Document:

Form of Sixth Amended and Restated Agreement of Limited Partnership

 Exhibit 10.36 
 FORM OF SIXTH AMENDED AND RESTATED 
 AGREEMENT OF
LIMITED PARTNERSHIP 
 OF 
 GRAHAM PACKAGING HOLDINGS COMPANY 
 DATED AS OF
[            ], 2010 
 THE PARTNERSHIP UNITS OF GRAHAM PACKAGING
HOLDINGS COMPANY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE SECURITIES LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND SUCH LAWS. SUCH UNITS MUST BE ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY
APPLICABLE STATE SECURITIES LAWS, AND ANY OTHER APPLICABLE SECURITIES LAWS; AND (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT. THE UNITS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS
AND THIS AGREEMENT OF LIMITED PARTNERSHIP. THEREFORE, PURCHASERS OF SUCH UNITS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	
	 ARTICLE 1
  
 THE LIMITED PARTNERSHIP

			
	 1.1
	  	Prior Formation, Recapitalization, Redemption and Contribution	  	1
	 1.2
	  	Certificate of Limited Partnership	  	2
	 1.3
	  	Name	  	2
	 1.4
	  	Character of Business	  	2
	 1.5
	  	Principal Offices	  	2
	 1.6
	  	Fiscal Year	  	2
	 1.7
	  	Accounting Matters	  	2
	
	ARTICLE 2
	
	DEFINITIONS
			
	 2.1
	  	Act	  	3
	 2.2
	  	Affiliate	  	3
	 2.3
	  	Agreement	  	3
	 2.4
	  	Auditor	  	3
	 2.5
	  	Available Cash	  	3
	 2.6
	  	Bankruptcy	  	3
	 2.7
	  	Capital Account	  	4
	 2.8
	  	Catch Up Amount	  	4
	 2.9
	  	Certificate	  	4
	 2.10
	  	Class	  	4
	 2.11
	  	Code	  	4
	 2.12
	  	Common Stock	  	4
	 2.13
	  	DCG	  	4
	 2.14
	  	Depreciation	  	4
	 2.15
	  	Effective Date	  	4
	 2.16
	  	Exchange Act	  	4
	 2.17
	  	Exchange Agreement	  	5
	 2.18
	  	Exchange Transaction	  	5
	 2.19
	  	Event of Withdrawal	  	5
	 2.20
	  	General Partner	  	5
	 2.21
	  	Generally Accepted Accounting Principles	  	5

					
	 	  	 	  	Page
	2.22	  	GP Corp	  	5
	2.23	  	GPC Partners	  	5
	2.24	  	Graham Partners	  	5
	2.25	  	Graham Partners Excess Distribution Amount	  	5
	2.26	  	Gross Asset Value	  	5
	2.27	  	Limited Partner	  	6
	2.28	  	Opco	  	6
	2.29	  	Opco Partnership Agreement	  	6
	2.30	  	Original Agreement	  	6
	2.31	  	Partner	  	6
	2.32	  	Partnership	  	6
	2.33	  	Partnership Interest	  	6
	2.34	  	Partnership Year	  	6
	2.35	  	Percentage Interest	  	6
	2.36	  	Person	  	6
	2.37	  	Profits and Losses	  	7
	2.38	  	Recapitalization Agreement	  	7
	2.39	  	Regulations or Treas. Reg.	  	7
	2.40	  	Return Amount	  	7
	2.41	  	Securities Act	  	7
	2.42	  	Transfer	  	8
	2.43	  	Units	  	8
	2.44	  	General Provisions	  	8
	
	ARTICLE 3
	
	CAPITAL ACCOUNTS
			
	3.1	  	Capital Accounts	  	8
	3.2	  	Negative Capital Accounts	  	8
	3.3	  	Compliance with Treasury Regulations	  	8
	3.4	  	Succession to Capital Accounts	  	8
	3.5	  	Certain Adjustments	  	9
	3.6	  	No Withdrawal of Capital Contributions	  	9
	3.7	  	Other Payments	  	9
	
	ARTICLE 4
	
	PARTNERSHIP UNITS
			
	4.1	  	Partnership Interests	  	9
	4.2	  	Register	  	10

					
	 	  	 	  	Page
	 4.3
	  	Splits, Distributions and Reclassifications	  	10
	 4.4
	  	Cancellation of Common Stock and Units	  	10
	 4.5
	  	Incentive Plans	  	10
	 4.6
	  	Offerings of Common Stock	  	10
	 4.7
	  	Registered Partners	  	11
	
	ARTICLE 5
	
	DISTRIBUTIONS; PARTNERSHIP ALLOCATIONS; TAX MATTERS
			
	 5.1
	  	Distributions Prior to Dissolution	  	11
	 5.2
	  	Partnership Allocations	  	12
	 5.3
	  	Tax Allocations; Code Section 704(c)	  	14
	 5.4
	  	Accounting Method	  	14
	 5.5
	  	Withholding	  	14
	 5.6
	  	Tax Treatment of Return Amounts	  	15
	 5.7
	  	Distribution by Opco	  	15
	
	ARTICLE 6
	
	MANAGEMENT
			
	 6.1
	  	Rights and Duties of the Partners	  	15
	 6.2
	  	Duty of General Partner	  	15
	 6.3
	  	Powers of General Partner	  	15
	 6.4
	  	Restrictions on General Partner Authority	  	18
	 6.5
	  	Compensation	  	18
	 6.6
	  	Other Activities	  	18
	
	ARTICLE 7
	
	COSTS AND EXPENSES AND COMPENSATION
	
	ARTICLE 8
	
	ACCOUNTS
	 8.1
	  	Books and Records	  	19
	 8.2
	  	Reports, Returns and Audits	  	19

					
	 	  	 	  	Page
	ARTICLE 9
	
	TRANSFERS
			
	 9.1
	  	Transfer of a Limited Partner’s Interest	  	20
	 9.2
	  	Allocation of Distributions Subsequent to Assignment	  	20
	 9.3
	  	Death, Incompetence, Bankruptcy, Liquidation or Withdrawal of a Limited Partner	  	20
	 9.4
	  	Permitted Transfers of Graham Partners	  	21
	 9.5
	  	Satisfactory Written Assignment Required	  	22
	 9.6
	  	Transferee’s Rights	  	22
	 9.7
	  	Transferees Admitted as Partners	  	22
	 9.8
	  	Additional Restrictions on Transfer	  	22
	
	ARTICLE 10
	
	DISSOLUTION
			
	 10.1
	  	Events of Dissolution	  	23
	 10.2
	  	Final Accounting	  	24
	 10.3
	  	Liquidation	  	24
	 10.4
	  	Cancellation of Certificate	  	24
	
	ARTICLE 11
	
	AMENDMENTS TO AGREEMENT
			
	 11.1
	  	Amendments and Waivers	  	24
	
	ARTICLE 12
	
	NOTICES
			
	 12.1
	  	Method of Notice	  	25
	 12.2
	  	Computation of Time	  	25
	
	ARTICLE 13
	
	INVESTMENT REPRESENTATIONS
			
	 13.1
	  	Investment Purpose	  	26
	 13.2
	  	Investment Restriction	  	26

					
	 	  	 	  	Page
	ARTICLE 14	  	
		
	GENERAL PROVISIONS	  	
	 14.1
	  	Entire Agreement	  	26
	 14.2
	  	Effective Date	  	26
	 14.3
	  	Governing Law	  	26
	 14.4
	  	Submission to Jurisdiction; Waiver of Jury Trial	  	26
	 14.5
	  	Binding Effect	  	27
	 14.6
	  	Separability	  	27
	 14.7
	  	Headings	  	27
	 14.8
	  	No Third-Party Rights	  	28
	 14.9
	  	Waiver of Partition	  	28
	 14.10
	  	Nature of Interests	  	28
	 14.11
	  	Power of Attorney	  	28
	 14.12
	  	Costs and Expenses of GPC Inc.	  	28

 SIXTH AMENDED AND RESTATED 
 AGREEMENT OF LIMITED PARTNERSHIP OF 
 GRAHAM PACKAGING HOLDINGS
COMPANY 
 THIS SIXTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP is entered into as of the
[    ] day of [                    ], 2010 (and effective as set forth in Section 14.2 hereof) by and among
GPC Holdings, L.P., a Pennsylvania limited partnership (“GPCLP”), Graham Packaging Corporation, a Pennsylvania corporation (“GP Corp”), BCP/Graham Holdings L.L.C., a Delaware limited liability company
(“BCP”), and Graham Packaging Company Inc. (formerly known as BMP/Graham Holdings Corporation), a Delaware corporation (“GPC Inc.”), GPCLP and GP Corp are hereinafter sometimes referred to collectively as the
“Graham Partners.” BCP and GPC Inc. are hereinafter sometimes referred to collectively as the “GPC Partners.” 
 W I T N E S S E T H 
 WHEREAS, Graham Packaging Holdings Company (formerly
known as Graham Packaging Company, the “Partnership”) is an existing limited partnership that was formed in accordance with the provisions of the Pennsylvania Uniform Limited Partnership Act (59 Pa. Cons. Stat. ch. 5) and has been
continued in accordance with the provisions of the Act (as herein defined); 
 WHEREAS, GPC Inc. intends to make an initial
public offering of shares of its Common Stock (as defined below) in connection with an initial public offering (the “IPO”); and 
 WHEREAS, in connection with the IPO, the parties hereto desire to amend and restate the Fifth Amended and Restated Agreement of Limited Partnership of the Partnership dated as of February 2, 1998
(the “Original Agreement”) and to enter into this Sixth Amended and Restated Limited Partnership Agreement of the Partnership to reorganize the Partnership and to provide such exchange and other rights as are necessary to reflect
the public status of GPC Inc. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
parties hereto hereby agree that the Fifth Amended and Restated Agreement of Limited Partnership of the Partnership dated as of February 2, 1998 is hereby amended and restated in its entirety by this Sixth Amended and Restated Agreement of
Limited Partnership and, as so amended and restated hereby, shall read in its entirety as follows: 
 ARTICLE 1 
 THE LIMITED PARTNERSHIP 
 1.1 Prior Formation, Recapitalization, Redemption and Contribution. 
 (a)
The Partners have heretofore become partners in the Partnership which was formed on April 3, 1989 to engage in the business hereinafter described for the period and upon the terms and conditions hereinafter set forth. 
  

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 (b) On the Effective Date, the Partnership will redeem the general partnership interest of
GP Corp in exchange for a limited partnership interest representing the same amount of such general partnership interest and BCP will become the sole general partner in the Partnership. 
 (c) On the Effective Date, the Partnership Interest of each Partner will be denominated as a pro rata number of “Units” (limited
partnership or general partnership, as applicable) as set forth on Schedule 1 hereto. 
 (d) On the Effective Date, GPC
Inc. will contribute net proceeds from the primary offering of newly issued shares in the IPO in exchange for a number of Units equal to the number of shares of Common Stock issued in such offering in accordance with Section 4.6. 
 (e) The General Partner shall amend Schedule 2 to reflect the Partnership Units of each Partner after the transactions contemplated
by this Section 1.1. 
 1.2 Certificate of Limited Partnership. The General Partner on the date hereof executed and
caused to be filed an Amended and Restated Certificate of Limited Partnership of the Partnership (hereinafter referred to as the “Certificate”) in the office of the Secretary of State of the Commonwealth of Pennsylvania, and
hereafter shall execute such further documents (including any further amendments to the Certificate) and take such further action as shall be appropriate to comply with all requirements of law for the continuing operation of a limited partnership in
the Commonwealth of Pennsylvania and all other counties and states where the Partnership may elect to do business. 
 1.3
Name. The name of the Partnership shall be Graham Packaging Holdings Company. The General Partner may change the name of the Partnership or cause the business of the Partnership to be conducted under any other name. 
 1.4 Character of Business. The Partnership was formed for the object and purpose of, and the nature of the business to be conducted
by the Partnership is, engaging in any lawful act or activity for which limited partnerships may be formed under the Act. The business of the Partnership shall be conducted in accordance with, and any action required or permitted to be taken by the
General Partner or any Limited Partner shall be taken in compliance with, all applicable laws, rules and regulations. Such business may be conducted directly by the Partnership or through such subsidiary corporations, partnerships or other entities
as the General Partner deems advisable. 
 1.5 Principal Offices. The location of the principal offices of the
Partnership shall be at 2401 Pleasant Valley Road, York, Pennsylvania, 17402, or at such other location as may be selected from time to time by the General Partner. The Partnership may maintain such other offices at such other places as the General
Partner deems advisable. 
 1.6 Fiscal Year. The fiscal year of the Partnership shall be the calendar year (the
“Partnership Year”). 
 1.7 Accounting Matters. Unless otherwise specified herein, all accounting
determinations hereunder shall be made, all accounting terms used herein shall be interpreted, and all financial statements required to be delivered hereunder shall be prepared, in accordance with Generally Accepted Accounting Principles (as herein
defined). 
  

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 ARTICLE 2 
 DEFINITIONS 
 The following defined terms used in this Agreement shall have
the respective meanings specified below. 
 2.1 Act. “Act” shall mean the Pennsylvania Revised Uniform
Limited Partnership Act (15 Pa. Cons. Stat. ch. 85), as amended from time to time and any successor to such Act. 
 2.2
Affiliate. “Affiliate” of any Person means any other Person that, directly or indirectly, through one or more intermediaries, controls or is controlled by or is under common control with such person or entity. A Person shall
be deemed to be controlled by another Person if such other Person possesses, directly or indirectly, power to direct or cause the direction of management and policies of such Person whether by ownership of equity or other securities, by contract or
otherwise, provided that any Person of which any other Person owns beneficially or of record, either directly or through one or more intermediaries, more than twenty-five percent (25%) of the ownership interests, shall be conclusively presumed
to be an “Affiliate,” provided that Techne Techipack Engineering Italia SPA shall not be an Affiliate of the Graham Partners or any of their Affiliates. 
 2.3 Agreement. This “Agreement” shall refer to this Sixth Amended and Restated Agreement of Limited Partnership, including the Schedules hereto, as the same may be amended from
time to time. 
 2.4 Auditor. “Auditor” shall mean Deloitte & Touche LLP or any successor firm
of independent auditors selected by the General Partner. 
 2.5 Available Cash. “Available Cash” shall
mean at any point in time all cash and cash equivalents on hand of the Partnership and other cash generated from any other source (including, without limitation, any proceeds from any borrowings made under the credit facilities of the Partnership
and its subsidiaries to effect the distributions under Section 5.1(b)(i) hereof (for which the General Partner shall cause such borrowing, if necessary, to fund such distribution to the extent permitted under such credit facilities)), less cash
reasonably reserved or reasonably anticipated to be required for debts and expenses, interest and scheduled principal payments on any indebtedness, capital expenditures, taxes or the activities of the Partnership (including payments to Partners
under any agreement other than this Agreement). 
 2.6 Bankruptcy. The “Bankruptcy” of a Partner shall
mean (i) the filing by a Partner of a voluntary petition seeking liquidation, reorganization, arrangement or readjustment, in any form, of its debts under Title 11 of the United States Code or any other federal or state insolvency law, or a
Partner’s filing an answer consenting to or acquiescing in any such petition, (ii) the making by a Partner of any assignment for the benefit of its creditors or (iii) the expiration of sixty days after the filing of an involuntary
petition under Title 11 of the United States Code, an application for the appointment of a receiver for the assets of a Partner, or an 
  

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involuntary petition seeking liquidation, reorganization, arrangement or readjustment of its debts under any other federal or state insolvency law, provided that the same shall not have been
vacated, set aside or stayed within such sixty day period. 
 2.7 Capital Account. The “Capital Account”
of a Partner shall be (a) credited with (i) the amount of cash or, in the case of non-cash asset contributions, the gross fair market value of such capital contributions as agreed upon by the Partners at the time such contribution is made
less liabilities assumed by the Partnership in connection with such contributions (or to which any such contributed assets are subject) and (ii) such Partner’s allocable share of Profits of the Partnership and (b) debited with
(i) the amount of any cash and the fair market value of any property distributed to it pursuant to Section 5.1, and (ii) such Partner’s allocable share of Losses of the Partnership. 
 2.8 Catch Up Amount. The “Catch Up Amount” shall mean an amount equal to the sum of (i) the product of
(A) the Graham Partners Excess Distribution Amount, multiplied by (B) the quotient of (x) the aggregate Percentage Interest of the General Partner and GPC Inc. divided by (y) the Graham Partners’ aggregate Percentage
Interest and (ii) the Return Amount. 
 2.9 Certificate. The “Certificate” shall have the meaning
ascribed to such term in Section 1.2 of this Agreement. 
 2.10 Class. “Class” means the classes of
Units into which the interests in the Partnership may be classified or divided from time to time pursuant to the provisions of this Agreement. 
 2.11 Code. The “Code” shall mean the Internal Revenue Code of 1986, as amended and in effect from time to time, or the corresponding provisions of any successor statute.

 2.12 Common Stock. “Common Stock” means common stock, par value $0.01 per share, of GPC Inc.

 2.13 DCG. “DCG” shall mean Donald C. Graham. 
 2.14 Depreciation. “Depreciation” shall mean, for each fiscal year or other period, an amount equal to the
depreciation, amortization or other cost recovery deduction allowable with respect to an asset for such year or other period, except that if the Gross Asset Value of an asset differs from its adjusted basis for federal income tax purposes at the
beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization or other cost recovery deduction for such year or other
period bears to such beginning adjusted tax basis. 
 2.15 Effective Date. “Effective Date” shall have the
meaning set forth in Section 14.2 of this Agreement. 
 2.16 Exchange Act. “Exchange Act” means the
United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  

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 2.17 Exchange Agreement. “Exchange Agreement” means the Exchange
Agreement, dated as of [                         ,] 2010, providing for the exchange of Partnership Units for
shares of Common Stock, as amended from time to time. 
 2.18 Exchange Transaction. “Exchange
Transaction” means an exchange of Units for shares of Common Stock pursuant to, and in accordance with, the Exchange Agreement (or such other exchange agreement) or, if GPC Inc. and the exchanging Limited Partner shall mutually agree, a
Transfer of Units to GPC Inc., the Partnership or any of their subsidiaries for other consideration. 
 2.19 Event of
Withdrawal. “Event of Withdrawal” shall have the meaning ascribed to such term in Section 10.1 of this Agreement. 
 2.20 General Partner. “General Partner” means BCP or any successor general partner admitted to the Partnership in accordance with the terms of this Agreement. 
 2.21 Generally Accepted Accounting Principles. “Generally Accepted Accounting Principles” shall refer to generally
accepted accounting principles as in effect from time to time in the United States of America. 
 2.22 GP Corp.
“GP Corp” shall have the meaning ascribed to such term in the first paragraph of this Agreement. 
 2.23 GPC
Partners. “GPC Partners” shall have the meaning ascribed to such term to the first paragraph of this Agreement. 
 2.24 Graham Partners. “Graham Partners” shall have the meaning ascribed to such term in the first paragraph of this Agreement. 
 2.25 Graham Partners Excess Distribution Amount. “Graham Partners Excess Distribution Amount” shall mean an amount equal to the excess of (i) distributions made to the Graham
Partners pursuant to Section 5.1(b)(i) over (ii) the product of (A) distributions made to the GPC Partners pursuant to Section 5.1(b)(i) multiplied by (B) the quotient of (x) the Graham Partners’ aggregate
Percentage Interests divided by (y) the GPC Partners’ aggregate Percentage Interests. 
 2.26 Gross Asset
Value. “Gross Asset Value” shall mean, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows: 
 (1) The initial Gross Asset Value of any asset contributed by a Partner to the Partnership shall be the gross fair market value of such asset at the time of such contribution, as agreed to by the
Partners; 
 (2) The Gross Asset Values of all Partnership assets shall be adjusted to equal their respective gross fair market
values, as agreed to by the Partners, as of the following times: (a) the date of this Agreement and the date of any other acquisition of an additional interest in the Partnership by any new or existing Partner in exchange for more than a de
minimis capital contribution; (b) the distribution by the Partnership to a Partner of more than a de minimis

  

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amount of Partnership property other than money, unless all Partners receive simultaneous distributions of undivided interests in the distributed property in proportion to their respective
Percentage Interests; and (c) the liquidation of the Partnership within the meaning of Treas. Reg. § 1.704-l(b)(2)(ii)(g); and 
 (3) The Gross Asset Value of any Partnership asset distributed to any Partner shall be the gross fair market value of such asset on the date of distribution. 
 If the Gross Asset Value of an asset has been determined or adjusted pursuant to Subsections 2.23(1) or (2) hereof, such Gross Asset Value shall
thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits and Losses. 
 2.27 Limited Partner. “Limited Partner” means each of the Persons from time to time listed as a limited partner of the Partnership in the books and records of the Partnership. 
 2.28 Opco. “Opco” shall mean Graham Packaging Company, L.P., a Delaware limited partnership (formerly known as
Graham Packaging Holdings I, L.P.). 
 2.29 Opco Partnership Agreement. “Opco Partnership Agreement”
shall mean the Agreement of Limited Partnership of Opco. 
 2.30 Original Agreement. “Original
Agreement” shall have the meaning ascribed to such term in the second WHEREAS clause of this Agreement. 
 2.31
Partner. “Partner” means, at any time, each person listed as a partner of the Partnership (including the General Partner) on the books and records of the Partnership, in each case for so long as he, she or it remains a
partner of the Partnership as provided hereunder. 
 2.32 Partnership. “Partnership” shall have the
meaning ascribed to such term in the first WHEREAS clause of this Agreement. 
 2.33 Partnership Interest.
“Partnership Interest” shall refer, with respect to a given Partner as of a given date, to such Partner’s general partner interest in the Partnership (if any) and such Partner’s limited partner interest in the Partnership
(if any), in each case denominated as Units and as of such date. 
 2.34 Partnership Year. “Partnership
Year” shall have the meaning ascribed to such term in Section 1.6. 
 2.35 Percentage Interest.
“Percentage Interest” means, with respect to any Partner, the quotient obtained by dividing the number of Units then owned by such Partner by the number of Units then owned by all Partners. 
 2.36 Person. “Person” shall include an individual, a partnership, a corporation, a limited liability company, a
trust, an unincorporated organization, a government or any department or agency thereof, and any other entity. 
  

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 2.37 Profits and Losses. “Profits” and “Losses”
shall mean, for each fiscal year or other period, an amount equal to the Partnership’s taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain,
loss or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss), with the following adjustments: 
 (i) Any income of the Partnership that is exempt from federal income tax and not otherwise taken into account in computing Profits or Losses
pursuant to this Section 2.38 shall be added to such taxable income or loss; 
 (ii) Any expenditures of the Partnership
described in Section 705(a)(2)(B) of the Code or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treas. Reg. ‘ 1.704-l(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses pursuant to this
Section 2.38, shall be subtracted from such taxable income or loss; 
 (iii) In the event the Gross Asset Value of any
Partnership asset is adjusted pursuant to Subsection 2.23(2) or (3) hereof, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Profits or Losses; 
 (iv) Gain or loss resulting from any disposition of Partnership property with respect to which gain or loss is recognized for federal income
tax purposes shall be computed by reference to the Gross Asset Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Gross Asset Value; and 
 (v) In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or
loss, there shall be taken into account Depreciation for such fiscal year or other period. 
 (vi) Prior to a distribution in
kind assets shall be marked to market and the book gain shall be considered an item of Profit. 
 2.38 Recapitalization
Agreement. “Recapitalization Agreement” shall mean the Agreement and Plan of Recapitalization, Redemption and Purchase dated as of December 18, 1997, by and among the Partnership, the Graham Partners, the GPC Partners,
Graham Engineering Corporation, Graham Recycling Corporation and DCG. 
 2.39 Regulations or Treas. Reg.
“Regulations” or “Treas. Reg.” shall mean the regulations promulgated under the Code. 
 2.40
Return Amount. “Return Amount” shall mean an amount equal to a 5% annual compounded return on the Graham Partners Excess Distribution Amount running from the date such excess distribution is made until the related Catch Up
Amount is paid. 
 2.41 Securities Act. “Securities Act” means the U.S. Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
  

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 2.42 Transfer. “Transfer” shall mean any assignment, mortgage,
hypothecation, transfer, pledge, creation of a security interest in or lien upon, encumbrance, gift or other disposition (including an Exchange Transaction). 
 2.43 Units. “Units” means units and any other interests in the Partnership denominated as “Units” that is established in accordance with this Agreement, which shall
constitute interests in the Partnership as provided in this Agreement and under the Act, entitling the holders thereof to the relative rights, title and interests in the profits, losses, deductions and credits of the Partnership at any particular
time as set forth in this Agreement, and any and all other benefits to which a holder thereof may be entitled as a Partner as provided in this Agreement, together with the obligations of such Partner to comply with all terms and provisions of this
Agreement. 
 2.44 General Provisions. As used in this Agreement, except as the context otherwise requires, each term
stated in either the singular or the plural shall include the singular and the plural, and pronouns stated in the masculine, feminine or neuter gender shall include the masculine, feminine and the neuter. The words “herein”,
“hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole, including the Schedules hereto, and not to any particular Article, Section, Subsection, Clause or Subdivision contained in this
Agreement. 
 ARTICLE 3 
 CAPITAL ACCOUNTS 
 3.1 Capital Accounts. A Capital Account shall be
maintained for each Partner on the books of the Partnership. Schedule 1 hereto reflects the Partners’ respective Capital Accounts as of the close of business on the date hereof, computed consistently with the provisions of this Agreement.

 3.2 Negative Capital Accounts. At no time during the term of the Partnership or upon dissolution and liquidation
thereof shall a Limited Partner with a negative balance in its Capital Account have any obligation to the Partnership or the other Partners to restore such negative balance. 
 3.3 Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the
maintenance of capital accounts are intended to comply with Section 704(b) of the Code and Treas. Reg. § 1.704-l(b) and § 1.704-2 (or any corresponding provision of succeeding law) and shall be interpreted and applied in a
manner consistent with such Regulation. 
 3.4 Succession to Capital Accounts. In the event any interest in the
Partnership is transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred interest. For purposes of the preceding sentence, the
portion of the Capital Account to which the transferee succeeds shall be that percentage of the transferor’s total Capital Account as the Percentage Interest being transferred bears to the total Percentage Interest of the transferor.

  

 8 

 3.5 Certain Adjustments. In the event the Gross Asset Values of the assets of the
Partnership are adjusted pursuant to the provisions of this Agreement, the Capital Accounts of all Partners shall be adjusted simultaneously to reflect the aggregate net adjustment as if the Partnership recognized gain or loss equal to the amount of
such aggregate net adjustment. 
 3.6 No Withdrawal of Capital Contributions. No Partner shall withdraw the balance of
its Capital Account without the unanimous written approval of the other Partners. No Partner shall receive any interest with respect to the balance of its Capital Account. 
 3.7 Other Payments. Notwithstanding anything herein to the contrary, the Capital Account of a Partner will not be adjusted by a
payment, if any, made pursuant to either Section 1.2 (Adjustments) or Section 10.1 (Indemnification) of the Recapitalization Agreement or the event giving rise to such payment. 
 ARTICLE 4 
 PARTNERSHIP UNITS 
 4.1 Partnership Interests. Interests in the Partnership shall be represented by Units, such other Class or Classes of equity
interests in the Partnership, or such other Partnership securities, as the General Partner may establish in its sole discretion in accordance with the terms hereof. The General Partner may establish other Classes of Units, other equity interests in
the Partnership or other Partnership securities from time to time in accordance with such procedures and subject to such conditions and restrictions and with such rights, obligations, powers, designations, preferences and other terms, which may be
senior to any then existing or future Classes of Units, other equity interests in the Partnership or other Partnership securities, as the General Partner shall determine from time to time in its sole discretion, without the vote or consent of any
Limited Partner or any other Person, including (i) the right of such Units, other equity interests or other Partnership securities to share in Profits and Losses or items thereof; (ii) the right of such Units, other equity interests or
other Partnership securities to share in Partnership distributions; (iii) the rights of such Units, other equity interests or other Partnership securities upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and
conditions upon which, the Partnership may or shall be required to redeem such Units or other equity interests or other Partnership securities (including sinking fund provisions); (v) whether such Units or other equity interests or other
Partnership securities are issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which such Units or other equity interests or other
Partnership securities will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other equity interests or other Partnership securities;
(viii) the terms and conditions of the issuance of such Units or other equity interests or other Partnership securities; and (ix) the right, if any, of the holder of such Units or other equity interests or other Partnership securities to
vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other equity interests or other Partnership securities. The General Partner, without the vote or consent of
any Limited Partner or any other Person, is authorized (i) to issue any Units, other equity interests in the Partnership or other Partnership securities of any such newly established Class or any existing Class and (ii) to amend this
Agreement to reflect the creation of 
  

 9 

 
any such new Class, the issuance of Units, other equity interests in the Partnership or other Partnership securities associated with such Class, and the admission of any Person as a Limited
Partner which has received Units or other equity interests of any such Class, in accordance with Sections 9.7 and 11. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Units and any
other Classes of Units that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified in this
Agreement. 
 4.2 Register. The register of the Partnership shall be the definitive record of ownership of each Unit and
all relevant information with respect to each Partner. Unless the General Partner shall determine otherwise, Units shall be uncertificated and recorded in the books and records of the Partnership. 
 4.3 Splits, Distributions and Reclassifications. The Partnership shall not in any manner subdivide (by any Unit split, Unit
distribution, reclassification, recapitalization or otherwise) or combine (by reverse Unit split, reclassification, recapitalization or otherwise) the outstanding Units unless an identical event is occurring with respect to the Common Stock, in
which event the Units shall be subdivided or combined concurrently with and in the same manner as the Common Stock. 
 4.4
Cancellation of Common Stock and Units. At any time a share of Common Stock is redeemed, repurchased, acquired, cancelled or terminated by GPC Inc., one (1) Unit registered in the name of GPC Inc. will automatically be cancelled for no
consideration by the Partnership so that the aggregate number of Units held by the General Partner and GPC Inc. at all times equals the number of shares of Common Stock outstanding. 
 4.5 Incentive Plans. At any time GPC Inc. issues a share of Common Stock pursuant to an Incentive Plan (whether pursuant to the
exercise of a stock option or the grant of a restricted share award or otherwise), the following shall occur: (a) GPC Inc. shall be deemed to contribute to the capital of the Partnership an amount of cash equal to the current per share market
price of a share of Common Stock on the date such share is issued (or, if earlier, the date the related option is exercised) and the Capital Account of GPC Inc. shall be adjusted accordingly; (b) the Partnership shall be deemed to purchase from
GPC Inc. a share of Common Stock for an amount of cash equal to the amount of cash deemed contributed by GPC Inc. to the Partnership in clause (a) above (and such share is deemed delivered to its owner under the Incentive Plan); (c) the
net proceeds (including the amount of any payments made on a loan with respect to a stock purchase award) received by GPC Inc. with respect to such share, if any, shall be concurrently transferred and paid to the Partnership (and such net proceeds
so transferred shall not constitute a capital contribution); and (d) the Partnership shall issue to GPC Inc. one (1) Unit registered in the name of GPC Inc. The Partnership shall retain any net proceeds that are paid directly to the
Partnership. 
 4.6 Offerings of Common Stock. At any time GPC Inc. issues a share of Common Stock other than pursuant to
an Incentive Plan, the net proceeds received by GPC Inc. with respect to such share, if any, shall be concurrently contributed to the Partnership and the Partnership shall issue to GPC Inc. one (1) Unit registered in the name of GPC Inc;
provided 
  

 10 

 
that, this Section 4.6 shall not apply to any shares of Common Stock issued by GPC Inc. in connection with (A) any direct or indirect business combination or acquisition transaction
involving GPC Inc., (B) any joint venture or strategic partnership entered into by GPC Inc. or (C) to financial institutions, commercial lenders, brokers/finders or any similar party, or to respective designees, in connection with the
incurrence or guarantee of indebtedness by GPC Inc. or any of its subsidiaries. 
 4.7 Registered Partners. The
Partnership shall be entitled to recognize the exclusive right of a Person registered on its records as the owner of Units for all purposes and shall not be bound to recognize any equitable or other claim to or interest in Units on the part of any
other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the Act. 
 ARTICLE 5

 DISTRIBUTIONS; PARTNERSHIP ALLOCATIONS; TAX MATTERS 
 5.1 Distributions Prior to Dissolution. (a) Except as provided in Section 10.3 and Section 5.1(b), all distributions
on and after the date of this Agreement shall be made to the Partners in proportion to their respective Percentage Interests. 
 (b) Available Cash shall be distributed to the Partners at the following times and in the following amounts: 
 (i)
Subject to the provisions of the outstanding indebtedness of the Partnership, on or before the fifth business day prior to the date an estimated tax payment is due for a Partner, Available Cash shall be distributed to each Partner in an amount equal
to the product of (1) the highest combined marginal individual or corporate federal, state and local income tax rates ((i) including, to the extent applicable, if any, alternative minimum tax and (ii) taking into account any federal tax
benefit for a deduction for state and local taxes) applicable to the taxable income of the Partnership allocated to any Partner and in effect at the time of the distribution without regard to the identity or tax status of the Partners receiving the
allocation of taxable income, times (2) the remainder, if any, of (A) the product of 25, 50, 75 or 100 percent for the first (1st), second (2nd), third (3rd) or fourth (4th) required estimated tax installment payment for the
fiscal year, respectively, times (a) the cumulative (as annualized) taxable income to be allocated to such Partner pursuant to Section 5.3 for such fiscal year less (b) the cumulative taxable loss that has been allocated to such
Partner to the extent such loss has not previously reduced taxable income pursuant to this provision, as estimated by the General Partner in good faith as of the day for payment, minus (B) the sum of the cumulative distributions to such Partner
pursuant to this provision for each prior required estimated tax installment payment during such fiscal year and the cumulative distributions made to the Partners pursuant to Section 5.1(b)(iii)(B) to the extent such distributions have not
previously reduced distributions pursuant to this Section 5.1(b)(i); and 
 (ii) Upon notice from the General Partner, the
Partners or the Partnership, as the case may be, will reimburse the other for any difference between the amount of distributions made to the Partners pursuant to Section 5.1(b)(i) and the amount of distributions that would

  

 11 

 
have been made based on the actual taxable income reported on the Partnership’s tax return for such fiscal year (the “Reimbursed Amount”). The General Partner shall provide
notice to the Partners of the Reimbursed Amount as soon as practicable after the end of each fiscal year of the Partnership. Such Reimbursed Amount shall be effected by adjusting distributions made to Partners in the next succeeding fiscal year and,
thereafter, by the Reimbursed Amount until the Reimbursed Amount is zero; and 
 (iii) Any remaining Available Cash shall be
distributed to the Partners at such times and in such amounts as the General Partner shall determine as follows: 
  

	 	(A)	First, 100% to the General Partner and GPC Inc. in proportion to their Percentage Interests until such Partners receive aggregate distributions equal to the Catch Up
Amount; and 

  

	 	(B)	Thereafter, to the Partners in proportion to their Percentage Interests. 

 5.2 Partnership Allocations. 
 (a) Except as otherwise provided in this
Section 5.2 or elsewhere in this Agreement, for purposes of this Agreement, and for federal, state and local income tax purposes, all items of Profits and Losses shall be determined with respect to each taxable year of the Partnership as of the
end thereof, and allocated to the Partners in accordance with their then Percentage Interests, except that Profits and all Losses from the sale or exchange of substantially all of the assets of the Partnership shall, in any event, be allocated to
and among the Partners, as the case may be, so as to produce Capital Accounts for the Partners equal to the amounts, sequence and priority that would be distributed to the Partners if all the Partnership Assets were distributed to the Partners in
accordance with the provisions of Section 5.1(b)(iii) of this Agreement. Each Partner’s Percentage Interest shall constitute its interest in partnership profits for purposes of determining such Partner’s share of nonrecourse
liabilities of the Partnership under Treas. Reg. § 1.752-3(a)(3). Accordingly, as of the date of this Agreement, the liabilities shall be allocated among the Partners based on each Partner’s Percentage Interest. 
 (b) Notwithstanding Subsection 5.2(a): 
 (i) Minimum Gain and Hypothetical Capital Accounts. For purposes of complying with Treasury Regulations relating to tax allocation, the Partnership’s “minimum gain,” “minimum
gain attributable to partner nonrecourse debt” and the Partners’ hypothetically adjusted Capital Accounts (“Hypothetical Capital Accounts”) must be determined from time to time. The amount of minimum gain or minimum gain
attributable to partner nonrecourse debt is determined in accordance with Treas. Reg. § 1.704-2(d) or § 1.704-2(i), as the case may be, by computing, with respect to each nonrecourse liability of the Partnership, the amount of
gain (of whatever character), if any, that would be realized by the Partnership if it disposed of (in a taxable transaction) the Partnership property subject to such liability in full satisfaction thereof, and by then aggregating the amounts so
computed. A Partners’ Hypothetical Capital Account shall equal its true Capital Account, increased by any amount that such Partner is treated as being obligated to restore under Treas. Reg. § 1.704-l(b)(2)(ii)(c) (including the
Partner’s share of minimum gain, computed as provided in Treas. Reg. § 1.704-2(g), and of minimum gain

  

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attributable to partner nonrecourse debt, computed as provided in Treas. Reg. § 1.704-2(i)(5)), and decreased by the items described in Treas. Reg. § 1.704-l(b)(2)(ii)(d),
clauses (4), (5) and (6). For purposes of determining each Partner’s share of minimum gain or minimum gain attributable to partner nonrecourse debt, any distributions funded with the proceeds of nonrecourse liabilities shall be treated as
allocable to the nonrecourse liabilities, if any, that were incurred by the Partnership in connection with such distributions. 
 (ii) Qualified Income Offset. A Partner who unexpectedly receives an adjustment, allocation, or distribution described in Treas. Reg. § 1.704-l(b)(2)(ii)(d), clauses (4), (5) and (6), that creates a deficit in his
Hypothetical Capital Account shall be allocated items of income and gain (consisting of a pro rata portion of each item of Partnership income, including gross income, and gain for such year) in an amount and manner sufficient to eliminate such
deficit as quickly as possible. 
 (iii) Minimum Gain Chargeback. If there is a net decrease in the Partnership’s
minimum gain or minimum gain attributable to partner nonrecourse debt during a Partnership taxable year, any Partner with a share of such minimum gain at the beginning of such year shall be allocated, before any other allocation is made of
Partnership items for such taxable year, items of income and gain for such year (and, if necessary, subsequent years) in proportion to, and to the extent of, such Partner’s share of such decrease in minimum gain in accordance with Treas. Reg.
§ 1.704-2(f) and § 1.704-2(i) (the “Minimum Gain Chargeback”). The Minimum Gain Chargeback allocated in any taxable year shall consist first of gains recognized from the disposition of items of Partnership
property subject to one or more nonrecourse liabilities of the Partnership to the extent of the decrease in Minimum Gain attributable to the disposition of such items of property, with the remainder of the Minimum Gain Chargeback, if any, made up of
a pro rata portion of the Partnership’s other items of income and gain for that year. 
 (iv) Special Limitation on
Losses Allocated to a Partner. No loss or deduction shall be allocated to a Partner to the extent that such allocation would reduce such Partner’s Hypothetical Capital Account below zero, and such loss or deduction shall instead be
allocated to the other Partners in proportion to the positive balances of their respective Hypothetical Capital Accounts. 
 (v)
Restoration. If any items of income, gain, loss or deduction shall be specially allocated pursuant to Paragraph (ii), (iii) or (iv) of this Subsection 5.2(b) then as quickly as possible thereafter (but not in such a manner as to
create or increase a deficit in any Partner’s Hypothetical Capital Account) items of income, gain, loss or deduction shall be specially allocated to the Partners so as to return all Capital Accounts to such balances as they would have had if no
such special allocations had been made pursuant to Paragraph (ii), (iii) or (iv) of this Subsection 5.2(b). 
 (vi)
Rule of Construction. This Section 5.2 is intended to satisfy the rules of Treas. Reg. § 1.704-1(b) and the rules for allocations attributable to nonrecourse liabilities set forth in Treas. Reg. § 1.704-2 and should
be so construed. 
  

 13 

 5.3 Tax Allocations; Code Section 704(c). 
 (a) For income tax purposes only, each item of income, gain, loss, deduction and credit of the Partnership shall be allocated among the
Partners in the same manner as the corresponding items of Profits and Losses and specially allocated items are allocated for Capital Account purposes. 
 (b) In accordance with Section 704(c) of the Code and the Treasury Regulations thereunder, income, gain, loss, and deduction with respect to any property contributed to the capital of the Partnership
shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of such property to the Partnership for federal income tax purposes and its initial Gross Asset Value. 
 (c) In the event the Gross Asset Value of any asset of the Partnership shall be adjusted pursuant to the provisions of this Agreement,
subsequent allocations of income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as under
Section 704(c) of the Code and the Treasury Regulations thereunder. 
 (d) Any elections or other decisions relating to
such Section 704(c) allocations and “reverse Section 704(c) allocations” shall be made by the Partners in any manner that reasonably reflects the purpose and intention of this Agreement. Unless otherwise agreed by the Partners,
the Partnership shall use the “traditional allocation method” for such allocations, in accordance with Treas. Reg. § 1.704-3(b). Section 704(c) allocations pursuant to this Section 5.3 are solely for purposes of
federal, state, and local taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Profits, Losses, other items, or distributions pursuant to any provision of this Agreement.

 5.4 Accounting Method. The books of the Partnership (for both tax and financial reporting purposes) shall be kept on
an accrual basis. 
 5.5 Withholding. Each Partner hereby authorizes the Partnership to withhold and to pay over any
taxes payable by the Partnership or any of its Affiliates as a result of such Partner’s participation in the Partnership; if and to the extent that the Partnership shall be required to withhold any such taxes, such Partner shall be deemed for
all purposes of this Agreement to have received a payment from the Partnership as of the time such withholding is required to be paid, which payment shall be deemed to be a distribution to such Partner to the extent that the Partner is entitled to
receive a distribution. To the extent that the aggregate of such payments to a Partner for any period exceeds the distributions to which such Partner is entitled for such period, the amount of such excess shall be considered a demand loan from the
Partnership to such Partner, with interest at an interest rate of 5% compounded annually, which interest shall be treated as an item of Partnership income until discharged by such Partner by repayment, which may be made in the sole discretion of the
General Partner out of distributions to which such Partner would otherwise be subsequently entitled. The withholdings referred to in this Section 5.5 shall be made at the maximum applicable statutory rate under the applicable tax law unless the
General Partner receives documentation, satisfactory to the General Partner, to the effect that a lower rate is applicable, or that no withholding is applicable. 
  

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 5.6 Tax Treatment of Return Amounts. All Return Amounts shall constitute guaranteed
payments for the use of capital, within the meaning of Section 707(c) of the Code. 
 5.7 Distribution by Opco. The
General Partner shall cause Opco to make distributions of cash to the Partnership (to the extent funds are legally available therefor and permitted by applicable debt instruments) necessary for the Partnership to make the distributions required
under this Article 5. 
 ARTICLE 6 
 MANAGEMENT 
 6.1 Rights and Duties of the Partners. 
 (a) The Limited Partners as limited partners in the Partnership shall not participate in the conduct, control or management of the business
of the Partnership, and the Limited Partners shall have no power to act for or bind the Partnership. Except as expressly provided herein, the Units do not confer any rights upon the Limited Partners to participate in the conduct, control or
management of the business of the Partnership described in this Agreement, which conduct, control and management shall be vested exclusively in the General Partner. In all matters relating to or arising out of the conduct of the operation of the
Partnership, the decision of the General Partner shall be the decision of the Partnership. Except as required or permitted by Law, or expressly provided in the ultimate sentence of this Section 6.1(a) or by separate agreement with the
Partnership, no Partner who is not also a General Partner (and acting in such capacity) shall take any part in the management or control of the operation or business of the Partnership in its capacity as a Partner, nor shall any Partner who is not
also a General Partner (and acting in such capacity) have any right, authority or power to act for or on behalf of or bind the Partnership in his or its capacity as a Partner in any respect or assume any obligation or responsibility of the
Partnership or of any other Partner. Notwithstanding the foregoing, the Partnership may employ one or more Partners from time to time, and such Partners, in their capacity as employees of the Partnership, may take part in the control and management
of the business of the Partnership to the extent such authority and power to act for or on behalf of the Partnership has been delegated to them by the General Partner. 
 (b) Pursuant to Pennsylvania law, each Limited Partner shall not be liable for losses or debts of the Partnership beyond the aggregate amount such Partner has contributed to the Partnership pursuant to
this Agreement plus his share of the undistributed net profits of the Partnership, except that a Partner may be liable under Pennsylvania law to repay certain distributions received by it. 
 6.2 Duty of General Partner. The General Partner shall have such duties and responsibilities with respect to the Partnership as are
required under applicable law. 
 6.3 Powers of General Partner. 
 (a) Subject to the terms and conditions of this Agreement (including without limitation Section 6.4) and Section 10 of the
Recapitalization Agreement, the General Partner shall have full and complete charge of all affairs of the Partnership, and the management and

  

 15 

 
control of the Partnership’s business shall rest exclusively with the General Partner. Except as otherwise provided in the Act or by this Agreement, the General Partner shall possess all of
the rights and powers of a partner in a partnership without limited partners under Pennsylvania law. the General Partner shall be required to devote to the conduct of the business of the Partnership such time and attention as is appropriate to
accomplish the purposes, and to conduct properly the business, of the Partnership. Subject to applicable law, the General Partner shall not be obligated to do any act or thing in connection with the Partnership other than pursuant to this Agreement.

 (b) Subject to the limitations set forth in this Agreement (including without limitation Section 6.4), the General
Partner shall have the authority to perform or cause to be performed all management and operational functions relating to the business of the Partnership. Without limiting the generality of the foregoing, except as otherwise provided in
Section 6.4, the General Partner is authorized on behalf of the Partnership, in its sole discretion and without the approval of the Limited Partners, to: 
 (i) expend the capital and revenues of the Partnership in furtherance of the Partnership’s business as described in Section 1.4 and pay, in accordance with the provisions of this Agreement, all
expenses, debts and obligations of the Partnership to the extent that funds of the Partnership are available therefor; 
 (ii)
make investments in United States government securities, securities of governmental agencies, commercial paper, money market funds, bankers’ acceptances, certificates of deposit, and any other debt instruments or other securities, pending
disbursement of the Partnership funds in furtherance of the Partnership’s business as described in Section 1.4 or to provide a source from which to meet contingencies; 
 (iii) enter into and terminate agreements and contracts with third parties in furtherance of the Partnership’s business as described in
Section 1.4, institute, defend and settle litigation arising therefrom, and give receipts, releases and discharges with respect to all of the foregoing; 
 (iv) maintain, at the expense of the Partnership, adequate records and accounts of all operations and expenditures and furnish any Partner with the reports referred to in Section 8.2; 
 (v) purchase, at the expense of the Partnership, liability, casualty, fire and other insurance and bonds to protect the Partnership’s
properties, business, partners and employees and to protect the General Partners and their employees; 
 (vi) employ, at the
expense of the Partnership, consultants, accountants, attorneys and others and terminate such employment; 
 (vii) execute and
deliver any and all agreements, documents and other instruments necessary or incidental to the conduct of the business of the Partnership; 
 (viii) incur indebtedness, borrow funds and/or issue guarantees, in each case for the conduct of the Partnership’s business as described in Section 1.4; 
  

 16 

 (ix) confess judgment on behalf of the Partnership; 
 (x) submit a Partnership claim to arbitration or reference; and 
 (xi) issue and sell additional Partnership Units (other than General Partnership Units) or other securities of the Partnership or any of its
subsidiaries. 
 (c) Notwithstanding the foregoing, the General Partner may, without the written consent of any Limited Partner
or any other Person, amend, supplement, waive or modify any provision of this Agreement and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, to reflect: (i) any amendment,
supplement, waiver or modification that the General Partner determines to be necessary or appropriate in connection with the creation, authorization or issuance of any Class of Units or other equity interests in the Partnership or other Partnership
securities in accordance with this Agreement; (ii) the admission, substitution, withdrawal or removal of Partners in accordance with this Agreement; (iii) a change in the name of the Partnership, the location of the principal place of
business of the Partnership, the registered agent of the Partnership or the registered office of the Partnership; (iv) any amendment, supplement, waiver or modification that the General Partner determines in its sole discretion to be necessary
or appropriate to address changes in U.S. federal income tax regulations, legislation or interpretation; or (v) a change in the Fiscal Year or taxable year of the Partnership and any other changes that the General Partner determines to be
necessary or appropriate as a result of a change in the Fiscal Year or taxable year of the Partnership including a change in the dates on which distributions are to be made by the Partnership; provided, that the books and records of the
Partnership shall be deemed amended from time to time to reflect the admission of a new Partner, the withdrawal or resignation of a Partner, and the adjustment of the Units resulting from any Transfer or other disposition of a Unit, in each case
that is made in accordance with the provisions hereof. 
 (d) The General Partner may, in its sole discretion, unilaterally
amend this Agreement on or before the effective date of the final regulations to provide for (i) the election of a safe harbor under Proposed Treasury Regulation Section 1.83-3(l) (or any similar provision) under which the fair market
value of a partnership interest that is transferred is treated as being equal to the liquidation value of that interest, (ii) an agreement by the Partnership and each of its Partners to comply with all of the requirements set forth in such
regulations and Notice 2005-43 (and any other guidance provided by the Internal Revenue Service with respect to such election) with respect to all partnership interests transferred in connection with the performance of services while the election
remains effective, (iii) the allocation of items of income, gains, deductions and losses required by the final regulations similar to Proposed Treasury Regulation Section 1.704-1(b)(4)(xii)(b) and (c), and (iv) any other related
amendments. 
 (e) Except as may be otherwise required by law in connection with the winding-up, liquidation, or dissolution of
the Partnership, each Partner hereby irrevocably waives any and all rights that it may have to maintain an action for judicial accounting or for partition of any of the Partnership’s property. 
 By executing this Agreement, each Partner shall be deemed to have consented to any exercise by General Partner of any of the foregoing powers. 

 

 17 

 6.4 Restrictions on General Partner Authority. Notwithstanding any other provision of
this Agreement, the General Partner shall not have authority, on behalf of the Partnership, either directly or indirectly, without the prior written approval of the Limited Partners and except in connection with actions permitted by this Agreement
or as otherwise contemplated hereby: 
 (i) to take any action that would result in the failure of the Partnership to be taxable
as a partnership for purposes of federal income tax, or take any position inconsistent with treating the Partnership as a partnership for purposes of federal income tax, except as required by law; and 
 (ii) to elect to dissolve the Partnership, except pursuant to a sale of substantially all assets of the Partnership or otherwise as
expressly permitted herein. 
 6.5 Compensation. For so long as the Graham Partners or any Affiliate thereof do not
directly or indirectly sell more than two-thirds (2/3) in the aggregate of their interests in Partnership Interests owned on February 2, 1998 (or Common Stock for which such Partnership Interests have been or are eligible to be
exchanged), the Partnership shall pay GPCLP or such other entity designated by the Graham Partners a fee of $1,000,000 per annum, payable in four equal quarterly installments on March 31, June 30, September 30 and
December 31 of each year. Any Graham Partner or Affiliate thereof that directly or indirectly sells any Common Stock for which Partnership Interests have been or are eligible to be exchanged, shall promptly notify the General Partner
upon the consummation of such sales. 
 6.6 Other Activities. Any Partner (other than BCP in such capacity) (the
“Interested Party”) may engage in or possess an interest in other business ventures of any nature or description, independently or with others, whether presently existing or hereafter created, and neither the Partnership nor any
Partner (including BCP) other than the Interested Party shall have any rights in or to such independent ventures or the income or profits derived therefrom. 
 ARTICLE 7 
 COSTS AND EXPENSES AND COMPENSATION 
 The Partnership shall (i) pay or cause to be paid all reasonable costs and expenses of the Partnership incurred in pursuing and
conducting, or otherwise related to, the business of the Partnership, including in connection with the IPO and any subsequent action taken by the General Partner with respect to the business of the Partnership, and (ii) reimburse the General
Partner for any reasonable out-of-pocket costs and expenses reasonably incurred by either of them in connection therewith (including, without limitation, in the performance of its duties as tax matters partner). The General Partner shall be entitled
to reimbursement of all of its expenses attributable to the performance of its obligations hereunder. Subject to the Act, no amount so paid shall be deemed to be a distribution of Partnership assets for purposes of this Agreement. Except for
reimbursement of their expenses and their right to distributions as provided in this Agreement, the General Partner shall not receive any compensation for its services as such. 
  

 18 

 ARTICLE 8 
 ACCOUNTS 
 8.1 Books and Records. The General Partner shall maintain
complete and accurate books of account of the Partnership’s affairs at the Partnership’s principal office, including a list of the names and addresses of all Partners. Each Partner shall have the right to inspect the Partnership’s and
its subsidiaries’ books and records (including the list of the names and addresses of Partners) and all financial and other information of the Partnership and its subsidiaries. Each of the Partners shall have the right to audit independently
the books and records and all financial and other information of the Partnership and its subsidiaries, any such audit being at the sole cost and expense of the Partner conducting such audit. In addition, the Graham Partners shall be permitted to
audit the books and records of the General Partner, and GPC Inc. shall be permitted to audit the books and records of GP Corp, as they relate to costs and expenses reimbursed by the Partnership to the General Partner pursuant to Article 7 hereto.

 8.2 Reports, Returns and Audits. 
 (a) The books of account shall be closed promptly after the end of each Partnership Year. The books and records of the Partnership shall be audited on a consolidated basis as of the end of each
Partnership Year by the Auditor. 
 (b) Prior to July 15 of each year, each person who was a Partner at any time during the
previous Partnership Year shall be provided with an information letter (containing such Partner’s Form K-1 or comparable information) with respect to its distributive share of income, gains, deductions, losses and credits for income tax
reporting purposes for such Partnership Year, together with any other information concerning the Partnership necessary for the preparation of a Partner’s income tax return(s), and the Partnership shall provide each Partner with an estimate of
the information to be set forth in such information letter by no later than March 15 of each year. With the sole exception of mathematical errors in computation, the financial statements and the information contained in such information letter
shall be deemed conclusive and binding upon such Partner unless written objection shall be lodged with the General Partner within ninety days after the giving of such information letter to such Partner. 
 (c) The General Partner shall prepare or cause to be prepared all federal, state and local tax returns of the Partnership (the
“Returns”) for each year or other period for which such Returns are required to be filed. To the extent permitted by law, for purposes of preparing the Returns, the Partnership shall use the Partnership Year. Subject to applicable
law, the General Partner shall determine the appropriate treatment of each item of income, gain, loss, deduction and credit of the Partnership and the accounting methods and conventions under the tax laws of the United States, the several states and
other relevant jurisdictions as to the treatment of any such item or any other method or procedure related to the preparation of such Returns. The General Partner may make any elections under the Code and/or applicable state or local tax laws, and
the General Partner shall be absolved from all liability for any and all consequences to any previously admitted or subsequently admitted Partners resulting from its making or failing to make any such election. Notwithstanding the foregoing, the
General Partner shall make the election provided for in Section 754 of the Code, if requested to do so by any Partner. 
  

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 (d) The General Partner shall be the “tax matters partner,” as such term is
defined in Section 6231(a)(7) of the Code. The Tax Matters Partner shall be authorized to incur reasonable expenses in the performance of its duties pursuant to this Section 8.2(e). The Partnership shall bear the cost of such expenses.

 ARTICLE 9 
 TRANSFERS 
 9.1 Transfer of a Limited Partner’s Interest. 
 (a) Except as otherwise provided in this Article 9, no Limited Partner may Transfer its Partnership Interest or any portion thereof to any
Person without the consent of the General Partner. 
 (b) Notwithstanding clause (a) above, (i) each Graham Partner
may Transfer its Units or any portion thereof for shares of Common Stock of GPC Inc. in an Exchange Transaction pursuant to, and in accordance with, the Exchange Agreement and (ii) any other Limited Partners (other than GPC Inc.) may Transfer
Units or any portion thereof for shares of Common Stock of GPC Inc. in an Exchange Transaction pursuant to, and in accordance with, an exchange agreement in form and substance reasonably satisfactory to the General Partner. 
 (c) The Limited Partners agree, upon request of the General Partner to execute such certificates or other documents and perform such acts as
the General Partner reasonably deems appropriate to preserve the status of the Partnership as a limited partnership, after the completion of any permitted Transfer of an interest in the Partnership, under the laws of the Commonwealth of
Pennsylvania. 
 9.2 Allocation of Distributions Subsequent to Assignment. All Profits and Losses of the Partnership
attributable to any Partnership Interest acquired by reason of any Transfer of such Partnership Interest and any distributions made with respect thereto shall be allocated using a method determined by the General Partner (i) in respect of the
portion of the Partnership Year ending on the effective date of the Transfer, to the transferor and (ii) in respect of subsequent periods, to the transferee. All distributions on or before the date of such Transfer shall be made to transferor,
and all distributions thereafter shall be made to the transferee. The effective date of any Transfer permitted under this Agreement, subject to the provisions of Section 9.5 below, shall be the close of business on the day the Partnership is
notified of the Transfer. 
 9.3 Death, Incompetence, Bankruptcy, Liquidation or Withdrawal of a Limited Partner. The
death, incompetence, Bankruptcy, liquidation or withdrawal of a Limited Partner shall not cause (in and of itself) a dissolution of the Partnership, but the rights of such a Limited Partner to share in the Profits and Losses of the Partnership, to
receive distributions and to assign its Interest pursuant to this Article 9, on the happening of such an event, shall devolve on its beneficiary or other successor, executor, administrator, guardian or other legal representative for the purpose of
settling its estate or administering its property, and the Partnership shall continue as a limited partnership. Such successor or personal representative, however, shall become a substituted limited partner only upon compliance with the requirements
of Section 9.6 hereof with respect to a transferee of a Partnership Interest. The estate of a Bankrupt Limited Partner shall be liable for all the obligations of the Limited Partner. 
  

 20 

 9.4 Permitted Transfers of Graham Partners. 
 (a) Right of First Refusal. 
 (i) If any Graham Partner (a “Graham Selling Partner”) proposes to transfer any Partnership Interests to any Person (other than as provided in Section 9.4(b)(i), (ii), (iii) or
(iv)) pursuant to a bona fide written offer to purchase such Partnership Interests (a “Bona Fide Offer”), then such Graham Selling Partner shall first give to the Partnership and to the GPC Partners a written notice (a
“Notice of Sale”) setting forth in reasonable detail the terms and conditions under which the Graham Selling Partner proposes to sell such Partnership Units pursuant to the Bona Fide Offer. 
 (ii) Upon receipt of a Notice of Sale from a Graham Selling Partner, the Partnership shall have the right, exercisable upon written notice
to the Graham Selling Partner and the GPC Partners within 30 days after the date of the Notice of Sale, to elect to purchase, directly or through a designee, all or a portion (subject to (iv) below) of the Partnership Units proposed to be sold
by the Graham Selling Partner at a purchase price equal to the purchase price per unit specified in the Notice of Sale (the “Specified Price”). Such notice shall state the percentage of Partnership Units to be purchased by the
Partnership and that the Partnership shall purchase such Partnership Interests within 60 days of the date of receipt of the Notice of Sale. 
 (iii) In the event that the Partnership shall elect not to purchase, or direct to an assignee the purchase of, all of the Partnership Interests subject to the Notice of Sale, the Partnership shall so
notify the GPC Partners in writing (the “Partnership Notice”) within 30 days after the date of the Notice of Sale. In such event, any GPC Partner shall have the right, exercisable upon written notice to the Graham Selling Partner
within 20 days after receipt of the Partnership Notice, to elect to purchase any or all Partnership Interests not purchased by the Partnership that are proposed to be sold by the Graham Selling Partner at the Specified Price (the “Purchasing
Partner”). Such notice shall state the percentage of Partnership Interests to be purchased by the Purchasing Partner and that the Purchasing Partner shall purchase such Partnership Interests within 60 days of the date of receipt of the
Partnership Notice. 
 (iv) If the Partnership and the GPC Partners do not exercise their purchase rights in the manner and
within the time periods provided in this Section 9.4(a) with respect to all of the Partnership Interests offered in the Notice of Sale, the Graham Selling Partner may sell all, but not less than all, of the Partnership Units subject to the
Notice of Sale to any Person, for not less than the Specified Price and upon the terms set forth in the Notice of Sale. Any such sale must be consummated within 120 days of the date of the Notice of Sale. 
 (v) Any Partnership Units not sold pursuant to the provisions of paragraphs (i) through (iv) above shall again be subject to the
restrictions contained in this Agreement and shall not thereafter be transferred, except in compliance with this Agreement. 
 (b) Notwithstanding anything to the contrary contained in this Agreement, each Graham Partner and, commencing on the anniversary of the date hereof, GP Corp shall be

  

 21 

 
permitted to Transfer all or any portion of its respective Partnership Interests, without the consent of any other Partner, to (i) any Affiliate of such Graham Partner, (ii) any family
member of DCG and any trusts created for their benefit, (iii) any employee of such Graham Partner or its Affiliates and (iv) any Person in accordance with Section 9.4(a) hereto. 
 9.5 Satisfactory Written Assignment Required. Anything herein to the contrary notwithstanding, both the Partnership and the General
Partners shall be entitled to treat the transferor of a Partnership Interest as the absolute owner thereof in all respects, and shall incur no liability for distributions of cash or other property made in good faith to it, until such time as a
written assignment or other evidence of the consummation of a Transfer that conforms to the requirements of this Article 9 and is reasonably satisfactory to the General Partner has been received by and recorded on the books of the Partnership, at
which time the Transfer shall become effective for purposes of this Agreement. 
 9.6 Transferee’s Rights. Any
purported Transfer of a Partnership Interest which is not in compliance with this Agreement is hereby declared to be null and void and of no force and effect whatsoever. A permitted transferee of any Partnership Interest pursuant to
Section 9.1, 9.3 and 9.4 hereof shall be entitled to receive distributions of cash or other property from the Partnership and to receive allocations of the income, gains, credits, deductions, profits and losses of the Partnership attributable
to such Partnership Interest after the effective date of the Transfer but shall not become a Partner unless and until admitted pursuant to Section 9.7 hereof. 
 9.7 Transferees Admitted as Partners. The assignee or transferee of any Partnership Interest shall be admitted as a Partner only upon the satisfaction of the following conditions: 
 (a) A duly executed and acknowledged written instrument of Transfer approved by the General Partner and either a copy of this Agreement duly
executed by the transferee or an instrument of assumption in form and substance satisfactory to the General Partner setting forth the transferee’s agreement to be bound by the provisions of this Agreement have been delivered to the Partnership.

 (b) The transferee has paid any fees and reimbursed the Partnership for any expenses paid by the Partnership in connection
with the Transfer and admission. 
 The effective date of an admission of a Partner and the withdrawal of the transferring Partner, if any,
shall be the first day which is the last business day of a calendar month to occur following the satisfaction of the foregoing conditions. 
 9.8 Additional Restrictions on Transfer. 
 (a) Notwithstanding any contrary
provision in this Agreement, in no event may any Transfer of a Unit or other interest in the Partnership be made by any Limited Partner or assignee or transferee if: 
 (i) such Transfer is made to any Person who lacks the legal right, power or capacity to own such Unit or other interest in the Partnership; 
  

 22 

 (ii) such Transfer would require the registration of such transferred Unit or other interest
in the Partnership or of any Class of Unit or other interest in the Partnership pursuant to any applicable United States federal or state securities laws (including, without limitation, the Securities Act or the Exchange Act) or other foreign
securities laws or would constitute a non-exempt distribution pursuant to applicable state securities laws; 
 (iii) such
Transfer would cause any portion of the assets of the Partnership to constitute assets of any employee benefit plan pursuant to the regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29
of the Code of Federal Regulations, or any successor regulations; 
 (iv) such Transfer would cause any portion of the assets of
the Partnership to become “plan assets” of any benefit plan investor within the meaning of regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the Code of Federal
Regulations, or any successor regulations, or to be regulated under the Employee Retirement Income Security Act of 1974, as amended from time to time; or 
 (v) to the extent requested by the General Partner, the Partnership does not receive such legal and/or tax opinions and written instruments (including, without limitation, copies of any instruments of
Transfer and such assignee’s or transferee’s consent to be bound by this Agreement) that are in a form satisfactory to the General Partner, as determined in the General Partner’s sole discretion. 
 (b) Notwithstanding any other provision of this Agreement, no Partner shall Transfer any interest in the Partnership if such Transfer would
cause the Partnership to be classified as a “publicly traded partnership” as that term is defined in Section 7704 of the Code and the Regulations promulgated thereunder. 
 ARTICLE 10 
 DISSOLUTION 
 10.1 Events of Dissolution. The Partnership shall continue until the earliest to occur of the following events (each an
“Event of Withdrawal”), which shall cause an immediate dissolution of the Partnership: 
 (a) the sale,
exchange or other disposition of all or substantially all of the Partnership’s assets; 
 (b) the withdrawal, resignation,
filing of a certificate of dissolution or revocation of the charter or Bankruptcy of a General Partner or the occurrence of any other event which causes the General Partner to cease to be a general partner of the Partnership under the Act, unless a
majority-in-interest of the Limited Partners elect to continue the Partnership business and select a successor general partner in accordance with the provisions of the Act; or 
 (c) such date as the Partners shall unanimously elect. 
  

 23 

 10.2 Final Accounting. Upon the dissolution of the Partnership as provided in
Section 10.1 hereof, a proper accounting shall be made by the Partnership’s Auditor from the date of the last previous accounting to the date of dissolution. 
 10.3 Liquidation. Upon the dissolution of the Partnership as provided in Section 10.1 hereof, the General Partner or, if there is no general partner, a person approved by a majority in
interest of the remaining Partners, shall cause the cancellation of the Certificate (as amended) and shall act as liquidator to wind up the Partnership. The liquidator shall have full power and authority to sell, assign and encumber any or all of
the Partnership’s assets and to wind up and liquidate the affairs of the Partnership in an orderly and business-like manner. All proceeds from liquidation shall be distributed in the following orders of priority: 
 (a) to the payment and discharge of the debts and liabilities of the Partnership (other than liabilities for distributions to Partners) and
expenses of liquidation, 
 (b) to the setting up of such reserves as the liquidator may reasonably deem necessary for any
contingent liability of the Partnership (other than liabilities for distributions to Partners), and 
 (c) the balance to the
Partners as follows: 
  

	 	(i)	First, 100% to the General Partner and GPC Inc. in proportion to their Percentage Interests until such Partners receive distributions equal to the Catch Up Amount.

  

	 	(ii)	Thereafter, to the Partners in proportion to their Percentage Interests. 

 10.4 Cancellation of Certificate. Upon the completion of the distribution of Partnership assets as provided in Section 10.3 hereof, the Partnership shall be terminated and the person acting as
liquidator shall take such other actions as may be necessary or appropriate to terminate the Partnership. 
 ARTICLE 11

 AMENDMENTS TO AGREEMENT 
 11.1 Amendments and Waivers. Except as provided otherwise herein, this Agreement may not be amended nor may any rights hereunder be waived except by an instrument in writing signed by the General
Partner with such amendment or waiver; provided that any amendment that does not treat all limited partnership interests or Units on the same basis (in proportion to the percentage interests thereof) or all general partnership interests or Units on
the same basis shall be approved by the prejudiced Partner. Without limiting the foregoing, any change, amendment, supplement or waiver which would have the effect of altering, supplementing or amending Section 5.1, 6.4 or 6.5 shall be approved
by the Graham Partners. 
  

 24 

 ARTICLE 12 
 NOTICES 
 12.1 Method of Notice. Any notices or other communications
required or permitted hereunder shall be in writing and shall be deemed to have been duly given when delivered personally or transmitted by telex or telecopier, receipt acknowledged, or in the case of documented overnight delivery service or
registered or certified mail, return receipt requested, postage prepaid, on the date shown on the receipt therefor, addressed to the Partners at their respective addresses set forth below (except that any Partner may from time to time give notice
changing its address for that purpose): 
 If to the Partnership, the General Partner or GPC Inc., to: 
 Graham Packaging Company Inc. 
 2401 Pleasant Valley Road 
 York, Pennsylvania 17402 
 Attention: Chief Legal Officer 
 Facsimile: (717) 849-8541 
 With a required copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017-3954 
 Attention: Wilson S. Neely 
 Facsimile: (212) 455-2502 
 If to the Graham Partners or GP Corp, to: 
 Graham Capital Company 
 1420 Sixth Avenue 
 York, PA 17405 
 Attention: Paul L. Rudy, III 
 Facsimile: (717) 846-6931 
 With a required copy to: 
 Drinker Biddle & Reath LLP 
 105 College Road East 
 P.O. Box 627 
 Princeton, NJ 08542-0627 
 Attention: James Biehl 
 Facsimile: (609) 799-7000 
 12.2 Computation of Time. In computing any period of time under this Agreement, the day of the act, event or default from which the designated period of time begins to run shall not be included.
The last day of the period so computed shall be included, unless it is a Saturday, Sunday or legal holiday, in which event the period shall run until the end of the next day which is not a Saturday, Sunday or legal holiday. 
  

 25 

 ARTICLE 13 
 INVESTMENT REPRESENTATIONS 
 13.1 Investment Purpose. Each Limited
Partner represents and warrants to the Partnership and to each other Partner that it has acquired its limited partner interest in the Partnership for its own account, for investment only and not with a view to the distribution thereof, except to the
extent provided in or contemplated by this Agreement. 
 13.2 Investment Restriction. Each Partner recognizes that
(a) the limited partner interests in the Partnership have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption from such registration, and agrees that it will
not sell, offer for sale, transfer, pledge or hypothecate its limited partner interest in the Partnership (i) in the absence of an effective registration statement covering such limited partner interest under the Securities Act, unless such
sale, offer of sale, transfer, pledge or hypothecation is exempt from registration for any proposed sale, and (ii) except in compliance with all applicable provisions of this Agreement, and (b) the restrictions on transfer imposed by this
Agreement may severely affect the liquidity of an investment in limited partner interests in the Partnership. 
 ARTICLE 14

 GENERAL PROVISIONS 
 14.1 Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter hereof, and supersedes any prior agreement or understanding among
the parties hereto with respect to the subject matter hereof. 
 14.2 Effective Date. This Agreement shall become
effective upon the closing of the IPO (the “Effective Date”) and shall be of no force and effect (i) prior to the closing of the IPO and (ii) if the closing of the IPO has not been consummated within ten (10) business
days from the date of this Agreement. 
 14.3 Governing Law. This Agreement shall be construed in accordance with and
governed by the Act and the other laws of the Commonwealth of Pennsylvania, without giving effect to the provisions, policies or principles thereof relating to choice or conflict of laws. 
 14.4 Submission to Jurisdiction; Waiver of Jury Trial. (a) Any and all disputes which cannot be settled amicably, including any
ancillary claims of any party to this Agreement, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and
enforceability of this arbitration provision) shall be finally settled by arbitration conducted by a single arbitrator in Pennsylvania in accordance with the then existing Rules of Arbitration of the International Chamber of Commerce. If the parties
to the dispute fail to agree on the selection of 
  

 26 

 
an arbitrator within thirty (30) days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer and
shall conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 
 (b) Notwithstanding the provisions of clause (a), the General Partner may bring, or may cause the Partnership to bring, on behalf of the General Partner or the Partnership or on behalf of one or more
Partners, an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award
and, for the purposes of this clause (b), each Partner (i) expressly consents to the application of clause (c) of this Section 14.4 to any such action or proceeding, (ii) agrees that proof shall not be required that monetary
damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii) irrevocably appoints the General Partner as such Partner’s agent for service of process in
connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Partner of any such service of process, shall be deemed in every respect effective service of process upon the Partner
in any such action or proceeding. 
 (c) EACH PARTNER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN
HARRISBURG, PENNSYLVANIA FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION 14.4, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT
OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration
award. The parties acknowledge that the fora designated by this clause (c) have a reasonable relation to this Agreement, and to the parties’ relationship with one another. The parties hereby waive, to the fullest extent permitted by
applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in this clause (c) and such parties agree
not to plead or claim the same. 
 14.5 Binding Effect. Except as provided otherwise herein, this Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their respective legal representatives, heirs, successors and assigns. 
 14.6 Separability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provision in any other jurisdiction. 
 14.7 Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
  

 27 

 14.8 No Third-Party Rights. Nothing in this Agreement shall be deemed to create any
right in any person not a party hereto (other than the permitted successors and assigns of a party hereto) and this Agreement shall not be construed in any respect to be a contract in whole or in part for the benefit of any third party (except as
aforesaid). 
 14.9 Waiver of Partition. Each Partner, by requesting and being granted admission to the Partnership, is
deemed to waive until termination of the Partnership any and all rights that it may have to maintain an action for partition of the Partnership’s assets. 
 14.10 Nature of Interests. All Partnership property whether real or personal, tangible or intangible, shall be deemed to be owned by the Partnership as an entity, and none of the Partners shall
have any direct ownership of such property. 
 14.11 Power of Attorney. Each of the Partners does hereby constitute and
appoint the General Partner as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign and file any amendment to the Certificate which may be required because of this Agreement or the making of
any amendments or supplements thereto as provided in Article 11, and to make, execute, sign and file all such other instruments, documents and certificates which, in the opinion of the General Partner, may from time to time be required by the laws
of the United States of America, the Commonwealth of Pennsylvania or any other jurisdiction in which the Partnership shall determine to do business, or any political subdivision or agency thereof or which the General Partner may deem necessary or
appropriate to effectuate, implement and continue the valid and subsisting existence and business of the Partnership. 
 14.12
Costs and Expenses of GPC Inc. Notwithstanding anything to the contrary contained herein, to the extent that the Partnership remains the sole material asset of GPC Inc., the Partnership shall promptly reimburse GPC Inc. in respect of any
expenses incurred by GPC Inc. in connection with its ownership in the Partnership or the business of GPC Inc. or the Partnership. 
 [Signature page follows] 
  

 28 

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

			
	GENERAL PARTNER:
	
	BCP/GRAHAM HOLDINGS L.L.C.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	LIMITED PARTNERS:
	
	GRAHAM PACKAGING COMPANY INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	GRAHAM PACKAGING CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	GPC HOLDINGS, L.P.
		
	By:	 	 GPC Investments, LLC,
 its
General Partner

		
	By:	 	  

	Name:	 	
	Title:	 	

 SCHEDULE 1 
  

									
	 Partner
	  	Percentage
Interest	 	 	Partnership
Units	  	Capital Account
	 General Partner
	  			 		  		
	 BCP/Graham Holdings L.L.C.
	  	4.0	% 	 		  	$	___________
				
	 Limited Partners
	  			 		  		
	 Graham Packaging Company Inc.
	  	80.9	% 	 		  	$	___________
	 GPC Holdings, L.P.
	  	13.7	% 	 		  	$	___________
	 Graham Packaging Corporation
	  	1.3	% 	 		  	$	___________
	 Roger M. Prevot
	  	0.1	% 	 		  	$	___________
	 Optionholders (represents options to acquire partnership interests/units)
	  			 		  		
		  			 	 	  		
	         Total
	  	100.0	% 	 		  	$	___________
		  			 	 	  		

 SCHEDULE 2 
  

								
	 Partner
	  	Percentage
Interest	  	Partnership
Units	  	Capital Account
	General Partner	  		  		  		
	 BCP/Graham Holdings L.L.C.
	  	%	  		  	$	___________
				
	Limited Partners	  		  		  		
	 Graham Packaging Company Inc.
	  	%	  		  	$	___________
	 GPC Holdings, L.P.
	  	%	  		  	$	___________
	 Graham Packaging Corporation
	  	%	  		  	$	___________
	 Roger M. Prevot
	  	%	  		  	$	___________
	 Optionholders (represents options to acquire partnership interests/units)
	  		  		  		
		  		  	 	  		
	         Total
	  	%	  		  	$	___________Form of Graham Packaging Holdings Company Management Option Unit Exchange Agmt.

 Exhibit 10.41 
 FORM OF GRAHAM PACKAGING HOLDINGS COMPANY 
 MANAGEMENT OPTION UNIT 
 EXCHANGE AGREEMENT 
 This MANAGEMENT LIMITED PARTNERSHIP UNIT EXCHANGE AGREEMENT (this “Agreement”) is made and entered into as of February
    , 2010, by and between GRAHAM PACKAGING HOLDINGS COMPANY, a Pennsylvania limited partnership (the “Holdings”), GRAHAM PACKAGING COMPANY INC., a Delaware corporation
(“Issuer”), and                      (the “Management Holder”). 
 WHEREAS, The Management Holder owns certain limited partnership interests in the Company (the “Option Units”) which were
purchased pursuant to the exercise of option award(s) granted to the Management Holder pursuant to either the 2008 Graham Packaging Holdings Company Management Option Plan (the “2008 Plan”) or the 2004 Graham Packaging Holdings
Company Management Option Plan (the “2004 Plan” and when collective with the 2004 Plan, the “Option Plans”). 
 WHEREAS, on February     , 2010, (the “IPO Effective Date”) Graham Packaging Holding Company, Inc., a corporation organized under the laws of the state of
Delaware (“Graham”), completed an initial public offering and sale (the “IPO”) of shares of common stock, $0.01 par value (“Common Stock”) of the Company pursuant to a registration statement (file
number 333-163956) on Form S-1 for registration under the Securities Act of 1933, as amended (the “Act”). 
 WHEREAS, effective February     , 2010, the Company amended and restated its limited partnership agreement as the Sixth Amended and Restated Limited Partnership Agreement (the “Partnership
Agreement”) and Graham amended and restated its certificate of incorporation to, among other things, increase the number of shares of Common Stock authorized and effect a stock split for shares of Common Stock prior to the IPO (the
“Reorganization”). 
 WHEREAS, in connection with the Reorganization, the Company and Management Holder desire
to enter into this Exchange Agreement pursuant to which the Management Holder will exchange the Units received pursuant to the Option Plans on a one for one basis for shares of Common Stock. 
 NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 

 DEFINITIONS 
 Section 1.1 Definitions. 
 The following definitions shall be for all
purposes, unless otherwise clearly indicated to the contrary, applied to the terms of this Agreement. 

 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Common Stock” has the meaning set forth in the preamble to this Agreement. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 

“Exchange Date” has the meaning set forth in Section 2.1(b) of the Agreement. 
 “Exchange Rate” means the number of shares of Common Stock for which a Option Unit is entitled to be exchanged. On the date
of this Agreement, the Exchange Rate shall be 1 for 1, which Exchange Rate shall be subject to modification as provided in Section 2.4. 
 “General Partner” means BCP/Graham Holdings, L.L.C., the general partner of Holdings. 
 “Holdings” has the meaning set forth in the preamble to this Agreement. 
 “Issuer” has the meaning set forth in the preamble to this Agreement. 
 “Partnership
Agreement” has the meaning set forth in the preamble to this Agreement. 
 ARTICLE II  
 EXCHANGE OF OPTION UNITS 
 Section 2.1 Exchange of Option Units. 
 (a) Subject to adjustment as
provided in this Article II, to the provisions of the Partnership Agreement and to the provisions of Section 2.2 hereof, the Management Holder shall be entitled to exchange Option Units held by the Management Holder at any time and from time to
time. The Management Holder may surrender Option Units to Holdings in exchange for the delivery by the Issuer of a number of shares of Common Stock equal to the product of such number of Option Units surrendered multiplied by the Exchange Rate (an
“Exchange”). 
 (b) On the date Option Units are surrendered for exchange (the “Exchange
Date”), all rights of the Management Holder as holder of such Option Units, included any rights accruing under the Management Stockholders’ Agreement dated as of February 3, 1998, shall cease and such Option Units shall
automatically be extinguished, and the Management Holder shall be treated for all purposes as having become the record holder of such shares of Common Stock. 
  

 2 

 Section 2.2 Exchange Procedures. 
 (a) As promptly as practicable following the surrender for exchange of Option Units in the manner provided in this Article II, the Issuer
shall deliver or cause to be delivered at the principal executive offices of the Issuer or at the office of the Transfer Agent the number of shares of Common Stock issuable upon such exchange, issued in the name of the Management Holder. 

(b) The Issuer may adopt reasonable procedures for the implementation of the exchange provisions set forth in this Article II,
including, without limitation, procedures for the giving of notice of exchange and the surrender of the Option Units in the event that the Option Units are uncertificated. 
 Section 2.3 Exchange Restrictions. (a) Notwithstanding anything to the contrary contained herein, the Management Holder
shall not be entitled to exchange Option Units, and the Issuer and Holdings shall have the right to refuse to honor any request for exchange of Option Units, (i) if such exchange would be prohibited under applicable law or regulation or
(ii) if such exchange would cause Holdings to be classified as a “publicly traded partnership” as such term is defined in Section 7704 of the Code and the regulations promulgated thereunder. 
 (b) Prior to the Issuers obligation to deliver shares of Common Stock pursuant to Section 2.2 above, the Management Holder shall
execute and agree to be bound by a Registration Rights Agreement in a form acceptable to the Issuer and the Company. 
 Section 2.4 Splits, Distributions and Reclassifications. The Exchange Rate shall be adjusted accordingly and equitably if there is: (1) any subdivision (by split, distribution, reclassification, recapitalization or
otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of the Option Units that is not accompanied by an identical subdivision or combination of the shares of Common Stock; or (2) any subdivision (by
split, distribution, reclassification, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of the shares of Common Stock that is not accompanied by an identical subdivision or combination
of the Option Units. In the event of a reclassification or other similar transaction as a result of which the shares of Common Stock are converted into another security, then the Management Holder shall be entitled to receive upon exchange the
amount of such security that the Management Holder would have received if such exchange had occurred immediately prior to the effective date of such reclassification or other similar transaction. Except as may be required in the immediately
preceding sentence, no adjustments in respect of distributions shall be made upon the exchange of any Option Unit. 
 Section 2.5 Taxes. The delivery of shares of Common Stock upon exchange of Option Units shall be made without charge to the Management Holder for any stamp or other similar tax in respect of such issuance unless otherwise
required by law. 
 Section 2.6 Lock-Up. The Management Holder will not, without the prior written consent of the
Issuer offer, sell, contract to sell, pledge or otherwise dispose of, (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition
due to cash settlement or otherwise) of any shares of Common Stock directly or indirectly, including establishing or increasing a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of
the Exchange Act with respect to, any shares of Common Stock; or publicly announce an intention to effect any such transaction, for a period of 180 days after the IPO Effective Date. Notwithstanding the foregoing, if (x) during the last 17 days
of the 180-day restricted period the Issuer issues an earnings release or material news or a material event

  

 3 

 
relating to the Issuer occurs, or (y) prior to the expiration of the 180-day restricted period, the Issuer announces that it will release earnings results during the 16-day period beginning
on the last day of the 180-day period, the restrictions imposed in this clause shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material
event. 
 Section 2.7 Common Stock Issued. For the avoidance of doubt, the shares of Common Stock issued in exchange
for Option Units will not be registered under the Securities Act of 1933, as amended, and will become registered securities only pursuant to a Registration Rights Agreement as described in Section 2.3(b) above. 
 Section 2.8 Reserves. At all times, Issuer shall maintain a minimum number of unencumbered shares of Common Stock reserved for
issuance equal to the product of the aggregate number of Option Units held by the Management Holder multiplied by the Exchange Rate. 
 ARTICLE III  
 GENERAL PROVISIONS 
 Section 3.1 Representations and Warranties. 
 (a) The Issuer, Holdings and the Management Holder hereby represents and warrants to the respective other Parties as follows: 
 (i) it has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated
hereby; this Agreement has been duly executed and delivered by it and constitutes a valid and binding obligation of it, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; and 
 (ii) the execution, delivery and performance of this Agreement by it will not result in any material breach or violation of
or default or right of termination or acceleration under any statute, law, regulation, ordinance, rule, permit, concession, grant, franchise, license or other authorization or approval of any governmental authority, judgment, order or decree or any
mortgage, agreement, deed of trust, indenture or any other instrument to which it is a party or by which it or any of its properties or assets are bound or which is otherwise applicable to it. 
 (b) Each of Issuer and Holdings hereby represents and warrants to the Management Holder that, upon the valid surrender of Option Units
pursuant to an Exchange pursuant to the terms of this Agreement, the Common Stock delivered to the Management Holder pursuant to such Exchange shall be duly and validly authorized, fully paid and nonassessable, and shall be issued in the name of the
Management Holder or such other party as the Management Holder may designate in writing, without charge for any stamp or other similar tax in respect of such issuance, and will pass to the Management Holder or their designee, free and clear of any
liens, security interests and other encumbrances other than any such liens, security interests or other encumbrances imposed by the Management Holder or this Agreement. 
  

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 (c) The Management Holder hereby represents that it hold of record and owns beneficially
all of the Option Units, free and clear of any restrictions on transfer (other than any restrictions under the Partnership Agreement), liens, options, warrants and purchase rights. The Management Holder is not a party to any option, warrant,
purchase right or other contract or commitment (other than this Agreement or the Partnership Agreement) that requires a the Management Holder to sell, transfer or otherwise dispose of Option Units. 
 Section 3.2 Amendment. The provisions of this Agreement may be amended by the affirmative vote or written consent of each of the
Issuer and Holdings and the Management Holder. Without limiting the foregoing, any change, amendment, supplement or waiver which would have the effect of altering, supplementing or amending the Exchange Rate as adjusted from time to time pursuant to
Section 2.4 hereof or the adjustments thereto provided in Section 2.4 shall be approved by the Management Holder. 
 Section 3.3 Address and Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person,
by courier service, by fax, by electronic mail (delivery receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as
shall be as specified in a notice given in accordance with this Section 3.3): 
  

	 	(a)	If to the Issuer or Holdings, to: 

 Graham Packaging Company Inc. 
 2401 Pleasant Valley Road 
 York, Pennsylvania 17402 
 Attention: Chief Legal Officer 
 Facsimile:
(717) [            -            ] 
 With a required copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017-3954 
 Attention: Wilson S. Neely 
 Facsimile: (212) 455-2502 
  

	 	(b)	If to the Management Holder, to Management Holder’s address on file with Graham. 

 Section 3.4 Further Assurances. The parties shall execute and deliver all documents, provide all information and take or refrain
from taking action as may be necessary or appropriate to achieve the purposes of this Agreement. 
  

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 Section 3.5 Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors, assigns and transferees of each of the parties hereto including, without limitation and without the need for an express assignment, subsequent holders of option Units; provided that nothing herein shall be deemed
to permit any assignment, transfer or other disposition of Option Units in violation of the terms of the Partnership Agreement or applicable law. Any Option Units acquired from the Management (or a permitted assignee thereof) shall be entitled to
all of the rights and be held subject to all of the obligations of this Agreement, and by taking and holding such Option Units, such assignee shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions
of this Agreement. 
 Section 3.6 Third Party. Nothing in this Agreement, express or implied, is intended to or
shall confer upon anyone other than the Parties and their respective successors and permitted assigns any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 Section 3.7 Section Headings. Headings contained in this Agreement are inserted only as a matter of convenience and in no way
define, limit or extend the scope or intent of this Agreement or any provisions thereof. 
 Section 3.8
Severability. If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain
in full force and effect so long as the economic or legal substance of the transactions is not affected in any manner materially adverse to any party. Upon a determination that any term or other provision is invalid, illegal or incapable of being
enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be
consummated as originally contemplated to the fullest extent possible. 
 Section 3.9 Integration. This Agreement
constitutes the entire agreement among the Parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 
 Section 3.10 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent
upon a breach thereof shall constitute waiver of any such breach of any other covenant, duty, agreement or condition. 
 Section 3.11 No Employment Contract. Nothing in this Agreement shall be construed as conferring upon the Management Holder any right to continue in the employment of Holdings or any affiliate, nor shall it interfere with the
rights of the Management Holder’s employer to terminate the employment of the Management Holder and/or to take any personnel action affecting the Management Holder without regard to the effect which such action may have upon the Management
Holder as a recipient or prospective recipient of benefits under this Agreement. Any amounts payable hereunder shall not be deemed salary or other compensation to the Management Holder for the purposes of computing benefits to which the Management
may be entitled under any other arrangement established pursuant to his employment. 
  

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 Section 3.12 Submission to Jurisdiction; Waiver of Jury Trial. 
 (a) Any and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or in
connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability of this arbitration provision) shall be finally settled by arbitration conducted
by a single arbitrator in Delaware in accordance with the then-existing Rules of Arbitration of the International Chamber of Commerce. If the parties to the dispute fail to agree on the selection of an arbitrator within thirty (30) days of the
receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer and shall conduct the proceedings in the English language. Performance under this Agreement shall continue if
reasonably possible during any arbitration proceedings. 
 (b) Notwithstanding the provisions of paragraph (a), in the case of
matters relating to an Exchange, the Issuer may bring, on behalf of the Issuer or Holdings or on behalf of the Management Holder, an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to
arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), the Management Holder (i) expressly consents to the application of
sub-paragraphs (i) and (ii) below of this paragraph to any such action or proceeding, (ii) agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate
and that remedies at law would be inadequate, and (iii) irrevocably appoints the Issuer, as the Management Holder’s agents for service of process in connection with any such action or proceeding and agrees that service of process upon such
agent, who shall promptly advise the Management Holder of any such service of process, shall be deemed in every respect effective service of process upon the Management Holder in any such action or proceeding. 
 (i) THE MANAGEMENT HOLDER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN WILMINGTON, DELAWARE FOR THE
PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 3.11, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such
ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora
designated by this sub-paragraph (i) have a reasonable relation to this Agreement, and to the parties’ relationship with one another. 
 (ii) The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such
ancillary suit, action or proceeding brought in any court referred to in the preceding sub-paragraph above and such parties agree not to plead or claim the same. 
 (c) Notwithstanding any provision of this Agreement to the contrary, this Section 3.12 shall be construed to the maximum extent possible to comply with the laws of the State of Delaware, including
the Delaware Uniform Arbitration Act (10 Del. C. § 5701 et seq.) (the “Delaware Arbitration Act”). If, nevertheless, it shall be determined by a court of competent jurisdiction that any provision or wording of this
Section 3.12, including any rules of the International Chamber of Commerce, shall be invalid or unenforceable under the Delaware

  

 7 

 
Arbitration Act, or other applicable law, such invalidity shall not invalidate all of this Section 3.12. In that case, this Section 3.12 shall be construed so as to limit any term or
provision so as to make it valid or enforceable within the requirements of the Delaware Arbitration Act or other applicable law, and, in the event such term or provision cannot be so limited, this Section 3.12 shall be construed to omit such
invalid or unenforceable provision. 
 Section 3.13 Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy or other electronic transmission service shall be considered original executed counterparts for purposes of this Section 3.13. 
 Section 3.14 Tax Treatment. To the extent this Agreement imposes obligations upon Holdings or the General Partner, this
Agreement shall be treated as part of the Partnership Agreement as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. 
 Section 3.15 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of
Delaware. 
 [Remainder of Page Intentionally Left Blank] 
  

 8 

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

			
	GRAHAM PACKAGING COMPANY INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	GRAHAM PACKAGING HOLDINGS COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 MANAGEMENT HOLDER
  
 Print Name:

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