Document:

exv10w45

Exhibit 10.45

Fees to be Paid to the Non-Employee Directors

of Sealed Air Corporation (the “Corporation”)

2011

     Members of the Board of Directors who are not officers or employees of the Corporation or any
subsidiary of the Corporation (“non-employee directors”) shall be paid the following directors’
fees in cash, payable quarterly in arrears on or about the first day of the succeeding calendar
quarter, which fees shall be in addition to retainers payable to non-employee directors under the
Sealed Air Corporation 2002 Stock Plan for Non-Employee Directors:

	 	(i)	 	for each non-employee director who is designated as chair of the Audit
Committee, a fee of Six Thousand Two Hundred Fifty Dollars ($6,250) per calendar
quarter for serving as chair, and for each other member of the Audit Committee, a fee
of Two Thousand Five Hundred Dollars ($2,500) per calendar quarter for serving as a
member;
	 
	 	(ii)	 	for each non-employee director who is designated as chair of the Nominating
and Corporate Governance Committee, a fee of Three Thousand Seven Hundred Fifty
Dollars ($3,750) per calendar quarter for serving as chair, and for each other member
of the Nominating and Corporate Governance Committee, a fee of One Thousand Eight
Hundred Seventy Five Dollars ($1,875) per calendar quarter for serving as a member;
	 
	 	(iii)	 	for each non-employee director who is designated as chair of the
Organization and Compensation Committee, a fee of Five Thousand Dollars ($5,000) per
calendar quarter for serving as chair, and for each other member of the Organization
and Compensation Committee, a fee of Two Thousand Five Hundred Dollars ($2,500) per
calendar quarter for serving as a member;
	 
	 	(iv)	 	a fee of Two Thousand Dollars ($2,000) per day for special assignments
undertaken by a non-employee director at the request of the Board or any committee of
the Board or for attending a director education program; and
	 
	 	(v)	 	meeting fees as approved by the Board of Directors for non-employee directors
who serve on any special committee or for attendance at special meetings of the Board
of Directors or a committee of the Board of Directors in the event of a major
transaction, etc.

     The amount of the Annual Retainer (as defined in the Sealed Air Corporation 2002 Stock Plan
for Non-Employee Directors) to be paid to Non-Employee Directors of the Corporation who are elected
at the 2011 Annual Meeting of Stockholders is $70,000 payable in shares of Common Stock plus
$60,000 payable in cash unless the Non-Employee Director elects payment of the cash portion in
shares of Common Stock.

     Under the Sealed Air Corporation Deferred Compensation Plan for Directors, a non-employee
director may elect to defer all or part of his or her Annual Retainer (or Interim Retainer, if the
director joins the Board at a date other than the date of an Annual Meeting) until the director
retires from the Board. None of the other fees mentioned above is eligible to be deferred.exv10w48

Exhibit 10.48

EXTENSION OF EMPLOYMENT AGREEMENT

     This Extension of Employment Agreement by and between Sealed Air Corporation (US) (“SAC”) and
Robert A. Pesci (“Pesci”).

     WHEREAS, on February 18, 2010, SAC and Pesci entered into an Employment Agreement to continue
his employment through December 31, 2010 (“the Agreement”), with a provision to extend the
Agreement by mutual agreement for an additional period of not more than six months at a reduced
compensation level;

     NOW THEREFORE, the parties agree:

	1.	 	The Agreement is extended from January 1, 2011 through June 30, 2011.

	2.	 	Pesci’s monthly salary from January 1, 2011 through February 28, 2011 remains at the same
monthly salary he received in 2010.

	3.	 	Pesci shall receive a salary of $7,500 per month from March 1 through June 30, 2011.

	4.	 	Pesci shall not be entitled to any bonus for the period of January 1, 2011 through June 30,
2011.

5. Other than as set forth above, the Agreement continues in full force and effect.

IN WITNESS WHEREOF, the parties agree to the foregoing as of the date set forth below:

	 	 	 	 	 	 	 

	/s/ Robert A. Pesci
 

Robert A. Pesci

	 	 	 	February 24, 2011

 

Date
	 	 

For Sealed Air Corporation (US)

	 	 	 	 	 	 	 

	/s/ William V. Hickey
 

William V. Hickey

	 	 	 	February 24, 2011

 

Date
	 	 
	Presidentexv4wee

Exhibit
4(ee)

BANK OF AMERICA CORPORATION

 

SIXTH SUPPLEMENTAL INDENTURE

Dated as
of February 23, 2011

Supplementing the Indenture, dated as of January 1, 1995, between

Bank of America Corporation (successor to NationsBank Corporation) and

The Bank of New York Mellon Trust Company, N.A. (successor trustee to The Bank of New York), as

Trustee, as supplemented by a

First Supplemental Indenture dated as of September 18, 1998,

Second Supplemental Indenture dated as of May 7, 2001,

Third Supplemental Indenture dated as of July 28, 2004,

Fourth Supplemental Indenture dated as of April 28, 2006

and

Fifth Supplemental Indenture dated as of December 1, 2008

 

 

     THIS
SIXTH SUPPLEMENTAL INDENTURE, dated as of February 23, 2011 (the “Sixth Supplemental
Indenture”), is made by and between BANK OF AMERICA CORPORATION, a Delaware Corporation (the
“Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association
(the “Trustee”), under the Indenture referred to herein.

WITNESSETH:

     WHEREAS, the Company and the Trustee previously executed and delivered an Indenture, dated as
of January 1, 1995 and supplemented that Indenture by a First Supplemental Indenture dated as of
September 18, 1998, a Second Supplemental Indenture dated as of May 7, 2001, a Third Supplemental
Indenture dated as of July 28, 2004, a Fourth Supplemental Indenture dated as of April 28, 2006 and
a Fifth Supplemental Indenture dated as of December 1, 2008 (collectively, the “Indenture”);

     WHEREAS, pursuant to the Indenture, the Company has issued and the Trustee has authenticated
and delivered one or more series of the Company’s senior debt securities (the “Securities”) and
anticipates additional issues in the future;

     WHEREAS, the Company has determined that it is advisable and in the interests of the Company
and the holders of its senior unsecured debt to be issued under the Indenture that the Indenture be
amended and supplemented to permit and authorize additional officers of the Company to execute and
deliver notes evidencing the debt issued under the Indenture;

     WHEREAS, Section 10.01(e) of the Indenture provides that when authorized by a Board Resolution
(as defined in Section 1.01 of the Indenture), the Company and the Trustee may amend the Indenture
without consent of the holders of the Securities in order to modify or add to any of the provisions
of the Indenture for any Securities that are not Outstanding at the time of such change;

     WHEREAS, Section 10.01(f) of the Indenture provides that when authorized by a Board
Resolution, the Company and the Trustee may amend the Indenture without consent of the holders of
the Securities in order to cure any ambiguity or to correct or supplement any provision contained
in the Indenture which may be defective or inconsistent with any other provisions contained in the
Indenture or to make such other provisions in regard to matters or questions arising under the
Indenture, provided such other provisions shall not adversely affect in any material respect the
interests of holders of the Securities, including provisions necessary or desirable to provide for
or facilitate the administration of the trusts under the Indenture;

     WHEREAS, pursuant to Section 7.07, Section 10.03 and Section 15.05 of the Indenture, the
Trustee is fully protected in relying on an Officers’ Certificate and an Opinion of Counsel as
conclusive evidence that this Sixth Supplemental Indenture complies with the provisions of Article
Ten of the Indenture and that all conditions precedent provided for in the Indenture relating to
the execution and delivery of this Sixth

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Supplemental Indenture have been complied with, and based upon that reliance, the Trustee has
agreed to enter into this Sixth Supplemental Indenture; and

     WHEREAS, this Sixth Supplemental Indenture has been duly authorized by a Board Resolution and
all other all necessary corporate action on the part of the Company.

     NOW, THEREFORE, the Company and the Trustee agree as follows for the equal and ratable benefit
of the holders of the Securities:

ARTICLE I

AMENDMENTS AND ADDITIONAL TERMS

     SECTION 1.1 Definitions.

     (a) Definitions in Section 1.01 of the Indenture for the terms set forth below shall
be amended as described herein.

	 	(i)	 	The present definition of “Business Day” is hereby amended by
inserting the words “to be closed” at the end thereof.
	 
	 	(ii)	 	The present definition of “Company Request, Company Order and
Company Consent”, as the same was amended and restated pursuant to the First
Supplemental Indenture, is hereby deleted in its entirety and replaced with
the following:

     “The terms “Company Request”, “Company Order” and “Company Consent” mean,
respectively, a written request, order or consent signed in the name of the Company
by any two Authorized Officers and delivered to the Trustee.”

	 	(iii)	 	The present definition of “Officers’ Certificate”, as the
same was amended and restated pursuant to the First Supplemental Indenture, is
hereby deleted in its entirety and replaced with the following:

     “The term “Officer’s Certificate” means a certificate signed by any Authorized
Officer and delivered to the Trustee.”

     Any reference in the Indenture to “Officers’ Certificate” shall be replaced by
“Officer’s Certificate”.

	 	(iv)	 	The present definition of “Person” is hereby amended by
adding the words “limited liability company,” after “corporation” and before
“partnership”.

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     (b) The following definition of “Authorized Officer” shall be added to Section 1.01 of
the Indenture after the definition of “Authorized Newspaper” and before the definition of “Bearer
Security”:

     “Authorized Officer:

     The term “Authorized Officer” means any of the following officers of the
Company: the Chief Executive Officer, the Chairman of the Board of Directors, the
President, the Chief Financial Officer, the Treasurer, the Secretary and any other
officer or officers of the Company designated in writing by or pursuant to the
authority of the Company’s Board of Directors as an Authorized Officer.”

     SECTION 1.2 Execution of Securities. Section 2.06 of the Indenture hereby is
amended by deleting the first sentence of present Section 2.06 and inserting the following
in lieu thereof:

     “The Securities shall be signed on behalf of the Company by one of its Authorized
Officers under its corporate seal and attested by the Company’s Secretary or one of its
Assistant Secretaries.”

     SECTION 1.3 Notice of Redemption. Section 3.02 of the Indenture, as amended
pursuant to the Fourth Supplemental Indenture, hereby is further amended by deleting clause (b) of
the third sentence of Section 3.02 and inserting the following in lieu thereof:

     “(b) as determined by an Authorized Officer and evidenced by the preparation of an
offering document or an Officer’s Certificate specifying the period of notice of such
redemption.”

     SECTION 1.4 Compliance Certificate. Section 4.04 of the Indenture hereby is
amended by deleting the portion of the first paragraph of Section 4.04 up to the colon
before clause (a) and inserting the following in lieu thereof:

     “The Company will deliver to the Trustee, within 120 days after the end of each fiscal
year of the Company, commencing with the fiscal year ending in the year during which the
first series of Securities is issued hereunder (but in no event more than one year from the
issuance of the first series hereunder), a written statement signed by the Treasurer of the
Company or any Senior Vice President, Managing Director, Director or other appropriate
officer, each of the Company’s Corporate Treasury division, and by the principal executive
officer, principal financial officer or principal accounting officer of the Company,
stating, as to each signer thereof, that”

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ARTICLE II

MISCELLANEOUS

     SECTION 2.1 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all
provisions in the Indenture shall remain in full force and effect.

     SECTION 2.2 Indenture and Supplemental Indentures Construed Together. This Sixth
Supplemental Indenture is an indenture supplemental to and in implementation of the Indenture, and
the Indenture and this Sixth Supplemental Indenture shall henceforth be read and construed
together.

     SECTION 2.3 Confirmation and Preservation of Indenture. The Indenture as supplemented by
this Sixth Supplemental Indenture is in all respects confirmed and preserved.

     SECTION 2.4 Conflict with Trust Indenture Act. If any provision of this Sixth Supplemental
Indenture limits, qualifies or conflicts with any provision of the Trust Indenture Act (“TIA”) that
is required under the TIA to be part of and govern any provision of this Sixth Supplemental
Indenture, the provision of the TIA shall control. If any provision of this Sixth Supplemental
Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the
provision of the TIA shall be deemed to apply to the Indenture as so modified or to be excluded by
this Sixth Supplemental Indenture, as the case may be.

     SECTION 2.5 Severability. In case any provision in this Sixth Supplemental Indenture shall
be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

     SECTION 2.6 Terms Defined in the Indenture. All capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Indenture.

     SECTION 2.7 Headings. The Article and Section headings of this Sixth Supplemental Indenture
have been inserted for convenience of reference only, are not to be considered part of this Sixth
Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions
hereof.

     SECTION 2.8 Benefits of Sixth Supplemental Indenture, etc. Nothing in this Sixth
Supplemental Indenture or the Securities, express or implied, shall give to any Person, other than
the parties hereto and thereto and their successors hereunder and thereunder and the holders of the
Securities, any benefit of any legal or equitable right, remedy or claim under the Indenture, this
Sixth Supplemental Indenture or the Securities.

     SECTION 2.9 Certain Duties and Responsibilities of the Trustee.

     (a) In entering into this Sixth Supplemental Indenture, the Trustee shall be entitled to the
benefit of every provision of the Indenture relating to the conduct or

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affecting the liability or affording protection to the Trustee, whether or not elsewhere
herein so provided.

     (b) The recitals contained herein shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for the correctness of the same. The Trustee makes no
representations as to the validity or sufficiency of this Sixth Supplemental Indenture.

     SECTION 2.10 Counterparts. The parties may sign any number of copies of this Sixth
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement.

     SECTION 2.11 Governing Law. This Sixth Supplemental Indenture shall be governed by, and
construed in accordance with, the laws of the State of New York but without giving effect to
applicable principles of conflicts of law to the extent that the application of the laws of another
jurisdiction would be required thereby.

     SECTION 2.12 Effective Date. This Sixth Supplemental Indenture shall be effective on the
date first set forth above.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties have caused this Sixth Supplemental Indenture to be duly
executed effective as of the date set forth above.

	 	 	 	 	 
	 	BANK OF AMERICA CORPORATION

 	 
	 	By:  	/S/
ANGELA C. JONES	 
	 	 	Name:  	Angela C. Jones	 
	 	 	Title:  	Senior Vice President	 
	 
	 	THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

as Trustee

 	 
	 	By:  	/S/
TINA D. GONZALEZ	 
	 	 	Name:  	Tina D. Gonzalez	 
	 	 	Title:  	Vice President	 
	 

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