Exhibit 10.29


Fees to be Paid to
the Non-Management Directors 

of Sealed Air Corporation (the “Corporation”) 

2007


Members of the
Board of Directors who are not officers or employees of the Corporation or any
subsidiary of the Corporation (“non-employee directors”) shall be paid the
following directors’ fees in cash, payable quarterly in arrears on or about the
first day of the succeeding calendar quarter, which fees shall be in addition
to retainers payable to non-employee directors under the Sealed Air Corporation
2002 Stock Plan for Non-Employee Directors:


(i)            a fee of One Thousand
Five Hundred Dollars ($1,500) for each meeting of the Board of Directors or any
committee of the Board of Directors attended by a non-employee director that is
held in person, regardless of whether the non-employee director attends an
in-person meeting by conference telephone or similar communications equipment;


(ii)        a fee of Seven Hundred
Fifty Dollars ($750) for each meeting of the Board of Directors or any
committee of the Board of Directors attended by a non-employee director that is
held by conference telephone or similar communications equipment;


(iii)    for each non-employee director
who is a member of the Audit Committee, the Nominating and Corporate Governance
Committee or the Organization and Compensation Committee of the Board of
Directors, a fee of Five Hundred Dollars ($500) per calendar quarter for
serving as a member;


(iv)      for each non-employee
director who is designated as chairman of the Audit Committee, a fee of One
Thousand Dollars ($1,000) per calendar quarter for serving as chairman;


(v)          for each non-employee
director who is designated as chairman of the Nominating and Corporate
Governance Committee or of the Organization and Compensation Committee, a fee
of Five Hundred Dollars ($500) per calendar quarter for serving as chairman;
and


(vi)      a fee of One Thousand
Dollars ($1,000) per day for special assignments undertaken by a non-employee
director at the request of the Board or any committee of the Board or for attending
a director education program;


provided, that a
fee for attendance at a meeting of a committee of the Board of Directors shall
be paid to a non-employee director regardless of whether such director is a
member of such committee, but, except with respect to the chairman of any of
the Board’s standing committees attending a meeting of any of the other
standing committees, no fee shall be paid to a non-employee director for
attending a meeting of a committee of which he or she is not a member if such
director would as a consequence receive a fee for attending more than two
meetings of the Board of Directors and its committees on any calendar day.


The amount of the Annual Retainer (as defined in the
Sealed Air Corporation 2002 Stock Plan for Non-Employee Directors) to be paid
to Non-Employee Directors of the Corporation who are elected at the 2007 Annual
Meeting of Stockholders is $75,000.


Under the Sealed Air Corporation Deferred Compensation
Plan for Directors, a non-employee director may elect to defer all or part of
his or her Annual Retainer (or Interim Retainer, if the director joins the
Board at a date other than the date of an Annual Meeting) until the director
retires from the Board. None of the other fees mentioned above are eligible to
be deferred.