Exhibit 10.22.2



|[APPLETON PAPERS LOGO] | [APPLETON COATED LOGO]
|---------------------- | ----------------------



Note: The information designated by a bracketed asterisk [*] has been omitted pursuant to a request for confidential treatment and has been filed separately with
the Securities and Exchange Commission.



AMENDMENT OF

MEMORANDUM OF AGREEMENT

YEARS 2004-2005

BASESTOCK SUPPLY AGREEMENT (effective as of June 27, 2001)



For valuable consideration, the above-referenced agreement (herein Agreement)
shall be and it is hereby amended as follows:



|1. | Section 1., VOLUME/MIX, is amended so as to provide, in its entirety, as follows:
|-- | ---------------------------------------------------------------------------------



Except as hereinafter provided, Buyer shall be obligated to purchase from Seller, and Seller shall be obligated to
sell to Buyer, (i) 75,000 tons (2,000 lbs/ton), total, of the grades listed in Schedule 1 of this Amendment, in Agreement Year 2004 and (ii) 40,000 tons, total, of the grades listed in Schedule 1 of this amendment, in Agreement Year 2005. The
volumes set forth above are hereinafter referred to as the Annual Volume(s).



Buyers purchases of the Opaque Grades listed in Schedule 1, shall be limited to not more than 25% of the Annual Volume in Agreement Year 2004 and 2005.



Except as hereinafter provided or from time-to-time agreed by the
parties, Buyer will purchase and Seller will make available the Annual Volume utilizing a level load pattern of equal monthly volumes. Adjustments for scheduled Holiday Downs will be planned and agreed to in advance. Buyer shall have the
ability to alter volumes by plus or minus ten percent (10%) per calendar quarter provided that Buyer shall have given Seller notice, of its intention to alter said volumes, at least 90 days prior to the beginning of the calendar quarter in question.
Seller will provide any additional tonnage at the same terms as stated in this Agreement. Each quarterly option of Buyer to alter volumes shall be limited to plus or minus ten percent (10%). If Buyer does not elect to alter volumes by plus or minus
ten percent (10%) in any given quarter, such option to elect shall not carry over and/or be available in addition to the 10% volume alteration option available in the following quarter. If Buyer does elect to alter volumes by plus or minus ten
percent (10%) in any given quarter, Annual Volume requirements under this Agreement shall be adjusted accordingly.



Additionally, Buyer agrees to purchase product (on or before January 1, 2005), per section 7 below, required to bring the consignment inventory to
10% of the



---

Annual Volume agreed to for the 2005 Agreement Year. Any year-end purchases made by Buyer to adjust the consignment inventory shall be in addition to the
Buyers Annual Volume commitment.



|2. | Section 3., Grade Mix,is amended by deleting the last sentence and substituting the following sentence:
|-- | -------------------------------------------------------------------------------------------------------



All grades represented in Schedule 1 of this Amendment are considered
qualified grades for purposes of meeting the Annual Volume requirements under this Agreement.



|3. | Section 4., Payment Terms,is amended so as to read, in its entirety, as follows:
|-- | --------------------------------------------------------------------------------



Terms are two percent (2%) discount if paid via electronic fund transfer to Sellers financial institution (if
capable), within the time periods specified in Schedule 3 to this Agreement; otherwise, the discount shall be one percent (1%) if paid within 20 days from date of invoice, net 30 days. Except as provided in Section 7 hereof, title shall be deemed
transferred at time of shipment or, as the case may be, release from the consignment inventory.



|4. | Section 6., TERM,is amended by deleting the first sentence and substituting the following two sentences therefor:
|-- | -----------------------------------------------------------------------------------------------------------------



This Agreement is effective as of December 28, 2003 and extends for one
fiscal year beyond the current Amendment, thereby ending on January 2, 2006. As utilized herein, the term Agreement Year refers to a fiscal year ending on the Saturday that is closest to December 31 in the year in question.



|5. | Section 7., SERVICE, is amended so as to provide in its entirety as follows:
|-- | ----------------------------------------------------------------------------



Seller agrees to maintain a consignment inventory of product. Seller will maintain as Sellers inventory, a
maximum of 7,000 tons in Agreement Year 2004 and 3,500 tons in Agreement Year 2005. Seller will maintain an additional 500 tons of in-transit inventory if required to support Buyers Purchase Order due dates. For the Agreement year 2004, Buyer
and Seller will review, on June 1, 2004, the anticipated Annual Volume and reset the consignment inventory maximum (including tons in transit) to be 10% of such anticipated Annual Volume. On October 1, 2004, Buyer and Seller will review
the anticipated Annual Volume for the 2005 Agreement Year (currently 40,000 tons) and set the 2004 Year end consignment target to be 10% of the 2005 anticipated Annual Volume. Seller agrees to utilize Buyers leased warehouse space on Radio
Road or other mutually agreed upon site for storage of the consignment inventory. Seller also agrees to be responsible for the monthly warehouse rental charges for the space utilized to manage this consignment inventory at a cost not to exceed
Buyers leased space rate. Notwithstanding any other provision herein, Product



2



---

within this inventory will be purchased by and title transferred to Buyer, either when withdrawn from said inventory, or, if not withdrawn, upon reaching 90
days in the consignment inventory.



|6. | Section 8., ORDER MINIMUMS, is amended so as to provide, in its entirety, as follows:
|-- | -------------------------------------------------------------------------------------



Order minimums and run frequencies shall be as specified in Schedule 1 to this Agreement.



|7. | Section 9., TRIM,is amended so as to provide, in its entirety, as follows:
|-- | --------------------------------------------------------------------------



All trim charges are established by grade for all grades listed on Schedule 2 of this agreement. Buyer, at time of
order, will calculate all applicable trim charges and will adjust its Purchase Order for said adjustment per the charges in Schedule 2 of this Agreement.



|8. | Section 10., PRICING, is amended so as to provide, in its entirety, as follows:
|-- | -------------------------------------------------------------------------------



Pricing is per Schedule 1, for Agreement Years 2004 and 2005.



|9. | Section 11., CONTINUOUS COST REDUCTION, is deleted in its entirety; however, deletion of said section shall not result in or require the renumbering of the remaining sections
of the Agreement .
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|10. | Section 12., QUALITY, is amended by changing the first sentence thereof so as to provide as follows:
|--- | ----------------------------------------------------------------------------------------------------



All products shall meet or exceed the quality specifications as
described in Buyers basestock specification (including basestock finishing specifications) in effect on January 24, 2003 or thereafter adopted by mutual agreement of the parties.



|11. | Section 13., INTERFACES, is changed so as to provide, in its entirety, as follows:
|--- | ----------------------------------------------------------------------------------



Issues related to pricing, terms, service issues and other matters arising hereunder shall be coordinated by
BuyersHQ Procurement Specialist (currently Ed Hammond) and Sellers Vice President of Logistics and Information Technology (currently Dan Regal) or his or her designee.



|12. | Section 17, EXECUTION,is deleted in its entirety; however, deletion of said section shall not result in or require the renumbering of the remaining sections of the
Agreement.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



3



---

|13. | A new Section, identified as Section 31, Business Review, is added, said new Section, to provide, in its entirety, as follows:
|--- | --------------------------------------------------------------------------------------------------------------------------------



Buyer and Seller agree to conduct a Strategic Business Review annually
during the first calendar quarter of each year of this Agreement



|14. | Schedules, Prior Amendments, and Implied Terms.Schedules 1 through 4 and 7 to the Agreement shall be and they are hereby cancelled and annulled for all purposes. The
Schedules annexed to this Addendum, and identified as Schedule 1, Schedule 2, and Schedule 3, shall be and they are hereby incorporated herein by reference. Schedules 5 and 6 to the Agreement remain in full force
and effect. References, in the Agreement, to Schedule 2 are hereby deemed amended so as to refer instead to annexed Schedule 1. All prior amendments to the Agreement, including that certain Amendment of Basestock Supply Agreement Dated June
27, 2001, shall be and they are hereby cancelled and annulled for all purposes. Sections of the Agreement that are not referenced in this Amendment shall be deemed amended, by implication, in order to give effect to the intention of the
parties as set forth in this Amendment.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Except as otherwise
provided herein, all terms and conditions of the Agreement shall be and remain in full force and effect.



|           |  |                      |  |                    
|---------- |  | -------------------- |  | -------------------
|           |  | APPLETON PAPERS INC. |  | APPLETON COATED LLC
|           |  |                     
|SIGNATURE: |  | /s/ Rick Fantini     |  | /s/ Dan Regal      
|           |  |                      |  |                    
|TITLE:     |  | Vice President       |  | VP Logistics & I.T.
|           |  |                      |  |                    
|DATE:      |  | 2/25/04              |  | 1-27-04            
|           |  |                      |  |                    



4



---

2004 Pricing / Making Master Breakout

SCHEDULE 1



ALL PRICES LISTED ARE PER HUNDRED WEIGHT PRICING



ALL GRADES REQUIRE 24 HOUR MINIMUM RUN LENGTH UNLESS MUTUALLY AGREED TO BETWEEN
AC AND API



FOR 61.1, 43.3, AND 50.8 DULL GRADES WE WILL RUN A MINIMUM 12 HOUR
RUN PER GRADE IN A 24 HOUR RUN SCHEDULE



ALL PRICES INCLUDE FREIGHT TO
DESTINATION IN THE FOX VALLEY



|                                     |  |           |  |           |  |                    |  |  |            
|------------------------------------ |  | --------- |  | --------- |  | ------------------ |  |  | -----------
|                                     |  |           | 
|Grade Description:                   |  | #6 PM MM# |  | #7 PM MM# |  | 2004 /2005Pricing: |  |  |            
|                                     |  |           | 
|Group #1 Grades Mfged in 2003       |  |           |  |           |  |                    | 
|26.2# White NSST                     |  | 3132      |  | 9430      |  | [ * ]              |  |  |            
|46.5# Wh OBA Ctg Base                |  |          |  | 8018      |  |                    |  |  |            
|28.0# Wh Hi-Strength Base            |  |          |  | 8020      |  |                    |  |  |            
|61.1# White OBA Base                 |  |          |  | 8089      |  |                    |  |  |            
|37.8# Wh Integra Ctg Base            |  | 8119      |  | 8395      |  |                    |  |  |            
|30.2# CN PRCT                        |  | 8386      |  | 8248      |  |                    |  |  |            
|26.25# WH Hi-Strength                |  |          |  | 8452      |  |                    |  |  |            
|26.2# CN ST Base                     |  | 8025      |  | 8075      |  |                    |  |  |            
|43.3# Dull Label Base                |  |          |  | 8457      |  |                    |  |  |            
|31.1# WH THRML Fax                   |  |          |  | 8081      |  |                    |  |  |            
|34# WH OPAQUE Base                   |  | 8467      |  | 8466      |  |                    |  |  |            
|30.5# WH OPAQUE Base                 |  | 9238      |  | 9643      |  |                    |  |  |            
|34# WH OBA Base #7                   |  |          |  | 8321      |  |                    |  |  |            
|43.3# WH LBL Base                    |  |          |  | 8907      |  |                    |  |  |            
|61.1# WH NO OBA (DULL)               |  |          |  | 9774      |  |                    |  |  |            
|50.8# WH NO OBA (DULL)               |  | 9980      |  | 9115      |  |                    |  |  |            
|31.1# WH THRML FAX (CFS Back)        |  |          |  | 9750      |  |                    |  |  | Eff. 3/1/04
|                                     |  |           |  |           |  |                    |  |  |            
|                                     |  |           | 
|Grade Description:                   |  | #6 PM MM# |  | #7 PM MM# |  | 2004Pricing:       |  |  |            
|                                     |  |           | 
|Group #2 Grades Mfged Prior to 2003 |  |           |  |           |  |                    |  |  |            
|33# WH ST CTG Base                   |  | 8238      |  |          |  | [ * ]              |  |  |            
|30.20 PK PRCT                        |  | 8390      |  | 8264      |  |                    |  |  |            
|26.8# Pink Superior                  |  | 8296      |  |          |  |                    |  |  |            
|26.8# Green Superior                 |  | 8318      |  |          |  |                    |  |  |            
|26.8# Gold Superior                  |  | 8328      |  |          |  |                    |  |  |            
|26.8# Blue Superior                  |  | 8370      |  |          |  |                    |  |  |            
|26.25# WH Histrgth HBNT NO OBA       |  |          |  | 8452      |  |                    |  |  |            
|26.2# WH RST30 CTG Base              |  | 8065      |  |          |  |                    |  |  |            
|30.9# WH RST30 Ctg Base              |  | 8066      |  |          |  |                    |  |  |            
|27.1# PJK Premium Base               |  | 8103      |  |          |  |                    |  |  |            
|26.8# Canary Superior Base           |  | 8276      |  |          |  |                    |  |  |            
|26.8# WH Superior Base               |  |          |  |          |  |                    |  |  |            
|26.8# WH For Sprint CFB Base         |  |          |  |          |  |                    |  |  |            
|30.2# White For PRCT                 |  | 8392      |  | 8245      |  |                    |  |  |            
|38# WH OPAQUE Base                   |  |          |  | 9268      |  |                    |  |  |            



5



---

|                          |  |           |  |           |  |                 
|------------------------- |  | --------- |  | --------- |  | ----------------
|                         
|Grade Description:        |  | #6 PM MM# |  | #7 PM MM# |  | 2004    Pricing:
|                         
|Group 3 Grades Eliminated |  |           |  |           |  |                 
|26.25# WH CTG BS NO OBA   |  | 8031      |  |           |  |                 
|29.9# WHT PRCT            |  | 8041      |  |           |  |                 
|28.3# WH Ultimark         |  | 8077      |  |           |  |                 
|27.1# CN PREM             |  | 8113      |  |           |  |                 
|30.1# WH HI-BLK           |  | 8140      |  |           |  |                 
|30.9# WH ST               |  | 8216      |  |           |  |                 
|29.9# CAN PRECT           |  | 8387      |  |           |  |                 
|30.2# WH PRECT            |  | 8392      |  |           |  |                 
|29.9# OK PRECT            |  | 8394      |  |           |  |                 
|39.5# WH ST               |  | 8420      |  |           |  |                 
|29.9# CAN PRECT           |  | 8423      |  |           |  |                 
|29.9# PK PRECT            |  | 8424      |  |           |  |                 
|27.8# WH SCCB HI-STRGTH   |  | 9041      |  |           |  |                 
|27.1# PK PRM HI-STRNGTH   |  | 9077      |  |           |  |                 
|28.3# ULTMK HI-STRNGTH    |  | 9229      |  |           |  |                 
|30.1# WH OPAQUE           |  | 9323      |  |           |  |                 
|40# WH OPAQUE             |  | 9639      |  |           |  |                 
|30.9# WH ST               |  | 9429      |  |           |  |                 
|26.2# WH ST               |  | 9430      |  |           |  |                 
|38.1# PREM PRECT WH       |  | 9455      |  |           |  |                 



6



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[Appleton Logo]



Appleton Ideas Basestock Trim Upcharge Guidelines



SCHEDULE 2

|              |  |                                       |  |      |  |       |  |                         |  |                |  |                |  |                                                                                 |  |                     |  |                     |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|------------- |  | ------------------------------------- |  | ---- |  | ----- |  | ----------------------- |  | -------------- |  | -------------- |  | ------------------------------------------------------------------------------- |  | ------------------- |  | ------------------- |  | --------------------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | ----------- |  | -----------
|              |  | Red denotes grades not on APIs list. |  | 2002 |  | 2003  |  | 2004                    |  | 2004           |  | 2004           |  | 2004 Trim Adjusted Pricing (Inches of Variance from 2002/2003 Weighted Average)
|ProductFamily |  | MM                                    |  | Mach |  | BW    |  | Description             |  | 2002ActualTrim |  | 2002ActualTons |  | ActualTrim(thruSEP)                                                             |  | ActualTons(thruSEP) |  | AverageTrimStandard |  | $/Ton/InchTrimPenalty |  | BasePrice   |  | 0-1       |  | 1-2       |  | 2-3       |  | 3-4       |  | 4-5       |  | 5-6       |  | 6-7       |  | 7-8       |  | 8-9       |  | 9-10     
|C             |  | 9572/8075                             |  | 7    |  | 26.2  |  | CAN ST Base             |  | 209.11         |  | 1,607          |  | 198.10                                                                          |  | 365                 |  | 198.10              |  | [    *    ]           |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ] |  | [    *    ]
|C             |  | 9563/8025                             |  | 6    |  | 26.2  |  | CAN ST Base             |  | 214.70         |  | 1,015          |  | 207.60                                                                          |  | 374                 |  | 198.10              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 3132                                  |  | 6    |  | 26.2  |  | WH ST BS-CM             |  | 211.24         |  | 797            |  | 216.43                                                                          |  | 340                 |  | 216.43              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 9153/8452                             |  | 7    |  | 26.25 |  | WH Hbt Nonoba Histgth   |  | 214.59         |  | 4,412          |  | 217.91                                                                          |  | 4,005               |  | 217.91              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8020                                  |  | 7    |  | 28    |  | WH SCCB Base            |  | 201.77         |  | 2,408          |  | 199.15                                                                          |  | 1,848               |  | 199.15              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8248                                  |  | 7    |  | 30.2  |  | CAN Precoat Premium     |  | 213.00         |  | 1,765          |  | 0                                                                               |  | 0                   |  | 213.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8386                                  |  | 6    |  | 30.2  |  | CAN Precoat Premium     |  | 217.20         |  | 588            |  | 213.76                                                                          |  | 2,680               |  | 213.76              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8321                                  |  | 7    |  | 34    |  | WH Base                 |  | 212.04         |  | 189            |  | 213.11                                                                          |  | 192                 |  | 213.11              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8395                                  |  | 7    |  | 37.8  |  | WH Integra Base         |  | 207.25         |  | 14             |  | 0                                                                               |  | 0                   |  | 207.25              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8119                                  |  | 6    |  | 37.8  |  | WH Integra Base         |  | 217.73         |  | 538            |  | 219.31                                                                          |  | 792                 |  | 219.31              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8264                                  |  | 7    |  | 30.2  |  | PK Precoat Premium      |  | 223.50         |  | 345            |  |                                                                                |  | 0                   |  | 223.50              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8390                                  |  | 6    |  | 30.2  |  | PK Precoat Premium      |  | 213.00         |  | 732            |  |                                                                                |  | 0                   |  | 213.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8296                                  |  | 6    |  | 26.8  |  | Pink                    |  | 213.00         |  | 870            |  |                                                                                |  | 0                   |  | 213.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8318                                  |  | 6    |  | 26.8  |  | Green                   |  | 213.00         |  | 480            |  |                                                                                |  | 0                   |  | 213.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8328                                  |  | 6    |  | 26.8  |  | Gold                    |  | 213.00         |  | 538            |  |                                                                                |  | 0                   |  | 213.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8370                                  |  | 6    |  | 26.8  |  | Blue                    |  | 213.65         |  | 895            |  |                                                                                |  | 0                   |  | 213.65              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8065                                  |  | 6    |  | 26.2  |  | Wh RST 30 Ctg Bs        |  | 215.51         |  | 160            |  |                                                                                |  | 0                   |  | 215.51              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8066                                  |  | 6    |  | 30.9  |  | Wh RST 30 Ctg Bs        |  | 215.70         |  | 304            |  |                                                                                |  | 0                   |  | 215.70              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8103                                  |  | 6    |  | 27.1  |  | Pink Premium            |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8276                                  |  | 6    |  | 26.8  |  | Canary                  |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8371                                  |  | 7    |  | 26.8  |  | White                   |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 9078                                  |  | 7    |  | 26.8  |  | Pink Histgth            |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8265                                  |  | 6    |  | 26.8  |  | Wh For Sprint           |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8245                                  |  | 7    |  | 30.2  |  | Wh Precoat              |  |               |  | 0              |  |                                                                                |  | 0                   |  | 214.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|C             |  | 8238                                  |  | 6    |  | 33    |  | White ST Base           |  | 220.50         |  | 127            |  |                                                                                |  | 0                   |  | 220.50              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9643                                  |  | 7    |  | 30.5  |  | WH Opaque Base          |  | 221.00         |  | 8              |  | 218.83                                                                          |  | 4,669               |  | 218.83              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9238/8891                             |  | 6    |  | 30.5  |  | WH Converter Base       |  | 218.04         |  | 2,143          |  | 216.73                                                                          |  | 2,811               |  | 216.73              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9322/8467                             |  | 6    |  | 34    |  | WH Opaque Base          |  | 201.48         |  | 1,893          |  | 201.59                                                                          |  | 3,278               |  | 201.59              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9641/8466                             |  | 7    |  | 34    |  | WH Opaque Base          |  | 198.68         |  | 533            |  | 202.71                                                                          |  | 2,173               |  | 202.71              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9115                                  |  | 7    |  | 50.8  |  | White Dull              |  |               |  | 0              |  |                                                                                 |  |                     |  | 206.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|O             |  | 9980                                  |  | 6    |  | 50.8  |  | White Dull              |  |               |  | 0              |  |                                                                                 |  |                     |  | 206.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8081                                  |  | 7    |  | 31.1  |  | WH Thermal Fax Base     |  | 209.99         |  | 27,332         |  | 209.18                                                                          |  | 18,283              |  | 209.18              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 9857/8457                             |  | 7    |  | 43.3  |  | WH Label Base OBA       |  | 215.25         |  | 209            |  | 219.02                                                                          |  | 1,638               |  | 217.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8907                                  |  | 7    |  | 43.3  |  | WH Label Base OBA       |  | 219.09         |  | 21,604         |  | 217.57                                                                          |  | 16,485              |  | 217.57              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8018                                  |  | 7    |  | 46.5  |  | WH Ctg Base OBA         |  | 212.82         |  | 891            |  | 212.14                                                                          |  | 794                 |  | 212.14              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8018                                  |  | 7    |  | 46.5  |  | WH Ctg Base OBA         |  | 212.82         |  | 3,106          |  | 212.14                                                                          |  | 3,403               |  | 212.14              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8089                                  |  | 7    |  | 61.1  |  | WH Base OBA             |  | 214.88         |  | 857            |  | 215.14                                                                          |  | 773                 |  | 215.14              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 9750                                  |  | 7    |  | 31.1  |  | New Back Coat (CFS Ctg) |  |               |  | 0              |  |                                                                                 |  |                     |  | 210.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            
|T             |  | 8774                                  |  | 7    |  | 61.1  |  | White Dull              |  |               |  | 0              |  |                                                                                 |  |                     |  | 215.00              |  |                       |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |             |  |            



---

SCHEDULE 3





PAYMENT TERMS





|                  |  |                 |  |                  |  |             |  |              |  |                    |  |              
|----------------- |  | --------------- |  | ---------------- |  | ----------- |  | ------------ |  | ------------------ |  | -------------
|ACTUAL USAGE DATE |  | AC INVOICE DATE |  | API VOUCHER DATE |  | AC DUE DATE |  | API EFT DATE |  | AC RECEIPT OF CASH |  | BUSINESS DAYS
|MON               |  | MON             |  | TUE              |  | FRI         |  | FRI          |  | MON                |  | 5            
|TUE               |  | TUE             |  | WED              |  | MON         |  | FRI          |  | MON                |  | 4            
|WED               |  | WED             |  | THU              |  | TUE         |  | FRI          |  | MON                |  | 3            
|THU               |  | THU             |  | FRI              |  | WED         |  | TUE          |  | WED                |  | 4            
|FR/SAT/SU         |  | SUN             |  | MON              |  | THU         |  | TUE          |  | WED                |  | 3