Document:

Exhibit 10.3

 

PRIVATE PLACEMENT WARRANTS PURCHASE
AGREEMENT

 

THIS PRIVATE PLACEMENT
WARRANTS PURCHASE AGREEMENT, dated as of [__], 2021 (as amended, supplemented or otherwise modified from time to time, this “Agreement”),
is entered into by and between Trine II Acquisition Corp., a Cayman Islands exempted company (the “Company”),
and Robin Trine II LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS, the Company
intends to consummate an initial public offering of the Company’s units (the “Public Offering”),
each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, a “Share”),
and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of
$11.50 per Share, as set forth in the Company’s Registration Statement on Form S-1, filed with the U.S. Securities and Exchange
Commission (the “SEC”), File Number 333-253232 (the “Registration Statement”),
under the Securities Act of 1933, as amended (the “Securities Act”).

 

WHEREAS, the Purchaser
has agreed to purchase an aggregate of 13,600,000 warrants (or up to 15,400,000 warrants if the underwriter in the Public Offering
exercises its option to purchase additional units in full) (the “Private Placement Warrants”), each Private
Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share, at a price of $1.00 per
warrant, subject to adjustment.

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1. Authorization,
Purchase and Sale; Terms of the Private Placement Warrants.

 

A. Authorization
of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchaser.

 

B. Purchase
and Sale of the Private Placement Warrants.

 

(i) On
the date of the consummation of the Public Offering (the “IPO Closing Date”), the Company shall issue
and sell to the Purchaser, and the Purchaser shall purchase from the Company, 13,600,000 Private Placement Warrants at a price
of $1.00 per warrant for an aggregate purchase price of $13,600,000 (the “Purchase Price”). The Purchaser
shall pay the Purchase Price in accordance with the Company’s wiring instructions by wire transfer of immediately available
funds in the following amounts: (i) $7,600,000 to the Company at a financial institution to be chosen by the Company; and (ii)
$6,000,000 to the trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee (the “Trust
Account”), in each case, at least one (1) business day prior to the IPO Closing Date. On the IPO Closing Date, subject
to the receipt of funds pursuant to the immediately preceding sentence, the Company shall, at its option, deliver a certificate
evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser
or effect such delivery in book-entry form.

 

     

     

    

 

(ii) On
the date of the closing of the option to purchase additional units, if any, in connection with the Public Offering or on such earlier
time and date as may be mutually agreed by the Purchaser and the Company (the “Option Closing Date” and,
each Option Closing Date (if any) and the IPO Closing Date, a “Closing Date”), the Company shall issue
and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to 1,800,000 Private Placement Warrants (or, to
the extent the option to purchase additional units is not exercised in full, a lesser number of Private Placement Warrants in proportion
to the portion of the option that is exercised) at a price of $1.00 per warrant for an aggregate purchase price of up to $1,800,000
(the “Option Purchase Price”). The Purchaser shall pay the Option Purchase Price in accordance with the
Company’s wiring instructions by wire transfer of immediately available funds to the Trust Account at least one (1) business
day prior to the Option Closing Date. On the Option Closing Date, subject to the receipt of funds pursuant to the immediately preceding
sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased on such date
duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

C. Terms
of the Private Placement Warrants.

 

(i) Each
Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant
agent on the IPO Closing Date in connection with the Public Offering (the “Warrant Agreement”).

 

(ii) On
the IPO Closing Date, the Company and the Purchaser shall enter into a registration and shareholder rights agreement (the “Registration
and Shareholder Rights Agreement”), pursuant to which the Company will grant certain registration rights to the Purchaser
relating to the Private Placement Warrants and the Shares underlying the Private Placement Warrants.

 

Section 2. Representations
and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement
and purchase the Private Placement Warrants, the Company hereby represents and warrants to the Purchaser (which representations
and warranties shall survive each Closing Date) that:

 

A. Incorporation
and Corporate Power. The Company is an exempted company duly incorporated, validly existing and in good standing under the
laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.

 

    2

     

    

 

B. Authorization;
No Breach.

 

(i) The
execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company
as of each Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding
in equity or law). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement,
the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their
terms.

 

(ii) The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of and compliance
with the respective terms hereof and thereof by the Company, do not and will not as of each Closing Date (a) conflict with or result
in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien,
security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of or
(e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any
court or administrative or governmental body or agency pursuant to the memorandum and articles of association of the Company (in
effect on the date hereof or as may be amended, supplemented or otherwise modified prior to completion of the Public Offering)
or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to
which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C. Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement and the
amended and restated memorandum and articles of association of the Company, and upon registration in the Company’s register
of members, the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued as fully paid and
non-assessable. On the date of issuance of the Private Placement Warrants, the Shares issuable upon exercise of the Private Placement
Warrants shall have been reserved for issuance in accordance with the terms of this Agreement. Upon issuance in accordance with,
and payment pursuant to, the terms hereof and the Warrant Agreement, and upon registration in the Company’s register of members,
the Purchaser will have good title to the Private Placement Warrants purchased by it and the Shares issuable upon exercise of such
Private Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions
hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws
and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

D. Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.

 

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E. Regulation
D Qualification. Neither the Company nor, to its actual knowledge, any of its affiliates, members, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule
506(d) of Regulation D under the Securities Act.

 

Section 3. Representations
and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement
and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company
(which representations and warranties shall survive each Closing Date) that:

 

A. Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B. Authorization;
No Breach.

 

(i) This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii) The
execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
does not and shall not as of each Closing Date (a) conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance
upon the Purchaser’s equity or assets under, (d) result in a violation of or (e) require authorization, consent, approval,
exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency
pursuant to the Purchaser’s organizational documents in effect on the date hereof or as may be amended, supplemented or otherwise
modified prior to completion of the contemplated Public Offering, or any material law, statute, rule or regulation to which the
Purchaser is subject, or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any
filings required after the date hereof under federal or state securities laws.

 

C. Investment
Representations.

 

(i) The
Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”) for its own account, for investment purposes only
and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii) The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D and has
not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

 

(iii) The
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

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(iv) The
Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502(c) under the Securities Act.

 

(v) The
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi) The
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on
or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii) The
Purchaser understands that (a) the Securities have not been and are not being registered under the Securities Act or any state
securities laws, and may not be offered for sale, sold, assigned or transferred, unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom, and (b) except as specifically set forth in the Registration and Shareholder
Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities
Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser
understands that the SEC has taken the position that promoters or affiliates of a blank check company and their transferees, both
before and after an initial business combination, are deemed to be “underwriters” under the Securities Act when reselling
the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available
for resale transactions of the Securities despite technical compliance with the requirements of Rule 144 adopted pursuant to the
Securities Act, and the Securities can be resold only through a registered offering or in reliance upon another exemption from
the registration requirements of the Securities Act.

 

(viii) The
Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities. The Purchaser can afford a complete loss of its investments in the Securities.

 

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(ix) The
Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the Warrant
Agreement.

 

Section 4. Conditions
of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for
the Private Placement Warrants are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as
of such Closing Date as though then made.

 

B. Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Company on or before such Closing Date.

 

C. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D. Warrant
Agreement and Registration and Shareholder Rights Agreement. The Company shall have entered into the Warrant Agreement and
the Registration and Shareholder Rights Agreement, in each case, on terms satisfactory to the Purchaser.

 

Section 5. Conditions
of the Company’s Obligations. The obligations of the Company to the Purchaser under this
Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and
as of such Closing Date as though then made.

 

B. Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C. Corporate
Consents. The Company shall have obtained the consent of the Company’s board of directors authorizing the execution,
delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants
hereunder.

 

D. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

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E. Warrant
Agreement. The Company shall have entered into the Warrant Agreement.

 

F. Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchaser to affiliates thereof (including, without limitation one or more of its members).

 

G. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

H. Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement. Signatures to this Agreement transmitted
via facsimile or electronic mail shall be valid and effective to bind the party so signing.

 

I. Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

J. Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall
be construed in accordance with the internal laws of the State of New York.

 

K. Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
the parties hereto.

 

[Signature page follows]

 

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

 

	 	COMPANY:
	 	 
	 	TRINE II ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name: Pierre M. Henry
	 	 	Title: Chief Executive Officer
	 	 	 
	 	PURCHASER:
	 	 
	 	ROBIN TRINE II LLC
	 	 	 
	 	By:	                
	 	 	Name: Pierre M. Henry
	 	 	Title: Managing Member

 

[Signature Page to Private Placement
Warrants Purchase Agreement—Trine II Acquisition Corp.]EX-10.1

 Exhibit 10.1 
  

 
  

INCREMENTAL FACILITY AMENDMENT 

by and among 
 GRAPHIC PACKAGING
INTERNATIONAL, LLC, 
 as Borrower, 

THE GUARANTORS PARTY HERETO, 
 THE
INCREMENTAL TERM A-4 LENDERS PARTY HERETO 
 and 

BANK OF AMERICA, N.A., 
 as
Administrative Agent 
 Dated as of October 6, 2021 

$400,000,000 INCREMENTAL TERM FACILITY 
  

 
  

 INCREMENTAL FACILITY AMENDMENT 

This Incremental Facility Amendment (this “Agreement”), dated as of October 6, 2021, is made by and among GRAPHIC
PACKAGING INTERNATIONAL, LLC, a Delaware limited liability company (the “Borrower”), the Guarantors signatory hereto, the Lenders party hereto under the Incremental Term A-4 Facility
(defined below) (in such capacity, the “Incremental Term A-4 Lenders”), BANK OF AMERICA, N.A., a national banking association organized and existing under the laws of the United States
(“Bank of America”), in its capacity as Administrative Agent under the Credit Agreement described below (in such capacity, the “Administrative Agent”) and acknowledged and agreed to by GRAPHIC PACKAGING HOLDING
COMPANY, a Delaware corporation (“Holding”). 
 RECITALS: 

A.    The Borrower, the other borrowers from time to time party thereto, the Administrative Agent, and the banks and other
financial institutions from time to time party thereto (the “Lenders”) have entered into that certain Fourth Amended and Restated Credit Agreement dated as of April 1, 2021 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”). Capitalized terms used in this Agreement not otherwise defined herein shall have the respective meanings given thereto in the Credit Agreement. 

B.    The Borrower, Holding and the Guarantors have entered into that certain Fourth Amended and Restated Guarantee and
Collateral Agreement dated as of April 1, 2021 (as in effect on the date hereof, the “Guarantee and Collateral Agreement”) (i) pursuant to which the Guarantors have guaranteed the payment and performance of the obligations of
the Borrower and the other borrowers from time to time party thereto under the Credit Agreement and the other Loan Documents, and (ii) which secures the Obligations of the Loan Parties under the Credit Agreement and other Loan Documents. 

C.    The Borrower has notified the Administrative Agent that Graphic Packaging International Europe Holdings B.V., a
Netherlands private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) (“GPI Europe Holdings”), or an Affiliate thereof, proposes to acquire (the “AR Packaging Acquisition”)
all of the outstanding equity interests of AR Packaging Group AB, a Swedish limited liability company with reg. no. 559062-9373 (the “Target”) pursuant to that certain Share Purchase Agreement dated as of May 12, 2021 (the
“AR Packaging Purchase Agreement”) between GPI Europe Holdings, as buyer, Sarcina Holdings S.a.r.l., a Luxembourg private limited liability company (société à responsabilité limitée)
incorporated under the laws of Luxembourg, and the other shareholders of the Target party thereto. 
 D.    In
connection with the AR Packaging Acquisition, the Borrower has requested that the Incremental Term A-4 Lenders provide a senior incremental term loan facility (the “Incremental Term A-4 Facility”) in an aggregate principal amount of $400,000,000, to consist of a $400,000,000 Incremental Term A-4 Loan (the “Incremental Term A-4 Loan”). The Incremental Term A-4 Facility is to be documented as an incremental term loan tranche under the Credit Agreement pursuant to this Agreement, all as
set forth herein. 
 E.    The Incremental Term A-4 Lenders are willing to
provide the Incremental Term A-4 Facility, on the terms and conditions contained in this Agreement and in subsection 2.6 of the Credit Agreement. 

 In furtherance of the foregoing, subject to the terms and conditions set forth herein and in
reliance upon the representations and warranties set forth herein the parties agree as follows: 

1.    Incremental Term A-4 Facility. 

(a)    Incremental Term A-4 Facility. Pursuant to subsection 2.6 of
the Credit Agreement, the Incremental Term A-4 Facility is hereby established under the Credit Agreement on the terms set forth below. 

(b)    Principal Amount. The aggregate principal amount of the Incremental Term
A-4 Lenders’ Incremental Term Commitments with respect to the Incremental Term A-4 Loan is FOUR HUNDRED MILLION DOLLARS ($400,000,000), and the
principal amount of each Incremental Term A-4 Lender’s Incremental Term Commitment to the Incremental Term A-4 Facility is set forth on Schedule I hereto
(such commitments, the “Incremental Term A-4 Commitments”). The Borrower’s obligations with respect to the Incremental Term A-4 Loans shall
constitute Obligations under the Credit Agreement, and the Incremental Term A-4 Loans will be guaranteed and will rank pari passu in right of payment and security with the Loans outstanding under the
Credit Agreement as of the date hereof. 
 (c)    Availability/Borrowing. The Incremental Term A-4 Commitments shall remain in effect during the period from the Incremental Term A-4 Effective Date to the earliest of (a) January 4, 2022, (b) the Incremental
Term A-4 Funding Date (defined below) and (c) the termination in full of the Incremental Term A-4 Facility (such earliest date, the “Incremental Term A-4 Expiration Date”). The Incremental Term A-4 Loans shall be funded in a single drawing on a Business Day occurring on or before the Incremental Term A-4 Expiration Date (the date on which such Incremental Term A-4 Loans are funded, the “Incremental Term A-4 Funding
Date”) upon (x) the satisfaction of the conditions precedent set forth in Section 4 hereof and (y) the delivery by the Borrower to the Administrative Agent of a duly executed borrowing notice
substantially consistent (where applicable) with Exhibit G (Loan Notice) to the Credit Agreement not later than (x) 1:00 p.m. three (3) Business Days prior to the requested date of Borrowing if the Incremental Term A-4 Loans shall consist of Eurocurrency Loans and (y) 12:00 noon one Business Day prior to the requested date of any Borrowing if the Incremental Term A-4 Loans shall consist
of Base Rate Loans. The obligation of the Incremental Term A-4 Lenders to honor such Request for Credit Extension is subject to the satisfaction or waiver of the conditions precedent set forth in
Section 4 hereof. Any Incremental Term A-4 Commitment not funded by the Incremental Term A-4 Expiration Date shall be terminated. Amounts
borrowed under the Increment Term A-4 Facility that are repaid or prepaid may not be re-borrowed. Each Incremental Term A-4 Loan
shall be advanced in Dollars. 
 (d)    Maturity Date; Repayment; Extension Option. 

(i)    Maturity Date; Repayment. The maturity date for the Incremental Term A-4 Loans shall be the earlier of (A) the date that is fifteen (15) months after the Incremental Term A-4 Funding Date and (B) the Springing Maturity Date
(defined below) (such earlier date, the “Incremental Term A-4 Maturity Date”). The Borrower shall repay in full the unpaid principal amount of the Incremental Term A-4 Loans on the Incremental Term A-4 Maturity Date (or such earlier date on which the Incremental Term A-4 Loans become due and
payable pursuant to subsection 9 of the Credit Agreement). 
 (ii)    Springing Maturity.
Notwithstanding anything in this clause (d), if the Borrower issues bonds or other similar notes in a public offering or Rule 144A or other private placement yielding at least $350,000,000 in gross cash proceeds after the Incremental Term A-4 Effective Date and prior to the scheduled Incremental Term A-4 Maturity Date (the date that is five (5) Business Days after the date of any such issuance, the
“Springing Maturity Date”), then the Incremental Term A-4 Maturity Date shall be the Springing Maturity Date. 

  
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 (iii)    Extension of Incremental Term A-4 Maturity Date. 
 (A)    Requests for Extension. The
Borrower may, by notice to the Administrative Agent (who shall promptly notify the Incremental Term A-4 Lenders) not earlier than 60 days and not later than 35 days prior to the Incremental Term A-4 Maturity Date hereunder (the “Existing Term A-4 Maturity Date”), make a single request hereunder that each Incremental Term
A-4 Lender extend such Lender’s Incremental Term A-4 Maturity Date for twelve (12) months from the Existing Term A-4
Maturity Date. 
 (B)    Incremental Term A-4 Lender Elections
to Extend. Each Incremental Term A-4 Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Term A-4 Extension Notice Date”) that is 20 days prior to the Existing Term A-4 Maturity Date, advise the Administrative Agent whether or not such Incremental Term A-4 Lender agrees to such extension (and each Incremental Term A-4 Lender that determines not to so extend its Existing Term A-4
Maturity Date (a “Non-Extending Term A-4 Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event
no later than the Term A-4 Extension Notice Date) and any Incremental Term A-4 Lender that does not so advise the Administrative Agent on or before the Term A-4 Extension Notice Date shall be deemed to be a Non-Extending Term A-4 Lender. The election of any Incremental Term A-4 Lender to agree to such extension shall not obligate any other Incremental Term A-4 Lender to so agree. 

(C)    Notification by Administrative Agent. The Administrative Agent shall notify the Borrower of
each Lender’s determination under this Section no later than the date 15 days prior to the Existing Term A-4 Maturity Date (or, if such date is not a Business Day, on the next preceding Business Day).

 (D)    Conditions to Effectiveness of Extensions. As a condition precedent to such extension,
the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated as of the Existing Term A-4 Maturity Date (in sufficient copies for each Incremental Term A-4 Lender that has agreed to extend their Incremental Term A-4 Maturity Date (each, an “Extending Term A-4 Lender”)
signed by a Responsible Officer of the Borrower (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such extension and (ii) certifying that, before and after giving effect to such extension,
(A) the representations and warranties contained in Section 5 of the Credit Agreement and the other Loan Documents are true and correct on and as of the Existing Term A-4
Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this
Section 1(d), the representations and warranties contained in subsection 5.1 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to subsection 7.1(a) and
(b), respectively, and (B) no Default or Event of Default exists or would result therefrom. In addition, on the Incremental Term A-4 Maturity Date of each
Non-Extending Term A-4 Lender, the Borrower shall prepay any Incremental Term A-4 Loans outstanding on such date (and pay any
additional amounts required pursuant to Section 4.10). 

(E)    Amendment. In connection with any extension of the Incremental Term A-4 Maturity Date, the Borrower, the Administrative Agent and each Extending Term A-4 Lender may make such amendments to this Agreement and the Credit Agreement as the
Administrative Agent determines to be reasonably necessary to evidence the extension. This Section 1(d) shall supersede any provisions in subsection 11.1 in the Credit Agreement to the contrary with respect to the
Incremental Term A-4 Loans. 

  
 3 

 (e)    Interest Rate. The Incremental Term A-4 Loans shall bear interest at a rate equal to (i) the Base Rate plus 0.000%, (ii) the Eurocurrency Rate plus 0.875%, or (iii) the Daily Floating LIBOR Rate plus 0.875%, as selected
by the Borrower. Each Base Rate Loan and Daily Floating LIBOR Rate Loan shall bear interest for each day that it is outstanding at the rate per annum set forth above. Each Eurocurrency Loan shall bear interest for each day during each Interest
Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such Interest Period plus 0.875%. 

(f)    Default Rate. If all or a portion of (i) the principal amount of the Incremental Term A-4 Loans, (ii) any interest payable thereon or (iii) any unused commitment fee or other amount payable under this Agreement or the Credit Agreement shall not be paid when due (whether at the stated
maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum determined in accordance with Section 1(e) of this Agreement as of such date plus an additional margin of 2% per
annum from the date of such non-payment until such amount is paid in full (as well after as before judgment). While any Event of Default specified in subsection 9(f) of the Credit Agreement exists, the
Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at an interest rate per annum determined in accordance with Section 1(e) of this Agreement as of such date plus an
additional margin of 2% per annum to the fullest extent permitted by applicable Laws. In each case, such adjusted rate shall constitute a Default Rate under the Credit Agreement. 

(g)    Interest Payment Dates. 

(i)     As to any Eurocurrency Loan, Interest Payment Dates shall be the last day of each Interest Period
applicable to such Loan and the Termination Date of the Facility under which such Loan was made; provided that if any Interest Period for a Eurocurrency Loan exceeds three months, the respective dates that fall every three months after the
beginning of such Interest Period shall also be Interest Payment Dates. 
 (ii)     As to any Base Rate
Loan or any Daily Floating LIBOR Rate Loan, Interest Payment Dates shall be the first Business Day of each January, April, July and October and the Termination Date of the Facility under which such Loan was made. 

(iii)    Interest shall be payable in arrears on each Interest Payment Date and the Incremental Term A-4 Maturity Date, commencing with the first such date to occur after the Incremental Term A-4 Funding Date; provided that the interest accruing pursuant to
Section 1(f) of this Agreement shall be payable from time to time on demand. 

(h)    Prepayment; Indemnity. 

(i)    The Borrower may any time and from time to time, upon notice to the Administrative Agent pursuant to
delivery to the Administrative Agent of a duly executed notice of loan prepayment substantially consistent (where applicable) with Exhibit L (Notice of Loan Prepayment) to the Credit Agreement, prepay the Incremental Term A-4 Loans made to it, in whole or in part, without penalty or premium (subject to subsection 4.10 of the Credit Agreement); provided that such notice must be received by the Administrative Agent three
(3) Business Days prior to the date fixed for such prepayment. Each such notice shall specify the date and amount of prepayment and the interest to be paid on the prepayment date with respect to such principal amount being prepaid. Upon the
receipt of any such notice the Administrative Agent shall promptly notify 

  
 4 

 
the Incremental Term A-4 Lenders thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified
therein, together with the amounts due pursuant to Section 4.10 of the Credit Agreement and accrued interest to such date on the amount prepaid. Notwithstanding the foregoing, the Borrower may rescind or postpone any notice
of prepayment under this clause (h)(i) if such prepayment would have resulted from a refinancing of the Incremental Term A-4 Loans or other transaction, which refinancing or other transaction shall not have
been consummated or shall have otherwise been delayed. Partial prepayments pursuant to this clause (h) shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. 

(ii)    In connection with any mandatory prepayment under subsection 4.2(b) of the Credit Agreement
and in accordance with subsection 4.2(c) of the Credit Agreement, the Borrower shall ensure (whether through an additional optional prepayment or otherwise) that the Incremental Term A-4 Loans are
prepaid on a ratable basis with the outstanding Term A-1 Loans, Term A-2 Loans and Term A-3 Loans pursuant to subsection
4.2(d) of the Credit Agreement; it being understood that the amount of the prepayment required by subsection 4.2(b) to be applied to the Incremental Term A-4 Loans shall be reduced by the portion of
Net Cash Proceeds required to make corresponding mandatory prepayments of any Term A-1 Loans, any Term A-2 Loans, any Term A-3
Loans, any pari passu Incremental Term Loans and any other pari passu Indebtedness incurred pursuant to subsection 8.2(e)(i) or (e)(ii) of the Credit Agreement then outstanding that requires such corresponding mandatory
prepayment; provided that (x) such prepayment of the Incremental Term A-4 Loans shall be applied to the principal installment payment of the Incremental Term
A-4 Loan due at maturity and (y) any such mandatory prepayment shall be subject to subsection 4.2(g) of the Credit Agreement. Notwithstanding anything to the contrary in this Agreement or in the
Credit Agreement, Section 4.10 of the Credit Agreement shall apply to any mandatory prepayment of any portion of the Incremental Term A-4 Loans pursuant to subsection 4.2(b) of
the Credit Agreement and to any payment of any portion of the Incremental Term A-4 Loans following an acceleration of the Loans pursuant to Section 9 of the Credit Agreement. 

(i)    Use of Proceeds. The proceeds of the Incremental Term A-4 Loans
shall be used within five (5) Business Days of the Incremental Term A-4 Funding Date by the Borrower to (A) finance a portion of the AR Packaging Acquisition and (B) to pay or reimburse fees,
commissions and expenses in connection therewith. 
 (j)    Unused Commitment Fee. In consideration of the
Incremental Term A-4 Facility, the Borrower agrees to pay to the Incremental Term A-4 Lenders, subject to adjustment as provided in subsection 4.6(e) of the
Credit Agreement, an unused commitment fee for the period from and including the 31st day following the Incremental Term A-4 Effective Date through the
Incremental Term A-4 Expiration Date, in an amount equal to 0.20% per annum on the daily amount of the outstanding Incremental Term A-4 Commitments, and such amounts
shall be payable quarterly in arrears on the second Business Day of each January, April, July and October and on the Incremental Term A-4 Expiration Date. 

(k)    Incremental Facility Amendment. The parties hereto agree and acknowledge that for all purposes (i) this
Agreement shall be considered an “Incremental Facility Amendment”, (ii) the Incremental Term A-4 Facility provided herein shall be considered an “Incremental Term Facility”, (iii) each
Incremental Term A-4 Lender shall be considered an “Incremental Term Lender”, (iv) the borrowings to be made hereunder shall be considered an “Incremental Term Borrowing”, (v) the
commitment of each Incremental Term A-4 Lender hereunder to make the Incremental Term A-4 Loan pursuant to the terms hereof shall be considered an “Incremental Term
Commitment” and (vi) each Incremental Term A-4 Loan 

  
 5 

 
made pursuant hereto shall be considered an “Incremental Term Loan” and a “Term Loan”, in each case as such terms are defined in and used in the Credit Agreement. Furthermore,
(x) the parties hereto agree and acknowledge that for all purposes, (i) the Obligations in respect of the Incremental Term A-4 Loan as provided herein shall be considered “Credit Agreement
Obligations” and (ii) the Incremental Term A-4 Facility as provided herein shall be considered one of the “Credit Facilities”, in each case as such terms are defined in the Intercreditor
Agreement, and (y) the parties hereto agree and acknowledge that for all purposes the Incremental Term A-4 Facility as provided herein constitutes a “Credit Facility” under and as defined in the
Indentures (as defined in the Credit Agreement). 
 (l)    Promissory Note. The Borrower agrees that, in order to
evidence a Incremental Term A-4 Lender’s Incremental Term A-4 Loan, the Borrower will execute and deliver to any requesting Incremental Term A-4 Lender a promissory note in form and substance as reasonably satisfactory to the Administrative Agent, with appropriate insertions as to payee, date and principal amount, payable to such Incremental Term A-4 Lender and in a principal amount equal to the unpaid principal amount of the Incremental Term A-4 Loan made by such Incremental Term
A-4 Lender to the Borrower. 
 (m)    Required Incremental Term A-4 Facility Lenders. 
 (i)    The following definition of
“Required Term A-4 Lenders” shall be added to subsection 1.1 of the Credit Agreement. 

“Required Term A-4 Lenders”: as of any date of determination, Incremental Term A-4 Lenders holding more than 50% of the total outstanding Incremental Term A-4 Commitments or the Incremental Term A-4 Loans on such
date, as applicable; provided that the portion of Incremental Term A-4 Commitments or Incremental Term A-4 Loans held by any Defaulting Lender shall be excluded
for purposes of making a determination of Required Term A-4 Lenders. 

(ii)    The definition of “Required Facility Lenders” in the Credit Agreement shall be amended to
include the following at the end thereof: “and (g) for the Incremental Term A-4 Facility, the Required Term A-4 Lenders”. 

(iii)    Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with
respect to the Credit Agreement shall be restricted as set forth in the definitions of “Required Term A-4 Lenders”. 

(iv)    No waiver and no amendment, supplement or modification of the Credit Agreement nor any other Loan
Document shall reduce the percentages specified in the definition of “Required Term A-4 Lenders,” without the written consent of each Incremental Term A-4
Lender (which reduction shall not also require the vote of the Required Lenders). 
 (v)    Subsection
11.1(d) of the Credit Agreement is amended to add reference to “or the Required Term A-4 Lenders” after the reference to “the Required Incremental Euro Term Facility Lenders” in the 6th line thereof. 

  
 6 

 2.    Amendments to Credit Agreement. To the extent
necessary in connection with the Incremental Term A-4 Facility, and in accordance with subsection 2.6 thereof, the Credit Agreement is hereby deemed amended pursuant to the terms provided above
(including Section 1(k)) to incorporate the Incremental Term A-4 Facility as an Incremental Term Facility. The amendments to the Credit Agreement are limited to the extent
specifically described herein and no other terms, covenants or provisions of the Credit Agreement are intended to be affected hereby. This Agreement is not a novation of the Credit Agreement, or of any credit facility, guaranty, pledge, security
interest or lien provided thereunder or in respect thereof. 
 3.    Effectiveness of Agreement and Incremental
Term A-4 Commitments. This Agreement, including the amendments provided herein, the obligation of each Incremental Term A-4 Lender to provide the Incremental
Term A-4 Facility as provided herein shall become effective on the first Business Day on which the following conditions are satisfied or waived (the “Incremental Term
A-4 Effective Date”): 
 (a)    Documents. The Administrative
Agent shall have received 
 (i)    counterparts of this Agreement, duly executed by the Borrower, the
Administrative Agent, each Guarantor, Holdings, and each Incremental Term A-4 Lender; 

(ii)    a promissory note in form and substance as reasonably requested by any Incremental Term A-4 Lender executed by the Borrower in favor of such Incremental Term A-4 Lender; and 

(iii)    a certificate, dated the Incremental Term A-4 Effective
Date and signed by a Responsible Officer of the Borrower, certifying that, before and after giving effect to the Incremental Term A-4 Facility, (A) the Loan Parties are in compliance with the conditions
set forth in subsections 6.2(a) and (b) of the Credit Agreement, it being understood that all references to “the date of such Borrowing” in such subsection 6.2 of the Credit Agreement shall be deemed to refer to
the Incremental Term A-4 Effective Date, (B) the Borrower shall be in Pro Forma Compliance (assuming the Incremental Term A-4 Facility is fully drawn), (C) the
Incremental Term A-4 Facility is being incurred pursuant solely to clause (a)(ii) of subsection 2.6 of the Credit Agreement and not the Incremental Fixed Amount Basket, (D) the Consolidated Senior
Secured Leverage Ratio (after giving pro forma effect to the incurrence of the Incremental Term A-4 Facility assuming such facility is fully drawn) is less than or equal to 3.50 to 1.00, and (E) the
Incremental Term A-4 Facility is being incurred utilizing the greater of $400 million and 40% of EBITDA inside maturity basket set forth in clause (c)(iii)(B) of Subsection 2.6 of the Credit
Agreement. 
 (b)    Legal Opinions. The Administrative Agent shall have received the following executed legal
opinions (each in form and substance reasonably satisfactory to the Administrative Agent): 
 (i)    the
executed legal opinion of Alston & Bird LLP, special New York counsel to each of Intermediate Holding, the Borrower and the other Loan Parties; 

(ii)    the executed legal opinion of Lauren S. Tashma, counsel to each of Intermediate Holding, the
Borrower and certain other Loan Parties; and 
 (iii)    the executed legal opinions of special counsel
to the Loan Parties in each jurisdiction where a Guarantor is organized that is not included above. 

  
 7 

 (c)    Corporate Proceedings of the Borrower and the Guarantors.
The Administrative Agent shall have received a copy of the resolutions, in form and substance reasonably satisfactory to the Administrative Agent, of the board of directors or comparable body of the Borrower and each Guarantor authorizing
(i) the execution, delivery and performance of this Agreement, the promissory notes and the other Loan Documents to be executed by such Loan Party in connection with this Agreement, and (ii) the use of the Credit Extensions to the Borrower
to occur on the Incremental Term A-4 Funding Date, in each case certified by the Secretary or an Assistant Secretary (or other individual providing similar duties) of such Loan Party as of the Incremental Term
A-4 Effective Date, which certificate shall be in form and substance reasonably satisfactory to the Administrative Agent and shall state that the resolutions thereby certified have not been amended, modified
(except as any later such resolution may modify any earlier such resolution), revoked or rescinded and are in full force and effect. 

(d)    Incumbency Certificates. The Administrative Agent shall have received a certificate of the Borrower, dated
as of the Incremental Term A-4 Effective Date, as to the incumbency and signature of the officers of the Borrower executing this Agreement and each other Loan Document, reasonably satisfactory in form and
substance to the Administrative Agent, executed by a Responsible Officer and the Secretary or any Assistant Secretary of the Borrower. 

(e)    Governing Documents. The Administrative Agent shall have received (i) copies of the certificate or
articles of incorporation and by-laws of the Borrower and each Guarantor, certified as of the Incremental Term A-4 Effective Date as complete and correct copies thereof
by the Secretary or an Assistant Secretary (or other individual providing similar duties) of such Loan Party or (ii) certifications of the Secretary or an Assistant Secretary (or other individual providing similar duties) of such Loan Party as
to the absence of any amendment or change to such governing documents since the Effective Date. 
 (f)    KYC
Information. The Administrative Agent and each Incremental Term A-4 Lender shall have received, at least five (5) Business Days prior to the Incremental Term
A-4 Effective Date (or such shorter time as agreed by such Lender), all documentation and other information requested by such Incremental Term A-4 Lender in writing at
least five (5) Business Days prior to such date and required by regulatory authorities under applicable “Know Your Customer” and anti-money laundering rules and regulations, including, without limitation, the USA PATRIOT Act and
beneficial ownership regulations. 
 (g)    Fees and Expenses. All of the fees and expenses payable on the
Incremental Term A-4 Effective Date shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses). 

Without limiting the generality of the provisions of the last paragraph of subsection 10.3 of the Credit Agreement, for purposes of
determining compliance with the conditions specified in this Section 3, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other
matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Incremental Term
A-4 Effective Date specifying its objection thereto. 
 4.    Conditions
to Funding Incremental Term A-4 Loans. The obligation of the Incremental Term A-4 Lenders to fund the Incremental Term
A-4 Loans pursuant to Section 1 hereof is subject to the satisfaction of the following conditions precedent: 

(a)    Representations and Warranties. Each of (a) the Specified Representations and (b) the Specified
Acquisition Agreement Representations (in each case, as defined below) are true and correct in all material respects (or in all respects if otherwise already qualified by materiality or Material Adverse

  
 8 

 
Effect) on and as of such date. For purposes hereof, (x) “Specified Representations” means the representations and warranties (including to the extent incorporated by reference
in other Loan Documents) set forth in Section 5.2(b), Section 5.3(a), the first, third and last sentences of Section 5.4 (but solely as it relates to the execution,
delivery and performance of the documents set forth in Section 3(a)(i) and Section 3(a)(ii) above (collectively, the “Amendment Documents”)),
Section 5.12, Section 5.14, Section 5.15 and Section 5.24, and (y) “Specified Acquisition Agreement Representations” means such
representations and warranties made by the sellers and the Target in the AR Packaging Purchase Agreement as are material to the interests of the Administrative Agent and the Incremental Term A-4 Lenders, but
only to the extent that GPI Europe Holdings or its Affiliates have the right to terminate its or its Affiliates’ obligations under the AR Packaging Purchase Agreement (or the right not to consummate the AR Packaging Acquisition pursuant to the
AR Packaging Purchase Agreement) as a result of a failure of such representations and warranties to be true and correct. 

(b)    No Specified Default. No Event of Default under subsections 9(a) or (f) of the Credit
Agreement shall have occurred and be continuing on such date or after giving effect to the Credit Extensions requested to be made on such date. 

(c)    Request for Credit Extension. The Administrative Agent shall have received a Request for Credit Extension in
accordance with the requirements set forth herein and in the Loan Documents. 
 (d)    AR Packaging Acquisition.
The AR Packaging Acquisition shall have been consummated, or shall be consummated within five (5) Business Days after the funding of the Incremental Term A-4 Loans, in accordance with the terms of the AR
Packaging Purchase Agreement (without giving effect to any amendment, modification, waiver or consent thereunder that is materially adverse to the interests of the Lenders (in their capacities as such) and/or the Administrative Agent, either
individually or in the aggregate). 
 (e)    Fees and Expenses. All of the fees and expenses payable on or prior
to the funding date in respect of the Incremental Term A-4 Facility shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses). 

5.    Consent of the Guarantors. Each Guarantor hereby consents, acknowledges and agrees to the amendments,
agreements and acknowledgements set forth herein and hereby confirms and ratifies in all respects the Guarantee and Collateral Agreement (including without limitation the continuation of such Guarantor’s payment and performance obligations
thereunder upon and after the effectiveness of this Agreement and the amendments, agreements and acknowledgements contemplated hereby, including without limitation, such Guarantor’s payment and performance obligations with respect to the
Incremental Term A-4 Loan made pursuant to the Incremental Term A-4 Facility) and the enforceability of the Guarantee and Collateral Agreement against such Guarantor in
accordance with its terms. Notwithstanding the foregoing, the parties hereto acknowledge and agree that any Liens granted under any Security Documents on any property also granted to or held by the Administrative Agent under any Loan Document shall
be released on any Collateral/Covenant Release Date as provided in the Credit Agreement. 
 6.    Representations
and Warranties. In order to induce the Administrative Agent and the Lenders to enter into this Agreement, each Loan Party represents and warrants to the Administrative Agent and the Lenders as follows: 

(a)    Each of the representations and warranties made by any Loan Party pursuant to the Credit Agreement or any other
Loan Document (or in any amendment, modification or supplement thereto) to which it is a party, and each of the representations and warranties contained in any certificate furnished at 

  
 9 

 
any time by or on behalf of any Loan Party pursuant to the Credit Agreement or any other Loan Document, is (except to the extent that they relate to a particular date, in which case they shall
remain true and correct as of such particular date) true and correct in all material respects (or in all respects if otherwise already qualified by materiality or Material Adverse Effect) on and as of the date hereof as if made on and as of the date
hereof; provided that for purposes of this Section 6(a), the representations and warranties contained in subsection 5.1 of the Credit Agreement shall be deemed to refer to the most recent statements furnished
pursuant to subsection 7.1(a) and (b) of the Credit Agreement, respectively. 
 (b)    The Persons
appearing as Subsidiary Guarantors on the signature pages to this Agreement constitute all Persons who are required to be Subsidiary Guarantors pursuant to the terms of the Credit Agreement and the other Loan Documents. 

(c)    This Agreement has been duly authorized, executed and delivered by Intermediate Holding, the Borrower and the
Subsidiary Guarantors and constitutes a legal, valid and binding obligation of such parties, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar
law affecting creditors’ rights generally. 
 (d)    No Default or Event of Default has occurred and is continuing
or will exist after giving effect to this Agreement and the amendments contemplated hereby. 
 7.    Election and
Consent. The Company has previously made an election to treat the AR Packaging Acquisition as a Limited Conditionality Acquisition, and the Lenders have previously consented to such election, pursuant to that certain Amendment No. 1 to
Fourth Amended and Restated Credit Agreement and Fourth Amended and Restated Guarantee and Collateral Agreement and Incremental Facility Amendment dated as of July 23, 2021. Each Lender party hereto acknowledges and consents to such treatment
of the AR Packaging Acquisition as a Limited Conditionality Acquisition, including without limitation for purposes of determining the financial ratio incurrence test or condition or the compliance with Sections 8.1 or 8.9 and the
implementation of Section 2.6(e). The foregoing consent shall in no way serve to waive compliance with any other terms, covenants or provisions of the Credit Agreement or any other Loan Document, is granted for the limited
purposes set forth herein and shall not be deemed to permanently modify the provisions of the Credit Agreement or any other Loan Document through course of conduct, course of dealing or otherwise. 

8.    Miscellaneous. 

(a)    Entire Agreement. This Agreement, together with all the Loan Documents and the letters executed in connection
with this Agreement (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements
among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise,
condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to
the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Agreement may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with subsection 11.1 of the
Credit Agreement. 
 (b)    Full Force and Effect of Agreement. Except as hereby specifically amended, modified
or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. 

  
 10 

 (c)    Fees and Expenses. The Company shall pay on demand all
reasonable out-of-pocket costs and expenses of the Administrative Agent incurred in connection with the preparation, negotiation, execution, and delivery of this
Agreement and any other documents prepared in connection herewith, including, without limitation, the reasonable fees and disbursements of counsel for the Administrative Agent, in each case, as set forth in subsection 11.5(a) of the Credit
Agreement. 
 (d)    Counterparts. This Agreement may be executed by one or more of the parties to this Agreement
on any number of separate counterparts (including by telecopy), and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by
facsimile or other electronic imaging means (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to this Agreement and/or any document to be signed in connection with this Agreement shall be deemed to include Electronic Signatures or execution in the form of an Electronic Record, and
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 or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act. Each of the Loan Parties agrees that any Electronic Signature or execution in the form of an Electronic Record shall be valid and binding on itself and each of the other parties hereto to the same extent as a manual, original
signature. For purposes hereof, “Electronic Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time. 

(e)    Governing Law; Jurisdiction; Waiver of Jury Trial; Etc; Severability. This Agreement shall be governed by
and construed in accordance with the laws of the State of New York, and shall be further subject to the provisions of subsections 11.12, 11.15 and 11.17 of the Credit Agreement. 

(f)    Enforceability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. 
 (g)    References. All references in any of the
Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as modified hereby and as further amended, supplemented or otherwise modified from time to time, and this Agreement shall constitute a Loan Document. 

(h)    Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Borrower, the
Guarantors, the Administrative Agent, the Incremental Term A-4 Lenders and each of their respective successors, legal representatives, and assignees to the extent such assignees are permitted assignees as
provided in subsection 11.6 of the Credit Agreement. 
 [Remainder of page intentionally left blank; signature pages follow] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be made,
executed and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	BORROWER:
	
	GRAPHIC PACKAGING INTERNATIONAL, LLC
		
	By:	 	 /s/ Stephen R. Scherger

	Name:	 	Stephen R. Scherger
	Title:	 	EVP and Chief Financial Officer
	
	GUARANTORS:
	
	GRAPHIC PACKAGING INTERNATIONAL PARTNERS, LLC
		
	By:	 	 /s/ Stephen R. Scherger

	Name:	 	Stephen R. Scherger
	Title:	 	EVP and Chief Financial Officer
	
	FIELD CONTAINER QUERETARO (USA), L.L.C.
		
	By:	 	 /s/ Stephen R. Scherger

	Name:	 	Stephen R. Scherger
	Title:	 	EVP and Chief Financial Officer

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 Acknowledged and Agreed as of the 

date first set forth above: 
  

			
	GRAPHIC PACKAGING HOLDING COMPANY
		
	By:	 	 /s/ Stephen R. Scherger

	Name:	 	Stephen R. Scherger
	Title:	 	EVP and Chief Financial Officer

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 
			
	ADMINISTRATIVE AGENT:
	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Ronaldo Naval

	Name:	 	Ronaldo Naval
	Title:	 	Vice President

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 
			
	INCREMENTAL TERM A-4 LENDERS:
	
	BANK OF AMERICA, N.A., as an Incremental Term A-4 Lender
		
	By:	 	 /s/ Erron Powers

	Name:	 	Erron Powers
	Title:	 	Director

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as an Incremental Term A-4 Lender
		
	By:	 	 /s/ Andrew Payne

	Name:	 	Andrew Payne
	Title:	 	Managing Director

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, as an Incremental Term A-4 Lender
		
	By:	 	 /s/ Jun Ashley

	Name:	 	Jun Ashley
	Title:	 	Director

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 
			
	MIZUHO BANK, LTD., as an Incremental Term A-4 Lender
		
	By:	 	 /s/ Donna DeMagistris

	Name:	 	Donna DeMagistris
	Title:	 	Authorized Signatory

  
 Graphic Packaging
International, LLC 
 Incremental Facility Amendment (Term A-4 Loans) 

Signature Page 

 Schedule I 

Incremental Term A-4 Commitments and Applicable Percentages 

 

									
	 Incremental Term A-4
Lender
	  	Incremental Term A-4
Commitment	 	  	Applicable
Percentage	 
	 Bank of America, N.A.
	  	$	130,000,000.00	 	  	 	32.500000000	% 
	 Wells Fargo Bank, National Association
	  	$	90,000,000.00	 	  	 	22.500000000	% 
	 Sumitomo Mitsui Banking Corporation
	  	$	90,000,000.00	 	  	 	22.500000000	% 
	 Mizuho Bank, Ltd.
	  	$	90,000,000.00	 	  	 	22.500000000	% 
		  	  
	  
	 	  	  
	  
	 
	 Total:
	  	$	400,000,000.00	 	  	 	100.000000000	%

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