Document:

Exhibit 10.17

 

EMPLOYMENT AGREEMENT

 

This Employment
Agreement (the “Agreement”) is entered into effective as of December 1, 2021 (the “Effective
Date”), by and between Laurie Harrison (“Executive”) and Voltus, Inc. (the “Company”).

 

The Company desires to employ
Executive and, in connection therewith, to compensate Executive for Executive’s personal services to the Company; and

 

Executive wishes to be employed
by the Company and provide personal services to the Company in return for certain compensation.

 

Accordingly, in consideration
of the mutual promises and covenants contained herein, the parties agree to the following:

 

1.
Employment by the Company.

 

1.1
At-Will Employment. Executive shall be employed by the Company on an “at-will” basis, meaning either
the Company or Executive may terminate Executive’s employment at any time, with or without Cause (as defined in Section 6.2(e) below),
Good Reason (as defined in Section 6.2(g) below), or advance notice. Any contrary representations that may have been made to Executive
shall be superseded by this Agreement. This Agreement shall constitute the full and complete agreement between Executive and the Company
on the “at-will” nature of Executive’s employment with the Company, which may be changed only in an express written
agreement signed by Executive and a duly authorized officer of the Company. Executive’s rights to any compensation following a termination
shall be only as set forth in Section 6 or as required under any applicable benefit or equity plan or applicable law.

 

1.2
Position. Subject to the terms set forth herein, the Company agrees to employ Executive and Executive hereby accepts
such employment. In addition, Executive shall serve as Chief Legal Officer. During the term of Executive’s employment with the Company,
and excluding periods of vacation and sick leave to which Executive is entitled, Executive shall devote all business time and attention
to the affairs of the Company necessary to discharge the responsibilities assigned hereunder, and shall perform faithfully and efficiently
such responsibilities.

 

1.3
Duties. Executive will report to the Chief Executive Officer and will render such business and professional services
in the performance of Executive’s duties, consistent with Executive’s position as Chief Legal Officer, as shall reasonably
be assigned to her by the Chief Executive Officer. In addition, Executive shall make such business trips to such places as may be reasonably
necessary or advisable for the efficient operations of the Company.

 

1.4
Company Policies and Benefits. The employment relationship between the parties shall be subject to the Company’s
written personnel policies and procedures as they may be adopted, revised, or deleted from time to time in the Company’s sole discretion.
Executive shall be expected to comply with all applicable laws, regulations, rules, directives and other legal requirements of federal,
state and other governmental and regulatory bodies having jurisdiction over the Company and of the professional bodies of which the Company
is a member. During Executive’s employment with the Company, Executive shall be required to maintain in good standing any licenses
and certifications necessary for the performance of Executive’s duties for the Company.  Executive will be eligible to participate
on the same basis as similarly situated employees in the Company’s benefit plans in effect from time to time during Executive’s
employment, subject to the terms of such plans. The Company reserves the right to change, alter, or terminate any benefit plan in its
sole discretion. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the
provisions of such plan.

 

     

     

    

 

		2.	Compensation.

 

2.1
Salary. Executive shall receive an annualized base salary of $275,000.00, subject to review and adjustment from time
to time by the Company in its sole discretion, payable subject to applicable payroll withholding requirements in accordance with the Company’s
standard payroll practices (the “Base Salary”).

 

2.2
Bonus.

 

(a)
During Employment. Executive shall be eligible to earn an annual performance bonus (the “Annual Bonus”)
with an annual target of 50% (the “Target Percentage”) of Executive’s then-current Base Salary (the “Target
Bonus”), payable quarterly in arrears or as otherwise determined by the Company. The Annual Bonus will be based upon the
assessment by the Company’s Board of Directors (the “Board”) of Executive’s performance and the
Company’s attainment of targeted goals (as set by the Board in its discretion) over the applicable period.  The Annual Bonus,
if any, will be subject to applicable payroll deductions and withholdings.  No amount of any Annual Bonus is guaranteed at any time,
and, except as otherwise stated in Section 6, Executive must be an employee in good standing through the date the Annual Bonus or any
portion of thereof is paid to be eligible to receive an Annual Bonus or such portion.  Subject to Section 6, any Annual Bonus or
related portion thereof, if earned, will be paid at the same time annual bonuses are generally paid to other similarly situated employees
of the Company.  Executive’s eligibility for an Annual Bonus is subject to change in the discretion of the Board (or any authorized
committee thereof).

 

(b)
Upon Termination. Subject to the provisions of Section 6, in the event Executive leaves the employ of the Company for
any reason prior to the date the Annual Bonus is paid, Executive is not eligible to earn such Annual Bonus, prorated or otherwise.

 

2.3
Future Equity Awards. Executive will be eligible to be considered for future equity awards as may be determined by
the Board or a committee of the Board in its discretion in accordance with the terms of any applicable equity plan or arrangement that
may be in effect from time to time.

 

2.4
Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the
Company’s standard expense reimbursement policy.

 

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3.
Confidential Information and Inventions Assignment Obligations.
In connection with Executive’s employment with the Company, Executive will receive and have access to the Company’s confidential
information and trade secrets. Accordingly, and in consideration of the benefits that Executive is eligible to receive under this Agreement,
Executive agrees to sign the Employee Proprietary Information and Inventions Assignment Agreement (the “Confidential Information
Agreement”), attached as Exhibit A, which contains restrictive covenants and prohibits unauthorized use or
disclosure of the Company’s confidential information and trade secrets, among other obligations. The Confidential Information Agreement
contains provisions that are intended by the parties to survive and do survive termination or expiration of this Agreement.

 

4.
Outside Activities. Except with the prior written consent
of the Board, Executive will not, while employed by the Company, undertake or engage in any other employment, occupation, or business
enterprise that would interfere with Executive’s responsibilities and the performance of Executive’s duties hereunder except
for (i) reasonable time devoted to volunteer services for or on behalf of such religious, educational, non-profit, and/or other charitable
organization as Executive may wish to serve, (ii) reasonable time devoted to activities in the non-profit and business communities consistent
with Executive’s position with the Company, (iii) reasonable time serving as trustee, director, or advisor to any family companies
or trusts, or (iv) with prior written consent by the Board, reasonable time devoted to service as a member of the board of directors (or
its equivalent in the case of a non-corporate entity) of a non-competing business; so long as the activities set forth in clauses (i),
(ii), (iii), and (iv) do not interfere, individually or in the aggregate, with the performance of Executive’s duties for the Company,
are not competitive with the business of the Company, will not otherwise result in Executive’s breach of the Confidential Information
Agreement, or create a business or fiduciary conflict. This restriction shall not, however, preclude Executive from (x) owning less
than one percent (1%) of the total outstanding shares of a publicly traded company, (y) managing Executive’s passive personal investments,
or (z) employment or service in any capacity with Affiliates of the Company. As used in this Agreement, “Affiliates”
means, at the time of determination, any “parent” or “subsidiary” of the Company as such terms are defined in
Rule 405 of the Securities Act of 1933, as amended. The Board will have the authority to determine the time or times at which “parent”
or “subsidiary” status is determined within the foregoing definition.

 

5.
No Conflict with Existing Obligations. Executive represents
that Executive’s performance of all the terms of this Agreement and service as an employee of the Company do not and will not breach
any agreement or obligation of any kind made prior to Executive’s employment by the Company, including agreements or obligations
Executive may have with prior employers or entities for which Executive has provided services. Executive has not entered into, and Executive
agrees that Executive will not enter into, any agreement or obligation, either written or oral, in conflict herewith or with Executive’s
duties to the Company.

 

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6.
Termination Of Employment. The parties acknowledge that
Executive’s employment relationship with the Company will be at-will. Either Executive or the Company may terminate the employment
relationship at any time, with or without Cause (as defined below) or advance notice. The provisions in this Section govern the amount
of compensation, if any, to be provided to Executive upon termination of employment and do not alter this at-will status.

 

6.1
Termination by Virtue of Death or Disability of Executive.

 

(a)
In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder
and Executive’s employment shall terminate immediately, and the Company shall, pursuant to the Company’s standard payroll
policies and applicable law, pay to Executive’s legal representatives the Accrued Obligations (as defined in Section 6.2(d) below)
due to Executive.

 

(b)
Subject to applicable state and federal law, the Company shall at all times have the right, upon written notice to Executive,
to terminate this Agreement based on Executive’s Disability (as defined below). Termination by the Company of Executive’s
employment based on “Disability” shall mean termination because Executive is unable due to a physical or mental
condition to perform the essential functions of Executive’s position with or without reasonable accommodation for six (6) months
in the aggregate during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation
of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities Act,
the Family and Medical Leave Act, and other applicable law. In the event Executive’s employment is terminated based on Executive’s
Disability, Executive will be entitled to the Accrued Obligations due to Executive.

 

6.2
Termination by the Company or Resignation by Executive (other than in connection with a Change in Control).

 

(a)
The Company shall have the right to terminate Executive’s employment pursuant to this Section 6.2 at any time (subject
to any applicable cure period stated in Section 6.2(e)) with or without Cause or advance notice, by giving notice as described in Section
7.1 of this Agreement. Likewise, Executive can resign from employment with or without Good Reason, by giving notice as described in Section
7.1 of this Agreement. If Executive is terminated by the Company (with or without Cause) or resigns from employment with the Company (with
or without Good Reason), then Executive shall be entitled to the Accrued Obligations. In addition, if Executive is terminated without
Cause or resigns for Good Reason, and provided that Executive executes and allows to become effective a separation agreement that includes,
among other terms, a general release of claims in favor of the Company and its Affiliates and representatives, in the form presented by
the Company (the “Separation Agreement”), and subject to Section 6.2(b), then Executive shall be eligible to
receive the following severance benefits (collectively the “Non-CIC Severance Benefits”):

 

(i)
An amount equal to six (6) months of Executive’s then current Base Salary, less applicable payroll deductions and withholdings,
paid in installments on the Company’s regular payroll dates;

 

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(ii)
Provided Executive or Executive’s covered dependents, as the case may be, timely elect continued coverage under COBRA
under the Company’s group health plans following such termination, the COBRA premiums to continue Executive’s (and Executive’s
covered dependents, as applicable) health insurance coverage in effect on the termination date until the earliest of: (1) six (6) months
following the termination date; (2) the date when Executive becomes eligible for health insurance coverage in connection with new employment
or self-employment (and Executive agrees to promptly notify in the Company in writing of such eligibility); or (3) the date Executive
ceases to be eligible for COBRA continuation coverage for any reason, including plan termination (such period from the termination date
through the earlier of (1)-(3), (the “COBRA Payment Period”)). Notwithstanding the foregoing, if at any time
the Company determines that its payment of COBRA premiums on Executive’s behalf would result in a violation of applicable law (including,
but not limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation
Act) or imposition of an excise tax on the Company, then in lieu of paying COBRA premiums pursuant to this Section, the Company shall
pay Executive on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premium
for such month, subject to applicable payroll deductions and withholding, for the remainder of the COBRA Payment Period. Nothing in this
Agreement shall deprive Executive of Executive’s rights under COBRA or ERISA for benefits under plans and policies arising under
Executive’s employment by the Company;

 

(iii)
To the extent unpaid as of the date of Executive’s employment termination, an amount equal to any Annual Bonus earned
by Executive for the Company’s fiscal year prior to the fiscal year in which such date of termination occurs, as determined by the
Board in its discretion based upon actual performance achieved, which amount, if any, shall be paid to Executive in the fiscal year in
which the such date of termination occurs and at substantially the same time as bonuses for such prior fiscal year are paid in the ordinary
course to actively employed senior executives of the Company; and

 

(iv)
A prorated portion of any Annual Bonus Executive would have earned for the Company’s fiscal year in which Executive’s
employment termination occurs if Executive had remained employed through the payment date of such Annual Bonus (with such proration based
on the portion of such year elapsed through the date of such termination), as determined by the Board in its discretion based upon actual
performance achieved, which amount, if any, shall be paid to Executive no later than the fiscal year following the year in which the date
of such termination occurs and at substantially the same time as bonuses for such fiscal year are paid in the ordinary course to actively
employed senior executives of the Company.

 

(b)
Executive shall not receive the Non-CIC Severance Benefits pursuant to Section 6.2(a) or the CIC Severance Benefits pursuant
to Section 6.3(a) unless Executive executes the Separation Agreement within the consideration period specified therein, which shall in
no event be more than forty-five (45) days, and only if the Separation Agreement becomes effective and can no longer be revoked by Executive
under its terms. Executive’s ability to receive benefits pursuant to Section 6.2(a) or Section 6.3(a) is further conditioned upon
Executive: (i) returning all Company property; (ii) complying with Executive’s post-termination obligations under this Agreement
and the Confidential Information Agreement; (iii) complying with the Separation Agreement, including without limitation any non-disparagement
and confidentiality provisions contained therein; and (iv) resignation from any other positions Executive holds with the Company, effective
no later than Executive’s date of termination (or such other date as requested by the Board).

 

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(c)
The Company will not make any payments to Executive with respect to any of the benefits pursuant to Section 6.2(a) prior
to the 60th day following Executive’s date of termination. On the first payroll date after the 60th day following Executive’s
date of termination, and provided that Executive has delivered an effective Separation Agreement, the Company will make the first payment
to Executive under Section 6.2(a) and, in a lump sum, an amount equal to the aggregate amount of payments that the Company would
have paid Executive through such date had the payments commenced on Executive’s date of termination through such 60th day, with
the balance of the payments paid thereafter on the schedule described above, subject to any delay in payment required by Section 6.6.

 

(d) 
For purposes of this Agreement, “Accrued Obligations” are (i) Executive’s accrued but unpaid
salary through the date of termination and, if required by applicable law and the Company’s applicable policy as of the time
of termination, any accrued but unused vacation through the date of termination (both of which, for purpose of clarity, shall be
paid in cash), (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard
expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare
benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

 

(e)
For purposes of this Agreement, “Cause” for termination shall mean that the Company has determined
in its sole discretion that the Executive has engaged in any of the following: (i) a material breach of any covenant or condition under
this Agreement or any other agreement between the parties; (ii) any act constituting dishonesty, fraud, immoral or disreputable conduct
which is reasonably likely to cause harm (including reputational harm) to the Company; (iii) any conduct which constitutes a felony
under applicable law; (iv) material violation of any Company policy, after the expiration of ten (10) days without cure after written
notice of such violation to the extent such violation is curable; (v) refusal to follow or implement a clear, lawful and reasonable directive
of Company after the expiration of ten (10) days without cure after written notice of such failure to the extent such failure is curable;
(vi) gross negligence or incompetence in the performance of Executive’s duties; or (vii) breach of fiduciary duty.

 

(f)
For purposes of this Agreement, “Change in Control” means (i) a merger or consolidation of the Company
with or into any other corporation or other entity or person, (ii) a sale, lease, exchange or other transfer in one transaction or a series
of related transactions of all or substantially all of the Company’s assets, or (iii) any other transaction, including the sale
by the Company of new shares of its capital stock or a transfer of existing shares of capital stock of the Company, in any case, the result
of which is that a third party that is not an affiliate of the Company or its stockholders (or a “group” (as such term is
used in Section 13(d) of the Securities Exchange Act of 1934, as amended) of third parties not affiliated with the Company or its stockholders)
immediately prior to such transaction acquires or holds capital stock of the Company representing a majority of the Company’s outstanding
voting power immediately following such transaction; provided that the following events shall not constitute a “Change in Control”:
(A) a transaction (other than a sale of all or substantially all of the Company’s assets) in which the holders of the voting securities
of the Company immediately prior to the merger or consolidation hold, directly or indirectly, at least a majority of the voting securities
in the successor corporation or its parent immediately after the merger or consolidation; (B) a sale, lease, exchange or other transaction
in one transaction or a series of related transactions of all or substantially all of the Company’s assets to an affiliate of the
Company; (C) an initial public offering or direct listing of any of the Company’s securities or the consummation of a business combination
of the Company with a special purpose acquisition company after which the equity securities of the Company or its parent or successor
are publicly traded; (D) a reincorporation of the Company solely to change its jurisdiction; or (E) a transaction undertaken for the primary
purpose of creating a holding company that will be owned in substantially the same proportion by the persons who held the Company’s
securities immediately before such transaction. Notwithstanding the foregoing, if a Change in Control would give rise to a payment or
settlement event with respect to any amount that constitutes “nonqualified deferred compensation,” the transaction or event
constituting the Change in Control must also constitute a “change in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)),
to the extent required by Section 409A (as defined in Section 6.6 below).

 

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(g)  
For purposes of this Agreement, “Good Reason” means any of the following actions taken by the Company
without Executive’s express prior written consent: (i) a material reduction by the Company of Executive’s Base Salary (other
than in a broad based reduction similarly affecting all other members of the Company’s executive management); (ii) a material
breach by the Company of this Agreement or any other material written agreement between Executive and the Company concerning the terms
and conditions of Executive’s employment; or (iii) a material reduction in Executive’s duties, authority, or responsibilities
for the Company relative to Executive’s duties, authority, or responsibilities in effect immediately prior to such reduction (other
than in connection with a corporate transaction where Executive continues to hold Executive’s position with respect to the Company’s
business, but does not hold such position with respect to the entire business of the successor corporation); provided, however, that,
any such termination by Executive shall only be deemed for Good Reason pursuant to this definition if: (1) Executive gives the Company
written notice of Executive’s intent to terminate for Good Reason within thirty (30) days following Executive’s learning of
the occurrence of the condition(s) that Executive believes constitute(s) Good Reason, which notice shall describe such condition(s) in
reasonable detail; (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice
(the “Cure Period”); and (3) Executive voluntarily terminates Executive’s employment within thirty
(30) days following the end of the Cure Period. For the avoidance of doubt, any change in Executive’s title or the entity structure
of the Company, in each case, without a corresponding material reduction in Executive’s duties, authority, or responsibilities,
in accordance with clause (iv) above, shall not constitute Good Reason.

 

(h) The benefits provided to Executive pursuant to this Section 6.2 are in lieu of, and not in addition to, any benefits to which
Executive may otherwise be entitled under any Company severance plan, policy, or program.

 

(i)
Any damages caused by the termination of Executive’s employment without Cause or for Good Reason would be difficult to
ascertain; therefore, the Non-CIC Severance Benefits for which Executive is eligible pursuant to Section 6.2(a) above in exchange for
the Separation Agreement is agreed to by the parties as liquidated damages, to serve as full compensation, and not a penalty.

 

(j)
If the Company terminates Executive’s employment for Cause, or Executive resigns from employment with the Company without
Good Reason, regardless of whether or not such termination is in connection with a Change in Control, then Executive shall be entitled
to the Accrued Obligations, but Executive will not receive the Non-CIC Severance Benefits, the CIC Severance Benefits, or any other severance
compensation or benefit.

 

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6.3
Resignation by Executive for Good Reason or Termination by the Company without Cause (in connection with a Change in Control).

 

(a)  
In the event that the Company terminates Executive’s employment without Cause or Executive resigns for Good Reason within
three (3) months immediately prior to, or twelve (12) months following, the effective date of a Change in Control (the date of such termination,
the “Change in Control Termination Date”), then Executive shall be entitled to the Accrued Obligations and,
subject Section 6.2(b) above, in lieu of any severance benefits under Section 6.2(a), Executive shall be eligible to receive the following
severance benefits (collectively the “CIC Severance Benefits”), subject to the terms and conditions set forth
in Section 6.3(b):

 

(i)
An amount equal to twelve (12) months of Executive’s then current Base Salary, less applicable payroll deductions and
withholdings, paid in a lump sum the Company’s first regular payroll date after the 60th day following the Change in Control Termination
Date, provided that if the Change in Control Termination Date precedes the effective date of the Change in Control, such amount shall
(A) be reduced by the amount of the installments, if any, previously paid to Executive under Section 6.2(a)(i) and (B) be payable in a
lump sum on the Company’s first regular payroll date that occurs after the 60th day following the effective date of the Change in
Control;

 

(ii)
Provided Executive or Executive’s covered dependents, as the case may be, timely elect continued coverage under COBRA
under the Company’s group health plans following such termination, the COBRA premiums to continue Executive’s (and Executive’s
covered dependents, as applicable) health insurance coverage in effect on the termination date until the earliest of: (1) twelve (12)
months following the termination date; (2) the date when Executive becomes eligible for substantially equivalent health insurance coverage
in connection with new employment or self-employment (and Executive agrees to promptly notify in the Company in writing of such eligibility);
or (3) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination (such period
from the termination date through the earlier of (1)-(3), (the “CIC COBRA Payment Period”). Notwithstanding
the foregoing, if at any time the Company determines that its payment of COBRA premiums on Executive’s behalf would result in a
violation of applicable law (including, but not limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010
Health Care and Education Reconciliation Act) or imposition of an excise tax on the Company, then in lieu of paying COBRA premiums pursuant
to this Section, the Company shall pay Executive on the last day of each remaining month of the CIC COBRA Payment Period, a fully taxable
cash payment equal to the COBRA premium for such month, subject to applicable payroll deductions and withholding, for the remainder of
the CIC COBRA Payment Period. Nothing in this Agreement shall deprive Executive of Executive’s rights under COBRA or ERISA for benefits
under plans and policies arising under Executive’s employment by the Company;

 

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(iii)
To the extent unpaid as of the date of Executive’s employment termination, an amount equal to any Annual Bonus earned
by Executive for the Company’s fiscal year prior to the fiscal year in which such date of termination occurs, as determined by the
Board in its discretion based upon actual performance achieved, which amount, if any, shall be paid to Executive in the fiscal year in
which the such date of termination occurs and at substantially the same time as bonuses for such prior fiscal year are paid in the ordinary
course to actively employed senior executives of the Company;

 

(iv)
A lump sum cash payment in an amount equal to the full Target Bonus for the year in which the termination occurs, subject to
applicable payroll deductions and withholdings, which will be paid on the first payroll date after the 60th day following the later of
the Change in Control Termination Date and the effective date of the Change in Control, provided that Executive has delivered an effective
Separation Agreement as of such date; and

 

(v)
Effective as of Executive’s Change in Control Termination Date, the vesting and exercisability of all outstanding Company
equity awards that vest based solely on continued service held by Executive immediately prior to the Change in Control Termination Date
shall be accelerated in full (with any such awards that are subject to performance vesting conditions being governed by the terms of the
applicable awards). For the avoidance of doubt, if the Change in Control Termination Date precedes the Change in Control, any Time-Based
Awards shall remaining outstanding and eligible to vest under this Section upon the occurrence of such Change in Control and any outstanding
Company equity awards that are subject to performance vesting conditions shall be governed by the terms of the applicable awards.

 

(b)
The Company will not make any payments to Executive with respect to any of the benefits pursuant to Section 6.3(a) prior
to the 60th day following Executive’s date of termination. On the first payroll date after the 60th day following Executive’s
date of termination, and provided that Executive has delivered an effective Separation Agreement, the Company will (i) make the first
payment to Executive under Section 6.3(a) and, in a lump sum, an amount equal to the aggregate amount of payments that the Company
would have paid Executive through such date had the payments commenced on Executive’s date of termination through such 60th day,
with the balance of the payments paid thereafter on the schedule described above, subject to any delay in payment required by Section
6.6.

 

(c)
The benefits provided to Executive pursuant to this Section 6.3 are in lieu of, and not in addition to, any benefits to which
Executive may otherwise be entitled under any Company severance plan, policy, or program.

 

(d)
Any damages caused by the termination of Executive’s employment without Cause or for Good Reason in connection with a
Change in Control would be difficult to ascertain; therefore, the CIC Severance Benefits for which Executive is eligible pursuant to Section
6.3(a) above in exchange for the Separation Agreement is agreed to by the parties as liquidated damages, to serve as full compensation,
and not a penalty.

 

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6.4
Cooperation With the Company After Termination of Employment. Following termination of Executive’s employment
for any reason, Executive shall reasonably cooperate with the Company in all matters relating to the winding up of Executive’s pending
work including, but not limited to, any litigation in which the Company is involved, and the orderly transfer of any such pending work
to such other executives as may be designated by the Company; provided, that the Company agrees that the Company (a) shall make reasonable
efforts to minimize disruption of Executive’s other activities, and (b) shall reimburse Executive for all reasonable expenses incurred
in connection with such cooperation.

 

6.5
Effect of Termination. Executive agrees that should Executive’s employment be terminated for any reason, Executive
shall be deemed to have resigned from any and all positions with the Company, including, but not limited to, a position on the Board and
all positions with any and all subsidiaries and Affiliates of the Company.

 

6.6
Application of Section 409A.

 

(a)
It is intended that all of the compensation payable under this Agreement, either complies with the requirements of Section
409A of the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively, “Section
409A”) or satisfies one or more of the exemptions from the application of Section 409A, and this Agreement will be construed
in a manner consistent with such intention.

 

(b)
No severance payments will be made under this Agreement unless Executive’s termination of employment constitutes a “separation
from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder,
a “Separation from Service”). For purposes of Section 409A (including, without limitation, for purposes of Treasury
Regulations Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement (whether severance
payments or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment
hereunder shall at all times be considered a separate and distinct payment.

 

(c)
If the Company determines that the severance benefits provided under this Agreement constitutes “deferred compensation”
under Section 409A and if Executive is a “specified employee” of the Company, as such term is defined in Section 409A(a)(2)(B)(i)
of the Code at the time of Executive’s Separation from Service, then, solely to the extent necessary to avoid the incurrence of
the adverse personal tax consequences under Section 409A, the timing of the severance will be delayed as follows: on the earlier to occur
of (i) the date that is six months and one day after Executive’s Separation from Service, and (ii) the date of Executive’s
death, the Company will: (1) pay to Executive a lump sum amount equal to the sum of the severance benefits that Executive would otherwise
have received if the commencement of the payment of the severance benefits had not been delayed pursuant to this Section 6.6(c); and (2)
commence paying the balance of the severance benefits in accordance with the applicable payment schedule set forth in Sections 6.2(a)
and 6.3(a). No interest shall be due on any amounts deferred pursuant to this Section 6.6(c).

 

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(d)
To the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, amounts reimbursable to Executive
under this Agreement (i) shall be paid to Executive on or before the last day of the year following the year in which the expense was
incurred, (ii) the amount of expenses eligible for reimbursement (and in-kind benefits provided to Executive) during any one year may
not effect amounts reimbursable or provided in any subsequent year and (iii) the right to reimbursement under this Agreement will not
be subject to liquidation or exchange for another benefit. The Company makes no representation that compensation paid pursuant to the
terms of this Agreement will be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying
to any such payment.

 

6.7
Excise Tax Adjustment.

 

(a)
If any payment or benefit Executive will or may receive from the Company or otherwise (a “280G Payment”)
would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this
Section, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then any such
280G Payment (a “Payment”) shall be equal to the Reduced Amount. The “Reduced Amount”
shall be either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject
to the Excise Tax, or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount
determined by clause (x) or by clause (y)), after taking into account all applicable federal, state, and local employment taxes, income
taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax
basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a
reduction in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined pursuant to clause (x) of the
preceding sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest
economic benefit for Executive. If more than one method of reduction will result in the same economic benefit, the items so reduced will
be reduced pro rata (the “Pro Rata Reduction Method”).

 

(b)
Notwithstanding any provision of this Section 6.7 to the contrary, if the Reduction Method or the Pro Rata Reduction Method
would result in any portion of the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes
pursuant to Section 409A, then the Reduction Method and/or the Pro Rata Reduction Method, as the case may be, shall be modified so as
to avoid the imposition of taxes pursuant to Section 409A as follows: (A) as a first priority, the modification shall preserve to
the greatest extent possible, the greatest economic benefit for Executive as determined on an after-tax basis; (B) as a second priority,
Payments that are contingent on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before Payments
that are not contingent on future events; and (C) as a third priority, Payments that are not “deferred compensation”
within the meaning of Section 409A shall be reduced (or eliminated) before Payments that are deferred compensation within the meaning
of Section 409A.

 

(c)
Unless Executive and the Company agree on an alternative accounting firm or law firm, the accounting firm engaged by the Company
for general tax compliance purposes as of the day prior to the effective date of the Change in Control transaction shall perform the foregoing
calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity, or group
effecting the Change in Control transaction, the Company shall appoint a nationally recognized accounting, law firm or consulting firm
experienced in such calculations to make the determinations required by this Section 6.7. The Company shall bear all expenses with respect
to the determinations by such firm required to be made hereunder. The Company shall use reasonable efforts to cause the firm engaged to
make the determinations hereunder to provide its calculations, together with detailed supporting documentation, to Executive and the Company
within fifteen (15) calendar days after the date on which Executive’s right to a 280G Payment becomes reasonably likely to occur
(if requested at that time by Executive or the Company) or such other time as reasonably requested by Executive or the Company.

 

    11

     

    

 

(d)
If Executive receives a Payment for which the Reduced Amount was determined pursuant to clause (x) of Section 6.7(a) and the
Internal Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, Executive agrees to promptly
return to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of Section 6.7(a)) so that no portion
of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant to clause
(y) of Section 6.7(a), Executive shall have no obligation to return any portion of the Payment pursuant to the preceding sentence.

 

7.
General Provisions.

 

7.1
Notices. Any notices required hereunder shall be in writing and shall be deemed effectively given: (a) upon personal
delivery to the party to be notified, (b) when sent by electronic mail or confirmed facsimile if sent during normal business hours of
the recipient, and if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent to the Company at its primary office location and to
Executive at Executive’s address as listed on the Company payroll or (if notice is given prior to Executive’s termination
of employment) to Executive’s Company-issued email address, or at such other address as the Company or Executive may designate by
ten (10) days’ advance written notice to the other.

 

7.2
Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will not affect any other provision
or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal,
or unenforceable provisions had never been contained herein.

 

7.3
Waiver. If either party should waive any breach of any provisions of this Agreement, Executive or the Company shall
not thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement.

 

7.4
Complete Agreement. This Agreement (including Exhibit A) constitutes the entire agreement between Executive and the
Company with regard to the subject matter hereof and supersedes any prior discussions, communications and agreements. This Agreement is
entered into without reliance on any promise or representation other than those expressly contained herein, and it cannot be modified
or amended except in writing signed by Executive and an authorized officer of the Company.

 

    12

     

    

 

7.5
Counterparts. This Agreement may be executed by electronic transmission and in separate counterparts, any one of
which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement.

 

7.6
Headings. The headings of the sections hereof are inserted for convenience only and shall not be deemed to constitute
a part hereof nor to affect the meaning thereof.

 

7.7
Successors and Assigns. The Company shall assign this Agreement and its rights and obligations hereunder in whole,
but not in part, to any company or other entity with or into which the Company may hereafter merge or consolidate or to which the Company
may transfer all or substantially all of its assets, if in any such case said company or other entity shall by operation of law or expressly
in writing assume all obligations of the Company hereunder as fully as if it had been originally made a party hereto, but may not otherwise
assign this Agreement or its rights and obligations hereunder. Executive may not assign or transfer this Agreement or any rights or obligations
hereunder, other than Executive’s rights to payments hereunder, which may be transferred upon Executive’s death only by will
or operation of law.

 

7.8
Choice of Law. All questions concerning the construction, validity, and interpretation of this Agreement will be
governed by the laws of the State of Delaware.

 

7.9
Withholding. The Company shall be entitled to withhold from any amounts payable under this Agreement any federal,
state, local or foreign withholding or other taxes or charges which the Company is required to withhold. The Company shall be entitled
to rely on the advice of counsel if any questions as to the amount or requirement of withholding shall arise.

 

7.10
Resolution of Disputes. The parties recognize that litigation in federal or state courts or before federal or state
administrative agencies of disputes arising out of the Executive’s employment with the Company or out of this Agreement, or the
Executive’s termination of employment or termination of this Agreement, may not be in the best interests of either the Executive
or the Company, and may result in unnecessary costs, delays, complexities, and uncertainty. The parties agree that any dispute between
the parties arising out of or relating to the negotiation, execution, performance or termination of this Agreement or the Executive’s
employment, including, but not limited to, any claim arising out of this Agreement, claims under Title VII of the Civil Rights Act of
1964, as amended, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act
of 1990, Section 1981 of the Civil Rights Act of 1966, as amended, the Family Medical Leave Act, the Executive Retirement Income Security
Act, and any similar federal, state or local law, statute, regulation, or any common law doctrine, whether that dispute arises during
or after employment, shall be settled by binding arbitration in accordance with the Employment Arbitration Rules and Mediation Procedures
of the American Arbitration Association; provided however, that this dispute resolution provision shall not apply to any separate
agreements between the parties that do not themselves specify arbitration as an exclusive remedy, and provided further, nothing in this
Section shall be construed as precluding the bringing of an action for injunctive relief or specific performance as provided in this Agreement
or the Confidential Information Agreement. The location for the arbitration shall be the Boston, Massachusetts area. Any award made by
such panel shall be final, binding and conclusive on the parties for all purposes, and judgment upon the award rendered by the arbitrators
may be entered in any court having jurisdiction thereof. The arbitrators’ fees and expenses and all administrative fees and expenses
associated with the filing of the arbitration shall be borne by the Company; provided however, that at the Executive’s option,
Executive may voluntarily pay up to one-half the costs and fees. The parties acknowledge and agree that their obligations to arbitrate
under this Section survive the termination of this Agreement and continue after the termination of the employment relationship between
Executive and the Company. The parties each further agree that the arbitration provisions of this Agreement shall provide each party with
its exclusive remedy, and each party expressly waives any right it might have to seek redress in any other forum, except as otherwise
expressly provided in this Agreement. By election arbitration as the means for final settlement of all claims, the parties hereby waive
their respective rights to, and agree not to, sue each other in any action in a Federal, State or local court with respect to such claims,
but may seek to enforce in court an arbitration award rendered pursuant to this Agreement. The parties specifically agree to waive their
respective rights to a trial by jury, and further agree that no demand, request or motion will be made for trial by jury.

 

[Remainder of page intentionally left blank.]

 

    13

     

    

 

In Witness
Whereof, the parties have executed this Employment Agreement on the day and year first written above.

 

	 	Voltus, Inc.
	 	 	 
	 	By: 	/s/ Doug Perrygo
	 	Name: 	 Doug Perrygo 
	 	Title:	 Chief Financial Officer
	 	 	 
	 	Executive:
	 	 	 
	 	/s/ Laurie Harrison
	 	Laurie Harrison

 

     

     

    

 

Exhibit A

 

Employee
Proprietary Information and Inventions Assignment AgreementExhibit 4.2

 

Execution Version

 

 

 

 

 

SONOCO PRODUCTS COMPANY

 

to

 

REGIONS BANK

as Trustee

 

 

 

 

 

 

 

SIXTH SUPPLEMENTAL INDENTURE

Dated as of January 21, 2022

 

 

 

Supplemental to the Indenture

dated as of June 15, 1991

 

 

 

Establishing three series of Securities

designated

 

1.800% Notes Due 2025,

 

2.250% Notes Due 2027 and

 

2.850% Notes Due 2032

 

 

 

 

 

     

     

    

 

Table
of Contents

 

Page

 

	ARTICLE One   DEFINITIONS	2
	ARTICLE Two   TERMS AND ISSUANCE OF THE NOTES	4
	Section 2.1.   Issue of Notes	4
	Section 2.2.   Form of Notes; Incorporation of Terms	5
	Section 2.3.   Execution and Authentication	5
	Section 2.4.   Depositary for Global Securities	5
	Section 2.5.   Place of Payment	5
	Section 2.6.   Redemption by the Company	5
	Section 2.7.   Change of Control Repurchase Event	5
	ARTICLE Three   MISCELLANEOUS	6
	Section 3.1.   Execution as Supplemental Indenture	6
	Section 3.2.   Conflict with Trust Indenture Act	6
	Section 3.3.   Effect of Headings	6
	Section 3.4.   Successors and Assigns	6
	Section 3.5.   Separability Clause	7
	Section 3.6.   Benefits of Sixth Supplemental Indenture	7
	Section 3.7.   Execution and Counterparts	7
	Section 3.8.   Governing Law	7

 

    i 

     

    

 

Sixth SUPPLEMENTAL INDENTURE, dated as of January
21, 2022 (herein called the “Sixth Supplemental Indenture”), between Sonoco Products Company, a corporation duly organized
and existing under the laws of the State of South Carolina (hereinafter called the “Company”), and Regions Bank (the “Trustee”),
as successor to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A. and as successor
to The Bank of New York) (the “Prior Trustee”), which was successor in interest to Wachovia Bank of North Carolina, National
Association, as trustee under the Original Indenture referred to below (hereinafter called the “Original Trustee”).

 

WITNESSETH:

 

WHEREAS, the Company has heretofore executed and
delivered to the Original Trustee an indenture dated as of June 15, 1991 (hereinafter called the “Original Indenture”), to
provide for the issuance from time to time in one or more series of its unsecured debentures, notes, bonds or other evidences of indebtedness
(herein called the “Securities”), the form and terms of which are to be established as set forth in Sections 201 and 301 of
the Original Indenture;

 

WHEREAS, pursuant to an Agreement of Resignation,
Appointment and Acceptance, dated as of October 19, 2021, among the Company, the Prior Trustee and the Trustee, the Prior Trustee resigned
under the Original Indenture and the Company appointed the Trustee, and the Trustee agreed to act as trustee, under the Original Indenture.

 

WHEREAS, Section 901(7) of the Original Indenture
provides, among other things, that the Company and the Trustee may enter into indentures supplemental to the Original Indenture to, among
other things, establish the form and terms of the Securities of any series as permitted in Sections 201 and 301 of the Original Indenture;

 

WHEREAS, the Company desires to create three series
of the Securities to be designated (i) the “1.800% Notes due 2025,” (ii) the “2.250% Notes due 2027” and (iii)
the “2.850% Notes due 2032,” and all action on the part of the Company necessary to authorize the issuance of the Notes (as
hereinafter defined) under the Original Indenture and this Sixth Supplemental Indenture has been duly taken; and

 

WHEREAS, all acts and things necessary to make
the Notes, when executed by the Company and completed, authenticated and delivered by the Trustee as provided in the Original Indenture
and this Sixth Supplemental Indenture, the valid and binding obligations of the Company and to constitute these presents a valid and binding
supplemental indenture and agreement according to its terms, have been done and performed;

 

NOW, THEREFORE, THIS SIXTH SUPPLEMENTAL INDENTURE
WITNESSETH:

 

That in consideration of the premises and of the
acceptance and purchase of the Notes by the holders thereof and of the acceptance of this trust by the Trustee, the Company covenants
and agrees with the Trustee, for the equal benefit of holders of the Notes (as hereinafter defined), as follows:

 

    1 

     

    

 

ARTICLE
One

DEFINITIONS

 

Except to the extent such terms are otherwise defined
in this Sixth Supplemental Indenture or the context clearly requires otherwise, all terms used in this Sixth Supplemental Indenture which
are defined in the Original Indenture or the forms of Notes, attached hereto as Exhibits A, B and C, have the meanings assigned to them
therein.

 

In addition, as used in this Sixth Supplemental
Indenture, the following terms have the following meanings:

 

“2025 Notes” means the $400,000,000
aggregate principal amount of the 1.800% Notes due 2025 originally issued on the Issue Date and any other 1.800% Notes due 2025 issued
after the Issue Date in accordance with clause (ii) of Section 2.3 hereof treated as a single series of securities for all purposes, as
amended or supplemented from time to time in accordance with the terms of this Sixth Supplemental Indenture and the Original Indenture,
that are issued pursuant to this Sixth Supplemental Indenture.

 

“2027 Notes” means the $300,000,000
aggregate principal amount of the 2.250% Notes due 2027 originally issued on the Issue Date and any other 2.250% Notes due 2027 issued
after the Issue Date in accordance with clause (ii) of Section 2.3 hereof treated as a single series of securities for all purposes, as
amended or supplemented from time to time in accordance with the terms of this Sixth Supplemental Indenture and the Original Indenture,
that are issued pursuant to this Sixth Supplemental Indenture.

 

“2032 Notes” means the $500,000,000
aggregate principal amount of the 2.850% Notes due 2032 originally issued on the Issue Date and any other 2.850% Notes due 2032 issued
after the Issue Date in accordance with clause (ii) of Section 2.3 hereof treated as a single series of securities for all purposes, as
amended or supplemented from time to time in accordance with the terms of this Sixth Supplemental Indenture and the Original Indenture,
that are issued pursuant to this Sixth Supplemental Indenture.

 

“Change of Control” means the occurrence
of any one of the following:

 

(1)       the
direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any
 “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries;

 

(2)       the
consummation of any transaction (including without limitation, any merger or consolidation) the result of which is that any “person”
(as that term is used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of the Company, measured by voting
power rather than number of shares;

 

    2 

     

    

 

(3)       the
Company consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, the Company, in
any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other Person is converted
into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Voting Stock of the
Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting
Stock of the surviving Person immediately after giving effect to such transaction, measured by voting power rather than number of shares;
or

 

(4)       the
adoption of a plan relating to the liquidation or dissolution of the Company.

 

“Change of Control Repurchase Event”
means the Notes of a series cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during the period
(the “Repurchase Period”) commencing 60 days prior to the first public announcement of any Change of Control (or pending Change
of Control) and ending 60 days following consummation of such Change of Control (which Repurchase Period will be extended following consummation
of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change).
Unless at least two of the three Rating Agencies are providing a rating for the Notes of the applicable series at the commencement of
any Repurchase Period, the Notes of that series will be deemed to have ceased to be rated Investment Grade by at least two of the three
Rating Agencies during that Repurchase Period. Notwithstanding the foregoing, no Change of Control Repurchase Event will be deemed to
have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated.

 

“Commission” means the U.S. Securities
and Exchange Commission.

 

“Exchange Act” means the Securities
Exchange Act of 1934, as amended.

 

“Fitch” means Fitch Inc.
and its successors.

 

“Global Note” means a single permanent
fully-registered global note in book-entry form, without coupons, substantially in the form of Exhibit A, B or C attached hereto, as applicable.

 

“Investment Grade” means a rating of
Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s); a rating of BBB- or better by
S&P (or its equivalent under any successor rating category of S&P); and a rating of BBB- or better by Fitch (or its equivalent
under any successor rating category of Fitch).

 

“Issue Date” means the date on which
the Notes are originally issued.

 

“Moody’s” means Moody’s
Investors Service, Inc. and its successors.

 

“Notes” means (1) the 2025 Notes, (2)
the 2027 Notes and (3) the 2032 Notes.

 

    3 

     

    

 

“Rating Agency” means each of Moody’s,
S&P and Fitch; provided, that if any of Moody’s, S&P and Fitch ceases to provide rating services to issuers or investors,
the Company may appoint a replacement for such Rating Agency.

 

“Repurchase Period” means the period
commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending
60 days following consummation of such Change of Control (which Repurchase Period will be extended following consummation of a Change
of Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change).

 

“S&P” means S&P
Global Ratings, a division of S&P Global Inc. and its successors.

 

“Voting Stock” of any specified Person
as of any date means the capital stock of such Person that is at the time entitled to vote generally in the election of the Board of Directors
of such Person.

 

ARTICLE
Two

TERMS AND ISSUANCE OF THE NOTES

 

Section 2.1.         
Issue of Notes. Three series of Securities, which shall be designated the “1.800% Notes due 2025” in the case
of the 2025 Notes, the “2.250% Notes due 2027” in the case of the 2027 Notes and the “2.850% Notes due 2032” in
the case of the 2032 Notes, shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects
be subject to, the terms, conditions and covenants of, the Original Indenture, as amended, and this Sixth Supplemental Indenture (including
the forms of Notes attached hereto as Exhibits A, B and C). The aggregate principal amount of the 2025 Notes which may be authenticated
and delivered under this Sixth Supplemental Indenture shall not, except as permitted by the provisions of the Original Indenture, initially
exceed $400,000,000. The aggregate principal amount of the 2027 Notes which may be authenticated and delivered under this Sixth Supplemental
Indenture shall not, except as permitted by the provisions of the Original Indenture, initially exceed $300,000,000. The aggregate principal
amount of the 2032 Notes which may be authenticated and delivered under this Sixth Supplemental Indenture shall not, except as permitted
by the provisions of the Original Indenture, initially exceed $500,000,000. Notwithstanding the foregoing, the Company may from time to
time or at any time, without the consent of the Holders of the Notes of a series, issue additional Notes that have the same ranking, interest
rate, maturity date and other terms as the Notes of such series (except for the issue date, the public offering price and, in some cases,
the first interest payment date) (“Additional Notes”), which Additional Notes shall increase the aggregate principal amount
of, and shall be consolidated and form a single series for purposes of this Sixth Supplemental Indenture and the Original Indenture with,
the Notes of such series, provided that any Additional Notes are fungible with the Notes of the applicable series for U.S. federal income
tax purposes. No Additional Notes may be issued if an “Event of Default” (as defined in the
Original Indenture) has occurred and is continuing with respect to the Notes of the applicable series.

 

    4 

     

    

 

Section 2.2.         
Form of Notes; Incorporation of Terms. The Notes of each series shall be issued initially in the form of a permanent Global
Note substantially in the form of Exhibit A attached hereto, in the case of the 2025 Notes, Exhibit B attached hereto, in the case
of the 2027 Notes and Exhibit C attached hereto, in the case of the 2032 Notes. The Notes may have such notations, legends or endorsements
approved as to form by the Company and required, as applicable, by law, stock exchange or depository rule, agreements to which the Company
is subject and/or usage. The terms of the 2025 Notes set forth in Exhibit A, the terms of the 2027 Notes set forth in Exhibit B and the
terms of the 2032 Notes set forth in Exhibit C are herein incorporated by reference and are part of the terms of this Sixth Supplemental
Indenture.

 

Section 2.3.         
Execution and Authentication. The Trustee, upon a Company Order and pursuant to the terms of the Original Indenture and
this Sixth Supplemental Indenture, shall authenticate and deliver (i) the 2025 Notes for original issue in an initial aggregate principal
amount of $400,000,000, the 2027 Notes for original issue in an initial aggregate principal amount of $300,000,000 and the 2032 Notes
for original issue in an initial aggregate principal amount of $500,000,000 and (ii) any Additional Notes for original issue after the
Issue Date in the amounts specified by the Company. Such Company Order shall specify the amount of the Notes to be authenticated, the
date on which the original issue of Notes is to be authenticated and, if the Notes are to be Notes issued pursuant to clause (ii) above,
that the Notes are to be Notes issued pursuant to clause (ii) above and the aggregate principal amount of Notes outstanding on the date
of authentication. All of the Notes of a series issued under the Original Indenture and this Sixth Supplemental Indenture shall be treated
as a single series for all purposes under the Original Indenture and this Sixth Supplemental Indenture, including, without limitation,
waivers, amendments, and offers to purchase.

 

Notwithstanding Sections 202 and 303 of the Original
Indenture, the Notes do not require a corporate seal to be reproduced thereon.

 

Section 2.4.         
Depositary for Global Securities. The Depositary for the Securities of the series of which the Notes are a part shall be
The Depository Trust Company in the City of New York.

 

Section 2.5.         
Place of Payment. The Place of Payment in respect of the Notes will be at the principal office or agency of the Company
in the City of New York, State of New York or at the office or place of business of the Trustee or its successor in trust under the Original
Indenture, which, at the date hereof, is located at 10161 Centurion Parkway, Jacksonville, Florida 32256.

 

Section 2.6.         
Redemption by the Company. The Notes of each series may be redeemed at the option of the Company on the terms and conditions
set forth in the form of Note of such series set forth hereto as Exhibit A, B and C. The Notes of each series shall be subject to mandatory
redemption on the terms and conditions set forth in the form of Note of such series set forth hereto as Exhibit A, B or C, as applicable.

 

Section 2.7.         
Change of Control Repurchase Event. Upon the occurrence of a Change of Control Repurchase Event with respect to a series,
unless the Company has exercised its right to redeem the applicable series of Notes as described in Section 2.6 hereof, each Holder of
the Notes of such series will have the right to require the Company to purchase all or a portion of such Holder’s Notes pursuant
to the offer described below (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof
plus accrued and unpaid interest, if any, to the date of purchase, subject to the rights of Holders of Notes on the relevant Regular Record
Date to receive interest due on the relevant Interest Payment Date.

 

    5 

     

    

 

Within 30 days following the date upon which the
Change of Control Repurchase Event occurred, or at the Company’s option, prior to any Change of Control but after the public announcement
of the pending Change of Control, the Company will be required to send, by first class mail, a notice to each Holder of Notes, with a
copy to the Trustee, which notice will govern the terms of the Change of Control Offer. Such notice will state, among other things, the
purchase date, which must be no earlier than 30 days nor later than 60 days from the date such notice is mailed, other than as may be
required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change
of Control, will state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change
of Control Payment Date. Holders of Notes electing to have Notes purchased pursuant to a Change of Control Offer will be required to surrender
their Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to the Paying
Agent at the address specified in the notice, or transfer their Notes to the Paying Agent by book-entry transfer pursuant to the applicable
procedures of the Paying Agent, prior to the close of business on the third Business Day prior to the Change of Control Payment Date.

 

The Company will not be required to make a Change
of Control Offer with respect to a series if a third party makes such an offer with respect to that series in the manner, at the times
and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all Notes of that
series properly tendered and not withdrawn under its offer.

 

ARTICLE
Three

MISCELLANEOUS

 

Section 3.1.         
Execution as Supplemental Indenture. This Sixth Supplemental Indenture is executed and shall be construed as an indenture
supplemental to the Original Indenture and, as provided in the Original Indenture, this Sixth Supplemental Indenture forms a part thereof.

 

Section 3.2.         
Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof,
or with a provision of the Original Indenture, which is required to be included in this Sixth Supplemental Indenture, or in the Original
Indenture, respectively, by any of the provisions of the Trust Indenture Act, such required provision shall control.

 

Section 3.3.         
Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction
hereof.

 

Section 3.4.         
Successors and Assigns. All covenants and agreements by the Company in this Sixth Supplemental Indenture shall bind its
successors and assigns, whether so expressed or not.

 

    6 

     

    

 

Section 3.5.         
Separability Clause. In case any provision in this Sixth Supplemental Indenture or in the Notes 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 3.6.         
Benefits of Sixth Supplemental Indenture. Nothing in this Sixth Supplemental Indenture or in the Notes, express or implied,
shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable
right, remedy or claim under this Sixth Supplemental Indenture.

 

Section 3.7.         
Execution and Counterparts. This Sixth Supplemental Indenture may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. Exchange of signature
pages to this Sixth Supplemental Indenture and the 2025 Notes, the 2027 Notes and the 2032 Notes by facsimile or electronic transmission
shall constitute effective execution, delivery of this Sixth Supplemental Indenture and authentication of the 2025 Notes, the 2027 Notes
and the 2032 Notes.

 

The words “execution,” “signed,”
 “signature,” “delivery,” and words of like import in or relating to the Indenture or any document to be signed
in connection with this Sixth Supplemental Indenture shall be deemed to include electronic signatures (including, without limitation,
any .pdf file, .jpeg file or any other electronic or image file, or any other “electronic signature” as defined under Signature
Law (as defined below), including Orbit, Adobe Fill & Sign, Adobe Sign, DocuSign, or any other similar platform identified by
the Company and reasonably available at no undue burden or expense to the Trustee), deliveries or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions
contemplated hereunder by electronic means.

 

This Sixth Supplemental Indenture shall be valid,
binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means of (i) an
original manual signature; (ii) a faxed, scanned, or photocopied manual signature, or (iii) any other electronic signature permitted
by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act,
and/or any other relevant electronic signatures law, including any relevant provisions of the Uniform Commercial Code/UCC (collectively,
 “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic
signature, shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature.
Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied
manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify
the validity or authenticity thereof. This Sixth Supplemental Indenture may be executed in any number of counterparts, each of which shall
be deemed to be an original, but such counterparts shall, together, constitute one and the same instrument. For the avoidance of doubt,
original manual signatures shall be used for execution or indorsement of writings when required under the UCC or other Signature Law due
to the character or intended character of the writings.

 

Section 3.8.         
Governing Law. This Sixth Supplemental Indenture and the Notes shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles thereof.

 

    7 

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Sixth Supplemental Indenture to be duly executed, all as of the day and year first above written.

 

 

	 	SONOCO PRODUCTS COMPANY
	 	 	 
	 	 	 
	 	By: 	/s/ Julie C. Albrecht
	 	Name: 	Julie C. Albrecht
	 	Title: 	Vice President and Chief Financial Officer
	 	 	 
	 	 	 
	 	 	 
	 	REGIONS BANK, as Trustee
	 	 	 
	 	 	 
	 	By: 	/s/ Craig A. Kaye
	 	Name: 	Craig A. Kaye
	 	Title: 	Vice President

 

    8 

     

    

 

EXHIBIT A

 

[FORM OF FACE OF 2025 NOTE]

 

[IF THE SECURITY IS TO BE A GLOBAL SECURITY, INSERT
-- UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY AS REFERRED
TO IN THE INDENTURE HEREINAFTER REFERENCED AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL
IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.]

 

SONOCO PRODUCTS COMPANY

1.800% Notes due 2025

 

	 	 	 	 	 	$[●]

 

	NO. 2025-[●]	CUSIP 835495 AM4

 

SONOCO PRODUCTS COMPANY, a corporation duly organized
and existing under the laws of the State of South Carolina (herein called the “Company”, which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal of [●] HUNDRED MILLION DOLLARS ($[●],000,000) on February 1, 2025, and to pay interest thereon from January
21, 2022, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on February
1 and August 1 in each year, commencing August 1, 2022, at the rate of 1.800% per annum, until the principal hereof is paid or made available
for payment (assuming a 360-day year consisting of twelve 30-day months). The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January
15 or July 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities
of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

    A-1

     

    

 

Payment of the principal of (and premium, if any)
and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the United States, in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register, or by wire transfer to the Person entitled thereto.

 

Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.

 

Unless the certificate of authentication hereon
has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

 

    A-2

     

    

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed and attested.

 

Dated: [●]

 

	 	 	 	SONOCO PRODUCTS COMPANY
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	By:	 
	Attest:	 	 	 	Name:	 
	 	Secretary	 	 	Title:	 

 

    A-3

     

    

 

CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture.

 

	 	REGIONS BANK, As Trustee
	 	 	 
	 	 	 
	 	By:	 
	Date: [●]	 	Authorized Officer

 

    A-4

     

    

 

[FORM OF REVERSE OF 2025 NOTE]

SONOCO PRODUCTS COMPANY

 

1.800% Notes due 2025

 

1.       This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of June 15, 1991, as supplemented by a Sixth Supplemental Indenture, dated as
of January 21, 2022 (as so supplemented, herein called the “Indenture”), between the Company and Regions Bank (as successor
to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A. and as successor to The
Bank of New York), which was successor in interest to Wachovia Bank of North Carolina, National Association), as successor trustee (herein
called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof, which series is initially limited in aggregate principal
amount to $400,000,000; provided that the Company may from time to time or at any time, without the consent of Holders of the Securities
of this series, issue additional Notes as provided in the Indenture. Such additional Notes shall increase the aggregate principal amount
of, and shall be consolidated and form a single series with, the Notes.

 

2.       At
any time prior to February 1, 2023 (the “Par Call Date”), the Securities will be redeemable in whole at any time or in part
from time to time, at the Company’s option, at a redemption price equal to the greater of (i) 100% of the principal amount of the
Securities to be redeemed, or (ii) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the redemption date (assuming the Securities to be redeemed matured on the Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, less (b) interest accrued to the redemption
date.

 

In addition, at any time on or after the Par Call Date, the Securities
will be redeemable at any time or from time to time, in whole or in part, at the Company’s option, at a redemption price equal to
100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest on the Securities, calculated assuming
a 360-day year consisting of twelve 30-day months, to, but not including, the redemption date.

 

“Treasury Rate” means, with respect
to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the Company
after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of
Governors of the Federal Reserve System), on the third Business Day preceding the applicable redemption date based upon the yield or yields
for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors
of the Federal Reserve System designated as “Selected Interest Rates (Daily) — H.15” ​(or
any successor designation or publication) (“H.15”) under the caption “U.S. government securities — Treasury
constant maturities — Nominal” ​(or any successor caption or heading). In determining
the Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal
to the period from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury
constant maturity on H.15 exactly equal to the Remaining Life, the two yields — one yield corresponding to the Treasury
constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life — and shall interpolate to the Par Call Date on a straight-line basis (using the actual
number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity
on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining
Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity
date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the applicable
redemption date.

 

    A-5

     

    

 

If on the third Business Day preceding the applicable
redemption date H.15 is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such redemption date of the
United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United
States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date
equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the
Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there
are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting
the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United
States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury
securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the
semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices
(expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security,
and rounded to three decimal places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. The Trustee shall have no
obligation to verify or confirm any such calculation.

 

Notice of any optional redemption will be mailed
or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but
not more than 60 days before the redemption date to each Holder of the Securities to be redeemed.

 

    A-6

     

    

 

In the case of a partial redemption, selection
of the Securities for redemption will be made pro rata, by lot or such other method as the Trustee in its sole discretion deems appropriate
and fair. No Securities of a principal amount of $2,000 or less will be redeemed in part. If any Securities are to be redeemed in part
only, the notice of redemption that relates to the Securities will state the portion of the principal amount of the Securities to be redeemed.
New Securities in a principal amount equal to the unredeemed portion of the Securities will be issued in the name of the Holder of the
Securities upon surrender for cancellation of the original Securities. For so long as the Securities are held by DTC (or another depositary),
the redemption of the Securities shall be done in accordance with the policies and procedures of the depositary. Unless the Company defaults
in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Securities or the portions
of the Securities called for redemption.

 

3.       In
the event that (a) the transactions contemplated by the Equity Purchase Agreement and Agreement and Plan of Merger, dated as of December
19, 2021 (the “Ball Metalpack Agreement”), among the Company, Magnet Merger Sub LLC, PE Spray Holdings, L.P., Ball Metalpack
Holding, LLC, and Platinum Equity Advisors, LLC are not consummated on or before June 20, 2023 (the “Outside Date”) or
(b) at any time prior to the Outside Date, the Ball Metalpack Agreement is terminated (either such event being a “Special Mandatory
Redemption Event”), the Company shall redeem the Securities (the “Special Mandatory Redemption”) at the Special Mandatory
Redemption Price. The “Special Mandatory Redemption Price” shall be a price equal to 101% of the principal amount of the Securities
(or if the Special Mandatory Redemption Date (as defined below) falls on or after the Par Call Date, 100% of the principal amount of the
Securities), plus accrued and unpaid interest thereon to, but excluding, the Special Mandatory Redemption Date (subject to the right of
Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date.

 

Notice of the occurrence of a Special Mandatory
Redemption Event shall be delivered by the Company (a “Special Mandatory Redemption Notice”) to the Trustee within three Business
Days following the occurrence of a Special Mandatory Redemption Event and at least five Business Days prior to the anticipated Special
Mandatory Redemption Date. Concurrently with the delivery of the Special Mandatory Redemption Notice, the Company shall provide the Trustee
with a notice to the Holders of the Securities that a Special Mandatory Redemption is to occur and request the Trustee to, at the Company’s
expense, deliver (in accordance with the procedures of DTC) such notice; provided, however, that the Special Mandatory Redemption Notice
and notice to Holders will be provided to the Trustee no less than three Business Days prior to the date that such notice is to be delivered
to Holders, or such shorter time as the Trustee may agree. Within three Business Days (or such other minimum period as may be required
by DTC) after the Trustee’s delivery of such notice of a Special Mandatory Redemption Event, the Company shall complete the Special
Mandatory Redemption (the date of such redemption, the “Special Mandatory Redemption Date”).

 

On the Business Day prior to the Special Mandatory
Redemption Date, the Company shall deposit with the Trustee any amounts necessary to fund the redemption of the Securities at the Special
Mandatory Redemption Price.

 

The Trustee shall use such amounts on deposit to
pay the Special Mandatory Redemption Price on the Special Mandatory Redemption Date, in accordance with the applicable procedures of DTC.

 

The provisions of this paragraph 3 may not be waived
or modified without the written consent of all Holders of the Securities.

 

    A-7

     

    

 

4.       Upon
the occurrence of a Change of Control Repurchase Event (as defined in the Indenture), each Holder of the Securities will have the right
to require the Company to redeem the Securities on the terms and conditions set forth in the Indenture.

 

5.       If
an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture.

 

6.       The
Indenture contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants
upon compliance by the Company with certain conditions, set forth therein, which provisions apply to the Securities of this series.

 

7.       The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company
and the Trustee with the consent of the Holders of 66 2/3% in principal amount of the Securities at the time Outstanding of each series
to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities
of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver
by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

8.       No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

 

9.       As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in
form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

10.       The
Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000
in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

    A-8

     

    

 

11.       No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

 

12.       Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

13.       All
capitalized terms used but not defined in this Security which are defined in the Indenture shall have the meanings assigned to them in
the Indenture.

 

14.       The
Securities of this series are not subject to any sinking fund.

 

15.       The
Securities of this series shall be governed by and construed in accordance with the laws of the State of New York.

 

[BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

 

    A-9

     

    

 

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Security purchased
by Sonoco Products Company pursuant to Section 2.7 (Change of Control Repurchase Event) of the Indenture, check the box below:

 

[   ] Section 2.7

 

If you want to elect to have only part of the Security
purchased by Sonoco Products Company pursuant to Section 2.7 of the Indenture, state the amount you elect to have purchased:

 

$______________

 

	Date: 	 	 	Your Signature:	 
	 	 	 	(Sign exactly as your name appears on the Security)

 

Tax Identification Number: ___________

 

Signature guarantee: ____________________

 

(Signature must be guaranteed by a participant in
a recognized signature guarantee medallion program)

 

    A-10

     

    

 

EXHIBIT B

 

[FORM OF FACE OF 2027 NOTE]

 

[IF THE SECURITY IS TO BE A GLOBAL SECURITY, INSERT
-- UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY AS REFERRED
TO IN THE INDENTURE HEREINAFTER REFERENCED AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL
IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.]

 

SONOCO PRODUCTS COMPANY

2.250% Notes due 2027

 

	 	 	 	 	 	$[●]

 

	NO. 2027-[●]	CUSIP 835495
AN2

 

SONOCO PRODUCTS COMPANY, a corporation duly organized
and existing under the laws of the State of South Carolina (herein called the “Company”, which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal of [●] HUNDRED MILLION DOLLARS ($[●],000,000) on February 1, 2027, and to pay interest thereon from January
21, 2022, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on February
1 and August 1 in each year, commencing August 1, 2022, at the rate of 2.250% per annum, until the principal hereof is paid or made available
for payment (assuming a 360-day year consisting of twelve 30-day months). The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January
15 or July 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities
of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

    B-1

     

    

 

Payment of the principal of (and premium, if any)
and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the United States, in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register, or by wire transfer to the Person entitled thereto.

 

Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.

 

Unless the certificate of authentication hereon
has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

 

    B-2

     

    

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed and attested.

 

Dated: [●]

 

	 	 	 	SONOCO PRODUCTS COMPANY
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	By:	 
	Attest:	 	 	 	Name:	 
	 	Secretary	 	 	Title:	 

 

    B-3

     

    

 

CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture.

 

	 	REGIONS BANK, As Trustee
	 	 	 
	 	 	 
	 	By:	 
	Date: [●]	 	Authorized Officer

 

    B-4

     

    

 

[FORM OF REVERSE OF 2027 NOTE]

SONOCO PRODUCTS COMPANY

 

2.250% Notes due 2027

 

1.       This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of June 15, 1991, as supplemented by a Sixth Supplemental Indenture, dated as
of January 21, 2022 (as so supplemented, herein called the “Indenture”), between the Company and Regions Bank (as successor
to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A. and as successor to The
Bank of New York), which was successor in interest to Wachovia Bank of North Carolina, National Association), as successor trustee (herein
called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof, which series is initially limited in aggregate principal
amount to $300,000,000; provided that the Company may from time to time or at any time, without the consent of Holders of the Securities
of this series, issue additional Notes as provided in the Indenture. Such additional Notes shall increase the aggregate principal amount
of, and shall be consolidated and form a single series with, the Notes.

 

2.       At
any time prior to January 1, 2027 (the “Par Call Date”), the Securities will be redeemable in whole at any time or in part
from time to time, at the Company’s option, at a redemption price equal to the greater of (i) 100% of the principal amount of the
Securities to be redeemed, or (ii) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the redemption date (assuming the Securities to be redeemed matured on the Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, less (b) interest accrued to the redemption
date.

 

In addition, at any time on or after the Par Call
Date, the Securities will be redeemable at any time or from time to time, in whole or in part, at the Company’s option, at a redemption
price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest on the Securities, calculated
assuming a 360-day year consisting of twelve 30-day months, to, but not including, the redemption date.

 

“Treasury Rate” means, with respect
to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the Company
after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of
Governors of the Federal Reserve System), on the third Business Day preceding the applicable redemption date based upon the yield or yields
for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors
of the Federal Reserve System designated as “Selected Interest Rates (Daily) — H.15” ​(or
any successor designation or publication) (“H.15”) under the caption “U.S. government securities — Treasury
constant maturities — Nominal” ​(or any successor caption or heading). In determining
the Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal
to the period from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury
constant maturity on H.15 exactly equal to the Remaining Life, the two yields — one yield corresponding to the Treasury
constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life — and shall interpolate to the Par Call Date on a straight-line basis (using the actual
number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity
on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining
Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity
date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the applicable
redemption date.

 

    B-5

     

    

 

If on the third Business Day preceding the applicable
redemption date H.15 is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such redemption date of the
United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United
States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date
equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the
Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there
are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting
the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United
States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury
securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the
semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices
(expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security,
and rounded to three decimal places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. The Trustee shall have no
obligation to verify or confirm any such calculation.

 

Notice of any optional redemption will be mailed
or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but
not more than 60 days before the redemption date to each Holder of the Securities to be redeemed.

 

In the case of a partial redemption, selection
of the Securities for redemption will be made pro rata, by lot or such other method as the Trustee in its sole discretion deems appropriate
and fair. No Securities of a principal amount of $2,000 or less will be redeemed in part. If any Securities are to be redeemed in part
only, the notice of redemption that relates to the Securities will state the portion of the principal amount of the Securities to be redeemed.
New Securities in a principal amount equal to the unredeemed portion of the Securities will be issued in the name of the Holder of the
Securities upon surrender for cancellation of the original Securities. For so long as the Securities are held by DTC (or another depositary),
the redemption of the Securities shall be done in accordance with the policies and procedures of the depositary. Unless the Company defaults
in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Securities or the portions
of the Securities called for redemption.

 

    B-6

     

    

 

3.       In
the event that (a) the transactions contemplated by the Equity Purchase Agreement and Agreement and Plan of Merger, dated as of December
19, 2021 (the “Ball Metalpack Agreement”), among the Company, Magnet Merger Sub LLC, PE Spray Holdings, L.P., Ball Metalpack
Holding, LLC, and Platinum Equity Advisors, LLC are not consummated on or before June 20, 2023 (the “Outside Date”) or
(b) at any time prior to the Outside Date, the Ball Metalpack Agreement is terminated (either such event being a “Special Mandatory
Redemption Event”), the Company shall redeem the Securities (the “Special Mandatory Redemption”) at the Special Mandatory
Redemption Price. The “Special Mandatory Redemption Price” shall be a price equal to 101% of the principal amount of the Securities,
plus accrued and unpaid interest thereon to, but excluding, the Special Mandatory Redemption Date (as defined below) (subject to the right
of Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date.

 

Notice of the occurrence of a Special Mandatory
Redemption Event shall be delivered by the Company (a “Special Mandatory Redemption Notice”) to the Trustee within three Business
Days following the occurrence of a Special Mandatory Redemption Event and at least five Business Days prior to the anticipated Special
Mandatory Redemption Date. Concurrently with the delivery of the Special Mandatory Redemption Notice, the Company shall provide the Trustee
with a notice to the Holders of the Securities that a Special Mandatory Redemption is to occur and request the Trustee to, at the Company’s
expense, deliver (in accordance with the procedures of DTC) such notice; provided, however, that the Special Mandatory Redemption Notice
and notice to Holders will be provided to the Trustee no less than three Business Days prior to the date that such notice is to be delivered
to Holders, or such shorter time as the Trustee may agree. Within three Business Days (or such other minimum period as may be required
by DTC) after the Trustee’s delivery of such notice of a Special Mandatory Redemption Event, the Company shall complete the Special
Mandatory Redemption (the date of such redemption, the “Special Mandatory Redemption Date”).

 

On the Business Day prior to the Special Mandatory
Redemption Date, the Company shall deposit with the Trustee any amounts necessary to fund the redemption of the Securities at the Special
Mandatory Redemption Price.

 

The Trustee shall use such amounts on deposit to
pay the Special Mandatory Redemption Price on the Special Mandatory Redemption Date, in accordance with the applicable procedures of DTC.

 

The provisions of this paragraph 3 may not be waived
or modified without the written consent of all Holders of the Securities.

 

    B-7

     

    

 

4.       Upon
the occurrence of a Change of Control Repurchase Event (as defined in the Indenture), each Holder of the Securities will have the right
to require the Company to redeem the Securities on the terms and conditions set forth in the Indenture.

 

5.       If
an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture.

 

6.       The
Indenture contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants
upon compliance by the Company with certain conditions, set forth therein, which provisions apply to the Securities of this series.

 

7.       The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company
and the Trustee with the consent of the Holders of 66 2/3% in principal amount of the Securities at the time Outstanding of each series
to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities
of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver
by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

8.       No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

 

9.       As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in
form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

10.       The
Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000
in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

    B-8

     

    

 

11.       No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

 

12.       Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

13.       All
capitalized terms used but not defined in this Security which are defined in the Indenture shall have the meanings assigned to them in
the Indenture.

 

14.       The
Securities of this series are not subject to any sinking fund.

 

15.       The
Securities of this series shall be governed by and construed in accordance with the laws of the State of New York.

 

[BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

 

    B-9

     

    

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Security purchased
by Sonoco Products Company pursuant to Section 2.7 (Change of Control Repurchase Event) of the Indenture, check the box below:

 

[   ] Section 2.7

 

If you want to elect to have only part of the Security
purchased by Sonoco Products Company pursuant to Section 2.7 of the Indenture, state the amount you elect to have purchased:

 

$______________

 

	Date: 	 	 	Your Signature:	 
	 	 	 	(Sign exactly as your name appears on the Security)

 

Tax Identification Number: ______________

 

Signature guarantee: ____________________

 

(Signature must be guaranteed by a participant in
a recognized signature guarantee medallion program)

 

    B-10

     

    

 

EXHIBIT C

 

[FORM OF FACE OF 2032 NOTE]

 

[IF THE SECURITY IS TO BE A GLOBAL SECURITY, INSERT
-- UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY AS REFERRED
TO IN THE INDENTURE HEREINAFTER REFERENCED AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL
IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.]

 

SONOCO PRODUCTS COMPANY

2.850% Notes due 2032

 

	 	 	 	 	 	$[●]

 

	NO. 2032-[●]	CUSIP 835495
AP7

 

SONOCO PRODUCTS COMPANY, a corporation duly organized
and existing under the laws of the State of South Carolina (herein called the “Company”, which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal of [●] HUNDRED MILLION DOLLARS ($[●],000,000) on February 1, 2032, and to pay interest thereon from January
21, 2022, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on February
1 and August 1 in each year, commencing August 1, 2022, at the rate of 2.850% per annum, until the principal hereof is paid or made available
for payment (assuming a 360-day year consisting of twelve 30-day months). The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January
15 or July 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities
of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

    C-1

     

    

 

Payment of the principal of (and premium, if any)
and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the United States, in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register, or by wire transfer to the Person entitled thereto.

 

Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.

 

Unless the certificate of authentication hereon
has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

 

    C-2

     

    

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed and attested.

 

Dated: [●]

 

	 	 	 	SONOCO PRODUCTS COMPANY
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	By:	 
	Attest:	 	 	 	Name:	 
	 	Secretary	 	 	Title:	 

 

    C-3

     

    

 

CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture.

 

	 	REGIONS BANK, As Trustee
	 	 	 
	 	 	 
	 	By:	 
	Date: [●]	 	Authorized Officer

 

    C-4

     

    

 

[FORM OF REVERSE OF 2032 NOTE]

SONOCO PRODUCTS COMPANY

 

2.850% Notes due 2032

 

1.       This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of June 15, 1991, as supplemented by a Sixth Supplemental Indenture, dated as
of January 21, 2022 (as so supplemented, herein called the “Indenture”), between the Company and Regions Bank (as successor
to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A. and as successor to the
Bank of New York), which was successor in interest to Wachovia Bank of North Carolina, National Association), as successor trustee (herein
called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof, which series is initially limited in aggregate principal
amount to $500,000,000; provided that the Company may from time to time or at any time, without the consent of Holders of the Securities
of this series, issue additional Notes as provided in the Indenture. Such additional Notes shall increase the aggregate principal amount
of, and shall be consolidated and form a single series with, the Notes.

 

2.       At
any time prior to November 1, 2031 (the “Par Call Date”), the Securities will be redeemable in whole at any time or in part
from time to time, at the Company’s option, at a redemption price equal to the greater of (i) 100% of the principal amount of the
Securities to be redeemed, or (ii) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the redemption date (assuming the Securities to be redeemed matured on the Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, less (b) interest accrued to the redemption
date.

 

In addition, at any time on or after the Par Call
Date, the Securities will be redeemable at any time or from time to time, in whole or in part, at the Company’s option, at a redemption
price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest on the Securities, calculated
assuming a 360-day year consisting of twelve 30-day months, to, but not including, the redemption date.

 

“Treasury Rate” means, with respect to any redemption date,
the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the Company
after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of
Governors of the Federal Reserve System), on the third Business Day preceding the applicable redemption date based upon the yield or yields
for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors
of the Federal Reserve System designated as “Selected Interest Rates (Daily) — H.15” ​(or
any successor designation or publication) (“H.15”) under the caption “U.S. government securities — Treasury
constant maturities — Nominal” ​(or any successor caption or heading). In determining
the Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal
to the period from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury
constant maturity on H.15 exactly equal to the Remaining Life, the two yields — one yield corresponding to the Treasury
constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life — and shall interpolate to the Par Call Date on a straight-line basis (using the actual
number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity
on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining
Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity
date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the applicable
redemption date.

 

    C-5

     

    

 

If on the third Business Day preceding the applicable
redemption date H.15 is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such redemption date of the
United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United
States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date
equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the
Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there
are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting
the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United
States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury
securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the
semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices
(expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security,
and rounded to three decimal places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. The Trustee shall have no
obligation to verify or confirm any such calculation.

 

Notice of any optional redemption will be mailed
or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but
not more than 60 days before the redemption date to each Holder of the Securities to be redeemed.

 

In the case of a partial redemption, selection
of the Securities for redemption will be made pro rata, by lot or such other method as the Trustee in its sole discretion deems appropriate
and fair. No Securities of a principal amount of $2,000 or less will be redeemed in part. If any Securities are to be redeemed in part
only, the notice of redemption that relates to the Securities will state the portion of the principal amount of the Securities to be redeemed.
New Securities in a principal amount equal to the unredeemed portion of the Securities will be issued in the name of the Holder of the
Securities upon surrender for cancellation of the original Securities. For so long as the Securities are held by DTC (or another depositary),
the redemption of the Securities shall be done in accordance with the policies and procedures of the depositary. Unless the Company defaults
in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Securities or the portions
of the Securities called for redemption.

 

    C-6

     

    

 

3.       In
the event that (a) the transactions contemplated by the Equity Purchase Agreement and Agreement and Plan of Merger, dated as of December
19, 2021 (the “Ball Metalpack Agreement”), among the Company, Magnet Merger Sub LLC, PE Spray Holdings, L.P., Ball Metalpack
Holding, LLC, and Platinum Equity Advisors, LLC are not consummated on or before June 20, 2023 (the “Outside Date”) or
(b) at any time prior to the Outside Date, the Ball Metalpack Agreement is terminated (either such event being a “Special Mandatory
Redemption Event”), the Company shall redeem the Securities (the “Special Mandatory Redemption”) at the Special Mandatory
Redemption Price. The “Special Mandatory Redemption Price” shall be a price equal to 101% of the principal amount of the Securities,
plus accrued and unpaid interest thereon to, but excluding, the Special Mandatory Redemption Date (as defined below) (subject to the right
of Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date.

 

Notice of the occurrence of a Special Mandatory
Redemption Event shall be delivered by the Company (a “Special Mandatory Redemption Notice”) to the Trustee within three Business
Days following the occurrence of a Special Mandatory Redemption Event and at least five Business Days prior to the anticipated Special
Mandatory Redemption Date. Concurrently with the delivery of the Special Mandatory Redemption Notice, the Company shall provide the Trustee
with a notice to the Holders of the Securities that a Special Mandatory Redemption is to occur and request the Trustee to, at the Company’s
expense, deliver (in accordance with the procedures of DTC) such notice; provided, however, that the Special Mandatory Redemption Notice
and notice to Holders will be provided to the Trustee no less than three Business Days prior to the date that such notice is to be delivered
to Holders, or such shorter time as the Trustee may agree. Within three Business Days (or such other minimum period as may be required
by DTC) after the Trustee’s delivery of such notice of a Special Mandatory Redemption Event, the Company shall complete the Special
Mandatory Redemption (the date of such redemption, the “Special Mandatory Redemption Date”).

 

On the Business Day prior to the Special Mandatory
Redemption Date, the Company shall deposit with the Trustee any amounts necessary to fund the redemption of the Securities at the Special
Mandatory Redemption Price.

 

The Trustee shall use such amounts on deposit to
pay the Special Mandatory Redemption Price on the Special Mandatory Redemption Date, in accordance with the applicable procedures of DTC.

 

The provisions of this paragraph 3 may not be waived
or modified without the written consent of all Holders of the Securities.

 

    C-7

     

    

 

4.       Upon
the occurrence of a Change of Control Repurchase Event (as defined in the Indenture), each Holder of the Securities will have the right
to require the Company to redeem the Securities on the terms and conditions set forth in the Indenture.

 

5.       If
an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture.

 

6.       The
Indenture contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants
upon compliance by the Company with certain conditions, set forth therein, which provisions apply to the Securities of this series.

 

7.       The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company
and the Trustee with the consent of the Holders of 66 2/3% in principal amount of the Securities at the time Outstanding of each series
to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities
of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver
by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

8.       No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

 

9.       As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in
form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

10.       The
Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000
in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

    C-8

     

    

 

11.       No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

 

12.       Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

13.       All
capitalized terms used but not defined in this Security which are defined in the Indenture shall have the meanings assigned to them in
the Indenture.

 

14.       The
Securities of this series are not subject to any sinking fund.

 

15.       The
Securities of this series shall be governed by and construed in accordance with the laws of the State of New York.

 

[BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

 

    C-9

     

    

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Security purchased
by Sonoco Products Company pursuant to Section 2.7 (Change of Control Repurchase Event) of the Indenture, check the box below:

 

[   ] Section 2.7

 

If you want to elect to have only part of the Security
purchased by Sonoco Products Company pursuant to Section 2.7 of the Indenture, state the amount you elect to have purchased:

 

$______________

 

	Date: 	 	 	Your Signature:	 
	 	 	 	(Sign exactly as your name appears on the Security)

 

Tax Identification Number: ______________

 

Signature guarantee: ____________________

 

(Signature must be guaranteed by a participant in
a recognized signature guarantee medallion program)

 

    C-10

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