Document:

<PAGE>
                                                                     EXHIBIT 4.4

                              REMARKETING AGREEMENT

                                                              September 13, 2002

Morgan Stanley & Co. Incorporated
1585 Broadway
New York, New York 10036

JPMorgan Chase Bank
450 West 33rd Street, 15th Floor,
New York, New York 10001
Attention: Institutional Trust Services

Ladies and Gentlemen:

         This Agreement is dated as of September 13, 2002 (the "AGREEMENT") by
and between The Hartford Financial Services Group, Inc., a Delaware corporation
(the "COMPANY"), Morgan Stanley & Co. Incorporated, as the remarketing agent
(the "REMARKETING AGENT"), and JPMorgan Chase Bank, a New York banking
corporation, not individually but solely as Purchase Contract Agent (the
"PURCHASE CONTRACT AGENT") and as attorney-in-fact of the holders of Purchase
Contracts (as defined in the Purchase Contract Agreement referred to below).

         Section 1. Definitions.

         (a) Capitalized terms used and not defined in this Agreement shall have
the meanings set forth in the Purchase Contract Agreement, dated as of September
13, 2002, between the Company and JPMorgan Chase Bank, as Purchase Contract
Agent, as amended from time to time (the "PURCHASE CONTRACT AGREEMENT").

         (b) As used in this Agreement, the following terms have the following
meanings:

         "PRELIMINARY PROSPECTUS" means any preliminary prospectus relating to
the Remarketed Senior Notes included in the Registration Statement, including
the documents incorporated by reference therein as of the date of such
Preliminary Prospectus; and any reference to any amendment or supplement to such
Preliminary Prospectus shall be deemed to refer to and include any documents
filed after the date of such Preliminary Prospectus, under the Exchange Act, and
incorporated by reference in such Preliminary Prospectus.

         "PROSPECTUS" means the prospectus relating to the Remarketed Senior
Notes, in the form in which first filed, or transmitted for filing, with the
Commission after the effective date of the Registration Statement pursuant to
Rule 424(b), including the documents incorporated by reference therein as of the
date of such Prospectus; and any reference to any amendment or supplement to
such Prospectus shall be deemed to refer to and include any documents filed
after

<PAGE>
the date of such Prospectus, under the Exchange Act, and incorporated by
reference in such Prospectus.

         "REGISTRATION STATEMENT" means a registration statement under the
Securities Act prepared by the Company covering, inter alia, the Remarketing of
the Remarketed Senior Notes pursuant to Section 5(a) hereunder, including all
exhibits thereto and the documents incorporated by reference in the prospectus
contained in such registration statement, and any post-effective amendments
thereto.

         "REMARKETED SENIOR NOTES" means the Pledged Senior Notes and the
Separate Senior Notes, if any, subject to Remarketing as identified to the
Remarketing Agent by the Purchase Contract Agent and the Custodial Agent,
respectively, after 11:00 a.m., New York City time, on the Business Day
immediately preceding the applicable Remarketing Date, and shall include: (a)
(i) in the case of the Initial Remarketing, the Second Remarketing and the Third
Remarketing, the Pledged Senior Notes and (ii) in the case of the Final
Remarketing, the Senior Notes of the Holders of Corporate Units who have not
notified the Purchase Contract Agent prior to 5:00 p.m. on the fifth Business
Day immediately preceding the Purchase Contract Settlement Date of their
intention to effect a Cash Settlement of the related Purchase Contracts pursuant
to the terms of the Purchase Contract Agreement or who have so notified the
Purchase Contract Agent but failed to make the required cash payment on the
fourth Business Day immediately preceding the Purchase Contract Settlement Date
pursuant to the terms of the Purchase Contract Agreement, and (b) the Separate
Senior Notes of the holders of Separate Senior Notes, if any, who have elected
to have their Separate Senior Notes be remarketed in such Remarketing pursuant
to the terms of the Purchase Contract Agreement.

         "REMARKETING" means the remarketing of the Remarketed Senior Notes
pursuant to this Remarketing Agreement.

         "REMARKETING MATERIALS" means the Preliminary Prospectus, the
Prospectus or any other information furnished by the Company to the Remarketing
Agent for distribution to investors in connection with the Remarketing.

         "SENIOR NOTES" means the senior notes due November 16, 2008 of the
Company.

         "TRANSACTION DOCUMENTS" means this Agreement, the Purchase Contract
Agreement, the Pledge Agreement and the Indenture, in each case as amended or
supplemented from time to time.

         Section 2. Appointment and Obligations of the Remarketing Agent.

         (a) The Company hereby appoints Morgan Stanley & Co. Incorporated as
the exclusive Remarketing Agent, and, subject to the terms and conditions set
forth herein, Morgan Stanley & Co. Incorporated hereby accepts appointment as
Remarketing Agent, for the purpose of (i) remarketing the Remarketed Senior
Notes on behalf of the holders thereof, (ii) determining, in consultation with
the Company, in the manner provided for herein and in the Purchase Contract
Agreement and the Indenture, the Reset Rate for the Senior Notes, and (iii)
performing such other duties as are assigned to the Remarketing Agent in the
Transaction Documents.

         (b) Unless a Special Event Redemption has occurred prior to such date,
on the third Business Day immediately preceding August 16, 2006 (the "INITIAL
REMARKETING DATE"), the Remarketing Agent shall use its reasonable efforts to
remarket ("INITIAL REMARKETING") the

                                       2
<PAGE>
Remarketed Senior Notes, at a price (the "REMARKETING PRICE"), based on the
Reset Rate, equal to approximately 100.50% (or, if the Remarketing Agent is
unable to remarket the Remarketed Senior Notes at such rate, at a rate below
100.50% in the discretion of the Remarketing Agent, but in no event less than
100%, net of any Remarketing Fee and any other fees and commissions) of the sum
of the Treasury Portfolio Purchase Price and the Separate Senior Notes Purchase
Price.

         (c) In the case of a Failed Initial Remarketing and unless a Special
Event Redemption has occurred prior to such date, on the third Business Day
immediately preceding September 16, 2006 (the "SECOND REMARKETING DATE"), the
Remarketing Agent shall use its reasonable efforts to remarket (the "SECOND
REMARKETING") the Remarketed Senior Notes at the Remarketing Price. In the case
of a Failed Second Remarketing and unless a Special Event Redemption has
occurred prior to such date, on the third Business Day immediately preceding
October 16, 2006 (the "THIRD REMARKETING DATE"), the Remarketing Agent shall use
its reasonable efforts to remarket (the "THIRD REMARKETING") the Remarketed
Senior Notes at the Remarketing Price. In the case of a Failed Third Remarketing
and unless a Special Event Redemption has occurred prior to such date, on the
third Business Day immediately preceding the Purchase Contract Settlement Date
(the "FINAL REMARKETING DATE"), the Remarketing Agent shall use its reasonable
efforts to remarket (the "FINAL REMARKETING") the Remarketed Senior Notes at a
price (the "FINAL REMARKETING PRICE"), based on the Reset Rate, equal to
approximately 100.50% (or, if the Remarketing Agent is unable to remarket the
Remarketed Senior Notes at such rate, at a rate below 100.50% in the discretion
of the Remarketing Agent, but in no event less than 100%, net of any Remarketing
Fee and any other fees and commissions) of the aggregate principal amount of the
Remarketed Senior Notes being remarketed in such Final Remarketing. It is
understood and agreed that the Remarketing on any Remarketing Date will be
considered successful and no further attempts will be made if the resulting
proceeds are at least 100% (net of any Remarketing Fee and any other fees and
commissions) of the sum of the Treasury Portfolio Purchase Price and the
Separate Senior Notes Purchase Price, in the case of a Remarketing other than
the Final Remarketing, or 100% (net of any Remarketing Fee and any other fees
and commissions) of the aggregate principal amount of the Remarketed Senior
Notes in the case of the Final Remarketing.

         (d) In connection with each Remarketing, the Remarketing Agent shall
determine, in consultation with the Company, the rate per annum, rounded to the
nearest one-thousandth (0.001) of one percent per annum, that the Senior Notes
should bear (the "RESET RATE") in order for the Senior Notes of the Corporate
Unit holders to have an aggregate market value equal to the Remarketing Price or
the Final Remarketing Price, as the case may be, and that in the sole reasonable
discretion of the Remarketing Agent will enable it to remarket all of the
Remarketed Senior Notes at the Remarketing Price or Final Remarketing Price, as
the case may be, in such Remarketing, provided that such rate shall not exceed
the maximum interest rate permitted by law.

         (e) In the event of a Failed Remarketing or if no Senior Notes are
included in Corporate Units, and if none of the holders of the Separate Senior
Notes elect to have Senior Notes be remarketed in such Remarketing, the
applicable interest rate on the Senior Notes will not be reset and will continue
to be the Coupon Rate set forth in the Indenture, as supplemented from time to
time.

                                       3
<PAGE>
         (f) If, by 4:00 p.m. (New York City time) on the applicable Remarketing
Date, the Remarketing Agent is unable to remarket all of the Remarketed Senior
Notes at the Remarketing Price or the Final Remarketing Price, as the case may
be, pursuant to the terms and conditions hereof, a Failed Remarketing shall be
deemed to have occurred, and the Remarketing Agent shall advise, by telephone
the Depositary, the Purchase Contract Agent and the Company, and return the
Remarketed Senior Notes to the Collateral Agent or the Custodial Agent, as the
case may be. Whether or not there has been a Failed Remarketing will be
determined in the sole reasonable discretion of the Remarketing Agent.

         (g) In the event of a Successful Remarketing, by approximately 4:30
p.m. (New York City time) on the applicable Remarketing Date, the Remarketing
Agent shall advise, by telephone:

                  (1) the Depositary, the Purchase Contract Agent and the
         Company of the Reset Rate determined by the Remarketing Agent in such
         Remarketing and the number of Remarketed Senior Notes sold in such
         Remarketing;

                  (2) each purchaser (or the Depositary Participant thereof) of
         Remarketed Senior Notes of the Reset Rate and the number of Remarketed
         Senior Notes such purchaser is to purchase; and

                  (3) each such purchaser to give instructions to its Depositary
         Participant to pay the purchase price on the third business day
         immediately following the date of such Successful Remarketing in same
         day funds against delivery of the Remarketed Senior Notes purchased
         through the facilities of the Depositary.

         The Remarketing Agent shall also, if required by the Securities Act or
the rules and regulations promulgated thereunder, deliver to each purchaser a
Prospectus in connection with the Remarketing.

         (h) After deducting any fees specified in Section 4 below, the proceeds
from a Successful Remarketing (i) with respect to the Senior Notes that are
components of the Corporate Units, shall be paid to the Collateral Agent in
accordance with Sections 5.07 and 7.06 of the Pledge Agreement, as the case may
be, and Section 5.02 of the Purchase Contract Agreement and (ii) with respect to
the Separate Senior Notes, shall be paid to the Custodial Agent for payment to
the holders of such Separate Senior Notes in accordance with Section 5.02 of the
Purchase Contract Agreement and Section 7.06 of the Pledge Agreement.

         (i) The right of each holder of Separate Senior Notes or Corporate
Units to have Remarketed Senior Notes remarketed and sold on any Remarketing
Date shall be subject to the conditions that (i) the Remarketing Agent conducts
an (A) Initial Remarketing, (B) a Second Remarketing in the event of a Failed
Initial Remarketing, (C) a Third Remarketing in the event of a Failed Second
Remarketing and (D) a Final Remarketing in the event of a Failed Third
Remarketing, each pursuant to the terms of this Agreement, (ii) a Special Event
Redemption has not occurred prior to such Remarketing Date, (iii) the
Remarketing Agent is able to find a purchaser or purchasers for Remarketed
Senior Notes at the Remarketing Price or the Final Remarketing Price, as the
case may be, based on the Reset Rate, and (iv) such purchaser or purchasers
deliver the purchase price therefor to the Remarketing Agent as and when
required.

                                       4
<PAGE>
         (j) It is understood and agreed that the Remarketing Agent shall not
have any obligation whatsoever to purchase any Remarketed Senior Notes, whether
in the Remarketing or otherwise, and shall in no way be obligated to provide
funds to make payment upon tender of Remarketed Senior Notes for Remarketing or
to otherwise expend or risk its own funds or incur or to be exposed to financial
liability in the performance of its duties under this Agreement, and without
limitation of the foregoing, the Remarketing Agent shall not be deemed an
underwriter of the Remarketed Senior Notes. Neither the Company nor the
Remarketing Agent shall be obligated in any case to provide funds to make
payment upon tender of the Remarketed Senior Notes for Remarketing.

         Section 3. Representations and Warranties of the Company.

         The Company represents and warrants (i) on and as of the date any
Remarketing Materials are first distributed in connection with the Remarketing
(the "COMMENCEMENT DATE"), (ii) on and as of the applicable Remarketing Date and
(iii) on and as of the settlement date relating to such Remarketing Date, that:

         (a) Each of the representations and warranties of the Company as set
forth in Sections 2(e) through 2(r) of the Underwriting Agreement dated as of
September 9, 2002 (the "UNDERWRITING AGREEMENT") among the Company and the
Underwriters identified in Schedule I thereto, is true and correct as if made on
each of the dates specified above; provided that for purposes of this Section
3(a), (A) any reference in such sections of the Underwriting Agreement to (i)
the "Registration Statement", the "Prospectus" or the "Preliminary Prospectus"
shall be deemed to refer to such terms as defined herein and (ii) the "Time of
Delivery" shall be deemed to refer to the applicable Remarketing Date and (B)
the term "Significant Subsidiary" as used in Section 2(e) of the Underwriting
Agreement shall be deemed to include any subsidiaries of the Company that are,
on each of the dates specified above, "significant subsidiaries" of the Company
within the meaning of Regulation S-X.

         (b) The Registration Statement, if any, in the form heretofore
delivered or to be delivered to the Remarketing Agent, has been declared
effective by the Commission in such form; and no stop order suspending the
effectiveness of the Registration Statement has been issued and no proceeding
for that purpose has been initiated or threatened by the Commission.

         (c) The documents incorporated by reference in the Prospectus, when
they were filed with the Commission, conformed in all material respects to the
requirements of the Exchange Act and the rules and regulations of the Commission
thereunder, and none of such documents contained an untrue statement of a
material fact or omitted to state a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading; and any further documents so filed and
incorporated by reference in the Prospectus or any further amendment or
supplement thereto, when such documents are filed with the Commission, will
conform in all material respects to the requirements of the Exchange Act and the
rules and regulations of the Commission thereunder, and will not contain an
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; provided, however,
that this representation and warranty shall not apply to any statements or
omissions made in reliance upon and in conformity

                                       5
<PAGE>
with information relating to the Remarketing Agent furnished in writing to the
Company by the Remarketing Agent or its counsel expressly for use in the
Prospectus.

         (d) The Registration Statement, if any, conforms (and the Prospectus,
if any, and any further amendments or supplements to the Registration Statement
or the Prospectus, when they become effective or are filed with the Commission,
as the case may be, will conform) in all material respects to the requirements
of the Securities Act and the rules and regulations promulgated thereunder, and
the Registration Statement and the Remarketing Materials (and any amendment or
supplement thereto) as of their respective effective or filing dates and as of
the Commencement Date, applicable Remarketing Date and Purchase Contract
Settlement Date do not and will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading; provided that no representation
and warranty is made as to any statement of eligibility on Form T-1 filed or
incorporated by reference as part of the Registration Statement, the Prospectus
or the Remarketing Materials, or as to information relating to the Remarketing
Agent contained in or omitted from the Registration Statement, the Prospectus or
the Remarketing Materials in reliance upon and in conformity with written
information furnished to the Company by the Remarketing Agent.

         (e) This Agreement has been duly authorized, executed and delivered by
the Company.

         Section 4. Fees.

         (a) In the event of a Successful Remarketing of the Remarketed Senior
Notes prior to the Final Remarketing Date, the Remarketing Agent may retain as a
remarketing fee (the "REMARKETING FEE") an amount equal to the lesser of (i) 25
basis points (0.25%) of the sum of the Treasury Portfolio Purchase Price and the
Separate Senior Note Purchase Price and (ii) the amount of the proceeds of such
Remarketing in excess of the sum of the Treasury Portfolio Purchase Price and
the Separate Senior Notes Purchase Price.

         (b) In the event of a Successful Final Remarketing, the Remarketing
Agent may retain as the Remarketing Fee an amount equal to the lesser of (i) 25
basis points (0.25%), of the principal amount of the Remarketed Senior Notes and
(ii) the amount of the proceeds of such Remarketing on the Final Remarketing
Date in excess of the aggregate principal amount of such Remarketed Senior
Notes.

         Section 5. Covenants of the Company.

         The Company covenants and agrees as follows:

         (a) If and to the extent the Remarketed Senior Notes are required (in
the view of counsel, which need not be in the form of a written opinion, for
either the Remarketing Agent or the Company) to be registered under the
Securities Act as in effect at the time of the Remarketing,

                  (1) to prepare the Registration Statement and the Prospectus,
         in a form approved by the Remarketing Agent, to file any such
         Prospectus pursuant to the

                                       6
<PAGE>
         Securities Act within the period required by the Securities Act and the
         rules and regulations thereunder and to use commercially reasonable
         efforts to cause the Registration Statement to be declared effective by
         the Commission prior to the second Business Day immediately preceding
         the applicable Remarketing Date;

                  (2) to file promptly with the Commission any amendment to the
         Registration Statement or the Prospectus or any supplement to the
         Prospectus that may, in the reasonable judgment of the Company or the
         Remarketing Agent, be required by the Securities Act or requested by
         the Commission;

                  (3) to advise the Remarketing Agent, promptly after it
         receives notice thereof, of the time when any amendment to the
         Registration Statement has been filed or becomes effective or any
         supplement to the Prospectus or any amended Prospectus has been filed
         and to furnish the Remarketing Agent with copies thereof;

                  (4) to file promptly all reports and any definitive proxy or
         information statements required to be filed by the Company with the
         Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the
         Exchange Act subsequent to the date of the Prospectus and for so long
         as the delivery of a Prospectus is required in connection with the
         offering or sale of the Remarketed Senior Notes;

                  (5) to advise the Remarketing Agent, promptly after it
         receives notice thereof, of the issuance by the Commission of any stop
         order or of any order preventing or suspending the use of the
         Prospectus, of the suspension of the qualification of any of the
         Remarketed Senior Notes for offering or sale in any jurisdiction, of
         the initiation or threatening of any proceeding for any such purpose,
         or of any request by the Commission for the amending or supplementing
         of the Registration Statement or the Prospectus or for additional
         information, and, in the event of the issuance of any stop order or of
         any order preventing or suspending the use of any Prospectus or
         suspending any such qualification, to use promptly its best efforts to
         obtain its withdrawal;

                  (6) to furnish promptly to the Remarketing Agent such copies
         of the following documents as the Remarketing Agent shall reasonably
         request: (A) conformed copies of the Registration Statement as
         originally filed with the Commission and each amendment thereto (in
         each case excluding exhibits); (B) the Preliminary Prospectus and any
         amended or supplemented Preliminary Prospectus, (C) the Prospectus and
         any amended or supplemented Prospectus; and (D) any document
         incorporated by reference in the Prospectus (excluding exhibits
         thereto); and, if at any time when delivery of a prospectus is required
         in connection with the Remarketing, any event shall have occurred as a
         result of which the Prospectus as then amended or supplemented would
         include any untrue statement of a material fact or omit to state any
         material fact necessary in order to make the statements therein, in the
         light of the circumstances under which they were made when such
         Prospectus is delivered, not misleading, or if for any other reason it
         shall be necessary during such same period to amend or supplement the
         Prospectus or to file under the Exchange Act any document incorporated
         by reference in the Prospectus in order to comply with the Securities
         Act or the Exchange Act, to notify the Remarketing Agent and, upon its
         request, to file such document and to prepare and furnish without
         charge to the Remarketing Agent and to any dealer in securities as many
         copies as the Remarketing Agent may from time to time reasonably
         request of an amended or

                                       7
<PAGE>
         supplemented Prospectus that will correct such statement or omission or
         effect such compliance;

                  (7) prior to filing with the Commission (A) any amendment to
         the Registration Statement or supplement to the Prospectus or (B) any
         Prospectus pursuant to Rule 424 under the Securities Act, to furnish a
         copy thereof to the Remarketing Agent and counsel to the Remarketing
         Agent; and not to file any such amendment or supplement that shall be
         reasonably disapproved by the Remarketing Agent promptly after
         reasonable notice;

                  (8) as soon as practicable, but in any event not later than
         eighteen months, after the effective date of the Registration
         Statement, to make "generally available to its security holders" an
         "earnings statement" of the Company and its subsidiaries complying with
         (which need not be audited) Section 11(a) of the Securities Act and the
         rules and regulations thereunder (including, at the option of the
         Company, Rule 158). The terms "GENERALLY AVAILABLE TO ITS SECURITY
         HOLDERS" and "EARNINGS STATEMENT" shall have the meanings set forth in
         Rule 158; and

                  (9) to take such action as the Remarketing Agent may
         reasonably request in order to qualify the Remarketed Senior Notes for
         offer and sale under the securities or "blue sky" laws of such
         jurisdictions as the Remarketing Agent may reasonably request; provided
         that in no event shall the Company be required to qualify as a foreign
         corporation or to file a general consent to service of process in any
         jurisdiction.

         (b) To pay: (1) the costs incident to the preparation and printing of
the Registration Statement, if any, any Prospectus and any other Remarketing
Materials and any amendments or supplements thereto; (2) the costs of
distributing the Registration Statement, if any, any Prospectus and any other
Remarketing Materials and any amendments or supplements thereto; (3) any fees
and expenses of qualifying the Remarketed Senior Notes under the securities laws
of the several jurisdictions as provided in Section 5(a)(9) and of preparing,
printing and distributing a Blue Sky Memorandum, if any (including any related
fees and expenses of counsel to the Remarketing Agent); (4) all other costs and
expenses incident to the performance of the obligations of the Company hereunder
and the Remarketing Agent hereunder; and (5) the reasonable fees and expenses of
counsel to the Remarketing Agent in connection with their duties hereunder.

         (c) To furnish the Remarketing Agent with such information and
documents as the Remarketing Agent may reasonably request in connection with the
transactions contemplated hereby, and to make reasonably available to the
Remarketing Agent and any accountant, attorney or other advisor retained by the
Remarketing Agent such information that parties would customarily require in
connection with a due diligence investigation conducted in accordance with
applicable securities laws and to cause the Company's officers, directors,
employees and accountants to participate in all such discussions and to supply
all such information reasonably requested by any such Person in connection with
such investigation.

         Section 6. Conditions to the Remarketing Agent's Obligations.

         The obligations of the Remarketing Agent hereunder shall be subject to
the following conditions:

                                       8
<PAGE>
         (a) The Prospectus, if any, shall have been timely filed with the
Commission; no stop order suspending the effectiveness of the Registration
Statement, if any, or any part thereof shall have been issued and no proceeding
for that purpose shall have been initiated or threatened by the Commission; and
any request of the Commission for inclusion of additional information in the
Registration Statement or the Prospectus or otherwise shall have been complied
with.

         (b) (1) Trading generally shall not have been suspended or materially
limited on the New York Stock Exchange, (2) trading of any securities of the
Company shall not have been materially suspended or limited on the New York
Stock Exchange, (3) a general moratorium on commercial banking activities in New
York shall not have been declared by either Federal or New York State
authorities, or (4) there shall not have occurred a material adverse change in
the financial markets, any outbreak or escalation of hostilities involving the
United States or the declaration by the United States of a national emergency or
war or other calamity or crisis, if the effect of any such event specified in
this clause (4) in the judgment of the Remarketing Agent makes it impracticable
or inadvisable to proceed with the Remarketing or the delivery of the Remarketed
Senior Notes on the terms and in the manner contemplated in the Transaction
Documents.

         (c) The representations and warranties of the Company contained herein
shall be true and correct in all material respects on and as of the applicable
Remarketing Date, and the Company, the Purchase Contract Agent and the
Collateral Agent shall have performed in all material respects all covenants and
agreements contained herein or in the Purchase Contract Agreement or Pledge
Agreement to be performed on their part at or prior to such Remarketing Date.

         (d) The Company shall have furnished to the Remarketing Agent a
certificate, dated the applicable Remarketing Date, of the Chief Executive
Officer and the Treasurer satisfactory to the Remarketing Agent stating that:
(1) no order suspending the effectiveness of the Registration Statement, if any,
or prohibiting the sale of the Remarketed Senior Notes is in effect, and no
proceedings for such purpose are pending before or, to the knowledge of such
officers, threatened by the Commission; (2) the representations and warranties
of the Company in Section 3 are true and correct on and as of the applicable
Remarketing Date and the Company has performed in all material respects all
covenants and agreements contained herein to be performed on its part at or
prior to such Remarketing Date; and (3) the Registration Statement, as of its
effective date, and the Remarketing Materials, as of their respective dates, did
not contain any untrue statement of a material fact and did not omit to state
any material fact required to be stated therein or necessary to make the
statements therein not misleading and the Prospectus did not contain any untrue
statement of material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

         (e) On the applicable Remarketing Date, the Remarketing Agent shall
have received a letter addressed to the Remarketing Agent and dated such date,
in form and substance satisfactory to the Remarketing Agent, of Deloitte &
Touche LLP, the independent accountants of the Company, containing statements
and information of the type ordinarily included in accountants' "comfort
letters" with respect to certain financial information contained in the
Remarketing Materials, if any.

                                       9
<PAGE>
         (f) Each of (1) Debevoise & Plimpton, counsel for the Company, and (2)
General Counsel to the Company, shall have furnished to the Remarketing Agent
its opinion, addressed to the Remarketing Agent and dated the Remarketing Date,
in form and substance reasonably satisfactory to the applicable Remarketing
Agent addressing such matters as are set forth in such counsel's opinion
furnished pursuant to Sections 7(c) and 7(d) of the Underwriting Agreement,
adapted as necessary to relate to the securities being remarketed hereunder and
to the Remarketing Materials, if any, or to any changed circumstances or events
occurring subsequent to the date of this Agreement, such adaptations being
reasonably acceptable to counsel to the Remarketing Agent.

         (g) Davis Polk & Wardwell, counsel for the Remarketing Agent, shall
have furnished to the Remarketing Agent its opinion, addressed to the
Remarketing Agent and dated the applicable Remarketing Date, in form and
substance satisfactory to the Remarketing Agent.

         (h) Subsequent to the execution and delivery of this Agreement and
prior to the applicable Remarketing Date, there shall not have occurred any
downgrading, nor shall any notice have been given of any intended or potential
downgrading or of any review for a possible change that does not indicate an
improvement, in the rating accorded any of the Company's securities by any
"nationally recognized statistical rating organization," as such term is defined
for purposes of Rule 436(g)(2) under the Securities Act.

         Section 7. Indemnification.

         (a) The Company will indemnify and hold harmless the Remarketing Agent,
its partners, directors and officers and each person, if any, who controls the
Remarketing Agent within the meaning of Section 15 of the Securities Act,
against any losses, claims, damages or liabilities, joint or several, to which
the Remarketing Agent may become subject, under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement, the
Prospectus, or any amendments or supplement thereto, or any related Preliminary
Prospectus or preliminary prospectus supplement, or any other Remarketing
Materials, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, and will reimburse the Remarketing Agent
for any legal or other expenses reasonably incurred by the Remarketing Agent in
connection with investigating or defending any such losses, claims, damages,
liabilities or action as such expenses are incurred; provided, however, that the
Company shall not be liable in any such case to the extent that any such loss,
claim, damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission from any of such
documents in reliance upon and in conformity with written information furnished
to the Company by the Remarketing Agent specifically for use therein.

         (b) The Remarketing Agent will indemnify and hold harmless the Company,
its directors and officers and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act, against any losses,
claims, damages or liabilities to which the Company may become subject, under
the Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an

                                       10
<PAGE>
untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, the Prospectus or any amendment or supplement thereto,
or any related Preliminary Prospectus or Preliminary Prospectus supplement, or
any other Remarketing Materials, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, in each case
to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was made in reliance upon and
in conformity with written information furnished to the Company by the
Remarketing Agent specifically for use therein, and will reimburse any legal or
other expenses reasonably incurred by the Company in connection with
investigating or defending any such loss, claim, damage, liability or action as
such expenses are incurred.

         (c) Promptly after receipt by an indemnified party under this section
of notice of the commencement of any action, such indemnified party shall, if a
claim in respect thereof is to be made against the indemnifying party under
subsection (a) or (b) above, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party shall
not relieve it from any liability which it may have to any indemnified party
otherwise than under subsection (a) or (b) above. In the case of parties
indemnified pursuant to subsection (a) above, counsel to the indemnified parties
shall be selected by the Remarketing Agent. An indemnifying party may
participate at its own expense in the defense of any such action; provided,
however, that counsel to the indemnifying party shall not (except with the
consent of the indemnified party) also be counsel to the indemnified party. In
no event shall the indemnifying parties be liable for fees and expenses of more
than one counsel (in addition to any local counsel) separate from their own
counsel for all indemnified parties in connection with any one action or
separate but similar or related actions in the same jurisdiction arising out of
the same general allegations or circumstances. No indemnifying party shall,
without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 7 (whether or
not the indemnified parties are actual or potential parties thereto), unless
such settlement, compromise or consent (i) includes an unconditional release of
each indemnified party from all liability arising out of such litigation,
investigation, proceeding or claim and (ii) does not include a statement as to
or an admission of fault, culpability or a failure to act by or on behalf of any
indemnified party.

         Section 8. Contribution.

         (a) If the indemnification provided for in Section 7 is unavailable to
or insufficient to hold harmless an indemnified party under Sections 7(a) or
7(b), then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities referred to in subsection (a) or (b) above (i) in such proportion as
is appropriate to reflect the relative benefits received by the Company on the
one hand and the Remarketing Agent on the other from the offering of the
Remarketed Senior Notes or (ii) if the allocation provided by clause (i) is not
permitted by applicable law, in such proportions as is appropriate to reflect
not only the relative benefits referred to in clause (i) above but also the
relative fault of the Company on the one hand and the Remarketing Agent on the
other in

                                       11
<PAGE>
connection with the statements of omissions which resulted in such losses,
claims, damages or liabilities as well as any relevant equitable considerations.
The relative benefits received by the Company on one hand and the Remarketing
Agent on the other hand in connection with the Remarketing shall be deemed to be
in the same proportions as the aggregate principal amount of the Remarketed
Senior Notes less the fee paid to the Remarketing Agent on the one hand and the
fee paid to the Remarketing Agent on the other hand bear to the aggregate
principal amount of the Remarketed Senior Notes. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the Company on the one hand
or the Remarketing Agent on the other hand and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and the Underwriters agree that it would not
be just and equitable if contribution pursuant to this subsection (a) were
determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to above in this
subsection (a). The amount paid or payable by an indemnified party as a result
of the losses, claims, damages or liabilities (or actions in respect thereof)
referred to above in this subsection (a) shall be deemed to include any legal or
other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the
provisions of this subsection (a), the Remarketing Agent shall not be required
to contribute any amount in excess of the amount by which the fees received by
it under Section 4 exceeds the amount of any damages which the Remarketing Agent
has otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

         (b) The obligations of the Company under this Section 8 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each officer and director of the
Remarketing Agent and to each person, if any, who controls the Remarketing Agent
within the meaning of the Securities Act; and the obligations of the Remarketing
Agent under this Section 8 shall be in addition to any liability which the
Remarketing Agent may otherwise have and shall extend, upon the same terms and
conditions, to each director of the Company, to each officer of the Company who
signed the Registration Statement and to each person, if any, who controls the
Company within the meaning of the Securities Act.

         (c) The indemnity and contribution provisions contained in Section 7
and this Section 8 and the representations, warranties and other statements of
the Company contained in this Agreement shall remain in full force and effect,
regardless of any investigation (or any statement as to the results thereof)
made by or on behalf of the Remarketing Agent or any person controlling the
Remarketing Agent, or the Company, its officers or director or any controlling
person of the Company, and the completion of the Remarketing.

         Section 9. Resignation and Removal of the Remarketing Agent.

         The Remarketing Agent may resign and be discharged from its duties and
obligations hereunder, and the Company may remove the Remarketing Agent, by
giving 30 days' prior

                                       12
<PAGE>
written notice, in the case of a resignation, to the Company and the Depositary
and, in the case of a removal, to the removed Remarketing Agent and the
Depositary; provided, however, that:

         (a) the Remarketing Agent may not resign without reasonable cause; and

         (b) no such resignation nor any such removal shall become effective
until the Company shall have appointed at least one nationally recognized
broker-dealer as successor Remarketing Agent and such successor Remarketing
Agent shall have entered into a remarketing agreement with the Company, in which
it shall have agreed to conduct the Remarketing in accordance with the
Transaction Documents in all material respects.

         In any such case, the Company will use commercially reasonable efforts
to appoint a successor Remarketing Agent and enter into such a remarketing
agreement with such person as soon as reasonably practicable. The provisions of
Section 7 and Section 8 shall survive the resignation or removal of any
Remarketing Agent pursuant to this Agreement.

         Section 10. Dealing in Securities.

         The Remarketing Agent, when acting as a Remarketing Agent or in its
individual or any other capacity, may, to the extent permitted by law, buy,
sell, hold and deal in any of the Remarketed Senior Notes, Corporate Units,
Treasury Units or any of the securities of the Company (together, the
"SECURITIES"). The Remarketing Agent may exercise any vote or join in any action
which any beneficial owner of such Securities may be entitled to exercise or
take pursuant to the Indenture with like effect as if it did not act in any
capacity hereunder. The Remarketing Agent, in its individual capacity, either as
principal or agent, may also engage in or have an interest in any financial or
other transaction with the Company as freely as if it did not act in any
capacity hereunder.

         Section 11. Remarketing Agent's Performance; Duty of Care.

         The duties and obligations of the Remarketing Agent shall be determined
solely by the express provisions of this Agreement and the Transaction
Documents. No implied covenants or obligations of or against the Remarketing
Agent shall be read into this Agreement or any of the Transaction Documents. In
the absence of bad faith on the part of the Remarketing Agent, the Remarketing
Agent may conclusively rely upon any document furnished to it, as to the truth
of the statements expressed in any of such documents. The Remarketing Agent
shall be protected in acting upon any document or communication reasonably
believed by it to have been signed, presented or made by the proper party or
parties except as otherwise set forth herein. The Remarketing Agent, acting
under this Agreement, shall incur no liability to the Company or to any holder
of Remarketed Senior Notes in its individual capacity or as Remarketing Agent
for any action or failure to act, on its part in connection with a Remarketing
or otherwise, except if such liability is judicially determined to have resulted
from its failure to comply with the material terms of this Agreement or the
gross negligence or willful misconduct on its part. The provisions of this
Section 11 shall survive the termination of this Agreement and shall survive the
resignation or removal of any Remarketing Agent pursuant to this Agreement.

                                       13
<PAGE>
         Section 12. Termination.

         This Agreement shall automatically terminate (i) as to the Remarketing
Agent on the effective date of the resignation or removal of the Remarketing
Agent pursuant to Section 9 and (ii) on the earlier of (x) any Special Event
Redemption Date and (y) the Purchase Contract Settlement Date. If this Agreement
is terminated pursuant to any of the other provisions hereof, except as
otherwise provided herein, the Company shall not be under any liability to the
Remarketing Agent and the Remarketing Agent shall not be under any liability to
the Company, except that if this Agreement is terminated by the Remarketing
Agent because of any failure or refusal on the part of the Company to comply
with the terms or to fulfill any of the conditions of this Agreement, the
Company will reimburse the Remarketing Agent for all of its out-of-pocket
expenses (including the fees and disbursements of its counsel) reasonably
incurred by it. Section 7, Section 8 and Section 11 hereof shall survive the
termination of this Agreement or the resignation or removal of the Remarketing
Agent.

         Section 13. Notices.

         All statements, requests, notices and agreements hereunder shall be in
writing, and:

         (a) if to the Remarketing Agent, shall be delivered or sent by mail,
telex or facsimile transmission to Morgan Stanley & Co. Incorporated, 1585
Broadway, New York, New York, 10036, Attention: Kevin Woodruff (Fax:
212-761-0538);

         (b) if to the Company, shall be delivered or sent by mail, telex or
facsimile transmission to The Hartford Financial Services Group, Inc., Hartford
Plaza, Hartford, Connecticut 06115-1900, Attention: General Counsel (Fax:
860-547-5714); and

         (c) if to the Purchase Contract Agent, shall be delivered or sent by
mail, telex or facsimile transmission to JPMorgan Chase Bank, 450 West 33rd
Street, 15th Floor, New York, New York 10001, Attention: Institutional Trust
Services (Fax: 212-946-8154).

         Any such statements, requests, notices or agreements shall take effect
at the time of receipt thereof.

         Section 14. Persons Entitled to Benefit of Agreement.

         This Agreement shall inure to the benefit of and be binding upon each
party hereto and its respective successors. This Agreement and the terms and
provisions hereof are for the sole benefit of only those persons, except that
(x) the representations, warranties, indemnities and agreements of the Company
contained in this Agreement shall also be deemed to be for the benefit of the
Remarketing Agent and the person or persons, if any, who control the Remarketing
Agent within the meaning of Section 15 of the Securities Act and (y) the
indemnity agreement of the Remarketing Agent contained in Section 7(b) of this
Agreement shall be deemed to be for the benefit of the Company's directors and
officers who sign the Registration Statement, if any, and any person controlling
the Company within the meaning of Section 15 of the Securities Act. Nothing
contained in this Agreement is intended or shall be construed to give any
person, other than the persons referred to herein, any legal or equitable right,
remedy or claim under or in respect of this Agreement or any provision contained
herein.

                                       14
<PAGE>
         Section 15. Survival.

         The respective indemnities, representations, warranties and agreements
of the Company and the Remarketing Agent contained in this Agreement or made by
or on behalf of them, respectively, pursuant to this Agreement, shall survive
any Remarketing and shall remain in full force and effect, regardless of any
investigation made by or on behalf of any of them or any person controlling any
of them.

         Section 16. Governing Law.

         This Agreement shall be governed by, and construed in accordance with,
the laws of New York, without regard to conflicts of laws principles.

         Section 17. Judicial Proceedings.

         (a) Each party hereto expressly accepts and irrevocably submits to the
non-exclusive jurisdiction of the United States Federal or New York State court
sitting in the Borough of Manhattan, The City of New York, New York, over any
suit, action or proceeding arising out of or relating to this Agreement or the
Securities. To the fullest extent it may effectively do so under applicable law,
each party hereto irrevocably waives and agrees not to assert, by way of motion,
as a defense or otherwise, any claim that it is not subject to the jurisdiction
of any such court, any objection that it may now or hereafter have to the laying
of the venue of any such suit, action or proceeding 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.

         (b) Each party hereto agrees, to the fullest extent that it may
effectively do so under applicable law, that a judgment in any suit, action or
proceeding of the nature referred to in Section 17(a) brought in any such court
shall be conclusive and binding upon such party, subject to rights of appeal and
may be enforced in the courts of the United States of America or the State of
New York (or any other court the jurisdiction to which the Company is or may be
subject) by a suit upon such judgment.

         Section 18. Counterparts.

         This Agreement may be executed in one or more counterparts and, if
executed in more than one counterpart, the executed counterparts shall each be
deemed to be an original but all such counterparts shall together constitute one
and the same instrument.

         Section 19. Headings.

         The headings herein are inserted for convenience of reference only and
are not intended to be part of, or to affect the meaning or interpretation of,
this Agreement.

         Section 20. Severability.

         If any provision of this Agreement shall be held or deemed to be or
shall, in fact, be invalid, inoperative or unenforceable as applied in any
particular case in any or all jurisdictions because it conflicts with any
provisions of any constitution, statute, rule or public policy or for any other
reason, then, to the extent permitted by law, such circumstances shall not have
the effect of rendering the provision in question invalid, inoperative or
unenforceable in any other

                                       15
<PAGE>
case, circumstance or jurisdiction, or of rendering any other provision or
provisions of this Agreement invalid, inoperative or unenforceable to any extent
whatsoever.

         Section 21. Amendments.

         This Agreement may be amended by an instrument in writing signed by the
parties hereto. Each of the Company and the Purchase Contract Agent agrees that
it will not enter into, cause or permit any amendment or modification of the
Transaction Documents or any other instruments or agreements relating to the
Senior Notes or the Corporate Units that would in any way adversely affect the
rights, duties and obligations of the Remarketing Agent, without the prior
written consent of the Remarketing Agent.

         Section 22. Successors and Assigns.

         The rights and obligations of the Company hereunder may not be assigned
or delegated to any other Person without the prior written consent of the
Remarketing Agent. The rights and obligations of the Remarketing Agent hereunder
may not be assigned or delegated to any other Person (other than an affiliate of
the Remarketing Agent) without the prior written consent of the Company.

         If the foregoing correctly sets forth the agreement by and between the
Company, the Remarketing Agent and the Purchase Contract Agent, please indicate
your acceptance in the space provided for that purpose below.

                       [SIGNATURES ON THE FOLLOWING PAGE]

                                       16
<PAGE>
                                    Very truly yours,

                                    THE HARTFORD FINANCIAL SERVICES
                                    GROUP, INC.

                                    By: /s/ John N. Giamalis
                                       ---------------------
                                        Name:  John N. Giamalis
                                        Title: Senior Vice President
                                               and Treasurer

CONFIRMED AND ACCEPTED:

MORGAN STANLEY & CO. INCORPORATED,
as Remarketing Agent

By: /s/ Kevin Woodruff
   -------------------
    Name:  Kevin Woodruff
    Title: Executive Director

JPMORGAN CHASE BANK,
not individually but solely as Purchase Contract Agent
and as attorney-in-fact for the Holders of the Purchase Contracts

By: /s/ Joanne Adams
   -----------------
   Name:  Joanne Adams
   Title: Vice President<PAGE>
                                                                    EXHIBIT 10.1

                              AMENDED AND RESTATED
                           RESTRICTED STOCK BONUS PLAN
                                       OF
                            PLASTIPAK HOLDINGS, INC.
                       -----------------------------------

THIS AMENDED AND RESTATED RESTRICTED STOCK BONUS PLAN of the Company is adopted
by the Company as of July 31, 2002.

1. Purpose. This Amended and Restated Restricted Stock Bonus Plan is intended to
promote the interests of the Company and its stockholders and to keep personnel
of experience and ability in the employ of the Company and any Affiliated
Company, and to compensate said personnel for their contributions to the growth
and profits of the Company and any Affiliated Company, and thereby induce them
to continue to make such contributions in the future.

2.       Definitions.

         a. The term "Affiliate," when used with respect to a person or group,
shall mean a person that directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with,
such person or group.

         b. "Change in Control" means the occurrence of any of the following
events:

                  i. If any person or group of persons (other than members of
the Young family, or an "Affiliate" of any member of the Young family, or a
trust established by or for a member of the Young family) acting in concert,
other than the Company, an Affiliate of the Company, the holders of Common Stock
as of the date hereof or an employee benefit plan or employee benefit plan trust
maintained by the Company or a subsidiary, becomes the "beneficial owner" (as
such term is defined in Rule 13d-3 of the Securities Exchange Act of 1934, as
amended, except that a person also shall be deemed the beneficial owner of all
securities which such person may have a right to acquire, whether or not such
right is presently exercisable), directly or indirectly, of securities of the
Company representing greater than fifty (50%) percent or more of the combined
voting power of the Company's then outstanding securities ordinarily having the
right to vote in the election of directors; or

                  ii. A liquidation or dissolution of the Company, sale of all
or substantially all of the assets of the Company (other than to an entity whose
board of directors or management is controlled by members of the Young family),
or a merger, consolidation, share exchange or other combination in which the
Company is not the survivor (except for mergers and similar transactions with
entities whose board of directors or management is controlled by members of the
Young family).

         c. "Company" shall mean PLASTIPAK HOLDINGS, INC., a Michigan
corporation.

         d. "Affiliated Company" means (1) any subsidiary corporation of which
the Company owns a majority of the voting stock outstanding, (2) any
brother-sister corporation in which the majority of outstanding stock is owned,
directly or indirectly, by a majority of the stockholders of the Company, (3)
any subsidiary of a brother-sister corporation described in (2) above, and (4)
any partnership in which the majority of the partnership equity is owned
directly or indirectly by a majority of the stockholders of the Company. For
purposes hereof, the term "Affiliated Company" shall also

<PAGE>
                                                                    EXHIBIT 10.1

include "affiliates" of Company or the Young family, who are persons that
directly, or indirectly through one or more intermediaries control, or are
controlled by, or are under common control with the Company, or the Young
family.

                                       2

<PAGE>

                                                                    EXHIBIT 10.1

         e. "Plan" shall mean this Amended and Restated Restricted Stock Bonus
Plan of the Company, as it may be amended or amended and restated from time to
time.

         f. "Board" shall mean the Board of Directors of the Company.

         g. "Bonus Shares" shall mean the shares of common stock of the Company
reserved pursuant to Section 3 hereof, and

         h. "Recipient" shall mean an employee of the Company or an Affiliated
Company to whom shares are allocated pursuant to this Plan, or his or her
designated beneficiary, surviving spouse, estate, or legal representative.

         i. "Young family" shall include, without limitation, William C. Young,
his spouse and descendants.

3. Bonus Share Reserve. There shall be established a Bonus Share Reserve which
shall be credited with 5,450 shares of the no par value, common stock of the
Company. In the event that the shares of common stock of the Company should, as
a result of a stock split or stock dividend or combination of shares or any
other change, or exchange for other securities, by reclassification,
reorganization, merger, consolidation, recapitalization or otherwise, be
increased or decreased or changed into or exchanged for a different number or
kind of shares of stock or other securities of the Company or of another
corporation, the number of shares then remaining in the Bonus Share Reserve
shall be appropriately adjusted to reflect such action. If any such adjustment
shall result in a fractional share, such fraction shall be disregarded. Upon the
allocation of shares hereunder, this Reserve shall be reduced by the number of
shares so allocated. Distributions of Bonus Shares may, as the Board shall in
its sole discretion determine, be made from authorized but unissued shares. All
authorized and unissued shares issued as Bonus Shares in accordance with the
Plan shall be fully paid and non-assessable shares and free from preemptive
rights.

4. Eligibility and Making of Allocations. Any employee of the Company or an
Affiliated Company shall be eligible to receive an allocation of Bonus Shares
pursuant to the Plan. The Board may, at its discretion, from time to time,
consider the position, responsibilities, value of services and such other
factors as it deems pertinent in making an allocation of Bonus Shares to
selected employees. The date of action by the Board shall be the "date of
allocation" as that term is used in this Plan.

5. Form of Allocation. Each allocation shall specify the number of Bonus Shares
subject thereto. After the making of any allocation, the Board shall advise the
Recipient and the Company thereof by delivery of a written notice substantially
in the form of Exhibit A as annexed hereto.

6. Conditions to Issuance of Bonus Shares. The Bonus Shares allocated to a
Recipient by the Board in accordance with the Plan shall not be issued to a
Recipient until the following have occurred:

         a. A period of five (5) years has lapsed since the "date of
allocation," and

         b. The Recipient has remained in continuous employment of the Company
and/or the employment of an Affiliated Company during said five (5) year period,
and

                                       3

<PAGE>
                                                                    EXHIBIT 10.1

         c. The Recipient has paid the Company by cash or check an amount equal
to the amount due for said Bonus Shares allocated to said Recipient for
issuance, and

         d. The written permission and consent, if required, of the Company's
secured creditors has been received, and

         e. The Recipient has agreed to have the Company withhold from his or
her compensation an amount sufficient to satisfy applicable withholding for
income and employment taxes for the issuance of the Bonus Shares, or shall have
remitted sufficient funds to the Company for such purposes.

7. Issuance of Bonus Shares Upon a Change in Control. Notwithstanding
subparagraph 6(a), upon a Change in Control, the Company shall issue to each
Recipient all Bonus Shares previously allocated to him or her, and the Board, at
its discretion, may make appropriate arrangements for the substitution of a new
Common Stock for such Bonus Shares; provided, however, that to the extent that
the issuance of the Bonus Shares is deemed to constitute a "golden parachute
payment" under Section 280G of the Code and such payment, when aggregated with
other golden parachute payments to the Recipient results in an "excess golden
parachute payment" under Section 280G of the Internal Revenue Code of 1986, as
amended (the "Code"), any issuance of Bonus Shares under this Paragraph 7 shall
be reduced to the highest number of Bonus Shares that shall not subject the
Recipient to an excess golden parachute excise tax under Section 4999 of the
Code and shall entitle the Company to retain its full compensation tax deduction
for such issuance.

8. Restriction on Transfer. Any holder of shares issued under this Plan agrees
not to sell, exchange, assign, pledge, encumber or transfer by gift or
otherwise, any interest in all or any part of the shares received under this
Plan, except as may be hereafter permitted. Notwithstanding the foregoing, a
holder of shares issued under this Plan may sell, exchange, assign, pledge,
encumber or transfer such shares two years following an initial public offering
of the Company's common stock if such transfer is in compliance with federal and
state securities laws and any contractual agreement of the holder.

9. Stock Redemption Provisions. All shares issued pursuant to this Plan shall be
subject to the following terms and conditions:

         a. Resale of Shares to Company. Upon the death of a Recipient who holds
shares issued pursuant to this Plan, or if a Recipient hereunder ceases to be
employed by the Company or an Affiliated Company, whether by reason of
resignation, retirement, dismissal or otherwise, the holder of said shares shall
sell to the Company, and the Company shall purchase from the holder, all the
shares issued to the Recipient under this Plan at the price determined in
accordance with subparagraph (b) immediately below, upon the terms as described
in subparagraph (c) below. Notwithstanding the foregoing, a Recipient's
obligation to sell his or her Bonus Shares back to the Company, and the
Company's obligation to purchase such Bonus Shares, shall terminate two years
following an initial public offering of the Company's common stock.

         b. Price. For purposes of the Plan, the price of the stock required to
be paid by the Company shall be determined by reference to the "Adjusted Book
Value" of said shares as of the preceding fiscal year end of the Company,
computed using the amounts reflected in the financial statements prepared by the
then regularly employed auditing firm of the Company, which shall be binding and
conclusive under this Plan. For purposes hereunder, "Adjusted Book Value" per
share shall mean the sum of: (x) the book value of the Company at the end of the
appropriate corporate fiscal year end, plus (y) Thirteen Million Two Hundred
Eighty-Nine Thousand and no/100 Dollars

                                       4

<PAGE>

                                                                    EXHIBIT 10.1

($13,289,000.00). The amount thus determined shall be divided by the sum of: (x)
the number of issued and outstanding shares of capital stock of the Company at
the end of the appropriate fiscal year end, plus (y) Eight Thousand Three
Hundred Seventy-One (8,371). By way of example, the Adjusted Book Value per
share at October 30, 1999 is $929.00, computed as reflected on Schedule 9(b)(i).
The Adjusted Book Value per share shall be further increased or decreased by:
(1) the amount set forth on Schedule 9(b)(ii) attached hereto, which amount
reflects the dilutive and other effects of the reorganization of the Company and
its Affiliated Companies, and (2) the applicable per share addition set forth on
Schedule 9(b)(iii) attached hereto.

         c. Terms of Payment. The price of the shares to be paid by the Company
shall be paid to the former employee, his executor, or other legal
representative, in cash, or, at the election of the Company, in cash and a note,
within ninety (90) days after termination of employment, or qualification of
said executor or other legal representative. If the Company does not elect to
pay the entire price in cash within said ninety (90) day period, it shall pay
not less than twenty percent (20%) of the price in cash, and shall deliver its
non-negotiable promissory note for the unpaid balance to the former employee,
his executor, or other legal representative, such note to bear interest at ten
percent (10%) per annum and to be payable in twenty (20) equal principal
quarterly payments plus interest, the first of such payments to become due on
the first day of the fourth month following the date of consummation of the
purchase and sale of the shares. The Company shall have the privilege of
prepaying all or a part of said note at any time, or from time to time, without
penalty. Payment by cash, or by cash and note, shall constitute full payment for
the shares and the former employee, his executor, or other legal representative,
shall assign all such stock to the Company at the time of such cash payment or
down payment. If default shall occur in any installment payment and shall
continue for a period of sixty (60) days, the former employee, his executor, or
other legal representative, shall have the right to declare the entire balance
remaining, including interest, due and payable, and the parties shall then be
left to their respective remedies.

         d. Stock Legend. All certificates issued pursuant to this Plan shall
contain a legend reading substantially as follows:

              Any sale, assignment, transfer, conveyance, gift,
              encumbrance, pledge, hypothecation or other
              disposition of the shares of stock represented by
              this certificate is restricted by, and subject to,
              the terms and provisions of a certain Amended and
              Restated Restricted Stock Bonus Plan, a copy of which
              is on file with the Secretary of the Company.

         e. Limitations on Redemption or Repurchase of Shares. Notwithstanding
anything to the contrary contained herein, the Company shall not be obligated to
repurchase or redeem any Bonus Shares issued pursuant to the terms of this Plan
or otherwise, unless such repurchase or redemption, when added to any other
repurchases or redemptions for the applicable fiscal year or other specified
accounting period, complies with each and every covenant under any loan
agreement, indenture, mortgage, or other contract relating to financing
arrangements by which the Company (or any of the Company Affiliates) is, or may
in the future become, bound, which restrict payment(s) for the repurchase or
redemption of the capital stock (Bonus Shares) of the Company. This provision
shall apply to all repurchases or redemptions under the Plan, including, without
limitation, any repurchase(s) or redemption(s) in connection with a change in
control or a bring along or come along transaction pursuant to this Plan.

                                       5

<PAGE>

                                                                    EXHIBIT 10.1

10.      Bring-Along and Come-Along.

         a. Bring-Along. In the event that any one or more of the Company's
stockholder(s) propose(s) to sell greater than Fifty (50%) percent of the
Company's stock, then such stockholder(s) ("Controlling Stockholder(s)") shall
promptly give written notice ("Notice") to all Recipients at least thirty (30)
calendar days prior to the closing of such proposed sale. The Notice shall
describe in reasonable detail the proposed sale including, but without
limitation, the consideration to be paid and the terms of payment, the name and
address of the prospective purchaser(s) and any other material terms of the
proposed sale. The Recipients shall have the right, exercisable upon written
notice to the Controlling Stockholder(s), within ten (10) calendar days after
receipt of the Notice, to participate in such sale. If the Recipients elect(s)
to participate in the sale, he/she/they shall effect his/their participation in
the sale by promptly delivering to the Controlling Stockholder(s) for transfer
to the prospective purchaser(s) the stock certificates representing the
Recipients' stock, properly endorsed for transfer, together with an assignment,
executed in blank, conveying any interest they may have in any stock of the
Company to which they are or may become entitled. Such shares of stock or other
rights to stock shall be transferred to the prospective purchaser(s) for
consummation of the sale, and the Controlling Stockholder(s) shall remit to the
Recipients his/her/their pro rata share of the "Net Sale Proceeds" paid by the
purchaser(s) for all of the Recipients' stock in the Company, as and when such
proceeds are paid to the Controlling Stockholder(s). As used herein, the phrase
"Net Sale Proceeds" shall mean the gross sale proceeds received for the Company
stock, reduced by all costs incurred by the Company and/or the Controlling
Stockholder(s) to analyze, negotiate and consummate the sale of the
stockholders' stock.

         b. Come-Along. At any time the Company's Board of Directors meet, or
act by written consent in lieu of a meeting, to approve a Sale of the Business
(as hereafter defined), all of the Recipients agree to cooperate fully with the
Company and the purchaser(s) in any such Sale of the Business and to execute and
deliver all documents and instruments as the Company and the purchaser(s)
reasonably request to effectuate the Sale of the Business, including, without
limitation, the sale of some or all of the Recipients' stock as may be requested
by the purchaser(s). As used herein, "Sale of the Business" shall mean any
transaction or series of transactions which results in the sale of all or
substantially all of the assets of the Company and its subsidiaries considered
as one enterprise, by way of merger, consolidation or otherwise of the Company
to any person(s) or entity which results in the sale of greater than fifty (50%)
percent of the Company's voting capital stock. Upon the Sale of the Business,
each Recipient will receive his/her pro rata share of the Net Consideration paid
by the purchaser(s), as and when such consideration is paid. As used herein, the
phrase "Net Consideration" shall mean the gross consideration paid by the
purchaser(s) for the stock or assets of the Company reduced by all costs
incurred by the Company to analyze, negotiate and consummate the Sale of the
Business, and further reduced (in the event of an asset sale) by all amounts
needed to repay any and all of the debts of the Company. Net Consideration shall
not be deemed to include any payments to key persons in exchange for future
services to be rendered for the benefit of purchaser(s) or in consideration of
an agreement by any such key person not to compete with the Company or Company
Affiliate(s).

11. Limitations. No person shall at any time have any right to receive an
allocation of Bonus Shares hereunder, and no person shall have authority to
enter into an agreement for the making of an allocation or to make any
representation or warranty with respect thereto. Recipients of allocations shall
have no rights in respect thereof except as set forth in the Plan. Before
issuance of Bonus Shares, no such shares shall be earmarked for the Recipients'
accounts nor shall they have any rights as stockholders with respect to such
shares. Neither the action of the Company in establishing the Plan, nor any
action taken by it or by the Board under the Plan, nor any provision of

                                       6

<PAGE>

                                                                    EXHIBIT 10.1

the Plan shall be construed as giving to any person the right to be retained in
the employment of the Company or any Affiliated Company.

12. Covenant Not to Compete. For the period ending three (3) years following
termination of his or her employment, a Recipient shall not engage in and/or
conduct, within the continental United States and/or any foreign country in
which Company or any Affiliated Company has any substantial business interest,
directly or indirectly, individually or in participation with, or in the employ
of, others (excluding Company and its successors), as a partner, employee,
shareholder, owner, sole proprietor, trustee, beneficiary, officer, director,
joint venturer, sales representative, advisor, consultant or in any similar
capacity and/or relationship, the following activities:

         a. The ownership, management, operation, lease, control of or
participation in any business, venture, activity or endeavor which competes with
the Business (as hereinbelow defined) of Company or Affiliated Company or which
is engaged in the same line of Business as Company or Affiliated Company.

         b. Suffers or permits any such business, venture, activity or endeavor
described or referred to in subparagraph (a) above to so compete with the
Business of Company or Affiliated Company or engage in the same Business as
Company or Affiliated Company.

         c. Solicits, influences, requests and/or advises, directly or
indirectly, any customer and/or supplier or prospective customer and/or supplier
of Company or any Affiliated Company to change, withdraw, curtail or cancel
their business or any part thereof with Company or any Affiliated Company.

         d. Solicits, influences, requests and/or advises, directly or
indirectly, any employee and/or prospective employee to terminate his employment
with, or choose not to become employed by, Company or any Affiliated Company.

         e. Employs, or offers employment to, any employee or former employee of
Company, except in connection with the Business of Company or any Affiliated
Company.

         f. Discloses to any individual, firm, corporation or other entity the
name of any customer, supplier or employee, or prospective customer, supplier or
employee, of Company or any Affiliated Company, except in connection with the
Business of Company or any Affiliated Company.

         g. Discloses to any individual, firm, corporation or other entity any
confidential, financial or proprietary information of the Company or any
Affiliated Company, including, but not limited to, any trade secret, business
method or process, customer list or customer contract, regarding the Business of
the Company or any Affiliated Company, except as may be required by his
employment with Company or any Affiliated Company.

         Recipient has knowledge of the affairs, trade secrets, customers,
potential customers and other proprietary information of the Company, and
Recipient acknowledges and agrees that compliance with the covenants set forth
in this Paragraph 12 is necessary for the protection of the Business, goodwill
and other proprietary interests of the Company, and that any violation of this
Paragraph 12 will cause severe and irreparable injury to the Business, goodwill
and proprietary interests of the Company, which injury is not adequately
compensable by money damages. Accordingly, in the event of a breach (or
threatened or attempted breach) of this Paragraph 12, the Company shall, in
addition to any other rights and remedies, (i) be entitled to immediate
appropriate injunctive relief or a decree of specific performance, without the
necessity of showing any irreparable

                                       7

<PAGE>

                                                                    EXHIBIT 10.1

injury or special damages, (ii) not be obligated to issue any further Bonus
Shares hereunder to Recipient, and (iii) be entitled to cease payments under any
note issued under subparagraph 9(c).

         Recipient acknowledges that, due to Recipient's education and job
skill, Recipient's adherence to the terms of this confidentiality/
non-competition provision will not deprive Recipient of the opportunity to
obtain gainful employment with other companies serving different product or
geographic markets after the termination of Recipient's employment with the
Company.

         Nothing herein shall be deemed to prevent Recipient from holding less
than five (5%) percent of the outstanding publicly-traded securities of any
person, firm, or corporation.

         If, in any judicial proceeding, a court shall refuse to enforce any of
the covenants included herein, then said unenforceable covenant(s) shall be
deemed modified so as to become enforceable to the maximum extent permitted, and
if such modification is not permitted, then such unenforceable covenants shall
be deemed eliminated from these provisions for the purpose of the proceeding to
the extent necessary to permit the remaining separate covenants to be enforced.
It is the intent and agreement of the Company and Recipient that these covenants
be given the maximum force, effect and application permissible under law.

         The provisions of this Paragraph 12 shall survive the termination of
this Plan and Recipient's employment with the Company.

         For purposes of this Plan, the "Business" of the Company shall be
defined as the past, present and future business or businesses of the Company,
engaged in or planned for, as of the date the Recipient's employment with the
Company is terminated. The current business being, generally, described as: The
design, manufacture and marketing of blow-molded, polyethylene terephthalate
("PET") and high density polyethylene ("HDPE") containers and recycled PET and
HDPE containers, including, by way of illustration and not by way of limitation,
containers in the categories listed below:

         1.     Carbonated Beverages;
         2.     Consumer Cleaning Products;
         3.     Food Products;
         4.     Dairy, Juice, Bottled Water and Non-Carbonated Beverages;
         5.     Industrial, Automotive and Agricultural Products;
         6.     Health, Personal Care and Distilled Spirits; and
         7.     Beer and Similar Beverages.

                                       8

<PAGE>

                                                                    EXHIBIT 10.1

13.      Piggyback Registration Rights for Issued Bonus Shares.

         a. Company Initiated Registration. Subject to subparagraph 13(b),
whenever the Company proposes to file a registration statement with the
Securities and Exchange Commission for a public offering of its common stock
(other than a registration statement on Form S-8 or Form S-4, or their
successors, or any other form for a limited purpose, or any registration
statement covering only securities proposed to be issued in exchange for
securities or assets of another corporation), prior to such filing it shall give
written notice to all Recipients who have been issued Bonus Shares of its
intention to do so, and upon the written request of a Recipient or Recipients
given within twenty (20) days after the Company provides such notice (which
request shall state the intended method of disposition of such issued Bonus
Shares), the Company shall use commercially reasonable efforts to cause all
issued Bonus Shares which the Company has been requested to register to be
registered under the Securities Act of 1933, as amended, to the extent necessary
to permit their sale or other disposition in accordance with the intended
methods of distribution specified in the request of such Recipient(s); provided
that the Company shall have the right to postpone or withdraw any registration
it initiates under this Paragraph 13 without any further obligation to any
Recipient.

         b. Limitations on Piggyback Registration for Issued Bonus Shares. The
Company shall not be required to provide Recipients with notice to include the
issued Bonus Shares in a registration statement until two years following an
initial public offering of the common stock of the Company. In connection with
any offering under this Paragraph 13 involving an underwriting, the Company
shall not be required to include any issued Bonus Shares in such underwriting
unless the holders thereof accept the terms of the underwriting as agreed upon
between the Company and the underwriters selected by it. If in the opinion of
the managing underwriter the registration of all, or part of, the issued Bonus
Shares that Recipients have requested to be included would jeopardize the
success of such public offering, then the Company shall be required to include
in the underwriting only that number of issued Bonus Shares, if any, that the
managing underwriter reasonably believes to be compatible with the success of
the offering. In the event of such a reduction in the number of shares to be
included in the underwriting, all Recipients who have requested registration,
together with all other shareholders of the Company who have elected to and do
participate in the offering, shall participate in the underwriting pro rata
based upon their total ownership of common stock of the Company, or in such
other proportions as shall mutually be agreed to among them. The piggyback
registration rights that may be available under this Paragraph 13 shall expire
two (2) years after the last issuance of Bonus Shares issued under this Plan.

14. Expenses of Administration. All costs and expenses incurred in the operation
and administration of this Plan shall be borne by the Company.

15. Amendment and Termination of the Plan. The Board may at any time terminate
the Plan, or make such amendment or modification of the Plan as it shall deem
advisable. No termination or amendment of the Plan shall, without the consent of
any person affected thereby, modify or in any way affect any right or obligation
created prior to such termination or amendment. A Recipient shall indicate
his/her consent to an amendment by execution of an "Acknowledgment, Acceptance
and Agreement to Abide by Terms." Notwithstanding the foregoing, the consent of
a Recipient shall not be required by the Board to amend the Plan to comply with
any restrictive covenant affecting the repurchase or redemption of the
Recipient's shares of stock to which the Company or any Company Affiliate is, or
in the future may become, contractually bound.

16. Alienation of Benefits. No benefit which may be payable pursuant to this
Plan to any Recipient shall be subject in any manner to hypothecation,
alienation, sale, transfer, assignment, pledge, encumbrance or charge; and any
attempt to hypothecate, alienate, sell, transfer, assign,

                                       9

<PAGE>

                                                                    EXHIBIT 10.1

pledge, encumber or charge the same shall be void. No such benefit shall in any
manner be liable for, or subject to, the debts, contracts, liabilities,
engagements or torts of any Recipient; nor shall it be subject to attachment or
legal process for or against any Recipient, and the same shall not be recognized
by the Company, except to such extent as may be required by law.

17. Construction of Plan. This Plan or any related agreement shall be construed
according to the laws of the State of Michigan, and all provisions hereof and
thereof shall be administered according to the laws of such State.

18. Number and Gender. Wherever any words are used in this Plan or any related
agreement in the singular form they shall be construed as though they were also
used in the plural form in all cases where they would so apply and wherever any
words are used herein in the masculine gender shall be construed as though they
were also used in the feminine or neuter gender in all cases where they would so
apply.

19. Headings. Headings of Articles and Paragraphs of this Plan inserted for
convenience of reference only and they shall constitute no part of this Plan,
and shall not be considered in the construction hereof or thereof.

20. Severability. If any provision, sentence or clause of this Plan shall be,
for any reason, invalid or unenforceable, the remaining provisions shall
nevertheless be valid, enforceable and carried into effect.

                                       10
<PAGE>

                                                                    EXHIBIT 10.1

                                    EXHIBIT A

                              AMENDED AND RESTATED
                           RESTRICTED STOCK BONUS PLAN
                                       OF
                            PLASTIPAK HOLDINGS, INC.
                       -----------------------------------

TO:
    ----------------------------

         Please be advised that the Board of Directors of Plastipak Holdings,
Inc. (the "Company") has adopted an Amended and Restated Restricted Stock Bonus
Plan, (a copy of which is available to you upon request) and in accordance with
the Plan, has allocated (number) Bonus Shares to you as of (date of allocation,
    ).
---

         In order for these Bonus Shares to be issued to you, you must remain in
the continuous employment of the Company or in the employment of an Affiliated
Company as defined under the Plan, for a period of five (5) years from (date of
allocation,    ), and pay (amount due) to the Company when the five (5) year
           ---
period expires.

         In addition, you must either agree to have the Company withhold from
your compensation an amount sufficient to satisfy applicable withholding for
income and employment taxes for the issuance of the Bonus Shares, or remit
sufficient funds to the Company for such purposes.

         Furthermore, please be aware that before the Bonus Shares can actually
be issued, the written consent of the Company's secured creditors or other third
parties may be required. If the required consents cannot be obtained at the
expiration of the five (5) year period, your rights to the Bonus Shares will
remain in effect, and the Company will issue the shares to you at a later date
as soon as the required consents are received.

                                        PLASTIPAK HOLDINGS, INC.

                                        By:
                                           -----------------------------------

                                        Its:
                                            -----------------------------------

                                        Date:
                                             ----------------------------------

cc:      Plastipak Holdings, Inc.
         Attention: Secretary

                                       11
<PAGE>
                                                                    EXHIBIT 10.1

                                SCHEDULE 9(B)(I)

                              AMENDED AND RESTATED
                           RESTRICTED STOCK BONUS PLAN
                                       OF
                            PLASTIPAK HOLDINGS, INC.

                       CALCULATION FOR ADJUSTED BOOK VALUE

                        PER SHARE AS OF OCTOBER 30, 1999
                       -----------------------------------

<TABLE>
<CAPTION>

<S>                                                                          <C>
     Net Book Value reflected on Company financials (10/30/1999)             $20,256,000.00
     Plus: Formula Adjustment                                                 13,289,000.00
                                                                              -------------
     Adjusted Book Value                                                     $33,545,000.00

     Outstanding Shares (10/30/1999)                                         27,753
     Plus: Formula Adjustment                                                 8,371
                                                                              -----
     Adjusted Shares                                                                36,124

     Adjusted Book Value per share ($33,545,000.00/36,124)                  $929.00

</TABLE>

                                       12

<PAGE>

                                                                    EXHIBIT 10.1

                                SCHEDULE 9(B)(II)

                              AMENDED AND RESTATED
                           RESTRICTED STOCK BONUS PLAN
                                       OF
                            PLASTIPAK HOLDINGS, INC.

                PER SHARE ADJUSTMENTS TO BOOK VALUE FOR DILUTIVE
                    AND OTHER EFFECTS AS OF OCTOBER 30, 1999
                       -----------------------------------

         Reduction of Seventy-Six and no/100 Dollars ($76.00) per share

                                       13

<PAGE>

                                                                    EXHIBIT 10.1

                               SCHEDULE 9(B)(III)

                             AMENDED AND RESTRICTED
                           RESTRICTED STOCK BONUS PLAN
                                       OF
                            PLASTIPAK HOLDINGS, INC.

                          APPLICABLE PER SHARE ADDITION
                       -----------------------------------

         For Recipients: (i) whose shares are redeemed under Paragraph 9(a) on
or after October 31, 2004, or for Recipients who die, retire at age 65 or
thereafter, or become totally and permanently disabled at any time, the per
share addition shall be $800.00; (ii) for Recipients whose shares are redeemed
under Paragraph 9(a) on or after October 31, 2003 and before October 31, 2004,
the per share addition shall be $640.00; (iii) for Recipients whose shares are
redeemed under Paragraph 9(a) on or after October 31, 2002, and before October
31, 2003, the per share addition shall be $480.00; (iv) for Recipients whose
shares are redeemed under Paragraph 9(a) on or after October 31, 2001 and before
October 31, 2002, the per share addition shall be $320.00; (v) for Recipients
whose shares are redeemed under Paragraph 9(a) on or after October 31, 2000 and
before October 31, 2001, the per share addition shall be $160.00; and (vi) there
shall be no addition for Recipients whose shares are redeemed under Paragraph
9(a) before October 31, 2000.

                                       14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]