April 10, 2018 CONFIDENTIALEquity Financing Commitment • April 11th, 2018 • Babcock & Wilcox Enterprises, Inc. • Heating equipment, except electric & warm air furnaces • Delaware
This letter agreement amends and restates in its entirety the prior letter agreement, dated as of March 1, 2018, between Babcock & Wilcox Enterprises, Inc., a Delaware corporation (the “Company”), and Vintage Capital Management LLC (“Vintage”) pursuant to which Vintage agreed to backstop the Company’s rights offering (the “Rights Offering”). Pursuant to the Rights Offering, the Company distributed to all of its common shareholders (“Common Shareholders”) at no charge one purchase right (each a “Right”) per share of common stock (“Common Stock”) of the Company outstanding and held of record as of March 15, 2018 (the “Record Date”).
AMENDMENT NO. 6 TO CREDIT AGREEMENTCredit Agreement • April 11th, 2018 • Babcock & Wilcox Enterprises, Inc. • Heating equipment, except electric & warm air furnaces • New York
