Document:

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               PACTIV CORPORATION 2002 INCENTIVE COMPENSATION PLAN

                        PERFORMANCE SHARE AWARD AGREEMENT

  _________________________
  Participant

  Pursuant to the provisions of the Pactiv Corporation 2002 Incentive
  Compensation Plan, you were granted an Award of ________ Performance Shares,
  on ______________ ("Grant Date"). The Restricted Period applicable to the
  Award begins on the Grant Date and ends on ________________, subject to the
  performance targets established at the beginning of each measurement period by
  the Compensation/Nominating/Governance Committee. The performance targets may
  be further adjusted by the Committee to reflect the effects of any Corporate
  Transaction to the extent allowed by Internal Revenue Code Sec. 162(m) and the
  regulations thereunder. During the Restricted Period, and until all conditions
  imposed on the shares are satisfied, the Performance Shares are restricted in
  that they may not be sold, transferred, pledged or otherwise encumbered, or
  disposed of, by you. However, you will be entitled to receive payments,
  subject to withholding for taxes, equivalent in timing and amount to the
  dividends paid, if any, on the Common Stock of Pactiv Corporation, ("Common
  Stock"), as if each Performance Share represented one full share of Common
  Stock, as long, during the Restricted Period, as you are continuously employed
  by the Pactiv Corporation Companies. Such payments may be in the form of
  additional Performance Shares subject to the same restrictions as the original
  shares. If you remain employed by the Pactiv Corporation Companies throughout
  the Restricted Period, and all the conditions are satisfied, or if your
  employment terminates before the expiration of the Restricted Period as a
  result of your Retirement (at least age 65), Death, or Total Disability (all
  as defined in the Plan), the restrictions will lapse, and one share of Common
  Stock of Pactiv Corporation, (or, in certain situations based upon country of
  residence, a cash equivalent payment) will be delivered to you or your
  beneficiary, subject to withholding for taxes, for each Performance Share.
  Generally, if your employment terminates for any other reason before the
  expiration of the Restricted Period, you will forfeit the Performance Shares
  unless the Committee determines otherwise. You agree that the term
  "Performance Shares" shall include any shares or other securities which you
  may receive or be entitled to receive as a result of the ownership of the
  original Performance Shares whether they are issued as a result of a share
  split, share dividend, recapitalization, or other subdivision or consolidation
  of shares effected without receipt of consideration by the Company, or the
  result of the merger or consolidation of the Company or sale of assets of the
  Company.

AS A CONDITION OF THIS AWARD, YOU ARE REQUIRED TO EXECUTE THE ACKNOWLEDGEMENT AT
THE BOTTOM OF THE ENCLOSED COPY OF THIS AWARD NOTICE AND RETURN THE ACKNOWLEDGED
COPY OF THIS AWARD NOTICE TO THE COMPENSATION DEPARTMENT OF PACTIV CORPORATION
NOT LATER THAN ____________. This Award is subject to all the definitions, terms
and conditions of the Plan, a copy of which is enclosed. In the event of any
discrepancy between the provisions of the Plan and this or any other
communication regarding the Plan, the provisions of the Plan control.

<Table>
<S>                                          <C>
ATTEST:

ACCEPTED:                                    PACTIV CORPORATION

                                             /s/ Henry M. Wells III
_____________________________________        __________________________________________________
Type or Print Legal Name      Date           Vice President and Chief Human Resources Officer

_____________________________________
Signature

_____________________________________
Street Address

_____________________________________
City/State/Zip/Country
</Table><PAGE>
                                  Exhibit 10.19

                Summary of Compensation Arrangements of Directors

         The Board of Directors reviews the compensation for Board and Committee
members every two years, generally at the time of the Company's Annual Meeting
of Shareholders. The Compensation/Nominating/Governance ("C/N/G") Committee of
the Board advises the Board on matters related to director compensation. The
Board anticipates reviewing director compensation at its meeting held in
connection with the Company's Annual Meeting of Shareholders on May 20, 2005, at
which time it will consider any changes from the current arrangements, which are
described below.

         RETAINERS AND MEETING FEES. The Company pays each director who is not
an employee of the Company (each, a "Non-Management Director") an annual
retainer of $35,000, of which a minimum of 60% ($21,000) is paid in the form of
stock-settled Common Stock Equivalents, as described below, with the balance
paid in cash or, at the election of the director, deferred under the Deferred
Compensation Plan. The Company also pays Non-Management Directors $1,000 for
each meeting of the Board of Directors attended. The Chairman of the Audit
Committee and the Chairman of the C/N/G Committee are each paid an annual fee of
$9,000, and Non-Management Directors who serve on such committees are paid an
annual fee of $6,000 per committee membership. Members of the Three-Year
Independent Director Evaluation Committee receive $1,000 for each meeting of
that committee attended. Non-Management Directors also receive reimbursement of
their expenses for attending meetings of the Board of Directors and Committee
meetings.

         OPTIONS. Each Non-Management Director also receives an annual grant of
options to purchase 6,000 shares of the Company's common stock. These options
are granted at 100% of fair market value on the day the option is granted with a
term of ten years and fully vest six months from the grant date. Once vested,
these options are exercisable at any time during the option term.

         DEFERRED COMPENSATION PLAN. In payment of 60% of the retainer for 2004,
each Non-Management Director received 827 Common Stock Equivalents. Such Common
Stock Equivalents are held under the Deferred Compensation Plan and are payable
in shares of the Company's Common Stock after a Non-Management Director ceases
to serve as a director of the Company, either in a lump sum or in installments
over a period of years. Each Common Stock Equivalent is issued at 100% of the
fair market value of a share of Common Stock on the date of grant.

    Pursuant to the Company's Deferred Compensation Plan, a Non-Management
Director may elect to have up to 40% of his or her retainer fee and all or a
portion of his or her meeting fees deferred under the Deferred Compensation
Plan. Such Plan provides Non-Management Directors with various investment
options, including the Pactiv Stock Index Fund, in which case such deferred
amounts are Common Stock Equivalents. Payment of such optionally deferred
amounts, together with interest and/or earnings, may be deferred until the
earlier of: (i) the year next following the date upon which he or she ceases to
be a director of the Company; or (ii) the year selected by the director for
commencement of payment of the deferred amount in accordance with the Plan.<PAGE>

                                  Exhibit 10.20

            Summary of Compensation Arrangement for Named Executives

         None of the Company's CEO or it the four other most highly compensated
executive officers for its last completed fiscal year (collectively, the "named
executives") have employment agreements with the Company. The compensation for
the named executives is determined by the Compensation/Nominating/Governance
("C/N/G") Committee of the Board of Directors, generally annually. Effective
March 1, 2005, the base salary for the named executives is as follows:

         NAMED EXECUTIVE                             BASE SALARY

         Richard L. Wambold...........................$860,000
         Andrew A. Campbell...........................$380,365
         Peter J. Lazaredes...........................$414,000
         James D. Morris..............................$355,000
         John N. Schwab...............................$340,000

         In addition to base salaries, the named executives (i) are participants
under the Company's 2002 Incentive Compensation Plan (the "Plan"), can earn
Annual Incentive Awards and Performance Shares under the Plan, and may be
awarded other types of incentive compensation, including stock options, as
provided in the Plan; (ii) receive perquisite allowances, in the amount of
$40,000 for Mr. Wambold, and $30,000 for the other named executives, and up to
an additional $15,000 in 2005 and $10,000 in later years for re-imbursement for
financial planning advice; (iii) under the Company's Change in Control Severance
Benefit Plan for Key Executives, are eligible to receive certain benefits in the
event of a change-in-control (as defined in such plan), including severance
payments and three additional years of service benefits under the Company's
Supplemental Executive Retirement Plan; (iv) earn benefits under the Company's
pension plan and its Supplemental Executive Retirement Plan; and (v) are
eligible to participate in the Company's other employee benefit plans, including
its 401(k) Plan (including amounts paid in lieu of matching contributions under
the 401(k) Plan), its medical, dental, and other health and welfare plans, and
its deferred compensation plan, on the same terms as other employees of the
Company. Under the Company's deferred compensation plan, participants who elect
to invest all or a portion of their Annul Incentive Awards in the Pactiv Stock
Index Account receive a premium of one additional Common Stock Equivalent for
each five Common Stock Equivalents purchased, provided such investment in the
Pactiv Stock Index Account is maintained for at least three years. Copies of the
various plans are filed as Exhibits to the Company's Annual Report on Form 10-K,
and are incorporated herein by reference.

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