Document:

exv4w2

Exhibit 4.2

[Form of Series B Note]

Piedmont Natural Gas Company, Inc.

4.24% Series B Senior Note Due June 6, 2021

	 	 	 

	 
	 	 
	No. [_____]

	 	[Date]
	$[_______]

	 	PPN ###### ###

     For Value Received, the undersigned, Piedmont Natural Gas Company, Inc.
(herein called the “Company”), a corporation organized and existing under the laws of the State of
North Carolina, hereby promises to pay to [____________], or registered assigns, the principal sum
of [_____________________] Dollars (or so much thereof as shall not have been prepaid) on
June 6, 2021, with interest (computed on the basis of a 360-day year of twelve 30-day months) (a)
on the unpaid balance hereof at the rate of 4.24% per annum from the date hereof, payable
semiannually on the 1st day of June and December in each year and at maturity,
commencing with the June or December next succeeding the date hereof, until the principal hereof
shall have become due and payable (whether at maturity, upon notice of prepayment or otherwise),
and (b) to the extent permitted by applicable law, on any overdue payment of interest and, during
the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any
Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 6.24%, or (ii)
2% over the rate of interest publicly announced by Bank of America, N.A. from time to time in New
York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option
of the registered holder hereof, on demand).

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Bank of America, N.A. in New York,
New York or at such other place as the Company shall have designated by written notice to the
holder of this Note as provided in the Note Purchase Agreement referred to below.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
the Note Purchase Agreement, dated as of May 6, 2011 (as from time to time amended, modified,
supplemented, restated and/or replaced from time to time, the “Note Purchase Agreement”), between
the, Company and the respective Purchasers named therein and is entitled to the
benefits thereof. Each subsequent holder of this Note will be deemed, by its acceptance hereof, to
have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase
Agreement and (ii) made the representation set forth in Section 6.2 of the Note Purchase Agreement.
Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings
ascribed to such terms in the Note Purchase Agreement.

     The Company waives all relief from valuation and appraisement laws.

 

 

     This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof, a new Note for a like principal amount will be issued
to, and registered in the name of, the transferee. Prior to due presentment for registration of
transfer, the Company may treat the Person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment and for all other purposes, and the Company will not be
affected by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in
whole or from time to time in part, at the times and on the terms specified in the Note Purchase
Agreement, but not otherwise.

     If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.

     This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

	 	 	 	 	 
	 	Piedmont Natural Gas Company, Inc.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w1

Exhibit 10.1

THIRD AMENDMENT TO THE

RIVERWOOD INTERNATIONAL EMPLOYEES RETIREMENT PLAN

(As Amended and Restated Effective January 1, 2009 and Reflecting Amendments

Adopted Through December 31, 2009)

          WHEREAS, the Compensation and Benefits Committee of the Board of Directors of Graphic
Packaging Holding Company has delegated to the Retirement Committee of Graphic Packaging
International, Inc. (the “Retirement Committee”) the responsibility to make certain amendments to
the Riverwood International Employees Retirement Plan (the “Plan”); and

          WHEREAS, the Retirement Committee deems it desirable to amend the Plan to implement the
retirement strategy approved by the Compensation and Benefits Committee at its meetings held on
November 17, 2010 and February 17, 2011, and to make certain other amendments;

          NOW, THEREFORE, BE IT RESOLVED, that the Plan be, and it hereby is amended, effective as of
the dates indicated below, in the following respects:

	1.	 	The Table of Contents is amended, effective as of June 30, 2011, by referencing the addition
of a new Section 4.08 in Article 4 after Section 4.07 to read as follows:

	 	 	“4.08 Cessation of Benefit Accruals for Non-Grandfathered Members”

	2.	 	Section 1.05 is further amended, effective as of July 1, 2011, by adding a new paragraph (f)
to read as follows:

	 	“(f)	 	 Notwithstanding the above, a Non-Grandfathered Member’s Average Final Salary
shall be determined as of December 31, 2011, or as of his retirement or termination of
employment, if earlier. Notwithstanding the cessation of Benefit Service as of June
30, 2011, for purposes of determining the amount of a Member’s Average Final Salary,
Pensionable Earnings for the 2011 Plan Year shall include Pensionable Earnings for the
period July 1, 2011 to December 31, 2011 to the extent it would have been counted had
Benefit Service continued to be recognized under the Plan for that period.”

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	3.	 	Section 1.11 is amended, effective as of July 1, 2011, by adding the following sentence at
the end thereof:

	 	 	“Notwithstanding the foregoing, a Non-Grandfathered Member’s Covered Compensation shall be
determined as of December 31, 2011, or as of his retirement or termination of employment, if
earlier.”

	4.	 	Article 1 is amended, effective as of July 1, 2011, by renumbering Sections 1.27 through 1.50
as Sections 1.28 through 1.51, respectively, by changing any references to those sections
accordingly, and by adding a new Section 1.27 to read as follows:

	 	“1.27	 	 ‘Non-Grandfathered Member’ means a Member who, on July 1, 2011, failed to meet
one or more of the following requirements:

	 	(a)	 	is age 50 or older,
	 
	 	(b)	 	has completed five or more years of Vesting Service,
	 
	 	(c)	 	is in active employment, is on an approved leave of absence, is
in receipt of benefits under the Employer’s long-term disability plan, or is on
a military leave as described in Section 3.01(c) provided the Member’s
reemployment rights are protected by law on July 1, 2011.”

	5.	 	Section 1.33, as renumbered, is amended, effective as of July 1, 2011, by adding the
following sentence after subparagraph (b):

	 	 	“A Non-Grandfathered Member who is accruing Benefit Service under Section 3.02(a)(iv) as of
June 30, 2011 shall continue to be credited with Pensionable Earnings under the preceding
paragraph for the period July 1, 2011 to December 31, 2011 to the extent he remains Disabled
during that period and does not elect to commence payment of his Pension.”

	6.	 	Section 1.33, as renumbered, is further amended, effective as of July 1, 2011, by adding the
following sentence at the end thereof:

	 	 	“Notwithstanding the above, Pensionable Earnings paid after December 31, 2011 with respect
to a Non-Grandfathered Member shall not be counted under the Plan. In addition, no
Pensionable Earnings shall be imputed for any period of absence after December 31, 2011 with
respect to a Non-Grandfathered Member.”

	7.	 	Section 3.01(d) is amended, effective as of July 1, 2011, by adding the following sentence at
the end thereof:

	 	 	“In addition, a Non-Grandfathered Member who is receiving payments under the Employer’s
long-term disability plan as of June 30, 2011 or who becomes Disabled on or after July 1,
2011 shall continue to be credited with Vesting Service for his period of Disability until
the earlier of the date the Member ceases to be Disabled or commences payment of his
Pension.”

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	8.	 	Section 3.02(a)(ii) is amended, effective as of June 30, 2011, by adding the words “,
provided such service is required to be recognized for benefit accrual purposes under
applicable law” at the end of that subparagraph.

	9.	 	Section 3.02(b) is amended, effective as of June 30, 2011, by adding a new subparagraph (v)
to read as follows:

	 	“(v)	 	 Any period of service or period of absence after June 30, 2011 with respect to
a Non-Grandfathered Member.”

	10.	 	Section 4.01(c) is amended, effective as of July 1, 2011, by deleting the words “the sum of
(i), (ii), (iii), (iv), and (v), but not less than (vi)” and by inserting in their place the
words “the sum of (i), (ii), (iii), (iv), (v) and (vi), but not less than (vii)”, and by
redesignating subparagraphs (iii) through (vi) as subparagraphs (iv) through (vii),
respectively, and by adding a new subparagraph (iii) and revising subparagraph (ii) to read as
follows:

	 	“(ii)	 	 1.20% of Average Final Salary multiplied by Benefit Service accrued as of June
30, 2011 in excess of 35 years.

	 	(iii)	 	0.90% of Average Final Salary multiplied by Benefit Service accrued after June
30, 2011 in excess of 35 years (taking Benefit Service accrued prior to June 30, 2011
into account in determining the Member’s years of Benefit Service in excess of 35
years).”

	11.	 	Section 4.04 is amended, effective as of June 30, 2011, by adding the words “Subject to the
provisions of paragraph (e) below,” at the beginning of the first sentence of paragraph (a),
and by adding a new paragraph (e) to read as follows:

	 	“(e)	 	 Restriction of Benefits for Non-Grandfathered Members. Notwithstanding
the preceding provisions of this Section 4.04, in no event shall a Non-Grandfathered
Member first become eligible for benefits under the provisions of this Section 4.04
after June 30, 2011. In addition, a Non-Grandfathered Member who is accruing Benefit
Service under the provisions of this Section 4.04 as of June 30, 2011 shall cease to
accrue Benefit Service under the provisions of this Section 4.04 as of June 30, 2011.
A Non-Grandfathered Member’s benefit accrued under the provisions of this Section 4.04
shall continue to be governed by the provisions of this Section 4.04 on and after July
1, 2011, including the right to commence payment in accordance with the provisions of
paragraph (d) above and Sections 4.01, 4.02, 4.03 and 4.05. For purposes of
determining a Non-Grandfathered Member’s right to an early retirement Pension and the
early retirement factor to be applied in the event a Member elects to commence payment
of his Pension prior to the Member’s Normal Retirement Date under the provisions of
Section 4.03, a Non-Grandfathered Member who is accruing benefits under the provisions
of this Section 4.04 as of June 30, 2011 shall continue to accrue Vesting Service while
the Member remains Disabled in accordance with the provisions of this Section 4.04 up
to the date the Member’s Pension commences.”

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	12.	 	Article 4 is amended, effective as of June 30, 2011, by adding a new Section 4.08 to read as
follows:

	 	“4.08	 	 Cessation of Benefit Accruals for Non-Grandfathered Members

	 	Notwithstanding any provisions of the Plan to the contrary, in
calculating the benefit payable to or on behalf of a
Non-Grandfathered Member under the Plan after June 30, 2011, the
following rules shall apply:
	 
	 	(a)	 	Benefit Service for benefit accrual purposes shall be frozen as
of June 30, 2011;
	 
	 	(b)	 	Average Final Salary and Covered Compensation shall be frozen
as of December 31, 2011; and
	 
	 	(c)	 	Vesting Service shall continue to be credited in accordance
with the provisions of the Plan for all purposes.”

	 	13.	 	Section 11.02(c) is amended, effective as of June 30, 2011, by adding the following sentence
at the end thereof:

	 	 	“In applying the provisions of the preceding sentence to a Non-Grandfathered Member, the
benefit payable under the Hourly Plan shall be calculated based on the benefit level in
effect at the earlier of the Member’s termination of employment or June 30, 2011.”

               BE IT FURTHER RESOLVED, that the Retirement Committee has approved this Third Amendment to the
Riverwood International Employees Retirement Plan on this sixth day of May, 2011.

	 	 	 	 	 
	 	GRAPHIC PACKAGING INTERNATIONAL, INC.

   RETIREMENT COMMITTEE MEMBERS	 
	 	 	 
	 	By:  	
/s/ Daniel J. Blount 	 
	 	 	Daniel J. Blount 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Brad Ankerholz 	 
	 	 	Brad Ankerholz 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Cindy Baerman 	 
	 	 	Cindy Baerman 	 
	 	 	 	 
	 	 	 
	 	By:  	
/s/ Clint Demetriou 	 
	 	 	Clint Demetriou 	 
	 	 	 	 
	 

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