Exhibit 10.30**EMPLOYMENT AGREEMENT**     THIS AGREEMENT is made effective as of August 15, 2007, by and among Pregis Holding ICorporation, a Delaware corporation (***“Pregis I”***), and its wholly owned subsidiaries, Pregis HoldingII Corporation, a Delaware corporation (***“Pregis II”***), and Pregis Corporation, a Delawarecorporation (***“Pregis”****)*(Pregis I, Pregis II and Pregis, collectively, the ***“Employers”***andindividually an ***“Employer”***), and D. Keith LaVanway (***“Executive”***).**RECITALS**     WHEREAS, Executive desires to be employed by Employers;     WHEREAS, Employers desire to employ Executive and to utilize his management services asindicated herein, and Executive has agreed to provide such management services to Employers; and     WHEREAS, as a condition precedent and a material inducement for Employers to employ and payExecutive, Executive has agreed to execute this Agreement and the Noncompetition Agreement, datedas of the date hereof, between Pregis I and Executive (the ***“Noncompetition Agreement”***), and bebound by the provisions herein and therein.     NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties heretoagree as follows:**PROVISIONS**     1. Term and Duties. Employers hereby agree to employ Executive as Vice President andChief Financial Officer, commencing on his first day of full time employment, but no later thanSeptember 4, 2007 (the ***“Start Date”***) and continuing for a period of three (3) years (the ***“InitialTerm”***) or until terminated in accordance with this Section 1 or Section 4. Unless terminated byeither Executive or Employers by written notice delivered at least thirty (30) days prior to theexpiration of the Initial Term, Executive’s employment shall continue for successive one (1) yearterms (each one (1) year term hereinafter referred to as a ***“Subsequent Term”***and, together with theInitial Term, the ***“Term”***) until terminated by written notice delivered at least thirty (30) daysprior to the expiration of the Subsequent Term. Subject to the provisions of this Agreement,during the Term, Executive shall devote his best efforts and abilities to the performance ofExecutive’s duties on behalf of Employers, and to the promotion of their interests consistent withand subject to the direction and control of the Board of Directors of each Employer (the ***“Board”***).Executive shall devote substantially all of his business time, energies, attention and abilities tothe operation of the business of Employers and shall not be actively involved in any other trade orbusiness or as an employee of any other trade or business.
 

 
     2. Compensation During Term.          (a) Base Compensation. In consideration of the services to be rendered by Executiveduring the Term, Employers shall pay to Executive as base salary $360,000 per year (***“BaseCompensation”***), payable bi-weekly and prorated for any partial employment period.          (b) Bonus. On the Start Date, Employers shall pay Executive a one-time signing bonusof $100,000. Subject to the limitations set forth in this Agreement, commencing with the fiscalyear beginning January 1, 2007, Executive shall be eligible to receive an annual incentive bonus(the ***“Incentive Bonus”***) based upon the achievement of one or more performance goals as determinedby the Board in its sole discretion. The amount of the Incentive Bonus shall be determined in themanner set forth on Schedule A hereto. For the fiscal year ending December 31, 2007, the Employersshall pay the Executive a pro-rated Incentive Bonus based on the portion of the year Executive isemployed by the Employers at such time as bonuses are payable to senior executives generally;provided, however, that the amount of such bonus shall be no less than $150,000.     3. Benefits.          (a) Executive shall be eligible to participate in such benefit programs offered by eachEmployer (other than bonus plans), such as health, dental, life insurance, vision, vacations andpension, as are offered to similarly-situated employees (except in the case of equity-basedincentive plans where awards are subject to Board (or committee thereof) approval) and in each caseon no less favorable terms of benefits than are generally available to the employees of Employers(based on seniority and salary level), subject in each case to the generally applicable terms andconditions of the plan, benefit or program in question.          (b) Employers shall reimburse Executive for all reasonable expenses incurred by him in thecourse of performing his duties under this Agreement which are consistent with Employers’ policiesin effect from time to time with respect to travel, entertainment and other business expenses,subject to Employers’ requirements with respect to reporting, documentation and approval of suchexpenses.          (c) The Employers shall reimburse the Executive for the following reasonable expenses that theExecutive incurs in relocating his primary residence to the Chicago, Illinois metropolitan area:(a) the cost of any temporary housing in the Chicago, Illinois metropolitan area for 6 months, notto exceed $5,000 per month, (b) transportation of belongings; (c) two house-hunting trips; (d)broker and other fees related to sale / acquisition of primary residence; (e) set-up costs oftelephone, cable and broadband; (f) airfare and lodging for family related to such relocation andhouse-hunting
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trips and (g) caretaker costs for primary residence in Richfield Hills, OH for a period of upto twelve months and a cost not to exceed $5,000.     4. Termination. Executive’s employment shall terminate upon the first to occur of thefollowing (each, a ***“Termination Date”***):          (a) The expiration of the Term;          (b) Executive’s death or disability (mentally, physically or emotionally), so that Executivecannot substantially perform his duties hereunder for a period of ninety (90) consecutive days orfor one hundred eighty (180) days during any 365 day period during the Term;          (c) Executive’s voluntary termination of his employment for any reason, upon not less than ten(10) business days’ written notice to Employers; or          (d) Employers’ termination of Executive’s employment with or without Cause (as hereinafterdefined).     5. Termination Payments.          (a) Except as otherwise provided herein, if Executive’s employment is terminated pursuant toSection 1 by thirty (30) days’ prior written notice or pursuant to Section 4, Executive’s BaseCompensation and other benefits, if any, shall terminate on the Termination Date.          (b) Upon termination of Executive’s employment without Cause or by reason of the Employer’sfailure to renew this Agreement after the Initial Term or any Subsequent Term, Employers shall beobligated, in lieu of any other remedies available to Executive, to pay Executive (A) an amountequal to his then current Base Compensation (the ***“Termination Payment”***); (B) (i) if the TerminationDate occurs during the months of January-June of the fiscal year, a pro rata Incentive Bonus forthe fiscal year in which the termination occurs (the ***“Target Pro Rata Incentive Payment”***), based onExecutive’s target Incentive Bonus for such fiscal year; or (ii) if the Termination Date occursduring the months of July-December of the fiscal year, a pro rata Incentive Bonus for the fiscalyear in which the termination occurs (the ***“Actual Pro Rata Incentive Payment”***), based on Employers’actual performance through the end of such fiscal year; and (C) all accrued but unpaid amountspayable to Executive under this Agreement and under any employee benefit plan (the ***“AccruedPayment”***). In addition, in the event of such termination of employment, Executive shall beeligible for continuation of medical benefits on the same terms that would have otherwise appliedto Executive had he remained an active employee until the earlier of (i) twelve (12) monthsfollowing the effectiveness of the Release or (ii) the date Executive becomes eligible for medicalbenefits from a subsequent employer (the ***“Continued Medical Benefits”***). The
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Target Pro Rata Incentive Payment and the Actual Pro Rata Incentive Payment shall, in eachcase, be determined based on the number of days elapsed from the beginning of the fiscal year inwhich the termination occurs through and including the Termination Date. For purposes of clarity,Executive will be eligible to receive only one Termination Payment, one Accrued Payment and eitherone Target Pro Rata Incentive Payment or one Actual Pro Rata Incentive Payment (depending on whenthe Termination Date occurs) from Employers under this Section 5(b). Employers’ obligation to (x)make the Termination Payment and either the Target Pro Rata Incentive Payment or Actual Pro RataIncentive Payment and (y) provide the Continued Medical Benefits shall, in each case, beconditioned upon: (i) Executive’s continued compliance with his obligations under theNoncompetition Agreement and (ii) Executive’s execution, delivery and non-revocation of a valid andenforceable general release of claims in a form reasonably acceptable to Employers (the ***“Release”***).In the event that Executive breaches any of the covenants set forth in the NoncompetitionAgreement, Executive shall (i) immediately return to Employers any portion of the TerminationPayment and either the Target Pro Rata Incentive Payment or Actual Pro Rata Incentive Payment thathave been paid to Executive pursuant to this Section 5(b) and (ii) repay Employers for any costsincurred in connection with providing the Continued Medical Benefits. Subject to this Section 5(b)and Section 5(e), the Termination Payment and the Target Pro Rata Incentive Payment, if applicable,shall be paid in installments on Employers’ regular payroll dates occurring during the 12-monthperiod immediately following the effectiveness of the Release. Subject to Section 5(e), the ActualPro Rata Incentive Payment, if applicable, shall be paid at the time Employers ordinarily payincentive bonuses to its executives with respect to the fiscal year in which the terminationoccurs. Subject to Section 5(e), the Accrued Payment shall be paid within thirty (30) daysfollowing the Termination Date.          (c) In the event of a termination of Executive’s employment pursuant to Section 4(b) as aresult of his death or disability, Employers shall pay to Executive, his estate or legalrepresentative, as the case may be, all amounts accrued to the date of termination and payable toExecutive hereunder and under any other bonus, incentive or other plan.          (d) Any termination of the Term shall not adversely affect or alter Executive’s rights underany employee benefit plan of any Employer in which Executive, at the date of termination, has avested interest, unless otherwise provided in such employee benefit plan or any agreement or otherinstrument attendant thereto.          (e) If Executive is a “specified employee” for purposes of Section 409A of the InternalRevenue Code of 1986, as amended, any payments required to be made pursuant to this Section 5 whichare subject to Section 409A shall not commence until six months from the Termination Date, with thefirst payment to be equal to the aggregate amount that would have been paid to Executive underSection 5 during the first six
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months immediately following the Termination Date had this Section 5(e) not been applicable.     6. Definitions. **“*****Cause*****”**as used herein shall mean Executive’s: (i) commission of anact which constitutes common law fraud, embezzlement (other than occasional, customary and deminimis use of Employers’ property for personal purposes) or a felony, an act of moral turpitude,or of any tortious or unlawful act causing material harm to any Employer’s business, standing orreputation; (ii) gross negligence on the part of Executive in the performance of his dutieshereunder; (iii) breach of his duty of loyalty or care to any Employer; (iv) other misconduct thatis materially detrimental to any Employer; (v) ongoing refusal or failure to perform Executive’sduties or the deliberate and consistent refusal to conform to or follow any reasonable policyadopted by the Board, in each case after receiving written notice describing his noncompliance andbeing given a five (5) business days opportunity to cure (to the extent curable) suchnon-compliance; or (vi) material breach by Executive of this Agreement, the NoncompetitionAgreement or any other agreement with or for the benefit of any Employer to which Executive is aparty or by which Executive is bound, which is not cured (to the extent curable) within five (5)business days following written notice from Employers.     7. Consideration. Executive acknowledges and agrees that the consideration set forthin the recitals to this Agreement and the rights and benefits hereunder are all and singularlyvaluable consideration which are sufficient for any or all of Executive’s covenants set forthherein or in the Noncompetition Agreement.     8. No Prior Agreements. Executive represents and warrants that his performance of allthe terms of this Agreement does not and shall not breach any fiduciary or other duty or anycovenant, agreement or understanding (including, without limitation, any agreement relating to anyproprietary information, knowledge or data acquired in confidence, trust or otherwise) to which heis a party or by the terms of which he may be bound, other than applicable notice periodspreviously disclosed to the Employers. Executive further covenants and agrees not to enter intoany agreement or understanding, either written or oral, in conflict with the provisions of thisAgreement.     9. Miscellaneous.          (a) Notices. All notices, requests, consents and demands by the parties hereto shallbe delivered by hand, by confirmed facsimile transmission, by recognized national overnight courierservice or by deposit in the United States mail, postage prepaid, by registered or certified mail,return receipt requested, addressed to the party to be notified at the addresses set forth below:
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if to Executive:D. Keith LaVanway