Document:

exv10w2

Exhibit 10.2

THIRD AMENDMENT TO THE

GRAPHIC PACKAGING RETIREMENT PLAN

(As Amended and Restated Effective January 1, 2009 and Reflecting Amendments

Adopted Through December 31, 2009)

          WHEREAS, the Compensation and Benefits Committee of the Board of Directors of Graphic
Packaging Holding Company has delegated to the Retirement Committee of Graphic Packaging
International, Inc. (the “Retirement Committee”) the responsibility to make certain amendments to
the Graphic Packaging Retirement Plan (the “Plan”); and

          WHEREAS, the Retirement Committee deems it desirable to amend the Plan to implement the
retirement strategy approved by the Compensation and Benefits Committee at its meetings held on
November 17, 2010 and February 17, 2011, and to make certain other amendments;

          NOW, THEREFORE, BE IT RESOLVED, that the Plan be, and it hereby is, amended, effective as of
the dates indicated below, in the following respects:

	1.	 	The Table of Contents of Appendix 1 is amended, effective as of June 30, 2011, by referencing
the addition of a new Section 5.7 in Article 5 after Section 5.6 to read as follows:

	 	 	“5.7 Cessation of Benefit Accruals for Non-Grandfathered Members”

	2.	 	Section 1.1 of Appendix 1 is further amended, effective as of July 1, 2011, by adding a new
paragraph (f) to read as follows:

	 	“(f)	 	 Notwithstanding the above, a Non-Grandfathered Member’s Average Final Salary
shall be determined as of December 31, 2011, or as of his retirement or termination of
employment, if earlier. Notwithstanding the cessation of Benefit Service as of June
30, 2011, for purposes of determining the amount of a Non-Grandfathered Member’s
Average Final Salary, Pensionable Earnings for the 2011 Plan Year shall include
Pensionable Earnings for the period July 1, 2011 to December 31, 2011 to the extent it
would have been counted had Benefit Service continued to be recognized under the Plan
for that period.”

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	3.	 	Section 1.4 of Appendix 1 is amended, effective as of July 1, 2011, by adding the following
sentence at the end thereof:

	 	 	“Notwithstanding the foregoing, a Non-Grandfathered Member’s Covered Compensation shall be
determined as of December 31, 2011, or as of his retirement or termination of employment, if
earlier.”

	4.	 	Article 1 of Appendix 1 is amended, effective as of July 1, 2011, by renumbering Sections
1.12 through 1.21 as Sections 1.13 through 1.22, respectively, by changing any references to
those sections accordingly, and by adding a new Section 1.12 to read as follows:

	 	“1.12	 	 ‘Non-Grandfathered Member’ means a Member who, on July 1, 2011, failed to meet
one or more of the following requirements:

	 	(a)	 	is age 50 or older,

	 	(b)	 	has completed five or more years of Vesting Service,

	 	(c)	 	is in active employment, is on an approved leave of absence, is
in receipt of benefits under the Employer’s long-term disability plan, or is on
a military leave as described in Section 2.6 provided the Member’s reemployment
rights are protected by law on July 1, 2011.”

	5.	 	Section 1.16(a) of Appendix 1, as renumbered, is amended, effective as of July 1, 2011, by
adding the following paragraphs at the end thereof:

	 	 	“A Non-Grandfathered Member who is accruing Benefit Service under Section 5.4 as of June 30,
2011 shall continue to be credited with Pensionable Earnings under the preceding paragraph
for the period July 1, 2011 to December 31, 2011 to the extent he remains Disabled during
that period and does not elect to commence payment of his Pension.

	 	 	Notwithstanding the above, Pensionable Earnings paid after December 31, 2011 with respect to
a Non-Grandfathered Member shall not be counted under the Plan. In addition, no Pensionable
Earnings shall be imputed for any period of absence after December 31, 2011 with respect to
a Non-Grandfathered Member.”

	6.	 	Section 2.2 of Appendix 1 is amended, effective as of July 1, 2011, by adding the following
sentence at the end of the second paragraph thereof:

	 	 	“In addition, a Non-Grandfathered Member who is receiving payments under the Employer’s
long-term disability plan as of June 30, 2011 or who becomes Disabled on or after July 1,
2011 shall continue to be credited with Vesting Service for his period of Disability until
the earlier of the date the Member ceases to be Disabled or commences payment of his
Pension.”

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	7.	 	Section 2.3(b) of Appendix 1 is amended, effective as of June 30, 2011, by adding a new
subparagraph (iv) to read as follows:

	 	“(iv)	 	 Any period of service or period of absence after June 30, 2011 with respect to
a Non-Grandfathered Member.”

	8.	 	Section 5.1(c) of Appendix 1 is amended, effective as of July 1, 2011, by deleting the words
“the sum of (i) and (ii) but not less than the greater of either (iii) or (iv)” in the first
paragraph thereof and inserting in their place the words “the sum of (i), (ii) and (iii) but
not less than the greater of (iv) or (v)” and by redesignating subparagraphs (iii) and (iv) as
subparagraphs (iv) and (v), respectively, and by adding a new subparagraph (iii) and revising
subparagraph (ii) to read as follows:

	 	“(ii)	 	 1.20% of Average Final Salary multiplied by Benefit Service accrued as of June
30, 2011 in excess of 35 years.

	 	(iii)	 	0.90% of Average Final Salary multiplied by Benefit Service accrued after June
30, 2011 in excess of 35 years (taking Benefit Service accrued prior to June 30, 2011
into account in determining the Member’s years of Benefit Service in excess of 35
years).”

	9.	 	Section 5.4 of Appendix 1 is amended, effective as of June 30, 2011, by adding the words
“Subject to the provisions of paragraph (e) below,” at the beginning of the first sentence of
paragraph (a), and by adding a new paragraph (e) to read as follows:

	 	“(e)	 	 Restriction of Benefits for Non-Grandfathered Members. Notwithstanding
the preceding provisions of this Section 5.4, in no event shall a Non-Grandfathered
Member first become eligible for benefits under the provisions of this Section 5.4
after June 30, 2011. In addition, a Non-Grandfathered Member who is accruing Benefit
Service under the provisions of this Section 5.4 as of June 30, 2011 shall cease to
accrue Benefit Service under the provisions of this Section 5.4 as of June 30, 2011. A
Non-Grandfathered Member’s benefit accrued under the provisions of this Section 5.4
shall continue to be governed by the provisions of this Section 5.4 on and after July
1, 2011, including the right to commence payment in accordance with the provisions of
paragraph (d) above and Sections 5.1, 5.2, 5.3 and 5.5. For purposes of determining a
Non-Grandfathered Member’s right to an early retirement Pension and the early
retirement factor to be applied in the event a Member elects to commence payment of his
Pension prior to the Member’s Normal Retirement Date under the provisions of Section
5.3, a Non-Grandfathered Member who is accruing benefits under the provisions of this
Section 5.4 as of June 30, 2011 shall continue to accrue Vesting Service while the
Member remains Disabled in accordance with the provisions of this Section 5.4 up to the
date the Member’s Pension commences.”

	10.	 	Article 5 of Appendix 1 is amended, effective as of June 30, 2011, by adding a new Section
5.7 to read as follows:

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	 	“5.7	 	 Cessation of Benefit Accruals for Non-Grandfathered Members
	 
	 	 	 	Notwithstanding any provisions of the Plan to the contrary, in
calculating the benefit payable to or on behalf of a
Non-Grandfathered Member under the Plan after June 30, 2011, the
following rules shall apply:

	 	(a)	 	Benefit Service for benefit accrual purposes shall be frozen as
of June 30, 2011;
	 
	 	(b)	 	Average Final Salary and Covered Compensation shall be frozen
as of December 31, 2011; and
	 
	 	(c)	 	Vesting Service shall continue to be credited in accordance
with the provisions of the Plan for all purposes.”

              BE IT FURTHER RESOLVED, that the Retirement Committee has approved this Third Amendment to the
Graphic Packaging Retirement Plan on this sixth day of May, 2011.

	 	 	 	 	 
	 	GRAPHIC PACKAGING INTERNATIONAL, INC.

   RETIREMENT COMMITTEE MEMBERS	 
	 	 	 
	 	By:  	
/s/ Daniel J. Blount 	 
	 	 	Daniel J. Blount 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Brad Ankerholz 	 
	 	 	Brad Ankerholz 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Cindy Baerman 	 
	 	 	Cindy Baerman 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Clint Demetriou 	 
	 	 	Clint Demetriou 	 
	 	 	 	 
	 

4exv10w3

Exhibit 10.3

THIRD AMENDMENT TO THE

GPI SAVING PLAN

(As Amended and Restated Effective January 1, 2009 and Reflecting Amendments Adopted Through

December 31, 2009)

               WHEREAS, the Board of Directors of Graphic Packaging Holding Company has delegated to the
Retirement Committee of Graphic Packaging International, Inc. (the “Retirement Committee”) the
responsibility to make certain amendments to the GPI Savings Plan (the “Plan”) pursuant to
resolutions adopted by the Compensation and Benefits Committee of the Board of Directors on
November 17, 2010 and February 17, 2011;

               NOW, THEREFORE, BE IT RESOLVED, that the Plan be, and it hereby is, amended, effective as of
January 1, 2012, in the following respect:

	1.	 	Section 3.02(b) of the Plan is amended in its entirety to read as follows:

	 	“(b) 	 	 Supplemental Employer Contributions
	 
	 	 	 	“Commencing January 1, 2012, each Plan Year the Employer shall make a Supplemental
Employer Contribution to the Plan on behalf of each Employee who:

	 	(i)	 	is eligible to participate with respect to Supplemental
Employer Contributions pursuant to Section 2.01 for that Plan Year,

	 	(ii)	 	is a Pension Plan Ineligible Employee during that Plan
Year, and

	 	(iii)	 	meets one of the following requirements for the Plan
Year:

	 	(A)	 	is an Employee of the Employer on the last
day of the Plan Year (including Employees who are on an approved
leave of absence on the last day of the Plan Year), or

	 	(B)	 	terminates employment during the Plan Year
after reaching age 55 and the sum of his age plus years of Vesting
Service equals 65 or more, or

	 	(C)	 	becomes Disabled during the Plan Year
while in active employment, or

	 	(D)	 	dies during the Plan Year while in active employment, or

	 	(E)	 	is involuntarily terminated without
cause during the Plan Year and who has entered into the appropriate
release agreement with the Employer.

	 	 	 	The Supplemental Employer Contribution shall equal three percent (3%) of a
Participant’s Compensation for the Plan Year and shall be based solely on a
Participant’s Compensation payable for the portion of the Plan Year during which
the Employee was both a Participant and a Pension

 

 

	 	 	 	Plan Ineligible Employee. The Supplemental Employer Contribution shall be paid to
the Trustee as soon as practicable following the close of the Plan Year, except
that the Supplemental Employer Contribution for an eligible Employee who meets the
requirement of clause (iii)(C), (D) or (E) shall be made as soon as practicable
following the Employee’s termination of employment.”

               BE IT FURTHER RESOLVED, that the Retirement Committee has approved this Third Amendment
to the GPI Savings Plan this sixth day of May, 2011.

	 	 	 	 	 
	 	GRAPHIC PACKAGING INTERNATIONAL, INC.

   RETIREMENT COMMITTEE MEMBERS	 
	 	 	 
	 	By:  	
/s/ Daniel J. Blount 	 
	 	 	Daniel J. Blount 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Brad Ankerholz 	 
	 	 	Brad Ankerholz 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Cindy Baerman 	 
	 	 	Cindy Baerman 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Clint Demetriou 	 
	 	 	Clint Demetriou

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