Document:

Asset Purchase Agreement by and among BWAY Corp and Ball Plastic Container Corp

 Exhibit 10.14 
 Execution Copy 
 ASSET PURCHASE AGREEMENT 

DATED AS OF 
 SEPTEMBER 25, 2009 
 BETWEEN 

BALL PLASTIC CONTAINER CORP. 
 AND 
 BWAY CORPORATION 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	Article I	  
	DEFINITIONS	  
			
	Section 1.1	 	Definitions	  	 	1	  
	Section 1.2	 	Construction	  	 	8	  
	
	Article II	  
	PURCHASE AND SALE OF PURCHASED ASSETS AND ASSUMPTION OF ASSUMED LIABILITIES	  
			
	Section 2.1	 	Purchased Assets and Excluded Assets	  	 	9	  
	Section 2.2	 	Assumed Liabilities and Excluded Liabilities	  	 	13	  
	
	Article III	  
	PURCHASE PRICE AND CLOSING	  
			
	Section 3.1	 	Closing	  	 	14	  
	Section 3.2	 	Purchase Price	  	 	15	  
	Section 3.3	 	Purchase Price Adjustments	  	 	15	  
	Section 3.4	 	Allocation of Purchase Price	  	 	17	  
	Section 3.5	 	Tax Reporting	  	 	17	  
	
	Article IV	  
	REPRESENTATIONS AND WARRANTIES OF THE SELLER	  
			
	Section 4.1	 	Organization	  	 	18	  
	Section 4.2	 	Authorization of Transaction	  	 	18	  
	Section 4.3	 	Noncontravention; Consents	  	 	18	  
	Section 4.4	 	Financial Statements; Accounting Controls	  	 	19	  
	Section 4.5	 	Liabilities	  	 	19	  
	Section 4.6	 	Absence of Certain Changes	  	 	19	  
	Section 4.7	 	Title to Properties; Liens	  	 	21	  
	Section 4.8	 	Equipment	  	 	22	  
	Section 4.9	 	Intellectual Property Assets	  	 	22	  
	Section 4.10	 	Certain Contracts	  	 	23	  
	Section 4.11	 	Orders and Commitments	  	 	24	  
	Section 4.12	 	Taxes	  	 	24	  
	Section 4.13	 	Litigation	  	 	25	  
	Section 4.14	 	Compliance with Law	  	 	25	  
	Section 4.15	 	Environmental Protection	  	 	26	  
	Section 4.16	 	Labor Relations	  	 	26	  
	Section 4.17	 	Employee Benefit Matters	  	 	27	  
	Section 4.18	 	Transactions with Affiliates	  	 	28	  
	Section 4.19	 	Customers and Suppliers	  	 	28	  
	Section 4.20	 	Insurance	  	 	28	  
	Section 4.21	 	LIMITATION ON WARRANTIES	  	 	28	  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	Article V	  
	REPRESENTATIONS AND WARRANTIES OF THE BUYER	  
			
	 Section 5.1
	 	Organization	  	 	29	  
	 Section 5.2
	 	Authorization of Transaction	  	 	29	  
	 Section 5.3
	 	Noncontravention; Consents	  	 	29	  
	 Section 5.4
	 	Litigation	  	 	29	  
	 Section 5.5
	 	Availability of Funds	  	 	30	  
	 Section 5.6
	 	Brokers’ Fees	  	 	30	  
	 Section 5.7
	 	No Further Representations and Warranties	  	 	30	  
	
	Article VI	  
	PRE-CLOSING COVENANTS	  
			
	 Section 6.1
	 	Conduct of the Business	  	 	30	  
	 Section 6.2
	 	Access	  	 	32	  
	 Section 6.3
	 	Bulk Sales Laws	  	 	32	  
	 Section 6.4
	 	General	  	 	32	  
	 Section 6.5
	 	Notices and Consents	  	 	32	  
	 Section 6.6
	 	Notice of Developments	  	 	32	  
	 Section 6.7
	 	Estoppel	  	 	33	  
	
	Article VII	  
	POST-CLOSING COVENANTS	  
			
	 Section 7.1
	 	General	  	 	33	  
	 Section 7.2
	 	Post-Closing Consents; Nonassignable Assets	  	 	33	  
	 Section 7.3
	 	Litigation Support	  	 	34	  
	 Section 7.4
	 	Prorations	  	 	35	  
	 Section 7.5
	 	Tax Matters	  	 	35	  
	 Section 7.6
	 	Records and Documents	  	 	36	  
	 Section 7.7
	 	Use of Excluded Names	  	 	37	  
	 Section 7.8
	 	Non-Solicitation	  	 	37	  
	 Section 7.9
	 	Non-Competition	  	 	38	  
	 Section 7.10
	 	Insurance	  	 	39	  
	 Section 7.11
	 	Physical Inventory	  	 	39	  
	
	Article VIII	  
	EMPLOYEE MATTERS	  
			
	 Section 8.1
	 	Employment	  	 	40	  
	 Section 8.2
	 	Employee Benefit Matters	  	 	40	  
	 Section 8.3
	 	Defined Contribution Plans	  	 	43	  
	 Section 8.4
	 	Defined Benefit Plans	  	 	43	  
	 Section 8.5
	 	Compliance with WARN	  	 	43	  
	 Section 8.6
	 	Workers’ Compensation Claims	  	 	43	  
	 Section 8.7
	 	Incentive Compensation Payments	  	 	44	  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 Section 8.8
	 	Accrued Vacation	  	 	44	  
	
	Article IX	  
	CLOSING CONDITIONS	  
			
	 Section 9.1
	 	Conditions to Obligations of the Buyer	  	 	44	  
	 Section 9.2
	 	Conditions to Obligations of the Seller	  	 	46	  
	
	Article X	  
	REMEDIES	  
			
	 Section 10.1
	 	Survival	  	 	47	  
	 Section 10.2
	 	Indemnification by the Seller	  	 	47	  
	 Section 10.3
	 	Indemnification by the Buyer	  	 	48	  
	 Section 10.4
	 	Procedures for Indemnification	  	 	48	  
	 Section 10.5
	 	Certain Limitations	  	 	49	  
	 Section 10.6
	 	Certain Benefits	  	 	50	  
	 Section 10.7
	 	Treatment of Indemnity Payments	  	 	50	  
	 Section 10.8
	 	Exclusive Remedy	  	 	50	  
	 Section 10.9
	 	Mitigation	  	 	50	  
	
	Article XI	  
	TERMINATION	  
			
	 Section 11.1
	 	Termination of Agreement	  	 	50	  
	 Section 11.2
	 	Effect of Termination	  	 	51	  
	
	Article XII	  
	MISCELLANEOUS	  
			
	 Section 12.1
	 	Notices	  	 	51	  
	 Section 12.2
	 	Expenses; No Offset	  	 	52	  
	 Section 12.3
	 	Seller Disclosure Schedules	  	 	52	  
	 Section 12.4
	 	Assignment; Successors and Assigns	  	 	52	  
	 Section 12.5
	 	Amendment; Waiver; Etc	  	 	53	  
	 Section 12.6
	 	Severability; Specific Performance	  	 	53	  
	 Section 12.7
	 	Counterparts	  	 	53	  
	 Section 12.8
	 	Descriptive Headings	  	 	53	  
	 Section 12.9
	 	No Third-Party Beneficiaries	  	 	53	  
	 Section 12.10
	 	Entire Agreement	  	 	54	  
	 Section 12.11
	 	Exhibits and Schedules	  	 	54	  
	 Section 12.12
	 	Governing Law, etc	  	 	54	  
	 Section 12.13
	 	Public Announcement	  	 	54	  

			
		  	EXHIBITS
		
	Exhibit A	  	Applicable Accounting Principles
	Exhibit B	  	Bill of Sale and Assignment and Assumption Agreement
	Exhibit C	  	Estoppel Certificate
	Exhibit D	  	Assignment of Trademarks
	Exhibit E	  	Assignment of Patents
	Exhibit F	  	Transition Administrative Services Agreement

			
		
		  	REQUIRED SCHEDULES
		
	Schedule 1.1A	  	Permitted Liens
	Schedule 1.1B	  	Retained Employees
	Schedule 1.1C	  	Seller’s Knowledge
	Schedule 2.1(a)(i)	  	Real Property Lease
	Schedule 2.1(a)(iii)	  	Intellectual Property Assets
	Schedule 2.1(a)(vi)	  	Leases and Contracts
	Schedule 2.1(a)(xv)	  	Additional Purchased Assets
	Schedule 2.1(b)(xvi)	  	Excluded Assets
	Schedule 4.3(a)	  	Consents
	Schedule 4.6	  	Certain Changes
	Schedule 4.7	  	Certain Excluded Assets
	Schedule 4.9	  	IP Agreement
	Schedule 4.10(a)	  	Contracts
	Schedule 4.12(e)	  	Taxes and Income Taxes
	Schedule 4.12(f)	  	Tax Returns
	Schedule 4.15(a)	  	Environmental Permits
	Schedule 4.16(a)	  	Labor Relations – Legal Compliance
	Schedule 4.16(b)	  	Labor Relations Unions
	Schedule 4.17(a)	  	Employee Benefit Plans
	Schedule 4.18(a)	  	Affiliated Party Transactions: Material Services and Assets
	Schedule 4.18(b)	  	Affiliated Party Transactions: Personnel Transfers
	Schedule 4.19(a)	  	Customers
	Schedule 4.19(b)	  	Suppliers
	Schedule 6.1	  	Conduct of the Business
	Schedule 8.2(c)(i)	  	Severance Benefits
	Schedule 8.2(c)(ii)	  	Severance Contracts
	Schedule 9.1(e)	  	Discharge of Liens
	Schedule 10.5	  	Buyer’s Knowledge

 ASSET PURCHASE AGREEMENT 

This ASSET PURCHASE AGREEMENT (this “Agreement”), dated as of September 25, 2009 (“Effective
Date”), is made between Ball Plastic Container Corp., a Colorado corporation (the “Seller”), and BWAY Corporation, a Delaware corporation (the “Buyer”). Capitalized terms used herein shall have the meanings
assigned to such terms in the text of this Agreement or in Section 1.1. 
 WHEREAS, the Seller is engaged in, among
other things, the business of designing, developing, manufacturing, selling and distributing one to seven gallon rigid injection molded open head and screw-top pails, drums and similar containers at the Newnan Facility (collectively, the
“Business”); 
 WHEREAS, the Seller also conducts businesses and operations, not included in the Business, at
numerous locations in the United States, which businesses and operations are being retained by the Seller and are not being transferred to, or acquired by, the Buyer (the “Retained Businesses”); and 

WHEREAS, the Seller has agreed to sell and the Buyer has agreed to purchase the Business, including the assumption by the Buyer of the
lease in respect of the Newnan Facility, and certain of the other assets and undertakings of the Business, and will assume certain of the liabilities of the Business and the Newnan Facility as specified herein, all on the terms and subject to the
conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained
herein, and for other good and valuable consideration, the value, receipt and sufficiency of which are acknowledged, the Parties hereby agree as follows: 
 Article I 
 DEFINITIONS 

Section 1.1 Definitions. For purposes of this Agreement, the following terms have the respective meanings set forth below:

 “Accounts Receivable” has the meaning set forth in Section 2.1(a)(viii). 

“Action” means any claim, action, charge, suit, arbitration, inquiry, cease and desist letter, administrative or
regulatory proceeding or investigation or subpoena of any nature, civil, criminal, regulatory or otherwise, in law or in equity. 
 “Affiliate” and “control” have the respective meanings set forth in Rule 12b-2 of the regulations promulgated under the Securities Exchange Act of 1934, as amended. 

“Affiliated Party Transaction” has the meaning set forth in Section 4.18(b). 

“Agreement” has the meaning set forth in the Preamble. 

“Allocation Statement” has the meaning set forth in Section 3.4. 

  
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 “Ancillary Documents” means the Bill of Sale and Assignment and Assumption
Agreement, the Assignment of Trademarks, the Assignment of Patents, the Assignment of Lease, the Transition Administrative Services Agreement and the Confidentiality Agreement. 

“Applicable Accounting Principles” has the meaning set forth in Section 3.3(a). 

“Apportioned Obligations” means (i) any Tax (including any additional Tax determined subsequent to the Closing
Date) relating to any Purchased Asset, and (ii) all rents, royalties, utilities and other periodic charges with respect to the Newnan Facility, in each case that are due or become due without acceleration for any Straddle Period. 

“Assignment of Patents” has the meaning set forth in Section 9.1(g)(iv). 

“Assignment of Trademarks” has the meaning set forth in Section 9.1(g)(iv). 

“Assumed Liabilities” has the meaning set forth in Section 2.2(a). 

“Basket” has the meaning set forth in Section 10.2(b). 

“Bill of Sale and Assignment and Assumption Agreement” has the meaning set forth in Section 9.1(g)(i).

 “Business” has the meaning set forth in the Recitals. 

“Business Employees” means the individuals (other than the Retained Employees) at the Newnan Facility who are employed
by the Seller exclusively in connection with the Business as of the Closing Date and whose terms and conditions of employment are not subject to the Newnan Union Contract. 
 “Business Information” has the meaning set forth in Section 2.1(a)(iv). 
 “Buyer” has the meaning set forth in the Preamble. 

“Buyer Claims” has the meaning set forth in Section 10.2(a). 

“Buyer Indemnified Party” has the meaning set forth in Section 10.2(a). 

“Buyer’s Knowledge” means the actual knowledge of the individuals listed on Schedule 10.5. 

“Cap” has the meaning set forth in Section 10.2(b).  

“Claims” has the meaning set forth in Section10.3(a). 

“Closing” has the meaning set forth in Section 3.1. 

“Closing Balance Sheet” has the meaning set forth in Section 3.3(a). 

“Closing Date” has the meaning set forth in Section 3.1. 

  
 2 

 “Closing Date Net Working Capital Amount” has the meaning set forth in
Section 3.3(a). 
 “Closing Statement” has the meaning set forth in Section 3.3(a).

 “Code” means the Internal Revenue Code of 1986, as amended (together with all rules and regulations
promulgated thereunder). 
 “Confidentiality Agreement” means that certain Confidentiality Agreement dated
May 20, 2009, between the Buyer and the Seller. 
 “Contract” means any contract or any other legally
binding agreement, commitment or undertaking other than any Employee Benefit Plan. 
 “Copyrights” means all
unregistered copyrights, copyright registrations and applications for copyright registration (excluding in each case copyrights, registrations and applications for computer software and databases). 

“Defined Benefit Plan” has the meaning set forth for such term in ERISA Section 3(35). 

“Defined Contribution Plan” means a defined contribution plan intended to be qualified under Section 401(a) of the
Code. 
 “Dollars” and the sign “$” each means lawful money of the United States of America.

 “Effective Date” has the meaning set forth in the Preamble. 

“Employee Benefit Plan” has the meaning set forth in Section 4.17(a). 

“Employees” means the employees of the Seller as of the Closing Date (including the Retained Employees) and the former
employees of the Seller (whether or not such employees were engaged in the Business prior to their termination of employment), in each case, excluding the Business Employees and the Union Employees. 

“Environmental Laws” means any Law relating to Hazardous Materials and the protection of the environment or human health
as it relates to exposure to Hazardous Materials. 
 “Environmental Permits” means licenses, permits,
approvals, applications and authorizations from any Governmental Entity, whether federal, state or local, domestic or foreign, which are required under or issued under Environmental Laws. 

“Equipment” has the meaning set forth in Section 2.1(a)(ii). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended (together with all rules and regulations
promulgated thereunder). 
 “ERISA Affiliate” has the meaning set forth in Section 4.17(a).

 “Excluded Assets” has the meaning set forth in Section 2.1(b). 

  
 3 

 “Excluded Liabilities” has the meaning set forth in
Section 2.2(b). 
 “Excluded Names” has the meaning set forth in Section 2.1(b)(viii).

 “Final Net Working Capital Amount” has the meaning set forth in Section 3.3(d). 

“Final Statement” has the meaning set forth in Section 3.3(c). 

“Financial Statements” has the meaning set forth in Section 4.4(a). 

“GAAP” means United States generally accepted accounting principles. 

“Governmental Entity” means any nation or government, any state or other political subdivision thereof, and any other
foreign or domestic entity, authority or body exercising executive, legislative, judicial, regulatory or administrative authority or functions of or pertaining to government, including any government authority, agency, department, corporation,
board, commission, court, self-regulatory authority, tribunal or instrumentality of any nation or government or any political subdivision of any of the foregoing. 
 “Hazardous Material” means all substances or materials regulated as hazardous, toxic, explosive, dangerous, flammable or radioactive or words of similar meaning or effect or as a
pollutant or contaminant under any Environmental Law, including (i) petroleum, petroleum products and by-products, asbestos and asbestos-containing materials, urea formaldehyde foam insulation, medical or infectious wastes, polychlorinated
biphenyls, radon gas, radioactive substances, chlorofluorocarbons and all other ozone-depleting substances and (ii) in the United States, all substances defined as Hazardous Substances, Oils, Pollutants or Contaminants in the National Oil and
Hazardous Substances Pollution Contingency Plan, 40 C.F.R. Section 300.5. 
 “Income Tax” or
“Income Taxes” means a tax or taxes of any kind or nature, or however denominated, including any federal, provincial, state, local or foreign tax imposed on or measured by the net income, net profits, branch profits or net worth
(including any franchise tax imposed in lieu of the foregoing). 
 “Indemnified Party” has the meaning set
forth in Section 10.4(a). 
 “Indemnifying Party” has the meaning set forth in
Section 10.4(a). 
 “Intellectual Property Assets” has the meaning set forth in
Section 2.1(a)(iii). 
 “Inventory” has the meaning set forth in Section 2.1(a)(vii).

 “IP Agreements” has the meaning set forth in Section 2.1(a)(iii). 

“IRS” means the United States Internal Revenue Service. 

“Law” means any applicable United States or non-U.S. federal, provincial, state or local statute, common law, civil law,
code, rule, regulation, ordinance, permit, order, writ, injunction, judgment or decree of any Governmental Entity. 

  
 4 

 “Lease Assignment and Assumption” has the meaning set forth in
Section 9.1(g)(i). 
 “Lien” means, with respect to any property or asset, any mortgage, pledge,
security interest, charge, claim, encumbrance or other lien in respect of such property or asset. 
 “Losses”
means any losses, damages, liabilities, penalties, fines, costs and expenses (including reasonable and documented attorneys’ and accountants’ fees and disbursements incurred in the investigation or defense of the same), whether or not
involving a Third Party Claim. 
 “Net Working Capital Amount” means, as of any date and time of determination,
the amount equal to (i) the current assets of the Business minus (ii) the current liabilities of the Business, calculated in accordance with the Applicable Accounting Principles. 

“Neutral Auditor” has the meaning set forth in Section 3.3(c). 

“Newnan Facility” has the meaning set forth in Section 2.1(a)(i). 

“Newnan Union Contract” means the collective bargaining agreement dated September 16, 2007 between Ball Plastic
Container Corp. and UNITE HERE, on behalf of Local 358 and all amendments thereto. 
 “Objection Notice” has
the meaning set forth in Section 3.3(b). 
 “Parties” means the Seller and the Buyer together, and
“Party” means the Seller, on the one hand, or the Buyer, on the other hand, as the case may be. 

“Patents” means all patents, patent applications and related patent rights, including all reexamination certificates,
reissues, divisionals, continuations and continuations-in-part and extensions, all improvements thereon, as well as unpatented inventions and the contents of any and all invention disclosures and open invention dockets for which no patent
application has been filed. 
 “Permits” means all licenses, franchises, permits, consents, certificates,
approvals, applications, product registrations and authorizations from any applicable Governmental Entity, whether federal, state or local, domestic or foreign, other than Environmental Permits. 

“Permitted Liens” means any (i) mechanics’, materialmen’s and similar Liens imposed by Law with respect
to amounts not yet due and payable or the validity of which is being contested in good faith, (ii) Liens for Taxes not yet due and payable or the validity of which is being contested in good faith, (iii) Liens incurred in the ordinary
course of business in connection with workers’ compensation or similar Laws or to secure the performance of statutory obligations, (iv) easements, rights-of-way, restrictive covenants, servitudes and other similar matters of record or
similar restrictions affecting real property which do not materially impair the value or materially interfere with any present use of such property or asset, (v) Liens set forth on Schedule 1.1A that secure leased equipment and other
leased tangible personal property, and (vi) statutory Liens arising in favor of the lessor arising in connection with the Newnan Facility. 

  
 5 

 “Person” means an individual, partnership, corporation, limited liability
company, association, joint stock company, trust, joint venture, or other entity or organization, including Governmental Entities. 
 “Prohibited Business” has the meaning set forth in Section 7.9(a). 
 “Purchase Price” has the meaning set forth in Section 3.2. 
 “Purchased Assets” has the meaning set forth in Section 2.1(a). 
 “Purchased Contracts” has the meaning set forth in Section 2.1(a)(vi). 
 “Real Property Lease” has the meaning set forth in Section 2.1(a)(i). 
 “Reference Balance Sheet” means the unaudited balance sheet of the Business at and for the period ended August 30, 2009 and included in the Financial Statements. 

“Release” means any actual or threatened spilling, leaking, pumping, pouring, emitting, emptying, discharging,
injecting, escaping, leaching, dumping or disposing into or through the environment or any natural or man-made structure. 

“Resolution Period” has the meaning set forth in Section 3.3(b). 

“Retained Businesses” has the meaning set forth in the Recitals. 

“Retained Employees” means those individuals set forth on Schedule 1.1B. 

“Review Period” has the meaning set forth in Section 3.3(b). 

“Seller” has the meaning set forth in the Preamble. 

“Seller Claims” has the meaning set forth in Section 10.3(a). 

“Seller Disclosure Schedules” means the schedules delivered by the Seller to the Buyer concurrently herewith and
identified by the Seller as the Seller Disclosure Schedules, as updated and supplemented in accordance herewith. 

“Seller IC Plans” has the meaning set forth in Section 8.7. 

“Seller Indemnified Party” has the meaning set forth in Section 10.3(a). 

“Seller’s Knowledge” means the actual knowledge of the individuals listed on Schedule 1.1C. 

“Specified Consent” has the meaning set forth in Section 7.2(b). 

“Straddle Period” means (i) in respect of Taxes, any Tax year or period beginning on or before the Closing Date and
ending after the Closing Date and (ii) in respect of Apportioned 

  
 6 

 
Obligations other than Taxes, a period beginning on or before the Closing Date and ending after the Closing Date. 
 “Target Net Working Capital Amount” has the meaning set forth in Section 3.3(d). 
 “Tax” or “Taxes” means a tax or taxes of any kind or nature, or however denominated, including any federal, provincial, state, local or foreign sales, use, ad valorem,
conveyance, goods and services, customs duties, stamp, documentary, recording, transfer, registration, excise, premium, real property, personal property, intangibles, environmental, rent, estimated, social security, severance, unemployment,
disability, payroll, license, occupancy, occupational, worker’s compensation, health care, value added gross receipts, alternative, add-on minimum, employee tax or other withholding, and including any interest, penalties or additions to tax or
additional amounts in respect of the foregoing whether disputed or not, including any transferee or secondary liability for a tax and any liability assumed by agreement, or being included or required to be included on any Tax Returns relating
thereto; provided, however, that “Tax” and “Taxes” will not include any Income Taxes. 

“Tax Returns” means, with respect to any Tax, any return, report, information return or other document (including any
related or supporting information and any amendment to any of the foregoing) for such Tax, and any return, report, statement, declaration, claim for refund or document filed or required to be filed under the Law for such Tax. 

“Income Tax Returns” means, with respect to any Income Tax, any return, report, information return, or other document
(including any related or supporting information and any amendment to any of the foregoing) for such Income Tax, and any return, report, statement, declaration, claim for refund or document filed or required to be filed under the Law for such Income
Tax. 
 “Technology” means all technical information and know-how, confidential or non-confidential,
inventions, and trade secrets, including all information and know-how related to increasing manufacturing efficiency and profitability, and all patterns, plans, designs, research data, formulae, manufacturing, sales, service or other processes,
operating manuals, drawings, equipment and parts lists (with any related descriptions and instructions), manuals, data, records, procedures, packaging instructions, product specifications, analytical methods, sources and specifications for raw
materials, manufacturing and quality control procedures, toxicity and health and safety information, environmental compliance and regulatory information, research and development records and reports and other documents relating to the foregoing, in
each case to the extent the foregoing relates primarily to the Business, but does not include any Patents, Copyrights, Trademarks and/or computer software. 
 “Third Party Claim” has the meaning set forth in Section 10.4(a). 
 “Tooling” has the meaning set forth in Section 7.7(b). 
 “Trademarks” means all common law and registered trademarks, service marks, logos, trade dress and trade names, the goodwill of the business symbolized thereby, other business,

  
 7 

 product or service identifiers and all registrations and applications for registration of the foregoing.

 “Transfer Tax” means any amount that is required to be paid in respect of any transfer, sales, use,
recording or similar taxes (including any registration and/or stamp taxes, levies and duties) that may be imposed by reason of the sale, assignment, transfer or delivery of the Purchased Assets. 

“Transferred Business Employees” has the meaning set forth in Section 8.1(a). 

“Transferred Employees” has the meaning set forth in Section 8.1(a). 

“Transferred Union Employees” has the meaning set forth in Section 8.1(a). 

“Transition Administrative Services Agreement” has the meaning set forth in Section 9.1(g)(v). 

“Treasury Regulation” means the final or temporary regulations promulgated under the Code, in effect from time to time.

 “Union Employees” means the individuals at the Newnan Facility whose terms and conditions of employment are
governed by the Newnan Union Contract. 
 “United States” or “U.S.” means the United States of
America. 
 “WC Threshold Amount” has the meaning set forth in Section 3.3(e). 

Section 1.2 Construction. For purposes of this Agreement: 

(a) Whenever the context requires, the singular number will include the plural, and vice versa, the masculine gender will include the
feminine and neuter genders, the feminine gender will include the masculine and neuter genders, and the neuter gender will include masculine and feminine genders. 
 (b) The words “include” and “including,” and variations thereof, will not be deemed to be terms of limitation, but rather will be deemed to be followed by the words “without
limitation.” 
 (c) Except as otherwise indicated, all references in this Agreement to “Sections,”
“Schedules” and “Exhibits” are intended to refer to Sections, Schedules and Exhibits to this Agreement. 
 (d) The terms “hereof,” “hereunder,” “herein” and words of similar import will refer to this Agreement as a whole and not to any particular provision of this Agreement.

 (e) Each Party hereto has participated in the drafting of this Agreement, which each Party acknowledges is the result of
extensive negotiations between the Parties, and consequently, 

  
 8 

 
this Agreement will be interpreted without reference to any rule or precept of Law to the effect that any ambiguity in a document be construed against the drafter. 

Article II 

PURCHASE AND SALE OF PURCHASED ASSETS 
 AND ASSUMPTION OF ASSUMED LIABILITIES 
 Section 2.1 Purchased
Assets and Excluded Assets. 
 (a) At and subject to the Closing, the Seller shall sell, assign, transfer and convey (or
cause to be sold, assigned, transferred or conveyed) to the Buyer, and the Buyer shall purchase from the Seller, as a going concern, the Purchased Assets and the Business, free and clear of all Liens, other than Permitted Liens. As used herein, the
“Purchased Assets” means all right, title and interest of the Seller in, to and under all of the assets, personal and mixed, tangible and intangible, owned or held by the Seller that are used or held for use exclusively in the
conduct or operation of the Business, as each shall exist on the Closing Date (in all cases other than to the extent included in the Excluded Assets), including all of such right, title and interest in, to and under the following: 

(i) Real Property: the leasehold interest of the Seller as lessee under the real property lease described in
Schedule 2.1(a)(i) (the “Real Property Lease”), and the premises, together with all buildings (or leased portion thereof), fixtures and improvements, covered thereby (the “Newnan Facility”). 

(ii) Personal Property Other Than Inventory: the furniture, fixtures, machinery, equipment, equipment
subassemblies, furnishings, vehicles, tools, dies, jigs, stores, packaging materials, pallets, wooden pallets, office and other office supplies and other tangible personal property that is (i) located at the Newnan Facility, or
(ii) otherwise used or held for use exclusively in the Business, whether or not such property is reflected as an asset on the books and records of the Seller, but excluding (A) any plastic pallets stamped with the name “Ball” or
any derivative thereof, office and other supplies to the extent included in the Excluded Assets and (B) Inventory (collectively, the “Equipment”). 

(iii) Intellectual Property Assets: (A) the Patents, Trademarks, and Copyrights listed or described in
Schedule 2.1(a)(iii), (B) subject to Section 2.1(c), all Technology that relate exclusively to the Business (including, without limitation, the fourth generation screw-top product in development) (C) all agreements under
which the Seller has granted, or has been granted, the right to use any Technology or any Patents, Trademarks or Copyrights, in each case, where such agreements relate exclusively to the conduct or operation of the Business and (without limiting
Section 7.2) are legally assignable by the Seller (the “IP Agreements”), and (D) rights to sue for current and past infringement of any of the rights or agreements referred to in this Section 2.1(a)(iii)
(the Purchased Assets described in this Section 2.1(a)(iii), collectively, the “Intellectual Property Assets”). 

  
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 (iv) Business Information: the books and records (A) customarily
located at the Newnan Facility (other than those (1) exclusively related to Excluded Assets or (2) exclusively related to an Excluded Liability and not material to the post-Closing conduct of the Business) or (B) customarily located
at locations other than the Newnan Facility, in each case, which are used exclusively in the Business, including applicable files, telephone directories, invoices, credit and sales records, personnel records (subject to applicable Law), customer
lists (including addresses and phone numbers), supplier lists, manuals (including policy manuals), drawings, accounting books and records, detailed fixed-asset ledgers and records, sales literature, current price lists and discounts, promotional
signs and literature, marketing and sales programs, manufacturing and quality control records and procedures and compliance policies and procedures and computer disks and tapes with the foregoing books and records stored on them (collectively,
“Business Information”); provided that the Seller may retain and provide the Buyer with copies of any Business Information that the Seller deems reasonably necessary for the Seller’s ongoing business or for Tax or Income Tax
purposes or for performance of obligations or liabilities retained by the Seller hereunder. 
 (v)
Governmental Permits: without limiting Section 7.2, the Permits and the Environmental Permits issued by a Governmental Entity exclusively with respect to the conduct or operation of the Business to the extent transferable.

 (vi) Leases and Contracts: the rights of the Seller in, to and under all contracts, arrangements,
licenses, leases, sales orders, purchase orders, quotations, bids, commitments and other agreements, whether written or oral, to the extent related exclusively to the conduct or operation of the Business, including, the contracts listed in
Schedule 2.1(a)(vi), the Real Property Lease, the IP Agreements and the Newnan Union Contract (the “Purchased Contracts”). 
 (vii) Inventory: the inventories of raw materials, work-in-process, finished products, spare parts and replacement parts located at the Newnan Facility and related exclusively to the conduct or
operation of the Business or located at a contract manufacturer or facility of another third party and held exclusively for the use of the Business (the “Inventory”). 

(viii) Accounts Receivable: all notes and accounts receivable arising from the sale of goods by the Business to
third parties who are not Affiliates of the Seller (the “Accounts Receivable”), to the extent exclusively related to the Business or the Purchased Assets. 

(ix) Computer Software: subject to Section 2.1(c) and without limiting Section 7.2, to the
extent assignable, the rights of the Seller to all computer software used or held for use exclusively in connection with the conduct or operation of the Business, including all documentation and source codes with respect to such software (to the
extent the Seller possesses such documents or source codes) and, to the extent they relate exclusively to the conduct or operation of the Business and, without limiting Section 7.2, they are legally assignable or transferable by the
Seller, licenses and leases of such software. 

  
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 (x) Restrictions on Competition and Confidentiality: all rights of
the Seller to enforce restrictions on competition and obligations regarding confidentiality or limited use of information imposed on third parties and present and former officers, executives and employees of the Seller, to the extent such
restrictions and obligations relate exclusively to the Business and, without limiting Section 7.2, are assignable by Seller. 
 (xi) Warranties, etc: all warranties, representations, indemnities, guarantees and similar rights in favor of the Seller to the extent related exclusively to any Purchased Assets. 

(xii) Goodwill and Associated Assets: any and all goodwill, customer lists, going concern value and similar assets,
to the extent related exclusively to, or used exclusively in, the conduct or operation of the Business. 
 (xiii)
Claims: all causes of actions, lawsuits, judgments, claims and demands of any nature available from and after the Closing with respect to any other Purchased Asset, whether arising by counterclaim or otherwise. 

(xiv) Credits and Prepayments: any credits, prepaid expenses, deferred charges, advance payments, security
deposits, prepaid items (including rents and licenses), deposits and claims for refunds or reimbursements, in each case, to the extent exclusively related to one of the other Purchased Assets and/or Assumed Liabilities. 

(xv) Additional Purchased Assets: any other assets, rights and properties set forth on Schedule 2.1(a)(xv).

 (b) Notwithstanding anything herein to the contrary (including Section 2.1(a)), the Seller and its Affiliates
shall retain all of their respective rights, title and interests in and to, and shall not, and shall not be deemed to, sell, transfer, assign, convey or deliver to the Buyer any of the following, as they exist on the Closing Date (collectively, the
“Excluded Assets”): 
 (i) any cash or cash equivalents, including any marketable securities or
certificates of deposit, or any collected funds or items in the process of collection at the financial institutions of the Seller or any of its Affiliates through and including the Closing Date; 

(ii) (A) any rights of the Seller or any of its Affiliates with respect to any Income Tax refunds, credits, rebates
or abatements, or to any Tax refunds, credits or abatements with respect to assets that are not Purchased Assets; (B) any rights to credits, refunds, rebates or abatements of Taxes with respect to the Purchased Assets relating to periods (or
portions thereof) ending on or prior to the Closing Date; and (C) any Tax Returns or Tax records of the Seller or any of its Affiliates that relate to the Excluded Assets; 

(iii) any credits, prepaid expenses, deferred charges, advance payments, security deposits, prepaid items, deposits and
claims for refunds or reimbursements, in each case, to the extent relating to the Excluded Assets and/or Excluded Liabilities; 

  
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 (iv) any rebates payable by suppliers to the Business as a result of
purchases made by the Business prior to the Closing; 
 (v) subject to Section 7.10, any property,
casualty or other insurance policy or related insurance services contract held by the Seller or any of its Affiliates, and any rights of the Seller or any of its Affiliates under any such policy or contract; 

(vi) any Employee Benefit Plans and underlying assets or any rights in the Employee Benefit Plans, except as specifically
provided in Article VIII; 
 (vii) any rights of the Seller or the Seller Indemnified Parties under this
Agreement, any Ancillary Document or any other agreement between the Seller and the Buyer; 
 (viii) any rights
in, relating to, or for use or exploitation of, any trademark, service mark, brand name, certification mark, trade name, corporate name, domain name that includes the terms “Ball”, “Ball Plastics”, “Ball Aerosol”, or
“U.S. Can” or any derivative thereof (the “Excluded Names”); 
 (ix) the Retained
Businesses and any assets, rights, businesses and properties of the Seller or any of its Affiliates used in the conduct or operation of the Retained Businesses; 
 (x) the corporate charter, qualification to conduct business as a foreign corporation, arrangements with registered agents relating to foreign qualifications, taxpayer and other identification numbers,
corporate seal, minute books, stock transfer books, blank stock certificates, books and records relating to federal, provincial, state, local or foreign income, gross receipts, franchise, estimated alternative minimum or add-on taxes, and any other
documents, in each case, to the extent relating to the governance, organization, maintenance and existence of the Seller as a corporation; 
 (xi) any licenses with respect to commercially available or “off-the-shelf” computer software; 
 (xii) any notes, accounts receivable, deposits or prepaid expenses other than those described in Section 2.1(a)(viii); 

(xiii) any intellectual property rights other than those included in the Intellectual Property Assets; 

(xiv) any computer software (and any licenses or leases of computer software) other than as described in
Section 2.1(a)(ix); 
 (xv) the right to enforce any restrictions on competition and/or obligations
regarding confidentiality or limited use of information imposed on third parties and present and former officers, executives and employees, to the extent such restrictions and obligations relate to the Excluded Assets, Excluded Liabilities or
Retained Businesses; and 

  
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 (xvi) any rights of the Seller and any of its Affiliates under
Section 2.1(c) and any other assets, rights and properties set forth on Schedule 2.1(b)(xvi). 
 (c) With
respect to licenses for the operating systems and software installed on the desktop or laptop computers contained in the Purchased Assets, (but, for the avoidance of doubt, not in any manufacturing equipment or machinery) the Seller agrees, solely
for the convenience of the Buyer, not to remove such operating systems or software from such desktop or laptop computers; provided, however, that the Seller makes no representation or warranty with respect to the transfer or assignment of such
operating systems or software and assumes no responsibility (financial or otherwise) for providing any necessary licenses to the Buyer for the transfer of such operating systems and software. 

Section 2.2 Assumed Liabilities and Excluded Liabilities. 

(a) Assumed Liabilities. Subject to the provisions of clause (b) of this Section 2.2, the Buyer shall, as of and
subject to the Closing, assume and undertake to pay, satisfy or discharge all of the following liabilities or obligations (collectively, the “Assumed Liabilities”): 

(i) all liabilities and obligations that constitute current liabilities of the Business, to the extent included in the
calculation of Closing Working Capital; 
 (ii) all liabilities and obligations accruing after the Closing under
the Purchased Contracts (which for the avoidance of doubt, shall not include liabilities or obligations arising prior to or after the Closing as a result of pre-Closing breaches or defaults thereunder); 

(iii) all liabilities and obligations in respect of the Transferred Employees to the extent specifically assumed by the
Buyer pursuant to Article VIII; 
 (iv) all liabilities and obligations to third parties arising from
services (including improperly performed repair services) provided or products sold by the Buyer after the Closing in connection with the Business, including all product return, rebate, credit and warranty obligations, and all product liabilities,
but excluding any such liabilities and obligations arising from or relating to products that are included in Inventory and are sold by Buyer within 60 days of the Closing Date; 

(v) all liabilities and obligations to the extent arising from the post-Closing ownership of the Purchased Assets or the
conduct or operation of the Business after the Closing, including liabilities and obligations arising out of or relating to the generation, use, handling, treatment, storage, transportation, disposal or Release of any Hazardous Materials in
connection with the Business following the Closing, including any such liabilities or obligations to the extent arising under, or resulting from violations of, Environmental Laws; and 

(vi) subject to Sections 7.4 and 7.5 hereof, all liabilities and obligations with respect to Taxes arising
in connection with the Business or the Purchased Assets for any taxable period or ratable portion thereof beginning after the Closing Date. 

  
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 (b) Excluded Liabilities. The Buyer expressly does not, and shall not, assume or be
deemed to assume, any liabilities, obligations or commitments of the Seller or any of its Affiliates of any nature whatsoever, whether known or unknown, contingent or otherwise (collectively, the “Excluded Liabilities”) that are not
expressly set forth in clause (a) of this Section 2.2. Without limiting the generality of the foregoing, the Buyer shall not assume or be liable for, and the Assumed Liabilities shall in no event include, any liability, obligation
or responsibility of the Seller or any of its Affiliates arising out of or relating to: 
 (i) (A) any
liability of the Seller or any of its Affiliates (1) with respect to any Income Tax or (2) any Tax with respect to assets that are not Purchased Assets or (B) any liability for any Tax with respect to the Business or the Purchased
Assets relating to periods (or portions thereof) ending on or prior to the Closing Date; 
 (ii) any liabilities
related to obligations under any Employee Benefit Plan (whether pursuant to the terms of such Employee Benefit Plan or ERISA), including, but not limited to, the Seller’s Defined Benefit Plan and the Seller’s Defined Contribution Plan;

 (iii) any liabilities and obligations relating to the employment, compensation, employee benefits or
termination of employment of any of the (i) Business Employees and Union Employees who do not become Transferred Employees and (ii) Employees; 
 (iv) any liabilities or obligations relating to or arising from the acquisition, ownership or use of any Excluded Asset; 

(v) the liabilities and obligations to make the continuation bonus payments pursuant to the agreements listed on
Schedule 8.2(c)(ii). 
 (vi) any liabilities or obligations to any Person with respect to any Action
relating to or arising from the ownership of the Purchased Assets or the operation of the Business prior to the or on the Closing, whether or not such Action is pending, threatened or asserted before, on or after the Closing, except to the extent
set forth in Sections 2.2(a)(i) or 2.2(a)(vii); or 
 (vii) all liabilities and obligations to
third parties arising out services provided or products sold or repaired by the Business prior to the Closing or arising from or relating to products that are included in Inventory and are sold by Buyer within 60 days of the Closing Date.

 Article III 
 PURCHASE PRICE AND CLOSING 
 Section 3.1 Closing. The closing
of the sale and purchase of the transactions contemplated by this Agreement (the “Closing”) shall take place no less than three or more than five business days following the satisfaction or waiver of each condition to Closing set
forth in Article IX (other than such conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of such conditions at or prior to the Closing) (but in any event not sooner than
October 23, 2009 unless mutually agreed by the Buyer and Seller), at the 

  
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offices of the Seller, 10 Longs Peak Drive, Broomfield, Colorado 80021, or at such other place or on such other date as the Parties may agree in writing. The date on which the Closing actually
occurs will be referred to as the “Closing Date,” and except as otherwise expressly provided herein, the Closing shall for all purposes be deemed effective as of 12:01 a.m., prevailing Eastern time, on the Closing Date. 

Section 3.2 Purchase Price. On the terms and subject to the conditions set forth in this Agreement, the Buyer shall pay and
deliver to the Seller (or cause to be paid and delivered to the Seller), an amount equal to THIRTY TWO MILLION DOLLARS ($32,000,000) (as adjusted pursuant to Section 3.3, “Purchase Price”), by wire transfer, of
immediately available funds to an account designated by the Seller not later than two business days prior to the Closing. 

Section 3.3 Purchase Price Adjustments. 
 (a) Within 30 days after the Closing Date, the Seller shall in good faith prepare and deliver to the Buyer a statement (the “Closing Statement”) consisting of (i) an unaudited
consolidated balance sheet of the Business as of the opening of business on the Closing Date (the “Closing Balance Sheet”), (ii) a calculation in reasonable detail of the Net Working Capital Amount as of the opening of business
on the Closing Date, as shown on the Closing Balance Sheet (the “Closing Date Net Working Capital Amount”) and (iii) a calculation of the amount, if any, payable pursuant to clause (d) of this Section 3.3. The
Closing Statement shall be prepared in accordance with the accounting principles, practices and methodologies set forth in Exhibit A (the “Applicable Accounting Principles”). 

(b) The Buyer shall have 30 days to review the Closing Statement from the date of its receipt thereof (the “Review
Period”). During the Review Period, the Buyer and its authorized representatives shall have reasonable access to all relevant books and records of the Seller to the extent required to complete its review of the Closing Statement. If the
Buyer objects to any aspect of the Closing Statement, then the Buyer must deliver a written notice of objection (the “Objection Notice”) to the Seller on or prior to the expiration of the Review Period; provided that the Buyer may
so object to the Closing Statement based only on the existence of mathematical errors therein or on the failure of the Closing Statement to be prepared in accordance with the Applicable Accounting Principles. The Objection Notice shall specify in
reasonable detail any adjustment to the Closing Statement proposed by the Buyer and the basis therefor, including the specific items proposed to be adjusted and the specific Dollar amount of each such proposed adjustment and a reasonably detailed
explanation of how such proposed adjustment was calculated. If the Buyer delivers an Objection Notice to the Seller on or prior to the expiration of the Review Period in accordance with this Section 3.3(b), the Buyer and the Seller
shall, for a period of 30 days thereafter (the “Resolution Period”), attempt in good faith to resolve the matters properly contained therein. If the Buyer and the Seller reach an agreement with respect to any disputed items as
evidenced by a written resolution, signed by each of the Buyer and the Seller, any agreement with respect to such matter shall be final, binding, conclusive and non-appealable for all purposes hereunder and the Seller shall revise the Closing
Statement to reflect such agreement. Except to the extent properly challenged in an Objection Notice as provided in this Section 3.3(b), or in the event the Buyer does not deliver an Objection Notice to the Seller in accordance with this
Section 3.3(b) prior to the expiration of the Review Period, the Buyer shall be deemed to have agreed to the undisputed portions of the Closing 

  
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Statement (as the case may be) shall be final, binding, conclusive and non-appealable for all purposes hereunder. 
 (c) If, at the conclusion of the Resolution Period, the Buyer and the Seller have not reached an agreement with respect to all disputed matters contained in the Objection Notice, then within 10 business
days thereafter, the Buyer and the Seller shall engage and shall submit for resolution those of such matters remaining in dispute to a nationally recognized independent accounting firm mutually acceptable to the Seller and the Buyer or, in the
absence of agreement on the accounting firm within 10 business days of notice by the Buyer or the Seller of intent to initiate such a referral, to an accounting firm determined by the American Arbitration Association (the “Neutral
Auditor”). The Neutral Auditor shall act as an arbitrator to resolve (based solely on presentations of the Buyer and the Seller and not by independent review) only those matters included in the Objection Notice and still in dispute at the
end of the Resolution Period. The resolution of any such disputed matter by the Neutral Auditor shall be limited (i) to whether the Closing Statement was prepared with respect to such matter in accordance with Section 3.3(a), and
(ii) if the Closing Statement has not been so prepared, to modifying the Closing Statement to reflect the recalculation of such matter in accordance with such Section. The Buyer and the Seller shall direct the Neutral Auditor to render a
resolution of all such disputed matters within 30 days after its engagement or such other period agreed upon by the Buyer and the Seller. The resolution of the Neutral Auditor shall be set forth in a written statement delivered to each of the
Parties and shall be final, binding, conclusive and non-appealable for all purposes hereunder. The Closing Statement, once modified and/or agreed to in accordance with Section 3.3(b) or this Section 3.3(c), shall become the
“Final Statement”. All fees and expenses relating to the work performed by the Neutral Auditor shall be borne one half by the Buyer and one half by the Seller. Except as provided in the preceding sentence, all other costs and
expenses incurred by the Parties in connection with resolving any dispute hereunder before the Neutral Auditor shall be borne by the Party incurring such cost and expense. 
 (d) Subject to clause (e) of this Section 3.3, 
 (i) if the
Closing Date Net Working Capital Amount as stated on the Final Statement exceeds Four Million Fifty Thousand Dollars ($4,050,000) (the “Target Net Working Capital Amount”), then the Buyer shall pay to the Seller an amount
equal to such excess by wire transfer of immediately available funds to the account designated in writing by the Seller, within 5 business days after the date on which the Closing Statement becomes the Final Statement; or 

(ii) if the Closing Date Net Working Capital Amount is less than the Target Net Working Capital Amount, then the Seller shall pay to the
Buyer an amount equal to the amount of such shortfall, by wire transfer of immediately available funds to the account designated in writing by the Buyer, within 5 business days after the date on which the Closing Statement becomes the Final
Statement. 
 (e) Notwithstanding the foregoing provisions of this Section 3.3, no adjustment to the Purchase Price
pursuant to Sections 3.3(d)(i) or 3.3(d)(ii) shall be made unless such adjustment (whether an increase or a decrease) would exceed One Hundred Thousand Dollars ($100,000) 

  
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(the “WC Threshold Amount”), in which case, the full amount of the adjustment, inclusive of the WC Threshold Amount, shall be made. 

(f) Except to the extent prohibited by Law, payments pursuant to this Section 3.3 will be treated by the Parties as an
adjustment to the Purchase Price. 
 Section 3.4 Allocation of Purchase Price. The Seller and the Buyer agree to
determine for Income Tax and Tax purposes the amount of and allocate the Purchase Price and Assumed Liabilities among the Purchase Assets in accordance with the fair market value of the Purchased Assets. Within 120 days after the Closing Date, the
Buyer shall provide to the Seller copies of IRS Form 8594 and any required exhibits thereto, prepared in accordance with Section 1060 of the Code (the “Allocation Statement”), with the Buyer’s proposed allocation of the
consideration (as determined for purposes of Section 1060). The Allocation Statement shall be amended within 15 days of any final adjustment under Section 3.3, to reflect any such payment in the Allocation Statement. The Seller
shall review the Allocation Statement and, to the extent the Seller in good faith disagrees with the content of the Allocation Statement, the Seller shall, within 30 days after receipt of the Allocation Statement, provide written notice to the Buyer
of such disagreement, which notice shall contain specific items of disagreement and reasons therefor. If the Seller does not object by written notice within such 30-day period, the Buyer’s Allocation Statement shall be final, binding and
conclusive for all Income Tax and Tax purposes. If, however, the Parties are unable to agree on the Allocation Statement within thirty (30) days of the Buyer’s receipt of the Seller’s written notice objecting to the Allocation
Statement, the items in dispute shall be resolved by the Neutral Auditor. Promptly, but not later than 15 days after its acceptance of appointment hereunder, the Neutral Auditor will determine (based solely upon representations of the Buyer and the
Seller and not by independent review) only those matters in dispute, and will render a written report as to the disputed matters and the resulting allocation of the consideration, which report shall be conclusive and binding upon the Parties. The
fees, expenses and costs of the Neutral Auditor shall be borne equally by the Parties. No Party shall take any position inconsistent with the Allocation Statement (or any adjustment to such Allocation Statement, as modified by the Neutral Auditor or
contemplated by the next sentence) for Income Tax and Tax reporting purposes (including on IRS Form 8594), except as required otherwise by applicable Law. Any adjustments to the consideration shall be allocated as provided by Treasury Regulation
§ 1.1060-1(c). In the event that the allocation as determined hereunder is disputed by any Tax Authority, the Party receiving notice of such dispute shall promptly notify and consult with the other Parties and keep the other Parties apprised of
material developments concerning resolution of such dispute. 
 Section 3.5 Tax Reporting. 

(a) For the taxable year that includes the Closing Date, the Buyer and the Seller shall prepare, in a manner consistent with the
allocation pursuant to Section 3.4, and timely file with the applicable Government Entity all Income Tax Returns (including any forms, statements and documents required to be prepared and/or filed in connection with such Tax Returns and
any other forms or statements required by the Code, the IRS or any other applicable Governmental Entity) that are connected to (or otherwise affected by) the transactions contemplated hereunder. Each of the Buyer and the Seller agree to promptly
provide the other Party with any additional information and reasonable assistance required to complete any such form or report (including 

  
 17 

 
any required forms, statements and documents) or compute income taxes arising in connection with (or otherwise affected by) the transactions contemplated hereunder. 

(b) The Buyer and the Seller shall promptly inform one another in writing of any challenge by any taxing authority to any allocation of
the Purchase Price plus the Assumed Liabilities among the Purchased Assets and agree to consult with and keep one another informed and cooperate in good faith with respect to the status of, and any discussion, proposal or submission with respect to,
any such challenge. 
 Article IV 
 REPRESENTATIONS AND WARRANTIES OF THE SELLER 
 Except as set forth in, and
in all cases subject to, the Seller Disclosure Schedules, the Seller represents and warrants to the Buyer as follows: 

Section 4.1 Organization. The Seller is a corporation duly organized, validly existing and in good standing under the Laws of
the jurisdiction of its organization. The Seller is duly qualified or licensed to do business as a foreign corporation and is in good standing in each jurisdiction in which the ownership or lease of the Purchased Assets or the conduct of the
Business requires such qualification or license, except where the failure to be so qualified or be so licensed would not have a material adverse effect on the Business. The Seller has all requisite corporate power and authority to carry on the
Business as currently conducted and to own, lease or use, as the case may be, the Purchased Assets. 
 Section 4.2
Authorization of Transaction. The Seller has all requisite corporate power and authority to execute and deliver this Agreement and each of the Ancillary Documents to which it is a party, to perform its obligations hereunder and thereunder and to
consummate the transactions contemplated hereby and thereby. The Seller has taken all corporate action required to authorize the execution and delivery of this Agreement and the Ancillary Documents, the performance of the Seller’s obligations
hereunder and thereunder and the consummation of the transactions contemplated hereby and thereby. This Agreement constitutes, and each of such Ancillary Documents when executed and delivered by the Seller will constitute, a valid and legally
binding obligation of the Seller (assuming valid execution and delivery of this Agreement and the Ancillary Documents by the other parties thereto), enforceable against the Seller in accordance with its terms and conditions, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and similar Laws of general applicability affecting creditors’ rights, or by general equity principles. 

Section 4.3 Noncontravention; Consents. 
 (a) The execution and delivery by the Seller of this Agreement and the Ancillary Documents to which it is a party, and the consummation by the Seller of the transactions contemplated hereby and thereby,
do not: (i) violate any Law in any material respect; (ii) conflict with or result in a breach of any provision of the certificate of incorporation, bylaws or other organizational documents of the Seller; (iii) except as set forth in
Schedule 4.3(a), require any consent of or other action by any Person under, constitute a material default or an event that, with or without notice or lapse of time or both, would constitute a material default

  
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under, or cause or permit termination, cancellation, acceleration or other change of any material right or obligation or the loss of any material benefit under, any provision of any material
Purchased Contract; or (iv) result in the creation or imposition of any Lien, other than any Permitted Liens, upon any material Purchased Asset. 
 (b) No material notices, Permits, consents, approvals, authorizations, qualifications or orders of Governmental Entities are required for the consummation by the Seller of the transactions contemplated
hereby or by the Ancillary Documents to which it is a party. 
 Section 4.4 Financial Statements; Accounting
Controls. 
 (a) The Seller has delivered to the Buyer complete copies of (i) unaudited financial statements of the
Business at and for the periods ended December 31, 2008 and (ii) unaudited interim financial statements of the Business at and for the eight month period ended August 30, 2009, consisting of in the case of each of clauses (i) and
(ii) a schedule of assets and liabilities and statements of income or operations (excluding corporate allocated costs), and cash flows (collectively, the “Financial Statements”). The Financial Statements have been prepared from
the books of account and other financial records of the Seller in accordance with GAAP applied on a consistent basis (except as may be indicated in the notes thereto) and present fairly in all material respects the financial position, results of
operations and cash flows of the Business at and for the respective periods indicated (subject, in the case of the Reference Balance Sheet, to normal year-end adjustments, which will not be material to the Business taken as a whole). 

(b) The Seller has devised and maintained systems of internal accounting controls with respect to the Business sufficient to provide
reasonable assurances that (i) all transactions are executed in accordance with management’s general or specific authorization, (ii) all transactions are recorded as necessary to permit the preparation of financial statements in
conformity with GAAP and to maintain proper accountability for items, (iii) access to their property and assets is permitted only in accordance with management’s general or specific authorization and (iv) recorded accountability for
items is compared with actual levels at reasonable intervals and appropriate action is taken with respect to any differences. 

Section 4.5 Liabilities. Except for the Excluded Liabilities, the Business does not have any material liabilities or
obligations of any nature that would be required to be stated on a balance sheet, whether absolute, accrued, contingent or otherwise, that would be Assumed Liabilities, other than liabilities and obligations (i) incurred in the ordinary course
of business since the Effective Date, (ii) disclosed in or contemplated by this Agreement, the Seller Disclosure Schedules, the Closing Statement or any Ancillary Document (including the Assumed Liabilities), or (iii) arising under the
Purchased Contracts. 
 Section 4.6 Absence of Certain Changes. Except as disclosed in the Financial Statements, as
set forth on Schedule 4.6 and for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date, since December 31, 2008, the Business has been operated only in the
ordinary course consistent with past practice, there has not been any event, development, or state of circumstances that has had or is reasonably be expected to have a material adverse effect on the Business and with respect to the Business, the
Seller has not: 

  
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 (a) paid, discharged or satisfied any claims, liabilities or obligations (absolute, accrued,
contingent or otherwise) involving more than $100,000 with respect to the Business, other than (i) the payment, discharge or satisfaction in the ordinary course of business and consistent with past practice of liabilities and obligations
incurred in the ordinary course of business and consistent with past practice and (ii) the payment, discharge or satisfaction of any Excluded Liabilities; 
 (b) permitted or allowed any of the Purchased Assets to become subject to any Lien other than Permitted Liens; 
 (c) sold, transferred or otherwise disposed of any of the Purchased Assets other than dispositions of Inventory or obsolete or worn-out equipment, machinery or other tangible personal property in the
ordinary course of business consistent with past practices; 
 (d) (i) granted any general increase in the compensation of
Union Employees (including any such increase pursuant to any bonus, pension, profit-sharing or other plan or commitment) other than in the ordinary course of business consistent with past practice; (ii) increased the benefits payable under any
existing severance or termination pay policies or agreements with respect to Union Employees other than in the ordinary course of business consistent with past practice, (iii) entered into any employment, severance, termination, retention,
change in control, sale or transaction bonus, deferred compensation or other similar agreement or arrangement (or any amendment to any such existing agreement or arrangement) with any Union Employee other than in the ordinary course of business
consistent with past practice; or (iv) established, adopted or amended any collective bargaining, bonus, profit-sharing, thrift, pension, retirement, deferred compensation, stock option, restricted stock or other Employee Benefit Plan or
arrangement covering any Union Employee other than in the ordinary course of business consistent with past practice; 
 (e)
since June 1, 2009, (i) granted any general increase in the compensation (including any such increase pursuant to any bonus, pension, profit-sharing or other plan or commitment) of Business Employees; (ii) increased the benefits
payable under any existing severance or termination pay policies or agreements with respect to Business Employees, (iii) entered into any employment, severance, termination, retention, change in control, sale or transaction bonus, deferred
compensation or other similar agreement or arrangement (or any amendment to any such existing agreement or arrangement) with any Business Employee; or (iv) established, adopted or amended any collective bargaining, bonus, profit-sharing,
thrift, pension, retirement, deferred compensation, stock option, restricted stock or other Employee Benefit Plan or arrangement covering any Business Employee; 
 (f) made any (i) change in any method of financial or Tax accounting or financial or Tax accounting practice specifically in respect of the Business, except for any such change required by applicable
Law or by reason of a concurrent change in GAAP or (ii) revaluation of any material Purchased Assets; 
 (g) except for
travel or similar advances in the ordinary course of business consistent with past practices, loaned or advanced amounts in excess of $20,000 to, or sold, transferred or leased any Purchased Assets to, any of the officers or employees of the
Business or entered into 

  
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any agreement or arrangement permitting the foregoing or with respect to any payments or acceleration of payments to such parties in connection with the transactions contemplated hereby;

 (h) suffered any material damage, destruction or other casualty loss (whether or not covered by insurance) in respect of the
Business or the Purchased Assets; 
 (i) made any material payments to, granted any material discounts in favor of or extended
any other material consideration to customers or suppliers by the Seller, other than in the ordinary course of business consistent with past practice; 
 (j) failed to pay or satisfy when due any material liability; 
 (k) sold,
transferred, leased, granted any exclusive license or made any other disposition of any material asset that would otherwise constitute a Purchased Asset, except for inventory sold in the ordinary course of business consistent with past practice;

 (l) amended, cancelled, compromised or waived any material claim; or 

(m) agreed to take any action described in this Section 4.6. 

Section 4.7 Title to Properties; Liens. 
 (a) The Seller has valid title, or, in the case of leased Purchased Assets (including the Newnan Facility), valid and effective leases, to all the Purchased Assets (including, for the avoidance of doubt,
all Intellectual Property Assets) that the Seller purports to own or lease (real, personal and mixed, tangible and intangible) and such assets are or as of the Closing shall be held free and clear of any Liens other than Permitted Liens. Except as
set forth on Schedule 4.7, the Purchased Assets constitute all of the rights, properties and assets (including all Contracts) that are necessary to conduct the Business immediately following the Closing in substantially the same manner as
conducted by Seller as of the Closing Date. No Affiliate of Seller holds any assets that would constitute Purchased Assets if such assets were owned by the Seller on the Closing Date. The Seller is not a sublessor or grantor under any sublease or
other instrument granting to any other Person any right to the possession, lease, occupancy or enjoyment of any of the leased Purchased Assets (including the Newnan Facility). To the Seller’s Knowledge, there are no easements, covenants or
other encumbrances that are not a matter of record that would materially impair the current use of the Purchased Assets (including the Newnan Facility). The Seller has not received written notice of any proceedings, claims or disputes affecting the
Newnan Facility that are reasonably likely to curtail or interfere with the present use or adversely affect the value of such Newnan Facility, in each case, in any material respect. There is not any action of eminent domain, confiscation, seizure,
or condemnation pending or, to the Seller’s Knowledge, threatened, for any portion of the Newnan Facility. 
 (b) The
Seller has not received any written notice since December 31, 2008 or, to the Seller’s Knowledge, any other written notice that is currently unresolved, from any Governmental Entity having jurisdiction over the Newnan Facility threatening
a suspension, modification or cancellation of certificates of occupancy or Permits required under applicable 

  
 21 

 
Law to occupy and use lawfully the Newnan Facility to conduct the Business, in each case, as presently conducted. 
 (c) To the Seller’s Knowledge, the use and operation of the Newnan Facility by the Seller in the Business as presently conducted are not dependent on a nonconforming use or other waiver from a
Governmental Entity, the absence of which would cause the cessation of or materially adversely limit operations or the production of product at the Newnan Facility or otherwise materially limit the use of the Newnan Facility or the operation of the
Business, in each case, as presently conducted. 
 (d) Subject, in each case, to the terms and conditions of the easement or
other instrument pursuant to which ingress and egress is made available, to the Seller’s Knowledge there is reasonably free and uninterrupted ingress and egress of a duration at least equal to the remaining term of the Real Property Lease, and
reasonably suitable for the operation of the Business as presently conducted, to the Newnan Facility from a public street, road, highway or other reasonable means of public access. Further, the Seller has not received any written notice of any claim
or claims that would limit such ingress and egress access. 
 (e) Neither the Seller nor, to the Seller’s Knowledge, the
lessor is in default in any material respect under the Real Property Lease and no written claim of any default thereunder has been received by the Seller which has not been cured, all rent and other sums and charges currently due from the Seller
under the Real Property Lease have been paid. 
 Section 4.8 Equipment. The Equipment and other material tangible
assets included in the Purchased Assets are (including any Equipment used in the operation of the Business at the Newnan Facility and located on any third party’s property), taken as a whole, in an operating condition and repair (ordinary wear
and tear excepted) in all material respects adequate for the uses to which they are being put in the conduct of the Business as presently conducted by the Seller and, to the Seller’s Knowledge, water, gas, electrical, compressed air,
telecommunications, sanitary and storm sewage lines and systems and other similar systems reasonably necessary to operate the Business as presently operated at the Newnan Facility have been installed and is operating sufficiently in all material
respects to conduct the Business as presently conducted. 
 Section 4.9 Intellectual Property Assets.

 (a) Schedule 2.1(a)(iii) contains a complete and accurate list of the following Intellectual Property Assets:
(i) registrations of and applications to register Trademarks; (ii) Patents; (iii) registrations of and applications to register Copyrights; and (iv) license agreements and other material agreements relating to the development or
acquisition of or granting to others the right to use Intellectual Property Assets. Except as set forth in an IP Agreement identified on Schedule 4.9, the Seller has not agreed to pay after the Closing Date any royalties, honoraria, fees or
other payments to any Person in connection with the use of any of the Intellectual Property Assets. 
 (b) (i) The Seller
owns or has the right to use all of the Intellectual Property Assets, (ii) the Seller is the owner of the registrations and applications that are set forth in Schedule 2.1(a)(iii), and (iii) no registration or application listed in
Schedule 2.1(a)(iii) is the 

  
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subject of any existing or, to the Seller’s Knowledge, threatened opposition, interference, cancellation or other proceeding before any Governmental Entity in any jurisdiction. To the
Seller’s Knowledge, the registrations listed in Schedule 2.1(a)(iii) are valid and subsisting, in proper form and enforceable, and have been duly maintained. 
 (c) The use of the Intellectual Property Assets does not infringe upon or misappropriate any intellectual property right of any third party, in each case in any material respect. There are no claims of
such infringement or misappropriation pending or, to the Seller’s Knowledge, threatened, and the Seller has not received any written notice of any such claim since December 31, 2008 through the Effective Date. To Seller’s Knowledge,
no third party is infringing upon or misappropriating any Intellectual Property Assets. 
 (d) (i) Schedule
2.1(a)(iii) contains a complete and accurate list of agreements under which the Seller has granted, or has been granted, the right to use any material Technology or any material Patents, Trademarks or Copyrights, where such agreements relate
primarily to the Business. The Seller is not in material breach or default under any of the license agreements set forth in Schedule 2.1(a)(iii), and to the Seller’s Knowledge, no other party is in material breach or default of any of
the license agreements set forth in Schedule 2.1(a)(iii). 
 (e) There are no material Patents, registered or
unregistered Trademarks or registered Copyrights owned by the Seller that are used in connection with the Business that are not being transferred to the Buyer hereunder other than the Excluded Names. The Seller does not own any foreign counterparts
to the Patents or the registered Trademarks included in the Intellectual Property Assets, other than those that are included in the Intellectual Property Assets. 
 Section 4.10 Certain Contracts. 
 (a) Schedule 4.10(a) lists all
Contracts, as of the Effective Date, that would constitute Purchased Contracts if in effect on the Closing Date and constitute: 
 (i) instruments or agreements for money borrowed (including any indentures, guarantees, loan agreements, sale and leaseback agreements, or purchase money obligations incurred in connection with the
acquisition of property other than in the ordinary and usual course of business consistent with past practice) with an outstanding amount owed by the Business in excess of $100,000 and included in the Assumed Liabilities; 

(ii) leases or subleases for tangible personal property which require lease payments in excess of $250,000 in the 12-month
period immediately following the Effective Date (other than those agreements which are terminable on 60 days notice) and the Real Property Lease; 
 (iii) any Contract with any supplier identified on Schedule 4.19(b) under which Seller made payments of $250,000 or more during the eight-months ended August 30, 2009; 

(iv) Contracts for any capital expenditures in excess of $50,000; 

  
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 (v) a sales, distribution, agency or other similar Contract involving
payments in excess of $500,000; and 
 (vi) other Contracts, notes, security agreements, understandings or
commitments that obligate the Seller to pay an amount in excess of $250,000 in the 12-month period immediately following the Effective Date. 

A copy of each Contract required to be disclosed on Schedule 4.10(a) (together with all amendments thereto), has been provided or made available
to the Buyer and each such Contract is a valid and binding obligation of the Seller, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and similar Laws of general applicability affecting
creditors’ rights, or by general equity principles. 
 (b) No Contract, Permit to be assigned hereunder, or other
understanding contained in the Purchased Assets that would be legally binding upon the Buyer from and after the Closing restricts the ability of the Buyer or any of its Affiliates to conduct any operations currently conducted by the Business in any
geographic area. 
 Section 4.11 Orders and Commitments. All material outstanding orders and commitments for the
supplies and products of the Business have been made in the ordinary course of the Business consistent with past practices. As of the Effective Date, there are no claims in excess of $50,000 per claim and are pending against the Seller to return any
merchandise sold by the Business by reason of alleged overshipments, defective merchandise or otherwise, or of merchandise in the hands of customers under an understanding that such merchandise would be returnable. As of the Effective Date, such
claims in the aggregate do not exceed $250,000. 
 Section 4.12 Taxes. 

(a) The Seller has duly and timely filed (or had filed on its behalf) or will duly and timely file, all Tax Returns required to be filed
by it with respect to the Business (but excluding Tax Returns the non-filing of which is not material), and each such Tax Return is true, correct and complete in all material respects. 

(b) With respect to the Business, the Seller has duly paid or made adequate provision for the due and timely payment of all Taxes, in
each case that (as of the Closing Date) are or may become payable by the Seller or chargeable as a Lien upon the Purchased Assets, the amounts of which are material, including any deposits or payments with respect to employee withholdings, and to
interest, penalties, assessments and deficiencies relating to such Taxes, due or claimed to be due from it (other than amounts being contested in good faith, for which reserves have been established) whether or not reflected on a Tax Return.

 (c) To the Seller’s Knowledge there are no Liens for Taxes or Income Taxes (other than Permitted Liens) upon the
Purchased Assets. Neither the Seller nor any of its Affiliates has received any written notice of any Liens for Taxes or Income Taxes (other than Permitted Liens) upon the Purchased Assets. 

  
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 (d) All material deficiencies and assessments for Taxes of the Seller with respect to the
Purchased Assets by any Governmental Entity and declared by such Governmental Entity to be due or ordered to be paid have been paid (other than amounts being contested in good faith for which reserves have been established). 

(e) Except as set forth on Schedule 4.12(e), there are no material Taxes asserted in writing by any Governmental Entity to be due
in respect of the Business or the Purchased Assets, (ii) no issue has been raised in writing by any Governmental Entity in the course of any open audit with respect to material Taxes concerning the Business or the Purchased Assets,
(iii) no material Taxes concerning the Business or the Purchased Assets are currently under audit by any Governmental Entity and (iv) no Governmental Entity is now asserting or, to the Seller’s Knowledge, threatening to assert any
material deficiency or claim for additional material Taxes or any material adjustment of Taxes. 
 (f) Except as set forth on
Schedule 4.12(f), with respect to the Business, the Seller has not (i) waived any statute of limitations, (ii) agreed to any extension of the period for assessment or collection or (iii) executed or filed any power of attorney
with respect to material Taxes, which waiver, agreement or power of attorney will be binding on the Buyer after the Closing. 

(g) The Seller is not a “foreign person” within the meaning of Section 1445(a) of the Code. 

Section 4.13 Litigation. There is no claim, demand, action, suit, litigation or proceeding or, to the Seller’s
Knowledge, inquiry or investigation, pending or, to the Seller’s Knowledge, threatened against or with respect to the Business or any Purchased Asset, or which questions or challenges the validity of this Agreement or the Ancillary Documents or
any action taken or to be taken in connection with this Agreement or the Ancillary Documents or in connection with the transactions contemplated hereby or thereby, in each case, that if upheld would reasonably be expected to be material to the
post-Closing conduct of the Business. There is no settlement agreement or similar agreement binding upon the Seller or the Purchased Assets which materially restricts or encumbers the ownership, use or operation of the Business or the Purchased
Assets and, except as would not have a material adverse effect on the Business, there are no outstanding orders, judgments, stipulations, decrees, injunctions, determinations or awards issued by any Governmental Entity against or affecting
ownership, use or operation of the Business or any of the Purchased Assets. 
 Section 4.14 Compliance with Law.
Since December 31, 2008, (i) the conduct of the Business and the operation of the Purchased Assets by the Seller has complied in all material respects with all applicable Laws and, to the Seller’s Knowledge, are not under
investigation with respect to any material violation of any applicable Laws, and (ii) as of the Effective Date, no Action against the Seller or any of its Affiliates has been filed or commenced or, to the Seller’s Knowledge, threatened,
alleging any failure to so comply; provided, however, that this Section 4.14 does not apply with respect to (a) any infringement, misappropriation or other unauthorized use of Intellectual Property Assets, (b) Taxes,
Environmental Laws and any Permits required thereunder, labor relations matters or employee benefits matters, which are 

  
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exclusively the subject of the representations and warranties in Sections 4.12, 4.15, 4.16 and 4.17, respectively . 

Section 4.15 Environmental Protection. 
 (a) The Seller has obtained all material Environmental Permits which are required under applicable Environmental Laws for the conduct by the Seller of its activities of the Business and the ownership and
operation of the Purchased Assets. No action is pending, or to Seller’s Knowledge, threatened to revoke any such Environmental Permits. The Seller is in compliance in all material respects with the terms and conditions of such Environmental
Permits. All such Environmental Permits with respect to the Business are listed in Schedule 4.15(a). 
 (b) With respect
to the Business, the activities of the Seller on the Newnan Facility are and since December 31, 2008, have been in compliance in all material respects with all applicable Environmental Laws. 

(c) There is no material civil, criminal or administrative action or claim pending, or to the Seller’s Knowledge, threatened under
any Environmental Laws with respect to the activities of the Seller relating to the Business and the Purchased Assets. 
 (d)
There have been no Releases of Hazardous Materials in, on, under, from or affecting the Newnan Facility or the Purchased Assets that would subject the Buyer to any material liability under any Environmental Law or require any material expenditure by
the Buyer thereunder. 
 (e) The Seller has not, since December 31, 2008 through the Effective Date, received any written
notice, demand letter or legally binding order from any Person advising it that it is, with respect to the Business, Newnan Facility or Purchased Assets, responsible for or potentially responsible for investigation or cleanup or paying for the cost
of investigation or cleanup of Hazardous Materials. 
 Section 4.16 Labor Relations. 

(a) The Seller is, with respect to the Business Employees, the Union Employees and the Retained Employees, in compliance with all
applicable Laws respecting employment and employment practices, terms and conditions of employment, workers compensation, occupational safety and health requirements, plant closings, wages and hours, withholding of taxes, worker classification,
employment discrimination, disability rights or benefits, equal opportunity, affirmative action, labor relations, employee leave issues and unemployment insurance and related matters, in each case except for such non-compliance that would not have a
material adverse effect on the Business, and is not engaged in any material unfair labor practice as defined in the National Labor Relations Act or other applicable Law. 
 (b) Except for the Newnan Union Contract, the Seller is not a party to or bound by any collective bargaining agreement covering the Business Employees, and to the Seller’s Knowledge, there are no
material union organizing activities taking place among the Business Employees, nor does any material question concerning representation exist concerning such Business Employees. The Newnan Union Contract does not cover any Employees that are not

  
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exclusively engaged in the Business. Since January 1, 2006, there has not occurred or, to the Seller’s Knowledge, been threatened any material strike, slowdown, picketing, work
stoppage, concerted refusal to work overtime or other similar labor activity with respect to the Union Employees and the Seller is in compliance in all material respects with the Newnan Union Contract. 

(c) Seller has made available to Buyer a list of all of the Business Employees and Union Employees as of the Effective Date, which list
sets forth the current salary of such Business Employee’s or Union Employee’s. 
 Section 4.17 Employee
Benefit Matters. 
 (a) Schedule 4.17(a) contains a true and complete list of each pension, retirement, savings,
profit-sharing, stock bonus, stock purchase, stock option, restricted stock, fringe benefit, deferred compensation, bonus or other incentive compensation, equity compensation plan, program, policy, agreement, contract, arrangement or fund, including
each pension plan, fund or program within the meaning of Section 3(2) of ERISA, each medical, dental, hospitalization, supplemental unemployment benefits, life insurance or other welfare plan, program, policy, agreement, contract, arrangement
or fund, including each welfare plan, fund or program within the meaning of Section 3(1) of ERISA, each employment, termination, severance, retention, change in control, sale bonus, or transaction bonus plan, program, policy, agreement,
contract or arrangement and each other employee benefit plan, program, policy, agreement, contract, arrangement or fund, in each case, that is sponsored, maintained or contributed to or required to be contributed to by the Seller or by any trade or
business, whether or not incorporated (an “ERISA Affiliate”) that together with the Seller would be deemed a single employer within the meaning of Section 414 (b), (c), (m) or (o) of the Code or Section 4001(b) of
ERISA, or to which the Seller or an ERISA Affiliate is a party, or to which the Seller or an ERISA Affiliate contributes or has liability on behalf of, any Business Employee or Union Employee (each an “Employee Benefit
Plan”). Schedule 4.17(a) identifies each of the Employee Benefit Plans that is subject to Section 302 or Title IV of ERISA or Section 412 of the Code and each of the Employee Benefit Plans that provides post termination
medical or retiree medical benefits (other than those required by Section 4980B of the Code). The Seller has made available to the Buyer true and complete copies of all Employee Benefit Plans listed on Schedule 4.17(a). 

(b) Each Employee Benefit Plan intended to be qualified under Section 401(a) of the Code, and the trust (if any) forming a part
thereof, is so qualified and has received a favorable determination letter from the IRS. Each Employee Benefit Plan has been operated and administered in all material respects in accordance with its terms and applicable Law, including ERISA and the
Code. 
 (c) All contributions and premiums required to have been made by the Seller or any of its Affiliates to an Employee
Benefit Plan under the Newnan Union Contract have been timely made on or before the due date thereof. No event has occurred, and no condition exists under Title I or Title IV of ERISA or the penalty, excise tax or joint and several liability
provisions of the Code or under other applicable Laws relating to employee plans, that would, either directly, or by reason of the Seller’s affiliation with any of their ERISA Affiliates, subject, on or after the 

  
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Closing, the Buyer, the Business or any plan of the Buyer, to any Tax, fine, lien, penalty or other liability imposed by ERISA, the Code or other applicable Law. 

Section 4.18 Transactions with Affiliates. 
 (a) Schedule 4.18(a) lists all material services and assets provided by or through Seller or any of its Affiliates in the conduct of the Business that are not included among the Purchased Assets or
are not to be made available pursuant to the Transition Administrative Services Agreement. 
 (b) Schedule 4.18(b) lists
(i) any transfers of personnel between the Business and the Retained Business from and after January 1, 2009 and (ii) to the extent not disclosed on Schedule 4.18(a), all Contracts between Seller or any of its
Affiliates, on the one hand, and the Business, on the other hand, in effect from and after January 1, 2009 (all of the foregoing transactions described in this Section 4.18, collectively, “Affiliated Party
Transactions”). 
 Section 4.19 Customers and Suppliers. 

(a) Schedule 4.19(a) lists (i) the names and addresses of each customer (including Affiliates of the Seller) that ordered
products or services from the Business, individually or in the aggregate, with an aggregate purchase price of $500,000 or more during the eight-month period ended August 31, 2009 and (ii) the amount of purchases by each such customer
during such period. Except as indicated in Schedule 4.19(a), since June 1, 2009 through the Effective Date, to the Seller’s Knowledge, no such customer has informed Seller that it has concluded that it will materially reduce or
cease purchasing product from the Business in the 12 months following the Effective Date. 
 (b) Schedule 4.19(b) lists
(i) the names and addresses of each supplier (including any Affiliates of the Seller) from which the Business, individually or in the aggregate, ordered raw materials, supplies or other products or services with an aggregate purchase price of
$250,000 or more during the eight-month period ended August 31, 2009 and (ii) the amount of purchases by each such supplier during such period. 
 Section 4.20 Insurance. The fixed assets and leasehold improvements of the Business are insured under third-party insurance policies and the deductible/retention amounts under such policies is
$2 million. 
 Section 4.21 LIMITATION ON WARRANTIES. EXCEPT AS EXPRESSLY SET FORTH IN THIS ARTICLE IV, THE
SELLER MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, IN CONNECTION WITH OR WITH RESPECT TO ANY OF THE PURCHASED ASSETS, THE ASSUMED LIABILITIES, THE BUSINESS OR OTHERWISE, OR WITH RESPECT TO ANY
INFORMATION PROVIDED TO THE BUYER, INCLUDING WITH RESPECT TO ANY REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR USE, TITLE OR INFRINGEMENT. ALL OTHER REPRESENTATIONS OR WARRANTIES ARE HEREBY DISCLAIMED.
EXCEPT TO THE EXTENT SPECIFICALLY SET FORTH IN THIS ARTICLE IV, THE SELLER IS 

  
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SELLING, ASSIGNING AND TRANSFERRING THE PURCHASED ASSETS TO THE BUYER ON AN “AS-IS, WHERE-IS” BASIS. 
 Article V 
 REPRESENTATIONS AND WARRANTIES OF THE BUYER 

The Buyer represents and warrants to the Seller as follows: 
 Section 5.1 Organization. The Buyer is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware. The Buyer is duly qualified or licensed to
do business as a foreign corporation and is in good standing in each jurisdiction where such qualification or license is required, except where the failure to so qualify or be so licensed would not result in a material adverse effect on the
Buyer’s ability to consummate the transactions contemplated by, and discharge its obligations under, this Agreement and the Ancillary Documents to which it is a party. The Buyer has all requisite power and authority to carry on its business as
currently conducted. 
 Section 5.2 Authorization of Transaction. The Buyer has all requisite corporate power and
authority to execute and deliver this Agreement and each of the Ancillary Documents to which it is a party, to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The Buyer has taken
all corporate action required to authorize the execution and delivery of this Agreement and the Ancillary Documents, the performance of the Seller’s obligations hereunder and thereunder and the consummation of the transactions contemplated
hereby and thereby. This Agreement constitutes, and each of the Ancillary Documents when executed and delivered by the Buyer will constitute, a valid and legally binding obligation of the Buyer (assuming valid execution and delivery of this
Agreement and the Ancillary Documents by the other parties thereto), enforceable against the Buyer in accordance with its terms and conditions, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent transfer and similar Laws of general applicability affecting creditors’ rights or by general equity principles. 

Section 5.3 Noncontravention; Consents. 
 (a) The execution and delivery by the Buyer of this Agreement and the Ancillary Documents to which it is a party, and the consummation by the Buyer of the transactions contemplated hereby and thereby, do
not: (i) violate any Law to which the Buyer is subject; (ii) conflict with or result in a breach of any provision of the certificate of incorporation or bylaws or other organizational documents of the Buyer; or (iii) require any
consent or other action by any Person under any provision of any material agreement or other instrument to which the Buyer is a party. 
 (b) No material notices, Permits, consents, approvals, authorizations, qualifications or orders of Governmental Entities are required for the consummation by the Buyer of the transactions contemplated
hereby or by the Ancillary Documents to which it is a party. 
 Section 5.4 Litigation. There are no Actions pending
or, to the Buyers Knowledge, threatened, that question the validity of this Agreement or any of the Ancillary Documents. 

  
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 Section 5.5 Availability of Funds. The Buyer has access to immediately available
funds (or will have access following provision of notice required under the Buyer’s bank credit agreement) in a quantity sufficient to pay to the Seller the Purchase Price and to perform all of the Buyer’s obligations pursuant to, and to
consummate the transactions contemplated by, this Agreement and each of the Ancillary Documents to which it is a party; and the Buyer has the ability to perform the contractual obligations and performance required under the terms of this Agreement
and each of the Ancillary Documents. 
 Section 5.6 Brokers’ Fees. Neither the Buyer, nor any of its
Affiliates, has engaged or has any liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions contemplated by this Agreement. 

Section 5.7 No Further Representations and Warranties. The Buyer acknowledge and agree that (i) the only
representations, warranties, covenants and agreements made by the Seller or its Affiliates are the representations, warranties, covenants and agreements made in this Agreement, (ii) except for the representations and warranties contained in
this Agreement, neither the Seller nor its Affiliates makes any other representation or warranty of any kind or nature whatsoever, oral or written, express or implied, with respect to the Seller, its Affiliates, or the Business, and
(iii) neither the Seller nor its Affiliates makes any representation or warranty of any kind or nature whatsoever, oral or written, express or implied, regarding any projections or forecasts or the probable success or profitability of the
Business after the Closing. 
 Article VI 
 PRE-CLOSING COVENANTS 
 The Buyer and the Seller hereby covenant and agree
to the following with respect to the period prior to the Closing: 
 Section 6.1 Conduct of the Business.

 (a) From the Effective Date until the Closing Date, the Seller shall conduct the Business in the ordinary course consistent
with past practice and use its commercially reasonable efforts to preserve intact the Business and the Seller’s relationships with suppliers, dealers, customers and third parties having business relationships with the Business and keep
available the services of the present Business Employees (including the Retained Employees) and Union Employees, with such exceptions as occur in the ordinary course of business consistent with past practice. 

(b) Except as set forth in Schedule 6.1, from the Effective Date until the Closing Date, the Seller will not, in respect of the
Business, without the prior written consent of an executive officer of the Buyer (which consent shall not be unreasonably withheld, conditioned or delayed): 
 (i) acquire assets for use in the Business for an amount in excess of $50,000 in the aggregate from any Person, other than in the ordinary course consistent with past practice or pursuant to contractual
commitments in effect as of the Effective Date; 

  
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 (ii) sell, lease, enter into any new license with respect to or otherwise
dispose of any Purchased Assets except for dispositions of Inventory, obsolete and worn-out equipment and other tangible personal property and the following other items in the ordinary course consistent with past practice: (A) scrap and other
waste materials generated by or used in the production process; (B) recyclable paper, chipboards and separators; (C) non-usable pallets; and (D) corrugated cardboard; 

(iii) enter into any material agreement or contract with respect to the Business or any of the Purchased Assets that is
not assignable (or that requires the consent of a third party to assign which consent has not been obtained prior to the Closing) to the Buyer; 
 (iv) cancel any debts, or waive any claims or rights, in excess of $50,000 in the aggregate that would be Purchased Assets; 

(v) grant any increase in the rates or terms of compensation payable or to become payable to Business Employees (including
any such increase pursuant to any Employee Benefit Plan) except as required by any labor or other agreement or Employee Benefit Plan, or, with respect to the Union Employees, as required by the Newnan Union Contract in effect as of the Effective
Date; 
 (vi) except as required by the Newnan Union Contract or any labor or other Contract set forth on the
Seller Disclosure Schedules, (x) enter into any material employment, severance, termination, retention, change in control, sale bonus or other similar agreement or arrangement with any Business Employee or Union Employee, (y) adopt any
material new employee benefit plan or arrangement covering any Business Employees or Union Employees or (z) amend or modify any existing Employee Benefit Plan for the benefit of the Business Employees or Union Employees with respect to each of
(x), (y) or (z), in a manner that would result in a material increase in liability for the Buyer. 
 (vii)
enter into, extend, amend, or renew any material Contract, purchase or supply agreement or commitment or other obligation that would be a Purchased Contract, involving payments in excess of $50,000 in the aggregate and except in the ordinary and
usual course of business consistent with past practice; 
 (viii) (A) make any material change in the
application of any Tax or accounting principles, methods, practices or procedures of the Business, except as required by regulation or applicable Law or by reason of a concurrent change in GAAP, (B) make, change or revoke any material Tax
election with respect to the Business, in each case that would be binding upon Buyer after the Closing Date with respect to any post-closing taxable period, or (C) with respect to the Business settle any claim or assessment for Taxes that will
have a materially adverse consequence on Buyer after the Closing Date with respect to any post-closing taxable period; 
 (ix) enter into or amend any collective bargaining agreement or labor contract of any kind that would be a Purchased Contract; 

  
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 (x) make any capital expenditures or commitments for capital expenditures in
an amount in excess of $50,000 in the aggregate, or fail to make capital expenditures in the amounts and for the purposes set forth in the Business’s current capital expenditures budget; or 

(xi) agree or commit to do any of the foregoing. 
 Section 6.2 Access. Except as may be prohibited by applicable Law, the terms of any contract or confidentiality agreement or as may be required to preserve the confidentiality of any
privileged or otherwise protected information, upon reasonable advance notice, between the Effective Time and the Closing, the Seller shall afford to the Buyer and its counsel, accountants, other representatives and financing sources reasonable
access during normal business hours and subject to the Seller’s safety regulations, as the Buyer may reasonably request, to the plants, offices, warehouses, properties and the books and records of the Seller related exclusively to the Business
and the Purchased Assets; provided, however that the Buyer may not under any circumstances (a) interfere with the Purchased Assets or impede the Seller’s conduct of the Business, or (b) conduct or cause to be conducted
any intrusive or invasive environmental testing at any of the properties of the Seller, including any of the Newnan Facility. The Seller and the Buyer will cooperate with each other in connection with the foregoing provisions of this
Section 6.2 
 Section 6.3 Bulk Sales Laws. Each Party hereby waives compliance by the Parties with the
provisions of the “bulk sales,” “bulk transfer” and similar Laws. 
 Section 6.4 General. Each
of the Parties shall use commercially reasonable efforts to take or cause to be taken all actions and to do or cause to be done, as soon as possible, all things necessary, proper or advisable (subject to any applicable Laws) to consummate the
Closing and the other transactions contemplated by this Agreement, including the negotiation, execution and delivery of any additional instruments necessary to consummate the transactions contemplated by this Agreement or the Ancillary Documents.
Neither of the Parties shall, without prior written consent of the other Party, take or fail to take, or permit its Affiliates to take or fail to take, any action, that would reasonably be expected to prevent or materially impede, interfere with or
delay the consummation, as soon as reasonably possible, of the transactions contemplated by this Agreement or the Ancillary Documents; provided that nothing in this Section 6.4 shall require a Party to cure any breach or inaccuracy with
respect to any representation or warranty contained in this Agreement or any Ancillary Document. 
 Section 6.5 Notices
and Consents. Prior to the Closing Date, each Party shall use its commercially reasonable efforts to give all notices required to be given to, and to obtain all consents of, any third parties (including any Governmental Entity) necessary to
consummate the transactions contemplated by this Agreement. Each Party shall provide to the other copies of any such consents promptly after it has been obtained. 
 Section 6.6 Notice of Developments. Each Party shall give prompt written notice to the other Party of any statement or information contained in such other Party’s representations and
warranties (or Schedules thereto) that is incomplete or inaccurate. During the period between the Effective Date and the Closing, the Seller shall be entitled to update the Seller 

  
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Disclosure Schedules to the extent any representation or warranty contained herein would become untrue or incomplete or inaccurate after the Effective Date due to events or circumstances arising
after the Effective Date that do not arise from a breach of this Agreement, provided that no such update shall be deemed to qualify, amend or otherwise affect any representation or warranty made by Seller in this Agreement or cure any breach of any
representation or warranty made by Seller in this Agreement or otherwise operate as a waiver of or affect any rights of the Buyer under this Agreement except to the extent that, with respect to any such update that is provided no less than three
days prior to the Closing Date and that relates to a matter that would result in the failure of the condition in Section 9.1(a) (and the Seller so acknowledges such failure in the notice providing such update), if Buyer nevertheless
closes the transaction then such update shall be deemed to have modified Seller’s representations and warranties with respect to such matter so disclosed. If the Closing occurs, any such update shall be deemed to have amended the Seller
Disclosure Schedules, to have qualified the relevant representations and warranties contained in Article IV and to have cured any breach of representation or warranty that otherwise might have existed hereunder by reason of such event. 

Section 6.7 Estoppel. During the period between the Effective Date and the Closing, the Seller shall use its commercially
reasonable efforts to obtain a duly executed estoppel certificate, dated as of the Closing Date, substantially in the form attached hereto as Exhibit C. 
 Article VII 
 POST-CLOSING COVENANTS 

The Buyer and the Seller agree to the following with respect to the period following the Closing: 

Section 7.1 General. In the event that at any time after the Closing Date any further action is reasonably necessary to carry
out the purposes of this Agreement, each of the Parties shall use commercially reasonable efforts to take such further action (including the execution and delivery of such further instruments and documents) as the other Party may reasonably request,
at the sole cost and expense of the requesting Party (unless otherwise specified herein). 
 Section 7.2 Post-Closing
Consents; Nonassignable Assets. 
 (a) The Seller and the Buyer each shall use commercially reasonable efforts after the
Closing Date to obtain all consents, approvals or authorizations of any third parties that are not obtained prior to the Closing Date and that are required in connection with the transactions contemplated by this Agreement; provided that neither the
Seller nor the Buyer shall be required to make any material expenditures or incur any liability in connection with any such activities. 
 (b) Notwithstanding anything to the contrary, (i)(A) to the extent that any Purchased Contract or other Purchased Asset is not capable of being transferred by the Seller to the Buyer pursuant to this
Agreement without the consent, approval or authorization of a third party, and such consent, approval or authorization is not obtained prior to the Closing, or (B) if such transfer or attempted transfer would constitute a breach or a violation
of the Purchased Contract or any Law (the third party consent or other approval in respect of a Purchased Contract or other Purchased Asset referred to in each of clauses (A) and (B) hereof, being hereinafter called a

  
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“Specified Consent”), and (ii) a counterparty to such Purchased Contract challenges the assignment or transfer thereof because of the failure to obtain the Specified
Consent, then nothing in this Agreement shall constitute an assignment or transfer or an attempted assignment or transfer thereof. 
 (c) In the event that any such Specified Consent is not obtained on or prior to the Closing Date and the assignment or transfer of the applicable Purchased Contract or other Purchased Asset is challenged
as set forth in Section 7.2(b), the Seller shall use its commercially reasonable efforts to (i) provide to the Buyer the benefits of the applicable Purchased Contract or other Purchased Asset, (ii) cooperate in any reasonable
and lawful arrangement designed to provide such benefits to the Buyer and (iii) enforce at the request and expense of the Buyer and for the account of the Buyer, any rights of the Seller arising from any such Purchased Contract or other
Purchased Asset; provided that the Seller shall not be required to make any unreimbursed expenditures in connection with any such activities described in clauses (i) through (iii) above. 

(d) If the Buyer is provided the benefits of any Purchased Contract pursuant to Section 7.2(c), the Buyer shall perform and
discharge when due the obligations, and assume the liabilities, of the Seller arising under such Purchased Contract, for the benefit of the Seller and the other party or parties thereto, other than obligations and liabilities resulting from the
gross negligence or willful misconduct of the Seller. 
 (e) Once a Specified Consent is obtained, the applicable Purchased
Contract or other Purchased Asset shall be deemed to have been automatically transferred to the Buyer on the terms set forth in this Agreement with respect to the other Purchased Contracts and Purchased Asset transferred and assumed at the Closing,
and without limiting the generality of the foregoing, subject to the limitations set forth in Section 2.2, the applicable obligations and liabilities of the Seller under such Purchased Contracts shall be deemed to be Assumed Liabilities,
and the rights of the Seller under such Purchased Contracts shall be deemed to be Purchased Assets. 
 (f) Notwithstanding
anything to the contrary contained herein, so long as the Seller has complied with its obligations and standard of care set forth in Section 7.2(a), the Buyer agrees that no post-Closing covenant or agreement of the Seller contained
herein shall be breached or deemed breached, and no condition of the Buyer contained herein shall be deemed not to be satisfied (except as expressly set forth in Section 9.1), as a result, directly or indirectly, of the failure to obtain
any consent, approval or authorization. 
 Section 7.3 Litigation Support. In the event and for so long as either
Party is actively contesting or defending against any Action brought by or against a third party in connection with any fact, situation, circumstance, status, condition, activity, practice, plan, occurrence, event, incident, action, failure to act
or transaction involving the Business, the other Party shall reasonably cooperate with the contesting or defending Party and its counsel in the contest or defense, make reasonably available its personnel and provide such access to its non-privileged
books and records as may be reasonably requested in connection with the contest or defense, at the sole cost and expense of the contesting or defending Party (unless such contesting or defending Party is entitled to indemnification therefor under
Article X, in which case, the costs and expenses shall be borne by the Parties in accordance with Article X), provided that neither 

  
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party shall be required to take actions that would materially interfere with the conduct of its business. 
 Section 7.4 Prorations. The Parties agree that any Apportioned Obligations, and any refund, rebate or similar payment received by the Seller or the Buyer for any Taxes that are Apportioned
Obligations, shall be apportioned between the Seller and the Buyer based upon the number of days in the applicable Straddle Period falling before the Closing Date and the number of days in the applicable Straddle Period falling on or after the
Closing Date. The Seller shall be responsible for the amount apportioned to days before the Closing Date and the Buyer shall be responsible for the amount apportioned to days on or after the Closing Date. The Seller shall pay Apportioned Obligations
that are due and payable prior to the Closing Date, and bill the Buyer for any part of that amount apportioned to the Buyer. The Buyer shall pay Apportioned Obligations that are due and payable on or after the Closing Date and bill the Seller for
any part of that amount apportioned to the Seller. The Party so billed shall pay such amount within thirty (30) days of receiving the bill, unless it has a reasonable and good faith defense to the amount billed. Notwithstanding any other
provision contained in this Agreement (including the limitations set forth in Sections 10.2 and 10.3), any obligation arising out of this Section 7.4 shall not be considered a Loss that is subject to the Basket or Cap, or
any survival period or other limit of time. 
 Section 7.5 Tax Matters. 

(a) The Seller and the Buyer shall provide each other with such assistance and non-privileged information relating to the Purchased Assets
as may reasonably be requested in connection with the preparation of any Tax Return or the performance of any audit, examination or any other proceeding by any taxing authority, whether conducted in a judicial or administrative forum. The Seller and
the Buyer shall each retain and provide to the other Party all non-privileged records and other information which may be relevant to any such Tax Return, audit, examination or any other proceeding. Without limiting the generality of the foregoing,
each of the Buyer and the Seller shall retain, for seven years after the Closing, copies of all Tax Returns, supporting work schedules and other records relating to the Purchased Assets. 

(b) The Seller shall, together with the Buyer, exercise joint control over the handling, disposition and settlement of any inquiry,
examination, or proceeding by a Governmental Entity (or that portion of any inquiry, examination or proceeding by a Governmental Entity) that could result in a determination with respect to Taxes for which the Seller is wholly or partially
responsible under Section 2.2(b)(i) or Section 7.4 hereof. The Buyer shall notify the Seller in writing promptly upon learning of any such inquiry, examination or proceeding. The Buyer and its Affiliates shall cooperate with
the Seller, as the Seller may reasonably request, and vice versa, in any such inquiry, examination or proceeding. No Party shall extend, without the other Party’s prior written consent, which consent shall not be unreasonably withheld, the
statute of limitations for any Taxes. 
 (c) If the Buyer or an Affiliate of the Buyer receives a refund with respect to Taxes
for which the Seller or any of its Affiliates are wholly or partially responsible under Section 2.2(b)(i) or Section 7.4 hereof, the Buyer or such Affiliate shall pay, within 30 days following the receipt of such refund, the
amount of such refund attributable to the Seller. If the Seller or an 

  
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Affiliate of the Seller receives a refund with respect to Taxes for which the Buyer is wholly or partially responsible under Section 2.2(a)(vi) or Section 7.4 hereof, the
Seller or such Affiliate shall pay, within 30 days following the receipt of such refund, the amount of such refund attributable to the Buyer. Any payment under this Section 7.5(c) shall be net of any Income Taxes imposed or reasonably
expected to be imposed in respect of any refund resulting in such payment. The Party that received a refund shall determine, in consultation with its accountant and/or tax advisor, whether the refund is, or is reasonably expected to be, subject to
Income Tax and notify the other Party entitled to such refund of its determination and the basis for such determination within 21 days of the receipt of such refund. Appropriate reconciliation payments shall be made within 30 days following the
filing of an Income Tax Return for, and the receipt of any final audit determination relating to, the taxable year in which the purported Income Tax liability related to the refund arose if the Income Tax actually resulting from the receipt of a
refund (as set forth on an Income Tax Return or a final determination) is less than or more than the Income Tax liability assumed in making the payment under this Section 7.5(c). 

(d) Neither Party (nor any Affiliate of such Party) shall agree to settle any Tax liability or compromise any claim with respect to
Taxes, which settlement or compromise may affect the liability for Taxes hereunder (or right to Tax benefit) of the other Party, without the other Party’s prior written consent, which consent shall not be unreasonably withheld, conditioned or
delayed. 
 (e) All Transfer Taxes shall be borne equally by the Buyer and the Seller. The Buyer and the Seller shall jointly
prepare and timely file all tax returns required to be filed in connection with the payment of such taxes. If the Buyer claims an exception or exemption from sales tax in the sale of the Purchased Assets, the Buyer shall provide the Seller with
timely and properly executed sales tax exemption certificates as required by the appropriate state’s laws and regulations. 

(f) The Buyer and the Seller acknowledge and agree that the Buyer constitutes a “successor employer” within the meaning of Code
Section 3121(a)(1) and Code Section 3306(b)(1) and the regulations thereunder with respect to the Transferred Employees. Accordingly, the Buyer agrees to treat all wages paid to the Transferred Employees as paid by a successor employer for
all Income Tax and employment tax purposes. Each Party shall make reasonably available all necessary wage information to the other Party necessary to fulfill the requesting Party’s Income Tax and employment tax obligations with respect to this
Agreement. 
 Section 7.6 Records and Documents. Without limiting the effect of Section 7.5(a), the
Parties shall preserve and keep all books and records (including any in electronic format, but only to the extent preserved in accordance with each Party’s respective retention policy with respect to electronic information) that they own
immediately after the Closing relating to the Business, the Purchased Assets or the Assumed Liabilities for a period of seven years following the Closing Date or for such longer period as may be required by applicable Law. After such retention
period, a Party shall provide at least 60 days prior written notice to the other Party of its intent to dispose of any such books and records, and such other Party shall be given the opportunity, at its cost and expense, to remove and retain all or
any part of such books and records as it may select. During such retention period, duly authorized representatives of a Party shall, upon reasonable notice, have reasonable access during normal business hours to examine,

  
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inspect and copy such books and records held by the other Party; provided that to the extent that disclosing any such information would reasonably be expected to constitute a waiver of
attorney-client, work product or other privilege with respect thereto, the Parties shall take all commercially reasonable action to prevent a waiver of any such privilege, including entering into an appropriate joint defense agreement in connection
with affording access to such information. The access provided pursuant to this Section 7.6 shall be subject to such additional confidentiality provisions as the disclosing Party may reasonably deem necessary and shall not apply in the
case of a dispute between the Parties. 
 Section 7.7 Use of Excluded Names. 

(a) As promptly as practicable following the Closing, but in no event later than 60 days after the Closing Date, except as set forth below
in Section 7.7(b), the Buyer shall cease using the Excluded Names in any form, whether by removing, permanently obliterating, covering or otherwise eliminating all Excluded Names that appear on or in respect of any Purchased Asset,
including all signs, promotional or advertising literature, labels, stationery, business cards, office forms and packaging materials. During such time period, the Buyer may exhaust its inventory of such Purchased Assets in existence as of
immediately prior to the Closing; provided that (i) the Buyer shall not alter any such Purchased Assets (except through ordinary usage, such as writing on stationery) other than with respect to the Excluded Names as required by this
Section 7.7, (ii) the Buyer shall only use such Purchased Assets in the same manner as used by the Business immediately prior to the Closing, and (iii) the Buyer shall not take any action that could detract from or impair the
goodwill associated with such Excluded Names. Neither the Buyer nor any of its Affiliates shall use any Excluded Name, trademark, service mark, brand name, certification mark, trade name, corporate name, domain name or other indication of source or
origin that is likely to cause confusion with any of the Excluded Names or be associated with the Seller or any of its Affiliates after the Closing Date, except as expressly permitted pursuant to this Section 7.7. 

(b) To the extent the Purchased Assets include any molds, tooling, plates or similar items (collectively, “Tooling”)
where the Excluded Names are part of any such Tooling such that they manufacture products with the Excluded Names permanently imprinted on them, the Buyer may continue to use such Tooling for their normal purposes without obliterating, covering or
otherwise eliminating such Excluded Names until the sooner to occur of: (a) the six month anniversary of the Closing, or (b) the date the Buyer ceases to use each such respective item of Tooling. Subject to the foregoing, the Buyer will
replace such Tooling in the ordinary course of business and, when doing so, will remove and eliminate any Excluded Names therefrom. The Buyer will not transfer any such Tooling to any third party without first permanently removing, obliterating,
covering or otherwise eliminating all Excluded Names therefrom. 
 (c) The Buyer will undertake commercially reasonable efforts
to mark the products manufactured by the Business after the Closing Date so that the Parties can identify those products with respect to which they may have indemnification obligations hereunder. 

Section 7.8 Non-Solicitation. 

  
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 (a) The Buyer agrees that, for a period of two years from the Closing Date, neither Buyer
nor any of its Affiliates will, directly or indirectly, solicit to hire or hire (or cause or seek to cause to leave the employ of the Seller or its Affiliates): (i) any management-level employee of the Seller or its Affiliates; or (ii) any
other employee of the Seller or its Affiliates with whom the Buyer or its Affiliates has had contact or who (or whose performance) became known to the Buyer or its Affiliates in connection with this Agreement; provided, however, that the foregoing
provision will not prevent the Buyer or any of its Affiliates from hiring any such employee (A) who contacts the Buyer or any of its Affiliates in response to a bona fide public advertisement for employment place by the Buyer or any of its
Affiliates and not specifically targeted at the Seller’s (or its Affiliates’) employees, (B) who has been terminated by the Seller (or its Affiliates) or (C) who has not been employed by the Seller (or its Affiliates) during the
twelve months preceding any such action by the Buyer or its Affiliates. 
 (b) The Seller agrees that, for a period of two years
from the Closing Date, neither Seller nor any of its Affiliates will, directly or indirectly, solicit to hire or hire (or cause or seek to cause to leave the employ of the Buyer or its Affiliates): (i) any management-level employee of the Buyer
or its Affiliates; or (ii) any other employee of the Buyer or its Affiliates with whom the Seller or its Affiliates has had contact or who (or whose performance) became known to the Seller or its Affiliates in connection with this Agreement;
provided, however, that the foregoing provision will not prevent the Seller or any of its Affiliates from hiring any such employee (A) who contacts the Seller or any of its Affiliates in response to a bona fide public advertisement for
employment place by the Seller or any of its Affiliates and not specifically targeted at the Buyer’s (or its Affiliates’) employees, (B) who has been terminated by the Buyer (or its Affiliates) or (C) who has not been employed by
the Buyer (or its Affiliates) during the twelve months preceding any such action by the Seller or its Affiliates. 

Section 7.9 Non-Competition. 
 (a) For a period of two (2) years after the Closing, neither the Seller nor Ball Corporation nor any of its controlled Affiliates shall, directly or indirectly, engage in any business that competes
with the Business in the United States, Mexico or Canada (a “Prohibited Business”); provided, however, nothing in this Section 7.9 shall prohibit or prevent the Seller, Ball Corporation or any of its controlled
Affiliates from: 
 (i) owning or acquiring up to an aggregate of 25% of the ownership interest of any entity
engaged in any Prohibited Business or making passive investments in the ordinary course of business in investment funds that make investments in entities engaged in any Prohibited Business, provided that, in either case, none of such Persons is
active in the management or governance of such entity; or 
 (ii) owning or operating any Prohibited Business if
such Prohibited Business was acquired as a result of a merger or other acquisition and the Prohibited Business so acquired engages in the manufacture of rigid injection molded open head and screw-top pails, drums and similar containers from no more
than one facility; provided, however, that Seller, Ball Corporation or any of its controlled Affiliates may acquire any entity or business which, as part of its operations, engages in any Prohibited Business that is not in compliance
with the foregoing provisions of this Section 7.9(a)(ii) so long as (x) the 

  
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revenue generated by any Prohibited Business of such acquired entity or business for the preceding fiscal year do not account for more than 50% of the total revenues of such entity or business
for such period; and (y) no later than 12 months after such acquisition, the applicable acquiring Person shall have entered into an agreement providing for a divestiture of any Prohibited Business so acquired following the closing of which the
activities of the Prohibited Business of the entity or business so acquired will once again be in compliance with the provisions of this Section 7.9(a)(ii). 
 (b) In the event, at any time after the Effective Date and prior to the second anniversary of the Closing, that Seller, Ball Corporation or any of its controlled Affiliates is acquired by any Person who
is not an Affiliate of the acquired Person as of the Effective Date, including by way of merger, consolidation, share exchange, asset acquisition or similar transaction (including without limitation a merger of Ball Corporation with another Person
where the common stockholders of Ball Corporation immediately prior to such merger do not own more than 50% of the common stock of the surviving entity in such merger or the controlling Person thereof), then none of (i) the acquiring Person,
(ii) any controlling Person thereof and (iii) any Persons that are Affiliates of such acquiring Person or any such controlling Person immediately prior to completion of such acquisition shall be bound by the covenants contained in
Section 7.9(a) from and after the completion of such acquisition. 
 Section 7.10 Insurance. Without
limiting the rights of the Buyer elsewhere in this Agreement, if (i) any Losses in excess of $2 million (i.e., the existing retention/deductible limits in the Seller’s insurance policies) occur between the Effective Date and the Closing
Date that relate to the fixed assets or leasehold improvements of the Business (other than in respect of Excluded Assets), and claims with respect to such Losses may be made against third-party insurance policies retained by the Seller or its
Affiliates in excess of the retention/deductible limits thereof, then the Seller shall use its commercially reasonable efforts to file, provide notices regarding such claims, and otherwise continue to pursue such claims on behalf of the Buyer or its
Affiliates under the terms of such policies. The Seller agrees to promptly pay over to the Buyer (in the event the proceeds are not paid directly to any third party) any amounts, or assign any benefits, that the Seller or its Affiliates may receive
under such insurance policies with respect any such Losses. The Seller further agrees to otherwise cooperate with the Buyer and its Affiliates to the extent commercially reasonable to make the benefits of any third-party insurance policies available
to the Buyer and its Affiliates in accordance with this Section 7.10. 
 Section 7.11 Physical
Inventory. A physical inspection and full count of the Inventory will be performed by the Buyer on a date and at a time mutually agreed by the Buyer and the Seller (but in any event no later than three business days following the Closing). The
Seller shall designate one or more Persons to witness the inspection and count of the Inventory and to take additional test counts as the Seller reasonably deems appropriate. Such physical inspection and full count of the Inventory shall be
conducted using the historical procedures and practices of the Seller regarding the inclusion or exclusion of items from inventory. The Buyer will prepare a report listing the type and quantity of the Inventory verified through such physical
inspection and count, and the location of same, and a copy thereof shall be delivered to the Seller no more than three business days following the completion of the inspection. 

  
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 Article VIII 
 EMPLOYEE MATTERS 
 Section 8.1 Employment. 

(a) The Buyer shall, or shall cause one of its Affiliates to, offer employment, on the terms set forth in this Article VIII, to all of the
Business Employees and the Union Employees, subject to the last sentence of this Section 8.1(a), including employees who are (i) actively at work, (ii) on long-term disability, short-term disability or workers’ compensation or
(iii) on a leave of absence, whether paid or unpaid, approved by the Seller or otherwise permitted by applicable Law, which offer shall be effective as of the Closing Date, or if later, when such employees commence employment with the Buyer or
any of its Affiliates. Those Business Employees who accept such offers of employment and commence employment with the Buyer or any of its Affiliates shall be referred to as the “Transferred Business Employees.” and the Union
Employees who accept such offers of employment and commence employment with the Buyer or any of its Affiliates shall be referred to as the “Transferred Union Employees” (collectively, the “Transferred Employees”).
Any Business Employee or Union Employee who accepts the Buyer’s (or its Affiliate’s) offer of employment and who is described in clause (ii) or (iii) above as of immediately prior to the Closing shall continue to be employed by
the Seller or one of its Affiliates; provided that, if a Business Employee or Union Employee returns to active employment, so long as such Business Employee or Union Employee returns to active employment (I) in the case of a Business Employee,
within ninety (90) days of the Closing Date or, if longer, within the time period required by applicable Law and (II) in the case of a Union Employee, so long as such Union Employee returns to active employment within the time period specified
within the Newnan Union Contract or, if longer, within the time period required by applicable Law, the Buyer (or its applicable Affiliate) shall offer employment to such Business Employee or Union Employee at such time. 

(b) Commencing on the Closing Date and continuing for twelve (12) consecutive months thereafter, the Buyer shall, or shall cause one
or more of its Affiliates to, provide each Transferred Business Employee with base salary or base wages, severance benefits and all other compensation and employee benefits that are substantially comparable in the aggregate to those that are
provided to similarly situated employees of the Buyer as of the Closing Date. Notwithstanding anything in this Section 8.1(b) to the contrary, nothing in this Agreement shall, after the Closing Date, impose on the Buyer any obligation to
retain any Transferred Employee in its employment and nothing in this Agreement other than the conditions set forth in Section 8.2(b) or the 12 month severance obligation described in Section 8.2(c), shall prevent the Buyer
from amending, modifying or terminating any of its employee benefit plans or arrangements following the Closing. 

Section 8.2 Employee Benefit Matters. 
 (a) Except as provided in this Section 8.2, as of the Closing Date or, if later, at such time as a Transferred Employee commences employment with the Buyer or its Affiliates, each such
Transferred Employee shall cease to be an active participant under the Employee Benefit Plans in accordance with the terms of such plans. As of the Closing Date, the Transferred Employees shall be entitled to participate in the employee benefit
plans and arrangements 

  
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maintained by the Buyer or its Affiliates. Effective as of the Closing Date, the Buyer shall provide, or cause to be provided, health, life insurance, and accident, group insurance benefits and
short-term and long-term disability benefits to all Transferred Business Employees and, to the extent applicable, their respective eligible dependents, in plans otherwise maintained by the Buyer, or for the benefit of the Buyer, subject to any
applicable employee cost. 
 (b) Solely for purposes of eligibility and vesting and for the calculation of severance and
vacation benefits and accruals (but not for determination of any other benefits) under the employee benefit or compensation plans, programs, policies, agreements and arrangements maintained by the Buyer and its Affiliate, the Buyer shall cause each
Transferred Employee to be fully credited with his or her respective periods of service with the Seller (and any of its Affiliates or any predecessor entities thereof) before the Closing Date, to the same extent as such Transferred Employee was
entitled, immediately prior to the Closing Date, to credit for such service under any similar Employee Benefit Plan; provided, however, that in no event shall such credit result in the duplication of benefits. In addition, the Buyer shall waive, or
shall cause to be waived, any limitations or waiting periods as to pre-existing conditions, restrictions or exclusions for Transferred Employees under the Buyer’s employee benefit plans providing for health, medical, dental, vision and other
similar benefits to the extent such condition for such Transferred Employee is covered under the Employee Benefit Plans and shall credit the Transferred Employees for any customary co-payments, deductibles, out of pocket maximums and the like, paid
by them prior to the date of commencement of participation during the year in which such commencement occurs in satisfying any applicable co-payment, deductible, out-of-pocket or similar requirements. 

(c) Effective as of the Closing Date and continuing for twelve (12) months thereafter, (i) each Transferred Business Employee
shall be covered by the Buyer’s then applicable severance benefits with full recognition of the respective periods of service with the Seller, the Buyer and their respective Affiliates, which severance benefits shall be no less favorable than
the severance benefits described in Schedule 8.2(c)(i) and (ii) Buyer shall assume and honor (except as set forth in Section 2.2(b)(v)), the severance and retention benefits under those certain agreements set forth in
Schedule 8.2(c)(ii). 
 (d) As of the Closing Date and subject to Revenue Ruling 2002-32, the Seller shall cause the
portion of its flexible reimbursement plan applicable to the Transferred Employees to be segregated into a separate component, and all account balances and salary reduction elections of such Transferred Employees in the Seller’s flexible
reimbursement plan shall be transferred to a flexible reimbursement plan that the Buyer shall cause to be maintained for the duration of the calendar year in which the Closing Date occurs and shall administer such plan in accordance with its terms
and applicable Law. 
 (e) The Seller shall retain as Excluded Liabilities all liabilities and obligations for all
post-retirement medical and life insurance liabilities payable under the terms of the Seller’s post-retirement plans for former employees receiving post-retirement medical and life insurance benefits prior to the Closing Date. 

(f) (i) Following the Closing, the Seller and its Affiliates shall retain and be responsible for, as Excluded Liabilities (and shall
indemnify and hold harmless the Buyer and its 

  
 41 

 
Affiliates from and against) any and all liabilities and obligations (x) under the Employee Benefit Plans, regardless of whether such plan is disclosed in the Seller Disclosure Schedules,
including for any severance, retention, transaction or other similar payments that may become payable under any Employee Benefit Plan in connection with the consummation of the transactions contemplated hereby (either alone or in combination with
any other event) and (y) any and all other liabilities and obligations relating to the compensation and employee benefits of (1) the Employees, whenever arising or occurring; (2) the Business Employees who do not become Transferred
Business Employees, whenever arising or occurring; (3) the Union Employees who do not become Transferred Union Employees, whenever arising or occurring; and (4) subject to any and all provisions to the contrary in this Article VIII,
the Transferred Employees to the extent arising or occurring prior to the Closing. 
 (ii) From and following the Closing, the
Buyer and its Affiliates shall retain and be responsible for, as Assumed Liabilities (and shall indemnify and hold harmless the Seller and its Affiliates from and against) any and all liabilities and obligations, (x) with respect to Transferred
Employees from and following the Closing for any employee pension, welfare, fringe or incentive compensation, severance, retention, transaction or other similar payments that may become payable from or following the Closing under any employee
benefit plan, program, agreement or arrangement of the Buyer or any of its Affiliates, including in connection with the consummation of the transactions contemplated hereby (either alone or in combination with any other event) whenever arising or
occurring and (y) any and all liabilities and obligations assumed by the Buyer or its Affiliates pursuant to this Article VIII. 
 (g) Subject to any necessary consent from the union, and the limitations set forth in Section 2.2, effective as of the Closing Date: 

(i) Commencing on the Closing Date, the Buyer shall, or shall cause one of its Affiliates to, provide Transferred Union
Employees with compensation and employee benefits as provided under the Newnan Union Contract as in effect from time to time; provided, however, that (i) the Buyer shall not be required to offer an employee stock purchase plan, and with respect
to the obligations to provide insurance and retirement benefits pursuant to Sections 13 and 14 of the Newnan Union Contract, the Buyer shall, or shall cause one of its Affiliates to, provide Transferred Union Employees with the same level of
benefits pursuant to employee benefit plans and arrangements maintained by the Buyer or its Affiliates and (ii) Seller shall remain liable as an Excluded Liability for a pro rata portion of the 3% annual contribution payable under section 14.2
of such Contract with respect to periods prior to the Closing Date; and 
 (ii) To the extent Buyer or its
Affiliate is not able to provide a group health plan for the Transferred Union Employees as required under Section 13 of the Newnan Union Contract as of the Closing Date, subject to any necessary consent from the union, Seller shall offer each
Transferred Union Employee coverage under 4980B of the Code with respect to Seller’s group health plan covering such employees for up to sixty (60) days and, to the extent agreed to by the union and elected by the Transferred Union
Employee, Buyer shall pay COBRA premiums directly to Seller (and withhold from the Transferred Union Employees the otherwise applicable employee costs for such group 

  
 42 

 
health plan as such costs for current employee coverage may be governed by Newnan Union Contract). 
 Section 8.3 Defined Contribution Plans. As of the Closing Date, or, if later, at such time as a Transferred Employee commences employment with the Buyer or its Affiliates, with respect to any
Defined Contribution Plan of the Seller maintained by or for the benefit of any of the Transferred Employees, the Transferred Employees shall cease to participate in such Defined Contribution Plan. The Seller shall or shall cause its Affiliates to
amend any such Defined Contribution Plan to fully vest Transferred Employees immediately prior to the Closing Date in their benefits under such Defined Contribution Plan. As of the Closing Date or as soon as practicable thereafter, each Transferred
Employee shall be permitted to elect a distribution (in accordance with the terms of the Defined Contribution Plan) of his or her account balance in the Defined Contribution Plan of the Seller and also shall be permitted (in accordance with the
terms of the Defined Contribution Plan) to roll over his or her account balances in such plan to the Defined Contribution Plan of the Buyer, including the ability to roll over any existing loans under the Seller’s Defined Contribution Plan, for
30 days after the Closing Date. The Seller and the Buyer shall take all actions necessary or appropriate, and shall cooperate with each other to accomplish and facilitate the foregoing, and, from and following the Closing Date, the Buyer shall be
solely responsible for obtaining any employees’ elections with respect to the Buyer’s Defined Contribution Plan, to the extent not obtained prior to the Closing Date, regarding the roll over of account balances, including loans.

 Section 8.4 Defined Benefit Plans. As of the Closing Date, or, if later, at such time as a Transferred Employee
commences employment with the Buyer or its Affiliates, the Transferred Business Employees shall be considered terminated participants under any Defined Benefit Plan maintained by the Seller in which such Transferred Business Employees participated
prior to the Closing Date and shall cease to accrue benefits thereunder. The Seller shall retain, and neither the Buyer nor any of its Affiliates shall be responsible for any liability or obligation under any Defined Benefit Pension Plan maintained
by the Seller in which the Transferred Business Employees participated prior to the Closing Date. 
 Section 8.5
Compliance with WARN. With respect to the Transferred Employees, the Buyer shall have full responsibility under the Worker Adjustment and Retraining Notification Act of 1988, as amended (WARN), and any other similar statutes or regulations of
any jurisdiction relating to any plant closing or mass layoff occurring on or after the Closing Date. 
 Section 8.6
Workers’ Compensation Claims. The Seller shall be responsible for and shall pay any and all workers’ compensation and other similar statutory claims asserted by or with respect to the Transferred Employees before the Closing Date with
respect to any injury or other compensable event or occupational illness or disease that occurred or is attributable to any event, state of facts or condition that existed or occurred in whole before the Closing Date. The Buyer shall be responsible
for and shall pay any and all workers’ compensation and other similar statutory claims asserted by or with respect to any Transferred Employees any injury or other compensable event or occupational illness or disease that occurred or is
attributable to any event, state of facts or condition that existed or occurred in whole on or after the Closing Date. If the liabilities for any claims for injuries or other compensable events or occupational illnesses or diseases of any
Transferred Employee who was employed by the Seller before the Closing Date 

  
 43 

 
and was employed by the Buyer or an Affiliate on or after the Closing Date is attributable in part to causes occurring before the Closing Date and in part to causes occurring on or subsequent to
the Closing Date and is the basis of a workers’ compensation or other similar statutory claim, the liability for any such claims shall be shared by the Seller and the Buyer in the proportion of the period of employment of such Transferred
Employee with the Seller and the period of employment with Buyer or any of its Affiliates. In the event that one party hereto is required by an applicable state workers’ compensation law to pay workers’ compensation otherwise allocated to
the other party pursuant to this Section 8.6, the party obligated to pay such amount pursuant to this Section shall reimburse the paying party. 
 Section 8.7 Incentive Compensation Payments. The Seller shall make pro-rata incentive compensation payments pursuant to The Economic Value Added Incentive Compensation Plan (the
“Seller IC Plans”) for the 2009 incentive compensation period prior to the Closing Date to the Transferred Employees who are participants in such Seller IC Plans as of the Closing Date. The incentive compensation payment for each
such Transferred Employee shall be determined at target and in accordance with the formula set forth in, and other terms of, such Seller IC Plans, as in effect on the Effective Date and shall be pro-rated by multiplying each such incentive
compensation payment by a fraction the numerator of which is the number of days from the beginning of the applicable incentive compensation period to the Closing Date and the denominator of which is the number of days in the applicable incentive
compensation period. The Seller shall retain, and neither the Buyer nor any of its Affiliates shall be responsible for, any liability or obligation for any payments that are or become due to Transferred Employees under the Seller IC Plans.

 Section 8.8 Accrued Vacation. The Seller shall timely advise the Buyer of the amount of accrued and unused
vacation time as of the Closing Date for each Transferred Business Employee. The Buyer shall permit each Transferred Business Employee to take vacation days for the amounts of accrued but unused vacation as of the Closing Date by December 31,
2010 consistent with the policy in effect immediately prior to the Closing, including and subject to the 50% limitation on carryovers, and in accordance with the business needs of the Buyer. 

Article IX 

CLOSING CONDITIONS 
 Section 9.1 Conditions to Obligations of the Buyer. The obligations of the Buyer to effect the Closing and consummate the transactions contemplated by this Agreement are subject to
satisfaction (or waiver by the Buyer in its sole discretion) on or prior to the Closing Date of the following conditions: 
 (a)
the representations and warranties of the Seller set forth in Article IV or in any Ancillary Document and in any certificate or other writing delivered pursuant hereto (i) that are qualified by materiality or material adverse effect
shall be true and correct in all respects or (ii) that are not qualified by materiality or material adverse effect shall be true and correct in all material respects, in each case at and as of the Effective Date and as of the Closing Date with
the same effect as though made at and as of the Closing Date (except to the extent expressly made as of another date, in which case as of such date); 

  
 44 

 (b) the Seller shall have performed or complied with, in all material respects, its
covenants and agreements hereunder that are required to be performed or complied with on or prior to the Closing Date; 
 (c)
the Seller shall have delivered to the Buyer a certificate executed as of the Closing Date by an executive officer of the Seller to the effect that the conditions set forth in Sections 9.1(a) and (b) are fully satisfied;

 (d) there shall not be any judgment, order, decree, stipulation, injunction or charge issued by any court of competent
jurisdiction or any other Governmental Entity in effect preventing consummation of the transactions contemplated by this Agreement; 
 (e) the Seller shall, or shall have caused the discharge of (including filing of appropriate termination statements), of all Liens set forth on Schedule 9.1(e); 

(f) the union party to the Newnan Union Contract shall have consented to the assumption of the Newnan Union Contract and shall have
consented to the amendment of such Contract in a manner to enable Buyer to assume and discharge the obligations thereunder from and after the Closing, including replacement of retirement and welfare benefits as provided in Section 8.2
and the elimination of any requirement to provide an employee stock purchase plan to union employees; 
 (g) the Seller
shall have delivered to the Buyer: 
 (i) a duly executed counterpart of a bill of sale and assignment and
assumption agreement, with respect to certain assets and liabilities of the Seller, in substantially the form attached hereto as Exhibit B (the “Bill of Sale and Assignment and Assumption Agreement”); provided, however, that
in connection with the assignment and assumption of the Real Property Leases, the Parties shall execute separate assignment and assumption documents (the “Lease Assignment and Assumption”) consistent with the terms of this Agreement
and the Bill of Sale and Assignment and Assumption Agreement (as that document relates to the assignment of the Real Property Leases) if such separate Lease Assignment and Assumption must be delivered to a landlord under the Real Property Lease;

 (ii) a consent to the assignment of the Real Property Lease from the landlord thereunder in a form reasonably
acceptable to the Buyer; 
 (iii) a duly executed counterpart of an assignment of trademarks in substantially the
form attached hereto as Exhibit C (the “Assignment of Trademarks”); 
 (iv) a duly
executed counterpart of an assignment of patents in substantially the form attached hereto as Exhibit D (the “Assignment of Patents”); and 

(v) a duly executed counterpart of a transition administrative services agreement in or substantially in the form attached
hereto as Exhibit F (the “Transition Administrative Services Agreement”); and 

  
 45 

 (vi) a certificate from the Seller (in form and substance reasonably
acceptable to the Buyer) certifying the Seller’s non-foreign status in accordance with Section 1445 of the Code and the regulations promulgated thereunder. 
 Section 9.2 Conditions to Obligations of the Seller. The obligations of the Seller to effect the Closing and consummate the transactions contemplated by this Agreement is subject to
satisfaction (or waiver by the Seller in its sole discretion) on or prior to the Closing Date of the following conditions: 

(a) The representations and warranties of the Buyer set forth in Article V or in any Ancillary Document and in any certificate or
other writing delivered pursuant hereto shall be true and correct in all material respects, in each case at and as of the Effective Date and as of the Closing Date with the same effect as though made at and as of the Closing Date (except to the
extent expressly made as of another date, in which case as of such date). 
 (b) the Buyer shall have performed or complied
with, in all material respects, all of its covenants and agreements hereunder that are required to be performed or complied with on or prior to the Closing Date; 
 (c) the Buyer shall have delivered to the Seller a certificate executed as of the Closing Date by an executive officer of the Buyer to the effect that each of the conditions specified in Sections
9.2(a) and (b) above is fully satisfied; 
 (d) subject to the terms set forth in Sections 2.2 and the
satisfaction of the condition set forth in Section 9.1(f), the Buyer shall have assumed the Purchased Contracts (including the Newnan Union Contract with respect to the Transferred Union Employees); 

(e) there shall not be any judgment, order, decree, stipulation, injunction or charge in effect preventing consummation of the
transactions contemplated by this Agreement; and 
 (f) the Buyer shall have delivered to the Seller: 

(i) the Purchase Price by wire transfer of immediately available funds to the account or accounts designated by the
Seller; 
 (ii) a duly executed counterpart of the Bill of Sale and Assignment and Assumption Agreement and a
separate Lease Assignment and Assumption if such separate Lease Assignment and Assumption must be delivered by the Seller to a landlord in accordance with Section 9.2(f)(ii); 

(iii) a duly executed counterpart of the Assignment of Trademarks; 

(iv) a duly executed counterpart of the Assignment of Patents; 

(v) a duly executed counterpart of the Transition Administrative Services Agreement; and 

(vi) applicable sales tax exemption certificate(s). 

  
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 Article X 
 REMEDIES 
 Section 10.1 Survival. The representations and
warranties of the Parties contained in this Agreement and in the Ancillary Documents shall survive until the one-year anniversary of the Closing Date. The covenants or agreements of the Parties contained in this Agreement and the Ancillary Documents
shall survive the Closing indefinitely, except that those covenants and agreements which by their express terms are to be performed or observed for specified periods shall survive until the expiration of such specified period. Notwithstanding
anything to the contrary, no claim may be made with respect to any representations or warranties under this Agreement or any Ancillary Document after the expiration of the applicable survival period set forth in this Section 10.1;
provided, however, that any claim in respect of which notice has been given hereunder prior to the expiration of the applicable survival period shall survive until such claim is finally resolved. 

Section 10.2 Indemnification by the Seller. 
 (a) Subject to the terms and conditions of this Article X, from and after the Closing, the Seller agrees to reimburse, indemnify and hold harmless the Buyer, its directors, officers, employees,
agents, representatives and its present and future Affiliates (each, a “Buyer Indemnified Party”) from, against and in respect of any and all Losses incurred by any Buyer Indemnified Party resulting from, or that exist or arise due
to, any of the following (collectively, “Buyer Claims”): 
 (i) prior to their expiration in
accordance with Section 10.1, any inaccuracy of any representation or the breach of any warranty when made or deemed made by the Seller in this Agreement; 

(ii) the breach or default in performance of any covenant or agreement of the Seller pursuant to this Agreement or any
Ancillary Document; 
 (iii) the Excluded Liabilities; and 

(iv) any non-compliance with bulk transfer or similar law, notwithstanding the acknowledgement contained in
Section 6.3. 
 (b) Notwithstanding any other provision of this Agreement, including Section 10.2(a),
the obligations of the Seller pursuant to Section 10.2(a)(i) shall: (i) not apply to any Buyer Claims until, and then only to the extent that, the Losses incurred by all Buyer Indemnified Parties exceed $500,000 (the
“Basket”); (ii) not apply to any individual Buyer Claim with respect to which the Losses incurred by the Buyer Indemnified Party (excluding any attorneys’ fees relating to such Losses) are less than $25,000; and
(iii) be limited to, and shall not in any event exceed, the aggregate cumulative amount of $5,000,000 (the “Cap”). 
 (c) For purposes of this Article X, any inaccuracy in or breach of any representation or warranty shall be determined (other than determinations relating to Sections 4.3, 4.6, 4.9(d), the
first sentence of Section 4.13, 4.18(a) and 4.19(a)) without regard to any materiality, “material adverse effect” or similar qualification, and without regard to any qualification or

  
 47 

 
requirement that a matter be or not be “reasonably expected” to occur, contained in or otherwise applicable to such representation or warranty. 

Section 10.3 Indemnification by the Buyer. 
 (a) Subject to the terms and conditions of this Article X, and without limiting any representations and warranties of the Seller herein, from and after the Closing, the Buyer agrees to reimburse,
indemnify and hold harmless the Seller, and their directors, officers, employees, agents, representatives and their present and future Affiliates (each, a “Seller Indemnified Party”) from, against and in respect of any and all
Losses incurred by any Seller Indemnified Party resulting from, or that exist or arise due to, any of the following (collectively, “Seller Claims,” and together with Buyer Claims, “Claims”): 

(i) prior to their expiration in accordance with Section 10.1, any inaccuracy of any representation or the
breach of any warranty when made or deemed made by the Buyer in this Agreement or in any Ancillary Document; 

(ii) the breach or default in performance of any covenant or agreement of the Buyer pursuant to this Agreement;

 (iii) the Assumed Liabilities; and 

(iv) any use of the Excluded Names pursuant to Section 7.7(b). 

(b) Notwithstanding any other provision of this Agreement, including Section 10.3(a), the obligations of the Buyer pursuant
to Section 10.3(a)(i) shall: (i) not apply to any Seller Claims until, and then only to the extent that, the Losses incurred by all Seller Indemnified Parties exceed the Basket; (ii) be limited to, and shall not exceed,
the Cap; and (iii) shall not apply to any individual Seller Claim with respect to which the Losses incurred by the Seller Indemnified Party (excluding any attorneys’ fees relating to such Losses) are less than $25,000. 

Section 10.4 Procedures for Indemnification. 
 (a) No Party shall be liable for any Claim for indemnification under this Article X unless written notice of a Claim for indemnification is delivered by the party seeking indemnification (the
“Indemnified Party”) to the Party from whom indemnification is sought (the “Indemnifying Party”) prior to the expiration of the applicable survival period, if any, set forth in this Article X. If any third
party notifies the Indemnified Party with respect to any matter which may give rise to a Claim for indemnification (a “Third Party Claim”) against the Indemnifying Party under this Article X, then the Indemnified Party shall
promptly notify the Indemnifying Party promptly thereof in writing after receiving notice from a third party; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from
any obligation hereunder except to the extent the Indemnifying Party is prejudiced thereby. All notices given pursuant to this Section 10.4 relating to a Third Party Claim shall describe with reasonable specificity such Third Party Claim
and the basis of the Indemnified Party’s Claim for indemnification. Upon the Indemnified Party giving notice of the Third Party Claim to the Indemnifying Party, the Indemnifying Party shall be entitled to

  
 48 

 
participate therein and, to the extent desired, to assume the defense thereof with counsel of its choice (at the expense of such Indemnifying Party); provided that counsel for the Indemnifying
Party who shall conduct the defense of such Third Party Claim shall be reasonably satisfactory to the Indemnified Party. If the Indemnifying Party provides the Indemnified Party with notice of its determination to assume the defense of such Third
Party Claim, the Indemnified Party may nevertheless participate in (but not control) such defense, but the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party
in connection with the defense of the Third Party Claim, other than reasonable costs of investigation, unless (i) the Indemnifying Party does not actually assume the defense thereof following notice of such election or (ii) the named
parties to such Third Party Claim include both the Indemnifying Party and the Indemnified Party and the Indemnified Party determines in good faith, based on advice of counsel, that the Indemnified Party has available to it one or more defenses that
are unavailable to the Indemnifying Party. If the Indemnifying Party does not assume the defense of such Third Party Claim, the Indemnified Party shall have the right (i) to undertake the defense of such Third Party Claim, by counsel or other
representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party (subject to the limitations on the Indemnifying Party’s obligations to indemnify as set forth in this Article X) and (ii) to
settle or agree to pay in full such Third Party Claim without the consent of the Indemnifying Party without prejudice to the ability of the Indemnified Party to enforce its claim for indemnification against the Indemnifying Party hereunder.

 (b) Neither the Indemnified Party nor the Indemnifying Party shall, without the prior written consent of the other party
(which shall not be unreasonably withheld), consent to a settlement, compromise or discharge of, or the entry of any judgment arising from, any Third Party Claim; provided that the Indemnifying Party may settle, compromise or discharge any Third
Party Claim the defense of which was assumed by the Indemnifying Party if such settlement, compromise or discharge does not involve any finding or admission of any violation of Law or admission of any wrongdoing by the Indemnified Party or grant any
relief other than the payment of money damages. 
 Section 10.5 Certain Limitations. 

(a) NOTWITHSTANDING ANY OTHER PROVISION HEREIN, AN INDEMNIFYING PARTY SHALL NOT BE LIABLE UNDER THIS ARTICLE X IN RESPECT OF ANY CLAIM FOR
INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING CONSEQUENTIAL DAMAGES RESULTING FROM BUSINESS INTERRUPTION OR LOST PROFITS, EXCEPT TO THE EXTENT SUCH DAMAGES ARE PAYABLE TO A THIRD PARTY AND PROVIDED THAT THE FOREGOING
LIMITATION SHALL NOT BE INTERPRETED TO PRECLUDE RECOVERY BASED UPON ANY DIMINUTION IN THE VALUE OF THE PURCHASED ASSETS UPON A BREACH OF A REPRESENTATION, WARRANTY OR COVENANT OR THIS AGREEMENT. 

(b) The obligations of the Indemnifying Party to provide indemnification under this Article X shall be terminated, modified or
abated as appropriate to the extent that the underlying Claim is based, in whole or in part, on the bad faith or willful misconduct of the Indemnified Party, 

  
 49 

 Section 10.6 Certain Benefits. The amount of any indemnification payable under
this Article X shall be net of any insurance proceeds paid to the Indemnified Party under any policies of insurance covering the Loss giving rise to the Claim. The Indemnified Party shall use commercially reasonable efforts to collect any
such insurance and shall account to the Indemnifying Party therefor. If, at any time subsequent to the Indemnified Party receiving an indemnity payment for a Claim under this Article X, the Indemnified Party receives payment in respect of the
Loss underlying such Claim through recovery, settlement or otherwise under or pursuant to any insurance coverage, or pursuant to any claim, recovery, settlement or payment by or against another Person, the amount of such payment, less any costs,
expenses or premiums incurred directly in connection therewith, shall promptly be repaid by the Indemnified Party to the Indemnifying Party. 
 Section 10.7 Treatment of Indemnity Payments. All indemnification payments (including any adjustments thereto) made pursuant to this Agreement shall be treated by the Parties as adjustments to
the Purchase Price. 
 Section 10.8 Exclusive Remedy. Other than as set forth in Section 12.6, from and
after the Closing, the remedies provided in this Article X and/or in Section 7.4 shall be the sole and exclusive remedies of the Parties (and all Indemnified Parties) for all disputes arising out of or relating to this Agreement,
and shall supersede and replace all other rights and remedies that any of the Parties may have under any Law other than in the case of fraud or willful misconduct. 
 Section 10.9 Mitigation. Each Party agrees to use commercially reasonable efforts to mitigate any Loss which forms the basis of a Claim hereunder, provided that any costs reasonably incurred
in connection therewith shall constitute indemnifiable Losses hereunder . 
 Article XI 

TERMINATION 
 Section 11.1 Termination of Agreement. The Parties may terminate this Agreement as provided below: 
 (a) the Seller and the Buyer may terminate this Agreement by mutual written consent at any time prior to the Closing; 
 (b) either the Seller or the Buyer may terminate this Agreement by giving written notice to the other Party, if (i) there shall be any Law that makes consummation of the Closing illegal or otherwise
prohibited or (ii) any judgment, injunction, order or decree of any Governmental Entity having competent jurisdiction enjoining the Buyer or the Seller from consummating the Closing is entered and such judgment, injunction, order or decree
shall have become final and nonappealable; 
 (c) the Buyer may terminate this Agreement by giving written notice to the Seller
at any time after November 30, 2009 if the Closing has not occurred on or before November 30, 2009 by reason of the failure of any condition set forth in Section 9.1 to have been satisfied; provided that the right of the Buyer
to terminate this Agreement under this Section 11.1(c) shall not be available if the Buyer has breached in any material respect any of its obligations under 

  
 50 

 
this Agreement in a manner that has contributed to the failure to consummate the Closing at or before such time; or 
 (d) the Seller may terminate this Agreement by giving written notice to the Buyer at any time after November 30, 2009, if the Closing has not occurred on or before November 30, 2009 by reason of
the failure of any condition set forth in Section 9.2 to have been satisfied; provided that the right of the Seller to terminate this Agreement under this Section 11.1(d) shall not be available if the Seller has breached in
any material respect its obligations under this Agreement in a manner that has contributed to the failure to consummate the Closing at or before such time. 
 Section 11.2 Effect of Termination. If any Party terminates this Agreement pursuant to Section 11.1, all obligations and liabilities of the Parties hereunder shall terminate and
become void; provided (i) nothing herein shall relieve any Party from liability for any breach of any representation, warranty, covenant or agreement in this Agreement prior to the date of termination, and (ii) the Confidentiality
Agreement, Article I, this Article XI, and Article XII shall remain in full force and effect and survive any termination of this Agreement. 
 Article XII 
 MISCELLANEOUS 

Section 12.1 Notices. Any notice, request, instruction or other document to be given hereunder shall be sent in writing and
delivered personally, sent by reputable, overnight courier service (charges prepaid), sent by registered or certified mail, postage prepaid, or sent by facsimile, according to the instructions set forth below. Such notices shall be deemed given: at
the time delivered by hand, if personally delivered; one business day after being sent, if sent by reputable, overnight courier service; at the time received, if sent by registered or certified mail; and at the time when confirmation of successful
transmission is received by the sending facsimile machine, if sent by facsimile. 
  

			
	If to the Seller:	  	Ball Plastic Container Corp.
		  	10 Longs Peak Drive
		  	Broomfield, CO 80021-2510
		  	Attention: Charles E. Baker
		  	Facsimile No.: (303) 460-2691
		
	with a copy to (which shall not constitute notice):	  	Skadden, Arps, Slate, Meagher & Flom LLP
		  	155 North Wacker Drive
		  	Chicago, IL 60655
		  	Attention: Shilpi Gupta, Esq.
		  	Facsimile No.: (312) 407-0411

  
 51 

			
	If to the Buyer:	 	BWAY Corporation
		 	8607 Roberts Drive
		 	Suite 250
		 	Atlanta, GA 30350
		 	Attention: Mr. Michael B. Clauer
		 	Facsimile No.: (770) 645-4810
		
	with a copy to (which shall not constitute notice):	 	Debevoise & Plimpton LLP
		 	919 Third Avenue
		 	New York, New York 10022
		 	Attention: Kevin M. Schmidt, Esq.
		 	Facsimile No.: (212) 909-6836

 or to such other address or
to the attention of such other party that the recipient party has specified by prior written notice to the sending party in accordance with the preceding. 
 Section 12.2 Expenses; No Offset. Except as expressly provided in this Agreement, each of the Buyer and the Seller, and its Affiliates, shall bear its own costs and expenses (including legal,
accounting, brokers, finders, and investment banking fees and expenses) incurred in connection with this Agreement and the transactions contemplated hereby, whether or not such transactions are consummated. Neither Party shall be entitled to make
any offset against amounts due to the other Party pursuant to this Agreement, the Ancillary Documents or otherwise. 

Section 12.3 Seller Disclosure Schedules. The representations and warranties of the Seller set forth in Article IV are
made and given subject to the disclosures contained in the Seller Disclosure Schedules corresponding to the specific representation and warranty. Inclusion of information in the Seller Disclosure Schedules shall not be construed as an admission that
such information is material to the business, operations or condition (financial or otherwise) of the Business or the Purchased Assets, taken in part or as a whole, or as an admission of liability or obligation of the Seller to any third party. The
specific disclosures set forth in the Seller Disclosure Schedules have been organized to correspond to Section references in Article IV to which the disclosure relate, together with appropriate cross references when disclosure is applicable
to other Sections of Article IV; provided, however, that disclosure of a matter in the Seller Disclosure Schedules shall apply to and shall be deemed to be disclosed for the purposes of any other Section of the Seller Disclosure Schedules to
the extent (but only to the extent) it is reasonably apparent that disclosure of such matter should apply to such Section. 

Section 12.4 Assignment; Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations
provided by this Agreement may be assigned by either Party (whether by operation of Law or otherwise) without the prior written consent of the other Party, provided that the Buyer may designate one or more of its direct or indirect subsidiaries to
purchase all or a portion of the Purchased Assets (and assume the applicable Assumed Liabilities) or assign to them any other rights or obligations contained in this Agreement or any Ancillary Agreement, and in such event such assignee will be
deemed to be the Buyer in respect of such assigned rights or obligations provided that the Buyer remains liable for the obligations 

  
 52 

 
so assigned. Subject to the preceding sentence and except as otherwise expressly provided herein, this Agreement shall be binding upon and inure to the benefit of the Parties hereto and their
respective successors and permitted assigns. 
 Section 12.5 Amendment; Waiver; Etc. This Agreement may be amended
by a written instrument executed and delivered by a duly authorized officer of each of the Seller and the Buyer, respectively. At any time prior to the Closing, the Parties may mutually agree to extend the time for performance of or waive compliance
with any of the covenants or agreements of the other Party to this Agreement, and may waive any breach of the representations or warranties of such other Party. No agreement extending or waiving any provision of this Agreement shall be valid or
binding unless it is in writing and is executed by a duly authorized officer and delivered by or on behalf of the Party against which it is sought to be enforced. The rights and remedies of the Parties in respect of any inaccuracy or breach of any
representation, warranty, covenant or agreement shall in no way be limited by the fact that the act, omission, occurrence or other state of facts or circumstances upon which any claim of any such inaccuracy or breach is based may also be the subject
matter of any other representation, warranty, covenant or agreement as to which there is no inaccuracy or breach. The representations, warranties and covenants of the Seller and the Buyer’s rights to indemnification with respect thereto shall
not be affected or deemed waived by reason of any investigation made by or on behalf of the Buyer (including by any of its advisors, consultants or representatives) or by reason of the fact that the Buyer or any of such advisors, consultants or
representatives knew or should have known that any such representation or warranty is, was or might be inaccurate or by reason of the Buyer’s waiver of any condition set forth in Section 9.1. 

Section 12.6 Severability; Specific Performance. Whenever possible, each provision of this Agreement shall be interpreted in
such manner as to be effective and valid under Law, but if any provision of this Agreement is held to be prohibited by or invalid under Law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. Each Party acknowledges and agrees that the other Party may be irreparably damaged if any provision of this Agreement is not performed in accordance with its terms or otherwise is breached. Accordingly,
each Party agrees that the other Party may be entitled, subject to a determination by a court of competent jurisdiction, to injunctive relief to prevent any such failure of performance or breach and to enforce specifically this Agreement and any of
the terms and provisions hereof. 
 Section 12.7 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all such counterparts taken together shall constitute one and the same Agreement. 
 Section 12.8 Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and shall not constitute a part of this Agreement. 

Section 12.9 No Third-Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any Person or entity
other than the Parties hereto, their respective successors and permitted assigns and the Buyer Indemnified Parties and the Seller Indemnified Parties to the extent specifically provided under Article X. Without limiting the foregoing, the
Seller and the Buyer acknowledge and agree that all provisions contained in this Article VIII with respect to 

  
 53 

 
the Transferred Employees are included for the sole benefit of the Seller, the Buyer and their respective Affiliates and that nothing in this Article VIII, whether express or implied,
shall create any third party beneficiary or other rights (i) in any other Person, including, without limitation, any Employee, Business Employee, or Union Employee, any participant in any existing employee benefit plan or arrangement or any
dependent or beneficiary thereof or (ii) to continued employment with the Seller, the Buyer or any of their respective Affiliates. 
 Section 12.10 Entire Agreement. This Agreement and the Ancillary Documents collectively constitute the entire agreement among the Parties with respect to the subject matter hereof and
supersede, and neither Party is relying upon, any prior or contemporaneous understandings, agreements or representations by or among the Parties, written or oral, that may have related in any way to the subject matter hereof. 

Section 12.11 Exhibits and Schedules. The Exhibits and Schedules attached to this Agreement are made a part of this Agreement
as if set forth fully herein. 
 Section 12.12 Governing Law, etc. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS, TO THE EXTENT SUCH PRINCIPLES OR RULES ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD PERMIT OR REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION. The Buyer and the Seller hereby irrevocably submit to the non-exclusive jurisdiction of the courts of the State of Delaware and the federal courts of the United States of America located in Delaware solely in respect of the
interpretation and enforcement of the provisions of this Agreement and of the documents referred to in this Agreement, and in respect of the transactions contemplated hereby and thereby. Each Party irrevocably agrees that all claims in respect of
the interpretation and enforcement of the provisions of this Agreement and of the documents referred to in this Agreement, and in respect of the transactions contemplated hereby and thereby, or with respect to any such action or proceeding, shall be
heard and determined in such a Delaware State or federal court. Each Party hereby waives, and agrees not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any such document or in respect of
any such transaction, that it is not subject to such jurisdiction. Each Party hereby waives, and agrees not to assert, to the maximum extent permitted by law, as a defense in any action, suit or proceeding for the interpretation or enforcement
hereof or of any such document or in respect of any such transaction, that such action, suit or proceeding may not be brought or is not maintainable in such courts or that the venue thereof may not be appropriate or that this Agreement or any such
document may not be enforced in or by such courts. Each Party hereby consents to and grants any such court jurisdiction over the person of such parties and over the subject matter of any such dispute and agrees that mailing of process or other
papers in connection with any such action or proceeding in the manner provided in Section 12.1, or in such other manner as may be permitted by law, shall be valid and sufficient service thereof. 

Section 12.13 Public Announcement. Neither Party shall issue any press release or public announcement relating to the subject
matter of this Agreement prior to the Closing without the prior written consent of the other Party, provided that either Party may make any public disclosure it believes in good faith is required by Law or any listing agreement concerning

  
 54 

 
its publicly-traded securities, in which case the disclosing Party shall use its commercially reasonable efforts to advise the other Party prior to making such disclosure. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 55 

 IN WITNESS WHEREOF, the Parties have duly executed and delivered this Agreement on the date
first written above. 
  

					
	
	BALL PLASTIC CONTAINER CORP.
		
	By:	 	 /s/ John A. Hayes

		 	Name:	 	 John A. Hayes

		 	Title:	 	 Chief Operating Officer

	
	BWAY CORPORATION
		
	By:	 	  

			
		 	Name:	 	  

			
		 	Title:	 	  

 IN WITNESS WHEREOF, the Parties have duly executed and delivered this Agreement on the date
first written above. 
  

					
	BALL PLASTIC CONTAINER CORP.
		
	By:	 	  

			
		 	Name:	 	  

			
		 	Title:	 	  

	
	BWAY CORPORATION
		
	By:	 	 /s/ Michael B. Clauer

		 	Name:	 	Michael B. Clauer
		 	Title:	 	 Executive Vice President and Chief
 Financial OfficerPurchase Agreement

 Exhibit 10.15 

 
  

 
 PURCHASE AGREEMENT

 DATED AS OF OCTOBER 8, 2010 
 By and Among 
 NORTH AMERICA PACKAGING CORPORATION, 

PLASTICAN, INC. 
 THE STOCKHOLDERS OF PLASTICAN, INC. 
 AND 

JOHN R. CLEMENTI, as Seller Representative 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I
	  			
	 Purchase and Sale of Shares; Closing
	  	 	1	  
	 1.1
	 	Purchase and Sale of Shares	  	 	1	  
	 1.2
	 	Estimated Closing Purchase Price	  	 	2	  
	 1.3
	 	The Closing	  	 	2	  
	 1.4
	 	Post-Closing Adjustment	  	 	3	  
		
	 ARTICLE II
	  			
	 Closing Deliveries
	  	 	6	  
	 2.1
	 	Closing Deliveries of the Company and Sellers	  	 	6	  
	 2.2
	 	Closing Deliveries of the Purchaser	  	 	7	  
		
	 ARTICLE III
	  			
	 Representations and Warranties Concerning the Company
	  	 	8	  
	 3.1
	 	Organization; Authority; No Breach	  	 	8	  
	 3.2
	 	Capitalization	  	 	9	  
	 3.3
	 	Subsidiaries	  	 	9	  
	 3.4
	 	Financial Statements	  	 	10	  
	 3.5
	 	Absence of Undisclosed Liabilities	  	 	10	  
	 3.6
	 	Absence of Certain Developments	  	 	11	  
	 3.7
	 	Title to Personal Property	  	 	14	  
	 3.8
	 	Tax Matters	  	 	15	  
	 3.9
	 	Contracts and Commitments	  	 	17	  
	 3.10
	 	Intellectual Property Rights	  	 	19	  
	 3.11
	 	Litigation	  	 	21	  
	 3.12
	 	Brokerage	  	 	21	  
	 3.13
	 	Employees	  	 	21	  
	 3.14
	 	Employee Benefit Plans	  	 	22	  
	 3.15
	 	Compliance with Laws; Permits; No Proceedings	  	 	24	  
	 3.16
	 	Environmental Matters	  	 	24	  
	 3.17
	 	Affiliate Transactions	  	 	26	  
	 3.18
	 	Real Property	  	 	26	  
	 3.19
	 	Insurance	  	 	27	  
	 3.20
	 	Customers and Suppliers	  	 	27	  
	 3.21
	 	Guaranties and Indebtedness	  	 	27	  
	 3.22
	 	No Acceleration of Rights or Benefits	  	 	27	  
	 3.23
	 	Officers and Directors; Bank Accounts	  	 	28	  
	 3.24
	 	Powers of Attorney	  	 	28	  
	 3.25
	 	Product Warranty	  	 	28	  
	 3.26
	 	Product Liability	  	 	28	  
	 3.27
	 	Limitation on Representations and Warranties	  	 	28	  

  
 - i -

							
	 	 	 	  	Page	 
		
	 ARTICLE IV
	  			
	 Representations and Warranties of the Sellers
	  	 	29	  
	 4.1
	 	Authorization; No Breach	  	 	29	  
	 4.2
	 	Title to Shares; Ownership of the Sellers	  	 	30	  
	 4.3
	 	Litigation, etc	  	 	30	  
		
	 ARTICLE V
	  			
	 Representations and Warranties of Purchaser
	  	 	30	  
	 5.1
	 	Organization and Power	  	 	30	  
	 5.2
	 	Authorization; No Breach	  	 	30	  
	 5.3
	 	Litigation, etc	  	 	31	  
	 5.4
	 	Brokers	  	 	31	  
		
	 ARTICLE VI
	  			
	 Indemnification
	  	 	32	  
	 6.1
	 	Survival of Representations and Warranties	  	 	32	  
	 6.2
	 	Indemnification Obligations and Procedures	  	 	32	  
		
	 ARTICLE VII
	  			
	 Post-Closing Covenants
	  	 	38	  
	 7.1
	 	General	  	 	38	  
	 7.2
	 	Confidentiality	  	 	38	  
	 7.3
	 	Restrictive Covenants	  	 	39	  
	 7.4
	 	Tax Matters	  	 	41	  
	 7.5
	 	Seller Representative	  	 	45	  
	 7.6
	 	Release	  	 	46	  
	 7.7
	 	Transition	  	 	47	  
	 7.8
	 	Clementi Pail	  	 	50	  
	 7.9
	 	Post-Closing Operation of the Company	  	 	50	  
		
	 ARTICLE VIII
	  			
	 Definitions
	  	 	50	  
	 8.1
	 	Definitions	  	 	50	  
	 8.2
	 	Usage	  	 	50	  
		
	 ARTICLE IX
	  			
	 Miscellaneous
	  	 	51	  
	 9.1
	 	Fees; Expenses	  	 	51	  
	 9.2
	 	Remedies	  	 	51	  
	 9.3
	 	Public Announcements	  	 	52	  
	 9.4
	 	Consent to Amendments; Waivers	  	 	52	  
	 9.5
	 	Successors and Assigns	  	 	53	  
	 9.6
	 	Severability	  	 	53	  
	 9.7
	 	Counterparts; Delivery by Facsimile or PDF	  	 	53	  
	 9.8
	 	Descriptive Headings; Interpretation	  	 	54	  
	 9.9
	 	Entire Agreement	  	 	54	  

  
 - ii -

							
	 	 	 	  	Page	 
			
	 9.10
	 	No Third-Party Beneficiaries.	  	 	54	  
	 9.11
	 	Schedules and Exhibits.	  	 	54	  
	 9.12
	 	Governing Law.	  	 	55	  
	 9.13
	 	Efforts; Further Assurances.	  	 	55	  
	 9.14
	 	Consent to Jurisdiction.	  	 	55	  
	 9.15
	 	WAIVER OF JURY TRIAL.	  	 	55	  
	 9.16
	 	Notices.	  	 	56	  
	 9.17
	 	No Strict Construction.	  	 	57	  
	 9.18
	 	Relationship of the Parties.	  	 	57	  

  

					
	 EXHIBITS
	  	 	  	 
			
	Exhibit A	  	–	  	Form of Escrow Agreement
			
	Exhibit B	  	–	  	Form of New Leases
			
	Exhibit C	  	–	  	Form of Intellectual Property Assignment Agreement
			
	Exhibit D	  	–	  	Form of Press Release
			
	Exhibit E	  	–	  	Reserve Methodologies
			
	Exhibit F	  	–	  	Machines Located at 25 Tucker Drive

  
 - iii -

 PURCHASE AGREEMENT 

THIS PURCHASE AGREEMENT (this “Agreement”), dated as of October 8, 2010, is made by and among NORTH AMERICA
PACKAGING CORPORATION, a Delaware corporation (the “Purchaser”), PLASTICAN, INC., a Massachusetts corporation (the “Company”), the Persons identified as “SELLERS” on the signature pages attached hereto
(collectively, the “Sellers” and, each, a “Seller”) and JOHN R. CLEMENTI, in his capacity as the Seller Representative (as such term is defined in Section 7.5 hereof). Certain terms used herein are
defined in Article VIII hereof. 
 RECITALS 

WHEREAS, the Company is engaged in the business of manufacturing and distributing plastic open-head shipping containers and packaging
containers between the sizes of one gallon and ten gallons, and the provision of related services (the “Business”); 
 WHEREAS, the Sellers collectively own all of the issued and outstanding capital stock of the Company, which as of the date hereof consists of 80 shares of voting common stock, no par value per share (the
“Voting Common Stock”), and 720 shares of non-voting common stock, no par value per share (the “Non-Voting Common Stock” and, together with the Voting Common Stock, the “Shares”); 

WHEREAS, Sellers desire to sell, transfer and assign the Shares to Purchaser, and Purchaser desires to purchase the Shares from the
Sellers, on the terms and subject to the conditions hereinafter; and 
 WHEREAS, to induce Purchaser to enter into this
Agreement and consummate the transactions contemplated hereunder, each of the Sellers are willing to be bound by the Restrictive Covenants applicable to such Seller. 
 NOW, THEREFORE, in consideration of the mutual covenants of the parties hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 

Purchase and Sale of Shares; Closing 
 1.1 Purchase and Sale of Shares. 
 On the basis of the representations,
warranties, covenants, and agreements herein, and subject to the satisfaction or waiver of the conditions set forth herein and the terms hereof, at the Closing, Purchaser shall purchase from the Sellers and the Sellers shall sell convey, assign,
transfer and deliver to Purchaser, the Shares, free and clear of any Liens, for an aggregate purchase price equal to the Purchase Price. Notwithstanding anything to the contrary contained herein, the Sellers shall be entitled to cause the Company to
transfer the Excluded Assets (other than the split dollar life insurance policies related to the SC/SD Plans, which shall be transferred 

 
in accordance with Section 7.7) on or before the Closing and to take any other actions necessary to effectuate the transfer of title thereof to the Sellers, which transfer, for the
avoidance of doubt, will occur prior to Closing and Sellers shall be solely responsible for any costs, expenses and Taxes (including Transfer Taxes) related to such transfer. The Purchaser shall cooperate with, and as promptly as practicable provide
all documents and information reasonably requested by, the Sellers to effectuate this paragraph and any such transfers. 
 1.2
Estimated Closing Purchase Price. 
 For purposes of this Agreement, the phrase “Estimated Closing
Indebtedness” shall mean $30,143,217.39, the phrase “Estimated Closing Cash Amount” shall mean $686,217.88, the phrase “Estimated Closing Net Working Capital” shall mean $17,100,000, each of which
respectively reflect the Company’s good faith estimate of the Closing Indebtedness, the Closing Cash Amount and the Closing Net Working Capital. 
 1.3 The Closing. 
 The closing of the transactions contemplated hereby
(collectively, the “Closing”) shall take place at the offices of Kirkland & Ellis LLP, 300 North LaSalle St., Chicago, Illinois 60654 and Burns & Levinson LLP, 125 Summer Street, Boston, MA 02110, at
10:00 A.M. (Boston, MA time) (or at such other location as Purchaser and Seller shall mutually agree in writing) on the date hereof upon the delivery or waiver of the items set forth in Sections 2.1 and 2.2, or on such other
date and time as Purchaser and Seller shall mutually agree in writing. The date of the Closing is referred to as the “Closing Date.” At the Closing, subject to the satisfaction or waiver of each of the conditions specified in
Article II below: 
 (a) The Purchaser shall, by wire transfer of immediately available funds to an account or
accounts designated by the Seller Representative in a written notice to Purchaser on or prior to the Closing, pay to Seller Representative an amount equal to the excess of (x) the Estimated Closing Purchase Price, minus (y) the
Escrow Amount, minus (z) $1,859,379.93, being the amount that the parties have agreed to hold back from the Purchase Price and disburse in accordance with Section 7.7(c)(iii) of this Agreement. At the Closing, the Purchaser
shall, by wire transfer of immediately available funds, wire $2,362,210.90 (the “Special Payroll Amount”) to Burns & Levinson LLP who the Seller Representative will cause to hold such amounts until it receives the required
wire instructions from ADP, and upon receipt of such wire instructions, the Seller Representative shall cause Burns & Levinson LLP to then immediately wire the Special Payroll Payment Amount to ADP for processing the related payments. The
Purchaser shall, by wire transfer of immediately available funds, also pay the Closing Indebtedness (other than amounts then included in the calculation of the Special Payroll Amount as well as the all unpaid bonuses payable (or that may become
payable) to employees of the Company that are allocable to pre-Closing periods, which will be processed in the Company’s next regular payroll immediately following the Closing) to the applicable third parties. At the Closing, the Seller
Representative shall provide the Purchaser with a schedule setting forth the amount to be paid to third parties in respect of the Closing Indebtedness pursuant to this Section 1.3(a) and the Purchaser shall be entitled to rely on such
schedule in making payments pursuant to this Section 1.3(a). 

  
 - 2 -

 (b) The Purchaser shall pay to an escrow account at Danversbank, a Massachusetts Savings
Bank (the “Escrow Agent”), pursuant to the Escrow Agreement in the form attached hereto as Exhibit A (the “Escrow Agreement”) cash in an amount equal to $4,150,000 (the “Escrow Amount”)
for deposit into an escrow account (the “Escrow Account”) to be held and disbursed in accordance with the terms of the Escrow Agreement, which shall include, among other provisions, the release of one half (1/2) of the Escrow
Amount (less the amount of (i) any adjustment in the Purchaser’s favor pursuant to Section 1.4, as applicable, and/or (ii) indemnity claims resolved in the Purchaser’s favor or otherwise then outstanding)
twelve (12) months from the date of this Agreement (the “Initial Release Date”) and the remaining balance of the Escrow Amount (less the amount of any claims then outstanding) eighteen (18) months from the date of this
Agreement (the “Second Release Date”). All interest accrued in respect of the Escrow Account shall inure to the benefit of the Sellers and shall be payable to the Sellers on each of the Initial Release Date and the Second Release
Date along with any other amounts then due and payable to the Sellers. 
 (c) The closing certificates and other documents and
agreements required to be delivered pursuant to this Agreement (including all certificates, documents and agreements set forth in Article II) with respect to the Closing will be exchanged. 

1.4 Post-Closing Adjustment. 
 The Estimated Closing Purchase Price shall be subject to adjustment following the Closing as follows: 
 (a) As soon as reasonably practicable, and in any event within ninety (90) days after the Closing Date, the Purchaser shall (i) deliver to the Seller Representative a written statement (the
“Initial Statement”) setting forth its calculations of each of the Closing Cash Amount, the Closing Indebtedness and the Closing Net Working Capital, as determined by reference to the relevant provisions of this Agreement, and on
the basis of the foregoing, its calculation of the Final Purchase Price, and (ii) provide reasonable access to all applicable financial statements and work papers used by Purchaser and/or its accountants (or other applicable representatives) to
prepare the Initial Statement and calculate the Final Purchase Price (the “Initial Statement Documentation”) in accordance with Section 1.4(b) below. 

(b) Following the receipt by the Seller Representative of the Initial Statement, if deemed reasonably necessary in good faith by the
Seller Representative, the Purchaser shall permit the Seller Representative and its representatives to have reasonable access during normal business hours to the books, records and other documents pertaining to or used in connection with preparation
of the Initial Statement; provided, however, (A) such access does not unreasonably disrupt the normal operations of the Company, and (B) any such access shall be conducted at the expense of the Seller Representative (on
behalf of the Sellers). Subject to the execution and delivery of any non-reliance or similar letter requested by the auditors for the Company, the Seller Representative and its accountants may make reasonable inquiries of the Purchaser, the Company
and their respective employees, accountants and representatives during normal business hours regarding questions concerning the Initial Statement arising in the course of their review thereof, and the Purchaser and the Company shall use their
commercially 

  
 - 3 -

 
reasonable efforts to cause any such employees, accountants and representatives to cooperate with and respond to such inquiries. 

On or prior to the thirtieth (30th) day after the Seller Representative’s receipt of the Initial Statement and Initial Statement Documentation, the
Seller Representative may give the Purchaser a written notice stating in reasonable detail any objections (an “Objection Notice”) that it may have to the calculations of Closing Cash Amount, Closing Indebtedness or Closing Net
Working Capital; provided that the only basis on which an objection may be set forth in an Objection Notice is that the Closing Cash Amount, Closing Indebtedness or Closing Working Capital, as applicable, was not calculated in accordance with
this Agreement or manifest mathematical error. Any Objection Notice shall specify in reasonable detail the dollar amount of any objection and the basis therefor. Any item or calculation included in the calculations of any of the Closing Cash Amount,
Closing Indebtedness and the Closing Net Working Capital set forth in the Initial Statement which is not specifically objected to, or which is reasonably apparent on its face that it is related to a specific objection, in an Objection Notice shall
be deemed final and binding upon the parties hereto. If no Objection Notice is delivered within the 30-day period after delivery of the Initial Statement, the calculations of the Closing Cash Amount, Closing Indebtedness and the Closing Net Working
Capital will be final and binding upon the parties hereto. 
 (c) If the Seller Representative gives a
timely Objection Notice as described in Section 1.4(b) above, then the Purchaser and the Seller Representative will negotiate in good faith to resolve their disputes regarding the Initial Statement and all such negotiations shall be
governed by Rule 408 of the Federal Rules of Evidence and any similar provision of state and local law. If the Purchaser and the Seller Representative are unable to resolve all disputes regarding the calculations set forth in the Initial Statement
that are set forth in the Objection Notice on or prior to the twentieth (20th) day after the delivery of the Objection Notice or such longer period as the Purchaser and the Seller Representative may agree in writing, then the Purchaser and the Seller Representative will,
within five (5) Business Days thereafter, mutually retain RSM McGladrey, Inc. or, if such auditing firm is no longer independent or unwilling to serve, such other independent auditing firm as may be mutually agreed by the Purchaser and the
Seller Representative (the “Independent Arbitrator”), and shall instruct the Independent Arbitrator to resolve the dispute as soon as practicable, and in any event within thirty (30) days, and the Purchaser and the Seller
Representative and their respective agents shall cooperate with the Independent Arbitrator during its engagement. Each of the Purchaser and the Seller Representative agree that it shall not engage, or agree to engage the Independent Arbitrator to
perform any services other than as the Independent Arbitrator pursuant hereto until the Final Purchase Price is finally determined pursuant to this Section 1.4. The Independent Arbitrator shall only decide the specific items under
dispute by the parties (the “Disputed Items”), solely in accordance with the terms of this Agreement (it being understood that in making such decision, the Independent Arbitrator shall be functioning as an expert and not as an
arbitrator). In resolving any Disputed Item, the Independent Arbitrator may not assign a value to any item greater than the greatest value for such item claimed by either party or less than the smallest value for such item claimed by either party.
The Independent Arbitrator’s determination shall be based solely on presentations by the Purchaser and the Seller Representative, such work papers and other documents and information relating to the disputed issues as the Independent

  
 - 4 -

 
Arbitrator may request and the definitions and other terms included herein. Such determination by the Independent Arbitrator will, absent manifest error, be final and binding upon the parties
hereto, will not be subject to appeal and will be used for all purposes of this Section 1.4 for the final calculations of Closing Indebtedness, Closing Cash Amount and the Closing Net Working Capital and, on the basis of the final
calculations thereof, the calculation of the Final Purchase Price. The fees and expenses of the Independent Arbitrator (i) shall be borne by the Seller Representative (on behalf of the Sellers), in the proportion that the aggregate dollar
amount of Disputed Items submitted thereto for resolution that are unsuccessfully disputed by the Seller Representative (as finally determined by the Independent Arbitrator) bears to the aggregate dollar amount of such submitted Disputed Items and
(ii) shall be borne by the Company in the proportion that the aggregate dollar amount of Disputed Items submitted thereto for resolution that are successfully disputed by the Seller Representative (as finally determined by the Independent
Arbitrator) bears to the aggregate dollar amount of such submitted Disputed Items. The Purchaser and the Seller Representative agree to execute, if requested by the Independent Arbitrator, a reasonable engagement letter, including customary
indemnification provisions in favor of the Independent Arbitrator. The Purchaser and the Seller Representative shall cooperate with the Independent Arbitrator and as promptly as practicable provide all documents and information reasonably requested
by the Independent Arbitrator. 
 (d) Payment of Purchase Price Adjustment. 

(i) If the Final Purchase Price (as finally determined pursuant to this Section 1.4) is greater than the
Estimated Closing Purchase Price, the Purchaser shall make, or cause the Company to make on its behalf, payment by wire transfer of immediately available funds to the Seller Representative the amount of such difference, together with interest on
such payment at a rate per annum equal to the Applicable Rate, calculated on the basis of the actual number of days elapsed divided by 365, from the Closing Date to the date of payment. 

(ii) If the Estimated Closing Purchase Price is greater than the Final Purchase Price, the Sellers (on a joint and several
basis), to the extent there are not sufficient funds available in the Escrow Account, shall make payment by wire transfer of immediately available funds to the Purchaser (or Company, if directed by the Purchaser) of the amount of such difference,
together with interest thereon at a rate per annum equal to the Applicable Rate, calculated on the basis of the actual number of days elapsed divided by 365, from the Closing Date to the date of payment. Any amount owed to the Purchaser under this
Section 1.4(d) shall first be satisfied from the Escrow Account. 
 (iii) Any amount to be paid
pursuant to this Section 1.4(d) will be paid within five (5) Business Days of the determination of the Final Purchase Price in accordance with this Section 1.4 and will be treated as an adjustment to the Final Purchase
Price for all purposes. 

  
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 ARTICLE II 
 Closing Deliveries 
 2.1 Closing Deliveries of the Company and
Sellers. 
 The Company and/or Sellers shall deliver the following to Purchaser at the Closing, unless waived in writing by
the Purchaser: 
 (a) Closing Certificate. The Company shall have delivered to Purchaser a certificate from an officer of
the Company, dated as of the Closing Date, to the effect that the deliveries or actions contained in this Section 2.1 have been satisfied. 
 (b) Tax Certificate. Each of the Sellers shall have delivered to the Purchaser a non-foreign affidavit dated as of the Closing Date, sworn under penalty of perjury and in form and substance
required under the Treasury Regulations issued pursuant to Section 1445 of the Code stating that such Seller is not a “Foreign Person” as defined in Section 1445 of the Code, in a form and to the effect reasonably satisfactory to
Purchaser. 
 (c) Corporate Documents. At the Closing, the Company shall have delivered to the Purchaser all of the
following documents: 
 (i) a good standing or similar certificate of the Company from its jurisdiction of
formation dated within ten (10) days prior to the Closing Date; 
 (ii) the original certificates, if
certificated, representing the Shares, and duly executed stock powers in proper form for transfer; 
 (iii) the
articles of incorporation and by-laws of the Company and the resolutions of the board of directors of the Company authorizing the execution, delivery and consummation of this Agreement and the transactions contemplated hereby, in each case,
certified by an officer thereof; 
 (iv) such landlord lien waivers with respect to any Leased Real Property
subject to the New Leases, and the landlord consent with respect to the Company’s lease at 12020-12024 Corporate Drive, Dallas, TX, in each case, in form and substance reasonably satisfactory to the Purchaser; 

(v) a written resignation from each member of the board of directors of the Company, in each case in their capacity as
such, effective as of the Closing; and 
 (vi) such other documents or instruments as Purchaser may reasonably
request to effect the transactions contemplated hereby, including any documents reasonably requested by the Purchaser to comply with any credit agreement or contract for indebtedness to which it is a party. For the avoidance of doubt, the Company
(prior to the Closing) and Sellers shall have no obligation or liability in any manner to such third-parties relating to such indebtedness. 

  
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 (d) Pay-off Letters and Lien Releases. The Company or the Seller Representative
shall have delivered to Purchaser (x) invoices for payment in full from any Person that shall be paid Company Expenses in accordance with this Agreement and (y) payoff letters reflecting all Closing Indebtedness (each containing an
agreement of the secured party to file/execute any applicable UCC termination statements and Lien releases) as may be reasonably required to evidence the payment in full and complete satisfaction of the Closing Indebtedness and all instruments
governing such Closing Indebtedness (collectively, the “Payoff Letters”). 
 (e) Consents and Approvals.
The Company shall have made all filings and shall have obtained all permits, authorizations, consents and approvals set forth on Schedule 2.1(e) (the “Required Consents”) and evidence of such filings, permits,
authorizations, consents and approvals have been delivered to Purchaser, in each case, in a form reasonably acceptable to Purchaser. 
 (f) Termination of Agreements. The agreements set forth on Schedule 2.1(f) shall have been terminated (except with respect to (i) certain Closing Indebtedness, which will be
terminated automatically upon, and subject only to, the related payoff being made in accordance with Section 1.3, and (ii) the SC/SD Plan, the termination of which is subject to the provisions of Section 7.7(c) hereof)
or assigned and novated, in either case without further Liability to the Company (with evidence of such termination or assignment and novation delivered in a form reasonably satisfactory to Purchaser). 

(g) Escrow Agreement. Each of the Escrow Agent and the Seller Representative shall have executed and delivered the Escrow
Agreement to the Purchaser. 
 (h) New Leases. The Seller Representative shall have delivered to the Purchaser Leases in
the form of Exhibit B attached hereto pertaining the Leased Real Properties owned by Affiliates of the Company and leased to the Company (the “New Leases”). 

(i) Clementi Intellectual Property Assignment Agreement. Clementi shall have executed and delivered an Intellectual Property
Assignment Agreement in the form of Exhibit C hereto, with regard to the assignment of inventions and other relevant Intellectual Property Rights (not including the Clementi Pail) from Clementi to the Company. 

2.2 Closing Deliveries of the Purchaser. 
 The Purchaser shall deliver the following to the Sellers and applicable third parties at Closing, unless waived in writing by the Seller Representative: 

(a) Escrow Agreement. Each of the Escrow Agent and Purchaser shall have executed and delivered the Escrow Agreement to the Seller
Representative. 
 (b) Corporate Documents and Delivery of Payment. 

(i) a good standing or similar certificate of Purchaser from its jurisdiction of formation dated within ten
(10) prior to the Closing Date; 

  
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 (ii) certificates of an officer of the Purchaser, dated as of the Closing
Date, to the effect that the deliveries or actions contained in this Section 2.2 have been satisfied; 
 (iii) certified copies of the resolutions of the board of directors of the Purchaser authorizing the execution, delivery and consummation of this Agreement and the transactions contemplated hereby;

 (iv) by wire transfer of immediately available funds, an amount equal to the Estimated Closing Purchase Price
minus the Escrow Amount; and 
 (v) by wire transfers of immediately available funds, the amounts
reflected on the pay-off letters delivered to Purchaser in accordance with Section 2.1(d) to the parties listed thereon and other invoices relating to Closing Indebtedness being paid in accordance with Section 1.3; and 

(vi) The execution by BWAY Corporation of the New Leases as guarantor thereunder. 

ARTICLE III 

Representations and Warranties Concerning the Company 
 As a material inducement to the Purchaser to enter into this Agreement and to consummate the transactions contemplated hereby, the Sellers and the Company hereby represent and warrant to the Purchaser as
of the Closing Date as follows: 
 3.1 Organization; Authority; No Breach. 

(a) The Company is a corporation duly organized, validly existing and in good standing under the Laws of the state of its incorporation,
and the Company is qualified to do business in every jurisdiction in which the failure to be so qualified would reasonably be expected to have a Material Adverse Effect. The Company possesses all requisite corporate power and authority necessary to
own and operate its properties, to carry on its businesses as presently conducted and to carry out the transactions contemplated by this Agreement. The copies of the Company’s Governing Documents which have been furnished to Purchaser’s
counsel reflect all amendments made thereto at any time prior to the date of this Agreement and are correct and complete. The Company is in compliance in all material respects with the provisions of its Governing Documents. 

(b) The execution, delivery and performance of this Agreement and all other Transaction Documents to which the Company is a party have
been duly authorized by the Company. This Agreement and all other Transaction Documents to which the Company is a party or by which the Company is bound, when executed and delivered by the Company in accordance with the terms hereof, shall each
constitute a valid and binding obligation of the Company, enforceable in accordance with its terms, in each case subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’
rights generally and subject, as to enforceability, to the effect of general principles of 

  
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equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). Except as set forth on Schedule 3.1(b) or for any consents which the failure to
obtain could not reasonably be expected (individually or collectively) to have a Material Adverse Effect, the Company does not need to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any Government
Entity in connection with the consummation of the transactions contemplated by this Agreement. 
 (c) Except as set forth on
Schedule 3.1(c), neither the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will (i) violate any provision of the Governing Documents of the Company, (ii) violate any
Order to which the Company is subject, or (iii) conflict with, result in a breach of, constitute a material default under, result (either alone or in combination with another event) in the acceleration of, create in any party the right to
accelerate, terminate, modify, or cancel, or result in the obligation to make any payment (including any change of control, severance or similar payments) or require any notice under any agreement, contract, lease, license, instrument or other
arrangement to which the Company is a party or by which it is bound or to which any of its assets is subject (or result in the imposition of any Lien, other than Permitted Liens, upon any of its assets). 

3.2 Capitalization. 
 (a) The authorized and the issued and outstanding equity interests of the Company is set forth on Schedule 3.2, all of which are owned in the aggregate by the Sellers. All of the issued and
outstanding equity interests of the Company have been duly authorized, are validly issued, fully paid, and nonassessable, and held of record and owned beneficially by the Persons and in the manner described on Schedule 3.2, free and
clear of all Liens, and are not subject to, nor issued in violation of, any preemptive rights or rights of first refusal. Except as set forth on the Schedule 3.2, there are no outstanding or authorized options, warrants, rights,
contracts, calls, puts, rights to subscribe, conversion rights, or other agreements or commitments to which the Company is a party or which are binding upon the Company providing for the issuance, disposition, or acquisition of the Company’s
equity interests (other than this Agreement). Other than as set forth on Schedule 3.2, there are no outstanding or authorized equity appreciation, phantom equity, or similar rights with respect to the Company. There are no voting trusts,
proxies, or any other agreements or understandings with respect to the voting of the equity interests of the Company. The Company is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any of its
equity interests. 
 (b) The Company has delivered or caused to be delivered to Purchaser true, accurate and complete copies of
the ownership ledgers (or the equivalent documents) of the Company, which ownership ledgers (or the equivalent documents) reflect all issuances, transfers, repurchases and cancellations of any equity interests of the Company. 

3.3 Subsidiaries. 
 The Company does not have any Subsidiaries. Except as set forth on Schedule 3.3, the Company does not own or hold the right to acquire any shares of stock or any other equity interest in any
other Person or have any obligations to make any investment in any Person. 

  
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 3.4 Financial Statements. 

(a) In connection herewith, the Company has delivered to the Purchaser: (i) audited consolidated balance sheet of the Company as of
December 31, 2008 and as of December 31, 2009, and the related statements of income and cash flows for the twelve-month periods then ended, together with a copy of the accountant’s report thereon and a consolidating schedule and
(ii) the unaudited consolidated balance sheet of the Company as of August 31, 2010 (the “Most Recent Balance Sheet”), and the related statement of income and cash flows for the eight (8) month period then ended. All
of the foregoing financial statements are hereinafter collectively referred to as the “Financial Statements.” Except as set forth on Schedule 3.4(b), each of the Financial Statements (including in all cases the notes
thereto, if any) (x) has been prepared from, and is in accordance with, the books and records of the Company in all material respects, (y) fairly presents, in all material respects, the financial condition, operating results and cash flows
of the Company and (z) has been prepared in accordance with GAAP, consistently applied throughout such Financial Statements and the periods covered thereby (except, in the case of the Financial Statements described in clause (ii) above,
for the lack of footnote disclosure and normal year-end adjustments (which will not be material individually or in the aggregate)). The reserves reflected in the Financial Statements are appropriate and reasonable. The books and records of the
Company accurately reflect, in all material respects, the assets, liabilities, financial condition and results of operations of the Company and have been maintained in accordance with good business and bookkeeping practices. The Company maintains
and complies in all material respects with a system of accounting controls sufficient to provide reasonable assurances that: (1) its Business is operated in accordance with management’s general or specific authorization; and
(2) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP, consistently applied, and to maintain accountability for items therein. 

(b) Except as set forth on Schedule 3.4(b), the inventory of the Company (i) consists of material, products and supplies
of a quantity and quality usable or saleable in the normal and ordinary course of its business as presently conducted and presently proposed to be conducted, subject to the reserve for excess and obsolete inventory reflected in the valuations set
forth on the Most Recent Balance Sheet, (ii) does not include any material amount of items that are obsolete or damaged, subject to the reserve for excess and obsolete inventory reflected in the valuations set forth on the Most Recent Balance
Sheet, (iii) is located entirely at the locations listed on Schedule 3.4(b), and (iv) for purposes of the valuations set forth on the Most Recent Balance Sheet, is valued at the lower of cost (average cost method) or market
value in accordance with GAAP, subject to the inventory reserve set forth on the Most Recent Balance Sheet. 
 3.5 Absence of
Undisclosed Liabilities. 
 The Company does not have any Liabilities and, to the Knowledge of the Company, there is no basis
for, any proceeding, hearing, investigation, charge, complaint or claim with respect to any Liabilities, except for (i) Liabilities to the extent reflected in the Most Recent Balance Sheet, (ii) Liabilities of the type reflected in the
Most Recent Balance Sheet which have arisen since the date of the Most Recent Balance Sheet in the ordinary course of 

  
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business and consistent with past practice (none of which relates to breach of any material contract, tort, infringement, environmental, health or safety matter, or violation of any Law, or any
related action, suit or proceeding) and (iii) Liabilities described on Schedule 3.5. 
 3.6 Absence of
Certain Developments. 
 Except as expressly contemplated by this Agreement or as set forth on Schedule 3.6,
since the date of the Most Recent Balance Sheet and as of the date hereof: 
 (a) the Company has conducted its Business only in
the ordinary course of business consistent with past practice (including with respect to the timing of collection of receivables and payments of current Liabilities); 
 (b) the Company has not suffered any damage, destruction or casualty loss exceeding $50,000 in the aggregate, whether or not covered by insurance, or experienced any material changes in the amount and
scope of insurance coverage; 
 (c) there has occurred no fact, event or circumstance which, individually or in the aggregate,
has had or will have a Material Adverse Effect; 
 (d) the Company has used all commercially reasonable efforts to
(i) preserve intact the Company’s material assets, current business organizations and material relationships with third parties, (ii) preserve the relationships with customers, employees, suppliers, and others having business dealings
with the Business, (iii) maintain in full force and effect with respect to the Company until the Closing substantially the same levels of coverage of insurance with respect to the assets, operations and activities of the Company as are in
effect as of the date of this Agreement and (iv) comply in all material respects with all Laws applicable to the Company, and maintain in full force and effect, and comply in all material respects with, all of the Permits, as applicable;

 (e) the Company has not amended or authorized any amendment of its Governing Documents or corporate structure; 

(f) the Company has not (A) issued, delivered, sold, transferred, granted, pledged, disposed of or otherwise encumbered any equity
securities of the Company, or granted any options, calls, warrants or other rights to purchase or obtain (including upon conversion, exchange, or exercise) any of its capital stock, (B) split, combined or reclassified any of the outstanding
securities of the Company, or (C) purchased, redeemed or otherwise acquired or offered to acquire (directly or indirectly) or disposed of any securities of the Company (not including the distribution of any Cash not included in the computation
of Closing Cash Amount to its equityholders in accordance with the Company’s Governing Documents and applicable Law); 

(g) the Company has not adopted a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring,
recapitalization or other reorganization or merged or consolidated the Company with any other Person; 

  
 - 11 -

 (h) the Company has not failed to maintain in all material respects its books and records
in accordance with GAAP or made any change in annual accounting period or any method of accounting or Tax, pension, actuarial or accounting practice, policy, principle or procedure, except as required by any changes in the GAAP or applicable Law;
prepared or filed any Tax Return inconsistent with past practice or, on any Tax Return, took any position, made any election, or adopted any method that is inconsistent with positions taken, elections made or methods used in preparing or filing
similar Tax Returns in prior periods; 
 (i) the Company has not made or changed any election, filed any amended Tax Return,
entered into any closing agreement, settled any Tax claim or assessment relating to the Company, surrendered any right to claim a refund of Taxes, consented to any extension or waiver of the limitation period applicable to any Tax claim or
assessment relating to the Company, or took any other similar action relating to the filing of any Tax Return or the payment of any Tax; 
 (j) the Company has not revoked the Company’s election to be taxed as an S corporation within the meaning of Sections 1361 and 1362 of the Code, and the Company not taken or allowed to be
taken any action that would result in the termination of the Company’s status as a validly electing S corporation within the meaning of Sections 1361 and 1362 of the Code; 

(k) the Company has not failed to pay any Taxes as they became due and payable; 

(l) the Company has not entered into any agreement with respect to the voting of its capital stock; 

(m) the Company has not incurred, authorized or committed to make any capital expenditure (or series of related capital expenditures)
that exceeds $50,000 in the aggregate; 
 (n) the Company has not made any capital investment in, any loan to or any acquisition
of the securities or assets of, any other Person (or series of related capital investments, loans, and acquisitions) either involving more than $50,000 or outside the ordinary course of business consistent with past practice; 

(o) the Company has not made any loan (except advances in the ordinary course of business consistent with past practice) to, or made,
granted or promised any bonus or any wage or salary increase or made or promised any other change in employment or compensation terms for, or entered into any other transaction with, any employee, officer or director, other than routine wage
increases in the ordinary course of business consistent with past practice; 
 (p) except to the extent required by applicable
Law or as contemplated in Section 3.14 herein, entered into, adopted, amended, modified or terminated any pension, retirement, welfare, bonus, profit-sharing, incentive, severance or other plan, contract, or commitment for the benefit of
any of the current or former officers, managers or directors or any 

  
 - 12 -

 
of its current or former employees of the Company or committed to do any of the foregoing (or took any such action with respect to any other Company Plan); 

(q) except to the extent required by applicable Law, took or failed to take any action, the result of which could reasonably be expected
to result in any representation and warranty of the Sellers set forth in this Agreement ceasing to be true and correct in any material respect; 
 (r) the Company has not sold, leased, assigned, transferred, licensed, sublicensed, encumbered or otherwise disposed of any Company Intellectual Property, disclosed any Confidential Information to any
Person (other than to the Purchaser and the Purchaser’s representatives, agents (including lenders), attorneys and accountants), or abandoned or permitted to abandon or permitted to lapse any of the Company Intellectual Property (other than
patents expiring at the end of their statutory terms); 
 (s) the Company has not sold, leased, assigned, transferred, licensed,
sublicensed, encumbered or otherwise disposed of any tangible asset, except in the ordinary course of business consistent with past practice; 
 (t) the Company has not changed its cash management practices or canceled any debts owed to or claims held by the Company; 
 (u) the Company has not mortgaged or encumbered or permitted any of the Company’s assets to become subject to any Liens, other than Permitted Liens; 

(v) the Company has not entered into, terminated, modified or amended any Material Contract (other than extensions at the end of a term
in the ordinary course of business consistent with past practice, which extensions shall not subject the Company to materially different terms than those to which the Company was subject under the term just ended), or waived any material default
under, or released, settled or compromised any material claim against the Company or liability under any Material Contract, or entered into any new contracts, agreements, leases or subleases, except contracts or agreements made in the ordinary
course of business consistent with past practice; 
 (w) the Company has not accelerated the collection of accounts receivable,
delayed the purchase of supplies, delayed capital expenditures, repairs or maintenance, or delayed payment of accounts payable or accrued expenses; 
 (x) the Company has not made any loan or engaged in any transactions with, or entered into any contracts or agreements with, any Affiliates of the Company, except to the extent required by any existing
Material Contracts; 
 (y) the Company has not settled any Action (A) involving amounts due or alleged to be due to or from
the Company in an amount, in the aggregate, exceeding $100,000 or would otherwise impose any material restrictions on the business or operations of the Company; or (B) which involves any injunction or the imposition of equitable relief;

  
 - 13 -

 (z) the Company has provided the Purchaser with prompt written notice of all ordinary
course insurance claims; 
 (aa) the Company has not failed to maintain in full force and effect material insurance policies
covering the Company and its properties, assets and businesses in a form and amount consistent with past practice; 
 (bb) the
Company has not communicated with employees of the Company regarding the compensation, benefits or other treatment that they will receive in connection with the transactions contemplated by this Agreement, other than any such communications which
were consistent with prior directives or documentation provided to the Company by Purchaser; 
 (cc) the Company has not
implemented any plant closing or mass layoff that could implicate the WARN Act; 
 (dd) the Company has not incurred any
Indebtedness, or redeemed, repurchased, prepaid, defeased, canceled, incurred or otherwise acquired any Indebtedness, or entered into any contract, agreement or other arrangement to do any of the foregoing or issued or sold any debt securities or
warrants or rights to acquire any debt securities of the Company or assumed, guaranteed or endorsed, or otherwise became responsible for, the obligations of any Person for borrowed money, except for such Indebtedness incurred in the ordinary course
of business consistent with past practices or under the Company’s existing core business revolving credit facility as in effect on the date of the Most Recent Balance Sheet in an aggregate amount not exceeding the maximum amount authorized
under that agreement at any time outstanding; and 
 (ee) the Company has not taken, offered, proposed or authorized any of, or
committed or agreed to take any of, the foregoing. 
 3.7 Title to Personal Property. 

Except as set forth on Schedule 3.7 and with respect to certain Excluded Assets being transferred to Sellers at or prior to
Closing, the Company has good and valid title to, a valid leasehold interest in, or a valid license to use, the personal property and assets, tangible or intangible, shown on the Most Recent Balance Sheet or acquired thereafter prior to the date
hereof, free and clear of all Liens, except for (i) properties and assets disposed of in the ordinary course of business consistent with past practice and (ii) Permitted Liens. Such personal property and assets are sufficient for the
conduct of the Business as presently conducted. 

  
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 3.8 Tax Matters. 

Schedule 3.8(a) contains a list of each of the states, territories and jurisdictions (whether foreign or domestic) in which
the Company, each Seller and, if applicable, each beneficiary of each Seller files or is required to file Tax Returns. Each Seller (and, if the Seller is a disregarded entity or grantor trust, any owner of such Seller) is a resident for Income Tax
purposes in the jurisdictions listed opposite such Seller’s name on Schedule 3.8(b). Schedule 3.8(c) contains a true and accurate list of all state, local, and non-U.S. Taxing jurisdictions where the Company may be
subject to Tax in connection with the deemed sale of the Company’s assets caused by any election under Section 338(h)(10) of the Code. Except as set forth on Schedule 3.8(d): 

(a) the Company has prepared, duly and timely filed, or caused to be duly and timely filed, with the appropriate taxing authorities all
Tax Returns required to be filed with respect to the Company, all such Tax Returns were true, accurate and complete in all respects and the Company has timely paid all Taxes owed and payable by it (whether or not shown or required to be shown on any
Tax Return); 
 (b) there are no Liens for Taxes (other than Taxes not yet due and payable) upon any of the assets of the
Company; 
 (c) the unpaid Taxes of the Company: (i) did not, as of the date of the Most Recent Balance Sheet, exceed the
reserve for Taxes (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Most Recent Balance Sheet (rather than in any notes thereto) and (ii) will not
exceed that reserve as adjusted for operations and transactions through the Closing Date in accordance with the past custom and practice of the Company in filing its Tax Returns; 

(d) to the Knowledge of the Company, no Tax audits, claims, examinations, disputes, investigations or administrative or judicial Tax
proceedings are being conducted with respect to the Company and the Company has not received any notice from any taxing authority that any Tax audits, claims, examination, disputes, investigations or administrative or judicial Tax proceedings are
pending or being conducted with respect to Company; 
 (e) the Company has not received from any taxing authority (including
jurisdictions where the Company has not filed Tax Returns) any, and to the Knowledge of the Company none of the following are threatened: (i) notice indicating an intent to open an audit or other review, (ii) request for information
related to Tax matters or (iii) notice of deficiency or proposed adjustment for any amount of Tax proposed, asserted, or assessed by any taxing authority against Company; 
 (f) the Company has not waived any statute of limitations with respect to any Taxes, agreed to any extension of time for filing any Tax Return that has not been filed, or consented to extend the period in
which any Tax may be assessed or collected by any Tax authority and no such request to waive or extend is outstanding; 

  
 - 15 -

 (g) no claim has been made by a taxing authority in a jurisdiction where the Company does
not file Tax Returns that the Company is or may be subject to Taxes assessed by such jurisdiction; 
 (h) the Company is and has
not been a party to any “reportable transaction,” as defined in Section 6707A(c)(1) of the Code and Treasury Regulation Section 1.6011-4(b); 
 (i) the Company has deducted, withheld and timely paid to the appropriate governmental authority all Taxes required to be deducted, withheld or paid in connection with amounts paid or owning to any
employee, independent contractor, creditor, owner or other third party, and the Company has complied with all reporting and record keeping requirements related thereto, including filing of Forms W-2 and 1099s (or other applicable forms);

 (j) the Company has no indemnity obligation as of or after the Closing for any Taxes imposed under Section 4999 or 409A
of the Code; 
 (k) the Company is not a party to or bound by any Tax allocation, sharing or indemnity agreement, or any similar
agreement; 
 (l) the Company: (i) has not been a member of an affiliated group filing a consolidated Tax Return or of any
affiliated, consolidated, combined, or unitary group, as defined under applicable state, local or foreign Law and (ii) does not have any Liability for the Taxes of any Person under Treasury Regulation Section 1.1502-6 (or any similar
provision of state, local, or foreign law), as a transferee or successor, by contract, or otherwise; 
 (m) the Company has not
been the “distributing corporation” or the “controlled corporation” (in each case, within the meaning of Section 355(a)(1) of the Code) with respect to a transaction described (or intended to be described) in
Section 355 or Section 361 of the Code (i) within the three (3) year period ending as of the date of this Agreement or (ii) in a distribution that could otherwise constitute part of a “plan” or “series of
related transactions” (within the meaning of Section 355(e) of the Code) that includes the transactions contemplated by this Agreement; 
 (n) the Company has not and has not been a United States real property holding corporation within the meaning of Section 897(c)(2) of the Code during the applicable period specified in
Section 897(c)(1)(A)(ii) of the Code; 
 (o) the Company will not be required to include any item of income in, or exclude
any item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: (A) change in method of accounting for a taxable period ending on or prior to the Closing Date,
(B) ”closing agreement” as described in Section 7121 of the Code (or any corresponding or similar provision of state, local or foreign income Tax law) executed on or prior to the Closing Date, (C) intercompany transactions
or any excess loss account described in Treasury Regulations under Section 1502 of the Code (or any corresponding or similar provision of state, local or foreign income Tax law), (D) installment sale or open transaction disposition made on
or prior to the Closing Date, (E) prepaid amount 

  
 - 16 -

 
received on or prior to the Closing Date or (F) or election by the Company under Section 108(i) of the Code; 
 (p) the Company (and any predecessor of the Company) has been a validly electing S corporation within the meaning of Section 1361 and 1362 of the Code at all times since January 1, 1986 and the
Company will be an S corporation up to and including the Closing Date; 
 (q) the Company shall not be liable for any federal
Tax under Section 1374 of the Code in connection with the deemed sale of the Company’s assets caused by any election under Section 338(h)(10) of the Code; 
 (r) the Company has not in the past ten (10) years (A) acquired assets from another corporation in a transaction in which the Company’s Tax basis for the acquired assets was determined, in
whole or in part, by reference to the Tax basis of the acquired assets (or any other property) in the hands of the transferor or (B) acquired the stock of any corporation that is a qualified subchapter S subsidiary; and 

(s) to the Knowledge of the Company, the Company has disclosed on its federal income Tax Returns all positions taken that could give rise
to a substantial understatement of federal income Tax within the meaning of Section 6662 of the Code. 
 3.9 Contracts
and Commitments. 
 (a) Except (a) as expressly contemplated by this Agreement, (b) as set forth on
Schedule 3.9(a) or (c) agreements under which the Company no longer has any material ongoing obligations other than confidentiality obligations and, as of the date hereof, unasserted or otherwise unmatured indemnity obligations, and
other similar customary obligations that survive termination or expiration of such agreements, the Company is not a party to or bound by any written or oral: 
 (i) pension, profit-sharing, option, retirement, bonus, commissions, employee stock purchase or other plan or arrangement providing for deferred or other compensation to employees or any other employee
benefit plan, arrangement or practice, whether formal or informal; 
 (ii) collective bargaining agreement or any
other contract with any labor union, or severance agreements, programs, policies or arrangements; 
 (iii)
management agreement, consulting agreement, employee leasing agreement or contract for the employment or services of any officer, individual employee, independent contractor, consultant or other Person on a full-time, part-time, consulting or other
basis, or any other arrangement or understanding (A) providing annual cash or other compensation in excess of $100,000, (B) providing for the payment of any cash or other compensation or benefits upon the consummation of the transactions
contemplated hereby, or (C) otherwise restricting its ability to terminate the employment or services of any employee, 

  
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independent contractor, or consultant at any time for any lawful reason or for no reason without penalty or liability; 

(iv) agreement or indenture relating to Indebtedness or the mortgaging, pledging or otherwise placing a Lien on any asset
or group of assets of the Company or any letter of credit arrangements, or any guarantee therefor other than as reflected in the Financial Statements; 
 (v) lease or agreement under which the Company is a (A) lessee of or holds or operates any personal property, owned by any other party, except for any lease of personal property under which the
aggregate annual rental payments do not exceed $50,000 or (B) lessor of or permits any third party to hold or operate any property, real or personal, owned or controlled by the Company; 

(vi) other contract or group of related contracts with the same party or group of affiliated parties that involves
payments over the life thereof by or to the Company in excess of $100,000 per year or $250,000 in the aggregate, or which are not terminable by the Company upon thirty (30) days’ or less notice without premium or penalty; 

(vii) all agreements relating to the ownership of, investments in or loans and advances to any Person (other than advances
to employees in the ordinary course of business consistent with past practice), including investments in joint ventures and minority equity investments and loans with respect thereto; 

(viii) inbound or outbound license, royalty, or other agreement with respect to any Intellectual Property Rights (except
for license agreements for non-customized commercially available off-the-shelf software) and all other agreements affecting, limiting or restricting the Company’s ability to use, enforce or disclose any Intellectual Property Rights; 

(ix) contract or agreement prohibiting the Company from engaging in any business anywhere in the world; 

(x) agreement or commitment for the purchase by the Company of machinery, equipment or other personal property for an
amount in excess of $50,000; 
 (xi) agreement that provides any customer of the Company with pricing, discounts
or benefits that change based on the pricing, discounts or benefits offered to other customers of the Company, including any agreement containing “most favored nation” provisions; 

(xii) agreement with any Government Entity; 

  
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 (xiii) agreement involving the settlement of any Action with respect to
which (i) any amounts remain unpaid or (ii) conditions precedent to the settlement thereof have not been satisfied; 
 (xiv) agreement for the disposition of any significant portion of the assets or business of the Company or any agreement for the acquisition of a significant portion of the assets or business of any other
Person; 
 (xv) indemnity agreement with any supplier to or customer of the Business under which the Company is
obligated to indemnify such party against product warranty or infringement or similar claims except for standard indemnity provisions set forth in supplier and customer agreements customary for the Company; 

(xvi) warranty contract with respect to the Company’s services rendered or its products sold, leased or licensed
which contains terms and conditions that differ in any material respect from standard warranty terms and conditions provided to customers of the Company; and 
 (xvii) any other contract, agreement or other arrangement material to the Company, whether or not entered into in the ordinary course of business. 

(b) All of the contracts, agreements and instruments set forth or required to be set forth on Schedule 3.9(a) (the
“Material Contracts”) are valid, binding, fully executed and enforceable as to the Company and, to the Knowledge of the Company, as to the other parties thereto, in accordance with their respective terms and will continue as such
following the consummation of the transactions contemplated hereby, in each case subject to (i) the effect of any applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally;
(ii) as to enforceability, to the effect of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and (iii) obtaining the necessary consents disclosed on
Schedule 3.1(c). Except as set forth on Schedule 3.9(b), the Company has performed all material obligations required to be performed by it through the date hereof and is not in material default under or in breach of nor in
receipt of any claim of default or breach under any Material Contract, and no event has occurred which with the passage of time or the giving of notice or both would result in a default, breach or event of material noncompliance by the Company under
any Material Contract and, to the Knowledge of the Company, there has been no breach or cancellation or anticipated breach or cancellation by the other parties to any Material Contract nor, to the Knowledge of the Company, is any such Material
Contract subject to renegotiation prior to the Closing (or will be as a result of the consummation of the transactions contemplated herein). The Company has made available to the Purchaser true and complete copies of all Material Contracts,
including all amendments thereto. 
 3.10 Intellectual Property Rights. 

(a) Schedule 3.10(a) contains a complete and accurate list of all of the following that are owned by the Company:
(i) patented or registered Intellectual Property Rights; (ii) pending patent applications or applications for registration of other Intellectual 

  
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Property Rights; (iii) unregistered trademarks and service marks currently used in connection with any material product or service of the Company; and (iv) unregistered copyrights
embodied in or necessary to any material product or service of the Company. With respect to each patent application set forth in Schedule 3.10(a), to the Knowledge of the Company, (i) the Company has prosecuted such patent
application in a commercially reasonable manner, (ii) the Company has not made any intentional misrepresentations or misstatements and has not intentionally failed to disclose material information during the prosecution of such patent
application, and (iii) such patent application was filed in the name of the proper inventor(s), and each inventor shown on such patent application has assigned to the Company such inventor’s right, title and interest in and to the
invention covered by such patent application. To the Knowledge of the Company, all of the Company Intellectual Property is valid and enforceable and none of the Company Intellectual Property has been misused. 

(b) The Company owns all right, title and interest in and to all of the Intellectual Property Rights set forth on
Schedule 3.10(a), and owns all right, title and interest in and to, or possesses a valid and enforceable right to use pursuant to a written Material Contract set forth on Schedule 3.9(a), all other Intellectual Property
Rights used in, or necessary for, its Business as presently conducted and proposed to be conducted (collectively “Company Intellectual Property”), free and clear of all Liens except for Permitted Liens. Immediately after the
Closing, the Company will own or have a valid and enforceable right to use all Company Intellectual Property on terms and conditions identical to those under which the Company owned or used such Intellectual Property Rights immediately prior to the
Closing (other than with respect to the Clementi Pail). 
 (c) Except as set forth on Schedule 3.10(c),
(i) there are no Actions presently pending or, to the Knowledge of the Company, threatened against the Company contesting the validity, use, ownership or enforceability of any of the Company Intellectual Property, (ii) the conduct of the
Business does not infringe, misappropriate, dilute, or otherwise violate, and during the last six (6) years has not infringed, misappropriated, diluted, or otherwise violated, any Intellectual Property of other Persons, and during the last six
(6) years, the Company has not received any notice regarding the foregoing (including any demand or request that the Company license any Intellectual Property Rights from any Person), nor are the Sellers aware of any facts that indicate a
likelihood of the existence of such infringement, misappropriation, dilution or violation, (iii) to the Knowledge of the Company, no Person has during the last six (6) years infringed, misappropriated, diluted or otherwise violated any of
the Company Intellectual Property, and (iv) the loss or expiration of any Company Intellectual Property owned by, issued to or licensed to the Company or related group of Company Intellectual Property has not had a Material Adverse Effect on
the Company, and no such loss or expiration is pending, or, to the Knowledge of the Company, threatened or reasonably foreseeable (including as a result of the transactions contemplated hereby) (except for patents expiring at the end of their
statutory terms). 
 (d) The Company has taken steps reasonable under the circumstances to maintain and protect all of the
Company Intellectual Property. No current or former employees, contractors or consultants of the Company have been or are in dispute with the Company with respect to the ownership of any Company Intellectual Property. The Company has information

  
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technology systems sufficient to operate the Business as presently conducted. The Company has appropriate disaster recovery plans, procedures and facilities for the Business, and has taken steps
reasonable under the circumstances to safeguard and maintain the information technology systems utilized in the operation of the Business as presently conducted. 
 3.11 Litigation. 
 Except as set forth on Schedule 3.11, there
are, and since the date that is three (3) years immediately prior to the date hereof there have been, no Actions or Orders pending or, to the Knowledge of the Company, threatened against the Company, at law or in equity, including any Actions
with respect to the transactions contemplated by this Agreement, that would reasonably be expected to have a Material Adverse Effect. The Company is adequately insured with respect to each of the matters set forth on Schedule 3.11,
subject to applicable deductibles, self-insured retentions and policy limits. Except as set forth on Schedule 3.11, no suit, Action or other proceeding, or injunction or final judgment, Order or decree relating thereto, exists or, to the
Knowledge of the Company, is pending or threatened by or before any court or arbitrator or any Government Entity (or any quasi-judicial or administrative agency thereof) or regulatory body or authority in which it is sought to restrain or prohibit
or to obtain damages or other relief (including rescission) in connection with the transactions contemplated hereby or which prohibits the consummation of the transactions contemplated hereby. 

3.12 Brokerage. 
 Except as set forth on Schedule 3.12, there are and shall be no claims for brokerage commissions, finders’ fees or similar compensation in connection with the transactions contemplated by
this Agreement based on any arrangement or agreement to which the Company, the Seller Representative and/or the Sellers are a party or subject to. Any such fees, expenses and other obligations shall be included in the Company Expenses and, to the
extent not included there, neither Purchaser nor the Company will have any obligations with respect to such fees, expenses and other obligations following the Closing. 
 3.13 Employees. 
 Except as otherwise disclosed on Schedule 3.13:

 (a) with respect to the Company and the Business: (i) there is no collective bargaining agreement or relationship with
any labor organization; (ii) to the Knowledge of the Company, no executive or manager of the Company: (A) has any present intention to terminate his or her employment or (B) is a party to any confidentiality, non-competition,
proprietary rights or other such agreement between such employee and any Person besides such entity that would be material to the performance of such employee’s employment duties, or the ability of such entity or Purchaser to conduct the
business of such entity; (iii) no labor organization or group of employees has filed any representation petition or made any written or oral demand for recognition; (iv) to the Knowledge of the Company, no union organization or
decertification activities are underway or threatened, and no such activities have taken place in the past five (5) years; (v) no labor strike, work stoppage, slowdown or other material labor dispute has occurred, and none is underway or,
to the Knowledge of the Company, threatened; (vi) there is no 

  
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workman’s compensation liability, experience or matter outside the ordinary course of business and consistent with past practice; (vii) there is no employment related charge,
compliance, grievance, Action or obligation of any kind, pending or threatened, relating to an alleged violation or breach by the Company (or any of its officers or directors) of any Law and there is no basis for any of the foregoing; and
(viii) no employee or agent of the Company has committed any act or omission giving rise to material Liability for any violation or breach identified in subsection (vii) above. The Company has not engaged in any employee layoff activities
that would violate or in any way implicate the Worker Adjustment Retraining and Notification Act of 1988, as amended, or any similar Law (collectively, the “WARN Act”). The Company has complied in all material respects with all
applicable Laws relating to employment, including the hiring of employees eligible to work in the United States. 
 (b)
Schedule 3.13(b) contains a true and complete list as of the date hereof (i) all employees or leased employees of the Company having an annual salary in excess of $50,000 and (ii) the rate of all current compensation payable to
each such employee, including any bonus, contingent or deferred compensation. 
 3.14 Employee Benefit Plans. 

(a) Schedule 3.14 sets forth, as of the date hereof, a complete and correct list of each Employee Plan. 

(b) Each Employee Plan (and each related trust, insurance contract, or fund) has been maintained, funded and administered in all material
respects in accordance with the terms of such Employee Plan and complies in form and operation in all material respects with applicable Law, including the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the
Code. 
 (c) None of the Employee Plans are subject to Title IV of ERISA, are Multiemployer Plans or provide for medical or
life insurance benefits to retired or former employees of the Company (other than as required under COBRA and for which the covered individual pays the full cost of coverage), and the Company does not have any liability or potential liability with
respect to a plan subject to Title IV of ERISA, including as a result of the Company having been treated as a single employer with any Person (other than the Company) under Section 414 of the Code. 

(d) Neither the Company nor any employee, officer or director thereof has engaged in, and to the Knowledge of the Company, there have
been no, transactions involving an Employee Plan prohibited by Section 406 of ERISA or Section 4975 of the Code. No fiduciary (as defined in Section 3(21) of ERISA) that is the Company or any owner, director, officer or employee
thereof or, to the Knowledge of the Company, any other fiduciary, has any liability for breach of fiduciary duty or any other material failure to act or comply in connection with the administration or investment of the assets of any Employee Plan.

 (e) All material contributions, premiums and other payments (including all employer contributions and employee salary
reduction contributions) that are due have been timely made to each Employee Plan and all such contributions for any period ending on or before 

  
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the Closing Date that are not yet due have been made or properly accrued. No Employee Plan has any unfunded liability not accurately reflected on the Most Recent Balance Sheet. 

(f) Each Employee Plan that is intended to meet the requirements of a “qualified plan” under Section 401(a) of the Code
has received a favorable determination letter from the Internal Revenue Service or is entitled to rely upon an opinion letter from the Internal Revenue Service on the form of a prototype plan document to the effect that the form of such prototype
plan document meets the requirements of Section 401(a) of the Code and, to the Knowledge of the Company, no events have occurred that would reasonably be expected to adversely affect such qualified status. 

(g) The Company has provided to the Purchaser (i) true and complete copies of each Employee Plan and amendments thereto (including
written summaries of any unwritten Employee Plan), (ii) any related trust agreement or other funding instrument; (iii) with respect to an Employee Plan intended to be qualified under Section 401(a) of the Code, the most recent
Internal Revenue Service determination or opinion letter; (iv) the most recent summary plan description and summary of material modifications, if any; (v) the most recent financial statements, if any, and any Form 5500 annual reports
(including attached schedules) for the last two (2) years; and (vi) any other material document pursuant to which the Employee Plans are maintained or funded. 
 (h) Except as set forth on Schedule 3.14(h), none of the Employee Plans provides any separation, severance, termination or similar benefit or accelerate any vesting schedule or alter any
benefit structure solely as a result of a change in control of ownership within the meaning of any Employee Plans or Section 280G of the Code. 
 (i) There do not exist any pending or, to the Company’s Knowledge, threatened claims (other than routine undisputed claims for benefits), suits, actions, disputes, audits or investigations with
respect to any Employee Plan and the Company does not have any Knowledge of any facts that would give rise to or could reasonably be expected to give rise to any such action, suit or claim. 

(j) Each contract, arrangement or plan that constitutes a non-qualified deferred compensation plan for purposes of Code Section 409A
has been operated in compliance in all material respects with Code Section 409A and applicable guidance from the Internal Revenue Service. The Company does not have any actual or potential obligation to reimburse or otherwise “gross
up” any Person for the interest or additional tax set forth in Section 409A(1)(B) of the Code, except as otherwise disclosed on Schedule 3.14(j). 
 (k) The Company has adopted, at least one day prior to the Closing Date, board resolutions that terminate the Plastican, Inc. 401(k) Retirement Plan (the “Company 401(k) Plan”) effective
on a date prior to the Closing Date and provided evidence of same to Purchaser. 
 (l) The Company has previously entered into
split dollar life insurance agreements and salary continuation agreements, each using the forms set forth on Schedule 3.14(l) (with any deviations from such form, not including the amount of the monthly benefit, noted on such schedule),
with the current or former key employees of the Company 

  
 - 23 -

 
listed on Schedule 3.14(l). Schedule 3.14(l) also lists the insurance policy number of each life insurance policy owned by the Company related to such agreements. The
split dollar life insurance agreements and salary continuation agreements and related life insurance policies listed or required to be listed on Schedule 3.14(l) are referred to herein as the “SC/SD Plan.” 

3.15 Compliance with Laws; Permits; No Proceedings. 
 (a) The Company and its officers, directors, agents and employees are presently in compliance, in all material respects, with, any and all Laws (including any policies having the force and effect of law,
any rules of common law and any judicial or administrative interpretations thereof) relating to the operation of the Business and the maintenance and operation of the Company’s properties and assets, and no Actions have been filed against the
Company during the last five (5) years alleging any violation of any of the foregoing, nor has the Company received written notice of any such violations. 
 (b) The Company has all material Permits that are necessary for the operation of the Business as presently conducted and to the Knowledge of the Company, all Permits are valid and in good standing and are
in full force and effect, except as otherwise noted on Schedule 3.15(b). Except for events which could not reasonably be expected (individually or collectively) to have a Material Adverse Effect, there is no default or violation, and no
event has occurred which, with notice or the lapse of time, would constitute a material default or violation, of any term, condition or provision of any Permit and, to the Knowledge of the Company, there are no facts or circumstances which could
form the basis for any such default or violation. There is no Action pending or, to the Knowledge of the Company, threatened, relating to the suspension, revocation or modification of any Permit. No loss or expiration of any Permit is pending or, to
the Company’s Knowledge, threatened other than expiration in accordance with the terms thereof, which terms do not expire as a result of the consummation of the transactions contemplated hereby. 

3.16 Environmental Matters. 
 Except as set forth on Schedule 3.16: 
 (a) The Company is and has
been in compliance in all material respects with all Environmental Laws. 
 (b) Without limiting the generality of the
foregoing, the Company has obtained and is (and has been) in compliance in all material respects with all permits, licenses and other authorizations required pursuant to any Environmental Laws for the operation of the business of the Company and the
occupation of the facilities of the Company. 
 (c) In the past five (5) years, the Company has not received any written or
oral notice, report or other information regarding any actual or alleged material violation of, or Liability under, Environmental Laws and there are no actions, suits, proceedings (including any arbitration proceedings), orders investigations or
claims pending or, to the Knowledge of the Company, threatened against or affecting the Company relating to Environmental Laws. 

  
 - 24 -

 (d) The Company has no Liability for fines, penalties, or damages, or for response,
remedial, or corrective action costs, under Environmental Laws, including liability for the release or disposal of, contamination by, exposure to, or clean up of, any Hazardous Substance. 

(e) The Company is not subject to any Action or Proceeding pursuant to Environmental Laws or relating to any Hazardous Substance.

 (f) The Company has not assumed, undertaken, provided an indemnity with respect to or otherwise become subject to, any
material Liability of any other Person relating to Environmental Law or any Hazardous Substance. 
 (g) The Company has not
treated, stored, disposed of, arranged for or permitted the disposal of, transported, handled, Released, or exposed any Person to any Hazardous Substance, or owned or operated any property or facility which is or has been contaminated by any
Hazardous Substance, so as to give rise to any current or future material Liabilities of the Company under any Environmental Laws (including CERCLA). 
 (h) The Company has not manufactured, sold, marketed, installed or distributed products or items containing asbestos, silica or mercury and has no Liability with respect to the presence or alleged
presence of any such materials in any product or item or at or upon any property or facility. 
 (i) Neither this Agreement nor
the consummation of the transactions contemplated hereby shall impose any Liabilities on the Company or otherwise for site investigation or cleanup, or notification to or consent of any Government Entity or third parties under any Environmental Law
(including any so called “transaction-triggered” or “responsible property transfer” laws and regulations). 

(j) None of the following exists at any property or facility currently owned, occupied or operated by the Company: (i) underground
storage tanks; (ii) landfills, dumps, or waste disposal areas; (iii) asbestos-containing material in any form or condition; (iv) materials or equipment containing polychlorinated biphenyls; or (v) drinking water wells, production
water wells, or monitoring wells; provided that the representation in this Section 3.16(j) is made to the Knowledge of the Company to the extent made with respect to any Leased Real Property that is not subject to the New Leases.

 (k) Without limiting the generality of the foregoing, no facts, events or conditions relating to the past or present
properties, facilities or operations of the Company would prevent, hinder or limit continued compliance with any Environmental Law, give rise to any corrective, investigatory or remedial obligations pursuant to any Environmental Law or give rise to
any other Liabilities pursuant to any Environmental Law; provided that the representation in this Section 3.16(k) is made to the Knowledge of the Company to the extent made with respect to any Leased Real Property that is not
subject to the New Leases. 
 (l) The Company has provided to the Purchaser copies of all environmental reports, audits,
assessments, and investigations, and any other environmental documents, related 

  
 - 25 -

 
to the Company or the current or former facilities or operations of the Company, to the extent the foregoing are in the possession, custody, or under the reasonable control of the Sellers or the
Company. 
 3.17 Affiliate Transactions. 
 Except as set forth on Schedule 3.17, no officer, director, shareholder, Affiliate, or to the Knowledge of the Company, employee, of the Company or any individual related by blood, marriage or
adoption to any such individual or any entity in which any such Person or individual owns any beneficial interest, is a party to any agreement, contract, commitment or transaction with the Company, is a consultant, competitor, creditor, debtor,
customer, distributor, supplier or vendor of the Company or has any interest in any property, real or personal or mixed, tangible or intangible, used by the Company. Without limiting the generality of the foregoing, none of the Clementi Pail, any
Intellectual Property referenced in the definition of the Clementi Pail or the Purchase Option Machines are, or during the last 24 months have been, used in the operation of or generated revenues for the Business. 

3.18 Real Property. 
 (a) The Company does not own any real property. 
 (b) The Company has delivered to
the Purchaser a true and complete copy of all leases, subleases, licenses, concessions (including all amendments, extensions, renewals, guaranties and other agreements with respect thereto) and other agreements (the “Leases”)
pursuant to which the Company holds any land, buildings, structures, improvements, fixtures or other interest in real property (the “Leased Real Property”) (including oral leases), and in the case of an oral lease, a written summary
of the material terms of such lease. Except as set forth on Schedule 3.18(b), with respect to each of the Leases: (i) such Lease is legal, valid, binding, enforceable and in full force and effect, subject to proper authorization and
execution of such Lease by the other party thereto and the application of any bankruptcy or other creditor’s rights laws; (ii) the Company currently has possession and quiet enjoyment of the Leased Real Property and to the Knowledge of the
Company, there are no material disputes with respect to such Lease; (iii) the Company is not in default under such Lease and no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would
constitute a default by the Company or to the Knowledge of the Company, any other party to such Lease or otherwise permit the termination or modification thereof or the acceleration of rent thereunder (including the consummation of the transactions
contemplated herein); (iv) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any rights or interest under any of the Leased Real Property or sublet or permitted any other Person to occupy any part of
the Leased Real Property; (v) the Company has not collaterally assigned or granted any other security interest in such Lease or any interest therein; (vi) there are no Liens on the estate or interest created by such Lease; (vii) no
party to such Lease has repudiated any provision thereof and there are no disputes, oral agreements or forbearance programs in effect as to such Lease; (viii) with respect only to Leases from Affiliates of the Company, the owner of the
building, improvements or other real property subject to such Lease has good fee title to the parcel of real property; and (ix) as of the Closing, (A) Sellers shall have obtained the consent of each landlord to the transactions
contemplated hereunder or (B) the Lease (or sublease thereunder) does not 

  
 - 26 -

 
prohibit or otherwise give rise to any rights of termination, modification or acceleration in any party to such Lease (other than the Company) as a result of the consummation of the transactions
contemplated hereunder. The Leased Real Property identified in Schedule 3.18(b) comprise all of the real property used by the Company in the Business and operations of the Company. 

3.19 Insurance.  
 Schedule 3.19 contains a description of each insurance policy or any other form of insurance maintained by the Company with respect to its properties, assets and business. All of such
insurance policies with respect to the Company, and to the Knowledge of the Company, with respect to each insurer, are in full force and effect and the Company is not in breach or default with respect to its obligations under any insurance policy it
maintains (including with respect to the payment of premiums), and no claim for coverage has been denied. The Company has not received any written notice of cancellation or intent to cancel or notice of increase or intent to increase premiums in any
respect with respect to such policies. The insurance coverage of the Company is customary for corporations of similar size engaged in similar lines of business. Except as set forth on Schedule 3.19, the Company does not have any
self-insurance or co-insurance programs, and the reserves set forth on the Most Recent Balance Sheet are adequate to cover all anticipated Liabilities with respect to any such self-insurance or coinsurance programs. 

3.20 Customers and Suppliers. 
 Schedule 3.20 sets forth (a) each of the twenty (20) largest customers of the Company, determined by revenue for the eight (8) months ended August 31, 2010
(“Material Customers”) and (b) each of the twenty (20) largest suppliers of the Company taken as a whole, determined by purchases for eight (8) months ended August 31, 2010 (“Material
Suppliers”). Since the date of the Most Recent Balance Sheet, except as noted on Schedule 3.20, the Company has not received any notice from any Material Customer that such Material Customer is considering or intends,
anticipates or otherwise expects to stop, decrease the volume of, or change, adjust, alter or otherwise modify any of the terms (whether related to payment, price or otherwise) with respect to purchasing materials, products or services from the
Company (whether as a result of the consummation of the transactions contemplated hereby or otherwise). Since the date of the Most Recent Balance Sheet, except as noted on Schedule 3.20, the Company has not received any notice from any
Material Supplier that such Material Supplier is considering or intends, anticipates or otherwise expects to stop, decrease the volume of, or change, adjust, alter or otherwise modify any of the terms (whether related to payment, price or otherwise)
with respect to supplying materials, products or services to the Company (whether as a result of the consummation of the transactions contemplated hereby or otherwise). 
 3.21 Guaranties and Indebtedness. 
 Except as set forth on
Schedule 3.21, the Company is not a guarantor for any Liability (including Indebtedness) of any other Person. Except as set forth on Schedule 3.21, the Company has no outstanding Indebtedness. 

3.22 No Acceleration of Rights or Benefits. 

  
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 Except as set forth on Schedule 3.22, (i) the Company has not made, and is
not it obligated to make, any payment to any Person in connection with the transactions contemplated by this Agreement or any other change of control transaction and (ii) no rights or benefits of any Person have been (or will be) accelerated or
increased as a result of the consummation of the transactions contemplated by this Agreement and no Person’s rights or obligations may be modified upon a change of control of the Company or provide any Person the right to receive payment
(including rescission or liquidated damages) upon a change of control of the Company. 
 3.23 Officers and Directors; Bank
Accounts. 
 Schedule 3.23 lists all officers and directors of the Company and all bank accounts, safety deposit
boxes and lock boxes (designating each authorized signatory with respect thereto) for the Company. 
 3.24 Powers of
Attorney. 
 There are no outstanding powers of attorney executed on behalf of the Company except for any customary powers of
attorney that were granted to lenders as part of loan documentation pertaining to any of the Company’s existing indebtedness. 
 3.25 Product Warranty. 
 Except as set forth on Schedule 3.25,
except as would result in claims covered by insurance or for events which could not reasonably be expected (individually or collectively) to have a Material Adverse Effect, each product manufactured, sold, leased, or delivered by the Company during
the last five (5) years has been in material conformity with all applicable contractual commitments and all express and implied warranties, and the Company does not have any Liability (and, to the Knowledge of the Company, there exist no set of
facts or conditions for any present or future action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand against the Company giving rise to any Liability with respect thereto) for replacement or repair thereof, subject to
the reserve for product warranty claims set forth on the face of the Most Recent Balance Sheet, as adjusted for the passage of time through the Closing Date in the ordinary course of business consistent with past practice. 

3.26 Product Liability. 
 Other than as set forth on Schedule 3.26, the Company does not have any Liability (and, to the Knowledge of the Company, there exist no set of facts or conditions for any present or future
action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand against the Company giving rise to any Liability) arising out of any injury to individuals or property as a result of the ownership, possession, or use of any
product manufactured, sold, leased, or delivered by the Company. 
 3.27 Limitation on Representations and Warranties.

 Except as otherwise expressly set forth in this Article III, Article IV and the other documents executed and
delivered in connection herewith, the Company and each Seller make 

  
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no representations or warranties to Purchaser. Without limiting the generality of the foregoing, except as set forth in a representation and warranty contained in this Agreement or any other
document executed in connection herewith, the Company and each Seller make no representations or warranty with respect to (a) any projections, estimates or budgets heretofore delivered to or made available to the Purchaser of future revenues,
expenses or expenditures, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof); or (b) any other information or documents made available to Purchaser or its counsel,
accountants or advisors. EXCEPT AS EXPRESSLY SET FORTH HEREIN, THE COMPANY AND EACH SELLER HAS NOT MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE REGARDING ANY OF THE PERSONAL PROPERTY OR ASSETS OF THE
COMPANY AND, EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH IN THIS AGREEMENT, IT IS UNDERSTOOD THAT PURCHASER IN ACQUIRING THE SHARES AND THE COMPANY TAKES THE PERSONAL PROPERTY AND ASSETS “AS IS.” 

ARTICLE IV 

Representations and Warranties of the Sellers 
 As a material inducement to the Purchaser to enter into this Agreement and to consummate the transactions contemplated hereby, each Seller hereby represents and warrants to the Purchaser as of the Closing
Date as follows: 
 4.1 Authorization; No Breach. 

(a) Each Seller possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. To the
extent applicable, such Seller’s execution, delivery and performance of this Agreement and all other agreements and instruments contemplated hereby to which such Seller is a party have been duly authorized by such Seller. This Agreement and all
other agreements or instruments contemplated hereby to which such Seller is a party or by which such Seller is bound, when executed and delivered by such Seller in accordance with the terms hereof, shall each constitute a valid and binding
obligation of such Seller, enforceable in accordance with its terms, in each case subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights and remedies generally and
subject, as to enforceability, to the effect of general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether such enforceability is considered in a proceeding in equity or at
law). To the extent applicable, such Seller holds its interests in the Shares subject to a trust agreement that is valid, existing, and enforceable under the Laws of the jurisdiction in which it was created and by which it is governed, and that
provides its trustees with all necessary power and authority to execute, deliver, and perform its obligations under this Agreement and the other agreements contemplated hereby to which such Seller is a party. Each Person executing this Agreement and
such other agreements contemplated hereby on behalf of any Seller which is a trust is a duly appointed, qualified, and acting trustee thereof, with all requisite power and authority to execute, deliver, and perform all of obligations of such Sellers
under this Agreement and such other agreements contemplated hereby. 

  
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 (b) Except as set forth on Schedule 4.1(b), the execution, delivery and
performance by such Seller of this Agreement and all other agreements contemplated hereby to which such Seller is a party, and the fulfillment of and compliance with the respective terms hereof and thereof by such Seller, does not and shall not
(i) conflict with or result in a breach of the terms, conditions or provisions of, (ii) constitute a default under (whether with or without the passage of time, the giving of notice or both), (iii) result in the creation of any Lien
upon the Shares pursuant to, (iv) give any third party the right to modify, terminate or accelerate any obligation under, (v) result in a violation of, or (vi) require any authorization, consent, approval, exemption or other action by
or notice or declaration to, or filing with any third party or Government Entity pursuant to, (A) the Governing Documents of such Seller, if applicable, (B) any Law to which such Seller is subject, or (C) any material agreement,
instrument, order, judgment or decree to which such Seller is subject, other than, in each case with respect to clause (vi) above, those which have been obtained or completed as of the date hereof. 

4.2 Title to Shares; Ownership of the Sellers. 
 Such Seller owns of record and beneficially the Shares set forth opposite such Seller’s name on Schedule 4.2, and such Seller has good and marketable title to such Shares, free and clear
of all Liens (other than restrictions contained in the Governing Documents of the Company). Except as set forth on Schedule 4.2, such Seller is not a party to (a) any option, warrant, purchase right or other contract or commitment
(other than this Agreement) that could require such Seller to sell, transfer or otherwise dispose of any capital stock of either Company or (b) any voting trust, proxy, or other agreement or understanding with respect to the voting of any
capital stock of either Company. At the Closing, such Seller shall sell, transfer and convey the Shares to the Purchaser free and clear of all Liens. 
 4.3 Litigation, etc. 
 There are no Actions pending or, to the knowledge of
such Seller, threatened against or affecting such Seller in which it is sought to restrain or prohibit or to obtain damages or other relief in connection with the transactions contemplated hereby. 

ARTICLE V 

Representations and Warranties of Purchaser 
 As a material inducement to the Sellers to enter into this Agreement and consummate the transactions contemplated hereby, Purchaser hereby represents and warrants to the Sellers as of the Closing Date as
follows: 
 5.1 Organization and Power. 
 Purchaser is a corporation duly organized, validly existing and in good standing under the Laws of its state of incorporation. Purchaser possesses all requisite corporate power and authority necessary to
own and operate its properties, to carry on its businesses and to carry out the transactions contemplated by this Agreement. 

5.2 Authorization; No Breach. 

  
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 (a) The execution, delivery and performance of this Agreement and all other agreements or
instruments contemplated hereby to which Purchaser is a party or by which Purchaser is bound have been duly authorized by all requisite action. This Agreement and all other agreements contemplated hereby to which Purchaser is a party or by which the
Purchaser is bound, when executed and delivered by Purchaser in accordance with the terms hereof, shall each constitute a valid and binding obligation of Purchaser, enforceable in accordance with its terms, in each case subject to the effect of any
applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights and remedies generally and subject, as to enforceability, to the effect of general principles of equity, including principles of
commercial reasonableness, good faith and fair dealing (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 (b) The execution, delivery and performance by Purchaser of this Agreement and all other agreements contemplated hereby to which the Purchaser is a party or by which the Purchaser is bound, and the
fulfillment of and compliance with the respective terms hereof and thereof by the Purchaser, do not and shall not (i) violate, conflict with or result in a breach of the terms, conditions or provisions of, (ii) constitute a default under
(whether with or without the passage of time, the giving of notice or both), (iii) give any third party the right to modify, terminate, cancel or accelerate any obligation (or result in the obligation to make any payment) under,
(iv) result in a violation of, or (v) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any Government Entity pursuant to, (A) the Governing Documents of Purchaser,
(B) any Law or Order to which Purchaser is subject or (C) any material agreement, instrument, order, judgment or decree to which Purchaser is subject. 
 (c) The Purchaser does not need to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any third party or Government Entity in connection with the consummation
of the transactions contemplated by this Agreement, other than those which have been obtained or completed as of the date hereof. 
 5.3 Litigation, etc. 
 Except as set forth on Schedule 5.3, no
suit, Action or other proceeding, or injunction or final judgment, Order or decree relating thereto, exists or, to the knowledge of the Purchaser, is pending or threatened by or before any court or arbitrator or any Government Entity (or any
quasi-judicial or administrative agency thereof) or regulatory body or authority in which it is sought to restrain or prohibit or to obtain damages or other relief (including rescission) in connection with the transactions contemplated hereby or
which prohibits the consummation of the transactions contemplated hereby. 
 5.4 Brokers. 

Neither Purchaser nor any of its representatives have incurred any obligation or liability, contingent or otherwise, for brokerage or
finders’ fees or agents’ commissions or other similar payment in connection with the transactions contemplated by this Agreement. 

  
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 ARTICLE VI 
 Indemnification 
 6.1 Survival of Representations and Warranties.

 (a) Generally. The representations and warranties of Purchaser and the Sellers in this Agreement or in any certificate
delivered hereunder, shall survive the Closing and terminate on the date that is 18 months following the Closing Date, except that the representations and warranties set forth in (i) Section 3.1 (Organization; Authority; No
Breach) (other than Section 3.1(c)(ii) and Section 3.1(c)(iii)), 3.2(a) (Capitalization), 3.7 (Title to Personal Property), 3.12 (Brokerage), 3.21 (Guaranties and Indebtedness), 4.1(a)
(Authority of Sellers), and 4.2 (Title to Shares) shall survive indefinitely and (ii) Section 3.8 (Tax Matters) shall survive until thirty (30) days following the expiration of any applicable statutes of limitations
(including extensions thereof) (collectively, clauses (i) and (ii) the “Fundamental Reps”). Notwithstanding the foregoing, any representation or warranty in respect of which indemnity may be sought under this
Article VI, and the indemnity with respect thereto, shall survive the time at which it would otherwise terminate pursuant to this Section 6.1 if written notice of the inaccuracy or breach thereof, describing the factual basis
of the claim in reasonable detail, giving rise to such right of indemnity shall have been given to the party against whom such indemnity may be sought prior to any applicable limitation date (as applicable, the “Limitation Date”)
until the claim for indemnity with respect to such breach is finally resolved and such rights to indemnification shall apply to Losses arising both prior to and after such limitation date. For the avoidance of doubt, other than survival limitations
for breaches of representations and warranties as set forth in this Section 6.1(a), there shall be no time limitation for bringing any other claim for indemnification pursuant to this Article VI. 

(b) Special Rule for Fraud. Notwithstanding anything in this Section 6.1 to the contrary, in the event of any breach
of a representation or warranty by a Party that constitutes actual fraud, the representation or warranty shall survive consummation of the transactions contemplated in this Agreement and continue in full force and effect without any time limitation.

 6.2 Indemnification Obligations and Procedures. 

(a) Indemnification Obligations of the Sellers. From and after the Closing, subject to Section 6.2(c) below and the
other limitations set forth herein, the Sellers shall, severally and jointly, indemnify the Purchaser and its Affiliates (including the Company) and their respective shareholders, partners, officers, directors, employees, agents, attorneys,
representatives, successors and permitted assigns (collectively, the “Purchaser Indemnified Parties”) and save and hold each of them harmless against and pay on behalf of or reimburse such Purchaser Indemnified Parties as and when
incurred for any loss, Liability, Action, cause of action, cost, damage or expense, Tax or diminution in value, whether or not arising out of Third Party Claims (including interest, penalties, reasonable attorneys’, consultants’ and
experts’ fees and expenses and all amounts paid in investigation, defense or settlement of any of the foregoing) (collectively, “Losses”), which any such Purchaser Indemnified Party may suffer as a result of: 

  
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 (i) any breach of any representation or warranty of the Company, any Seller
or the Seller Representative under this Agreement; 
 (ii) any breach of any covenant or agreement of the Company
(to the extent such covenant or agreement is to be performed prior to the Closing), any Seller or the Seller Representative under this Agreement; and/or 
 (iii) any Excluded Liability. 
 (b) Indemnification Obligations of the
Purchaser. From and after the Closing, subject to the limitations set forth herein, the Purchaser shall indemnify the Sellers and their Affiliates, shareholders, officers, directors, trustees, employees, agents, representatives, attorneys,
successors and permitted assigns (collectively, the “Seller Indemnified Parties”) and save and hold each of them harmless against and pay on behalf of or reimburse such Seller Indemnified Parties as and when incurred for any Losses
which any Seller Indemnified Party may suffer as a result of: 
 (i) any breach of any representation or warranty
of the Purchaser under this Agreement; or 
 (ii) any breach of any covenant or agreement of the Company (to the
extent such covenant or agreement is to be performed after the Closing) or the Purchaser under this Agreement. 
 (c)
Limitations on Sellers’ Indemnification Obligations. Notwithstanding the foregoing, the Sellers shall not be required to indemnify the Purchaser Indemnified Parties in respect of any Loss subject to indemnification under
Section 6.2(a)(i) (x) unless and until the aggregate of all Losses subject to indemnification under Section 6.2(a)(i) (other than Losses thereunder to which the Deductible does not apply in accordance with the last
sentence of this Section 6.2(c)) exceeds $415,000 (the “Deductible”), in which case the Sellers shall be required to indemnify the Purchaser Indemnified Parties for only such Losses in excess of the Deductible and
(y) from and after the time that the Sellers have made indemnification payments under Section 6.2(a)(i) (other than payments thereunder to which the Cap does not apply in accordance with the last sentence of this
Section 6.2(c)) that in the aggregate are equal to or in excess of $5,187,500 (the “Cap”). Notwithstanding anything herein to the contrary, the Deductible and the Cap shall not apply to Losses to the extent such Losses
arise from or relate to fraud, intentional misrepresentation or a breach of a Fundamental Rep, and, for the avoidance of doubt, shall not apply in any claim for indemnification pursuant to Section 6.2(a)(ii) or
Section 6.2(a)(iii). 
 (d) Manner of Payment; Escrow. Any indemnification of the Purchaser Indemnified
Parties or the Seller Indemnified Parties pursuant to this Section 6.2 shall be effected by wire transfer of immediately available funds from the Sellers (on a joint and several basis) or the Purchaser, as the case may be, to an account
designated in writing by the applicable Purchaser Indemnified Party or Seller Indemnified Party, as the case may be, within fifteen (15) days after the determination thereof that is binding on the Indemnitor (as defined below); provided,
however, that any indemnification owed by any Seller to the Purchaser Indemnified Parties shall be satisfied out of the Escrow Account. 

  
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 (e) Third Party Claims. Any Person making a claim for indemnification under this
Section 6.2 (an “Indemnitee”) shall notify the indemnifying party (an “Indemnitor”) of the claim in writing promptly after receiving written notice of any action, lawsuit, proceeding, investigation or
other claim against it (if by a third party) (each a “Third Party Claim”), describing the claim, the amount thereof (if known and quantifiable) and the basis thereof; provided that the failure to so notify an Indemnitor shall
not relieve the Indemnitor of its obligations hereunder except to the extent that (and only to the extent that) the Indemnitor has been materially prejudiced thereby or the failure to notify continued until the expiration of the applicable survival
limitations, including without limitation the Limitation Date (as applicable) and those limitations set forth in this in Article VI. Any Indemnitor shall be entitled to participate in the defense of such Third-Party Claim giving rise to
an Indemnitee’s claim for indemnification at such Indemnitor’s expense, and at its option (subject to the limitations set forth below) shall be entitled to assume co-lead of the defense thereof by appointing a reputable counsel reasonably
acceptable to the Indemnitee to be the lead counsel in connection with such defense by giving notice thereof within twenty (20) days of its receipt of an indemnification claim; provided that, prior to the Indemnitor assuming
co-lead of such defense of such Third-Party Claim where the amount asserted or reasonably calculated is more than 50% of any remaining indemnification obligation of the Indemnitor, it shall first verify to the Indemnitee in writing that such
Indemnitor shall be responsible (with no reservation of any rights) for all liabilities and obligations relating to such claim for indemnification; and provided further that: 

(i) the Indemnitee shall be entitled to participate as co-lead in the defense of such claim and to employ counsel of its
choice for such purpose; provided that the fees and expenses of such separate counsel shall be borne by the Indemnitee (other than any fees and expenses of such separate counsel that are incurred prior to the date the Indemnitor effectively
assumes control of such defense which, notwithstanding the foregoing, shall be borne by the Indemnitor); 
 (ii)
the Indemnitor shall not be entitled to assume co-lead of such defense (unless otherwise agreed to in writing by the Indemnitee; provided further that Indemnitor shall in any event continue to be entitled to participate in the defense
as provided above) and shall pay the reasonable fees and expenses of counsel retained by the Indemnitee if (1) the claim for indemnification relates to or arises in connection with any criminal or quasi criminal proceeding, action, indictment,
allegation or investigation; (2) the Indemnitee reasonably believes an adverse determination with respect to the action, lawsuit, investigation, proceeding or other claim giving rise to such claim for indemnification would be detrimental to the
Indemnitee’s future business prospects; (3) the claim seeks an injunction or equitable relief against the Indemnitee; (4) the Indemnitee has been advised by counsel that a reasonable likelihood exists of a conflict of interest between
the Indemnitor and the Indemnitee; (5) upon petition by the Indemnitee, a court of competent jurisdiction rules that the Indemnitor failed or is failing to vigorously prosecute or defend such claim; (6) the claim is with respect to Taxes
or (7) the Indemnitee reasonably believes that the Indemnitor lacks the financial resources to satisfy any Losses relating to the claim; 

  
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 (iii) if the Indemnitor shall co-lead the defense of any such claim, the
Indemnitor shall obtain the prior written consent of the Indemnitee before entering into any settlement of a claim or ceasing to defend such claim if, pursuant to or as a result of such settlement or cessation, injunctive or other equitable relief
will be imposed against the Indemnitee or if such settlement does not expressly and unconditionally release the Indemnitee from all liabilities and obligations with respect to such claim, without prejudice; and 

(iv) if the Indemnitor is not entitled to, or does not, assume co-lead of such defense pursuant to the preceding
provisions of this Section 6.2(e), the Indemnitee shall control such defense without waiving any right that the Indemnitee may have against the Indemnitor for indemnification pursuant to this Section 6.2. 

With respect to any Third-Party Claim that either party believes may be subject to indemnification under this Article VI:
(i) both the Indemnitee and Indemnitor, as the case may be, shall keep the other Person fully informed of the status of such Third-Party Claim and any related proceedings at all stages thereof where such other Person is not represented by its
own counsel, (ii) the parties agree (each at its own expense) to render to each other such assistance as they may reasonably require and to cooperate in good faith in order to ensure the proper and adequate defense of any Third-Party Claim, and
(iii) the parties shall obtain the prior written consent of the other party before entering into any settlement of a claim, such consent not to be unreasonably withheld, conditioned or delayed; provided that neither party shall be
required to provide the other with any information or materials which are covered by attorney-client privilege or which are subject to any confidentiality obligations of such party with respect to a third party unless the other party can provide
assurances that the confidentiality obligations or privilege will be preserved following the sharing of such information. 

With respect to any Third-Party Claim that either party believes may be subject to indemnification under this Article VI, the
parties agree to cooperate in such a manner as to preserve in full (to the extent possible) the confidentiality of all Confidential Information and the attorney-client and work-product privileges. In connection therewith, each party agrees that:
(i) it will use its best efforts, in respect of any Third-Party Claim in which it has assumed or participated in the defense, to avoid production of Confidential Information (consistent with applicable law and rules of procedure), and
(ii) all communications between any party hereto and counsel responsible for or participating in the defense of any Third-Party Claim shall, to the extent possible, be made so as to preserve any applicable attorney-client or work-product
privilege. 
 (f) Direct Claims. Any claim by an Indemnitee on account of Losses which does not result from a Third-Party
Claim (a “Direct Claim”) will be asserted by giving the Indemnitor reasonably prompt written notice thereof (such notice, a “Direct Claim Notice”) prior to the expiration of the applicable survival limitations
hereunder, including without limitation the Limitation Date (as applicable) and those limitations set forth in this in Article VI. A Direct Claim Notice will describe the Direct Claim in reasonable detail, will include copies of all
available written evidence thereof and will indicate the estimated amount, if reasonably practicable, of Losses that have been or may be sustained by the Indemnitee. The Indemnitor 

  
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will have a period of thirty (30) days following its receipt of the Direct Claim Notice to respond in writing to such Direct Claim. If the Indemnitor does not so respond within such
thirty (30) day period, the Indemnitor will be deemed to have rejected such claim, in which event the Indemnitor and Indemnitee will each be free to pursue such remedies as may be available to such party on the terms and subject to the
provisions of this Agreement. If an objection is timely interposed by the Indemnitor, then the Indemnitee and the Indemnitor shall negotiate in good faith for a period of thirty (30) Business Days from the date the Indemnitee receives such
objection (such period, or such longer period as agreed in writing by the parties, is hereinafter referred to as the “Negotiation Period”). If the Negotiation Period has not resulted in a resolution of the Direct Claim that is the
subject of the Direct Claim Notice prior to the expiration thereof, the Indemnitor or the Indemnitee may submit the dispute for resolution to a court of competent jurisdiction in accordance with Sections 9.14 and 9.15 hereof and
each will be free to pursue such remedies as may be available to them on the terms and subject to the provisions of this Agreement. 
 (g) Notice of Claims. A failure to give timely notice or to include any specified information in any notice as provided in this Section 6.2 will not affect the rights or obligations of
any party hereunder, except to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage or was otherwise materially
prejudiced as a result of such failure or the failure to notify continued until the expiration of the applicable survival limitations, including without limitation those set forth in this Article VI. 

(h) Recoveries. To the extent that an Indemnitor has made an indemnification payment in respect of a Loss, the Indemnitee shall
pay to the Indemnitor the amount of any Tax benefits realized by the Indemnitee as a result of such Loss if, as and when such benefits are actually realized, less the amount, if any, of any loss (whenever arising) of Tax benefit resulting therefrom
(for example, as a result of reduced depreciation deductions in the event that a Section 338(h)(10) election has been made). For such purpose, (i) a Tax benefit shall be deemed to be realized if and to the extent that the Indemnitee’s
Tax liability for a taxable period without taking into account such Loss exceeds the Indemnitee’s Tax liability for such period taking into account such Loss and (ii) a Tax benefit shall be realized when the Indemnitee files a Tax Return
claiming that the Loss results in a reduction in the Indemnitee’s cash Tax liability, but only to the extent such Tax Return is required to be filed on or prior to the third anniversary after the Closing Date. 

Furthermore, the amount of any Loss for which an Indemnitee is entitled to receive an indemnification payment under this Agreement will
be reduced by the amount, if any, of the cash recovery (net of reasonable out-of-pocket expenses incurred in obtaining such recovery and the amount of any retrospective or other current increase in the insurance premiums to the extent attributable
to the payment of such cash recovery or the existence of such Losses) that the Indemnitee has actually received with respect thereto under any insurance policies (the “Cash Recovery Amount”). With respect to any particular claim for
indemnification hereunder, Indemnitee shall use its commercially reasonable efforts to pursue and obtain recovery under any applicable insurance policies maintained by the Company or its successors or assigns (with it being understood that the use
of such efforts shall not delay or restrict any rights to 

  
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indemnification hereunder, but shall expressly include both pursuing any claim a well as contesting and thereafter pursing any coverage disputes with the insurance companies) and (i) to the
extent that Indemnitee receives payment under any such policies with respect to such claim for indemnification prior to the receipt of any payment in respect of the applicable Losses by Indemnitor, Indemnitor shall only remain liable with respect to
such claim for the excess of the amount for which Indemnitee is entitled to be indemnified hereunder with respect to such claim for indemnification over the Cash Recovery Amount with respect to such claim for indemnification, or (ii) to the
extent Indemnitee has received payment from Indemnitor in respect of the amounts for which Indemnitee is entitled to be indemnified hereunder with respect to such claim for indemnification prior to the receipt of any amounts under any applicable
insurance policies with respect to such claim, Indemnitee shall continue to pursue recover under such insurance policies and shall promptly pay over to Indemnitor an amount equal to the lesser of (A) the amount previously paid by Indemnitor
with respect to such claim for indemnification and (B) the Cash Recovery Amount received under such applicable insurance policies with respect to such claim for indemnification. 

In addition, notwithstanding anything to the contrary contained herein, Purchaser covenants and agrees that it will not cause the Company
to commute or terminate any insurance policy maintained by the Company with respect to any period prior to the Closing Date. For so long as Purchaser or any of its Affiliates owns greater than 50% of the issued and outstanding capital stock of the
Company, the Purchaser shall cause the Company to be joined as an insured party under any general liability or property and casualty insurance policy maintained for the benefit of the Purchaser, subject to the same policy limitations, deductibles,
self-insured retention policy amounts and other coverage limitations applicable to the Purchaser and its Affiliates. 
 Notwithstanding anything to the contrary elsewhere in this Agreement, except to the extent payable to a Third-Party in respect of a Third-Party Claim, no Indemnitor shall, in any event, be liable to any
Indemnitee for an indemnification pursuant to Section 6.2(a)(i) or Section 6.2(b)(i) for any Losses that are consequential, incidental, indirect, special or punitive damages of such other Indemnitee, including loss of
revenue, income or profits, diminution of value or loss of business reputation or opportunity relating to the breach or alleged breach of any representation or warranty made hereunder. 

(i) Purchase Price Adjustment Treatment. All indemnification payments made pursuant to this Article VI shall be
treated as adjustments to the Purchase Price. 
 (j) Effect of Investigation. The right to indemnification, payment of
Losses of a Purchaser Indemnified Party or a Seller Indemnified Party or for other remedies based on any representation, warranty, covenant or obligation of the Sellers or the Purchaser, respectively, contained in or made pursuant to this Agreement
shall not be affected by (i) any investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, with respect to the accuracy or inaccuracy of or compliance with, any such representation, warranty,
covenant or obligation or (ii) the waiver of any condition based on the accuracy of any representation or warranty, or on the performance of or compliance with any covenant or 

  
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obligation, and will not affect the right to indemnification based on such representations, warranties, covenants and obligations. 

(k) Exclusive Remedy. From and after the Closing, the remedies provided by this Article VI, subject to the limitations
set forth herein, shall be the sole and exclusive remedies of the Purchaser Indemnified Parties and the Seller Indemnified Parties for the recovery of Losses resulting from, relating to or arising out of this Agreement (except for claims pertaining
to or as set forth in Sections 1.4, 7.3, 7.4 and 9.2) and in the case of claims for fraud or intentional misrepresentation, or claims under the other documents and instructions entered into in connection with the
transactions contemplated hereby) and such parties hereby waive, and release one another from, all other remedies, whether common law or statutory or at equity. 
 ARTICLE VII 
 Post-Closing Covenants 

7.1 General. 
 In case at any time after the Closing any further action is necessary to carry out the purposes of this Agreement, each of the parties will take such further action (including the execution and delivery
of such further instruments and documents) as any other party reasonably may request, all at the sole cost and expense of the requesting party (unless the requesting party is entitled to indemnification therefor under Article VI). The
parties hereto acknowledge and agree that from and after the Closing the Purchaser will be entitled to possession of all documents, books, records (including Tax records), agreements, and financial data of any sort relating to the Company, and the
Sellers shall be entitled to retain copies of Tax records and other items that they reasonably determine in good faith are required for their personal records. After the Closing, the Purchaser and the Company shall also provide the Sellers with
reasonable access during normal business hours to the books and records of the Company for periods up to and including the Closing to extent the Seller reasonably determines in good faith that it needs access to such records; provided,
however, that (A) such access does not unreasonably disrupt the normal operations of the Company, and (B) any such access shall be conducted at the expense of such Seller; provided further that such
Seller may be required to executed and deliver a customary confidentiality agreement with respect to such materials. 
 7.2
Confidentiality. 
 During the Restricted Period (as defined below), each Seller shall treat and hold as confidential all
of the Confidential Information and refrain from disclosing or using any of the Confidential Information except in connection with this Agreement. In the event that any Seller (or any officer or director thereof) is requested or required (by oral
question or request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar process) prior to the end of the Restricted Period, to disclose any Confidential Information, such Seller shall
notify the Purchaser promptly of the request or requirement so that the Purchaser may seek an appropriate protective order or waive compliance with the provisions of this Section 7.2. If, in the absence of a protective order or the
receipt of a waiver hereunder, any Seller (or any officer or director thereof) is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal or else stand liable for contempt, such Seller (or any

  
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officer or director thereof) may disclose the Confidential Information to the tribunal; provided, however, that such Seller (or any officer or director thereof) shall use his or its
reasonable best efforts to obtain, at the request of the Purchaser an order or other assurance that confidential treatment will be accorded to such portion of the Confidential Information required to be disclosed as the Purchaser shall designate.
Upon consummation of the transactions contemplated by this Agreement, each Seller shall, and shall cause its Affiliates, advisors, agents and representatives to deliver promptly to Purchaser, at the request and option of Purchaser, all tangible
embodiments (and all copies) of such Confidential Information which are in such Seller’s possession or under such Seller’s control or, if Purchaser shall expressly permit, certify to Purchaser in writing that any such Confidential
Information in such Seller’s possession or under such Seller’s control has been destroyed, provided that notwithstanding the above or anything else to the contrary contained in this Agreement, the Sellers shall be permitted to retain and
use (both before and after Closing), without limitation, any Confidential Information that pertains to the Excluded Assets. 

7.3 Restrictive Covenants. 
 Sellers acknowledge and agree that substantial and valuable assets which belong to the Company include the trade names, Confidential Information, relationships with customers, and associated goodwill of
the Company, and that the relationships which the Company has with its employees, vendors and agents are significant business relationships necessary for Company to continue to conduct the Business and that the Company shall be primarily engaged in
conducting the Business throughout the world. The Sellers further acknowledge and agree that the Company has a reasonable, necessary and legitimate business interest in protecting the aforesaid assets, relationships and businesses, and that the
covenants set forth below are reasonable and necessary in order to protect these legitimate business interests. The Sellers further acknowledge and agree that the payment at Closing of the portion of the Purchase Price due at Closing shall
constitute, among other things full consideration for such covenants, and the associated goodwill of the Company, and that the failure to pay any other portion of the Purchase Price shall not relieve any Seller from such Seller’s obligations
pursuant to such covenants. In addition, the Sellers acknowledge and agree that monetary damages will not be an adequate remedy for any material breach of any of their covenants contained in this Section 7.3, and that irreparable injury
may result to the Company or its successors in interest in the event of any such material breach. Accordingly, subject to Section 7.3(f) below, each Seller agrees to the following restrictions: 

(a) Each Seller will not, directly or indirectly (including through any other Seller), use or grant to any Person the right to use at any
time, the trade names set forth in Schedule 7.3(a), or any similar names, juxtapositions or derivations thereof, without the prior written consent of the Company. 
 (b) Each Seller agrees that from and after the Closing Date and continuing for five (5) years from the Closing Date (the “Restricted Period”), such Seller shall not, and shall cause
each of its Affiliates not to, directly or indirectly, either for himself or through any other Person, as an employee, agent, consultant, director, equityholder, manager, co-partner or in any other individual or representative capacity, own,
operate, manage, control, engage in, invest in, 

  
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be employed by or participate in any manner in, act as a consultant or advisor to, render services for (alone or in association with any Person), permit such party’s name to be used by any
enterprise that engages in or participates in, or otherwise assist any Person that engages in the Business or owns, invests in, operates, manages or controls any venture or enterprise that directly or indirectly engages in the Business anywhere in
the world. 
 (c) Without limiting the generality of the provisions of Section 7.3(b), each Seller hereby agrees
that during the Restricted Period such Seller will not, and shall cause each of his Affiliates not to, directly or indirectly, as employee, agent, consultant, director, equityholder, manager, co-partner or in any other capacity without the
Purchaser’s prior written consent, (i) solicit business from any Person which is or was a client, customer, supplier, licensee, licensor or other business relation of the Company during the one (1) year period preceding the Closing
Date, or from any successor in interest to any such Person, in any case for the purpose of securing business or contracts related to the Business or (ii) encourage, initiate or participate in discussions or negotiations with, provide any
information to any Person which is or becomes an acquisition target, client, customer, supplier, licensee or licensor of the Business (including any Person engaged in discussions with the Company related to such Person becoming a client, customer,
supplier, licensee or licensor of the Business) with respect to the termination or other alteration of such Person’s relationship (or potential relationship) with the Purchaser, the Company or the Business; provided for the purposes of clarity,
that nothing contained in this Section 7.3(c) shall prohibit or restrict any Seller from contacting or soliciting any of the foregoing persons in respect of any business other than the Business. 

(d) During the Restricted Period, each Seller shall not, and shall cause each of his Affiliates not to, directly or indirectly, as
employee, agent, consultant, director, equityholder, manager, co-partner or in any other capacity without the prior written consent of the Purchaser, employ, engage, recruit or solicit for employment or engagement (other than by a general
solicitation advertisement, posting or similar job solicitation process not targeting the employees of the Company), any Person who is (or was during the one (1) year period preceding the Closing Date) employed or engaged by the Company,
or otherwise seek to interfere with, influence or alter any such Person’s relationship with any of the foregoing, provided that Sellers shall be permitted, and nothing contained in this Section 7.3(d) shall limit or restrict
the ability of Sellers, to (i) solicit and or hire former employees of the Company whose employment with the Company has been terminated without cause by the Company (including those not retained by the Company following the Closing),
(ii) hire any Person who has not been an employee of the Company for a period of 6 months prior thereto and who independently contacts any Seller for employment, provided that such contact does not follow any activity by any Seller that
violates the provisions of this section, or (iii) solicit and hire any family members of any Seller. 
 (e) Each Seller
acknowledges and agrees that the territorial, time and scope limitations set forth in this Section 7.3 are reasonable and are properly required to protect the Purchaser’s substantial investment hereunder and for the protection of
the Purchaser’s legitimate interest in client relationships, goodwill and trade secrets of the Company’s businesses, and that such limitations would not impose any undue burden upon such Seller. In the event that any such territorial, time
or scope limitation is deemed to be invalid, prohibited or unenforceable by a court of competent jurisdiction, the Purchaser and each of the Sellers agree, and each of the 

  
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Sellers submit, to the reduction of any or all of said territorial, time or scope limitations to such an area, period or scope as said court shall deem reasonable or enforceable under the
circumstances. If such partial enforcement is not possible in such jurisdiction, the provision shall be deemed severed as to such jurisdiction, and the remaining provisions of this Agreement shall remain in full force and effect and this provision
shall remain in full force and effect as set forth herein with respect to all other jurisdictions. 
 (f) Notwithstanding
anything to the contrary contained herein, nothing contained in this Agreement shall be construed to prevent a Seller from (and the Sellers shall be permitted without restriction to perform such activities), (i) investing in the stock of any
competing Person listed on a national securities exchange or traded in the over the counter market so long as such Seller is not involved in the business of such Person and such Seller does not own more than five percent (5%) of the equity of
such Person, (ii) subject to the terms of the Clementi Pail License Agreement, after the expiration of the Pail Negotiation Period, engaging in business activities solely to the extent related to the manufacturing, distribution, sale and or
licensing of the Clementi Pail, provided that with respect to the design of the Clementi Pail, such activities permissible under this clause (ii) shall be limited to the designs embodied in the claims of the patents set forth in Table 1 of the
definition of the Clementi Pail below subject to changes or modifications to the Clementi Pail that do not materially alter such designs embodied therein, (iii) engaging in business activities that are unrelated to the Business and do not
violate the provisions of this Section 7.3 and/or (iv) retaining and using any Confidential Information pertaining to the Excluded Assets. 
 7.4 Tax Matters. 
 Notwithstanding anything in this Agreement to the
contrary, the following provisions shall govern the allocation of responsibility as between the Sellers and Purchaser for Tax matters following the Closing Date. 
 (a) Pre-Closing Taxes. Sellers shall remain liable and shall jointly and severally indemnify and hold Purchaser Indemnified Parties harmless from and against any Loss attributable to (i) all
Income Taxes (or the non-payment thereof) of or arising with respect to the Company for all Pre-Closing Tax Periods, (ii) any and all Income Taxes of any member of an Affiliated Group of which the Company is or was a member on or prior to the
Closing Date and (iii) any and all Income Taxes of any Person imposed on either Company as a transferee or successor, by contract or pursuant to any law, rule or regulation, which Income Taxes relate to an event or transaction occurring prior
to the Closing Date. The Seller Representative (on behalf of the Sellers) shall reimburse Purchaser for any Taxes of the Company or other amounts that are the responsibility of Sellers pursuant to this Section 7.4(a) within
fifteen (15) days after receiving notice from Purchaser that payment of such Taxes has either been made or will be made by Purchaser or the Company. If the Company, or Purchaser, receives (A) any actual cash refund of Taxes paid with
respect to a Pre-Closing Tax Period that is not generated by the carryback of an item arising in a period after the Closing (a “Post-Closing Tax Period”) or (B) an abatement of or credit against Taxes attributable to a
Pre-Closing Tax Period that results in an actual reduction of the cash Tax liability of the Company with respect to a Post-Closing Tax Period calculated by the difference between the Company’s cash Tax liability with respect to such
Post-Closing Tax 

  
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Period taking such abatement or credit into account and the Company’s cash Tax liability for such period without taking such abatement or credit into account, then the Company and or
Purchaser shall promptly remit a cash payment to the Seller Representative in the amount of any such cash Tax refund or reduction in cash Tax liability for a Post-Closing Tax Period. 

(b) Straddle Period Allocation. In the case of any taxable period that includes (but does not end on) the Closing Date (a
“Straddle Period”), (i) the amount of any Income Taxes for the Pre-Closing Tax Period shall be determined based on an interim closing of the books as of the close of business on the Closing Date (and for such purpose, the
taxable period of any partnership or other pass-through entity in which either Company holds a beneficial interest shall be deemed to terminate at such time) and (ii) the amount of any other Taxes for the Pre-Closing Tax Period shall be deemed
to be the amount of such other Taxes for the entire taxable period multiplied by a fraction the numerator of which is the number of days in the taxable period ending on the Closing Date and the denominator of which is the number of days in such
Straddle Period. 
 (c) Tax Return Preparation. Purchaser shall prepare or cause to be prepared and file or cause to be
filed all Tax Returns for the Company that are filed after the Closing Date. Purchaser shall present, or shall cause to be presented, to the Seller Representative for its review and comment any such Income Tax Return that is with respect to a
Pre-Closing Tax Period within thirty (30) days prior to the filing of such Tax Return and, to the extent permitted by applicable Law, Sellers shall include any income, gain, loss, deduction or other tax items shown on such Tax Returns on
Sellers’ Income Tax Returns. Each of the Purchaser and the Company shall provide to Sellers all information in its possession and under its control which is reasonably necessary for Sellers to file such Tax Returns. 

(d) §338(h)(10) Election. 
 (i) At Purchaser’s election, the Company and each Seller shall join with Purchaser in making an election under Section 338(h)(10) of the Code (and any corresponding election under state, local,
and non-U.S. tax law) with respect to the purchase and sale of the Company’s capital stock hereunder (collectively, a “§338(h)(10) Election”). The Purchaser shall prepare Internal Revenue Service Form 8023 with
respect to the Company, and such other forms and schedules as are necessary or required to make the §338(h)(10) Election, and each Seller shall execute said Form 8023 and shall take all such other acts as are necessary to make or perfect
such §338(h)(10) Election as requested by the Purchaser promptly, but in any event within ten (10) days, after written request therefor. Sellers shall include any income, gain, loss, deduction, or other tax item resulting from the
§338(h)(10) Election on their Tax Returns to the extent required by applicable Law. 
 (ii) At least
thirty (30) days prior to filing any 338(h)(10) Election, the Purchaser shall prepare a statement (the “Proposed 338(h)(10) Statement”) showing, with respect to any Seller, the amount by which the Purchaser believes the Income
Tax Liabilities of such Seller would, if a §338(h)(10) Election is so made, exceed the amount of Income Tax Liability that such Seller would incur if no such §338(h)(10) Election is made. The Sellers will cooperate with Purchaser in
preparing the Proposed 338(h)(10) 

  
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Statement, including providing any Tax basis or available tax loss information promptly following request thereafter. For purposes of preparing the Proposed 338(h)(10) Statement and the Final
338(h)(10) Statement, the parties shall when calculating the estimated Income Tax Liabilities of a Seller if a §338(h)(10) Election is so made, include any additional taxes that would be imposed on the increased income resulting from the
related reimbursement in accordance with clause (iv) below. The Seller Representative shall have twenty (20) Business Days following delivery of the Proposed 338(h)(10) Statement during which to notify Purchaser in writing (a
“Notice of Objection”) of any objections to the Proposed 338(h)(10) Statement, setting forth in reasonable detail the basis of its objections. If the Seller Representative fails to deliver a Notice of Objection in accordance with
this Section 7.4(d)(ii), the Proposed 338(h)(10) Statement shall be conclusive and binding on all parties and shall become the “Final 338(h)(10) Statement.” If the Seller Representative submits a Notice of Objection,
then (i) for fifteen (15) days after the date Purchaser receives the Notice of Objection, the Seller Representative and Purchaser shall negotiate in good faith to resolve such disagreement and (ii) failing such agreement within
ten (10) days of such notice, the matter will be resolved in accordance with Section 7.4(d)(iii). 
 (iii) Any amounts remaining in dispute at the conclusion of the ten (10) day negotiation period that were properly included in the Notice of Objection (the “Unresolved Changes”)
shall be submitted to RSM McGladrey, Inc. or such other accounting or financial services firm as the Parties shall otherwise agree (the “Expert”). The Expert shall be instructed to determine its best estimate of the Final 338(h)(10)
Statement based on its determination of the Unresolved Changes and provide a written description of the basis for its determination of the allocations therein within ten (10) days after the matter has been submitted to the Expert, which written
determination shall be final, binding and conclusive on the Parties and shall be included in the Final 338(h)(10) Statement. The fees and expenses of the Expert (i) shall be borne by the Seller Representative (on behalf of the Sellers), in the
proportion that the aggregate dollar amount of Unresolved Changes submitted thereto for resolution that are unsuccessfully disputed by the Seller Representative (as finally determined by the Expert) bears to the aggregate dollar amount of such
submitted Unresolved Changes and (ii) shall be borne by the Purchaser in the proportion that the aggregate dollar amount of Unresolved Changes submitted thereto for resolution that are successfully disputed by the Seller Representative (as
finally determined by the Expert) bears to the aggregate dollar amount of such submitted Unresolved Changes. 

(iv) If a §338(h)(10) Election is made, then the Purchaser shall pay as an addition to the Purchase Price an amount
of cash to the Seller Representative equal to the aggregate amount by which the Sellers’ Income Tax Liability exceeds the amount of Income Tax Liability that the Sellers would have incurred if no Section 338(h)(10) Election had been made,
as shown on the Final 338(h)(10) Statement, which statement shall, for the avoidance of doubt, take into account the deductibility of state and local Taxes for U.S. federal Income Tax purposes and shall include any Tax liability on the “gross
up” amounts payable hereunder as stated in Section 7.4(d)(ii) (this shall be an ongoing payment obligation of Purchaser that also applies with respect to any Sellers’ 

  
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Income Tax Liability arising in the future as a direct result of a final determination by a tax authority with respect to the income or operations of the Company at any time following the
Closing). Such payment shall be made within five (5) days after the §338(h)(10) Election is filed. The Sellers acknowledge and agree that the mechanism provided for in this Section 7.4(d) shall be the sole and exclusive remedy
with respect to any incremental Taxes that may be imposed on the Sellers as a result of the 338(h)(10) Election. In no event shall the Purchaser’s obligations under this Section 7.4(d) limit, prejudice or restrict any Purchaser
Indemnified Party’s rights under Article VI. 
 (e) Purchase Price Allocation. If a §338(h)(10)
Election is made, Purchaser, the Company and Sellers agree that the Purchase Price and the Liabilities of the Company (plus other relevant items) will be allocated to the assets of the Company and to the non-compete obligations of the Sellers
hereunder for all Tax purposes in a manner consistent with Sections 338 and 1060 of the Code and the regulations promulgated thereunder as reasonably determined by the Purchaser (the “Allocation”), which Allocation shall be
presented to the Seller Representative for its review and consent. Any disputes shall be resolved mutatis mutandis in the manner described in Section 7.4(d)(ii) and Section 7.4(d)(iii) as if the Allocation were the
Proposed Section 338(h)(10) Statement. Sellers, the Company and the Purchaser agree to prepare and file an IRS Form 8594 or such other form or statement as may be required by applicable Law, and any comparable state or local income Tax
form, in a manner consistent with the Allocation. The Purchaser, the Company and Sellers shall file all Tax Returns (including amended returns and claims for refund) and information reports and communicate with taxing authorities in a manner
consistent with such values and allocation. If any adjustments are made to the Purchase Price after the Allocation is otherwise final, the parties agree to cooperate in updating the Allocation, which Allocation shall be binding on the parties.

 (f) Cooperation on Tax Matters. 

(i) Purchaser, the Company and Sellers shall cooperate fully, as and to the extent reasonably requested by the other
party, in connection with the filing of Tax Returns and any audit, litigation or other proceeding with respect to Taxes. Such cooperation shall include the retention and (upon the other party’s request) the provision of records and information
reasonably relevant to any such audit, litigation, or other proceeding and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. The Company, Sellers, and
Purchaser agree (A) to retain all books and records with respect to Tax matters pertinent to the Company relating to any taxable period beginning before the Closing Date until expiration of the statute of limitations (and, to the extent
notified by Purchaser or Sellers, any extensions thereof) of the respective taxable periods, and to abide by all record retention agreements entered into with any taxing authority, and (B) to give the other party reasonable written notice prior
to transferring, destroying or discarding any such books and records. 
 (ii) Purchaser and Sellers further
agree, upon the written request of the other, to use their commercially reasonable efforts to obtain any certificate or other document from any Governmental Entity or any other Person as may be necessary to

  
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mitigate, reduce or eliminate any Tax that could be imposed (including with respect to the transactions contemplated hereby). 

(iii) The Purchaser and the Sellers further agree, upon request, to provide each other party all information that the
other parties may be required to report pursuant to Sections 6043 and 6043A of the Code and all Treasury Regulations promulgated thereunder. 
 (g) Tax-Sharing Agreements. All Tax-sharing agreements or other similar agreements with respect to or involving the Company shall be terminated as of the Closing Date and, after the Closing Date,
the Company shall not be bound thereby or have any liability thereunder. 
 (h) Transfer Taxes. All liabilities for
sales, use, value-added, registration, documentary, stamp and transfer Taxes, recording charges and similar Taxes, fees or charges imposed on the Company, and not resulting from the Purchaser’s (or any of its Affiliates’) status as a buyer
hereunder, as a result of the consummation of the transactions contemplated by this Agreement (collectively, the “Transfer Taxes”), together with any interest, penalties or additions to such Transfer Taxes, shall be paid by the
Sellers. Purchaser and the Seller Representative shall cooperate in filing all necessary Tax Returns under applicable Law with respect to Transfer Taxes. 
 7.5 Seller Representative. 
 (a) Each Seller hereby irrevocably appoints
John R. Clementi (the “Seller Representative”) as such Seller’s representative, attorney-in-fact and agent, with full power of substitution to act in the name, place and stead of such Seller, to act on behalf of such
Seller after the Closing in any amendment of or litigation or arbitration involving this Agreement or the Escrow Agreement, and to do or refrain from doing all such further acts and things, and to execute all such documents, as the Seller
Representative shall deem necessary or appropriate after the Closing, including the power (i) to give and receive all notices and communications to be given or received under this Agreement and to receive service of process in connection with
any claims under this Agreement, including service of process in connection with arbitration, and (ii) to take all actions which under this Agreement may be taken by the Sellers and to do or refrain from doing any further act or deed on behalf
of the Sellers which the Seller Representative deems necessary or appropriate in its sole discretion relating to the subject matter of this Agreement as fully and completely as such Sellers could do if personally present, including settling or
resolving any claims under Section 1.4 or Article VI hereof. 
 (b) The Seller Representative will not
be liable for any act taken or omitted by it as permitted under this Agreement or the Escrow Agreement (including the execution of instructions to the Escrow Agent instructing the Escrow Agent to distribute funds to any Person as described herein),
except if taken or omitted in bad faith or by willful misconduct. The Seller Representative will also be fully protected in relying upon any written notice, demand, certificate or document that it in good faith believes to be genuine (including
facsimiles thereof). 

  
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 (c) The Sellers agree, severally (based on their respective Pro Rata Shares) but not
jointly, to indemnify the Seller Representative for, and to hold the Seller Representative harmless against, any Loss, Liability or expense incurred without willful misconduct or bad faith on the part of the Seller Representative, arising out of or
in connection with the Seller Representative’s carrying out its duties under this Agreement, the Escrow Agreement or any related agreement, including costs and expenses of successfully defending the Seller Representative against any claim of
liability with respect thereto. The Seller Representative may consult with counsel of its own choice and will have full and complete authorization and protection for any action taken or suffered by it in good faith and in accordance with the opinion
of such counsel. 
 (d) Notwithstanding anything in this Agreement to the contrary, nothing in this Section 7.5
shall release or hold harmless any Seller or the Seller Representative from their obligations to the Purchaser under this Agreement, or otherwise operate to the detriment of the Purchaser or the Purchaser’s rights under this Agreement.

 (e) The Purchaser and the Purchaser Indemnified Parties shall be entitled to rely upon any action taken and any agreements or
amendments entered into by the Seller Representative in its capacity as such, and shall have no liability or obligation to any Seller in respect thereof. 
 7.6 Release. 
 Each Seller hereby unconditionally and irrevocably acquits,
remises, discharges and forever releases the Purchaser, the Company and their respective Affiliates, partners, managers, trustees, employees, officers, directors and agents (collectively, the “Releasees”) from any and all
Liabilities, Losses and obligations of every kind whatsoever, whether accrued or fixed, absolute or contingent, matured or unmatured or determined or determinable, including those arising under any Law, contract, agreement, arrangement, commitment
or undertaking, whether written or oral to the extent arising on or prior to the date hereof; provided that Liabilities and obligations acquitted, remised, discharged and released pursuant to this Section 7.6 shall not include
(i) any rights of a Seller under this Agreement and other documents and agreements executed in consummation of the transactions contemplated by this Agreement, (ii) accrued and unpaid salary owing to a Seller for the pay period that
includes the Closing Date, (iii) unpaid benefits of a Seller accrued under each Employee Plan, to the extent such benefits have accrued prior to the Closing Date, (iv) rights of a Seller to reimbursement of business expenses of incurred in
the ordinary course of business and the policies and practices of the Company, as applicable, and (v) rights of a Seller pertaining to Excluded Assets. Without limiting the generality of the foregoing, each Seller hereby specifically consents
to and waives any and all Liability on the part of the Releasees for (i) the transfer of the Excluded Assets by the Company as directed by the Seller Representative, (ii) the rights of the Seller Representative, including to purchase the
Purchase Option Machines, hereunder, and (iii) the payment in respect of such Seller’s Shares and other amounts due to such Seller hereunder from the Seller Representative following the payment of the Purchase Price to the Seller
Representative in accordance with the terms hereof, including how such payments are made or not made to such Seller by the Seller Representative. 

  
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 7.7 Transition. 

(a) Employment. In order to assist with an orderly transition, among other things, the Purchaser agrees that it and the Company,
following Closing, shall: (i) retain the Seller Representative as an employee at his current salary with the exclusive right to access and use his existing office space, (ii) retain secretary of the Seller Representative as an employee at
her current salary with the right to access and use her existing office space, and (iii) provide the Seller Representative and his secretary with related administrative services provided to all employees generally, in each case, through
December 31, 2010 or such later date as may be mutually extended by parties; provided that Seller Representative shall not be entitled to any separation pay, severance or similar payments upon the termination of such relationship with the
Company. The Seller Representative shall only be expected to work on a limited basis and be available during normal business hours in person or by phone to consider questions of Purchaser regarding the transition of the Business. 

(b) Machines; Clementi Automobile. 
 (i) In addition, the Purchaser hereby acknowledges and agrees that the Seller Representative shall have the option, which may be exercised by him at anytime during the ninety (90) days following the
Closing, to purchase the Purchase Option Machines by the payment of $66,738.04 (which represents the aggregate net book value of both such machines) to the Company. If the Seller Representative exercises such right, he shall notify the Company of
the same and pay the required amount during such ninety (90) day period, and thereafter the Seller Representative shall be entitled, at no rental or similar cost or expense, to keep the Purchase Option Machines at the Company’s facility
located at 4101 West Buckeye Road, Phoenix, Arizona and access such machines during normal business hours upon prior notice to inspect and/or remove the equipment, but not to operate the equipment; provided that neither the Purchaser, the
Company nor any other Releasee shall have any Liability with respect to the Purchase Option Machines after the exercise of the purchase option, other than for damage to the Purchase Option Machines caused by the gross negligence of such Releasee
and, in such case, the maximum liability of all Releasees in the aggregate shall not exceed the net book value of such Purchase Option Machine; provided further that, unless otherwise consented by the landlord for such facility, the
Purchase Option Machines shall be removed from the premises on or prior to the date that the Company’s lease for such facility expires, at the Seller Representative’s sole cost, expense and risk and shall indemnify the Releasees for any
damage to the facilities related to such Purchase Option Machines. If the Seller Representative exercises the purchase option in accordance with the above, the Purchaser agrees to cause the Company, and the Company agrees to, execute such bill of
sale and other assignment related documents, and provide any related lien releases necessary and reasonably required by the Seller Representative to effectuate the transfer of the title free and clear of liens to the Seller Representative. Any such
transfer shall be made on an “as-is, where-is” basis without representation or warranty and any transfer of the Purchase Option Machines shall be at the sole cost and expense of the Seller Representative. From and after the date that the
purchase option is exercised, the Purchased Option Machines shall be Excluded Assets hereunder. 

  
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 (ii) The parties acknowledge that, prior to the Closing, the Company leased
an automobile for use by the Seller Representative as described in that certain Lease Agreement (the “Auto Lease”), dated as of April 28, 2010, by and between the Company and Mercedes-Benz Financial (the “Leased
Automobile”) and made all lease payments and pay all insurance premiums with respect thereto. The parties hereto hereby acknowledge and agree that, on and after the Closing, Seller Representative shall, at his own cost, expense and risk,
retain the Leased Automobile. Without limiting the generality of the foregoing, the Seller Representative acknowledges and agrees that (A) he shall assume all responsibilities and obligations of the Company under the Auto Lease and otherwise
with respect to the Leased Automobile, including the payment of any insurance premiums with respect thereto, (B) he shall cause there to be sufficient insurance on the Leased Automobile, (C) the Company shall not be responsible for any
Liabilities with respect to the Leased Automobile after the Closing and (D) he shall hold the Company harmless with respect to any Liabilities incurred by the Company with respect to or by reason of the Leased Automobile. The parties hereto
agree to take, or cause to be taken all action, and to do, or cause to be done all things reasonably necessary to transfer and assign the Auto Lease from the Company to the Seller Representative as promptly as practicable after the Closing Date.

 (iii) The Purchaser agrees that it shall cause to be removed from the Company’s former facility located
at 25 Tucker Drive, Leominster, MA 01453 those certain machines listed on Exhibit F hereto at Purchaser’s own expense on the date that is the later of 90 days after the Closing or 30 days following receipt by the Purchaser of
written notice of a sale of such facility. 
 (c) Salary Continuation Agreements and Split Dollar Life Insurance. The
Purchaser acknowledges that the Company has made its best good faith efforts to induce the Purchaser to assume the SC/SD Plan and the obligations thereunder. The Purchaser has elected not to assume the SC/SD Plan or any obligations thereunder.
Therefore, the parties hereto acknowledge and agree as follows: 
 (i) Notwithstanding anything herein to the
contrary, the SC/SD Plan and benefits and obligations with respect thereto are, for the avoidance of doubt, collectively deemed to be Excluded Assets and Excluded Liabilities hereunder. Without limiting the generality of the foregoing and for the
avoidance of doubt, to the extent that the aggregate amount by which the holdback from the Purchase Price is not sufficient to pay all Liabilities related to the SC/SD Plan that are not paid with proceeds of the Purchase Price, the Purchaser
Indemnified Parties shall have all indemnification rights hereunder with respect to such as Excluded Liabilities. 
 (ii) The participants in the SC/SD Plan listed on Schedule 7.7(c)(ii) have not yet reached the age of 65 or otherwise have not begun, and were not yet entitled to begin to, receive salary
continuation payments or any other benefits under the SC/SD Plan as of the Closing Date. The Company has caused each such participant’s respective Salary Continuation Agreements to be terminated in accordance with their terms upon, and subject
only to, the consummation of the Closing and related payments, and the 

  
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Company shall (1) repay the outstanding loans with respect to the split dollar life insurance policies of such individuals (such payments to be made with Purchase Price proceeds at the
Closing), and (2) transfer each respective split dollar life insurance policy to such individuals as required by the split dollar life insurance agreements in full satisfaction of the Company’s obligations under the SC/SD Plan. The
payments and transfers described in the preceding sentence shall be made on or as soon as practicable following the Closing Date (but in any event not later than the Company’s second payroll date following the Closing Date), provided such
timing limitation shall not apply with respect to the policy transfers if the Company has executed the same and is diligently tracking down the execution of the assignment forms by the applicable participant). 

(iii) The participants in the SC/SD Plan listed on Schedule 7.7(c)(iii) have reached the age of 65 or
otherwise began, or were entitled to begin, to receive salary continuation payments or other benefits under the SC/SD Plan as of the Closing Date. With respect to each such participant the Company (x) has received an executed termination
agreement from each such participant as previously delivered to the Purchaser and (y) will (1) pay such participant a lump sum payment equal to the present value of the outstanding payments required to be made under their respective Salary
Continuation Agreements, less applicable taxes (such payments to be made with Purchase Price proceeds in accordance with this paragraph) and in full satisfaction of the Company’s obligations under the SC/SD Plan; and (2) surrender each of
the split dollar life insurance policies held by the Company (and not required to be assigned in accordance with clause (ii) above) to obtain the cash surrender value therefor. With respect to the amount required to be paid under
clause (1) of the immediately preceding sentence, the Company shall be entitled to set aside from the Purchase Price proceeds in an amount equal to all Liabilities related to its obligations under this Section 7.7(c)(iii), and the
Company will promptly on or after the Closing (and in any event not later than the second payroll date for the Company after the Closing) cause ADP to deliver checks to each participant for the respective amount to which such participant is
entitled; and upon the Company’s receipt of any and all cash surrender value amounts to be paid to the Company under clause (2) of the immediately preceding sentence, the Company will promptly (and in any event within five
(5) Business Days after the receipt of such cash surrender value amounts) wire such amount to the Seller Representative, less any amount by which the Liabilities related to its obligations under this Section 7.7(c)(iii) exceeded the
holdback amount from the Purchase Price in respect of such obligations. 
 (iv) In connection with and following
the execution hereof and the Closing, the Purchaser, the Company, and/or the Seller Representative shall execute and or deliver any documents that may be required to effectuate the covenants and requirements set forth above. 

(d) Reserves. To the extent that after the Closing, the Company receives any return or refund of any amount included in the
computation of Closing Indebtedness, the Company shall promptly (in any event within five (5) Business Days after its receipt of such amounts) wire such amount or refund to the Seller Representative, but only to the extent that such amount or
refund was not included as a current asset or contra-liability in the computation 

  
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of Closing Net Working Capital. The Seller Representative shall reimburse the Company for any actual out of pocket cost or expense reasonably incurred by the Company in collecting such refund or
other amount. 
 7.8 Clementi Pail. 
 Notwithstanding anything to the contrary contained herein: (i) the parties hereto agree that the Company does not own any proprietary rights in the Clementi Pail and following the Closing, shall not
retain any interest of any kind in or other right to use the Clementi Pail, and (ii) the Purchaser shall not at any time, on behalf of the Company, itself or otherwise, pursue, assert or make any claim that it or the Company has any proprietary
right, right to use or other interest in the Clementi Pail of any kind (with it being understood and agreed that to the extent the Purchaser and/or the Company has any such claims, each hereby expressly waives and releases the same), except in each
such case any rights or claims that the Company and/or any of its Affiliates may have pursuant to a license agreement to be entered into between the Seller Representative and the Company and/or one or more of its Affiliates after the Closing (the
“Clementi Pail License Agreement”). Each of the Company and the Seller Representative agrees, during the 150-day period after the Closing Date (the “Pail Negotiation Period”), to negotiate the Clementi Pail License
Agreement in good faith. Among other things, any such Clementi Pail License Agreement shall provide that the Company and its Affiliates shall license the Clementi Pail (and all Intellectual Property related thereto) from the Seller Representative on
an exclusive basis for a royalty payment equal to $0.035 per Clementi Pail sold by the Company and its Affiliates during the term of the Clementi Pail License Agreement and which may include a provision pursuant to which the exclusivity of such
license may terminate if the aggregate royalty payments are less than a mutually agreed-upon amount during the term of the Clementi Pail License Agreement. 
 7.9 Post-Closing Operation of the Company. 
 Other than the obligations and
Liabilities with respect to which the Purchaser Indemnified Parties have right to indemnification hereunder, the Company shall remain responsible for its own obligations and Liabilities to the extent arising from the operation of the Business from
and after the Closing. 
 ARTICLE VIII 
 Definitions 
 8.1 Definitions. 

The terms defined in Exhibit A hereto, whenever used herein, shall have meanings set forth on Exhibit A for all
purposes of this Agreement. The definitions on Exhibit A are incorporated into this Agreement as if fully set forth at length herein and all references to a section in such Exhibit A are references to such section of this
Agreement. 
 8.2 Usage. 

  
 - 50 -

 (a) Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 
 (b) The word “will” shall be construed to have the same meaning and effect as the word “shall.” 
 (c) The word “or” shall not be exclusive. 
 (d) The
phrase “to the extent” shall mean the degree to which a subject or other matter extends, and such phrase shall not simply mean “if.” 
 (e) The words “hereof”, “herein”, “hereto”, and “hereunder”, and words of similar import, shall refer to this Agreement as a whole and not any particular provision
of this Agreement, 
 (f) Words denoting any gender shall include all genders. Where a word is defined herein,
references to the singular shall include references to the plural and vice versa. 
 (g) A reference to any party
to this Agreement or any other agreement or document shall include such party’s successors and permitted assigns. 
 (h) All references to “$” and dollars shall be deemed to refer to United States currency unless otherwise specifically provided. 

(i) All references to a day or days shall be deemed to refer to a calendar day or calendar days, as applicable, unless
otherwise specifically provided. 
 ARTICLE IX 
 Miscellaneous 
 9.1 Fees; Expenses. 

The Purchaser will be responsible for all costs and expenses incurred by the Purchaser and its Affiliates in connection with the
negotiation, preparation and entry into this Agreement and the consummation of the transactions contemplated hereby; provided that such costs and expenses may be paid by the Company if the transactions contemplated hereby are consummated and
such expenses of the Purchaser shall not be used in calculating any purchase price adjustments hereunder. The Sellers will be responsible for all costs and expenses incurred by the Company or the Sellers in connection with the negotiation,
preparation and entry into this Agreement and the consummation of the transactions contemplated hereby (to the extent that any such amount is not included in Closing Indebtedness). Each Seller will be solely responsible for all costs and expenses
incurred by such Seller in connection with the negotiation, preparation and entry into this Agreement and the consummation of the transactions contemplated hereby. 
 9.2 Remedies. 

  
 - 51 -

 Except as expressly provided in this Agreement, the parties hereto shall be entitled to
enforce any rights under any provision of this Agreement specifically (without posting a bond or other security) and to exercise all other rights granted by Laws. All such rights and remedies shall be cumulative and non-exclusive, and may be
exercised singularly or concurrently. Each party hereby agrees that if any of the provisions of this Agreement were not performed by the other parties in accordance with their specific terms or were otherwise breached by the other parties:
(a) irreparable damage would occur to the complaining party, (b) no adequate remedy at law would exist and damages would be difficult to determine and (c) that the complaining party shall be entitled to specific performance of the
terms hereof. 
 9.3 Public Announcements. 
 No party will issue any press release or other public announcement relating to the subject matter of this Agreement or the transactions contemplated hereby without the approval of the Purchaser and the
Seller Representative, other than the press release attached hereto as Exhibit D. Notwithstanding the foregoing, Purchaser and Sellers shall be allowed to disclose (a) the fact that the transactions contemplated hereby were
consummated and (b) the terms of this Agreement and the terms of the transactions contemplated hereby (i) to representatives and employees of Purchaser and its Affiliates (including from and after the Closing, the Company), (ii) to
its and its Affiliates’ investors in connection with summary information about Purchaser’s or any of Purchaser’s Affiliates financial condition, (iii) to any of Purchaser’s Affiliates, auditors, attorneys, financing sources,
potential investors or other agents or any other Person to whom Madison Dearborn Partners, LLC discloses such information in the ordinary course of business, (iv) following the Closing to any bona fide prospective purchaser of the equity or
assets of Purchaser or its Affiliates, and (v) as required to be disclosed by order of a court of competent jurisdiction, administrative body or governmental body, or by subpoena, summons or legal process, or by law, rule or regulation or as
part of any SEC filing required to be made by such party or any of such party’s Affiliates; provided that in the case of disclosures made pursuant to clauses (i) through (iv) of this Section 9.3, the recipient is
bound by confidentiality obligations with respect thereto or the recipient is informed of the confidential nature of such information; provided further that no disclosure of the Purchase Price shall be made pursuant to clause (v) of this
Section 9.3, except as part of any SEC filings required to be made by a party or such party’s Affiliates, unless the other party is provided with advanced written notice of the disclosure and provided with a reasonable opportunity
to review and comment on such disclosure. Madison Dearborn Partners, LLC shall be allowed to issue general press releases in the ordinary course of business so long as the same are in compliance with this Agreement. 

9.4 Consent to Amendments; Waivers. 
 This Agreement may be amended, or any provision of this Agreement may be waived upon the approval, in a writing, executed by the Purchaser and the Seller Representative. No course of dealing between or
among the parties hereto shall be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any such party under or by reason of this Agreement. A waiver by any party of any term or condition of this
Agreement in any one instance shall not be deemed or construed to be a waiver of such term or 

  
 - 52 -

 
condition for any other instance in the future (whether similar or dissimilar) or of any subsequent breach hereof. 
 9.5 Successors and Assigns. 
 This Agreement and all covenants and
agreements contained herein and rights, interests or obligations hereunder, by or on behalf of any of the parties hereto, shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto whether so
expressed or not, except that neither this Agreement nor any of the covenants and agreements herein or rights, interests or obligations hereunder may be assigned or delegated by the Sellers, without the prior written consent of the Purchaser, and
neither this Agreement nor any of the covenants and agreements herein or rights, interests or obligations hereunder may be assigned or delegated by the Purchaser without the prior written consent of the Seller Representative; provided that
the Purchaser may assign its rights under this Agreement to (a) any Affiliate of Purchaser (including, from and after the Closing, the Company), (b) any purchaser of all or substantially all of the assets of Purchaser, or (c) a lender
of Purchaser or any of its Affiliates or agent therefor as collateral security for borrowing, at any time following the Closing Date, in each such case the Purchaser will nonetheless remain liable for all of its obligations hereunder. 

9.6 Severability. 
 Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable Law, but if any provision of this Agreement or the application of any
such provision to any Person or circumstance shall be held to be prohibited by, illegal or unenforceable under applicable Law or rule in any respect by a court of competent jurisdiction, such provision shall be ineffective only to the extent of such
prohibition, illegality or unenforceability, without invalidating the remainder of such provision or the remaining provisions of this Agreement. The parties agree that a court of competent jurisdiction making a determination of the invalidity or
unenforceability of any term or provision of this Agreement shall have the power to reduce the scope, duration or area of any such term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision
with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. 

9.7 Counterparts; Delivery by Facsimile or PDF. 
 This Agreement and the other Transaction Documents may be executed in one or more counterparts (including by means of telecopied signature pages or signature pages delivery by electronic transmission in
portable document format (pdf)), all of which taken together shall constitute one and the same instrument. This Agreement and any signed agreement or instrument entered into in connection with this Agreement, and any amendments hereto or thereto, to
the extent signed and delivered by means of a facsimile machine or electronic transmission in portable document format (pdf), shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party 

  
 - 53 -

 
hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or to any such
agreement or instrument shall raise the use of a facsimile machine or electronic transmission in portable document format (pdf) to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through
the use of a facsimile machine or electronic transmission in portable document format (pdf) as a defense to the formation of a contract and each such party forever waives any such defense, except to the extent such defense related to lack of
authenticity. 
 9.8 Descriptive Headings; Interpretation. 

The headings and captions used in this Agreement and the table of contents to this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement. Any capitalized terms used in any Schedule or Exhibit attached hereto and not otherwise defined therein shall have the meanings set forth in this Agreement. Each provision of this
Agreement shall be given independent significance. Without limiting the generality of the foregoing, in no event shall the purchase price adjustments provided for herein limit, prejudice or restrict, or be deemed to limit, prejudice or restrict, the
rights to indemnification of any party hereunder. 
 9.9 Entire Agreement. 

This Agreement and the agreements and documents referred to herein contain the entire agreement and understanding among the parties hereto
with respect to the subject matter hereof whether written or oral, relating to such subject matter in any way and replace and supersede in their entirety all prior agreements and understandings (including the Letter of Intent), all of which prior
agreements and understandings and prior drafts of this Agreement shall be disregarded for purposes of interpreting this Agreement. 
 9.10 No Third-Party Beneficiaries. 
 This Agreement is for the sole benefit
of the parties hereto and their permitted successors and assigns and nothing herein expressed or implied shall give or be construed to give any Person any legal or equitable rights hereunder, other than the parties hereto, the Purchaser Indemnified
Parties (to the extent not a party hereto), the Seller Indemnified Parties (to the extent not a party hereto), the Releasees (to the extent not a party hereto), and their respective permitted successors and assigns, each of whom shall be entitled to
enforce the provisions of this Agreement in which they are referenced. Notwithstanding anything to the contrary contained herein, solely for purposes of applicability of insurance coverages of the Company and without in any way limiting, prejudicing
or amending the rights of any Purchase Indemnified Party hereunder, for the avoidance of any doubt, the Sellers are providing an indemnity with respect to Excluded Liabilities and any Excluded Liability and all Excluded Liabilities shall continue to
be Liabilities of the Company in any manner required to ensure that they remain subject to all insurance coverages. 
 9.11
Schedules and Exhibits. 

  
 - 54 -

 All Schedules and Exhibits attached hereto or referred to herein are hereby incorporated in
and made a part of this Agreement as if set forth in full herein. 
 9.12 Governing Law. 

All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement and the Schedules and
Exhibits hereto shall be governed by, and construed in accordance with, the Laws of the Commonwealth of Massachusetts without giving effect to any choice of law or conflict of law rules or provisions (whether of the Commonwealth of Massachusetts or
any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the Commonwealth of Massachusetts. In furtherance of the foregoing, the internal Law of the Commonwealth of Massachusetts shall control the
interpretation and construction of this Agreement (and all Schedules and Exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive Law of some other jurisdiction would ordinarily apply.

 9.13 Efforts; Further Assurances. 
 Subject to the terms and conditions herein provided, each of the parties hereto shall use commercially reasonable efforts to take, or cause to be taken by any Subsidiary, all action, and to do, or cause
to be done by any Subsidiary, all things reasonably necessary, proper or advisable under applicable Laws to consummate and make effective the transactions contemplated by this Agreement. 

9.14 Consent to Jurisdiction. 
 Each party to this Agreement, by its execution hereof, (a) hereby irrevocably submits to the exclusive jurisdiction of the state courts of the Commonwealth of Massachusetts located in Suffolk County
or the United States District Court for the District of Massachusetts for the purpose of any Action (in contract, tort or otherwise) arising out of or based upon this Agreement or relating to the subject matter hereof, (b) hereby waives,
to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such Action (in contract, tort or otherwise) any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof may not be enforced in or by
such court and (c) hereby agrees not to commence any Action (in contract, tort or otherwise) arising out of or based upon this Agreement or relating to the subject matter hereof other than before one of the above-named courts nor to make any
motion or take any other action seeking or intending to cause the transfer or removal of any such Action (in contract, tort or otherwise), to any court other than one of the above-named court whether on the grounds of inconvenient forum or
otherwise. Each party hereby consents to service of process in any such proceeding in any manner permitted by Massachusetts law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified
pursuant to Section 9.16 is reasonably calculated to give actual notice. 
 9.15 WAIVER OF JURY TRIAL.

  
 - 55 -

 TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES
HERETO HEREBY WAIVES TO WAIVE, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, ACTION, CLAIM, CAUSE OF ACTION, SUIT (IN CONTRACT, TORT OR
OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW
EXISTING OR HEREAFTER ARISING. EACH PARTY ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTY THAT THIS SECTION 9.15 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THE PARTIES ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT
AND ANY OTHER AGREEMENTS RELATING HERETO OR CONTEMPLATED HEREBY. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9.15 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS
RIGHT TO TRIAL BY JURY. 
 9.16 Notices. 
 All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) if
personally delivered, on the date of delivery, (ii) if delivered by express courier service of national standing for next day delivery (with charges prepaid), on the Business Day following the date of delivery to such courier service,
(iii) if deposited in the United States mail, first-class postage prepaid, on the date of delivery, (iv) if delivered by telecopy, provided the relevant transmission report indicates a full and successful transmission, (x) on the date
of such transmission, if such transmission is completed at or prior to 5:00 p.m., local time of the recipient party, on the date of such transmission, and (y) on the next Business Day following the date of transmission, if such transmission is
completed after 5:00 p.m., local time of the recipient party, on the date of such transmission, or (v) if delivered by Internet mail, provided the relevant computer record indicates a full and successful transmission or no failure message is
generated (x) on the date of such transmission, if such transmission is completed at or prior to 5:00 p.m., local time of the recipient party, on the date of such transmission, and (y) on the next Business Day following the date of
transmission, if such transmission is completed after 5:00 p.m., local time of the recipient party, on the date of such transmission. Notices, demands and communications to any Seller, the Company, Seller or the Purchaser shall, unless another
address is specified in writing pursuant to the provisions hereof, be sent to the address indicated below: 
 To the Seller
Representative or any Seller: 
 John Clementi 
 31B Bullard Road 
 Princeton, MA 01541 

  
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 with a copy to: 
 Burns & Levinson LLP 
 125 Summer Street 

Boston, MA 02110 
 Attention: Frank A. Segall 
 Fax: 617-345-3299 

E-mail: fsegall@burnslev.com 
 To the Company and to the Purchaser: 
 North America Packaging Corporation

 1515 W. 22nd Street 
 Suite 550 
 Oak Brook, IL 60523 

Attention: Kenneth M. Roessler 
 Fax: 630-203-4110 
 E-mail: ken.roessler@bwaycorp.com 

with a copy to: 

Kirkland & Ellis LLP 
 300 North LaSalle 
 Chicago, IL 60654 

Attention: Richard J. Campbell, P.C. 
 Fax: 312-862-2200 
 E-mail: richard.campbell@kirkland.com 

9.17 No Strict Construction. 
 The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any of the provisions of this Agreement. 

9.18 Relationship of the Parties. 
 Nothing contained in this Agreement will be construed as creating a partnership, joint venture, agency, trust, fiduciary relationship or other association of any kind as between the Company (at or prior
to Closing) or the Sellers, on the one hand, and the Purchaser, on the other hand, each such party being individually responsible only for its obligations as set forth in this Agreement. The parties’ respective rights and obligations hereunder
are limited to the contractual rights and obligations expressly set forth herein on the terms and conditions set forth herein. Except for the representations, warranties, covenants and agreements of any Releasee as otherwise expressly set forth in
this Agreement and the other documents executed and delivered by such Releasee in connection herewith, no Releasee makes any representation, warranty, 

  
 - 57 -

 
covenant or agreement to the Company, the Seller Representative or any Seller in connection with the transactions contemplated hereby. 

*    *    *    *    * 

  
 - 58 -

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first
written above. 
  

			
	NORTH AMERICA PACKAGING CORPORATION

			
		
	By:	 	 /S/ Kenneth M.
Roessler

			
	Name:	 	Kenneth M. Roessler

			
	Title:	 	President

			
	
	PLASTICAN, INC.

			
		
	By:	 	 /S/ John R.
Clementi

			
	Name:	 	John R. Clementi
	Title:	 	President

			
	
	SELLER REPRESENTATIVE

			
		
	By:	 	 /S/ John R.
Clementi

			
		 	John R. Clementi

	
	SELLERS:
	
	 /S/ John R. Clementi

	John R. Clementi, Individually
	
	ANNA M. CLEMENTI TRUST
	
	 /S/ John R. Clementi

	John R. Clementi, Trustee
	
	THE LILLIAN CLEMENTI 1998 FAMILY TRUST
	
	 /S/ John R. Clementi

	John R. Clementi, Trustee
	
	 /S/ Francis S. Wyman

	Francis S. Wyman, Trustee
	
	THE SANDRO CLEMENTI 1998 FAMILY TRUST
	
	 /S/ John R. Clementi

	John R. Clementi, Trustee
	
	 /S/ Francis S. Wyman

	Francis S. Wyman, Trustee

 ANNEX A 
 “Accounting Principles” means GAAP applied in a manner consistent with the Audited Financial Statements (with it being understood that, with respect to any calculation herein that is to
be made in accordance with GAAP, if any item in the Audited Financial Statements was not applied in accordance with GAAP, the “Accounting Principles” shall require that such calculation herein be made in accordance with GAAP). For the
avoidance of doubt, the reserve methodologies to be used in the Accounting Principles for purposes hereof are as set forth in Exhibit E attached hereto. 
 “Action” means any actual or threatened action, suit, proceeding, complaint, claim, charge, demand, audit, inquiry or investigation by or before any Government Entity or any other Person,
including any arbitrator, mediator or dispute resolution panel. 
 “Adjustment Calculation Time” means
immediately prior to the Closing on the Closing Date. 
 “Affiliate” of any particular Person means any other
Person controlling, controlled by or under common control with such particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the
ownership of voting securities, contract or otherwise. 
 “Affiliated Group” means an affiliated group as
defined in Code §1504 (or any analogous combined, consolidated or unitary group defined under state, local or foreign income Tax law). 
 “Agreement” has the meaning set forth in the preamble to this Agreement. 
 “Applicable Contracts” means each of (x) contracts, leases and licenses for the types of Liabilities referred to in clauses (i) - (xiii) of the definition of Indebtedness and
(y) other contracts, leases and licenses (including all operating customer and supplier contracts, IT contracts, real property and personal property leases, including equipment leases), but in the case of the contracts, leases and licenses
referred to in clause (y), only to the extent the same are not required to be terminated or assigned and novated in accordance with Section 2.1(f). 
 “Applicable Rate” means the prime rate of interest per annum as of the date hereof announced in The Wall Street Journal. 

“Audited Financial Statements” means the audited consolidated balance sheet of the Company as of December 31, 2009,
and the related statements of income and cash flows for the twelve-month period then ended, together with a copy of the accountant’s report thereon. 
 “Auto Lease” has the meaning set forth in Section 7.7(b)(ii). 
 “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by Law to be closed in Boston, Massachusetts, New York, New York
or Atlanta, Georgia. 

 “Cash” means, with respect to the Company, the amount of all cash and cash
equivalents (including restricted cash) to the extent that the same are assets of the Company (including checks and wires in transit as of the Adjustment Calculation Time, even if outstanding and not yet cleared, but only to the extent that the
related account receivable, inventory or other asset is not included in the computation in Closing Net Working Capital), determined in accordance with the Accounting Principles. 

“Cash Recovery Amount” has the meaning set forth in Section 6.2(h). 

“Clementi Pail” means that certain one-gallon plastic paint can design the rights to which are owned by John R.
Clementi, along with the two injection molds relating thereto (being molds 08P-1 and 08PC-1), and all prototypes, models, drawings, documents and Intellectual Property Rights relating to such injection molds, including the patents set forth below:

 Table 1: 
  

					
	 Title
	  	Jurisdiction	  	Pub. or Patent
No. / Date
	 PLASTIC CONTAINERS WITH INTERLOCKING LIDS
	  	US	  	6250494
 6/26/2001

	 PLASTIC CONTAINERS AND LIDS
	  	Canada	  	2330009
 3/10/2009

	 PLASTIC CONTAINERS AND LIDS
	  	Mexico	  	229891
 8/10/2005

	 PLASTIC CONTAINERS AND LIDS
	  	EP	  	1115626
 7/7/2010

	 PLASTIC CONTAINERS AND LIDS
	  	France	  	1115626
 7/7/2010

	 PLASTIC CONTAINERS AND LIDS
	  	Germany	  	60044636
 8/19/2010

	 PLASTIC CONTAINERS AND LIDS
	  	Great Britain	  	1115626
 7/7/2010

	 PLASTIC CONTAINERS AND LIDS
	  	Italy	  	1115626
 7/7/2010

	 PLASTIC CONTAINERS AND LIDS
	  	Portugal	  	1115626
 7/7/2010

	 PLASTIC CONTAINERS AND LIDS
	  	Spain	  	1115626

7/7/2010

 Table 2: 
  

					
	 Title
	  	Jurisdiction	  	Pub. or Patent
No. / Date
	 INJECTION MOLD ASSEMBLY FOR MOLDING PLASTIC CONTAINERS
	  	US	  	6245277
 6/12/2001

	 INJECTION MOLD ASSEMBLY FOR MOLDING PLASTIC CONTAINERS
	  	Canada	  	2341049

11/28/2006

					
	 Title
	  	Jurisdiction	  	Pub. or Patent
No. / Date
	 INJECTION MOLD ASSEMBLY FOR MOLDING PLASTIC CONTAINERS
	  	Mexico	  	228226

6/1/2005

 “Closing” has the meaning set forth in Section 1.3. 

“Closing Cash Amount” means the aggregate amount of all Cash of the Company as of the Adjustment Calculation Time.

 “Closing Date” has the meaning set forth in Section 1.3. 

“Closing Indebtedness” means Indebtedness of the Company as of the Adjustment Calculation Time, but assuming
consummation of the Closing. 
 “Closing Net Working Capital” means Net Working Capital of the Company as of
the Adjustment Calculation Time; provided that, notwithstanding anything herein to the contrary, the results of the physical inventory taken by the parties and their respective advisors on October 9-10, 2010 (the “Physical
Inventory”) shall be used to calculate inventory for purposes of calculations with respect to Closing Net Working Capital. 
 “COBRA” means Part 6 of Subtitle B of Title I of ERISA, Code §4980B, and any similar state Law. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Company” has the meaning set forth in the preamble to this Agreement. 

“Company Expenses” means (without duplication), (a) the collective amount payable by, or Liabilities of, the
Company to outside legal counsel, accountants, advisors, brokers and other Persons in connection with the transactions contemplated by this Agreement or otherwise arising by consummation of the transactions contemplated hereby and (b) all
Liabilities of the Company under or in connection with any severance arrangements, stay bonuses, incentive bonuses, termination and change of control arrangements and similar obligations (including as may arise as a result of or in connection with
the severance and change-of-control arrangements listed on Schedule 3.14(h)) that are owed to any Person or that will be triggered, either automatically or with the passage of time (including in combination with any termination of employment
following the Closing), in whole or in part by the consummation of the transactions contemplated by this Agreement (including any amounts payable pursuant to Section 280G of the Code or to offset any excise Taxes imposed under Section 4999
of the Code and any related income Taxes). 
 “Confidential Information” means all information (whether or not
specifically identified as confidential), in any form or medium, that is disclosed to, or developed or learned by, the Company or a Seller as an owner of the Shares or as an employee of the Company, as the case may be, in the performance of duties
for, or on behalf of, Company or that relates to the Business, including: (i) internal business information (including information relating to strategic plans and practices, business, accounting, financial or marketing plans, practices or
programs, 

 
training practices and programs, salaries, bonuses, incentive plans and other compensation and benefits information and accounting and business methods); (ii) identities of, individual
requirements of, specific contractual arrangements with, and information about, the Company or its Affiliates, its customers and its confidential information; (iii) industry research compiled by, or on behalf of Company, including identities of
potential target companies, management teams, and transaction sources identified by, or on behalf of, Company; (iv) compilations of data and analyses, processes, methods, track and performance records, data and databases relating thereto; and
(v) information related to Company Intellectual Property Rights and updates of any of the foregoing, provided, however, “Confidential Information” shall not include any information which (A) is or becomes
generally available to the public other than as a result of a disclosure by a Seller in breach of Section 7.2 of this Agreement, (B) becomes available to a Seller on a non-confidential basis from a source other than Company,
provided that such source is not bound by a confidentiality agreement with, or other contractual, legal or fiduciary obligation of confidentiality to, Company or any other party with respect to such information, or (C) has been or is
subsequently independently conceived or developed without use of or reference to the Confidential Information (including without limitation any information relating to the Excluded Assets). 

“Debt Instruments” means, collectively, those certain (i) Promissory Note of the Company, dated January 13,
2009, in the aggregate principal amount of $4,000,000 and payable to the order of Lillian Clementi; (ii) Demand Promissory Note of the Company, dated October 2009, in the aggregate principal amount of $5,000,000 and payable to the order of
Lillian Clementi; (iii) Reimbursement Agreement and Demand Promissory Note, dated as of October 2009, by and between the Company and Lillian Clementi in the aggregate principal amount of $3,800,000; (iv) Loan and Trust Agreement,
dated March 1, 1997, by and among the Company, the Industrial Development Authority of the City of Phoenix, Arizona, Plastican Phoenix Properties, LLC and Fleet National Bank, as Trustee relating to the issuance of $8,400,000 in Adjustable Rate
Industrial Development Revenue Bonds (Plastican Project) Series 1997 (including related letters of credit, guaranties and such other ancillary documents referenced therein); and (v) Loan and Security Agreement, dated as of October 29,
2009, by and among the Company, Core Business Credit, LLC and the Lenders from time to time party thereto, as amended. 

“Deductible” has the meaning set forth in Section 6.2(c). 

“Disputed Items” has the meaning set forth in Section 1.4(c). 

“Employee Plan” means any “employee benefit plan” as such term is defined in ERISA §3(3), each severance,
incentive or bonus, deferred compensation, profit sharing, retirement, welfare, vacation or paid-time-off, change-of-control, stock purchase, stock option or equity incentive plan, program, agreement or arrangement and any other employee benefit
plan, program, agreement or arrangement maintained or contributed to by the Company or with respect to which the Company has any liability. 
 “Environmental Laws” shall mean all federal, state, local and foreign statutes, regulations and ordinances, and all other provisions having the force or effect of law, and all common law,
concerning pollution, human health and safety, occupational health and safety, Hazardous Substances or protection of the environment. 

 “Estimated Closing Cash Amount” has the meaning set forth in
Section 1.2. 
 “Estimated Closing Indebtedness” has the meaning set forth in
Section 1.2. 
 “Estimated Closing Net Working Capital” has the meaning set forth in
Section 1.2. 
 “Estimated Closing Purchase Price” means $12,222,107.51, calculated as
(i) $41,500,000, plus (ii) the Estimated Closing Cash Amount, minus (iii) the amount, if any, by which the Target Closing Net Working Capital exceeds the Estimated Closing Net Working Capital, minus (iv) the
Estimated Closing Indebtedness. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Excluded Assets” means (i) equity securities of any Person other than the Company and the books and
records related to any such Person, (ii) the SC/SD Plan, (iii) any salary continuation arrangement and related agreement, (iv) any “split dollar” or other life insurance policies or arrangements in existence prior to
the Closing (including any cash surrender value thereof), (v) any real estate assets of the Company prior to Closing other than any Leases related to any Leased Real Property, (vi) the Clementi Pail and any and all rights related thereto
other than as may be set forth in the Clementi Pail License Agreement, and (vii) Seller Representative’s artwork, office furniture, personal possessions and belongings, laptop and related peripheral equipment (not including any business
data or Confidential Information of the Company contained therein). 
 “Excluded Liabilities” means all
Liabilities of the Company or otherwise relating to or arising from the ownership or operation of the Business on or prior to the Closing Date (in each case, whether or not disclosed on the disclosure schedules hereto), including all Liabilities
(i) arising from or relating to any violation of Law, (ii) arising from or relating to any product manufactured, distributed or sold prior to the Closing, (iii) arising from or relating to any pending or threatened Action,
(iv) arising from or relating to any treatment, storage, disposal, transportation, handling, Release of, or contamination by, any Hazardous Substance occurring or existing prior to the Closing, (v) under Environmental Laws arising from
underlying facts, events, or conditions first existing or first occurring prior to the Closing, (vi) relating to or arising from the Employee Plans with respect to period on or prior to the Closing Date or otherwise arising as a result of the
consummation of the Closing, (vii) for severance, retirement or deferred compensation benefits (including under or in relation to the SC/SD Plan or other salary continuation agreement, split dollar life insurance agreement and any related
insurance policies and including with respect to each severance arrangement listed on Schedule 3.14(h)), in each case regardless of whether such Liability is incurred, accrued or arises before or after the Closing, (viii) for all Indebtedness
of the Company outstanding as of immediately prior to, but assuming consummation of, the Closing (to the extent not included in the Closing Indebtedness) and (ix) for Taxes attributable to a Pre-Closing Tax Period (with the portion of any Tax
for any Straddle Period deemed attributable to a Pre-Closing Tax Period determined in accordance with Section 7.4(b)) and the non-payment thereof; provided that “Excluded Liabilities” shall not include any of the
following items in (a), (b) and (c) below, which are individually and collectively referred to in this Agreement as “Retained Liabilities” and are being retained by the Company on and after the Closing Date:
(a) Liabilities to the extent included as current liabilities 

 
in the computation of Closing Working Capital or Closing Indebtedness, (b) contra-assets to the extent reducing current assets in the computation of Closing Working Capital, and
(c) post-Closing Liabilities and any and all post-Closing obligations under Applicable Contracts (other than Liabilities and obligations for breach, non-performance or default arising at or prior to the Closing, all of which shall be Excluded
Liabilities). Notwithstanding anything to the contrary contained herein, for purposes of applicability of insurance coverages of the Company, for the avoidance of any doubt, the Sellers are providing an indemnity with respect to Excluded Liabilities
and any Excluded Liability and all Excluded Liabilities shall continue to be Liabilities of the Company in any manner required to ensure that they remain subject to all insurance coverages. 

“Final Purchase Price” means (i) $41,500,000, plus (ii) the Closing Cash Amount, minus
(iii) the amount, if any, by which the Target Closing Net Working Capital exceeds the Closing Net Working Capital, minus (iv) the Closing Indebtedness. 
 “GAAP” means United States generally accepted accounting principles. 
 “Governing Documents” means the legal document(s) by which any Person (other than an individual) establishes its legal existence or which govern its internal affairs. For example, the
“Governing Documents” of a corporation would be its certificate of incorporation and by-laws, the “Governing Documents” of a limited partnership are its certificate of formation and its limited partnership agreement and the
“Governing Documents” of a limited liability company are its certificate of formation and its limited liability company agreement. 
 “Government Entity” means individually, and “Government Entities” means collectively, the United States of America or any other nation, any state or other political
subdivision thereof, or any entity exercising executive, legislative, judicial, regulatory or administrative functions of government, including any court, in each case having jurisdiction over the Company. 

“Hazardous Substance” means any substance or waste that is listed, defined, designated or classified as hazardous,
toxic, corrosive or otherwise regulated under applicable Law or a Government Authority or that may serve as a basis for Liability under applicable Law, and includes petroleum products and byproducts, asbestos-containing material, polychlorinated
biphenyls, lead-containing products, biological or infectious agents and mold. 
 “Income Tax” means any
federal, state, local, provincial or foreign Tax based on, measured by or with respect to income, net worth or capital, including any interest, penalty or addition thereto. 
 “Indebtedness” means the following indebtedness of the Company: (i) indebtedness for borrowed money, (ii) Liabilities evidenced by bonds, debentures, notes, or other similar
instruments or debt securities, (iii) Liabilities of the Company under or in connection with letters of credit or bankers’ acceptances or similar items, (iv) any obligation to pay the deferred purchase price of property or services
and any deferred purchase price Liabilities related to past acquisitions, other than those trade payables incurred in the ordinary course of business consistent with past practice, (v) all Liabilities arising from cash/book overdrafts,
(vi) all Liabilities under capitalized leases or leases that in accordance with GAAP 

 
are required to be capitalized, (vii) all Liabilities of the Company under conditional sale or other title retention agreements, (viii) all Liabilities of the Company arising out of
interest rate and currency swap arrangements and any other arrangements designed to provide protection against fluctuations in interest or currency rates, (ix) all Company Expenses, (x) all unpaid bonuses payable (or that may become
payable) to employees of the Company that are allocable to pre-Closing periods, (xi) all indebtedness of others guaranteed by the Company or secured by any Lien on the assets of the Company, (xii) any commitment by which a Person assures a
creditor against loss (including contingent reimbursement Liability with respect to letters of credit), (xiii) any amounts required to be paid to retire, satisfy or otherwise fully discharge the obligations of the Company (and, in the case of
clause (iv) of the definition of Debt Instruments, the obligations of Plastican Phoenix Properties, LLC) under the Debt Instruments as of the Closing Date (or as of the first date thereafter on which the Company is permitted to do so in
accordance with the terms of the documents governing the Debt Instruments) and (xiv) any amounts owed to any Person under any noncompetition, consulting or similar arrangements, including for each of the foregoing clauses (i) through
(xiv), any principal, premium, accrued and unpaid interest, related expenses, prepayment penalties, make-whole payments, commitment, breakage and other fees, sale or liquidity participation amounts, reimbursements, indemnities and all other amounts
payable in connection therewith); provided that “Indebtedness” shall not include the Retained Liabilities. 

“Indemnitee” has the meaning set forth in Section 6.2(e). 

“Indemnitor” has the meaning set forth in Section 6.2(e). 

“Independent Arbitrator” has the meaning set forth in Section 1.4(c) of this Agreement. 

“Initial Statement” has the meaning set forth in Section 1.4(a). 

“Intellectual Property Rights” means all of the following recognized and located in any jurisdiction throughout the
world (i) patents, patent applications, and patent disclosures, (ii) trademarks, service marks, trade dress, trade names, slogans, logos, Internet domain names, and corporate names (and all translations, transliterations, adaptations,
derivations and combinations of the foregoing), together with all of the goodwill associated therewith, (iii) copyrights and copyrightable works, (iv) trade secrets, customer and supplier lists, pricing and cost information, business and
marketing plans and proposals, technology, know-how, inventions, improvements, specifications, business and manufacturing methods and processes, designs, formulae, recipes, techniques, technical data and manuals, and research and development
information and all other confidential information, (v) computer software (including source code, object code, data, databases and documentation), (vi) registrations, applications and renewals for any of the foregoing, as applicable, and
(vii) all other proprietary and intellectual property rights. 
 “Knowledge” means actual knowledge of
John R. Clementi or such knowledge as would have been obtained by John R. Clementi making due inquiry and reasonable investigation in light of the applicable facts and circumstances. 

 “Law” or “Laws” means all statutes, laws, codes,
ordinances, regulations, rules, Orders, judgments, writs, injunctions, acts or decrees of any Government Entity. 

“Leased Automobile” has the meaning set forth in Section 7.7 

“Liability” means any liability, debt, deficiency, interest, Tax, penalty, fine, claim, demand, judgment, cause of
action, or other loss (including loss of benefit or relief), cost or expense of any kind or nature whatsoever, whether known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, and whether
due or become due and regardless of when asserted, cost or expense relating thereto. 
 “Lien” or
“Liens” means any mortgage, license, pledge, security interest, right of first refusal, option, deed of trust, charge, conditional sales contract, claim, restriction, covenant, easement, right of way, title defect, encumbrance or
lien of any nature whatsoever. For the avoidance of doubt, “Lien” shall not be deemed to include any restrictions on transfer arising under the Securities Act and/or applicable state securities laws. 

“Limitation Date” has the meaning set forth in Section 6.1(a). 

“Losses” has the meaning set forth in Section 6.2(a) 

“Material Adverse Effect” means any change, event, development, occurrence, state of facts or effect that, individually
or in the aggregate, is materially adverse to, or could reasonably be expected to have a material adverse effect on, the Business, operations, value, cash flows, assets, liabilities, financial condition or operating results of the Company, excluding
(i) the effect of any change in the United States or foreign economies or securities or financial markets in general; (ii) the effect of any change that affects any industry in which the Company operates; (iii) the effect of any
change arising in connection with earthquakes, hurricanes, tornadoes, hostilities, acts of war, sabotage or terrorism or military actions or any escalation or material worsening of any such hostilities, acts of war, sabotage or terrorism or military
actions existing or underway as of the date hereof or other force majeure events occurring after the date hereof; or (iv) the effect of any changes in applicable laws, rules regulations, orders, building or other codes, zoning and other
ordinances, permits, authorizations, judgments, and decrees of all Government Entities or any applicable accounting principals, except, in each case, if the effect on the Company is disproportionate to the effect on other participants in the
industry in which the Company operates such effect shall be considered in determining whether there has been a Material Adverse Effect. 
 “Multiemployer Plan” has the meaning set forth in ERISA § 3(37). 
 “Negotiation Period” has the meaning set forth in Section 6.2(f). 
 “Net Working Capital” means the excess of (a) the sum of net accounts receivable, net inventories, prepaid expenses and other current assets of the Company, minus (b) the
sum of accounts payable, accrued liabilities and other current liabilities of the Company, each as determined in accordance with the Accounting Principles. Notwithstanding the foregoing, “Net Working Capital” shall not include any asset or
contra-liability for Cash, Income Tax assets, unamortized bond expense, assets held for sale or Excluded Assets (including any 

 
asset related to the cash surrender value of any “split-dollar” insurance policies) or any liability or contra-asset for Indebtedness, Income Taxes or retention or deferred compensation
Liabilities (including under or in relation to the “Salary Continuation Agreements,” the “Split Dollar Life Insurance Agreements” and related insurance policies). 

“New Leases” has the meaning set forth in Section 2.1(h). 

“Objection Notice” has the meaning set forth in Section 1.4(b). 

“Order” means any order, civil investigative demand, judgment, injunction, award, decree, declaration, arbitration award
or writ issued by any Governmental Entity. 
 “Pail Negotiation Period” has the meaning set forth in
Section 7.8. 
 “Payoff Letters” has the meaning set forth in Section 2.1(d).

 “Permitted Liens” means (a) Liens for Taxes or assessments and similar charges, that are not yet due
and payable or the amount or validity of which is being contested in good faith by appropriate proceedings and for which appropriate reserves have been established in accordance with GAAP, (b) Liens imposed by applicable Law and incurred in the
ordinary course of business consistent with past practice for obligations not yet due and payable to landlords, carriers, warehousemen, laborers, repairmen, materialmen and the like, (c) zoning, building codes and other land use Laws regulating
the use or occupancy of any Leased Real Property or the activities conducted thereon which are imposed by any Government Entity having jurisdiction over such Leased Real Property and which are not violated by the current use or occupancy of any
Leased Real Property or the operation of the Business thereon, (d) easements, covenants, conditions, restrictions and other similar matters affecting title to any Leased Real Property and other title defects which do not materially detract from
the value of or materially impair the use or occupancy of such Leased Real Property or the operation of the Business of the Company, and (e) Liens set forth on Schedule 8.1. 

“Permits” means all insurance and other approvals, authorizations, consents, licenses, sublicenses, permits, variances,
franchises, orders, registrations and certificates of a Governmental Entity. 
 “Person” means an individual, a
partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a Government Entity or any department, agency or political subdivision thereof. 

“Pre-Closing Tax Periods” means periods ending on or prior to the Closing Date and the portion up to and including the
Closing Date for any period that includes (but does not end on) the Closing Date. 
 “Pro Rata Share” means,
with respect to each Seller, the fraction determined by dividing (a) the number of Shares held by such Seller as of immediately prior to the Closing by (b) the aggregate number of Shares outstanding as of immediately prior to the Closing,
as more fully set forth on Schedule 3.2. 

 “Purchase Option Machines” means the Mir 2300 Ton Injection Molding
Machine and Mir 1600 Ton Injection Molding Machine located at the Company’s facility located at 4101 West Buckeye Road, Phoenix, Arizona, and all related manuals and other ownership and service and maintenance documentation. 

“Purchase Price” means the Final Purchase Price, as adjusted in accordance with Article VI. 

“Purchaser” has the meaning set forth in the preamble to this Agreement. 

“Purchaser Indemnified Parties” has the meaning set forth in Section 6.2(a). 

“Release” for purposes of the environmental provisions of this agreement shall have the meaning set forth in the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (“CERCLA”), and shall also include exposure to any Hazardous Substance. 

“Restrictive Covenants” means the restrictive covenants applicable to the Sellers under Section 7.3 hereof.

 “Retained Liabilities” is defined in the definition of Excluded Liabilities. 

“SC/SD Plan” has the meaning set forth in Section 3.14. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Seller Indemnified Parties” has the meaning set forth in Section 6.2(b). 

“Sellers” has the meaning set forth in the preamble to this Agreement. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or
other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at
the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a
majority of the partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. 

“Target Net Working Capital” means $17,100,000. 

“Tax” or “Taxes” means (a) any federal, state, local or foreign income, gross receipts, franchise,
profits, capital gains, capital stock, transfer, sales, use, occupation, property, escheat, excise, estimated, severance, windfall profits, stamp, duty, license, payroll, withholding, ad valorem, value added, alternative minimum, environmental,
customs, social security (or similar), unemployment, disability, registration and other taxes, assessments, charges, duties, fees, levies or other similar governmental charges of any kind whatsoever, whether disputed or not, together with all
estimated taxes, deficiency assessments, additions to tax, penalties and 

 
interest; (b) liability for the payment of any amounts of the type described in clause (a) arising as a result of being (or having been) a member of any Affiliated Group (or being
included (or required to be included) in any Tax Return relating thereto); and (c) liability for the payment of any amounts of the type described in clause (a) as a result of any express or implied obligation to indemnify or otherwise
assume or succeed to the liability of any other Person, including as a transferee or successor, or by contract. 
 “Tax
Return” means any return, declaration, information report, claim for refund or filing with respect to Taxes, including any schedules, supplements or attachments thereto and including any amendment thereof. 

“Third-Party Claim” means any claim, demand, action, suit or proceeding made or brought by any Person who or which is
not a party to this Agreement or who or which is not an Affiliate of any party to this Agreement. 
 “Transaction
Documents” means this Agreement, any document, instrument or certificate delivered pursuant to this Agreement, any collateral agreements executed in connection with the consummation of the transactions contemplated hereby and any other
agreement entered into pursuant to the terms hereof. 
 “Transfer Taxes” has the meaning set forth in
Section 7.4(h). 
 “Treasury Regulation” means the United States Treasury Regulations promulgated
under the Code, and any reference to any particular Treasury Regulation section shall be interpreted to include any final or temporary revision of or successor to that section regardless of how numbered or classified.

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