Document:

Exhibit 10.10

                        GRAPHIC PACKAGING
                  EQUITY COMPENSATION PLAN FOR
                     NON-EMPLOYEE DIRECTORS

                      Amended and Restated
                    Effective March    , 2001

                        TABLE OF CONTENTS

                                                            Page

Section 1 - Introduction                                      1

   1.1 Introduction                                           1
   1.2 Purposes                                               1
   1.3 Effective Date                                         1

Section 2 - Definitions                                       1

   2.1 Definitions                                            1
   2.2 Gender and Number                                      3

Section 3 - Plan Administration                               3

Section 4 - Stock Subject to the Plan                         3

   4.1 Number of Shares                                       3
   4.2 Other Shares of Stock                                  3
   4.3 Adjustments for Stock Split, Stock Dividend, Etc       4
   4.4 Other Distributions and Changes in the Stock           4
   4.5 General Adjustment Rules                               4
   4.6 Determination by the Committee, Etc                    5

Section 5 - Participation                                     5

   5.1 In General                                             5
   5.2 Restriction on Award Grants to Certain Individuals     5

Section 6 - Restricted Stock Awards                           5

   6.1 Minimum Grant of Restricted Stock                      5
   6.2 Elective Grant of Restricted Stock                     5
   6.3 Date of Grant, Number of Shares                        6
   6.4 Retention of Award, Termination                        6
   6.5 Restrictions                                           6
   6.6 Lapse of Restrictions                                  6
   6.7 Privileges of a Stockholder, Transferability           6
   6.8 Enforcement of Restrictions                            7

Section 6A - Grant of Options to Directors                    7

   6A.1 Grant                                                 7
   6A.2 Date of Grant                                         7
   6A.3 Stock Option Certificates                             7
   6A.4 Shareholder Privileges                                9

Section 6B - Grants to Subsidiary Directors                   9

   6B.1 Grant                                                 9
   6B.2 Stock Option Certificates                             9
   6B.3 Restricted Stock                                     10
   6B.4 Shareholder Privileges                               11

Section 7 - Reorganization or Change of Control              11

   7.1 Reorganization                                        11
   7.2 Change of Control                                     12

Section 8 - Rights of Directors                              12

   8.1 Retention as Director                                 12
   8.2 Nontransferability                                    12

Section 9 - General Restrictions                             13
   9.1 Investment Representations                            13
   9.2 Compliance with Securities Laws                       13
   9.4 Changes in Accounting Rules                           13
   9.4 Withholding of Tax                                    13

Section 10 - Plan Amendment, Modification and Termination    14

Section 11 - Requirements of Law                             14

   11.1 Requirements of Law                                  14
   11.2 Federal Securities Law Requirements                  14
   11.3 Governing Law                                        14

Section 12 - Duration of the Plan                            15

                        GRAPHIC PACKAGING
                    EQUITY COMPENSATION PLAN
                   FOR NON-EMPLOYEE DIRECTORS

                      Amended and Restated
                    Effective March    , 2001

                            Section 1

                          Introduction

           1.1   Introduction.   Graphic Packaging  International
Corporation, a Colorado corporation (the "Company"),  established
the  Graphic  Packaging Equity Compensation Plan for Non-Employee
Directors  (the "Plan") for certain Directors (as defined  below)
of  the  Company.   The Plan, which provides  for  the  grant  of
restricted  stock  awards  to  Directors  of  the  Company,   was
effective August 12, 1992.  The Plan was amended and restated  in
its  entirety,  effective November 11, 1992,  January  21,  1994,
November  14, 1995, May 13, 1997, and May 9, 2000.   Pursuant  to
the  power  granted in Section 10, the Company hereby amends  and
restates the Plan in its entirety, effective March   , 2001.

           1.2   Purposes.   The  purposes of  the  Plan  are  to
encourage the Directors and Subsidiary Directors to own shares of
the  Company's  stock and thereby to align their  interests  more
closely  with  the  interests of the other  shareholders  of  the
Company,  to  encourage the highest level of director performance
by  providing  the  directors  with  a  direct  interest  in  the
Company's  attainment of its financial goals, and  to  provide  a
financial  incentive that will help attract and retain  the  most
qualified directors.

          1.3  Effective Date.  The Effective Date of the Plan is
August 12, 1992.  The Plan, each amendment to the Plan, and  each
award granted under the Plan is conditioned on and shall be of no
force and effect until approval of the Plan by the holders  of  a
majority of the shares of voting stock of the Company, unless the
Company,  on  the  advice of counsel determines that  shareholder
approval is not necessary.

                            Section 2

                           Definitions

           2.1  Definitions.  The following terms shall have  the
meanings set forth below:

                (a)  "Board" means the Board of Directors of  the
Company.

                (b)  "Committee" means a committee consisting  of
members of the Board, including the full Board, who are empowered
hereunder to take actions in the administration of the Plan.  The
Committee  shall be so constituted at all times as to permit  the
Plan to comply with Rule 16b-3, or any successor rule promulgated
under  the  Securities  Exchange Act of  1934.   Members  of  the
Committee  shall  be appointed from time to time  by  the  Board,
shall  serve at the pleasure of the Board and may resign  at  any
time upon written notice to the Board.

                (c) "Director" means a member of the Board who is
neither  an officer nor an employee of the Company.  For purposes
of the Plan, an employee is an individual whose wages are subject
to  the  withholding of federal income tax under Section 3401  of
the  Internal  Revenue  Code, and an  officer  is  an  individual
elected or appointed by the Board or chosen in such other  manner
as  may  be prescribed in the bylaws of the Company to  serve  as
such.

                (d)  "Fair Market Value" means the average of the
highest  and lowest prices of the Stock as reported  on  the  New
York Stock Exchange ("NYSE") on a particular date.  If there  are
no  Stock transactions on such date, the Fair Market Value  shall
be determined as of the immediately preceding date on which there
were  Stock  transactions.  If the price  of  the  Stock  is  not
reported  on  NYSE, the Fair Market Value of  the  Stock  on  the
particular date shall be as determined by the Committee  using  a
reference comparable to the NYSE system.  If, upon exercise of an
Option,  the exercise price is paid by a broker's transaction  as
provided in subsection 6A.3(g)(ii)(c) or subsection 6B.2(g),  the
Fair  Market  Value, for purposes of the exercise, shall  be  the
price at which the Stock is sold by the broker.

                (e)   "Internal Revenue Code" means the  Internal
Revenue Code of 1986, as it may be amended from time to time.

                (f) "Option" means a right to purchase Stock at a
stated price for a specified period of time.  All options granted
under the Plan shall be "non-qualified stock options" whose grant
is  not  intended to fall under the provisions of Section 422  of
the Code.

                (g)   "Option  Price" means the  price  at  which
shares  of  Stock  subject  to an Option  may  be  purchased,  as
determined  in  accordance with subsection 6A.3(b) or  subsection
6B.2(b).

                (h)   "Restricted Stock Award" means an award  of
Stock  granted to a Director or Subsidiary Director  pursuant  to
Section  6  or Section 6B that is subject to certain restrictions
imposed in accordance with the provisions of the Plan.

                (i)   "Stock"  means the $0.01 par  value  Common
Stock of the Company.

                (j)   "Subsidiary" means a corporation, more than
50%  of  the  stock  of  which is owned  by  the  Company,  or  a
corporation, more than 50% of the stock of which is  owned  by  a
Subsidiary.

                (k)  "Subsidiary Director" means a member of  the
board of directors of a Subsidiary, who is neither an officer  or
employee  of the Subsidiary nor an officer, employee, or director
of  the  Company.  For purposes of the Plan, an  employee  is  an
individual whose wages are subject to the withholding of  federal
income  tax under Section 3401 of the Internal Revenue Code,  and
an  officer is an individual elected or appointed by the board of
directors of the Subsidiary or chosen in such other manner as may
be prescribed in the bylaws of the Subsidiary to serve as such.

            2.2    Gender  and  Number.   Except  when  otherwise
indicated by the context, the masculine gender shall also include
the feminine gender, and the definition of any term herein in the
singular shall also include the plural.

                            Section 3

                       Plan Administration

            The   Committee   shall  be   responsible   for   the
administration of the Plan.  However, the Committee shall have no
authority, discretion or power to select the Directors  who  will
receive  Restricted  Stock  Awards  or  Options,  determine   the
Restricted Stock Awards to be granted pursuant to the  Plan,  the
number of shares of Stock to be issued thereunder or the time  at
which  such Restricted Stock Awards are to be granted,  determine
the  number of shares subject to an Option granted to a Director,
establish  the duration and nature of Restricted Stock Awards  or
Options or alter any other terms or conditions specified  in  the
Plan,  except in the sense of administering the Plan  subject  to
the provisions of the Plan.  However, as to Subsidiary Directors,
the  Committee  shall have the sole discretion and  authority  to
select the Subsidiary Directors to whom Options shall be granted,
the  number  of shares subject to the Options, the Option  Price,
the period and manner in which an Option becomes exercisable, and
all  terms  and  conditions  of the Options  to  the  extent  not
otherwise  specified  in  the Plan.   Subject  to  the  foregoing
limitations,  the  Committee,  by  majority  action  thereof,  is
authorized  to interpret the Plan, prescribe, amend  and  rescind
rules   and  regulations  relating  to  the  Plan,  provide   for
conditions  and  assurances  deemed  necessary  or  advisable  to
protect  the  interests  of  the  Company  and  make  all   other
determinations  necessary or advisable for the administration  of
the  Plan,  but  only to the extent not contrary to  the  express
provisions  of  the  Plan.  No member of the Committee  shall  be
liable  for any action or determination made in good faith.   The
determinations,  interpretations  and  other   actions   of   the
Committee pursuant to the provisions of the Plan shall be binding
and conclusive for all purposes and on all persons.

                            Section 4

                    Stock Subject to the Plan

          4.1  Number of Shares.  Five Hundred Thousand (500,000)
shares  of  Stock are authorized for issuance under the  Plan  in
accordance  with the provisions of the Plan and subject  to  such
restrictions or other provisions as the Committee may  from  time
to time deem necessary.  This authorization may be increased from
time to time by approval of the Board and by the shareholders  of
the  Company if, in the opinion of counsel for the Company,  such
shareholder  approval  is required.  Shares  of  Stock  that  are
issued  as Restricted Stock Awards and that may be issued on  the
exercise of Options shall be applied to reduce the maximum number
of  shares  of Stock remaining available for use under the  Plan.
The Company shall at all times during the term of the Plan retain
as  authorized and unissued Stock at least the number  of  shares
from  time to time required under the provisions of the  Plan  or
otherwise assure itself of its ability to perform its obligations
hereunder.

           4.2   Other Shares of Stock.  Any shares of Stock that
are  subject  to  an  Option that expires or for  any  reason  is
terminated  unexercised shall automatically become available  for
use  under the Plan.  Any shares of Stock that are subject  to  a
Restricted Stock Award and that are forfeited and any  shares  of
Stock  that are withheld for the payment of taxes or received  by
the  Company as payment of the exercise price of an Option  shall
be available for use under the Plan.

           4.3  Adjustments for Stock Split, Stock Dividend, Etc.
If  the Company shall at any time increase or decrease the number
of  its  outstanding shares of Stock or change  in  any  way  the
rights and privileges of such shares by means of the payment of a
stock dividend or any other distribution upon such shares payable
in  Stock,  or through a stock split, subdivision, consolidation,
combination,  reclassification or recapitalization involving  the
Stock,  then in relation to the Stock that is affected by one  or
more  of the above events, the numbers, rights and privileges  of
the  following shall be increased, decreased or changed  in  like
manner as if they had been issued and outstanding, fully paid and
nonassessable at the time of such occurrence:  (i) the shares  of
Stock  as  to  which Restricted Stock Awards and Options  may  be
granted  under  the Plan; and (ii) the shares of the  Stock  then
included  in each outstanding Restricted Stock Award  and  Option
granted hereunder.

          4.4  Other Distributions and Changes in Stock.  If

                (a) the Company shall at any time distribute with
respect  to the Stock assets or securities of persons other  than
the  Company  (excluding  cash or distributions  referred  to  in
Section 4.3),

                (b)  the Company shall at any time grant  to  the
holders  of its Stock rights to subscribe pro rata for additional
shares or for any other securities of the Company, or

                (c)  there  shall be any other change (except  as
described  in  Section 4.3) in the number or kind of  outstanding
shares  of  Stock or of any other stock or securities into  which
the  Stock  shall  be  changed or for which it  shall  have  been
exchanged,

and  if the Committee shall in its discretion determine that  the
event  described  in subsection (a), (b), or (c) above  equitably
requires an adjustment in the number or kind of shares subject to
a  Restricted  Stock Award or Option or the taking of  any  other
action  by  the  Committee,  including  without  limitation,  the
setting  aside  of any property for delivery to  the  Participant
upon  the  exercise  of  an  Option or  the  full  vesting  of  a
Restricted Stock Award, then such adjustments shall be  made,  or
other  action  shall  be  taken, by the Committee  and  shall  be
effective  for  all purposes of the Plan and on each  outstanding
Restricted  Stock  Award or Option that involves  the  particular
type  of  stock for which a change was effected.  Notwithstanding
the  foregoing  provisions  of this Section  4.4,  a  Participant
holding Stock received as a Restricted Stock Award shall have the
right to receive all amounts, including cash and property of  any
kind,  distributed with respect to the Stock after the  grant  of
such  Restricted  Stock Award upon the Participant's  becoming  a
holder of record of the Stock.

           4.5   General  Adjustment  Rules.   No  adjustment  or
substitution  provided for in this Section 4  shall  require  the
Company  to  issue  a fractional share of Stock,  and  the  total
substitution or adjustment with respect to each Restricted  Stock
Award  and  Option  shall be limited by deleting  any  fractional
share.   In  the  case  of  any such substitution  or  adjustment
appropriate adjustments shall be made to Restricted Stock  Awards
and Options to reflect any such substitution or adjustment.

           4.6  Determination by the Committee, Etc.  Adjustments
under  this  Section  4  shall be made by  the  Committee,  whose
determinations  with regard thereto shall be  final  and  binding
upon all parties thereto.

                            Section 5

                          Participation

            5.1    In   General.   Each  Director  shall  receive
Restricted  Stock Awards and Options on the terms and  conditions
set  forth  under the Plan.  Each Director shall, if required  by
the  Committee, enter into an agreement with the Company, in such
form  as  the  Committee shall determine and which is  consistent
with   the  provisions  of  the  Plan.   In  the  event  of   any
inconsistency  between the provisions of the Plan  and  any  such
agreement  entered  into hereunder, the provisions  of  the  Plan
shall  govern.  Each Subsidiary Director who is selected  by  the
Committee  for participation shall receive a grant of Options  or
Restricted Stock Award pursuant to Section 6B.

            5.2    Restriction   on  Award  Grants   to   Certain
Individuals.  Notwithstanding the foregoing provisions of Section
5.1, the Committee shall not grant any Restricted Stock Award  or
Option  to  any  lineal descendant of Adolph Coors,  Jr.  without
first consulting with counsel to the Company as to the effect  of
any  such  grant  on  the possible status of  the  Company  as  a
"personal holding company" within the mean of Section 542 of  the
Internal Revenue Code.

                            Section 6

                     Restricted Stock Awards

           6.1  Minimum Grant of Restricted Stock.  Each Director
shall  receive twenty percent of the value of his annual retainer
as  a  director  in  the form of a Restricted  Stock  Award  (the
"Minimum Grant").

          6.2  Elective Grant of Restricted Stock.

                (a) Beginning in 1994, each Director may make  an
annual  election (the "Election") to receive any or  all  of  the
remaining  cash balance of his annual retainer as a  director  in
the form of a Restricted Stock Award (the "Elective Grant").  The
Minimum Grant and the Elective Grant are referred to collectively
as  the  "Grants".  The Election must be in writing and  must  be
delivered to the Secretary of the Company no later than  the  day
before the last business day of the month during which the annual
meeting of shareholders of the Company is held.

                (b)   For  the period commencing on December  28,
1992,  and  ending  with  the annual  meeting  of  the  Company's
shareholders  in April 1994, a Director may elect to  receive  an
Elective Grant by giving written notice to the Secretary  of  the
Company  no later than the last business day of January 1993.   A
Director  who becomes a Director after January 1993 may elect  to
receive  an  Elective  Grant  by giving  written  notice  to  the
Secretary of the Company no later than the last business  day  of
the month in which the Director is elected to the Board.

                (c)  All Elections made by a Director pursuant to
this Section 6.2 shall be irrevocable.

          6.3  Date of Grant, Number of Shares.

                (a)  The  Minimum Grant for the first  year,  the
period commencing on December 28, 1992 and ending with the annual
meeting  of  the Company's shareholders in April 1994,  shall  be
made  on  the last business day of January 1993.  A Director  who
becomes  a member of the Board after January 1993 and before  the
annual meeting of the Company's shareholders in April 1994  shall
receive  the Minimum Grant on the last business day of the  month
in  which  the  Director is elected to the Board.   Beginning  in
1994, the Minimum Grant shall be made on the last business day of
the  month in which the annual meeting of shareholders  is  held.
Beginning in 1994 and prior to 1997, the Elective Grant shall  be
made  on  the first business day that is at least six months  and
one  day  following the date of the Minimum Grant.  Beginning  in
1997,  the  Elective Grant shall be made on the last day  of  the
month in which the annual meeting of shareholders is held.

                (b)  The total number of shares of Stock included
in  each  such  Restricted Stock Award  shall  be  determined  by
dividing the amount of the Director's retainer that is to be paid
in  restricted stock by the Fair Market Value of a share of stock
on  the date of grant.  In no event shall the Company be required
to  issue  fractional shares.  Whenever under the terms  of  this
Section 6 a fractional share of Stock would otherwise be required
to  be  issued, an amount in lieu thereof shall be paid  in  cash
based upon the Fair Market Value of such fractional share.

           6.4  Retention of Award, Termination.  If a Director's
services  as a Board member are terminated at any time,  for  any
reason, before the date of the annual meeting of the shareholders
of  the  Corporation  next  following the  Minimum  and  Elective
Grants,  all  of  the  shares of Stock granted  pursuant  to  the
Minimum and Elective Grants shall be forfeited.

          6.5  Restrictions.  Except as otherwise provided in the
Plan,  shares  of  Stock received pursuant to a Restricted  Stock
Award   may   not   be  sold,  assigned,  pledged,  hypothecated,
transferred  or  otherwise  disposed of  until  the  restrictions
applicable to such Stock have lapsed pursuant to Section 6.6.

          6.6  Lapse of Restrictions.   All restrictions on Stock
covered  by  Restricted Stock Awards for a year shall lapse  upon
the  date  of  the  annual  meeting of the  shareholders  of  the
Corporation next following the Minimum Grant.

          6.7  Privileges of a Stockholder, Transferability.    A
Director  shall have all voting, dividend, liquidation and  other
rights  with  respect  to  Stock in  accordance  with  its  terms
received by him as a Restricted Stock Award under this Section 6.
A  Director's right to sell, encumber or otherwise transfer Stock
after restrictions applicable to such Stock have lapsed shall  be
subject to the limitations of Section 8.2.

          6.8  Enforcement of Restrictions.   The Committee shall
cause  a  legend  to  be placed on the Stock certificates  issued
pursuant  to  each  Restricted  Stock  Award  referring  to   the
restrictions  imposed in the Plan and, in addition,  may  in  its
sole  discretion require one or more of the following methods  of
enforcing such restrictions:

                (a)   Requiring  the Director to keep  the  Stock
certificates, duly endorsed, in the custody of the Company  while
the restrictions remain in effect; or

                (b)   Requiring that the Stock certificates, duly
endorsed,  be  held  in the custody of a third  party  while  the
restrictions remain in effect.

                           Section 6A

                  Grant of Options to Directors

           6A.1 Grant.  Each Director who is elected to the Board
by the shareholders of the Company for a three year term shall be
granted an Option to purchase 2,000 shares of Stock.  If the term
for  which  the Director is elected is two years, the  number  of
shares  subject to the Option shall be 1332 shares,  and  if  the
terms  for which the Director is elected is one year, the  number
of  shares  subject to the Option shall be 666.  If  insufficient
shares  are  available for grant to each Director  following  the
Directors' election to the Board, the number of shares subject to
each Option shall be reduced pro rata.

          6A.2 Date of Grant.  The Options shall be granted as of
the  last  business  day of the month in which the  shareholders'
meeting  at  which the Director was elected was held (the  "Grant
Date").

          6A.3 Stock Option Certificates.  Each Option granted to
a  Director under the Plan shall be evidenced by a written  stock
option  certificate.  A stock option certificate shall be  issued
by  the Company in the name of the Director to whom the Option is
granted  and shall incorporate and conform to the conditions  set
forth in this Section 6A.3.

                (a)   Number.  Each Director shall receive  under
the  Plan  Options  to purchase the number  of  shares  of  Stock
specified  in Section 6A.1, subject to adjustment as provided  in
Section  4.  Such grants shall be effective at the time specified
in Section 6A.2.

                (b)   Price.  The Option Price for each share  of
Stock covered by the Option shall be the Fair Market Value of the
Stock on the date of grant, subject to adjustment as provided  in
Section 4.

                (c)   Vesting.  An Option covering  2,000  shares
shall  vest  in  increments as follows commencing  on  the  first
anniversary of the Grant Date:

                                      Number of
                Anniversary            Shares
                   First                 666
                   Second                666
                   Third                 667

An  option covering 1332 shares shall vest as to an increment  of
666  shares on the first anniversary of the Grant Date and as  to
the  remaining increment of 666 shares on the second  anniversary
of  the Grant Date.  An Option covering 666 shares shall vest  as
to  all  666  shares on the first anniversary of the Grant  Date.
Except as set forth in Sections 7.1 and 7.2, the Option shall not
be  exercisable  as  to  any shares as to  which  the  continuous
service  requirement has not been satisfied,  regardless  of  the
circumstances under which the Director ceased to be  a  director.
The  number  of  shares as to which the Option may  be  exercised
shall  be cumulative, so that once the Option becomes exercisable
as  to any shares it shall continue to be exercisable as to those
shares  until expiration or termination of the Option as provided
below.

                (d)   Duration of Options.  Each vested increment
shall  be  exercisable  for a period of six  years  (the  "Option
Period")  after  it vests, unless terminated sooner  pursuant  to
subsection (e) below or fully exercised prior to the end of  such
period.

                (e)   Termination of Service,  Death,  Etc.   The
Option  shall  terminate in the following  circumstances  if  the
Director ceases to be a director:

                     (i)   If  the Director is removed  from  the
Board  during  the Option Period for cause, the Option  shall  be
void thereafter for all purposes.

                     (ii)   If the Director ceases to be a member
of   the  Board  for  any  other  reason,  the  Option  shall  be
exercisable for a period of three years following the termination
to  the  extent the Option was vested on the date the  Director's
services as a director cease.

                (f) Transferability, Exercisability.  Each Option
granted  under the Plan shall not be transferable by  a  Director
other  than  by will or the laws of descent and distribution  and
shall  be exercisable during the Director's lifetime only by  the
Director  or,  in the event of disability or incapacity,  by  the
Director's guardian or legal representative.  Notwithstanding any
other  provision  of the Plan, no Option may be exercised  unless
and  until  the  amended and restated Plan  is  approved  by  the
shareholders of the Company in accordance with Section 1.3.

                (g)  Exercise, Payments, Etc.

                     (i)   The method for exercising each  Option
granted  shall be by delivery to the Corporate Secretary  of  the
Company  of  written notice specifying the number of shares  with
respect  to  which  the Option is exercised and  payment  of  the
Option Price.  The notice shall be in a form satisfactory to  the
Committee  and  shall specify the particular Option  (or  portion
thereof)  that is being exercised and the number of  shares  with
respect to which the Option is being exercised.  The exercise  of
the  Option shall be deemed effective upon receipt of such notice
by  the  Corporate  Secretary and payment  to  the  Company.   If
requested   by  the  Company,  such  notice  shall  contain   the
Director's representation that he or she is purchasing the  Stock
for investment purposes only and his or her agreement not to sell
any  stock so purchased in any manner that is in violation of the
Securities Act of 1933, as amended, or any applicable state  law.
Such  restrictions, or notice thereof, shall  be  placed  on  the
certificates  representing the Stock so purchased.  The  purchase
of Stock pursuant to the Option shall take place at the principal
office of the Company upon delivery of such notice, at which time
the  purchase price of the Stock shall be paid in full by any  of
the  methods  set forth in Section 6A.3(g)(ii) or  a  combination
thereof.    A   properly  executed  certificate  or  certificates
representing  the  Stock shall be delivered to  the  Holder  upon
payment therefor.

                (ii)  The exercise price shall be paid by any  of
the  following methods or any combination of such methods, at the
option of the Director:

                    (A)  cash;

                    (B)  certified or cashier's check, payable to
the order of the Company;

                    (C)  delivery  to  the Company of a  properly
executed   notice   of   exercise   together   with   irrevocable
instructions to a broker to deliver promptly to the  Company  the
amount  of  the  sale or all or a portion of the Stock  from  the
broker to the Director necessary to pay the purchase price of the
Stock; or

                    (D)  delivery  to the Company of certificates
representing  the  number of shares of Stock then  owned  by  the
Director, the Fair Market Value of which equals the price of  the
Stock  to  be purchased pursuant to the Option, properly endorsed
for  transfer  to  the Company.  No Option may  be  exercised  by
delivery  to the Company of certificates representing Stock  that
has  been held by the Director for less than six months  or  such
other period as shall be sufficient for the Company to avoid,  if
possible,  the recognition of expense with respect to the  Option
for  accounting purposes.  The exercise date shall be the day  of
delivery of the certificates for the Stock used as payment of the
Option Price.

           6A.4  Shareholder Privileges.  No Director shall  have
any  rights as a shareholder with respect to any shares of  Stock
covered  by  an Option until the Director becomes the  holder  of
record  of  such  Stock, and no adjustments  shall  be  made  for
dividends  or  other distributions or other rights  as  to  which
there  is a record date preceding the date such Director  becomes
the holder of record of such Stock, except as provided in Section
4.

                           Section 6B

                 Grants to Subsidiary Directors

           6B.1  Grant.  Coincident with or following designation
for  participation  in  the Plan, a Subsidiary  Director  may  be
granted  one or more Options and/or Restricted Stock Awards.   In
no  event  shall the exercise of one Option affect the  right  to
exercise any other Option or affect the number of shares of Stock
for which any other Option may be exercised.

          6B.2 Stock Option Certificates.  Each Option granted to
a  Subsidiary  Director under the Plan shall be  evidenced  by  a
written  stock  option certificate.  A stock  option  certificate
shall  be  issued  by the Company in the name of  the  Subsidiary
Director to whom the Option is granted and shall incorporate  and
conform to the conditions set forth in this Section 6B.2.

                 (a)    Number  of  Shares.   Each  stock  option
certificate  shall  state that it covers a  specified  number  of
shares of the Stock, as determined by the Committee.

                 (b)   Price.  The price at which each  share  of
Stock  covered by an Option may be purchased shall be  determined
in  each case by the Committee and set forth in the stock  option
certificate,  but in no event shall the price be  less  than  100
percent  of  the Fair Market Value of the Stock on the  date  the
Option is granted.

                 (c)    Duration  of  Options;  Restrictions   on
Exercise.   Each stock option certificate shall state the  period
of time, determined by the Committee, within which the Option may
be  exercised  by the Subsidiary Director (the "Option  Period"),
and shall also set forth any installment or other restrictions on
Option  exercise during such period, if any, as may be determined
by  the  Committee; however, no Option may be  exercised  for  at
least six months after the date of grant.

                 (d)   Termination of Service, Death, Disability,
Etc.  The Option shall terminate at the times provided in Section
6A.3(e).

                (e) Transferability, Exercisability.  Each Option
shall not be transferable by the Option Holder except by will  or
pursuant  to the laws of descent and distribution, and  shall  be
exercisable during the Option Holder's lifetime only  by  him  or
her,  or in the event of disability or incapacity, by his or  her
guardian or legal representative.

                (f) Exercise, Payments, Etc.  The Option shall be
subject  to  the same exercise and payment terms as  provided  in
Section 6A.3(g).

                (g) Date of Grant.  An option shall be considered
as  having  been  granted  on the date  specified  in  the  grant
resolution of the Committee.

          6B.3 Restricted Stock.

                (a)   Date  of  Grant,  Number  of  Shares.   The
Committee  shall  determine the number of  shares  of  Restricted
Stock  to be granted to a Subsidiary Director and shall determine
the Date of Grant.

                (b)   Restrictions.   The restrictions  shall  be
determined  by  the Committee and need not be identical  for  all
awards.   The  restrictions shall lapse  at  the  time  or  times
established  by the Committee.  Except as otherwise  provided  in
the Plan, shares of Stock received pursuant to a Restricted Stock
Award   may   not   be  sold,  assigned,  pledged,  hypothecated,
transferred  or  otherwise  disposed of  until  the  restrictions
applicable  to such Stock have lapsed pursuant to this subsection
6B.3(b).

                (c)   Retention  of  Award  Termination.    If  a
Subsidiary  Director's services as a board member are  terminated
at any time, for any reason, before the Restricted Stock Award is
fully vested, all of the unvested shares shall be forfeited.

                (d)   Enforcement of Restrictions.  The Committee
shall  cause  a  legend  to be placed on the  Stock  certificates
issued  pursuant to each Restricted Stock Award referring to  the
restrictions  imposed in the Plan and, in addition,  may  in  its
sole  discretion require one or more of the following methods  of
enforcing such restrictions:

                     (i)   Requiring the Subsidiary  Director  to
keep the Stock certificates, duly endorsed, in the custody of the
Company while the restrictions remain in effect; or

                     (ii)  Requiring that the Stock certificates,
duly endorsed, be held in the custody of a third party while  the
restrictions remain in effect.

           6B.4  Shareholder Privileges.  No Subsidiary  Director
shall have any rights as a shareholder with respect to any shares
of  Stock  covered  by  an Option until the  Subsidiary  Director
becomes  the  holder of record of such Stock, and no  adjustments
shall  be  made  for  dividends or other distributions  or  other
rights as to which there is a record date preceding the date such
Subsidiary  Director becomes the holder of record of such  Stock,
except  as  provided in Section 4.  A Subsidiary  Director  shall
have  all  voting,  dividend, liquidation and other  rights  with
respect to Stock in accordance with its terms received by him  as
a  Restricted  Stock Award under this Section 6B.   A  Subsidiary
Director's  right to sell, encumber or otherwise  transfer  Stock
after restrictions applicable to such Stock have lapsed shall  be
subject to the limitations of Section 8.2.

                            Section 7

               Reorganization or Change of Control

           7.1   Reorganization.   If the Company  is  merged  or
consolidated  with another corporation (other than  a  merger  or
consolidation in which the Company is the continuing  corporation
and  which  does not result in any reclassification or change  of
outstanding stock), or if all or substantially all of the  assets
or  more than 50 percent of the outstanding voting stock  of  the
Company is acquired by any other corporation, business entity  or
person  (other  than a sale or conveyance in  which  the  Company
continues  as  a  holding company of an entity or  entities  that
conduct  the  business or businesses formerly  conducted  by  the
Company),  or  in  case  of  a  reorganization  (other   than   a
reorganization under the United States Bankruptcy Code) including
a  divisive  reorganization under Section 355  of  the  Code,  or
liquidation  of  the  Company, the Committee,  or  the  board  of
directors  of  any  corporation assuming the obligations  of  the
Company,  shall, as to the Plan and outstanding Restricted  Stock
Awards and Options, either (i) make appropriate provision for the
adoption  and  continuation  of the  Plan  by  the  acquiring  or
successor  corporation  and  for  the  protection  of  any   such
outstanding   Restricted  Stock  Awards  and   Options   by   the
substitution  on an equitable basis of appropriate stock  of  the
Company  or  of the merged, consolidated or otherwise reorganized
corporation  which will be issuable with respect  to  the  Stock,
provided that no additional benefits shall be conferred upon  the
Directors and Subsidiary Directors holding such Restricted  Stock
Awards  and  Options  as a result of such  substitution  and  the
excess  of the aggregate Fair Market Value of the shares  subject
to  such  Options immediately before such substitution  over  the
Option  Price thereof, or (ii) accelerate the restriction  period
for   any  outstanding  Restricted  Stock  Awards  so  that   all
restrictions  applicable to Restricted Stock Awards  shall  lapse
prior to any such event and, upon written notice to the Directors
and  Subsidiary  Directors, provide that all unexercised  Options
must  be exercised within a specified number of days of the  date
of  such notice or they will be terminated.  In the latter event,
the  Committee shall accelerate the exercise dates of outstanding
Options.

          7.2  Change of Control

                (a)  In General.  Upon a change in control of the
Company  as  defined in subsection 7.2(c), then (i)  all  Options
shall become immediately exercisable in full during the remaining
term thereof, and shall remain so, whether or not the individuals
to  whom  such  Option  have  been granted  remain  Directors  or
Subsidiary  Directors; and (ii) all restrictions with respect  to
outstanding Restricted Stock Awards shall immediately lapse.

                (b) Limitation on Payments.  If the provisions of
this  Section 7.2 would result in the receipt by any Director  or
Subsidiary  Director of a payment within the meaning  of  Section
280G  of the Code and the regulations promulgated thereunder  and
if  the  receipt  of such payment by any Director  or  Subsidiary
Director  would,  in the opinion of independent  tax  counsel  of
recognized  standing  selected by  the  Company,  result  in  the
payment of such Director or Subsidiary Director of any excise tax
provided  for  in Sections 280G and 4999 of the  Code,  then  the
amount  of  such payment shall be reduced to the extent required,
in  the  opinion  of  independent tax  counsel,  to  prevent  the
imposition  of  such  excise  tax; provided,  however,  that  the
Committee,  in its sole discretion, may authorize the payment  of
all  or  any  portion  of  the amount of such  reduction  to  the
Director or Subsidiary Director.

                (c)   Definition.  For purposes of  the  Plan,  a
"change in control" shall mean any of the following:

                     (i)  The acquisition of or the ownership  of
50  percent or more of the total Stock of the Company then issued
and  outstanding, by any person, or group of affiliated  persons,
or  entities not affiliated with the Company as of the  Effective
Date of this Plan, without the consent of the Board of Directors,
or

                     (ii)       The   election   of   individuals
constituting  a majority of the Board of Directors who  were  not
either  (A)  members  of  the Board of  Directors  prior  to  the
election or (B) recommended to the shareholders by management  of
the Company, or

                     (iii)   A legally binding and final vote  of
the  shareholders  of  the Company in favor  of  selling  all  or
substantially all of the assets of the Company.

                            Section 8

                       Rights of Directors

           8.1  Retention as Director.  Nothing contained in  the
Plan or in any Restricted Stock Award or Option granted under the
Plan  shall interfere with or limit in any way the right  of  the
shareholders of the Company to remove any Director from the Board
or  a  Subsidiary  Director from the  board  of  directors  of  a
Subsidiary,  pursuant to the bylaws of the Company or Subsidiary,
nor confer upon any Director or Subsidiary Director any right  to
continue in the service of the Company or Subsidiary.

           8.2  Nontransferability.  No right or interest of  any
Director  or  Subsidiary  Director in a  Restricted  Stock  Award
(prior  to  the  completion of the restriction period  applicable
thereto)  or  Option,  granted pursuant to  the  Plan,  shall  be
assignable or transferable during the lifetime of the Director or
Subsidiary  Director,  either voluntarily  or  involuntarily,  or
subjected  to  any lien, directly or indirectly, by operation  of
law,   or  otherwise,  including  execution,  levy,  garnishment,
attachment,  pledge or bankruptcy.  In the event of a  Director's
or  a  Subsidiary Director's death, the Director's or  Subsidiary
Director's  rights and interests in Restricted Stock  Awards  and
Options  shall,  to  the  extent  provided  in  Section   6,   be
transferable  by  testamentary will or the laws  of  descent  and
distribution.   If  in  the opinion of  the  Committee  a  person
entitled  to payments or to exercise rights with respect  to  the
Plan  is  disabled from caring for his affairs because of  mental
condition, physical condition or age, payment due such person may
be  made to, and such rights shall be exercised by, such person's
guardian, conservator or other legal personal representative upon
furnishing  the  Committee  with  evidence  satisfactory  to  the
Committee of such status.

                            Section 9

                      General Restrictions

           9.1   Investment  Representations.   The  Company  may
require any person to whom a Restricted Stock Award or Option  is
granted, as a condition of receiving such Restricted Stock  Award
or  of  exercising  such  Option, to give written  assurances  in
substance and form satisfactory to the Company and its counsel to
the effect that such person is acquiring the Stock subject to the
Restricted  Stock  Award  or  Option  for  his  own  account  for
investment  and  not  with any present intention  of  selling  or
otherwise distributing the same, and to such other effects as the
Company  deems necessary or appropriate in order to  comply  with
Federal and applicable state securities laws.

           9.2  Compliance with Securities Laws.  Each Restricted
Stock  Award and Option shall be subject to the requirement that,
if  at  any time counsel to the Company shall determine that  the
listing,  registration or qualification of the shares subject  to
such  Restricted  Stock  Award  or  Option  upon  any  securities
exchange  or  under any state or federal law, or the  consent  or
approval of any governmental or regulatory body, is necessary  as
a  condition  of, or in connection with, the issuance  of  shares
thereunder,  such  Restricted Stock Award or Option  may  not  be
accepted  or  exercised in whole or in part unless such  listing,
registration, qualification, consent or approval shall have  been
effected  or obtained on conditions acceptable to the  Committee.
Nothing  herein shall be deemed to require the Company  to  apply
for or to obtain such listing, registration or qualification.

           9.3  Changes in Accounting Rules.  Notwithstanding any
other provision of the Plan to the contrary, if, during the  term
of the Plan, any changes in the financial or tax accounting rules
applicable  to  Restricted Stock Awards or  Options  shall  occur
which, in the sole judgment of the Committee, may have a material
adverse effect on the reported earnings, assets or liabilities of
the  Company,  the Committee shall have the right  and  power  to
modify  as necessary any then outstanding Restricted Stock Awards
and Options as to which the applicable restrictions have not been
satisfied.

           9.4   Withholding of Tax.  To the extent  required  by
applicable  law  and  regulation, each  Director  and  Subsidiary
Director  must  arrange with the Company for the payment  of  any
federal,  state  or local income or other tax applicable  to  the
Restricted  Stock Award granted hereunder or the exercise  of  an
Option granted hereunder before the Company shall be required  to
deliver to the Director or Subsidiary Director a certificate  for
such Stock free and clear of all restrictions under this Plan.

                           Section 10

          Plan Amendment, Modification and Termination

           The Board may at any time terminate, and from time  to
time  may  amend  or modify the Plan provided, however,  that  no
amendment  or modification may become effective without  approval
of   the  amendment  or  modification  by  the  shareholders   if
shareholder  approval is required to enable the Plan  to  satisfy
any  applicable statutory or regulatory requirements, or  if  the
Company,  on  the advice of counsel, determines that  shareholder
approval is otherwise necessary or desirable.

           No  amendment, modification or termination of the Plan
shall  in any manner adversely affect any Restricted Stock Awards
or Options theretofore granted under the Plan without the consent
of the Director holding such Restricted Stock Awards or Options.

                           Section 11

                       Requirements of Law

           11.1  Requirements of Law.  The issuance of stock  and
the  payment of cash pursuant to the Plan shall be subject to all
applicable laws, rules and regulations.

           11.2  Federal Securities Law Requirements.  Restricted
Stock  Awards and Options granted hereunder shall be  subject  to
all   conditions  required  under  Rule  16b-3  to  qualify   the
Restricted  Stock  Award  or Option for any  exception  from  the
provisions of Section 16(b) of the 1934 Act available under  that
Rule.   Such  conditions shall be set forth in the  agreement  or
stock option certificate with the Director or Subsidiary Director
that describes the Restricted Stock Award or Option.

           11.3  Governing  Law.   The Plan  and  all  agreements
hereunder  shall be construed in accordance with and governed  by
the laws of the State of Colorado.

                           Section 12

                      Duration of the Plan

           The  Plan  shall  terminate at such  time  as  may  be
determined  by  the Board of Directors, and no  Restricted  Stock
Award   or  Option  shall  be  granted  after  such  termination.
Restricted  Stock  Awards outstanding at the  time  of  the  Plan
termination shall become free of restrictions in accordance  with
their  terms.   Options  outstanding at  the  time  of  the  Plan
termination  shall continue for the duration of the  Option  Term
applicable to the Option.

Dated:___________________

ATTEST:                       GRAPHIC PACKAGING
                              INTERNATIONAL CORPORATION

_________________________     By:___________________________Exhibit 10.12

                       GRAPHIC PACKAGING
                      EXCESS BENEFIT PLAN

      (formerly ACX Technologies, Inc. Excess Benefit Plan)

                  (Effective December 28, 1992)
             (As Restated Effective January 1, 2000)

                       GRAPHIC PACKAGING
                      EXCESS BENEFIT PLAN

     ACX  Technologies, Inc., established the Plan, effective  as
of December 28, 1992, to provide supplemental retirement benefits
to  employees  whose  benefits under  the  Retirement  Plan  were
limited by Code Section 415.  Effective January  1,   1998,   ACX
Technologies,  Inc.  restated  the  Plan.   The  Plan  is  hereby
restated  effective January 1, 2000 in order to merge the  excess
Code Section 415 benefit of the Universal  Packaging  Corporation
Supplemental  Executive Retirement Plan  into  the  Plan  and  to
reflect  the change in name of ACX Technologies, Inc. to  Graphic
Packaging International Corporation.  Effective January 1,  2000,
no  benefits  shall  be  paid under the terms  of  the  Universal
Packaging Corporation Supplemental Executive Retirement Plan.

     The Corporation intends that the Plan shall be an "unfunded"
plan for purposes of the Code and  ERISA, and that it shall be an
excess benefit plan within the meaning of ERISA.

                           ARTICLE I
                          DEFINITIONS

     1.1  Board  of  Directors shall mean the  duly  elected  and
serving  Board  of  Directors  of the  Corporation  or  any  duly
authorized committee of that Board.

     1.2  Code  shall mean the Internal Revenue Code of 1986,  as
amended.

     1.3 Committee shall mean the persons appointed to administer
the Plan in accordance with Article VII.  The Committee shall  be
the Plan Administrator.

     1.4  Corporation shall mean Graphic Packaging  International
Corporation (formerly ACX Technologies, Inc.).

     1.5  Effective  Date  shall mean  December  28,  1992.   The
Effective Date of this document shall be January 1, 2000.

     1.6  Employer  shall  mean  Graphic Packaging  International
Corporation (formerly ACX Technologies, Inc.) and any  subsidiary
or  affiliated  company which may be designated an "Employer"  by
the  Board of Directors of the Corporation for purposes  of  this
Plan.

     1.7 ERISA shall mean the Employee Retirement Income Security
Act of 1974, as amended.

     1.8  Participant  shall  mean an eligible  employee  of  the
Employer who meets the requirements to participate in the Plan in
accordance with the provisions of Article II.

     1.9  Plan  shall  mean the Graphic Packaging Excess  Benefit
Plan (formerly the ACX Technologies, Inc. Excess Benefit Plan).

     1.10  Plan Year shall mean the 12 month period beginning  on
January  1 and ending on December 31, except that the first  Plan
Year  shall be the period commencing December 28, 1992 and ending
December 31, 1993.

     1.11  Retirement  Plan  shall  mean  the  Graphic  Packaging
Retirement  Plan (formerly the ACX Technologies, Inc.  Retirement
Plan).

     1.12  UPC  Pension  Plan shall mean the Universal  Packaging
Corporation Pension Plan.

     1.13 UPC SERP shall mean the Universal Packaging Corporation
Supplemental Executive Retirement Plan.

                           ARTICLE II
                 ELIGIBILITY AND PARTICIPATION

     2.1  Employees Eligible to Participate.  Any employee of the
Employer  whose  accrued  normal  retirement  benefit  under  the
Retirement  Plan  is limited by the benefit limitations  of  Code
Section 415 shall participate in this Plan.  Prior to  January 1,
2000, Universal  Packaging Corporation maintained the UPC Pension
Plan  and  the  UPC  SERP.  Effective   January  1,  2000,    the
Corporation merged the UPC Pension Plan into the Retirement Plan,
and  merged the portion of the UPC SERP related to amounts in ex-
cess of  the  Code  Section 415 limitations into this Plan.  Fol-
lowing the  merger  of  the  portion  of the UPC SERP  related to
amounts in excess of  the Code Section 415 limitations  into this
Plan,  any  participant  whose  benefit  in  the UPC Pension Plan
was merged into the  Retirement Plan  and  whose  accrued  normal
retirement  benefit  under  the Retirement  Plan  (following  the
merger of the UPC  Pension  Plan  into  the  Retirement  Plan) is
limited  by  the  benefit limitations  of  Code Section 415 shall
participate in this Plan for purposes of receiving   the   excess
Code Section 415 benefit payable to the participant.

                          ARTICLE III
                       SOURCE OF PAYMENTS

     3.1  Amounts Provided by the Employer.  Benefits  under  the
Plan  shall  constitute general obligations of  the  Employer  in
accordance  with the terms of the Plan.  No amounts  attributable
to  benefits under the Plan shall be set aside or held in  trust,
and  no recipient of any benefit shall have any right to have the
benefit  paid out of any particular assets of the Employer.   All
amounts  payable to any person under the Plan shall be paid  from
the  general  assets  of the Employer of the Participant  as  the
amounts become due and payable.

                           ARTICLE IV
                       AMOUNT OF BENEFITS

     4.1 Excess Benefit Plan Benefits.  If the pension payable to
the  Participant  from the Retirement Plan  is  limited  by  Code
Section 415,  the  Participant shall receive a benefit  from  the
Plan equal to the Participant's accrued normal retirement benefit
calculated under the terms of the Retirement Plan without  regard
to  any limitations under Code Section 415, reduced by the Parti-
cipant's  accrued  normal  retirement benefit  payable  under the
Retirement Plan.

                           ARTICLE V
                      PAYMENT OF BENEFITS

     5.1 Payment of Excess Benefit Plan Benefits.  Payment of any
Participant's Plan benefit calculated under Section 4.1 shall  be
made at the same time and in the same manner as the Participant's
benefit  under the Retirement Plan.  Any actuarial adjustment  to
the  Participant's benefit under the Plan shall be  on  the  same
basis  as  actuarial adjustments on the Participant's  Retirement
Plan benefit.

                           ARTICLE VI
                         DEATH BENEFITS

     6.1  Death Benefits.  If any death benefit payable under the
Retirement  Plan  prior  to  commencement  of  the  Participant's
benefits under the Retirement Plan is limited due to Code Section
415 limitations, the amount  by which  the death  benefit payable
under the Retirement   Plan is so limited shall be payable  under
the  Plan at  the same time  and in the same  manner as the death
benefit payable under the Retirement Plan.

                          ARTICLE VII
                         ADMINISTRATION

     7.1   Appointment   of  Committee.   The   Plan   shall   be
administered  by a Committee, which, unless otherwise  determined
by  the Board of Directors, shall be the Board of Directors.  The
membership of the Committee may be reduced, changed, or increased
from  time  to  time at the absolute discretion of the  Board  of
Directors.

     7.2   Committee  Powers  and  Duties.  The  Committee  shall
administer the Plan and shall have all powers necessary for  that
purpose,  including,  but  not by way  of  limitation,  the  full
discretion,  authority,  and power  to  interpret  the  Plan,  to
determine  the  eligibility, status, and rights  of  all  persons
under  the  Plan  and  in  general to decide  any  dispute.   The
Committee or its delegee shall maintain all records of the  Plan.
The Committee's specific powers shall include, but not by way  of
limitation, the following:

     (a)  To determine the amounts and the rights of Participants
          and beneficiaries to Plan benefits; to take any actions
          necessary to assure timely payment of benefits  to  any
          Participant or beneficiary eligible to receive benefits
          under  the  Plan; and to assure a full and fair  review
          for  any  Participant  who is denied  a  claim  to  any
          benefit under the Plan;

     (b)  To employ other persons to render advice and assistance
          with  respect  to  the Plan, including  calculation  of
          benefits  and  administration  of  the  Plan,  and  the
          employment of legal counsel;

     (c)  To file with the Secretary of Labor, herein referred to
          as the "Secretary," all pertinent documents;

     (d)  To  maintain all records necessary for verification  of
          information required to be filed with the Secretary;

     (e)  To  comply  with all duties required by ERISA,  or  any
          other  applicable  law,  in the administration  of  the
          Plan;

     (f)  In  the event of the termination of the Plan, to report
          to  all  necessary  parties all  available  information
          regarding  benefits and amounts to  be  distributed  to
          each Participant and beneficiary; and

     (g)  To  operate and administer the Plan with respect to all
          matters.

     7.3 Organization of Committee. The Committee shall adopt any
rules  it deems desirable for the conduct of its affairs and  for
the  administration of the Plan.  It may appoint agents (who need
not  be  members of the Committee) to whom it may  delegate  such
powers as it deems appropriate, except that any dispute shall  be
determined  by  the  Committee.   The  Committee  may  make   its
determinations with or without meetings.  It may authorize one or
more  of its members or agents to sign instructions, notices  and
determinations  on its behalf.  The action of a majority  of  the
Committee shall constitute the action of the Committee.

     7.4  Indemnification. The Committee and  all  of  the  other
agents  and representatives of the Committee shall be indemnified
and saved harmless by the Corporation against any claims, and the
expenses  of  defending against such claims, resulting  from  any
action  or  conduct relating to the administration of  the  Plan,
except  claims judicially determined to be attributable to  gross
negligence or willful misconduct.

     7.5  Agent for Process. The Committee shall be agent of  the
Plan for service of all process.

     7.6 Determination of Committee Final. The decisions made  by
the Committee shall be final and conclusive on all persons.

                          ARTICLE VIII
                    MISCELLANEOUS PROVISIONS

     8.1   Governing  Law.   The  Plan  shall  be  construed   in
accordance with and governed by the laws of the State of Colorado
to the extent not pre-empted by ERISA.

     8.2 Termination of Plan. The Corporation expects to continue
this Plan indefinitely, but the Board of Directors (or other body
authorized by the Board) may, by resolution, terminate this  Plan
at any time, except that the Corporation shall not terminate this
Plan  solely for the purpose of accelerating the distribution  of
benefits to its employees.  Any termination of the Plan shall  be
effective  on  the  date  specified in  the  Board  of  Directors
resolution  and shall include the provisions and have the  effect
that  the  Board  of  Directors, in its  sole  discretion,  deems
desirable.

     8.3  Amendment  by Corporation.  The Corporation  may  amend
this  Plan  at  any  time and from time to  time,  by  resolution
adopted  by the Board of Directors and a written document  signed
by  an  officer  of the Corporation authorized by  the  Board  of
Directors.   Any  amendment  shall  be  effective  on  the   date
specified in the Board of Directors' resolution and shall include
the  provisions and have the effect that the Board of  Directors,
in its sole discretion, deems desirable.

     8.4  Funding  of Benefits - No Fiduciary Relationship.   All
benefits  payable  under this Plan shall be distributed  as  they
become  due  and  payable out of the Employer's  general  assets.
Nothing  contained  in this Plan shall be deemed  to  create  any
fiduciary   relationship   between   the   Employers   and    the
Participants.  The  Plan  constitutes  a  mere  promise  by   the
Employers to make benefit payments in the future.  To the  extent
that  any person acquires a right to receive benefits under  this
Plan,  such  right  shall be no greater than  the  right  of  any
unsecured general creditor of the Employers.

     8.5  No Guarantee of Employment.  Nothing contained in  this
Plan  shall be construed as a contract of employment between  the
Employer  and any employee, or as a right of any employee  to  be
continued  in the employment of the Employer, or as a  limitation
of  the  right of the Employer to discharge any of its employees,
with or without cause.

     8.6  Nonalienation of Benefits.  To the extent permitted  by
law,   benefits  payable  under  this  Plan  shall  not,  without
Committee  consent,  be  subject in any manner  to  anticipation,
alienation,  sale,  transfer,  assignment,  pledge,  encumbrance,
charge,  garnishment,  execution, or levy  of  any  kind,  either
voluntary   or   involuntary.   Any   unauthorized   attempt   to
anticipate,  alienate, sell, transfer, assign, pledge,  encumber,
charge  or  otherwise  dispose of any right to  benefits  payable
hereunder  shall be void.  No part of the assets of the  Employer
shall  be subject to seizure by legal process resulting from  any
attempt by creditors of or claimants against any Participant  (or
beneficiary),  or  any  person  claiming  under  or  through  the
foregoing, to attach his interest under the Plan.

     8.7  Liability.  No member of the Board of Directors, or  of
the  Committee shall be liable for any act or action, whether  of
commission  or  omission, taken by any other member,  or  by  any
officer, agent, or employee of the Employer or of any such  body,
nor,  except  in  circumstances  involving  his  bad  faith,  for
anything done or omitted to be done by himself.

     8.8  Claims  Procedure.   All applications  and  claims  for
benefits  shall  be filed in writing with the  Committee  by  the
Participant,  the  Participant's beneficiary, or  the  authorized
representative  of  the  claimant, by completing  the  procedures
required  by  the Committee.  The procedures shall be  reasonable
and  may  include the completion of forms and the  submission  of
documents and additional information.

     The  Committee shall review all applications and claims  for
benefits and shall decide whether to approve or deny the claim in
whole or in part.  If a claim is denied in whole or in part,  the
Committee  shall furnish written notice of denial to the claimant
within  90 days after the Plan Administrator receives the  claim,
unless  special circumstances require an extension  of  time  for
processing  the  claim.  If an extension is  required,  the  Plan
Administrator shall notify the claimant in writing before the end
of  the initial 90 day period.  The extension shall not exceed an
additional 90 days.  The notice of denial shall be written  in  a
manner  calculated  to be understood by the  claimant  and  shall
include the following:

     (a)  specific reasons for the denial;

     (b)  specific references to pertinent Plan provisions;

     (c)  a description of any additional material or information
          necessary for the claimant to perfect his claim and  an
          explanation of why such information is necessary; and

     (d)  appropriate  information as to the steps  the  claimant
          should take if he wishes to submit the denied claim for
          review.

     If  the  claimant wishes a review of the denied  claim,  the
claimant  shall notify the Committee in writing within  60  days.
The claimant may review pertinent documents and may submit issues
or  comments to the Committee in writing.  If the claimant wishes
a  hearing, the claimant must include a request for a hearing  in
the  notice  to  the  Committee.  The claimant  may  furnish  the
Committee with a written statement of the claimant's position.

     All  reviews  of  denied claims shall be  conducted  by  the
Appeals  Committee,  which shall consist  of  five  members  (not
including  the  chairman).  All members, including the  chairman,
shall   be   appointed  by  the  Corporation's  General  Counsel.
Individuals selected to serve on the Appeals Committee shall have
knowledge  of  the Plan, of financial matters, and other  matters
necessary  to construe and interpret the Plan.  The Chairman  and
members  of  the  Appeals Committee shall serve  two  year  terms
except  that  three  members appointed  to  the  initial  Appeals
Committee  shall  serve a one-year term.   The  Chairman  of  the
Appeals  Committee  shall neither vote  nor  participate  in  the
determination of an appeal.  However, the chairman shall  respond
to questions raised by the other members of the Appeals Committee
and shall provide such information about the Plan as requested by
the  other  members of the Appeals Committee.  If at least  three
voting  members are present at a meeting they shall constitute  a
quorum.  If four voting members are present and their vote  is  a
tie, the matter shall be reconsidered at the next meeting of  the
Appeals Committee.  The Appeals Committee shall adopt such  rules
and  procedures  as it determines to be necessary or  appropriate
for  the  conduct  of  its affairs.  The  Appeals  Committee  may
appoint agents (who need not be members of the Appeals Committee)
to  whom  it  may  delegate such powers as it deems  appropriate,
provided that all claims presented to the Appeals Committee shall
be  decided  by the Appeals Committee.  It may authorize  one  or
more  of its members or agents to sign instructions, notices  and
determinations  on its behalf.  The action of a majority  of  the
voting  members  of  the Appeals Committee shall  constitute  the
action of the Appeals Committee.  The Corporation shall indemnify
any  member  of  the Appeals Committee and any  employee  of  the
Corporation  who  acts on behalf of and at  the  request  of  the
Committee   or  the  Appeals  Committee  against  any   and   all
liabilities  and reasonable expenses incurred in connection  with
any claim, action, suit or proceeding which is or may be asserted
against the member or employee for acts within the scope  of  the
member's  or  employee's duties in such capacity  to  the  extent
provided in the Corporation's Bylaws.

     The  Committee shall forward all requests for  review  of  a
denied  claim,  together  with all associated  documents  to  the
chairman  of  the Appeals Committee promptly after receipt.   The
Appeals Committee shall make a decision on review within 60  days
after  the Committee receives the claimant's written request  for
review  unless  special  circumstances, such  as  the  claimant's
request for a hearing, require additional time for review of  the
claim.   If the Appeals Committee needs an extension of  time  to
review  the claim, it shall notify the claimant in writing before
the end of the initial 60 day period.  The extension shall not be
longer  than an additional 60 days.  The Appeals Committee  shall
give  the claimant written notice of its decision, written  in  a
manner  calculated  to be understood by the  claimant  and  shall
include  specific  reasons for the decision as well  as  specific
references to the pertinent plan provisions on which the decision
is  based.   If  the Appeals Committee does not make  a  decision
within  the  time  periods specified above, the  claim  shall  be
deemed denied.

     The  Plan Administrator and the Appeals Committee shall have
full  discretionary authority to consider claims filed under  the
Plan  and  to  determine eligibility, status and  rights  of  all
individuals under the Plan and to construe any and all  terms  of
the Plan.

     If,  after the completion of the claims procedure set  forth
in  the  preceding  paragraphs, the claimant  wishes  to  further
pursue the claim, the claim shall be submitted to, and determined
through,  binding arbitration in the metropolitan area  in  which
the  claimant's  work  place is located in  accordance  with  the
employment  arbitration  procedures of the  American  Arbitration
Association  ("AAA")  existing at the  time  the  arbitration  is
conducted,  before a single arbitrator chosen in accordance  with
AAA  procedures.   The  decision  of  the  arbitrator  shall   be
enforceable as a court judgment.

     8.9    Disposition   of   Unclaimed   Distributions.    Each
Participant must file with the Corporation from time to  time  in
writing  the  Participant's address and each change  of  address.
Any communication, statement or notice addressed to a Participant
at  the Participant's last address filed with the Corporation, or
if  no  address is filed with the Corporation, then at  the  last
address as shown on the Corporation's records, will be binding on
the Participant and his spouse for all purposes of the Plan.  The
Corporation  shall  not be required to search  for  or  locate  a
Participant or the Participant's beneficiary.

    8.10 Distributions Due Minors or Incompetents.  If any person
entitled to a distribution under the Plan is a minor, or  if  the
Committee  determines  that any such  person  is  incompetent  by
reason  of physical or mental disability, whether or not  legally
adjudicated an incompetent, the Committee shall have the power to
cause the distributions becoming due to such person to be made to
another for the person's benefit, without responsibility  of  the
Committee  to  see  to  the application  of  such  distributions.
Distributions  made  pursuant to such power shall  operate  as  a
complete discharge of the Corporation and the Committee.

     IN  WITNESS WHEREOF, this Plan has been executed  this  ____
day of ___________, 2001.

                              GRAPHIC PACKAGING INTERNATIONAL
                              CORPORATION
                              Plan Sponsor

                              By: _______________________________

                              Title: ____________________________

                              Date: _____________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]