Document:

Asset Purchase Agreement

 Exhibit 10.1 
 ASSET PURCHASE AGREEMENT 
 This Asset Purchase
Agreement (this “Agreement”) is made and entered into this _3_ day of February, 2010 (the “Effective Date”), among General Automotive Company, Inc., a Nevada Corporation (“Buyer”), and
S.P.E.C., Inc., an Alabama corporation (“Seller”). Buyer and Seller may sometimes be individually referred to as the “Party” or collectively referred to as the “Parties”. 
 R E C I T A L S : 
 A. Seller is engaged in the business of manufacturing and distributing automotive parts under one or more tradenames, including the tradename SPEC. (the “Business”). 
 B. Seller desires to sell, and Buyer desires to acquire, all, or substantially all, of the assets of Seller (as more fully defined below,
the “Acquired Assets”) and all of the business conducted by Seller (all such business is hereinafter sometimes referred to as the “Business”), through the acquisition (the “Acquisition”) of the Acquired
Assets by Buyer, in exchange for certain consideration as more fully provided herein; provided, however, that the Acquired Assets shall not include any of the Excluded Assets (as defined in Section 1.3). 
 C. The Board of Directors of Buyer and Seller have determined the Acquisition in the manner contemplated herein to be desirable and in the
best interests of their respective shareholders or members, as the case may be, and, by resolutions or written actions, have duly approved and adopted this Agreement. 
 STATEMENT OF AGREEMENT 
 NOW, THEREFORE, in consideration of the mutual
covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties hereto, on the basis of, and in reliance upon, the representations, warranties, covenants,
obligations and agreements set forth herein, and upon the terms and subject to the conditions contained herein, agrees as follows: 
 Article I 
 RECITALS; PURCHASE AND SALE 
 Section 1.1 Recitals. Each of the Parties hereby agree that the recitals set forth above are true and correct and are
incorporated into the terms of this Agreement. 
 Section 1.2 Purchase and Sale. On the Closing Date (as defined in
Section 2.1) Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall purchase, acquire and accept from Seller, free and clear of any lien, claim, pledge, security interest or encumbrance of whatever kind or character,
all of the assets, properties, goodwill and rights of Seller relating to the Business of every nature, kind and description, tangible and intangible, wheresoever located and whether or not carried or reflected on the books and records of Seller (the
“Acquired Assets”), including, without limitation, the following (except to the extent any item of the following is part of the Excluded Assets): 
 (a) All equipment, furniture, supplies, computer hardware and other tangible personal property of Seller (the “Personal Property”), including, without limitation, all Personal Property
described on Schedule 1.2 (a) attached hereto. 

 (b) All work-in-process and other inventory of Seller (the “Inventory”),
including, without limitation, the Inventory listed on Schedule 1.2(b) to be attached hereto by Seller 
 (c) All
franchises, licenses, permits, consents authorizations, approvals, and certificates of any regulatory, administrative or other government agency or body relating to the Business (the “Permits”) including, without limitation, the
Permits listed on Schedule 1.2(c) attached hereto; 
 (d) All patents, patentable materials, letters patent and utility
models, including reissues, divisionals, continuations, continuations-in-part, renewals, derivatives, and extensions of any of the foregoing, trade secrets, processes, procedures, systems, proprietary rights, proprietary knowledge, confidential or
proprietary information, know-how, show-how, inventions, computer software, technology, trademarks, names, service marks, trade names, internet domain names, URL addresses, electronic mail addresses, copyrights, copyrighted and copyrightable
materials (whether or not registered, published or containing a copyright notice, and including, but not limited to, any and all moral rights and similar rights, and derivatives), symbols, logos, customer lists, inventions, franchises and permits
and all filings, applications for registrations, registrations, renewals and reissues of any such registrations with or by an federal, state, local or foreign regulatory, administrative, governmental or quasi-governmental office or authority, any of
the foregoing that might be issued upon any such registration, and all licenses, sublicenses or agreements in respect thereof, that Seller owns or has the right to use or to which Seller is a party, whether or not used in the Business (collectively,
the “Proprietary Rights”), including, without limitation, the Proprietary Rights described on Schedule 1.2(d) attached hereto by Seller; 
 (e) All claims and rights under contracts, agreements, contract rights, leases, license agreements, franchise rights and agreements, policies, purchase and sales orders ( the “Pending Sales
Orders”), engagement letters, executory commitments, instruments, guaranties, indemnifications, arrangements, and understandings of Seller, whether oral or written, to which Seller is a party (whether or not legally bound thereby) (the
“Contracts”), including, without limitation, the Pending Sales Orders Contracts listed on Schedule 1.2 (e) and that each of said Pending Sales Orders is valid, still pending, on time, and is not the subject of any
cancellation and Seller has no knowledge of any potential cancellation or reduction of any Pending Sales Order. 
 (f) All
investments, deposits and prepaid expenses, including, without limitation, the items listed on Schedule 1.2(f) attached hereto by Seller; 
 (g) All causes of action, judgments and claims or demands against others of whatever kind or description; 
 (h) All books of account, records, customer lists, vendor lists, files, papers, records, promotional marketing and advertising materials, catalogs, brochures, forms, plans, manuals and handbooks relating
to the conduct of the Business or otherwise relating to the conduct of the Business or otherwise relating to the Acquired Assets or usable in connection with the Business; 
 (i) All goodwill (excluding any unamortized goodwill reflected on the financial statements of Seller); and 
 (j) All of Seller’s telephone numbers, including, without limitation, all local and toll free telephone numbers. 
  

 2 

 Section 1.3 Excluded Assets. Notwithstanding any other provision of this
Agreement to the contrary, the following items shall be excluded from the Acquired Assets (the “Excluded Assets”): 
 (a) all corporate minute books, stock records, corporate seals, treasury shares and tax returns and supporting schedules of Seller (all of which shall be subject to Buyer’s right to inspect and copy); and 
 (b) those items, if any, listed on Schedule 1.3(b) attached hereto by Seller, and agreed to by Buyer. 
 Section 1.4 Assumption of Liabilities. Buyer shall not and does not assume any obligations of Seller, with the exception of
Business debt that is shown on the balance sheet and financial statements provided by Seller to Buyer hereunder, as well as any obligations that Seller has under previous product warranties given pursuant to the sale of its products to its
customers, which shall not be deemed to be extended or renewed hereby (the “Assumed Liabilities”). With the exception of the Assumed Liabilities, Buyer shall not by the execution and performance of this Agreement, or otherwise,
assume or otherwise be responsible for any liability or obligation of any nature of Seller, or claims of such liability or obligation, matured or unmatured, liquidated or unliquidated, fixed or contingent, or known or unknown, whether arising out of
occurrences prior to, at or after the Closing Date. 
 Section 1.5 Acquisition Consideration. The consideration to
be paid for the Acquired Assets shall be equivalent to $2,815,000, plus assumption of the Assumed Liabilities (the ‘Acquisition Consideration”). The payment and determination of the Acquisition Consideration shall be made as
follows: 
  

	 	(a)	Cash: The sum of $2,065,000 cash shall be paid at closing, as defined herein. 

  

	 	(b)	Stock of Buyer: The balance of the closing price shall be paid through the issuance of shares of common stock of Buyer, which shall be priced at the average
closing price for the shares (“GNAU”) for the previous 5 days immediately prior to closing, with a minimum price of 20 cents per share, and a maximum price 40 cents per share. If, however the average closing price of the stock, as defined
herein, is less than 15 cents per share, the cash portion of the purchase price shall be changed to $2,215,000, and the stock portion reduced by $150,000. 

  

	 	(c)	Management of The Business, Stock Bonus and Earn Out: At closing, David Norton, Shelly Norton, Bobbie Webster and Graham Webster will enter into 5 year
employment agreements to manage the Business, with a base salary for 2010 at the same rate as their base salary for 2009, and with standard cost of living increases (or other increases approved by the Board) for each year thereafter. Mr. Norton
shall also be on the Board of Buyer, for a minimum 2 year term. In addition to the cash and stock portion of the purchase price, Seller shall have the opportunity to earn additional shares for improved performance of SPEC under the management of
Norton and his team for the first two years following closing. Buyer shall issue $550,000 of restricted stock to Seller at the end of 2010 for achieving above 10% EBITDA profit margin for 2010 and an additional $550,000 at the end of 2011 for
achieving above 13% EBITDA Profit Margin for 2011. The Stock Bonus will be paid after the annual audit, using the same formula as set forth above, but with a minimum stock price of 40 cents and a maximum stock price of 60 cents. However, if during
the final audit of the Business it is determined that the financial operations fall short of the initial numbers provided by Seller to Buyer, the parties agree to make a good faith effort to adjust the purchase price to meet with the targeted
multiple of earning used in formulating the purchase price. 

  

 3 

 CONSUMMATION OF ACQUISITION 
 Section 1.6 General. As used in this Agreement, the “Closing” shall mean the time at which each of the Parties hereto
consummate the sale, transfer, assignment and delivery of the Acquired Assets to Buyer, and the consummation of the other transactions provided for in Article I hereof; provided that such consummation shall be effective as of the Closing Date.
The Closing shall take place on or before April 15, 2010, at an agreed location in Orlando, Florida at 10:00 a.m. on the date hereof (the “Closing Date”), or at such other time and place as the Parties shall mutually agree.

 Section 1.7 Due Diligence Period. Buyer shall have until 5:00 p.m., on March 15, 2010, to conduct due diligence (the
“Due Diligence Period”) to determine whether in its sole and absolute discretion it will proceed with the transaction contemplated by this Agreement. If Buyer fails to notify Seller in writing prior to the expiration of the Due
Diligence Period that Buyer has elected not to proceed with the transaction contemplated by this Agreement, Buyer shall be deemed to have irrevocably elected to proceed with this transaction. During the Due Diligence Period, Seller shall
(i) provide Buyer and their designees with such information as or Buyer may from time to time reasonably request with respect to the Business, the Acquired Assets and the Assumed Liabilities and the transactions contemplated by this Agreement,
(ii) provide Buyer and their designees, officers, counsel, accountants, actuaries and other authorized representatives access during regular business hours and upon reasonable notice to the books, records, offices, personnel, counsel,
customers, vendors, accountants and actuaries of the Business as Buyer or their designees may from time to time reasonably request and (iii) permit Buyer and its designees to make such inspections of the foregoing as Buyer may reasonably
request. Any investigation shall be conducted in such a manner so as not to interfere unreasonably with the operation of the Business. No such investigation (or any disclosure made at any time by Seller to Buyer) shall limit or modify in any way, or
act or result in a waiver of, any Seller’s obligations with respect to any breach of its representations, warranties, covenants or agreements contained herein (including, without limitation, conditions to Closing or indemnification
obligations). 
 Section 1.8 Documents to be Delivered by Seller At the Closing, in addition to any other documents specifically
required to be delivered pursuant to the terms of this Agreement, Seller shall deliver or cause to be delivered to Buyer, in form and substance reasonably satisfactory to Buyer: 
 (a) certified copies of duly executed written actions of the shareholders and Board of Directors of Seller authorizing and approving the
execution and delivery of this Agreement and all other documents and instruments required hereunder to be executed and delivered by Seller and the consummation by Seller of all transactions and agreements contemplated herein; 
 (b) certificate of good standing of Seller issued by the Secretary of State of the State of Alabama dated not more than ten (10) days
prior to the Closing Date; 
 (c) a good and sufficient Bill of Sale, satisfactory to Buyer and duly executed by Seller,
conveying, selling, transferring and assigning to Buyer title to all of the Acquired Assets free and clear of all security interests, liens, charges, encumbrances or equities whatsoever 
 (d) a good and sufficient Assignment and Assumption Agreement related to the Contracts and Pending Sales Orders, in a form satisfactory to
Buyer and duly executed by Seller together with the written consents of all parties necessary in order to transfer all of Seller’s rights there under to Buyer; and 
  

 4 

 (e) such other documents and instruments as shall reasonably be required by Buyer to be
executed and delivered by Seller in order to fully and effectively consummate all of the transactions contemplated herein to be performed by Seller. 
 Section 1.9 Documents to be Delivered by Buyer. At the Closing (or within the appropriate time periods set forth in Section 1.6 hereof), in addition to any other documents specifically required to be delivered pursuant to
this Agreement, Buyer, as the case may be, shall deliver to Seller or the Owners, in form and substance reasonably satisfactory to Seller: 
 (a) the Closing Date Payment; 
 (b) the Assignment and Assumption Agreement duly
executed by Buyer; 
 (c) certificate of good standing of Buyer issued by the Secretary of State of the State of Florida, or
other proof of good standing dated not more than one (1) day prior to the Closing Date, as well as copies of duly executed written actions of all of the members of the Board of Directors of Buyer authorizing and approving the execution and
delivery of this Agreement and all other documents and instruments required hereunder to be executed and delivered by Buyer and the consummation by Buyer of all transactions and agreements contemplated herein;and 
 (d) The shares representing the balance of the purchase price, which shall bear a standard restrictive legend: and 
 (e) such other documents and instruments as shall be reasonably required by Seller to be executed and delivered by Buyer in
order to fully and effectively consummate all of the transactions contemplated herein to be performed by Buyer. 
 Article II

 REPRESENTATIONS AND WARRANTIES 
 OF BUYER 
 In order to induce Seller to enter into this Agreement,
Buyer hereby represents and warrants to Seller that the following statements contained in this Article III are true, correct and complete, both as of the execution hereof and as of the Closing Date: 
 Section 2.1 Organization and Standing. Buyer is a corporation duly organized, validly existing and in good standing under the
laws of the State of Nevada with full power and authority (corporate and other), to own, lease, use, and operate its properties and to conduct its business as and where now owned, leased, used, operated and conducted. 
 Section 2.2 Corporate Power and Authority. Buyer has all requisite corporate power and authority to enter into this Agreement
and the agreements to be entered into in connection with this Agreement, and all such agreements have been duly executed and delivered by Buyer and constitute the legal, valid and binding obligation of Buyer, enforceable against each of Buyer in
accordance with its terms. 
 Section 2.3 Conflicts; Consents and Approvals. Neither the execution nor delivery of
this Agreement by Buyer nor the consummation of the transactions contemplated by this Agreement will violate or conflict with any agreement to which Buyer is a party, or will violate the terms of its charter, or its bylaws. 
  

 5 

 Section 2.4 Litigation. There is no suit, claim, action, proceeding or
investigation pending or, to the best knowledge of Buyer, threatened against Buyer that could have a material adverse effect on the ability of Buyer to consummate the transactions contemplated by this Agreement. 
 Section 2.5 Brokerage and Finder’s Fees. Buyer has not engaged the services of any broker or agreed to pay any brokerage of
finder’s fees in connection with the transactions contemplated by this Agreement. 
 Article III 

REPRESENTATIONS AND WARRANTIES 
 OF SELLER 
 In order to induce Buyer to enter into this Agreement,
Seller represents and warrants to Buyer, that the following statements contained in this Article IV are true, correct, and complete, both as of the execution hereof, and as of the Closing Date: 
 Section 3.1 Organization and Standing. Seller is a corporation duly organized, validly existing and in good standing under the
laws of the State of Alabama with full power and authority to own, lease, use, and operate its properties and to conduct its business as and where now owned, leased, used, operated and conducted. Seller is not qualified to do business as a foreign
corporation in any jurisdiction other than the State of Alabama and neither the nature of the Business nor other activities conducted by Seller nor the properties that Seller owns, leases, or operates requires Seller to qualify to do business as a
foreign corporation in any other jurisdiction. Seller has not received any written notice or assertion within the last three (3) years from any governmental official in any jurisdiction to the effect that Seller is required to be qualified or
authorized to do business as a foreign corporation in a jurisdiction other than the State of Alabama. Seller is not in default in the performance, observation or fulfillment of any provision of its Articles of Incorporation (“Seller
Articles”), its bylaws (“Seller Bylaws”) or any shareholders agreement to which any Owner is bound (“Seller Shareholders Agreement”). 
 Section 3.2 Power and Authority. Seller has all requisite corporate power and authority to enter into and perform this Agreement
and the agreements to be entered into in connection with this Agreement to which it is a party (the “Seller Related Agreements”) and to carry out its obligations under this Agreement and the Seller Related Agreements. This Agreement
and the Seller Related Agreements and the transactions contemplated by this Agreement and the Seller Related Agreements have been duly and validly authorized by all necessary corporate action on the part of Seller and any other necessary parties.
This Agreement and the Seller Related Agreements have been duly executed and delivered by Seller and constitute the legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms. 
 Section 3.3 Consents and Approvals. Neither the execution and delivery of this Agreement by Seller nor the consummation of the
transactions contemplated by this Agreement requires or will require any action or consent or approval of, or review by, or registration with, any third party, court or governmental body or other agency, instrumentality or authority. 
 Section 3.4 Financial Statements. Seller has furnished and shall furnish to Buyer the statement of income, expenses, assets and
liabilities of Seller as of December 31, 2009 and December 31, 2008 on or before February 10, 2010. (collectively, the “Financial Statements”). The Financial Statements, will have been personally delivered to Buyer by
the president or chief financial officer of Seller, have been prepared from and are in accordance with the books and records of Seller, have been prepared by Seller in accordance with GAAP (except for the failure of the Financial Statements to
include

  

 6 

 
the footnotes and other off book disclosures required by GAAP), will be true and correct in all material respects and fairly present the financial condition and results of operations of Seller as
of the dates stated and the results of operations of Seller for the periods then ended in accordance with such practices, except as otherwise stated therein or herein. 
 Section 3.5 Undisclosed Liabilities and Absence of Material Adverse Change. 
 (a) Seller does not have any liability or obligation of any nature (whether matured or unmatured, liquidated or unliquidated, fixed or contingent, or otherwise and whether due or to become due) except for those specifically shown in the
Financial Statements. There has been no material adverse change in the business operations, assets, properties, customer base, prospects, rights or condition (financial or otherwise) of Seller or any occurrence, circumstance, or combination thereof
that reasonably could be expected to result in any such material adverse change since the date of the original letter of intent between the parties dated February 24,2009, including, without limitation, any material adverse change relating to
Seller’s relationship with any customer, contractor, insurance carrier or other vendor. Additionally, since said date, up to and including the Closing date, Seller represents that there has been no additional indebtedness or contractual
liability taken on by Seller, or promises made to any third party which would have the effect of limiting or reducing the value of the Acquired Assets or the Business. 
 Section 3.6 Taxes. 
 (a) Seller has duly and timely filed all federal,
state, local and foreign tax returns and tax reports (collectively, “Tax Returns”) required to be filed by it under applicable laws and regulations. All such Tax Returns are true, correct and complete in all respects and were
prepared in compliance with all applicable laws and regulations. All amounts due and owing by Seller (whether or not shown on any Tax Return) have been fully paid. Seller is not currently the beneficiary of any extension of time within which to file
any Tax Return. No claim has ever been made by an authority in any jurisdiction where Seller does not file Tax Returns that Seller is or may be subject to taxation by that jurisdiction. There are no liens or other security interests for taxes (other
than taxes not yet due and payable) upon any of the Acquired Assets. 
 (b) Seller has withheld and paid all amounts, including,
without limitation, income tax withholding, FICA, FUTA, unemployment and worker’s compensation payments, required to have been withheld and paid in connection with any amounts paid or owing to any employee, independent contractor, creditor,
stockholder, or other third party. 
 (c) Seller has not waived any statute of limitations in respect of taxes or agreed to any
extension of time with respect to a tax assessment or deficiency. 
 (d) Seller has never been a member of any affiliated,
consolidated, combined or unitary group for purposes of taxes and Seller has no liability under Treasury Regulation 1.1502-6. There exists no tax-sharing agreement or arrangement pursuant to which Seller is obligated to pay the tax liability of any
other Person (as defined below), or to indemnify any other Person with respect to any tax. For purposed of this Agreement, “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, any other business entity, or governmental entity (or any department, agency, or political subdivision thereof). 
 (e) The United States of America and the State of Alabama are the only states, territories and jurisdictions to which any tax is properly
payable by Seller. 
  

 7 

 Section 3.7 Compliance with Law. Seller has complied and is in compliance with
all material laws, statutes, ordinances, orders, rules, regulations, policies, and guidelines promulgated, and all judgments, decisions and orders entered, by any federal, state, local or foreign court or governmental authority or instrumentality or
private entity or organization authorized by any of the foregoing to act on its behalf that are applicable or relate to Seller the Business or the Acquired Assets. Schedule 1.2(c) attached hereto by Seller, includes a list of all Permits
owned by Seller, each of which is currently valid and in full force and effect and will continue to be valid and in full force and effect after the Closing. Seller is not in violation of any of the Permits, and there is no pending nor, to the best
knowledge of Seller, any threatened proceeding that could result in the revocation, cancellation or inability of Seller to renew any Permit. Seller has not been charged with or given notice of any violation of any of the applicable laws which
violation has not been remedied in full (without any remaining liability of Seller). 
 Section 3.8 Proprietary
Rights. 
 (a) Schedule 1.2(d) attached hereto by Seller sets forth a description of: (i) all Proprietary Rights
that were used in the operation of the Business, including without limitation, patents, trade secrets, processes, proprietary rights, proprietary knowledge, know-how, technology, trademarks, names, service marks, trade names, internet domain names,
URL addresses, electronic mail addresses, copyrights, symbols, logos, customer lists, inventions, franchises and permits, license, sublicense, or other such right is necessary for the operation of the Business in substantially the same manner as the
Business is presently conducted. To the best knowledge of Seller, the Business has not been and is not being conducted in contravention of any trademark, copyright or other proprietary right of any Person. All assets listed on Schedule 1.2(d) are
and shall be a part of the Acquired Assets, and are all owned by Seller free and clear of any claims or encumbrances of any kind or nature, and are all valid and enforceable rights with regard to the business of Seller. 
 (b) Seller has exclusive rights to own and use the computer software owned or licensed by Seller (the “Software”) and has
the right to transfer all Software used by Seller pursuant to this Agreement. Schedule 1.2(d) attached hereto by Seller lists and briefly describes, and Seller has provided to Buyer true, correct and complete copies of, all material licenses,
agreements, documents and other materials relating to the Software and to Seller’s rights therein (other than software generally available to the public in retail stores). Seller has not licensed or otherwise authorized any other Person to use
or make use of all or any part of the Software, nor has Seller granted, assigned or otherwise conveyed any right in or to the Software. 
 Section 3.9 Restrictive Documents or Laws. Seller is not a party to or bound under any mortgage, lien, lease, agreement, contract, instrument, law, order, judgment or decree, or any similar
restriction not of general application that adversely affects, or reasonably could be expected to so affect (a) the Acquired Assets or the ability of Buyer to utilize them in the Business after the Closing Date on substantially the same basis
as the Business is currently operated; or (b) the consummation of the transactions contemplated by this Agreement. 
 Section 3.10 Insurance. Set forth in Schedule 4.11 attached hereto by Seller is a true, correct and complete list of all insurance policies and bonds in force in which Seller is named as an insured party, or for which
Seller has paid any premiums, and such lists correctly state the name of the insurer, the name of each insured party, the type and amount of coverage, deductible amounts, if any, the expiration date and the premium amount of each such policy or
bond. All such policies or bonds are currently in full force and effect and no notice of cancellation or termination has been received by Seller with respect to any such policy. Seller will continue all of such insurance in full force and effect
through the Closing Date. All premiums due and payable on such policies have been paid. Seller is not a co-insurer under any term of any insurance policy. 
  

 8 

 Section 3.11 Title to and Condition of Acquired Assets. Seller has good, valid
and marketable title to all of the Acquired Assets, and the Acquired Assets constitute all of the property now used in and necessary for the conduct of the business of Seller as presently conducted. All of the Acquired Assets are held free and clear
of all mortgages, pledges, liens, security interests, encumbrances and restrictions of any nature whatsoever. No financing statement under the Uniform Commercial Code or similar law naming Seller as debtor has been filed in any jurisdiction, and
Seller is not a party to or, to the best knowledge of Seller, bound under any agreement or legal obligation authorizing any party to file any such financing statement. 
 Section 3.12 Brokers, Finders. If Seller has engaged any brokers related to this transaction, it shall be responsible for any and all payments due to any broker as a result of this transaction

 Section 3.13 Legal Proceedings, etc. Except as set forth on Schedule 4.14 attached hereto by Seller (the
“Pending Litigation”), there are no (and over the last five (5) years there have been no) claims, proceedings, suits, or investigations (collectively, “actions”) pending or, to the best knowledge of Seller,
threatened against or relating to Seller (or any of its shareholders or employees in connection with the business or affairs of Seller), before any federal, state, local or foreign court or governmental body. There are no actions pending or, to the
best knowledge of Seller, threatened for the purpose of enjoining or preventing this Agreement of any other transaction contemplated by this Agreement or otherwise challenging the validity or propriety of the transactions contemplated by this
Agreement. 
 Section 3.14 ERISA. 
 (a) Schedule 4.15(a) attached hereto by Seller identifies each “employee benefit plan,” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) that (i) is subject to any provision of ERISA and (ii) is or was at any time maintained, administered or contributed to by Seller or any affiliate (as defined below) and covers any employee or former employee of
Seller or any affiliate or under which Seller or any affiliate has any liability. Copies of such plans (and, if applicable, related trust or funding agreements, insurance contracts and all other contracts with respect to which Seller or any
affiliate may have any liability) and all amendments thereto have been furnished to Buyer together with the three (3) most recent annual reports (Form 5500 and all related schedules) and actuarial valuation reports, if any, prepared in
connection with any such plan. Such plans are referred to collectively herein as the “Employee Plans.” For purposes of this Section, “affiliate” of any Person means any other Person that, together with such Person, would
be treated as a single employer under Section 414 of the Code. The only Employee Plans that would constitute an “employee pension benefit plan” as defined in Section 3(2) of ERISA (the “Pension Plans”) are
identified as such on Schedule 4.18. 
 (b) No Employee Plan constitutes a “multiemployer plan,” as defined in
Section 3(37) of ERISA, or a “defined benefit plan,” as defined in Section 3(35) of ERISA and subject to Title IV of ERISA, nor does Seller or any affiliate have any obligation to create, maintain, or contribute to any such
“multiemployer plan” or “defined benefit plan.” No Employee Plan is maintained in connection with any trust described in Section 501(c)(9) of the Code. No “accumulated funding deficiency,” as defined in
Section 412 of the Code, has been incurred with respect to any Pension Plan, whether or not waived. Full payment has been made of all amounts that Seller is required to have paid as contributions to or benefits under any Employee Plan as of the
end of the most recent year thereof and there are no unfunded obligations under any Employee Plan that have not been disclosed to Buyer prior to the Closing Date. No condition exists and no event has occurred that could constitute grounds for
termination of any Employee Plan, and neither Seller nor any of its affiliates has incurred any liability under Title IV of ERISA that has not been satisfied in full. Nothing done or omitted to be done and no transaction or holding of any asset
under or in connection with any Employee Plan has or will make Seller, or any

  

 9 

 
officer, director, shareholder of Seller, subject to any liability under Title I of ERISA or liable for any tax pursuant to Section 4975 of the Code. There is no pending or threatened
litigation, arbitration, disputed claim, adjudication, audit, examination or other proceeding with respect to any Employee Plan or any fiduciary or administrator thereof in their capacities as such. 
 (c) Each Employee Plan that is intended to be qualified under Section 401(a) of the Code is so qualified and has been so qualified
during the period from its adoption to date, and each trust forming a part thereof is exempt from tax pursuant to Section 501(a) of the Code. Seller has furnished to Buyer copies of the most recent Internal Revenue Service determination letters
with respect to each such Employee Plan. Each Employee Plan has been maintained in compliance with its terms and the requirements prescribed by any and all statutes, orders, rules and regulations, including but not limited to ERISA and the Code,
that are applicable to such Plan. 
 (d) There is no contract, agreement, plan or arrangement covering any employee or former
employee of Seller or any affiliate that, individually or collectively, could give rise to the payment of any amount that would not be deductible pursuant to the terms of the Code. 
 (e) Schedule 4.18(e) attached hereto by Seller identifies each employment, severance or other similar contract, arrangement or policy
and each plan or arrangement (written or oral) providing for insurance coverage (including any self-insured arrangements), workers’ compensation, disability benefits, severance benefits, supplemental unemployment benefits, vacation benefits,
retirement benefits or for deferred compensation, profit-sharing, bonuses, stock options, stock appreciation or other forms of incentive compensation or post-retirement insurance, compensation or benefits that (i) is not an Employee Plan,
(ii) is entered into, maintained or contributed to, as the case may be, by Seller or any of its affiliates, and (iii) covers any employee or former employee of Seller or any of its affiliates. Such contracts, plans and arrangements as are
described above, copies or descriptions all of which have been furnished previously to Buyer, are referred to collectively herein as the “Benefit Arrangements.” Each Benefit Arrangement has been maintained in substantial compliance
with its terms and with requirements prescribed by any and all statutes, orders, rules and regulations that are applicable to such Benefit Arrangement. 
 (f) There is no liability in respect of post-retirement health, life or other benefits for retired employees of Seller or any of its affiliates. Seller has reserved its right to amend or terminate any
Employee Plan or Benefit Arrangement in respect of any current or former employee of Seller under the terms of any such plan and descriptions thereof given to employees. With respect to any of Seller’s Employee Plans that are “group health
plans” under Section 4980B of the Code and Section 607(1) of ERISA, there has been timely compliance with all requirements imposed thereunder so that Seller and its affiliates have no (and will not incur any) loss, assessment, tax
penalty, or other sanction with respect to any such plan. 
 Section 3.15 Contracts. Schedule 4.16 attached
hereto by Seller lists all contracts, agreements, leases, arrangements and understandings (written or oral) to which Seller is a party. Seller represents that it is not in breach of any such contracts or agreements. 
 Section 3.16 Inventory. Schedule 1.2(b) contains a complete and accurate list of all Inventory owned or held by the
Seller or used in the conduct of the Business, including, without limitation, manufacturing supplies, raw materials, components, repair parts, work-in-progress, finished goods and similar items, whether raw or used. The quantities of Inventory as of
the Closing Date will be reasonable under the current circumstances of the Business. None of the Inventory is in the possession of others. The Inventory is not subject to any claim with respect to the use of materials held on consignment. All

  

 10 

 
products manufactured (whether or not completed) or sold before the Closing Date will be in compliance with all warranties with respect to that product. 
 Section 3.17 No Conflict or Default. Neither the execution and delivery of this Agreement by Seller, including, without
limitation, the consummation of the transactions contemplated by this Agreement, will violate any applicable laws or Permits or conflict with or result in the breach of any term, condition or provision of the Seller Articles, Seller Bylaws or any
agreement between Seller’s shareholders or other organizational document of Seller, or of any material agreement, deed, contract, undertaking, mortgage, indenture, writ, order, decree, restriction, legal obligation or instrument to which Seller
is a party. 
 Section 3.18 Books of Account; Records. Seller’s general ledgers, and other records relating to
the assets, properties, contracts and outstanding legal obligations of Seller are complete and correct and have been maintained in accordance with good business practices, and, to the extent required by GAAP (except for the requirement to include
the footnotes and other off book disclosures required by GAAP), the matters contained therein are appropriate and accurately reflected in the Financial Statements. 
 Section 3.19 Shareholders, Officers and Directors. David Norton is a shareholder, officer and director of Seller, and has full power and authority to execute all documents related to this
transaction on behalf of Seller. 
 Section 3.20 Labor Relations. Seller has complied in all material respects with
all applicable federal, state and local laws, rules, regulations and executive orders relating to employment, and all applicable laws, rules and regulations governing payment of minimum wages and overtime rates, and the withholding and payment of
taxes from compensation of employees and the payment of premiums and benefits under applicable worker’s compensation laws. There is no union organizing campaign actually pending or, to the best knowledge of Seller, threatened against or
involving Seller. No collective bargaining or other labor agreement is currently being negotiated by Seller and no union or collective bargaining unit represents any of Seller’s employees. Seller has not experienced any work stoppage or other
material labor difficulty during the past five (5) years. 
 Section 3.21 Customers and Vendors. No vendor of
Seller has indicated that it shall stop, or decrease the rate of, or substantially increase its fees for, supplying products or services to Seller, as applicable, either prior to, or following the consummation of, the Closing. 
 Section 3.22 Organizational Documents. Copies of the Seller Articles, certified by the Secretary of State of Alabama, and the
Seller Bylaws and any agreement between Seller’s shareholders, certified by the president or chief executive officer of Seller, have been furnished to Buyer and are a true, correct and complete copies thereof as currently in effect. 

Section 3.23 Outstanding Commitments. To the best knowledge of Seller, Seller is not bound by any commitments for the
performance of services or delivery of products in excess of its ability to provide such services or deliver such products during the time available to satisfy such commitments, and all outstanding commitments for the performance of services or
delivery of products were made on a basis calculated to produce a profit under the circumstances prevailing when such commitments were made. 
 Section 3.24 Acquired Assets. Seller is transferring to Buyer all of the assets, other than the Excluded Assets, that are used in or are necessary to conducting the Business as historically
operated by Seller. Other than the Excluded Assets, the Acquired Assets constitute all of such assets. 
  

 11 

 Section 3.25 Full Disclosure. The representations and warranties contained in
this Article IV do not contain nor will they contain any untrue statement of a material fact or omit to state any known material fact necessary in order to make the factual statements contained herein, in light of the circumstances under which they
were made, not misleading. To the best knowledge of Seller, there are no adverse facts that have not been disclosed to Buyer in writing or on schedules attached hereto relating to the Acquired Assets and operation of the Business. The performance of
due diligence shall not limit the indemnification obligations of any party hereunder. 
 Article IV 
 COVENANTS OF THE PARTIES 
 Section 4.1 Mutual Covenants. 
 (a) General. Each Party shall
use all commercially reasonable efforts to take all actions and do all things necessary, proper or advisable to consummate the Acquisition and the other transactions contemplated by this Agreement, including without limitation using all commercially
reasonable efforts to cause the conditions set forth in Article V and Article VI of this Agreement for which such Party is responsible to be satisfied as soon as reasonably practicable and to prepare, execute, acknowledge or verify, deliver, and
file such additional documents, and take or cause to be taken such additional actions, as any other Party may reasonably request to carry out the purposes or intent of this Agreement. 
 (b) Other Governmental Matters. Each Party shall use all reasonable efforts to take any additional action that may be necessary,
proper or advisable in connection with any other notices to, filings with, and authorizations, consents and approvals of any court, administrative agency or commission, or other governmental authority or instrumentality that it may be required to
give, make or obtain. 
 (c) Cooperation. On and after the Closing, each Party will cooperate with the other Parties and
execute and deliver to the other Parties such other instruments and documents and take such other actions as may be reasonably requested from time to time by the other Parties as necessary to carry out, evidence and confirm the intended purposes of
this Agreement. In addition, after the Closing, Seller, at Buyer’s request, shall prepare, execute and deliver, at the Seller’s expense, such further instruments of conveyance, sale, assignment or transfer, and shall take or cause to be
taken such other or further action as Buyer shall reasonably request at any time or from time to time in order to perfect, confirm or evidence in Buyer title to all or any part of the Acquired Assets. 
 (d) Tax Matters. After Closing, the Parties will coordinate the preparation of all necessary tax returns; provided however, Seller
shall assume all responsibility for, and shall timely perform, the filing and reporting obligations required by Section 6043A of the Code and shall take all necessary or appropriate actions to timely satisfy such obligations. Each Party agrees
to timely furnish to the other Parties any records and other information reasonably requested by them in connection therewith. Buyer has not made any representation as to the tax treatment of Seller, or any agreement with respect to refraining from
taking any future action that could adversely affect the tax treatment of the Acquisition or tax consequences to Seller in connection therewith or otherwise. Notwithstanding anything in this Agreement to the contrary, Seller will remain solely
liable for any tax consequences to it as a result of the Acquisition. 
 (e) Further Assurances. After the Closing,
Seller, at Buyer’s request, shall prepare, execute and deliver, at Seller’s expense, such further instruments of conveyance, sale, assignment or

  

 12 

 
transfer, and shall take or cause to be taken such other or further action as Buyer shall reasonably request at any time or from time to time in order to be perfect, confirm or evidence in Buyer
title to all or any part of the Acquired Assets, or to put Buyer more fully in possession of, any of the Acquired Assets, or to better enable Buyer to complete, perform or discharge any of the Assumed Liabilities. Each Party will cooperate with the
other Parties and execute and deliver to the other Parties such other instruments and documents and take such other actions as may be reasonably requested from time to time by the other Parties as necessary to carry, out, evidence and confirm the
intended purposes of this Agreement. 
 (f) Forwarding of Funds. After the Closing, if any payment is received by Seller
for any periods of time from and after the Closing Date, or which represent any portion of the Pending Sales Orders or other Acquired Assets by Buyer, Seller shall immediately account for and pay over such payment to Buyer. 
 (g) Notices of Certain Events. Seller shall promptly notify Buyer of: 
 (i) Any notice or other communication from any Person alleging that the consent of such Person is or may be required in connection with the
transactions contemplated by this Agreement; 
 (ii) Any notice or other communication from any governmental or regulatory
agency or authority in connection with the transactions contemplated by this Agreement; and 
 (iii) Any actions commenced or,
to the best knowledge of Seller, threatened against, relating to, involving, or otherwise affecting Seller or any of Seller’s property, or any disputes, conflicts or circumstances providing the basis for any dispute or conflict, that, if in
existence on the date of this Agreement would have been required to have been disclosed by Seller that relate directly or indirectly to the consummation of the transactions contemplated by this Agreement. 
 (h) Change of Name; Use of Name. On or before the Closing Date, Seller shall (i) change its company name, and the name of its
parent and all affiliated companies, to one acceptable to Buyer and which is not the same as or similar to its present company name or any other trademark or trade style or name now used by Seller or any affiliate, and (ii) have delivered to
Buyer, in form suitable for filing, such certificates, consents and other documents as are necessary or desirable to effect the transfer of the registration of any name conveyed to Buyer pursuant to this Agreement in the State of Alabama and in each
other state where Seller is qualified to do business or has registered any such name under a “trade name” or “fictitious name” statute or similar law or has taken any other action in order to obtain or protect rights in such
name. Seller shall grant any consents and take any other and future action, all at Seller’s expense, requested by Buyer to enable Buyer to use, reserve or register any such name for the exclusive use of Buyer. After the Closing Date, Seller
shall discontinue use of the name “SPEC” and/or any similar name. 
 (i) Continuation of Existence of Seller.
Seller shall maintain Seller’s valid existence and good standing under the laws of the State of Florida, at Seller’s own expense, for a period commencing on the Effective Date and continuing until the 12 month anniversary of the Effective
Date. 
 (j) Delivery of Financial Statements. Seller shall cause: 
 (i) A Closing Date Balance Sheet to be delivered to Buyer on the Closing Date, which must be accepted and approved by Buyer as a condition
to closing. 
  

 13 

 (ii) Employees. Upon the Closing and effective as of the Effective Date, Seller will
terminate the employment of its employees, and Buyer (or one of or more of Buyer’s affiliates) shall offer employment, effective as of the Effective Date, to all such employees on an at-will basis. Neither Seller will not take any action that
could impede, hinder, interfere, or otherwise compete with Buyer’s (or such affiliate’s) effort to hire any such employee, and Seller shall undertake such efforts as may be reasonably requested by Buyer to facilitate such efforts. In no
event shall Buyer (or such affiliate) be considered a successor employer. Except to the extent in violation of applicable law, Seller shall promptly furnish to Buyer all information relating to each employee of Seller as Buyer may require in
connection with its (or such affiliate’s) employment of such persons, including, without limitation, initial employment date, termination dates, reemployment dates, compensation and tax withholding history, which information shall be true and
correct in all material respects. 
 (k) Termination of Employee Plans; Benefit Arrangements. Seller shall cause all
Employee Plans and Benefit Arrangements of Seller to be terminated, and provide Buyer with evidence of such termination, at or prior to the Closing. Buyer shall provide continuation of the same or similar benefits to the SPEC employees after the
Closing, including health care, 401(k) and other similar benefits. 
 Article V 
 CONDITIONS 
 Section 5.1 Mutual Conditions. The obligations of each of the Parties to consummate the Acquisition and the other transactions contemplated by this Agreement shall be subject to fulfillment of all of the following conditions:

 (a) No Adverse Proceeding. No temporary restraining order, preliminary or permanent injunction or other order or
decree which prevents the consummation of the Acquisition or the other transactions contemplated by this Agreement shall have been issued and remain in effect, and no statute, rule or regulation shall have been enacted by any state or federal
government or governmental agency which would prevent the consummation of the Acquisition and the other transactions contemplated by this Agreement. 
 (b) Governmental Approvals. Any governmental or other approvals or reviews of this Agreement or the transactions contemplated by this Agreement required under any applicable laws, statutes, orders,
rules, regulations, or policies, or any guidelines promulgated thereunder, shall have been received. 
 Section 5.2
Conditions to Obligations of Seller. The obligations of Seller to consummate the Acquisition and the other transactions contemplated by this Agreement shall be subject to the fulfillment of all of the following conditions unless waived by
Seller in writing: 
 (a) Representations and Warranties. The representations and warranties of Buyer set forth in
Article III of this Agreement shall be true and correct in all material respects as of the Effective Date and as of the Closing Date. 
 (b) Performance of Agreement. Buyer shall have performed and observed in all material respects all obligations and conditions to be performed or observed by it under this Agreement at or prior to the Closing, including, without
limitation, the delivery of the items set forth in Section 2.3 hereof. 
  

 14 

 Section 5.3 Conditions to Obligations of Buyer. The obligations of Buyer to
consummate the Acquisition and the other transactions contemplated by this Agreement shall be subject to the fulfillment of all of the following conditions unless waived by Buyer in writing: 
 (a) Representations and Warranties. The representations and warranties of Seller set forth in Article IV of this Agreement shall be
true and correct in all material respects as of the Effective Date and as of the Closing Date. 
 (b) Performance of
Agreement. Seller shall have performed and observed in all material respects all obligations and conditions to be performed or observed by it under this Agreement at or prior to the Closing, including, without limitation, the delivery of the
items set forth in Section 2.3 hereof. 
 (c) FIRPTA Certificate. Buyer shall have received from Seller a
certificate, as described in Treasury Regulation § 1.1445-2, certifying that Seller is not a foreign person as defined in Section 1445(f)(3) of the Code. 
 (d) Consents. Seller shall have obtained and delivered to Buyer all consents Buyer deems necessary or desirable, in Buyer’s reasonable discretion, in order to consummate the transactions
contemplated herein. 
 (e) Due Diligence. Buyer shall have completed their due diligence investigation of Seller and the
Business pursuant to this Agreement and shall have been satisfied in all respects with the results of such investigation. 
 Article VI 
 TERMINATION 
 Section 6.1 Termination Events. By notice given prior to the Closing, this Agreement may be terminated as follows: 

(a) by Buyer in its sole and absolute discretion any time prior to the expiration of the Due Diligence Period; 
 (b) by Buyer if a material breach of any provision of this Agreement has been committed by Seller or any Owner and such breach has not been
cured by Seller (after Notice and reasonable opportunity) or such breach is waived by Buyer; 
 (c) by Seller if a material
breach of any provision of this Agreement has been committed by Buyer and such breach has not been cured by Buyer (after Notice and reasonable opportunity) or such breach is waived by Seller; 
 (d) by Buyer if any condition in Section 2.4 has not been satisfied as of the date specified for Closing or if satisfaction of such a
condition by such date is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement), and Buyer has not waived such condition on or before such date; 
 (e) by Seller if any condition in Section 2.5 has not been satisfied as of the date specified for Closing or if satisfaction of such a
condition by such date is or becomes impossible (other

  

 15 

 
than through the failure of Seller to comply with their obligations under this Agreement), and Seller has not waived such condition on or before such date; 
 (f) by mutual consent of Buyer and Seller; or 
 (g) by either Buyer or Seller if the Closing has not occurred on or before the date that is thirty (30) days from the expiration of the Due Diligence Period. 
 Section 6.2 Effect of Termination. Each Party’s right of termination under Section 7.1 above is in addition to any
other rights such Party may have under this Agreement or otherwise, and the exercise of such right of termination will not be an election of remedies. 
 Article VII 
 MISCELLANEOUS 
 Section 7.1 Notices. All notices and other communications under this Agreement to any Party shall be in writing and shall be
deemed given when delivered personally to that Party, sent by facsimile transmission (with electronic confirmation) to that Party at the facsimile number for that Party set forth below, mailed by certified mail (postage prepaid and return receipt
requested) to that Party at the address for that Party set forth below, or delivered by Federal Express or any similar express delivery service for delivery to that Party at that address: 
 (a) If to Buyer: 
 (b) If to Seller: 
 Any Party may change its facsimile number or address for notices under this Agreement at any time
by giving the other Parties notice of such change. 
 Section 7.2 Non-Waiver. No failure by any Party to insist upon
strict compliance with any term or provision of this Agreement, to exercise any option, to enforce any right, or to seek any remedy upon any default of any other Party shall affect, or constitute a waiver of, the first Party’s right to insist
upon such strict compliance, exercise that option, enforce that right, or seek that remedy with respect to that default or any prior, contemporaneous, or subsequent default. No custom or practice of the Parties at variance with any provisions of
this Agreement shall affect or constitute a waiver of any Party’s right to demand strict compliance with all provisions of this Agreement. 
 Section 7.3 Genders and Numbers. Where permitted by the context, each pronoun used in this Agreement includes the same pronoun in other genders and numbers, and each noun used in this
Agreement includes the same noun in other numbers. 
 Section 7.4 Headings. The headings of the various Articles and
Sections of this Agreement are not part of the context of this Agreement, are merely labels to assist in locating such Articles and Sections, and shall be ignored in construing this Agreement. 
  

 16 

 Section 7.5 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be a single agreement. The signatures to this Agreement need not all be on a single copy of this Agreement, and may be facsimiles rather than
originals, and shall be fully as effective as though all signatures were originals on the same copy. 
 Section 7.6
Entire Agreement. This Agreement and the Additional Documents, all of which are hereby incorporated by reference, constitute the entire agreement, and supersede all prior or contemporaneous discussions, negotiations, agreements and
understandings (both written and oral) among the Parties with respect to the subject matter hereof and thereof. 
 Section 7.7 No Third-Party Beneficiaries. Nothing contained in this Agreement, express or implied, is intended or shall be construed to confer upon or give to any Person, other than the Parties and any Indemnified Parties, any
rights, remedies or other benefits under or by reason of this Agreement. 
 Section 7.8 Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the State of Florida, without regard to principles of conflicts of law. The Parties hereby irrevocably submit to the jurisdiction of the courts in the State of Florida
(state or federal), with venue in Orange County, over any dispute arising out of this Agreement and agree that all claims in respect of such dispute or proceeding shall be heard and determined in such court. All rights and remedies of each Party
under this Agreement shall be cumulative and in addition to all other rights and remedies which may be available to the Party from time to time, whether under this Agreement or otherwise. 
 Section 7.9 Binding Effect; Assignment. This Agreement shall be binding upon, inure to the benefit of and be enforceable by and
against the Parties and their respective heirs, personal representatives, successors, and assigns. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be transferred or assigned by any of the Parties
without the prior written consent of the other Parties. Notwithstanding the foregoing, Buyer shall have the right to assign any of their respective rights, interests or obligations under this Agreement, in whole or in part, to any company affiliated
with Buyer, as the case may be. 
 Section 7.10 Expenses. Each Party shall pay their own respective expenses and
fees associated with this transaction. 
 Section 7.11 Severability. With respect to any provision of this Agreement
finally determined by a court of competent jurisdiction to be unenforceable, such court shall have jurisdiction to reform such provision so that it is enforceable to the maximum extent permitted by applicable law, and the Parties shall abide by such
court’s determination. In the event that any provision of this Agreement cannot be reformed, such provision shall be deemed to be severed from this Agreement, but every other provision of this Agreement shall remain in full force and effect.

 Section 7.12 Knowledge. Whenever a representation or warranty is made herein as being to the “knowledge
of” or “best knowledge of” a Party, it is understood that such Persons have made or caused to be made (and the results thereof reported to them) an investigation that provides them with a reasonable basis upon which to determine the
accuracy of such representation or warranty by personnel or representatives competent to determine the accuracy thereof. 
 IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written. 
  

 17 

									
	Buyer: General Automotive Company, Inc.	 		 	Seller: S.P.E.C., Inc.
					
	By:	 	 \s\ Dan Valladao
	 		 	By:	 	  

					
	Name:	 	Dan Valladao	 		 	Officer:	 	\s\ David Norton
					
	Its:	 	CEO	 		 	Officer:	 	\s\ Graham Webster
					
		 		 		 	Officer:	 	\s\ Shelly Norton
					
		 		 		 	Officer:	 	\s\ Barbara V. Webster

  

 18 

 SCHEDULE 1.3(b) – EXCLUDED ASSETS 
  

	a.	1991 Nissan 240SX 

  

	b.	2001 Lincoln LS 

  

	c.	Scrap Metal Bins 

  

	d.	Vending Machines 

  

 19Sixth Amended and Restated Agreement of Limited Partnership

 Exhibit 10.36 
 SIXTH AMENDED AND RESTATED 
 AGREEMENT OF LIMITED
PARTNERSHIP 
 OF 
 GRAHAM PACKAGING HOLDINGS COMPANY 
 DATED AS OF FEBRUARY 4, 2010

  
  
 THE PARTNERSHIP UNITS OF GRAHAM PACKAGING HOLDINGS COMPANY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE SECURITIES
LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH UNITS MUST BE ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR
TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE STATE SECURITIES LAWS, AND ANY OTHER APPLICABLE SECURITIES LAWS; AND (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED LIMITED PARTNERSHIP
AGREEMENT. THE UNITS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS AND THIS AGREEMENT OF LIMITED PARTNERSHIP. THEREFORE, PURCHASERS OF SUCH UNITS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT FOR AN INDEFINITE PERIOD
OF TIME. 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
			
		  	ARTICLE 1	  	
			
		  	THE LIMITED PARTNERSHIP	  	
			
	1.1	  	Prior Formation, Recapitalization, Redemption and Contribution	  	1
	1.2	  	Certificate of Limited Partnership	  	2
	1.3	  	Name	  	2
	1.4	  	Character of Business	  	2
	1.5	  	Principal Offices	  	2
	1.6	  	Fiscal Year	  	2
	1.7	  	Accounting Matters	  	2
			
		  	ARTICLE 2	  	
			
		  	DEFINITIONS	  	
			
	2.1	  	Act	  	3
	2.2	  	Affiliate	  	3
	2.3	  	Agreement	  	3
	2.4	  	Auditor	  	3
	2.5	  	Available Cash	  	3
	2.6	  	Bankruptcy	  	3
	2.7	  	Capital Account	  	4
	2.8	  	Catch Up Amount	  	4
	2.9	  	Certificate	  	4
	2.10	  	Class	  	4
	2.11	  	Code	  	4
	2.12	  	Common Stock	  	4
	2.13	  	DCG	  	4
	2.14	  	Depreciation	  	4
	2.15	  	Exchange Act	  	4
	2.16	  	Exchange Agreement	  	4
	2.17	  	Exchange Transaction	  	5
	2.18	  	Event of Withdrawal	  	5
	2.19	  	General Partner	  	5
	2.20	  	Generally Accepted Accounting Principles	  	5
	2.21	  	GP Corp	  	5

					
	 	  	 	  	Page
			
	2.22	  	GPC Partners	  	5
	2.23	  	Graham Partners	  	5
	2.24	  	Graham Partners Excess Distribution Amount	  	5
	2.25	  	Gross Asset Value	  	5
	2.26	  	Limited Partner	  	6
	2.27	  	Opco	  	6
	2.28	  	Opco Partnership Agreement	  	6
	2.29	  	Original Agreement	  	6
	2.30	  	Partner	  	6
	2.31	  	Partnership	  	6
	2.32	  	Partnership Interest	  	6
	2.33	  	Partnership Year	  	6
	2.34	  	Percentage Interest	  	6
	2.35	  	Person	  	6
	2.36	  	Profits and Losses	  	6
	2.37	  	Recapitalization Agreement	  	7
	2.38	  	Regulations or Treas. Reg.	  	7
	2.39	  	Return Amount	  	7
	2.40	  	Securities Act	  	7
	2.41	  	Transfer	  	7
	2.42	  	Units	  	7
	2.43	  	General Provisions	  	8
			
		  	ARTICLE 3	  	
			
		  	CAPITAL ACCOUNTS	  	
			
	3.1	  	Capital Accounts	  	8
	3.2	  	Negative Capital Accounts	  	8
	3.3	  	Compliance with Treasury Regulations	  	8
	3.4	  	Succession to Capital Accounts	  	8
	3.5	  	Certain Adjustments	  	8
	3.6	  	No Withdrawal of Capital Contributions	  	8
	3.7	  	Other Payments	  	9
			
		  	ARTICLE 4	  	
			
		  	PARTNERSHIP UNITS	  	
			
	4.1	  	Partnership Interests	  	9
	4.2	  	Register	  	10
	4.3	  	Splits, Distributions and Reclassifications	  	10

					
	 	  	 	  	Page
			
	4.4	  	Cancellation of Common Stock and Units	  	10
	4.5	  	Incentive Plans	  	10
	4.6	  	Offerings of Common Stock	  	10
	4.7	  	Registered Partners	  	10
			
		  	ARTICLE 5	  	
			
		  	DISTRIBUTIONS; PARTNERSHIP ALLOCATIONS; TAX MATTERS	  	
			
	5.1	  	Distributions Prior to Dissolution	  	11
	5.2	  	Partnership Allocations	  	12
	5.3	  	Tax Allocations; Code Section 704(c)	  	13
	5.4	  	Accounting Method	  	14
	5.5	  	Withholding	  	14
	5.6	  	Tax Treatment of Return Amounts	  	14
	5.7	  	Distribution by Opco	  	14
			
		  	ARTICLE 6	  	
			
		  	MANAGEMENT	  	
			
	6.1	  	Rights and Duties of the Partners	  	15
	6.2	  	Duty of General Partner	  	15
	6.3	  	Powers of General Partner	  	15
	6.4	  	Restrictions on General Partner Authority	  	18
	6.5	  	Compensation	  	18
	6.6	  	Other Activities	  	18
			
		  	ARTICLE 7	  	
			
		  	COSTS AND EXPENSES AND COMPENSATION	  	
			
		  	ARTICLE 8	  	
			
		  	ACCOUNTS	  	
	8.1	  	Books and Records	  	19
	8.2	  	Reports, Returns and Audits	  	19

					
	 	  	 	  	Page
			
		  	ARTICLE 9	  	
			
		  	TRANSFERS	  	
			
	9.1	  	Transfer of a Limited Partner’s Interest	  	20
	9.2	  	Allocation of Distributions Subsequent to Assignment	  	20
	9.3	  	Death, Incompetence, Bankruptcy, Liquidation or Withdrawal of a Limited Partner	  	20
	9.4	  	Permitted Transfers of Graham Partners	  	21
	9.5	  	Satisfactory Written Assignment Required	  	22
	9.6	  	Transferee’s Rights	  	22
	9.7	  	Transferees Admitted as Partners	  	22
	9.8	  	Additional Restrictions on Transfer	  	22
			
		  	ARTICLE 10	  	
			
		  	DISSOLUTION	  	
			
	10.1	  	Events of Dissolution	  	23
	10.2	  	Final Accounting	  	24
	10.3	  	Liquidation	  	24
	10.4	  	Cancellation of Certificate	  	24
			
		  	ARTICLE 11	  	
			
		  	AMENDMENTS TO AGREEMENT	  	
			
	11.1	  	Amendments and Waivers	  	24
			
		  	ARTICLE 12	  	
			
		  	NOTICES	  	
			
	12.1	  	Method of Notice	  	25
	12.2	  	Computation of Time	  	25
			
		  	ARTICLE 13	  	
			
		  	INVESTMENT REPRESENTATIONS	  	
			
	13.1	  	Investment Purpose	  	26
	13.2	  	Investment Restriction	  	26

					
	 	  	 	  	Page
			
		  	ARTICLE 14	  	
			
		  	GENERAL PROVISIONS	  	
			
	14.1	  	Entire Agreement	  	26
	14.2	  	Governing Law	  	26
	14.3	  	Submission to Jurisdiction; Waiver of Jury Trial	  	26
	14.4	  	Binding Effect	  	27
	14.5	  	Separability	  	27
	14.6	  	Headings	  	27
	14.7	  	No Third-Party Rights	  	27
	14.8	  	Waiver of Partition	  	28
	14.9	  	Nature of Interests	  	28
	14.10	  	Power of Attorney	  	28
	14.11	  	Costs and Expenses of GPC Inc.	  	28

 SIXTH AMENDED AND RESTATED 
 AGREEMENT OF LIMITED PARTNERSHIP OF 
 GRAHAM PACKAGING HOLDINGS
COMPANY 
 THIS SIXTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP is entered into as of the 4th day of February, 2010
by and among GPC Holdings, L.P., a Pennsylvania limited partnership (“GPCLP”), Graham Packaging Corporation, a Pennsylvania corporation (“GP Corp”), BCP/Graham Holdings L.L.C., a Delaware limited liability company
(“BCP”), and Graham Packaging Company Inc. (formerly known as BMP/Graham Holdings Corporation), a Delaware corporation (“GPC Inc.”), GPCLP and GP Corp are hereinafter sometimes referred to collectively as the
“Graham Partners.” BCP and GPC Inc. are hereinafter sometimes referred to collectively as the “GPC Partners.” 
 W I T N E S S E T H 
 WHEREAS, Graham Packaging Holdings Company (formerly
known as Graham Packaging Company, the “Partnership”) is an existing limited partnership that was formed in accordance with the provisions of the Pennsylvania Uniform Limited Partnership Act (59 Pa. Cons. Stat. ch. 5) and has been
continued in accordance with the provisions of the Act (as herein defined); 
 WHEREAS, GPC Inc. intends to make an initial
public offering of shares of its Common Stock (as defined below) in connection with an initial public offering (the “IPO”); 
 WHEREAS, historically for convenience purposes the Partnership has tracked the percentage interest ownership of each of the Limited Partners and the General Partners herein through calculating the number
of nominal units in the Partnership held by each of the Limited Partners and the General Partners; and 
 WHEREAS, in connection
with the IPO, the parties hereto desire to amend and restate the Fifth Amended and Restated Agreement of Limited Partnership of the Partnership dated as of February 2, 1998 (the “Original Agreement”) and to enter into this
Sixth Amended and Restated Limited Partnership Agreement of the Partnership to reorganize the Partnership and to provide such exchange and other rights as are necessary to reflect the public status of GPC Inc. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto hereby agree that the Fifth
Amended and Restated Agreement of Limited Partnership of the Partnership dated as of February 2, 1998 is hereby amended and restated in its entirety by this Sixth Amended and Restated Agreement of Limited Partnership and, as so amended and
restated hereby, shall read in its entirety as follows: 
 ARTICLE 1 
 THE LIMITED PARTNERSHIP 
 1.1 Prior Formation,
Recapitalization, Redemption and Contribution. 
 (a) The Partners have heretofore become partners in the Partnership which
was formed on April 3, 1989 to engage in the business hereinafter described for the period and upon the terms and conditions hereinafter set forth. 

 (b) On the date hereof, the Partnership will redeem the general partnership interest of GP
Corp in exchange for a limited partnership interest representing the same amount of such general partnership interest and BCP will become the sole general partner in the Partnership. 
 (c) Historically for convenience purposes the Partnership has tracked the percentage interest ownership of each of the Limited Partners and
the General Partners herein through calculating the number of nominal units in the Partnership held by each of the Limited Partners and the General Partners. On the date hereof, the Partnership Interest of each Partner will be formally denominated
as a pro rata number of “Units” (limited partnership or general partnership, as applicable) as set forth on Schedule 2 hereto. 
 (d) On the IPO Effective Date, GPC Inc. will contribute net proceeds from the primary offering of newly issued shares in the IPO in exchange for a number of Units equal to the number of shares of Common
Stock issued in such offering in accordance with Section 4.6. 
 (e) The General Partner shall amend Schedule 1 to
reflect the Partnership Units of each Partner after the transactions occurring on the IPO Effective Date and contemplated by this Section 1.1. 
 1.2 Certificate of Limited Partnership. The General Partner on the date hereof executed and caused to be filed an Amended and Restated Certificate of Limited Partnership of the Partnership
(hereinafter referred to as the “Certificate”) in the office of the Secretary of State of the Commonwealth of Pennsylvania, and hereafter shall execute such further documents (including any further amendments to the Certificate) and
take such further action as shall be appropriate to comply with all requirements of law for the continuing operation of a limited partnership in the Commonwealth of Pennsylvania and all other counties and states where the Partnership may elect to do
business. 
 1.3 Name. The name of the Partnership shall be Graham Packaging Holdings Company. The General Partner may
change the name of the Partnership or cause the business of the Partnership to be conducted under any other name. 
 1.4
Character of Business. The Partnership was formed for the object and purpose of, and the nature of the business to be conducted by the Partnership is, engaging in any lawful act or activity for which limited partnerships may be formed under
the Act. The business of the Partnership shall be conducted in accordance with, and any action required or permitted to be taken by the General Partner or any Limited Partner shall be taken in compliance with, all applicable laws, rules and
regulations. Such business may be conducted directly by the Partnership or through such subsidiary corporations, partnerships or other entities as the General Partner deems advisable. 
 1.5 Principal Offices. The location of the principal offices of the Partnership shall be at 2401 Pleasant Valley Road, York,
Pennsylvania, 17402, or at such other location as may be selected from time to time by the General Partner. The Partnership may maintain such other offices at such other places as the General Partner deems advisable. 
 1.6 Fiscal Year. The fiscal year of the Partnership shall be the calendar year (the “Partnership Year”). 

1.7 Accounting Matters. Unless otherwise specified herein, all accounting determinations hereunder shall be made, all accounting
terms used herein shall be interpreted, and all financial statements required to be delivered hereunder shall be prepared, in accordance with Generally Accepted Accounting Principles (as herein defined). 

 ARTICLE 2 
 DEFINITIONS 
 The following defined terms used in this Agreement shall have
the respective meanings specified below. 
 2.1 Act. “Act” shall mean the Pennsylvania Revised Uniform
Limited Partnership Act (15 Pa. Cons. Stat. ch. 85), as amended from time to time and any successor to such Act. 
 2.2
Affiliate. “Affiliate” of any Person means any other Person that, directly or indirectly, through one or more intermediaries, controls or is controlled by or is under common control with such person or entity. A Person shall
be deemed to be controlled by another Person if such other Person possesses, directly or indirectly, power to direct or cause the direction of management and policies of such Person whether by ownership of equity or other securities, by contract or
otherwise, provided that any Person of which any other Person owns beneficially or of record, either directly or through one or more intermediaries, more than twenty-five percent (25%) of the ownership interests, shall be conclusively presumed
to be an “Affiliate,” provided that Techne Techipack Engineering Italia SPA shall not be an Affiliate of the Graham Partners or any of their Affiliates. 
 2.3 Agreement. This “Agreement” shall refer to this Sixth Amended and Restated Agreement of Limited Partnership, including the Schedules hereto, as the same may be amended from
time to time. 
 2.4 Auditor. “Auditor” shall mean Deloitte & Touche LLP or any successor firm
of independent auditors selected by the General Partner. 
 2.5 Available Cash. “Available Cash” shall
mean at any point in time all cash and cash equivalents on hand of the Partnership and other cash generated from any other source (including, without limitation, any proceeds from any borrowings made under the credit facilities of the Partnership
and its subsidiaries to effect the distributions under Section 5.1(b)(i) hereof (for which the General Partner shall cause such borrowing, if necessary, to fund such distribution to the extent permitted under such credit facilities)), less cash
reasonably reserved or reasonably anticipated to be required for debts and expenses, interest and scheduled principal payments on any indebtedness, capital expenditures, taxes or the activities of the Partnership (including payments to Partners
under any agreement other than this Agreement). 
 2.6 Bankruptcy. The “Bankruptcy” of a Partner shall
mean (i) the filing by a Partner of a voluntary petition seeking liquidation, reorganization, arrangement or readjustment, in any form, of its debts under Title 11 of the United States Code or any other federal or state insolvency law, or a
Partner’s filing an answer consenting to or acquiescing in any such petition, (ii) the making by a Partner of any assignment for the benefit of its creditors or (iii) the expiration of sixty days after the filing of an involuntary
petition under Title 11 of the United States Code, an application for the appointment of a receiver for the assets of a Partner, or an

 
involuntary petition seeking liquidation, reorganization, arrangement or readjustment of its debts under any other federal or state insolvency law, provided that the same shall not have been
vacated, set aside or stayed within such sixty day period. 
 2.7 Capital Account. The “Capital Account”
of a Partner shall be (a) credited with (i) the amount of cash or, in the case of non-cash asset contributions, the gross fair market value of such capital contributions as agreed upon by the Partners at the time such contribution is made
less liabilities assumed by the Partnership in connection with such contributions (or to which any such contributed assets are subject) and (ii) such Partner’s allocable share of Profits of the Partnership and (b) debited with
(i) the amount of any cash and the fair market value of any property distributed to it pursuant to Section 5.1, and (ii) such Partner’s allocable share of Losses of the Partnership. 
 2.8 Catch Up Amount. The “Catch Up Amount” shall mean an amount equal to the sum of (i) the product of
(A) the Graham Partners Excess Distribution Amount, multiplied by (B) the quotient of (x) the aggregate Percentage Interest of the General Partner and GPC Inc. divided by (y) the Graham Partners’ aggregate Percentage
Interest and (ii) the Return Amount. 
 2.9 Certificate. The “Certificate” shall have the meaning
ascribed to such term in Section 1.2 of this Agreement. 
 2.10 Class. “Class” means the classes of
Units into which the interests in the Partnership may be classified or divided from time to time pursuant to the provisions of this Agreement. 
 2.11 Code. The “Code” shall mean the Internal Revenue Code of 1986, as amended and in effect from time to time, or the corresponding provisions of any successor statute.

 2.12 Common Stock. “Common Stock” means common stock, par value $0.01 per share, of GPC Inc.

 2.13 DCG. “DCG” shall mean Donald C. Graham. 
 2.14 Depreciation. “Depreciation” shall mean, for each fiscal year or other period, an amount equal to the
depreciation, amortization or other cost recovery deduction allowable with respect to an asset for such year or other period, except that if the Gross Asset Value of an asset differs from its adjusted basis for federal income tax purposes at the
beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization or other cost recovery deduction for such year or other
period bears to such beginning adjusted tax basis. 
 2.15 Exchange Act. “Exchange Act” means the United
States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 2.16 Exchange
Agreement. “Exchange Agreement” means the Exchange Agreement, dated as of the IPO Effective Date, providing for the exchange of Partnership Units for shares of Common Stock, as amended from time to time. 

 2.17 Exchange Transaction. “Exchange Transaction” means an exchange
of Units for shares of Common Stock pursuant to, and in accordance with, the Exchange Agreement (or such other exchange agreement) or, if GPC Inc. and the exchanging Limited Partner shall mutually agree, a Transfer of Units to GPC Inc., the
Partnership or any of their subsidiaries for other consideration. 
 2.18 Event of Withdrawal. “Event of
Withdrawal” shall have the meaning ascribed to such term in Section 10.1 of this Agreement. 
 2.19 General
Partner. “General Partner” means BCP or any successor general partner admitted to the Partnership in accordance with the terms of this Agreement. 
 2.20 Generally Accepted Accounting Principles. “Generally Accepted Accounting Principles” shall refer to generally accepted accounting principles as in effect from time to time in
the United States of America. 
 2.21 GP Corp. “GP Corp” shall have the meaning ascribed to such term in
the first paragraph of this Agreement. 
 2.22 GPC Partners. “GPC Partners” shall have the meaning
ascribed to such term to the first paragraph of this Agreement. 
 2.23 Graham Partners. “Graham
Partners” shall have the meaning ascribed to such term in the first paragraph of this Agreement. 
 2.24 Graham
Partners Excess Distribution Amount. “Graham Partners Excess Distribution Amount” shall mean an amount equal to the excess of (i) distributions made to the Graham Partners pursuant to Section 5.1(b)(i) over
(ii) the product of (A) distributions made to the GPC Partners pursuant to Section 5.1(b)(i) multiplied by (B) the quotient of (x) the Graham Partners’ aggregate Percentage Interests divided by (y) the GPC
Partners’ aggregate Percentage Interests. 
 2.25 Gross Asset Value. “Gross Asset Value” shall
mean, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows: 
 (1) The
initial Gross Asset Value of any asset contributed by a Partner to the Partnership shall be the gross fair market value of such asset at the time of such contribution, as agreed to by the Partners; 
 (2) The Gross Asset Values of all Partnership assets shall be adjusted to equal their respective gross fair market values, as agreed to by
the Partners, as of the following times: (a) the date of this Agreement and the date of any other acquisition of an additional interest in the Partnership by any new or existing Partner in exchange for more than a de minimis capital
contribution; (b) the distribution by the Partnership to a Partner of more than a de minimis amount of Partnership property other than money, unless all Partners receive simultaneous distributions of undivided interests in the distributed
property in proportion to their respective Percentage Interests; and (c) the liquidation of the Partnership within the meaning of Treas. Reg. § 1.704-l(b)(2)(ii)(g); and 

 (3) The Gross Asset Value of any Partnership asset distributed to any Partner shall be the
gross fair market value of such asset on the date of distribution. 
 If the Gross Asset Value of an asset has been determined or adjusted
pursuant to Subsections 2.23(1) or (2) hereof, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits and Losses. 
 2.26 IPO Effective Date. “IPO Effective Date” means the date on which the IPO is consummated. 
 2.27 Limited Partner. “Limited Partner” means each of the Persons from time to time listed as a limited partner of
the Partnership in the books and records of the Partnership. 
 2.28 Opco. “Opco” shall mean Graham
Packaging Company, L.P., a Delaware limited partnership (formerly known as Graham Packaging Holdings I, L.P.). 
 2.29 Opco
Partnership Agreement. “Opco Partnership Agreement” shall mean the Agreement of Limited Partnership of Opco. 
 2.30 Original Agreement. “Original Agreement” shall have the meaning ascribed to such term in the second WHEREAS clause of this Agreement. 
 2.31 Partner. “Partner” means, at any time, each person listed as a partner of the Partnership (including the
General Partner) on the books and records of the Partnership, in each case for so long as he, she or it remains a partner of the Partnership as provided hereunder. 
 2.32 Partnership. “Partnership” shall have the meaning ascribed to such term in the first WHEREAS clause of this Agreement. 
 2.33 Partnership Interest. “Partnership Interest” shall refer, with respect to a given Partner as of a given date,
to such Partner’s general partner interest in the Partnership (if any) and such Partner’s limited partner interest in the Partnership (if any), in each case denominated as Units and as of such date. 
 2.34 Partnership Year. “Partnership Year” shall have the meaning ascribed to such term in Section 1.6.

 2.35 Percentage Interest. “Percentage Interest” means, with respect to any Partner, the quotient
obtained by dividing the number of Units then owned by such Partner by the number of Units then owned by all Partners. 
 2.36
Person. “Person” shall include an individual, a partnership, a corporation, a limited liability company, a trust, an unincorporated organization, a government or any department or agency thereof, and any other entity.

 2.37 Profits and Losses. “Profits” and “Losses” shall mean, for each fiscal year or
other period, an amount equal to the Partnership’s taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be
stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss), with the following adjustments: 
 (i) Any income of the Partnership that is exempt from federal income tax and not otherwise taken into account in computing Profits or Losses pursuant to this Section 2.38 shall be added to such
taxable income or loss; 

 (ii) Any expenditures of the Partnership described in Section 705(a)(2)(B) of the Code
or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treas. Reg. ‘ 1.704-l(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses pursuant to this Section 2.38, shall be subtracted from such
taxable income or loss; 
 (iii) In the event the Gross Asset Value of any Partnership asset is adjusted pursuant to Subsection
2.23(2) or (3) hereof, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Profits or Losses; 
 (iv) Gain or loss resulting from any disposition of Partnership property with respect to which gain or loss is recognized for federal income
tax purposes shall be computed by reference to the Gross Asset Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Gross Asset Value; and 
 (v) In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or
loss, there shall be taken into account Depreciation for such fiscal year or other period. 
 (vi) Prior to a distribution in
kind assets shall be marked to market and the book gain shall be considered an item of Profit. 
 2.38 Recapitalization
Agreement. “Recapitalization Agreement” shall mean the Agreement and Plan of Recapitalization, Redemption and Purchase dated as of December 18, 1997, by and among the Partnership, the Graham Partners, the GPC Partners,
Graham Engineering Corporation, Graham Recycling Corporation and DCG. 
 2.39 Regulations or Treas. Reg.
“Regulations” or “Treas. Reg.” shall mean the regulations promulgated under the Code. 
 2.40
Return Amount. “Return Amount” shall mean an amount equal to a 5% annual compounded return on the Graham Partners Excess Distribution Amount running from the date such excess distribution is made until the related Catch Up
Amount is paid. 
 2.41 Securities Act. “Securities Act” means the U.S. Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
 2.42 Transfer. “Transfer” shall mean
any assignment, mortgage, hypothecation, transfer, pledge, creation of a security interest in or lien upon, encumbrance, gift or other disposition (including an Exchange Transaction). 
 2.43 Units. “Units” means units and any other interests in the Partnership denominated as “Units” that is
established in accordance with this Agreement, which shall constitute interests in the Partnership as provided in this Agreement and under the Act, entitling the holders thereof

 
to the relative rights, title and interests in the profits, losses, deductions and credits of the Partnership at any particular time as set forth in this Agreement, and any and all other benefits
to which a holder thereof may be entitled as a Partner as provided in this Agreement, together with the obligations of such Partner to comply with all terms and provisions of this Agreement. 
 2.44 General Provisions. As used in this Agreement, except as the context otherwise requires, each term stated in either the singular
or the plural shall include the singular and the plural, and pronouns stated in the masculine, feminine or neuter gender shall include the masculine, feminine and the neuter. The words “herein”, “hereof” and “hereunder”
and other words of similar import refer to this Agreement as a whole, including the Schedules hereto, and not to any particular Article, Section, Subsection, Clause or Subdivision contained in this Agreement. 
 ARTICLE 3 
 CAPITAL ACCOUNTS 
 3.1 Capital Accounts. A Capital Account shall be maintained for each Partner on the
books of the Partnership. 
 3.2 Negative Capital Accounts. At no time during the term of the Partnership or upon
dissolution and liquidation thereof shall a Limited Partner with a negative balance in its Capital Account have any obligation to the Partnership or the other Partners to restore such negative balance. 
 3.3 Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the
maintenance of capital accounts are intended to comply with Section 704(b) of the Code and Treas. Reg. § 1.704-l(b) and § 1.704-2 (or any corresponding provision of succeeding law) and shall be interpreted and applied in a
manner consistent with such Regulation. 
 3.4 Succession to Capital Accounts. In the event any interest in the
Partnership is transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred interest. For purposes of the preceding sentence, the
portion of the Capital Account to which the transferee succeeds shall be that percentage of the transferor’s total Capital Account as the Percentage Interest being transferred bears to the total Percentage Interest of the transferor.

 3.5 Certain Adjustments. In the event the Gross Asset Values of the assets of the Partnership are adjusted pursuant to
the provisions of this Agreement, the Capital Accounts of all Partners shall be adjusted simultaneously to reflect the aggregate net adjustment as if the Partnership recognized gain or loss equal to the amount of such aggregate net adjustment.

 3.6 No Withdrawal of Capital Contributions. No Partner shall withdraw the balance of its Capital Account without the
unanimous written approval of the other Partners. No Partner shall receive any interest with respect to the balance of its Capital Account. 

 3.7 Other Payments. Notwithstanding anything herein to the contrary, the Capital
Account of a Partner will not be adjusted by a payment, if any, made pursuant to either Section 1.2 (Adjustments) or Section 10.1 (Indemnification) of the Recapitalization Agreement or the event giving rise to such payment. 
 ARTICLE 4 
 PARTNERSHIP UNITS 
 4.1 Partnership Interests. Interests in the Partnership shall be represented by
Units, such other Class or Classes of equity interests in the Partnership, or such other Partnership securities, as the General Partner may establish in its sole discretion in accordance with the terms hereof. The General Partner may establish other
Classes of Units, other equity interests in the Partnership or other Partnership securities from time to time in accordance with such procedures and subject to such conditions and restrictions and with such rights, obligations, powers, designations,
preferences and other terms, which may be senior to any then existing or future Classes of Units, other equity interests in the Partnership or other Partnership securities, as the General Partner shall determine from time to time in its sole
discretion, without the vote or consent of any Limited Partner or any other Person, including (i) the right of such Units, other equity interests or other Partnership securities to share in Profits and Losses or items thereof; (ii) the
right of such Units, other equity interests or other Partnership securities to share in Partnership distributions; (iii) the rights of such Units, other equity interests or other Partnership securities upon dissolution and liquidation of the
Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem such Units or other equity interests or other Partnership securities (including sinking fund provisions); (v) whether
such Units or other equity interests or other Partnership securities are issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which such
Units or other equity interests or other Partnership securities will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other equity interests or
other Partnership securities; (viii) the terms and conditions of the issuance of such Units or other equity interests or other Partnership securities; and (ix) the right, if any, of the holder of such Units or other equity interests or
other Partnership securities to vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other equity interests or other Partnership securities. The General
Partner, without the vote or consent of any Limited Partner or any other Person, is authorized (i) to issue any Units, other equity interests in the Partnership or other Partnership securities of any such newly established Class or any existing
Class and (ii) to amend this Agreement to reflect the creation of any such new Class, the issuance of Units, other equity interests in the Partnership or other Partnership securities associated with such Class, and the admission of any Person
as a Limited Partner which has received Units or other equity interests of any such Class, in accordance with Sections 9.7 and 11. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the
Units and any other Classes of Units that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified
in this Agreement. 

 4.2 Register. The register of the Partnership shall be the definitive record of
ownership of each Unit and all relevant information with respect to each Partner. Unless the General Partner shall determine otherwise, Units shall be uncertificated and recorded in the books and records of the Partnership. 
 4.3 Splits, Distributions and Reclassifications. The Partnership shall not in any manner subdivide (by any Unit split, Unit
distribution, reclassification, recapitalization or otherwise) or combine (by reverse Unit split, reclassification, recapitalization or otherwise) the outstanding Units unless an identical event is occurring with respect to the Common Stock, in
which event the Units shall be subdivided or combined concurrently with and in the same manner as the Common Stock. 
 4.4
Cancellation of Common Stock and Units. At any time a share of Common Stock is redeemed, repurchased, acquired, cancelled or terminated by GPC Inc., one (1) Unit registered in the name of GPC Inc. will automatically be cancelled for no
consideration by the Partnership so that the aggregate number of Units held by the General Partner and GPC Inc. at all times equals the number of shares of Common Stock outstanding. 
 4.5 Incentive Plans. At any time GPC Inc. issues a share of Common Stock pursuant to an Incentive Plan (whether pursuant to the
exercise of a stock option or the grant of a restricted share award or otherwise), the following shall occur: (a) GPC Inc. shall be deemed to contribute to the capital of the Partnership an amount of cash equal to the current per share market
price of a share of Common Stock on the date such share is issued (or, if earlier, the date the related option is exercised) and the Capital Account of GPC Inc. shall be adjusted accordingly; (b) the Partnership shall be deemed to purchase from
GPC Inc. a share of Common Stock for an amount of cash equal to the amount of cash deemed contributed by GPC Inc. to the Partnership in clause (a) above (and such share is deemed delivered to its owner under the Incentive Plan); (c) the
net proceeds (including the amount of any payments made on a loan with respect to a stock purchase award) received by GPC Inc. with respect to such share, if any, shall be concurrently transferred and paid to the Partnership (and such net proceeds
so transferred shall not constitute a capital contribution); and (d) the Partnership shall issue to GPC Inc. one (1) Unit registered in the name of GPC Inc. The Partnership shall retain any net proceeds that are paid directly to the
Partnership. 
 4.6 Offerings of Common Stock. At any time GPC Inc. issues a share of Common Stock other than pursuant to
an Incentive Plan, the net proceeds received by GPC Inc. with respect to such share, if any, shall be concurrently contributed to the Partnership and the Partnership shall issue to GPC Inc. one (1) Unit registered in the name of GPC Inc;
provided that, this Section 4.6 shall not apply to any shares of Common Stock issued by GPC Inc. in connection with (A) any direct or indirect business combination or acquisition transaction involving GPC Inc., (B) any joint venture
or strategic partnership entered into by GPC Inc. or (C) to financial institutions, commercial lenders, brokers/finders or any similar party, or to respective designees, in connection with the incurrence or guarantee of indebtedness by GPC Inc.
or any of its subsidiaries. 
 4.7 Registered Partners. The Partnership shall be entitled to recognize the exclusive
right of a Person registered on its records as the owner of Units for all purposes and shall not be

 
bound to recognize any equitable or other claim to or interest in Units on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided
by the Act. 
 ARTICLE 5 
 DISTRIBUTIONS; PARTNERSHIP ALLOCATIONS; TAX MATTERS 
 5.1 Distributions
Prior to Dissolution. (a) Except as provided in Section 10.3 and Section 5.1(b), all distributions on and after the date of this Agreement shall be made to the Partners in proportion to their respective Percentage Interests.

 (b) Available Cash shall be distributed to the Partners at the following times and in the following amounts: 
 (i) Subject to the provisions of the outstanding indebtedness of the Partnership, on or before the fifth business day prior to the date an
estimated tax payment is due for a Partner, Available Cash shall be distributed to each Partner in an amount equal to the product of (1) the highest combined marginal individual or corporate federal, state and local income tax rates ((i)
including, to the extent applicable, if any, alternative minimum tax and (ii) taking into account any federal tax benefit for a deduction for state and local taxes) applicable to the taxable income of the Partnership allocated to any Partner
and in effect at the time of the distribution without regard to the identity or tax status of the Partners receiving the allocation of taxable income, times (2) the remainder, if any, of (A) the product of 25, 50, 75 or 100 percent for the
first (1st), second (2nd), third (3rd) or fourth (4th) required estimated tax installment payment for the fiscal year, respectively, times (a) the cumulative (as annualized) taxable income to be allocated to such Partner pursuant to
Section 5.3 for such fiscal year less (b) the cumulative taxable loss that has been allocated to such Partner to the extent such loss has not previously reduced taxable income pursuant to this provision, as estimated by the General Partner
in good faith as of the day for payment, minus (B) the sum of the cumulative distributions to such Partner pursuant to this provision for each prior required estimated tax installment payment during such fiscal year and the cumulative
distributions made to the Partners pursuant to Section 5.1(b)(iii)(B) to the extent such distributions have not previously reduced distributions pursuant to this Section 5.1(b)(i); and 
 (ii) Upon notice from the General Partner, the Partners or the Partnership, as the case may be, will reimburse the other for any difference
between the amount of distributions made to the Partners pursuant to Section 5.1(b)(i) and the amount of distributions that would have been made based on the actual taxable income reported on the Partnership’s tax return for such fiscal
year (the “Reimbursed Amount”). The General Partner shall provide notice to the Partners of the Reimbursed Amount as soon as practicable after the end of each fiscal year of the Partnership. Such Reimbursed Amount shall be effected
by adjusting distributions made to Partners in the next succeeding fiscal year and, thereafter, by the Reimbursed Amount until the Reimbursed Amount is zero; and 
 (iii) Any remaining Available Cash shall be distributed to the Partners at such times and in such amounts as the General Partner shall determine as follows: 
  

	 	(A)	First, 100% to the General Partner and GPC Inc. in proportion to their Percentage Interests until such Partners receive aggregate distributions equal to the Catch Up
Amount; and 

	 	(B)	Thereafter, to the Partners in proportion to their Percentage Interests. 

 5.2 Partnership Allocations. 
 (a) Except as otherwise provided in this
Section 5.2 or elsewhere in this Agreement, for purposes of this Agreement, and for federal, state and local income tax purposes, all items of Profits and Losses shall be determined with respect to each taxable year of the Partnership as of the
end thereof, and allocated to the Partners in accordance with their then Percentage Interests, except that Profits and all Losses from the sale or exchange of substantially all of the assets of the Partnership shall, in any event, be allocated to
and among the Partners, as the case may be, so as to produce Capital Accounts for the Partners equal to the amounts, sequence and priority that would be distributed to the Partners if all the Partnership Assets were distributed to the Partners in
accordance with the provisions of Section 5.1(b)(iii) of this Agreement. Each Partner’s Percentage Interest shall constitute its interest in partnership profits for purposes of determining such Partner’s share of nonrecourse
liabilities of the Partnership under Treas. Reg. § 1.752-3(a)(3). Accordingly, as of the date of this Agreement, the liabilities shall be allocated among the Partners based on each Partner’s Percentage Interest. 
 (b) Notwithstanding Subsection 5.2(a): 
 (i) Minimum Gain and Hypothetical Capital Accounts. For purposes of complying with Treasury Regulations relating to tax allocation, the Partnership’s “minimum gain,” “minimum
gain attributable to partner nonrecourse debt” and the Partners’ hypothetically adjusted Capital Accounts (“Hypothetical Capital Accounts”) must be determined from time to time. The amount of minimum gain or minimum gain
attributable to partner nonrecourse debt is determined in accordance with Treas. Reg. § 1.704-2(d) or § 1.704-2(i), as the case may be, by computing, with respect to each nonrecourse liability of the Partnership, the amount of
gain (of whatever character), if any, that would be realized by the Partnership if it disposed of (in a taxable transaction) the Partnership property subject to such liability in full satisfaction thereof, and by then aggregating the amounts so
computed. A Partners’ Hypothetical Capital Account shall equal its true Capital Account, increased by any amount that such Partner is treated as being obligated to restore under Treas. Reg. § 1.704-l(b)(2)(ii)(c) (including the
Partner’s share of minimum gain, computed as provided in Treas. Reg. § 1.704-2(g), and of minimum gain attributable to partner nonrecourse debt, computed as provided in Treas. Reg. § 1.704-2(i)(5)), and decreased by the
items described in Treas. Reg. § 1.704-l(b)(2)(ii)(d), clauses (4), (5) and (6). For purposes of determining each Partner’s share of minimum gain or minimum gain attributable to partner nonrecourse debt, any distributions funded
with the proceeds of nonrecourse liabilities shall be treated as allocable to the nonrecourse liabilities, if any, that were incurred by the Partnership in connection with such distributions. 
 (ii) Qualified Income Offset. A Partner who unexpectedly receives an adjustment, allocation, or distribution described in Treas. Reg.
§ 1.704-l(b)(2)(ii)(d), clauses (4), (5) and (6), that creates a deficit in his Hypothetical Capital Account shall be allocated items of

 
income and gain (consisting of a pro rata portion of each item of Partnership income, including gross income, and gain for such year) in an amount and manner sufficient to eliminate such deficit
as quickly as possible. 
 (iii) Minimum Gain Chargeback. If there is a net decrease in the Partnership’s minimum
gain or minimum gain attributable to partner nonrecourse debt during a Partnership taxable year, any Partner with a share of such minimum gain at the beginning of such year shall be allocated, before any other allocation is made of Partnership items
for such taxable year, items of income and gain for such year (and, if necessary, subsequent years) in proportion to, and to the extent of, such Partner’s share of such decrease in minimum gain in accordance with Treas. Reg.
§ 1.704-2(f) and § 1.704-2(i) (the “Minimum Gain Chargeback”). The Minimum Gain Chargeback allocated in any taxable year shall consist first of gains recognized from the disposition of items of Partnership
property subject to one or more nonrecourse liabilities of the Partnership to the extent of the decrease in Minimum Gain attributable to the disposition of such items of property, with the remainder of the Minimum Gain Chargeback, if any, made up of
a pro rata portion of the Partnership’s other items of income and gain for that year. 
 (iv) Special Limitation on
Losses Allocated to a Partner. No loss or deduction shall be allocated to a Partner to the extent that such allocation would reduce such Partner’s Hypothetical Capital Account below zero, and such loss or deduction shall instead be
allocated to the other Partners in proportion to the positive balances of their respective Hypothetical Capital Accounts. 
 (v)
Restoration. If any items of income, gain, loss or deduction shall be specially allocated pursuant to Paragraph (ii), (iii) or (iv) of this Subsection 5.2(b) then as quickly as possible thereafter (but not in such a manner as to
create or increase a deficit in any Partner’s Hypothetical Capital Account) items of income, gain, loss or deduction shall be specially allocated to the Partners so as to return all Capital Accounts to such balances as they would have had if no
such special allocations had been made pursuant to Paragraph (ii), (iii) or (iv) of this Subsection 5.2(b). 
 (vi)
Rule of Construction. This Section 5.2 is intended to satisfy the rules of Treas. Reg. § 1.704-1(b) and the rules for allocations attributable to nonrecourse liabilities set forth in Treas. Reg. § 1.704-2 and should
be so construed. 
 5.3 Tax Allocations; Code Section 704(c). 
 (a) For income tax purposes only, each item of income, gain, loss, deduction and credit of the Partnership shall be allocated among the
Partners in the same manner as the corresponding items of Profits and Losses and specially allocated items are allocated for Capital Account purposes. 
 (b) In accordance with Section 704(c) of the Code and the Treasury Regulations thereunder, income, gain, loss, and deduction with respect to any property contributed to the capital of the Partnership
shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of such property to the Partnership for federal income tax purposes and its initial Gross Asset Value. 

 (c) In the event the Gross Asset Value of any asset of the Partnership shall be adjusted
pursuant to the provisions of this Agreement, subsequent allocations of income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its
Gross Asset Value in the same manner as under Section 704(c) of the Code and the Treasury Regulations thereunder. 
 (d)
Any elections or other decisions relating to such Section 704(c) allocations and “reverse Section 704(c) allocations” shall be made by the Partners in any manner that reasonably reflects the purpose and intention of this
Agreement. Unless otherwise agreed by the Partners, the Partnership shall use the “traditional allocation method” for such allocations, in accordance with Treas. Reg. § 1.704-3(b). Section 704(c) allocations pursuant to this
Section 5.3 are solely for purposes of federal, state, and local taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Profits, Losses, other items, or distributions
pursuant to any provision of this Agreement. 
 5.4 Accounting Method. The books of the Partnership (for both tax and
financial reporting purposes) shall be kept on an accrual basis. 
 5.5 Withholding. Each Partner hereby authorizes the
Partnership to withhold and to pay over any taxes payable by the Partnership or any of its Affiliates as a result of such Partner’s participation in the Partnership; if and to the extent that the Partnership shall be required to withhold any
such taxes, such Partner shall be deemed for all purposes of this Agreement to have received a payment from the Partnership as of the time such withholding is required to be paid, which payment shall be deemed to be a distribution to such Partner to
the extent that the Partner is entitled to receive a distribution. To the extent that the aggregate of such payments to a Partner for any period exceeds the distributions to which such Partner is entitled for such period, the amount of such excess
shall be considered a demand loan from the Partnership to such Partner, with interest at an interest rate of 5% compounded annually, which interest shall be treated as an item of Partnership income until discharged by such Partner by repayment,
which may be made in the sole discretion of the General Partner out of distributions to which such Partner would otherwise be subsequently entitled. The withholdings referred to in this Section 5.5 shall be made at the maximum applicable
statutory rate under the applicable tax law unless the General Partner receives documentation, satisfactory to the General Partner, to the effect that a lower rate is applicable, or that no withholding is applicable. 
 5.6 Tax Treatment of Return Amounts. All Return Amounts shall constitute guaranteed payments for the use of capital, within the
meaning of Section 707(c) of the Code. 
 5.7 Distribution by Opco. The General Partner shall cause Opco to make
distributions of cash to the Partnership (to the extent funds are legally available therefor and permitted by applicable debt instruments) necessary for the Partnership to make the distributions required under this Article 5. 

 ARTICLE 6 
 MANAGEMENT 
 6.1 Rights and Duties of the Partners. 
 (a) The Limited Partners as limited partners in the Partnership shall not participate in the conduct, control or management of the business
of the Partnership, and the Limited Partners shall have no power to act for or bind the Partnership. Except as expressly provided herein, the Units do not confer any rights upon the Limited Partners to participate in the conduct, control or
management of the business of the Partnership described in this Agreement, which conduct, control and management shall be vested exclusively in the General Partner. In all matters relating to or arising out of the conduct of the operation of the
Partnership, the decision of the General Partner shall be the decision of the Partnership. Except as required or permitted by Law, or expressly provided in the ultimate sentence of this Section 6.1(a) or by separate agreement with the
Partnership, no Partner who is not also a General Partner (and acting in such capacity) shall take any part in the management or control of the operation or business of the Partnership in its capacity as a Partner, nor shall any Partner who is not
also a General Partner (and acting in such capacity) have any right, authority or power to act for or on behalf of or bind the Partnership in his or its capacity as a Partner in any respect or assume any obligation or responsibility of the
Partnership or of any other Partner. Notwithstanding the foregoing, the Partnership may employ one or more Partners from time to time, and such Partners, in their capacity as employees of the Partnership, may take part in the control and management
of the business of the Partnership to the extent such authority and power to act for or on behalf of the Partnership has been delegated to them by the General Partner. 
 (b) Pursuant to Pennsylvania law, each Limited Partner shall not be liable for losses or debts of the Partnership beyond the aggregate amount such Partner has contributed to the Partnership pursuant to
this Agreement plus his share of the undistributed net profits of the Partnership, except that a Partner may be liable under Pennsylvania law to repay certain distributions received by it. 
 6.2 Duty of General Partner. The General Partner shall have such duties and responsibilities with respect to the Partnership as are
required under applicable law. 
 6.3 Powers of General Partner. 
 (a) Subject to the terms and conditions of this Agreement (including without limitation Section 6.4) and Section 10 of the
Recapitalization Agreement, the General Partner shall have full and complete charge of all affairs of the Partnership, and the management and control of the Partnership’s business shall rest exclusively with the General Partner. Except as
otherwise provided in the Act or by this Agreement, the General Partner shall possess all of the rights and powers of a partner in a partnership without limited partners under Pennsylvania law. the General Partner shall be required to devote to the
conduct of the business of the Partnership such time and attention as is appropriate to accomplish the purposes, and to conduct properly the business, of the Partnership. Subject to applicable law, the General Partner shall not be obligated to do
any act or thing in connection with the Partnership other than pursuant to this Agreement. 

 (b) Subject to the limitations set forth in this Agreement (including without limitation
Section 6.4), the General Partner shall have the authority to perform or cause to be performed all management and operational functions relating to the business of the Partnership. Without limiting the generality of the foregoing, except as
otherwise provided in Section 6.4, the General Partner is authorized on behalf of the Partnership, in its sole discretion and without the approval of the Limited Partners, to: 
 (i) expend the capital and revenues of the Partnership in furtherance of the Partnership’s business as described in Section 1.4
and pay, in accordance with the provisions of this Agreement, all expenses, debts and obligations of the Partnership to the extent that funds of the Partnership are available therefor; 
 (ii) make investments in United States government securities, securities of governmental agencies, commercial paper, money market funds,
bankers’ acceptances, certificates of deposit, and any other debt instruments or other securities, pending disbursement of the Partnership funds in furtherance of the Partnership’s business as described in Section 1.4 or to provide a
source from which to meet contingencies; 
 (iii) enter into and terminate agreements and contracts with third parties in
furtherance of the Partnership’s business as described in Section 1.4, institute, defend and settle litigation arising therefrom, and give receipts, releases and discharges with respect to all of the foregoing; 
 (iv) maintain, at the expense of the Partnership, adequate records and accounts of all operations and expenditures and furnish any Partner
with the reports referred to in Section 8.2; 
 (v) purchase, at the expense of the Partnership, liability, casualty, fire
and other insurance and bonds to protect the Partnership’s properties, business, partners and employees and to protect the General Partners and their employees; 
 (vi) employ, at the expense of the Partnership, consultants, accountants, attorneys and others and terminate such employment; 
 (vii) execute and deliver any and all agreements, documents and other instruments necessary or incidental to the conduct of the business of the Partnership; 
 (viii) incur indebtedness, borrow funds and/or issue guarantees, in each case for the conduct of the Partnership’s business as
described in Section 1.4; 
 (ix) confess judgment on behalf of the Partnership; 
 (x) submit a Partnership claim to arbitration or reference; and 
 (xi) issue and sell additional Partnership Units (other than General Partnership Units) or other securities of the Partnership or any of its
subsidiaries. 

 (c) Notwithstanding the foregoing, the General Partner may, without the written consent of
any Limited Partner or any other Person, amend, supplement, waive or modify any provision of this Agreement and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, to reflect:
(i) any amendment, supplement, waiver or modification that the General Partner determines to be necessary or appropriate in connection with the creation, authorization or issuance of any Class of Units or other equity interests in the
Partnership or other Partnership securities in accordance with this Agreement; (ii) the admission, substitution, withdrawal or removal of Partners in accordance with this Agreement; (iii) a change in the name of the Partnership, the
location of the principal place of business of the Partnership, the registered agent of the Partnership or the registered office of the Partnership; (iv) any amendment, supplement, waiver or modification that the General Partner determines in
its sole discretion to be necessary or appropriate to address changes in U.S. federal income tax regulations, legislation or interpretation; or (v) a change in the Fiscal Year or taxable year of the Partnership and any other changes that the
General Partner determines to be necessary or appropriate as a result of a change in the Fiscal Year or taxable year of the Partnership including a change in the dates on which distributions are to be made by the Partnership; provided, that
the books and records of the Partnership shall be deemed amended from time to time to reflect the admission of a new Partner, the withdrawal or resignation of a Partner, and the adjustment of the Units resulting from any Transfer or other
disposition of a Unit, in each case that is made in accordance with the provisions hereof. 
 (d) The General Partner may, in
its sole discretion, unilaterally amend this Agreement on or before the effective date of the final regulations to provide for (i) the election of a safe harbor under Proposed Treasury Regulation Section 1.83-3(l) (or any similar
provision) under which the fair market value of a partnership interest that is transferred is treated as being equal to the liquidation value of that interest, (ii) an agreement by the Partnership and each of its Partners to comply with all of
the requirements set forth in such regulations and Notice 2005-43 (and any other guidance provided by the Internal Revenue Service with respect to such election) with respect to all partnership interests transferred in connection with the
performance of services while the election remains effective, (iii) the allocation of items of income, gains, deductions and losses required by the final regulations similar to Proposed Treasury Regulation Section 1.704-1(b)(4)(xii)(b) and
(c), and (iv) any other related amendments. 
 (e) Except as may be otherwise required by law in connection with the
winding-up, liquidation, or dissolution of the Partnership, each Partner hereby irrevocably waives any and all rights that it may have to maintain an action for judicial accounting or for partition of any of the Partnership’s property.

 By executing this Agreement, each Partner shall be deemed to have consented to any exercise by General Partner of any of the foregoing
powers. 

 6.4 Restrictions on General Partner Authority. Notwithstanding any other provision of
this Agreement, the General Partner shall not have authority, on behalf of the Partnership, either directly or indirectly, without the prior written approval of the Limited Partners and except in connection with actions permitted by this Agreement
or as otherwise contemplated hereby: 
 (i) to take any action that would result in the failure of the Partnership to be taxable
as a partnership for purposes of federal income tax, or take any position inconsistent with treating the Partnership as a partnership for purposes of federal income tax, except as required by law; and 
 (ii) to elect to dissolve the Partnership, except pursuant to a sale of substantially all assets of the Partnership or otherwise as
expressly permitted herein. 
 6.5 Compensation. For so long as the Graham Partners or any Affiliate thereof do not
directly or indirectly sell more than two-thirds (2/3) in the aggregate of their interests in Partnership Interests owned on February 2, 1998 (or Common Stock for which such Partnership Interests have been or are eligible to be
exchanged), the Partnership shall pay GPCLP or such other entity designated by the Graham Partners a fee of $1,000,000 per annum, payable in four equal quarterly installments on March 31, June 30, September 30 and
December 31 of each year. Any Graham Partner or Affiliate thereof that directly or indirectly sells any Common Stock for which Partnership Interests have been or are eligible to be exchanged, shall promptly notify the General Partner
upon the consummation of such sales. 
 6.6 Other Activities. Any Partner (other than BCP in such capacity) (the
“Interested Party”) may engage in or possess an interest in other business ventures of any nature or description, independently or with others, whether presently existing or hereafter created, and neither the Partnership nor any
Partner (including BCP) other than the Interested Party shall have any rights in or to such independent ventures or the income or profits derived therefrom. 
 ARTICLE 7 
 COSTS AND EXPENSES AND COMPENSATION 
 The Partnership shall (i) pay or cause to be paid all reasonable costs and expenses of the Partnership incurred in pursuing and
conducting, or otherwise related to, the business of the Partnership, including in connection with the IPO and any subsequent action taken by the General Partner with respect to the business of the Partnership, and (ii) reimburse the General
Partner for any reasonable out-of-pocket costs and expenses reasonably incurred by either of them in connection therewith (including, without limitation, in the performance of its duties as tax matters partner). The General Partner shall be entitled
to reimbursement of all of its expenses attributable to the performance of its obligations hereunder. Subject to the Act, no amount so paid shall be deemed to be a distribution of Partnership assets for purposes of this Agreement. Except for
reimbursement of their expenses and their right to distributions as provided in this Agreement, the General Partner shall not receive any compensation for its services as such. 

 ARTICLE 8 
 ACCOUNTS 
 8.1 Books and Records. The General Partner shall maintain
complete and accurate books of account of the Partnership’s affairs at the Partnership’s principal office, including a list of the names and addresses of all Partners. Each Partner shall have the right to inspect the Partnership’s and
its subsidiaries’ books and records (including the list of the names and addresses of Partners) and all financial and other information of the Partnership and its subsidiaries. Each of the Partners shall have the right to audit independently
the books and records and all financial and other information of the Partnership and its subsidiaries, any such audit being at the sole cost and expense of the Partner conducting such audit. In addition, the Graham Partners shall be permitted to
audit the books and records of the General Partner, and GPC Inc. shall be permitted to audit the books and records of GP Corp, as they relate to costs and expenses reimbursed by the Partnership to the General Partner pursuant to Article 7 hereto.

 8.2 Reports, Returns and Audits. 
 (a) The books of account shall be closed promptly after the end of each Partnership Year. The books and records of the Partnership shall be audited on a consolidated basis as of the end of each
Partnership Year by the Auditor. 
 (b) Prior to July 15 of each year, each person who was a Partner at any time during the
previous Partnership Year shall be provided with an information letter (containing such Partner’s Form K-1 or comparable information) with respect to its distributive share of income, gains, deductions, losses and credits for income tax
reporting purposes for such Partnership Year, together with any other information concerning the Partnership necessary for the preparation of a Partner’s income tax return(s), and the Partnership shall provide each Partner with an estimate of
the information to be set forth in such information letter by no later than March 15 of each year. With the sole exception of mathematical errors in computation, the financial statements and the information contained in such information letter
shall be deemed conclusive and binding upon such Partner unless written objection shall be lodged with the General Partner within ninety days after the giving of such information letter to such Partner. 
 (c) The General Partner shall prepare or cause to be prepared all federal, state and local tax returns of the Partnership (the
“Returns”) for each year or other period for which such Returns are required to be filed. To the extent permitted by law, for purposes of preparing the Returns, the Partnership shall use the Partnership Year. Subject to applicable
law, the General Partner shall determine the appropriate treatment of each item of income, gain, loss, deduction and credit of the Partnership and the accounting methods and conventions under the tax laws of the United States, the several states and
other relevant jurisdictions as to the treatment of any such item or any other method or procedure related to the preparation of such Returns. The General Partner may make any elections under the Code and/or applicable state or local tax laws, and
the General Partner shall be absolved from all liability for any and all consequences to any previously admitted or subsequently admitted Partners resulting from its making or failing to make any such election. Notwithstanding the foregoing, the
General Partner shall make the election provided for in Section 754 of the Code, if requested to do so by any Partner. 

 (d) The General Partner shall be the “tax matters partner,” as such term is
defined in Section 6231(a)(7) of the Code. The Tax Matters Partner shall be authorized to incur reasonable expenses in the performance of its duties pursuant to this Section 8.2(e). The Partnership shall bear the cost of such expenses.

 ARTICLE 9 
 TRANSFERS 
 9.1 Transfer of a Limited Partner’s Interest. 
 (a) Except as otherwise provided in this Article 9, no Limited Partner may Transfer its Partnership Interest or any portion thereof to any
Person without the consent of the General Partner. 
 (b) Notwithstanding clause (a) above, (i) each Graham Partner
may Transfer its Units or any portion thereof for shares of Common Stock of GPC Inc. in an Exchange Transaction pursuant to, and in accordance with, the Exchange Agreement and (ii) any other Limited Partners (other than GPC Inc.) may Transfer
Units or any portion thereof for shares of Common Stock of GPC Inc. in an Exchange Transaction pursuant to, and in accordance with, an exchange agreement in form and substance reasonably satisfactory to the General Partner. 
 (c) The Limited Partners agree, upon request of the General Partner to execute such certificates or other documents and perform such acts as
the General Partner reasonably deems appropriate to preserve the status of the Partnership as a limited partnership, after the completion of any permitted Transfer of an interest in the Partnership, under the laws of the Commonwealth of
Pennsylvania. 
 9.2 Allocation of Distributions Subsequent to Assignment. All Profits and Losses of the Partnership
attributable to any Partnership Interest acquired by reason of any Transfer of such Partnership Interest and any distributions made with respect thereto shall be allocated using a method determined by the General Partner (i) in respect of the
portion of the Partnership Year ending on the effective date of the Transfer, to the transferor and (ii) in respect of subsequent periods, to the transferee. All distributions on or before the date of such Transfer shall be made to transferor,
and all distributions thereafter shall be made to the transferee. The effective date of any Transfer permitted under this Agreement, subject to the provisions of Section 9.5 below, shall be the close of business on the day the Partnership is
notified of the Transfer. 
 9.3 Death, Incompetence, Bankruptcy, Liquidation or Withdrawal of a Limited Partner. The
death, incompetence, Bankruptcy, liquidation or withdrawal of a Limited Partner shall not cause (in and of itself) a dissolution of the Partnership, but the rights of such a Limited Partner to share in the Profits and Losses of the Partnership, to
receive distributions and to assign its Interest pursuant to this Article 9, on the happening of such an event, shall devolve on its beneficiary or other successor, executor, administrator, guardian or other legal representative for the purpose of
settling its estate or administering its property, and the Partnership shall continue as a limited partnership. Such successor or personal representative, however, shall become a substituted limited partner only upon compliance with the requirements
of Section 9.6 hereof with respect to a transferee of a Partnership Interest. The estate of a Bankrupt Limited Partner shall be liable for all the obligations of the Limited Partner. 

 9.4 Permitted Transfers of Graham Partners. 
 (a) Right of First Refusal. 
 (i) If any Graham Partner (a “Graham Selling Partner”) proposes to transfer any Partnership Interests to any Person (other than as provided in Section 9.4(b)(i), (ii), (iii) or
(iv)) pursuant to a bona fide written offer to purchase such Partnership Interests (a “Bona Fide Offer”), then such Graham Selling Partner shall first give to the Partnership and to the GPC Partners a written notice (a
“Notice of Sale”) setting forth in reasonable detail the terms and conditions under which the Graham Selling Partner proposes to sell such Partnership Units pursuant to the Bona Fide Offer. 
 (ii) Upon receipt of a Notice of Sale from a Graham Selling Partner, the Partnership shall have the right, exercisable upon written notice
to the Graham Selling Partner and the GPC Partners within 30 days after the date of the Notice of Sale, to elect to purchase, directly or through a designee, all or a portion (subject to (iv) below) of the Partnership Units proposed to be sold
by the Graham Selling Partner at a purchase price equal to the purchase price per unit specified in the Notice of Sale (the “Specified Price”). Such notice shall state the percentage of Partnership Units to be purchased by the
Partnership and that the Partnership shall purchase such Partnership Interests within 60 days of the date of receipt of the Notice of Sale. 
 (iii) In the event that the Partnership shall elect not to purchase, or direct to an assignee the purchase of, all of the Partnership Interests subject to the Notice of Sale, the Partnership shall so
notify the GPC Partners in writing (the “Partnership Notice”) within 30 days after the date of the Notice of Sale. In such event, any GPC Partner shall have the right, exercisable upon written notice to the Graham Selling Partner
within 20 days after receipt of the Partnership Notice, to elect to purchase any or all Partnership Interests not purchased by the Partnership that are proposed to be sold by the Graham Selling Partner at the Specified Price (the “Purchasing
Partner”). Such notice shall state the percentage of Partnership Interests to be purchased by the Purchasing Partner and that the Purchasing Partner shall purchase such Partnership Interests within 60 days of the date of receipt of the
Partnership Notice. 
 (iv) If the Partnership and the GPC Partners do not exercise their purchase rights in the manner and
within the time periods provided in this Section 9.4(a) with respect to all of the Partnership Interests offered in the Notice of Sale, the Graham Selling Partner may sell all, but not less than all, of the Partnership Units subject to the
Notice of Sale to any Person, for not less than the Specified Price and upon the terms set forth in the Notice of Sale. Any such sale must be consummated within 120 days of the date of the Notice of Sale. 
 (v) Any Partnership Units not sold pursuant to the provisions of paragraphs (i) through (iv) above shall again be subject to the
restrictions contained in this Agreement and shall not thereafter be transferred, except in compliance with this Agreement. 
 (b) Notwithstanding anything to the contrary contained in this Agreement, each Graham Partner and, commencing on the anniversary of the date hereof, GP Corp shall be

 
permitted to Transfer all or any portion of its respective Partnership Interests, without the consent of any other Partner, to (i) any Affiliate of such Graham Partner, (ii) any family
member of DCG and any trusts created for their benefit, (iii) any employee of such Graham Partner or its Affiliates and (iv) any Person in accordance with Section 9.4(a) hereto. 
 9.5 Satisfactory Written Assignment Required. Anything herein to the contrary notwithstanding, both the Partnership and the General
Partners shall be entitled to treat the transferor of a Partnership Interest as the absolute owner thereof in all respects, and shall incur no liability for distributions of cash or other property made in good faith to it, until such time as a
written assignment or other evidence of the consummation of a Transfer that conforms to the requirements of this Article 9 and is reasonably satisfactory to the General Partner has been received by and recorded on the books of the Partnership, at
which time the Transfer shall become effective for purposes of this Agreement. 
 9.6 Transferee’s Rights. Any
purported Transfer of a Partnership Interest which is not in compliance with this Agreement is hereby declared to be null and void and of no force and effect whatsoever. A permitted transferee of any Partnership Interest pursuant to
Section 9.1, 9.3 and 9.4 hereof shall be entitled to receive distributions of cash or other property from the Partnership and to receive allocations of the income, gains, credits, deductions, profits and losses of the Partnership attributable
to such Partnership Interest after the effective date of the Transfer but shall not become a Partner unless and until admitted pursuant to Section 9.7 hereof. 
 9.7 Transferees Admitted as Partners. The assignee or transferee of any Partnership Interest shall be admitted as a Partner only upon the satisfaction of the following conditions: 
 (a) A duly executed and acknowledged written instrument of Transfer approved by the General Partner and either a copy of this Agreement duly
executed by the transferee or an instrument of assumption in form and substance satisfactory to the General Partner setting forth the transferee’s agreement to be bound by the provisions of this Agreement have been delivered to the Partnership.

 (b) The transferee has paid any fees and reimbursed the Partnership for any expenses paid by the Partnership in connection
with the Transfer and admission. 
 The effective date of an admission of a Partner and the withdrawal of the transferring Partner, if any,
shall be the first day which is the last business day of a calendar month to occur following the satisfaction of the foregoing conditions. 
 9.8 Additional Restrictions on Transfer. 
 (a) Notwithstanding any contrary
provision in this Agreement, in no event may any Transfer of a Unit or other interest in the Partnership be made by any Limited Partner or assignee or transferee if: 
 (i) such Transfer is made to any Person who lacks the legal right, power or capacity to own such Unit or other interest in the Partnership; 

 (ii) such Transfer would require the registration of such transferred Unit or other interest
in the Partnership or of any Class of Unit or other interest in the Partnership pursuant to any applicable United States federal or state securities laws (including, without limitation, the Securities Act or the Exchange Act) or other foreign
securities laws or would constitute a non-exempt distribution pursuant to applicable state securities laws; 
 (iii) such
Transfer would cause any portion of the assets of the Partnership to constitute assets of any employee benefit plan pursuant to the regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29
of the Code of Federal Regulations, or any successor regulations; 
 (iv) such Transfer would cause any portion of the assets of
the Partnership to become “plan assets” of any benefit plan investor within the meaning of regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the Code of Federal
Regulations, or any successor regulations, or to be regulated under the Employee Retirement Income Security Act of 1974, as amended from time to time; or 
 (v) to the extent requested by the General Partner, the Partnership does not receive such legal and/or tax opinions and written instruments (including, without limitation, copies of any instruments of
Transfer and such assignee’s or transferee’s consent to be bound by this Agreement) that are in a form satisfactory to the General Partner, as determined in the General Partner’s sole discretion. 
 (b) Notwithstanding any other provision of this Agreement, no Partner shall Transfer any interest in the Partnership if such Transfer would
cause the Partnership to be classified as a “publicly traded partnership” as that term is defined in Section 7704 of the Code and the Regulations promulgated thereunder. 
 ARTICLE 10 
 DISSOLUTION 
 10.1 Events of Dissolution. The Partnership shall continue until the earliest to occur of the following events (each an
“Event of Withdrawal”), which shall cause an immediate dissolution of the Partnership: 
 (a) the sale,
exchange or other disposition of all or substantially all of the Partnership’s assets; 
 (b) the withdrawal, resignation,
filing of a certificate of dissolution or revocation of the charter or Bankruptcy of a General Partner or the occurrence of any other event which causes the General Partner to cease to be a general partner of the Partnership under the Act, unless a
majority-in-interest of the Limited Partners elect to continue the Partnership business and select a successor general partner in accordance with the provisions of the Act; or 
 (c) such date as the Partners shall unanimously elect. 

 10.2 Final Accounting. Upon the dissolution of the Partnership as provided in
Section 10.1 hereof, a proper accounting shall be made by the Partnership’s Auditor from the date of the last previous accounting to the date of dissolution. 
 10.3 Liquidation. Upon the dissolution of the Partnership as provided in Section 10.1 hereof, the General Partner or, if there is no general partner, a person approved by a majority in
interest of the remaining Partners, shall cause the cancellation of the Certificate (as amended) and shall act as liquidator to wind up the Partnership. The liquidator shall have full power and authority to sell, assign and encumber any or all of
the Partnership’s assets and to wind up and liquidate the affairs of the Partnership in an orderly and business-like manner. All proceeds from liquidation shall be distributed in the following orders of priority: 
 (a) to the payment and discharge of the debts and liabilities of the Partnership (other than liabilities for distributions to Partners) and
expenses of liquidation, 
 (b) to the setting up of such reserves as the liquidator may reasonably deem necessary for any
contingent liability of the Partnership (other than liabilities for distributions to Partners), and 
 (c) the balance to the
Partners as follows: 
  

	 	(i)	First, 100% to the General Partner and GPC Inc. in proportion to their Percentage Interests until such Partners receive distributions equal to the Catch Up Amount.

  

	 	(ii)	Thereafter, to the Partners in proportion to their Percentage Interests. 

 10.4 Cancellation of Certificate. Upon the completion of the distribution of Partnership assets as provided in Section 10.3 hereof, the Partnership shall be terminated and the person acting as
liquidator shall take such other actions as may be necessary or appropriate to terminate the Partnership. 
 ARTICLE 11

 AMENDMENTS TO AGREEMENT 
 11.1 Amendments and Waivers. Except as provided otherwise herein, this Agreement may not be amended nor may any rights hereunder be waived except by an instrument in writing signed by the General
Partner with such amendment or waiver; provided that any amendment that does not treat all limited partnership interests or Units on the same basis (in proportion to the percentage interests thereof) or all general partnership interests or Units on
the same basis shall be approved by the prejudiced Partner. Without limiting the foregoing, any change, amendment, supplement or waiver which would have the effect of altering, supplementing or amending Section 5.1, 6.4 or 6.5 shall be approved
by the Graham Partners. 

 ARTICLE 12 
 NOTICES 
 12.1 Method of Notice. Any notices or other communications
required or permitted hereunder shall be in writing and shall be deemed to have been duly given when delivered personally or transmitted by telex or telecopier, receipt acknowledged, or in the case of documented overnight delivery service or
registered or certified mail, return receipt requested, postage prepaid, on the date shown on the receipt therefor, addressed to the Partners at their respective addresses set forth below (except that any Partner may from time to time give notice
changing its address for that purpose): 
 If to the Partnership, the General Partner or GPC Inc., to: 
 Graham Packaging Company Inc. 
 2401 Pleasant Valley Road 
 York, Pennsylvania 17402 
 Attention: Chief Legal Officer 
 Facsimile: (717) 849-8541 
 With a required copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017-3954 
 Attention: Wilson S. Neely 
 Facsimile: (212) 455-2502 
 If to the Graham Partners or GP Corp, to: 
 Graham Capital Company 
 1420 Sixth Avenue 
 York, PA 17405 
 Attention: Paul L. Rudy, III 
 Facsimile: (717) 846-6931 
 With a required copy to: 
 Drinker Biddle & Reath LLP 
 105 College Road East 
 P.O. Box 627 
 Princeton, NJ 08542-0627 
 Attention: James Biehl 
 Facsimile: (609) 799-7000 
 12.2 Computation of Time. In computing any period of time under this Agreement, the day of the act, event or default from which the designated period of time begins to run shall

 
not be included. The last day of the period so computed shall be included, unless it is a Saturday, Sunday or legal holiday, in which event the period shall run until the end of the next day
which is not a Saturday, Sunday or legal holiday. 
 ARTICLE 13 
 INVESTMENT REPRESENTATIONS 
 13.1 Investment
Purpose. Each Limited Partner represents and warrants to the Partnership and to each other Partner that it has acquired its limited partner interest in the Partnership for its own account, for investment only and not with a view to the
distribution thereof, except to the extent provided in or contemplated by this Agreement. 
 13.2 Investment Restriction.
Each Partner recognizes that (a) the limited partner interests in the Partnership have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption from such
registration, and agrees that it will not sell, offer for sale, transfer, pledge or hypothecate its limited partner interest in the Partnership (i) in the absence of an effective registration statement covering such limited partner interest
under the Securities Act, unless such sale, offer of sale, transfer, pledge or hypothecation is exempt from registration for any proposed sale, and (ii) except in compliance with all applicable provisions of this Agreement, and (b) the
restrictions on transfer imposed by this Agreement may severely affect the liquidity of an investment in limited partner interests in the Partnership. 
 ARTICLE 14 
 GENERAL PROVISIONS 
 14.1 Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter
hereof, and supersedes any prior agreement or understanding among the parties hereto with respect to the subject matter hereof. 
 14.2 Governing Law. This Agreement shall be construed in accordance with and governed by the Act and the other laws of the Commonwealth of Pennsylvania, without giving effect to the provisions, policies or principles thereof relating
to choice or conflict of laws. 
 14.3 Submission to Jurisdiction; Waiver of Jury Trial. (a) Any and all disputes
which cannot be settled amicably, including any ancillary claims of any party to this Agreement, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement
(including the validity, scope and enforceability of this arbitration provision) shall be finally settled by arbitration conducted by a single arbitrator in Pennsylvania in accordance with the then existing Rules of Arbitration of the International
Chamber of Commerce. If the parties to the dispute fail to agree on the selection of an arbitrator within thirty (30) days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The
arbitrator shall be a lawyer and shall conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 

 (b) Notwithstanding the provisions of clause (a), the General Partner may bring, or may
cause the Partnership to bring, on behalf of the General Partner or the Partnership or on behalf of one or more Partners, an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate,
seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this clause (b), each Partner (i) expressly consents to the application of clause (c) of this
Section 14.3 to any such action or proceeding, (ii) agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate,
and (iii) irrevocably appoints the General Partner as such Partner’s agent for service of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Partner
of any such service of process, shall be deemed in every respect effective service of process upon the Partner in any such action or proceeding. 
 (c) EACH PARTNER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN HARRISBURG, PENNSYLVANIA FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF
PARAGRAPH (B) OF THIS SECTION 14.3, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or
proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this clause (c) have a reasonable relation to
this Agreement, and to the parties’ relationship with one another. The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of
venue of any such ancillary suit, action or proceeding brought in any court referred to in this clause (c) and such parties agree not to plead or claim the same. 
 14.4 Binding Effect. Except as provided otherwise herein, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective legal representatives,
heirs, successors and assigns. 
 14.5 Separability. Any provision of this Agreement which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provision in any other
jurisdiction. 
 14.6 Headings. The section and other headings contained in this Agreement are for reference purposes
only and shall not affect the meaning or interpretation of this Agreement. 
 14.7 No Third-Party Rights. Nothing in this
Agreement shall be deemed to create any right in any person not a party hereto (other than the permitted successors and assigns of a party hereto) and this Agreement shall not be construed in any respect to be a contract in whole or in part for the
benefit of any third party (except as aforesaid). 

 14.8 Waiver of Partition. Each Partner, by requesting and being granted admission to
the Partnership, is deemed to waive until termination of the Partnership any and all rights that it may have to maintain an action for partition of the Partnership’s assets. 
 14.9 Nature of Interests. All Partnership property whether real or personal, tangible or intangible, shall be deemed to be owned by
the Partnership as an entity, and none of the Partners shall have any direct ownership of such property. 
 14.10 Power of
Attorney. Each of the Partners does hereby constitute and appoint the General Partner as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign and file any amendment to the Certificate which
may be required because of this Agreement or the making of any amendments or supplements thereto as provided in Article 11, and to make, execute, sign and file all such other instruments, documents and certificates which, in the opinion of the
General Partner, may from time to time be required by the laws of the United States of America, the Commonwealth of Pennsylvania or any other jurisdiction in which the Partnership shall determine to do business, or any political subdivision or
agency thereof or which the General Partner may deem necessary or appropriate to effectuate, implement and continue the valid and subsisting existence and business of the Partnership. 
 14.11 Costs and Expenses of GPC Inc. Notwithstanding anything to the contrary contained herein, to the extent that the Partnership
remains the sole material asset of GPC Inc., the Partnership shall promptly reimburse GPC Inc. in respect of any expenses incurred by GPC Inc. in connection with its ownership in the Partnership or the business of GPC Inc. or the Partnership.

 [Signature page follows] 

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

					
	GENERAL PARTNER:
	
	BCP/GRAHAM HOLDINGS L.L.C.
		
	By:	 	 /s/ Thomas C. Hallowell

		 	Name:	 	Thomas C. Hallowell
		 	Title:	 	Assistant Secretary
	
	LIMITED PARTNERS:
	
	GRAHAM PACKAGING COMPANY INC.
		
	By:	 	 /s/ Chinh E. Chu

		 	Name:	 	Chinh E. Chu
		 	Title:	 	President and Assistant Secretary
	
	GRAHAM PACKAGING CORPORATION
		
	By:	 	 /s/ William H. Kerlin, Jr.

		 	Name:	 	William H. Kerlin, Jr.
		 	Title:	 	Chairman
	
	GPC HOLDINGS, L.P.
		
	By:	 	GPC Investments, LLC,
		 	its general partner
		
	By:	 	 /s/ Paul L. Rudy, III

		 	Name:	 	Paul L. Rudy, III
		 	Title:	 	Vice President

 SCHEDULE 1 
  

						
	 Partner
	  	Percentage
Interest	 	 	Partnership Units
	 General Partner
	  			 	
	 BCP/Graham Holdings L.L.C.
	  	4.0	% 	 	2,023,472
			
	 Limited Partners
	  			 	
	 Graham Packaging Company Inc.
	  	80.9	% 	 	40,975,314
	 GPC Holdings, L.P.
	  	13.7	% 	 	6,925,263
	 Graham Packaging Corporation
	  	1.3	% 	 	662,758
	 Roger M. Prevot
	  	0.1	% 	 	35,167
		  			 	 
	 Total as of entry into this Sixth Amended and Restated Agreement of Limited Partnership
	  	100.0	% 	 	50,621,974.000
			
	 Total number of nominal units outstanding immediately prior to entry into this Sixth Amended and Restated Agreement of Limited
Partnership
	  			 	13,386.947

 SCHEDULE 2 
  

						
	 Partner
	  	Percentage
Interest	 	 	Partnership
Units
			
	 General Partner
	  			 	
	 BCP/Graham Holdings L.L.C.
	  	4.0	% 	 	2,023,472
			
	 Limited Partners
	  			 	
	 Graham Packaging Company Inc.
	  	80.9	% 	 	40,975,314
	 GPC Holdings, L.P.
	  	13.7	% 	 	6,925,263
	 Graham Packaging Corporation
	  	1.3	% 	 	662,758
	 Roger M. Prevot
	  	0.1	% 	 	35,167
		  			 	 
	 Total
	  	100.0	% 	 	50,621,974

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]