Document:

EX-4.2

 Exhibit 4.2 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A
NOMINEE THEREOF. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR INDIVIDUAL NOTES REPRESENTED HEREBY, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE
DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. 
 UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

No.: 1 
  

			
	CUSIP No.: 695156 AR0	 	Principal Amount: $400,000,000
	ISIN No.: US695156AR08	 	

 PACKAGING CORPORATION OF AMERICA 

3.650% SENIOR NOTES DUE 2024 

Packaging Corporation of America, a corporation duly organized and existing under the General Corporation Law of the State of Delaware
(hereinafter called the “Company,” which term includes any successor under the Indenture referred to below), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of FOUR HUNDRED
MILLION DOLLARS ($400,000,000) on September 15, 2024, and to pay interest thereon from and including September 5, 2014, or from and including the most recent date to which interest has been paid or duly provided for, to, but not including,
the applicable Interest Payment Date (as defined below) or Maturity, as the case may be. The Company will pay interest semi-annually in arrears on March 15 and September 15 of each year (each, an “Interest Payment Date”),
beginning on March 15, 2015, and at Maturity, at the rate of 3.650% per annum, until the principal hereof is paid or duly made available for payment. Interest on this Note shall be calculated on the basis of a 360-day year consisting of
twelve 30-day months. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on March 1 or September 1, as applicable, (whether or not a Business Day) prior to such Interest Payment Date. Any such interest which is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date shall forthwith cease to be payable to the Person who was the Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and may be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, 

 
notice whereof shall be given to the Holder of this Note not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in such Indenture. 

Payment of the principal of and premium, if any, and the interest on this Note will be made at the office or agency of the Company maintained
for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of
the Company, interest may be paid by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by transfer to an account maintained by the payee with a bank located in the United States; and
provided, further, that payments on global notes will be made to DTC, or its nominee. 
 This Note is one of a duly authorized issue of
Securities of the Company (herein called the “Notes”) issued and to be issued in one or more series under an Indenture, dated as of July 21, 2003 (the “Indenture”), between the Company and U.S. Bank National Association, as
trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof,
initially limited (subject to exceptions provided in the Indenture) in aggregate principal amount to $400,000,000, subject to the right of the Company, without the consent of the Holders of the Notes, to “reopen” such series and to issue
additional Notes of such series on the terms and subject to the conditions provided in or pursuant to the Indenture. 
 At any time prior to
June 15, 2024, the Notes may be redeemed by the Company, in whole or from time to time in part, at the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and
(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed that would be due if the notes matured on the Par Call Date (exclusive of interest accrued to the applicable Redemption
Date) discounted to such Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus, in the case of both clause (i) and clause (ii) above, accrued and
unpaid interest on the principal amount of the Notes being redeemed up to, but not including, such Redemption Date; provided, however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the
Holders of the Notes (or one or more Predecessor Notes) registered as such at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture. In addition, at any time on or after June 15,
2024, the Notes may be redeemed by the Company, in whole or in part, at the option of the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but not
including, the Redemption Date; provided, however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of the Notes (or one or more Predecessor Notes) registered as such at the
close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture. Any such redemption shall be effected in accordance with the terms and conditions set forth in the Indenture. 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the applicable Redemption Date to each Holder of the
Notes to be redeemed at such Holder’s registered address. If less than all the Notes are to be redeemed at the Company’s option, the Trustee will select, in such manner as it deems fair and appropriate, the Notes (or portions thereof) to
be redeemed. Unless the Company defaults in payment of the Redemption Price, on and after the applicable Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption on such Redemption Date. 

  
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 If a Change of Control Triggering Event occurs, unless the Company has previously exercised its
right to redeem the Notes as described above, the Company will make an offer to each Holder of Notes to repurchase all or any part (equal to $2,000) or integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a Repurchase Price
in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the applicable Repurchase Date. Within 30 days following any Change of Control
Triggering Event or, at the option of the Company, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company will mail a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the Change of Control Triggering Event Repurchase Date specified in the notice, which date will be no
earlier than 30 days and no later than 60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control
being consummated on or prior to the Repurchase Date specified in such notice. 
 The Company will comply with the requirements of Rule
14e-1 under the Securities Exchange Act of 1934 (the “Exchange Act’’) and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as
a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable
securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Triggering Event provisions of the Notes by virtue of such conflict. 

On the Change of Control Triggering Event Repurchase Date, the Company will, to the extent lawful: (a) accept for payment all Notes or
portions of Notes (in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof) properly tendered pursuant to the Company’s offer; (b) deposit with the Paying Agent an amount equal to the aggregate Repurchase
Price in respect of all Notes or portions of Notes properly tendered; and (c) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of
Notes being repurchased by the Company. 
 The Paying Agent will promptly mail or otherwise deliver to each Holder of Notes properly
tendered the Repurchase Price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered;
provided, that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 The Company
will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the
Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. An offer to repurchase the Notes upon a Change of Control Triggering Event may be made in advance of a Change of Control Triggering Event, if a
definitive agreement is in place for a Change of Control at the time of the making of such an offer. 

  
 3 

 As used in this Note, the following terms have the meaning set forth below: 

“Below Investment Grade Rating Event” occurs if the Notes cease to be rated Investment Grade by each of the Rating Agencies on any
date from the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control, in each case until the end of the 60-day period following the earlier of (1) the
occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control; provided, however, that if during such 60-day period one or more Rating Agencies has publicly announced that it is considering
a possible downgrade of the Notes, then such 60-day period shall be extended for such time as the rating of the Notes by any Rating Agency remains under publicly announced consideration for possible downgrade. Notwithstanding the foregoing, a Below
Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for
purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating to which this definition would otherwise apply does not announce or publicly confirm or inform the Trustee in writing at the
Company’s or the Trustee’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the
applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Change of Control”
means the occurrence of any of the following: 
  

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

 

	 	(2)	the adoption of a plan relating to the liquidation or dissolution of the Company; 

  

	 	(3)	the first day on which the majority of the members of the board of directors of the Company are not Continuing Directors; 

  

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

  

	 	(5)	the Company consolidates with, or merges with or into, any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), or any person consolidates with, or merges with or into, the Company, in
any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or any of the outstanding Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any
such transaction where the shares of the Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person immediately after
giving effect to such transaction. 

 Notwithstanding the foregoing, a transaction or series of related transactions effected
to create a holding company for the Company will not be deemed to involve a Change of Control under clause (4) above if (1) pursuant to such transaction or series of related transactions, the Company becomes a direct

  
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or indirect wholly owned subsidiary of such holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are
substantially the same as the holders of the Voting Stock of the Company immediately prior to that transaction or (B) immediately following that transaction no “person” (as that term is used in Section 13(d)(3) of the Exchange
Act) (other than a holding company satisfying the requirements of this sentence) is the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of a majority of the Voting Stock of such
holding company, measured by voting power rather than number of shares. 
 “Change of Control Triggering Event” means the
occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Comparable Treasury Issue” means, with
respect to any Redemption Date for the Notes, the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Notes (assuming, for this purpose, that the Notes matured on
the Par Call Date) to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

 “Comparable Treasury Price” means, with respect to any Redemption Date for the Notes, (i) the average of five Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (ii) if the Independent Investment Banker obtains fewer than five but more than one such Reference Treasury
Dealer Quotations for such Redemption Date, the average of all such quotations or (iii) if the Independent Investment Banker obtains only one such Reference Treasury Dealer Quotation for such Redemption Date, that Reference Treasury Dealer
Quotation. 
 “Continuing Directors” means, as of any date of determination, any member of the Company’s board of directors
who (1) was a member of such board of directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such board of directors with the approval of a majority of the Continuing Directors who were members
of such board of directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director). 

“Final Maturity Date” means September 15, 2024. 

“Independent Investment Banker” means, with respect to any Redemption Date for the Notes, any of Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Deutsche Bank Securities Inc. or Wells Fargo Securities, LLC and their respective successors, whichever is selected by the Company, or, if all such firms or the respective successors, if any, to such firms, as
the case may be, are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing in the United States of America appointed by the Company. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of
Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating, from any additional Rating Agency or Rating Agencies. 

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

“Par Call Date” means the date that is three months prior to the maturity date of the Notes. 

  
 5 

 “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either
Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization,” within the meaning of
Section 3(a)(62) of the Exchange Act, selected by the Company as a replacement agency for Moody’s or S&P, or both, as the case may be. 

“Reference Treasury Dealer” means, with respect to any Redemption Date for the Notes, any of Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and a Primary Treasury Dealer (as defined below) selected by Wells Fargo Securities, LLC and their respective successors (provided, however, that if any such firm or any such
successor, as the case may be, ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer) and two other Primary Treasury
Dealers selected by the Company. 
 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer
and any Redemption Date for the Notes, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing
to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Repurchase Date,” with respect to any Note or portion thereof to be repurchased, means the date fixed for such repurchase by or
pursuant to the Indenture or such Note. 
 “Repurchase Price,” with respect to any Note or portion thereof to be repurchased,
means the price at which it is to be repurchased as determined by or pursuant to the Indenture or such Note. 
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors. 
 “Treasury
Rate” means, with respect to any Redemption Date for the Notes, (i) the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated
“H.15 (519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity
under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Final Maturity Date for the Notes, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (ii) if such
release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the third Business Day preceding the
applicable Redemption Date. As used in the immediately preceding sentence and in the definition of “Reference Treasury Dealer Quotation” above, the term “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday
which is not a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 

  
 6 

 “Voting Stock” means, with respect to any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors (or persons performing similar functions) of such person. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and accrued and unpaid interest on the Notes
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of Securities of each series issued under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting the Holders of specified
percentages in aggregate principal amount of the Securities of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Notes issued upon the registration
of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Company and the Trustee, without notice to or consent of the Holders of the Notes,
to enter into one or more indentures supplemental thereto for the purposes specified in the Indenture. 
 No reference herein to the
Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Note at the time, place and rate,
and in the coin or currency, herein and in the Indenture prescribed. 
 As provided in the Indenture and subject to certain limitations set
forth therein, the transfer of this Note may be registered on the Security Register upon surrender of this Note for registration of transfer at the Office or Agency of the Company maintained for the purpose in any place where the principal of and
interest on this Note are payable, duly endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or by his attorney duly authorized in writing, and
thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

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

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture. 
 Prior
to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this
Note shall be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 7 

 The Indenture contains provisions whereby (i) the Company may be discharged from its
obligations with respect to the Notes (subject to certain exceptions) or (ii) the Company may be released from its obligations under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with the
Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on all Notes, and satisfies certain other conditions, all as more fully provided in the Indenture. In addition, the Indenture shall cease to be of
further effect (subject to certain exceptions) with respect to the Notes when (1) either (A) all Notes previously authenticated and delivered have been delivered (subject to certain exceptions) to the Trustee for cancellation, or
(B) all Notes (i) have become due and payable, (ii) will become due and payable at their Stated Maturity within one year or (iii) are to be called for redemption within one year and, in the case of (i), (ii) or (iii) of
this sentence, the Company has irrevocably deposited with the Trustee money in an amount sufficient to pay and discharge the entire indebtedness on all such Notes not theretofore delivered to the Trustee for cancellation, and (2) the Company
satisfies certain other conditions, all as more fully provided in the Indenture. 
 This Note shall be governed by and construed in
accordance with the laws of the State of New York. 
 All terms used in this Note which are defined in the Indenture and not defined herein
shall have the meanings assigned to them in the Indenture. 
 Unless the certificate of authentication hereon has been executed by or on
behalf of the Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 8 

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

 

			
	Packaging Corporation of America
		
	By:	 	 /s/ Richard B. West

	Name:	 	Richard B. West
	Title:	 	Senior Vice President and Chief Financial Officer

 Dated: September 5, 2014 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the
Notes of the series designated therein 
 referred to in the within-mentioned Indenture. 

 

			
	 U.S. Bank National Association,

as Trustee

		
	By:	 	 /s/ Linda Garcia

		 	Authorized Signatory

 [Signature Page to Global Note] 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

											
	 TEN COM — as tenants in common
	  	 	UNIF GIFT MIN ACT –	  	 	  	 	Custodian	 	  
	 TEN ENT — as tenants by the entireties
	  				 	(Cust)	 		 	(Minor)
	 JT TEN — as joint tenants with right of

survivorship and not as tenants in common
	  				 	Under Uniform Gifts to Minors
		  				 	Act	 	  
		  				 		 	 (State)

 Additional abbreviations may also be used though not in the above list. 

					
		  	  
	  	

 FOR VALUE RECEIVED, the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  

			
	 	
	 	  	

  
  

			
	 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE

	  

	 the within security and all rights thereunder, hereby irrevocably constituting and appointing
	  	
	  
	  	Attorney
	 to transfer said security on the books of the Company with full power of substitution in the premises.
	  	

  

					
	 Dated:
                                         
           
	 		 	Signed:
                                         
               

 Notice: The signature to this assignment must correspond with the name as it appears upon the face of the within security in
every particular, without alteration or enlargement or any change whatever. 

 OPTION TO ELECT REPAYMENT 

(CHANGE OF CONTROL TRIGGERING EVENT) 

The undersigned hereby irrevocably requests and instructs the Company to repay the within Note (or portion thereof specified below) pursuant
to its terms at a price equal to the Repurchase Price, together with accrued and unpaid interest to, but not including, the Repurchase Date, to the undersigned at: 
  

 
  

 
  

 
 (Please print or typewrite name and
address of the undersigned) 
 If less than the entire principal amount of the within Note is to be repaid, specify the portion thereof
which the Holder elects to have repaid:                     ; and specify the denomination or denominations (which shall not be less than the
minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repaid (in the absence of any such specification, one such Note will be issued for the portion not being repaid): 

 

					
	 Dated:
                                         
       
	  		  	  

	
                         
   Name:
	  		  	NOTICE: The signature on this Option to Elect Repayment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement.Exhibit 10.1

 

QUALITY AGREEMENT

 

This QUALITY
AGREEMENT (this “Agreement”), is entered into as of [•], 2014 (the “Effective Date”) between Symmetry
Medical Inc., a Delaware corporation (the “Company”), and Racecar SpinCo, Inc., a Delaware corporation (“SpinCo”).
Company and SpinCo are referred to herein collectively as the “Parties,” and each individually as a “Party”.

 

WHEREAS,
the Parties have entered into that certain Supply Agreement, dated as of    [•], 2014 (the “Supply
Agreement”); and

 

WHEREAS, pursuant
to the terms of the Supply Agreement, the Parties intend to supply to each other certain Products; and

 

WHEREAS, the Parties
desire to enter into this Agreement in order to provide for the agreement of quality and regulatory issues related to the supply
of Products under the Supply Agreement;

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants and agreements hereinafter set forth, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledge, and intending to be legally bound hereby, the Parties hereby agree
as follows:

 

		1.0	DEFINITIONS. Capitalized
                                         terms used herein but not otherwise defined shall have the meanings set forth in the
                                         Separation Agreement.

 

		2.0	PURPOSE

 

		2.1	This Agreement addresses the
                                         quality system requirements for the Products and is intended to ensure that the Products
                                         and all other products affected by the Product, if any, will be safe and effective, will
                                         have the proper identity, quality, purity, and potency, and will be in compliance with:
                                         (i) the Federal Food, Drug, and Cosmetic Act, as amended, 21 US.C. 321-394, (the “FD&C
                                         Act”); (ii) current good manufacturing practice requirements (“cGMP”)
                                         as set forth in the Food and Drug Administration (“FDA”) quality system (“QS”)
                                         regulations, as amended, 21 CFR 820.1, et seq. (“QS Regulations”);
                                         (iii) Directive 93/42/EEC concerning General Medical Devices (MDD) and, (iv) Receiving
                                         Party’s requirements and/or specifications (if any) (hereinafter collectively referred
                                         to as the “Product Specifications”).

 

		2.2	In the event that quality issues
                                         not otherwise addressed in this Agreement arise during Product manufacture, quality evaluations,
                                         and/or performance of Supplying Party’s services, then Supplying Party agrees to
                                         implement mutually agreed upon continual improvement
                                         activities (including, without limitation, performance enhancements and corrective actions)
                                         that Receiving Party and Supplying Party mutually agree are necessary or appropriate
                                         to improve, assure, or otherwise maintain the quality of the Product, with neither Party’s
                                         agreement being unreasonably withheld, conditioned or delayed.

 

		3.0	SCOPE AND EFFECT

 

		3.1	Product Registration. Supplying
                                         Party shall be responsible for registering Supplying Party’s facilities with the
                                         appropriate Regulatory Agency or Agencies and for maintaining any such registrations
                                         and/or licenses in accordance with 21 CFR 807.20, 21 CFR 807.40 and Directive 93/42/EEC
                                         concerning General Medical Devices (MDD).

 

		3.2	Regulatory Filings. The Party
                                         that is considered the legal manufacturer is responsible for maintaining and keeping
                                         readily available all documentation, correspondence and forms related to 510K, Pre-Market
                                         Approvals (“PMA”), and CE Marking.

  

    	 

    	 

    

  

		3.3	The terms of this Agreement are
                                         intended to be consistent with and supplement the terms of any Supply Agreement. Notwithstanding
                                         the foregoing, in the event of any conflict between terms in this Agreement and any Supply
                                         Agreement or any purchase order, then the documents shall govern in this order: (i) the
                                         Supply Agreement; (ii) this Agreement; and, (iii) purchase order.

 

		3.4	Duration of Agreement.  This
                                         Agreement’s term is coterminous with the Supply Agreement in every respect (the
                                         “Term”), and shall at all times apply to the Product(s) provided by Supplying
                                         Party to Receiving Party under the Supply Agreement. Notwithstanding the foregoing, any
                                         section of this Agreement which has a predefined retention, survival or maintenance retention
                                         shall survive the termination of this Agreement for no less than five (5) years, at which
                                         time these obligations shall be reviewed in good faith for an extension of time if appropriate.

 

		3.5	Responsibilities of the Parties. Appendix I sets forth
                                         the respective rights and obligations of the Receiving Party and Supplying Party
                                         hereunder.

 

		4.0	COMMUNICATION AND DESIGNATION OF QUALITY REPRESENTATIVE
                                         

 

		4.1	Each Party shall designate the
                                         appropriate person(s) from its respective quality unit (the “Quality Representative”)
                                         to be responsible for maintaining communication about quality assurance for the Product
                                         and this Agreement, including sending and receiving any notice(s) described or required
                                         herein.

 

		4.2	Exhibit A: Specifications,
                                         Products and Materials, provides an initial and/or brief description of the Product(s).

 

		5.0	SUPPLYING PARTY QUALITY MANAGEMENT SYSTEM REQUIREMENTS
                                         

 

		5.1	The Supplying Party shall implement
                                         and maintain a quality management system in accordance with cGMP/QS requirements (21
                                         CFR 820) and ISO 13485:2008: Medical devices-Quality management systems-requirements
                                         for regulatory purposes.

 

		6.0	INTERNAL QUALITY SYSTEM AUDITS AND CORRECTIVE ACTION

 

		6.1	Each Party will establish procedures
                                         for Quality System audits and conduct such audits to ensure that the Quality System is
                                         in compliance with the established Quality System requirements and to determine the effectiveness
                                         for the Quality System as set forth in 21 CFR 820.22 (Internal Audit).

 

		6.2	Each party shall establish and
                                         maintain procedures for implementing corrective and preventive action as set forth in
                                         21 CFR 820.100 (a) and to maintain such corrective and preventive action system in accordance
                                         with ISO 13485 8.5.2 (Corrective Action) and 8.5.3 (Preventive Action).

 

		7.0	TRAINING AND EDUCATION

 

		7.1	The Supplying Party shall determine the necessary education
                                         and training requirements for all employees, including temporary employees, entrusted
                                         with any work affecting quality to ensure that all personnel are trained to adequately
                                         perform their assigned responsibilities per 21 CFR 820.25 (b)(1)(2). Supplying Party
                                         shall keep records of training in accordance with record retention requirements identified
                                         in Appendix I.

 

		8.0	DESIGN CONTROLS (see Appendix I)
	 	 	 

		8.1	Design Controls Generally. Supplying Party acknowledges
                                         and agrees that design and development planning is necessary and established to ensure
                                         that the design process for the Product is appropriately controlled and that Product
                                         Specifications and quality objectives are met.
	 	 	 

    	 

    	 

    

  

		8.2	Design Controls Developed By Receiving Party. Unless otherwise
                                         agreed to in a written document signed by the Parties and incorporated herein by reference,
                                         the Parties acknowledge and agree that Receiving Party is responsible for the design
                                         and development requirements for the Product in accordance with 21 CFR 820.30 and owns
                                         all design documents (including the design history file (DHF)) and specifications. Further,
                                         the Supplying Party shall be responsible for translating all design materials provided
                                         by Receiving Party and implement and perform the designated manufacturing activities
                                         in compliance with: (i) the procedures, drawings, requirements, and/or other design materials
                                         provided by Receiving Party; and, (ii) the requirements of the QS Regulations/cGMPs including,
                                         without limitation, the design transfer requirements set forth in 21 CFR 820.30(h).

 

		9.0	PROCESS CONTROL (see Appendix I)

 

		9.1	Production and Process Controls.
                                         Supplying Party shall develop, conduct, control, validate (where process results cannot
                                         be fully verified by inspection and testing) in accordance with 21 CFR 820.75 (Process
                                         Validation) and 820.70 (g) (Equipment Qualification) and conduct a documented risk analysis
                                         for the complete process of manufacturing (such as Process Failure Modes and Effects
                                         Analysis (“pFMEA”) or Control Plans, and monitor production processes to
                                         ensure that the Product conforms to Product Specifications.

 

		9.2.	Supplying Party shall, more specifically,
                                         assure that production equipment and quality measurement equipment, including mechanical,
                                         electronic, automated, chemical, or other equipment, are: (i) suitable for the intended
                                         use; (ii) capable of producing valid results; (iii) operated by trained personnel; and,
                                         (iv) properly calibrated to the appropriate standard

 

		9.4	Equipment Controls. All equipment
                                         used to manufacture the Product shall be appropriately designed, constructed, placed,
                                         and installed to facilitate maintenance, adjustment, cleaning and use in accordance with
                                         QS Regulations, including, without limitation, 21 CFR 820.70(g).

 

		9.4.1	Supplying Party shall establish
                                         and maintain written maintenance procedures and schedules and shall specifically document
                                         the performance of all maintenance activities.

 

		9.4.2	Supplying Party shall conduct and
                                         document completion of periodic inspections and/or audits to ensure Supplying Party’s
                                         adherence to equipment maintenance procedures and schedules.

 

		10.0	DOCUMENT CONTROLS AND RETENTION (see Appendix
I)

 

		10.1	Product Records.

 

		10.1.1	Supplying Party shall possess
                                         and retain detailed written records of all Supplying Party activities relating to the
                                         Product, including but not limited to documents concerning the design, development, composition,
                                         manufacture, testing, quality, validation, traceability, remanufacture, packaging, labeling,
                                         inspection, and shipping activities relating to the Product (collectively referred to
                                         as the “Product Records”).

 

		10.1.2	Product Records also include
                                         all documents required by this Agreement, the Supply Agreement and applicable QS Regulations/cGMPs,
                                         including, but not limited to, the compilation of documents comprising a design history
                                         file (“DHF”), device history record (“DHR”) and device master
                                         record (“DMR”) as those terms are defined in 21 CFR 820.3.

 

		10.2	Document Controls. Supplying
                                         Party shall establish and maintain an up-to-date written document control system for
                                         controlling the Product Records in accordance with the requirements set forth in this
                                         Agreement, the Supply Agreement, and the document control provisions in the QS Regulations,
                                         including, without limitation, 21 CFR 820.40.

 

    	 

    	 

    

  

		10.3	Document Changes. Supplying
                                         Party shall maintain records of changes to documents. Change records shall include a
                                         description of the change, identification of the affected documents, the signature of
                                         the approving individual(s), the approval date, and when the change becomes effective.

 

		10.4	Record Retention. Supplying
                                         Party shall retain all Product Records for a period of time equivalent to the design
                                         and expected life of the Product or the medical device in which the Product is intended
                                         to be included. Notwithstanding the foregoing, Supplying Party shall not alter, destroy,
                                         or otherwise dispose of any Product Records without Receiving Party Corporation’s
                                         prior written authorization.

 

		10.5	Access to Product Records. Supplying
                                         Party shall provide copies of any or all Product Records to Receiving Party within a
                                         reasonable period of time following the request.

 

		11.0	CHANGE CONTROL (see Appendix I)

 

		11.1	Significance of Change Control.
                                         Supplying Party acknowledges and agrees that changes to any process, system, or activity
                                         (including, without limitation, designs, specifications, procurement, Supplying Party’s
                                         raw materials, manufacturing, shipping, labeling, packaging, tests, testing methods,
                                         calibration standards, standard operating procedures, equipment, software, maintenance,
                                         contamination controls, quality systems, and documents containing the procedures and
                                         specifications for the Product) relating to the Product can impact the safety, identity,
                                         quality, effectiveness, purity and/or potency of the Product. Supplying Party further
                                         acknowledges and agrees that certain manufacturing changes may require regulatory filings
                                         and/or regulatory approval prior to implementing any such change.

  

		11.2	Supplying Party’s Change
                                         Control System. Supplying Party shall establish and maintain an up-to-date change control
                                         system with written policies and procedures for identifying, addressing, documenting,
                                         and implementing changes to any specification, method, process, or procedure (from design
                                         to delivery) relating to the Product. Such changes shall be verified, or where appropriate
                                         validated according to 21 CFR 820.75, before implementation and these activities shall
                                         be documented. Any such changes shall be approved by appropriate personnel and in accordance
                                         with the document change procedures set forth in 21 CFR 820.40. Such changes shall be
                                         verified, or where appropriate validated according to 21 CFR 820.75, (Validation of processes
                                         for production and service provision), before implementation and these activities shall
                                         be documented. Such changes shall be approved by appropriate personnel and in accordance
                                         with the document change procedures set forth in 21 CFR 820.40 .

 

		11.3	Notice of Proposed Changes.
                                         In the event that Supplying Party identifies or is made aware of a potential change to
                                         any process, system, or activity relating to the Product, then Supplying Party shall
                                         promptly, and in no event later than three (3) business days after becoming aware of
                                         the potential change, notify Receiving Party of the proposed change using the current
                                         change request form (“SCR”). Each SCR shall, at a minimum, set forth a narrative
                                         description of the proposed change, identification of any documents affected by the proposed
                                         change, Supplying Party’s plan for addressing and implementing the proposed change,
                                         and when the proposed change would become effective.

 

		11.4	Change Approval. Supplying
                                         Party shall not implement any changes to any process, system, or activity relating to
                                         the Product without prior written approval from an authorized member of Receiving Party’s
                                         quality assurance department. Supplying Party assumes all financial responsibility for
                                         changes made by Supplying Party without the required prior written approval from Receiving
                                         Party.

 

		12.0	SUPPLYING PARTY’S PURCHASING AND ACCEPTANCE
ACTIVITIES (see Appendix I)

 

		12.1	Supplying Party’s Purchasing Controls. Supplying Party
                                         shall establish and maintain written requirements and procedures to ensure that all services
                                         or product(s) purchased or otherwise received by Supplying Party are acceptable for their
                                         intended use and conform to all Product Specifications.
	 	 	 

    	 

    	 

    

  

		13.0	MATERIAL USE, STORAGE, IDENTIFICATION AND TRACEABILITY
(see Appendix I)

 

		13.1	Storage of Materials. Supplying
                                         Party shall establish and maintain procedures for control of storage areas and stock
                                         rooms for product to prevent mix-ups, damage, deterioration, contamination, or other
                                         adverse effects pending distribution. Where Receiving Party provides raw material, Supplying
                                         Party shall maintain its traceability.

 

		13.2	Identification. Supplying Party
                                         shall establish and maintain procedures for identifying product during all stages of
                                         receipt, production, distribution, and installation to prevent mixing of materials.

 

		13.3	Traceability Controls. Supplying
                                         Party shall establish and maintain procedures to trace any material or component that
                                         relates to or is otherwise part of the Product via a unit, lot or batch control number
                                         in accordance with cGMPs/QS Regulations, including 21 CFR 820.65, and Product Specifications.
                                         Supplying Party shall document such traceability controls in order to facilitate corrective
                                         action.

 

		14.0	LABELING AND PACKAGING
                                         (see Appendix I)

 

		14.1	Labeling. The appearance and text
                                         of any labeling and packaging used in connection with the Product or any finished product
                                         containing or contained in the Product shall be identical to that utilized in the six
                                         (6) months prior to the Effective Date unless otherwise agreed to by the parties in good
                                         faith.

 

		14.2	Packaging. The Party that is
                                         considered the legal manufacturer shall ensure that Product packaging is designed, validated,
                                         and constructed to protect the Product from alteration, contamination, mix-up, or damage
                                         during all processing, storage, handling and distribution activities. Bulk Product packaging
                                         is designed based on historical experience and/or accepted industry standards, relative
                                         to protecting the Product in transit. Supplying Party shall examine packaging related
                                         to the Product to assure that such containers and packaging: (i) are in accordance with
                                         Product Specifications; and, (ii) are not damaged or misbranded. Furthermore, Product
                                         shall be packed in such a way as to prevent the inadvertent mixing of multiple lots of
                                         parts.

 

		16.0	PRODUCT RELEASE

 

		16.1	Delivery Documentation. Supplying Party shall provide the
                                         following information with each delivery to Receiving Party:

 

		·	Part
                                         Number;

		·	Receiving
                                         Party PO Number

		·	Lot
                                         Number

		·	Quantity

		·	Certificate
                                         of Analysis and/or Certificate of Conformance (see 18.1.3)

 

		16.2	Certificate of Conformance. Supplying
                                         Party shall include with each shipment a Certificate of Conformance (“Certificate
                                         of Conformance”) stating the following: 

 

		·	Supplying
                                         Party Name

		·	Receiving
                                         Party Part Name

		·	Receiving
                                         Party Part # and Revision Level

		·	Receiving
                                         Party Purchase Order #

		·	Supplying
                                         Party Lot#

		·	Quantity
                                         Shipped

		·	Date
                                         Manufactured
	 	 	 

    	 

    	 

    

  

		17.0	COMPLAINT FILES

 

		17.1	Complaint. The term “Complaint”
                                         means any indication of the failure of the Product to meet customer or user expectations
                                         for quality or to meet performance specifications, including, without limitation, any
                                         written, electronic, or oral communication that alleges deficiencies related to the identity,
                                         quality, durability, reliability, safety, effectiveness, or performance of the Product
                                         after it is released for distribution.

 

		17.2	Complaint Handling System.
                                         Supplying Party must establish and maintain written procedures for receiving, reviewing,
                                         and evaluating Complaints in accordance with cGMPs/QS Regulations, including 21 CFR 820.198.

 

		17.3	Complaint Files. Supplying
                                         Party will maintain written records of Complaints in accordance with cGMPs/QS Regulations,
                                         including 21 CFR 820.198, that provide, at a minimum, written records of any investigation
                                         and the reasoning used by Supplying Party to determine whether an investigation is, or
                                         is not, necessary.

 

		17.4	Notice. Supplying Party shall
                                         immediately notify Receiving Party in writing of any Complaint or Adverse Event involving
                                         the possible failure of the Product, including labeling or packaging, to meet any Product
                                         specifications. This Section shall survive Termination of the Agreement.

 

		17.5	Complaint Investigation.

 

		17.5.1	The Party that is considered the
                                         legal manufacturer is responsible for the initial assessment and, if appropriate, initial
                                         investigation of Complaints alleging an event that could be reportable to the FDA under
                                         FDA medical device reporting regulations, 21 CFR Part 803, as amended, and/or other Regulatory
                                         Agency as required.

 

		17.5.2	Supplying Party Investigation.
                                         Notwithstanding the foregoing provision, Supplying Party will investigate Complaints
                                         if requested to do so by Receiving Party. Supplying Party will provide an investigation
                                         report to Receiving Party within ten (10) business days after Receiving Party’s
                                         request for a Supplying Party investigation. Supplying Party’s investigation shall
                                         be completed and documented in accordance with cGMPs/QS Regulations, including 21 CFR
                                         820.198.

 

		17.6	Medical Device Reporting. The
                                         Party that is considered the legal manufacturer shall be responsible for reporting to
                                         the relevant Regulatory Agency and/or FDA all Complaints and Adverse Events relating
                                         to the Product that are required to be reported under FDA medical device reporting regulations,
                                         21 CFR Part 803, as amended.

 

		18.0	QUALITY & MANUFACTURING AUDIT

 

		18.1	Quality Audit. The term “Quality
                                         Audit” and “Manufacturing Audit” means an on-site systematic, independent,
                                         and documented examination of Supplying Party’s quality and process systems to
                                         determine whether Supplying Party is in compliance with quality and process system procedures,
                                         that the procedures are implemented effectively, that adequate controls are in-place,
                                         that the procedures are suitable to achieving quality objectives and product requirements,
                                         and that the systems are in accordance with applicable cGMPs/QS Regulations.

 

		18.2	Quality Audit Procedure. Supplying
                                         Party shall provide Receiving Party with access to Supplying Party’s facilities,
                                         Product Records, and/or operations to conduct the Quality Audit during normal business
                                         hours and in a manner, as reasonably practicable under the circumstances, not to interfere
                                         with Supplying Party’s normal and ordinary operations. Receiving Party’s
                                         representative(s) or agent(s) conducting a Quality Audit will be qualified to conduct
                                         such audits, shall comply with Supplying Party’s safety and security rules, and
                                         will execute a commercially reasonable confidentiality agreement respecting the information
                                         obtained during the Manufacturing Audit. Each Party’s respective Quality Representative
                                         shall work together to coordinate and effectuate the Quality Audit; provided, however,
                                         that Supplying Party shall not in any manner unreasonably delay, condition, or otherwise
                                         interfere with Receiving Party’s right to conduct the Quality Audit.

    	 

    	 

    

  

		18.3	Corrective Action Plan.

 

		18.3.1	In the event that a Quality
                                         Audit finds or identifies any condition(s) that are not in compliance with this Agreement,
                                         Product Specifications, or cGMPs/QS Regulations (hereinafter a “Finding”),
                                         and are not cured within thirty (30) days of written notice from Receiving Party to Supplying
                                         Party, then: (i) Supplying Party may be placed on a no future business or restricted
                                         procurement status with Receiving Party; and, (ii) Supplying Party shall be responsible
                                         to provide Receiving Party with a written corrective action plan within thirty (30) business
                                         days thereafter.

 

The corrective action plan shall,
at a minimum, set forth a narrative description detailing Supplying Party’s steps for addressing each Finding and implementing
proposed containment, corrective and as applicable-preventive actions, and when such corrective and preventive actions would be
implemented.

 

		18.3.2	In the event that Supplying
                                         Party fails to provide an acceptable corrective and preventive action plan to Receiving
                                         Party within the requisite thirty (30) business day period, then Supplying Party shall
                                         remain on no future business or restricted procurement with Receiving Party.

 

		19.0	REGULATORY INSPECTION

 

		19.1	Regulatory Agency. The term
                                         “Regulatory Agency” means any local, state, regional, U.S. federal, or non-U.S.,
                                         governmental or regulatory agency, relevant Competent Authority including, without limitation,
                                         the FDA.

 

		19.2	Supplying Party Registration.
                                         Supplying Party shall be responsible for registering Supplying Party’s operations
                                         and/or facilities with the appropriate Regulatory Agency (ies) and for maintaining any
                                         such respective registrations and/or licenses. Supplying Party shall maintain, and keep
                                         readily available, all documentation and forms relating to such registrations and/or
                                         licenses.

 

		19.3	Regulatory Communications. Supplying Party will notify Receiving
                                         Party within five (5) business days of Supplying Party’s receipt of any warning
                                         letter, untitled letter, or any observations from a Regulatory Agency (e.g. Form FDA-483)
                                         that identify or impact the Product and/or Receiving Party.

 

		19.4	Cooperation. To the extent that any inspection or action
                                         by a Regulatory Agency directly affects the Product and/or Receiving Party, Supplying
                                         Party agrees to cooperate and confer with Receiving Party prior to Supplying Party submitting
                                         any response to a Regulatory Agency. Supplying Party further agrees to obtain Receiving
                                         Party’s consent, which will not be unreasonably withheld or delayed, before Supplying
                                         Party makes any commitment to a Regulatory Agency that would affect the Product and/or
                                         Receiving Party.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 

    	 

    

 

IN WITNESS THEREOF, the Parties
enter into this Agreement and sign below to indicate their review, acceptance, and agreement to the terms and conditions set forth
herein.

 

	 	Symmetry Medical Inc.
	 	 	 
	 	By:	
	 	 	Name: Thomas J. Sullivan
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	 	Racecar SpinCo, Inc.
	 	 	 
	 	By:	
	 	 	Name: Thomas J. Sullivan
	 	 	Title: President and Chief Executive Officer

 

[Signature Page to Quality Agreement]

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