Document:

Series A Preferred Stock Purchase Agreement

 Exhibit 10.31 
 RPX CORPORATION 
 SERIES A AND A-1 PREFERRED 

STOCK PURCHASE AGREEMENT 
 August 12, 2008 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
	1.	 	Purchase and Sale of Stock	  	 	1	  
		 	1.1	  	Sale and Issuance of Series A and Series A-1 Preferred Stock	  	 	1	  
		 	1.2	  	First Closing; Sale of Series A Preferred Stock	  	 	1	  
		 	1.3	  	Second Closing; Sale of Series A-1 Preferred Stock	  	 	2	  
			
	2.	 	Representations and Warranties of the Company	  	 	3	  
		 	2.1	  	Organization, Good Standing and Qualification	  	 	3	  
		 	2.2	  	Capitalization and Voting Rights	  	 	3	  
		 	2.3	  	Subsidiaries	  	 	4	  
		 	2.4	  	Authorization	  	 	5	  
		 	2.5	  	Valid Issuance of Preferred and Common Stock	  	 	5	  
		 	2.6	  	Governmental Consents	  	 	5	  
		 	2.7	  	Offering	  	 	5	  
		 	2.8	  	Litigation	  	 	6	  
		 	2.9	  	Proprietary Information Agreements	  	 	6	  
		 	2.10	  	Patents and Trademarks	  	 	6	  
		 	2.11	  	Compliance with Other Instruments	  	 	7	  
		 	2.12	  	Agreements; Action	  	 	7	  
		 	2.13	  	Related-Party Transactions	  	 	8	  
		 	2.14	  	Permits	  	 	8	  
		 	2.15	  	Obligations of Management	  	 	8	  
		 	2.16	  	Disclosure	  	 	8	  
		 	2.17	  	Registration Rights	  	 	8	  
		 	2.18	  	Corporate Documents	  	 	8	  
		 	2.19	  	Title to Property and Assets	  	 	9	  
		 	2.20	  	Material Liabilities	  	 	9	  
		 	2.21	  	Changes	  	 	9	  
		 	2.22	  	Employee Benefit Plans	  	 	10	  
		 	2.23	  	Labor Agreements and Actions	  	 	10	  
		 	2.24	  	Tax Returns, Payments and Elections	  	 	10	  
		 	2.25	  	Charter Documents; Minute Books	  	 	11	  
		 	2.26	  	Section 83(b) Elections	  	 	11	  
		 	2.27	  	Qualified Small Business Stock	  	 	11	  
		 	2.28	  	Insurance	  	 	11	  
		 	2.29	  	Real Property Holding Corporation	  	 	11	  
		 	2.30	  	Brokers or Finders	  	 	11	  
		 	2.31	  	No Prior Violations by Founders	  	 	11	  
			
	3.	 	Representations and Warranties of the Investors	  	 	12	  
		 	3.1	  	Authorization	  	 	12	  
		 	3.2	  	Purchase Entirely for Own Account	  	 	12	  
		 	3.3	  	Disclosure of Information	  	 	12	  
		 	3.4	  	Investment Experience	  	 	12	  

  
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		 	3.5	  	Accredited Investor	  	 	12	  
		 	3.6	  	Restricted Securities	  	 	13	  
		 	3.7	  	Further Limitations on Disposition	  	 	13	  
		 	3.8	  	Legends	  	 	13	  
		 	3.9	  	Exculpation Among Investors	  	 	13	  
			
	4.	 	Conditions of Investors’ Obligations at Closing	  	 	14	  
		 	4.1	  	Representations and Warranties	  	 	14	  
		 	4.2	  	Performance	  	 	14	  
		 	4.3	  	Compliance Certificate	  	 	14	  
		 	4.4	  	Qualifications	  	 	14	  
		 	4.5	  	Proceedings and Documents	  	 	14	  
		 	4.6	  	Secretary’s Certificate	  	 	14	  
		 	4.7	  	Restated Certificate	  	 	14	  
		 	4.8	  	Proprietary Information and Employee Stock Purchase Agreements	  	 	14	  
		 	4.9	  	Board of Directors	  	 	15	  
		 	4.10	  	Special Director	  	 	15	  
		 	4.11	  	Investors’ Rights Agreement	  	 	15	  
		 	4.12	  	First Refusal and Co-Sale Agreement	  	 	15	  
		 	4.13	  	Voting Agreement	  	 	15	  
		 	4.14	  	Opinion of Company Counsel	  	 	15	  
		 	4.15	  	Management Rights Letter	  	 	15	  
		 	4.16	  	Indemnification Agreements	  	 	15	  
			
	5.	 	Conditions of the Company’s Obligations at the Closing	  	 	15	  
		 	5.1	  	Representations and Warranties	  	 	15	  
		 	5.2	  	Payment of Purchase Price	  	 	16	  
		 	5.3	  	Qualifications	  	 	16	  
			
	6.	 	Miscellaneous	  	 	16	  
		 	6.1	  	Survival of Warranties	  	 	16	  
		 	6.2	  	Indemnification; Put Right	  	 	16	  
		 	6.3	  	Successors and Assigns	  	 	18	  
		 	6.4	  	Governing Law	  	 	18	  
		 	6.5	  	Counterparts	  	 	18	  
		 	6.6	  	Titles and Subtitles	  	 	18	  
		 	6.7	  	Notices	  	 	18	  
		 	6.8	  	Finder’s Fee	  	 	18	  
		 	6.9	  	Expenses	  	 	18	  
		 	6.10	  	Amendments and Waivers	  	 	19	  
		 	6.11	  	Severability	  	 	19	  
		 	6.12	  	Corporate Securities Law	  	 	19	  
		 	6.13	  	Aggregation of Stock	  	 	19	  
		 	6.14	  	Entire Agreement	  	 	19	  
		 	6.15	  	Delays or Omissions	  	 	19	  
		 	6.16	  	Arbitration	  	 	20	  
		 	6.17	  	Waiver of Conflicts	  	 	20	  

  
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	 SCHEDULE A-1
	  	First Closing - Schedule of Investors
	 SCHEDULE A-2
	  	Second Closing - Schedule of Investors
	 SCHEDULE A-3
	  	Third Closing - Schedule of Investors
	 SCHEDULE B
	  	Second Closing Milestones
		
	 EXHIBIT A
	  	Restated Certificate of Incorporation
	 EXHIBIT B
	  	Investors’ Rights Agreement
	 EXHIBIT C
	  	First Refusal and Co-Sale Agreement
	 EXHIBIT D
	  	Voting Agreement
	 EXHIBIT E
	  	Opinion of Counsel for the Company

  
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 RPX CORPORATION 

SERIES A AND A-1 PREFERRED STOCK PURCHASE AGREEMENT 

This STOCK PURCHASE AGREEMENT (the “Agreement”) is made as of the 12th day of August, 2008, by and among RPX Corporation, a Delaware
corporation (the “Company”), and the investors listed on Schedule A hereto, each of which is herein referred to as an “Investor.” 
 THE PARTIES HEREBY AGREE AS FOLLOWS: 
 1. Purchase and Sale of Stock.

 1.1 Sale and Issuance of Series A and Series A-1 Preferred Stock. 

(a) The Company shall adopt and file with the Secretary of State of Delaware on or before the First Closing (as defined below) the
Restated Certificate of Incorporation in the form attached hereto as Exhibit A (the “Restated Certificate”). 
 (b) Subject to the terms and conditions of this Agreement, each Investor listed on Schedule A-1 shall purchase, severally and not jointly, from the Company, and the Company shall issue, sell and
deliver to each Investor, at the First Closing, the number of shares of Series A Preferred Stock set forth opposite such Investor’s name on Schedule A-1 (the “First Closing Shares”) at a purchase price per share equal to
$1.45. 
 (c) Subject to the terms and conditions of this Agreement, each Investor listed on Schedule A-2 shall
purchase, severally and not jointly, from the Company, and the Company shall issue, sell and deliver to each Investor, at the Second Closing (as defined below), up to the number of shares of Series A-1 Preferred Stock set forth opposite such
Investor’s name on Schedule A-2 (the “Second Closing Shares”) at a purchase price per share equal to the Series A-1 Purchase Price (as defined in Section 1.3(c) below). The First Closing Shares and the Second
Closing Shares shall be collectively referred to herein as the “Shares.” 
 (d) On or prior to the First
Closing, the Company shall have authorized (i) the sale and issuance to the Investors of up to 6,979,311 shares of its Series A Preferred Stock and, subject to the satisfaction of the provisions set forth in Section 1.3 below, the
sale and issuance to the Investors of up to 7,300,000 shares of its Series A-1 Preferred Stock and (ii) the issuance of the shares of Common Stock to be issued upon conversion of the Shares (the “Conversion Shares”). The
Shares and the Conversion Shares shall have the rights, preferences, privileges and restrictions set forth in the Restated Certificate. 
 1.2 First Closing; Sale of Series A Preferred Stock. Subject to the satisfaction of waiver of the conditions set forth in Section 4 below, the purchase and sale of the First Closing Shares
shall take place at the offices of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP (“Gunderson Dettmer”), 155 Constitution Drive, Menlo Park, California, at 11 A.M. (local time), on the date hereof, or at
such other time and place as the 

 
Company and Investors acquiring in the aggregate at least fifty-five percent (55%) of the Shares sold pursuant to this Agreement agree upon orally or in writing (which time and place are
designated as the “First Closing”). At the First Closing, the Company shall deliver to each Investor a certificate representing the First Closing Shares that such Investor is purchasing against payment of the purchase price therefor
by check, wire transfer or any combination thereof. 
 1.3 Second Closing; Sale of Series A-1 Preferred Stock.

 (a) Optional Investment. At any time prior to the earlier of (i) the delivery of the Second Closing Notice by
the Company (as defined below) and (ii) December 31, 2008, each Investor shall have the option at any time to purchase, in one or more closings, that number of shares of Series A-1 Preferred Stock which, in the aggregate, may be up to such
Investor’s Second Closing Shares upon ten (10) days’ written notice to the Company at a purchase price per share equal to the Series A-1 Purchase Price. 
 (b) Mandatory Investment. If the Board of Directors of the Company in good faith determines that the Company has satisfied either of the milestones set forth on Schedule B (each being
referred to as a “Second Closing Milestone”) on or prior to December 31, 2008, the Company shall have the right to cause each of the Investors to purchase such Investor’s Second Closing Shares (less any shares of
Series A-1 Preferred Stock previously purchased by such Investor pursuant to Section 1.3(a) above) at a purchase price per share equal to the Series A-1 Purchase Price (such number as adjusted for any stock splits, combinations or the like). In
the event either Second Closing Milestone has been satisfied and the Company desires to proceed with the Second Closing, the Company shall promptly notify each of the Investors in writing of the satisfaction of a Second Closing Milestone and the
number of Second Closing Shares that each Investor shall purchase in the Second Closing (the “Second Closing Notice”). On a date designated by the Company and not sooner than ten (10) business days subsequent to the Second
Closing Notice, at a mutually agreed place and time, the parties hereto shall consummate the purchase and sale of the Second Closing Shares referred to in the Second Closing Notice. At any Second Closing, the Company shall deliver to each Investor a
certificate evidencing the Second Closing Shares is purchasing against payment of the purchase price therefor by check, wire transfer or any combination thereof. The closing of any purchase and sale of shares of Series A-1 Preferred Stock pursuant
to Section 1.3(a) or this Section 1.3(b) is referred to as a “Second Closing” and the First Closing and Second Closing are collectively referred to herein as the “Closing.” Notwithstanding Section 6.9
below, following any Second Closing, Schedule A-2 will be updated to reflect the date of each such closing and the number of shares sold to each Investor in each such closing without the consent of any Investor being necessary to make such
amendment. 
 (c) Series A-1 Purchase Price. The “Series A-1 Purchase Price” shall be calculated as of
immediately prior to the initial Second Closing held pursuant to Section 1.3(a) or (b) and shall be equal to the quotient of (i) $45,000,000 divided by (ii) the number of Fully Diluted Shares. For purposes hereof, “Fully
Diluted Shares” shall mean and include the following: (1) outstanding Common Stock (other than Common Stock resulting form the exercise of options issued under the Plan), (2) Common Stock issuable upon conversion of outstanding
Preferred Stock, (3) Common Stock issuable upon exercise and conversion of 

  
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outstanding warrants, and (4) the total amount of Common Stock reserved under the Plan (as defined below); provided, however, that it shall not include any shares of Common Stock or
Preferred Stock (or options, warrants or other rights therefor) issuable or issued by the Company to holders of patents or patent rights (provided such issuances have been approved by the Board of Directors of the Company (including at least one
Preferred Director (as defined in the Restated Certificate, as amended from time to time)); provided further, however, that the parties hereto acknowledge that they intend that the sum of (i) the total number of shares of Common Stock
available for future issuance under the Plan plus (ii) the total number of outstanding options issued and approved by the Board of Directors of the Company (including at least two Preferred Directors), will be equal to 13.25% of the of
fully-diluted capitalization of the Company on a post-Series A-1 basis. 
 (d) Restriction on Issuance of Series A-1
Shares. The Company shall not issue any shares of Series A-1 Preferred Stock to a party other than the Investors pursuant to this Agreement without the consent of the Investors. 

(e) Amendment of Certificate of Incorporation. Following the final Second Closing under this Agreement, in the event the Board of
Directors of the Company determines it is in the best interests of the Company to do so, the Company and each Investor hereby agree to take all actions necessary to amend the Company’s Certificate of Incorporation as appropriate to reflect the
Series A-1 Purchase Price, including, in the case of an Investor, to vote all shares of capital stock of the Company then owned by such Investor in favor of such amendment at a regular or special meeting of stockholders or by written consent.

 2. Representations and Warranties of the Company. The Company hereby represents and warrants to each Investor that,
except as set forth on a Schedule of Exceptions (the “Schedule of Exceptions”) furnished each Investor, which exceptions shall be deemed to be representations and warranties as if made hereunder: 

2.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and currently planned to be conducted. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties. 
 2.2 Capitalization and Voting Rights. The authorized capital of the Company consists immediately prior to the applicable Closing, of: 

(a) Preferred Stock. 14,400,000 shares of Preferred Stock, par value $0.0001 per share (the “Preferred Stock”),
of which 7,100,000 shares have been designated Series A Preferred Stock and of which 7,300,000 shares have been designated Series A-1 Preferred Stock. No shares of Preferred Stock are issued and outstanding. The rights, privileges and
preferences of the Preferred Stock will be as stated in the Company’s Restated Certificate. 

  
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 (b) Common Stock. 30,000,000 shares of common stock, par value $0.0001 per share
(the “Common Stock”), of which 9,999,998 shares are issued and outstanding. 
 (c) The outstanding shares of
Common Stock are all duly and validly authorized and issued, fully paid and nonassessable, and were issued in accordance with the registration or qualification provisions of the Securities Act of 1933, as amended (the “Act”) and any
relevant state securities laws, or pursuant to valid exemptions therefrom. 
 (d) Except for (A) the conversion privileges
of the Shares that may be issued under this Agreement, (B) the rights provided in Section 2.4 of that certain Investors’ Rights Agreement in the form attached hereto as Exhibit B (the “Investors’ Rights
Agreement”), and (C) the purchase rights provided in Section 1.3 hereof, there are not outstanding any options, warrants, rights (including conversion or preemptive rights) or agreements for the purchase or acquisition from the
Company of any shares of its capital stock. In addition, the Company has reserved an additional 3,819,474 shares of its Common Stock for purchase upon exercise of options to be granted in the future under the Company’s 2008 Stock Plan (the
“Plan”). Other than the Voting Agreement (as defined below), the Company is not a party or subject to any agreement or understanding, and, to the Company’s knowledge, there is no agreement or understanding between any persons
and/or entities, which affects or relates to the voting or giving of written consents with respect to any security or by a director of the Company. 
 (e) All outstanding securities of the Company, including, without limitation, all outstanding shares of the capital stock of the Company, all shares of the capital stock of the Company issuable upon the
conversion or exercise of all convertible or exercisable securities and all other securities that the Company is obligated to issue (i) are subject to a market stand-off restriction no less restrictive than the provision contained in
Section 1.13 of the Investors’ Rights Agreement, (ii) with respect to securities issued to service providers of the Company, are subject to vesting of shares over a four-year period with the first 25% of such shares vesting following
twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following 36 months thereafter, (iii) provide for the right by the Company to repurchase unvested shares at no
greater than cost and (iv) are not transferable (except for transfers to family members or for estate planning purposes) until such time as such stock option, restricted stock and similar equity grant is fully vested. The Company retains a
right of first refusal on transfers of foregoing outstanding securities of the Company until the Company’s initial public offering. 
 (f) No stock plan, stock purchase, stock option or other agreement or understanding between the Company and any holder of any securities or rights exercisable or convertible for securities provides for
acceleration or other changes in the vesting provisions or other terms of such agreement or understanding as the result of the occurrence of any event. 
 2.3 Subsidiaries. The Company does not presently own or control, directly or indirectly, any interest in any other corporation, association, or other business entity. The Company is not a
participant in any joint venture, partnership, or similar arrangement. 

  
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 2.4 Authorization. All corporate action on the part of the Company, its officers,
directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Investors’ Rights Agreement, that certain First Refusal and Co-Sale Agreement in the form attached hereto as Exhibit C (the
“First Refusal and Co-Sale Agreement”) and that certain Voting Agreement in the form attached hereto as Exhibit D (the “Voting Agreement”, and together with the Investors’ Rights Agreement and the
First Refusal and Co-Sale Agreement, the “Ancillary Agreements”), the performance of all obligations of the Company hereunder and thereunder, and the authorization, issuance (or reservation for issuance), sale and delivery of the
Shares being sold hereunder and the Conversion Shares has been taken or will be taken prior to the applicable Closing, and this Agreement and the Ancillary Agreements constitute valid and legally binding obligations of the Company, enforceable in
accordance with their respective terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, and (iii) to the extent the indemnification provisions contained in the Investors’ Rights Agreement may be limited by
applicable federal or state securities laws. 
 2.5 Valid Issuance of Preferred and Common Stock. The Shares being
purchased by the Investors hereunder, when issued, sold and delivered in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and validly issued, fully paid, and nonassessable, and will be free of
restrictions on transfer other than restrictions on transfer under this Agreement and the Ancillary Agreements and under applicable state and federal securities laws. The Conversion Shares have been duly and validly reserved for issuance and, upon
issuance in accordance with the terms of the Restated Certificate, will be duly and validly issued, fully paid, and nonassessable and will be free of restrictions on transfer other than restrictions on transfer under this Agreement and the Ancillary
Agreements and under applicable state and federal securities laws. 
 2.6 Governmental Consents. No consent, approval,
order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority on the part of the Company is required in connection with the consummation of the transactions
contemplated by this Agreement, except (i) the filing of the Restated Certificate with the Secretary of State of Delaware; (ii) the filing pursuant to the Regulation D, promulgated by the Securities and Exchange Commission under the Act;
or (iii) the filings required by applicable state “blue sky” securities laws, rules and regulations. 
 2.7
Offering. Subject in part to the truth and accuracy of each Investor’s representations set forth in Section 3 of this Agreement, the offer, sale and issuance of the Shares as contemplated by this Agreement are exempt from the
registration requirements of any applicable state and federal securities laws, and neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption. Subject in part to the
truth and accuracy of each Investor’s representations set forth in Section 3 of this Agreement, the Conversion Shares issuable upon conversion of the Shares are exempt from the registration requirements of any applicable state and federal
securities laws, and neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption. 

  
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 2.8 Litigation. There is no action, suit, proceeding or investigation pending or, to
the Company’s knowledge, currently threatened against the Company that questions the validity of this Agreement or any Ancillary Agreement, or the right of the Company to enter into such agreements, or to consummate the transactions
contemplated hereby or thereby, or that might result, either individually or in the aggregate, in any material adverse changes in the assets, condition or affairs of the Company, financially or otherwise, or any change in the current equity
ownership of the Company. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit, proceeding or investigation by the
Company currently pending or that the Company intends to initiate. 
 2.9 Proprietary Information Agreements. Each
employee and officer of the Company has executed a Proprietary Information and Inventions Agreement, and each consultant to the Company has executed a Consulting Agreement in substantially the forms made available to the Investors. The Company is
not aware that any of its employees, officers or consultants are in violation thereof, and the Company will use its commercially reasonable efforts to prevent any such violation. 

2.10 Patents and Trademarks. Except as set forth in Section 2.10 of the Schedule of Exceptions, to its knowledge with
respect to patents, trademarks, services marks and trade names only (but without having conducted any special investigation or patent or trademark search), the Company has sufficient title and ownership of all patents, trademarks, service marks,
trade names, domain names, copyrights, trade secrets, information, proprietary rights and processes necessary for its business as now conducted and currently planned to be conducted without any violation or infringement of the rights of others. The
Schedule of Exceptions contains a complete list of patents and pending patent applications of, or exclusively licensed to, the Company. There are no outstanding options, licenses, agreements, claims, encumbrances or shared ownership of interests of
any kind relating to anything referred to above in this Section 2.10 that is to any extent owned by or exclusively licensed to the Company, nor is the Company bound by or a party to any options, licenses or agreements of any kind with respect
to the patents, trademarks, service marks, trade names, domain names, copyrights, trade secrets, licenses, information, proprietary rights and/or processes of any other person or entity, except, in either case, for standard end-user, object code,
internal-use software license and support/maintenance agreements. Except as set forth in Section 2.10 of the Schedule of Exceptions, the Company has not received any communications alleging that the Company has violated or would violate any of
the patents, trademarks, service marks, trade names, copyrights or trade secrets or other proprietary rights of any other person or entity. Except as set forth in Section 2.10 of the Schedule of Exceptions, the Company is not aware that any of
its employees is obligated under any contract (including licenses, covenants or commitments of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with the use of
his or her best efforts to promote the interests of the Company or that would conflict with the Company’s business as presently conducted and currently planned to be conducted. Except as set forth in Section 2.10 of the Schedule of
Exceptions, neither the execution nor delivery of this Agreement or the Ancillary Agreements, nor the carrying on of the Company’s business by the employees of the Company will, to the Company’s knowledge, conflict with or result in a
breach of the terms, conditions or provisions of, or constitute a default under, any contract, covenant or instrument under which any of such 

  
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employees is now obligated. The Company does not believe it is or will be necessary to utilize any inventions of any of its employees made prior to or outside the scope of their employment by the
Company. 
 2.11 Compliance with Other Instruments. The Company is not in violation or default of any provision of its
Restated Certificate or Bylaws, or in any respect of any judgment, order, writ or decree or in any material respect any instrument or contract to which it is a party or by which it is bound, or, to its knowledge, of any provision of any federal or
state statute, rule or regulation applicable to the Company. The execution, delivery and performance of this Agreement and the Ancillary Agreements, and the consummation of the transactions contemplated hereby and thereby will not result in any such
violation or default or be in conflict with or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, order, writ, decree or contract or an event that results in the
creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit, license, authorization, or approval applicable to the Company, its business or
operations or any of its assets or properties. 
 2.12 Agreements; Action. 

(a) Except for agreements explicitly contemplated hereby and by the Ancillary Agreements, there are no agreements, understandings or
proposed transactions between the Company and any of its officers, directors, affiliates, or any affiliate thereof. 
 (b)
There are no agreements, understandings, instruments, contracts, proposed transactions, judgments, orders, writs or decrees to which the Company is a party or by which it is bound that may involve (i) obligations (contingent or otherwise) of,
or payments to the Company in excess of, $10,000, (ii) any material license of any patent, copyright, trade secret or other proprietary right to or from the Company (other than (A) the license of the Company’s software and products in
object code form in the ordinary course of business pursuant to standard end-user agreements the form of which has been provided to special counsel for the Investors or (B) the license to the Company of standard, generally commercially
available, “off-the-shelf” third party products that are not and will not to any extent be part of) or (iii) provisions materially restricting the development, manufacture or distribution of the Company’s products or services or
(iv) indemnification by the Company with respect to infringements of proprietary rights (other than indemnification obligations arising from purchase, sale or license agreements entered into in the ordinary course of business). 

(c) The Company has not (i) declared or paid any dividends or authorized or made any distribution upon or with respect to any class
or series of its capital stock, (ii) incurred any indebtedness for money borrowed or any other liabilities individually in excess of $10,000 or, in the case of indebtedness and/or liabilities individually less than $10,000, in excess of $25,000
in the aggregate, (iii) made any loans or advances to any person, other than ordinary advances for travel expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than the sale of its inventory in the
ordinary course of business. 

  
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 (d) For the purposes of subsections (b) and (c) above, all indebtedness,
liabilities, agreements, understandings, instruments, contracts and proposed transactions involving the same person or entity (including persons or entities the Company has reason to believe are affiliated therewith) shall be aggregated for the
purpose of meeting the individual minimum dollar amounts of such subsections. 
 2.13 Related-Party Transactions. No
employee, officer, or director of the Company (a “Related Party”) or member of such Related Party’s immediate family, or any corporation, partnership or other entity in which such Related Party is an officer, director or
partner, or in which such Related Party has significant ownership interests or otherwise controls, is indebted to the Company, nor is the Company indebted (or committed to make loans or extend or guarantee credit) to any of them. To the
Company’s knowledge, none of such persons has any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation that
competes with the Company, except that employees, officers, or directors of the Company and members of such Related Party’s immediate families may own stock in publicly traded companies that may compete with the Company. No Related Party or
member of their immediate family is directly or indirectly interested in any material contract with the Company. 
 2.14
Permits. The Company has all franchises, permits, licenses, and any similar authority necessary for the conduct of its business as now being conducted and currently planned to be conducted by it, the lack of which could materially and
adversely affect the business, properties or financial condition of the Company, and the Company believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as currently planned to be conducted. The
Company is not in default in any material respect under any of such franchises, permits, licenses, or other similar authority. 

2.15 Obligations of Management. Each officer and key employee of the Company is currently devoting substantially all of his or
her business time to the conduct of the business of the Company. The Company is not aware that any officer or key employee of the Company is planning to work less than full time at the Company in the future. No officer or key employee is currently
working or, to the Company’s knowledge, plans to work for a competitive enterprise, whether or not such officer or key employee is or will be compensated by such enterprise. 

2.16 Disclosure. The Company has fully provided each Investor with all the information that such Investor has requested for
deciding whether to purchase the Shares. To the Company’s knowledge, no certificates made or delivered in connection with this Agreement or the Ancillary Agreements contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements herein or therein not misleading. 
 2.17 Registration Rights. Except as provided
in the Investors’ Rights Agreement, the Company has not granted or agreed to grant any registration rights, including piggyback rights, to any person or entity. 
 2.18 Corporate Documents. Except for amendments necessary to satisfy the representations, warranties or conditions contained in this Agreement (the form of

  
 8 

 
which amendments has been approved by the Investors), the Restated Certificate and Bylaws of the Company are in the form previously made available to the Investors. 

2.19 Title to Property and Assets. The Company owns its property and assets free and clear of all mortgages, liens, loans and
encumbrances, except such encumbrances and liens that arise in the ordinary course of business and do not materially impair the Company’s ownership or use of such property or assets. With respect to the property and assets it leases, the
Company is in compliance with such leases and, to its knowledge, holds a valid leasehold interest free of any liens, claims or encumbrances. 
 2.20 Material Liabilities. The Company has no liability or obligation, absolute or contingent (individually or in the aggregate), except (i) obligations and liabilities incurred after the date
of incorporation in the ordinary course of business that are not material, individually or in the aggregate, and (ii) obligations under contracts made in the ordinary course of business that would not be required to be reflected in financial
statements prepared in accordance with generally accepted accounting principles. 
 2.21 Changes. Since the date of
incorporation there has not been: 
 (a) any change in the assets, liabilities, financial condition or operating results of the
Company, except changes in the ordinary course of business that have not been, in the aggregate, materially adverse; 
 (b) any
damage, destruction or loss, whether or not covered by insurance, materially and adversely affecting the business, properties, prospects, or financial condition of the Company; 

(c) any waiver or compromise by the Company of a valuable right or of a material debt owed to it; 

(d) any satisfaction or discharge of any lien, claim, or encumbrance or payment of any obligation by the Company, except in the ordinary
course of business and the satisfaction or discharge of which would not have a material adverse effect on its business or properties; 
 (e) any material change to a material contract or agreement by which the Company or any of its assets is bound or subject; 
 (f) any material change in any compensation arrangement or agreement with any employee, officer, director or holder of capital stock; 

(g) any sale, assignment or transfer of any patents, trademarks, copyrights, trade secrets or other intangible assets; 

(h) any resignation or termination of employment of any officer or key employee of the Company; and the Company, is not aware of any
impending resignation or termination of employment of any such officer or key employee; 

  
 9 

 (i) any mortgage, pledge, transfer of a security interest in, or lien, created by the
Company, with respect to any of its material properties or assets, except liens for taxes not yet due or payable and liens that arise in the ordinary course of business and do not materially impair the Company’s ownership or use of such
property or assets; 
 (j) any loans or guarantees made by the Company to or for the benefit of its employees, officers or
directors, or any members of their immediate families, other than travel advances and other advances made in the ordinary course of its business; 
 (k) any declaration, setting aside or payment or other distribution in respect to any of the Company’s capital stock, or any direct or indirect redemption, purchase, or other acquisition of any of
such stock by the Company; 
 (l) to the Company’s knowledge, any other event or condition of any character, other than
events affecting the economy or the Company’s industry generally, that could reasonably be expected to result in material adverse effect on its business or properties; or 

(m) any arrangement or commitment by the Company to do any of the things described in this Section 2.21. 

2.22 Employee Benefit Plans. The Schedule of Exceptions sets forth all employee benefit plans maintained, established or
sponsored by the Company, or in or to which the Company participates or contributes, which is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Company has made all required contributions and
has no liability to any such employee benefit plan, other than liability for health plan continuation coverage described in Part 6 of Title I(B) of ERISA, and has complied with all applicable laws for any such employee benefit plan. 

2.23 Labor Agreements and Actions. The Company is not bound by or subject to (and none of its assets or properties is bound by or
subject to) any written or oral, express or implied, contract, commitment or arrangement with any labor union, and no labor union has requested or, to the knowledge of the Company, has sought to represent any of the employees, representatives or
agents of the Company. There is no strike or other labor dispute involving the Company pending, or to the knowledge of the Company threatened, which could have a material adverse effect on the assets, properties, financial condition, operating
results, or business of the Company, nor is the Company aware of any labor organization activity involving its employees. The employment of each officer and employee of the Company is terminable at the will of the Company. The Company has complied
in all material respects with all applicable state and federal equal employment opportunity laws and with other laws related to employment 
 2.24 Tax Returns, Payments and Elections. The Company has filed all tax returns and reports (including information returns and reports) as required by law. These returns and reports are true and
correct in all material respects. The Company has paid all taxes and other assessments due, except those contested by it in good faith that are listed in the Schedule of Exceptions. The Company has withheld or collected from each payment made to
each of its employees, the amount of all taxes (including, but not limited to, federal income 

  
 10 

 
taxes, Federal Insurance Contribution Act taxes and Federal Unemployment Tax Act taxes) required to be withheld or collected therefrom, and has paid the same to the proper tax receiving officers
or authorized depositories. 
 2.25 Charter Documents; Minute Books. The Restated Certificate and Bylaws of the Company
are in the form provided to counsel for the Investors. The minute books of the Company provided to the Investors contain a complete summary of all meetings of directors and stockholders since the time of incorporation and reflect all transactions
referred to in such minutes accurately in all material respects. 
 2.26 Section 83(b) Elections. To the
Company’s knowledge, all individuals who have purchased unvested shares of the Company’s Common Stock have timely filed elections under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and
any analogous provisions of applicable state tax laws. 
 2.27 Qualified Small Business Stock. 

(a) As of and immediately following the Closing, the Stock will meet each of the requirements for qualification as “qualified small
business stock” set forth in Section 1202(c) of the Code, including without limitation the following: (i) the Company will be a domestic C corporation, (ii) the Company will not have made any purchases of its own stock described
in Code Section 1202(c)(3)(B) during the one-year period preceding the Closing, and (iii) the Company’s (and any predecessor’s) aggregate gross assets, as defined by Code Section 1202(d)(2), at no time from the date of
incorporation of the Company and through the Closing have exceeded or will exceed $50 million, taking into account the assets of any corporations required to be aggregated with the Company in accordance with Code Section 1202(d)(3). 

(b) As of the Closing, at least 80% (by value) of the assets of the Company are used by it in the active conduct of one or more
qualified trades or businesses, as defined by Code Section 1202(e)(3), and the Company is an eligible corporation, as defined by Code Section 1202(e)(4). 
 2.28 Insurance. The Company has in full force and effect fire and casualty insurance policies, with extended coverage, sufficient in amount (subject to reasonable deductibles) to allow it to
replace any of its properties that might be damaged or destroyed. 
 2.29 Real Property Holding Corporation. The Company
is not a “United States real property holding corporation” within the meaning of the Code and any applicable regulations promulgated thereunder. 
 2.30 Brokers or Finders. The Company has not incurred, and will not incur, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with
the Agreement. 
 2.31 No Prior Violations by Founders. Notwithstanding any other provisions of this Section 2, to
the best knowledge of the Company, neither the conduct of the Company’s business as now conducted and currently planned to be conducted, including without limitation the acquisition of customers by the Company, nor the hiring of service
providers by 

  
 11 

 
the Company has or will violate any agreement to which any of John Amster, Geoffrey T. Barker or Eran Zur is a party, including without limitation any employment, confidentiality, proprietary
information or non-solicitation agreements. 
 3. Representations and Warranties of the Investors. Each Investor,
severally and not jointly, hereby represents and warrants that: 
 3.1 Authorization. Such Investor has full power and
authority to enter into this Agreement and the Ancillary Agreements, and each such Agreement constitutes its valid and legally binding obligation, enforceable in accordance with its terms except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies, and (iii) to the extent the indemnification provisions contained in the Investors’ Rights Agreement may be limited by applicable federal or state securities laws. 

3.2 Purchase Entirely for Own Account. This Agreement is made with such Investor in reliance upon such Investor’s
representation to the Company, which by such Investor’s execution of this Agreement such Investor hereby confirms, that the Shares to be received by such Investor and the Conversion Shares (collectively, the “Securities”) will
be acquired for investment for such Investor’s own account, not as a nominee or agent, and not with a view to the distribution of any part thereof, and that such Investor has no present intention of selling, granting any participation in, or
otherwise distributing the same. By executing this Agreement, such Investor further represents that such Investor does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such
person or to any third person, with respect to any of the Securities. 
 3.3 Disclosure of Information. Such Investor
believes it has received all the information it considers necessary or appropriate for deciding whether to purchase the Shares. Such Investor further represents that it has had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the offering of the Shares and the business, properties, prospects and financial condition of the Company. The foregoing, however, does not limit or modify the representations and warranties of the Company in
Section 2 of this Agreement or the right of the Investors to rely thereon. 
 3.4 Investment Experience. Such
Investor is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters
that it is capable of evaluating the merits and risks of the investment in the Shares. If other than an individual, Investor also represents it has not been organized for the purpose of acquiring the Shares. 

3.5 Accredited Investor. Such Investor is an “accredited investor” within the meaning of Securities and Exchange
Commission (“SEC”) Rule 501 of Regulation D, as presently in effect. 

  
 12 

 3.6 Restricted Securities. Such Investor understands that the Securities will be
characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such
securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, such Investor represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations
imposed thereby and by the Act. 
 3.7 Further Limitations on Disposition. Without in any way limiting the
representations set forth above, such Investor further agrees not to make any disposition of all or any portion of the Securities unless and until: 
 (a) There is then in effect a Registration Statement under the Act covering such proposed disposition and such disposition is made in accordance with such Registration Statement; or 

(b) (i) Such Investor shall have notified the Company of the proposed disposition and shall have furnished the Company with a
detailed statement of the circumstances surrounding the proposed disposition, and (ii) if reasonably requested by the Company, such Investor shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company
that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in unusual circumstances. 

(c) Notwithstanding the provisions of subsections (a) and (b) above, no such registration statement or opinion of counsel
shall be necessary for a transfer by an Investor that is a partnership to an affiliated venture fund or a partner of such partnership, or to the estate of any such partner or the transfer by gift, will or intestate succession of any partner to his
or her spouse or to the siblings, lineal descendants or ancestors of such partner or his or her spouse, if the prospective transferee agrees in all such instances in writing to be subject to the terms hereof to the same extent as if he or she were
an original Investor hereunder. 
 3.8 Legends. It is understood that the certificates evidencing the Securities may
bear one or all of the following legends: 
 (a) “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.” 
 (b) Any legend required by applicable
state “blue sky” securities laws, rules and regulations. 
 3.9 Exculpation Among Investors. Each
Investor acknowledges that it is not relying upon any person, firm or corporation, other than the Company and its officers and 

  
 13 

 
directors, in making its investment or decision to invest in the Company. Each Investor agrees that no Investor nor the respective controlling persons, officers, directors, partners, agents, or
employees of any Investor shall be liable to any other Investor for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Securities. 

4. Conditions of Investors’ Obligations at Closing. The obligations of each Investor under subsections 1.1(b) and
(c) of this Agreement are subject to the fulfillment on or before each Closing of each of the following conditions, the waiver of which shall not be effective against any Investor who does not consent thereto. 

4.1 Representations and Warranties. When read in conjunction with the Schedule of Exceptions delivered by the Company at the
Closing, the representations and warranties of the Company contained in Section 2 shall be true on and as of the Closing with the same effect as though such representations and warranties had been made on and as of the date of such Closing.

 4.2 Performance. The Company shall have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by it on or before the Closing. 
 4.3
Compliance Certificate. The President or Chief Executive of the Company shall deliver to each Investor at the Closing a certificate stating that the conditions specified in Sections 4.1 and 4.2 have been fulfilled. 

4.4 Qualifications. All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the
United States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be duly obtained and effective as of the Closing. 

4.5 Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated at the
Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to the Investors, and they shall have received all such counterpart original and certified or other copies of such documents as they may reasonably
request. 
 4.6 Secretary’s Certificate. The Secretary or Assistant Secretary of the Company shall deliver to each
Investor at the Closing a certificate stating that the copies of the Company’s Restated Certificate and Bylaws and Board of Director and stockholder resolutions relating to the sale of the Shares attached thereto are true and complete copies of
such documents and resolutions. 
 4.7 Restated Certificate. The Company shall have filed the Restated Certificate with
the Secretary of State of Delaware on or prior to the Closing, which shall continue to be in full force and effect as of the Closing. 
 4.8 Proprietary Information and Employee Stock Purchase Agreements. Each employee of the Company shall have entered into a Proprietary Information

  
 14 

 
and Inventions Agreement, and each consultant to the Company shall have entered into a Consulting Agreement, substantially in the forms previously made available to the Investors. 

4.9 Board of Directors. As of the First Closing, the directors of the Company shall consist of seven (7) directors, which
directors shall initially be Messrs. John Amster, Geoffrey T. Barker, Eran Zur, Randy Komisar and Izhar Armony and there shall be two (2) vacancies on the Board of Directors. 

4.10 Special Director. John Doerr shall be a Special Director of the Company for a period of no more than twelve (12) months
following the Initial Closing. For the avoidance of doubt, Mr. Doerr shall not be a director, employee or consultant of the Company, and the Company shall not represent to third parties or publicize anything to the contrary. Notwithstanding any
other provision contained in this Agreement, this Section 4.10 shall not be amended without the written consent of KPCB Holdings, Inc. 
 4.11 Investors’ Rights Agreement. The Company and each Investor shall have entered into the Investors’ Rights Agreement in the form attached as Exhibit B. 

4.12 First Refusal and Co-Sale Agreement. The Company, each Investor and each Founder (as defined therein) shall each have
entered into a First Refusal and Co-Sale Agreement in the form attached hereto as Exhibit C. 
 4.13 Voting
Agreement. The Company, each Investor and each Founder (as defined therein) shall each have entered into a Voting Agreement in the form attached hereto as Exhibit D. 

4.14 Opinion of Company Counsel. Each Investor shall have received from Gunderson Dettmer, counsel for the Company, an opinion,
dated as of the Closing, in the form attached hereto as Exhibit E. 
 4.15 Management Rights Letter. The
Company and each Investor who so requests shall each have entered into a Management Rights Letter in a form mutually agreeable to the Company and such Investor. 
 4.16 Indemnification Agreements. The Company and each director shall have entered into an Indemnification Agreement in a form mutually agreeable to the Company and the Investors. 

5. Conditions of the Company’s Obligations at the Closing. The obligations of the Company to each Investor under this
Agreement are subject to the fulfillment on or before each Closing of each of the following conditions by that Investor: 
 5.1
Representations and Warranties. The representations and warranties of the Investors contained in Section 3 shall be true on and as of the applicable Closing with the same effect as though such representations and warranties had been made
on and as of such Closing. 

  
 15 

 5.2 Payment of Purchase Price. The Investor shall have delivered the purchase price
specified in Section 1.1(b) or 1.1(c), as applicable. 
 5.3 Qualifications. All authorizations, approvals, or
permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be duly obtained and
effective as of the Closing. 
 6. Miscellaneous. 

6.1 Survival of Warranties. The warranties, representations and covenants of the Company and Investors contained in or made
pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing and shall in no way be affected by any investigation of the subject matter thereof made by or on behalf of the Investors or the Company;
provided, however, that the warranties, representations and covenants of the Company set forth in Section 2.31 shall only survive until the earlier of (a) the three (3) year anniversary of the execution and delivery of this
Agreement and (b) immediately prior to the initial closing of the next round of equity financing of the Company following the issuance of the shares of Series A-1 contemplated by this Agreement with gross cash proceeds to the Company of at
least $5,000,000 at a per share price not less than the Series A-1 Purchase Price (such number as adjusted for any stock splits, combinations or the like). 
 6.2 Indemnification; Put Right. 
 (a) Indemnification by the
Company. Subject to the limitations set forth in Section 6.1 and this Section 6.2, in consideration of each Investor’s execution and delivery of this Agreement and acquiring the Securities hereunder, the Company shall defend,
protect, indemnify and hold harmless each Investor and each permitted transferee of the Securities and all of their partners, members, officers, directors and employees and any of the foregoing persons’ agents or other representatives
(including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses,
costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees
and disbursements (collectively, “Claims”), incurred by any Indemnitee as a result of, or arising out of, or relating to any misrepresentation or breach of any representation or warranty made by the Company in Section 2.31 of
this Agreement (a “Violation”). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Claims
which is permissible under applicable law. 
 (b) Procedures for Indemnification. Promptly after an Indemnitee has
knowledge of any Claim as to which such Indemnitee reasonably believes indemnity may be sought or promptly after such Indemnitee receives notice of the commencement of any action or proceeding (including any governmental action or proceeding)
involving a Claim, such Indemnitee shall, if a Claim in respect thereof is to be made against any the Company under this Section 6.2, deliver to the Company a written notice of such Claim, and

  
 16 

 
the Company shall have the right to participate in, and, to the extent the Company so desires, to assume control of the defense thereof with counsel mutually satisfactory to the Company and the
Indemnitee; provided, however, that an Indemnitee shall have the right to retain its own counsel if, in the reasonable opinion of counsel retained by the Company, the representation by such counsel of the Indemnitee and the Company
would be inappropriate due to actual or potential differing interests between such Indemnitee and the Company; provided, further, that the Company shall not be responsible for the reasonable fees and expense of more than one
(1) separate legal counsel for the Indemnitees. In the case of the Indemnitees, the legal counsel referred to in the immediately preceding sentence shall be selected by the Investors holding a majority in interest of the Securities to which the
Claim relates. The Indemnitees shall cooperate fully with the Company in connection with any negotiation or defense of any such action or Claim by the Company and shall furnish to the Company all information reasonably available to the Indemnitees
which relates to such action or Claim. The Company shall keep the Indemnitees fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. The Company shall not be liable for any settlement of any
Claim effected without its prior written consent; provided, however, that the Company shall not unreasonably withhold, delay or condition its consent. The Company shall not, without the prior written consent of the Indemnitees, consent
to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnitee of a full release from all liability in respect to such
Claim and action and proceeding. After indemnification as provided for under this Agreement, the rights of the Company shall be subrogated to all rights of the Indemnitees with respect to all third parties, firms or corporations relating to the
matter for which indemnification has been made. The failure to deliver written notice to the Company as provided in this Agreement shall not relieve the Company of any liability to the Indemnitees under this Section 6.2, except to the extent
that the Company is materially prejudiced in its ability to defend such action. 
 (c) Put Right. Subject to applicable
law, in the event of any final, non-appealable adjudication that a Violation has occurred, each Investor shall have the right to sell to the Company the Securities equal to the number of shares each Investor originally purchased from the Company
pursuant to this Agreement. Such sale shall be made on the following terms and conditions: 
 (i) The price per share at which
the shares are to be sold to the Company shall be equal to the price per share paid by the Investor to the Company (such number as adjusted for any stock splits, combinations or the like). 

(ii) The Company shall, upon receipt of the certificate or certificates for the shares to be sold by an Investor pursuant to this
Section 6.2, pay the aggregate purchase price therefor, in cash or by other means acceptable to the Investor. 
 (d)
Survival of and Limitation of Obligations. The obligations of the Company under this Section 6.2 shall survive the transfer of the Securities by the Indemnitees; provided, that such transfer is made to an existing investor in the
Investor or an affiliated entity of the Investor. In addition, in no event shall the obligations of the Company to indemnify an Investor or permitted transferee exceed the aggregate amount of such Investor’s initial investment in the Company
under this Agreement. 
  

  
 17 

 6.3 Successors and Assigns. Except as otherwise provided herein, the terms and
conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any Securities). Nothing in this Agreement, express or implied, is intended to confer upon
any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

6.4 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California as applied to
agreements among California residents entered into and to be performed entirely within California. 
 6.5 Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 6.6 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

6.7 Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed
effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day,
(iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages attached hereto (or at such other addresses as shall be specified by notice given in
accordance with this Section 6.6). 
 6.8 Finder’s Fee. Each party represents that it neither is nor will be
obligated for any finders’ fee or commission in connection with this transaction. Each Investor agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finders’ fee (and
the costs and expenses of defending against such liability or asserted liability) for which such Investor or any of its officers, partners, employees, or representatives is responsible. 

The Company agrees to indemnify and hold harmless each Investor from any liability for any commission or compensation in the nature of a
finders’ fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible. 

6.9 Expenses. Irrespective of whether any Closing is effected, the Company shall pay all costs and expenses that it incurs with
respect to the negotiation, execution, delivery and performance of this Agreement. If the First Closing is effected, the Company shall, at the First Closing, reimburse the reasonable fees and out-of-pocket expenses of Orrick, Herrington &
Sutcliffe LLP, special counsel for the Investors, not to exceed $40,000. 

  
 18 

 6.10 Amendments and Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of at least fifty-five percent
(55%) of the Conversion Shares issued or issuable upon conversion of the Shares purchased hereunder. Any amendment or waiver effected in accordance with this section shall be binding upon each holder of any securities purchased under this
Agreement at the time outstanding (including securities into which such securities are convertible), each future holder of all such securities, and the Company. 
 6.11 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the
Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

6.12 Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE
COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS
EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 

6.13 Aggregation of Stock. All shares of the Preferred Stock held or acquired by affiliated entities or persons shall be
aggregated together for the purpose of determining the availability of any rights under this Agreement. 
 6.14 Entire
Agreement. This Agreement and the documents referred to herein constitute the entire agreement among the parties and no party shall be liable or bound to any other party in any manner by any warranties, representations, or covenants except as
specifically set forth herein or therein. 
 6.15 Delays or Omissions. No delay or omission to exercise any right, power
or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a
waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement,
must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

  
 19 

 6.16 Arbitration. The Company and the other parties hereto agree first to negotiate
in good faith to resolve any disputes arising out of or relating to or affecting the subject matter of this Agreement. Any dispute arising out of or relating to or affecting the subject matter of this Agreement not resolved by negotiation shall be
settled by binding arbitration in Santa Clara County, California before the Judicial Arbitration and Mediation Services, Inc. (“JAMS”) under the JAMS Rules of Practice and Procedure. The arbitrator shall be a former judge of a court
of California. Discovery and other procedural matters shall be governed as though the proceeding were an arbitration. Any judgment upon the award may be confirmed and entered in any court having jurisdiction thereof. The arbitrator shall be required
to, in all determinations, apply California law without regard to its conflicts of law provisions. Notwithstanding the foregoing, the arbitrator shall apply the substantive law of the state of incorporation of the Company, where applicable or where
indicated by the terms of this Agreement. The arbitrator is afforded the jurisdiction to order any provisional remedies, including, without limitation, injunctive relief. The arbitrator may award the prevailing party the costs of arbitration,
including reasonable attorneys’ fees and expenses. The arbitrator’s award shall be in writing and shall state the reasons for the award. The Company and the other parties hereto stipulate that a JAMS employee may be appointed as a judge
pro tempore of the Superior Court of Santa Clara County if required to carry out the terms of this provision. Arbitration shall be the sole and exclusive means to resolve any dispute. 

6.17 Waiver of Conflicts. Each party to this Agreement acknowledges that Gunderson Dettmer, counsel for the Company, has in the
past and may continue to perform legal services for certain of the Investors in matters unrelated to the transactions described in this Agreement, including the representation of such Investors in venture capital financings and other matters.
Accordingly, each party to this Agreement hereby (1) acknowledges that they have had an opportunity to ask for information relevant to this disclosure; (2) acknowledges that Gunderson Dettmer represented the Company in the transaction
contemplated by this Agreement and has not represented any individual Investor or any individual stockholder or employee of the Company in connection with such transaction; and (3) gives its informed written consent to Gunderson Dettmer’s
representation of certain of the Investors in such unrelated matters and to Gunderson Dettmer’s representation of the Company in connection with this Agreement and the transactions contemplated hereby. 

  
 20 

 IN WITNESS WHEREOF, the parties have executed this Series A Preferred Stock Purchase
Agreement as of the date first above written. 
  

					
		 	RPX CORPORATION
			
		 	By:	 	 /s/ John Amster

		 	Name:	 	John Amster
		 	Title:	 	Co-Chief Executive Officer
		
	Address:	 	 460 Bush Street

San Francisco, CA 94108

 SIGNATURE PAGE TO SERIES A AND A-1 PREFERRED STOCK 

PURCHASE AGREEMENT 

 
					
		 	INVESTORS:
		
		 	CHARLES RIVER PARTNERSHIP XIII, LP
			
		 	By:	 	Charles River XIII GP, LP
		 		 	Its General Partner
			
		 	By:	 	Charles River XIII GP, LLC
		 		 	Its General Partner
			
		 	By:	 	 /s/ Izhar Armony

		 		 	Izhar Armony
		 		 	Authorized Manager
		
		 	CHARLES RIVER FRIENDS XIII-A, LP
			
		 	By:	 	Charles River XIII GP, LLC
		 		 	Its General Partner
			
		 	By:	 	 /s/ Izhar Armony

		 		 	Izhar Armony
		 		 	Authorized Manager
		
	Address:	 	 1000 Winter Street, Suite 3300
 Waltham, MA 02451
 with a copy to: Lisa Haines

SIGNATURE PAGE TO SERIES A AND A-1 PREFERRED
STOCK 
 PURCHASE AGREEMENT 

 
							
		 	INVESTORS:
		
		 	KPCB HOLDINGS, INC., AS NOMINEE
			
		 	By:	 	 /s/ John Denniston

		 		 	Name:	 	John Denniston
		 		 	Its:	 	President
		
	Address:	 	 2750 Sand Hill Road

Menlo Park, CA 94025

 SIGNATURE PAGE TO SERIES A AND A-1 PREFERRED STOCK 

PURCHASE AGREEMENT 

 
					
		 	INVESTORS:
		
		 	G&H PARTNERS
			
		 	By:	 	 /s/ Jonathan Gleason

		 	Name:	 	 Jonathan Gleason

		 	Title:	 	  

		
	Address:	 	 155 Constitution Drive
 Menlo Park, CA 94025

 SIGNATURE
PAGE TO SERIES A AND A-1 PREFERRED STOCK 
 PURCHASE AGREEMENT 

 
					
		 	INVESTORS:
		
		 	THE JOHN S WADSWORTH JR REV TR AGREEMENT DTD 12/3/01
			
		 	By:	 	 /s/ John S Wadsworth, Jr.

		 	Name:	 	John S Wadsworth, Jr. as Trustee
		
	Address:	 	 c/o Scott Jacobs

555 California Street, Suite 2200, 14th Floor
 San Francisco, CA 94104

 SIGNATURE
PAGE TO SERIES A AND A-1 PREFERRED STOCK 
 PURCHASE AGREEMENTAmended and Restated Commitment Letter

 Exhibit 10.1 

 

 

  
 MERRILL LYNCH,
PIERCE, FENNER & SMITH INCORPORATED 
 BANK OF AMERICA, N.A. 

One Bryant Park 
 New York, NY 10036 
 April 12, 2011

 Silgan Holdings Inc. 
 4 Landmark Square 
 Suite 400 

Stamford, CT 06901 
 Project Sailfish 
 Amended and Restated Commitment
Letter 
 Ladies and Gentlemen: 
 This Amended and Restated Commitment Letter amends and restates in its entirety the Commitment Letter dated as of April 2, 2011 (the “Original Commitment Letter”) by and
among Silgan, Bank of America and Merrill Lynch (each as defined below) and supersedes it in all respects, and the Original Commitment Letter shall be of no further force and effect. 

You have advised Bank of America, N.A. (“Bank of America”) and Merrill Lynch, Pierce, Fenner & Smith
Incorporated (“Merrill Lynch” and, together with Bank of America, “we” or “us”or the “Commitment Parties”) that Silgan Holdings Inc. (“Silgan”, or “you”), a Delaware corporation, intends to
acquire (the “Acquisition”) Graham Packaging Company Inc., a Delaware corporation (the “Acquired Business”) from its current equity holders. The Acquisition will be effected through the merger of the Acquired Business with and
into Silgan, with Silgan surviving such merger. After giving effect to the Transaction (as hereinafter defined), Silgan will own all of the assets of the Acquired Business immediately prior to the consummation of the Transaction, including the
equity in any subsidiaries owned by the Acquired Business immediately prior to the consummation of the Transaction, and will continue to hold all assets held by Silgan as of immediately prior to the consummation of the Transaction, including the
equity in any subsidiaries owned by Silgan. Silgan, the Acquired Business and their respective subsidiaries are sometimes collectively referred to herein as the “Companies”. 

You have also advised us that you intend to finance the Acquisition, the repayment or redemption of certain existing
indebtedness of the Companies (the “Refinancing”), the costs and expenses related to the Transaction and the ongoing working capital and other general corporate purposes of the Companies after consummation of the Acquisition from the
following sources (and that no financing other than the financing described herein will be required in connection with the Transaction): (a) common equity of Silgan in an aggregate amount not less than 20% of the total consideration paid for
the equity of the Acquired Business; (b) up to $4,000 million in senior secured credit facilities of Silgan (collectively, the “Senior Credit Facilities”), comprised of (i) term loan facilities of $3,200 million, consisting of a
term loan A facility of $900 million and a term loan B facility (which, at the option of Silgan and the Commitment Parties, may be replaced by one or more senior note facilities that will reduce the principal amount of the term loan B facility on a
dollar-for dollar basis) of $2,300 million, and (ii) a revolving credit facility of up to $800 million; (c) in the event any holder of the Acquired Business’ 8.25% Senior Unsecured Notes due 2017 and 8.25% Senior Unsecured Notes (the
“Existing Senior Notes”) tender their Existing Senior Notes pursuant to the Change of Control Offer (as defined in the indenture governing the Existing Senior Notes) to be made in connection with the Transactions (the “Put”), an
amount equal to 
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35 36 37 38 39 40 41 42 43 

 

 

  
 the principal
of Existing Senior Notes tendered pursuant to the Put, but in no event more than $500 million in gross proceeds from the issuance and sale by Silgan of senior unsecured notes (the “Senior Notes”) or, if the Senior Notes are not issued and
sold on or prior to the date of consummation of the Acquisition, an amount equal to the face amount of Existing Senior Notes tendered pursuant to the Put, but in no event more than $500 million, in senior unsecured loans (the “Senior Bridge
Loans” and, together with any Senior Rollover Loans and Senior Exchange Notes (each as defined in Annex II hereto), the “Senior Bridge Facility”, as interim financing for the mandatory redemption of Existing Senior Notes pursuant to
the Put, (d) up to $400 million in gross proceeds from the issuance and sale by Silgan of senior subordinated unsecured notes (the “Subordinated Notes”) or, if the Subordinated Notes are not issued and sold on or prior to the date of
consummation of the Acquisition, $400 million in senior subordinated unsecured loans (the “Subordinated Bridge Loans” and, together with any Subordinated Rollover Loans and Subordinated Exchange Notes (each as defined in Annex III hereto),
the “Subordinated Bridge Facility”) and (e) available cash on hand of Silgan. The Subordinated Bridge Loans together with the Senior Bridge Loans are hereinafter collectively referred to as the “Bridge Loans”. The Senior Notes
and the Subordinated Notes are hereinafter collectively referred to as the “Notes”. The Subordinated Bridge Facility and the Senior Bridge Facility are hereinafter collectively referred to as the “Bridge Facilities”. The Bridge
Facilities together with the Credit Facilities are hereinafter collectively referred to as the “Facilities”. The Acquisition, the Refinancing, the entering into and funding of the Senior Credit Facilities, the issuance and sale of the
Notes or the entering into and funding of the Bridge Loans and all related transactions are hereinafter collectively referred to as the “Transaction”. The date of consummation of the Acquisition is referred to herein as the “Closing
Date”. 
 1. Commitments. In connection with the foregoing, (a) Bank of America is pleased to advise
you of its commitment to provide the full principal amount of each of the Senior Credit Facilities in the amounts set forth in clause (b) of the immediately preceding paragraph (in such capacity, the “Initial Senior Lender”) and its
willingness to act as the sole and exclusive syndication agent (in such capacity, the “Senior Syndication Agent”) for the Senior Credit Facilities, all upon the terms of this Commitment Letter and subject only to the conditions set forth
in the first sentence of Section 5 of this Commitment Letter and in Annex IV hereto (the “Funding Conditions”) (collectively, the “Senior Financing Summary of Terms”), (b) Merrill Lynch is pleased to advise you of its
willingness, and you hereby engage Merrill Lynch, to act as lead arranger and bookrunning manager (in such capacity, the “Senior Lead Arranger”) for the Senior Credit Facilities, and in connection therewith to form a syndicate of lenders
for the Senior Credit Facilities (collectively, the “Senior Lenders”) in consultation with you, including Bank of America, (c) Bank of America is pleased to advise you of its commitment to provide the full principal amount of the
Senior Bridge Loans (in such capacity, the “Initial Senior Bridge Lender”) and its willingness to act as the sole and exclusive syndication agent (in such capacity, the “Senior Bridge Syndication Agent”) for the Senior Bridge
Loans, all upon the terms of this Commitment Letter and subject only to the Funding Conditions (collectively, the “Senior Bridge Summary of Terms”), (d) Merrill Lynch is also pleased to advise you of its willingness, and you hereby
engage Merrill Lynch, to act as lead arranger and bookrunning manager (in such capacity, the “Senior Bridge Lead Arranger”) for the Senior Bridge Loans, and in connection therewith to form a syndicate of lenders for the Senior Bridge Loans
(collectively, the “Senior Bridge Lenders”) in consultation with you, including Bank of America, (e) Bank of America is pleased to advise you of its commitment to provide the full principal amount of the Senior Subordinated Bridge
Loans (in such capacity, the “Initial Subordinated Bridge Lender”, and, together with the Initial Senior Lender and Initial Senior Bridge Lender, the “Initial Lenders”) and its willingness to act as the sole and exclusive
syndication agent (in such capacity, the “Subordinated Bridge Syndication Agent”, and, together with the Senior Syndication Agent and the Senior Bridge Syndication Agent, each, a “Syndication Agent” and together, the
“Syndication Agents”) for the Subordinated Bridge Loans, all upon the terms of this Commitment Letter and subject only to the Funding Conditions (collectively, the “Subordinated Bridge Summary of Terms”, and, together with the

 -2- 
 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 

 

 

  
 Senior
Financing Summary of Terms and the Senior Bridge Summary of Terms, the “Summaries of Terms”), (f) Merrill Lynch is also pleased to advise you of its willingness, and you hereby engage Merrill Lynch, to act as lead arranger and
bookrunning manager (in such capacity, the “Subordinated Bridge Lead Arranger”) for the Subordinated Bridge Loans, and in connection therewith to form a syndicate of lenders for the Subordinated Bridge Loans (collectively, the
“Subordinated Bridge Lenders”, and, together with the Senior Lenders and the Senior Bridge Lenders, the “Lenders”) in consultation with you, including Bank of America. Merrill Lynch acting in its capacity as Senior Lead Arranger
and/or Senior Bridge Lead Arranger and/or Subordinated Bridge Lead Arranger is sometimes referred to herein as the “Lead Arranger”. This letter agreement, together with the Summaries of Terms, is herein called the “Commitment
Letter”. It is understood and agreed that Bank of America and Merrill Lynch will have “lead left” placement on all marketing materials relating to the Facilities and will perform the duties and exercise the authority customarily
performed and exercised by them in such role, including acting as sole manager of the physical books. You may appoint up to three additional financial institutions reasonably acceptable to us as additional lead arrangers (one of which may be
designated as having “lead left” placement on all marketing materials for the Senior Credit Facilities) (each a “Senior Joint Lead Arranger”, “Senior Bridge Joint Lead Arranger” or “Subordinated Bridge Joint Lead
Arranger” as applicable, and collectively with the Senior Lead Arranger, Senior Bridge Lead Arranger, or Subordinated Bridge Lead Arranger, as applicable, the “Senior Joint Lead Arrangers”, “Senior Bridge Joint Lead
Arrangers” or “Subordinated Bridge Joint Lead Arrangers” as applicable) and joint bookrunners (each a “Senior Joint Bookrunner”, “Senior Bridge Joint Bookrunner” or “Subordinated Bridge Joint Book-runner”
as applicable, and collectively with Merrill Lynch in its capacity as bookrunner for the Senior Secured Facility, the Senior Bridge Facility, or Subordinated Bridge Facility, as applicable, the “Senior Joint Bookrunners”, “Senior
Bridge Joint Bookrunners” or “Subordinated Bridge Joint Bookrunners” as applicable) for each of the Facilities in a manner and with economics determined by you in consultation with the Lead Arranger; provided that after giving effect
to such appointments, (x) no such financial institution shall be allocated economics in excess of that allocated to Bank of America, (y) Bank of Amer-ica shall retain no less than 45% of the economics with respect to each tranche of the
Senior Credit Facilities and 100% of the economics with respect to the Bridge Facilities and (z) if such financial institution is receiving any economics with respect to any tranche of the Senior Credit Facilities, such financial institution
shall have committed to provide a pro rata portion of each tranche of the Senior Credit Facilities equal to the economics allocated to it with respect to the Senior Credit Facilities. No other compensation shall be paid by Silgan in connection with
the Facilities except as set forth in this Commitment Letter and the Fee Letter (as hereinafter defined). The commitments of the Initial Lenders in respect of the Facilities and the undertaking of the Lead Arranger to provide the services described
herein are subject to the satisfaction of each of the conditions precedent set forth herein and in the Summaries of Terms. All capitalized terms used and not otherwise defined herein shall have the same meanings as specified therefor in the
Summaries of Terms. 
 2. Syndication. The Lead Arranger intends to commence syndication of the Facilities
promptly after your acceptance of the terms of this Commitment Letter and the Fee Letter. You agree to actively assist, and to use your commercially reasonable efforts to cause the Acquired Business and its subsidiaries to actively assist, the Lead
Arranger in achieving a syndication of each such Facility that is satisfactory to the Lead Arranger. Such assistance shall include (a) your providing and causing your advisors to provide, and using your commercially reasonable efforts to cause
the Acquired Business, its subsidiaries and its advisors to provide, the Lead Arranger and the Lenders upon request with all information reasonably deemed necessary by the Lead Arranger to complete such syndication, including, but not limited to,
information and evaluations prepared by you, the Acquired Business and your and its advisors, or on your or its behalf, relating to the Transaction (including the Projections (as hereinafter defined), (b) your preparation, within 20 business
days of the date hereof, of an information memorandum with respect to each of the Facilities in form and substance customary for transactions of this type and otherwise reasonably 

-3- 
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 satisfactory to
the Lead Arranger (each, an “Information Memorandum”) and other customary materials to be used in connection with the syndication of each such Facility (collectively with the Summaries of Terms and any additional summary of terms prepared
for distribution to Public Lenders (as hereinafter defined)), the “Information Materials”), (c) your using your commercially reasonable efforts to ensure that the syndication efforts of the Lead Arranger benefit from your existing
lending relationships and the existing banking relationships of the Acquired Business, (d) your using your commercially reasonable efforts to obtain monitored public corporate credit or family ratings of Silgan after giving effect to the
Transaction and ratings of the Senior Credit Facilities, the Senior Bridge Loans, the Subordinated Bridge Loans, and the Senior Notes and the Subordinated Notes from Moody’s Investors Service, Inc. (“Moody’s”) and
Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) (collectively, the “Ratings”) and (e) your otherwise assisting the Lead Arranger in its syndication efforts, including by making your
officers and advisors, and using your commercially reasonable efforts to make the officers and advisors of the Acquired Business, available from time to time to attend and make presentations regarding the business and prospects of the Companies and
the Transaction at one or more meetings of prospective Lenders. 
 It is understood and agreed that none of the
Companies shall syndicate or issue, attempt to syndicate or issue, announce or authorize the announcement of the syndication or issuance of, or engage in discussions concerning the syndication or issuance of, any debt of the Companies (other than
the Facilities and the Notes), including any renewals or refinancings of any existing debt, without the prior written consent of the Lead Arranger (it being understood that this condition shall survive the Closing Date as a covenant until the
Successful Syndication (as defined in the Fee Letter) of the Facilities). It is further understood and agreed that the Lead Arranger will manage and control all aspects of the syndication of the Facilities in consultation with you, including
decisions as to the selection of prospective Lenders and any titles offered to proposed Lenders, when commitments will be accepted and the final allocations of the commitments among the Lenders. It is understood that no Lender participating in the
Facilities will receive compensation from you in order to obtain its commitment, except on the terms contained herein and in the Summaries of Terms. It is also understood and agreed that the amount and distribution of the fees among the Lenders will
be at the sole and absolute discretion of the Lead Arranger. 
 Without limiting your obligation to assist with
the syndication efforts as set forth above, it is understood and agreed that the commitments of the Initial Lenders hereunder are not subject to the commencement or completion of the syndication of the Facilities or any of them. 

3. Information Requirements. You hereby represent, warrant and covenant that (a) all written information, other than
Projections (as defined below), that has been or is hereafter made available to the Lead Arranger or any of the Lenders by or on behalf of you or any of your representatives or, to our knowledge, by or on behalf of the Acquired Business or any of
its representatives in connection with any aspect of the Transaction (the “Information”) is or will, when furnished, be, taken as a whole (and after giving effect to all supplements and updates thereto), complete and correct in all
material respects and does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not misleading and (b) all financial projections concerning the
Companies that have been or are hereafter made available to the Lead Arranger or any of the Lenders by or on behalf of you or any of your representatives or, to our knowledge, by or on behalf of the Acquired Business or its representatives (the
“Projections”) have been or will be prepared in good faith based upon assumptions that you believe to be reasonable at the time made and at the time such Projections are made available to the Lead Arranger or any of the Lenders, it being
recognized by the Lead Arranger and the Lenders that such Projections are not to be viewed as facts, are subject to significant uncertainties, that actual results during the period or periods covered by any such Projections may differ from the
projected results and such differences may be material, and that no assurance can be given that the projected results will be realized. You agree that if at any time prior to the Closing Date and, if requested 

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189 

 

 

  
 by us, for such
period thereafter as is necessary to complete the syndication of the Facilities any of the representations in the preceding sentence would be incorrect in any material respect if the Information and Projections were being prepared and furnished, and
such representations were being made, at such time, then you will promptly supplement, or cause to be supplemented, the Information and Projections so that such representations will be correct at such time. In issuing this commitment and in
arranging and syndicating each of the Facilities, the Commitment Parties are and will be using and relying on the Information and the Projections without independent verification thereof. The Information and Projections provided to the Lead Arranger
prior to the date hereof are hereinafter referred to as the “Pre-Commitment Information”. 
 You
acknowledge that (a) the Lead Arranger on your behalf will make available Information Materials to the proposed syndicate of Lenders by posting the Information Materials on IntraLinks or another similar electronic system and (b) certain
prospective Lenders (such Lenders, “Public Lenders”; all other Lenders, “Private Lenders”) may have personnel that do not wish to receive material non-public information (within the meaning of the United States federal securities
laws, “MNPI”) with respect to the Companies, their respective affiliates or any other entity, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to
such entities’ securities. If requested, you will assist us in preparing an additional version of the Information Materials not containing MNPI (the “Public Information Materials”) to be distributed to prospective Public Lenders.

 Before distribution of any Information Materials (a) to prospective Private Lenders, you shall provide us
with a customary letter authorizing the dissemination of the Information Materials and (b) to prospective Public Lenders, you shall provide us with a customary letter authorizing the dissemination of the Public Information Materials and
confirming the absence of MNPI therefrom. In addition, at our request, you shall identify Public Information Materials by clearly and conspicuously marking the same as “PUBLIC”. 

You agree that the Lead Arranger on your behalf may distribute the following documents to all prospective Lenders, unless
you advise the Lead Arranger in writing (including by email) within a reasonable time prior to their intended distributions that such material should only be distributed to prospective Private Lenders: (a) administrative materials for
prospective Lenders such as lender meeting invitations and funding and closing memoranda, (b) notifications of changes to the terms of the Facilities and (c) other materials intended for prospective Lenders after the initial distribution
of the Information Materials, including drafts and final versions of definitive documents with respect to the Facilities. If you advise us that any of the foregoing items should be distributed only to Private Lenders, then the Lead Arranger will not
distribute such materials to Public Lenders without further discussions with you. You agree that Information Materials made available to prospective Public Lenders in accordance with this Commitment Letter shall not contain MNPI. 

4. Fees and Indemnities. 
 (a) You agree to pay the fees set forth in the separate fee letter addressed to you dated the date hereof from the Commitment Parties (the “Fee Letter”). You also agree to
reimburse the Commitment Parties from time to time on demand for all reasonable out-of-pocket fees and expenses (including, but not limited to, the reasonable fees, disbursements and other charges of a single law firm as counsel to the Lead
Arranger, the Senior Syndication Agent, the Senior Bridge Syndication Agent and the Subordinated Bridge Syndication Agent, and of any local counsel to the Lenders retained by the Lead Arranger and due diligence expenses) incurred in connection with
the Facilities, the syndication thereof, the preparation of the Credit Documentation therefor and the other transactions contemplated hereby, whether or not the Closing Date occurs or any Credit Documentation is executed and delivered or any
extensions of 
 -5- 
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 credit are made
under either of the Facilities. You acknowledge that we may receive a benefit, including without limitation, a discount, credit or other accommodation, from any of such counsel based on the fees such counsel may receive on account of their
relationship with us including, without limitation, fees paid pursuant hereto. 
 (b) You also agree to indemnify
and hold harmless each of the Commitment Parties, the Syndication Agents, the Lead Arranger, each Joint Bookrunner, each Joint Lead Arranger, each other Lender and each of their affiliates, successors and assigns and their respective officers,
directors, employees, agents, advisors and other representatives (each, an “Indemnified Party”) from and against (and will reimburse each Indemnified Party as the same are incurred for) any and all claims, damages, losses, liabilities and
expenses (including, without limitation, the reasonable fees, disbursements and other charges of counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of
(including, without limitation, in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith) (a) any aspect of the Transaction and any of the other transactions contemplated thereby or
(b) the Facilities, or any use made or proposed to be made with the proceeds thereof (in all cases, whether or not caused or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnified Party), except
to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, willful misconduct or bad faith. In
the case of any claim, litigation, investigation or proceeding (any of the foregoing, a “Proceeding”) to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such Proceeding is brought by you,
your equity holders or creditors or an Indemnified Party, whether or not an Indemnified Party is otherwise a party thereto and whether or not any aspect of the Transaction is consummated. You also agree that no Indemnified Party shall have any
liability (whether direct or indirect, in contract or tort or otherwise) to you, the or your subsidiaries or affiliates or to your respective equity holders or creditors or any other person arising out of, related to or in connection with any aspect
of the Transaction, except to the extent of direct (as opposed to special, indirect, consequential or punitive) damages determined in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified
Party’s gross negligence, willful misconduct or bad faith. It is further agreed that the Commitment Parties shall only have liability to you (as opposed to any other person), and that the Commitment Parties shall be severally liable solely in
respect of their respective commitments to the Facilities, on a several, and not joint, basis with any other Lender, and that such liability shall only arise to the extent damages have been caused by breach of the Commitment Parties’ respective
obligations hereunder to negotiate in good faith the Credit Documentation on the terms set forth in this Commitment Letter and the Fee Letter, as determined in a final, non-appealable judgment by a court of competent jurisdiction. Notwithstanding
any other provision of this Commitment Letter, no Indemnified Party shall be liable for any damages arising from the use by others of information or other materials obtained through electronic telecommunications or other information transmission
systems, other than for direct, actual damages resulting from the gross negligence, willful misconduct or bad faith of such Indemnified Party as determined by a final, non-appealable judgment of a court of competent jurisdiction. You shall not,
without the prior written consent of an Indemnified Party (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or threatened Proceeding against an Indemnified Party in respect of which indemnity could
have been sought hereunder by such Indemnified Party unless (i) such settlement includes an unconditional release of such Indemnified Party from all liability or claims that are the subject matter of such Proceeding and (ii) does not
include any statement as to any admission. You shall not be responsible or liable for any indirect, special, exemplary, incidental, punitive or consequential damages (including, without limitation, any loss of profits, business or anticipated
savings) which may be alleged as a result of this letter, the Fee Letter or the financing contemplated hereby except to the extent such damages would otherwise be subject to indemnification pursuant to the terms of this paragraph. 

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283 284 

 

 

  
 5. Conditions
to Financing. The commitment of the Initial Senior Lender in respect of the Senior Credit Facilities, the commitment of the Initial Senior Bridge Lender in respect of the Senior Bridge Loans, the commitment of the Initial Subordinated Bridge Lender
in respect of the Subordinated Bridge Loans and the undertaking of the Lead Arranger to provide the services described herein are subject to the satisfaction of each of the conditions set forth in Annex IV hereto and to the negotiation, execution
and delivery of definitive documentation with respect to each such Facility consistent with this Commitment Letter and Section 3 of the Fee Letter (the “Credit Documentation”), it being understood and agreed that there are no
conditions (implied or otherwise) to the commitments hereunder (including compliance with the terms of the Commitment Letter, Fee Letter and Credit Documentation) other than the Funding Conditions and, upon satisfaction of the Funding Conditions,
the initial funding under the Facilities shall occur. 
 Notwithstanding anything in this Commitment Letter, the
Fee Letter, the Credit Documentation or any other letter agreement or other undertaking concerning the financing of the Transaction to the contrary, the only representations relating to the Acquired Business, its subsidiaries and its businesses the
accuracy of which shall be a condition to the availability of the Facilities on the Closing Date shall be (i) the representations made by or with respect to the Acquired Business and its subsidiaries in the Acquisition Agreement (as hereinafter
defined) as are material to the interests of the Lenders, but only to the extent that you have the right to terminate your obligations under the Acquisition Agreement, or to decline to consummate the Acquisition pursuant to the Acquisition
Agreement, as a result of a breach of such representations in the Acquisition Agreement (the “Acquisition Agreement Representations”) and (ii) the Specified Representations (as hereinafter defined). For purposes hereof,
“Specified Representations” means the representations and warranties set forth in the Credit Documentation relating to corporate status, corporate power and authority to enter into the Credit Documentation, due authorization, execution,
delivery and enforceability of the Credit Documentation, no conflicts with or consents under laws or the charter documents of Silgan and its subsidiaries (in each case with respect to the Transaction) (other than consents that have been obtained),
solvency, absence of litigation with respect to the Facilities or the Notes, Federal Reserve margin regulations, the U.S.A. Patriot Act, the Investment Company Act, status of the Senior Credit Facility and Senior Bridge Facility as senior debt, the
creation, validity, priority and perfection of the security interests granted in the intended collateral (it being understood that to the extent any security interest in the intended collateral (other than any collateral the security interest in
which may be perfected by the filing of a UCC financing statement, the filing of short-form security agreements with the United States Patent and Trademark Office or the United States Copyright Office or the delivery of certificates evidencing
equity interests) is not provided on the Closing Date after your use of commercially reasonable efforts to do so, the provision of such perfected security interest(s) shall not constitute a condition precedent to the availability of the Facilities
on the Closing Date but shall be required to be delivered after the Closing Date pursuant to arrangements to be mutually agreed). It is understood and agreed that the terms of the Credit Documentation and the closing deliverables enumerated in Annex
IV shall be in a form such that they do not impair the availability of the Facilities on the Closing Date if the Funding Conditions are satisfied. This paragraph is referred to as the “Funding Provision.” 

6. Confidentiality and Other Obligations. This Commitment Letter and the Fee Letter and the contents hereof and thereof
are confidential and, may not be disclosed in whole or in part to any person or entity without our prior written consent except (i) on a confidential basis to your accountants, attorneys and other professional advisors in connection with the
Transactions, (ii) pursuant to the order of any court or administrative agency in any pending legal or administrative proceeding, or otherwise as required by applicable law or compulsory legal process based on the advice of your legal counsel
(in which case you agree to inform us promptly thereof, to the extent not prohibited by law, rule or regulations), and (iii) this Commitment Letter and the Fee Letter (redacted in a customary manner) may be disclosed on a confidential basis to
the board of directors, attorneys, independent auditors, and advisors of the Acquired Business in connection with their consideration of the Transaction, and (iv) to the extent that 

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332 333 

 

 

  
 such
information becomes publicly available other than by reason of disclosure in violation of this agreement by the Commitment Parties. 
 The Commitment Parties shall use all confidential information provided to them by or on behalf of you hereunder solely for the purpose of providing the services which are the subject of
this letter agreement and otherwise in connection with the Transactions and shall treat confidentially all such information; provided, however, that nothing herein shall prevent the Commitment Parties from disclosing any such information
(i) pursuant to the order of any court or administrative agency or in any pending legal or administrative proceeding, or otherwise as required by applicable law or compulsory legal process (in which case the Commitment Parties agree to inform
you promptly thereof prior to such disclosure to the extent not prohibited by law, rule or regulation), (ii) upon the request or demand of any regulatory authority having jurisdiction over the Commitment Parties or any of their respective
affiliates, (iii) to the extent that such information becomes publicly available other than by reason of disclosure in violation of this agreement by the Commitment Parties, (iv) to the Commitment Parties’ affiliates, employees, legal
counsel, independent auditors and other experts or agents who need to know such information in connection with the Transactions and are informed of the confidential nature of such information, (v) for purposes of establishing a “due
diligence” defense, (vi) to the extent that such information is received by the Commitment Parties from a third party that is not to the Commitment Parties’ knowledge subject to confidentiality obligations to you, (vii) to the
extent that such information is independently developed by the Commitment Parties or (viii) to potential Lenders, participants or assignees who agree to be bound by the terms of this paragraph (or language substantially similar to this
paragraph or as otherwise reasonably acceptable to you and each Commitment Party, including as may be agreed in any confidential information memorandum or other marketing material). This paragraph shall terminate on the first anniversary of the date
hereof. 
 You acknowledge that the Commitment Parties or their affiliates may be providing financing or other
services to parties whose interests may conflict with yours. The Commitment Parties agree that they will not furnish confidential information obtained from you to any of their other customers and will treat confidential information relating to the
Companies and their respective affiliates with the same degree of care as they treat their own confidential information. The Commitment Parties further advise you that they will not make available to you confidential information that they have
obtained or may obtain from any other customer. In connection with the services and transactions contemplated hereby, you agree that the Commitment Parties are permitted to access, use and share with any of their bank or non-bank affiliates, agents,
advisors (legal or otherwise) or representatives who need to know such information in connection with the services and transactions contemplated hereby, any information concerning the Companies or any of their respective affiliates that is or may
come into the possession of the Commitment Parties or any of such affiliates. 
 In connection with all aspects
of each transaction contemplated by this Commitment Letter, you acknowledge and agree, and acknowledge your affiliates’ understanding, that: (i) each of the Facilities and any related arranging or other services described in this
Commitment Letter is an arm’s-length commercial transaction between you and your affiliates, on the one hand, and the Commitment Parties, on the other hand, (ii) the Commitment Parties have not provided any legal, accounting, regulatory or
tax advice with respect to any of the transactions contemplated hereby and you have consulted your own legal, accounting, regulatory and tax advisors to the extent you have deemed appropriate, (iii) you are capable of evaluating, and understand
and accept, the terms, risks and conditions of the transactions contemplated hereby, (iv) in connection with each transaction contemplated hereby and the process leading to such transaction, each of the Commitment Parties has been, is, and will
be acting solely as a principal and, except as otherwise expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary, for you or any of your affiliates, stockholders, creditors
or employees or any other party, (v) the Commitment Parties have not assumed and will not assume an advisory, 
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 agency or
fiduciary responsibility in your or your affiliates’ favor with respect to any of the transactions contemplated hereby or the process leading thereto (irrespective of whether any of the Commitment Parties has advised or is currently advising
you or your affiliates on other matters) and the Commitment Parties have no obligation to you or your affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth in this Commitment Letter and
(vi) the Commitment Parties and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from yours and those of your affiliates, and the Commitment Parties have no obligation to disclose
any of such interests to you or your affiliates. To the fullest extent permitted by law, you hereby waive and release any claims that you may have against the Commitment Parties with respect to any breach or alleged breach of agency or fiduciary
duty in connection with any aspect of any transaction contemplated by this Commitment Letter. 
 The Commitment
Parties hereby notify you that pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “U.S.A. Patriot Act”), each of them is required to obtain, verify and record
information that identifies you, which information includes your name and address and other information that will allow the Commitment Parties, as applicable, to identify you in accordance with the U.S.A. Patriot Act. 

7. Survival of Obligations. The provisions of Sections 2, 3, 4, 6 and 8 shall remain in full force and effect regardless
of whether any Credit Documentation shall be executed and delivered and notwithstanding the termination of this Commitment Letter or any commitment or undertaking of the Commitment Parties hereunder, except that the provisions of paragraphs 2 and 3
shall not survive if the commitments and undertakings of the Commitment Parties are terminated prior to the effectiveness of the Senior Credit Facilities and funding of the Bridge Facility. 

8. Miscellaneous. This Commitment Letter and the Fee Letter may be executed in multiple counterparts and by different
parties hereto in separate counterparts, all of which, taken together, shall constitute an original. Delivery of an executed counterpart of a signature page to this Commitment Letter or the Fee Letter by telecopier, facsimile or other electronic
transmission (e.g., a “pdf” or “tiff”) shall be effective as delivery of a manually executed counterpart thereof. Headings are for convenience of reference only and shall not affect the construction of, or be taken into
consideration when interpreting, this Commitment Letter or the Fee Letter. 
 This Commitment Letter and the Fee
Letter shall be governed by, and construed in accordance with, the laws of the State of New York. Each party hereto hereby irrevocably waives any and all right to trial by jury in any action, proceeding or counterclaim (whether based on contract,
tort or otherwise) arising out of or relating to this Commitment Letter, the Fee Letter, the Transaction and the other transactions contemplated hereby and thereby or the actions of the Commitment Parties in the negotiation, performance or
enforcement hereof. Each party hereto hereby irrevocably and unconditionally submits to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in the Borough of Manhattan in New York City in
respect of any suit, action or proceeding arising out of or relating to the provisions of this Commitment Letter, the Fee Letter, the Transaction and the other transactions contemplated hereby and thereby and irrevocably agrees that all claims in
respect of any such suit, action or proceeding may be heard and determined in any such court. The parties hereto agree that service of any process, summons, notice or document by registered mail addressed to you shall be effective service of process
against you for any suit, action or proceeding relating to any such dispute. Each party hereto waives, to the fullest extent permitted by applicable law, any objection that it may now or hereafter have to the laying of the venue of any such suit,
action or proceedings brought in any such court, and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. A final judgment in any such suit, action or proceeding brought in any such

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court may be enforced in any other courts to whose jurisdiction you are or may be subject by suit upon judgment. 
 This Commitment Letter, together with the Fee Letter, embodies the entire agreement and understanding among the parties hereto and your affiliates with respect to the Facilities and
supersedes all prior agreements and understandings relating to the subject matter hereof. No party has been authorized by the Commitment Parties to make any oral or written statements that are inconsistent with this Commitment Letter. Neither this
Commitment Letter (including the attachments hereto) nor the Fee Letter may be amended or any term or provision hereof or thereof waived or modified except by an instrument in writing signed by each of the parties hereto. 

This Commitment Letter may not be assigned by you without our prior written consent (and any purported assignment without
such consent will be null and void), is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any person other than the parties hereto (and the Indemnified
Parties). Each Commitment Party may assign its commitment hereunder, in whole or in part, to any of its affiliates. 
 Please indicate your acceptance of the terms of the Facilities set forth in this Commitment Letter and the Fee Letter by returning to us executed counterparts of this Commitment Letter and
the Fee Letter not later than 5:00 p.m. (New York City time) on April 13, 2011, whereupon the undertakings of the parties with respect to the Facilities shall become effective to the extent and in the manner provided hereby. This offer shall
terminate with respect to the Facilities if not so accepted by you at or prior to that time. Thereafter, all commitments and undertakings of the Commitment Parties hereunder will expire on the earliest of (a) January 20, 2012, unless the
Closing Date occurs on or prior thereto, (b) the closing of the Acquisition without the use of the Senior Credit Facilities and the Subordinated Bridge Facility, (c) the acceptance by the Acquired Business or any of its affiliates of an
offer for all or any substantial part of the capital stock or property and assets of the Acquired Business or any of its subsidiaries, other than as part of the Transaction, and (d) the termination of the Acquisition Agreement. If the Closing
Date occurs and the Senior Credit Facility and the Subordinated Bridge Loans (or the Subordinated Notes) are funded or issued, then the commitments of the Senior Bridge Lenders shall survive until the later of the Change of Control Purchase Date (as
defined in the indenture governing the Existing Senior Notes) and the expiration of the Change of Control Offer period in respect of the Put. 
 [The remainder of this page intentionally left blank.] 
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439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 

 We are pleased to have the opportunity to work with you in connection with this important
financing. 
  

					
	Very truly yours,
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Michael Grimes

	 	 	Name:	 	Michael Grimes
	 	 	Title:	 	Director

					
	
	MERRIL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	By:	 	 /s/ Michael Grimes

	 	 	Name:	 	Michael Grimes
	 	 	Title:	 	Director

  

 
  
 Signature Page to Commitment Letter 

							
	470	    	The provisions of this Commitment Letter are
	471	    	accepted and agreed to as of the date first written
	472	    	above:

							
		
	473	    	SILGAN HOLDINGS INC.
			
	474	    	By:	 	/s/ Robert B. Lewis

	475	    	 	 	Name:	 	Robert B. Lewis
	476	    	 	 	Title:	 	Executive Vice President and Chief Financial Officer

 
  
  

 
  
  

 
  
  

Signature Page to Commitment Letter 

 

 

  
 ANNEX I

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR CREDIT FACILITIES 
 Capitalized terms not
otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex I is attached. In this Commitment Letter, including the Annexes thereto, the phrase “substantially consistent with the provisions
of the Existing Bank Credit Documentation” means substantially consistent with the senior bank credit agreement of Silgan as in effect on the date hereof (the “Existing Bank Credit Agreement”) and the related credit and collateral
documentation, in each case subject to modifications (i) reasonably determined by the Lead Arranger in consultation with Silgan to be necessary in order to ensure a Successful Syndication (as defined in the Fee Letter) of the Facilities,
(ii) to reflect the Acquisition, the size of the business of Silgan and its subsidiaries pro forma for the Acquisition, the structure of the new senior secured credit facilities, prevailing market conditions and the operational requirements of
Silgan upon consummation of the Transaction as may be agreed to by the Lead Arranger and Silgan and (iii) with such improvements in favor of the Borrowers as may be agreed to by the Lead Arranger and Silgan (it being understood that the
provisions of Section 3 of the Fee Letter shall govern the modifications that may be made with respect to those terms that are the subject of such Section 3). 
 Borrower: 
 Silgan Holdings Inc.
(“Silgan”), Silgan Containers LLC (“Containers”), Silgan Plastics LLC (“Plastics”), Silgan Containers Manufacturing Corporation (“Manufacturing”), Silgan Can Company (“CanCo”), Silgan Plastics Canada
Inc. (“Canada”) and such other Revolving Borrowers (as defined below) as may be party to the credit agreement governing the Senior Credit Facilities (the “Credit Agreement”) from time to time, (together with Silgan, Containers,
Plastics, Manufacturing, CanCo, Canada and each other Revolving Borrower, the “Borrowers” and each individually, a “Borrower”). 
 “Revolving Borrowers” means Containers, Plastics, CanCo, and one or more other wholly-owned subsidiaries of Silgan approved by the Administrative Agent and on a basis
substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Guarantors:

 Silgan, each other Borrower (except as provided below) and each other existing or newly created or acquired
subsidiary of Silgan which is directly or indirectly owned by Silgan (collectively, the “Credit Parties”) shall be required to provide an unconditional guaranty of all amounts owing under the Senior Credit Facilities, subject to exceptions
substantially consistent with the provisions of the Existing Bank Credit Documentation. Any special purpose subsidiary of Silgan formed to enter into a receivables securitization financing (such financing, the “Receivables Financing”)
shall not be required to enter into any guaranty of the Senior Credit Facilities, CanCo shall not be required to guaranty the obligations of the other Borrowers to the extent that the terms of the Campbell Can Acquisition Documents (as defined in
the Existing Bank Credit Agreement) prohibit such a guaranty, no foreign subsidiary of Silgan shall be required to guaranty the obligations of Silgan or any U.S. subsidiary of Silgan under the Senior Credit Facilities and guaranties by foreign
subsidiaries of Silgan shall otherwise be provided on a 
 Annex I-1 

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 basis
substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Administrative and
Collateral Agent: 
 A financial institution selected by the Initial Senior Lender, acceptable to the Lead
Arranger and Silgan, will act as sole and exclusive administrative and collateral agent for the Senior Lenders (the “Administrative Agent”). 
 Lead Arranger and Bookrunning Manager: 
 Merrill
Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) will act as lead arranger and bookrunning manager for the Senior Credit Facilities (the “Senior Lead Arranger”). Silgan may appoint up to two additional joint lead
arrangers and joint bookrunners, reasonably acceptable to Merrill Lynch, for the Senior Credit Facilities (together with the Senior Lead Arranger, each a “Senior Joint Lead Arranger”). 

Syndication Agent: 
 Bank of America, N.A. (“Bank of America”). 
 Senior Lenders: 
 Bank of America and other banks,
financial institutions and institutional lenders selected by the Senior Lead Arranger in consultation with Silgan. 
 Senior Credit Facilities: 
 An aggregate principal
amount of up to $4,000 million will be available through the following facilities (it being understood and agreed that the Initial Senior Lender and Silgan may mutually agree to change the allocation between the Term A Facility and the Term B
Facility): 
 Term A Facility: $900 million in term loan “A” facilities, all of which will be drawn on
the Closing Date, in U.S. Dollars with Silgan as Borrower, and in foreign currencies (including, without limitation, Euros, Pounds Sterling and Canadian Dollars) and with other Borrowers to be determined by mutual agreement of the Lead Arranger and
Silgan. 
 Term B Facility: a $2,300 million term loan facility with Silgan as the borrower, all of which will be
drawn on the Closing Date (together with the Term A Facilities, the “Term Loan Facilities”). 

Revolving Credit Facility: an $800 million multicurrency revolving credit facility, available to Silgan and the other
Revolving Borrowers (provided, that no more than $75 million of the Revolving Credit Facility may be utilized by CanCo) from time to time on or after the Closing Date until the Revolving Credit Facility Maturity Date, and to include a sublimit to be
determined for the issuance of standby and commercial letters of credit (each, a “Letter of Credit”) and a sublimit for swingline loans (each, a “Swingline Loan”). Letters of Credit will be initially issued by Bank of America (in
such capacity, the “Issuing Bank”), and each of the Senior Lenders under the Revolving Credit Facility will 
 Annex I-2 
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 purchase an
irrevocable and unconditional participation in each Letter of Credit and each Swingline Loan. Letters of Credit may be issued on the Closing Date in order to backstop, roll over or replace letters of credit outstanding under the existing credit
facility of Silgan. 
 Borrowings under the Revolving Credit Facility will be available in U.S. Dollars and other
foreign currencies (including, without limitation, Euros, Pounds Sterling and Canadian Dollars) to be determined on a basis substantially consistent with the provisions of the Existing Bank Credit Documentation; provided, however, that no more than
$500 million (determined on a U.S. Dollar equivalent basis) in the aggregate of the Revolving Credit Facility may be incurred in Euros and Pounds Sterling. 
 Swingline Option: 
 Bank of America, N.A., in its
capacity as the swingline lender, may make Swingline Loans available on a same day basis. Silgan must repay each Swingline Loan in full no later than ten (10) business days after such loan is made. 

Purpose: 
 The proceeds of the borrowings under the Senior Credit Facilities on the Closing Date, together with proceeds from the Notes or the Bridge Facilities, shall be used (i) to finance in part
the Acquisition, (ii) to refinance in full the Existing Bank Credit Agreement of Silgan and the existing senior bank credit agreement of the Acquired Business and (iii) to pay fees and expenses incurred in connection with the Transaction. The
proceeds of the Revolving Credit Facility shall be used to provide ongoing working capital and for other general corporate purposes of Silgan and its subsidiaries, including without limitation for permitted acquisitions. 

Interest Rates: 
 At the respective Borrower’s option, Loans denominated in U.S. Dollars may be maintained from time to time as (x) Base Rate Loans, which shall bear interest at the Base Rate in effect
from time to time plus the Applicable Margin (as defined below) or (y) Eurodollar Loans, which shall bear interest at the Eurodollar Rate (adjusted for maximum reserves) as determined by the Administrative Agent for the respective interest period
plus the Applicable Margin. “Base Rate”, “B/A Discount Rate”, “Canadian Prime Rate”, “Eurodollar Rate” and “Euro Rate” will be defined and calculated on a basis substantially consistent with the
provisions of the Existing Credit Documentation; provided that (i) Base Rate will be deemed to be not less than 100 basis points higher than the one-month Eurodollar Rate, and (ii) with respect to the Term B Facility, the Eurodollar Rate will be
deemed to be not less than 1.00% per annum. 
 “Applicable Margin” means (a) with respect to the Term A
Facility and the Revolving Credit Facility, 2.50% per annum, in the case of Euro Rate Loans and B/A Discount Rate Loans, and 1.50% per annum, in the case of Base Rate Loans or Canadian Prime Rate Loans, or in each case such lesser percentage as
shall be set forth in a pricing grid to be agreed, and (b) with respect to the Term B Facility, 3.25% per annum, 

Annex I-3 
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 in the case of
Euro Rate Loans and B/A Discount Rate Loans, and 2.25% per annum, in the case of Base Rate Loans or Canadian Prime Rate Loans. 
 Each Swingline Loan shall bear interest at the Base Rate plus the Applicable Margin for Base Rate loans under the Revolving Credit Facility. 

Silgan may select interest periods of one, two, three or six months (and, to the extent available to all Lenders with
obligations in respect of the applicable tranche of Loans, twelve-months or a period of less than one month) for Euro Rate advances. Interest shall be payable at the end of the selected interest period, but no less frequently than quarterly.

 Overdue principal and, to the extent permitted by law, (i) overdue interest in respect of each Loan and any
other overdue amount shall bear interest at a rate per annum equal to the greater of (x) the rate which is 2% in excess of the rate otherwise applicable to Base Rate Loans maintained pursuant to the respective tranche from time to time and (y) the
rate which is 2% in excess of the rate then borne by the applicable Loans and (ii) all other overdue amounts payable under this Agreement or under any other Credit Document shall bear interest at a rate per annum which is 2% in excess of the rate
applicable to Base Rate Loans under the Revolving Credit Facility. Default interest shall be payable on demand. 

Commitment Fee: 
 Commencing on the Closing Date, a commitment fee of 0.50% per annum (calculated on a 360-day basis) shall be payable on the actual daily unused portions of the Revolving Credit Facility,
such fee to be payable quarterly in arrears and on the date of termination or expiration of the commitments. Swingline Loans will not be considered utilization of the Revolving Credit Facility for purposes of this calculation. 

Calculation of Interest and Fees: 
 All interest and commitment commission and other fee calculations shall be based on a 360-day year and actual days elapsed for all fees and Loans other than Base Rate Loans determined by
reference to the prime lending rates, which shall be based on a 365 or 366 day year, as applicable, and actual days elapsed. 
 Cost and Yield Protection: 
 Customary for
transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality,
unavailability, reserves without proration or offset and payments free and clear of withholding or other taxes. 

Letter of Credit Fees: 
 Letter of Credit fees equal to the Applicable Margin from time to time on LIBOR advances under the Revolving Credit Facility on a per annum basis will be payable quarterly in arrears and
shared proportionately by the Senior Lenders under the Revolving Credit Facility. In addition, 
 Annex I-4

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 a fronting fee
equal to the greater of (x) US$500 per annum and (y) 0.25% per annum will be payable to the Issuing Bank for its own account, as well as customary issuance and documentary fees. Both the Letter of Credit fees and the fronting fees will be calculated
on the amount available to be drawn under each outstanding Letter of Credit. 
 Maturity: 

Term A Facility Maturity Date: 6 years after the Closing Date, provided that if the existing senior notes of Silgan due
2016 or the existing senior notes of the Acquired Business due 2017 have not been refinanced in full on or before July 7, 2016, then the Term A Facility will mature on such date. 

Term B Facility Maturity Date: 7 years after the Closing Date. 

Revolving Credit Facility Maturity Date: 5 years after the Closing Date. 

Incremental Facilities: 
 The Credit Documentation will permit Silgan to add one or more incremental term loan facilities to the Credit Facilities (each, an “Incremental Term Facility”) and/or increase
commitments under the Revolving Credit Facility (any such increase, an “Incremental Revolving Facility”; the Incremental Term Facilities and the Incremental Revolving Facilities are collectively referred to as “Incremental
Facilities”) in an aggregate amount of up to US$750 million; provided that (i) no Lender will be required to participate in any such Incremental Facility, (ii) no event of default or default exists or would exist after giving effect thereto,
(iii) the representations and warranties in the Credit Documentation shall be true and correct in all material respects, (iv) on a pro forma basis on the date of incurrence and after giving effect thereto (assuming, in the case of an Incremental
Revolving Facility, the full drawing thereunder), all financial covenants would be satisfied, (v) the maturity date of any such Incremental Term Facility shall be no earlier than the maturity date for the Term B Facility, (vi) the weighted average
life to maturity of any Incremental Term Facility shall be no shorter than the weighted average life to maturity of the Term B Facility, (vii) the interest margins for the Incremental Term Facility shall be determined by Silgan and the lenders of
the Incremental Term Facility; provided, that in the event that the interest margins for any Incremental Term Facility are greater than the Applicable Margins for the Term B Facility by more than 0.50%, then the Applicable Margins for the Term B
Facility shall be increased to the extent necessary so that the interest margins for the Incremental Term Facility are not more than 0.50% higher than the Applicable Margins for the Term Facility, and the Applicable Margins for the Revolving Credit
Facility and the Term A Facility shall be increased by a like amount; provided, further, that in determining the interest margins applicable to the Term B Facility and the Applicable Margins for the Incremental Term Facility, (x) original issue
discount (“OID”) or upfront fees (which shall be deemed to constitute like amounts of OID) payable by the applicable Borrower for the account 
 Annex I-5 
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665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 

 

 

  
 of the Lenders
of the Term B Facility or the Incremental Term Facility in the primary syndication thereof shall be included (with OID being equated to interest based on an assumed four-year life to maturity), (y) customary arrangement or commitment fees payable to
the Lead Arranger (or its affiliates) in connection with the Term B Facility or to one or more arrangers (or their affiliates) of the Incremental Term Facility shall be excluded, and (z) if the LIBOR or Base Rate floor for the Incremental Term
Facility is greater than the LIBOR or Base Rate floor, respectively, for the existing Term B Facility, the difference between such floor for the Incremental Term Facility and the existing Term B Facility shall be equated to an increase in the
Applicable Margin for purposes of this clause (vii), (viii) any Incremental Facility shall be available to only such Borrowers and in such currencies as may be permitted pursuant to provisions of the Credit Documentation that shall be substantially
consistent with the provisions of the Existing Bank Credit Documentation, and (ix) any Incremental Facility shall be subject to terms, conditions, and limitations consistent with the provisions of the Existing Bank Credit Documentation. 

Scheduled Amortization: 
 Term Loan Facilities: The Term A Facility will be subject to annual amortization, commencing December 31, 2013, of principal in amounts to be agreed. The Term B Facility will be subject to
annual amortization, commencing December 31, 2012, of principal equal to 1.0% of the original aggregate principal amount of the Term B Facility, with the balance payable at final maturity (collectively, the “Scheduled Amortization”).

 Revolving Credit Facility: None. 
 Mandatory Prepayments and Commitment Reductions: 

In addition to the amortization set forth above, the Credit Agreement will contain provisions regarding mandatory
prepayments and commitment reductions substantially consistent with the provisions of the Existing Bank Credit Documentation. All such proceeds thereunder shall be applied to the prepayment of (and permanent reduction of the commitments under) the
Senior Credit Facilities in the following manner: first, between the Term Loan Facilities on a pro rata basis, to be applied as to each Term Loan Facility, first to the next annual amortization payment due December 31 (in the case of prepayments of
the Term A Facility) or to the next succeeding four quarterly amortization payments (in the case of prepayments of the Term B Facility) and the balance, if any, ratably to the remaining principal repayment installments of such Term Loan Facilities
and, second, to the Revolving Credit Facility. 
 Optional Prepayments and Commitment Reductions: 

The Senior Credit Facilities may be prepaid voluntarily in whole or in part at any time pursuant to provisions of the
Credit Agreement substantially consistent with the provisions of the Existing Bank Credit Documentation, without prepayment premium other than the Repricing Fee as defined below. 

Annex I-6 
 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747

 

 

  
 Repricing Fee:

 If on or before the first anniversary of the Closing Date, any (i) amendment, amendment and restatement or
other modification of the Credit Agreement is consummated or (ii) any voluntary prepayment of some or all of the Term Loan B with the proceeds of a substantially concurrent issuance or incurrence of indebtedness (even if all or a portion of the Term
Loan B is replaced, converted or re-evidenced with, into or by such new indebtedness) is consummated, the effect of which, in the case of either clause (i) or clause (ii), is to decrease the Applicable Margin with respect to some or all of the Term
Loan B (any such transaction or event described in (i) or (ii) above, a “Price Reduction”), then, simultaneously with the consummation of such Price Reduction, Silgan shall pay to the Lenders holding any of the Term Loan B (which shall
include any non-consenting Lender that is required to assign its Loan in pursuant to any “yank-a-bank” provisions in connection with any such Price Reduction, but which shall not include the assignee of any such non-consenting Lender) a
fee (the “Repricing Fee”) in an amount equal to 1.0% of the aggregate principal amount of the Term Loan B so repriced or refinanced in such Price Reduction (such Repricing Fee to be allocated pro rata in accordance with the aggregate
amount of Term Loan B of each such Lender so repriced or refinanced). 
 Security: 

The Senior Credit Facilities (and all obligations under the Guarantees) shall be secured by a first priority perfected
security interest in all of the following (the “Collateral”): (x) all stock, other equity interests and promissory notes owned by Silgan and the Guarantors, provided, however, that (i) not more than 65% of the total outstanding voting
stock of any non-U.S. subsidiary of Silgan shall be required to be pledged to support the obligations of a Borrower organized in the United States and (ii) the equity interests in any entity that is not a subsidiary of Silgan shall not be required
to be pledged to the extent that the terms of the respective joint venture agreements prohibit such a pledge and (y) all other tangible and intangible assets (including receivables, contract rights, securities, patents, trademarks, other
intellectual property, inventory and equipment) owned by the Silgan and the Guarantors, in each case in a manner, and subject to exceptions, substantially consistent with the provisions of the Existing Bank Credit Documentation (including with
respect to receivables and related assets sold as part of the Receivables Financing). 
 Conditions Precedent to
Closing: 
 Those specified in the Funding Conditions. 

Conditions Precedent to Each Borrowing Under the Senior Credit Facilities: 

Each borrowing or issuance or renewal of a Letter of Credit (other than those on the Closing Date) under the Senior Credit
Facilities will be subject to satisfaction of conditions precedent substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Annex I-7 
 748 749 750 751 752 753 754 755 756 757
758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 

 

 

  
 Representations
and Warranties: 
 Substantially consistent with the provisions of the Existing Bank Credit Documentation.

 Covenants: 
 Affirmative and Negative Covenants: substantially consistent with the provisions of the Existing Bank Credit Documentation, provided that the restricted payment basket will be set at the
level in effect on the closing date of the Existing Bank Credit Documentation and will not be reduced by restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. 

Financial Covenants: To include the following: 
 • Maintenance of a minimum Interest Coverage Ratio (defined in a manner substantially consistent with the provisions of the Existing Bank Credit Documentation); and 

• Maintenance of a maximum Total Leverage Ratio (defined in a manner substantially consistent with the provisions of
the Existing Bank Credit Documentation). 
 All of the financial covenants will be calculated on a consolidated
basis and for each consecutive four fiscal quarter period, and pursuant to definitions and provisions substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Interest Rate Protection: 
 Silgan shall obtain interest rate protection with one or more Lenders or Senior Joint Lead Arrangers or affiliates thereof for a notional amount and otherwise on terms to be agreed in the
Credit Documentation. 
 Events of Default: 

Substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Unrestricted Subsidiaries: 
 Silgan will be permitted to designate one or more existing or subsequently acquired or organized subsidiaries as “unrestricted subsidiaries” pursuant to provisions and subject to
limitations and conditions substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Assignments and Participations: 
 Each Senior
Lender will be permitted to sell participations and to make assignments in minimum amounts to be agreed, subject to limitations, approval rights, and restrictions substantially consistent with the provisions of the Existing Bank Credit
Documentation. 
 Assignments to Silgan and subsidiaries of Silgan shall not be permitted. 

Waivers and Amendments: 
 Amendments and waivers of the provisions of the Credit Documentation will be subject to provisions substantially consistent with the provisions of the Existing Bank Credit Documentation,
including without 
 Annex I-8 
 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 832 833 

 

 

  
 limitation
provisions relating to the voting rights of Defaulting Lenders and tranche voting for certain matters. 

Indemnification: 
 Silgan will indemnify and hold harmless the Administrative Agent, the Senior Syndication Agent, the Senior Lead Arranger, each Senior Joint Lead Arranger and each Senior Joint Bookrunner,
each Senior Lender and each of their affiliates and their officers, directors, employees, agents and advisors from and against all losses, liabilities, claims, damages or expenses arising out of or relating to the Transaction, the Senior Credit
Facilities, Silgan’s use of loan proceeds and the commitments, including, but not limited to, reasonable attorneys’ fees and settlement costs. This indemnification shall survive and continue for the benefit of all such persons or entities,
notwithstanding any failure of the Senior Credit Facilities to close. 
 Governing Law: 

New York. 
 Expenses: 
 Silgan will pay all reasonable costs
and expenses associated with the preparation, due diligence, administration, syndication and enforcement of all Credit Documentation, including, without limitation, the legal fees and expenses of a single law firm as counsel to the Administrative
Agent and Lead Arranger and of any local counsel, regardless of whether or not the Senior Credit Facilities are closed. Silgan will also pay the expenses of each Senior Lender in connection with the enforcement of any of the Credit Documentation
related to the Senior Credit Facilities. 
 Counsel to the 

Senior Lead Arranger: 
 Latham & Watkins LLP 
 Miscellaneous:

 Each of the parties shall (i) waive its right to a trial by jury and (ii) submit to New York jurisdiction.

 Annex I-9 
 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 859 860 

 

 

  
 ANNEX II-A

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR BRIDGE LOANS 
 Capitalized terms not
otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex II-A is attached. 
 Borrower: 
 Silgan Holdings Inc.
(“Silgan”). 
 Guarantors: 
 Same subsidiaries of Silgan as the subsidiary guarantors of obligations of Silgan under the Senior Credit Facilities. 

Administrative Agent: 
 Bank of America, N.A. or an affiliate thereof will act as sole and exclusive administrative agent for the Bridge Lenders (the “Administrative Agent”). 

Sole Lead Arranger and Sole Bookrunning Manager: 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) will act as sole and exclusive lead arranger and sole and exclusive bookrunning manager for the Bridge
Loans (in such capacity, the “Bridge Lead Arranger”). 
 Bridge Lenders: 

Bank of America, N.A. or an affiliate thereof (“Bank of America”; or the “Initial Bridge Lender”) and
other financial institutions and institutional lenders selected by the Bridge Lead Arranger in consultation with Silgan (the “Bridge Lenders”). 
 Bridge Loans: 
 Up to $500 million of senior
unsecured bridge loans (the “Senior Bridge Loans”), less the aggregate gross proceeds of Notes or any other debt other than the Facilities or disqualified equity securities of the Companies (collectively, “Permanent Securities”)
issued on or prior to the Closing Date. 
 Ranking: 

The Senior Bridge Loans will be senior unsecured obligations of Silgan and rank pari passu in right of payment with or
senior to all other unsecured obligations of Silgan. The guarantees will be senior unsecured obligations of each Guarantor, ranking pari passu in right of payment with or senior to all other unsecured obligations of such Guarantor. 

Security: 
 None. 
 Purpose: 

The Senior Bridge Facility will be available on the Closing Date to purchase Existing Senior Notes tendered in the
applicable Change of Control Offer. The proceeds of the Senior Bridge Facility shall be used solely to repurchase Existing Senior Notes. 
 Interest Rate: 
 Interest shall be payable
quarterly in arrears at a rate per annum equal to one-month LIBOR plus the Applicable Margin. 
 Annex II-A-1

 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887
888 889 890 891 892 893 894 895 896 897 

 

 

  

“Applicable Margin” shall initially be 550 basis points and will increase by an additional 50 basis points at
the end of each subsequent three-month period for as long as the Senior Bridge Loans are outstanding; provided that the interest rate shall not exceed the Senior Total Cap (as defined in the Fee Letter). 

“LIBOR” shall be deemed to be not less than 1.50% per annum. 

During the continuance of an event of default or a payment default, interest will accrue on the principal of the Senior
Bridge Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Senior Bridge Loans (except that following the Senior Rollover Date (as defined below), interest on the Senior Bridge
Loans will accrue at a per annum rate equal to 200 basis points in excess of the Senior Total Cap), and will be payable on demand. 
 All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 
 Cost and Yield Protection: 
 Customary for
transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality,
unavailability, reserves without proration or offset and payments free and clear of withholding or other taxes. 

Amortization: 
 None. 
 Optional Prepayments: 

The Senior Bridge Loans may be prepaid prior to the first anniversary of the Closing Date (the “Senior Rollover
Date”), without premium or penalty, in whole or in part, upon written notice, at the option of Silgan, at any time, together with accrued interest to the prepayment date. 
 Mandatory Prepayments: 
 Silgan shall prepay the
Senior Bridge Loans without premium or penalty and offer to purchase Senior Exchange Notes at the premium for optional redemptions set forth in Annex II-C (on a pro rata basis) together with accrued interest to the prepayment or purchase date, with
(a) all net cash proceeds from (i) sales of property and assets of Silgan or any of its subsidiaries (including sales or issuances of equity interests by subsidiaries of Silgan but excluding sales of inventory in the ordinary course of business and
other exceptions and baskets usual and customary for financings of this type to be agreed), and (ii) Extraordinary Receipts (to be defined to include extraordinary receipts such as tax refunds, casualty and indemnity payments, and certain insurance
proceeds and to exclude cash receipts in the ordinary course of business), in each case, subject to minimum amounts and reinvestment rights to be agreed, (b) all net cash proceeds from the issuance or incurrence after the Closing Date of additional
debt of Silgan or any of its subsidiaries other than the Facilities and certain debt permitted under the Credit Documentation, and (c) 25% of all net cash proceeds from 
 Annex II-A-2 
 898 899 900 901 902 903 904 905 906
907 908 909 910 911 912 913 914 915 916 917 918 919 920 921 922 923 924 925 926 927 928 929 930 931 932 933 934 935 936 937 938 939 940 941 

 

 

  
 any issuance of
equity interest by, or equity contribution to, Silgan, subject to exceptions to be agreed. Silgan’s obligation to prepay Senior Bridge Loans and purchase Senior Exchange Notes shall be deemed to be satisfied with respect to clause (a) above on
a dollar-for-dollar basis to the extent of amounts applied to repay loans under (i) the Term Loan Facilities or (ii) the Revolving Credit Facility to the extent accompanied by a permanent reduction in commitments thereunder. 

Change of Control: 
 In the event of a Change of Control (to be defined, but no more restrictive than as set forth in the Existing Bank Credit Agreement), each Bridge Lender will have the right to require
Silgan, and Silgan must offer, to prepay the outstanding principal amount of the Senior Bridge Loans at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest thereon to the date of prepayment. Prior to making any
such offer, Silgan will, within 30 days of the Change of Control, repay all obligations under the Senior Credit Facilities or obtain any required consent of the Senior Lenders under the Senior Credit Facilities to make such prepayment of the Senior
Bridge Loans. 
 Conversion into Rollover Loans: 

If the Senior Bridge Loans have not been previously prepaid in full for cash on or prior to the Senior Rollover Date, the
principal amount of the Senior Bridge Loans outstanding on the Senior Rollover Date may, subject to the conditions precedent set forth in Annex II-B, be converted into unsecured, senior rollover loans with a maturity of eight years from the Closing
Date and otherwise having the terms set forth in Annex II-B (the “Senior Rollover Loans”). Any Senior Bridge Loans not converted into Senior Rollover Loans shall be repaid in full on the Senior Rollover Date. 

Exchange into Exchange Notes: 
 Each Bridge Lender that is (or will immediately transfer its Exchange Notes to) an Eligible Holder (as defined in Annex II-C) will have the right, at any time on or after the Senior
Rollover Date, to exchange Senior Rollover Loans held by it for unsecured senior exchange notes of Silgan having the terms set forth in Annex II-C (the “Senior Exchange Notes”). Notwithstanding the foregoing, Silgan will not be required to
exchange Senior Rollover Loans for Senior Exchange Notes unless at least $50.0 million of Senior Exchange Notes would be outstanding immediately after such exchange. In connection with each such exchange, or at any time prior thereto if requested by
the Initial Bridge Lender, Silgan shall (i) deliver to the Bridge Lender that is receiving Senior Exchange Notes, and to such other Bridge Lenders as the Initial Bridge Lender requests, an offering memorandum of the type customarily utilized in a
Rule 144A offering of high yield securities covering the resale of such Senior Exchange Notes or Senior Bridge Loans by such Bridge Lenders, in such form and substance as reasonably acceptable to Silgan and the Initial Bridge Lender, and keep such
offering memorandum updated in a manner as would be required pursuant to a customary Rule 144A securities purchase agreement, (ii) execute an exchange agreement containing provisions customary in 

Annex II-A-3 
 942 943 944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988
989 

 

 

  
 Rule 144A
transactions (including indemnification provisions) and a registration rights agreement customary in Rule 144A offerings, in each case, if requested by the Initial Bridge Lender, (iii) deliver or cause to be delivered such opinions and
accountants’ comfort letters addressed to the Initial Bridge Lender and such certificates as the Initial Bridge Lender may request as would be customary in Rule 144A offerings and otherwise in form and substance reasonably satisfactory to the
Initial Bridge Lender and (iv) take such other actions, and cause its advisors, auditors and counsel to take such actions, as reasonably requested by the Initial Bridge Lender in connection with issuances or resales of Senior Exchange Notes or
Senior Bridge Loans, including providing such information regarding the business and operations of Silgan and its subsidiaries as is reasonably requested by any prospective holder of Senior Exchange Notes or Senior Bridge Loans and customarily
provided in due diligence investigations in connection with purchases or resales of securities. 
 Conditions
Precedent: 
 Those specified in the Funding Conditions. 

Covenants: 
 Negative covenants that are customary for high yield debt securities of issuers of similar size and credit quality, including compliance with the Fee Letter, as reasonably determined by
the Bridge Lead Arranger in light of prevailing market conditions and other circumstances and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indentures with such changes to be
agreed based on prevailing market conditions and the operational requirements of Silgan upon consummation of the Transaction, and with such improvements to reflect the size of the business of Silgan and its subsidiaries pro forma for the
Acquisition; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be reduced by restricted payments made pursuant thereto after such closing
date and prior to the date of the Commitment Letter. 
 Representations and Warranties, Events of Default,
Waivers and Consents: 
 Usual and customary for a transaction of this type, and others deemed reasonably
appropriate by the Bridge Lead Arranger, including (without limitation) provisions no more restrictive than those contained in the Senior Credit Facilities. 
 Assignments and Participations: 
 Each Bridge
Lender will be permitted to make assignments in minimum amounts to be agreed to other entities approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed; provided, however, that no such approval shall be
required in connection with assignments to other Bridge Lenders or any of their affiliates. Each Bridge Lender will also have the right, without any consent, to assign as security all or part of its rights under the Credit Documentation to any
Federal Reserve Bank. Bridge Lenders will be 
 Annex II-A-4 

990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015
1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 

 

 

  
 permitted to
sell participations with voting rights limited to significant matters such as changes in amount, rate and maturity date. An assignment fee in the amount of $3,500 will be charged to the assignee with respect to each assignment unless waived by the
Administrative Agent in its sole discretion. 
 If the Initial Bridge Lender makes an assignment of Senior Bridge
Loans at a price less than par, the assignment agreement may provide that, upon any repayment or prepayment of such Senior Bridge Loans with the proceeds of an issuance of securities of Silgan or any of its subsidiaries in which the Initial Bridge
Lender or an affiliate thereof acted as underwriter or initial purchaser (an “Applicable Offering”), (i) Silgan shall pay the holder of such Senior Bridge Loans the price set forth in the assignment agreement as the price (which may be the
price at which the Initial Bridge Lender assigned such Senior Bridge Loans but in any event may not be greater than par) at which the holder of such Senior Bridge Loans will be repaid by Silgan with the proceeds of an Applicable Offering (the
“Agreed Price”) and (ii) Silgan shall pay the Initial Bridge Lender the difference between par and the Agreed Price. Such payments by Silgan shall be in full satisfaction of such Senior Bridge Loans in the case of a repayment or prepayment
with proceeds of an Applicable Offering. For the avoidance of doubt, the repayment by Silgan of the Senior Bridge Loans shall not exceed par and the provisions of this paragraph do not apply to any repayments or prepayments other than with proceeds
of an Applicable Offering. 
 Governing Law: 

New York. 
 Indemnification and Expenses: 
 Same as the Senior
Credit Facilities. 
 Counsel to Bridge Lead Arranger: 

Latham & Watkins LLP. 
 Annex II-A-5 
 1037 1038 1039 1040 1041 1042 1043
1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 

 

 

  
 ANNEX II-B

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR ROLLOVER LOANS 
 Capitalized terms not
otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex II-B is attached. 
 Borrower: 
 Silgan. 

Guarantors: 
 Same as the Senior Bridge Loans. 
 Rollover Loans:

 Senior Rollover Loans in an initial principal amount equal to 100% of the outstanding principal amount of the
Senior Bridge Loans on the Senior Rollover Date. Subject to the conditions precedent set forth below, the Senior Rollover Loans will be available to Silgan to refinance the Senior Bridge Loans on the Senior Rollover Date. The Senior Rollover Loans
will be governed by the Credit Documentation for the Senior Bridge Loans and, except as set forth below, shall have the same terms as the Senior Bridge Loans. 
 Ranking: 
 Same as Senior Bridge Loans. 

Interest Rate: 
 Interest shall be payable quarterly in arrears at a rate per annum equal to the Senior Total Cap. 
 During the continuance of an event of default or a payment default, interest will accrue on the principal of the Senior Rollover Loans and on any other outstanding amount at a rate of 200
basis points in excess of the rate otherwise applicable to the Senior Rollover Loans, and will be payable on demand. 
 All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 
 Maturity: 
 Eight years after the Closing Date (the
“Senior Rollover Maturity Date”). 
 Optional Prepayments: 

For so long as the Senior Rollover Loans have not been exchanged for Senior Exchange Notes of Silgan as provided in Annex
II-C, they may be prepaid at the option of Silgan, in whole or in part, at any time, together with accrued and unpaid interest to the prepayment date (but without premium or penalty). 

Conditions Precedent to Rollover: 
 The ability of Silgan to convert any Senior Bridge Loans into Senior Rollover Loans is subject to the following conditions being satisfied: 

(i) at the time of any such refinancing, there shall exist no event of default or event that, with notice and/or lapse of
time, could become an event of default, and there shall be no failure to 
 Annex II-B-1 

1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089
1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 

 

 

  
 comply with the
Take-out Demand (as defined in the Fee Letter); 
 (ii) all fees due to the Bridge Lead Arranger and the Initial
Bridge Lender shall have been paid in full; 
 (iii) the Bridge Lenders shall have received promissory notes
evidencing the Senior Rollover Loans (if requested) and such other documentation as shall be set forth in the Credit Documentation; and 
 (iv) no order, decree, injunction or judgment enjoining any such refinancing shall be in effect. 
 Covenants: 
 From and after the Senior Rollover
Date, the covenants applicable to the Senior Rollover Loans will conform to those applicable to the Exchange Notes, except for covenants relating to the obligation of Silgan to refinance the Senior Rollover Loans and others to be agreed. 

Assignments and Participations: 
 Same as the Senior Bridge Loans. 
 Governing Law:

 New York. 
 Indemnification and Expenses: 
 Same as the Senior
Bridge Loans. 
 Annex II-B-2 
 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 

 

 

  
 ANNEX II-C

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR EXCHANGE NOTES 
 Capitalized terms not
otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex II-C is attached. 
 Issuer: 
 Silgan. 

Guarantors: 
 Same as the Senior Bridge Loans. 
 Exchange Notes:

 Silgan will issue the Senior Exchange Notes under an indenture that complies with the Trust Indenture Act of
1939, as amended (the “Indenture”). Silgan will appoint a trustee reasonably acceptable to the holders of the Senior Exchange Notes. The Indenture will include provisions customary for an indenture governing publicly traded high yield debt
securities and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indentures with such changes to be agreed based on prevailing market conditions and the operational requirements of
Silgan upon consummation of the Transaction; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indenture and will not be reduced by restricted payments made pursuant
thereto after such closing date and prior to the date of the Commitment Letter. Except as expressly set forth above, the Senior Exchange Notes shall have the same terms as the Senior Rollover Loans. 

Ranking: 
 Same as the Senior Bridge Loans. 
 Security:

 None. 
 Interest Rate: 
 Interest shall be payable
quarterly in arrears at a per annum rate equal to the Senior Total Cap. 
 During the continuance of an event of
default or a payment default, interest will accrue on the principal of the Senior Exchange Notes and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Senior Exchange Notes, and will be
payable on demand. 
 Maturity: 
 Same as the Senior Rollover Loans. 
 Amortization:

 None. 
 Optional Redemption: 
 Until the fourth anniversary
of the Closing Date, the Exchange Notes will be redeemable at a customary “make-whole” premium calculated using a discount rate equal to the yield on comparable Treasury securities plus 50 basis points. Thereafter, the Exchange Notes will
be redeemable at the option of the Issuer at a premium equal to 50% of the 
 Annex II-C-1 

1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 1141 1142 1143 1144 1145 1146
1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 

 

 

  
 coupon on the
Exchange Notes, declining ratably to par on the date which is one year prior to the Rollover Maturity Date. 
 In
addition, Senior Exchange Notes will be redeemable at the option of the Issuer prior to the third anniversary of the Closing Date with the net cash proceeds of qualified equity offerings of Silgan that are contributed to the Issuer at a premium
equal to the coupon on the Senior Exchange Notes; provided that after giving effect to such redemption at least 65% of the aggregate principal amount of Senior Exchange Notes originally issued shall remain outstanding. 

Mandatory Offer to Purchase: 
 The Issuer will be required to offer to purchase the Senior Exchange Notes upon a Change of Control (to be defined, but no more restrictive than as set forth in the Existing Bank Credit
Agreement) at 101% of the principal amount thereof plus accrued interest to the date of purchase. 
 Right to
Transfer Exchange Notes: 
 Each holder of Senior Exchange Notes shall have the right to transfer its Senior
Exchange Notes in whole or in part, at any time to an Eligible Holder and, after the Senior Exchange Notes are registered pursuant to the provisions described under “Registration Rights”, to any person or entity; provided that if the
Issuer or any of its affiliates holds Senior Exchange Notes, such Senior Exchange Notes shall be disregarded in any voting. “Eligible Holder” will mean (a) an institutional “accredited investor” within the meaning of Rule 501
under the Securities Act, (b) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, (c) a person acquiring the Senior Exchange Notes pursuant to an offer and sale occurring outside of the United States
within the meaning of Regulation S under the Securities Act or (d) a person acquiring the Senior Exchange Notes in a transaction that is, in the opinion of counsel reasonably acceptable to the Issuer, exempt from the registration requirements of the
Securities Act; provided that in each case such Eligible Holder represents that it is acquiring the Senior Exchange Notes for its own account and that it is not acquiring such Senior Exchange Notes with a view to, or for offer or sale in connection
with, any distribution thereof (within the meaning of the Securities Act) that would be in violation of the securities laws of the United States or any state thereof. 
 Registration Rights: 
 The Issuer will be required
to: 
 • within 90 days after the Senior Rollover Date, file a registration statement for an offer to
exchange the Senior Exchange Notes for publicly registered notes with identical terms; 
 • use its
commercially reasonable efforts to cause the registration statement to become effective under the Securities Act within 150 days after the Senior Rollover Date; 
 Annex II-C-2 
 1161 1162 1163 1164 1165 1166 1167
1168 1169 1170 1171 1172 1173 1174 1175 1176 1177 1178 1179 1180 1181 1182 1183 1184 1185 1186 1187 1188 1189 1190 1191 1192 1193 1194 1195 1196 1197 1198 1199 1200 1201 1202 1203 

 

 

  
 • complete
the exchange offer within 180 days after the Senior Rollover Date; and 
 • file and use its commercially
reasonable efforts to cause to become effective a shelf registration statement for the resale of the Senior Exchange Notes if it cannot complete an exchange offer by such 180th day, and keep such shelf registration statement effective, with respect
to resales of the Senior Exchange Notes, for as long as it is required by the holders of the Senior Exchange Notes to resell the Senior Exchange Notes. 
 If the Issuer fails to (a) complete the exchange offer within 180 days after the Senior Rollover Date or (b) cause a shelf registration to become effective within 180 days of the Senior
Rollover Date a registration default shall have occurred (a “Registration Default”), in which event the Issuer shall pay liquidated damages to each holder of Senior Exchange Notes with respect to the first 90-day period immediately
following the occurrence of the first Registration Default in an amount equal to 0.50% per annum on the principal amount of Senior Exchange Notes held by such holder. The amount of the liquidated damages will increase by an additional 0.50% per
annum on the principal amount of Senior Exchange Notes with respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of liquidated damages for all Registration Defaults of 1.50% per annum.

 Governing Law: 
 New York. 
 Indemnification and Expenses:

 Same as the Senior Bridge Loans. 
 Annex II-C-3 
 1204 1205 1206 1207 1208 1209 1210
1211 1212 1213 1214 1215 1216 1217 1218 1219 1220 1221 1222 1223 1224 1225 1226 1227 1228 1229 

 

 

  
 ANNEX III-A

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR SUBORDINATED BRIDGE LOANS 
 Capitalized
terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-A is attached. 
 Borrower: 
 Silgan Holdings Inc.
(“Silgan”). 
 Guarantors: 
 Same subsidiaries of Silgan as the subsidiary guarantors of obligations of Silgan under the Senior Credit Facilities. 

Administrative Agent: 
 Bank of America, N.A. or an affiliate thereof will act as sole and exclusive administrative agent for the Bridge Lenders (the “Administrative Agent”). 

Sole Lead Arranger and Sole Bookrunning Manager: 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) will act as sole and exclusive lead arranger and sole and exclusive bookrunning manager for the
Subordinated Bridge Loans (in such capacity, the “Bridge Lead Arranger”). 
 Bridge Lenders:

 Bank of America, N.A. or an affiliate thereof (“Bank of America”; or the “Initial Bridge
Lender”) and other financial institutions and institutional lenders selected by the Bridge Lead Arranger in consultation with Silgan (the “Bridge Lenders”). 
 Bridge Loans: 
 Up to $400 million of senior
subordinated unsecured bridge loans (the “Subordinated Bridge Loans”), less the aggregate gross proceeds of Notes or any other debt other than the Facilities or disqualified equity securities of the Companies (collectively, “Permanent
Securities”) issued on or prior to the Closing Date. The Subordinated Bridge Loans will be available to Silgan in one drawing upon consummation of the Acquisition. 
 Ranking: 
 The Subordinated Bridge Loans will be
unsecured, senior subordinated obligations of Silgan, subordinated to the Senior Credit Facilities, Senior Bridge Loans, Senior Rollover Loans, Senior Exchange Notes, Existing Senior Notes and the 7.25% Senior Notes due 2016 of Silgan and ranking
pari passu in right of payment with or senior to all other unsecured obligations of Silgan. The guarantees will be unsecured, senior subordinated obligations of each Guarantor, subordinated to such Guarantor’s guarantee under the Senior Credit
Facilities, Senior Bridge Loans, Senior Rollover Loans, Senior Exchange Notes, Existing Senior Notes and the 7.25% Senior Notes due 2016 of Silgan, ranking pari passu in right of payment with or senior to all other unsecured obligations of such
Guarantor. 
 Annex III-A-1 
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 Security:

 None. 
 Purpose: 
 The proceeds of the Subordinated Bridge
Loans, together with borrowings under the Senior Credit Facilities on the Closing Date, shall be used (i) to finance in part the Acquisition and the Refinancing and (ii) to pay fees and expenses incurred in connection with the Transaction.

 Interest Rate: 
 Interest shall be payable quarterly in arrears at a rate per annum equal to one-month LIBOR plus the Applicable Margin. 

“Applicable Margin” shall initially be (i) 625 basis points and will increase by an additional 50 basis points
at the end of each subsequent three-month period for as long as the Subordinated Bridge Loans are outstanding; provided that the interest rate shall not exceed the Subordinated Total Cap (as defined in the Fee Letter). 

“LIBOR” shall be deemed to be not less than 1.50% per annum. 

During the continuance of an event of default or a payment default, interest will accrue on the principal of the
Subordinated Bridge Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Bridge Loans (except that following the Subordinated Rollover Date (as defined below),
interest on the Subordinated Bridge Loans will accrue at a per annum rate equal to 200 basis points in excess of the Subordinated Total Cap), and will be payable on demand. 
 All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 
 Cost and Yield Protection: 
 Customary for
transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality,
unavailability, reserves without proration or offset and payments free and clear of withholding or other taxes. 

Amortization: 
 None. 
 Optional Prepayments: 

The Subordinated Bridge Loans may be prepaid prior to the first anniversary of the Closing Date (the “Subordinated
Rollover Date”), without premium or penalty, in whole or in part, upon written notice, at the option of Silgan, at any time, together with accrued interest to the pre-payment date. 

Mandatory Prepayments: 
 Silgan shall prepay the Subordinated Bridge Loans without premium or penalty and offer to purchase Subordinated Exchange Notes at the premium for optional redemptions set forth in Annex
III-C (on a pro rata basis) together with accrued interest to the prepayment or purchase date, with (a) all net cash proceeds from (i) sales of property and assets of Silgan or any of its subsidiaries (including sales or issuances of equity

 Annex III-A-2 
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interests by subsidiaries of Silgan but excluding sales of inventory in the ordinary course of business and other exceptions and baskets usual and customary for financings of this type to be
agreed), and (ii) Extraordinary Receipts (to be defined to include extraordinary receipts such as tax refunds, casualty and indemnity payments, and certain insurance proceeds and to exclude cash receipts in the ordinary course of business), in each
case, subject to minimum amounts and reinvestment rights to be agreed, (b) all net cash proceeds from the issuance or incurrence after the Closing Date of additional debt of Silgan or any of its subsidiaries other than the Facilities and certain
debt permitted under the Credit Documentation, and (c) 25% of all net cash proceeds from any issuance of equity interest by, or equity contribution to, Silgan, subject to exceptions to be agreed. Silgan’s obligation to prepay Subordinated
Bridge Loans and purchase Subordinated Exchange Notes shall be deemed to be satisfied with respect to clause (a) above on a dollar-for-dollar basis to the extent of amounts applied to repay loans under (i) the Term Loan Facilities or (ii) the
Revolving Credit Facility to the extent accompanied by a permanent reduction in commitments thereunder. 
 Change
of Control: 
 In the event of a Change of Control (to be defined, but no more restrictive than as set forth in
the Existing Bank Credit Agreement), each Bridge Lender will have the right to require Silgan, and Silgan must offer, to prepay the outstanding principal amount of the Subordinated Bridge Loans at a price equal to 101% of the principal amount
thereof, plus accrued and unpaid interest thereon to the date of prepayment. Prior to making any such offer, Silgan will, within 30 days of the Change of Control, repay all obligations under the Senior Credit Facilities or obtain any required
consent of the Senior Lenders under the Senior Credit Facilities to make such prepayment of the Subordinated Bridge Loans. 
 Conversion into Rollover Loans: 
 If the
Subordinated Bridge Loans have not been previously prepaid in full for cash on or prior to the Subordinated Rollover Date, the principal amount of the Subordinated Bridge Loans outstanding on the Subordinated Rollover Date may, subject to the
conditions precedent set forth in Annex III-B, be converted into unsecured, senior subordinated rollover loans with a maturity of ten years from the Closing Date and otherwise having the terms set forth in Annex III-B (the “Subordinated
Rollover Loans”). Any Subordinated Bridge Loans not converted into Subordinated Rollover Loans shall be repaid in full on the Subordinated Rollover Date. 
 Exchange into Exchange Notes: 
 Each Bridge Lender
that is (or will immediately transfer its Exchange Notes to) an Eligible Holder (as defined in Annex III-C) will have the right, at any time on or after the Subordinated Rollover Date, to exchange Subordinated Rollover Loans held by it for unsecured
senior subordinated exchange notes of Silgan having the terms set forth in Annex III-C (the “Subordinated Exchange Notes”). Notwithstanding 
 Annex III-A-3 
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 the foregoing,
Silgan will not be required to exchange Subordinated Rollover Loans for Subordinated Exchange Notes unless at least $50.0 million of Subordinated Exchange Notes would be outstanding immediately after such exchange. In connection with each such
exchange, or at any time prior thereto if requested by the Initial Bridge Lender, Silgan shall (i) deliver to the Bridge Lender that is receiving Subordinated Exchange Notes, and to such other Bridge Lenders as the Initial Bridge Lender requests, an
offering memorandum of the type customarily utilized in a Rule 144A offering of high yield securities covering the resale of such Subordinated Exchange Notes or Subordinated Bridge Loans by such Bridge Lenders, in such form and substance as
reasonably acceptable to Silgan and the Initial Bridge Lender, and keep such offering memorandum updated in a manner as would be required pursuant to a customary Rule 144A securities purchase agreement, (ii) execute an exchange agreement containing
provisions customary in Rule 144A transactions (including indemnification provisions) and a registration rights agreement customary in Rule 144A offerings, in each case, if requested by the Initial Bridge Lender, (iii) deliver or cause to be
delivered such opinions and accountants’ comfort letters addressed to the Initial Bridge Lender and such certificates as the Initial Bridge Lender may request as would be customary in Rule 144A offerings and otherwise in form and substance
reasonably satisfactory to the Initial Bridge Lender and (iv) take such other actions, and cause its advisors, auditors and counsel to take such actions, as reasonably requested by the Initial Bridge Lender in connection with issuances or resales of
Subordinated Exchange Notes or Subordinated Bridge Loans, including providing such information regarding the business and operations of Silgan and its subsidiaries as is reasonably requested by any prospective holder of Subordinated Exchange Notes
or Subordinated Bridge Loans and customarily provided in due diligence investigations in connection with purchases or resales of securities. 
 Conditions Precedent: 
 Those specified in the
Funding Conditions. 
 Covenants: 
 Negative covenants that are customary for high yield debt securities of issuers of similar size and credit quality, including compliance with the Fee Letter, as reasonably determined by
the Bridge Lead Arranger in light of prevailing market conditions and other circumstances and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indentures with such changes to be
agreed based on prevailing market conditions and the operational requirements of Silgan upon consummation of the Transaction, and with such improvements to reflect the size of the business of Silgan and its subsidiaries pro forma for the
Acquisition; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be reduced by restricted payments made pursuant thereto after such closing
date and prior to the date of the Commitment Letter. 
 Annex III-A-4 

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 Representations
and Warranties, Events of Default, Waivers and Consents: 
 Usual and customary for a transaction of this type,
and others deemed reasonably appropriate by the Bridge Lead Arranger, including (without limitation) provisions no more restrictive than those contained in the Senior Credit Facilities. 

Assignments and Participations: 
 Each Bridge Lender will be permitted to make assignments in minimum amounts to be agreed to other entities approved by the Administrative Agent, which approval shall not be unreasonably
withheld or delayed; provided, however, that no such approval shall be required in connection with assignments to other Bridge Lenders or any of their affiliates. Each Bridge Lender will also have the right, without any consent, to assign as
security all or part of its rights under the Credit Documentation to any Federal Reserve Bank. Bridge Lenders will be permitted to sell participations with voting rights limited to significant matters such as changes in amount, rate and maturity
date. An assignment fee in the amount of $3,500 will be charged to the assignee with respect to each assignment unless waived by the Administrative Agent in its sole discretion. 

If the Initial Bridge Lender makes an assignment of Subordinated Bridge Loans at a price less than par, the assignment
agreement may provide that, upon any repayment or prepayment of such Subordinated Bridge Loans with the proceeds of an issuance of securities of Silgan or any of its subsidiaries in which the Initial Bridge Lender or an affiliate thereof acted as
underwriter or initial purchaser (an “Applicable Offering”), (i) Silgan shall pay the holder of such Subordinated Bridge Loans the price set forth in the assignment agreement as the price (which may be the price at which the Initial Bridge
Lender assigned such Subordinated Bridge Loans but in any event may not be greater than par) at which the holder of such Subordinated Bridge Loans will be repaid by Silgan with the proceeds of an Applicable Offering (the “Agreed Price”)
and (ii) Silgan shall pay the Initial Bridge Lender the difference between par and the Agreed Price. Such payments by Silgan shall be in full satisfaction of such Subordinated Bridge Loans in the case of a repayment or prepayment with proceeds of an
Applicable Offering. For the avoidance of doubt, the repayment by Silgan of the Subordinated Bridge Loans shall not exceed par and the provisions of this paragraph do not apply to any repayments or prepayments other than with proceeds of an
Applicable Offering. 
 Governing Law: 
 New York. 
 Indemnification and Expenses:

 Same as the Senior Credit Facilities. 
 Counsel to Bridge Lead Arranger: 
 Latham &
Watkins LLP. 
 Annex III-A-5 
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 ANNEX III-B

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR SUBORDINATED ROLLOVER LOANS 
 Capitalized
terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-B is attached. 
 Borrower: 
 Silgan. 

Guarantors: 
 Same as the Subordinated Bridge Loans. 
 Rollover
Loans: 
 Subordinated Rollover Loans in an initial principal amount equal to 100% of the outstanding principal
amount of the Subordinated Bridge Loans on the Subordinated Rollover Date. Subject to the conditions precedent set forth below, the Subordinated Rollover Loans will be available to Silgan to refinance the Subordinated Bridge Loans on the
Subordinated Rollover Date. The Subordinated Rollover Loans will be governed by the Credit Documentation for the Subordinated Bridge Loans and, except as set forth below, shall have the same terms as the Subordinated Bridge Loans. 

Ranking: 
 Same as Subordinated Bridge Loans. 
 Interest Rate:

 Interest shall be payable quarterly in arrears at a rate per annum equal to the Subordinated Total Cap.

 During the continuance of an event of default or a payment default, interest will accrue on the principal of
the Subordinated Rollover Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Rollover Loans, and will be payable on demand. 

All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 

Maturity: 
 Ten years after the Closing Date (the “Subordinated Rollover Maturity Date”). 
 Optional Prepayments: 
 For so long as the
Subordinated Rollover Loans have not been exchanged for Subordinated Exchange Notes of Silgan as provided in Annex III-C, they may be prepaid at the option of Silgan, in whole or in part, at any time, together with accrued and unpaid interest to the
prepayment date (but without premium or penalty). 
 Conditions Precedent to Rollover: 

The ability of Silgan to convert any Subordinated Bridge Loans into Subordinated Rollover Loans is subject to the
following conditions being satisfied: 
 Annex III-B-1 

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 (i) at the time
of any such refinancing, there shall exist no event of default or event that, with notice and/or lapse of time, could become an event of default, and there shall be no failure to comply with the Take-out Demand (as defined in the Fee Letter);

 (ii) 
 all fees due to the Bridge Lead Arranger and the Initial Bridge Lender shall have been paid in full; 
 (iii) the Subordinated Bridge Lenders shall have received promissory notes evidencing the Subordinated Rollover Loans (if requested) and such other documentation as shall be set forth in
the Credit Documentation; and 
 (iv) no order, decree, injunction or judgment enjoining any such refinancing
shall be in effect. 
 Covenants: 
 From and after the Subordinated Rollover Date, the covenants applicable to the Subordinated Rollover Loans will conform to those applicable to the Subordinated Exchange Notes, except for
covenants relating to the obligation of Silgan to refinance the Subordinated Rollover Loans and others to be agreed. 
 Assignments and Participations: 
 Same as the
Subordinated Bridge Loans. 
 Governing Law: 

New York. 
 Indemnification and Expenses: 
 Same as the
Subordinated Bridge Loans. 
 Annex III-B-2 

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 ANNEX III-C

 SUMMARY OF TERMS AND CONDITIONS 
 SENIOR SUBORDINATED EXCHANGE NOTES 
 Capitalized
terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-C is attached. 
 Issuer: 
 Silgan. 

Guarantors: 
 Same as the Subordinated Bridge Loans. 
 Exchange
Notes: 
 Silgan will issue the Subordinated Exchange Notes under an indenture that complies with the Trust
Indenture Act of 1939, as amended (the “Indenture”). Silgan will appoint a trustee reasonably acceptable to the holders of the Subordinated Exchange Notes. The Indenture will include provisions customary for an indenture governing publicly
traded high yield debt securities and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indenture with such changes to be agreed based on prevailing market conditions and the
operational requirements of Silgan upon consummation of the Transaction; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be reduced by
restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. Except as expressly set forth above, the Subordinated Exchange Notes shall have the same terms as the Subordinated Rollover Loans.

 Ranking: 
 Same as the Subordinated Bridge Loans. 
 Security:

 None. 
 Interest Rate: 
 Interest shall be payable
quarterly in arrears at a per annum rate equal to the Subordinated Total Cap. 
 During the continuance of an
event of default or a payment default, interest will accrue on the principal of the Subordinated Exchange Notes and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Exchange
Notes, and will be payable on demand. 
 Maturity: 

Same as the Subordinated Rollover Loans. 
 Amortization: 
 None. 

Optional Redemption: 
 Until the fifth anniversary of the Closing Date, the Subordinated Exchange Notes will be redeemable at a customary “make-whole” premium calculated using a discount rate equal to
the yield on comparable 
 Annex III-C-1 
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Treasury securities plus 50 basis points. Thereafter, the Subordinated Exchange Notes will be redeemable at the option of the Issuer at a premium equal to 50% of the coupon on the Subordinated
Exchange Notes, declining ratably to par on the date which is one year prior to the Subordinated Rollover Maturity Date. 
 In addition, Subordinated Exchange Notes will be redeemable at the option of the Issuer prior to the third anniversary of the Closing Date with the net cash proceeds of qualified equity
offerings of Silgan that are contributed to the Issuer at a premium equal to the coupon on the Subordinated Exchange Notes; provided that after giving effect to such redemption at least 65% of the aggregate principal amount of Subordinated Exchange
Notes originally issued shall remain outstanding. 
 Mandatory Offer to Purchase: 

The Issuer will be required to offer to purchase the Subordinated Exchange Notes upon a Change of Control (to be defined,
but no more restrictive than as set forth in the Existing Bank Credit Agreement) at 101% of the principal amount thereof plus accrued interest to the date of purchase. 
 Right to Transfer Exchange Notes: 
 Each holder of
Subordinated Exchange Notes shall have the right to transfer its Subordinated Exchange Notes in whole or in part, at any time to an Eligible Holder and, after the Subordinated Exchange Notes are registered pursuant to the provisions described under
“Registration Rights”, to any person or entity; provided that if the Issuer or any of its affiliates holds Subordinated Exchange Notes, such Subordinated Exchange Notes shall be disregarded in any voting. “Eligible Holder” will
mean (a) an institutional “accredited investor” within the meaning of Rule 501 under the Securities Act, (b) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, (c) a person acquiring the
Subordinated Exchange Notes pursuant to an offer and sale occurring outside of the United States within the meaning of Regulation S under the Securities Act or (d) a person acquiring the Subordinated Exchange Notes in a transaction that is, in the
opinion of counsel reasonably acceptable to the Issuer, exempt from the registration requirements of the Securities Act; provided that in each case such Eligible Holder represents that it is acquiring the Subordinated Exchange Notes for its own
account and that it is not acquiring such Subordinated Exchange Notes with a view to, or for offer or sale in connection with, any distribution thereof (within the meaning of the Securities Act) that would be in violation of the securities laws of
the United States or any state thereof. 
 Registration Rights: 

The Issuer will be required to: 
 • within 90 days after the Rollover Date, file a registration statement for an offer to exchange the Subordinated Exchange Notes for publicly registered notes with identical terms;

 Annex III-C-2 
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 • use its
commercially reasonable efforts to cause the registration statement to become effective under the Securities Act within 150 days after the Subordinated Rollover Date; 
 • complete the exchange offer within 180 days after the Subordinated Rollover Date; and 
 • file and use its commercially reasonable efforts to cause to become effective a shelf registration statement for the resale of the Subordinated Exchange Notes if it cannot complete
an exchange offer by such 180th day, and keep such shelf registration statement effective, with respect to resales of the Subordinated Exchange Notes, for as long as it is required by the holders of the Subordinated Exchange Notes to resell the
Subordinated Exchange Notes. 
 If the Issuer fails to (a) complete the exchange offer within 180 days after the
Senior Rollover Date or (b) cause a shelf-registration to become effective within 180 days of the Senior Rollover Date a registration default shall have occurred (a “Registration Default”), in which event the Issuer shall pay liquidated
damages to each holder of Subordinated Exchange Notes with respect to the first 90-day period immediately following the occurrence of the first Registration Default in an amount equal to 0.50% per annum on the principal amount of Subordinated
Exchange Notes held by such holder. The amount of the liquidated damages will increase by an additional 0.50% per annum on the principal amount of Subordinated Exchange Notes with respect to each subsequent 90-day period until all Registration
Defaults have been cured, up to a maximum amount of liquidated damages for all Registration Defaults of 1.50% per annum. 
 Governing Law: 
 New York. 

Indemnification and Expenses: 
 Same as the Subordinated Bridge Loans. 
 Annex
III-C-3 
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 ANNEX IV

 CONDITIONS PRECEDENT TO CLOSING 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex IV is attached. 

The initial extensions of credit under the Senior Credit Facilities and the funding of the Bridge Loans under the Bridge
Facilities will be subject to satisfaction of the conditions set forth in the Commitment Letter and the following: 
 (i) (A) The Acquisition Agreement shall not have been altered, amended or otherwise changed or supplemented or any provision waived or consented to in any manner that would materially
and adversely affect the interests of the Lead Arranger and the Initial Lenders without the prior written consent of the Initial Lenders, which will not be unreasonably withheld or delayed (it being agreed that (a) any reduction in the purchase
price of the Acquisition shall not be materially adverse to the interests of the Lead Arranger and the Initial Lenders but shall be allocated (i) 76% to a reduction in the Senior Secured Credit Facilities and (ii) 24% to the equity and
available cash on hand of Silgan; provided that any facts and circumstances underlying a decrease in the purchase price may constitute a Material Adverse Effect and (b) any change to the definition of Material Adverse Effect in the Acquisition
Agreement shall be subject to the prior written consent of the Initial Lenders, not to be unreasonably withheld or delayed); (B) the Acquisition Agreement Representations contained in Section 3.01(c) of the Acquisition Agreement shall be
true and correct in all material respects as of the Closing Date as though made on the Closing Date (except to the extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date); (C) the
Acquisition Agreement Representations contained in the first sentence of Section 3.01(i) of the Acquisition Agreement shall be true and correct in all respects as of the Closing Date as though made on the Closing Date; and (D) all other
Acquisition Agreement Representations shall be true and correct (without giving effect to any qualifications or limitations as to materiality or Material Adverse Effect set forth therein) as of the Closing Date as though made on the Closing Date
(except to the extent such representations and warranties expressly relate to a specified date, in which case as of such specified date), except, in the case of this clause (D), for such failures to be true and correct that do not represent and are
not reasonably expected to represent, individually or in the aggregate, a Material Adverse Effect. The Specified Representations shall be true and correct in all material respects. The Acquisition shall have been, or shall concurrently with the
funding of the Facilities be, consummated in accordance with the terms of the Acquisition Agreement (subject to alterations, amendments, changes, supplements, waivers or consents permitted pursuant to the first sentence of this clause (i)). The
Acquisition Agreement shall mean that Agreement and Plan of Merger, between Silgan and Graham Packaging Company Inc. which shall be reasonably satisfactory to the Lead Arranger (it being agreed that the final Acquisition Agreement, dated
April 12, 2011, is satisfactory to the Lead Arranger (the “Acquisition Agreement”)). 
 (ii) There
shall have been no Material Adverse Effect (as defined in the Acquisition Agreement as in effect on the date hereof) since the date of the latest audited balance sheet of Silgan provided to the Commitment Parties prior to execution of the Commitment
Letter. 
 (iii) The Lenders shall have received certification as to the financial condition and solvency of
Silgan and its consolidated subsidiaries taken as a whole (after giving effect to the Transaction and the incurrence of indebtedness related thereto) from the chief financial officer of 

Annex IV-1 
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Silgan, in form and substance reasonably satisfactory to the Lead Arranger, together with reasonably appropriate supporting financial statements and calculations. 

(iv) The Initial Lenders shall have received customary opinions of counsel to Silgan and the Guarantors (which shall
cover, among other things, authority, legality, validity, binding effect and enforceability of the documents for such Facility and, in the case of the Senior Credit Facilities, creation and perfection of the liens granted thereunder on the
Collateral and which shall be consistent with the opinions of counsel that were delivered in connection with the Existing Bank Credit Documentation) and of appropriate local counsel and such customary corporate resolutions, certificates and other
closing documents as such Initial Lenders shall reasonably require. 
 (v) (a) The Senior Administrative
Agent (on behalf of the Senior Lenders) shall have received satisfactory evidence that it shall have a valid and perfected first priority (subject to certain exceptions to be set forth in the Credit Documentation) lien and security interest in the
Collateral; (b) all filings, recordations and searches necessary or desirable in connection with the liens and security interests in the Collateral shall have been or concurrently will be duly made; (c) all filing and recording fees and
taxes shall have been or concurrently will be duly paid; and (d) any surveys and title insurance (in respect of real property with respect to which a mortgage is being provided) and landlord waivers and access letters reasonably requested by
the Senior Administrative Agent with respect to real property interests of Silgan and its subsidiaries shall have been obtained, in each case to be consistent with those that were delivered in connection with the Existing Bank Credit Documentation;
provided that none of the foregoing clauses of this subsection (v) shall be construed in a manner inconsistent with the provisions of Section 5 of the Commitment Letter, shall be subject to the provisions therein. The Senior Administrative
Agent shall have received the results of recent lien searches in each relevant jurisdiction with respect to the Companies and their subsidiaries, and such search results shall reveal no liens on any assets of the Companies and their subsidiaries
except for customary permitted liens and liens to be discharged on or prior to the Closing Date pursuant to documentation reasonably satisfactory to the Senior Administrative Agent. The Initial Lenders shall be reasonably satisfied with the amount,
types and terms and conditions of all insurance maintained by Silgan and its subsidiaries, and the Senior Lenders shall have received endorsements naming the Senior Administrative Agent, on behalf of the Senior Lenders, as an additional insured or
loss payee, as the case may be. 
 (vi) The Lead Arranger and the Lenders shall have received each of the
following (provided that the public filing of any of the following items shall be deemed to constitute receipt by the Lead Arranger and the Lenders of such item for purposes of this clause (vi)): (A) the consolidated balance sheet of Silgan and
the Acquired Business as of the end of the fiscal years ending December 31, 2010, December 31, 2009, and December 31, 2008, and the related consolidated statements of operations, cash flows and shareholders’ equity (other
than consolidating and other financial statements and data with respect to guarantor and non-guarantor subsidiaries), accompanied by an unqualified report thereon of Ernst & Young LLP; (B) any additional audited and unaudited financial
statements for all recent, probable or pending acquisitions by Sailfish and the Acquired Business that would be required to be filed in a Form 8-K other than the Acquisition; and (C) pro forma balance sheet and related statement of operations
of Silgan for fiscal year 2010 and for any subsequent interim period, in each case pursuant to this clause (C), after giving effect to the Transaction (the “Pro Forma Financial Statements”), promptly after the historical financial
statements for such periods are available, all of which financial statements shall be prepared in accordance with generally accepted accounting principles in the United States or, with respect to Pro Forma financial Statements, meet the requirements
of Regulation S-X under the Securities Act and all other accounting rules and regulations of the Securities and Exchange 
 Annex IV-2 
 1671 1672 1673 1674 1675 1676 1677
1678 1679 1680 1681 1682 1683 1684 1685 1686 1687 1688 1689 1690 1691 1692 1693 1694 1695 1696 1697 1698 1699 1700 1701 1702 1703 1704 1705 1706 1707 1708 1709 1710 1711 1712 1713 1714 1715 1716 1717 1718 

 

 

  
 Commission
promulgated thereunder applicable to a registration statement under the Securities Act on Form S-1. 
 (vii) All
fees due to the Administrative Agents, the Lead Arranger and the Lenders pursuant to the Fee Letter shall have been paid, and all reasonable expenses to be paid or reimbursed to the Administrative Agents and the Lead Arranger that have been invoiced
a reasonable period of time prior to the Closing Date shall have been paid, in each case, from the proceeds of the initial funding under the applicable Facilities. 
 (viii) Each Facility (or the Notes in lieu of any Facility) shall have been funded as contemplated by this Commitment Letter. 

(ix) With respect to the Bridge Facilities, Silgan shall have engaged, pursuant to an engagement letter, entered into as
of the date of the Commitment Letter (the “Engagement Letter”), one or more investments banks satisfactory to the Lead Arrangers to sell or privately place the Senior Notes, Subordinated Notes and any Take-Out Financings (as defined in the
Fee Letter). With respect to the Bridge Facilities, Silgan shall have provided the Investment Bank (as defined in the Engagement Letter) with a completed preliminary offering memorandum substantially similar to offering memoranda relating to
Silgan’s previously issued high yield debt securities and suitable for use in a “high yield road show” relating to the Senior Notes (with respect to the Senior Bridge Facility) and the Subordinated Notes (with respect to the
Subordinated Bridge Facility) and in form for preliminary offering memoranda used in private placements of non-convertible debt securities under Rule 144A substantially similar to offering memoranda relating to Silgan’s previously issued high
yield debt securities and including a discussion of Silgan, the Acquired Business (and/or their respective subsidiaries), the historical and pro forma financial statements required to be delivered pursuant to paragraph (vi) above (provided that
customary data as to the total assets, revenue, EBITDA and Adjusted EBITDA of non-guarantor subsidiaries shall be provided) and drafts of customary comfort letters by the independent accountants for Silgan, which such accountants are prepared to
issue upon completion of customary procedures. With respect to the Subordinated Bridge Facility, the Investment Bank shall have been afforded a period of at least 10 consecutive business days, or such shorter period as shall be mutually agreed upon
by Silgan and the Investment Bank, following the satisfaction of the condition set forth in the immediately preceding sentence (the “Marketing Period”) to seek to offer and sell or privately place the Subordinated Notes, respectively, with
qualified purchasers thereof. For purposes of determining the Marketing Period, the periods from August 29, 2011 to September 5, 2011 and December 23, 2011 to January 2, 2012 shall not be deemed to be business days. 

(x) After giving effect to the Transaction, Silgan and its subsidiaries shall have outstanding no indebtedness or
preferred stock other than (a) the loans and other extensions of credit under the Facilities (or the Notes in lieu of any Facility), (b) 7.25% Senior Notes of Silgan due 2016 in an aggregate principal amount no greater than $244.4 million,
(c) 8.25% Senior Notes of the Acquired Business (which shall have been assumed by Silgan), due 2017 and 2018, in an aggregate principal amount no greater than $503.4 million minus the principal amount of the Senior Bridge Loans and any Senior
Permanent Securities outstanding after giving effect to the Transaction, and (d) other indebtedness in limited amounts to be mutually agreed upon which shall include indebtedness permitted by the Existing Bank Credit Documentation and by the
existing credit agreement of Graham Packaging Company Inc. The Senior Administrative Agent and the Subordinated Bridge Administrative Agent and, if applicable, the Senior Bridge Administrative Agent shall have received reasonably satisfactory
evidence of repayment of all indebtedness to be repaid on the Closing Date and the discharge (or the making of arrangements for discharge) of all liens other than liens permitted to remain outstanding under the Credit Documentation. 

Annex IV-3 
 1719 1720 1721 1722 1723 1724 1725 1726 1727 1728 1729 1730 1731 1732 1733 1734 1735 1736 1737 1738 1739 1740 1741 1742 1743 1744 1745 1746 1747 1748 1749 1750 1751 1752 1753 1754 1755
1756 1757 1758 1759 1760 1761 1762 1763 1764 1765 

 

 

  
 (xi) To the
extent requested by the Senior Administrative Agent at least ten (10) business days prior to the Closing Date, Silgan and each of the Guarantors shall have provided the documentation and other information to the Administrative Agents that are
required by regulatory authorities under applicable “know-your-customer” rules and regulations, including the Patriot Act, at least five (5) business days prior to the Closing Date. 

Annex IV-4 
 1766 1767 1768 1769 1770

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