Document:

Ninth Amendment to Financing Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
 NINTH AMENDMENT TO FINANCING AGREEMENT 
 THIS NINTH AMENDMENT TO FINANCING AGREEMENT (this “Amendment”), dated as of February 27, 2007 by and among EAGLE FAMILY FOODS
HOLDINGS, INC., a Delaware corporation (the “Parent”), EAGLE FAMILY FOODS, INC., a Delaware corporation (the “Borrower”), each subsidiary of the Parent listed as a “Guarantor” on the signature pages
thereto (together with the Parent, each a “Guarantor” and collectively, the “Guarantors”), the financial institutions from time to time party thereto (each a “Lender” and collectively, the
“Lenders”), FORTRESS CREDIT OPPORTUNITIES I LP, a Delaware limited partnership (“Fortress”), as collateral agent for the Lenders (in such capacity, the “Collateral Agent”), and WACHOVIA BANK,
NATIONAL ASSOCIATION formerly known as Congress Financial Corporation (Central) (“Wachovia”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent” and together with the Collateral
Agent, each an “Agent” and collectively, the “Agents”). 
 W I T N E S S E T H 
 WHEREAS, the Borrower, the Guarantors, the Lenders and the Agents are parties to a Financing Agreement, dated as of March 23, 2004 (as amended,
modified or supplemented from time to time, the “Financing Agreement”), pursuant to which the Lenders have extended credit to the Borrower consisting of a (a) Revolving A Credit Commitment in an aggregate principal amount not
to exceed $35,000,000 outstanding at any time, and (b) Revolving B Credit Commitment in an aggregate principal amount not to exceed $53,000,000 outstanding at any time (subject to certain temporary increases as set forth therein); and

 WHEREAS, the Borrower has requested and the Lenders and Agents have agreed to amend the Financing Agreement to, among other things,
(i) increase the Revolving B Credit Commitment to $60,000,000, and (ii) to amend certain financial covenants as set forth herein. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants, agreements and conditions hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows: 
 1. Capitalized Terms. All capitalized terms used in this Amendment and not otherwise
defined shall have their respective meanings set forth in the Financing Agreement. 
 2. Amendments to Financing Agreement.

 (a) Financial Covenants. Clauses (a), (b) and (c) of Section 7.03 are hereby amended by deleting the ratios and
minimum Consolidated Trailing EBITDA numbers contained therein and replacing them with the following: 
 (a) in the case of the Senior Leverage
Ratio, 

			
	 Fiscal Month End
	  	Senior Leverage Ratio
	 February 2007
	  	3.15
	 March 2007
	  	3.48
	 April 2007
	  	3.78
	 May 2007
	  	3.93
	 June 2007
	  	3.76
	 July 2007
	  	3.79
	 August 2007
	  	3.95
	 September 2007
	  	4.37
	 October 2007
	  	4.16
	 November 2007
	  	3.65
	 December 2007
	  	2.59

 (b) in the case of the Fixed Charge Coverage Ratio: 
  

			
	 Fiscal Month End
	  	Fixed Charge Coverage Ratio
	 February 2007
	  	0.83
	 March 2007
	  	0.81
	 April 2007
	  	0.79
	 May 2007
	  	0.81
	 June 2007
	  	0.90
	 July 2007
	  	0.88
	 August 2007
	  	0.86
	 September 2007
	  	0.86
	 October 2007
	  	0.85
	 November 2007
	  	0.83
	 December 2007
	  	0.83

 (c) in the case of Consolidated Trailing EBITDA: 
  

				
	 Fiscal Month End
	  	Consolidated
EBITDA
	 February 2007
	  	$	20,998,000
	 March 2007
	  	$	20,531,000
	 April 2007
	  	$	20,292,000
	 May 2007
	  	$	20,614,000
	 June 2007
	  	$	22,126,000
	 July 2007
	  	$	22,021,000
	 August 2007
	  	$	21,953,000
	 September 2007
	  	$	21,850,000
	 October 2007
	  	$	21,701,000
	 November 2007
	  	$	21,175,000
	 December 2007
	  	$	21,082,000

 (b) Lender’s Commitment Schedule. Schedule 1.01(A) of the Financing Agreement is
hereby amended in its entirety to read as set forth on Annex I hereto. 

 3. Conditions to Effectiveness. This Amendment shall become effective on the later of (i) the
date hereof and (ii) satisfaction in full, in a manner satisfactory to the Collateral Agent, of the following conditions precedent (other than the conditions set forth in clause (b)) (such date, the “Amendment Effective Date”):

 (a) Delivery of Documents. The Collateral Agent shall have received on or before the Amendment Effective Date, 
 (i) counterparts to this Amendment signed by each of the Loan Parties, the Lenders and the Agents, and, unless indicated otherwise, dated
the Amendment Effective Date in form and substance satisfactory to the Collateral Agent. 
 (ii) a copy of the resolutions of
each Loan Party, certified as of the date hereof by an Authorized Officer thereof, authorizing the execution and delivery of this Amendment and the other documents to be executed and delivered by such Person in connection herewith and authorizing
the transactions contemplated hereby and certified by the Secretary of each Loan Party; 
 (iii) a certificate of an
Authorized Officer of each Borrower, certifying as to the matters set forth in clause (b) of this Section 3; 
 (iv)
a certificate of the appropriate official(s) of the state of organization certifying as to the subsistence in good standing of each Loan Party in such jurisdiction; 
 (v) a certificate of an Authorized Officer of each Loan Party certifying that the charter and by-laws, limited liability company
agreement, operating agreement, agreement of limited partnership or other organizational documents delivered to the Collateral Agent pursuant to the Financing Agreement (or, in the case of Milnot Company, the Third Amendment to Financing Agreement,
dated as of December 23, 2004) remain in full force and effect and have not been amended or modified since the Effective Date (or, in the case of Milnot Company, since the date such documents were delivered pursuant to the Third Amendment to
Financing Agreement, dated as of December 23, 2004); and 
 (vi) such other agreements, instruments, approvals, opinions
and other documents as the Collateral Agent may reasonably request. 
 (b) Representations and Warranties. The representations and
warranties contained in Article VI of the Financing Agreement and in each other Loan Document, certificate or other writing delivered on or on behalf of any Loan Party to any Agent or any Lender pursuant to the Financing Agreement or any other Loan
Document on or prior to the Amendment Effective Date are true and correct in all material respects on and as of such date as though made on and as of such date (except that any representation and warranty expressly made as of a specific date shall
be true and correct only as of such specific date), and no Default or Event of Default shall have occurred, assuming effectiveness of this Amendment, and be continuing on the Amendment Effective Date or would result from this Amendment becoming
effective in accordance with its terms. 

 (c) Legal Matters. All legal matters incident to this Amendment shall be satisfactory to the
Collateral Agent and its counsel. 
 (d) Payment of Expenses. The Borrower will pay on demand all reasonable fees, costs and expenses
of the Collateral Agent in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without limitation, the reasonable fees, disbursements and other charges of counsel to the
Collateral Agent. 
 (e) Amendment Fee. (i) The Borrower shall have paid to the Administrative Agent, for the benefit of the
Revolving A Lenders, an amendment fee equal to $2,500, in immediately available funds, which shall be deemed fully earned on the Amendment Effective Date and which may, at the Administrative Agent’s discretion, be paid by the Administrative
Agent charging such fee to the Borrowers’ Loan Account. 
 (ii) The Borrower shall have paid to the Administrative Agent, for the
benefit of the Revolving B Lenders, an amendment fee equal to $150,000, in immediately available funds, which shall be deemed fully earned on the Amendment Effective Date and which may, at the Administrative Agent’s discretion, be paid by the
Administrative Agent charging such fee to the Borrowers’ Loan Account. 
 4. Representations and Warranties. Each Loan Party that
is a party to the Financing Agreement hereby represents and warrants to the Agents and the Lenders as follows: 
 (a) Representations and
Warranties; No Event of Default. The representations and warranties herein, in Article VI of the Financing Agreement and in each other Loan Document, certificate or other writing delivered on or on behalf of any Loan Party to any Agent or any
Lender pursuant to the Financing Agreement or any other Loan Document on or prior to the Amendment Effective Date are true and correct in all material respects on and as of such date as though made on and as of such date (except that any
representation and warranty made as of a specific date shall be true and correct only as of such specific date), and no Default or Event of Default has occurred and is continuing as of the Amendment Effective Date or would result from this Amendment
becoming effective in accordance with its terms. 
 (b) Organization, Good Standing, Etc. Each Loan Party (i) is a corporation,
limited liability company or limited partnership duly organized, validly existing and in good standing under the laws of the state or jurisdiction of its organization, (ii) has all requisite power and authority to conduct its business as now
conducted and as presently contemplated and, in the case of the Borrower, to make the borrowings under the Financing Agreement, as amended hereby, and to execute and deliver this Amendment, and to consummate the transactions contemplated hereby, and
(iii) is duly qualified to do business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary, other than in
such jurisdictions where the failure to be so qualified and in good standing could not reasonably be expected to have a Material Adverse Effect. 

 (c) Authorization, Etc. The execution, delivery and performance by each Loan Party of this
Amendment, the Financing Agreement, as amended hereby and each Loan Document to which it is or will be a party, (i) have been duly authorized by all necessary action on the part of each Loan Party that is a party thereto, (ii) do not and
will not contravene its charter or by-laws, its limited liability company or operating agreement or its certificate of partnership or partnership agreement, as applicable, or any applicable law or any other Loan Document, any Material Contract or
any other contractual restriction binding on or otherwise affecting it or any of its properties, (iii) do not and will not result in or require the creation of any Lien (other than pursuant to any Loan Document) upon or with respect to any of
its properties, and (iv) do not and will not result in any default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable to its operation or any of its
properties, which, in the case of this clause (iv), could reasonably be expected to have a Material Adverse Effect. 
 (d) Governmental
Approvals. No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required in connection with the due execution, delivery and performance by any Loan Party of this Amendment, the Financing
Agreement, as amended hereby or any Loan Document to which it is or will be a party except for such of the foregoing that will have been made or obtained on or before the Amendment Effective Date and filings necessary to perfect security interests
under the Loan Documents. 
 (e) Enforceability of Loan Documents. This Amendment, the Financing Agreement, as amended hereby and each
other Loan Document to which any Loan Party is or will be a party, when delivered hereunder, will be, a legal, valid and binding obligation of such Person, enforceable against such Person in accordance with its terms, except as may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally or by general equitable principles relating to enforceability. 

 5. Continued Effectiveness of Financing Agreement. Each Loan Party hereby (i) confirms
and agrees that each Loan Document to which it is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that on and after the Amendment Effective Date all references in any such
Loan Document to “the Financing Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Financing Agreement shall mean the Financing Agreement as amended by this Amendment, and
(ii) confirms and agrees that to the extent that any such Loan Document purports to assign or pledge to the Collateral Agent, or to grant to the Collateral Agent, a Lien on any collateral as security for the Obligations of the Borrower from
time to time existing in respect of the Financing Agreement and the Loan Documents, such pledge, assignment and/or grant of a Lien is hereby ratified and confirmed in all respects. Except as expressly amended pursuant hereto and except for the
amendments expressly contained herein, no other changes or modifications or waivers to the Financing Agreement is intended or implied, and in all other respects the Financing Agreement is hereby specifically ratified, restated and confirmed by all
parties hereto as of the effective date hereof. 
 6. Release. Each Loan Party hereby acknowledges and agrees that:
(a) neither it nor any of its Affiliates has any claim or cause of action against any Agent, any Lender or the L/C Issuer (or any of their respective Affiliates, officers, directors, employees, attorneys, consultants or agents) and
(b) each Agent, each Lender and the L/C Issuer has heretofore properly performed and satisfied in a timely manner all of its obligations to the Loan Parties and their Affiliates under the Financing Agreement and the other Loan Documents.
Notwithstanding the foregoing, the Agents, the Lenders and the L/C Issuer wish (and the Loan Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect
any of the Agents’, the Lenders’ and the L/C Issuer’s rights, interests, security and/or remedies under the Financing Agreement and the other Loan Documents. Accordingly, for and in consideration of the agreements contained in this
Amendment and other good and valuable consideration, each Loan Party (for itself and its Affiliates and the successors, assigns, heirs and representatives of each of the foregoing) (collectively, the “Releasors”) does hereby fully,
finally, unconditionally and irrevocably release and forever discharge each Agent, each Lender and the L/C Issuer and each of their respective Affiliates, officers, directors, employees, attorneys, consultants and agents (collectively, the
“Released Parties”) from any and all debts, claims, obligations, damages, costs, attorneys’ fees, suits, demands, liabilities, actions, proceedings and causes of action, in each case, whether known or unknown, contingent or
fixed, direct or indirect, liquidated or unliquidated, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, anticipated or unanticipated and of whatever nature or description, and whether in law or in
equity, under contract, tort, statute or otherwise, which any Releasor has heretofore had or now or hereafter can, shall or may have against any Released Party by reason of any act, omission or thing whatsoever done or omitted to be done on or prior
to the Amendment Effective Date arising out of, connected with or related in any way to this Amendment, the Financing Agreement or any other Loan Document, or any act, event or transaction related or attendant thereto, or the agreements of any
Agent, any Lender or the L/C Issuer contained therein, or the possession, use, operation or control of any of the assets of any Loan Party, or the making of any Loans or other advances, or the management of such Loans or advances or the Collateral.

 7. Miscellaneous. 
 (a) This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be equally effective as delivery of an original executed counterpart of this Amendment. 
 (b) Section and paragraph headings herein are included for convenience of reference only and shall not constitute a part of this Amendment for any other
purpose. 
 (c) This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 
 (d) Each Loan Party hereby acknowledges and agrees that this Amendment constitutes a “Loan Document” under the Financing Agreement.
Accordingly, it shall be an Event of Default under the Financing Agreement if (i) any representation or warranty made by a Loan Party under or in connection with this Amendment shall have been untrue, false or misleading in any material respect
when made, or (ii) a Loan Party shall fail to perform or observe any term, covenant or agreement contained in this Amendment. 
 (e)
This Amendment is not, and shall not be deemed to be, a waiver of, or a consent to any Event of Default, event with which the giving of notice or lapse of time or both may result in an Event of Default, or other noncompliance now existing or
hereafter arising under the Financing Agreement and the other Loan Documents. 
 8. The Borrower will pay on demand all reasonable
out-of-pocket costs and expenses of the Collateral Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees, disbursements and other charges of legal
counsel to the Collateral Agent. 
 9. THE LOAN PARTIES, THE AGENTS AND THE LENDERS EACH HEREBY IRREVOCABLY WAIVE 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 AMENDMENT OR THE ACTIONS OF THE AGENTS OR THE LENDERS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 [Remainder of this page intentionally left blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

			
	 BORROWER:

	
	 EAGLE FAMILY FOODS, INC.

		
	 By:
	 	 /s/ Michael P. Conti

	 Name:
	 	Michael P. Conti
	 Title:
	 	Vice-President Finance
	
	 GUARANTORS:

	
	 EAGLE FAMILY FOODS HOLDINGS, INC.

		
	 By:
	 	 /s/ Michael P. Conti

	 Name:
	 	Michael P. Conti
	 Title:
	 	Vice-President Finance
	
	 MILNOT COMPANY

		
	 By:
	 	 /s/ Michael P. Conti

	 Name:
	 	Michael P. Conti
	 Title:
	 	Vice-President Finance

			
	 COLLATERAL AGENT AND LENDER:

	
	 FORTRESS CREDIT OPPORTUNITIES I LP

		
	 By:
	 	 Fortress Credit Opportunities I GP LLC,
 its general
partner

		
	 By:
	 	 /s/ Constantine M. Dakolias

	 Name:
	 	Constantine M. Dakolias
	 Title:
	 	Chief Credit Officer
	
	 FORTRESS CREDIT FUNDING I LP

		
	 By:
	 	 Fortress Credit Funding I GP LLC,
 its general
partner

		
	 By:
	 	 /s/ Constantine M. Dakolias

	 Name:
	 	Constantine M. Dakolias
	 Title:
	 	Chief Credit Officer
	
	ADMINISTRATIVE AGENT AND LENDER:
	
	 WACHOVIA BANK, NATIONAL ASSOCIATION formerly known as Congress Financial Corporation (Central)

		
	 By:
	 	 /s/ Mark Gavolic

	 Name:
	 	Mark Gavolic
	 Title:
	 	Director

			
	LENDERS:
	
	 ABLECO FINANCE LLC, on behalf
 of itself and its affiliate assigns

		
	 By:
	 	 /s/ Dan Wolf

	 Name:
	 	Dan Wolf
	 Title:
	 	Senior Vice-President

			
	OAK HILL SECURITIES FUND, L.P.
		
	 By:
	 	 Oak Hill Securities GenPar, L.P.
 its General
Partner

		
	 By:
	 	 Oak Hill Securities MGP, Inc.,
 its General
Partner

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person
	
	 OAK HILL SECURITIES FUND II, L.P.

		
	 By:
	 	 Oak Hill Securities GenPar II, L.P.
 its General
Partner

		
	 By:
	 	 Oak Hill Securities MGP II, Inc.,
 its General
Partner

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person
	
	 OAK HILL CREDIT ALPHA FUND, LP

		
	 By:
	 	 Oak Hill Credit Alpha GenPar, L.P.,
 Its General
Partner

		
	 By:
	 	 Oak Hill Credit Alpha MGP, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person

			
	 OAK HILL CREDIT ALPHA FUND (OFFSHORE), LTD.

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person
	
	 OAK HILL CREDIT ALPHA FINANCE I (OFFSHORE), LTD.

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person
	
	 OAK HILL CREDIT ALPHA FINANCE I, LLC

		
	 By:
	 	 Oak Hill Credit Alpha Fund, L.P.
 Its
Member

		
	 By:
	 	 Oak Hill Credit Alpha Gen Par, L.P.
 Its General
Partner

		
	 By:
	 	 Oak Hill Credit Alpha MGP, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person
	
	 OAK HILL CREDIT OPPORTUNITIES FINANCING, LTD.

		
	 By:
	 	 /s/ Scott Kruse

	 Name:
	 	Scott Kruse
	 Title:
	 	Authorized Person

 ANNEX I 
 SCHEDULE 1.01(A) – LENDERS AND LENDERS’ COMMITMENTS 
 Revolving A Credit Commitments

  

							
	 Lender
	  	 Revolving A Credit
 Commitment
	  	 Percentage of
 Revolving A Credit
 Commitment
	 
	 Wachovia Bank, National Association formerly known as Congress Financial Corporation (Central)
	  	$	35,000,000	  	100	%
	 Total
	  	$	35,000,000	  	100	%

 Revolving B Credit Commitments 
  

							
	 Lender
	  	 Revolving B Credit
 Commitment
	  	 Percentage of
 Revolving B Credit
 Commitment
	 
	 Fortress Credit Opportunities I LP (together with its affiliate assigns)
	  	$	24,545,454.12	  	40.90909019640	%
	 Ableco Finance LLC (together with its affiliate assigns)
	  	$	24,545,454.12	  	40.90909019640	%
	 Oak Hill Securities Fund, L.P.
	  	$	1,275,432.54	  	2.12572090606	%
	 Oak Hill Securities Fund II, L.P.
	  	$	2,967,925.06	  	4.94654177452	%
	 Oak Hill Credit Alpha Fund
	  	$	403,636.36	  	0.67272726428	%
	 Oak Hill Credit Alpha Fund (Offshore), Ltd.
	  	$	687,272.72	  	1.14545452852	%
	 Oak Hill Credit Opportunities Financing, Ltd.
	  	$	2,272,876.18	  	3.78812696298	%
	 Oak Hill Credit Alpha Finance I, LLC
	  	$	877,963.80	  	1.46327300028	%
	 Oak Hill Credit Alpha Finance I (Offshore), Ltd.
	  	$	2,423,985.10	  	4.03997517057	%
			
	 TOTAL
	  	$	60,000,000	  	100	%Form of Award Agreement

 Exhibit 10.1 
 MEADWESTVACO CORPORATION 
 Form of Award Agreement 
 The performance-based restricted stock unit award is subject to the following terms and conditions: 
  

	 	1.	Automatic Forfeiture: Your Award will automatically be forfeited under the following circumstances: 

  

	 	a.	Your employment is terminated for “gross misconduct.” Gross misconduct is defined as (i) fraud, misappropriation or embezzlement; (ii) engaging in conduct that
is demonstratively and materially injurious to the Company; (iii) gross or intentional neglect of duties or responsibilities as an employee; or (iv) gross or intentional violation of the Company’s policies and procedures;

  

	 	b.	You render services, directly or indirectly, to any third party engaged in competition with the Company; 

  

	 	c.	You, directly or indirectly, solicit any person or entity that you knew (or should have known) to be a customer of the Company or any of its affiliates with respect to any of the
services or products that the Company or any of its affiliates then provide to customers; or 

  

	 	d.	You, directly or indirectly, solicit or hire any person who then is an employee of the Company or any of its affiliates. 

  

	 	2.	Vesting Period: Your Award is not vested as of the Award Date and will be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. Subject to
termination or acceleration as provided in this Agreement, your Award will ordinarily become fully vested upon the third anniversary of the Award Date, subject to your continued employment by the Company, and the Company’s
satisfactory completion of performance objectives (set forth below) designated by the Compensation and Organization Development Committee (the “Committee”) of the Board of Directors of the Company, and the Committee’s written
certification thereof. Restricted stock units granted under your Award that have vested and are no longer subject to forfeiture are referred to as “Vested Units.” Restricted stock units granted under your Award that are not vested
and remain subject to forfeiture are referred to herein as “Unvested Units.” 

 In addition to continued employment through the third anniversary of the Award Date, the vesting of your
Award is contingent upon the Company achieving by the end of the three-year performance period beginning January 1, 2007 and ending on December 31, 2009 (the “Performance Period”) certain performance goals with respect to
return on invested capital and revenue from new products, as approved by the Committee. The number of restricted stock units that vest will be determined in accordance with these goals. 
 In the event that the Company’s performance falls below the Target level performance goals, the number of Vested Units shall be determined by linear
interpolation; provided, that no portion of your Award shall vest in the event the Company’s performance level falls below the Threshold level performance goals. Notwithstanding anything herein to the contrary, in no event will more than 200%
of the number of Target Units become vested. 
 Following the end of the Performance Period and the collection of relevant data necessary to
determine the extent to which the performance goals have been satisfied, the Committee will determine: (a) the percentage of return on invested capital during the third year of the Performance Period and revenue from new products that was
achieved by the Company over the Performance Period; and (b) the percentage of the Award that vested as of the last day of the Performance Period as a result of such achievement. The Committee shall make these determinations in its sole
discretion. To the extent required under Section 162(m) of the Internal Revenue Code, the level of achievement of the performance goals shall be evidenced by the Committee’s written certification. For the avoidance of doubt, any restricted
stock units subject to this Award that do not vest in accordance with the forgoing shall expire without consideration at the end of the Performance Period. 
  

	 	3.	Settlement of Vested Units: 

  

	 	a.	Each Vested Unit will be settled by the delivery of one Share (subject to adjustment under Section 4.1 of the MeadWestvaco Corporation 2005 Performance Incentive Plan (the
“Plan”)) to you or, in the event of your death, to your estate, heir or beneficiary, within 60 days following the third anniversary of the Award Date; provided that you have satisfied all of the tax withholding obligations described in
Paragraph 9 below, and that you have completed, signed and returned any documents and taken any additional action that the Company deems appropriate to enable it to accomplish the delivery of the Shares. 

  

	 	b.	 The date upon which Shares are to be issued under either Paragraph 3(a) or 3(b) above is referred to as the “Settlement Date.” The issuance of
the Shares hereunder may be effected by the issuance of a stock certificate, recording shares on the stock records of the Company or by crediting Shares in an account established on your 

	 	 
behalf with a brokerage firm or other custodian, in each case as determined by the Company. Fractional Shares will not be issued pursuant to the Award, but
instead an amount of cash equal to the fair market value of such fractional Shares will be delivered to you. 

  

	 	c.	Notwithstanding anything herein to the contrary, (i) for administrative or other reasons, the Company may from time to time temporarily suspend the issuance of Shares in
respect of Vested Units, (ii) the Company shall not be obligated to deliver any Shares during any period when the Company determines that the delivery of shares hereunder would violate any federal, state or other applicable laws, (iii) the
Company may issue Shares hereunder subject to any restrictive legends that, as determined by the Company’s counsel, are necessary to comply with securities or other regulatory requirements, and (iv) the date on which Shares are issued
hereunder may include a delay in order to provide the Company such time as it determines appropriate to address tax withholding and other administrative matters. 

  

	 	4.	Transfer Restrictions: Unless the Committee provides otherwise, your Award and the Shares subject thereto (and any right or interest therein) may not be sold, transferred,
assigned, pledged or otherwise encumbered or disposed of prior to the issuance of such Shares pursuant to Paragraph 3 above. The Company may cancel your Award if you attempt to assign or transfer it in a manner inconsistent with this
Paragraph 4. 

  

	 	5.	Termination of Employment: On the date your employment with the Company terminates for any reason, except as provided in this Paragraph 5 or in Paragraph 6 below,
all then Unvested Units will be forfeited by you and cancelled and surrendered to the Company without payment of any consideration. 

  

	 	a.	If your employment with the Company terminates after the first anniversary of the Award Date as a result of (i) your death or “disability” (as determined under the
MeadWestvaco Corporation Retirement Plan for Salaried and Non-Bargained Hourly Employees) or (ii) Retirement (as defined below), a portion of the Award will vest at the end of the Performance Period, based on achievement of the performance
objectives. The portion of the Award that will vest is the total number of then Unvested Units that would have become vested multiplied by a fraction, (A) the numerator of which equals the number of full calendar months that have elapsed
between the Award Date and the date of your termination of employment and (B) the denominator of which equals 36. For purposes of this Agreement, the term “Retirement” shall mean a termination of your employment with the Company,
other than for gross misconduct, after having attained either (x) the age of 62 with 20 years of service with the Company or (y) the age of 65. 

	 	b.	If your employment with the Company terminates after the first anniversary of the Award Date as a result of a “job elimination” or “mutual agreement” between you
and the Company to terminate your employment relationship (as each such term is defined under the Company’s severance pay plans in existence from time to time), and subject to your execution and non-revocation of a general release in favor of
the Company and its affiliates in a form provided by the Company, a portion of the Award will vest at the end of the Performance Period, based on achievement of the performance objectives. The portion of the Award that will vest is the total number
of then Unvested Units that would have become vested multiplied by a fraction, (A) the numerator of which equals the number of full calendar months that have elapsed between the Award Date and the date of your termination of employment and
(B) the denominator of which equals 36. 

 Unvested Units that become Vested Units under this Paragraph 5 shall not be
delivered to the Participant (or Beneficiary, if applicable) in Shares, until after the close of the Performance Period, subject to the Company’s satisfactory completion of performance objectives (set forth above) as approved by the Committee.

  

	 	6.	Change in Control: Notwithstanding anything in Section 4.2(b) of the Plan to the contrary: 

  

	 	a.	In the event that a Change of Control (as such term is defined in the Plan) occurs and (i) the acquiring or surviving company in the Change of Control assumes upon and
maintains this Award immediately following the Change of Control (subject to adjustment as to the number and kind of shares as may be determined appropriate by the Committee prior to the Change in Control) and (ii) your employment with the
Company terminates for any reason other than gross misconduct (as defined in Paragraph 1 above) or your voluntary resignation, death, disability or Retirement, within twenty-four months following the Change of Control, then:

  

	 	i.	If the termination of employment occurs prior to the date on which fifty percent (50%) of the Performance Period has elapsed, the Award shall be deemed to have become vested
immediately prior to such termination of employment with respect to that portion of the Award that would have become vested assuming the Target level performance goals had been achieved, pro-rated based upon the percentage of the Performance Period
that has elapsed between the Award Date and the date of the termination of employment, or 

	 	ii.	If the termination of employment occurs on or following the date on which fifty percent (50%) of the Performance Period has elapsed, the Award shall be deemed to have become
vested immediately prior to such termination of employment with respect to that portion of the Award that would have become vested based upon actual performance through a date occurring within three months prior to the date of the termination of
employment (as determined by the Committee), and pro-rated based upon the percentage of the Performance Period that has elapsed between the Award Date and the date of the termination of employment. 

  

	 	iii.	The vested Award amount shall be paid within 60 days after termination of employment. 

  

	 	b.	In the event that a Change of Control occurs and the acquiring or surviving company in the Change of Control does not assume this Award upon the Change of Control, the Award shall
become fully vested at the Target level immediately prior to the consummation of the Change of Control. The vested Award shall be paid immediately upon the Change of Control. 

  

	 	7.	Dividend Equivalent Rights: From and after the Award Date and through the Settlement Date in Paragraph 3, unless and until the Award is forfeited or otherwise transferred
back to the Company, you will be credited with additional restricted stock units having a value equal to dividends declared by the Company, if any, with record dates that occur prior to the Settlement Date as if the Shares underlying your Award had
been issued and outstanding, based on the fair market value of a Share on the applicable dividend payment date. Any such additional restricted stock units shall be considered part of the Award and shall also be credited with additional restricted
stock units as dividends, if any are declared, and shall be subject to the same restrictions and conditions as the restricted stock units subject to the Award with respect to which they were credited (including, but not limited to, the vesting and
forfeiture provisions set forth above). Notwithstanding the foregoing, no such additional restricted stock units will be credited with respect to any dividend declared by the Company in connection with which the Award is adjusted pursuant to
Section 4.1 of the Plan. In no event will more than 200% of the Target Units for each participant be payable under this Plan, including units purchased with dividend equivalents. 

  

	 	8.	 Rights as a Stockholder: Prior to any issuance of Shares in settlement of the Award, no Shares will be reserved or earmarked for you or your account nor
shall you have any of the rights of a stockholder with respect to such Shares. Except 

	 	 
as set forth in Paragraph 7 above, you will not be entitled to any privileges of ownership of the Shares (including, without limitation, any voting
rights) underlying Vested Units and/or Unvested Units unless and until Shares are actually delivered to you hereunder. 

  

	 	9.	Income Taxes: 

  

	 	a.	You will be subject to federal and state income and other tax withholding requirements on a date (generally, the Settlement Date) determined by applicable law (the “Taxable
Date”), based on the fair market value of the Shares that are issued and any cash that is paid to you with respect to Vested Units and dividends. You will be solely responsible for the payment of all U.S. federal income and other taxes,
including any state, local or non-U.S. income or employment tax obligation that may be related to the Vested Units and related dividends, including any such taxes that are required to be withheld and paid over to the applicable tax authorities (the
“Tax Withholding Obligation”). You will be responsible for the satisfaction of such Tax Withholding Obligation in a manner acceptable to the Company in its sole discretion. 

  

	 	b.	Unless the Company provides for an alternative means for you to satisfy your Tax Withholding Obligation, the Company shall withhold from the Shares and any cash payable on the
Taxable Date the minimum required tax withholding amount applicable to the amount distributed. You agree to pay to the Company as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation
that is not satisfied by the withholding described above. 

  

	 	c.	The Company will not issue any Shares to you until you satisfy the Tax Withholding Obligation. You acknowledge that the Company has the right to retain without notice from Shares or
cash issued under the Award or from salary or other amounts payable to you, Shares or cash having a value sufficient to satisfy the Tax Withholding Obligation. 

  

	 	d.	You are ultimately liable and responsible for all taxes owed by you in connection with the Award, regardless of any action the Company takes pursuant to this Paragraph 9 with
respect to any Tax Withholding Obligation that arise in connection with the Award. The Company makes no representation or undertaking regarding the treatment of any tax withholding in connection with the grant, issuance, vesting or settlement of the
Award or the subsequent sale of any of the Shares underlying Vested Units. The Company does not commit and is under no obligation to structure the Award to reduce or eliminate your tax liability. 

	 	10.	Restrictions On Resales Of Shares: The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales
by you or other subsequent transfers by you of any Shares issued in respect of Vested Units, including without limitation (a) restrictions under an insider trading policy, (b) restrictions designed to delay and/or coordinate the timing and
manner of sales by you and other holders and (c) restrictions as to the use of a specified brokerage firm for such resales or other transfers. Any sale of Shares issued pursuant to this Award is subject to the limitations contained in the
Company’s Policy on Securities Trading, including a “window period” and pre-clearance procedure. 

  

	 	11.	Not a Contract for Employment: Nothing in the Plan or this Agreement or any other instrument executed pursuant to the Plan or this Agreement shall confer upon you any right
to continue in the Company’s employ or service nor limit in any way the Company’s right to terminate your employment at any time for any reason. 

  

	 	12.	Miscellaneous: 

  

	 	a.	In the event that any provision of this Agreement is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such provision shall be
reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of this Agreement shall not be affected except to the extent necessary to reform or delete such illegal, invalid or
unenforceable provision. 

  

	 	b.	The headings preceding any text in this Agreement are inserted solely for convenience of reference, and shall not constitute a part of this Agreement, nor shall they affect its
meaning, construction or effect. 

  

	 	c.	Each party shall cooperate and take such action as may be reasonably requested by another party in order to carry out the provisions and purposes of this Agreement.

  

	 	d.	This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.

 By your signature and the Company’s signature below, you and the Company agree that this Award is granted under and
governed by the terms and conditions of this Agreement and the Company’s 2005 Performance Incentive Plan, you agree to be bound by the terms of the Plan and this Agreement, and you agree that all decisions and determinations of the Committee
with respect to the Award shall be final and binding. 
  

					
	  
	  	
		 	  
	  	
	 MEADWESTVACO CORPORATION
	  	 Date

	  
	  	
		 	  
	  	
	 Name
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	 Print Name

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