SEC Contract Filing

Filing Date: 2021-03-01

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d468860dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION<B> </B>VERSION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SERIES
A PREFERRED STOCK REPURCHASE AND EXCHANGE AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">THIS REPURCHASE AND EXCHANGE AGREEMENT (this &#147;<B>Agreement</B>&#148;) is
made and entered into as of the 26th day of February, 2021, by and among Eastman Kodak Company, a New Jersey corporation (the &#147;<B>Company</B>&#148;), Longleaf Partners <FONT STYLE="white-space:nowrap">Small-Cap</FONT> Fund, C2W Partners Master
Fund Limited, and Deseret Mutual Pension Trust (each a &#147;<B>Holder</B>&#148; and collectively, the &#147;<B>Holders</B>&#148;), and Southeastern Asset Management, Inc. (&#147;<B>Southeastern</B>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Holders desire to sell to the Company, and the Company desires to repurchase and accept from the Holders, in the aggregate, 1,000,000 shares of the Company&#146;s 5.50% Series A Convertible Preferred Stock (the &#147;<B>Series A Preferred
Stock</B>&#148;) held by such Holders individually in the amounts identified on <U>Exhibit A</U> subject to the terms and conditions set forth in this Agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the parties hereto intend to effect a further transaction by which the Holders will transfer and deliver to the Company all of the
remaining 1,000,000 shares of the Series A Preferred Stock not repurchased by the Company (the &#147;<B>Remaining Series A Preferred Stock</B>&#148;) held by each such Holder as identified on <U>Exhibit B</U> in exchange for shares of the 4.0%
Series B Convertible Preferred Stock having the terms set forth with respect thereto in the Series B Certificate of Designations (the &#147;<B>Series B Preferred Stock</B>&#148;) on a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis (the &#147;<B>Share Exchange</B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements set forth herein, the
Company and the Holders hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1. <U>Repurchase</U>. Upon the terms and subject to the conditions set forth in this
Agreement, and in reliance on the representations, warranties and covenants contained herein, at the Closing (as defined below), each Holder identified on <U>Exhibit A</U>, severally and not jointly, agrees to sell, assign, convey, transfer and
deliver to the Company, and the Company agrees to repurchase and accept from each such Holder, the shares of the Series A Preferred Stock (which total number of Series A Preferred Stock held by each such Holder to be repurchased by the Company in
accordance with this Agreement is set forth opposite such Holder&#146;s name on <U>Exhibit</U><U></U><U>&nbsp;A</U>), free and clear of any Liens, for a cash amount per share of the Series A Preferred Stock equal to the Closing Per Share Price (the
&#147;<B>Series A Repurchase</B>&#148;). The aggregate cash amount equal to the product of (a)&nbsp;the Closing Per Share Price, <I>multiplied by </I>(b)&nbsp;one million (1,000,000) is referred to in this Agreement as the &#147;<B>Purchase
Price</B>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. <U>Share Exchange</U>. Upon the terms and subject to the conditions set forth in this Agreement, and in reliance on
the representations, warranties and covenants contained herein, effective at the Closing, the Company hereby exchanges, transfers and delivers to each Holder identified on <U>Exhibit B</U>, and each Holder identified on <U>Exhibit B</U> hereby
acquires from the Company, the shares of the Series B Preferred Stock in exchange for, on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis, each share of Remaining Series A Preferred Stock set forth
opposite such Holder&#146;s name on <U>Exhibit B</U>. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. <U>Closing</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">a. <U>Time of Closing</U>. Subject to the terms and conditions of this Agreement, the closing of the transactions contemplated by this
Agreement (the &#147;<B>Closing</B>&#148;) shall be held at 10:00 a.m. New York time, as soon as reasonably practicable (which may be the date hereof) after the conditions set forth in <U>Section</U><U></U><U>&nbsp;7</U> (other than those conditions
that by their nature are to be satisfied at the Closing, but subject to their satisfaction) are satisfied or waived, or at such ot