust Company, N.A.	  	Computershare Trust Company, N.A.
	250 Royall Street	  	250 Royall Street
	Canton, MA 20021	  	Canton, MA 20021
	Attn: Reorganization Departments	  	Attn: Reorganization Departments
	Facsimile: 781-575-2901	  	Facsimile: 781-575-2901

 Any notice or communication to a Holder shall be delivered by hand, dispatched overnight delivery
service or mailed by first class mail (postage prepaid), to its address shown on the register kept by the Warrant Agent, or transmitted to such Holder by any means of electronic communication to which such Holder may comment. 
  

 24 

 SECTION 17. Supplements and Amendments. (a) From time to time, the Company and the Warrant
Agent, without the consent of the Holders of the Warrants, may amend or supplement this Agreement, (1) to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company in the
Warrant Agreement; (2) to add to the covenants of the Company for the benefit of the Holders of Warrants, or to surrender any right or power herein conferred upon the Company; (3) to provide for uncertificated Warrants in addition to or in
place of the certificated Warrants; (4) to evidence and provide for the acceptance of the appointment under the Warrant Agreement of a successor Warrant Agent; (5) to provide for or confirm the issuance of Additional Warrants in accordance
with the terms of the Warrant Agreement; (6) to cure any ambiguity, defect, omission, mistake or inconsistencies or making any change that does not adversely affect, in any material respect, the legal rights of Holders of Warrants; (7) to
make any other provisions with respect to matters or questions arising under the Warrant Agreement, provided that such actions pursuant to this clause (7) shall not adversely affect the interests of the Holders of Warrants, in any
material respect, as determined in good faith by the Board of Directors; or (8) to conform the text of the Warrant Agreement to any provision of the “Description of Warrants” in the Offering Memorandum dated March 3, 2009 to the
extent that the Warrant Agent has received an Officers’ Certificate stating that such text constitutes an unintended conflict with the description of the corresponding provision in such “Description of Warrants.” Except as otherwise
provided in the first sentence of this paragraph (a) of this Section 17, any amendment or supplement to this Agreement that adversely affects in any material respect the legal rights of the Holder of the Warrants will require the written
consent of the Holders of a majority of the then outstanding Warrants (excluding Warrants held by the Company or any of its Affiliates). Except as otherwise provided in the first sentence of this paragraph (a) of this Section 17, the
consent of each Holder of the Warrants affected will be required for any amendment pursuant to which the Exercise Price would be increased or the number of Warrant Shares purchasable upon exercise of Warrants would be decreased (other than pursuant
to adjustments provided in this Agreement) or any of the adjustment provisions in this Agreement would be changed in a manner that would have any such effect. 
 (b) After an amendment or modification under this Section 17 becomes effective, the Company shall mail to the Holders affected thereby a notice briefly describing such amendment or modification. Any failure of
the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment or modification. 
 In connection with any amendment or modification under this Section 17, the Company may offer, but shall not be obligated to offer, to any Holder who consents to such amendment or modification, consideration for
such Holder’s consent, so long as such consideration is offered to all Holders. 
 (c) Executed or true and correct copies of any
amendment or modification effected pursuant to the provisions of this Section 17 shall be delivered by the Company to each Holder of outstanding Warrants forthwith following the date on which the same shall have been executed and delivered by
the Holder or Holders of the requisite percentage of outstanding Warrant Shares (but only to the extent the Company has been provided with the addresses for the Holders). 
  

 25 

 SECTION 18. Concerning the Warrant Agent. The Warrant Agent undertakes the duties and obligations
expressly imposed by this Agreement (and no implied duties) upon the following terms and conditions, by all of which the Company and the Holders, by their acceptance of Warrants, shall be bound: 
 (a) The Warrant Agent assumes no responsibility for the correctness of any statement contained herein or in the Warrant Certificate, except such as
describe the Warrant Agent or any action taken by it. 
 (b) The Warrant Agent shall be protected and shall not be responsible for and shall
incur no liability to the Company or any Holder for any failure of the Company to comply with the covenants contained in this Agreement or in the Warrants to be complied with by the Company. 
 (c) The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself (through its
employees) or by or through its attorneys or agents (which shall not include its employees) and shall not be responsible for the misconduct of any attorney or agent appointed by it without bad faith, gross negligence or willful misconduct.

 (d) The Warrant Agent may consult at any time with legal counsel satisfactory to it (who may be counsel for the Company or an employee of
the Warrant Agent), and the Warrant Agent shall incur no liability or responsibility to the Company or to any Holder in respect of any action taken, suffered or omitted by it hereunder in accordance with the opinion or the advice of such counsel.

 (e) Whenever in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless such evidence in respect thereof be herein specifically prescribed) may be deemed conclusively to be proved and established
by a certificate signed by the Chairman of the Board, the President, one of the Vice Presidents, the Treasurer or the Secretary of the Company and delivered to the Warrant Agent; and such certificate shall be full authorization to the Warrant Agent
for any action taken or suffered by it under the provisions of this Agreement in reliance upon such certificate. 
 (f) The Company agrees to
pay the Warrant Agent such compensation for all services rendered by the Warrant Agent in the performance of its duties under this Agreement as may be separately agreed in writing, to reimburse the Warrant Agent for all expenses, taxes and
governmental charges and other charges of any kind and nature incurred by the Warrant Agent in the performance of its duties under this Agreement (including, without limitation, reasonable fees and expenses of counsel), and to indemnify the Warrant
Agent and its agents, employees, directors, officers and affiliates and save it and them harmless against any and all liabilities, losses and expenses, including, without limitation, judgments, costs and counsel fees, for anything done or omitted by
the Warrant Agent in the acceptance and performance of its duties under this Agreement, except as a result of the Warrant Agent’s bad faith, gross negligence or willful misconduct, including, without limitation, the costs and expenses of

  

 26 

 
defending against any claim (whether asserted by the Company, a Holder or any other Person) of liability in the premises including reasonable attorneys’
fees and expenses. The provisions of this paragraph shall survive the resignation or removal of the Warrant Agent and the termination of this Agreement. 
 (g) The Warrant Agent shall be under no obligation to institute any action, suit or legal proceeding or to take any other action likely to involve expense unless the Company or one or more Holders shall furnish the
Warrant Agent with reasonable security and indemnity for any costs and expenses which may be incurred, but this provision shall not affect the power of the Warrant Agent to take such action as the Warrant Agent may consider proper, whether with or
without any such security or indemnity. All rights of action under this Agreement or under any of the Warrants may be enforced by the Warrant Agent without the possession of any of the Warrants or the production thereof at any trial or other
proceeding relative thereto, and any such action, suit or proceeding instituted by the Warrant Agent shall be brought in its name as Warrant Agent, and any recovery of judgment shall be for the ratable benefit of the Holders, as their respective
rights or interests may appear. 
 (h) The Warrant Agent and any stockholder, director, officer or employee (“Related
Parties”) of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transactions in which the Company may be interested, or contract with or lend money to
the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement or such director, officer or employee. Nothing herein shall preclude the Warrant Agent or any Related Party from acting in any other capacity
for the Company or for any other legal entity including, without limitation, acting as Transfer Agent to the Company or an affiliate thereof. 
 (i) The Warrant Agent shall act hereunder solely as agent, and its duties shall be determined solely by the provisions thereof. The Warrant Agent shall not be liable for anything which it may do or refrain from doing in connection with this
Agreement except for its own bad faith, gross negligence or willful misconduct. No implied duties or obligations shall be read into this Agreement against the Warrant Agent. 
 (j) The Warrant Agent will be protected and will not incur any liability or responsibility to the Company or to any Holder for any action taken, suffered
or omitted by it in reliance on any notice, resolution, waiver, consent, order, certificate, or other paper, document or instrument reasonably believed by it to be genuine and to have been signed, sent or presented by the proper party or parties.

 (k) The Warrant Agent is hereby authorized to request, and directed to accept, instructions with respect to the performance of its duties
hereunder from the Chairman of the Board, the President, Chief Financial Officer, Treasurer, any Vice President or the Secretary of the Company, and to apply to such officers for advice or instructions in connection with its duties, and shall not be
liable for any action taken or suffered to be taken by it without bad faith, gross negligence or willful misconduct in accordance with instructions of any such officer or officers. 
  

 27 

 (l) By countersigning Warrant Certificates or by any other act hereunder the Warrant Agent shall not be
deemed to make any representations as to validity or authorization of the Warrants or the Warrant Certificates (except as to its countersignature thereon) or of any securities or other property delivered upon exercise or tender of any Warrant, or as
to the accuracy of the computation of the Exercise Price or the number or kind or amount of stock or other securities or other property deliverable upon exercise of any Warrant or the correctness of the representations of the Company made in any
certifications that the Warrant Agent receives. The Warrant Agent shall not have any duty to calculate or determine any adjustments with respect either to the Exercise Price or the kind and amount of shares or other securities or any property
receivable by Holders of Warrants upon the exercise or tender of Warrants required from time to time, and the Warrant Agent shall have no duty or responsibility in determining the accuracy or correctness of any such calculation. 
 (m) No provision of this Agreement shall require the Warrant Agent to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or in the exercise of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it.

 SECTION 19. Change of Warrant Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement by giving
to the Company 30 days’ notice in writing. The Warrant Agent may be removed by like notice to the Warrant Agent from the Company. If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall
appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated
Warrant Agent or by any Holder (who shall with such notice submit his Warrant for inspection by the Company), then any Holder or the removed, resigning or incapacitated Warrant Agent may apply to any court of competent jurisdiction for the
appointment of a successor to the Warrant Agent. Pending appointment of a successor to the Warrant Agent, either by the Company or by such court, the duties of the Warrant Agent shall be carried out by the Company. Any successor warrant agent,
whether appointed by the Company or such a court, shall be a bank or trust company in good standing, incorporated under the laws of the United States of America or any State thereof or the District of Columbia and having at the time of its
appointment as warrant agent a combined capital and surplus of at least $50,000,000. After appointment, the successor warrant agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as
Warrant Agent without further act or deed; but the former Warrant Agent shall deliver and transfer to the successor warrant agent any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance, act or deed
necessary for such purpose. Failure to file any notice provided for in this Section 19, however, or any defect therein, shall not affect the legality or validity of the resignation or removal of the Warrant Agent or the appointment of the
successor warrant agent, as the case may be. In the event of such resignation or removal, the Company or the successor warrant agent shall mail by first class mail, postage prepaid, to each Holder, written notice of such removal or resignation and
the name and address of such successor warrant agent. 
  

 28 

 SECTION 20. Successors. All the covenants and provisions of this Agreement by or for the benefit
of the Company, the Warrant Agent or any Holder of Warrants shall bind and inure to the benefit of their respective successors and assigns hereunder. 
 SECTION 21. Termination. This Agreement shall terminate on the fourth Business Day after the Expiration Date. Notwithstanding the foregoing, this Agreement will terminate on any earlier date upon which all
Warrants have been exercised or have otherwise ceased to be outstanding. 
 SECTION 22. Governing Law. This Agreement and each Warrant
Certificate issued hereunder shall be deemed to be a contract made under the laws of the State of New York and shall be governed by and construed in accordance with the laws of said State, without regard to the conflict of law rules thereof.

 SECTION 23. Benefits of This Agreement. Nothing in this Agreement shall be construed to give to any person or corporation other
than the Company, the Warrant Agent and the registered Holders of the Warrant Certificates from time to time any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and exclusive benefit of the
Company, the Warrant Agent and the registered Holders of the Warrant Certificates. 
 SECTION 24. Counterparts. This Agreement may be
executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 SECTION 25. Force Majeure. Notwithstanding anything to the contrary contained herein, the Warrant Agent shall not be liable for any delays or
failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of
data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest. 
 SECTION 26. Priorities. In the event of any conflict, discrepancy, or ambiguity between the terms and conditions contained in this Agreement and any schedules or attachments hereto, the terms and conditions contained in this
Agreement shall take precedence. 
 [Signature Page Follows] 
  

 29 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, as of the day and
year first above written. 
  

			
	 LOUISIANA-PACIFIC CORPORATION

		
	 By:
	 	 /s/ Curtis M. Stevens

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

  

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, as of the day and
year first above written. 
  

			
	 COMPUTERSHARE TRUST COMPANY, N.A.

	 as Warrant Agent

		
	 By:
	 	 /s/ Neda Sheridan

	 Name:
	 	Neda Sheridan
	 Title:
	 	Vice President

  

 Exhibit A 
 THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON EXERCISE OF THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON EXERCISE OF THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON EXERCISE OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE
PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON EXERCISE OF THE SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH
SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) TO A PERSON WHO IS NOT ONE OF OUR “AFFILIATES” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT)
NOR ACTING ON OUR BEHALF AND (a) IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER
THE SECURITIES ACT, (c) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), (ii) TO THE COMPANY, OR (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON
EXERCISE OF THIS SECURITY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY AND THE COMMON STOCK, IF
ANY, ISSUABLE UPON EXERCISE OF THIS SECURITY. 
  

 A-1 

 No.     CUSIP #
             
 FORM OF 
 COMMON STOCK PURCHASE WARRANT 
 OF 
 LOUISIANA-PACIFIC CORPORATION 
 THIS CERTIFIES
THAT [            ], or its registered assigns, is the registered holder of Warrants (the “Warrants”). Each Warrant entitles the holder thereof (the
“Holder”), at its option at any time on or after the Separation Date and subject to the provisions contained herein and in the Warrant Agreement referred to below, to purchase from Louisiana-Pacific Corporation, a Delaware
corporation (the “Company”), 49.0559 shares of Common Stock, par value $1.00 per share, of the Company at an exercise price per share equal to $1.39 (the “Exercise Price”). 
 This Warrant Certificate shall terminate and become void as of 5:00 p.m. New York City time, on March 15, 2017 (the “Expiration
Date”). 
 This Warrant Certificate is issued under and in accordance with a Warrant Agreement dated as of March 10, 2009 (the
“Warrant Agreement”), between the Company and Computershare Trust Company, N.A., as Warrant Agent, and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of
this Warrant Certificate consents by acceptance hereof. The Warrant Agreement is hereby incorporated herein by reference and made a part hereof. Reference is hereby made to the Warrant Agreement for a full statement of the respective rights,
limitations of rights, duties and obligations of the Company and the Holders. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Warrant Agreement. A copy of the Warrant Agreement may be obtained for
inspection by the Holder hereof upon written request to the Company at Louisiana-Pacific Corporation, 414 Union St., Suite 2000, Nashville, TN 37219, Attn: Treasurer and General Counsel. 
 Subject to the terms of the Warrant Agreement, the Warrants may be exercised upon surrender at the office or agency of the Company maintained for such
purpose, which initially will be the corporate trust office of the Warrant Agent in Canton, Massachusetts, of the certificate or certificates evidencing the Warrants to be exercised, if held in certificated form, along with the form of election to
purchase on the reverse thereof properly completed and signed, which signature shall be guaranteed in accordance with this requirements of this Warrant Certificate, together with payment of the Exercise Price. Payment of the Exercise Price shall be
made only by the surrender of one or more Warrants (and without the payment of the Exercise Price in cash) in exchange for a number of shares of the Company’s Common Stock equal to the product of (a) the number of shares of the
Company’s Common Stock for which such Warrant or Warrants are exercisable as of the Exercise Date (determined as if the Exercise Price were being paid in cash), and (b) the Cashless Exercise Ratio. The “Cashless Exercise
Ratio” shall equal a fraction, the numerator of which is the excess of the Exercise Value per share of Common Stock for the applicable Exercise Reference Period over the Exercise Price as of the Exercise Date and the denominator of which is
the Exercise Value per share of Common Stock for such Exercise 

  

 A-2 

 
Reference Period. Upon surrender of a Warrant Certificate representing more than one Warrant, the number of shares of Common Stock deliverable shall be equal
to the product of (x) the number of shares of the Company’s Common Stock issuable in respect of those Warrants that the Holder specifies are to be exercised multiplied by (y) the Cashless Exercise Ratio. All provisions of this
Agreement are applicable with respect to an exercise of a Warrant Certificate for less than the full number of Warrants represented thereby. 
 The “Exercise Date” for a Warrant shall be the date when all of the items referred to in the immediately preceding paragraph are received by the Warrant Agent at or prior to 11:00 a.m., New York City time, on a
Business Day and the exercise of the Warrants will be effective as of such Exercise Date. If any items referred to in such paragraph are received after 11:00 a.m., New York City time, on a Business Day, the exercise of the Warrants to which such
item relates will be effective on the next succeeding Business Day. Notwithstanding the foregoing, in the case of an exercise of Warrants on the Expiration Date, if all of the items referred to in such paragraph are received by the Warrant Agent at
or prior to 5:00 p.m., New York City time, on the Expiration Date, the exercise of the Warrants to which such items relate will be effective on the Expiration Date.  
 Each Warrant shall be exercisable only in whole. In the event that a certificate evidencing Warrants is exercised in respect of fewer than all of the
Warrants evidenced thereby at any time prior to the Expiration Date, a new certificate evidencing the remaining Warrant or Warrants will be issued, and the Warrant Agent is irrevocably authorized to countersign and to deliver the required new
Warrant Certificate or Certificates pursuant to this Agreement, and the Company, whenever required by the Warrant Agent, will promptly supply the Warrant Agent with Warrant Certificates duly executed on behalf of the Company for such purpose.
Holders of Warrants will be able to exercise their Warrants only if a registration statement relating to the Warrant Shares underlying the Warrants is then in effect, or the exercise of such Warrants is exempt from the registration requirements of
the Securities Act, and such securities are qualified for sale or exempt from qualification under the applicable securities laws of the states in which the various Holders of Warrants or other persons to whom it is proposed that Warrant Shares be
issued on exercise of the Warrants reside. 
 This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such
term is used in the Warrant Agreement. Warrant Certificates in registered form, or “Certificated Warrants”, will only be issued if the Depositary Trust Company notifies the Company that (i) it is no longer willing or able to
act as a depositary for the Global Securities and the Company is unable to locate a qualified successor within 90 days or (ii) it has ceased to be a clearing agency registered under the Securities Exchange Act of 1934, as amended. 

As provided in the Warrant Agreement, the Exercise Rate and the Exercise Price are subject to adjustment upon the happening of certain events.

 The Company will pay all documentary stamp taxes attributable to the initial issuance of Warrant Shares upon the exercise of Warrants;
provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in the issue of any Warrant Certificates or any certificates for Warrant Shares in a name other
than that of the registered Holder of a Warrant Certificate surrendered upon the exercise of a Warrant, and 

  

 A-3 

 
the Company shall not be required to issue or deliver such Warrant Certificates unless or until the Person or Persons requesting the issuance thereof shall
have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid 
 The Company shall not be required to issue fractional Warrant Shares on the exercise of Warrants.
If more than one Warrant shall be presented for exercise in full at the same time by the same Holder, the number of full Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of
Warrant Shares purchasable on exercise of the Warrants so presented. If any fraction of a Warrant Share would, except for the provisions of Section 14 of the Warrant Agreement, be receivable on the exercise of any Warrants (or specified portion
thereof), the Company shall pay an amount in cash equal to the sum of  1/20 of the Volume Weighted Average Price per Warrant
Share for each of the 20 trading days immediately preceding the date the Warrant is presented for exercise, multiplied by such fraction. 
 All Warrant Shares issuable by the Company upon the exercise of the Warrants shall, upon such issuance, be duly and validly issued and fully paid and non-assessable. 
 The Company and the Warrant Agent may deem and treat Holders of the Warrant Certificates as the absolute owners thereof (notwithstanding any notation of
ownership or other writing thereon made by anyone) for all purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 
 Notwithstanding any of the above, to the extent a conflict, ambiguity, defect, omission, mistake or inconsistency exists between this Warrant Certificate and the Warrant Agreement, the Warrant Agreement controls,
supercedes and supplements this certificate. 
  

 A-4 

 The Warrants do not entitle any Holder hereof to any of the rights of a stockholder of the Company.

  

			
	 LOUISIANA-PACIFIC CORPORATION

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 DATED:

	 COUNTERSIGNED:

	
	 COMPUTERSHARE TRUST COMPANY, N.A.,
 as
Warrant Agent

		
	 By:
	 	  

		 	 Authorized Signature

  

 A-5 

 FORM OF ELECTION TO PURCHASE WARRANT SHARES 
 (to be executed only upon exercise of Warrants) 
 LOUISIANA-PACIFIC CORPORATION

 The undersigned hereby irrevocably elects to exercise              Warrants on
the terms and conditions specified in the Warrant Certificate and the Warrant Agreement, surrenders this form of election and all right, title and interest therein to Louisiana-Pacific Corporation and directs that the Warrant Shares deliverable upon
the exercise of such Warrants be registered or placed in the name and at the address specified below and delivered thereto. 
 Date:
                    ,             
 Your
Signature.                                       
                                         
                                         
                        
 (Sign exactly
as your name appears on the face of any Certificated Warrant Certificate) 
  

			
	  
	  	

 (Street Address) 
  

							
	  
	 	
	(City)	 	(State)	 	(Zip Code)	 	

 Signature Guaranteed by: 

			
	  
	  	

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 Securities and/or check to be issued to: 
 Please insert social security or identifying number: 
 Name: 
 Street Address: 
 City, State and Zip Code: 
  

 A-6 

 ASSIGNMENT FORM 
 To assign this Warrant, fill in the form below: 
 I or we assign and transfer this Warrant to 
 (Print or type assignee’s name, address and zip code) 
 (Insert
assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint
                     agent to transfer this Warrant on the books of the Company. The agent may substitute another to act for him. 
  

							
	  
	 	

 Date:
                    ,              
 Your
Signature.                                       
                                         
                                         
                                
 (Sign exactly as your name appears on the face of any Certificated Warrant Certificate) 
  

							
	  
	 	

 (Street Address) 
  

							
	  
	 	
	(City)	 	(State)	 	(Zip Code)	 	

 Signature Guaranteed by: 

							
	  
	 	

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 Date:
                    ,              
  

 A-7 

 Exhibit B(1) 
 [GLOBAL WARRANT LEGEND] 
 Any Global Warrant countersigned and delivered hereunder shall bear a legend in
substantially the following form: 
 THIS SECURITY IS A GLOBAL WARRANT WITHIN THE MEANING OF THE WARRANT AGREEMENT HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS SECURITY IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
WARRANT AGREEMENT, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE
REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE WARRANT AGREEMENT. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
  

 B(1)-1 

 Exhibit B(2) 
 [UNIT LEGEND] 
 Any Warrant issued on or after the Issue Date and prior to the Separation Date shall bear
the legend set forth in the following paragraph: 
 THE WARRANTS EVIDENCED BY THIS CERTIFICATE ARE INITIALLY ISSUED AS PART OF AN ISSUANCE OF
UNITS, EACH OF WHICH CONSISTS OF $1,000 PRINCIPAL AMOUNT AT MATURITY OF THE 13% SENIOR SECURED NOTES DUE 2017 OF LOUISIANA-PACIFIC CORPORATION (THE “NOTES”) AND ONE WARRANT (EACH, A “WARRANT” AND COLLECTIVELY, THE
“WARRANTS”), EACH WARRANT INITIALLY ENTITLING THE HOLDER THEREOF TO PURCHASE 49.0559 SHARES OF COMMON STOCK, $1.00 PAR VALUE, OF LOUISIANA-PACIFIC CORPORATION (THE “COMMON STOCK”). PRIOR TO THE SEPARATION DATE (AS DEFINED IN THE
WARRANT AGREEMENT), THE WARRANTS EVIDENCED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED OR EXCHANGED SEPARATELY FROM, AND MAY BE TRANSFERRED OR EXCHANGED ONLY TOGETHER WITH, THE NOTES. 
  

 B(2)-1 

 Exhibit B(3) 
 [RESTRICTED COMMON STOCK LEGEND] 
 Any Warrant exercised for Common Stock prior to the removal of the
restricted legends on the Warrant shall cause the Common Stock received in exchange for the Warrant to bear the legend set forth in the following paragraph: 
 “THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH SECURITY MAY BE
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) TO A PERSON WHO IS NOT ONE OF OUR “AFFILIATES” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) NOR ACTING ON OUR BEHALF AND (a) IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS),
(ii) TO THE COMPANY, OR (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE
HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY.” 
  

 B(3)-1 

 Exhibit C 
 CERTIFICATE TO BE DELIVERED UPON EXCHANGE 
 OR REGISTRATION OF TRANSFER OF WARRANTS 
 Re: Warrants to Purchase Common Stock (the “Warrants”) of Louisiana-Pacific Corporation. 
 This Certificate relates to              Warrants held by
             (the “Transferor”). 
 The Transferor has requested
the Warrant Agent by written order to exchange or register the transfer of a Warrant or Warrants. 
 In connection with such request and in respect of each such Warrant, the Transferor hereby certifies that the Transferor is familiar with the Warrant Agreement dated as of March 10, 2009, between
Louisiana-Pacific Corporation, a Delaware corporation, and Computershare Trust Company, N.A., as warrant agent (the “Warrant Agreement”), relating to the above captioned Warrants and the restrictions on transfers thereof as provided
in Section 6 of such Warrant Agreement, and that the transfer of this Warrant does not require registration under the Securities Act of 1933, as amended (the “Act”), because*: 
  ̈ Such Warrant is being acquired
for the Transferor’s own account, without transfer (in satisfaction of Section 6(a)(y)(A) of the Warrant Agreement). 
  ̈ Such Warrant is being transferred to a qualified institutional buyer (as defined in Rule 144A under the Act) in reliance on Rule 144A or is being transferred in accordance with Regulation S under the Act. 

 ̈ Such Warrant is being transferred in accordance with Rule 144 under the Act. 
  ̈ Such Warrant is being transferred in reliance on and in compliance with an exemption from the registration
requirements of the Act, other than Rule 144A or Rule 144 or Regulation S under the Act. An opinion of counsel to the effect that such transfer does not require registration under the Act accompanies this Certificate. 
  

			
	  

	 [INSERT NAME OF TRANSFEROR]

		
	 By:
	 	  

 Date:
                                        

  

	
	  

	 * Check applicable box.

  

 C-1 

 Exhibit D 
 [Form of Transferee Letter of Representation 
 in Connection with Transfers to Institutional Accredited
Investors] 
 Computershare Trust Company, N.A. 
 250 Royall
Street 
 Canton, MA 02021 
 Attn: Reorganization Departments

 Ladies and Gentlemen: 
 In connection with
our proposed purchase of warrants to purchase Common Stock, par value $1.00 per share (the “Securities”), of Louisiana-Pacific Corporation (the “Company”), we confirm that: 
 1. We understand that the Securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and,
unless so registered, may not be offered, sold or otherwise transferred except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or
otherwise transfer such Securities prior to the date which is one year after the later of the date of original issue and the last date on which the Company or any affiliate of the Company was the owner of such Securities (or any predecessor
Securities) (the “Resale Restriction Termination Date”) only (a) to the Company, (b) pursuant to a registration statement which has been declared effective under the Securities Act, (c) for so long as the Securities
are eligible for resale pursuant to Rule 144A under the Securities Act, to a person we reasonably believe is a qualified institutional buyer as defined in Rule 144A (a “QIB”) that purchases for its own account or for the account of
a QIB and to whom notice is given that the transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act, (e) to an
institutional “accredited investor” within the meaning of subparagraph (a)(1), (a)(2), (a)(3) or (a)(7) of Rule 501 under the Securities Act that is acquiring the Securities for its own account or for the account of such an institutional
“accredited investor”, for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act, or (f) pursuant to another available exemption from the registration
requirements of the Securities Act, subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all times within our or their control and to
compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Securities is proposed to be made pursuant to
clause (e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the warrant agent under the Warrant Agreement pursuant to which the
Securities were issued (the “Warrant Agent”) which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of subparagraph (a)(1), (a)(2), (a)(3) or (a)(7) of
Rule 501 under the Securities Act and that it is acquiring such Securities for investment purposes and not for distribution in violation of the Securities Act. The Warrant Agent and the Company reserve the right prior to 

  

 D-1 

 
any offer, sale or other transfer prior to the Resale Restriction Termination Date of the Securities pursuant to clause (c), (d), (e) or (f) above
to require the delivery of a written opinion of counsel, certifications, and or other information satisfactory to the Company and the Warrant Agent. 
 2. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (a)(2), (a)(3) or (a)(7) of Regulation D under the Securities Act) purchasing for our own account or for the account of such an
institutional “accredited investor”, and we are acquiring the Securities for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act and we have such
knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Securities, and we and any accounts for which we are acting are each able to bear the economic risk of our or its
investment for an indefinite period. 
 3. We are acquiring the Securities purchased by us for our own account or for one or more accounts as
to each of which we exercise sole investment discretion. 
 4. You and your counsel are entitled to rely upon this letter and you are
irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
  

			
	 Very truly yours,

	
	  

	 (Name of Purchaser)

		
	 By:
	 	  

	 Date:
	 	  

 Upon transfer the Securities would be registered in the name of the new beneficial owner as
follows: 
  

			
	Name:	 	  

	Address:	 	  

			
	Taxpayer ID Number:	 	  

  

 D-2 

 Exhibit E 
 [Form of Transferee Letter of Representation 
 in Connection with Transfers Pursuant to Regulation S]

 Computershare Trust Company, N.A. 
 250 Royall Street

 Canton, MA 02021 
 Attn: Reorganization Departments 

Ladies and Gentlemen: 
 In connection with our proposed
purchase of warrants (the “Securities”) to purchase Common Stock, par value $1.00 per share, of Louisiana-Pacific Corporation (the “Company”), we confirm that such sale has been effected pursuant to and in
accordance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that: 
 (1) The undersigned certifies that it is not a U.S. person, is not acquiring the Securities for the account or benefit of any U.S. person and is not exercising the Securities on behalf of a U.S. person. 
 (2) The undersigned agrees to resell the Securities only in accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act of 1933 or pursuant to an available exemption from registration. 
 (3) The undersigned agrees not to
engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act. 
 You and your counsel are
entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Defined terms
used herein without definition have the respective meanings provided in Regulation S under the Securities Act. 
  

			
	 Very truly yours,

	
	
	 (Name of Purchaser)

		
	 By:
	 	  

 Upon transfer the Securities would be registered in the name of the new beneficial owner as
follows: 
  

			
	 Name:
	 	  

	 Address:
	 	  

			
	 Taxpayer ID Number:
	 	  

  

 E-1

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