Document:

Exhibit 10.11

 Exhibit 10.11 
 Amended and Restated 
 Employment Agreement 

between 

PBF Investments LLC 
 and 
 Michael D. Gayda 

 AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT 
 This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) dated as of December 17, 2012 is by and between PBF Investments LLC, a Delaware limited liability company (the
“Company”), and Michael D. Gayda (“Executive”). 
 RECITALS 

WHEREAS, the Company is an indirect wholly-owned subsidiary of PBF Energy Company LLC; 

WHEREAS, the Company and Executive are parties to that certain Employment Agreement effective as of April 1, 2010 (as
amended, the “Prior Agreement”); 
 WHEREAS, the Company and Executive desire to amend the Prior
Agreement in certain respects; 
 WHEREAS, the Company desires to continue to employ the Executive and the Executive
desires to accept such continued employment upon the terms and conditions contained in this Agreement; and 
 WHEREAS,
the Company and Executive desire that effective on and after the date hereof, this Agreement shall replace and supersede the Prior Agreement and that the Prior Agreement shall be of no force and effect. 

AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below the parties hereto agree as follows: 

1. Term of Employment. Subject to the provisions of Section 8, Executive’s employment with the Company pursuant
to this Agreement shall commence on December 17, 2012 (the “Start Date”) and shall continue under this Agreement until December 17, 2013 (the “Stated Term”) on the terms and subject to the conditions set
forth in this Agreement; provided, that the Stated Term automatically shall be renewed by successive one-year periods (each, a “Renewal Period”) unless either party notifies the other party at least 30 days prior to the
expiration of the then applicable Stated Term that the Stated Term shall not be renewed beyond the expiration of such then applicable Stated Term (the “Non-Renewal Notice”). The Stated Term including any Renewal Period may also be
terminated prior to the expiration thereof in accordance with Section 8; provided that the provisions of Sections 9, 10 and 11 shall survive any termination of this Agreement or Executive’s termination of employment hereunder. The term
“Employment Term” means the period from the Start Date until the expiration or termination of the Stated Term (including any applicable Renewal Period) pursuant to this Section 1. 

 2. Position. 

(a) At the start of the Employment Term, Executive shall serve as the President of the Company and its direct and indirect parents
(including PBF Energy Inc.), subsidiaries and affiliates (collectively, the “PBF Companies”) as his primary occupation. Executive shall also serve in such positions for the PBF Companies as determined by the Board of Directors of
PBF Energy Inc. (the “Board”), provided however, the only compensation paid to Executive shall be through this Agreement. In such positions, Executive shall have such duties and authority that are customary for those positions of
companies of the size, type and nature of the Company. Executive acknowledges that during the Employment Term, he may spend a significant amount of his time traveling for purposes of Company business. Executive acknowledges that as an exempt member
of management he will neither be paid for any overtime or excess time for hours exceeding the regular working hours per week nor for additional time for weekend work. The base salary of Executive as set forth in this Agreement covers the
remuneration of any extra hours or weekend work. 
 (b) Executive shall devote an appropriate amount of time and energy to the
business and affairs of the PBF Companies and shall not be engaged in any other business activity, whether or not such business activity is pursued for gain, profit or other pecuniary advantage, unless the Company consents to Executive’s
involvement in such business activity in writing. In addition, this restriction shall not be construed as preventing Executive from investing his assets in a form or manner that will not require Executive’s services in the operation of any of
the companies in which such investments are made. Executive may also serve on boards of directors and other positions with non-profit and for-profit organizations as to which the Board may from time to time consent, which consent shall not be
unreasonably withheld, delayed or conditioned, so long as such service does not materially interfere with Executive’s obligations hereunder or violate Sections 9 and 10 hereof. 

3. Base Salary. During the Employment Term, the Company shall pay Executive a base salary at the annual rate of $675,000,
payable in regular installments in accordance with the Company’s usual payment practices. Executive shall be entitled to such increases in Executive’s base salary, if any, as may be determined from time to time in the sole discretion of
the Board. Executive’s annual rate of base salary, as in effect from time to time, is hereinafter referred to as the “Base Salary.” 
 4. Annual Bonus. With respect to each calendar year of the Company ending during the Employment Term, Executive shall be eligible to earn an annual bonus award (an “Annual
Bonus”) in accordance with the cash incentive compensation plan of the PBF Companies on the same basis as those awards are generally made available to other senior executives of the Company. The cash incentive compensation plan and any
amounts thereunder to be paid to Executive shall be determined in the discretion of the Board. Any Annual Bonus earned in respect of a calendar year shall be paid in a cash lump sum no later than March 15 of the following calendar year.

 5. Incentive Programs. Executive has the option of investing in the PBF Companies and the terms of any such
investment are set forth in separate agreements between Executive and applicable PBF Companies. Executive shall also be entitled to grants of equity-

  
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based compensation (“Equity Awards”) under any incentive compensation program that may be adopted by the Board on the same basis as those benefits are generally made available to
other senior executives of the Company. Any such grants shall be made at the discretion of the Board and the terms of such grants shall be set forth in the Long Term Incentive plan documents. 

6. Employee Benefits. During the Employment Term, Executive shall be entitled to participate in any employee benefit plans
(which term does not include bonus or incentive compensation plans) in which employees of the Company are eligible to participate (other than any severance pay plan generally offered to all employees of the Company) as in effect from time to time
(collectively “Employee Benefits”), on the same basis as those benefits are generally made available to other senior executives of the Company. 
 7. Business Expenses. 
 During the Employment Term, reasonable
business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be reimbursed by the Company in accordance with Company policy following presentation by Executive of proof of such expenses. All business travel
accommodations shall be first class. The Company shall reimburse reasonable business expenses incurred by Executive in the performance of Executive’s duties promptly, but in any case no later than the end of the year following the year in which
such expenses are incurred. 
 8. Termination. The Employment Term and Executive’s employment hereunder may
be terminated by the Company or by Executive at any time and for any reason. Upon any termination of Executive’s employment during the Employment Term or any annual non-renewal, the Employment Term shall automatically terminate. Upon
termination of Executive’s employment for any reason, Executive agrees to resign as of the date of such termination and, to the extent applicable, from any boards (and committees thereof) of the PBF Companies or any of their affiliates. If the
Executive is terminated by the Company for Cause, such termination shall be effective immediately. Executive shall give 30 days’ written notice to the Company in accordance with Section 12(g) hereof in the event Executive intends to
terminate his employment without Good Reason. Notwithstanding any other provision of this Agreement (other than Section 12(h)), the provisions of this Section 8 shall exclusively govern Executive’s rights upon termination of
employment with the Company and its affiliates. 
 (a) Termination For Cause; Without Good Reason; Non-Renewal by
Executive. Upon termination of Executive’s employment hereunder (x) by the Company for Cause or (y) by Executive without Good Reason, including due to Executive’s election not to renew the Employment Term, Executive shall
be entitled to receive: 
 (i) accrued, but unpaid Base Salary, earned through the date of termination;

 (ii) any Annual Bonus earned but unpaid as of the date of termination for any previously completed fiscal
year; and 

  
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 (iii) reimbursement for any unreimbursed business expenses properly incurred
by Executive in accordance with this Agreement prior to the date of Executive’s termination; and 
 (iv)
such Employee Benefits, if any, as to which Executive may be entitled pursuant to the terms governing such Employee Benefits; and 
 (v) the right to exercise any vested Equity Awards in accordance with the terms set forth in any Long Term Incentive plan documents; 

(collectively, the “Accrued Rights”) and, following such termination of Executive’s employment and payment by the Company
of the Accrued Rights, Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other
agreements as referenced above in Sections 5 and 6 and any Long Term Incentive compensation program. Amounts payable under (i), (ii) and (iii) above shall be paid no later than March 15 of the calendar year immediately following the
year of Executive’s termination of employment. 
 (b) Disability or Death. Executive’s employment
hereunder shall terminate upon Executive’s death and may be terminated by the Company if Executive becomes physically or mentally incapacitated and is therefore unable for a period of six consecutive months or for an aggregate of nine months in
any twenty-four consecutive month period to perform Executive’s duties (such incapacity is hereinafter referred to as “Disability”). Any question as to the existence of the Disability of Executive as to which Executive and the
Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a
physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability by such physician made in writing to the Company and Executive shall be final and conclusive for all purposes of
this Agreement. Upon termination of Executive’s employment hereunder for either death or Disability, Executive or Executive’s estate, as applicable, shall be entitled to receive: 

(i) the Accrued Rights; 
 (ii) a pro rata portion of Executive’s target Annual Bonus for the fiscal year in which Executive’s termination occurs, calculated as the total amount of such target Annual Bonus for the full
year multiplied by the number of months or partial months of Executive’s employment during the year of Executive’s termination divided by 12, payable pursuant to Section 4 as if Executive’s employment had not terminated;
provided, in the event of Executive’s termination on account of Disability, Executive has executed and delivered (and not revoked) the Release (as hereinafter defined) within the time period specified in Section 12(h); and 

(iii) a cash lump sum payment equal to the greater of (A) one-half of Executive’s Base Salary as in effect on
the date of Executive’s termination, or (B) one-half of the aggregate amount of Base Salary that Executive would have received had the 

  
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Employment Term continued until the end date specified in Section 1 hereof, payable on the 60th day following the date of Executive’s death or termination on account of Disability;
provided, in the event of Executive’s termination on account of Disability, Executive has executed and delivered (and not revoked) the Release within the time period specified in Section 12(h). 

(iv) Following such termination of Executive’s employment and, if required, payment of the amounts set forth in this
Section 8(b), neither Executive nor Executive’s estate, as applicable, shall have any further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future
benefits may be provided, under any other agreements as referenced above in Section 5 and any Long Term Incentive compensation program. 
 (c) Termination In Other Circumstances. If Executive’s employment is terminated at any time (x) during the Employment Term (other than 6 months’ prior to or within one year
subsequent to the consummation of a Change in Control) (I) without Cause (other than by reason of death or Disability) by the Company, or (II) for Good Reason by Executive or (y) due to the Company’s election not to renew the
Employment Term, Executive shall be entitled to receive: 
 (i) the Accrued Rights; 

(ii) a cash lump sum payment equal to 1.5 times Executive’s Base Salary as in effect on the date of termination,
payable on the 60th day following the date of Executive’s termination of employment; provided, however, that receipt of such amount will be subject to Executive executing and delivering (and not revoking) the Release on or prior to the 21st day
or the 45th day, as applicable, following the date on which his employment with the Company terminates and he is given an execution version of the Release; and 
 (iii) continuation for a period of 1 year and 6 months of Executive’s and his dependent’s health (medical, dental and vision) benefits if Executive was enrolled in such benefits at the time of
termination and otherwise remains eligible for such benefits and continues to pay the Executive’s portion of the monthly cost of such benefits, provided, that at the end of such 1 year and 6 month period of benefit continuation, as long as the
Company will not be subject to any taxes, fines or penalties under applicable law as a result thereof, Executive shall then be entitled to the full period of benefits then allowed under COBRA at Executive’s sole expense. 

Following such termination of Executive’s employment and, if required, payment of the amounts set forth in this Section 8(c),
Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above
in Section 5 and any Long Term Incentive compensation program. 

  
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 (d) Definitions. For purposes of this Section 8, the following terms
shall have the meanings set forth below: 
 (i) “Cause” shall mean (A) Executive’s
continued willful failure to substantially perform his duties (other than as a result of a disability) for a period of 30 days following written notice by the Company to Executive of such failure, (B) Executive’s conviction of, or plea of
nolo contendere to a crime constituting a misdemeanor involving moral turpitude or a felony, (C) Executive’s willful malfeasance or willful misconduct in connection with Executive’s duties hereunder, including fraud or
dishonesty against the Company, or any of its affiliates, or any act or omission which is materially injurious to the financial condition or business reputation of the Company, or any of its affiliates, other than an act or omission that was
committed or omitted by Executive in the good faith belief that it was in the best interest of the Company, (D) a breach of Section 12(i) hereof, or (E) Executive’s breach of the provisions of Section 9 or 10 of this
Agreement. 
 (ii) “Change in Control” shall mean (A) any “person” or
“group” (as such terms are defined in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than one or more of the Excluded Entities) is or becomes the
“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than fifty percent (50%) of the combined voting power of PBF Energy Inc.’s then outstanding voting securities
entitled to vote generally in the election of directors (including by way of merger, consolidation or otherwise); (B) the sale or disposition, in one or a series of related transactions, of all or substantially all of the assets of PBF Energy
Inc. and its subsidiaries, taken as a whole, to any “person” or “group” (other than one or more of the Excluded Entities); (C) a merger, consolidation or reorganization of PBF Energy Inc. (other than (x) with or into,
as applicable, any of the Excluded Entities or (y) in which the stockholders of PBF Energy Inc., immediately before such merger, consolidation or reorganization, own, directly or indirectly immediately following such merger, consolidation or
reorganization, at least fifty percent (50%) of the combined voting power of the outstanding voting securities of the corporation resulting from such merger, consolidation or reorganization); (D) the complete liquidation or dissolution of
PBF Energy Inc.; or (E) other than as expressly provided for in that certain Stockholders’ Agreement by and among PBF Energy Inc. and the Investor Parties named therein (as the same may be amended, modified or supplemented from time to
time), during any period of two (2) consecutive years, individuals who at the beginning of such period constituted the Board (together with any new directors whose election by such Board or whose nomination for election by the stockholders of
PBF Energy Inc. was approved by a vote of a majority of the directors of PBF Energy Inc. then still in office, who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) (the
“Incumbent Board”) cease for any reason to constitute a majority of the Board then in office; provided that, any director appointed or elected to the Board to avoid or settle a threatened or actual proxy contest shall in no
event be deemed to be an individual on the Incumbent Board. 
 (iii) “Excluded Entity” shall
mean any of the following: (A) The Blackstone Group L.P. and any of its Affiliates including Blackstone PB Capital Partners V L.P., Blackstone PB Capital Partners V Subsidiary L.L.C., Blackstone PB Capital Partners V-AC L.P., Blackstone Family
Investment Partnership V USS L.P., Blackstone 

  
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Family Investment Partnership V-A USS SMD L.P., Blackstone Participation Partnership V USS L.P. and their respective general partners, Blackstone Group Management L.L.C., Blackstone, Blackstone
Management Associates V USS L.L.C. and BCP V USS Side-by-Side GP L.L.C.; (B) First Reserve Management, L.P. and any of its Affiliates, including FR PBF Holdings LLC and FR PBF Holdings II LLC; (C) PBF Energy Inc. and any entities of which
a majority of the voting power of its voting equity securities and equity interests is owned directly or indirectly by PBF Energy Inc.; and (D) any employee benefit plan (or trust forming a part thereof) sponsored or maintained by any of the
foregoing. 
 (iv) “Good Reason” shall mean, without Executive’s consent, (A) the
failure of the Company to pay or cause to be paid Executive’s Base Salary or Annual Bonus, if any, when due hereunder, (B) any adverse, substantial and sustained diminution in Executive’s authority or responsibilities by the Company
from those described in Section 2 hereof, (C) the Company requiring a change in the location for performance of Executive’s employment responsibilities hereunder to a location more than 50 miles from the Company’s office location
in Parsippany, NJ (not including ordinary travel during the regular course of employment) or (D) any other action or inaction that constitutes a material breach by the Company of the Agreement; provided, that the events described in
clauses (A), (B), (C) and (D) of this Section 8(d)(iv) shall constitute Good Reason only if the Company fails to cure such event within 20 days after receipt from Executive of written notice of the event which constitutes Good Reason;
provided, further, that Good Reason shall cease to exist for an event described in clauses (A), (B), (C) and (D) of this Section 8(d)(iv) on the 90th day following the later of its occurrence or Executive’s knowledge thereof,
unless Executive has given the Company written notice thereof prior to such date. 
 (v) “target Annual
Bonus” shall mean that level of Annual Bonus achieved at one times the Base Salary. 
 (e) Change in
Control. In the event of a termination of Executive’s employment 6 months’ prior to, or within one year subsequent to the consummation of, a Change in Control (I) without Cause (other than by reason of death or Disability) by
the Company, (II) for Good Reason by Executive, or (III) due to the Company’s election not to renew the Employment Term, Executive shall be entitled to receive: 

(i) the Accrued Rights; 
 (ii) a cash lump sum payment equal to 2.99 times Executive’s Base Salary as in effect on the date of termination, payable on the 60th day following the date of Executive’s termination of
employment; provided, however, that receipt of such amount will be subject to Executive executing and delivering (and not revoking) the Release on or prior to the 21st day or the 45th day, as applicable, following the date on which his
employment with the Company terminates and he is given an execution version of the Release; 

  
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 (iii) immediate vesting and exercisability of any outstanding Equity Awards,
warrants and Series B Units; and 
 (iv) continuation for a period of 2 years and 11 months of Executive’s
and his dependent’s health (medical, dental and vision) benefits if Executive was enrolled in such benefits at the time of termination and otherwise remains eligible for such benefits and continues to pay the Executive’s portion of the
monthly cost of such benefits, provided, that at the end of such 2-year and 11-month period of benefit continuation, as long as the Company will not be subject to any taxes, fines or penalties under applicable law as a result thereof, Executive
shall then be entitled to the full period of benefits then allowed under COBRA at Executive’s sole expense. 

(v) Notwithstanding anything contained in this Agreement to the contrary, to the extent that any payments or benefits
provided for in Section 8(e) or otherwise is or would be, if not for this Section 8(e)(v), subject to excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then the payments or benefits provided to the
Executive shall be reduced (but not below zero) if and only to the extent necessary so a reduction in the total payments under this Section 8(e) would result in the Executive retaining a larger amount, on an after-tax basis (taking into account
federal, state and local income taxes as well as any Excise Tax) than if the Executive received the entire amount of such payment. If there is a reduction of the payments or benefits, such reduction shall occur as mutually agreed upon by the Company
and the Executive. Any determination required under this Section 8(e)(v) shall be made in writing by the independent public accountant of the Company (the “Accountants”), at the expense of the Company, and whose determination
shall be conclusive and binding for all purposes upon the Company and the Executive. For purposes of making any calculation required by this Section 8(e)(v), the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good-faith interpretations concerning the application of Sections 280G and 4999 of the Code. 
 Following such termination of Executive’s employment and, if required, payment of the amounts set forth in this Section 8(e), Executive shall have no further rights to any compensation or any
other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Section 5 and any Long Term Incentive compensation
program. 
 9. Restrictive Covenants. 
 (a) Non-Competition. Executive shall not, at any time beginning on the Start Date and ending on the date that is six months following Executive’s termination of employment for any
reason (such period, the “Non-Compete Period”), be a more than 5% shareholder, director, officer or employee of any person, firm, corporation, partnership or business that engages in a business which competes directly with the
Business (as defined below). 
 (b) Non-Solicitation. During the Non-Compete Period, Executive shall not directly
recruit or otherwise solicit or induce any senior executive employee of the Company to terminate his or her employment with the Company or any of the Company’s affiliates in order 

  
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to be hired by Executive in a business which competes directly with the Business; provided, however, that general solicitation or advertising for employment by Executive shall not be prohibited
by this Section 9(b). 
 (c) Non-Disparagement. During Executive’s employment and at any time following
his termination, Executive agrees not to disparage, either orally or in writing, in any material respect the Company or any of their affiliates. 
 (d) Reformation. In the event the terms of this Section 9 shall be determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too great a
period of time or over too great a geographical area or by reason of its being too extensive in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable, over the maximum geographical
area as to which it may be enforceable, or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action. 
 (e) Business. As used in Sections 9 and 10 hereof, the term “Business” shall mean the crude oil refining business in the specific geographic areas in which the
Company’s oil refining operations primarily conduct business at the date of Executive’s termination. 
 (f)
Change in Control. Notwithstanding any other provision herein, this Section 9 shall be null and void upon a Change in Control. 
 10. Non-Disclosure of Confidential Information. 
 (a)
Protection of Confidential Information. All items of information, documents (including electronically stored documents like email), and materials pertaining to the business and operations of the Company that are not made public by the
Company through authorized means will be considered confidential (hereafter, “Confidential Information”). Confidential Information includes, but is not limited to, customer lists, business referral source lists, internal cost and
pricing data and analysis, marketing plans and strategies, personnel files and evaluations, financial and accounting data, operational and other business affairs and methods, contracts, technical data, know-how, trade secrets, computer software and
other proprietary and intellectual property, and plans and strategies for future developments relating to any of the foregoing. Except in connection with the faithful performance of Executive’s duties hereunder or as permitted pursuant to
Section 10(c), Executive shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish, or use for his benefit or the benefit of any person, firm, corporation or other entity
any Confidential Information, or deliver to any person, firm, corporation or other entity any document, record, notebook, computer program or similar repository of or containing any such Confidential Information. The parties hereby stipulate and
agree that as between them the foregoing matters are important, material and confidential proprietary information and trade secrets and affect the successful conduct of the businesses of the Company or any of its successors. 

(b) Return of Confidential Information. Upon termination of Executive’s employment with the Company for any reason,
Executive upon the request of the Company will promptly either destroy or deliver to the Company any and all Confidential Information in Executive’s possession and any other documents concerning the customers, business plans, marketing
strategies, products or processes of the Company. 

  
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 (c) No Prohibition. Nothing in this Agreement shall prohibit Executive from
(i) disclosing information and documents when required by law, subpoena or court order (provided Executive gives reasonable notice thereof and makes reasonably available to the Company and its counsel the documents and other information sought
and assists such counsel, at the Company’s expense, in resisting or otherwise responding to such order or process), (ii) disclosing information and documents to his attorney or tax adviser for the purpose of securing legal or tax advice,
(iii) disclosing the post-employment restrictions in this Agreement to any potential new employer, (iv) retaining, at any time, his personal correspondence, his personal rolodex or outlook contacts and documents related to his own personal
benefits, entitlements and obligations, or (v) disclosing or retaining information that, through no act of Executive in breach of this Agreement or any other party in violation of an existing confidentiality agreement with the Company, is
generally available to the public, is in the public domain at the time of disclosure or is available from other sources. 
 11.
Specific Performance. Executive acknowledges and agrees that remedies at law available to the Company for a breach or threatened breach of any of the provisions of Sections 9 or 10 would be inadequate and the Company would suffer
irreparable damages as a result of such breach or threatened breach. In recognition of this fact, Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company without posting any bond,
shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available. 

12. Miscellaneous. 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles thereof. 

(b) Entire Agreement; Amendments. This Agreement contains the entire understanding of the parties with respect to the
matters herein (including, without limitation, Executive’s compensation, benefits and severance) and supersedes all prior agreements (including, without limitation, the Predecessor Agreement which shall be of no force and effect upon this
Agreement becoming effective), understandings, memoranda, term sheets, conversations and negotiations. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the parties with respect to the subject matter
herein other than those expressly set forth herein. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties hereto. 
 (c) No Waiver. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver of such party’s rights or deprive
such party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. 

  
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 (d) Severability. In the event that any one or more of the provisions of this
Agreement shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. 

(e) Assignment. This Agreement shall not be assignable by Executive. This Agreement may be assigned by the Company with
Executive’s consent, such consent not to be unreasonably withheld, to a person or entity that is a successor in interest to substantially all of the business operations of the Company. Upon such assignment, the rights and obligations of the
Company hereunder shall become the rights and obligations of such affiliate or successor person or entity as applicable. 
 (f)
Successors; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon personal or legal representatives, executors, administrators, successors, heirs, distributees, devises and legatees of Executive.

 (g) Notice. For the purpose of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or five days after it has been mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt. 

 

			
	If to the Company:	  	PBF Investments LLC
		  	c/o PBF Energy
		  	1 Sylvan Way, 2nd Floor
		  	Parsippany, NJ 07054
		
	If to Executive:	  	

 (h) Release. As a condition of receipt of the benefits described in Sections 8(b)(ii),
8(b)(iii), 8(c)(ii) and 8(e)(ii), as applicable, Executive must execute the full and complete release of the PBF Companies and certain related entities or persons thereof in substantially the form attached hereto as Exhibit A (the
“Release”) from any and all claims which Executive may then have for whatever reason or cause in connection with Executive’s employment and the termination thereof (other than those obligations specifically set out in this
Agreement, any indemnification agreement, the indemnification provisions in the Company’s governing documents, and the obligations of the Company and such related entities to the extent that the documents providing for such obligations
specifically provide that the obligations are in addition to obligations under this Agreement), and deliver the Release to the Company on or prior to the 21st day or the 45th day, as applicable, following the date on which his employment with the
Company terminates and he is given an execution version of the Release, and Executive shall not revoke the same within the seven-day period following its execution. 

  
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 (i) Arbitration. Any dispute with regard to the enforcement of this Agreement
or any matter relating to the employment of Executive by the Company including but not limited to disputes relating to claims of employment discrimination, alleged torts or any violation of law other than the seeking of equitable relief in
accordance with applicable law under Section 11 hereof, shall be exclusively resolved by a single experienced arbitrator licensed to practice law in the State of New York, selected in accordance with the American Arbitration Association
(“AAA”) rules and procedures, at an arbitration to be conducted in the State of New York pursuant to the National Rules for the Resolution of Employment Disputes rules of AAA with the arbitrator applying the substantive law of the
State of New York as provided for under Section 12(a) hereof. The AAA shall provide the parties hereto with lists for the selection of arbitrators composed entirely of arbitrators who are members of the National Academy of Arbitrators and who
have prior experience in the arbitration of disputes between employers and senior executives. The determination of the arbitrator shall be final and binding on the parties hereto and judgment therein may be entered in any court of competent
jurisdiction. Each party shall pay its own attorneys fees and disbursements and other costs of the arbitration. 
 (j)
Executive Representation. Executive hereby represents to the Company that (i) he has duly executed and delivered this Agreement, and (ii) the execution and delivery of this Agreement by Executive and the Company and the
performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment agreement or other agreement or policy or government or court order to which Executive is a party or
otherwise bound. 
 (k) Cooperation. Executive shall provide his reasonable cooperation in connection with any
action or proceeding (or any appeal from any action or proceeding) that relates to events occurring during Executive’s employment hereunder. The Company shall provide Executive with a reasonable stipend of not less than $2,000.00 per day and
shall reimburse Executive for reasonable expenses incurred as a result of Executive’s cooperation with the Company. Notwithstanding anything to the contrary herein, this provision shall survive any termination of this Agreement. 

(l) Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such federal, state and local
taxes as may be required to be withheld pursuant to any applicable law or regulation. 
 (m) Indemnification, Insurance
and Related Matters. During the Employment Term and for so long as there exists potential for liability thereafter with regard to the Executive’s activities during the Employment Term on behalf of the PBF Companies (regardless of
whether as an employee, officer, or member of the Board or in any other capacity on behalf of the PBF Companies), the Company shall indemnify, defend and hold harmless the Executive on terms and conditions no less favorable than any of the PBF
Companies provides at any time during the Employment Term or afterwards to its other executive officers and members of the Board. During the Employment Term and for six (6) years thereafter, the Executive shall be entitled, at the
Company’s expense, to the same directors’ and officers’ liability insurance coverage that any of the PBF Companies provides generally to its other executive officers and members of the Board, as may be amended from time to time,
provided that such insurance coverage following the Employment Term shall be on terms and conditions no less favorable to 

  
 -12-

 
the Executive than those in effect at the expiration or termination of the Employment Term. The rights provided by this Section 12(m) shall be in addition to any other rights to which
Executive may be entitled under any of the organizational documents of any of the PBF Companies, any agreement, pursuant to any vote of the holders of equity interests or securities of any of the PBF Companies, as a matter of law or otherwise.

 (n) Section 409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no payments contemplated by this Agreement will be paid during the six-month period following the Executive’s termination of employment
if the Company determines, in its good faith judgment, that paying such amounts at the time or times contemplated by this Agreement would cause the Executive to incur an additional tax under Section 409A (in which case such amounts shall be
paid at the time or times indicated in this Section 12(n)). If the payment of any amounts are delayed as a result of the previous sentence, (i) the Company will create a U.S. irrevocable grantor trust with the funds to be held for the
benefit of the Executive, known as a “rabbi trust” and contribute to it any amounts subject to the delay as soon as is practicable, and (ii) on the first business day following the earlier of Executive’s death or the end of the
six-month period, the Company will pay Executive a lump sum amount equal to the amounts that would have otherwise been previously paid to Executive under this Agreement during such six-month period, plus accrued interest on such amounts at a rate of
4.5% per annum for the period beginning on the date of Executive’s termination of employment through the payment date. Thereafter, payments will resume in accordance with this Agreement. 

(ii) It is the intent of the Company that the provisions of this Agreement comply with Section 409A. Accordingly, the
parties intend that this Agreement be interpreted and operated consistent with such requirements of Section 409A to avoid application of penalty taxes under Section 409A to the extent reasonably practicable. In the event that following the
Start Date the Company or Executive reasonably determines that any compensation or benefits payable under this Agreement may be subject to Section 409A, the Company and Executive shall work together to attempt to reach mutual agreement to adopt
such amendments to this Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect), or take any other commercially reasonable actions necessary or appropriate to (x) exempt the
compensation and benefits payable under this Agreement from Section 409A and/or preserve the intended tax treatment of the compensation and benefits provided with respect to this Agreement or (y) comply with the requirements of
Section 409A, provided however, without Executive’s consent the economic benefit to Executive may not be diminished, reduced or delayed, and the Company is not required to take any action under this sentence other than that specially
provided herein, and provided, further that neither the Company nor any of its employees or representatives shall have any liability to Executive with respect thereto. In addition, the Executive may (but shall not be entitled to) become the
beneficiary of a separate indemnity agreement with the Company related to certain liabilities for taxes, including those arising under Section 409A. 

  
 -13-

 (iii) All reimbursements and in-kind benefits provided pursuant to this
Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(l)(iv) such that any reimbursements or in-kind benefits will be deemed payable at a specified time or on a fixed schedule relative to a permissible payment
event. Specifically, (A) the amounts reimbursed and in-kind benefits under this Agreement, other than with respect to medical benefits provided under Sections 6 and 8, during Executive’s taxable year may not affect the amounts reimbursed
or in-kind benefits provided in any other taxable year, (B) the reimbursement of an eligible expense shall be made on or before the last day of Executive’s taxable year following the taxable year in which the expense was incurred, and
(C) the right to reimbursement or an in-kind benefit is not subject to liquidation or exchange for another benefit. For purposes of Section 409A, each payment made under this Agreement shall be designated as a “separate payment”
within the meaning of Section 409A. 
 (o) Counterparts. This Agreement may be signed in counterparts, each
of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

[The remainder of this page intentionally left blank.] 

  
 -14-

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
day and year first above written. 
  

									
	PBF INVESTMENTS LLC	 		 	EXECUTIVE
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	Michael D. Gayda
	Title	 		 		 	Title:	 	President

 EXHIBIT A 

AGREEMENT AND RELEASE 
 This Agreement and Release (“Release”) is entered into between you, the undersigned employee, and PBF INVESTMENTS LLC, a Delaware limited liability company (the
“Company”), in connection with the Employment Agreement between you and the Company dated as of [December     ], 2012 (as subsequently amended, the “Employment Agreement”). You have
[            ] days to consider this Release, which you agree is a reasonable amount of time. While you may sign this Release prior to the expiration of this
[            ] day period, you are not to sign it prior to             , 20    . 

1. Definitions. 
 (a) “Released Parties” means the Company, PBF Energy Company LLC, PBF Energy Inc. and their past, present and future parents, subsidiaries, divisions, successors, predecessors, employee
benefit plans and affiliated or related companies, and also each of the foregoing entities’ past, present and future owners, officers, directors, stockholders, investors, partners, managers, principals, members, committees, administrators,
sponsors, executors, trustees, fiduciaries, employees, agents, assigns, representatives and attorneys, in their personal and representative capacities. Each of the Released Parties is an intended beneficiary of this Release. 

(b) “Claims” means all theories of recovery of whatever nature, whether known or unknown, recognized by the law or
equity of any jurisdiction. It includes but is not limited to any and all actions, causes of action, lawsuits, claims, complaints, petitions, charges, demands, liabilities, indebtedness, losses, damages, rights and judgments in which you have had or
may have an interest. It also includes but is not limited to any claim for wages, benefits or other compensation; provided, however that nothing in this Release will affect your entitlement to benefits pursuant to the terms of any employee benefit
plan (as defined in the Employee Retirement Income Security Act of 1974, as amended) sponsored by the Company in which you are a participant. The term Claims also includes but is not limited to claims asserted by you or on your behalf by some other
person, entity or government agency. 
 2. Consideration. The Company agrees to pay you the consideration set
forth in Sections 8(b)(ii), 8(b)(iii), 8(c)(ii), and/or 8(e)(ii), as applicable, of the Employment Agreement. The Company will make the payment(s) to you on the sixtieth (60) day following the date of your termination of employment, provided
that you sign this Release (and return it to the Company) on or prior to the [21st][45th] day following the date your employment terminates and you are given an execution version of this Release and do not revoke this Release within the seven
(7) day period following its execution. You acknowledge that any payment that the Company makes to you under this Release is in addition to anything else of value to which you are entitled and that the Company is not otherwise obligated to make
such payment to you. 
 3. Release of Claims. 

(a) You, on behalf of yourself and your heirs, executors, administrators, legal representatives, successors, beneficiaries, and assigns,
unconditionally release and forever 

  
 A-1

 
discharge the Released Parties from, and waive, any and all Claims that you have or may have against any of the Released Parties arising from your employment with the Company, the termination
thereof, and any other acts or omissions occurring on or before the date you sign this Release. 
 (b) The release set forth in
Paragraph 3(a) includes, but is not limited to, any and all Claims under (i) the common law (tort, contract or other) of any jurisdiction; (ii) the Rehabilitation Act of 1973, the Age Discrimination in Employment Act, the Americans with
Disabilities Act, Title VII of the Civil Rights Act of 1964, and any other federal, state and local statutes, ordinances, employee orders and regulations prohibiting discrimination or retaliation upon the basis of age, race, sex, national origin,
religion, disability, or other unlawful factor; (iii) the National Labor Relations Act; (iv) the Employee Retirement Income Security Act; (v) the Family and Medical Leave Act; (vi) the Fair Labor Standards Act; (vii) the
Equal Pay Act; (viii) the Worker Adjustment and Retraining Notification Act; and (ix) any other federal, state or local law. 
 (c) In furtherance of this Release, you represent that as of the date you entered into this Release neither you nor anyone acting on your behalf has brought any Claims against any of the Released Parties
in or before any court, administrative agency or arbitral authority and you hereby waive any relief available to you, including, without limitation, monetary damages, attorney’s fees and costs, equitable relief and reinstatement, under any
Claims waived pursuant to this Release. 
 4. Acknowledgment. You acknowledge that, by entering into this Release,
the Company does not admit to any wrongdoing in connection with your employment or termination, and that this Release is intended as a compromise of any Claims you have or may have against the Released Parties. You further acknowledge that you have
carefully read this Release and understand its final and binding effect, have had a reasonable amount of time to consider it, have had the opportunity to seek the advice of legal counsel of your choosing, and are entering this Release voluntarily.
In addition, you hereby certify your understanding that you may revoke the Release by providing written notice thereof to the Company within seven (7) days following execution of the Release and that, upon such revocation, this Release will not
have any further legal effect. 
 5. Applicable Law. This Release shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of laws principles thereof. 
 6. Arbitration.
Any dispute with regard to the enforcement of the Employment Agreement or this Release or any matter relating to the employment of Executive by the Company including but not limited to disputes relating to claims of employment discrimination,
alleged torts or any violation of law other than the seeking of equitable relief in accordance with applicable law under Section 11 of the Employment Agreement, shall be exclusively resolved by a single experienced arbitrator licensed to
practice law in the State of New York, selected in accordance with the American Arbitration Association (“AAA”) rules and procedures, at an arbitration to be conducted in the State of New York pursuant to the National Rules for the
Resolution of Employment Disputes rules of AAA with the arbitrator applying the substantive law of the State of New York as provided for under Section 5 of this Release. The AAA shall 

  
 A-2

 
provide the parties hereto with lists for the selection of arbitrators composed entirely of arbitrators who are members of the National Academy of Arbitrators and who have prior experience in the
arbitration of disputes between employers and senior executives. The determination of the arbitrator shall be final and binding on the parties hereto and judgment therein may be entered in any court of competent jurisdiction. Each party shall pay
its own attorneys fees and disbursements and other costs of the arbitration. 
 7. Severability. Each part, term,
or provision of this Release is severable from the others. Notwithstanding any possible future finding by a duly constituted authority that a particular part, term, or provision is invalid, void, or unenforceable, this Release has been made with the
clear intention that the validity and enforceability of the remaining parts, terms and provisions shall not be affected thereby. If any part, term, or provision is so found invalid, void or unenforceable, the applicability of any such part, term or
provision shall be modified to the minimum extent necessary to make it or its application valid and enforceable. 

  
 A-3

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year
set forth below. 
  

									
	PBF INVESTMENTS LLC	 		 	EMPLOYEE
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	Michael D. Gayda
	Title	 		 		 	Title:	 	PresidentStock Repurchase Agreement

 Exhibit 10.1 
 STOCK REPURCHASE AGREEMENT 
 THIS STOCK REPURCHASE AGREEMENT (this
“Agreement”) is entered into as of December 12, 2012 by and among Graphic Packaging Holding Company, a Delaware corporation (the “Company”), and the stockholders of the Company listed on Schedule A to
this Agreement (collectively, the “Investors”). 
 Background 

A. The Investors own an aggregate of 254,092,303 shares of the Company’s common stock, $0.01 par value per share ( “Common
Stock”), and have agreed to transfer a portion of those shares to the Company on the terms and conditions set forth in this Agreement; 
 B. The Investors and the Company have commenced an underwritten public offering (the “Public Offering”) of shares of Common Stock held by the Investors (the “Underwritten
Shares”); 
 C. The Company has proposed to repurchase up to an aggregate number of shares of Common Stock (the
“Repurchase Shares”) equal to (i) $300,000,000 divided by (ii) the price per share to the public in the Public Offering (the “Purchase Price”) upon the terms and conditions provided in this Agreement (the
“Repurchase”); and 
 D. The Company has commenced a financing transaction to obtain no less than $300,000,000
of additional senior secured debt to finance the Repurchase and to obtain the consent of the lenders under its senior credit facility for the Repurchase (the “Financing Transaction”). 

E. The Investors and the Company desire to condition the Repurchase on the closing of the Public Offering and the Financing Transaction.

 THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 
 Agreement 

1. Repurchase. 
 (a) Each Investor hereby agrees, severally and not jointly, to transfer, assign, sell, and convey 100% of its right, title, and interest in and to the number of Repurchase Shares set forth opposite such
Investor’s name on Schedule A, subject to adjustment as provided in paragraph 4. 
 (b) The obligations of the Company to
purchase the Repurchase Shares shall be subject to (i) the closing of the Public Offering pursuant to an underwriting agreement by and among the Company, the Investors and the underwriters named therein (the “Underwriting
Agreement”) and (ii) the closing of the Financing Transactions on terms reasonably satisfactory to the Company. 

 (c) The closing of the sale of the Repurchase Shares (the “Closing”), as
applicable, shall take place upon the same day as the closing of the sale of the Underwritten Shares at the offices of Alston & Bird LLP, One Atlantic Center, 1201 West Peachtree Street, Atlanta, GA 30309, or at such other time and place as
may be agreed upon by the Company and Investors holding a majority of the aggregate number of Repurchase Shares. At the Closing, each Investor shall deliver to the Company or as instructed by the Company duly executed stock powers relating to those
Repurchase Shares being sold by such Investor, and the Company agrees to deliver to each Investor by wire transfer of immediately available funds the Purchase Price multiplied by the number of Repurchase Shares being sold by such Investor.

 2. Company Representations. In connection with the transactions contemplated hereby, the Company represents and
warrants to the Investors that: 
 (a) The Company is a corporation duly organized and existing under the laws of the State of
Delaware. The Company has the requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. 

(b) This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement of the
Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable
principles. 
 (c) The compliance by the Company with this Agreement and the consummation of the transactions herein
contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the
Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (ii) violate any provision of the
certificate of incorporation or by-laws, or other organizational documents, as applicable, of the Company or its subsidiaries or (iii) violate any statute or any order, rule or regulation of any court or governmental agency or body having
jurisdiction over the Company or any of its subsidiaries or any of their properties; except, in the case of clauses (i) and (iii), as would not reasonably be expected to have a material adverse effect on the financial position,
stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole, in the case of each such clause, after giving effect to any consents, approvals, authorizations, orders, registrations, qualifications, waivers
and amendments as will have been obtained or made as of the date of this Agreement; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the execution,
delivery and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions contemplated by this Agreement, except where the failure to obtain or make any such consent, approval,
authorization, order, registration or qualification would not reasonably be expected to have a material adverse effect on the financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a
whole. 

  
 2 

 3. Representations of the Investors. In connection with the transactions contemplated
hereby, each Investor severally and not jointly represents and warrants to the Company that: 
 (a) All consents, approvals,
authorizations and orders necessary for the execution and delivery by such Investor of this Agreement and for the sale and delivery of the Repurchase Shares to be sold by such Investor hereunder, have been obtained; and such Investor has full right,
power and authority to enter into this Agreement and to sell, assign, transfer and deliver the Repurchase Shares to be sold by such Investor hereunder, except for such consents, approvals, authorizations and orders as would not impair in any
material respect the consummation of the Investors’ obligations hereunder. 
 (b) This Agreement has been duly authorized,
executed and delivered by such Investor and constitutes a valid and binding agreement of such Investor, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization
or other laws affecting enforcement of creditors’ rights or by general equitable principles. 
 (c) The sale of the
Repurchase Shares to be sold by such Investor hereunder and the compliance by such Investor with all of the provisions of this Agreement and the consummation of the transactions contemplated herein (i) will not conflict with or result in a
breach or violation of any of the terms or provisions of, or constitute a default under, any statute, indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Investor is a party or by which such Investor is
bound or to which any of the property or assets of such Investor is subject, (ii) nor will such action result in any violation of the provisions of (x) any organizational or similar documents pursuant to which such Investor was formed or
(y) any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over such Investor or the property of such Investor; except in the case of clause (i) or clause (ii)(y), for such conflicts,
breaches, violations or defaults as would not impair in any material respect the consummation of such Investor’s obligations hereunder. 
 (d) As of the date hereof and immediately prior to the delivery of the Repurchase Shares to the Company at the Closing, such Investor will be the beneficial or record holder of the Repurchase Shares with
full dispositive power thereover, and holds, and will hold, such Repurchase Shares free and clear of all liens, encumbrances, equities or claims; and, upon delivery of such Repurchase Shares and payment therefor pursuant hereto, assuming that the
Company has no notice of any adverse claims within the meaning of Section 8-105 of the New York Uniform Commercial Code as in effect in the State of New York from time to time (the “UCC”), the Company will acquire a valid
security entitlement (within the meaning of Section 8-102(a)(17) of the UCC) to such Repurchase Shares purchased by the Company, and no action (whether framed in conversion, replevin, constructive trust, equitable lien or other theory) based on
an adverse claim (within the meaning of Section 8-105 of the UCC) to such security entitlement may be asserted against the Company. 

  
 3 

 4. Termination. 

(a) This Agreement may be terminated with respect to any Investor at any time by the mutual written, consent of the Company and such
Investor. Furthermore, this Agreement shall automatically terminate and be of no further force and effect, in the event that, the conditions in paragraph 1(b) of this Agreement have not been satisfied within 10 business days after the date hereof.

 (b) In the event that this Agreement is terminated as to any Investor or any Investor defaults on the obligations of such
Investor under paragraph 1 (a “Defaulting Investor”), the number of Repurchase Shares being sold to the Company by each remaining Investor shall be increased by a number of shares of Common Stock equal to (x) the number of
Repurchase Shares set forth opposite the name of such Defaulting Investor on Schedule A multiplied by (y) a fraction, the numerator of which shall equal the number of Repurchase Shares set forth opposite the name of such remaining Investor on
Schedule A and the denominator of which shall equal the aggregate number of Repurchase Shares set forth on Schedule A with respect to all remaining Investors. 
 5. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given
when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight courier, or sent via email (receipt of which is confirmed) to the recipient. Such notices,
demands and other communications will be sent, in the case of the Investors, to the addresses set forth on the signature pages to this Agreement and, in the case of the Company, to the address indicated below: 

To the Company: 

Graphic Packaging Holding Company 
 Law Department – 9th Floor 
 1500 Riveredge Parkway, Suite 100 

Atlanta, Georgia 30328 
 Attention: Stephen A. Hellrung 
 Email Address: steve.hellrung@graphicpkg.com

 With a copy to (which shall not constitute notice): 
 Alston & Bird LLP 
 One Atlantic Center 

1201 West Peachtree Street 
 Atlanta, Georgia 30309-3449 
 Attention: W. Scott Ortwein 

Email Address: scott.ortwein@alston.com 
 or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

  
 4 

 6. Miscellaneous. 

(a) Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any
party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 (b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is
held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement
will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein. 
 (c) Complete Agreement. This Agreement and any other agreements ancillary thereto and executed and delivered on the date hereof embody the complete agreement and understanding between the parties
and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 

(d) Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of
which taken together constitute one and the same agreement. 
 (e) Successors and Assigns. Except as otherwise provided
herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Investors and the Company and their respective successors and assigns. 
 (f) Governing Law. The Agreement will be governed by and construed in accordance with the laws of the State of New York. 
 (g) Remedies. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole
discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement.

 (h) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written
consent of the Company and each Investor. 
 (i) Further Assurances. Each of the Company and the Investors shall execute
and deliver such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 

(j) Expenses. Each of the Company and the Investors shall bear their own expenses in connection with the drafting, negotiation,
execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 (k)
Interpretation. The definitions in this Agreement are applicable to the singular as well as the plural forms of such terms. 
 [Signatures appear on following pages.] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have executed this Stock Repurchase Agreement as of
the date first written above. 
  

			
	Company:
	
	GRAPHIC PACKAGING HOLDING COMPANY
		
	By:	 	 /s/ Stephen A. Hellrung

	Name:	 	Stephen A. Hellrung
	Title:	 	Senior Vice President, General Counsel and
	Secretary

 
			
	Investors:
	
	TPG Bluegrass IV — AIV 1, L.P.
	By:	 	TPG GenPar IV, L.P.,
	its general partner
	By:	 	TPG GenPar IV Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President
	
	TPG Bluegrass IV — AIV 2, L.P.
	By:	 	TPG GenPar IV, L.P.,
	its general partner
	By:	 	TPG GenPar IV Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President
	
	TPG Bluegrass V — AIV 1, L.P.
	By:	 	TPG GenPar V, L.P.,
	its general partner
	By:	 	TPG GenPar V Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President
	
	TPG Bluegrass V — AIV 2, L.P.
	By:	 	TPG GenPar V, L.P.,
	its general partner
	By:	 	TPG GenPar V Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President

 
			
	TPG FOF V — A, L.P.
	By:	 	TPG GenPar V, L.P.,
	its general partner
	By:	 	TPG GenPar V Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President
	
	TPG FOF V — B, L.P.
	By:	 	TPG GenPar V, L.P.,
	its general partner
	By:	 	TPG GenPar V Advisors, LLC,
	its general partner
		
	By:	 	 /s/ Ronald Cami

	Name:	 	Ronald Cami
	Title:	 	Vice President
	
	Address for Notices:
	
	c/o TPG Capital, L.P.
	345 California Street, Suite 3300
	San Francisco, CA 94104
	Attention: General Counsel
	
	with a copy to (which shall not constitute notice):
	
	 Debevoise & Plimpton LLP
 919 Third Avenue
 New York, New York 10022
 Attention: Paul S. Bird, Esq.

 
			
	Adolph Coors Jr. Trust U/A 9/12/69
	Augusta Coors Collbran Trust U/A 7/5/46
	Bertha Coors Munroe Trust B U/A 7/5/46
	Grover C. Coors Trust U/A 8/7/52
	Herman F. Coors Trust U/A 7/5/46
	Louise Coors Porter Trust U/A 7/5/46
	May Kistler Coors Trust U/A 9/24/65
		
	By:	 	Adolph Coors Company LLC Trustee
		
	By:	 	 /s/ Jeffrey H. Coors

	Name:	 	Jeffrey H. Coors
	Title:	 	Director
	
	Address for Notices:
	
	c/o Adolph Coors Company LLC
	Coors Family Trusts
	2120 Carey Avenue, Suite 412
	Cheyenne, WY 82001
	
	with a copy to (which shall not constitute notice):
	
	Long Reimer Winegar Beppler LLP
	2120 Carey Avenue, Suite 412
	Cheyenne, WY 82001
	Attention: Natalie K. Winegar
	
	Adolph Coors Foundation
		
	By:	 	 /s/ Jeffrey H. Coors

	Name:	 	Jeffrey H. Coors
	Title:	 	Trustee and Treasurer
	
	Address for Notices:
	
	c/o Adolph Coors Foundation
	Coors Family Trusts
	2120 Carey Avenue, Suite 412
	Cheyenne, WY 82001

 
	
	with a copy to (which shall not constitute notice):
	
	Long Reimer Winegar Beppler LLP
	2120 Carey Avenue, Suite 412
	Cheyenne, WY 82001
	Attention: Natalie K. Winegar
	
	with a copy to (which shall not constitute notice):
	
	Long Reimer Winegar Beppler LLP
	2120 Carey Avenue, Suite 412
	 Cheyenne, WY 82001
 Attention:
Natalie K. Winegar

 
			
	Clayton, Dubilier & Rice Fund V Limited
	 Partnership

		
	By:	 	CD&R Associates V Limited Partnership, its
	general partner
		
	By:	 	CD&R Investment Associates II, Inc., its
	managing general partner
		
	By:	 	 /s/ Theresa A. Gore

	Name:	 	Theresa A. Gore
	Title:	 	Vice President, Treasurer &
		 	Assistant Secretary
	
	Address for Notices:
	
	Clayton, Dubilier & Rice Fund V Limited
	 Partnership

	c/o Clayton, Dubilier & Rice, LLC
	375 Park Avenue
	New York, New York 10152
	Attention: Donald J. Gogel
	
	with a copy to (which shall not constitute notice):
	
	 Debevoise & Plimpton LLP
 919 Third Avenue
 New York, New York 10022
 Attention: Paul S. Bird, Esq.

 
			
	Old Town S.A.
		
	By:	 	 /s/ Pierre Martinet

	Name:	 	Pierre Martinet
	Title:	 	Managing Director
	
	Address for Notices:
	
	Old Town S.A.
	22-24 Boulevard Royal
	L-2449 Luxembourg
	Attention: Mr. Pierre Martinet
	
	with a copy to (which shall not constitute notice):
	
	Paul, Weiss, Rifkind, Wharton & Garrison LLP
	1285 Avenue of the Americas
	New York, New York 10019
	Attention: Toby S. Myerson

 SCHEDULE A 

 

					
	 Investor
	  	Repurchase Shares	 
	 TPG Bluegrass IV — AIV 1, L.P.
	  	 	5,323,277	  
	 TPG Bluegrass IV — AIV 2, L.P.
	  	 	8,947,881	  
	 TPG Bluegrass V — AIV 1, L.P.
	  	 	5,167,987	  
	 TPG Bluegrass V — AIV 2, L.P.
	  	 	9,036,978	  
	 TPG FOF V — A, L.P.
	  	 	37,158	  
	 TPG FOF V — B, L.P.
	  	 	29,035	  
	 Adolph Coors Jr. Trust
	  	 	306,547	  
	 Augusta Coors Collbran Trust
	  	 	111,161	  
	 Bertha Coors Munroe Trust
	  	 	124,862	  
	 Grover C. Coors Trust
	  	 	4,811,352	  
	 Herman F. Coors Trust
	  	 	157,105	  
	 Louise Coors Porter Trust
	  	 	100,747	  
	 May Kistler Coors Trust
	  	 	189,035	  
	 Adolph Coors Foundation
	  	 	55,154	  
	 Clayton, Dubilier & Rice Fund V Limited Partnership
	  	 	7,391,024	  
	 Old Town S.A.
	  	 	7,391,024	  
		  	  
	  
	 
	 Total
	  	 	49,180,327

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}]]