EX-4.2




 Exhibit 4.2 
  

 
  

WRKCO INC. 
 as Issuer 

and 
 WESTROCK COMPANY, 

WESTROCK MWV, LLC 
 and 

WESTROCK RKT, LLC 
 as Guarantors

  
  

THIRD SUPPLEMENTAL INDENTURE 

Dated as of June 3, 2020 
 to

 INDENTURE 
 Dated as of
December 3, 2018 
  
  

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

as Trustee 
 3.000% Senior Notes
due 2033 
  
  

 











 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	ARTICLE I	  

		
	 Definitions
	  			
		
	 SECTION 1.1. Definition of Terms
	  	 	2	 
	 SECTION 1.2. Other Definitions
	  	 	5	 
	 SECTION 1.3. Rules of Construction
	  	 	6	 
	
	ARTICLE II	  

		
	 General Terms and Conditions of the Notes
	  			
		
	 SECTION 2.1. Designation and Principal Amount
	  	 	6	 
	 SECTION 2.2. Further Issues
	  	 	6	 
	 SECTION 2.3. Maturity
	  	 	7	 
	 SECTION 2.4. Interest
	  	 	7	 
	 SECTION 2.5. Form of Notes
	  	 	7	 
	 SECTION 2.6. Optional Redemption
	  	 	7	 
	 SECTION 2.7. Mandatory Redemption
	  	 	8	 
	 SECTION 2.8. Appointment of Depositary
	  	 	8	 
	 SECTION 2.9. Change of Control
	  	 	8	 
	 SECTION 2.10. Defeasance
	  	 	10	 
	
	ARTICLE III	  

		
	 Miscellaneous
	  			
		
	 SECTION 3.1. Ratification of Base Indenture
	  	 	10	 
	 SECTION 3.2. Trustee Not Responsible for Recitals, etc.
	  	 	10	 
	 SECTION 3.3. Governing Law; Waiver of Jury Trial
	  	 	10	 
	 SECTION 3.4. Severability
	  	 	11	 
	 SECTION 3.5. Counterpart Originals
	  	 	11	 
	
	 EXHIBIT A Form of 2033 Notes
	  



  
 i 












 THIRD SUPPLEMENTAL INDENTURE, dated as of June 3, 2020 (this
“Supplemental Indenture”), by and among WRKCo Inc., a Delaware corporation (the “Issuer”), WestRock Company, a Delaware corporation (“Parent”), WestRock MWV, LLC, a Delaware limited liability
company (“WRK MWV”), WestRock RKT, LLC, a Georgia limited liability company (“WRK RKT”), and The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws of the United
States of America, as trustee (the “Trustee”). 
 RECITALS 

WHEREAS, the Issuer and the Guarantors previously executed and delivered an indenture, dated as of December 3, 2018, among the Issuer,
the Guarantors and the Trustee (the “Base Indenture” and, as supplemented by this Supplemental Indenture with respect to the Notes (as defined below), the “Indenture”) to provide for the issuance from time to time
of the Issuer’s unsecured debentures, notes or other evidences of indebtedness (the “Securities”), to be issued in one or more series and guaranteed by the Guarantors on the terms set forth therein; 

WHEREAS, pursuant to the terms of the Base Indenture, the Issuer desires to provide for the establishment of a new series of Securities under
the Base Indenture to be known as its “3.000% Senior Notes due 2033” (the “Notes”), the form and substance of such series and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture
and this Supplemental Indenture; 
 WHEREAS, the Board of Directors of the Issuer, has duly authorized the issuance of the Notes, and has
authorized the proper officers of the Issuer to execute any and all appropriate documents necessary or appropriate to effect such issuance; 

WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of Sections 2.1 and 9.1(xi) of the Base Indenture;

 WHEREAS, the Issuer has requested that the Trustee execute and deliver this Supplemental Indenture; 

AND WHEREAS, all acts and things necessary to make this Supplemental Indenture a valid agreement according to its terms, and to make the
Notes, when executed by the Issuer and authenticated and delivered by the Trustee, the valid obligations of the Issuer and the Guarantees the valid obligations of the Guarantors, have been done and performed, and the execution of this Supplemental
Indenture and the issue hereunder of the Notes has been duly authorized in all respects; 











 NOW THEREFORE, in consideration of the premises and the purchase of the Notes by the Holders
thereof, and for the purpose of setting forth, as provided in the Base Indenture, the forms and terms of the Notes, each of the Issuer and the Guarantors covenants and agrees with the Trustee, as follows: 

ARTICLE I 
 Definitions

 SECTION 1.1. Definition of Terms. For all purposes of this Supplemental Indenture, except as otherwise
expressly provided or unless the context otherwise requires, the following terms shall have the following meanings: 

(i)    “Additional Notes” means notes issued pursuant to Section 2.2 hereof and
having identical terms as the Notes, other than as expressly permitted by Section 2.2. 
 (ii)    
“Change of Control” means the occurrence of any one of the following: 
 (1) the direct or indirect sale,
lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of Parent and its Subsidiaries taken as a whole to any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to Parent or one of its Subsidiaries; 

(2) the consummation of any transaction (including without limitation, any merger or consolidation) the result of which is
that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the ultimate “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of Parent, measured by voting power rather than number of shares; 

(3) Parent consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into,
Parent, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of Parent or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares
of the Voting Stock of Parent outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person or any direct or indirect parent company of the surviving
Person immediately after giving effect to such transaction; 
 (4) the first day on which the majority of the members of the
Board of Directors of Parent cease to be Continuing Directors; or 
 (5) the adoption of a plan relating to the liquidation
or dissolution of Parent. 

  
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 Notwithstanding the foregoing, a transaction will not be deemed to involve
a Change of Control if (i) Parent becomes a direct or indirect wholly owned subsidiary of another Person and (ii)(A) the direct or indirect holders of the Voting Stock of such other Person immediately following that transaction are
substantially the same as the holders of the Voting Stock of Parent immediately prior to that transaction or (B) immediately following that transaction no Person (other than a person satisfying the requirements of this sentence) is the
beneficial owner, directly or indirectly of more than 50% of the Voting Stock of such Person. 

(iii)     “Change of Control Triggering Event” means the Notes cease to be rated
Investment Grade by both Rating Agencies on any date during the period (the “Trigger Period”) commencing sixty (60) days prior to the first public announcement of the intention to effect any Change of Control (or pending Change
of Control) and ending sixty (60) days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either Rating Agency has publicly announced that it is
considering a possible ratings change), provided that in making the relevant decision(s) referred to above to downgrade or withdraw such ratings, as applicable, the relevant Rating Agency announces publicly or confirms in writing to the
Issuer that such decisions(s) resulted, in whole or in part, from any event or circumstance comprising part of or arising as a result of, or in respect of, such Change of Control or the first public announcement of the intention to effect such
Change of Control (whether or not such Change of Control has occurred at the time of the downgrade or withdrawal in ratings). If a Rating Agency (including any successor to, or replacement Rating Agency for, a Rating Agency) is not providing a
rating for the Notes at the commencement of any Trigger Period, the Notes will be deemed to have ceased to be rated Investment Grade by such Rating Agency during that Trigger Period. Notwithstanding the foregoing, no Change of Control Triggering
Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. The Trustee is not responsible for monitoring, or charged with knowledge of, the ratings
of the Notes. 
 (iv)    “Comparable Treasury Issue” means the United States Treasury
security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed (assuming for this purpose that the Notes matured on the Par Call Date) that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 

(v)     “Comparable Treasury Price” means, as determined by the Issuer, with respect to
any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and 

  
 3 












 
lowest such Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such
Reference Treasury Dealer Quotations. 
 (vi)    “Continuing Directors” means, as of any
date of determination, any member of the Board of Directors of Parent who: 
 (1) was a member of such Board of Directors on
the date of this Supplemental Indenture; or 
 (2) was nominated for election or elected to such Board of Directors with the
approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

(vii)    “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Issuer. 
 (viii)    “Investment
Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any
successor rating category of S&P) and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Issuer under the circumstances permitting the Issuer to select a replacement agency and in
the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agency.” 

(ix)    “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of
Moody’s Corporation, and its successors. 
 (x)     “Rating Agency” means each of
Moody’s and S&P; provided, that if either of Moody’s or S&P ceases to provide rating services to issuers or investors, the Issuer may appoint a replacement for such Rating Agency. 

(xi)    “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third Business Day preceding such Redemption Date (or, in the case of discharge or defeasance prior to a Redemption Date, on the
third Business Day preceding the date of the deposit of funds with the Trustee). 

(xii)    “Reference Treasury Dealers” means BofA Securities, Inc., Rabo Securities USA,
Inc. or an affiliate thereof which is a Primary Treasury Dealer, SMBC Nikko Securities America, Inc. or an affiliate thereof which is a Primary Treasury Dealer, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities,


  
 4 












 
LLC; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States (a “Primary Treasury Dealer”), the
Issuer shall substitute therefor another Primary Treasury Dealer. 
 (xiii)    “S&P”
means S&P Global Ratings, a division of S&P Global Inc., and its successors. 

(xiv)    “Treasury Rate” means, with respect to any Redemption Date, (1) the yield,
which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal
Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity for the maturity corresponding to the Comparable Treasury Issue (or if no maturity is within three months before or after
the maturity date of the Notes, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line
basis, rounded to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield
to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be
calculated on the third Business Day preceding such Redemption Date (or in the case of discharge or defeasance prior to a Redemption Date, on the third Business Day preceding the date of deposit of funds with the Trustee). 

SECTION 1.2. Other Definitions. 
  

			
	 Term
	  	Defined in Section
	 “Notes Interest Payment Date”
	  	2.4(a)
	 “Notes”
	  	Recitals
	 “Par Call Date”
	  	2.6(a)
	 “Base Indenture”
	  	Recitals
	 “Change of Control Offer”
	  	2.9(a)
	 “Change of Control Payment Date”
	  	2.9(b)
	 “Indenture”
	  	Recitals
	 “Issuer”
	  	Preamble
	 “Notes”
	  	Recitals
	 “Parent”
	  	Preamble
	 “Primary Treasury Dealer”
	  	1.1(xiii)
	 “Supplemental Indenture”
	  	Preamble
	 “Trustee”
	  	Preamble
	 “WRK MWV”
	  	Preamble
	 “WRK RKT”
	  	Preamble


  
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 SECTION 1.3. Rules of Construction. Unless the context otherwise
requires: 
 (i)     each term defined in the Base Indenture has the same meaning when used in this
Supplemental Indenture; 
 (ii)    a term has the meaning assigned to it; 

(iii)    an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 (iv)    “or” is not exclusive; 

(v)     words in the singular include the plural, and in the plural include the singular; 

(vi)    unless the context otherwise requires, any reference to an “Article” or a
“Section” refers to an Article or a Section, as the case may be, of this Supplemental Indenture; and 

(vii)    the words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 
 ARTICLE II

 General Terms and Conditions of the Notes 

SECTION 2.1. Designation and Principal Amount. There are hereby authorized and established a series of Securities under the Base
Indenture, designated as the “3.000% Senior Notes due 2033” which is not limited in aggregate principal amount. The aggregate principal amount of the Notes to be issued as of the date hereof shall be $600,000,000. 

SECTION 2.2. Further Issues. 

(a) So long as no Default or Event of Default shall have occurred and be continuing with respect to the Notes at the time of such issuance, the
Issuer may from time to time, without the consent of the Holders of the Notes, issue Additional Notes. Any such Additional Notes subsequently issued under this Supplemental Indenture will have the same interest rate, maturity date and other terms as
the Notes, other than, as determined by the Issuer, the date of issuance, issue price, initial Interest Payment Date and amount of interest payable on the initial Interest Payment Date applicable thereto. The Notes and any Additional Notes
subsequently issued under this Supplemental Indenture will constitute a single series of Notes under the Indenture; provided that if any such Additional Notes would not be fungible with the outstanding Notes for U.S. federal income tax
purposes, the Issuer shall cause such Additional Notes to be issued with a separate CUSIP number. Unless the context otherwise requires, for all purposes of the Indenture, references to the Notes shall include any Additional Notes actually issued.


  
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 SECTION 2.3. Maturity. The Notes will mature on June 15, 2033. 

SECTION 2.4. Interest. 

(a) Interest on the Notes will be payable in Dollars semi-annually in arrears on June 15 and December 15 of each year, commencing on
December 15, 2020 (each a “Notes Interest Payment Date”). Interest on the Notes shall accrue (computed on the basis of a 360-day year comprised of twelve 30-day months) from the most recent date to which interest has been paid or, if no interest has been paid, from and including June 3, 2020. The Issuer will pay interest on the Notes on the applicable Notes
Interest Payment Date to the Persons who are registered Holders of the Notes at the close of business on June 1 and December 1 (whether or not any such date is a Business Day) immediately preceding the relevant Notes Interest Payment Date.
The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 

(b) In any case where any Interest Payment Date shall not be a Business Day at any place of payment, then (notwithstanding any other provision
of the Indenture or of the Notes) payment of interest need not be made at such place of payment on such date, but may be made on the next succeeding Business Day at such place of payment with the same force and effect as if made on the Interest
Payment Date; and no interest shall accrue on such amount for the period from and after such Interest Payment Date if payment is made on the next succeeding Business Day. 

SECTION 2.5. Form of Notes. 

(a) The Notes shall be substantially in the form of Exhibit A attached hereto, which is incorporated by reference herein. 

(b) On the date hereof, the Issuer shall execute and the Trustee shall authenticate and deliver the Notes in the form of Global Securities
that (i) shall be registered in the name of the Depositary or the nominee of the Depositary and (ii) shall be delivered by the Trustee to the Depositary, pursuant to the Depositary’s instructions, or held by the Trustee as Global
Security Custodian. The Trustee may authenticate the Notes by manual or electronic signature. 
 SECTION 2.6. Optional Redemption.

 (a) At any time before March 15, 2033 (the “Par Call Date”), the Issuer may redeem the Notes in whole or in part at
a Redemption Price (calculated by the Issuer) equal to the greater of: 
 (i)    100% of the principal
amount of the Notes being redeemed; and 

  
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 (ii)    the sum of the present values of the remaining
scheduled payments of principal and interest in respect of the Notes being redeemed that would be due if the Notes being redeemed matured on the Par Call Date (exclusive of interest accrued to the Redemption Date and assuming that the maturity date
for the Notes and the last Interest Payment Date in respect thereof is the Par Call Date) discounted to the Redemption Date on a semi-annual basis (assuming 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points; 
 plus, in each case, accrued
and unpaid interest to, but not including, the Redemption Date. 
 At any time on or after the Par Call Date, the Issuer may redeem the
Notes in whole or in part at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date. 

(b) At least fifteen (15) days but not more than sixty (60) days before a Redemption Date, the Issuer shall give or cause to be
given a notice of redemption to each Holder whose Notes are to be redeemed, in accordance with the provisions of Section 3.4 of the Base Indenture. Notice of any redemption of Notes in connection with a corporate transaction (including, but not
limited to, any equity offering, an incurrence of indebtedness or a change of control) may, at the Issuer’s discretion, be given prior to the completion thereof and any such redemption may, at the Issuer’s discretion, be subject to one or
more conditions precedent, including, but not limited to, completion of the related transaction. If such redemption is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition and such notice may
be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date. If any such condition precedent has not been satisfied, the Issuer will provide written notice to the Trustee prior to the close of
business two (2) Business Days prior to the Redemption Date. Upon receipt of such notice, the notice of redemption shall be rescinded and the redemption of the Notes shall not occur. Upon receipt, the Trustee shall give such notice to each
Holder of the Notes in the same manner in which the notice of redemption was given. Except as set forth in this paragraph (c), the terms of Article III of the Base Indenture shall govern any redemption of the Notes. 

SECTION 2.7. Mandatory Redemption. The Issuer is not required to make any mandatory redemption or sinking fund payments with respect
to the Notes. 
 SECTION 2.8. Appointment of Depositary. DTC will initially be the Depositary with respect to the Notes. 

SECTION 2.9. Change of Control. (a) If a Change of Control Triggering Event with respect to the Notes occurs, unless the Issuer
has exercised its right to redeem the Notes in accordance with Section 2.6, each Holder of 

  
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the Notes will have the right to require the Issuer to purchase all or a portion (equal to $2,000 principal amount and any integral multiples of $1,000 in excess thereof) of such Holder’s
Notes pursuant to the offer described below (a “Change of Control Offer”) at a purchase price equal to 101% of the principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, to, but not including, the date
of repurchase, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant Interest Payment Date. 

(b) The Issuer shall give a notice to each Holder of the Notes, with a copy to the Trustee, within thirty (30) days following the date
upon which any Change of Control Triggering Event occurred, or at its option, prior to any Change of Control but after the public announcement of the pending Change of Control. The notice will govern the terms of the Change of Control Offer and will
describe, among other things, the transaction that constitutes or may constitute the Change of Control Triggering Event and the purchase date. The purchase date will be at least thirty (30) days but no more than sixty (60) days from the
date such notice is given, other than as may be required by law (a “Change of Control Payment Date”). If the notice is given prior to the date of consummation of the Change of Control, the notice will state that the Change of
Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. Holders electing to have their Notes purchased pursuant to a Change of Control Offer will be required to surrender their
Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse completed, to the Paying Agent at the address specified in the notice, or transfer their Notes to the Paying Agent by book-entry transfer pursuant to the
applicable procedures of the Paying Agent, prior to the close of business on the third Business Day prior to the Change of Control Payment Date. 

(c) On the Change of Control Payment Date, the Issuer will, to the extent lawful: (i) accept for payment all properly tendered Notes or
portions of Notes that have not been validly withdrawn; (ii) deposit with the Paying Agent the required payment for all properly tendered Notes or portions of Notes that have not been validly withdrawn; and (iii) deliver or cause to be
delivered to the Trustee the repurchased Notes, accompanied by an Officers’ Certificate stating the aggregate principal amount of repurchased Notes. 

(d) The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other
securities laws and regulations thereunder, to the extent those laws and regulations are applicable, in connection with the repurchase of Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such
securities laws or regulations conflict with this Section 2.9, the Issuer will comply with those securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.9 by virtue of any such conflict.

 (e) The Issuer will not be required to make a Change of Control Offer if a third party makes such an offer in the manner, at the times
and otherwise in compliance with the requirements set forth in this Section 2.9 and such third party purchases all of the Notes properly tendered and not withdrawn under such offer. 

  
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 (f) If 90% or more in principal amount of the Notes then outstanding has been redeemed or
purchased hereunder pursuant to a Change of Control Offer, the Issuer may, at its option, on not less than thirty (30) or more than sixty (60) days’ notice to the Holders of the Notes given within thirty (30) days after the
relevant Change of Control Payment Date, redeem or purchase (or procure the purchase of) the remaining outstanding Notes at 101% of their principal amount plus interest accrued to, but excluding, the date of such redemption or purchase. 

SECTION 2.10. Defeasance. The provisions of Article VIII of the Base Indenture will apply to the Notes. If the Issuer exercises its
covenant defeasance option pursuant to Section 8.1 and 8.3 of the Base Indenture, in addition to the provisions of the Base Indenture set forth in Section 8.3 of the Base Indenture, the Issuer also shall be released from its obligations
under Section 2.9 of this Supplemental Indenture. 
 ARTICLE III 

Miscellaneous 
 SECTION
3.1. Ratification of Base Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and
to the extent herein and therein provided; provided that the provisions of this Supplemental Indenture apply solely with respect to the Notes. 

SECTION 3.2. Trustee Not Responsible for Recitals, etc. The recitals contained herein and in the Notes (except in the certificate of
authentication) shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to and shall not be responsible for the validity or sufficiency of
this Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Issuer of the Notes or the proceeds of the Notes authenticated and delivered by the Trustee in conformity with the provisions of this
Supplemental Indenture or for any money paid to the Issuer or upon the Issuer’s directions under any provision of this Supplemental Indenture. The Trustee shall not be bound to ascertain or inquire as to the performance, observance, or breach
of any covenants, conditions, representations, warranties or agreements on the part of the Issuer, and shall not be responsible for any statement in any document used in connection with the sale of any Notes. Neither the Trustee nor any Paying Agent
shall be responsible for monitoring the Issuer’s rating status, making any request upon any Rating Agency or determining whether any rating event has occurred. All of the provisions contained in the Base Indenture in respect of the rights,
privileges, protections, immunities, powers and duties of the Trustee shall be applicable in respect of this Supplemental Indenture as fully and with like force and effect as though fully set forth in full herein. 

SECTION 3.3. Governing Law; Waiver of Jury Trial. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO


  
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CONSTRUE THE BASE INDENTURE, THIS SUPPLEMENTAL INDENTURE, THE NOTES AND THE GUARANTEES. EACH HOLDER OF A NOTE AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE BASE INDENTURE, THIS SUPPLEMENTAL INDENTURE, THE NOTES, THE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 3.4. Severability. In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 3.5. Counterpart Originals. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall
be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF transmission shall be deemed to be their original
signatures for all purposes. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

					
	WRKCO INC.
		
	By:	 	 /s/ Robert B. McIntosh

		 	Name:	  	Robert B. McIntosh
		 	Title:	  	 Executive Vice President,
 General Counsel
and Secretary

	
	WESTROCK COMPANY
		
	By:	 	 /s/ Robert B. McIntosh

		 	Name:	  	Robert B. McIntosh
		 	Title:	  	 Executive Vice President,
 General Counsel
and Secretary

	
	WESTROCK MWV, LLC
		
	By:	 	 /s/ Robert B. McIntosh

		 	Name:	  	Robert B. McIntosh
		 	Title:	  	 Executive Vice President,
 General Counsel
and Secretary

	
	WESTROCK RKT, LLC
		
	By:	 	 /s/ Robert B. McIntosh

		 	Name:	  	Robert B. McIntosh
		 	Title:	  	 Executive Vice President,
 General Counsel
and Secretary














 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

					
	THE BANK OF NEW YORK MELLON
	TRUST COMPANY, N.A., AS TRUSTEE
		
	By:	 	 /s/ Karen Yu

		 	Name:	 	Karen Yu
		 	Title:	 	Vice President



  
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 EXHIBIT A 

FORM OF NOTE 
 3.000% Senior Notes
due 2033 
 [Insert the Global Security Legend, if applicable] 

WRKCO INC. 
 3.000% SENIOR NOTES
DUE 2033 
  

			
	No.                     	  	CUSIP: 92940P AG9
		  	ISIN: US92940PAG90

 WRKCo Inc. promises to pay to
[                    ] [insert if Global Note: Cede & Co.], or registered assigns, the principal sum of
[                     Dollars ($        )] / [insert if Global Note: the principal amount set forth on the
Schedule of Exchanges of Interests in Global Note attached hereto, which principal amount may from time to time be reduced or increased, as appropriate, in accordance with the within mentioned Indenture and as reflected in the Schedule of Exchanges
of Interests in the Global Note attached hereto, to reflect exchanges, purchases, retirements or redemptions of the Notes represented hereby] on June 15, 2033. 

Interest Payment Dates: June 15 and December 15, beginning December 15, 2020 

Record Dates: June 1 and December 1 

Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on
the reverse hereof by manual or electronic signature, this Note shall not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose. 

  
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 IN WITNESS HEREOF, the Issuer has caused this instrument to be duly executed. 

Dated: 
  

					
	WRKCO INC.
			
	    	 	By:	 	
                     


		 		 	  Name:
  Title:



 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes 
 referred to in the within-mentioned
Indenture: 
 Dated:
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE
		
	By:	 	
                     
                                        


		 	  Authorized Signatory



  
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 (Reverse of Note) 

3.000% Senior Notes due 2033 

WRKCO INC. 
 Capitalized
terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

(1)    Interest. WRKCo Inc., a Delaware corporation (the “Issuer”), promises to pay interest on
the principal amount of this Note at the rate of 3.000% per annum, and at the same rate on any overdue principal or overdue installment of interest to the extent lawful. The Issuer will pay interest in Dollars (except as otherwise provided herein)
semi-annually in arrears on June 15 and December 15 of each year, commencing on December 15, 2020 (each an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from and including June 3, 2020. Interest shall be computed on the basis of a 360-day year comprised of twelve
30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 

(2)    Method of Payment. The Issuer will pay interest on the Notes on the applicable Interest Payment Date to the
Persons who are registered Holders of the Notes at the close of business on June 1 and December 1 preceding the Interest Payment Date. The Notes shall be payable as to principal, premium and interest at the office or agency of the Issuer
maintained for such purpose within or without the City and State of New York; provided that payment by wire transfer of immediately available funds shall be required with respect to principal of, premium, if any, and interest on, all Global
Securities and all other Notes the Holders of which shall have provided written wire transfer instructions with respect to a bank in the continental United States to the Issuer and the Paying Agent. Such payment shall be in such coin or currency of
the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 If any Interest Payment
Date, Stated Maturity date, repurchase date or Redemption Date is not a Business Day, the payment otherwise required to be made on such date will be made on the next Business Day without any additional payment as a result of such delay. 

The amount due and payable at the maturity of this Note shall be payable only upon presentation and surrender of this Note at an office of the
Trustee or the Trustee’s agent appointed for such purposes. 
 (3)    Paying Agent and Registrar. Initially,
The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, shall act as Paying Agent and Registrar. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may
act in any such capacity. 

  
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 (4)    Indenture. The Issuer issued the Notes under an indenture
dated as of December 3, 2018, among the Issuer, the Guarantors and the Trustee (the “Base Indenture”), as supplemented by the Third Supplemental Indenture dated as of June 3, 2020, among the Issuer, the Guarantors and the
Trustee (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). The terms of the Notes include those stated in the Indenture and those made a part of the Indenture by reference to the
Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”). To the extent the provisions of this Note are inconsistent with the provisions of the Indenture, the Indenture shall govern. The
Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. 
 (5)
    Guarantees. The payment of principal and interest on the Notes is unconditionally guaranteed on an unsubordinated basis by the Guarantors as set forth in the Indenture. 

(6)    Optional Redemption. The Notes are redeemable at the option of the Issuer as provided in, and subject to the
terms of, Section 2.6 of the Supplemental Indenture. 
 (7)    Mandatory Redemption. The Issuer shall not be
required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 (8)    Change of Control
Triggering Event. If a Change of Control Triggering Event occurs, each Holder of the Notes will have the right to require the Issuer to purchase all or a portion (equal to $2,000 principal amount and any integral multiples of $1,000 in excess
thereof) of such Holder’s Notes pursuant to the offer described below at a purchase price equal to 101% of the principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase,
subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant Interest Payment Date, as provided in, and subject to the terms of, Section 2.9 of the Supplemental Indenture. 

(9)    Denominations, Transfer, Exchange. The Notes are in registered form without coupons in initial denominations
of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer need not exchange or register the transfer of any Note or portion of a Note
selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of fifteen (15) days before a selection of Notes to be redeemed or
during the period between a record date and the corresponding Interest Payment Date. 
 (10)    Persons Deemed
Owners. The registered Holder of a Note may be treated as its owner for all purposes. 

  
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 (11)    Amendment, Supplement and Waiver. The Indenture or the
Notes may be amended or supplemented, as provided in, and subject to the terms of, Article IX of the Base Indenture. 

(12)    Defaults and Remedies. If an Event of Default with respect to the Notes at the time outstanding (other than
an Event of Default related to certain events of bankruptcy, insolvency or reorganization of the Issuer) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the then
outstanding Notes may declare the principal of all of the outstanding Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Issuer (and to the Trustee if given by the Holders). If an Event of
Default specified in clause (vi) of Section 6.1 of the Base Indenture occurs with respect to the Issuer, the principal of and any accrued interest on the Notes then outstanding shall ipso facto become immediately due and payable without
any declaration or other act on the part of the Trustee or any Holder. 
 Under certain circumstances, the Holders of a majority in
principal amount of the Notes then outstanding, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences, as provided in, and subject to the terms of, Article VI of the Base Indenture. 

(13)    Trustee Dealings with the Issuer. The Trustee, in its individual or any other capacity, may make loans to,
accept deposits from, and perform services for the Issuer, the Guarantors or their respective Affiliates, and may otherwise deal with the Issuer, the Guarantors or their respective Affiliates, as if it were not the Trustee. 

(14)    No Recourse Against Others. No director, officer, employee, stockholder, general or limited partner or
incorporator, past, present or future, of Parent, the Issuer or any of its Subsidiaries, as such or in such capacity, shall have any personal liability for any obligations of the Issuer under the Notes, any Guarantee or the Indenture by reason of
his, her or its status as such director, officer, employee, stockholder, general or limited partner or incorporator. 
 No recourse may, to
the full extent permitted by applicable law, be taken, directly or indirectly, with respect to the obligations of the Issuer or the Guarantors on the Notes or under the Indenture or any related documents, any certificate or other writing delivered
in connection therewith, against (i) the Trustee in its individual capacity, or (ii) any partner, owner, beneficiary, agent, officer, director, employee, agent, successor or assign of the Trustee, each in its individual capacity, or
(iii) any holder of equity in the Trustee. 
 Each Holder of Notes by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for the issuance of the Notes. 
 (15)    Authentication. This
Note shall not be valid until authenticated by the manual or electronic signature of the Trustee or an authenticating agent. 

(16)    Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such
as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

  
 7 












 (17)    CUSIP, ISIN Numbers. Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to the
Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

(18)    Governing Law. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THE
SUPPLEMENTAL INDENTURE, THE NOTES AND THE GUARANTEES. EACH HOLDER OF A NOTE AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THE INDENTURE, THE SUPPLEMENTAL INDENTURE, THE NOTES, THE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

(19)     Notices. The Issuer shall furnish to any Holder upon written request and without charge a copy of the
Indentures. Requests may be made to: 
 If to the Issuer or any Guarantor: 

WestRock Company 
 1000 Abernathy
Road NE 
 Atlanta, Georgia 30328 

Facsimile: (770) 263-3582 

Attention: General Counsel 
 If
to the Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 

500 Ross Street, 12th Floor 

Pittsburgh, PA 15262 

Attention: Corporate Trust Administration 

Facsimile: (412) 234-8377 

  
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 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 

                          
                       

	(Insert	 assignee’s soc. sec. or tax I.D. no.) 



 

                          
                       

                          
                       

                          
                       

	(Print	 or type assignee’s name, address and zip code) 



and irrevocably appoint 
  

                          
                                         
                                         
         
 to transfer this Note on the books of the Issuer. The agent may substitute another to act for
him. 
 Date:                      

 

	
	Your
	Signature:                                    
             
	(Sign exactly as your name appears on the face of this Note)


 Signature
guarantee:                              

(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program) 

  
 9 












 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 2.9 (“Change of Control”) of the
Supplemental Indenture, check the box below: 
 [    ] Section 2.9 

If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 2.9 of the Supplemental Indenture, state
the amount you elect to have purchased: 

$                     

 

							
		 		 		 	Your
	Date:                     	 		 		 	Signature:                                    
                                         
                
		 		 		 	(Sign exactly as your name appears on the Note)
				
		 		 		 	Tax Identification Number:
				
		 		 		 	                    

 Signature
guarantee:                                       
   
 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program) 

  
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 SCHEDULE A 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The original principal amount of this Global Note is [●] DOLLARS AND [●] CENTS ($[●]). The following exchanges of a part of
this Global Security for other 3.000% Senior Notes have been made: 
  

															
	 Date of

Exchange
	  	Amount of
Decrease in
Principal
Amount
of this Global
Security	 	  	Amount of
Increase in
Principal
Amount
of this Global
Security	 	  	Principal
Amount
of this Global
Security
Following Such
Decrease (or
Increase)	 	  	 Signature of

Authorized
 Signatory of

Trustee
 or Global

Security
 Custodian

		  				  				  				  	
		  				  				  				  	
		  				  				  				  	
		  				  				  				  	
		  				  				  				  	


  
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