Document:

EX-10.1

 Exhibit 10.1 
 ESCROW AGREEMENT 
 This Escrow Agreement, dated as of August 14, 2012
(as amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), is entered into by and among Constellation Brands, Inc., a Delaware corporation (the “Issuer”),
Manufacturers and Traders Trust Company, as trustee under the Indenture defined below (together with its successors in such capacity in accordance with the Indenture, the “Trustee”), Manufacturers and Traders Trust Company, as
escrow agent (in such capacity, the “Escrow Agent”), and Manufacturers and Traders Trust Company, as “securities intermediary” as such term is defined in the UCC (as defined herein) (in such capacities as Escrow Agent and
securities intermediary, the “Financial Institution”). 
 RECITALS 

 

	A.	Pursuant to that certain Indenture, dated as of April 17, 2012 (as may be amended, amended and restated, supplemented or otherwise modified from time to time, the
“Original Indenture”), among the Issuer, certain subsidiaries of the Issuer parties thereto and the Trustee, as supplemented by Supplemental Indenture No. 1, dated as of April 17, 2012, and Supplemental Indenture
No. 2, dated as of August 14, 2012 (as may be amended, amended and restated, supplemented or otherwise modified from time to time, “Supplemental Indenture No. 2” and, together with the Original Indenture, the
“Indenture”), among the Issuer, certain subsidiaries of the Issuer parties thereto and the Trustee, the Issuer is issuing $650,000,000 in aggregate principal amount of 4.625% Senior Notes due 2023 (the “Notes”).
Capitalized terms used but not defined herein shall have the respective meanings assigned to them in Supplemental Indenture No. 2. 

  

	B.	The Issuer has agreed, for the benefit of the holders of Notes and the Trustee, that the Initial Deposit (as defined below) will be made on the date of this Agreement
and that thereafter the Escrow Property (as defined below) will only be withdrawn as provided in Section 2.3. 

 In
consideration of the promises and agreements of the Issuer and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Issuer, the Trustee, the Financial Institution and the Escrow Agent agree as
follows: 
 ARTICLE 1 
 APPOINTMENT OF ESCROW AGENT 
 Section 1.1 Appointment of the Escrow Agent. The Issuer
hereby designates and appoints the Escrow Agent to act as escrow agent and depositary in accordance with the terms and conditions of this Agreement, and the Escrow Agent hereby accepts such designation and appointment. 

ARTICLE 2 
 ESCROW
DEPOSIT 
 Section 2.1 Receipt of Escrow Property; Grant of Security Interest. 

(a) Upon execution hereof, the Issuer shall deposit, or cause to be deposited, with the Escrow Agent, in the Escrow Account (as defined
below) $650,000,000 by wire transfer in immediately available funds (the “Initial Deposit”). Upon receipt of the Initial Deposit into the Escrow Account, the Escrow Agent shall give notice of such receipt, in the form attached
hereto as Exhibit A, to the Issuer. 
 (b) The Escrow Agent shall accept the Initial Deposit and shall hold such funds,
all investments thereof, any Distributions (as hereinafter defined) and the proceeds of the foregoing in the account referred to in Schedule I attached hereto maintained by the Escrow Agent in the name of the Escrow Agent, acting in such capacity,
(such account, the “Escrow Account”) for disbursement in accordance with the provisions of Section 2.3, and otherwise to be administered in accordance with the terms of this Agreement. The Escrow Account shall be held as a
segregated account, maintained by the Escrow Agent as a “special deposit” account, and shall be properly identified by the Escrow Agent on its books and records as an escrow account held for the benefit of the parties to this Agreement and
subject to its terms. Neither the Issuer nor the Trustee shall have any access to the Escrow Account or the Escrow Property, other than the limited contractual right to receive (or, in the case of the Trustee, have the Paying Agent receive) the
Escrow Property under the circumstances and to the extent specified in Section 2.3 hereof and the right of the Trustee to give Entitlement Orders (as defined below) in accordance with Sections 2.1(c) and (e) and in connection therewith,
the Trustee shall be the entitlement holder with respect to the Escrow Account. The Initial Deposit, the Escrow Account and all funds or securities now or hereafter credited to or deposited in the Escrow Account, all investments of any of the
foregoing, plus all interest, dividends and other distributions and payments on any of the foregoing (collectively the “Distributions”) received or receivable in respect of any of the foregoing, together with all proceeds of any of
the foregoing are collectively referred to herein as “Escrow Property.” The Escrow Agent agrees to accept delivery of the Escrow Property and shall hold and safeguard the Escrow Property and shall hold and dispose of the Escrow
Property only in accordance with the terms hereof. 

  
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 (c) It is the intention of the parties hereto that this Escrow Agreement create a true
escrow and that the Issuer will have no rights in the Escrow Account or the other Escrow Property other than the right under this Escrow Agreement to receive the Escrow Property under the circumstances specified in Section 2.3(a) or the right
to have the Escrow Property paid to the Paying Agent for its account pursuant to Section 2.3(b) or (c). If, notwithstanding the intention of the parties hereto, the Issuer is deemed to have any interest in the Escrow Account or the other Escrow
Property, then (i) the Issuer hereby pledges, assigns and grants to the Trustee, for its benefit and the benefit of the holders of the Notes, as security for the due and punctual payment when due of all amounts that may be payable from time to
time in respect of the Indenture Obligations (including any interest, fees and expenses that may commence following the commencement of any Insolvency or Liquidation Proceeding, whether or not a claim for such amounts is allowed in any such
proceeding) (collectively, the “Secured Obligations”), a continuing security interest in, and a lien on, all of the Issuer’s rights, whether now existing or hereafter acquired or arising, to receive the Escrow Property pursuant
to this Agreement and in all right, title and interest of the Issuer, whether now existing or hereafter acquired or arising, in the Escrow Account and all Escrow Property and security entitlements in respect of the Escrow Account and all financial
assets credited to the Escrow Account from time to time, and (ii) it is intended by the parties that this Agreement shall grant to the Trustee “control” (within the meaning of such term under Section 8-106 and 9-106 of the UCC)
over the securities entitlements to the Escrow Account and to all Escrow Property credited to the Escrow Account, as further provided in Section 2.1(e) below. 
 (d) The parties hereto acknowledge and agree that: (a) the Escrow Account will be treated as a “Securities Account,” (b) the Escrow Property (other than the Escrow Account) and
other assets credited to the Escrow Account will be treated as “Financial Assets,” (c) this Agreement governs the Escrow Account and provides rules governing the priority among possible “Entitlement Orders”
received by the Financial Institution from the Trustee and any other persons entitled to give “Entitlement Orders” with respect to such Financial Assets and (d) the “Securities Intermediary’s Jurisdiction”
is the State of New York. The Financial Institution represents and warrants that it is a “Securities Intermediary” with respect to the Escrow Account and the “Financial Assets” credited to the Escrow Account. Except
as specifically provided herein, the terms of the New York Uniform Commercial Code, as amended, or any successor provision (the “UCC”), will apply to this Agreement, and all terms quoted in this clause (d) will have the
meanings assigned to them by Article 8 and Article 9 of the UCC. 
 (e) The Escrow Agent hereby agrees that all property
delivered to the Escrow Agent for crediting to the Escrow Account will be promptly credited to the Escrow Account by the Financial Institution. The Financial Institution represents and warrants that it has not entered into, and agrees that it will
not enter into, any control agreement or any other agreement relating to the Escrow Account or the other Escrow Property with any other third party without the prior written consent of the Issuer and the Trustee. The parties agree that all financial
assets (except cash) credited to the Escrow Account will be registered in the name of the Financial Institution or indorsed to the Financial Institution or in blank and in no case will any financial asset credited to the Escrow Account be registered
in the name of the Issuer, payable to the order of the Issuer or specially indorsed to the Issuer unless such financial asset has been further indorsed to the Financial Institution or in blank. Each of the parties hereto acknowledges and agrees that
the Escrow Account will be under the control (within the meanings of Sections 8-106 and 9-106 of the UCC) of the Trustee for its benefit as Trustee and the benefit of the holders of the Notes and, notwithstanding any other provision of this
Agreement, the Financial Institution will comply with all “entitlement orders” (as defined in Section 8-102 of the UCC and including any instruction by Trustee to liquidate and/or distribute the Escrow Property, collectively,
“Entitlement Orders”) with respect to the Escrow Account (and all security entitlements in respect of the Escrow Account and all financial assets credited to the Escrow Account from time to time) and all instructions directing
disposition of funds in the Escrow Account, in each case originated by the Trustee without further consent of the Issuer or any other person. Without limiting the generality of the foregoing, it is hereby expressly acknowledged that, as between the
Issuer and the Trustee, the Trustee agrees that it shall not have the right to exercise any remedies in its capacity as a secured party or deliver any such Entitlement Order or instruction unless and until the Notes have become due and payable
pursuant to Section 5.2 of Supplemental Indenture No. 2. 
 (f) The Issuer agrees to take all steps reasonably
necessary in connection with the perfection of the Trustee’s security interest in this Agreement and the Escrow Property and the protection of the Escrow Property from claims by third parties and, without limiting the generality of the
foregoing, the Issuer hereby agrees to file or to cause to be filed, upon the request by the Trustee, one or more UCC financing statements in such jurisdictions and filing offices and containing such description of collateral as is necessary in
order to perfect the security interest granted herein. The Issuer represents and warrants that it is duly formed and validly existing as a corporation under the laws of the state of Delaware and is not organized under the laws of any other
jurisdiction, and hereby agrees that, prior to the termination of this Agreement, it will not change its name or jurisdiction of organization without giving the Trustee prior written notice thereof and taking all steps required under the UCC to
cause the security interests granted herein to remain perfected. 

  
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 (g) Upon any release of Escrow Property pursuant to Section 2.3(a) below, the Issuer
and the Trustee agree that the Escrow Property shall be held by the Issuer as sub-agent for the Trustee for purposes of perfecting the Trustee’s security interest for its benefit and the benefit of the Holders of Notes granted hereunder until
such time, if any, as any such Escrow Property is used to consummate an Acquisition or transferred to the Escrow Account. If an Acquisition has not been consummated in accordance with the terms of the Acquisition Agreement (and without any
amendment, waiver or modification thereof that is materially adverse to the Holders of the Notes) on or prior to the seventh Business Day following any release pursuant to Section 2.3(a), the Issuer shall transfer all Escrow Property, by wire
transfer of immediately available funds, to the Escrow Account on the following Business Day (subject to the Issuer’s right to subsequently require a release pursuant to Section 2.3(a)) (which may, subject to compliance with the deadlines
set forth in Section 2.3(a), occur on the day the Issuer transfers the Escrow Property back to the Escrow Account); provided, if the Issuer is in the possession of the Escrow Property on December 31, 2013 and an Acquisition has not been
consummated on or before December 30, 2013, the Issuer shall transfer all Escrow Property, by wire transfer of immediately available funds, to the Escrow Account on December 31, 2013. Immediately upon consummation of an Acquisition in
accordance with the Acquisition Agreement, the security interest of the Trustee for its benefit and the benefit of the holders of the Notes granted herein shall automatically terminate without any further action and, without limiting the generality
of the foregoing, the Escrow Property shall be free and clear of any and all liens, claims or encumbrances of the Financial Institution, the Escrow Agent and the Trustee, on behalf of the holders of the Notes. 

Section 2.2 Investments. 

(a) The Escrow Agent is hereby authorized and directed to deposit, transfer, hold and invest the Escrow Property and any investment
income thereon in any investment set forth in Exhibit D (“Permitted Escrow Investments”). The Escrow Agent shall invest the Escrow Property in Permitted Escrow Investments as directed by Wilmington Trust, National Association
(the “Investment Advisor”) pursuant to a certain Investment Advisory Agreement by and between the Issuer the Investment Advisor dated as of August 14, 2012 (the “Investment Agreement”). In order to carry out
the investment of the Escrow Property, the Investment Advisor will communicate investment instructions directly to the Escrow Agent and the Escrow Agent is hereby authorized and directed to accept investment instructions directly from an authorized
representative of the Investment Advisor. If the Issuer gives notice to the Escrow Agent that the Investment Agreement has expired or otherwise terminated, the Escrow Agent shall invest the Escrow Property in Permitted Escrow Investments as may be
specified in writing by the Issuer or a successor investment advisor designated by the Issuer, from time to time following the date thereof, in any certificate executed by one of the authorized signatories of the Issuer listed on Exhibit E-1
to this Agreement and delivered by the Issuer to the Escrow Agent and the Trustee. Any investment earnings and income on the Escrow Property shall become part of the Escrow Property, and shall be disbursed in accordance with Section 2.3 or
Section 2.5 of this Agreement. The Financial Institution will credit all such investments to the Escrow Account and hereby agrees to treat any such investment as a “Financial Asset” within the meaning of
Section 8-102(a)(9) of the UCC. 
 (b) The Escrow Agent is hereby authorized and directed to sell or redeem any such
investments as it deems necessary to make any payments or distributions required under this Agreement. The Escrow Agent shall have no responsibility or liability for any loss which may result from any investment or sale of investment made pursuant
to Section 2.2(a). The Escrow Agent is hereby authorized, in making or disposing of any investment permitted by this Agreement, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or any such
affiliate is acting as agent of the Escrow Agent or for any third person or dealing as principal for its own account. The Issuer acknowledges that the Escrow Agent is not providing investment supervision, recommendations, or advice. 

Section 2.3 Disbursements. The Escrow Agent is directed to and shall distribute the Escrow Property in the following manner: 

(a) If the Escrow Agent shall have received a certificate from the Issuer in the form attached hereto as Exhibit B-1 (the
“Consummation Release Certificate”), executed by one of the authorized signatories of the Issuer listed on Exhibit E-1 to this Agreement, then the Escrow Agent shall liquidate, release and deliver all Escrow Property in
accordance with the instructions and on the date provided therein (or, if such requested date is not a Business Day, on the following Business Day), which requested disbursement date shall be no later than December 30, 2013 (the
“Redemption Deadline”) and no earlier than (i) the day on which the Escrow Agent receives the Consummation Release Certificate if the Escrow Agent receives the Consummation Release Certificate before 2:00 p.m. Eastern Time on a
Business Day, or (ii) on the next Business Day if the Escrow Agent receives the Consummation Release Certificate after 2:00 p.m. Eastern Time on a Business Day or on a day that is not a Business Day; provided that upon the request of the Issuer
delivered simultaneously with the Consummation Release Certificate the Escrow Agent will not liquidate the Escrow Property but instead distribute the Escrow Property to the Issuer in-kind. The Escrow Agent shall confirm in writing to the Issuer and
the Trustee that the Escrow Property has been transferred by it to the Issuer in accordance with the Consummation Release Certificate. 

  
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 (b) If the Escrow Agent shall have received a certificate from the Issuer in the form
attached hereto as Exhibit C (the “Redemption Release Certificate”), executed by one of the authorized signatories listed on Exhibit E-1 to this Agreement, then the Escrow Agent shall liquidate and transfer to the
Paying Agent all Escrow Property in accordance with the instructions and on the date provided therein (or, if such requested date is not a Business Day, on the following Business Day), which requested disbursement date shall be no earlier than
(i) the day on which the Escrow Agent receives the Redemption Release Certificate if the Escrow Agent receives the Redemption Release Certificate before 2:00 p.m. Eastern Time on a Business Day, or (ii) on the next Business Day if the
Escrow Agent receives the Redemption Release Certificate after 2:00 p.m. Eastern Time on a Business Day or on a day that is not a Business Day. The Escrow Agent shall confirm in writing to the Issuer and the Trustee that the Escrow Property has been
released by it in accordance with the Redemption Release Certificate. 
 (c) If there is any Escrow Property in the Escrow
Account on or after December 31, 2013 then, notwithstanding any objection, claim, demand or other notice from the Issuer (each of which are hereby waived by the Issuer) or any other person to the contrary, the Escrow Agent shall liquidate and
transfer to the Paying Agent all Escrow Property on December 31, 2013 or, if Escrow Property is deposited to the Escrow Account after December 30, 2013, on the Business Day following the day of such deposit. The Escrow Agent shall confirm
in writing to the Trustee and the Issuer that the Escrow Property has been released by it in accordance with this Section 2.3(c). 

Section 2.4 Income Tax Allocation and Reporting. 
 (a) The Issuer agrees that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the
Internal Revenue Service, be reported as having been earned by the Issuer, whether or not such income was disbursed during such calendar year. 
 (b) Prior to closing, the Issuer shall provide the Escrow Agent with certified tax identification numbers by furnishing appropriate forms W-9 or W-8 and such other forms and documents that the Escrow
Agent may request. The Issuer understands that if such tax reporting documentation is not provided and certified to the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder, to withhold a portion of any interest or other income earned on the investment of the Escrow Property. 
 (c) To the
extent that the Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of the Escrow Property, the Escrow Agent shall satisfy such liability to the extent possible from the Escrow Property. The
Issuer shall indemnify, defend and hold the Escrow Agent harmless from and against any tax, late payment, interest, penalty or other cost or expense that may be assessed against the Escrow Agent on or with respect to the Escrow Property and the
investment thereof unless such tax, late payment, interest, penalty or other expense was directly caused by the gross negligence or willful misconduct of the Escrow Agent. The indemnification provided by this Section 2.4(c) is in addition to
the indemnification provided in Section 4.1 and shall survive the resignation of the Escrow Agent and the termination of this Agreement. For the avoidance of doubt, the terms of this Section 2.4(c) are not intended, and shall not be
construed, to apply to any income tax liability of the Escrow Agent arising from its receipt of compensation hereunder. 
 Section 2.5
Termination. Upon (i) the disbursement of all of the Escrow Property in accordance with Section 2.3(a), (b) or (c) and (ii) solely in the case of a disbursement pursuant to Section 2.3(a), the delivery to the
Escrow Agent by the Issuer of a certificate in the form of Exhibit B-2, executed by one of the authorized signatories of the Issuer listed on Exhibit E-1 to this Agreement, this Agreement shall terminate and be of no further force and
effect except that the provisions of Sections 2.4(c), 4.1, 4.2, 5.4 and 5.5 hereof shall survive termination. Upon termination of this Agreement, all security interest of the Trustee for the benefit of the holders of the Notes granted pursuant to,
and described in, Section 2.1 of this Agreement shall automatically terminate without any further action. Upon any such termination pursuant to this Section 2.5, the Trustee hereby authorizes the Issuer to take all steps reasonably
necessary to terminate any financing statements that have not been terminated pursuant to Section 2.1 hereof and the Trustee shall execute such other documents without recourse, representation or warranty of any kind as the Issuer may
reasonably request in writing to evidence or confirm the termination of such security interest. 
 ARTICLE 3 

DUTIES OF THE ESCROW AGENT 

Section 3.1 Scope of Responsibility. Notwithstanding any provision to the contrary or references to other documents or agreements contained
herein, the Escrow Agent is obligated only to perform the duties specifically set forth in this Agreement, which shall be deemed purely ministerial in nature. Under no circumstances will the Escrow Agent be deemed to be a fiduciary to the Issuer or
any other person under this Agreement. The Escrow Agent will not be responsible or liable for the failure of the Issuer to perform in accordance with this Agreement. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge
of the terms and conditions of any other agreement, instrument, or document other than this Agreement, whether or not an original or a copy of such agreement has been provided to the Escrow Agent; and the Escrow Agent shall have no duty to know or
inquire as to the performance or nonperformance of any provision of any such agreement, instrument, or document. References in this Agreement to any other agreement, instrument, or document are for the convenience of the Issuer and the Trustee, and
the Escrow Agent has no duties or obligations with respect thereto. In the event that any of the terms and provisions 

  
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of any other agreement between any of the parties hereto conflict or are inconsistent with any of the terms and provisions of this Agreement, the terms and provisions of this Agreement shall
govern and control the duties of the Escrow Agent in all respects. This Agreement sets forth all matters pertinent to the escrow contemplated hereunder, and no additional obligations of the Escrow Agent shall be inferred or implied from the terms of
this Agreement or any other agreement. 
 Section 3.2 Attorneys and Agents. The Escrow Agent shall be entitled to rely on and shall not
be liable for any action taken or omitted to be taken by the Escrow Agent in accordance with the advice of counsel or other professionals retained or consulted by the Escrow Agent so long as any action taken or omitted to be taken based on such
advice does not constitute gross negligence or willful misconduct. The Escrow Agent shall be reimbursed as set forth in Section 4.1 for any and all reasonable compensation (reasonable fees, expenses and other costs) paid and/or reimbursed to
such counsel and/or professionals. The Escrow Agent may perform any and all of its duties through its agents, representatives, attorneys, custodians, and/or nominees. 
 Section 3.3 Reliance. The Escrow Agent shall not be liable for any action taken or not taken by it in good faith and in accordance with the direction or consent of the Issuer pursuant to Sections
2.2, 2.3(a) and 2.3(b) or in accordance with the direction of the Trustee pursuant to Section 2.3(c) so long as any action taken or omitted to be taken based on such advice does not constitute gross negligence or willful misconduct. The Escrow
Agent shall not be liable for acting or refraining from acting upon any notice, request, consent, direction, requisition, certificate, order, affidavit, letter, or other paper or document reasonably believed by it, acting in good faith, to be
genuine and correct and to have been signed or sent by the proper person or persons, without further inquiry into the person’s or persons’ authority. Concurrent with the execution of this Agreement, (x) the Issuer shall deliver to the
Escrow Agent authorized signers’ forms in the form of Exhibit E-1 to this Agreement and (y) the Trustee shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit E-2 to this Agreement.

 Section 3.4 Right Not Duty Undertaken. The permissive rights of the Escrow Agent to do things enumerated in this Agreement shall not
be construed as duties. 
 Section 3.5 No Financial Obligation. No provision of this Agreement shall require the Escrow Agent to risk or
advance its own funds or otherwise incur any financial liability or potential financial liability in the performance of its duties or the exercise of its rights under this Agreement. 
 Section 3.6 No Other Rights In the Escrow Account. The Escrow Agent and Financial Institution each expressly agree that they shall not have, and hereby expressly waive, any rights or interests in
or to or against the Escrow Account or the Escrow Property, except as and to the extent expressly set forth in this Agreement. 

ARTICLE 4 

PROVISIONS CONCERNING THE ESCROW AGENT AND THE TRUSTEE 
 Section 4.1 Indemnification. The Issuer shall indemnify, defend and hold harmless the Escrow Agent from and against any and all loss, liability, cost, damage and expense, including, without
limitation, reasonable attorneys’ fees and expenses or other reasonable professional fees and expenses which the Escrow Agent and its directors, officers, employees and agents (collectively, the “Indemnified Parties”) may
suffer or incur by reason of any action, claim or proceeding brought against any of the Indemnified Parties, arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates, unless such loss, liability,
cost, damage or expense shall have been finally adjudicated to have been directly caused by the willful misconduct, bad faith or gross negligence of any Indemnified Party or a breach of the contractual terms of this Agreement. The provisions of this
Section 4.1 shall survive the resignation or removal of the Escrow Agent and the termination of this Agreement. 
 Section 4.2
Limitation of Liability. THE ESCROW AGENT SHALL NOT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY (I) DAMAGES, LOSSES OR EXPENSES ARISING OUT OF THE SERVICES PROVIDED HEREUNDER, OTHER THAN DAMAGES, LOSSES OR EXPENSES WHICH HAVE BEEN FINALLY
ADJUDICATED TO HAVE DIRECTLY RESULTED FROM THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT OF ANY INDEMNIFIED PARTY OR A BREACH OF THE CONTRACTUAL TERMS OF THIS AGREEMENT, OR (II) SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR LOSSES OF ANY
KIND WHATSOEVER (INCLUDING WITHOUT LIMITATION LOST PROFITS), EVEN IF THE ESCROW AGENT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS OF THE FORM OF ACTION. 
 Section 4.3 Resignation. The Escrow Agent may resign at any time by furnishing written notice of its resignation to the Issuer and the Trustee. Such resignation shall be effective thirty
(30) days after the delivery of such notice or upon the earlier appointment of a successor as set forth below, and the Escrow Agent’s sole responsibility thereafter shall be to safely keep the Escrow Property in accordance with the terms
of this Agreement and to deliver the same to a successor escrow agent as shall be appointed by the Issuer, as evidenced by written notice filed with the Escrow Agent or in accordance with a court order. The Issuer agrees that such successor shall be
a Person that would have been qualified to be a successor Trustee in accordance with 

  
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the terms of the Indenture. If the Issuer has failed to appoint a successor escrow agent prior to the expiration of thirty (30) days following the delivery of such notice of resignation, the
Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief, and any such resulting appointment shall be binding upon the Issuer. 

Section 4.4 Compensation. The Escrow Agent shall be entitled to compensation for its services as separately agreed to by the Issuer and the Escrow
Agent, which compensation shall be paid by the Issuer. The fee agreed upon for the services rendered hereunder is intended as full compensation for the Escrow Agent’s services as contemplated by this Agreement; provided, however,
that in the event that the conditions for the disbursement of funds under this Agreement are not fulfilled, or the Escrow Agent renders any service not contemplated in this Agreement, or there is any assignment of interest in the subject matter of
this Agreement, or any material modification hereof, or if any material controversy arises hereunder, or the Escrow Agent is made a party to any litigation pertaining to this Agreement or the subject matter hereof, then the Escrow Agent shall be
compensated for such extraordinary services and reimbursed for all costs and expenses, including reasonable attorneys’ fees and expenses, occasioned by any such delay, controversy, litigation or event. 

Section 4.5 Disagreements. The Escrow Agent shall not be required to make any disbursement under Section 2.3 of this Agreement or otherwise
to act on any request or instruction provided to it under this Agreement (i) if, in the Escrow Agent’s reasonable opinion, it does not comply with the requirements of this Agreement; or (ii) in the event of a material disagreement
between the Issuer and the Trustee resulting in conflicting claims or demands being made in connection with the Escrow Property that, in the Escrow Agent’s reasonable judgment, subjects it to risk of liability. If the Escrow Agent refuses to
make any disbursement or otherwise to act on any request or instruction provided to it under this Agreement, it must, promptly, notify the Issuer and the Trustee in writing of the decision not to act and thereafter it shall liquidate, release and
deliver the Escrow Property in accordance with the instructions to be provided in writing and executed by (i) one of the authorized signatories listed on Exhibit E-1 to this Agreement and (ii) one of the authorized signatories listed on
Exhibit E-2 to this Agreement, or in accordance with a court order. 
 Section 4.6 Merger or Consolidation. Any corporation or
association into which the Escrow Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer all or substantially all of its corporate trust business and assets as a whole or substantially as a whole,
or any corporation or association resulting from any such conversion, sale, merger, consolidation or transfer to which the Escrow Agent is a party, shall be and become the successor escrow agent under this Agreement and shall have and succeed to the
rights, powers, duties, immunities and privileges as its predecessor, without the execution or filing of any instrument or paper or the performance of any further act; provided that prompt written notice thereof shall be delivered by the Escrow
Agent to the Issuer and the Trustee. 
 Section 4.7 Attachment of Escrow Property; Compliance with Legal Orders. In the event that any
Escrow Property shall be attached, garnished or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order affecting the
Escrow Property, the Escrow Agent (a) shall promptly notify each of the Issuer and the Trustee, and (b) is hereby expressly authorized, in its reasonable judgment, based upon advice of counsel, to respond as it deems appropriate or to
comply with all writs, orders or decrees so entered or issued as advised by counsel is binding upon it, whether with or without jurisdiction, provided, however, that the Issuer and the Trustee shall first have been given notice by the Escrow Agent
prior to taking such action, in order that the Issuer and Trustee may have a reasonable opportunity to appear and be heard in such matter. In the event that the Escrow Agent obeys or complies with any such writ, order or decree as provided in this
Section 4.7 it shall not be liable to the Issuer or to any other person, firm or corporation, should, by reason of such compliance notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set aside or vacated.

 Section 4.8 Force Majeure. In no event shall the Escrow Agent be responsible or liable for any failure or delay in the performance of
its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Escrow Agent shall use reasonable efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 4.9 Concerning the
Trustee. This Agreement has been accepted, executed and delivered by the Trustee in its capacity as Trustee under and pursuant to the terms of the Indenture. The Trustee shall be entitled to all rights, privileges, immunities and protections set
forth in the Indenture in the acceptance, execution, delivery and performance of this Agreement as though fully set forth herein. 

  
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 ARTICLE 5 
 MISCELLANEOUS 
 Section 5.1 Successors and Assigns. This Agreement shall be binding on and
inure to the benefit of the Issuer, the Trustee, on behalf of the holders of the Notes, and the Financial Institution and their respective successors and permitted assigns. No other persons shall have any rights under this Agreement. No assignment
of the interest of the Issuer shall be binding unless and until written notice of such assignment shall be delivered to the Escrow Agent and the Trustee and shall require the prior written consent of the Escrow Agent and the Trustee (such consent
not to be unreasonably withheld). 
 Section 5.2 Escheat. The Issuer is aware that under applicable state law, property which is presumed
abandoned may under certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to the Issuer, its respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the
Escrow Property escheat by operation of law. 
 Section 5.3 Notices. All notices, requests, demands, and other communications required
under this Agreement shall be in writing, in English, and shall be deemed to have been duly given if delivered (i) personally, (ii) by facsimile transmission with written confirmation of receipt, (iii) by overnight delivery with a
reputable national overnight delivery service, (iv) by mail or by certified mail, return receipt requested, and postage prepaid or (v) by email. If notice is given to a party, it shall be given at the address for such party set forth
below. It shall be the responsibility of the Issuer to notify the Escrow Agent in writing of any name or address changes. Any notice given shall be deemed to have been given on the date received by the party to this Agreement to whom such notice is
given irrespective of when copies of such notice are received by the other persons entitled to receive copies of such notice so long as such copies are sent to such other persons at the same time and in the same manner as such notice is sent to the
party to this Agreement. 
 If to the Issuer: 
 Constellation Brands, Inc. 
 207 High Point Drive, Bldg. 100 

Victor, NY 14564 

Attn: David E. Klein 
 Telephone: (585) 678-7444 
 Facsimile: (585) 678-7108 

email: david.kein@cbrands.com 
 With a copy to: 
 Constellation Brands, Inc. 

207 High Point Drive, Bldg. 100 
 Victor, NY 14564 
 Attn: General Counsel 

Telephone: (585) 678-7266 
 Facsimile: (585) 678-7118 
 email: tom.mullin@cbrands.com 

and: 
 Nixon
Peabody LLP 
 1300 Clinton Square 
 Rochester, NY 14604 
 Attn: Roger W. Byrd 

Telephone: (585) 263-1687 
 Facsimile: (866) 666-0233 
 email: rbyrd@nixonpeabody.com 

If the Trustee: 

Manufacturers and Traders Trust Company 
 One M&T Plaza, 7th Floor 
 Buffalo, New York 14203 

Attn: Corporate Trust Department 
 Telephone: (716) 842-4494 
 Facsimile: (716) 842-5905 

  
 7 

 If to the Escrow Agent or Financial Institution: 

Manufacturers and Traders Trust Company 
 One M&T Plaza, 7th Floor 
 Buffalo, New York 14203 

Attn: Aaron G. McManus 
 Telephone: (716) 842-4494 
 Facsimile: (716) 842-5905 

email: amcmanus@mtb.com 

Section 5.4 Governing Law; Jurisdiction. 
 This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the conflicts of law principles thereof. The Financial Institution’s
jurisdiction for purposes of Sections 8-110 and 9-304 of the UCC shall be the State of New York. 
 Section 5.5 Waiver of Jury Trial.
EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE ISSUER, THE ESCROW AGENT OR
ANY OTHER PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 Section 5.6 Entire Agreement. This Agreement
sets forth the entire agreement and understanding of the parties related to the Escrow Property. 
 Section 5.7 Amendment. This Agreement
may be amended, modified, superseded, rescinded, or canceled only by a written instrument executed by the Issuer, the Trustee and the Escrow Agent. 
 Section 5.8 Severability. If any provision of this Agreement, including any phrase, sentence, clause, section or subsection, is inoperative or unenforceable for any reason, such circumstances shall
not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to any extent
whatsoever. 
 Section 5.9 Waivers. The failure of any party to this Agreement at any time or times to require performance of any
provision under this Agreement shall in no manner affect the right at a later time to enforce the same performance. A waiver by any party to this Agreement of any such condition or breach of any term, covenant, representation, or warranty contained
in this Agreement, in any one or more instances, shall neither be construed as a further or continuing waiver of any such condition or breach nor a waiver of any other condition or breach of any other term, covenant, representation, or warranty
contained in this Agreement. 
 Section 5.10 Headings. Section headings of this Agreement have been inserted for convenience of reference
only and shall in no way restrict or otherwise modify any of the terms or provisions of this Agreement. 
 Section 5.11 Counterparts.
This Agreement may be executed in one or more counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which when executed shall be deemed to be an original, and such counterparts shall together
constitute one and the same instrument. 
 [The remainder of this page left intentionally blank.] 

  
 8 

 IN WITNESS WHEREOF, this Escrow Agreement has been duly executed as of the date first
written above. 
  

			
	CONSTELLATION BRANDS, INC.
		
	By:	 	/s/ David E. Klein
	Name:	 	David E. Klein
	Title:	 	Senior Vice President and Treasurer

  

			
	MANUFACTURERS AND TRADERS TRUST COMPANY, as Trustee
		
	By:	 	/s/ Aaron G. McManus
	Name:	 	Aaron G. McManus
	Title:	 	Vice President

  

			
	MANUFACTURERS AND TRADERS TRUST COMPANY, as Escrow Agent and Financial Institution
		
	By:	 	/s/ Aaron G. McManus
	Name:	 	Aaron G. McManus
	Title:	 	Vice President

 Signature Page to 
 Escrow Agreement 

 EXHIBIT A 
 MANUFACTURERS AND TRADERS TRUST COMPANY 
 One M&T Plaza, 7th Floor 

Buffalo, New York 14203 
 August 14, 2012 
 Constellation Brands, Inc. 

207 High Point Drive, Bldg. 100 
 Victor, NY
14564 
 Attn: David E. Klein 
 Re:
Receipt of Escrow Amount 
 Ladies and Gentlemen: 
 Manufacturers and Traders Trust Company, as escrow agent (the “Escrow Agent”), under the Escrow Agreement, dated August 14, 2012 (the “Agreement”), among
Constellation Brands, Inc. (the “Issuer”), Manufacturers and Traders Trust Company, as trustee, the Escrow Agent, and Manufacturers and Traders Trust Company, as securities intermediary, hereby acknowledges receipt pursuant to
Section 2.1(a) of the Agreement of the Initial Deposit as defined in Section 2.1(a) of the Agreement. 
  

			
	MANUFACTURERS AND TRADERS TRUST COMPANY, as Escrow Agent
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 10 

 EXHIBIT B-1 
 ANTICIPATED CONSUMMATION RELEASE CERTIFICATE 
 Reference is made to the Escrow Agreement, dated
August 14, 2012 (as currently in effect, the “Escrow Agreement”), by and among Constellation Brands, Inc. (the “Issuer”), Manufacturers and Traders Trust Company, as trustee under the Indenture (the
“Trustee”), Manufacturers and Traders Trust Company, as escrow agent (“Escrow Agent”), and Manufacturers and Traders Trust Company as securities intermediary. Capitalized terms used but not defined herein have the
meanings assigned to them in the Escrow Agreement (including by reference to Supplemental Indenture No. 2). 
 The undersigned
                                        ,
in his or her capacity as
                                        
of the Issuer, does hereby certify and agree on behalf of the Issuer that: 
 (1) the Issuer expects an Acquisition to occur in
accordance with the terms of the Acquisition Agreement (and without any amendment, waiver or modification thereof that is materially adverse to the Holders of the Notes) within five Business Days following the date hereof and the Issuer has received
or waived the GM Transaction Closing Notice (as defined in the Acquisition Agreement); and 
 (2) if an Acquisition has not been
consummated in accordance with the terms of the Acquisition Agreement (and without any amendment, waiver or modification thereof that is materially adverse to the Holders of the Notes) on or prior to the seventh Business Day following any release in
accordance with this Anticipated Consummation Release Certificate, the Issuer shall transfer all Escrow Property, by wire transfer of immediately available funds, to the Escrow Account on the following Business Day (subject to the Issuer’s
right to subsequently require a release pursuant to Section 2.3(a) of the Escrow Agreement) (which may, subject to compliance with the deadlines set forth in Section 2.3(a) of the Escrow Agreement, occur on the day the Issuer transfers the
Escrow Property back to the Escrow Account); provided, if the Issuer is in the possession of the Escrow Property on December 31, 2013 and an Acquisition has not been consummated on or before December 30, 2013, the Issuer shall transfer the
Escrow Property to the Escrow Account on December 31, 2013. 
 Pursuant to the Escrow Agreement, the Issuer hereby authorizes and directs
release by the Escrow Agent of the Escrow Property as follows on
                                        ,
201[2/3]: 
  

					
	Payee(s)	  	Wire Instructions	  	Amount
	 	  	 	  	 
	 	  	 	  	 

  

			
	CONSTELLATION BRANDS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 11 

 EXHIBIT B-2 
 CONSUMMATION CERTIFICATE 
 Reference is made to the Escrow Agreement, dated August 14, 2012
(as currently in effect, the “Escrow Agreement”), by and among Constellation Brands, Inc. (the “Issuer”), Manufacturers and Traders Trust Company, as trustee under the Indenture (the “Trustee”),
Manufacturers and Traders Trust Company, as escrow agent (“Escrow Agent”), and Manufacturers and Traders Trust Company, as securities intermediary. Capitalized terms used but not defined herein have the meanings assigned to them in
the Escrow Agreement (including by reference to Supplemental Indenture No. 2). 
 The undersigned
                                , in his or her capacity as
                                 of the Issuer, does hereby certify and agree on
behalf of the Issuer that an Acquisition has been consummated in accordance with the terms of the Acquisition Agreement (and without any amendment, waiver or modification thereof that is materially adverse to the Holders of the Notes). 

 

			
	CONSTELLATION BRANDS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 12 

 EXHIBIT C 
 REDEMPTION RELEASE CERTIFICATE 
 Reference is made to the Escrow Agreement, dated August 14,
2012 (as currently in effect, the “Escrow Agreement”), by and among Constellation Brands, Inc. (the “Issuer”), Manufacturers and Traders Trust Company, as trustee under the Indenture (the
“Trustee”), Manufacturers and Traders Trust Company, as escrow agent (“Escrow Agent”), and Manufacturers and Traders Trust Company, as securities intermediary. Capitalized terms used but not defined herein have the
meanings assigned to them in the Escrow Agreement (including by reference to Supplemental Indenture No. 2). 
 Pursuant to the Escrow
Agreement, the Issuer hereby authorizes and directs release by the Escrow Agent of all of the Escrow Property to the Paying Agent as follows on
                                , 201[2/3]: 

 

			
	 Payee:
	  	 Wire Instructions:

 
  

			
	CONSTELLATION BRANDS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 13 

 EXHIBIT D 
 PERMITTED ESCROW INVESTMENTS 
 (a) Direct obligations of, or obligations the
principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency or instrumentality thereof to the extent such obligations are backed by the full faith and credit of the United States of America),
in each case maturing within one year from the date of acquisition thereof; 
 (b) investments in commercial paper maturing
within one year from the date of acquisition thereof and having, at such date of acquisition, a credit rating of at least “A-1” from Standard & Poor’s Ratings Services, a division of The McGraw- Hill Companies, Inc., and any
successor thereto (“S&P”) or “P-1” from Moody’s Investors Service, Inc. and any successor thereto (“Moody’s”); 
 (c) marketable short-term money market and similar securities having a rating of at least “A-2” from S&P’s or “P-2” from Moody’s (or, if at the time neither
S&P’s or Moody’s shall be rating such obligations, an equivalent rating from another rating agency) and in each case maturing within one year from the date of acquisition thereof; 

(d) investments in certificates of deposit, bankers’ acceptances, time deposits and eurodollar time deposits maturing within
one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any office of any commercial bank organized under the laws of the United States of America or any state
thereof which has a combined capital and surplus and undivided profits of not less than U.S. $500,000,000; 
 (e) fully
collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) of this Exhibit D and entered into with a financial institution satisfying the criteria described in clause (d) of this
Exhibit D; 
 (f) money market funds that (i) comply with the criteria set forth in Securities and Exchange
Commission Rule 2a-7 under the Investment Company Act of 1940, as amended, and (ii) substantially all of whose assets are invested in the types of assets described in clauses (a) through (e) of this Exhibit D; 

(g) readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political
subdivision or taxing authority thereof having an “A” rating from either S&P’s or Moody’s with maturities of one year or less from the date of acquisition; and 

(h) Investments (as defined in the Senior Credit Facility) with weighted average life to maturities of one year or less from the
date of acquisition in money market funds rated “A” (or the equivalent thereof) or better by S&P’s or “A” (or the equivalent thereof) or better by Moody’s and in each case in U.S. dollars. 

  
 14 

 EXHIBIT E-1 
 CERTIFICATE AS TO AUTHORIZED SIGNATURES OF THE ISSUER 
 The specimen signatures shown below are
the specimen signatures of the individuals who have been designated as authorized representatives of Constellation Brands, Inc. and are authorized to initiate and approve transactions of all types for the Escrow Account established under the Escrow
Agreement to which this Exhibit E-1 is attached, on behalf of Constellation Brands, Inc. 
  

			
	 Name/Title
	  	 Specimen Signature

		
	 David E. Klein
 Name
	  	 /s/ David E. Klein
 Signature

		
	 Senior Vice President and Treasurer

Title
	  	
		
	 Oksana S. Dominach
 Name
	  	 /s/ Oksana S. Dominach

Signature

		
	 Vice President and Assistant Treasurer

Title
	  	
		
	 Perry R. Humphrey
 Name
	  	 /s/ Perry R. Humphrey

Signature

		
	 Senior Vice President, Tax
 Title
	  	
		
	 David S. Sorce
 Name
	  	 /s/ David S. Sorce
 Signature

		
	 Senior Vice President, Corporate Counsel and Secretary

Title
	  	
		
	 David M. Thomas
 Name
	  	 /s/ David M. Thomas

Signature

		
	 Senior Vice President, Finance and Controller

Title
	  	

 EXHIBIT E-2 
 CERTIFICATE AS TO AUTHORIZED SIGNATURES OF THE TRUSTEE 
 The specimen signatures shown below are
the specimen signatures of the individuals who have been designated as authorized representatives of the Trustee and are authorized to initiate and approve transactions of all types for the Escrow Account established under the Escrow Agreement to
which this Exhibit E-2 is attached, on behalf of the Trustee. 
  

			
	 Name/Title
	  	 Specimen Signature

		
	 Aaron G. McManus
 Name
	  	 /s/ Aaron G. McManus

Signature

		
	 Vice President
 Title
	  	
		
	 Michelle M. Wojciechowicz
 Name
	  	 /s/ Michelle M. Wojciechowicz

Signature

		
	 Vice President
 Title
	  	
		
	 Steven J. Wattie
 Name
	  	 /s/ Steven J. Wattie

Signature

		
	 Vice President
 Title
	  	
		
	      

Name
	  	      

Signature

		
	      

Title
	  	
		
	      

Name
	  	      

Signature

		
	      

Title
	  	

  
 16 

 SCHEDULE I 
 ESCROW ACCOUNT 
 Manufacturers and Traders Trust Company 

MFRS BUF 
 ABA #022000046 

A/C 3088001950200 
 A/C Name: Trust Division

 f/f/c: 1035130 - Constellation Brands 

Attn: Aaron McManus 

  
 17Form of Tax Receivable Agreement

 Exhibit 10.25 
 FORM OF 
 INCOME TAX RECEIVABLE AGREEMENT 

dated as of 
 [—] 

 Table of Contents 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I
 DEFINITIONS
	  			
	 Section 1.01.
	  	 Definitions
	  	 	1	  
		
	 ARTICLE II
 DETERMINATION OF REALIZED TAX BENEFIT
  
	  			
	  			
	 Section 2.01.
	  	 Pre-IPO NOL Utilization
	  	 	8	  
	 Section 2.02.
	  	 Tax Benefit Schedule
	  	 	8	  
	 Section 2.03.
	  	 Procedures, Amendments
	  	 	8	  
		
	ARTICLE III	  			
	 TAX BENEFIT PAYMENTS
  
	  			
	 Section 3.01.
	  	 Payments
	  	 	9	  
	 Section 3.02.
	  	 No Duplicative Payments
	  	 	10	  
	 Section 3.03.
	  	 Special Rule for Compensatory Payments
	  	 	11	  
		
	 ARTICLE IV
 TERMINATION
  
	  			
	  			
	 Section 4.01.
	  	 Termination, Breach of Agreement, Change of Control
	  	 	12	  
	 Section 4.02.
	  	 Early Termination Schedule
	  	 	13	  
	 Section 4.03.
	  	 Payment upon Early Termination
	  	 	13	  
		
	 ARTICLE V
 LATE PAYMENTS, ETC.
  
	  			
	  			
	 Section 5.01.
	  	 Late Payments by the Corporation
	  	 	14	  
	 Section 5.02.
	  	 Compliance with Indebtedness
	  	 	14	  
		
	 ARTICLE VI
 CONSISTENCY; COOPERATION
  
	  			
	  			
	 Section 6.01.
	  	 The Existing Stockholders Representative’s Participation in the Corporation Tax Matters
	  	 	15	  
	 Section 6.02.
	  	 Consistency
	  	 	15	  
	 Section 6.03.
	  	 Cooperation
	  	 	15	  
		
	 ARTICLE VII
 MISCELLANEOUS
  
	  			
	  			
	 Section 7.01.
	  	 Notices
	  	 	16	  
	 Section 7.02.
	  	 Counterparts
	  	 	16	  
	 Section 7.03.
	  	 Entire Agreement; Third Party Beneficiaries
	  	 	17	  

  
 i 

							
	 Section 7.04.
	  	 Governing Law
	  	 	17	  
	 Section 7.05.
	  	 Severability
	  	 	17	  
	 Section 7.06.
	  	 Successors; Assignment; Amendments; Waivers
	  	 	17	  
	 Section 7.07.
	  	 Titles and Subtitles
	  	 	18	  
	 Section 7.08.
	  	 Resolution of Disputes
	  	 	18	  
	 Section 7.09.
	  	 Reconciliation
	  	 	19	  
	 Section 7.10.
	  	 Withholding
	  	 	20	  
	 Section 7.11.
	  	 Affiliated Corporations; Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets
	  	 	20	  
	 Section 7.12.
	  	 Confidentiality
	  	 	21	  
	 Section 7.13.
	  	 Headings
	  	 	21	  
	 Section 7.14.
	  	 Appointment of Existing Stockholders Representative
	  	 	22	  

  

  
 ii 

 This INCOME TAX RECEIVABLE AGREEMENT (as amended from time to time, this
“Agreement”), dated as of [—], is hereby entered into by and among Berry Plastics Group, Inc., a Delaware corporation (the “Corporation”) and [Apollo
entity], a [—] (the “Existing Stockholders Representative”). 

RECITALS 
 WHEREAS, the
Existing Stockholders (as defined below), in the aggregate, hold 100% of the capital stock of the Corporation, directly or indirectly; 

WHEREAS, the Corporation will become a public company pursuant to the IPO (as defined below); 
 WHEREAS, after the IPO, the Corporation and its Subsidiaries (the “Taxable Entities” and each a “Taxable Entity”) will have net operating losses and AMT
credit carryforwards (including AMT credits that arise after the IPO as a result of limitations on the use of NOLs under the AMT) (collectively, “NOLs”) that relate to periods (or portions thereof) ending on or prior to the
date of the IPO (the “Pre-IPO NOLs”); 
 WHEREAS, the Pre-IPO NOLs may reduce the reported liability for Taxes (as
defined below) that the Taxable Entities might otherwise be required to pay; 
 WHEREAS, the income, gain, loss expense and other Tax (as
defined below) items of the Taxable Entities may be affected by Imputed Interest (as defined below), if any; 
 WHEREAS, the parties to this
Agreement desire to make certain arrangements with respect to the effect of the Pre-IPO NOLs and Imputed Interest (as defined below) on the reported liability for Taxes of the Taxable Entities; 

NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby,
the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.01. Definitions. As used in this
Agreement, the terms set forth in this Article I shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined). 
 “Advisory Firm” means (i) Ernst & Young LLP or (ii) any other law or accounting firm that is (A) nationally recognized as being expert in Tax matters and
(B) that is agreed to by the Corporation and the Existing Stockholders Representative. 

 “Advisory Firm Report” shall mean (a) an attestation report from the Advisory
Firm expressing an opinion on management’s assertion as to whether the Tax Benefit Schedule and/or the Early Termination Schedule has been prepared, in all material respects, in accordance with the Agreement, or (b) another type of report
or letter from the Advisory Firm related to whether the information in the Tax Benefit Schedule and/or the Early Termination Schedule has been prepared in a manner consistent with the terms of the Agreement. 

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries,
Controls, is Controlled by, or is under common Control with, such first Person. 
 “Agreed Rate” means LIBOR plus 300
basis points. 
 “Agreement” is defined in the preamble of this Agreement. 

“Amended Schedule” is defined in Section 2.03(b) of this Agreement. 

“Acquired NOLs” means any NOL of any corporation or other entity acquired by the Corporation or any of its Subsidiaries by
purchase, merger, or otherwise (in each case, from a Person or Persons other than the Corporation and its Subsidiaries and, in each case, whether or not such corporation or other entity survives) after the IPO that relate to periods (or portions
thereof) ending on or prior to the date of such acquisition. 
 “Award Holder” means a holder of stock options or stock
appreciation rights of the Corporation (each, a “Stock Award”) immediately prior to the IPO. 
 A “Beneficial
Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of,
such security and/or (ii) investment power, which includes the power to dispose of, or to direct the disposition of, such security. The terms “Beneficially Own” and “Beneficial Ownership” shall
have correlative meanings. 
 “Board” means the board of directors of the Corporation. 

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of the
United States of America or the State of New York shall not be regarded as a Business Day. 
 “Change of Control” means:

 (i) a merger, reorganization, consolidation or similar form of business transaction directly involving the Corporation or
indirectly involving the Corporation through one or more intermediaries unless, immediately following such transaction, more than 50% of the voting power of the then outstanding voting stock or other equities of the Corporation resulting from
consummation of such transaction (including, without limitation, any parent or ultimate parent corporation of such Person that as a result of such transaction owns directly or indirectly the Corporation and all or substantially all of the
Corporation’s assets) is held by the existing Corporation equityholders or their Affiliates (determined immediately prior to such transaction and related transactions); or 

  
 2 

 (ii) a transaction in which the Corporation, directly or indirectly, sells, assigns,
conveys, transfers, leases or otherwise disposes of all or substantially all of its assets to another Person other than an Affiliate; or 
 (iii) a transaction in which there is an acquisition of control of the Corporation by a Person or group of Persons (other than Existing Stockholders and their Affiliates). For purposes of this definition,
the term “control” shall mean the possession, directly or indirectly, of the power to either (i) vote more than 50% of the securities having ordinary voting power for the election of directors (or comparable positions in the case of
partnerships and limited liability companies), or (ii) direct or cause the direction of the management and policies of such Person whether by contract or otherwise (for the avoidance of doubt, consent rights do not constitute control for the
purpose of this definition); or 
 (iv) a transaction in which individuals who constitute the Board of the Corporation (the
“Incumbent Directors”) cease for any reason to constitute at least a majority of the Board of the Corporation, provided that any person becoming a director subsequent to the effective date of this Agreement, whose election or
nomination for election is either (A) contemplated by a written agreement among equityholders of the Corporation on the effective date of this Agreement or (B) was approved by a vote of at least two-thirds of the Incumbent Directors then
on the Board (either by a specific vote or by approval of the proxy statement of the Corporation in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided,
however, that no individual initially elected or nominated as a director of the Corporation as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies or
consents by or on behalf of any Person other than the Board shall be deemed to be an Incumbent Director; or 
 (v) the
liquidation or dissolution of the Corporation. 
 “Code” means the Internal Revenue Code of 1986, as amended.

 “Combined Taxation Group” means any consolidated, combined or unitary group or any profit and/or loss sharing,
affiliated group relief, group payment or similar group or fiscal unity for Tax purposes (by election or otherwise). 
 “Compensatory
Payment” means any payment hereunder made to an Award Holder in respect of any Ownership Percentage attributable to a Stock Award. 

“Compensatory Payment Settlement Date” means the fifth anniversary of the date of this Agreement. 

  
 3 

 “Control” means the possession, direct or indirect, of the power to direct or cause
the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Corporation” is defined in the preamble of this Agreement. 
 “Default Rate” means LIBOR plus 500 basis points. 

“Determination” shall have the meaning ascribed to such term in Section 1313(a) of the Code or similar provision of state,
local and foreign tax law, as applicable, or any other event (including the execution of a Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax. 
 “Divestiture” means the sale of any Taxable Entity, other than any such sale that is or is part of a Change of Control. 
 “Early Termination Event” means (i) a breach of this Agreement to which Section 4.01(b) applies and (ii) a Change of Control. 

“Early Termination Date” means (i) in the event of a breach of this Agreement to which Section 4.01(b) applies, the
date of such breach, (ii) in the event of a Change of Control, the effective date of such Change of Control and (iii) in the event of a Divestiture, the effective date of such Divestiture. 

“Early Termination Payment” is defined in Section 4.03(b) of this Agreement. 

“Early Termination Rate” means LIBOR plus 100 basis points. 
 “Early Termination Schedule” is defined in Section 4.02 of this Agreement. 
 “Expert” is defined in Section 7.09 of this Agreement. 

“Existing Stockholders” means the stockholders of the Corporation immediately prior to the IPO (including, without limitation,
the Existing Stockholders set forth on Exhibit — to this Agreement) and any Award Holders. 

“Existing Stockholders Representative” is defined in the Preamble of this Agreement. 

“Imputed Interest” shall mean any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and any
similar provision of state, local and foreign tax law with respect to the Corporation’s payment obligations under this Agreement. 

“Individual Stockholder” means any Existing Stockholder that is an individual. 

“Interest Amount” is defined in Section 3.01(a) of this Agreement. 
 “IPO” shall mean the initial public offering of Common Stock of the Corporation pursuant to the Registration Statement. 

  
 4 

 “ITR Payment” means any Annual Tax Payment, Early Termination Payment, Divestiture
Acceleration Payment or Individual Termination Payment required to be made by the Corporation to the Existing Stockholders under this Agreement. 
 “LIBOR” means for each month (or portion thereof) during any period, an interest rate per annum equal to the rate per annum reported, on the date two days prior to the first day of
such month, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page “LIBO” or by any other publicly available source of such market rate) for London interbank offered rates for
U.S. dollar deposits for such month (or portion thereof). 
 “Material Objection Notice” has the meaning set forth in
Section 4.02. 
 “Net Tax Benefit” is defined in Section 3.01(b) of this Agreement. 

“NOLs” is defined in the preamble of this Agreement. 
 “Objection Notice” has the meaning set forth in Section 2.03(a). 

“Other NOLs” means any Post-IPO NOLs and any Acquired NOLs. 
 “Ownership Percentage” means, in the case of any Existing Stockholder, a fraction where the numerator is the sum of (a) the number of shares in the Corporation owned by such
Existing Stockholder as of immediately prior to the IPO, and (b) the aggregate number of shares subject (as of immediately prior to the IPO) to Stock Awards that were held by such Existing Stockholder as of immediately prior to the IPO
(provided that if the applicable Existing Stockholder forfeits a Stock Award prior to the vesting date of the applicable Stock Award, the shares subject to such Stock Award shall thereafter be disregarded for purposes of this clause (b)), and the
denominator is the sum of (x) the number of shares in the Corporation outstanding as of immediately prior to the IPO, and (y) the aggregate number of shares subject (as of immediately prior to the IPO) to the Stock Awards that were held by
all Existing Stockholders as of immediately prior to the IPO (provided that if an Existing Stockholder forfeits a Stock Award prior to the vesting date of the applicable Stock Award, the shares subject to such Stock Award shall be disregarded for
purposes of this clause (y)). 
 “Payment Date” means any date on which a payment is required to be made pursuant to
this Agreement. 
 “Person” means any individual, corporation, firm, partnership, joint venture, limited liability
company, estate, trust, business association, organization, governmental entity or other entity. 
 “Post-IPO NOLs”
means any NOL arising in a Taxable Year or portion thereof beginning after the date of the IPO. 
 “Pre-IPO NOLs” is
defined in the preamble of this Agreement; provided, however, that in order to determine whether an NOL is a Pre-IPO NOL or a Post-IPO NOL, the Taxable Year of the relevant Taxable Entity that includes the effective date of the IPO (the
“Straddle Year”) shall be deemed to end as of the close of such effective date, provided, further, however, that the Chief 

  
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Executive Officer of the Corporation, the Board and the Existing Stockholders Representative shall, acting reasonably, together determine the amount of any NOL arising in the Straddle Year, or
any portion thereof, that is included in the amount of Pre-IPO NOLs; provided further, however, that any Transferred NOLs taken into account in calculating a Divestiture Acceleration Payment shall not be considered Pre-IPO NOLs. 

“Realized Tax Benefit” means, for a Taxable Year, the reduction in the liability for (i) federal income Taxes of the
Corporation, and (ii) state and foreign income Taxes of each Taxable Entity, in each case, for such Taxable Year resulting from the Pre-IPO NOLs and the deduction attributable to Imputed Interest, if any, under the Agreement (giving effect to
the principles of Section 3.02). If all or a portion of the liability for Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax
Benefit unless and until there has been a Determination. For the absence of doubt, for purposes of clause (i), state and foreign NOLs that are reflected in the Pre-IPO NOLs shall be disregarded such that the calculation of federal income Taxes
before the reduction resulting from the Pre-IPO NOLs reflects any deduction (or other benefit) for state or foreign income Taxes that would be available in the absence of such state and foreign NOLs. 

“Reconciliation Dispute” has the meaning set forth in Section 7.09(a) of this Agreement. 

“Reconciliation Procedures” shall mean those procedures set forth in Section 7.09 of this Agreement. 

“Registration Statement” means the registration statement on Form S-1 (File
No. 333-[—]) of the Corporation. 
 “Schedule” means any Tax
Benefit Schedule and any Early Termination Schedule. 
 “Subsidiaries” means, with respect to any Person, as of any date
of determination, any other Person as to which such Person, owns, directly or indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar interest
of such Person. 
 “Tax Benefit” is defined in Section 3.01(b) of this Agreement. 

“Tax Benefit Schedule” is defined in Section 2.02 of this Agreement. 

“Tax Return” means any return, declaration, report or similar statement required to be filed with respect to Taxes (including any
attached schedules), including, without limitation, any information return, claim for refund, amended return and declaration of estimated Tax. 

“Taxable Entity” is defined in the Preamble to this Agreement. 
 “Taxable Entity Return” means the federal, state or foreign Tax Return, as applicable, of a Taxable Entity filed with respect to Taxes of any Taxable Year. 

“Taxable Year” means a taxable year as defined in Section 441(b) of the Code or comparable section of state, local or
foreign tax law, as applicable, (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made) ending on or after the date hereof. 

  
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 “Taxes” means any and all U.S. federal, state, local and foreign taxes, assessments
or similar charges measured with respect to net income or profits and any interest related to such Tax. 
 “Taxing
Authority” shall mean any domestic, foreign, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing
authority or any other authority exercising Tax regulatory authority. 
 “Transferred NOLs” means, in the event of a
Divestiture, the Pre-IPO NOLs attributable to the Taxable Entity that is sold in such Divestiture to the extent such Pre-IPO NOLs are transferred with such Taxable Entity under applicable Tax law following the Divestiture (disregarding any
limitation on the use of such Pre-IPO NOLs as a result of the Divestiture) and do not remain under applicable Tax law with the Corporation or any of its Subsidiaries (other than the Taxable Entity that is sold in such Divestiture). 

“Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to time
(including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 
 “Valuation
Assumptions” shall mean, as of an Early Termination Date, the assumptions that (i) in each Taxable Year ending on or after such Early Termination Date, each Taxable Entity will generate an amount of taxable income in accordance
with management’s preexisting projections (or, in the absence of such projections, as projected in good faith by management in a manner consistent with their projections for other purposes), (ii) the utilization of the Pre-IPO NOLs and the
Imputed Interest for such Taxable Year or future Taxable Years, as applicable, will be determined based on the Tax laws in effect on the Early Termination Date and (iii) the federal income tax rates and state, local and foreign income tax rates
that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date (or, with respect to any Taxable Year for which such federal income tax rates
or state, local and foreign income tax rates are not specified by the Code and other law as in effect on the Early Termination Date, such federal income tax rates or state, local and foreign income tax rates that are in effect on the Early
Termination Date). For the purposes of clause (i) of this definition, the taxable income projections made by the management of the Corporation shall be subject to the Reconciliation Procedures. Such assumptions shall relate only to the
projected income and loss of the Taxable Entities (extending the same beyond the years of projection, as applicable, at the same imputed growth rate), and shall include only the utilization of tax attributes subject to the Agreement and not any
anticipated future attributes that might result from acquisitions, dispositions, recapitalizations or refinancings. For the avoidance of doubt, in the event of a Change of Control or Divestiture, such assumptions shall not take into account any
changes in the relevant Taxable Entities’ stand alone tax position that might result from the transaction giving rise to the Change of Control or Divestiture. 

  
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 ARTICLE II 
 DETERMINATION OF REALIZED TAX BENEFIT 
 Section 2.01. Pre-IPO
NOL Utilization. The Corporation, on the one hand, and the Existing Stockholders, on the other hand, acknowledge that the Taxable Entities may utilize the Pre-IPO NOLs to reduce the amount of Taxes that the Taxable Entities would otherwise be
required to pay in the future. 
 Section 2.02. Tax Benefit Schedule. Within ninety
(90) calendar days after the filing of the U.S. federal income tax return of the Corporation for any federal Taxable Year (each such federal Taxable Year together with the state or foreign Taxable Years ending in the same calendar year as such
federal Taxable Year, a “Subject Taxable Year,” and such ninetieth day the “Schedule Delivery Date”), the Corporation shall provide to the Existing Stockholders Representative a schedule showing, for
the Corporation and for each Taxable Entity, in the case of any relevant Tax Return that has been filed after the IPO and prior to the Schedule Delivery Date and has not previously been the subject of this Section 2.02 (but in the case of any
state or foreign Tax Return, only to the extent such Tax Return has been filed on or prior to the 60th day following the filing of the U.S. federal income tax return of the Corporation for the Subject Taxable Year (the “Specified Filing Date”)), in reasonable detail, (i) the
calculation of the Realized Tax Benefit for the Subject Taxable Year, (ii) the calculation of any payment to be made to the Existing Stockholders pursuant to Article III with respect to the Subject Taxable Year, (iii) the calculation of
any Realized Tax Benefit for the Taxable Year immediately preceding the Subject Taxable Year (the “Rollover Taxable Year”), in the case of any relevant Tax Return that was filed following the Specified Filing Date relating to
the Rollover Taxable Year, and (iv) the calculation of any payment to be made to the Existing Stockholders pursuant to Article III with respect to the Rollover Taxable Year (collectively a “Tax Benefit Schedule”).
Concurrently the Corporation shall also deliver to the Existing Stockholders Representative all supporting information (including work papers and valuation reports) reasonably necessary to support the calculation of such payment. The Schedule will
become final as provided in Section 2.03(a) and may be amended as provided in Section 2.03(b) (subject to the procedures set forth in Section 2.03(a)). 
 Section 2.03. Procedures, Amendments. 
 (a) Procedure.
Whenever the Corporation delivers to the Existing Stockholders Representative an applicable Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section 2.03(b), and including any Early Termination Schedule or
amended Early Termination Schedule, the Corporation shall also (x) deliver to the Existing Stockholders Representative schedules, valuation reports, if any, and work papers providing reasonable detail regarding the preparation of the Schedule
and an Advisory Firm Report related to such Schedule (the cost and expense of which shall be paid by the Corporation) and (y) allow the Existing Stockholders Representative reasonable access at no cost to the appropriate representatives at each
of the Corporation and the Advisory Firm in connection with a review of such Schedule. The applicable Schedule shall become final and binding on all parties unless the Existing Stockholders Representative, within thirty calendar days after receiving
any Schedule or amendment thereto, provides the Corporation with notice of a material objection to such 

  
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Schedule (“Objection Notice”) made in good faith or unless the parties agree in writing that such Schedule shall have become final and binding prior to such thirty day
period. If the parties, for any reason, are unable to successfully resolve the issues raised in any notice within thirty calendar days of receipt by the Corporation of such notice, the Corporation and the Existing Stockholders Representative shall
employ the reconciliation procedures described in Section 7.09 of this Agreement (the “Reconciliation Procedures”). 
 (b) Amended Schedule. The applicable Schedule for any Taxable Year may be amended from time to time by the Corporation (i) in connection with a Determination affecting such Schedule,
(ii) to correct material inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to the Existing Stockholders Representative,
(iii) to comply with the Expert’s determination under the Reconciliation Procedures, or (iv) to reflect a material change (relative to the amounts in the original Schedule) in the Realized Tax Benefit for such Taxable Year
attributable to an amended Tax Return filed for such Taxable Year, in each case with respect to any Taxable Entity (such amended Schedule, an “Amended Schedule”); provided, however, that such a change under
clause (i) attributable to an audit of a Tax Return by an applicable Taxing Authority shall not be taken into account on an Amended Schedule unless and until there has been a Determination with respect to such change. The Corporation shall
provide any Amended Schedule to the Existing Stockholders Representative within thirty calendar days of the occurrence of an event referred to in clauses (i) through (iv) of the preceding sentence, and any such Amended Schedule shall be
subject to the approval procedures described in Section 2.03(a). 
 ARTICLE III 

TAX BENEFIT PAYMENTS 
 Section 3.01. Payments. 
 (a) Except as provided in
Section 3.03 and Section 5.02, within thirty days after the end of any U.S. federal Subject Taxable Year, the Corporation (on its own behalf and on behalf of any other Taxable Entity) shall pay to each Existing Stockholder its share (based
on such Existing Stockholder’s Ownership Percentage) of the Interest Amount (as defined below) and of the Annual Tax Payment for the Subject Taxable Year provided that no payment shall be made pursuant to this Section 3.01 to any
Individual Stockholder who received at any time prior to the date of such payment an Individual Termination Payment pursuant to Section 4.01(e). The “Annual Tax Payment” for a Subject Taxable Year means an amount, not
less than zero, equal to (i) the Estimated Tax Benefit determined pursuant to Section 3.01(c) for such Subject Taxable Year, plus (ii) the excess, if any, of the Tax Benefit for a Subject Taxable Year prior to the Subject Taxable Year
over the Estimated Tax Benefit for such prior Subject Taxable Year, to the extent any such excess amount was not previously taken into account pursuant to this Section 3.01(a)(ii) to increase the Annual Tax Payment for a Subject Taxable Year
prior to the Subject Taxable Year, minus (iii) the excess, if any, of the Estimated Tax Benefit for a Subject Taxable Year prior to the Subject Taxable Year over the Tax Benefit for such prior Subject Taxable Year, to the extent any such excess
amount was not previously taken into account pursuant to this Section 3.01(a)(iii) to reduce the Annual Tax Payment for a Subject Taxable Year prior to the Subject Taxable Year, plus (iv) the excess of the Realized Tax Benefit required to
be reflected on an Amended Schedule for a Subject Taxable Year prior to the Subject Taxable Year over the Realized Tax Benefit required to be reflected on the Tax Benefit Schedule for such prior Subject Taxable Year, to the extent any such excess
amount was not previously taken into account pursuant to this Section 3.01(a)(iv) to increase the Annual Tax Payment for a Subject Taxable Year prior to the Subject Taxable Year, minus (v) the excess of the Realized Tax Benefit required to
be reflected on a Tax Benefit Schedule for a Subject Taxable Year prior to the Subject Taxable Year over the Realized Tax Benefit required to be reflected on 

  
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an Amended Schedule for such prior Subject Taxable Year, to the extent any such excess amount was not previously taken into account pursuant to this Section 3.01(a)(v) to reduce the Annual
Tax Payment for a Subject Taxable Year prior to the Subject Taxable Year. For the avoidance of doubt, no Annual Tax Payment shall be made, nor Tax Benefit determined, in respect of estimated tax payments, including, without limitation, estimated
federal income tax payments. For the further avoidance of doubt, the Existing Stockholders shall not be required to return any portion of any previously made Annual Tax Payment or other ITR Payment. The “Interest Amount”
shall equal the interest on any excess amount described in Section 3.01(a)(ii) calculated at the Agreed Rate from the Payment Date for the Annual Tax Payment in which the relevant Estimated Tax Benefit is taken into account until the Payment
Date for the Annual Tax Payment in which the relevant Tax Benefit is taken into account. Each payment pursuant to this Section 3.01(a) shall be made by wire transfer of immediately available funds to a bank account of the applicable Existing
Stockholder previously designated by the Existing Stockholder to the Corporation or as otherwise agreed by the Corporation and the Existing Stockholder. 
 (b) A “Tax Benefit” for a Subject Taxable Year means an amount, not less than zero, equal to 85% of: (i) the Taxable Entities’ Realized Tax Benefit, if any,
required to be reflected on the Tax Benefit Schedule for the Subject Taxable Year , plus (ii) the Taxable Entities’ Realized Tax Benefit, if any, for the Rollover Taxable Year, if any, to the extent required to be reflected on the Tax
Benefit Schedule for the Subject Taxable Year (as set forth in Section 2.02(iii)). 
 (c) The “Estimated
Tax Benefit” for a Subject Taxable Year means an amount, not less than zero, equal to 85% of the Company’s reasonable good faith estimate of the Taxable Entities’ Realized Tax Benefit, if any, for the Subject Taxable Year.

 Section 3.02. No Duplicative Payments. It is intended that the provisions of this Agreement will not result
in duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement provide that 85% of the Taxable Entities’ Realized Tax Benefit for all Taxable Years be paid to
the Existing Stockholders pursuant to this Agreement. Carryovers or carrybacks of any NOL or other tax item shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of Tax law, as
applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type; provided, however, that Pre-IPO NOLs treated as resulting in a Realized Tax Benefit for one Taxable Year shall not be treated as resulting in
a Realized Tax Benefit for any other Taxable Year, and, for purposes of determining the Realized Tax Benefit for any Taxable Year, each Taxable Entity shall be assumed (a) to utilize any item of loss, deduction or credit arising in such Taxable
Year (and permitted to be utilized in such Taxable Year) before carrying back or carrying forward to such Taxable Year any NOL that is permitted to be so carried back or carried forward, (b) to utilize any available Pre-IPO NOL that

  
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is permitted (or, for the absence of doubt, that would be so permitted but for such Other NOL) to be carried back or carried forward to such Taxable Year before utilizing any Other NOL, and
(c) to utilize any Pre-IPO NOL in the first Taxable Year in which such Pre-IPO NOL is permitted to be utilized; provided, further, however, that, notwithstanding any other provision, the Chief Executive Officer of the Corporation, the Board and
the Existing Stockholders Representative shall, acting reasonably, together determine the extent to which a Pre-IPO NOL can be carried back or carried forward to a Straddle Year or any portion thereof. If a carryover or carryback of any Tax item
includes a portion that is attributable to the Pre-IPO NOLs and another portion that is not, the Corporation shall be assumed to utilize the portion attributable to the Pre-IPO NOLs before utilizing such other portion. The provisions of this
Agreement shall be construed in the appropriate manner so that such intentions are realized. 

Section 3.03. Special Rule for Compensatory Payments. 

(a) General Rule. Notwithstanding any other provision of this Agreement, no Compensatory Payments shall, except as provided in
Section 3.03(b) and Section 3.03(c), be made under this Agreement other than on the Compensatory Payment Settlement Date. On the Compensatory Payment Settlement Date, the Corporation shall pay to each Existing Stockholder an amount equal
to the sum of (x) all Compensatory Payments that, but for this Section 3.03, would have been made to such Existing Stockholder prior to the Compensatory Payment Settlement Date, plus interest (at a rate of 120% of the applicable federal
long-term rate (as prescribed under Section 1274(d) of the Code)) on each such Compensatory Payment from the date such payment would have been made (absent this Section 3.03) through the Compensatory Payment Settlement Date, and (y) an
amount equal to the Corporation’s good faith estimate of the present value, discounted at the Early Termination Rate as of the Compensatory Payment Settlement Date, of all Compensatory Payments that would have been made hereunder (absent this
Section 3.03) to the applicable Existing Stockholder subsequent to the Compensatory Payment Settlement Date. No Existing Stockholder shall have a right to receive any Compensatory Payments (other than the payment contemplated by the preceding
sentence) with respect to any ITR Payments made subsequent to the Compensatory Payment Settlement Date. 
 (b) Change of
Control. Notwithstanding any provision of Section 3.03(a), in the event of a Change of Control that constitutes a “change in control event” (within the meaning of Section 409A of the Code) prior to the Compensatory Payment
Settlement Date, the Compensatory Payment Settlement Date shall be deemed to be the date on which such triggering event occurs. 

(c) Limited Early Cashout. The Corporation, in its sole discretion, may deem the Compensatory Payment Settlement Date to be a
date prior to the fifth anniversary of the date of this Agreement, but only to the extent permitted by Treasury Regulation Section 1.409A-3(j)(4). 
 (d) Special Rules Affect Only Timing. For clarity, for purposes of determining amounts that would be payable pursuant to Article II, this Article III (other than this Section 3.03) and
Article IV in respect of portions of Ownership Percentage attributable to Stock Awards, all determinations shall be made as if all Compensatory Payments that would, absent this Section 3.03, have been made prior to the date of the applicable
determination had in fact been made on the dates they would have been made absent this Section 3.03. 

  
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 (e) [Special Forfeiture Rule. In the event that an Existing Stockholder forfeits a Stock Award prior
to the vesting date of the applicable Stock Award but subsequent to the date of deemed receipt of a Compensatory Payment, such Compensatory Payment (and all interest thereon) shall be forfeited concurrently with the forfeiture of the underlying
Stock Award and shall not be distributed pursuant to this Section 3.03.] 
 ARTICLE IV 

TERMINATION 
 Section 4.01. Termination, Breach of Agreement, Change of Control. 

(a) This Agreement shall terminate at the time that all Annual Tax Payments have been made to the Existing Stockholders under this
Agreement. 
 (b) Subject to Section 3.03, in the event that the Corporation breaches any of its material obligations
under this Agreement, whether as a result of failure to make any payment when due (as described below), failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case
commenced under the Bankruptcy Code or otherwise, then all obligations hereunder shall be accelerated and the Corporation shall pay to the Existing Stockholders (1) the Early Termination Payment, (2) any Annual Tax Payment agreed to by the
Corporation and the Existing Stockholders as due and payable but unpaid as of the Early Termination Date and (3) any Annual Tax Payment due for the Taxable Year ending prior to, with or including the date of a breach. Notwithstanding the
foregoing, in the event that the Corporation breaches this Agreement, the Existing Stockholders shall be entitled to elect to receive the amounts set forth in (1), (2) and (3) above or to seek specific performance of the terms hereof. In
the event of a breach of a material obligation under this Agreement, the Early Termination Payment shall be calculated utilizing the Valuation Assumptions. The parties agree that the failure to make any payment due pursuant to this Agreement within
six months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this
Agreement to make a payment due pursuant to this Agreement within six months of the date such payment is due, provided that in the event that payment is not made within six months of the date such payment is due, the Existing Stockholders (through
the Existing Stockholders Representative) shall be required to give written notice to the Corporation that the Corporation has breached its material obligations and so long as such payment is made within five Business Days of the delivery of such
notice to the Corporation, the Corporation shall no longer be deemed to be in material breach of its obligations under this Agreement. 
 (c) Change of Control. Subject to Section 3.03, in the event of a Change of Control, then all obligations hereunder shall be accelerated and the Corporation shall pay to the Existing
Stockholders (1) the Early Termination Payment, (2) any Annual Tax Payment agreed to by the Corporation and the Existing Stockholders as due and payable but unpaid as of the 

  
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Early Termination Date and (3) any Annual Tax Payment due for any Taxable Year ending prior to, with or including the effective date of a Change of Control. In the event of a Change of
Control, the Early Termination Payment shall be calculated utilizing the Valuation Assumptions. 
 (d) Divestiture
Acceleration Payment. Subject to Section 3.03, in the event of a Divestiture, the Corporation shall pay to the Existing Stockholders the Divestiture Acceleration Payment in respect of such Divestiture, which shall be calculated utilizing
the Valuation Assumptions. 
 (e) Elective Individual Termination. Subject to Section 3.03, except as provided
in Section 5.02, the Corporation may, as determined by the Chief Executive Officer of the Corporation, elect to terminate the rights of any Individual Stockholder under this Agreement by paying to such Individual Stockholder a termination
payment (the “Individual Termination Payment”) as reasonably determined by the Chief Executive Officer of the Corporation, provided that such election and the amount of such Individual Termination Payment shall be subject to
the consent of the Board and the Existing Stockholders Representative and shall, as reasonably practical, use the Valuation Assumptions (substituting references to the date of such Individual Termination Payment for references to the Early
Termination Date in the definition of Valuation Assumptions). 
 Section 4.02. Early Termination Schedule. In
the event of a Change of Control or a Divestiture, the Corporation shall deliver to the Existing Stockholders Representative no later than sixty calendar days prior to such Change of Control or Divestiture, as applicable a schedule (the
“Early Termination Schedule”) showing in reasonable detail the information required pursuant to the penultimate sentence of Section 2.02 and the calculation of the Early Termination Payment or the Divestiture
Acceleration Payment, respectively (including the projections of the Taxable Entities’ taxable income under clause (i) of the Valuation Assumptions). The Early Termination Schedule shall become final and binding on all parties unless the
Existing Stockholders Representative, within fifteen calendar days after receiving the Early Termination Schedule provides the Corporation with notice of a material objection to such Schedule made in good faith (“Material Objection
Notice”). If the parties for any reason are unable to successfully resolve the issues raised in such notice within fifteen calendar days after receipt by the Corporation of the Material Objection Notice, the Corporation and the Existing
Stockholders Representative shall employ the Reconciliation Procedures as described in Section 7.09 of this Agreement. 

Section 4.03. Payment upon Early Termination. (a) Subject to Section 3.03 and except as provided in
Section 5.02, no later than the Early Termination Date, the Corporation shall pay to each Existing Stockholder its share (based on such Existing Stockholder’s Ownership Percentage) of an amount equal to the Early Termination Payment or
Divestiture Acceleration Payment and any other payment required to be made pursuant to Sections 4.01(b) and (c). Such payment shall be made by wire transfer of immediately available funds to a bank account designated by the applicable Existing
Stockholders or as otherwise agreed by the Corporation and the Existing Stockholder. 
 (b) The “Early
Termination Payment” as of the Early Termination Date (other than an Early Termination Date arising under clause (iii) of the definition thereof) shall equal 

  
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with respect to the Existing Stockholders the present value, discounted at the Early Termination Rate as of such date, of all Annual Tax Payments that would be required to be paid by the
Corporation to the Existing Stockholders beginning from the Early Termination Date assuming the Valuation Assumptions are applied, provided that in the event of a Change of Control, the Early Termination Payment shall be calculated without giving
effect to any limitation on the use of the Pre-IPO NOLs resulting from the Change of Control. For purposes of calculating the present value pursuant to this Section 4.03(b) of all Annual Tax Payments that would be required to be paid, it shall
be assumed that absent the Early Termination Event all Annual Tax Payments would be paid on the due date (without extensions) for filing the relevant Taxable Entity Return with respect to Taxes for each Taxable Year. The computation of the Early
Termination Payment is subject to the Reconciliation Procedures as described in Section 7.09(b) of this Agreement. 

(c) The “Divestiture Acceleration Payment” as of the date of any Divestiture shall equal with respect to the
Existing Stockholders the present value, discounted at the Early Termination Rate as of such date, of the Annual Tax Payments resulting solely from the Transferred NOLs that would be required to be paid by the Corporation to the Existing
Stockholders beginning from the date of such Divestiture assuming the Valuation Assumptions are applied, provided that the Divestiture Acceleration Payment shall be calculated without giving effect to any limitation on the use of the Transferred
NOLs resulting from the Divesture. For purposes of calculating the present value pursuant to this Section 4.03(c) of all Annual Tax Payments that would be required to be paid, it shall be assumed that absent the Divestiture all Annual Tax
Payments would be paid on the due date (without extensions) for filing the relevant Taxable Entity Return with respect to Taxes for each Taxable Year. The computation of the Divestiture Acceleration Payment is subject to the Reconciliation
Procedures as described in Section 7.09(b) of this Agreement. 
 ARTICLE V 

LATE PAYMENTS, ETC. 
 Section 5.01. Late Payments by the Corporation. The amount of all or any portion of any ITR Payment not made to the Existing Stockholders when due under the terms of this Agreement shall
be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such ITR Payment was due and payable. 
 Section 5.02. Compliance with Indebtedness. Notwithstanding anything to the contrary provided herein, if, at the time any amounts becomes due and payable hereunder, (a) the
Corporation is not permitted, pursuant to the terms its outstanding indebtedness, to pay such amounts, or (b) (i) the Corporation does not have the cash on hand to pay such amounts, and (ii) no Subsidiary of the Corporation is
permitted, pursuant to the terms of its outstanding indebtedness, to pay dividends to the Company to allow it to pay such amounts, then, in each case, the Corporation shall, by notice to the Existing Stockholders Representative, be permitted to
defer the payment of such amounts until the condition described in clause (a) or (b) is no longer applicable, in which case such amounts (together with accrued and unpaid interest thereon as described in the immediately following sentence)
shall become due and payable immediately. If the Corporation defers the payment of any such amounts pursuant to the foregoing sentence, 

  
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such amounts shall accrue interest at the Agreed Rate per annum, from the date that such amounts originally became due and owing pursuant to the terms hereof to the date that such amounts were
paid. 
 ARTICLE VI 
 CONSISTENCY; COOPERATION 
 Section 6.01. The Existing
Stockholders Representative’s Participation in Corporation Tax Matters. Except as otherwise provided herein, the Corporation shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporation and each
Taxable Entity including without limitation the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes, subject to a requirement that the Corporation act in good faith in connection with
its control of any matter which is reasonably expected to affect any Existing Stockholder’s rights and obligations under this Agreement. Notwithstanding the foregoing, the Corporation shall notify the Existing Stockholders Representative of,
and keep the Existing Stockholders Representative reasonably informed with respect to, the portion of any audit of the Corporation or any Taxable Entity by a Taxing Authority the outcome of which is reasonably expected to affect any Existing
Stockholder’s rights and obligations under this Agreement, and shall give the Existing Stockholders Representative reasonable opportunity to provide information and participate in the applicable portion of such audit. 

Section 6.02. Consistency. Except upon the written advice of an Advisory Firm, the Corporation and the Existing
Stockholders Representative agree to report and cause to be reported for all purposes, including federal, state, local and foreign Tax purposes and financial reporting purposes, all Tax-related items (including without limitation the Annual Tax
Payment) in a manner consistent with that specified by the Corporation in any Schedule required to be provided by or on behalf of the Corporation or any Taxable Entity under this Agreement and agreed by the Existing Stockholders Representative. Any
dispute concerning such advice shall be subject to the terms of Section 7.09. In the event that an Advisory Firm is replaced with another firm acceptable to the Corporation and the Existing Stockholders Representative pursuant to the definition
of Advisory Firm, such replacement Advisory Firm shall be required to perform its services under this Agreement using procedures and methodologies consistent with those used by the previous Advisory Firm, unless otherwise required by law or the
Corporation and the Existing Stockholders Representative agree to the use of other procedures and methodologies. 

Section 6.03. Cooperation. Each of the Corporation and the Existing Stockholders (through the Existing Stockholders
Representative) shall (a) furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making or approving any determination or computation necessary or
appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b) make itself available to the other party and its representatives to provide explanations
of documents and materials and such other information as the requesting party or its representatives may reasonably request in connection with any of the matters described in clause (a) above, and (c)

  
 15 

 
reasonably cooperate in connection with any such matter, and the requesting party shall reimburse the other party for any reasonable third-party costs and expenses incurred pursuant to this
Section. 
 ARTICLE VII 
 MISCELLANEOUS 
 Section 7.01. Notices. All notices,
requests, claims, demands and other communications hereunder shall be in writing and shall be deemed duly given and received (a) on the date of delivery if delivered personally, or by facsimile upon confirmation of transmission by the
sender’s fax machine if sent on a Business Day (or otherwise on the next Business Day) or (b) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier service. All notices hereunder shall be
delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice: 
 If to the Corporation, to: 
 Berry Plastics Group Inc. 

101 Oakley Street 

Evansville, IN 47710 
 Attention: Chief Financial Officer 
 with a copy to (which shall not constitute
notice): 
 [—] 

Attention: 
 If
to the Existing Stockholders Representative, to: 
 [—] 

Attention: 
 with
a copy to (which shall not constitute notice): 
 [—] 

Attention: 
 Any party may
change its address or fax number by giving the other party written notice of its new address or fax number in the manner set forth above. 
 Section 7.02. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or
more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart. Delivery of an executed signature page to this Agreement by facsimile transmission
shall be as effective as delivery of a manually signed counterpart of this Agreement. 

  
 16 

 Section 7.03. Entire Agreement; Third Party Beneficiaries. This Agreement
constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each
party hereto and their respective successors and permitted assigns. The parties to this Agreement agree that the Existing Stockholders are expressly made third party beneficiaries to this Agreement. Other than as provided in the preceding sentence,
nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 7.04. Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State
of New York. 
 Section 7.05. Severability. If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 

Section 7.06. Successors; Assignment; Amendments; Waivers. (a) The Existing Stockholders Representative may not
assign its rights and obligations in its capacity as Existing Stockholders Representative under this Agreement to any person without the prior written consent of the Corporation; provided, however that the Existing Stockholders
Representative may assign its rights and obligations in its capacity as Existing Stockholders Representative under this Agreement to any of its Affiliates, as long as such transferee has executed and delivered, or, in connection with such transfer,
executes and delivers, a joinder to this Agreement, in form and substance reasonably satisfactory to the Corporation agreeing to be bound by all provisions of this Agreement and acknowledging specifically the last sentence of the next paragraph.

 (b) No Existing Stockholder may assign its rights under this Agreement without the prior written consent of the Existing
Stockholders Representative. Any assignment of an Existing Stockholder’s rights meeting the requirements of this paragraph shall be referred to herein to as a “Permitted Assignment”. 

(c) No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporation and the Existing
Stockholders (through the Existing Stockholders Representative). No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

(d) All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable
by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation 

  
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shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by
written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place. 

Section 7.07. Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement. 
 Section 7.08. Resolution of
Disputes. 
 (a) Any and all disputes which cannot be settled amicably, including any ancillary claims of any party,
arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability of this arbitration provision) shall be
finally settled by arbitration conducted by a single arbitrator in New York in accordance with the then-existing Rules of Arbitration of the International Institute for Conflict Prevention and Resolution. If the parties to the dispute fail to agree
on the selection of an arbitrator within thirty calendar days of the receipt of the request for arbitration, the International Institute for Conflict Prevention and Resolution shall make the appointment. The arbitrator shall be a lawyer and shall
conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 
 (b) Notwithstanding the provisions of paragraph (a), the Corporation may bring an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to
arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each Existing Stockholder (through the Existing Stockholders Representative)
(i) expressly consents to the application of paragraph (c) of this Section 7.08 to any such action or proceeding, (ii) agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement
would be difficult to calculate and that remedies at law would be inadequate, and (iii) irrevocably appoints the Corporation as its agent for service of process in connection with any such action or proceeding and agrees that service of process
upon such agent, who shall promptly advise the Existing Stockholders Representative of any such service of process, shall be deemed in every respect effective service of process upon such Existing Stockholder in any such action or proceeding.

 (c) (i) EACH EXISTING STOCKHOLDER (THROUGH THE EXISTING STOCKHOLDERS REPRESENTATIVE) HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION OF COURTS LOCATED IN NEW YORK, NEW YORK FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION 7.08, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR
CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of
arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this paragraph (c) have a reasonable relation to this Agreement, and to the parties’ relationship with one another. 

  
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 (ii) The parties hereby waive, to the fullest extent permitted by applicable law, any
objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in paragraph (c) (i) of this Section 7.08 and such
parties agree not to plead or claim the same. 
 Section 7.09. Reconciliation. 

(a) In General. In the event that the Corporation and the Existing Stockholders Representative are unable to resolve a
disagreement with respect to the matters governed by Sections 2.03, 4.02 and 6.02 within the relevant period designated in this Agreement (or the amount of an Early Termination Payment in the case of a breach to which Section 4.01(b) applies)
(“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable
to both parties. The Expert shall be a partner in a nationally recognized accounting firm or a law firm (other than the Advisory Firm), and the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the
Corporation or any of the Existing Stockholders or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) days of receipt by the respondent(s) of written notice of a Reconciliation
Dispute, the Expert shall be appointed by the International Institute for Conflict Prevention and Resolution. The Expert shall resolve any matter relating to the Early Termination Schedule or an amendment thereto within thirty calendar days and
shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution.
Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement is due or any Tax Return reflecting the subject of a disagreement is due, such payment shall be made on the date
prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporation or the relevant Taxable Entity, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or
amending any Tax Return shall be borne by the Corporation, except as provided in the next sentence. Each of the Corporation and the Existing Stockholders shall bear their own costs and expenses of such proceeding. Any dispute as to whether a dispute
is a Reconciliation Dispute within the meaning of this Section 7.09 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.09 shall be
binding on the Corporation and the Existing Stockholders and may be entered and enforced in any court having jurisdiction. 

(b) Income Projections for Early Termination Payments. Notwithstanding the provisions of Section 7.09(a), solely with
respect to disagreements regarding the computation of an Early Termination Payment or Divestiture Acceleration Payment that relates to the taxable income projections described in clause (i) of the definition of “Valuation
Assumptions,” the Corporation and the Existing Stockholders (through the Existing Stockholders Representative) shall each submit the Reconciliation Dispute for determination to an Expert in the area of

  
 19 

 
valuation services. Based on the income projections of such Experts, if the higher of the resulting Early Termination Payment or Divestiture Acceleration Payment computations does not exceed 110%
of the lower, then the Early Termination Payment or Divestiture Acceleration Payment shall be the average of such two amounts. If the higher of the Early Termination Payment or Divestiture Acceleration Payment computations is more than 110% of the
lower, then the two Experts shall, within 20 days from such determination, select a third Expert and shall notify the Corporation and the Existing Holders of such selection. If the Early Termination Payment or Divestiture Acceleration Payment
computed by the third Expert is equal to the average of the first two Early Termination Payment or Divestiture Acceleration Payment computations, then the Early Termination Payment or Divestiture Acceleration Payment shall be such average. If the
third Early Termination Payment or Divestiture Acceleration Payment computation is higher than the average of the first two computations, then the Early Termination Payment or the Divestiture Acceleration Payment shall be the average of such third
computation and the higher of the first two computations; provided that if such average exceeds 110% of the higher of the first two computations, then the Early Termination Payment or Divestiture Acceleration Payment shall be 110% of the higher of
the first two computations. If the third Early Termination Payment or Divestiture Acceleration Payment computation is lower than the average of the first two computations, then the Early Termination Payment or Divestiture Acceleration Payment shall
be the average of such third computation and the lower of the first two computations; provided that if such average is less than 90% of the lower of the first two computations, then the Early Termination Payment or Divestiture Acceleration Payment
shall be 90% of the lower of the first two computations. 
 Section 7.10. Withholding. The Corporation shall be
entitled to deduct and withhold from any payment payable pursuant to this Agreement such amounts as the Corporation is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or
foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporation, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Existing
Stockholders. The Corporation shall provide evidence of such payment to the Existing Stockholders (through the Existing Stockholders Representative) to the extent that such evidence is available. 

Section 7.11. Affiliated Corporations; Admission of the Corporation into a Consolidated Group; Transfers of Corporate
Assets. 
 (a) If the Corporation is or becomes a member of an affiliated or consolidated group of corporations that
files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code (other than if the Corporation becomes a member of such a group as a result of a Change of Control, in which case the provisions of Article IV shall control), then:
(i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Annual Tax Payments shall be computed with reference to the consolidated taxable income of the group as a whole. 

(b) If any Taxable Entity is or becomes a member of a Combined Taxation Group for purposes of state or foreign income Taxes (other
than if a Taxable Entity becomes a member of such a group as a result of a Change of Control or Divestiture, in which cases the provisions of 

  
 20 

 
Article IV shall control), then: (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Annual Tax Payments shall be computed with
reference to the combined taxable income of the group as a whole. 
 (c) If any Person the income of which is included in
the income of any Taxable Entity’s Combined Taxation Group transfers one or more assets to a corporation or any Person treated as such for Tax purposes the income of which is not included in such Combined Taxation Group, for purposes of
calculating the amount of any Annual Tax Payment (e.g., calculating the gross income of a Taxable Entity’s Combined Taxation Group and determining the Realized Tax Benefit) due hereunder, such Person shall be treated as having disposed of such
asset in a fully taxable transaction on the date of such transfer. The consideration deemed to be received by such entity shall be equal to the fair market value of the transferred asset, plus (i) the amount of debt to which such asset is
subject, in the case of a transfer of an encumbered asset or (ii) the amount of debt allocated to such asset, in the case of a transfer of a partnership interest. 
 Section 7.12. Confidentiality. (a) Each Existing Stockholder (through the Existing Stockholders Representative) and each of its assignees acknowledges and agrees that the information
of the Corporation is confidential and, except in the course of performing any duties as necessary for the Corporation and its Affiliates, as required by law or legal process or to enforce the terms of this Agreement, shall keep and retain in the
strictest confidence and not disclose to any Person all confidential matters of the Corporation or the Existing Stockholders acquired pursuant to this Agreement. This Section 7.12 shall not apply to (i) any information that has been made
publicly available by the Corporation or any of its Affiliates, becomes public knowledge (except as a result of an act of any Existing Stockholder in violation of this Agreement) or is generally known to the business community; and (ii) the
disclosure of information to the extent necessary for any Existing Stockholder to prepare and file its Tax returns, to respond to any inquiries regarding the same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by
any taxing authority with respect to such returns. Notwithstanding anything to the contrary herein, each Existing Stockholder (and each employee, representative or other agent of such Existing Stockholder) may disclose to any and all Persons,
without limitation of any kind, the tax treatment and tax structure of (x) the Corporation and (y) any of its transactions, and all materials of any kind (including opinions or other tax analyses) that are provided to such Existing
Stockholder relating to such tax treatment and tax structure. 
 (b) If the Existing Stockholders Representative or any of
its assignees commits a breach, or threatens to commit a breach, of any of the provisions of this Section 7.12, the Corporation shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive
relief or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporation or any of
its Subsidiaries and the accounts and funds managed by the Corporation and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and
remedies available at law or in equity. 
 Section 7.13. Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

  
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 Section 7.14. Appointment of Existing Stockholders Representative.

 (a) Appointment. Without further action of any of the Corporation, the Existing Stockholders Representative or any
Existing Stockholder, and as partial consideration of the benefits conferred by this Agreement, the Existing Stockholders Representative is hereby irrevocably constituted and appointed, with full power of substitution, to act in the name, place and
stead of each Existing Stockholder with respect to the taking by the Existing Stockholders Representative of any and all actions and the making of any decisions required or permitted to be taken by the Existing Stockholders Representatives under
this Agreement (and any potential agreement with the Corporation to terminate this Agreement earlier than such time as is provided in Section 4.01 provided that (for the absence of doubt, except in the case of a termination covered by
Section 4.01(e)) any payment made by the Corporation upon such an early termination shall be paid to each Existing Stockholder based on such Existing Stockholder’s Ownership Percentage). The power of attorney granted herein is coupled
with an interest and is irrevocable and may be delegated by the Existing Stockholders Representatives. No bond shall be required of the Existing Stockholders Representatives, and the Existing Stockholders Representatives shall receive no
compensation for its services. 
 (b) Expenses. If at any time the Existing Stockholders Representative shall incur
out of pocket expenses in connection with the exercise of its duties hereunder, upon written notice to the Corporation from the Existing Stockholders Representative of documented costs and expenses (including fees and disbursements of counsel and
accountants) incurred by the Existing Stockholders Representative in connection with the performance of its rights or obligations under this Agreement and the taking of any and all actions in connection therewith, the Corporation shall reduce any
future payments (if any) due to the Existing Stockholders hereunder pro rata (based on their respective ownership percentages in the Corporation) by the amount of such expenses which it shall instead remit directly to the Existing Stockholders
Representative. In connection with the performance of its rights and obligations under this Agreement and the taking of any and all actions in connection therewith, the Existing Stockholders Representative shall not be required to expend any of
its own funds (though, for the avoidance of doubt, it may do so at any time and from time to time in its sole discretion). 

(c) Limitation on Liability. The Existing Stockholders Representative shall not be liable to any Existing Stockholder for any
act of the Existing Stockholders Representative arising out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent any liability, loss, damage, penalty, fine, cost or expense is actually
incurred by such Existing Stockholder as a proximate result of the gross negligence, bad faith or willful misconduct of the Existing Stockholders Representative (it being understood that any act done or omitted pursuant to the advice of legal
counsel shall be conclusive evidence of such good faith and reasonable judgment). The Existing Stockholders Representative shall not be liable for, and shall be indemnified by the Existing Stockholders (on a several but not joint basis) for,
any liability, loss, damage, penalty or fine incurred by the Existing Stockholders Representative (and any cost or expense incurred by the Existing Stockholders Representative in connection therewith and herewith and not previously reimbursed
pursuant to subsection (b) above) arising out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent that any such liability, loss, damage, penalty, fine, cost or expense is the
proximate result of the gross negligence, bad faith or willful misconduct of the 

  
 22 

 
Existing Stockholders Representative (it being understood that any act done or omitted pursuant to the advice of legal counsel shall be conclusive evidence of such good faith and reasonable
judgment); provided, however, in no event shall any Existing Stockholder be obligated to indemnify the Existing Stockholders Representative hereunder for any liability, loss, damage, penalty, fine, cost or expense to the extent (and
only to the extent) that the aggregate amount of all liabilities, losses, damages, penalties, fines, costs and expenses indemnified by such Existing Stockholder hereunder is or would be in excess of the aggregate payments under this Agreement
actually remitted to such Existing Stockholder. Each Existing Stockholder’s receipt of any and all benefits to which such Existing Stockholder is entitled under this Agreement, if any, is conditioned upon and subject to such Existing
Stockholder’s acceptance of all obligations, including the obligations of this Section 7.14(c), applicable to such Existing Stockholder under this Agreement. 
 (d) Actions of the Existing Stockholders Representative. Any decision, act, consent or instruction of the Existing Stockholders Representative shall constitute a decision of all Existing
Stockholders and shall be final, binding and conclusive upon each Existing Stockholder, and the Corporation may rely upon any decision, act, consent or instruction of the Existing Stockholders Representative as being the decision, act, consent or
instruction of each Existing Stockholder. The Corporation is hereby relieved from any liability to any person for any acts done by the Corporation in accordance with any such decision, act, consent or instruction of the Existing Stockholders
Representative. 
 [Signatures pages follow] 

  
 23 

 IN WITNESS WHEREOF, the Corporation and the Existing Stockholders Representative have duly executed this
Agreement as of the date first written above. 
  

			
	BERRY PLASTICS GROUP INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[—], as Existing Stockholders Representative
		
	By:

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