Document:

exv10w11w4w1

Exhibit 10.11.4.1

LETTER OF GRANT

as of

January 1, 2009

Mr. Daniel R. O’Bryant

Executive Vice President and Chief Financial Officer

Avery Dennison Corporation

150 North Orange Grove Boulevard

Pasadena, California 91103

Dear Mr. O’Bryant:

Avery Dennison Corporation (“Company”) is adopting an amended and restated Avery Dennison
Corporation Supplemental Executive Retirement Plan (“Plan”) effective as of January 1, 2009. The
amended and restated Plan contains the necessary provisions to bring the Plan into compliance with
Internal Revenue Code Section 409A (“Section 409A”). By complying with the requirements of Section
409A, the benefits provided under such nonqualified deferred compensation plan may continue to be
tax deferred. This letter is written to advise you of the changes that the Compensation and
Executive Personnel Committee of the Board of Directors of the Company has made to the Plan in
order to comply with Section 409A.

Calculation of SERP Benefit. As an inducement for you to remain in the service of the
Company, and to provide you with additional incentive to further the growth, development and
financial success of the Company, the Company will continue to provide you with a SERP Benefit that
is determined in accordance with the provisions below and subject to the terms of the Plan.

Your “SERP Benefit” is equal to the annual payment of a straight life annuity commencing the first
day of the month following the month in which you attain age 65 (or the month in which a Payment
Event occurs, if later) with each annual payment equal to fifty-two and one-half percent (52.5%) of
your Average Compensation. The amount determined in the preceding sentence will be reduced for
early commencement:

	(1)	 	In the same manner as provided in the Qualified Plan to the extent your Benefit Commencement
Date is on or after the date you attain age 55. In addition, a 10 percent reduction to the
gross benefit (before offsets) will apply to retirement commencing between the ages 62 to 65;
and,

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	(2)	 	To the extent your Benefit Commencement Date is before the date you attain age 55 and your
SERP Benefit is payable to you in a Lump Sum, then the Lump Sum SERP Benefit will be
Actuarially Equivalent to the SERP Benefit payable to you on the first day of the month
following the date you attain age 55, taking into account the applicable early commencement
factors that would be applied under the Qualified Plan as of such date.

Finally, your SERP Benefit will be further reduced by the Specified Formula Reductions. For the
avoidance of doubt, the rate at which your SERP Benefit accrues will not be adversely affected if
the benefit under the Amended and Restated Benefit Restoration Plan of Avery Dennison Corporation
(“BRP”) is paid prior to the payment of your SERP Benefit by reason of a Change in Control.

Time and Form of Payment. Your SERP Benefit will be paid on the Benefit Commencement Date
determined under the BRP and in accordance with the form of payment specified or, if applicable,
elected under the BRP.

Key Employee Delay. If you are a Key Employee, as determined under the Avery Dennison
Corporation Key Employee Policy or by the Committee for all nonqualified plans in accordance with
the requirements of Code Section 409A, and your SERP Benefit is payable due to your Separation from
Service, as described under the BRP, your Benefit Commencement Date will be no earlier than the
first day of the month that is coincident with or next following the date that is six months after
your Separation from Service, unless an earlier payment complies with a permissible Section 409A
exception (e.g., the payment of employment taxes). To the extent your status as a Key Employee
results in a delayed payment, then, following the end of such six-month period, the Plan will
provide you with a one-time payment equal to the amount you would have been entitled to receive if
your Benefit Commencement Date had not been delayed due to your status as a Key Employee, together
with Interest.

Vesting. You will become vested in your SERP Benefit upon the earliest of the following
dates provided, in the event of (1), (2), or (3), you are an Employee on that date:

	(1)	 	The date you attain age 55;
	 
	(2)	 	The date you suffer a Disability;
	 
	(3)	 	The date of your death;
	 
	(4)	 	The date you have an involuntary Separation from Service from the Company without Cause,
including an involuntary Separation from Service on account of a Change in Control; and
	 
	(5)	 	The date of your Separation from Service for Good Reason.

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Forfeiture. In the event you are terminated by the Company for Cause before you attain age
65, you will forfeit your entire SERP Benefit under the Plan.

Death Benefit. Upon your death, a Death Benefit will be paid only to the spouse to whom
you were married on the date of your death; payment will be made in a Lump Sum (which is the form
in which the “death benefit” under the BRP is paid) at the same time as the “death benefit” under
the BRP, provided such spouse is then living.

The amount of the Lump Sum Death Benefit payable to your spouse will be Actuarially Equivalent to
the amount that would have been payable to your spouse as a survivor benefit hereunder if before
your date of death you attained age 55 (or your actual age, if you are older), commenced benefits
in the form of a 50% Joint and Survivor Annuity, and then died. An additional death benefit, as
described in the SERP, will be payable for a limited time upon your death following your Separation
from Service if you are a Key Employee. This additional death benefit is intended to place your
surviving spouse or, if applicable, your Beneficiary in a position similar to the position in which
your surviving spouse or, if applicable, your Beneficiary would have been if your Benefit
Commencement Date had not been delayed solely due to your status as a Key Employee.

No Death Benefit will be payable hereunder or under the Plan if you die while unmarried before any
scheduled Benefit Commencement Date.

Definitions. For purposes of determining your rights hereunder and under the Plan, the
terms:

	(1)	 	Cause, Disability, Good Reason, Lump Sum and SERP Benefit will have the meanings set forth in
the Plan;
	 
	(2)	 	Actuarial Equivalent and/or Actuarially Equivalent, Average Compensation, and Specified
Formula Reductions will have the meanings set forth in Appendix A hereto; and
	 
	(3)	 	Benefit Commencement Date, Change in Control, Employee, Interest (except for purposes of the
definition of Actuarial Equivalent in Appendix A), Joint and Survivor Annuity, Key Employee,
Qualified Plan, Payment Event, and Separation from Service will have the meanings set forth in
the BRP.

Notwithstanding Section 9.2 of the Plan, neither future amendments nor termination of the Plan will
adversely affect the SERP Benefit to be provided hereunder or under the Plan without your prior
written consent. Notwithstanding Section 4.4 of the Plan, the Committee may not delay or
accelerate the payment of the SERP Benefit without your prior written consent; provided, however,
that in the event the Committee recommends a delay or an acceleration of the SERP Benefit to comply
with Code Section 409A and you do not consent, you hereby

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acknowledge and agree that the Company shall not be liable for any taxes or penalties incurred
under Code Section 409A or otherwise by reason of your lack of consent. (For the avoidance of
doubt, the foregoing sentence shall not be construed to imply that the Company would have any such
liability regardless). The rights provided hereunder and under the Plan may not be sold, pledged,
assigned or transferred in any manner other than by will or by the laws of descent and
distribution, or in accordance with a domestic relations order as described in the Plan.

Please acknowledge your receipt and acceptance of this Letter of Grant, and your agreement to be
bound by all of the terms hereof and of the Plan, by countersigning and dating the enclosed copy of
this letter in the space provided below and returning the same to me.

	 	 	 	 	 
	Very truly yours,	 	 
	 
	 	 	 	 
	AVERY DENNISON CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ David E. I. Pyott	 	 
	 

	 	 	 	 
	 	 	Chairman of the Compensation and Executive Personnel Committee

Date: August 11, 2009

	 	 	 
	I hereby acknowledge having received,
read and understood this Letter of
Grant and the Plan, and agree to be
bound by the terms hereof and of the
Plan.
	 	 
	 
	 	 
	/s/ Daniel R. O’Byrant
	 	 
	 

	 	 

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APPENDIX A

As used in the Letter of Grant to which this Appendix is attached, and herein, the following terms
will have the meanings specified:

	1.	 	“Actuarial Equivalent” or “Actuarially Equivalent” shall mean the equivalent of a given
amount (or series of amounts) payable in another manner or by another means in accordance with
actuarial principles, methods and assumptions as approved for this purpose by the Compensation
and Executive Personnel Committee of the Board of Directors of the Company and which will
include the following:

(a) Mortality – the Applicable Mortality Table defined in Internal Revenue Code Section
417(e)(3)(B) in effect each September, for adjustments made during the one-year period
beginning the subsequent
December 1.

(b) Interest – The Applicable Interest Rate defined in Internal Revenue Code Section
417(e)(3)(C) as of September of each year, for adjustments made during the one-year period
beginning the subsequent
December 1; provided, however, for purposes of the reductions described in paragraphs (3),
(4), and (5) of Appendix B, Interest shall be determined as if the “applicable percentage”
referred to in Code Section 417(e)(3)(D)(iii) were 100 percent for all years.

	2.	 	“Average Compensation” shall mean the annual average of (a) and (b) below:

(a) Your salary for the three highest twelve month periods out of your last sixty
months of employment with the Company; plus

(b) Your three highest earned annual bonuses during your last sixty months of
employment with the Company.

For this purpose your salary and bonus will include any such compensation that is deferred
by you under any Company deferred compensation plan or arrangement.

	3.	 	“Specified Formula Reductions” means the specific reductions to the Plan formula attributable
to Company-provided retirement benefits under plans and arrangements other than the Plan and
certain other amounts determined before January 1, 2009. Said reduction will equal the sum of
the amounts listed in the Specified Formula Reductions Schedule in Appendix B. To the extent
necessary, each amount will be converted to an Actuarially Equivalent straight life annuity
commencing on your Benefit Commencement Date.

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APPENDIX B

Specified Formula Reduction Schedule

The Specified Formula Reduction Schedule is the schedule of amounts attributable to
Company-provided benefits and contributions for or in respect of you and certain other amounts
determined before January 1, 2009, which are taken into account in determining the Specified
Formula Reduction. The amounts are described below and such reduction will be applied as of
your applicable Benefit Commencement Date. Accordingly, to the extent necessary, each such
amount will be converted to an Actuarially Equivalent straight life annuity commencing on your
Benefit Commencement Date before such reduction is applied.

	(1)	 	The Actuarial Equivalent amount payable to or in respect of you under the Qualified Plan
(without regard to any offsets thereunder) and any successor qualified defined benefit
retirement plan offered by the Company; provided such amount satisfies the requirements of
Treasury Regulation Section 1.409A-1(a)(2).
	 
	(2)	 	The Actuarial Equivalent amount payable to or in respect of you under the BRP at the same
time and in the same form as your SERP Benefit.
	 
	(3)	 	The Actuarial Equivalent of the Lump Sum amount of your “Company Contributions Account” and
your “Prior Account” under the Avery Dennison Employee Savings Plan and any successor
qualified defined contribution retirement plan offered by the Company; provided such amount
satisfies the requirements of Treasury Regulation Section 1.409A-1(a)(2).
	 
	(4)	 	The Actuarial Equivalent of the fixed Lump Sum amounts shown in the following table, where
such fixed amounts equal the Company contributions (plus interest) in your account as of
December 31, 2008 under the Avery Dennison Corporation Executive Variable Deferred Retirement
Plan, excluding the ‘EVDRPSU1 2005’ sub-account, projected with fixed assumed contributions
with earnings (as specified in the table) as follows:

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Projected Account Balance as of December 31

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Company	 	 	 	 	 	 	Account	 
	Year-End	 	Age	 	 	Contributions	 	 	Earnings	 	Balance	 
	 
	2008
	 	 	51	 	 	 	 	 	 	 	 	 	 	$	115,724 (actual)	 
	2009
	 	 	52	 	 	$	20,118	 	 	 	5.86	%	 	$	142,623	 
	2010
	 	 	53	 	 	$	20,890	 	 	 	5.86	%	 	$	171,871	 
	2011
	 	 	54	 	 	$	21,870	 	 	 	5.86	%	 	$	203,813	 
	2012
	 	 	55	 	 	$	22,730	 	 	 	5.86	%	 	$	238,486	 
	2013
	 	 	56	 	 	$	23,650	 	 	 	5.86	%	 	$	276,111	 
	2014
	 	 	57	 	 	$	24,630	 	 	 	7.35	%	 	$	321,035	 
	2015
	 	 	58	 	 	$	25,640	 	 	 	7.35	%	 	$	370,272	 
	2016
	 	 	59	 	 	$	26,710	 	 	 	7.35	%	 	$	424,196	 
	2017
	 	 	60	 	 	$	27,830	 	 	 	7.35	%	 	$	483,205	 
	2018
	 	 	61	 	 	$	28,900	 	 	 	7.35	%	 	$	547,620	 
	2019
	 	 	62	 	 	$	30,150	 	 	 	7.35	%	 	$	618,021	 
	2020
	 	 	63	 	 	$	31,760	 	 	 	7.35	%	 	$	695,205	 
	2021
	 	 	64	 	 	$	33,420	 	 	 	7.35	%	 	$	779,723	 
	2022
	 	 	65	 	 	$	35,180	 	 	 	7.35	%	 	$	872,212	 

For Benefit Commencement Dates between the dates in the table above, earnings (under the table)
for the applicable year to be applied to the Reduction Amount for the immediately preceding
year will be computed by multiplying the applicable amount of earnings for the year shown in
the table by a fraction the numerator of which equals the number of whole calendar months after
the preceding date shown in the table, and the denominator of which is 12. The contribution
amount shown in the table will not be added to the Reduction Amount or adjusted for earnings
(under the table) until the last day of the applicable year. These amounts are not subject to
any additional changes on and after January 1, 2009.

	(5)	 	The Actuarial Equivalent of the fixed Lump Sum amounts shown in the following table
(representing the estimated lump sum value, determined as of December 31, 2008, of 12 times
your estimated monthly Primary Social Security Benefit as of the first day of the month next
following the date you attain age 65).

	 	 	 	 	 
	Date	 	  Lump Sum Value
	 
	December 31, 2008
	 	$	157,000	 
	December 31, 2009
	 	$	168,000	 
	December 31, 2010
	 	$	180,000	 
	December 31, 2011
	 	$	192,000	 
	December 31, 2012
	 	$	206,000	 
	December 31, 2013
	 	$	220,000	 
	December 31, 2014
	 	$	236,000	 
	December 31, 2015
	 	$	253,000	 
	December 31, 2016
	 	$	271,000	 

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	Date	 	Lump Sum Value
	 
	December 31, 2017
	 	$	291,000	 
	December 31, 2018
	 	$	315,000	 
	December 31, 2019
	 	$	341,000	 
	December 31, 2020
	 	$	369,000	 
	December 31, 2021
	 	$	397,000	 
	December 31, 2022
	 	$	430,000	 

For Benefit Commencement Dates between the dates in the table above, an interpolated amount
will be computed by multiplying the difference between the values shown in the table at the
most recent and the next succeeding dates by a fraction the numerator of which equals the
number of whole calendar months after the most recent date shown in the table, and the
denominator of which is 12. These amounts will not be subject to any additional changes on and
after January 1, 2009.

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Exhibit 10.1

AGREEMENT

     This Agreement dated as of August 11, 2009, by and between PACKAGING CORPORATION OF AMERICA,
having its principal place of business at 1900 West Field Court, Lake Forest, Illinois 60045
(together with its consolidated subsidiaries, “PCA”), and William J. Sweeney (“Mr. Sweeney”).

     WHEREAS, Mr. Sweeney will retire from his position as Executive Vice President, Corrugated
Products of PCA effective September 15, 2009 (the “Retirement Date”).

     WHEREAS, PCA desires that Mr. Sweeney serve as an advisor to PCA upon his retirement;

     WHEREAS, Mr. Sweeney desires to act as an advisor to PCA;

     NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties do
hereby agree:

     1. Duties. Mr. Sweeney will handle specific projects and assignments in an advisory
capacity as determined by Paul T. Stecko, Chairman and CEO of PCA. Mr. Sweeney will devote best
efforts in the performance of duties assigned and will act in the best interest of PCA in carrying
out those responsibilities. Mr. Sweeney shall cooperate as requested by PCA as to legal or other
matters involving PCA arising out of Mr. Sweeney’s previous employment with PCA. The parties
acknowledge and agree that Mr. Sweeney shall perform services under this Agreement only as an
independent contractor and not as an employee or agent of PCA.

 

 

     2. Fees. Mr. Sweeney shall be paid a fee in cash equal to $30,000 per month, payable
on the final day of each month during the term hereof (prorated for any partial month of service).
Mr. Sweeney shall be entitled to reimbursement for reasonable expenses incurred in connection
with his performance of this Agreement.

     3. Restricted Stock and Stock Options. Mr. Sweeney holds 109,580 shares of
restricted stock of PCA and 4,000 unvested and 67,000 vested options to purchase PCA common stock,
which were awarded during Mr. Sweeney’s service to PCA as an employee. Notwithstanding the
vesting period applicable to such shares of restricted stock, such shares of restricted stock and
unvested stock options shall vest in their entirety, and all restrictions on transfer (other than
restrictions applying as a result of applicable securities laws or the ordinary application of
PCA’s stock trading procedures) of the restricted stock shall lapse, on January 2, 2010.
Notwithstanding anything to the contrary in any stock option award, all stock options held by Mr.
Sweeney shall expire on the earlier of (i) the date on which such stock option would expire
pursuant to its terms or (ii) September 15, 2012, and, subject to compliance with applicable
securities laws and PCA policies and procedures regarding trading in its common stock, Mr. Sweeney
may exercise such options at any time prior to such expiration date.

     4. No Benefits. PCA and Mr. Sweeney agree that the remuneration provided for in
Paragraphs 2 and 3 shall constitute the total compensation due for services hereunder and that no
employee benefits of any kind will be provided except as due Mr. Sweeney as a result of prior
service as a PCA employee under PCA’s plans in which Mr. Sweeney participated. Mr. Sweeney will
not accrue additional benefits or service time as a result of the performance of this Agreement.

2

 

     5. Term. The term of this Agreement shall commence on the Retirement Date and shall
continue in full force and effect until December 31, 2011. This agreement may be terminated
earlier only (i) upon the mutual written agreement of the parties; or (ii) by either party for
convenience at any time by delivering at least 120 days’ prior written notice to the other party.

     6. Confidential Information. Mr. Sweeney acknowledges that the information, observations
and data (including without limitation trade secrets, know-how, research plans, business,
accounting, distribution and sales methods and systems, manufacturing methods and systems, sales
and profit figures and margins and other technical or business information, business, marketing and
sales plans and strategies, cost and pricing structures, and manufacturing techniques of PCA
disclosed or otherwise revealed to him, or discovered or otherwise obtained by him or of which he
has become or becomes aware, directly or indirectly, while employed or otherwise acting for PCA,
whether prior to the date of this Agreement as an employee, pursuant to this Agreement or
otherwise) (all of the foregoing being collectively, “Confidential Information”) are the
property of PCA, and Mr. Sweeney agrees that PCA has a protectable interest in such Confidential
Information. Therefore, Mr. Sweeney agrees that he shall not disclose to any person or use for his
own purposes any Confidential Information without the prior written consent of PCA, unless and only
to the extent that the aforementioned matters: (a) become or are generally known to and available
for use by the public other than as a result of Mr. Sweeney’s acts or omissions or
(b) are required to be disclosed by judicial process or law (provided that Mr. Sweeney shall
give advance written notice of such requirement to PCA as soon as

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practicable under the
circumstances to enable
PCA to seek an appropriate protective order or confidential treatment). PCA shall deliver to
Mr. Sweeney at any time that PCA may reasonably request all memoranda, notes, plans, records,
reports, computer tapes, printouts and software and other documents and data (and copies thereof)
which constitute Confidential Information or Work Product (as defined below) which he may then
possess or have under his control. This Section 6 shall survive the termination of this Agreement.

     7. Work Product.

     (a) Mr. Sweeney hereby assigns to PCA all right, title and interest in and to all inventions,
developments, methods, process, designs, analyses, reports and all similar or related information
(in each case whether or not patentable), all copyrightable works, all trade secrets, confidential
information and know-how, and all other intellectual property rights that both (a) were conceived,
reduced to practice, developed or made by Mr. Sweeney while employed by PCA or as a result of, and
in the course of providing, the services provided hereunder and (b) either (i) relate to PCA’s
business or (ii) are conceived, reduced to practice, developed or made using any of the equipment,
supplies, facilities, assets or resources of PCA (including but not limited to, any intellectual
property rights) (“Work Product”). All Work Product prepared by Mr. Sweeney shall be
deemed to have been prepared for PCA and shall be considered as works for hire and all rights and
the copyrights therefor shall be owned by PCA. Mr. Sweeney hereby assigns to PCA all rights,
titles and interests in and to said copyrights in the United States of America and elsewhere,
including registration and publication rights, rights to create derivative works and all other
rights which are incident to copyright ownership.

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     (b) In the event any court holds such Work Product not to be works for hire, Mr. Sweeney shall
assign such creative works to PCA, at its request, in consideration of the fees paid to Mr. Sweeney
hereunder. Mr. Sweeney shall promptly at PCA’s sole cost and expense perform all actions reasonably
requested by PCA to establish and confirm PCA’s ownership of the Work Product (including, without
limitation, executing and delivering assignments, consents, powers of attorney, applications and
other instruments). This Section 7(b) shall survive the termination of this Agreement.

     8. Noncompetition. Mr. Sweeney agrees that, for the period commencing on the date
hereof and ending on the later of (a) September 15, 2010; and (b) the date of termination of this
Agreement (the “Noncompete Period”), he shall not, directly or indirectly (whether for
compensation or otherwise) own or hold any interest in, manage, operate, control, consult with,
render services for, or in any manner participate in the business of manufacturing, marketing,
designing, distributing or selling containerboard (including, without limitation, linerboard and
corrugating medium) or corrugated containers, displays or products (collectively, and each
individually, being the “Business”) or any business competitive with the Business, whether
as a general or limited partner, proprietor, common or preferred equityholder, officer, director,
agent, employee, consultant, trustee, affiliate or otherwise. Mr. Sweeney acknowledges that PCA
plans to conduct the Business internationally and agrees that the provisions in this Section
8 shall operate throughout the world. Nothing in this Section 8 shall prohibit Mr.
Sweeney from being a passive owner of not more than 2% of the outstanding securities of

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any
publicly traded company engaged in the Business, so long as Mr. Sweeney has no active
participation in the business of such
company.

     9. Non-Solicitation. During the Noncompete Period, Mr. Sweeney shall not directly or
indirectly through another entity (i) induce or attempt to induce any employee of PCA, or any of
their respective affiliates to leave the employ of PCA or any of its affiliates, or in any way
interfere with the relationship between PCA or any of its affiliates and any employee thereof,
(ii) solicit to hire any person who, at anytime during the Non-Compete Period, was an employee of
PCA or any of its affiliates or (iii) induce or attempt to induce any customer, developer, client,
member, supplier, licensee, licensor, broker, sales agent, franchisee or other business relation of
PCA or any of its affiliates to cease doing business with PCA or any of its affiliates, or in any
way interfere with the relationship between any such customer, developer, client, member, supplier,
licensee, licensor, broker, sales agent, franchisee or business relation and PCA or any of its
affiliates (including, without limitation, making any negative statements or communications about
PCA or its affiliates).

     10. Enforcement. If, at the time of enforcement of any of Sections 6 through
9, a court of competent jurisdiction shall hold that the period, scope or area restrictions stated
herein are unreasonable under circumstances then existing, the parties hereto agree that the
maximum period, scope or area reasonable under such circumstances shall be substituted for the
stated period, scope or area and that the court shall be allowed and directed to revise the
restrictions contained herein to cover the maximum period, scope and area permitted by applicable
law. The parties hereto

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acknowledge and agree that Mr. Sweeney has had access to Confidential
Information and
Work Product, that the provisions of Sections 6 through 9 are necessary, reasonable
and appropriate for the business interests of the PCA, that irreparable injury will result to PCA
if Mr. Sweeney breaches any of the provisions of Sections 6 through 9 and that money
damages would not be an adequate remedy therefor and that PCA will not have any adequate remedy at
law for any such breach. Therefore, in the event of a breach or threatened breach of this
Agreement, in addition to other rights and remedies existing in its favor, PCA shall be entitled to
specific performance and/or immediate injunctive or other equitable relief from any court of
competent jurisdiction in order to enforce or prevent any violations of the provisions hereof
(without the necessity of showing actual money damages, or posting a bond or other security).
Nothing contained herein shall be construed as prohibiting PCA or any of its successors or assigns
from pursuing any other remedies available to it for such breach or threatened breach, including
the recovery of damages.

     11. Mr. Sweeney’s Representations and Acknowledgements. Mr. Sweeney hereby represents
and warrants to PCA that (i) Mr. Sweeney is not a party to or bound by any employment agreement,
noncompete agreement, nonsolicitation agreement or confidentiality agreement with any other person,
and (ii) this Agreement constitutes the valid and binding obligation of Mr. Sweeney, enforceable
against Mr. Sweeney in accordance with its terms. Mr. Sweeney hereby acknowledges and represents
that he fully understands the terms and conditions contained herein and intends for such terms and
conditions to be binding on and enforceable against him. Mr. Sweeney expressly agrees and
acknowledges that the restrictions contained in Sections 6 through 9 do not

7

 

preclude Mr. Sweeney from earning a livelihood, nor do they unreasonably impose limitations on Mr.
Sweeney’s ability to earn a living. Mr. Sweeney acknowledges that he has carefully read this
Agreement and has given careful consideration to the restraints imposed upon Mr. Sweeney by this
Agreement, and is in full accord as to the necessity of such restraints. Mr. Sweeney expressly
acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with
respect to subject matter, time period and geographical area.

     12. Notices. All notices and other communications hereunder shall be in writing and
shall be deemed if delivered personally or by facsimile transmission, or mailed by registered or
certified mail (return receipt requested), postage prepaid, to the parties at the following
addresses (or at such other address for a party as shall be specified by like notice; provided that
notices of a change of address shall be effective only upon receipt thereof):

(i)          To PCA:

Packaging Corporation of America

1900 West Field Court

Lake Forest, IL 60045

Attention: Chairman

with a copy to: General Counsel

Facsimile No: 847-482-2194

(ii)           To Mr. Sweeney:

[Address Redacted]

     13. Assignment. This Agreement and the rights and responsibilities hereunder shall not
be assigned or delegated by either party without the prior written

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consent of the other party; provided, however, that PCA shall have the right, without the prior
written consent of Mr. Sweeney, to assign and transfer its rights under that Agreement to any of
its affiliates or any purchaser who acquires all or a substantial part of the assets of its
business or capital stock.

     14. Entire Agreement. This Agreement constitutes the complete and only Agreement
between the parties and all prior agreements are merged into this Agreement. No amendment or
modification of the Agreement between the parties hereto shall be of effect or enforceable unless
stated in writing and signed by Mr. Sweeney and an officer of PCA.

     15. Governing Law; Venue. This Agreement shall be governed by, and construed in
accordance with, the substantive laws of Illinois without regard to conflict of laws. Jurisdiction
and venue with regard to any suit in connection with this Agreement shall reside solely in the
courts of Cook County, Illinois.

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IN WITNESS HEREOF, the parties have signed and delivered this Agreement on the date first above
written.

	 	 	 
	Packaging Corporation of America

	 	William J. Sweeney
	 
	 	 
	By: /s/ Paul T. Stecko

	 	     /s/ William J. Sweeney
	 
	 	 
	Title: Chairman & CEO
	 	 

10

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