Document:

Exhibit 4.6

 

Execution
Version

 

SHAREHOLDERS AGREEMENT

 

This Shareholders Agreement
(this “Agreement”) is made and entered into as of August 4, 2021 (the “Effective Date”), by
and between Ardagh Group S.A., a public limited liability company (société anonyme) governed by the laws of the Grand
Duchy of Luxembourg with its registered office at 56, Rue Charles Martel, L-2134 Luxembourg, Luxembourg and registered with the Luxembourg
Trade and Companies Register under registration number B160804 (“AGSA”), and Ardagh Metal Packaging S.A., a public
limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg with its registered
office at 56, Rue Charles Martel, L-2134 Luxembourg, Luxembourg and registered with the Luxembourg Trade and Companies Register under
registration number B251465 (“AMPSA”). AGSA and AMPSA are referred to herein individually as a “Party”
and together as the “Parties”.

 

WHEREAS,
prior to consummation of the transactions contemplated by that certain Business Combination Agreement, dated as of February 22,
2021, by and among AGSA, AMPSA, Gores Holdings V, Inc., a Delaware corporation, and Ardagh MP MergeCo Inc., a Delaware corporation
(the “BCA”), AMPSA was a wholly-owned subsidiary of AGSA;

 

WHEREAS, following the consummation
of the transactions contemplated by the BCA, AGSA holds approximately eighty-one point eight percent (81.8%) of the issued and outstanding
Shares; and

 

WHEREAS, pursuant to the BCA,
AMPSA and AGSA are entering into this Agreement to provide for, among other things, certain governance matters related to AMPSA.

 

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

 

Article I

DEFINITIONS

 

Section 1.1            Definitions.
Capitalized terms used in this Agreement have the meanings set forth below.

 

“Action”
means any civil, criminal, administrative, disciplinary or other action, suit, proceeding, arbitration, claim, demand, litigation, prosecution,
contest, investigation, inquiry, hearing, inquest, complaint, dispute or other legal recourse, including any arbitration tribunal, in
each case, by or before a Governmental Authority.

 

“Affiliate”
means, with respect to any Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled
by, or is under common Control with such Person at such time.

 

“AGSA Group”
means AGSA and its Affiliates; provided that for purposes of this definition, AGSA Group shall not include AMPSA or any of its
Subsidiaries.

 

     

     

    

 

“Board” means
the board of directors of AMPSA.

 

“Business Day”
means any day other than (a) a Saturday or Sunday or (b) any other day on which commercial banks in Luxembourg City, Luxembourg,
or New York, New York, are authorized or required by legal requirements to close.

 

“Control”
(including the terms “Controlled by” and “under common Control with”) means the possession, directly
or indirectly, of the power to direct or cause the direction of management or policies of such Person, whether through the ownership of
voting securities as a trustee, by contract, or otherwise.

 

“Controlled Company
Eligible” means qualifying as a controlled company under the listing rules of the NYSE.

 

“Exchange Act”
means the United States Securities Exchange Act of 1934, as amended, and any successor thereto, as the same shall be in effect from time
to time.

 

“Governing Documents”
means, with respect to AMPSA and any of its Subsidiaries, collectively, such Person’s articles of association, memorandum of association
or other similar governing instruments required by the Laws of its jurisdiction of formation or organization.

 

“Governmental Authority”
means any U.S. or non-U.S. national, federal, state, local, supranational, regional, or provincial government or any court of competent
jurisdiction, administrative or regulatory agency, board, bureau, arbitrator, tribunal, or arbitral body or commission or other national,
state, local, supranational, regional or provincial governmental authority or instrumentality entitled to exercise any administrative,
executive, judicial, legislative, police, regulatory or taxing authority or power.

 

“Governmental Order”
means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by any Governmental Authority.

 

“IFRS” means
the International Financial Reporting Standards and related interpretations as issued by the International Accounting Standards Board
(IASB).

 

“Law” means
any U.S. or non-U.S. national, federal, state, provincial, local or supranational law (including common law), statute, code, Governmental
Order, consent decree, doctrine, ordinance, rule, regulation, treaty or other legal requirement of any Governmental Authority.

 

“Necessary
Action” means, with respect to a specified result set forth in this Agreement, any action that is necessary or advisable,
to the fullest extent permitted by applicable Law, to cause such specified result, including: (a) voting or providing a written
consent or proxy with respect to the Shares; (b) causing the adoption of amendments to the Governing Documents; (c) executing agreements and instruments relating to such specified result; and (d) making, or causing to be
made, with any Governmental Authority, all filings, registrations or similar actions, in each case of the foregoing, that are in
connection with causing such specified result.

 

    2

     

    

 

“NYSE” means
the New York Stock Exchange.

 

“PCAOB” means
the United States Public Company Accounting Oversight Board and any division or subdivision thereof.

 

“Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization, association or other entity or a Governmental Authority.

 

“Representative”
means, with respect to any Person, such Person’s Affiliates and its and their respective professional advisors, directors, officers,
members, managers, stockholders, partners, employees, agents and authorized representatives.

 

“Shares”
means shares of AMPSA, par value of EUR 0.01 each.

 

“Subsidiary”
of any Person means another Person, of which at least a majority of the outstanding securities or ownership interests having, by their
terms, ordinary voting power to elect a majority of the board of directors or other persons performing similar functions, is owned or
controlled directly or indirectly by such first Person or by one or more of its Subsidiaries.

 

“Tax”
or “Taxes” means any and all taxes, charges, fees, levies or other assessments, including income, excise, franchise,
real or personal property, sales, transfer, gains, gross receipts, occupation, privilege, payroll, wage, unemployment, workers’
compensation, use, value-added, capital, license, severance, stamp, recording, documentary, premium, environmental, capital stock, profits,
withholding, registration, customs duties, employment, alternative or add-on minimum, estimated, escheat or other taxes of any kind whatsoever
(whether disputed or not), including any related charges, fees, interest, penalties, additions to tax or other assessments imposed by
any Taxing Authority.

 

“Tax
Returns” means any return, report, statement, claim, disclaimer, information return or other document (including elections,
declarations, disclosures, schedules, estimates or any related or supporting information or attachments thereto) filed or required to
be filed with any Taxing Authority.

 

“Taxing
Authority” means any Governmental Authority that is responsible for the administration or imposition of any Tax.

 

Article II

BOARD MATTERS; APPROVAL RIGHTS

 

Section 2.1        Board
Composition.

 

(a)            As
of the Effective Date, the authorized number of directors of the Board (each, a “Director”) shall be eleven (11), of
which (i) nine (9) of the Directors shall be appointed upon proposal for nomination by AGSA (the “AGSA Directors”)
and (ii) two (2) Directors shall be appointed upon proposal for nomination by Gores Sponsor V LLC, a Delaware limited liability
company (the “Sponsor”) pursuant to the terms of the BCA. At least three (3) of the Directors nominated by AGSA
shall satisfy the independence requirements of the NYSE.

 

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(b)            In
accordance with AMPSA’s Governing Documents, the Directors shall be divided into three (3) classes of Directors designated
as Class I, Class II and Class III. Each class of Directors shall consist, as nearly equal as possible, of one third (1/3)
of the total number of Directors constituting the entire Board. The Class I Directors, including the two Directors designated by
the Sponsor, shall serve for a one (1)-year term of office, the Class II Directors shall serve for a two (2)-year term of office,
and the Class III Directors shall serve for a three (3)-year term of office. At each succeeding annual general meeting of AMPSA,
successors to the class of Directors whose term expires at that meeting shall be elected for a three (3)-year term of office.

 

Section 2.2        AGSA
Representation.

 

(a)            For
so long as the AGSA Group collectively holds a number of Shares representing at least twenty percent (20%) of the Shares then issued
and outstanding (the “AGSA Group Requisite Ownership”), AMPSA shall take all Necessary Action to include in the slate
of nominees recommended by the Board for election as Directors at each applicable annual or special general meeting at which Directors
are to be elected such number of individuals nominated by AGSA so that if elected, there will be a number of AGSA Directors at least
proportional to the number of Shares then owned by AGSA.

 

(b)            If
at any time the AGSA Group collectively holds a number of Shares representing less than the AGSA Group Requisite Ownership such that the
rights set forth in Section 2.2(a) no longer apply, then any Director previously nominated by AGSA and then serving on
the Board shall be entitled to serve for the remainder of his or her term as a Class I, Class II or Class III Director,
as applicable, and shall not be required to resign from the Board prior to the expiration of such term.

 

Section 2.3        Chairperson.
For so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, the AGSA Directors shall have the right to designate
the Chairperson of the Board, who as of the Effective Date shall be Mr. Paul R. Coulson. The Chairperson may, but is not required
to be, an AGSA Director.

 

Section 2.4        Committee
Representation. For so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, the AGSA Directors shall have
the right to appoint a number of AGSA Directors to serve on each Committee of the Board that is proportional to the number of Shares AGSA
then owns.

 

Section 2.5        Vacancies
and Removal. AGSA shall have the exclusive right to request the removal of any AGSA Director from the Board, and AMPSA shall take
all Necessary Action to cause the
removal of any AGSA Director at the request of AGSA. AGSA shall have the exclusive right to appoint or nominate for election, as the case
may be, to the Board a Director to fill vacancies created by reason of death, removal or resignation of any then-serving AGSA Director
or the Chairperson of the Board, and AMPSA shall take all Necessary Action to cause any such vacancies to be filled by replacement Directors
nominated by AGSA as promptly as reasonably practicable.

 

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Section 2.6        Board
Meetings. The Parties intend that all meetings of the Board shall be held physically in Luxembourg with the directors participating
in such meetings in accordance with AMPSA’s Governing Documents. Notwithstanding the foregoing, solely to the extent necessary to
minimize risk to the health and safety of the directors, meetings of the Board may be held solely by videoconference or teleconference
in accordance with AMPSA’s Governing Documents and the Laws of Luxembourg.

 

Section 2.7        Board
Meeting Expenses. AMPSA shall pay all reasonable and documented out-of-pocket costs and expenses (including travel and lodging) incurred
by each Director in the course of, and in connection with, his or her service as a Director, including in connection with attending regular
and special meetings of the Board, any board of directors or board of managers of any of AMPSA’s Subsidiaries or any of their respective
committees.

 

Section 2.8        Controlled
Company Exception. At all times at which AMPSA is Controlled Company Eligible, AMPSA shall take all Necessary Action to avail itself
of all “controlled company” exemptions to the rules of the NYSE or any other exchange on which the Shares are then listed
and shall comply with all requirements under Law (including Item 407(a) of Regulation S-K) and all disclosure requirements to take
such actions.

 

Section 2.9        Sharing
of Information. Each of AMPSA and AGSA agrees and acknowledges that the AGSA Directors may share confidential, non-public information
about AMPSA and its Subsidiaries with members of the AGSA Group.

 

Section 2.10      Certain
Approvals. For so long as the AGSA Group collectively holds a number of Shares representing at least forty percent (40%) of the Shares
then issued and outstanding, AMPSA will not undertake, or agree to undertake, whether directly or indirectly, any of the following actions
without the prior written consent of AGSA; provided that to the extent such action requires shareholder consent or approval as
a matter of Law, consent or approval given by AGSA for such purpose shall constitute consent for the purpose of this Section 2.10:
(a) any transaction or series of related transactions that results in a direct or indirect sale (including by way of merger, consolidation,
recapitalization, reorganization, transfer, sale or other business combination or similar transaction) of greater than forty percent (40%)
of the property or assets, or greater than forty percent (40%) of the voting securities of, AMPSA (other than (i) pursuant to any
offer to purchase securities made directly to the shareholders of AMPSA that is not approved by the Board, (ii) any merger or issuance
of voting securities that does not result in a Person or group of Persons acting together that would constitute a “group”
for purposes of Section 13(d) of the Exchange Act becoming the holder of greater than forty percent (40%) of the voting securities
of AMPSA, or (iii) any reorganization or recapitalization that does not violate clauses (b) or (c) of this Section 2.10);
(b) any liquidation or dissolution (or the adoption of a plan of liquidation or dissolution) of AMPSA, except for a liquidation or
dissolution (or the adoption of a plan of liquidation or dissolution) in connection with an involuntary case within the meaning of any
bankruptcy or similar Law relating to insolvency; (c) any amendment to or modification of the Governing Documents of AMPSA that materially
and adversely affects AGSA in its capacity as shareholder of AMPSA; (d) relocation of the corporate headquarters of AMPSA; (e) any
change to AMPSA’s corporate name; or (f) any corporate action that would have the effect of eliminating, or materially adversely
affecting, any approval right to which AGSA is then entitled pursuant to clauses (a) through (f) of this Section 2.10.

 

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Article III

FINANCIAL STATEMENTS; ACCESS TO INFORMATION

 

Section 3.1        Financial
Statements. For so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, AMPSA shall deliver the following
to AGSA:

 

(a)            as
soon as available, but in any event within thirty (30) days after the end of each monthly accounting period in each fiscal year; provided
that with respect to the third (3rd) month of each fiscal quarter, such monthly report shall be delivered within forty-five (45) days
after the end of such applicable fiscal quarter (or such earlier time, to the extent made available to the Board), unaudited consolidated
statements of income and cash flows of AMPSA for such monthly period and for the period from the beginning of the fiscal year to the end
of such month, and unaudited consolidated balance sheets of AMPSA as of the end of such monthly period, which shall also set forth in
each case (unless expressly waived in writing by AGSA) comparisons to the corresponding period in the preceding fiscal year and, if applicable,
to budgeted amounts, all prepared in accordance with IFRS, consistently applied, subject to normal year-end audit adjustments and the
absence of footnotes;

 

(b)            as
soon as available, but in any event (i) within thirty (30) days after the end of each quarterly accounting period of AMPSA in each
fiscal year, internally prepared draft quarterly financial statements, and (ii) within forty-five (45) days after the end of each
quarterly accounting period of AMPSA in each fiscal year (A) the quarterly financial statements of AMPSA (in the forms to be publicly
filed by it pursuant to applicable Law, if applicable), or (B) unaudited consolidated statements of income and cash flows of AMPSA
for such quarterly period and for the period from the beginning of the fiscal year to the end of such quarter and unaudited consolidated
balance sheets of AMPSA as of the end of such quarterly period, which shall also set forth in each case (unless expressly waived in writing
by AGSA) comparisons to the corresponding period in the preceding fiscal year and, if applicable, to budgeted amounts, all prepared in
accordance with IFRS, consistently applied, subject to normal year-end audit adjustments and the absence of footnotes, and shall be certified
by a senior executive officer of AMPSA;

 

(c)            as
soon as available, but in any event (i) within forty-five (45) days after the end of each fiscal year of AMPSA, internally prepared
draft annual financial statements, and (ii) within sixty (60) days after the end of each fiscal year of AMPSA, (A) the annual
financial statements of AMPSA (in the forms required to be publicly filed by it pursuant to applicable Law, if applicable), or (B) a
consolidated balance sheet of AMPSA as of the end of such fiscal year, and consolidated statements of income and cash flows of AMPSA for
such year, which shall also set forth in each case (unless expressly waived in writing by AGSA) comparisons to the preceding fiscal year
and, if applicable, to budgeted amounts, all prepared in accordance with IFRS, consistently applied, subject to normal year-end audit
adjustments and the absence of footnotes, and audited, for so long as AMPSA is required by applicable Law to provide such audited financial
statements, in accordance with the auditing standards of the PCAOB; and

 

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(d)            with
reasonable promptness, such other information and financial data concerning AMPSA and its Subsidiaries as any member of the AGSA Group
may reasonably request by written inquiry or otherwise, in order to prepare financial or other reports required by applicable Law or as
otherwise required in connection with the operation of the business of the AGSA Group or any debt or equity financing or refinancing transactions
to be effected by any member of the AGSA Group.

 

Section 3.2        Access
to Information.

 

(a)            For
so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, AMPSA shall permit representatives designated by the
members of the AGSA Group, at reasonable times and upon reasonable notice to (i) visit and inspect any of the properties of AMPSA
and its Subsidiaries, (ii) examine the corporate and financial records of AMPSA and its Subsidiaries and make copies thereof or extracts
therefrom, and (iii) discuss the affairs, finances and accounts of any such Persons with the Directors, officers, key employees and
independent accountants of AMPSA and its Subsidiaries.

 

(b)            For
so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, AMPSA shall, and shall cause its Subsidiaries to, provide
the members of the AGSA Group, in addition to other information that might be reasonably requested by written inquiry by the members of
the AGSA Group from time to time (i) to the extent otherwise prepared by AMPSA, operating and capital expenditure budgets and periodic
information packages relating to the operations and cash flows of AMPSA and its Subsidiaries, and (ii) access to the chief executive
officer, chief financial officer or other executive officer of AMPSA from time to time at reasonable times and upon reasonable notice
to discuss AMPSA’s annual business plan and operating budget.

 

(c)            For
so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, each of AGSA and AMPSA, upon the reasonable request of
the other Party, shall make available to the requesting Party all information, records and documents in its possession that may be relevant
to any Tax Return, audit, examination, proceeding or determination with respect to Taxes of AMPSA or any of its Subsidiaries, or any member
of the AGSA Group, as the case may be.

 

Section 3.3        Other
Information. For so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, AMPSA shall promptly provide the
members of the AGSA Group with such information as reasonably required or requested by the AGSA Group in connection with any debt or equity
financing or refinancing transactions to be effected by them or for purposes of their compliance with applicable Laws or stock exchange
regulations.

 

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Section 3.4        Confidentiality.
AGSA shall not, and shall cause each member of the AGSA Group not to, disclose any confidential non-public information provided to AGSA
or any other member of the AGSA Group, or to any AGSA Director, in each case, pursuant to the terms of this Agreement, to any Person outside
of the AGSA Group. Notwithstanding the foregoing, any member of the AGSA Group shall be permitted to disclose such information to its
directors, officers or employees, and any member of the AGSA Group or any AGSA Director shall be permitted to disclose any such information
to their respective attorneys, accountants, consultants, advisors and other representatives if such Persons are bound by an obligation
to maintain confidentiality with respect to such information. In addition, any member of the AGSA Group shall be permitted to disclose
any confidential non-public information to any Person outside of the AGSA Group (a) to the extent required (i) to comply with
applicable Laws or stock exchange regulations, including in connection with the filing of financial or other reports required to be filed
with any Governmental Authority or stock exchange, or (ii) by any subpoena, investigative demand, audit or similar process of any
Governmental Authority, (b) in connection with any financing or capital raising transaction by any member of the AGSA Group, subject
to the execution of one or more customary confidentiality agreements with potential lenders or initial purchasers, or (c) subject
to the execution of one or more customary confidentiality agreements, in connection with any transaction involving the direct or indirect
sale or other disposition by any member of the AGSA Group of Shares.

 

Article IV

Independent auditors; cooperation

 

Section 4.1        Independent
Auditors. For so long as the AGSA Group collectively holds the AGSA Group Requisite Ownership, AMPSA shall take all Necessary Action
to ensure that AMPSA appoints and retains as its independent auditors the same independent registered public accounting firm appointed
as the independent auditors of AGSA and its Subsidiaries.

 

Section 4.2        Cooperation.
AMPSA acknowledges that AGSA may in the future determine to effect a reorganization that may include a transaction or series of transactions
that would result in shareholders of AGSA receiving direct ownership of Shares, whether by distribution, dividend, exchange offer or other
means. AMPSA hereby agrees that upon the request of AGSA, AMPSA shall cooperate with AGSA in implementing any such reorganization event,
including by taking any Necessary Action, to effect any such reorganization event; provided, that AGSA shall bear the expenses
of AMPSA in connection with any such reorganization event.

 

Article V

MISCELLANEOUS

 

Section 5.1        Amendment
and Waiver. This Agreement may be amended by the Parties at any time by execution of an instrument in writing signed on behalf of
each Party.

 

Section 5.2        Severability.
The Parties acknowledge that the rights and obligations provided for in this Agreement are subject to the applicable provisions of applicable
Laws and stock exchange regulations. In the event that any term, provision, covenant or restriction of this Agreement, or the application
thereof, is held to be illegal, invalid or unenforceable under any present or future applicable Law: (a) such provision will be fully
severable; (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised
a part hereof; (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the
illegal, invalid or unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid or unenforceable
provision, the Parties agree to cooperate to effect an amendment pursuant to Section 5.1 in order to cure the illegality,
invalidity or unenforceability of such provision to effect the terms of such illegal, invalid or unenforceable provision as may be possible.

 

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Section 5.3        Entire
Agreement. Except as otherwise expressly set forth herein, this Agreement and the documents referenced herein and therein embody the
complete agreement and understanding among the Parties with respect to the subject matter hereof 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.

 

Section 5.4        Successors
and Assigns. Except for Section 3.4, which shall survive for two (2) years after the termination of this Agreement,
and except as may otherwise be explicitly provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by
AMPSA and its successors and assigns, and AGSA and its successors and assigns, so long as the AGSA Group collectively holds the AGSA Group
Requisite Ownership.

 

Section 5.5        Counterparts.
This Agreement may be executed in separate counterparts each of which shall be an original and all of which taken together shall constitute
one and the same agreement.

 

Section 5.6        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 AMPSA and AGSA shall have the right to injunctive relief or specific performance, in addition to all of its rights and remedies
at law or in equity, to enforce the provisions of this Agreement. Nothing contained in this Agreement shall be construed to confer upon
any Person who is not a signatory hereto any rights or benefits, as a third party beneficiary or otherwise.

 

Section 5.7        Notices.
All notices and other communications hereunder shall be in writing and shall be deemed given: (a) on the date delivered if delivered
personally; (b) one (1) Business Day after being sent by an internationally recognized overnight courier guaranteeing overnight
delivery; (c) on the date of transmission, if delivered by email, with confirmation of transmission; or (d) on the fifth (5th)
Business Day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications, to
be valid, must be addressed as follows:

 

if to AGSA, to:

 

56, Rue Charles Martel

L-2134 Luxembourg

Luxembourg

Attention: Hermanus Troskie

    Torsten Schoen

Email:
herman.troskie@maitlandgroup.com

     torsten.schoen@ardaghgroup.com

 

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if to AMPSA, to:

 

56, Rue Charles Martel

L-2134 Luxembourg

Luxembourg

Attention: Oliver Graham

    David Bourne

Email:
oliver.graham@ardaghgroup.com

     david.bourne@ardaghgroup.com

 

or to such other address or to the attention of
such Person or Persons as the recipient Party has specified by prior written notice to the sending Party (or in the case of counsel, to
such other readily ascertainable business address as such counsel may hereafter maintain). If more than one method for sending notice
as set forth in this Section 5.7 is used, the earliest notice date established as set forth in this Section 5.7
shall control.

 

Section 5.8        Governing
Law; Jurisdiction. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement shall
be governed by, and construed in accordance with, the Laws of the Grand Duchy of Luxembourg. Any Action arising in connection with this
Agreement shall be submitted to the jurisdiction of the courts of Luxembourg City.

 

Section 5.9        Descriptive
Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement.

 

Section 5.10      Interpretation
and Rules of Construction.  In this Agreement, except to the extent otherwise provided or that the context otherwise
requires:

 

(a)            when
a reference is made in this Agreement to an Article or Section, such reference is to an Article or Section of this Agreement;

 

(b)            the
headings preceding the text of Articles and Sections included herein are for reference purposes only and do not affect in any way the
meaning or interpretation of this Agreement;

 

(c)            whenever
the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed
by the words “without limitation”;

 

(d)            the
word “or” is not exclusive and is deemed to have the meaning “and/or”;

 

(e)            the
words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
refer to this Agreement as a whole and not to any particular provision of this Agreement;

 

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(f)            all
terms defined in this Agreement have the defined meanings when used in any certificate or other document delivered or made available pursuant
hereto, unless otherwise defined therein;

 

(g)            where
used with respect to information, the phrases “delivered” or “made available” shall mean that the information
referred to has been physically or electronically delivered to the relevant Party or a Representative designated by such Party in writing
as acceptable to receive such information on behalf of such Party;

 

(h)            references
to “day” or “days” are to calendar days;

 

(i)            the
definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms;

 

(j)            references
to a Person are also to its successors and permitted assigns; and

 

(k)            when
calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this
Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is not
a Business Day, the period in question shall, if applicable, end on the next succeeding Business Day.

 

[The remainder of this page is intentionally
left blank.]

 

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IN
WITNESS WHEREOF, the Parties have executed this Shareholders Agreement on the day and year first above written.

 

	 	ARDAGH GROUP S.A.
	 	 
	 	By: 	/s/ Hermanus Troskie
	 	 	Name: Hermanus Troskie
	 	 	Title: Director
	 	 
	 	ARDAGH METAL PACKAGING S.A.
	 	 
	 	By: 	/s/ Yves Elsen
	 	 	Name: Yves Elsen
	 	 	Title: Director

 

[Signature
Page to Shareholders Agreement]Exhibit 4.7

 

Execution
Version

 

 

 

SERVICES AGREEMENT

 

by and between

 

ARDAGH GROUP S.A.

 

and

 

ARDAGH METAL PACKAGING S.A.

 

Dated as of August 4, 2021

 

 

 

     

     

    

 

Table of Contents

 

		 	 	Page
	 	 	 	 
	Article I
	 	 	 	 
	Definitions
	 	 	 	 
	Section 1.1	 	Certain Defined Terms	1
	Section 1.2	 	Other Defined Terms	3
	 	 	 	 
	Article II
	 	 	 	 
	Services
	 	 	 	 
	Section 2.1	 	Description of Services	5
	Section 2.2	 	Shared Space	6
	Section 2.3	 	Third Party Services	7
	Section 2.4	 	Consents	8
	Section 2.5	 	Standard of Services	8
	Section 2.6	 	Provision of Services	9
	Section 2.7	 	Cooperation	10
	Section 2.8	 	Services Managers	10
	Section 2.9	 	Service Interruption	10
	Section 2.10	 	Force Majeure	11
	Section 2.11	 	Obligations	11
	Section 2.12	 	Data and IT Systems Protection	12
	 	 	 	 
	Article III
	 	 	 	 
	FEES AND PAYMENT
	 	 	 	 
	Section 3.1	 	Fees for Corporate Services	13
	Section 3.2	 	Fees for Business Unit Services	14
	Section 3.3	 	Employee Transfers	14
	Section 3.4	 	Invoice and Payment	15
	Section 3.5	 	Failure to Make Payment	15
	Section 3.6	 	Disputes and Resolution	15
	Section 3.7	 	Audit Rights	16
	Section 3.8	 	Records	16
	Section 3.9	 	Taxes	16
	 	 	 	 
	Article IV
	 	 	 	 
	DISCLAIMER AND LIMITATION OF LIABILITY
	 	 	 	 
	Section 4.1	 	Disclaimer of Warranties	17
	Section 4.2	 	Limitation of Liability	18

 

    i 

     

    

 

	Article V
	 	 	 	 
	INTELLECTUAL PROPERTY
	 	 	 	 
	Section 5.1	 	Intellectual Property	19
	Section 5.2	 	Ardagh Name License	20
	Section 5.3	 	Transitional License	21
	 	 	 	 
	Article VI
	 	 	 	 
	CONFIDENTIALITY
	 	 	 	 
	Section 6.1	 	Specified Confidentiality Matters	21
	 	 	 	 
	Article VII
	 	 	 	 
	INDEMNIFICATION
	 	 	 	 
	Section 7.1	 	Indemnification by Receiving Party	22
	Section 7.2	 	Indemnification by the Providing Party	22
	Section 7.3	 	Indemnification Regarding Ardagh Name and Ardagh Logo	23
	Section 7.4	 	Procedures for Indemnification	23
	 	 	 	 
	Article VIII
	 	 	 	 
	TERM AND TERMINATION
	 	 	 	 
	Section 8.1	 	Term; Termination of Services	24
	Section 8.2	 	Migration Plan; Transition Assistance	26
	Section 8.3	 	Survival	27
	 	 	 	 
	Article IX
	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	Section 9.1	 	Notices	28
	Section 9.2	 	Interpretation	28
	Section 9.3	 	Execution in Counterparts	29
	Section 9.4	 	Entire Agreement	29
	Section 9.5	 	Severability	29
	Section 9.6	 	Assignment	29
	Section 9.7	 	Amendment	30
	Section 9.8	 	Waiver	30
	Section 9.9	 	Governing Law	30

 

    ii 

     

    

 

	Exhibits	 
	 	 
	Exhibit A – AGSA Services	 
	Exhibit B – AMPSA Services	 
	Exhibit C – Shared Space Leases	 
	Exhibit D – Ardagh Name License	 

 

    iii 

     

    

 

 

SERVICES AGREEMENT

 

This
SERVICES AGREEMENT, dated as of August 4, 2021 (this “Agreement”), is made and entered into by and between Ardagh
Group S.A., a public limited liability company (société anonyme) organized under the laws of the Grand Duchy
of Luxembourg with its registered office at 56, Rue Charles Martel, L-2134 Luxembourg, Luxembourg and registered with the Luxembourg Trade
and Companies Register under registration number B160804 (“AGSA”), and Ardagh Metal Packaging S.A., a public limited
liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg with its registered
office at 56, Rue Charles Martel, L-2134 Luxembourg, Luxembourg and registered with the Luxembourg Trade and Companies Register under
registration number B251465 (“AMPSA”). AGSA and AMPSA are referred to individually as a “Party,”
and collectively, as the “Parties.”

 

WHEREAS, AMPSA is engaged in
the business of developing, manufacturing, marketing and selling metal beverage cans and ends and providing related technical and customer
services (the “AMP Business”);

 

WHEREAS,
prior to consummation of the transactions (the “Closing”) contemplated by that certain Business Combination
Agreement, dated as of February 22, 2021, by and among AGSA, AMPSA, Gores Holdings V, Inc., a Delaware corporation, and Ardagh
MP MergeCo Inc., a Delaware corporation, AMPSA was a wholly-owned subsidiary of AGSA and the AGSA Entities provided certain services to
the AMP Entities and the AMP Entities provided services to the AGSA Entities;

 

WHEREAS,
following the Closing, AGSA holds approximately eighty-one point eight percent (81.8%) of the issued and outstanding shares of
AMPSA; and

 

WHEREAS,
following the Closing, AGSA and AMPSA deem it to be appropriate and in their mutual best interests that the AGSA Entities continue to
provide certain services to the AMP Entities, and that the AMP Entities continue to provide certain services to the AGSA Entities, in
each case, pursuant to the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the foregoing and the premises, covenants and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Article I

 

Definitions

 

Section 1.1         Certain
Defined Terms. Capitalized terms used in this Agreement have the meanings set forth below.

 

“Action”
means any action, suit, proceeding, arbitration, claim, demand, litigation, prosecution, contest, investigation, inquiry, hearing, inquest,
audit, complaint, dispute or other legal recourse, in each case, by or before a Governmental Authority or arbitration tribunal,
whether civil, criminal, administrative, disciplinary or otherwise.

 

     

     

    

 

“Affiliate”
means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by, or under common control
with, such specified Person; provided that for the purposes of this definition, “control” (including, with correlative
meanings, the terms “controlled by” and “under common control with”), as used with respect to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities, by Contract or otherwise; provided, further, that for the
purposes of this Agreement, the AMP Entities shall not be Affiliates of AGSA.

 

“AGSA Entities”
means AGSA and its Affiliates, other than any AMP Entity.

 

“AMP Entities”
means AMPSA and its Subsidiaries.

 

“Business Day”
means a day other than (a) a Saturday or Sunday or (b) any other day on which banks located in Luxembourg City, Luxembourg are
required or authorized by Law to be closed for business.

 

“Contract”
means a legally-binding contract, agreement, indenture, note, bond, loan or credit agreement, instrument, lease, commitment, mortgage,
deed of trust, license, power of attorney, guaranty or other arrangement or obligation, whether written or oral, in each case, as amended
and supplemented from time to time and including all schedules, annexes and exhibits thereto.

 

“Governmental Authority”
means any national, federal, state, local, supranational, regional, or provincial government or any court of competent jurisdiction, administrative
or regulatory agency, board, bureau, arbitrator, tribunal, or arbitral body or commission or other national, state, local, supranational,
regional or provincial governmental authority or instrumentality entitled to exercise any administrative, executive, judicial, legislative,
police, regulatory or taxing authority or power.

 

“Governmental Order”
means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by any Governmental Authority.

 

“Group” means,
in respect of AGSA, the AGSA Entities, and in respect of AMPSA, the AMP Entities.

 

“Intellectual Property”
means all intellectual property worldwide, including the following: (a) patents and patent applications, all divisionals, continuations,
continuations-in-part, revisions, renewals, extensions, substitutions and re-examinations and reissues thereof and all industrial design
rights and utility models; (b) trademarks, service marks, trade dress, trade names, community design rights, Internet domain
names, and all other identifiers indicating a business or source of goods or services, together with the goodwill associated exclusively
with any of the foregoing (collectively, “Trademarks”); (c) copyrights, including copyrights in copyrightable
works, works of authorship and computer software, and all database and design rights and rights in data collections, in each case, whether
or not registered or published, all moral rights (however denominated) and all other rights equivalent to any of the foregoing; (d) registrations,
applications for registration, renewals, extensions and reversions for any of the foregoing; (e) trade secrets and other proprietary
and confidential information (excluding tangible embodiments of such proprietary and confidential information), including all rights in
confidential customer lists and know-how; (f) all other intellectual property rights arising from software or technology; and (g) all
corresponding (including under international treaties or conventions) or equivalent intellectual property rights in or to any of the foregoing
anywhere in the world.

 

    2 

     

    

 

“Law” means
any national, federal, state, provincial, local or supranational law (including common law), statute, code, Governmental Order, consent
decree, doctrine, ordinance, rule, regulation, treaty or other legal requirement of any Governmental Authority.

 

“Permitted Holder”
means any Affiliate of AGSA as of the date hereof or any of their respective Affiliates.

 

“Person”
means any individual, corporation, partnership, limited partnership, limited liability company, syndicate, person, trust, association
or entity or Governmental Authority or any political subdivision, agency or instrumentality of a government.

 

“Personal Information”
means, in addition to any definition for “personal information” or any equivalent term (e.g., “personal data”
or “personally identifiable information” or “PII”) provided by applicable Law, or by the Providing Party or the
Receiving Party in any of their respective privacy policies, notices or contracts, all information that identifies or could be used to
identify an individual person. Personal Information may relate to any individual, including a current, prospective or former customer,
end user or employee of any Person, and includes information in any form or media, whether paper, electronic, or otherwise.

 

“Subsidiary”
of any Person means another Person, of which at least a majority of the outstanding securities or ownership interests having, by their
terms, ordinary voting power to elect a majority of the board of directors or other persons performing similar functions is owned or controlled
directly or indirectly by such first Person or by one or more of its Subsidiaries; provided, however, that, for purposes
of this Agreement, the AMP Entities shall not be deemed to be Subsidiaries of AGSA.

 

“Tax”
or “Taxes” means any and all taxes, charges, fees, levies or other assessments, including income, excise, franchise,
real or personal property, sales, transfer, gains, gross receipts, occupation, privilege, payroll, wage, unemployment, workers’
compensation, use, value-added, capital, license, severance, stamp, recording, documentary, premium, environmental, capital stock, profits,
withholding, registration, customs duties, employment, alternative or add-on minimum, estimated, escheat or other taxes of any kind whatsoever
(whether disputed or not), including any related charges, fees, interest, penalties, additions to tax or other assessments imposed by
any taxing authority.

 

“Termination Date”
means, with respect to any Service, the date on which such Service is terminated, and with respect to this Agreement, the date on which
this Agreement is terminated, in each case, pursuant to the terms hereof.

 

    3 

     

    

 

Section 1.2         Other
Defined Terms. The following terms have the meanings set forth in the Sections set forth below:

 

	Agreement	Preamble
	AGSA Indemnitees	Section 7.3
	AGSA Retained Business	Section 2.1(a)
	AGSA Services	Section 2.1(a)
	AMP Business	Recitals
	AMPSA	Preamble
	AMPSA Services	Section 2.1(a)
	Ardagh Logo	Section 5.3
	Ardagh Name License	Section 5.2(a)
	Assessment Date	Section 3.1(a)
	Background Intellectual Property	Section 5.1(a)
	Business 	Section 2.1(a)
	Business Unit Services	Section 2.1(a)
	Change of Control of AMPSA	Section 8.1(b)
	Change of Control of AGSA	Section 8.1(c)
	Claim Notice	Section 7.4(a)
	Closing	Recitals
	Corporate Services	Section 2.1(a)
	Covered Taxes	Section 3.9
	Defense Notice	Section 7.4(b)(i)
	Deliverables	Section 5.1(c)
	Fees	Section 3.2
	Force Majeure Event	Section 2.10
	Foreground Intellectual Property	Section 5.1(b)
	Indemnified Party	Section 7.4(a)
	Indemnifying Party	Section 7.4(a)
	Indemnity Claim	Section 7.4(a)(i)
	Initial Term	Section 3.1(a)
	IT Security Policies	Section 2.12(b)(ii)
	IT Systems	Section 2.12(a)
	Migration Plan	Section 8.2(a)
	Parties	Preamble
	Party	Preamble
	Payment Date	Section 3.4
	Provider Indemnitees	Section 7.1
	Providing Party	Section 2.1(b)(i)
	Receiver Indemnitees	Section 7.2
	Receiving Party	Section 2.1(b)(i)
	Representatives	Section 2.7
	Required Consents	Section 2.4(a)
	Reset Date	Section 3.1(b)
	Services	Section 2.1(a)
	Services Manager	Section 2.8
	Shared Leased Premises	Section 2.2(a)
	Shared Space Lease	Section 2.2(a)
	Shared Space Term	Section 2.2(b)

 

    4 

     

    

 

	Tax Benefit	Section 3.9(a)
	Terminated Services	Section 8.1(d)
	Termination Notice	Section 8.1(d)
	Trademarks	Definition of Intellectual Property
	Transitional License	Section 5.3
	Transitional Sublicensees	Section 5.3
	Third Party	Section 2.3
	Third Party Claim	Section 7.4(a)(i)
	Underlying Document	Section 2.1(c)

 

Article II

 

Services

 

Section 2.1         Description
of Services.

 

(a)            On
the terms and subject to the conditions of this Agreement, commencing on the date hereof (i) AGSA shall provide, or cause to be provided
by one or more of the other AGSA Entities, the services set forth in Exhibit A hereto to the AMP Entities, in each case, in
support of the AMP Business (the “AGSA Services”), and (ii) AMPSA shall provide, or cause to be provided by one
or more of the other AMP Entities, the services set forth in Exhibit B hereto (the “AMPSA Services” and
together with the AGSA Services, the “Corporate Services”) to the AGSA Entities in support of their respective businesses
(which for the avoidance of doubt shall exclude the AMP Business) (the “AGSA Retained Business”, and each of the AGSA
Retained Business and the AMP Business, a “Business”). In addition, prior to the date hereof, certain operating companies
of AGSA’s Group provided certain services and recharges to operating companies of AMPSA’s Group, and vice versa, in each case,
as reflected in AGSA’s reported results for the “Metal Beverage Packaging” segment and its 2020 to 2024 long range plan
for such segment, (such services and recharges, collectively, the “Business Unit Services” and together with the Corporate
Services, and any ancillary services that are reasonably necessary in connection with the Business Unit Services or the Corporate Services
or inherent to the successful delivery of such services the “Services”). On the terms and subject to the conditions
of this Agreement, commencing on the date hereof, such Business Unit Services shall continue to be provided by the applicable AMP Entities
or AGSA Entities, in each case in a manner and on terms consistent with past practices. The Services may only be modified pursuant to,
and in accordance with, the terms of this Agreement.

 

(b)            The
Parties acknowledge and agree that (i) a Party (in its capacity as a provider of Services, the “Providing Party”)
may satisfy its obligations hereunder to provide Services to the other Party (such other Party or its Affiliates, the “Receiving
Party”) by causing one or more of its Affiliates to provide or procure such Services (in which case, such Affiliates shall be
included in the definition of “Providing Party” for all purposes hereof in respect of such Services), which Affiliates such
Providing Party may change in its discretion from time to time and without prior notice to the Receiving Party (provided that such
change does not cause any material disruption to the delivery of Services), and (ii) a Providing Party or its Affiliates may be providing
similar services, or services that involve the same resources as those used to provide the Services, to its internal organizations, other
Affiliates or third parties. The Providing Party reserves the right to modify any or all of the Services to the extent reasonably necessary
so that the provision or use of any of the Services hereunder would not violate any Law applicable to the Services, the Providing Party
or any of its Affiliates and Representatives, including any applicable antitrust and competition Law; provided that the Providing
Party shall provide the Receiving Party with prior written notice of any such modification and the Parties shall work together in good
faith to provide for a replacement to such Services.

 

    5 

     

    

 

(c)            Notwithstanding
anything to the contrary in this Agreement, the obligations of the Providing Parties to provide any Service relating to real property
and facilities under this Agreement shall be subject to, in all cases, the terms and conditions of any relevant underlying lease, sublease
or agreement or instrument with a party other than an Affiliate of the Providing Party (each, an “Underlying Document”);
provided that, to the extent the Underlying Document prohibits provision of the applicable Service, the applicable Providing Party
shall use commercially reasonable efforts to amend or modify the Underlying Document, or obtain a waiver or consent from the applicable
third party, in each case, such that the applicable Service is no longer prohibited, and the Receiving Party shall reasonably cooperate
in connection therewith. Without limitation to the foregoing, any Service of the type described in the preceding sentence shall immediately
terminate without any further action on the part of the Parties in the event that the Underlying Document terminates in accordance with
its terms and is not replaced by a similar arrangement; provided that the Providing Party shall provide the Receiving Party with
prior notice of any such termination as promptly as practicable and the Providing Party and the Receiving Party shall work together in
good faith to provide for a replacement to such terminated Service, or shall otherwise discuss and agree in good faith on an appropriate
adjustment to the Fees for such terminated Service. In the event of any conflict between this Agreement and the terms and conditions of
any Underlying Document, the terms and conditions of the Underlying Document shall control.

 

(d)            To
the extent not set forth in Exhibit A or Exhibit B or included in the Business Unit Services, and as reasonably
required to perform the Services, the Providing Party may request and, subject to the prior written consent of the Receiving Party (such
consent not to be unreasonably conditioned, withheld or delayed), the Receiving Party shall provide, subject to compliance with applicable
Law (including any applicable antitrust and competition Law) and the Receiving Party’s standard rules and procedures for access
to its real property or facilities, designated members of the Providing Party or its Affiliates with access to the Receiving Party’s
premises and such equipment, telecommunications systems, computer systems, records and personnel designated by the Receiving Party as
involved in receiving or overseeing the Services; provided that such access shall be subject to the Receiving Party’s overall
supervision and control; provided, further, that if the failure to receive such access renders the Providing Party unable
to perform any Services pursuant to the terms of this Agreement, the Providing Party shall be relieved of its obligations with respect
to such Services until access is provided.

 

Section 2.2         Shared
Space.

 

(a)            The
premises leased by an AGSA Entity or an AMP Entity, as lessee, as applicable (the “Shared Leased Premises”), pursuant
to the leases set forth on Exhibit C (each, a “Shared Space Lease” and collectively, the “Shared
Space Leases”) are used in both of the Businesses.

 

    6 

     

    

 

(b)            For
the term of this Agreement or such other period as set forth on Exhibit C (each, a “Shared Space Term”),
each AMP Entity, on the one hand, or AGSA Entity, on the other hand, shall have the right to use and occupy that portion of the Shared
Leased Premises and to use that portion of the common areas related to the Shared Leased Premises, in each case, in accordance with the
terms and conditions of the Shared Space Leases. For the purposes of this Section 2.2, an AGSA Entity or AMP Entity, as applicable,
being the tenant under the applicable Shared Space Lease immediately following the Closing, is the Providing Party, and an AMP Entity
or an AGSA Entity, as applicable, using the Shared Leased Premises pursuant to the terms hereof, is the Receiving Party. During the applicable
Shared Space Term (and included in the Fees payable pursuant to Section 3.2) with respect to each Shared Leased Premises (including
all common areas related thereto), all costs relating to such Shared Leased Premises, including rent, maintenance, water, sewer, telephone,
electricity and gas service, common area charges, amounts of public liability, damage, fire and extended coverage insurance as may be
required under the Shared Space Lease, and any real estate property taxes owed by the Providing Party shall be borne by the Providing
Party on the one hand, and the Receiving Party, on the other hand, based on the portion of such Shared Leased Premises used or occupied
by the Providing Party or the Receiving Party.

 

(c)            The
Receiving Party shall vacate its portion of the Shared Leased Premises on or prior to the expiration of the Shared Space Term applicable
to the Shared Leased Premises; provided, that the Providing Party shall provide reasonable advance notice thereof to the Receiving
Party. The Receiving Party shall be responsible for all moving and similar costs associated with vacating such Shared Leased Premises
and will leave its portion of such Shared Leased Premises in broom clean condition; provided that the Receiving Party shall not
be responsible for returning its portion of the Shared Leased Premises to any pre-existing condition, unless such obligation is imposed
upon the Providing Party pursuant to the applicable Shared Space Lease and known to the Receiving Party.

 

Section 2.3         Third
Party Services. The Parties acknowledge and agree that certain of the Services to be provided under this Agreement have been, and
will continue to be, provided (in accordance with this Agreement) by a Person that is not an Affiliate of the Providing Party (a “Third
Party”). To the extent so provided prior to the date hereof, the Providing Party shall use commercially reasonable efforts to
(a) cause such Third Party to provide such Services under this Agreement or (b) enable the Receiving Party to avail itself of
such Services directly; provided that, without limiting Section 2.4, if any such Third Party is unable or unwilling
or not contractually obligated to provide any such Services to the Receiving Party, the Providing Party shall consult with the Receiving
Party to determine an alternative manner in which such Services can be provided to the Receiving Party, and shall use commercially reasonable
efforts to ensure that such alternative arrangement is procured without interruption in or delay to the Services provided to the Receiving
Party. Except as may be consented to by the Providing Party (which consent will not be unreasonably withheld, conditioned or delayed)
or as shall be reasonably necessary to effectively provide the Services, the Providing Party will have the sole right to instruct, direct,
control and supervise all Third Parties in connection with their provision of the Services.

 

    7 

     

    

 

Section 2.4         Consents.

 

(a)            The
Providing Party shall, and shall cause its Affiliates to, use commercially reasonable efforts to provide all notices and obtain all waivers,
consents, authorizations and approvals necessary to allow the Providing Party (directly or by way of a Third Party) to provide the Services,
and to allow the Receiving Party to access and use the Services, in a manner that is consistent with the way such services were provided
in the ordinary course of business prior to the date hereof or as otherwise agreed by the Parties in writing, including on Exhibit A
or Exhibit B, as applicable (the “Required Consents”), and the Receiving Party shall reasonably cooperate
in connection therewith.

 

(b)            In
the event that any Required Consent is not obtained, then, unless and until such Required Consent is obtained or a reasonable alternative
arrangement is implemented (including any Required Consents for the provision of pass-through supply arrangements or licenses by Third
Parties), the Parties shall discuss in good faith a reasonable alternative arrangement and use commercially reasonable efforts to achieve
such reasonable alternative arrangement, in each case, for the Receiving Party to continue to operate its business in a manner that does
not materially and negatively affect such business and for the Providing Party (directly or by way of a Third Party) to perform or provide
Services in a manner that does not materially decrease the standard of services or materially increase the costs to the Providing Party
in providing such Services. Any fees or expenses incurred in connection with any Required Consents shall be paid by the Receiving Party;
provided that the Providing Party shall not agree to the payment of any such fees or expenses without the prior written consent
of the Receiving Party. If any Required Consent or alternative arrangement is not available despite the commercially reasonable efforts
of the Parties or as a result of the Receiving Party failing to consent to the incurrence of the fees and expenses relating to obtaining
any Required Consent, the Providing Party shall not be required to provide the applicable Services and the Parties will in good faith
discuss and agree on an appropriate adjustment to the Fees to reflect that such Service will not be provided.

 

Section 2.5         Standard
of Services. Unless otherwise expressly provided in this Agreement or the Parties agree in writing to a different arrangement, the
Providing Party shall at all times perform the Services (a) in a manner that is consistent, in all material respects, in nature,
scope, quality and timeliness with how the applicable Services were provided to the applicable Business during the twelve (12)-month period
prior to the date hereof and (b) with the use of reasonable care and good industry practice. Upon written notice to the Receiving
Party, the Providing Party may modify, change or enhance the manner, methodology, systems or applications used to provide any Service
to the Receiving Party (but not the quality of such Service or the standard of care used to provide such Service) to the extent that the
Providing Party is making a similar change in the performance of such services for its businesses or its Affiliates; provided that
such change does not have a material adverse effect on the standard of service set forth in this Section 2.5.

 

    8 

     

    

 

Section 2.6         Provision
of Services.

 

(a)            All
labor matters relating to employees of the Providing Party (including employees involved in the provision of the Services to the Receiving
Party) shall be within the exclusive control of the Providing Party, and the Receiving Party shall not take any action affecting such
matters. Nothing in this Agreement is intended to transfer the employment of employees engaged in the provision of any Service from one
Party to the other. The Providing Party shall have the sole responsibility to employ, pay, supervise, manage, control, direct and discharge
all of the personnel used in its provision of Services hereunder. Except as may otherwise be expressly provided in this Agreement, the
Providing Party may terminate the employment of any employee involved in the provision of the Services without obtaining the consent of
the Receiving Party. The Providing Party shall be solely responsible for the payment of all employee wages, benefits and any other direct
and indirect compensation for any of its personnel assigned to perform Services under this Agreement, as well as worker’s compensation
insurance, employment taxes and other employer liabilities relating to such personnel as required by Law.

 

(b)            The
Providing Party may hire or engage one or more subcontractors to perform all or any of its obligations under this Agreement; provided
that (i) the Providing Party shall use the same degree of care in selecting any subcontractors as it would if such subcontractor
was being retained to provide similar services to the Providing Party and (ii) the Providing Party shall in all cases remain responsible
for ensuring that obligations with respect to the standards of services set forth in this Agreement are satisfied with respect to any
Service provided by a subcontractor hired or engaged by the Providing Party.

 

(c)            Except
as may otherwise be expressly provided in this Agreement, the management and supervision of, and control over, the provision of the Services
by the Providing Party shall reside solely with the Providing Party.

 

(d)            Each
of the Parties acknowledges that they are separate entities, each of which has entered into this Agreement for independent business reasons.
The Providing Party shall be an independent contractor in connection with the performance of Services hereunder for any and all purposes
(including federal, state or local tax purposes), and the employees performing Services in connection herewith shall not be deemed to
be employees or agents of the Receiving Party and nothing contained herein shall be deemed to create a “partnership”, “single
employer”, “joint employer”, “alter ego” or “co-employer” relationship or a principal-agent
relationship.

 

(e)            Each
of the Providing Party and the Receiving Party shall, during the term of this Agreement, comply with all applicable Laws, including any
competition and investment Laws and, to the extent applicable, any Laws related to the privacy or security of Personal Information, including
the EU General Data Protection Regulation 2016/679 (as amended and replaced from time to time) and the California Consumer Privacy Act.
If either Party will receive, store, or otherwise process any Personal Information on behalf of the other Party in connection with any
of the Services, the Parties agree to enter into a data processing addendum to this Agreement prior to Closing, which shall set forth
the terms applicable to such receipt, storage, or other processing, including any terms required by applicable Law and, to the extent
applicable, any terms necessary to provide appropriate safeguards for the international transfer of Personal Information.

 

    9 

     

    

 

Section 2.7         Cooperation.
The Parties shall, and shall cause each of their respective Affiliates and each of the foregoing entities’ respective directors,
managers, officers, employees, agents or advisors (collectively, “Representatives”) to, cooperate with each other in
good faith (a) in the performance of the Services and the Parties’ respective obligations under this Agreement to provide required
services specified herein and (b) to maintain business continuity. Where necessary for the Providing Party to provide the Services,
the Receiving Party shall (i) provide information and documentation reasonably sufficient for the Providing Party to perform, or
cause to be performed, the Services and (ii) make available, as reasonably requested by the Providing Party, sufficient resources,
timely decisions, approvals and acceptances so that the Providing Party may accomplish its obligations hereunder in a timely manner.

 

Section 2.8         Services
Managers. Each of the Parties shall appoint and designate to act as its services manager hereunder (each such person in respect of
a Party, a “Services Manager”). Each Services Manager (a) will be directly responsible for coordinating and managing
the delivery or receipt of the applicable Services and (b) shall be the principal point of contact for the Parties for all matters
relating to the applicable Services. Each month during the term of this Agreement (or such other period as agreed between the Parties),
the Services Managers for both Parties will meet to coordinate and manage the delivery or receipt of, and review any changes or other
issues relating to, the Services. Any Party may replace its Services Manager at any time and for any reason and, upon any such replacement,
the applicable Party shall provide written notice to the other Party of such replacement.

 

Section 2.9         Service
Interruption. Upon reasonable prior notice to the Receiving Party, the Providing Party or any relevant Third Party that is providing
Services pursuant to the terms hereof will have the right to temporarily interrupt or suspend (a) the provision of Services for emergency
maintenance purposes (including to IT Systems) or (b) the operation of the facilities or IT Systems of the Providing Party or Third
Party providing any Services if it is the commercially reasonable judgment of the Providing Party or Third Party that such action is necessary
for maintenance or safety purposes. Whenever emergency maintenance is required, the Providing Party shall notify the Receiving Party as
far in advance as reasonably practicable under the circumstances that maintenance is required. Any routine maintenance or preventative
services shall take place at such time and in the manner determined by the Providing Party, consistent in all respects with its historical
practices for such routine maintenance or preventative services. In performing any maintenance contemplated by this Section 2.9,
the Providing Party shall use commercially reasonable efforts to minimize the impact of such maintenance on the Services and the Receiving
Party’s business. The Providing Party will be relieved of its obligations to provide Services only for the period of time that the
relevant facilities or systems are shut down during maintenance but shall also use commercially reasonable efforts to minimize each period
of shutdown for such purpose. Immediately following any such shutdown, the Providing Party shall promptly resume providing, or causing
to be provided, the Services to the Receiving Party.

 

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Section 2.10       Force
Majeure. Neither the Providing Party nor any Third Party providing any Services shall be liable for any interruption, delay or failure
to fulfill any obligation under this Agreement, including any interruption, delay or failure of any Service or the quality or quantity
thereof if such interruption, delay or failure results from causes beyond its reasonable control, including acts of God, acts of any public
enemy, floods, riots, fires, epidemics, pandemics, sabotage, civil commotion or civil unrest, interference by Governmental Authorities,
declaration, continuation, escalation or acts of war or terrorism, strike, walkout, lockout or other labor dispute, failure or shortage
of energy sources, raw materials or components or other similar events outside the control of the Providing Party or applicable Third
Party (“Force Majeure Event”). Upon the occurrence of a Force Majeure Event, the Providing Party shall (or in the case
of a Force Majeure Event affecting any Third Party providing Services, shall request such Third Party to) reasonably promptly notify the
Receiving Party of the Force Majeure Event and the estimated extent and duration of its inability to perform its obligations. The Providing
Party (or such Third Party) shall reasonably promptly notify the Receiving Party upon the cessation of any Force Majeure Event and shall
resume the performance of the applicable Services as soon as reasonably practicable. The Providing Party shall use its commercially reasonable
efforts to minimize the effect of the Force Majeure Event on its obligations hereunder; provided that nothing in this Section 2.10
shall be construed to require the settlement of any strike, walkout, lockout or other labor dispute on terms that, in the reasonable judgment
of the Providing Party, are contrary to its interests. If the Providing Party or any relevant Third Party is unable to provide any of
the Services due to a Force Majeure Event, the Parties shall use commercially reasonable efforts to cooperatively seek a solution that
is mutually satisfactory. During the period of any such Force Majeure Event, the Receiving Party shall be free to acquire such Services
from an alternate source, at the Receiving Party’s sole cost and expense, for such period and during the continuation of any agreement
entered into with such alternate source. For the avoidance of doubt, the Receiving Party shall not be obligated to pay the Providing Party
for those Services during the period when the Providing Party is not itself providing, or providing through a Third Party, such Services
(and the Parties shall engage in good faith discussions to determine the applicable portion of the Fee applicable to such Services, if
such Services are Corporate Services).

 

Section 2.11       Obligations.
The provision of Services hereunder is subject to the following:

 

(a)            No
Party or any of its Affiliates shall be liable for any action or inaction taken or omitted to be taken by it or a relevant Third Party
pursuant to, and in accordance with, written instructions received from the other Party.

 

(b)            Any
Party, its Affiliates and any relevant Third Party may rely upon any written notice or other written or electronic communication of any
nature provided by the other Party, and no Party or any of its Affiliates shall have any duty to verify the identity or authority of the
other Party representative signing or making any such notice or communication in accordance with this Agreement.

 

(c)            Any
Party and its Affiliates may refuse to take any action requested by the other Party if it is not an action required to be taken under
this Agreement.

 

(d)            The
Providing Party shall not have any obligation to perform any Service to the extent that performing such Service is dependent upon, or
otherwise requires, the Receiving Party or any of its Affiliates to perform some service, operation or function prior to the Providing
Party performing any such Service, unless the Receiving Party or its Affiliates shall have, in fact, prior to when the Providing Party
is required to perform such Service, performed such other service, operation or function.

 

(e)            No
Party shall, and each Party shall take commercially reasonable efforts to cause its Affiliates and its and their Representatives not to,
tamper with, compromise or circumvent any security system of the other Party or any of its respective Affiliates or any Third Party providing
Services hereunder, or obtain access to any program or data other than that to which access has been specifically granted by the other
Party or any of its Affiliates or any Third Party providing Services hereunder. Each Party shall, and shall cause its Affiliates and its
and their Representatives to, use commercially reasonable efforts to ensure that, in connection with the receipt or provision of Services
by such Party or its Affiliates, no computer virus or other malicious code is introduced to the IT Systems of the other Party or its Affiliates.

 

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(f)             Representatives
of the Receiving Party receiving the Services or working with the Providing Party in connection with the provision of Services shall at
all times be instructed to, and the applicable Party shall take commercially reasonable efforts to cause them to, comply with all physical
and technological security rules, policies and procedures of the other Party, its Affiliates and any relevant Third Party provided in
writing or made known or available to such Party by such other Party, its Affiliates or a relevant Third Party.

 

(g)            Subject
to Sections 2.4 and 2.5 hereof, in providing the Services, the Providing Party shall not be obligated to: (a) hire
or train any additional employees; (b) maintain the employment of any specific employee; (c) purchase, lease or license any
additional equipment, additional software, additional Intellectual Property or additional other personal property; or (d) except
as may be set forth on Exhibit A or Exhibit B, convert or transfer any of the Receiving Party’s data to
any alternate supplier of the Services or pay any costs related thereto.

 

Section 2.12       Data
and IT Systems Protection. Without limiting Section 2.11, the provision of Services hereunder is subject to, and each
Party acknowledges and agrees to, the following:

 

(a)            From
and after the date hereof, any access or use by either Party or its Affiliates of the computer software, hardware, networks or other information
technology systems (collectively, “IT Systems”) of the other Party or its Affiliates, and any such access or use shall
be subject to the terms and conditions of this Section 2.12.

 

(b)            To
the extent that the performance or receipt of any Services hereunder contemplates or requires (i) the Receiving Party or its Affiliates
to have access to or use of any IT Systems of the Providing Party or its Affiliates or (ii) the Providing Party or its Affiliates
to have access to or use any IT Systems of the Receiving Party or its Affiliates, the Party having such access shall, and shall cause
its Affiliates to, comply with all reasonable and generally applicable written information security and firewall policies, procedures
and limitations of the other Party or its Affiliates with respect to such access or use, each as the same having been communicated to
the Party or its Affiliate receiving access in writing from time to time (collectively, the “IT Security Policies”).
The Party receiving such access shall be responsible hereunder for each of its Representatives’ compliance with the applicable IT
Security Policies of the Party providing such access.

 

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(c)            In
the event of a cyber-incident for which the Providing Party reasonably believes the Providing Party’s IT Systems have been or could
be compromised by a malicious threat actor, the Receiving Party agrees that the Providing Party may take all steps it deems necessary
or advisable in its sole and absolute discretion as long as such does not cause harm to the Receiving Party’s IT Systems, with advance
notice to the extent practicable or legally permissible in the event such cyber-incident affects the Receiving Party’s business
or the Services, to remediate such cyber incident, including termination of or blocking the Receiving Party’s and its personnel’s
access and connectivity to the Providing Party’s IT Systems; provided that in the event that, given the nature of the incident,
it is not practicable or legally permissible to provide advance notice to the Receiving Party, the Providing Party may remediate such
cyber-incident and provide notice to the Receiving Party as soon as reasonably practical thereafter (unless such cyber-incident did not
relate to or affect the Receiving Party or the Services); provided, further, that during the pendency of any such termination
or blocking of access and connectivity, the Providing Party shall use commercially reasonable efforts to continue providing the applicable
Services to the Receiving Party. Without limiting any of the rights provided herein, if the Providing Party reasonably believes that the
Receiving Party or its personnel has failed to comply with the security guidelines of the Providing Party in any material respect, the
Receiving Party agrees that the Providing Party may do the following: (i) if such failure to comply is malicious, the Providing Party
may, upon notice to the Receiving Party describing such non-compliance, terminate or block the Receiving Party’s and its personnel’s
access and connectivity to the Providing Party’s IT Systems until such time as the Receiving Party has remedied such non-compliance,
or (ii) if such failure to comply is not malicious, the Providing Party may provide the Receiving Party written notice describing
such non-compliance and, if the Receiving Party fails to remedy such non-compliance, after cooperation with the Providing Party, within
twenty five (25) days after receipt of such notice, the Providing Party may terminate or block the Receiving Party’s and its personnel’s
access and connectivity to the Providing Party’s IT Systems until such time as the Receiving Party has remedied such non-compliance.

 

(d)            Without
limiting the foregoing in this Section 2.12, in providing and using the Services, each Party shall comply with all applicable
Laws in connection with any access to or use of IT Systems hereunder, including by limiting any access to or disclosure of sensitive proprietary
information of a Party by or to the other Party to the extent such access or disclosure is prohibited by applicable Laws.

 

Article III

 

FEES
AND PAYMENT

 

Section 3.1         Fees
for Corporate Services.

 

(a)            From
the date hereof until December 31, 2024 (such time period, the “Initial Term” and such date, the “Assessment
Date”), subject to adjustment as set forth in this Agreement, (i) AMPSA shall receive from AGSA as consideration for the
AMPSA Services, the AGSA Services, and (ii) AGSA shall receive from AMPSA as consideration for the AGSA Services, (A) the AMPSA
Services and (B) for each calendar year from 2021 through 2024, the fees set forth in Exhibit A.

 

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(b)            Unless
the Parties otherwise agree in writing, effective as of the Assessment Date and for the remainder of the term of this Agreement, the Fees
for Corporate Services shall be computed based on the fully allocated cost of each such Service with the intention that the Providing
Party incurs no gain or loss in providing such Service. At least sixty (60) days prior to the Assessment Date and thereafter at least
sixty (60) days prior to each annual anniversary of the Assessment Date (each such date, a “Reset Date”), the Parties
shall in good faith negotiate and agree on (i) adjustments to the then-applicable fees for such Services that would take effect starting
on the next applicable Reset Date, which shall take into account the then-current costs of providing such Services and the level of Services
expected to be provided hereunder until the next Reset Date, and (ii) with respect to the Ardagh Name License, the appropriate consideration
for the Ardagh Name License.

 

(c)            Certain
Corporate Services are noted on Exhibit A and Exhibit B to be based on fixed volumes. If in any month (including
during the Initial Term) the volume relating to such Corporate Service varies by over twenty percent (20%) relative to the prior calendar
quarter, the Parties will in good faith discuss and agree on an appropriate adjustment to the Fees for such Corporate Service.

 

(d)            The
Fees for each Corporate Service (including during the Initial Term) shall adjust in the case of any pass-through Corporate Services provided
by a Third Party, (i) upward at such time that any incremental costs are incurred by the Providing Party resulting from the underlying
change in pricing by the Third Party, and (ii) downward at such time that the Third Party decreases the pricing charged to the Providing
Party in connection with the provision of such Services.

 

Section 3.2         Fees
for Business Unit Services. The Parties acknowledge and agree that fees payable by AMPSA to AGSA and by AGSA to AMPSA for their respective
Business Unit Services (collectively with the fees set forth in Section 3.1, the “Fees”) shall be computed
based on the fully allocated cost of each such Service with the Providing Party incurring no gain or loss in providing such Service.

 

Section 3.3         Employee
Transfers. The Parties acknowledge and agree that, during the Initial Term, the employment of employees of either Group engaged in
providing Services hereunder may be transferred to members of the other Group, which may result in a decrease in the level of Services
required to be provided to the transferee of such employment. The Parties intend that any such transfers involving employees providing
Corporate Services would occur on a “cost neutral” basis, and will discuss in good faith and agree on any appropriate resulting
adjustments to the level or nature of the Corporate Services provided by the transferring Party hereunder and the Fees payable by the
transferee under Section 3.1(a) in respect thereof.

 

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Section 3.4         Invoice
and Payment. A Providing Party shall deliver to the Receiving Party a monthly invoice for Fees hereunder, as such Fees may be adjusted
in accordance with the terms of this Agreement (or pursuant to any amendment to this Agreement); provided that during the Initial
Term, a Providing Party shall have no obligation to deliver any invoices for the Fees for any Corporate Services in any month except for
such months in which such Fees have been adjusted pursuant to Section 2.1(c), Section 2.4(b), Section 2.10,
Section 3.1(c) or Section 3.1(d) (and Exhibit A or Exhibit B, as applicable,
has not been updated to reflect such adjustment). Subject to the preceding sentence, each Providing Party shall invoice the Receiving
Party on a monthly basis for (a) the Fees for the upcoming month for any Service identified by the Providing Party in writing as
a “Fixed Price Service,” and (b) the Fees for the prior month for any Service identified by the Providing Party in writing
as a “Variable Price Service.” The actual invoice date will be determined according to the Providing Party’s regular
business practices and systems capabilities. Subject to Section 3.6, the invoiced Fees of each Party shall, if practicable,
be netted against one another and the Party owing the greater amount shall pay the other Party in arrears in cash by wire transfer of
immediately available funds to such account or accounts designated by the other Party, the net of the invoiced Fees, netting such Fees
owed to the other Party against the Fees invoiced by the Party owing the greater amount, within thirty (30) days of the date both invoices
with respect to the applicable month have been provided (the “Payment Date”). With respect to the Initial Term, the
 “Payment Date” with respect to Corporate Services, unless adjusted pursuant to Section 2.1(c), Section 2.4(b),
Section 2.10, Section 3.1(c) or Section 3.1(d), shall be the last Business Day of each applicable
month in which a payment is due.

 

Section 3.5         Failure
to Make Payment. If payment in full in respect of any invoice is not received by the Providing Party from the Receiving Party by the
Payment Date (except for any amount in good faith disputed as provided in Section 3.6), the Providing Party shall have the
right, after giving forty-five (45) days’ prior written notice thereof to the Receiving Party, to suspend all or any portion of
the Services until such time as the Receiving Party has paid in full all amounts then overdue. After such payment in full is received,
the Providing Party shall promptly resume providing, or causing to be provided, the Services to the Receiving Party until the termination
of such Services or this Agreement in accordance with Article VIII, subject to (a) any further suspension in accordance
with this Section 3.5 or (b) earlier termination thereof in accordance with Section 8.1.

 

Section 3.6         Disputes
and Resolution. The Receiving Party shall promptly (and in any event within thirty (30) days following the receipt of the applicable
invoice or any audit performed in accordance with Section 3.7, or within thirty (30) days of the applicable month during the
Initial Term if the Receiving Party determines that any Fees should have been adjusted pursuant to Section 2.1(c), Section 2.4(b),
Section 2.10, Section 3.1(c) or Section 3.1(d)) notify the Providing Party in writing of any
amounts billed to it (or required to be paid by it) that are in dispute and reasonably detail the basis therefor. Upon receipt of such
notice, the Providing Party will research the items in question in a reasonably prompt manner and cooperate with the Receiving Party to
resolve any such dispute. The amount of Fees payable by the Receiving Party shall be reduced by the amount of any Fees disputed in accordance
with this Section 3.6, which disputed Fees shall be paid to the Providing Party within fifteen (15) days (or by the applicable
Payment Date, if such Payment Date has not yet passed) after settlement of such dispute to the extent owed to the Providing Party; provided
that any undisputed portion of such amount shall be included in the calculation of the amount due and paid in accordance with Section 3.4.
If any such Fees have already been paid by the Receiving Party to the Providing Party, the Providing Party shall promptly (and in any
event within fifteen (15) days) refund to the Receiving Party the amount of such overpayment or, at the option of the Receiving Party,
netted against future payments owed by the Receiving Party to the Providing Party pursuant to this Agreement.

 

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Section 3.7         Audit
Rights. During the term of this Agreement and for a six (6)-month period thereafter or such longer period as required by an applicable
Contract or under any applicable Law (including any competition Law, investment Law or Law relating to data privacy and protection),
and upon thirty (30) days’ advance written notice, either Party may audit (including through an independent third-party auditor),
during regular business hours, the books and records of the other Party pertaining to the Service in question. For any given Service,
either Party shall have the right to audit such books and records of the Providing Party once for each twelve (12)-month period during
which payment obligations are due with respect to such Service. The Party requesting an audit pursuant to this Section 3.7
shall be responsible for all costs of conducting such audit, and shall reimburse the other Party for any reasonable and documented out-of-pocket
costs and expenses incurred in connection with such audit; provided, that if the audit of any Business Unit Services during the
Initial Term or any Services following the Assessment Date reveals an overpayment by the Party requesting the audit in excess of ten
percent (10%) of the applicable Fees being audited, the other Party shall reimburse such initial Party for the reasonable and documented
out-of-pocket costs and expenses incurred in connection with such audit. Notwithstanding the foregoing, during the Initial Term, the
audit rights set forth in this Section 3.7 shall not apply to any Fees for Corporate Services except to the extent such Fees have
been adjusted pursuant to Section 2.1(c), Section 2.4(b), Section 2.10, Section 3.1(c) or
Section 3.1(d).

 

Section 3.8         Records.
Each Providing Party shall maintain records of all receipts, invoices, license usage reports and other documents relating to the Services
rendered under this Agreement, including the means of calculating the Fees billed to the Receiving Party hereunder, in accordance with
its standard, commercially reasonable, accounting practices and procedures. Each Providing Party shall retain such accounting records
and make them reasonably available to the Receiving Party and its auditors for a period of three (3) years from the close of each
fiscal year of such Receiving Party during which Services were provided. Each Providing Party will cooperate with the applicable Receiving
Party and its auditors, as reasonably requested by such Receiving Party, in connection with any such audit.

 

Section 3.9         Taxes.

 

(a)            The
Receiving Party agrees to pay to the Providing Party, or, to the extent permitted by applicable Law, directly to the relevant Governmental
Authority, amounts equal to any sales, use, value-added or other similar Taxes, however designated or levied, that are reasonably invoiced
by the Providing Party based upon any (i) Fees due under this Agreement, (ii) the provision of the Services or (iii) the
provision or use of materials provided under this Agreement, as provided to the Receiving Party by the Providing Party (such Taxes, “Covered
Taxes”). The Providing Party shall provide to the Receiving Party, on a timely basis, all statements, receipts and other customary
documentation in connection therewith reflecting such Covered Taxes, required to be delivered to the Receiving Party under applicable
Law. In addition, the Providing Party shall provide such other information reasonably requested by the Receiving Party that is necessary
for the Receiving Party to report such Covered Taxes on its Tax returns (including for purposes of claiming Tax deductions or Tax refunds).
To the extent any such Covered Taxes are paid to the Providing Party, the Providing Party shall timely pay such Covered Taxes to the
proper Governmental Authority and use commercially reasonable efforts to assist the Receiving Party, at the Receiving Party’s sole
cost and expense, in its efforts to obtain a credit for such Covered Taxes upon the reasonable request of the Receiving Party. If additional
Covered Taxes are determined to be due and payable as a result of an audit by a Tax jurisdiction, the Receiving Party agrees to reimburse
the Providing Party for such Covered Taxes to the extent that the Covered Taxes for which the Providing Party seeks reimbursement are
linked to specifically identified Services invoices that are subject to the imposition by such Tax jurisdiction of Covered Taxes. In
the event the Providing Party receives any credit, reduction or refund of Covered Taxes (a “Tax Benefit”), the Providing
Party shall promptly pay or credit the Receiving Party with an amount equal to such Tax Benefit to the extent the Receiving Party has
previously paid to the Providing Party, or to the relevant Governmental Authority, any such Taxes that are linked to specifically identified
Services invoices that are the subject of such Tax Benefit. The Parties shall cooperate in good faith in obtaining any lawful exemption,
refund, return, rebate or the like of any Covered Taxes, including filing any necessary exemption or other similar forms, certificates
or other similar documents to minimize or eliminate Covered Taxes to the extent permitted by applicable Law. The Parties further agree
that, for the avoidance of doubt, Covered Taxes shall not include any franchise Taxes, Taxes imposed on or measured by the gross or net
income of the other Party or personal or real property Taxes on property owned or leased by a Party.

 

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(b)            If
any withholding or deduction from any payment under this Agreement by the Receiving Party in relation to any Service is required in respect
of any Covered Taxes pursuant to any applicable Law, the Receiving Party shall (i) make any such required withholding or deduction
from the amount payable to the Providing Party, (ii) timely pay the withheld or deducted amount to the relevant Governmental Authority
and promptly forward to the Providing Party a withholding tax certificate or receipt evidencing that payment, and (iii) increase
the amount payable such that the Providing Party receives an amount equal to the sum it would have received had no such Covered Taxes
(taking into account, for the avoidance of doubt, any additional taxes applicable to additional sums payable under this Section 3.9(b))
been imposed, and the Receiving Party shall indemnify and hold harmless the Providing Party with respect thereto.

 

Article IV

 

DISCLAIMER
AND LIMITATION OF LIABILITY

 

Section 4.1         Disclaimer
of Warranties. EXCEPT AS SET FORTH IN SECTION 2.5 AND SECTION 2.6(e) (OR, IF
APPLICABLE, AS OTHERWISE EXPRESSLY SET FORTH IN ANY APPLICABLE EXHIBIT HERETO), NO PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES,
EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICES OR LICENSES TO BE PROVIDED BY IT OR OTHERWISE WITH RESPECT TO THIS AGREEMENT OR THE
MATTERS CONTEMPLATED HEREBY AND EACH PARTY ACKNOWLEDGES AND AGREES THAT THE SERVICES, ARDAGH NAME AND ARDAGH LOGO ARE PROVIDED “AS
IS,” WITHOUT WARRANTY OF ANY KIND, THAT THE RECEIVING PARTY AND, WITH RESPECT TO THE ARDAGH NAME AND ARDAGH LOGO, AMPSA, ASSUMES
ALL RISKS AND LIABILITY ARISING FROM OR RELATING TO ITS AND ITS AFFILIATES’ USE OF AND RELIANCE UPON THE SERVICES, THE ARDAGH NAME
AND THE ARDAGH LOGO, AS APPLICABLE, AND THAT THE PROVIDING PARTY AND, WITH RESPECT TO THE ARDAGH NAME AND ARDAGH LOGO, AGSA, DOES NOT
MAKE, AND (ON BEHALF OF ITSELF AND ITS AFFILIATES) HEREBY SPECIFICALLY DISCLAIMS, TO THE MAXIMUM EXTENT PERMITTED BY LAW, ANY REPRESENTATIONS
OR WARRANTIES, EXPRESS OR IMPLIED (INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF NON-INFRINGEMENT, SUFFICIENCY, QUALITY, USEFULNESS,
COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE
OF PERFORMANCE); PROVIDED, HOWEVER, THE FOREGOING SHALL NOT LIMIT EITHER PARTY’S EXPRESS OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING
WITH RESPECT TO THE SERVICE LEVEL STANDARDS AND EITHER PARTY’S INDEMNIFICATION OBLIGATIONS.

 

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Section 4.2         Limitation
of Liability.

 

(a)            Except
as may be otherwise expressly set forth in this Agreement and except for any Party’s fraud, gross negligence or willful misconduct,
no Party shall be liable for, or required to indemnify any other Person for, any consequential, special or punitive damages hereunder
(except to the extent actually awarded to a third party by a court of competent jurisdiction) due to, resulting from or arising in connection
with any of the Services or the performance of or failure to perform any of a Party’s respective obligations under this Agreement,
and no Party shall be liable to the other Party for an amount in excess of the amount paid for such Services, except in the case of death,
bodily injury, or damage to tangible property arising from a Party’s or its Affiliates’ fraud, gross negligence, willful
misconduct or intentional breach of this Agreement.

 

(b)            A
Receiving Party shall use commercially reasonable efforts to minimize its damages and those of any of its Affiliates, whether direct
or indirect, due to, resulting from or arising in connection with, any failure by a Providing Party to comply fully with its obligations
under this Agreement.

 

(c)            The
Parties acknowledge and agree that the Parties would be irreparably damaged if any of the provisions of this Agreement are not performed
in accordance with their specific terms or are otherwise breached and that any non-performance or breach of this Agreement by any Party
could not be adequately compensated by monetary damages alone and that the Parties would not have any adequate remedy at law. Accordingly,
in addition to any other right or remedy to which any Party may be entitled, at law or in equity (including monetary damages), such Party
shall be entitled to seek to enforce any provision of this Agreement by a decree of specific performance and to temporary, preliminary
and permanent injunctive relief to prevent breaches or threatened breaches of any of the provisions of this Agreement without posting
any bond or other undertaking. The Parties agree that they will not contest the appropriateness of specific performance as a remedy.

 

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Article V

 

INTELLECTUAL
PROPERTY

 

Section 5.1         Intellectual
Property.

 

(a)            Each
Party shall retain all right, title and interest in and to all Intellectual Property, and all software, source and object code, specifications,
designs, processes, techniques, concepts, improvements, discoveries and inventions (including any modifications, improvements, enhancements
or derivative works of any of the foregoing), in each case, owned or controlled by such Party and created, developed or conceived prior
to, or independently outside of performing any of the Services during, the term of this Agreement or any extension thereof (“Background
Intellectual Property”).

 

(b)            With
respect to all Intellectual Property rights in data and other Intellectual Property that is generated by the Providing Party in performing
a Service (“Foreground Intellectual Property”), as between the Parties, (i) the Receiving Party shall own all
such Foreground Intellectual Property to the extent it is exclusively used in and related to, in the case of AMPSA, the AMP Business
or, in the case of AGSA, the AGSA Retained Business and (ii) the Providing Party shall own all other such Foreground Intellectual
Property, including, for the avoidance of doubt, all improvements, modifications enhancements and derivative works created, developed
or conceived by or on behalf of such Providing Party to such Service. To the extent any right, title or interest in or to any Foreground
Intellectual Property designated to be owned by a Party pursuant to the foregoing sentence vests in the other Party or any of its Affiliates,
such other Party, on behalf of itself and such Affiliates, hereby irrevocably assigns to such first Party all such right, title and interest
in and to such Foreground Intellectual Property. Each Party shall take, and shall cause its Affiliates to take, all reasonable actions
requested by the other Party, at such other Party’s sole cost and expense, to effectuate or perfect such other Party’s ownership
of Foreground Intellectual Property as contemplated hereunder.

 

(c)            Without
prejudice to the foregoing, the Receiving Party hereby grants, under the Receiving Party’s Background Intellectual Property rights,
a non-exclusive, non-transferable (except in accordance with Section 9.6), non-sublicensable (except to service providers
of the Providing Party solely for use for the benefit of the Providing Party) license to the Providing Party to use the Background Intellectual
Property owned or licensable hereunder (without requiring consent of or payment to a Third Party) by the Receiving Party solely to the
extent necessary to enable the Providing Party to provide the Services in accordance with this Agreement during the term of the relevant
Services hereunder. Without prejudice to the foregoing, but subject to Section 2.4, the Providing Party hereby grants, under
the Providing Party’s Background Intellectual Property rights, a non-exclusive, non-transferable (except in accordance with Section 9.6),
non-sublicensable (except to service providers of the Receiving Party solely for use for the benefit of the Receiving Party) license
to the Receiving Party to use all Intellectual Property owned or licensable hereunder (without requiring consent of or payment to any
Third Party) by the Providing Party to enable the Receiving Party to receive and use the Services and the Deliverables. Solely for purposes
of the licenses granted in this Section 5.1(c), a Party’s Background Intellectual Property includes such Party’s
Foreground Intellectual Property discussed in Section 5.1(b). On expiry or termination of this Agreement, the foregoing licenses
shall automatically terminate; provided that, notwithstanding such expiry or termination of this Agreement or such termination
of the foregoing licenses, the Receiving Party shall continue to have the right, and the Providing Party shall not object to the Receiving
Party continuing, even after such expiry or termination, to use any documents, data or other tangible materials delivered to the Receiving
Party by the Providing Party in connection with any of the Services (including any information included in any of the foregoing) (the
 “Deliverables”), unless required to do so by any Third Party that has the right and authority to require such Providing
Party to so object.

 

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Section 5.2         Ardagh
Name License.

 

(a)           Subject
to the terms and conditions of this Agreement (including Exhibit D), effective as of the date hereof and lasting for the
period set forth in Section 5.2(e), AGSA hereby grants to AMPSA and each of the other AMP Entities a worldwide, non-exclusive,
non-sublicensable (except as set forth in this Section 5.2) indivisible and revocable (pursuant to Article VIII)
license (the “Ardagh Name License”) to use the Ardagh Name (as that term is defined in Exhibit D) solely
as a part of AMPSA’s corporate name or the corporate name of any other AMP Entity, and such corporate name or names (including
the Ardagh Name) may be used (i) as Internet domain names or as part of Internet domain names, (ii) on or in relation to any
products and services supplied by any AMP Entity from time to time, or (iii) otherwise in the course of the conduct or operation
of the AMP Business (including on, in connection with or in relation to any products and services of the AMP Business), subject in each
such case to the terms of this Agreement. The Fees payable for Corporate Services during the Initial Term pursuant to Section 3.1
are inclusive of the entire consideration due in respect of the Ardagh Name License.

 

(b)           The
AMP Entities may grant sublicenses to their respective suppliers, vendors, distributors, sub-distributors, resellers, marketing representatives
and agents (collectively, “Permitted Sublicensees”) for their respective use of any of the AMP Entities’ corporate
names (including the Ardagh Name) and solely for the uses set forth in Section 5.2(a) in connection with the conduct
or operation of the AMP Business. Any such sublicense shall be subject to the terms and conditions of this Agreement.

 

(c)            None
of the AMP Entities may assign the Ardagh Name License or grant any sublicense of its rights under it (other than as set forth in Section 5.2(b))
without the prior written consent of AGSA. Each of the AMP Entities shall be responsible hereunder for all actions of its sublicensees
as if such actions were the actions of such AMP Entity.

 

(d)            For
the avoidance of doubt, nothing in this Agreement shall prevent AGSA from using, and sublicensing or otherwise permitting others to use,
the Ardagh Name in any way whatsoever.

 

(e)            Unless
earlier terminated in accordance with Article VIII, the Ardagh Name License shall commence as of the date of this Agreement
and shall remain in effect until the later of (i) the date that is the fourth (4th) anniversary of the date of this Agreement and
(ii) (A) with respect to AMPSA, the date that AMPSA is no longer a Subsidiary of AGSA and (B) with respect to each Subsidiary
of AMPSA, the date that is the earlier of (1) AMPSA no longer being a Subsidiary of AGSA or (2) such Subsidiary no longer being
a Subsidiary of AMPSA.

 

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Section 5.3         Transitional
License. Subject to the terms and conditions of this Agreement (including Exhibit D) and without limiting the
license or any rights granted to AMPSA and each of the other AMP Entities under Section 5.2 with respect to the Ardagh
Name, effective as of the date hereof, AGSA hereby grants to AMPSA and each of the other AMP Entities a worldwide, non-sublicensable
(except as set forth in this Section 5.3), indivisible license to, for a period of twelve (12) months after the date
hereof unless an extension is agreed to by AGSA (and AGSA hereby acknowledges and agrees that (i) its agreement to an extension
shall not be unreasonably withheld and (ii) an extension for a period of twelve (12) months shall not be considered
unreasonable), continue to use, and continue to permit its and their respective suppliers, vendors, distributors, sub-distributors,
resellers, marketing representatives, agents and other Persons (the “Transitional Sublicensees”) to use, the
Ardagh Name and the following logo:  (the “Ardagh Logo”) (including
the Ardagh Name and the Ardagh Logo in combination) solely for uses generally consistent with the uses (including with respect to
quality of goods and services and, with respect to the Transitional Sublicensees, solely for the benefit of the AMP Business and
generally consistent with the current uses by such Persons), as applicable, of the Ardagh Name and Ardagh Logo (including in
combination) in connection with the AMP Business as of the date of this Agreement (including uses on, in connection with or in
relation to any products and services of the AMP Business) (the “Transitional License”). AMPSA shall, and shall
cause the other AMP Entities and the Transitional Sublicensees, to use commercially reasonable efforts to transition the AMP
Business reasonably promptly away from any uses by the AMP Business of the Ardagh Name and the Ardagh Logo (including in
combination) that are not within the scope of the Ardagh Name License. The Fees payable for Corporate Services during the Initial
Term pursuant to Section 3.1 are inclusive of the entire consideration due in respect of the Transitional
License.

 

Article VI

 

CONFIDENTIALITY

 

Section 6.1         Specified
Confidentiality Matters. The Parties acknowledge and agree that, with respect to any Services of a legal nature to be provided by
employees of a Providing Party that are attorneys, the attorney-client privilege, attorney work-product protection and expectation of
client confidence involving (a) general business matters of the Providing Party and arising prior to the provision of Services in
accordance with Article II shall inure for the benefit of the Providing Party, and the Receiving Party and its Affiliates
shall not have the right to assert any privilege or protection and no such privilege or protection may be waived by the Receiving Party
and its Affiliates without the prior written consent of the Providing Party; provided that upon receipt of a disclosure request,
the Receiving Party shall notify the Providing Party promptly in writing of the terms and circumstances surrounding the disclosure request
so that the Providing Party may seek a protective order or other remedy, and (b) any general business matters relating to the Receiving
Party and arising during or following the provision of Services in accordance with Article II shall be subject to the sole
control of the Receiving Party, which shall be solely entitled to control the assertion or waiver of the privilege or protection, whether
or not such information is in the possession or under the control of the Providing Party, the Receiving Party or any of their respective
Affiliates. Each of the Parties agrees to waive, and to obtain a waiver from each of its Affiliates, any conflicts of interest between
the Providing Party and the Receiving Party that would otherwise give such Party or its Affiliates a basis on which to object to any
Services of a legal nature to be provided hereunder.

 

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Article VII

 

INDEMNIFICATION

 

Section 7.1         Indemnification
by Receiving Party. The Receiving Party shall indemnify, defend and hold harmless the Providing Party, its Affiliates, their respective
successors and permitted assigns and the Representatives of each of the foregoing (collectively, the “Provider Indemnitees”),
from and against any and all direct costs incurred by the Provider Indemnitees due to (a) the Receiving Party’s gross negligence
or willful misconduct or (b) Third Party Claims arising out of, resulting from or incident to, directly or indirectly, the Providing
Party providing Services hereunder, other than Third Party Claims arising out of, resulting from or incident to, directly or indirectly,
(i) the gross negligence or willful misconduct of any Provider Indemnitee or any Third Party or independent contractor providing
Services on behalf of the Providing Party hereunder, (ii) any breach of this Agreement by any Provider Indemnitee, (iii) any
Provider Indemnitee’s failure to timely remit amounts received from the Receiving Party to the Third Party that provided such Services
hereunder or (iv) any infringement, misappropriation or other violation of any Intellectual Property of any Third Party by the Receiving
Party as a result of the Receiving Party’s or any member of its Group’s receipt or use of any Services (including any Deliverables,
but excluding the Ardagh Name License and the Transitional License (which are addressed in Section 7.3)) or of any information
or materials provided or made available to or accessible by any Provider Indemnitee to the Receiving Party hereunder, except to the extent
such infringement, misappropriation or other violation results from the use of any information or materials provided, or instructions
or directions given, by or on behalf of the Receiving Party. Nothing in this Article VII regarding indemnification rights
and obligations shall be deemed to override any obligations with respect to mitigation of losses existing under applicable Law.

 

Section 7.2         Indemnification
by the Providing Party. The Providing Party shall indemnify, defend and hold harmless the Receiving Party, its Affiliates, their
respective successors and permitted assigns and the Representatives of each of the foregoing (collectively, the “Receiver Indemnitees”)
from and against any and all direct costs incurred by the Receiver Indemnitees due to (a) the Providing Party’s gross negligence
or willful misconduct, (b) Third Party Claims arising out of, resulting from or incident to, directly or indirectly, the material
breach by the Providing Party of any of its obligations under this Agreement or the gross negligence or willful misconduct of the Providing
Party, (c) the Providing Party’s failure to pay wages and benefits to personnel assigned to perform Services under this Agreement
or (d) any infringement, misappropriation or other violation of any Intellectual Property of any Third Party by the Providing Party
as a result of the Providing Party’s provision of (or causing to provide) any Services (including any Deliverables, but excluding
the Ardagh Name License and the Transitional License (which are addressed in Section 7.3)) to the Receiver Indemnitees hereunder
or of any information or materials provided or made available to or accessible by the Providing Party to the Receiver Indemnitees hereunder,
except to the extent such infringement, misappropriation or other violation results from the use of any information or materials provided,
or instructions or directions given, by or on behalf of the Receiving Party. Nothing in this Article VII regarding indemnification
rights and obligations shall be deemed to override any obligations with respect to mitigation of losses existing under applicable Law
or Section 4.2(b).

 

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Section 7.3         Indemnification
Regarding Ardagh Name and Ardagh Logo. AMPSA shall indemnify, defend and hold harmless the AGSA Entities, their respective successors
and the Representatives of each of the foregoing (collectively, the “AGSA Indemnitees”) from and against any and all
direct costs incurred by the AGSA Indemnitees due to any claim or action resulting from the use of the Ardagh Name or Ardagh Logo by
or on behalf of any AMP Entity, including such use on or in connection with the products or services supplied by any AMP Entity (including
product liability claims with respect to such products), excluding any claim or action to the extent alleging that the Ardagh Name or
Ardagh Logo infringes, misappropriates, dilutes or otherwise violates any Intellectual Property of any Third Party. Nothing in this paragraph
regarding indemnification rights and obligations shall be deemed to override any obligations with respect to mitigation of losses existing
under applicable Law.

 

Section 7.4         Procedures
for Indemnification.

 

(a)            Any
Person seeking any indemnification under this Article VII (an “Indemnified Party”), acting through AGSA
or AMPSA, as applicable, shall give the Party from which indemnification is being sought (an “Indemnifying Party”)
prompt notice (a “Claim Notice”) of any matter which such Indemnified Party has determined has given or could give
rise to a right of indemnification under this Article VII; provided, however, that if an Indemnified Party
shall receive written notice of any Third Party Claim, the Indemnified Party shall give the Indemnifying Party a Claim Notice within
twenty (20) days after receipt by the Indemnified Party of such notice. The Claim Notice shall (i) indicate whether the matter for
which indemnification is sought (an “Indemnity Claim”) results from or arises out of a Third Party claim (a “Third
Party Claim”) or a direct claim, (ii) describe with reasonable specificity the nature of the Indemnity Claim and (iii) state
the amount of direct costs sought pursuant to such Indemnity Claim to the extent then known. The failure to deliver or timely deliver
the Claim Notice shall not affect the rights of the Indemnified Party to indemnification under this Article VII, except and
only to the extent that the Indemnifying Party shall have been actually and materially prejudiced by reason of such failure.

 

(b)            Third
Party Claims.

 

(i)            The
Indemnifying Party shall have the right to conduct, at its sole cost and expense, the defense of a Third Party Claim, upon delivery of
written notice to the Indemnified Party (the “Defense Notice”) within twenty (20) days after the Indemnifying Party’s
receipt of the Claim Notice (or sooner if the nature of the Third Party Claim so requires); provided that the Defense Notice shall
specify the counsel the Indemnifying Party will appoint to defend such Third Party Claim (such counsel to be reasonably satisfactory
to the Indemnified Party). The Indemnified Party shall be entitled to be indemnified in accordance with the terms of this Agreement for
the reasonable fees and expenses of counsel for any period during which the Indemnifying Party has not assumed the defense of any such
Third Party Claim in accordance herewith. If the Indemnifying Party timely delivers a Defense Notice and thereby elects to conduct the
defense of the Third Party Claim, (A) the Indemnifying Party shall keep the Indemnified Party apprised of all material developments
with respect to such Third Party Claim and (B) the Indemnified Party will cooperate with and make available to the Indemnifying
Party such assistance and materials as the Indemnifying Party may reasonably request, all at the sole expense of the Indemnifying Party,
and the Indemnified Party shall have the right at its expense to participate in the defense assisted by counsel of its own choosing.

 

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(ii)            The
Indemnifying Party shall not be entitled to control the defense of any Third Party Claim if (A) such Third Party Claim is with respect
to a criminal proceeding, action, indictment, allegation or investigation, (B) it fails to actively and diligently conduct its defense
of such Third Party Claim, (C) the Indemnified Party has been advised by counsel that a reasonable likelihood exists of a material
conflict of interest between the Indemnifying Party and the Indemnified Party with respect to such Third Party Claim or (D) such
Third Party Claim seeks an injunction or other equitable relief against the Indemnified Party. In the event of any of the foregoing circumstances
and the Indemnified Party has nonetheless permitted the Indemnifying Party to control the defense of such Third Party Claim, and the
Indemnifying Party desires to so control such defense, the Indemnified Party shall be entitled to retain its own counsel, and the Indemnifying
Party shall pay the reasonable and documented fees and expenses of one counsel (in addition to any required local counsel) of the Indemnified
Party.

 

(iii)           The
Indemnifying Party shall not, without the prior written consent of the Indemnified Party, (A) settle or compromise a Third Party
Claim or consent to the entry of any order which does not include an unconditional written release by the claimant or plaintiff of the
Indemnified Party from all liability in respect of the Third Party Claim, (B) settle or compromise any Third Party Claim if the
settlement imposes equitable or other non-monetary remedies or other obligations on the Indemnified Party or (C) settle or compromise
any Third Party Claim if the result is to admit civil or criminal liability or culpability on the part of the Indemnified Party that
gives rise to criminal liability with respect to the Indemnified Party. No Third Party Claim which is being defended by the Indemnifying
Party in accordance with the terms of this Agreement shall be settled or compromised by the Indemnified Party without the prior written
consent of the Indemnifying Party (such consent not to be unreasonably conditioned, withheld or delayed).

 

Article VIII

 

TERM
AND TERMINATION

 

Section 8.1         Term;
Termination of Services.

 

(a)            As
provided in Section 3.1(a), the Initial Term of this Agreement shall terminate on the Assessment Date. Thereafter, subject
to the other provisions of this Section 8.1, this Agreement shall automatically renew for additional one (1) year terms
from such date unless (i) the Parties otherwise mutually agree in writing or (ii) a Party delivers a Termination Notice in
accordance with Section 8.1(d), Section 8.1(e) or Section 8.1(f). Subject to Section 8.3,
this Agreement shall automatically terminate on the date all Services have been terminated in accordance with this Section 8.1.

 

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(b)            Notwithstanding
anything to the contrary herein, if there is a Change of Control of AMPSA during the Initial Term, (i) AGSA may terminate all or
any portion of this Agreement by providing not less than nine (9) months prior written notice to AMPSA and (ii)  the date
on which such Change of Control of AMPSA is consummated shall automatically be deemed to be the Assessment Date for purposes of Article III.
As used herein, “Change of Control of AMPSA” means any of the following events: (A) the consummation of any transaction,
or series of related transactions (including a merger or consolidation), the result of which is that any Person or group of related Persons
or Persons acting in concert with each other, other than one or more AGSA Entities, is, or as a result of such transaction becomes, the
beneficial owner, directly or indirectly, of more than fifty percent (50)% of the voting stock of AMPSA; (B) the sale, transfer,
conveyance or other disposition, whether in one transaction or a series of related transactions, of all or substantially all of the assets
of (including capital stock owned by) the AMP Entities, on a consolidated basis, to any Person or group of related Persons or Persons
acting in concert with each other, other than the AGSA Entities; or (C) AMPSA is liquidated or dissolved or adopts a plan of liquidation
or dissolution (other than in connection with any internal restructuring that does not change the ultimate beneficial ownership of AMPSA)
or files any voluntary or involuntary petition under any bankruptcy Law. Notwithstanding anything to the contrary in this Agreement,
AGSA shall not have the right to terminate the Ardagh Name License pursuant to this Section 8.1(b) until the date that
is the fourth (4th) anniversary of the date of this Agreement.

 

(c)            Notwithstanding
anything to the contrary herein, if there is a Change of Control of AGSA during the Initial Term, (i) AMPSA may terminate all or
any portion of this Agreement by providing not less than nine (9) months prior written notice to AGSA and (ii) the date on
which such Change of Control of AGSA is consummated shall automatically be deemed to be the Assessment Date for purposes of Article III.
As used herein, “Change of Control of AGSA” means any of the following events: (A) the consummation of any transaction,
or series of related transactions (including a merger or consolidation), the result of which is that any Person or group of related Persons
or Persons acting in concert with each other, other than one or more Permitted Holders, is, or as a result of such transaction becomes,
the beneficial owner, directly or indirectly, of more than fifty percent (50)% of the voting stock of AGSA; (B) the sale, transfer,
conveyance or other disposition, whether in one transaction or a series of related transactions, of all or substantially all of the assets
of (including capital stock owned by) the AGSA Entities, on a consolidated basis, to any Person or group of related Persons or Persons
acting in concert with each other, other than the Permitted Holders; or (C) AGSA is liquidated or dissolved or adopts a plan of
liquidation or dissolution (other than in connection with any internal restructuring that does not change the ultimate beneficial ownership
of AGSA) or files any voluntary or involuntary petition under any bankruptcy Law.

 

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(d)           The
Receiving Party may terminate its right to receive any particular Service with an effective Termination Date during the Initial Term,
with the prior written consent of the Providing Party (not to be unreasonably withheld, conditioned or delayed), and on no less than
nine (9) months prior written notice (or such longer notice as may be required by Law) (such notice, or any notice to terminate
this Agreement as provided herein, the “Termination Notice”), setting forth in reasonable detail the Services to be
terminated (the “Terminated Services”) and the Termination Date for each Terminated Service; provided that
in the event of any material increase of the Fees of any Corporate Service pursuant to Section 3.1(d), the Receiving Party
may terminate the applicable Services pursuant to this Section 8.1(d) without the prior written consent of the Providing
Party.

 

(e)           Either
Party may terminate this Agreement or its obligation to provide or receive any particular Service, for any or no reason, effective no
earlier than the Assessment Date, by providing the other Party a Termination Notice not fewer than nine (9) months prior to the
Termination Date, which notice will, if one or more Services are being terminated, set forth in reasonable detail the Terminated Services
and the Termination Date for each Terminated Service. Notwithstanding anything to the contrary in this Agreement, AGSA shall not have
the right to terminate the Ardagh Name License pursuant to this Section 8.1(e).

 

(f)            If
a Party materially breaches any of its obligations under this Agreement, and, if such breach is curable, does not cure such breach within
sixty (60) days after receiving written notice thereof from the non-breaching Party, then the non-breaching Party may, at its option,
terminate any Service affected by such breach by providing a Termination Notice to the breaching Party effective as of the tenth (10th)
day following the date of such notice; provided that if such breach is a material breach by AMPSA of any of its obligations under
this Agreement with respect to the Ardagh Name or Ardagh Logo, the Ardagh Name License and Transitional License, as applicable, shall
terminate effective as of the date of delivery of the Termination Notice therefor.

 

(g)           This
Agreement and any Service may be terminated by mutual consent of the Parties in writing at any time.

 

(h)           From
and after the Termination Date, the Receiving Party shall not be obligated to pay any Fees in connection with any validly Terminated
Services other than (i) Fees owed for such Terminated Services rendered but not paid for prior to the Termination Date and (ii) any
Third Party costs incurred by the Providing Party in connection with the termination of such Terminated Services, solely to the extent
such Third Party costs would not have otherwise been incurred but for the requirement or request to provide Services to the Receiving
Party. Upon the termination of any Services hereunder, the Parties will in good faith discuss and agree on an appropriate adjustment
to the Fees to reflect that such Service is no longer being provided.

 

Section 8.2         Migration
Plan; Transition Assistance.

 

(a)            Upon
the termination of any Services by the Receiving Party, the Receiving Party shall, to the extent the Receiving Party desires to migrate
such Terminated Services from the Providing Party to the Receiving Party’s Group, develop a migration plan, which shall be in form
reasonably satisfactory to the Providing Party, no later than ninety (90) days prior to the applicable Termination Date on a migration
plan to facilitate an orderly and efficient transition of such Terminated Services (the “Migration Plan”). The Migration
Plan shall set forth the responsibilities of each of the Parties in sufficient detail to provide each Party a clear transition roadmap
at a functional level, and each Party shall appoint a migration manager to oversee the Migration Plan’s development and execution.

 

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(b)            The
Providing Party shall reasonably cooperate with the Receiving Party (including responding to any reasonable inquiries by the Receiving
Party) to facilitate the transfer of responsibility for such Terminated Service from the Providing Party to the Receiving Party (or its
designee) as of the applicable Termination Date. If requested by the Receiving Party, subject to applicable Law, the Providing Party
will provide reasonable cooperation and use commercially reasonable efforts to assist the Receiving Party in accomplishing an orderly
transition, as of the applicable Termination Date, to the Receiving Party or an alternative provider of the applicable Terminated Services,
including, to the extent reasonably necessary in connection therewith, providing, upon reasonable advance notice, reasonable access during
normal business hours to the Providing Party’s applicable books, records, systems, facilities and employees; provided that
in the event the Providing Party determines in its reasonable discretion that affording any such access to the Receiving Party would
be commercially detrimental in any material respect or violate any applicable Law or agreement to which the Providing Party or any of
its Affiliates is a party, or waive or result in the waiver of any attorney-client privilege applicable to the Providing Party or any
of its Affiliates, the Parties shall take such steps as are reasonably necessary to permit the Providing Party’s compliance with
such request in a manner that avoids any such detriment, harm or consequence.

 

(c)            The
Providing Party shall, upon the reasonable request of the Receiving Party, use commercially reasonable efforts to cooperate with the
Receiving Party to support any transfer of data concerning the relevant Terminated Services to the Receiving Party; provided that
the Providing Party shall bear the fees, costs and expenses associated with the extraction and transfer of such data to the Receiving
Party, and the Receiving Party shall bear the fees, costs and expenses associated with the receipt and any transformation and remediation
of such data (including any transformation or remediation requested by the Receiving Party prior to extraction and transfer). Subject
to Article V and Article VI, if reasonably requested by the Receiving Party, the Providing Party shall deliver,
or cause to be delivered, to the Receiving Party, within such time periods as the Parties may reasonably agree, all records, data, files
and other information received or generated for the primary benefit of the Receiving Party in connection with the provision of such Terminated
Services; provided, however, that the Providing Party (i) shall not be obligated to deliver, or cause to be delivered,
any information that is proprietary or privileged or subject to any restrictions on disclosure or use arising from any legal, contractual
or fiduciary obligation of the Providing Party and (ii) may retain a copy of any such records, data, files or other information
to the extent required by applicable Law, consistent with its existing record retention policies and related to its own business, assets
or liabilities.

 

Section 8.3         Survival.
Articles I (Definitions), III (Fees and Payment), IV (Disclaimer and Limitation of Liability), V
(Intellectual Property), VI (Confidentiality), VII (Indemnification), VIII (Term and Termination) and IX
(Miscellaneous) shall survive the expiration or any termination of this Agreement. Subject to applicable Law and the relevant statute
of limitations, the indemnification obligations of the Parties set forth in Article VII (Indemnification) shall expire six
(6) months after the termination of this Agreement. Notwithstanding the foregoing, in the event of any termination with respect
to one or more, but less than all of the Services, this Agreement shall continue in full force and effect with respect to any Services
not terminated hereby.

 

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Article IX

 

MISCELLANEOUS

 

Section 9.1         Notices.
All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made by delivery
in person, by e-mail or other means of wire transmission, and by internationally recognized courier service, and shall become effective:
(a) on delivery if given in person; (b) on the date of transmission if sent by email or other means of wire transmission (provided
no “bounceback” or other notice of nondelivery is received); or (c) two (2) Business Days after delivery to the
courier service. Notices shall be given to the respective Parties at the following addresses (or at such other address for a Party as
shall be specified in a notice given in accordance with this Section 9.1).

 

If
to AGSA, to:

 

56, Rue Charles Martel

L-2134 Luxembourg

Luxembourg

	Attention:	Hermanus Troskie
	 	Torsten Schoen
	Email:	herman.troskie@maitlandgroup.com
	 	torsten.schoen@ardaghgroup.com

 

If
to AMPSA, to:

 

56, Rue Charles Martel

L-2134 Luxembourg

Luxembourg

	Attention:	Oliver Graham
	 	David Bourne
	Email:	oliver.graham@ardaghgroup.com
	 	david.bourne@ardaghgroup.com

 

Section 9.2         Interpretation.
The Parties have participated jointly in negotiating and drafting this Agreement. If an ambiguity or a question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring
or disfavoring any Party by virtue of the authorship of any provision of this Agreement. Whenever the words “include”, “includes”
or “including” are used in this Agreement they shall be deemed to be followed by the words “without limitation.”
Words in the singular form will be construed to include the plural and vice versa, unless the context requires otherwise. Reference to
any Law means such Law as amended, modified, codified, replaced or re-enacted, in whole or in part, from time to time, including rules,
regulations, enforcement procedures and any interpretations promulgated thereunder. Underscored references to Articles, Sections, clauses
or Exhibits shall refer to those portions of this Agreement, and any underscored references to a clause shall, unless otherwise identified,
refer to the appropriate clause within the same Section in which such reference occurs. The table of contents and headings for this
Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement. The use of the
terms “hereunder”, “hereof”, “hereto” and words of similar import shall refer to this Agreement as
a whole and not to any particular Article, Section or clause of or Exhibit to this Agreement. The word “or” is
not exclusive and is deemed to have the meaning “and/or” unless expressly indicated otherwise. Any reference to “days”
means calendar days unless Business Days are expressly specified. When calculating the period of time before which, within which or following
which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period
shall be excluded, and if the last day of such period is not a Business Day, the period shall end on the immediately following Business
Day. References to “writing”, “written” and comparable terms refer to printing, typing and other means of reproducing
words (including electronic media) in a visible form. References to a Person are also to its successors and permitted assigns.

 

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Section 9.3         Execution
in Counterparts. This Agreement may be executed in multiple counterparts, each of which when executed and delivered shall thereby
be deemed to be an original and all of which taken together shall constitute one and the same instrument. Any Party may execute and deliver
signed counterparts of this Agreement to the other Party by electronic mail or other electronic transmission in portable document format
(.PDF).

 

Section 9.4         Entire
Agreement. This Agreement (including the Exhibits hereto) and the other agreements specifically referenced herein, when executed,
and any other instrument delivered in connection herewith or therewith embodies the entire agreement and understanding among the Parties
with respect to the subject matter hereof and thereof, and supersedes any agreements, representations, warranties or understandings,
oral or written, among the Parties entered into prior to the date hereof. Each Exhibit attached hereto or referenced herein is hereby
incorporated into and shall form a part of this Agreement by reference; provided that the terms contained in any Exhibit shall
only apply with respect to the Services provided under such Exhibit. In the event of a conflict between the terms contained in an individual
Exhibit and the terms in the body of this Agreement, the terms in this Agreement shall control.

 

Section 9.5         Severability.
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this
Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree
will remain in full force and effect to the extent not held invalid or unenforceable.

 

Section 9.6         Assignment.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by a Party (whether by operation of
law or otherwise) without the prior written consent of the other Party, and any attempt to make any purported assignment or other transfer
without such consent shall be void and unenforceable. Except for Article VII which is intended to benefit, and to be enforceable
by, the parties specified therein, this Agreement shall be binding upon and inure solely to the benefit of each Party and, subject to
the foregoing sentence, their respective permitted successors and assigns, and nothing in this Agreement, express or implied, is intended
to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
Nothing in this Section 9.6 shall limit the right of any Party to provide, subject to the terms of this Agreement, any applicable
Services through a Third Party pursuant to Section 2.3 or a subcontractor pursuant to Section 2.6(b).

 

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Section 9.7      Amendment.
This Agreement may be amended, supplemented or restated only by a written agreement executed by each of the Parties.

 

Section 9.8      Waiver.
The failure of any Party to enforce any condition or part of this Agreement at any time shall not be construed as a waiver of that condition
or part, nor shall it forfeit any rights to future enforcement thereof. Any waiver hereunder shall be effective only if delivered to
the other Parties in writing by the Party making such waiver.

 

Section 9.9      Governing
Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement shall be governed
by, and construed in accordance with, the Laws of the Grand Duchy of Luxembourg. Any Action arising in connection with this Agreement
shall be submitted to the jurisdiction of the courts of Luxembourg City.

 

[Signature page follows]

 

    30

     

    

 

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

 

 

	 	ARDAGH
    GROUP S.A.
	 	 
	 	 
	 	By:	/s/
    Hermanus Troskie
	 	 	Name: Hermanus
    Troskie
	 	 	Title: Director

 

 

	 	ARDAGH METAL PACKAGING S.A.
	 	 
	 	 
	 	By:	/s/ Yves Elsen
	 	 	Name: Yves Elsen
	 	 	Title: Director

 

[Signature Page to Services Agreement]

 

    

     

    

 

Exhibit A

 

AGSA
Services

 

    Exhibit A-1

     

    

 

Exhibit B

 

AMPSA
Services

 

    Exhibit B-1

     

    

 

Exhibit C

 

Shared Space Leases

 

    Exhibit C-1

     

    

 

Exhibit D

 

Ardagh Name License

 

    Exhibit D-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]