Execution Copy
PURCHASE AND SALE AGREEMENT
BY AND BETWEEN
S.D. WARREN COMPANY
AS SELLER
AND
PLUM CREEK TIMBER COMPANY, L.P.
AS PURCHASER
DATED AS OF OCTOBER 5, 1998
TABLE OF CONTENTS
Page
1. PURCHASE OF LLC INTEREST. . . . . . . . . . . . . . . 2
2. PURCHASE PRICE AND TERMS. . . . . . . . . . . . . . . 2
2.1. PURCHASE PRICE. . . . . . . . . . . . . . . 2
2.2. ADJUSTMENT TO PURCHASE PRICE. . . . . . . . 2
3. CLOSING . . . . . . . . . . . . . . . . . . . . . . . 3
4. REPRESENTATIONS AND WARRANTIES OF SELLER. . . . . . . 3
4.1. ORGANIZATION AND CORPORATE POWER. . . . . . 3
4.2. AUTHORIZATION . . . . . . . . . . . . . . . 3
4.3. NO VIOLATION OR CONFLICTS . . . . . . . . . 3
4.4. CONTRACTS, LEASES AND ACCESS RIGHTS AND
EASEMENTS . . . . . . . . . . . . . . . . . . . . . . 4
4.5. ENVIRONMENTAL MATTERS . . . . . . . . . . . 4
4.6. SUITS, ACTIONS OR PROCEEDINGS . . . . . . . 5
4.7. BROKER FEES . . . . . . . . . . . . . . . . 5
4.8. COMPLIANCE. . . . . . . . . . . . . . . . . 6
4.9. TITLE . . . . . . . . . . . . . . . . . . . 6
4.10. TAXES. . . . . . . . . . . . . . . . . 6
4.11. LLC INTEREST AND SUBSIDIARIES. . . . . 6
4.12. EMPLOYMENT AGREEMENT AND BENEFITS. . . 7
4.13. LABOR RELATIONS AND EMPLOYMENT.. . . . 8
4.14. ABSENCE OF CHANGES . . . . . . . . . . 8
4.15. CONDUCT OF BUSINESS. . . . . . . . . . 8
4.16. ANCILLARY AGREEMENTS . . . . . . . . . 9
4.17. ACCURACY AND COMPLETENESS OF
REPRESENTATIONS . . . . . . . . . . . . . . . . . . . 9
5. REPRESENTATIONS AND WARRANTIES OF PURCHASER . . . . . 9
5.1. ORGANIZATION AND POWER. . . . . . . . . . . 9
5.2. AUTHORIZATION; NO VIOLATION OR CONFLICTS. . 9
5.3. BROKER FEES . . . . . . . . . . . . . . . .10
5.4. SUITS, ACTIONS OR PROCEEDINGS . . .