Kodak and Lenders Finalize Terms of Interim and Exit Financing

As part of the agreement, certain terms of the financing have been amended. Kodak now is committed to achieving at least $600 million in cash proceeds through the disposition of any combination of specified non-Commercial Imaging assets, which include its Document Imaging and Personalized Imaging businesses, and trademarks and related rights. Additionally, in anticipation of a Plan of Reorganization to be filed by the company in April 2013, Kodak, along with the Steering Committee of the Second Lien Noteholders and the Unsecured Creditors Committee, will jointly hire a search firm to begin identifying potential new directors for the board of directors who will lead the reorganized Kodak following emergence. The existing board also expects to appoint an additional independent director following closing of the financing. This director would be available to continue to serve on the board following Kodak’s emergence.