--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Exhibit 10.24.3
 

RESOLUTION OF THE ESOP COMMITTEE
 
OF THE APPLETON PAPERS RETIREMENT SAVINGS
 
AND EMPLOYEE STOCK OWNERSHIP PLAN
 

 
Amendment Number Three to the Appleton Papers Retirement Savings
 
and Employee Stock Ownership Plan
 

 
WHEREAS, pursuant to Section 9.1 of the Appleton Papers Retirement Savings and
Employee Stock Ownership Plan (the “Plan”), Appleton Papers Inc. (the “Company”)
may amend the Plan in whole or in part, at any time and from time to time; and
 
WHEREAS, the Board of Directors of the Company has delegated to the ESOP
Committee the authority to make non-material amendments to the Plan; and
 
WHEREAS, the ESOP Committee has determined that it would be appropriate to adopt
an amendment to the Plan revising the definition of normal retirement age under
the Plan, and clarifying the operation of the Plan’s automatic contribution
arrangement with respect to former employees who are rehired by the Company; and
 
WHEREAS, the ESOP Committee has determined that such an amendment would be a
non-material amendment within the scope of the ESOP Committee’s delegation of
authority from the Board of Directors;
 
NOW, THEREFORE, it is:
 
RESOLVED, that the Plan is hereby amended as set forth in the attached Amendment
Number Three to the Appleton Papers Retirement Savings and Employee Stock
Ownership Plan.
 
IN WITNESS WHEREOF, the undersigned, being all of the members of the ESOP
Committee, to evidence their consent to taking the foregoing actions by written
consent in lieu of a meeting, have caused the above-referenced amendment to be
adopted with effect from the date specified therein.
 

 

 

 

 
[Signatures appear on the following page]
 

 
 

--------------------------------------------------------------------------------

 

 

           
Committee Member
 
Date
                 
/s/ Mark Richards
 
3/8/12
Mark Richards
               
/s/ Thomas J. Ferree
 
3/7/12
Thomas J. Ferree
               
/s/ Kerry S. Arent
 
3/7/12
Kerry S. Arent
               
/s/ Kent Willetts
 
3/7/12
Kent Willetts
               
/s/ Tami Van Straten
 
3/9/12
Tami Van Straten
   

 
 

--------------------------------------------------------------------------------

 

 
AMENDMENT NUMBER THREE
 
TO THE
 
APPLETON PAPERS RETIREMENT SAVINGS AND
 
EMPLOYEE STOCK OWNERSHIP PLAN
 

 
1.           Effective January 1, 2012, the Plan is amended by adding a new
Section 1.53.1, as follows:
 
“1.53.1              Normal Retirement Age
 
The term “Normal Retirement Age” means the earlier of (i) the time that the
Participant has attained the age of 65, and (ii) the time that the Participant
has attained the age of 55 and has completed at least 10 years of Service.”
 
2.           Effective January 1, 2012, Section 1.65 of the Plan is amended in
its entirety to read as follows:
 
“1.65              Retirement
 
The term “Retirement” means the termination of employment of a Participant after
such Participant has attained Normal Retirement Age.”
 
3.           Effective January 1, 2012, Section 2.2(g) of the Plan is amended by
adding the following new subsection (v) at the conclusion thereof:
 
“(v)           If an Employee, after terminating employment, shall be rehired by
the Company and again become eligible Employee, then, solely for the purpose of
this Section 2.2(g), the date as of which such Employee is rehired by the
Company shall be treated as his Date of Employment.”
 
4.           Effective January 1, 2012, Section 4.3(a) of the Plan is amended in
its entirety to read as follows:
 
“(a)           Attainment of Normal Retirement Age while employed by the
Company, a Related Company or an affiliate;”