Document:

EX-10.6

 Exhibit 10.6 

TRANSITION SERVICES AGREEMENT 

TRANSITION SERVICES AGREEMENT (the “Agreement”) dated as
of                September 21, 2020, between Rank Group Limited, a company organized under the laws of New Zealand (“Rank”) and Pactiv
Evergreen Inc., a Delaware corporation, (the “Company” or “PEI”). Each Party or any of its Affiliates providing services hereunder shall be a “Provider,” and each Party or any of its Affiliates
receiving services hereunder shall be a “Recipient.” 
 PRELIMINARY STATEMENT 

A.        Prior to September 21, 2020 (the “Commencement Date”), the Company was
a wholly owned subsidiary of Packaging Finance Limited, a company organized under the laws of New Zealand (“PFL”) and a wholly owned Affiliate of Rank. 

B.        Effective on the Commencement Date, the Company completed an initial public offering of its
shares of common stock and listing on NASDAQ, and will no longer be a wholly owned subsidiary of PFL, nor a wholly owned Affiliate of Rank. 

C.        In order to facilitate the separation of PEI Group from Rank Group, on and from the
Commencement Date, (i) Rank will provide, or cause its Affiliates to provide, certain services to the PEI Group, and (ii) PEI will provide, or cause its Affiliates to provide, certain services to Rank Group, all on the terms and conditions
set forth herein. 
 NOW, THEREFORE, the Parties agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.1    Definitions. The following terms shall have the respective meanings set forth below throughout
this Agreement: 
 “Affiliate” means, with respect to Rank, any member of the Rank Group, and with respect to PEI, any
member of the PEI Group. 
 “Agreement” has the meaning set forth in the preamble. 

“Applicable Rate” means the average of the daily “prime rate” (expressed rate per annum) published in The Wall
Street Journal for each of the days in the applicable period, plus two percent (2%). 
 “Business” means the
manufacture and distribution of fresh foodservice, food merchandising products and fresh beverage cartons by the Company and activities ancillary thereto. 

“Business Day” means any day that is not (i) a Saturday, (ii) a Sunday, or (iii) any other day on which
commercial banks are authorized or required by law to be closed in the City of New York. 
 “Change” has the meaning set
forth in Section 3.1(c). 
 “Commencement Date” has the meaning set forth in the preamble. 

 “Company” has the meaning set forth in the preamble. 

“Confidential Information” means any information of a Party, its Affiliates, members, licensors, consultants, service
providers, advisors or agents that is confidential or proprietary, however recorded or preserved, whether written or oral. Confidential Information includes trade secrets, pricing data, employee information, customer information, cost information,
supplier information, financial and tax matters, third-party contract terms, inventions, know-how, processes, methods, models, technical information, schedules, code, ideas, concepts, data, software and
business plans (regardless of whether such information is identified as confidential). 
 “Control”, as used with respect
to either Party, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Party, whether through the ownership of voting securities, by contract or otherwise. 

“CSI Business” has the meaning set forth in Exhibit A, Section C.2. 

“Dispute Negotiations” has the meaning set forth in Section 3.3(b). 

“Fees” has the meaning set forth in Section 5.1. 

“Force Majeure Event” has the meaning set forth in Section 10.1. 

“Governmental Authority” means governmental or quasi-governmental entity of any nature (including any governmental agency,
branch, department, official, or entity and any court or other tribunal) or (iii) body exercising, or entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power of any nature,
including any arbitral tribunal. 
 “Indemnified Parties” has the meaning set forth in
Section 9.1. 
 “Indemnifying Party” has the meaning set forth in
Section 9.1. 
 “Lake Forest Office” has the meaning set forth in Exhibit B, Section R-D. 
 “Law” means a law, statute, order, ordinance, rule, regulation, judgment,
injunction, order, or decree. 
 “Litigation” means any action, cease and desist letter, demand, suit, arbitration
proceeding, administrative or regulatory proceeding, citation, summons or subpoena of any nature, civil, criminal, regulatory or otherwise, in law or in equity. 

“Losses” means any and all damages, liabilities, losses, obligations, claims of any kind, interest and expenses (including
reasonable fees and expenses of attorneys). 
 “Party” means Rank or the Company, as applicable (collectively, the
“Parties”). 
 “PEI” has the meaning set forth in the preamble. 

“PEI Group” means PEI or any of its direct or indirect subsidiaries. 

 “Personnel” means, with respect to any Party, (i) the employees,
officers and directors of such Party or its Affiliates or (ii) agents, accountants, attorneys, independent contractors and other third parties engaged by such Party or its Affiliates. 

“PFL” has the meaning set forth in the preamble. 

“Provider” has the meaning set forth in the preamble. 

“Rank” has the meaning set forth in the preamble. 

“Rank Group” means Rank, its affiliates and its subsidiaries excluding the PEI Group. 

“Recipient” has the meaning set forth in the preamble. 

“Reverse Transition Services” has the meaning set forth in Section 2.1(b). 

“Sale and Services Taxes” has the meaning set forth in Section 5.5. 

“Security Incident” has the meaning set forth in Section 4.1. 

“Security Regulations” means a Party’s and its Affiliates’ system security policies, procedures and requirements,
as amended from time to time. 
 “Service Coordinator” has the meaning set forth in
Section 3.3(a). 
 “Service Standard” has the meaning set forth in
Section 3.1(a). 
 “Services” means the Transition Services and the Reverse Transition Services,
unless the context requires otherwise. 
 “Systems” has the meaning set forth in Section 3.5.

 “Tax” means any federal, state, local or foreign income, alternative, minimum, accumulated earnings, personal holding
company, franchise, capital stock, profits, windfall profits, gross receipts, sales, use, value added, transfer, registration, stamp, premium, excise, customs duties, severance, environmental (including taxes under section 59A of the Code),
real property, personal property, ad valorem, occupancy, license, occupation, employment, payroll, social security, disability, unemployment, workers’ compensation, withholding, estimated or other similar tax, duty, fee, assessment or other
governmental charge or deficiencies thereof (including all interest and penalties thereon and additions thereto). 
 “Terminating
Party” has the meaning set forth in Section 6.3. 
 “Term” has the meaning set forth in
Section 6.1. 
 “Termination Date” has the meaning set forth in
Section 6.1. 
 “Transition Services” has the meaning set forth in
Section 2.1(a). 
 “TSA Records” has the meaning set forth in
Section 7.1(a). 

 ARTICLE II 

SERVICES AND INTERNAL CONTROLS 

Section 2.1    Services. 

(a)        In accordance with the terms and conditions of this Agreement, and upon the
request of PEI, Rank shall provide, or shall cause its Affiliates or, subject to Section 2.2, third parties to provide, to the PEI Group (in connection with the conduct of the Business) (as applicable), the services
described on Exhibit A hereto (the “Transition Services”) during the applicable Term of any such Service. Notwithstanding the content of Exhibit A, Rank agrees to consider in good faith any reasonable request by the
Company for access to any additional service that is necessary for the operation of the Business, at fees to be agreed upon after good faith negotiation between the Parties. Rank will not be in breach of this Agreement if it declines to provide a
requested additional service for any good faith reason, including the failure of the Parties to agree to the scope, term, and fee for the additional service. Any such additional services so provided by Rank shall constitute Services hereunder and be
subject in all respects to the provisions of this Agreement as if fully set forth on Exhibit A as of the date hereof. 

(b)        In accordance with the terms and conditions of this Agreement, the Company
shall, upon the request of Rank, provide, or shall cause its Affiliates or, subject to Section 2.2, third parties to provide, to Rank or one or more of its Affiliates, the services described on Exhibit B hereto (the
“Reverse Transition Services”) during the applicable Term of any such Service. Notwithstanding the content of Exhibit B, PEI agrees to consider in good faith any reasonable request by Rank for access to any additional service
that is necessary for the operation of its business, at fees to be agreed upon after good faith negotiation between the Parties. PEI will not be in breach of this Agreement if it declines to provide a requested additional service for any good faith
reason, including the failure of the Parties to agree to the scope, term, and fee for the additional service. Any such additional services so provided by PEI shall constitute Services hereunder and be subject in all respects to the provisions of
this Agreement as if fully set forth on Exhibit B as of the date hereof. 
 Section 2.2    Performance by
Affiliates or Subcontractors.    Either Party may, in its sole discretion, engage, or cause one of its Affiliates to engage, one or more parties (including other third parties or Affiliates) to provide some or all of the
Services; provided, (i) such Party is using such Affiliate or third party to perform the same Services for itself and its Affiliates (to the extent applicable), (ii) such arrangement would not increase the cost to the Recipient for such
Services, and (iii) if such third party is not already engaged with respect to such Service as of the date hereof, the Provider shall obtain the prior written consent of the Recipient (not to be unreasonably withheld). The Provider shall
(x) be responsible for the performance or non-performance of any such parties and (y) in all cases remain responsible for ensuring that obligations with respect to the standards of Services set forth
in Article III of this Agreement are satisfied with respect to any Services provided by such Affiliate or third party. 

Section 2.3    Scope of Services. Other than as expressly set forth on Exhibit A, Exhibit B,
Section 2.1, or as agreed by the Parties in writing, in no event shall the Provider be obligated to provide any Service to the Recipient for any purpose other than to facilitate, on a transitional basis, the
Recipient’s ability to conduct business as it was conducted immediately preceding the date hereof. 

 Section 2.4    Internal Controls and Procedures. In addition
to the requirements of Article III and Article VII herein, with respect to the Services provided by Rank and its Affiliates providing Services hereunder, certain of the Services may involve processes that directly or indirectly support
financial information that the Company includes within its consolidated financial reports. The Company has an obligation to ensure that it has internal controls over financial reporting and must also ensure that its external auditors can complete
their necessary evaluation of the Company’s internal controls over financial reporting in accordance with applicable auditing standards. The Company and Rank and such Affiliates shall use reasonable commercial efforts to agree (i) what key
controls over financial reporting will be performed by Rank and such Affiliates within the processes that directly or indirectly support financial information that the Company includes within its consolidated financial reports; (ii) the
frequency as to the performance of the agreed key controls; and (iii) the form of documentation required to evidence the effective performance of the agreed key controls. Rank and its Affiliates will perform the agreed key controls and evidence
such performance in the agreed format. The Company shall have the right, in a manner to avoid unreasonable interruption to Rank’s or its Affiliates’ business, to (1) evaluate the effectiveness of the key controls; and (2) upon at
least thirty (30) days’ written notice to Rank, perform (through its external auditor) audit procedures over Rank’s internal controls and procedures for the Services provided under this Agreement; provided that such right to audit
shall exist solely to the extent reasonably required by the Company’s external auditors. The Company shall pay or reimburse all of Rank’s expenses and costs arising from such audit. The performance of the agreed key controls,
preparation of documentation, providing access to the Company or its delegate and the Company’s auditors will be billed at the agreed rates as set forth on Exhibit A. 

ARTICLE III 
 SERVICE LEVELS;
SERVICE COORDINATORS; TSA COMMITTEE 
 Section 3.1    Quality of Services. 

(a)        A Provider shall perform the Services (i) at a level of quality
substantially similar in all material respects to that at which such Services were performed or enjoyed during the twelve (12) month period prior to the date hereof and (ii) in accordance with applicable Law (collectively, (i) and
(ii), the “Service Standard”). Subject to Section 3.1(c), internal controls of a Provider and its Affiliates with respect to the Service Standard shall remain materially the same in effect throughout the
term of this Agreement. Each Party acknowledges that the other Party and its Affiliates are not professional service providers of the Services. 

(b)        In the event of any material failure of a Provider to perform the Services,
as applicable, in accordance with the Service Standards, the Recipient shall provide the Provider with written notice of such material failure, and the Provider will use commercially reasonable efforts to remedy such failure as soon as reasonably
possible and in the same manner that the Provider would remedy such a failure for its other businesses undergoing such a material failure. 

(c)        A Provider may, from time to time: (i) reasonably supplement, modify,
upgrade, substitute or otherwise alter (“Change”) any Service in a manner consistent with Changes made with respect to similar services provided by a Provider on its own behalf or to its Affiliates, including taking any physical or
information security measures with respect to such Service, in a manner that does not (x) adversely affect in any material respect the quality or availability of such Service or (y) materially increase

 
the fees payable in connection with such Changed Service; provided that to the extent that any such Change is reasonably likely to modify, substitute or otherwise alter the receipt or use
of such Service, a Provider shall provide the Recipient with reasonable advance written notice of the implementation of the Change to the extent practicable under the circumstances; provided, further, that the Service Standard shall
continue to apply to such Service following any Change. If a Change is required by applicable Law or is in response to a threatened Security Incident, a Provider may make any and all changes to the Service necessary to comply with applicable Law and
any changes thereto or to respond to such threatened Security Incident in a manner consistent with responses made by a Provider on its own behalf or in respect of its Affiliates; provided that a Provider shall provide the Recipient such
reasonable advance written notice of the implementation of any such Change as may be practicable under the circumstances; and (ii) with reasonable advance written notice to the Recipient, temporarily suspend the provision of a Service as
necessary to conduct Systems maintenance or patching without such suspension constituting a breach of the Service Standard. 

(d)        A Provider need not provide any Service if it is not permitted to do so by
applicable Law. To the extent that any Service is not permitted pursuant to applicable Law, the Parties will cooperate in good faith to enter into arrangements reasonably acceptable to each of the Parties under which the Recipient would obtain the
benefit of such Service to the same extent (or as nearly as practicable) as if such Service were permitted by applicable Law. 

Section 3.2    Policies. Each Party shall, and shall cause any of its Affiliates or third parties providing or
receiving Services (as the case may be) to, follow the reasonable policies, procedures and practices of the other Party and its Affiliates applicable to the Services that are known or made known to such Party. A failure of a Recipient to act in
accordance with this Section 3.2 that prevents a Provider from providing a Service hereunder shall, upon reasonable advance written notice to the Recipient (where practicable), relieve the Provider of its obligations under
the Service until such time as the failure has been cured. 
 Section 3.3    Service Coordinators and Dispute
Resolution. 
 (a)    The Parties shall each nominate a representative to act as the primary contact
person with respect to the performance of the Services (each, a “Service Coordinator”). Unless otherwise agreed upon by the Parties, the Parties shall direct all initial communications relating to this Agreement and the
Services to the Service Coordinators. The initial Service Coordinators for the Parties, including their contact information, are set forth on Exhibit C. Either Party may replace its Service Coordinator at any time by providing notice and
contact information for the newly designated Service Coordinator in accordance with Section 10.5. The Service Coordinators shall oversee the implementation and ongoing operation of this Agreement. The Parties shall ensure
that their respective Service Coordinators shall meet in person or telephonically at such times as are reasonably requested by Rank or the Company to review and discuss the status of, and any issues arising in connection with, the Services or this
Agreement. 
 (b)    In the event a dispute arises between the Parties under this Agreement, telephonic
negotiations shall be conducted between the Parties’ respective Service Coordinators within ten (10) days following a written request from any Party (“Dispute Negotiations”). If the Service Coordinators are unable to
resolve the dispute within ten 

 
(10) days after the Parties have commenced Dispute Negotiations, then either Rank or the Company, by written request to the other Party, may request that such dispute be referred for resolution
to the respective presidents (or similar position) of the divisions implicated by the matter for the Parties, or more senior executive of a Party if such Party so designates, which presidents (or other executives) will have fifteen (15) days to
resolve such dispute. If the presidents of the relevant divisions (or other executives) for each Party do not agree to a resolution of such dispute within fifteen (15) days after the reference of the matter to them, or if the dispute is not
otherwise resolved in a friendly manner as set forth in this Section 3.3, then any unresolved dispute may be resolved pursuant to Section 10.8. 

Section 3.4        Limitation of Services Provided. Except to the extent required to meet
the Service Standards, in providing the Services, the Parties are not obligated to: (i) hire any additional employees; (ii) maintain the employment of any specific employee; (iii) purchase, lease or license any additional equipment or
software; or (iv) make any capital investment to provide or continue providing the Services. The Parties have no responsibility to verify the correctness of any information given to them on behalf of the other Party for the purposes of
providing the Services. 
 Section 3.5        Third Party Licenses and Consents. The
Parties will cooperate and assist each other, and use commercially reasonable efforts, to obtain, or direct its Affiliates to obtain, any third party consents required under the terms of any agreement between a Party or any of its Affiliates, on the
one hand, and a third party, on the other hand, in order for a Party or its Affiliates to provide the Services during the Term. Notwithstanding the foregoing, if the provision of any Service as contemplated by this Agreement requires the consent,
license or approval of any third party not previously obtained, the Parties shall use commercially reasonable efforts, to obtain as promptly as possible after the Commencement Date, any third party consents, permits, licenses and approvals required
under the terms of any third party agreement in order for the Provider to provide the Services hereunder. The cost of obtaining any consent, permit, license or approval with respect to any Service shall be borne by the Recipient of the relevant
Services. If any such consent, permit, license or approval is not obtained, the Parties will cooperate in good faith to enter into reasonably acceptable arrangements under which the Recipient would obtain the benefit of such Service to the same
extent (or as nearly as practicable) as if such consent were obtained (at the Recipient’s cost), and each Party will continue to use commercially reasonable efforts to obtain any such required consent or amendment. The Parties acknowledge that
it may not be practical to try to anticipate and identify every possible legal, regulatory, and logistical impediment to the provision of Services hereunder. Accordingly, each Party will promptly notify the other Party if it reasonably determines
that there is a legal, regulatory, or logistical impediment to the provision of any Service, and the Parties shall each use commercially reasonable efforts to overcome such impediments so that the Services may be provided otherwise in accordance
with the terms of this Agreement. All computer systems or software (“Systems”), data, facilities and other resources owned by a Party, its Affiliates or third parties used in connection with the provision or receipt of the Services,
as applicable, shall remain the property of such Party, its Affiliates or third parties. 
 ARTICLE IV 

SECURITY; SYSTEMS 

Section 4.1        Security Breaches. If any Party discovers (a) any material breach
of the Security Regulations or of the systems used to provide the Services or (b) any breach or 

 
threatened breach of the Security Regulations that involves or may reasonably be expected to involve unauthorized access, disclosure or use of the other Party’s or its Affiliates’
Confidential Information (each of (a) and (b), a “Security Incident”), such Party shall, at the cost of the Party responsible for the Security Incident, (i) promptly (both orally, if practicable, and in any event in
writing) notify the other Party of the Security Incident and (ii) reasonably cooperate with the other Party (1) to take commercially reasonable measures necessary to control and contain the security of such Confidential Information,
(2) to remedy any such Security Incident, including using commercially reasonable efforts to identify and address any root causes for such Security Incident, (3) to furnish full details of the Security Incident to the other Party and keep
such other Party advised of all material measures taken and other developments with respect to such Security Incident, (4) in any litigation or formal action with third parties or in connection with any regulatory, investigatory or other action
of any Governmental Authority and (5) in notifying the other Party’s or its Affiliates’ customers and Personnel and other persons of the Security Incident to the extent reasonably requested by the other Party. 

Section 4.2        Systems Security. 

(a)    If Rank, the Company, their Affiliates or their respective Personnel receive access to any of
Rank’s, the Company’s, or their respective Affiliates’, as applicable, Systems in connection with the Services, the accessing Party or its Personnel, as the case may be, shall comply with all of such other Party’s and its
Affiliates’ reasonable Security Regulations known to such accessing Party or its Personnel or made known to such accessing Party or its Personnel in writing, and will not tamper with, compromise or circumvent any security, Security Regulations
or audit measures employed by such other Party or its relevant Affiliate. 
 (b)    Each Party shall,
and shall cause its Affiliates to, as required by applicable Law, (i) ensure that only those of its Personnel who are specifically authorized to have access to the Systems of the other Party or its Affiliates gain such access and
(ii) prevent unauthorized access, use, destruction, alteration or loss of information contained therein, including by notifying its Personnel regarding the restrictions set forth in this Agreement and establishing appropriate policies designed
to effectively enforce such restrictions. 
 (c)    Each Party shall, and shall cause its respective
Affiliates to, access and use only those Systems of the other Party and its Affiliates, and only such data and information within such Systems, to which they have been granted the right to access and use. Any Party and its Affiliates shall have the
right to deny the Personnel of the other Party or its Affiliates access to such first Party’s or its Affiliates’ Systems, after prior written notice and consultation with the other Party, in the event the Party reasonably believes that
such Personnel pose a security concern. 
 Section 4.3        Viruses. The Provider and
the Recipient shall each use its commercially reasonable efforts consistent with its past practices to prevent the introduction or coding of viruses or similar items into the Systems of the other Party. Without limiting the rights and remedies of
any Party hereunder, in the event a virus or similar item is introduced into the Systems of a Party, whether or not such introduction is attributable to the other Party (including such other Party’s failure to perform its obligations under this
Agreement), the other Party shall, as soon as practicable, use its commercially reasonable efforts to assist such Party in reducing the effects of the virus or similar item, and if the virus or similar item causes a loss of operational efficiency or
loss of data, upon such Party’s request, work as soon as practicable to contain and remedy the problem and to restore lost data resulting from the introduction of such virus or similar item. 

 Section 4.4        Provider’s
Software. Except as authorized by this Agreement or by the Provider’s express written consent, the Recipient shall not, and shall cause its Affiliates not to, copy, modify, reverse engineer, decompile or in any way alter any software of the
Provider or any of its Affiliates. 
 Section 4.5        System Upgrades. No Provider
shall be required to purchase, upgrade, enhance or otherwise modify any Systems used by any Recipient as of the date hereof in connection with the business of any Party, or to provide any support or maintenance services for any Systems that have
been upgraded, enhanced or otherwise modified from the Systems that are used in connection with the business of any Party as of the date hereof. 

ARTICLE V 
 FEES 

Section 5.1        Fees. The Recipient shall pay the Provider (i) the fee for each
Service set forth on Exhibit A or Exhibit B, (ii) the Provider’s and its Affiliates’ reasonable and documented
out-of-pocket expenses incurred in providing the Services, including the third-party fees and expenses that are charged to the Provider or its Affiliates in connection
with provision of the Services (including any fees and expenses charged by subcontractors permitted to provide the Services under Section 2.2) but excluding payments made to employees of the Provider or any of its
Affiliates pursuant to Section 5.2, and (iii) any other fees as agreed to by the Parties in writing (collectively, the “Fees”). 

Section 5.2        Responsibility for Wages and Fees. Any employees of the Provider or any
of its Affiliates providing Services to the Recipient or its Affiliates under this Agreement will remain employees of the Provider or such Affiliate and shall not be deemed to be employees of the Recipient for any purpose.    The
Provider or such Affiliate shall be solely responsible for the payment and provision of all wages, bonuses and commissions, employee benefits, including severance and worker’s compensation, and the withholding and payment of applicable Taxes
relating to such employment. 
 Section 5.3        Invoices. The Provider shall submit
or cause to be submitted to the Recipient in writing, within 15 days after the end of each month, an invoice setting forth the Fees for the Services provided to the Recipient or its Affiliates during such month in reasonable detail, as applicable,
due under such invoice. 
 Section 5.4        Payment. The Recipient shall pay, or cause
to be paid, the Fees shown on an invoice no later than the last business day of the month the Recipient received such invoice unless disputed in accordance with Section 5.7. Any amount not received from the invoiced Party
within such period shall bear interest at the Applicable Rate, from and including the last date of such period to, but excluding, the date of payment. 

Section 5.5        Sales Tax, Etc. The Provider shall be entitled to invoice and collect
from the Recipient any additional amounts required for state, local and foreign sales Tax, value added Tax, goods and services Tax or similar Tax with respect to the provision of the Services hereunder, as applicable (“Sale and Services
Taxes”). Notwithstanding the previous sentence, if the Recipient is exempt from liability for such Sale and Services Taxes, it shall provide the Provider with a certificate (or other proof) evidencing an exemption from liability for such
Sale 

 
and Services Taxes. The Provider shall be responsible for any losses (including any deficiency, interest and penalties) imposed as a result of a failure to timely remit such Sale and Services
Taxes to the applicable tax authority to the extent the Recipient timely remits such Sale and Services Taxes to the Provider, or the Provider’s failure to do so results from the Provider’s failure to timely charge or invoice such Sale and
Services Taxes. The Recipient shall be entitled to any refund of any such Sale and Services Taxes paid in excess of liability as determined at a later date. The Provider shall promptly notify the Recipient of any deficiency claim or similar notice
by a tax authority with respect to Sale and Services Taxes payable hereunder, and of any pending audit or other proceeding that could lead to the imposition of Sales and Services Taxes payable hereunder. 

Section 5.6        No Offset. The Recipient shall not withhold any payments due under this
Agreement in order to offset payments due (or to become due) to the Recipient pursuant to this Agreement unless such withholding is mutually agreed to by the Parties in writing or is provided for in the final ruling of a court. Any required
adjustment to payments due hereunder will be made as a subsequent invoice. 

Section 5.7        Invoice Disputes. In the event of an invoice dispute, the disputing
Party shall deliver a written statement to the other Party no later than the date payment is due on the disputed invoice listing all disputed items and providing a reasonably detailed description of each disputed item. Amounts not so disputed shall
be deemed accepted and shall be paid, notwithstanding disputes on other items, within the period set forth in Section 5.4. The Parties shall seek to resolve all such disputes expeditiously and in good faith. The Provider
shall continue performing the Services in accordance with this Agreement pending resolution of any dispute. 

Section 5.8        Audit. At the request of the Recipient, the Provider shall provide to
the Recipient and its Affiliates reasonable access to the Provider’s applicable Personnel and records with respect to the amount charged in connection with any Service so that the Recipient may confirm that the pass-through costs incurred by
the Provider or, to the extent such Service is provided on an hourly basis, information related to hours worked in connection with such Service are commensurate with the amount charged to the Recipient for such Service. In the event the Recipient
believes that the amount charged to the Recipient materially exceeds the pass-through costs actually incurred by the Provider or hours charged in connection with such Service, the Parties shall review such matter in good faith. 

ARTICLE VI 
 TERM AND TERMINATION

 Section 6.1        Term of Services. With respect to each of the Services, the term
thereof will be for a period commencing as of the date hereof, unless a different date is specified as the commencement date for any applicable Service on Exhibit A or Exhibit B (either, a “Commencement Date”), and
shall continue until 24 months following the Commencement Date unless (i) such other date as is specified as the termination date for any applicable Service in this Agreement or on Exhibit A or Exhibit B, as applicable (the
“Term”) or (ii) earlier terminated pursuant to this Agreement (a “Termination Date”). 

Section 6.2        Termination of Services.    Except as agreed by the
Parties in writing or as otherwise stated in the Exhibits, the Company may terminate for convenience any Transition Service, and Rank may terminate for convenience any Reverse Transition Service, upon 30 days’ prior written notice of such
termination. Upon termination of any Service pursuant to 

 
this Section 6.2, the Terminating Party’s obligation to pay for such Service will cease except any sums accrued or due as of the date of such early termination for
Services rendered (which shall include a pro rata portion of any fees applicable to the current period in which such Services are being performed if the applicable fee is determined on a period by period basis as set forth on Exhibit A or
Exhibit B, as applicable). The provisions of this Section 6.2 shall apply mutatis mutandis with respect to any assignment of this Agreement subject to Section 10.10(b) and the Parties
will negotiate in good faith regarding fee allocations and, if necessary, early termination or partial termination of any Services. 

Section 6.3        Termination of Agreement. This Agreement shall terminate the earlier of
(i) the date when the Termination Date has occurred for all Services, and (ii) on the date on which the Parties cease to be under common Control. In addition, this Agreement may be terminated by either Party (the “Terminating
Party”) upon written notice to the other Party (which notice, in case of material breach, shall specify the basis for such claim for breach), if: 

(a)    the other Party or its Affiliates materially breaches this Agreement and such breach is not cured,
to the reasonable satisfaction of the Terminating Party, within thirty (30) days of written notice thereof, it being understood that a good-faith dispute over an invoice or Service shall not constitute a material breach of this Agreement; or

 (b)    the other Party files for bankruptcy or similar proceeding, is the subject of an involuntary
filing for bankruptcy or similar proceeding (not dismissed within sixty (60) days), makes a general assignment of all or substantially all of its assets for the benefit of creditors, becomes or is declared insolvent, becomes the subject of any
proceedings (not dismissed within sixty (60) days) related to its liquidation, insolvency, bankruptcy or the appointment of a trustee or a receiver, takes any corporate action for its winding up or dissolution, or a court approves
reorganization proceedings on such Party. 
 Section 6.4        Effect of Termination.
Upon any termination or expiration of this Agreement or any Service provided hereunder, each Party shall, and shall cause its applicable Affiliates to, as soon as practicable, return to the other Party any equipment, books, records, files and other
property, not including current or archived copies of computer files, of the other Party, its applicable Affiliates and their respective third-party service providers that is in the Party’s or its Affiliates’ possession or control (and, in
case of termination of one or more specific Services, only the equipment, books, records, files and other property, not including current or archived copies of computer files, that are used in connection with the provision or receipt solely of such
Services and of no other Services). 
 Section 6.5        Survival. The following
Articles and Sections shall survive the termination or expiration of this Agreement, including the rights and obligations of each Party thereunder: Article I; Article V; this Article VI; Article VII; Article VIII;
Article IX; and Article X. 
 ARTICLE VII 

BOOKS AND RECORDS 

Section 7.1        TSA Books and Records. 

(a)     The Parties shall, and shall cause each of their respective Affiliates to, take reasonable steps
to maintain books and records of all material transactions 

 
pertaining to, and all data used by it, in the performance of the Services (the “TSA Records”). The TSA Records shall be maintained (a) in a format substantially similar to
the format such books and records are maintained as of the date hereof, (b) in accordance with any and all applicable Laws, and (c) in accordance with the maintaining Party’s business record retention policies. 

(b)     Each Party shall make the TSA Records it maintains available to the other Party and its Affiliates
and their respective auditors or other representatives, and in any event to any Governmental Authority, during normal business hours on reasonable prior notice (it being understood that TSA Records that are not stored on a Party’s regular
business premises will require additional time to retrieve), for review, inspection, examination and, at the reviewing Party’s reasonable expense, reproduction. Access to such TSA Records shall be exercised by a Party, its Affiliates and their
authorized representatives in a manner that shall not interfere unreasonably with the normal operations of the Party and any of its Affiliates maintaining the TSA Records. In connection with such review of TSA Records, and upon reasonable prior
notice, the reviewing Party shall have the right to discuss matters relating to the TSA Records with the employees of the Party or its Affiliates who are maintaining the relevant TSA Records and providing the Services, as applicable, during regular
business hours and without undue disruption of the normal operations of such maintaining and providing Party or its Affiliates. Neither Party shall have access to any TSA Records, and neither Party shall be required to provide access or disclose
information, when such access or disclosure would jeopardize any attorney-client privilege or violate any applicable Law (provided that such Party shall use commercially reasonable efforts to provide such access or share such information in a manner
that would not jeopardize any such privilege or violate any such Law). Each Party’s rights under this Section 7.1(b) shall continue for so long as TSA Records are required to be maintained by the other Party under
Section 7.1(a). 
 Section 7.2        Access to Information; Books
and Records. 
 (a)    On and after the Commencement Date, Rank shall, and shall cause its
Affiliates to, until the 7th anniversary of the Commencement Date, afford to the Company and its employees and authorized representatives during normal business hours reasonable access to their books of account, financial and other records
(including accountant’s work papers), information, employees and auditors at the Company’s expense to the extent necessary or useful for the Company in connection with any audit, investigation, or dispute or Litigation (other than any
Litigation involving a dispute between the Parties) or any other reasonable business purpose relating to the Business; provided that any such access by the Company shall not unreasonably interfere with the conduct of the business of Rank and
its Affiliates. 
 (b)    After the Commencement Date, the Company shall, and shall cause its Affiliates
to, until the 7th anniversary of the date on which Rank and its Affiliates own less than 10% of the capital stock in the Company (i) afford to Rank and its Affiliates and their respective employees and authorized representatives reasonable
access to the Company’s employees and auditors, (ii) retain all books, records (including accountant’s work papers), and other information and documents pertaining to the Business, and (iii) afford access to and make available
for inspection and copying by Rank (at Rank’s expense) during normal business hours, in each case so as not to unreasonably interfere with the conduct of the Business by the PEI Group, 

 
their books of account, financial and other records (including accountant’s work papers), and such other information (A) as may be required by any Governmental Authority, including
pursuant to any applicable Law or regulatory request or prepare to file any Tax related documentation, (B) as may be necessary for Rank or its Affiliates in connection with their ongoing financial reporting, accounting or other purpose related
to Rank and its Affiliates’ affiliation with the Company, or (C) as may be necessary for Rank or its Affiliates to perform their respective obligations pursuant to this Agreement or in connection with any Litigation (other than any
Litigation involving a dispute between the Parties), in each case subject to compliance with all applicable privacy Laws. 

(c)    Notwithstanding anything to the contrary in this Section 7.2, the Party
granting access under Section 7.2(a) or Section 7.2(b) may withhold any document (or portions thereof) or information (i) that is subject to the terms of a
non-disclosure agreement with a third party (provided that such party shall use commercially reasonable efforts to share such information in a manner that would not violate any such obligation), (ii) that
may constitute privileged attorney-client communications or attorney work product and the transfer of which, or the provision of access to which, as reasonably determined by such Party’s counsel, constitutes a waiver of any such privilege
(provided that such party shall use commercially reasonable efforts to share such information in a manner that would not jeopardize any such privilege), or (iii) if the provision of access to such document (or portion thereof) or information,
as determined by such Party’s counsel, would reasonably be expected to conflict with applicable Laws. 

Section 7.3        Non-Disclosure Agreements. To
the extent that any third-party proprietor of information or software to be disclosed or made available to a Recipient in connection with performance of the Services requires a specific form of non-disclosure
agreement as a condition of such third party’s consent to use the same for the benefit of the Recipient or to permit the Recipient access to such information or software, each Party shall, or shall cause its relevant Affiliate to, as a
condition to the receipt of such portion of the Services, execute (and shall cause its Personnel to execute, if reasonably required) any such form. 

Section 7.4    Confidential Information. 

(a)    Each Party agrees to take the necessary steps to protect any Confidential Information of the other
Party with at least the same degree of care that the receiving Party uses to protect its own confidential or proprietary information of like kind, but not less than reasonable care. Neither Party shall use the other Party’s Confidential
Information other than to perform Services pursuant to this Agreement or pursuant to Section 7.2 herein. The obligation of confidentiality hereunder shall not apply to information that (i) was already in the possession
of the receiving Party without restriction on its use or disclosure prior to the receipt of the information from the disclosing Party, (ii) is or becomes available to the general public through no act or fault of the receiving Party,
(iii) is rightfully disclosed to the receiving Party by a third party without restriction on its use or disclosure, (iv) is independently developed by employees and/or consultants of the receiving Party who have not had access to the

 
disclosing Party’s Confidential Information, (v) is disclosed to the receiving Party after the receiving Party properly gave notice to the disclosing Party that the receiving Party no
longer desired to receive any additional Confidential Information from the disclosing Party, or (vi) is required to be disclosed pursuant to judicial or governmental decree or order, provided that the disclosing Party is, where permitted, given
prompt written notice of and the opportunity to defend against disclosure pursuant to such decree or order. 

(b)    Upon any termination or expiration of this Agreement, at the written request of the other Party,
each Party shall, and shall cause any of its Affiliates or third-party vendors used in connection with the provision or receipt of the Services to, deliver to the other Party (i) all records and data (including backup tapes, records and related
information) received, computed, developed, processed and stored by it hereunder in a readable format reasonably acceptable to the other Party, and (ii) all other Confidential Information of such other Party, but excluding, in each case,
(1) any information stored electronically in a back-up file pursuant to the receiving Party’s customary electronic back-up practices which may be retained by
such Party solely for archival purposes and subject to the continuing confidentiality obligations set forth herein, and (2) any information obtained pursuant to Section 7.2 herein; provided that, in lieu of
delivering all of the foregoing to the other Party, the relevant delivering Party may confirm in writing that it has destroyed, or has caused Rank or the Company, as the case may be, to destroy, all of the foregoing. 

ARTICLE VIII 
 INTELLECTUAL
PROPERTY 
 Section 8.1        Ownership of Intellectual Property. Any intellectual
property owned by a Party, its Affiliates or third-party vendors and used in connection with the provision or receipt of the Services, as applicable, shall remain the property of such Party, its Affiliates, or third-party vendors. 

ARTICLE IX 
 REMEDIES 

Section 9.1        Indemnification. Subject to the limitations set forth in this
Article IX, each Party (the “Indemnifying Party”) agrees to indemnify, defend and hold harmless the other Party and its Affiliates and its and their respective directors, officers, employees, agents, representatives,
successors and permitted assigns (collectively, the “Indemnified Parties”) from and against all Losses imposed upon or incurred by an Indemnified Party to the extent arising out of or resulting from the Indemnifying Party’s or
its Affiliates’ material breach of this Agreement, except to the extent that such Losses are primarily caused by the Indemnified Party. 

Section 9.2        Exclusive Remedy. The indemnities provided for in
Section 9.1 shall be the sole and exclusive monetary remedy of the Parties hereto and their Affiliates and their respective officers, directors, employees, agents, representatives, successors and permitted assigns for any
breach of or inaccuracy in any representation or warranty, or any breach, nonfulfillment or default in the performance of any of the covenants or agreements contained in this Agreement, and the Parties shall not be entitled to a rescission of this
Agreement or to any further indemnification rights or claims of any nature whatsoever in respect thereof (including any common law rights of contribution), all of which the Parties hereto hereby waive. 

Section 9.3        Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT,
(A) NO PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE MATERIALS AND 

 
SERVICES, AS APPLICABLE, PROVIDED HEREUNDER, AND ALL SUCH MATERIALS AND SERVICES, AS APPLICABLE, ARE PROVIDED ON AN “AS IS” BASIS AND (B) EACH PARTY DISCLAIMS ANY AND ALL
WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE. 

Section 9.4        Limitations. 

(a)    IN NO EVENT SHALL ANY PARTY BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT, SPECIAL, EXEMPLARY,
PUNITIVE OR CONSEQUENTIAL DAMAGES, OR LOST PROFITS OR LOST REVENUES THAT THE OTHER PARTY MAY INCUR BY REASON OF ITS HAVING ENTERED INTO OR RELIED UPON THIS AGREEMENT, OR IN CONNECTION WITH ANY OF THE SERVICES PROVIDED HEREUNDER OR THE FAILURE
THEREOF, REGARDLESS OF THE FORM OF ACTION IN WHICH SUCH DAMAGES ARE ASSERTED, WHETHER IN CONTRACT OR TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF THE SAME OTHER THAN TO THE EXTENT AWARDED IN A THIRD PARTY CLAIM.

 (b)    EXCEPT WITH RESPECT TO A MATERIAL BREACH CONSTITUTING WILLFUL MISCONDUCT BY A PROVIDER, REPEAT
PERFORMANCE OF A SERVICE BY THE PROVIDER OR REFUND OF THE FEES PAID FOR A SERVICE SHALL BE THE SOLE AND EXCLUSIVE REMEDY FOR BREACH OF THE SERVICES STANDARD FOR SUCH SERVICE. 

(c)    IN NO EVENT SHALL A PARTY’S LIABILITY IN RELATION TO SERVICES PROVIDED UNDER THIS AGREEMENT
EXCEED THE FEES PAID TO IT UNDER THIS AGREEMENT FOR THE SPECIFIC SERVICE THAT RESULTED IN THE LOSS. 

Section 9.5        Insurance. Each Party shall obtain and maintain, for the Term
(i) commercial general liability insurance with a single combined liability limit of at least $5,000,000 per occurrence, (ii) workers compensation/employer’s liability insurance with a liability limit of at least $1,000,000 per
occurrence or, if greater, the statutory minimum, and (iii) “all risk” property insurance on a replacement cost basis adequate to cover all assets and business interruption Losses that a Party may suffer in connection with or arising out
of this Agreement, subject to policy limits and, in the case of the policies described in clause (i) above, naming the other Party as an additional insured thereunder. Upon request, each Party shall provide the other Party a certificate of
insurance as proof of insurance coverage. 
 ARTICLE X 

MISCELLANEOUS 

Section 10.1        Force Majeure. In the event that a Party is wholly or partially
prevented from, or delayed in, providing one or more Services, or one or more Services are interrupted or suspended, by reason of events beyond its reasonable control, which by their nature were not foreseen, or, if it was foreseen, was not
reasonably avoidable, including acts of God, act of Governmental Authority, act of the public enemy or due to fire, explosion, accident, floods, embargoes, epidemics, pandemics, war, acts of terrorism, nuclear disaster, civil unrest or riots, civil
commotion, insurrection, severe or adverse weather conditions, lack of or shortage of 

 
adequate electrical power, malfunctions of equipment or software (each, a “Force Majeure Event”), such Party shall promptly give notice of any such Force Majeure Event to the
other Party and shall indicate in such notice the effect of such event on its ability to perform hereunder and the anticipated duration of such event. The Party whose performance is affected by the Force Majeure Event shall not be obligated to
deliver or cause to be delivered the affected Services during such period, and the applicable Party shall not be obligated to pay during such period for any affected Services not delivered. For the duration of a Force Majeure Event, the Party whose
performance is affected by the Force Majeure Event shall, and shall cause its relevant Affiliates to, minimize to the extent practicable the effect of the Force Majeure Event on its obligations hereunder and use commercially reasonable efforts to
avoid or remove such Force Majeure Event and to resume delivery of the affected Services with the least delay practicable. 

Section 10.2        Authority. A Provider shall not be permitted to bind a Recipient or
any of its Affiliates or enter into any agreements (oral or written), contracts, leases, licenses or other documents (including the signing of checks, notes, bills of exchange or any other document, or accessing any funds from any bank accounts of a
Recipient or any of its Affiliates) on behalf of a Recipient or any of its Affiliates except with the express prior written consent of the Recipient, which consent may be given from time to time as the need arises and for such limited purposes as
expressed therein. 
 Section 10.3        Specific Performance. The Parties shall be
entitled to seek an injunction to prevent actual or threatened breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled at law or in
equity. For the avoidance of doubt, nothing contained herein shall prevent a Party from seeking damages (to the extent permitted herein) in the event that specific performance is not available. 

Section 10.4        Status of Parties. This Agreement is not intended to create, nor will
it be deemed or construed to create, any relationship between the Rank Group, on the one hand, and the PEI Group, on the other hand, other than that of independent entities contracting with each other solely for the purpose of effecting the
provisions of this Agreement. Neither the Rank Group, on the one hand, nor the PEI Group, on the other hand, shall be construed to be the agent of the other. 

Section 10.5        Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given by delivery in person, via email (followed by overnight courier), or by registered or certified mail (postage prepaid, return receipt requested) to the other Party hereto as follows:

 if to the Company, 
  

			
	 Pactiv Evergreen Inc.
	  	
	 1900 W. Field Court
	  	
	 Lake Forest, IL 60045
	  	
	
Attention:            Steven Karl, General
Counsel

	
Email:                  
Skarl@pactiv.com

 if to Rank, 
  

			
	 Rank Group Limited
	  	
	 Level Nine 148 Quay Street
	  	
	 P.O. Box 3515
	  	
	 Auckland, New Zealand
	  	
	
Attention:            Helen Golding

	
Email:                  
Helen.Golding@rankgroup.co.nz

 or such other address or email as such Party may hereafter specify for the purpose by notice to the other
Party hereto. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt. Otherwise, any such notice, request
or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt. Notwithstanding the foregoing, normal business communications with respect to the Services may be given by the Parties by whatever
means are usual and appropriate for such types of communications. 
 Section 10.6    Entire Agreement. This
Agreement, including all Exhibits, constitute the sole and entire agreement and supersede all prior agreements, understandings and representations, both written and oral, between the Parties with respect to the subject matter hereof. 

Section 10.7    Waivers and Amendments; Non-Contractual Remedies;
Preservation of Remedies. No amendment, modification or discharge of this Agreement, and no waiver hereunder, shall be valid or binding unless set forth in writing and duly executed by the Party against whom enforcement of the amendment,
modification, discharge or waiver is sought. Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the rights of the Party granting such waiver in any other respect or
at any other time. Neither the waiver by any of the Parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure by any of the Parties, on one or more occasions, to enforce any of the provisions of this
Agreement or to exercise any right or privilege hereunder, shall be construed as a waiver of any other breach or default of a similar nature, or as a waiver of any of such provisions, rights or privileges hereunder. The rights and remedies herein
provided are cumulative and none is exclusive of any other, or of any rights or remedies that any Party may otherwise have at law or in equity. 

Section 10.8    Governing Law, etc. 

(a)    This Agreement shall be governed in all respects, including as to validity, interpretation and
effect, by the Laws of the State of Illinois, without giving effect to its principles or rules of conflict of laws, to the extent such principles or rules are not mandatorily applicable by statute and would permit or require the application of the
Laws of another jurisdiction. Each of the Parties hereto submits to the jurisdiction of any state or federal court sitting in Lake County, Illinois, in any action or proceeding arising out of or relating to this Agreement, agrees to bring all claims
under any theory of liability in respect of such action or proceeding exclusively in any such court and agrees not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties hereto waives
any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that might be required of any other party with respect thereto. Each Party hereto agrees that service of
summons and complaint 

 
or any other process that might be served in any action or proceeding may be made on such Party by sending or delivering a copy of the process to the Party to be served at the address of the
Party and in the manner provided for the giving of notices in Section 10.5. Nothing in this Section 10.8, however, shall affect the right of any Party to serve legal process in any other manner
permitted by Law. Each Party hereto agrees that a final, non-appealable judgment in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment or in any other manner
provided by Law. 
 (b)    The Parties each hereby waive, to the fullest extent permitted by Law, any
right to trial by jury of any claim, demand, action, or cause of action (i) arising under this Agreement or (ii) in any way connected with or related or incidental to the dealings of the Parties hereto in respect of this Agreement or any
of the transactions related hereto, in each case whether now existing or hereafter arising, and whether in contract, tort, equity, or otherwise. The Parties to this Agreement each hereby agree and consent that any such claim, demand, action, or
cause of action shall be decided by court trial without a jury and that the parties to this Agreement may file an original counterpart of a copy of this Agreement with any court as written evidence of the consent of the Parties hereto to the waiver
of their right to trial by jury. 
 Section 10.9    Further Assurances. Each Party covenants and agrees
that, without any additional consideration, it shall execute and deliver, or shall cause its Affiliates to execute and deliver, such documents and other papers and shall take, or shall cause its Affiliates to take, such further actions as may be
reasonably required to carry out the provisions of this Agreement and give effect to the transactions contemplated by this Agreement. 

Section 10.10    Assignment. No Party may assign this Agreement, or any of its rights or obligations under
this Agreement (whether by operation of Law or otherwise), without the prior written consent of the other Party (not to be unreasonably withheld or delayed); provided, that notwithstanding the foregoing, any Party may assign any or all of its
rights or obligations under this Agreement without requiring the consent of the other Party if the Agreement is assigned to: (a) its Affiliates, (b) a purchaser of: (i) one or more of its Affiliates that is a Provider or Recipient
under this Agreement; (ii) all or substantially all of the business or assets of one or more of its Affiliates that is a Provider or Recipient under this Agreement; or (iii) all or substantially all of such Party’s business or assets,
or (c) its financing sources solely for collateral purposes, in each case so long as the assignee agrees to be bound by the terms of this Agreement. Any permitted assignment shall be binding upon and inure to the benefit of the Parties and
their respective heirs, successors and permitted assigns. Any attempted assignment of this Agreement, or the rights or obligations herein, not in accordance with the terms of this Section 10.10 shall be void. 

Section 10.11    Severability. If any term or other provision of this Agreement is determined by a court of
competent jurisdiction to be invalid, illegal or unenforceable, all other provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any
manner materially adverse to any Party. Upon any such determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 

 Section 10.12    Interpretation. 

(a)    The Parties acknowledge and agree that, except as specifically provided herein, they may pursue
judicial remedies at law or equity in the event of a dispute with respect to the interpretation or construction of this Agreement. 

(b)    This Agreement shall be interpreted and enforced in accordance with the provisions hereof without
the aid of any canon, custom or rule of law requiring or suggesting constitution against the Party causing the drafting of the provision in question. 

Section 10.13    No Third-Party Beneficiaries. Other than the rights granted to the Indemnified Parties under
Section 9.1, nothing in this Agreement is intended or shall be construed to give any person, other than the Parties hereto, their successors and permitted novates, transferees and assigns, any legal or equitable right,
remedy or claim under or in respect of this Agreement or any provision contained herein. 

Section 10.14    Counterparts. This Agreement may be executed in several counterparts, each of which shall be
deemed an original and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement via email shall be effective as delivery of a manually executed counterpart to this
Agreement. 
 Section 10.15    Headings. The headings in this Agreement are for reference only and shall not
affect the interpretation of this Agreement. 
 Section 10.16    Order of Precedence. In the event of any
conflict between the provisions of any Exhibit and the other provisions of this Agreement, the other provisions of this Agreement shall govern, except to the extent that the relevant provision of the Exhibit expressly identifies the provision of
this Agreement it supersedes and expressly indicates that such provision is being superseded or this Agreement expressly indicates that the Exhibit governs. 

[Signature page follows] 

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

	
	Rank Group Limited
	
	By: /s/ Helen Golding                            
	Name: Helen Golding
	Title: Director
	
	Pactiv Evergreen Inc.
	
	By: /s/ John McGrath                            
	Name: John McGrath
	Title: Director

 EXHIBIT A 

Transition Services 
 Section
A: Financial, Tax and IT Services 
  

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	A.1	  	Financial Services – Reporting and Consultancy Services	  	 Provision of assistance to prepare and review interim and/or annual PEI filings associated with financial reporting obligations, including
but not limited to:
  

•  consultation / evaluation / documentation of specific accounting matters;

 
 •  consultation / evaluation /
assistance in the preparation of any component of the interim or annual filing;
  

•  consultation / preparation / review of documentation accompanying interim or annual financial
statements, including but not limited to management discussion and analysis, covenant computations, CFO accounting paper, earnings call slides;
  

•  consultation / assistance in relation to documentation or testing of internal controls over
financial reporting, including the overall project to ensure that PEI is SOX 404 ready; and
  

•  consultation / assistance to respond to matters raised by external auditors.
	  	12 months from the Commencement Date	  	 Direct reports to Rank’s CFO:

$400 per person / per hour
  

Indirect reports to Rank’s CFO:

$200 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	A.2	  	Financial Services – Insurance Administration Handover Services	  	 Reasonable provision of insurance administration handover services, including:

 
 •  assistance with the
completion of policy applications and the gathering of underwriting data for policy renewals in the years 2021 and 2022;
  

•  assistance with policy placement for the 2021 and 2022 policy years as part of the Rank global
program;
  
 •  assistance with
the appointment of brokerage services;
  

•  assistance with transitioning the management of third party risk consulting vendors;

 
 •  assistance with transitioning
insurance management and placements; and
  

•  assistance with claims management, if required.
	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

		  		  	Any costs for engaging external resources, including Aon services (which are separately charged in their annual fee), will be passed through to PEI.	  		  	
					
	A.3	  	Financial Services – SOX Compliance	  	In connection with PEI’s obligation to comply with the Sarbanes-Oxley Act of 2002, provision of reasonable support and performance of key controls related to financial reporting as agreed between
the Parties.	  	12 months from the Commencement Date	  	 $200 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	A.4	  	Banking and Financing related Services	  	Provision of advice in connection with financing transactions involving PEI or the PEI Group including strategic, legal, financial and other support services required to assist with the implementation of or compliance with any such
financing transaction.	  	12 months from the Commencement Date	  	 Direct reports to Rank’s CFO or Group Legal Counsel: $400 per person / per hour

 
 Others: $200 per person / per hour

 
 Plus pass-through of actual third-party costs

					
	A.5	  	Tax Services –Consulting Services	  	 Provision of:
  

•  tax handover services, including information relating to PEI’s historical tax profile, ad-hoc planning and cash repatriation,
  

•  training of PEI staff,
  

•  documentation for all relevant processes, and

 
 •  general tax consulting
processes.
	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	A.6	  	IT Handover Services	  	Provision of IT governance handover services	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section B: HR Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	B.1	  	 General HR –
 Administrative
Services
	  	Provision of general administrative transition support to share information and answer questions regarding current practices.	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	B.2	  	 General HR –
 Relationship Support
Services
	  	Provision of relationship support services to the PEI payroll and benefits personnel relating to PEI’s establishment of separate instances of ADP and Empyrean, and separation of key vendor relationships including ADP, Empyrean,
Lockton, and others as required.	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	B.3	  	General HR – Compensation Management Support Services	  	 Provision of assistance:
  

•  to review salary ranges (U.S. and international) for standard Reynolds Group grades

 
 •  with merit review budget
planning
  
 •  in relation to
executive compensation matters, as required.
	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section C: M&A Transaction, Executive and Legal Support Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	C.1	  	M&A Transaction Support Services	  	Provision of M&A transaction-related support services including by members of the Rank M&A and/or Legal teams, with respect to acquisitions by, and disposals of certain entities and/or businesses within, the PEI Group.	  	24 months from the Commencement Date	  	 Direct reports to Rank’s Head of M&A, CFO or Group Legal Counsel:

$400 per person / per hour

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

		  		  		  		  	 All others: $200 per person / per hour

 
 Plus pass-through of actual third-party costs incurred in
providing the service

					
	C.2	  	Executive Services – CSI Business	  	Provision of executive services to the Closure Systems International business (“CSI Business”) by a member of Rank’s executive team with respect to the management supervision and handover of operations and
management of the CSI Business.	  	3 months from the Commencement Date	  	Nil
					
	C.3	  	Legal Support Services	  	Provision of legal and related support services with respect to (i) all legal matters (if any) being handled by Rank and its Affiliates prior to the Commencement Date, and (ii) ongoing advice
and assistance to the General Counsel in relation to the Company’s compliance obligations, including but not limited to corporate governance, SEC and applicable listing rule obligations and the Company’s financing arrangements.	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section D: Corporate Secretarial Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	D.1	  	General Services – Corporate Secretarial	  	 Provision of corporate secretarial duties and government filing assistance.

 
 Prior to the end of the Corporate Secretarial Service Term, PEI will have the option to
acquire a separate version of Diligent Entities for the Company’s entities at PEI’s cost.
  

In the event PEI decides to acquire its own version of Diligent Entities, once the Company’s entity information has been copied by Diligent Entities to a
new separate PEI version of Diligent Entities, the relevant Company entity information contained in PEI’s new version of Diligent Entities must be reviewed and sanitized by the corporate secretarial team at PEI’s cost.
	  	12 months from the Commencement Date	  	 $190 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	D.2	  	Corporate Secretarial Services – Entity Migrations	  	Provision of corporate secretarial services associated with the intended migration of certain New Zealand shareholder entities to Delaware, including the required filing and registration of
migration-related documents, and the updating of corporate records.	  	12 months from the Commencement Date	  	 $190 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section E: Treasury Services 
  

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	E.1	  	General Services – Treasury	  	Provision of general treasury services and support.	  	12 months from the Commencement Date	  	 $400 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 EXHIBIT B 

Reverse Transition Services 

Section R-A: Legal Support Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-A.1	  	Legal and Administrative Support Services	  	At the request of members of Rank’s executive team, provision of legal and administrative related support services by members of PEI’s legal and administrative team with respect to legal
matters relating to Rank and its affiliates from time to time.	  	12 months from the Commencement Date	  	 The Senior member of PEI’s corporate transition Legal Team

$800 per person/ per hour
  

Other members of PEI’s corporate transition Legal Team:$200 per person / per
hour

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

		  		  		  		  	 Administrative Support:

$50 per person/ per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section R-B: HR Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-B.1	  	Health and Welfare Benefits Services	  	 PEI to maintain or replicate, adopt, and become the plan sponsor for the same plans currently maintained for the benefit of Rank Group North
America Inc. employees, with current vendors. Examples may include some or all of the following, as applicable:
  

•  Pharmacy – Express Scripts

 
 •  EAP (US) – CompPsych

 
 •  H&W Administration –
Empyrean
  
 •  Lockton Benefits
Consulting
  
 •  Cigna

 
 •  BCBS IL

 
 •  IPhA

 
 •  Livongo

 
 •  MD Live

 
 •  Voya

 
 •  VSP

 
 •  Delta Dental

 
 PEI will support vendor changes by providing employee data as needed, attending
meetings, and transition vendor relationships to Rank’s benefit resources. Rank will be responsible for transition communication, transition projects and data feeds required in order to provide the health and welfare benefits services.
	  	Until 31 December, 2020	  	 $125 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

		  		  	 Transition: PEI will assist Rank by providing current plan and election information for Rank’s negotiation and implementation of
new contracts with benefits providers to enable Rank to create a benefits regime post termination of the current benefits arrangements. Rank will be responsible for implementation of new processes at existing vendors and any new vendor
relationships.
  
 Tax Filings:

Health and Welfare: PEI (or its applicable vendor) will prepare and file government and other tax filings associated with the health and welfare benefits
beginning with plan year 2020; provided that the preparation of 2020 tax filings shall be at Rank’s expense.
  

Carrier Remittance: PEI will facilitate transition of vendor invoices of claims, administration fees and premiums for insured benefit coverages to
Rank.
  
 General Plan and Vendor Administration. PEI will continue to provide
general plan and vendor administration services for the health and welfare benefits plans listed above and COBRA administration.
  

Other plan year filings (1095 reporting, P-CORI tax filings, etc): PEI will be responsible for filings beginning
with the 2020 plan year. Rank will assist PEI in creating a calendar for such reports and in obtaining the appropriate forms.
  

Rank shall be responsible for invoices, funding and any other financial transactions with the vendors. PEI will provide training and support to the key
stakeholders on how the processes are handled currently.
	  		  	
					
	R-B.2	  	Retirement Plan Services	  	PEI will allow eligible Rank Group North America Inc. employees to participate in the Reynolds Services Inc. Non-qualified Deferred Compensation Plan until such
time as the extent of common shareholding of the two companies no longer permits this to occur, whereupon PEI will support vendor changes by providing employee data as needed, attending meetings, and transition vendor relationships to any
replacement plan. Rank will at that time be responsible for transition communication, transition projects and data feeds required in order to provide the retirement plan services.	  	Until 31 December, 2021	  	 $125 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

		  		  	PEI will provide administrative support as required to support Rank employee participation in the Reynolds Services Inc. Nonqualified Deferred Compensation Plan during the applicable period.	  		  	
					
	R-B.3	  	HR Subject Matter Experts	  	 Provision of HR Ancillary Services by RGHI Director (Benefits) or HR/Benefits Analyst which fall outside the scope of Health and Welfare
Benefits Services outlined above at R-B.1.
  

PEI will assist with those transitions and agreement transitions and provide support for meetings to share information and answer any questions with current or
potential vendors regarding current processes. Transition of responsibility to Rank for each vendor.
	  	Until 31 December, 2020	  	 $125 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

					
	R-B.4	  	Ancillary HR Services	  	Provision of ADP application and administration support services.	  	Until December 31, 2020	  	 $100 per person / per hour
  

Plus pass-through of actual third-party costs incurred in providing the service

 Section R-C: IT Services 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-C.1	  	Email filtering	  	Scanning and filtering of emails via the Proof-Point process.	  	12 months from the Commencement Date	  	 $1000 per month
  

Plus pass-through of actual third-party costs incurred in providing the service

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-C.2	  	Desktop Image Management	  	Desktop SOE : development and maintenance services.	  	12 months from the Commencement Date	  	$150 per person / per hour
					
	R-C.3	  	Desktop Patching	  	Routine security patching of SOE/Desktop images.	  	12 months from the Commencement Date	  	$500 per month
					
	R-C.4	  	Phone Support	  	Provision of 2nd level support services for Cisco IP phone systems at the Rank offices in Auckland, New Zealand and Sydney, Australia.	  	12 months from the Commencement Date	  	$150 per person / per hour
					
	R-C.5	  	WAN administration	  	AT&T network circuit administration (circuits to A/NZ from LDC).	  	12 months from the Commencement Date	  	 $150 per person / per hour
  

Plus pass through of actual third party costs incurred in providing the service.

					
	R-C.6	  	MS Tenant administration	  	 Management of the Microsoft tenant in use by Rank (rankgroup.co.nz) and integration to the PEI tenant(s), including :

 
 •  Sharepoint Access

 
 •  Collaboration tools

 
 •  Identity &
Presence
  
 •  Hosting and
administration of the Rank Domain Controller (in Lincolnshire Data Centre
	  	12 months from the Commencement Date	  	$1000 per month
					
	R-C.7	  	IT Migration Services	  	Project services to manage and execute the extraction of IT operations from the PEI managed environment(s) and enable Rank to terminate the IT related services in this Section R-C.	  	12 months from the Commencement Date	  	$150 per person / per hour

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-C.8	  	IT Consulting Services	  	 Provision of advice, guidance and recommendations on new services or technical solutions related to applications and infrastructure, etc.

 
 Provision of this Service is subject to availability of internal resource within PEI
and agreement between the Parties.
	  	12 months from the Commencement Date	  	$200 per person / per hour

 Section R-D: Office Space 

 

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	R-D.1	  	Lake Forest Office Space	  	 Provision of office space to all Rank Group North America employees at 1900 W. Field Court, Lake Forest IL 60045, United States (the
“Lake Forest Office”).
  
 For the avoidance of doubt each Rank
Group North America employee will be entitled to continue to occupy their respective existing personal offices at the Lake Forest Office as at the Commencement Date for the duration of the Term.
	  	24 months from the Commencement Date	  	Nil

 EXHIBIT C 

Service Coordinators 
 To be
designated in writing from time to time by each Party.EX-10.7

 Exhibit 10.7 

PACTIV EVERGREEN INC. 

EQUITY INCENTIVE PLAN 

Section 1. Purpose. The purpose of the Pactiv Evergreen Inc. Equity Incentive Plan (as amended from time to time, the
“Plan”) is to motivate and reward those employees, directors, consultants and advisors of Evergreen Pactiv Group Inc. (the “Company”) and its Affiliates to perform at the highest level and to further the best
interests of the Company and its shareholders. Capitalized terms not otherwise defined herein are defined in Section 22. 

Section 2. Eligibility. 

(a) Any Employee, Director, Consultant or other advisor of the Company or any of its Affiliates shall be eligible to be selected to receive an
Award under the Plan, to the extent that an offer or receipt of an Award is permitted by applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. 

(b) Holders of equity compensation awards granted by a company acquired by the Company (or whose business is acquired by the Company) or with
which the Company combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise) are eligible for grants of Replacement Awards under the Plan to the extent permitted by applicable law, stock market or
exchange rules and regulations or accounting or tax rules and regulations. 
 Section 3. Administration. 

(a) The Plan shall be administered by the Committee. The Board may designate one or more directors of the Company as a subcommittee who may
act for the Committee if necessary to satisfy the requirements of this Section. The Committee may issue rules and regulations for administration of the Plan. 

(b) To the extent permitted by applicable law, the Committee may delegate to one or more officers of the Company some or all of its authority
under the Plan, including the authority to grant Options and SARs or other Awards in the form of Share rights (except that such delegation shall not apply to any Award for a Person then covered by Section 16 of the Exchange Act), and the
Committee may delegate to one or more committees of the Board (which may consist of solely one Director) some or all of its authority under the Plan, including the authority to grant all types of Awards, in accordance with applicable law. 

 (c) Subject to the terms of the Plan and applicable law, the Committee (or its delegate)
shall have full discretion and authority to: (i) designate Participants; (ii) determine the type or types of Awards (including Replacement Awards) to be granted to each Participant under the Plan; (iii) determine the number of Shares
to be covered by (or with respect to which payments, rights or other matters are to be calculated in connection with) Awards; (iv) determine the terms and conditions of any Award and prescribe the form of each Award Document, which need not be
identical for each Participant; (v) determine whether, to what extent, under what circumstances and by which methods Awards may be settled or exercised in cash, Shares, other Awards, other property, net settlement (including broker-assisted
cashless exercise), or any combination thereof, or canceled, forfeited or suspended; (vi) determine whether, to what extent and under what circumstances cash, Shares, other Awards, other property and other amounts payable with respect to an
Award under the Plan shall be deferred either automatically or at the election of the holder thereof or of the Committee; (vii) amend terms or conditions of any outstanding Awards; (viii) correct any defect, supply any omission and
reconcile any inconsistency in the Plan or any Award, in the manner and to the extent it shall deem desirable to carry the Plan into effect; (ix) interpret and administer the Plan and any instrument or agreement relating to, or Award made
under, the Plan; (x) establish, amend, suspend or waive such rules and regulations and appoint such agents, trustees, brokers, depositories and advisors and determine such terms of their engagement as it shall deem appropriate for the proper
administration of the Plan and due compliance with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations; and (xi) make any other determination and take any other action that the Committee
deems necessary or desirable for the administration of the Plan and due compliance with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. Notwithstanding anything to the contrary contained
herein, the Board may, in its sole discretion, at any time and from time to time, grant Awards or administer the Plan. In any such case, the Board shall have all of the authority and responsibility granted to the Committee herein. 

(d) All decisions of the Committee shall be final, conclusive and binding upon all parties, including the Company, its shareholders and
Participants and any Beneficiaries thereof. 
 Section 4. Shares Available for Awards. 

(a) Subject to adjustment as provided in Section 4(c), the maximum number of Shares available for issuance under the Plan shall not
exceed 9,079,395 Shares; provided that, starting on January 1, 2021, on January 1 of each year, the total number of Shares available for issuance under the Plan may be increased by an amount equal to the lesser of (i) 1% of the
Company’s issued and outstanding Shares on December 31 of the immediately preceding year or (ii) such other number of Shares as determined by the Board in its discretion. Shares underlying Replacement Awards and Shares remaining
available for grant under a 

  
 2 

 
plan of an acquired company or of a company with which the Company combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise), appropriately
adjusted to reflect the acquisition or combination transaction, shall not reduce the number of Shares remaining available for grant hereunder. 

(b) Any Shares subject to an Award that expires, is canceled, forfeited or otherwise terminates without the delivery of such Shares, including
any Shares subject to such Award to the extent that such Award is settled without the issuance of Shares, shall again be, or shall become, available for issuance under the Plan. Any Shares surrendered or withheld in payment of any grant, acquisition
or exercise price of such Award or taxes related to such Award shall become available for issuance under the Plan. 
 (c) In the event that,
as a result of any dividend (other than ordinary cash dividends) or other distribution (whether in the form of cash, Shares or other securities), recapitalization, share split (share subdivision), reverse share split (share consolidation),
reorganization, merger, amalgamation, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of
warrants or other rights to acquire Shares or other securities of the Company, issuance of Shares pursuant to the anti-dilution provisions of securities of the Company, or other similar corporate transaction or event affecting the Shares, or of
changes in applicable laws, regulations or accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall,
subject to Section 19, adjust equitably any or all of: 
 (i) the number and type of Shares (or other securities) which
thereafter may be made the subject of Awards; 
 (ii) the number and type of Shares (or other securities) subject to
outstanding Awards; 
 (iii) the grant, acquisition or exercise price with respect to any Award or, if deemed appropriate,
make provision for a cash payment to the holder of an outstanding Award; and 
 (iv) the terms and conditions of any
outstanding Awards, including the performance criteria of any Performance Awards; 
 provided, however, that the number of Shares subject to any
Award denominated in Shares shall always be a whole number. 
 (d) Any Shares delivered pursuant to an Award may consist, in whole or in
part, of authorized and unissued Shares or Shares acquired by the Company and held as treasury shares. Any Shares delivered pursuant to an Award shall be issued as fully paid shares, and the exercise price and/or subscription

  
 3 

 
price per Share pursuant to any Award, if applicable, shall always be at least equal to or greater than the par value per Share. A Participant shall not have any rights as a shareholder of the
Company (including as to voting and dividends) until Shares are actually settled and delivered to the Participant and upon entry into the register of members of the Company. 

(e) No Participant who is a non-employee Director may receive Awards under the Plan in cash or
otherwise for any calendar year that relate to more than $750,000 in the aggregate. 
 Section 5. Restricted Stock. The
Committee is authorized to grant Awards of Restricted Stock to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee
shall determine: 
 (a) The Award Document shall specify the vesting schedule. 

(b) Awards of Restricted Stock shall be subject to such restrictions as the Committee may impose, which restrictions may lapse separately or
in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate. 
 (c) Subject to the
restrictions set forth in the applicable Award Document, a Participant generally shall have the rights and privileges of a stockholder with respect to Awards of Restricted Stock, including the right to vote such Shares and the right to receive
dividends. 
 (d) The Committee may, in its discretion, specify in the applicable Award Document that any or all dividends or other
distributions paid on Awards of Restricted Stock prior to vesting be paid either in cash or in additional Shares and either on a current or deferred basis and that such dividends or other distributions may be reinvested in additional Shares, which
may be subject to the same restrictions as the underlying Awards. 
 (e) Any Award of Restricted Stock may be evidenced in such manner as
the Committee may deem appropriate, including book-entry registration. 
 (f) The Committee may provide in an Award Document that an Award
of Restricted Stock is conditioned upon the Participant making or refraining from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an election pursuant to Section 83(b) of the Code with
respect to an Award of Restricted Stock, the Participant shall be required to file promptly a copy of such election with the Company and the applicable Internal Revenue Service office. 

  
 4 

 Section 6. RSUs. The Committee is authorized to grant Awards of RSUs to
Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) The Award Document shall specify the vesting schedule and the delivery schedule (which may include deferred delivery later than the vesting
date). 
 (b) Awards of RSUs shall be subject to such restrictions as the Committee may impose, which restrictions may lapse separately or
in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate. 
 (c) An RSU shall not
convey to the Participant the rights and privileges of a stockholder with respect to the Share subject to the RSU, such as the right to vote or the right to receive dividends, unless and until a Share is issued to the Participant to settle the RSU.

 (d) The Committee may, in its discretion, specify in the applicable Award Document that any or all dividend equivalents or other
distributions paid on Awards of RSUs prior to vesting or settlement, as applicable, be paid either in cash or in additional Shares and either on a current or deferred basis and that such dividend equivalents or other distributions may be reinvested
in additional Shares, which may be subject to the same restrictions as the underlying Awards. 
 (e) Shares delivered upon the vesting and
settlement of an RSU Award may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration. 
 (f)
The Committee may determine the form or forms (including cash, Shares, other Awards, other property or any combination thereof) in which payment of the amount owing upon settlement of any RSU Award may be made. 

Section 7. Options. The Committee is authorized to grant Options to Participants with the following terms and conditions and with
such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) The exercise price per Share under an Option shall be determined by the Committee; provided, however, that, except in the
case of Replacement Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such Option. 

(b) The term of each Option shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such Option. 

  
 5 

 (c) The Committee shall determine the time or times at which an Option may be exercised in
whole or in part. 
 (d) The Committee shall determine the methods by which, and the forms in which payment of the exercise price with
respect thereto may be made or deemed to have been made, including cash, Shares, other Awards, other property, net settlement (including broker-assisted cashless exercise) or any combination thereof, having a Fair Market Value on the exercise date
equal to the relevant exercise price. 
 (e) To the extent an Option is not previously exercised as to all of the Shares subject thereto,
and, if the Fair Market Value of one Share is greater than the exercise price then in effect, then the Option shall be deemed automatically exercised immediately before its expiration. 

(f) No Option will be eligible for the payment of dividends or dividend equivalents, to the extent such Option is subject to Section 409A
and 457A of the Code. 
 Section 8. Share Appreciation Rights. The Committee is authorized to grant SARs to Participants with
the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) SARs may be granted under the Plan to Participants either alone or in tandem with other Awards granted under the Plan. 

(b) The exercise price per Share under a SAR shall be determined by the Committee; provided, however, that, except in the case of
Replacement Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such SAR (or if granted in connection with an Option, on the date of grant of such Option). 

(c) The term of each SAR shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such SAR. 

(d) The Committee shall determine the time or times at which a SAR may be exercised or settled in whole or in part. 

(e) To the extent a SAR is not previously exercised as to all of the Shares subject thereto, and, if the Fair Market Value of one Share is
greater than the exercise price then in effect, then the SAR shall be deemed automatically exercised immediately before its expiration. 

(f) Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of Shares subject to the SAR multiplied
by the excess, if any, of the Fair Market Value of one Share on the exercise date over the exercise price of such SAR. The Company shall pay such excess in cash, in Shares valued at Fair Market Value, or any combination thereof, as determined by the
Committee. 

  
 6 

 (g) No SAR will be eligible for the payment of dividends or dividend equivalents, to the
extent such SAR is subject to Section 409A and 457A of the Code. 
 Section 9. Performance Awards. The Committee is
authorized to grant Performance Awards to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) Performance Awards may be denominated as a cash amount, a number of Shares or a combination thereof and are Awards which may be earned upon
achievement or satisfaction of performance conditions specified by the Committee. In addition, the Committee may specify that any other Award shall constitute a Performance Award by conditioning the right of a Participant to exercise the Award or
have it settled, and the timing thereof, upon achievement or satisfaction of such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate
in establishing any performance conditions. Subject to the terms of the Plan, the performance goals to be achieved during any Performance Period, the length of any Performance Period, the amount of any Performance Award granted and the amount of any
payment or transfer to be made pursuant to any Performance Award shall be determined by the Committee. 
 (b) Performance criteria may be
measured on an absolute (e.g., plan or budget) or relative basis, and may be established on a corporate-wide basis, with respect to one or more business units, divisions, Subsidiaries or business segments, or on an individual basis. Relative
performance may be measured against a group of peer companies, a financial market index or other acceptable objective and quantifiable indices. If the Committee determines that a change in the business, operations, corporate structure or capital
structure of the Company, or the manner in which the Company conducts its business, or other events or circumstances render the performance objectives unsuitable, the Committee may modify the minimum acceptable level of achievement, in whole or in
part, as the Committee deems appropriate and equitable. Performance objectives shall be adjusted for material items not originally contemplated in establishing the performance target for items resulting from discontinued operations, extraordinary
gains and losses, the effect of changes in accounting standards or principles, acquisitions or divestitures, changes in tax rules or regulations, capital transactions, restructuring, nonrecurring gains or losses or unusual items. Performance
measures may vary from Performance Award to Performance Award, and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative. The Committee shall have the power to impose such other restrictions
on Awards subject to this Section 9(b) as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements of any applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations.

  
 7 

 (c) Settlement of Performance Awards shall be in cash, Shares, other Awards, other property,
net settlement or any combination thereof, as determined in the discretion of the Committee. Performance Awards will be settled only after the end of the relevant Performance Period. The Committee may, in its discretion, increase or reduce the
amount of a settlement otherwise to be made in connection with a Performance Award. 
 (d) A Performance Award shall not convey to a
Participant the rights and privileges of a shareholder with respect to the Shares subject to such Performance Award, such as the right to vote (except as relates to Restricted Stock) or the right to receive dividends, unless and until Shares are
issued to such Participant to settle such Performance Award. The Committee, in its sole discretion, may provide that a Performance Award shall convey the right to receive dividend equivalents on the Shares subject to such Performance Award with
respect to any dividends declared during the period that such Performance Award is outstanding, in which case, such dividend equivalent rights shall accumulate and shall be paid in cash or Shares on the settlement date of the Performance Award,
subject to the Participant’s earning of the Shares subject to such Performance Awards with respect to which such dividend equivalents are paid upon achievement or satisfaction of performance conditions specified by the Committee. Shares
delivered upon the vesting and settlement of a Performance Award may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration. For the avoidance of doubt, unless otherwise determined by the Committee, no
dividend equivalent rights shall be provided with respect to any Shares subject to Performance Awards that are not earned or otherwise do not vest or settle pursuant to their terms. 

Section 10. Other Share-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares or factors that may influence the value of Shares, including convertible or exchangeable
debt securities, other rights convertible or exchangeable into Shares, acquisition rights for Shares, Awards with value and payment contingent upon performance of the Company or business units thereof or any other factors designated by the
Committee. The Committee shall determine the terms and conditions of such Awards. 
 Section 11. Other Cash-Based Awards. The
Committee is authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, cash. The
Committee shall determine the terms and conditions of such Awards. 

  
 8 

 Section 12. Effect of Termination of Service or a Change in Control on Awards.

 (a) The Committee may provide, by rule or regulation or in any Award Document, or may determine in any individual case, the circumstances
in which, and the extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of a Participant’s Termination of Service prior to the vesting, exercise or settlement of such Award or the end of a Performance
Period. 
 (b) In the event of a Change in Control, outstanding Awards shall immediately vest and settle, and, with respect to Options and
SARs, shall become fully exercisable. Any performance criteria to which any such Awards are subject shall be deemed to be satisfied at target. 

Section 13. General Provisions Applicable to Awards. 

(a) Awards shall be granted for no cash consideration or for such minimal cash consideration as may be required by applicable law. 

(b) Awards may, in the discretion of the Committee, be granted either alone or in addition to or in tandem with any other Award or any award
granted under any other plan of the Company. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the Company, may be granted either at the same time as or at a
different time from the grant of such other Awards or awards. 
 (c) Subject to Section 19, payments or transfers to be made by the
Company upon the grant, exercise or settlement of an Award may be made in the form of cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined by the Committee in its discretion, and may be made in a
single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include provisions for the payment or crediting of reasonable
interest on installment or deferred payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments. 

(d) Except as may be permitted by the Committee or as specifically provided in an Award Document, (i) no Award and no right under any
Award shall be assignable, alienable, saleable or transferable by a Participant otherwise than by will or pursuant to Section 13(e) and (ii) during a Participant’s lifetime, each Award, and each right under any Award, shall be
exercisable only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, the Committee may, in its sole discretion, permit (on such terms, conditions and
limitations as it may establish) Options and/or shares issued in connection with an Option or a SAR exercise that are subject to restrictions on transferability, to be transferred to 

  
 9 

 
a member of a Participant’s immediate family or to a trust or similar vehicle for the benefit of a Participant’s immediate family members. The provisions of this Section 13(d)
shall not apply to any Award that has been fully exercised or settled, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 

(e) A Participant may designate a Beneficiary or change a previous Beneficiary designation at such times prescribed by the Committee by using
forms and following procedures approved or accepted by the Committee for that purpose. 
 (f) All certificates, if any, for Shares, and/or
other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations and other
requirements of the SEC, any stock market or exchange upon which such Shares or other securities are then quoted, traded or listed, and any applicable securities laws, and the Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to such restrictions. 
 (g) Without limiting the generality of Section 13(h), the Committee
may impose restrictions on any Award with respect to noncompetition, confidentiality and other restrictive covenants, or requirements to comply with minimum share ownership requirements, as it deems necessary or appropriate in its sole discretion.

 (h) The Committee may specify in an Award Document that the Participant’s rights, payments and benefits with respect to an Award
shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include a Termination of
Service with or without Cause (and, in the case of any Cause that is resulting from an indictment or other non-final determination, the Committee may provide for such Award to be held in escrow or abeyance
until a final resolution of the matters related to such event occurs, at which time the Award shall either be reduced, cancelled or forfeited (as provided in such Award Document) or remain in effect, depending on the outcome), violation of material
policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 

(i) Rights, payments and benefits under any Award shall be subject to repayment to or recoupment (“clawback”) by the Company in
accordance with such policies and procedures as the Committee or Board may adopt from time to time, including policies and procedures to implement applicable law, stock market or exchange rules and regulations or accounting or tax rules and
regulations. 

  
 10 

 Section 14. Amendments and Termination. 

(a) Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Document or in the Plan, the Board
may amend, alter, suspend, discontinue or terminate the Plan or any portion thereof at any time; provided, however, that no such amendment, alteration, suspension, discontinuation or termination shall be made without
(i) shareholder approval, if such approval is required by applicable law or the rules of the stock market or exchange, if any, on which the Shares are principally quoted or traded or (ii) the consent of the affected Participant, if such
action would materially adversely affect the rights of such Participant under any outstanding Award, except to the extent any such amendment, alteration, suspension, discontinuance or termination is made to cause the Plan to comply with applicable
law, stock market or exchange rules and regulations or accounting or tax rules and regulations, or to impose any recoupment provisions on any Awards in accordance with Section 13(i). Notwithstanding anything to the contrary in the Plan, the
Committee may amend the Plan or any Award Document in such manner as may be necessary or desirable to enable the Plan or such Award Document to achieve its stated purposes in any jurisdiction in a
tax-efficient manner and in compliance with local laws, rules and regulations to recognize differences in local law, tax policy or custom. The Committee also may impose conditions on the exercise or vesting of
Awards in order to minimize the Company’s obligation with respect to tax equalization for Participants on assignments outside of their home country. 

(b) The Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue or terminate any Award
theretofore granted, prospectively or retroactively, without the consent of any relevant Participant or holder or Beneficiary of an Award; provided, however, that, subject to Section 4(c) and Section 13(c), no such action
shall materially adversely affect the rights of any affected Participant or holder or Beneficiary under any Award theretofore granted under the Plan, except to the extent any such action is made to cause the Plan to comply with applicable law, stock
market or exchange rules and regulations or accounting or tax rules and regulations, or to impose any recoupment provisions on any Awards in accordance with Section 13(i). 

(c) Except as provided in Section 9(b), the Committee shall be authorized to make adjustments in the terms and conditions of, and the
criteria included in, Awards in recognition of events (including the events described in Section 4(c)) affecting the Company, or the financial statements of the Company, or of changes in applicable law, stock market or exchange rules and
regulations or accounting or tax rules and regulations, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the
Plan. 

  
 11 

 (d) The Committee may correct any defect, supply any omission or reconcile any inconsistency
in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect. 
 Section 15.
Option and SAR Repricing. Except as provided in Section 4(c), the Committee may not, without shareholder approval, seek to effect any re-pricing of any previously granted “underwater” Option
or SAR by: (i) amending or modifying the terms of the Option or SAR to lower the exercise price; (ii) cancelling the underwater Option or SAR and granting either (A) replacement Options or SARs having a lower exercise price or
(B) Restricted Stock, RSU, Performance Award or Other Share-Based Award in exchange; or (iii) cancelling or repurchasing the underwater Options or SARs for cash or other securities. An Option or SAR will be deemed to be
“underwater” at any time when the Fair Market Value of the Shares covered by such Award is less than the exercise price of the Award. 

Section 16. Miscellaneous. 

(a) No Employee, Participant or other person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Employees, Participants or holders or Beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to each recipient, including as necessary or desirable to recognize
differences in local law, tax policy or custom. Any Award granted under the Plan shall be a one-time Award that does not constitute a promise of future grants. The Company, in its sole discretion, maintains
the right to make available future grants under the Plan. 
 (b) No payment pursuant to the Plan shall be taken into account in determining
any benefits under any severance, pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Affiliate, except to the extent otherwise expressly provided in writing in such other plan or an
agreement thereunder. 
 (c) The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of,
or to continue to provide services to, the Company or any Affiliate. Further, the Company or the applicable Affiliate may at any time dismiss a Participant, free from any liability, or any claim under the Plan, unless otherwise expressly provided in
the Plan or in any Award Document or in any other agreement binding the parties. The receipt of any Award under the Plan is not intended to confer any rights on the receiving Participant except as set forth in the applicable Award Document. 

(d) Nothing contained in the Plan shall prevent the Company from adopting or continuing in effect other or additional compensation
arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 

  
 12 

 (e) The Company shall be authorized to withhold from any Award granted or any payment due or
transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other Awards, other property, net settlement or any combination thereof) of applicable withholding taxes due
in respect of an Award, its exercise or settlement or any payment or transfer under such Award or under the Plan and to take such other action (including providing for elective payment of such amounts in cash or Shares by the Participant) as may be
necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. 
 (f) If any provision of the Plan or any
Award Document is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction, or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award Document, such provision shall be
stricken as to such jurisdiction, person or Award, and the remainder of the Plan and any such Award Document shall remain in full force and effect. 

(g) No Shares shall be issued pursuant to the Plan in the event the Company determines that: (i) it and the Participant have not taken
all actions required to register the Shares under the Securities Act and any other applicable securities laws and there is no exemption from such registration under applicable law; (ii) an applicable listing requirement of any stock exchange on
which the Company is listed has not been satisfied; or (iii) another applicable provision of law has not been satisfied. 
 (h) Each
Award Document shall provide that no Shares shall be purchased or sold thereunder unless and until (a) any then applicable requirements of any state or federal laws and regulatory agencies in any applicable country have been fully complied with
to the satisfaction of the Company and its counsel and (b) if required to do so by the Company, the Participant has executed and delivered to the Company a letter of investment intent in such form and containing such provisions as the
Committee may require. The Company shall use reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell Shares upon
exercise of the Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Award or any Shares issued or issuable pursuant to any such Award. If, after
reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Shares under the Plan, the Company shall be relieved
from any liability for failure to issue and sell Shares upon exercise of such Awards unless and until such authority is obtained. 

  
 13 

 (i) Neither the Plan nor any Award shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the extent that any person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no greater
than the right of any unsecured general creditor of the Company. 
 (j) No fractional Shares shall be issued or delivered pursuant to the
Plan or any Award, and the Committee shall determine whether cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise
eliminated. 
 (k) Awards may be granted to Participants who are non-United States nationals or
employed or providing services outside the United States, or both, on such terms and conditions different from those applicable to Awards to Participants who are employed or providing services in the United States as may, in the judgment of the
Committee, be necessary or desirable to recognize differences in local law, tax policy or custom. The Committee also may impose conditions on the exercise or vesting of Awards in order to minimize the Company’s obligation with respect to tax
equalization for Participants on assignments outside their home country. 
 Section 17. Effective Date of the Plan. The Plan is
effective as of the effective date of the registration statement filed by the Company with the SEC for its initial offering of Shares to the public. 

Section 18. Term of the Plan. No Award shall be granted under the Plan after the earliest to occur of (i) the tenth
anniversary of the effectiveness of the Plan (the “Plan Expiration Date”); provided that, to the extent permitted by the listing rules of any stock exchanges on which the Company is listed, such Plan Expiration Date
may be extended indefinitely so long as the maximum number of Shares available for issuance under the Plan have not been issued, (ii) the maximum number of Shares available for issuance under the Plan have been issued or (iii) the Board
terminates the Plan in accordance with Section 14(a). However, unless otherwise expressly provided in the Plan or in an applicable Award Document, any Award theretofore granted may extend beyond such date, and the authority of the Committee to
amend, alter, adjust, suspend, discontinue or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date. 

  
 14 

 Section 19. Sections 409A and 457A of the Code. 

(a) With respect to Awards subject to Section 409A and/or 457A of the Code, the Plan is intended to comply with the requirements of
Sections 409A and 457A of the Code, and the provisions of the Plan and any Award Document shall be interpreted in a manner that satisfies the requirements of Sections 409A and 457A of the Code, and the Plan shall be operated accordingly. If any
provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict. If an amount payable under an
Award as a result of the Participant’s Termination of Service (other than due to death) occurring while the Participant is a “specified employee” under Section 409A of the Code constitutes a deferral of compensation subject to
Section 409A of the Code, then payment of such amount shall not occur until six months and one day after the date of the Participant’s Termination of Service, except as permitted under Section 409A of the Code. If the Award includes a
“series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s right to the series of installment payments shall be
treated as a right to a series of separate payments and not as a right to a single payment, and if the Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of the
Treasury Regulations), the Participant’s right to the dividend equivalents shall be treated separately from the right to other amounts under the Award. Notwithstanding the foregoing, the tax treatment of the benefits provided under the Plan or
any Award Document is not warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A and 457A of the Code. 
 (b) Notwithstanding any provision of the
Plan to the contrary or any Award Document, in the event the Committee determines that any Award may be subject to Section 409A or Section 457A of the Code, the Committee may adopt such amendments to the Plan and the applicable Award
Document or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from
Section 409A or Section 457A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A or Section 457A and thereby avoid
the application of any adverse tax consequences under such Sections. 
 (c) Notwithstanding any provision of the Plan to the contrary or any
Award Document, a termination of employment shall not be deemed to have occurred for purposes of any provision of an Award that is subject to Section 409A providing for payment upon or following a termination of a Participant’s employment
unless such termination is also a “separation from service” and, for purposes of any such provision of such Award, references to a “termination,” “termination of employment” or like terms shall mean “separation
from service.” 

  
 15 

 Section 20. Data Protection. The Company holds and processes personal
information provided by the Participant, such as name, account information, social security number, tax number and contact information, and uses the Participant’s personal data within the Company’s legitimate business purposes and as
necessary for all purposes relating to the operation and performance of the Plan. These are: 
 (i) administering and maintaining
Participant records; 
 (ii) providing the services described in the Plan; 

(iii) providing information to future purchasers or merger partners of the Company or any Affiliate, or the business in which the Participant
works; and 
 (iv) responding to public authorities, court orders and legal investigations, as applicable. 

The Company may share the Participant’s personal data with (i) Affiliates, (ii) trustees of any employee benefit trust,
(iii) registrars, (iv) brokers, (v) third party administrators of the Plan or (vi) regulators and others, as required by law. 

If necessary, the Company may transfer the Participant’s personal data to any of the parties mentioned above in any country or territory
that may not provide the same protection for the information as the Participant’s home country. Any transfer of the Participant’s personal data from the EU to a third country is subject to appropriate safeguards in the form of EU standard
contractual clauses (according to decisions 2001/497/EC, 2004/915/EC, 2010/87/EU) or applicable derogations provided for under applicable law. Further information on those safeguards or derogations can be obtained through the contact listed below.

 The Company will keep personal information for as long as necessary to operate the Plan or as necessary to comply with any legal or
regulatory requirements. 
 The Participant has a right to (i) request access to and rectification or erasure of the personal data
provided, (ii) request the restriction of the processing of his or her personal data, (iii) object to the processing of his or her personal data, (iv) receive the personal data provided to the Company and transmit such data to another
party, and (v) to lodge a complaint with a supervisory authority. 
 Section 21. Governing Law. The Plan and each Award
Document shall be governed by the laws of Delaware. The Company, its Affiliates and each Participant (by acceptance of an Award) irrevocably submit, in respect of any suit, action or proceeding related to the implementation or enforcement of the
Plan, to the exclusive jurisdiction of the competent courts in Delaware. 

  
 16 

 Section 22. Definitions. As used in the Plan, the following terms shall have the
meanings set forth below: 
 (a) “Affiliate” means (i) any entity that, directly or indirectly, is controlled by the
Company, (ii) any entity in which the Company, directly or indirectly, has a significant equity interest, in each case as determined by the Committee, (iii) any entity that, directly or indirectly, controls the Company and (iv) any
other entity which the Committee determines should be treated as an “Affiliate.” 
 (b) “Award” means any Option,
SAR, Restricted Stock, RSU, Performance Award, Other Share-Based Award or Other Cash-Based Award granted under the Plan. 
 (c)
“Award Document” means any agreement, contract or other instrument or document, which may be in electronic format, evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a Participant.

 (d) “Beneficiary” means a person entitled to receive payments or other benefits or exercise rights that are available
under the Plan in the event of the Participant’s death. If no such person is named by a Participant, or if no Beneficiary designated by the Participant is eligible to receive payments or other benefits or exercise rights that are available
under the Plan at the Participant’s death, such Participant’s Beneficiary shall be such Participant’s estate. 
 (e)
“Board” means the board of directors of the Company. 
 (f) “Cause” means, with respect to any
Participant, “cause” as defined in such Participant’s employment agreement with the Company, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document, such Participant’s
(i) dishonesty or other serious misconduct related to Participant’s performance of his or her employment duties, (ii) willful and continual failure (unless due to incapacity resulting from physical or mental illness) to perform the
duties of employment after written demand for substantial performance is delivered by the Company specifically identifying the manner in which Participant has not substantially performed such duties or (iii) conviction of, plea of guilty to, or
plea of nolo contendere to (x) a felony or (y) a misdemeanor involving moral turpitude, fraud or dishonesty. 
 (g)
“Change in Control” means the occurrence of any one or more of the following events: 
 (i) a direct or
indirect change in ownership or control of the Company effected through one transaction or a series of related transactions within a 12-month period, whereby any Person other than the Company, directly or
indirectly acquires or maintains beneficial ownership of securities of the Company constituting more than 50% of the total combined voting power of the Company’s equity securities issued and outstanding immediately after such acquisition; 

  
 17 

 (ii) at any time during a period of 24 consecutive months, individuals who
at the beginning of such period constituted the Board cease for any reason to constitute a majority of members of the Board; provided, however, that any new member of the Board whose election or nomination for election was approved by
a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was so approved, shall be considered as though such individual were a
member of the Board at the beginning of the period, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 

(iii) the consummation of a merger, amalgamation or consolidation of the Company or any of its Subsidiaries with any other
corporation or entity, other than a merger, amalgamation or consolidation which would result in the voting securities of the Company issued and outstanding immediately prior to such merger, amalgamation or consolidation continuing to represent
(either by remaining issued and outstanding or being converted into voting securities of the surviving entity or, if applicable, the ultimate parent thereof) at least 50% of the combined voting power and total Fair Market Value of the securities of
the Company or such surviving entity or parent issued and outstanding immediately after such merger, amalgamation or consolidation; or 

(iv) the consummation of any sale, lease, exchange or other transfer to any Person (other than an Affiliate of the Company), in
one transaction or a series of related transactions within a 12-month period, of all or substantially all of the assets of the Company and its Subsidiaries. 

Notwithstanding the foregoing or any provision of any Award Document to the contrary, for any Award to which Section 19 applies that provides for
accelerated distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in Section 409A and 457A of the Code), if the event that constitutes such Change in Control does not also constitute a
change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (in either case, as defined in Section 409A and 457A of the Code), such amount shall not be distributed on
such Change in Control but instead shall vest as of the date of such Change in Control and shall be paid on the scheduled payment date specified in the applicable Award Document, except to the extent that earlier distribution would not result in the
Participant who holds such Award incurring any additional tax, penalty, interest or other expense under Section 409A and 457A of the Code. 

(h) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules, regulations and guidance
thereunder. Any reference to a provision in the Code shall include any successor provision thereto. 

  
 18 

 (i) “Committee” means the Compensation Committee of the Board or such other
committee as may be designated by the Board. If the Board does not designate the Committee, or, at the Board’s discretion with respect to any action, references herein to the “Committee” shall refer to the Board. 

(j) “Consultant” means any individual, including an advisor, who is providing services to the Company or any of its
Affiliates or who has accepted an offer of service or consultancy from the Company or any of its Affiliates. 
 (k)
“Director” means a member of the Board. 
 (l) “Disability” shall mean, unless otherwise provided in an
Award Document, that the Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than
twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company; provided, that, if applicable to the Award,
“Disability” shall be determined in a manner consistent with Section 409A of the Code. 
 (m) “Employee”
means any individual, including any officer, employed by the Company or any of its Affiliates or any prospective employee or officer who has accepted an offer of employment from the Company or any of its Affiliates, with the status of employment
determined based upon such factors as are deemed appropriate by the Committee in its discretion, subject to any requirements of the Code or applicable laws. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules, regulations and
guidance thereunder. Any reference to a provision in the Exchange Act shall include any successor provision thereto. 
 (o) “Fair
Market Value” means (i) with respect to a Share, the closing price of a Share on the date in question (or, if there is no reported sale on such date, on the last preceding date on which any reported sale occurred) on the principal
stock market or exchange on which the Shares are quoted or traded, or if Shares are not so quoted or traded, the fair market value of a Share as determined by the Committee, and (ii) with respect to any property other than Shares, the fair
market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. In the case of grants made in connection with an initial public offering (“IPO”), Fair Market Value
means the per share price initially offered for sale to the public in connection with the IPO. 

  
 19 

 (p) “Option” means an option representing the right to acquire Shares from
the Company, granted in accordance with the provisions of Section 7. 
 (q) “Other Cash-Based Award” means an Award
granted in accordance with the provisions of Section 11. 
 (r) “Other Share-Based Award” means an Award granted in
accordance with the provisions of Section 10. 
 (s) “Participant” means the recipient of an Award granted under the
Plan. 
 (t) “Performance Award” means an Award granted in accordance with the provisions of Section 9. 

(u) “Performance Period” means the period established by the Committee at the time any Performance Award is granted or at any
time thereafter during which any performance goals specified by the Committee with respect to such Award are measured. 
 (v)
“Person” has the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 

(w) “Replacement Award” means an Award granted in assumption of, or in substitution for, an outstanding award previously
granted by a company or business acquired by the Company or with which the Company, directly or indirectly, combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise). 

(x) “Restricted Stock” means any Share subject to certain restrictions and forfeiture conditions, granted in accordance with
the provisions of Section 5. 
 (y) “Retirement” means, with respect to any Participant, such Participant’s
voluntary Termination of Service on or after the earliest to occur of: (i) the date on which such Participant attains age 62, (ii) the date on which such Participant attains age 55 and has completed 10 years of service with the Company or an
Affiliate (or predecessor thereof) or (iii) such Participant’s age plus years of service with the Company or an Affiliate (or predecessor thereof) totals at least 70. 

(z) “RSU” means a contractual right granted in accordance with the provisions of Section 6 that is denominated in
Shares. Each RSU represents a right to receive the value of one Share. Awards of RSUs may include the right to receive dividend equivalents. 

  
 20 

 (aa) “SAR” means any right granted in accordance with the provisions of
Section 8 to receive upon exercise by a Participant or settlement the excess of (i) the Fair Market Value of one Share on the date of exercise or settlement over (ii) the exercise price of the right on the date of grant, or if granted
in connection with an Option, on the date of grant of the Option. 
 (bb) “SEC” means the Securities Exchange Commission.

 (cc) “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules, regulations and
guidance thereunder. Any reference to a provision in the Securities Act shall include any successor provision thereto. 
 (dd)
“Shares” means common shares of the Company. 
 (ee) “Termination of Service” means: 

(i) in the case of a Participant who is an Employee of the Company or an Affiliate, cessation of the employment relationship
such that the Participant is no longer an Employee of the Company or an Affiliate; 
 (ii) in the case of a Participant who
is a Director, the date that the Participant ceases to be a member of the Board for any reason; or 
 (iii) in the case of a
Participant who is a Consultant or other advisor, the effective date of the cessation of the performance of services for the Company or any of its Affiliates; 

provided, however, that in the case of an Employee, the transfer of employment from the Company to an Affiliate, from an Affiliate to the
Company, from one Affiliate to another Affiliate or, unless the Committee determines otherwise, the cessation of Employee status but the continuation of the performance of services for the Company or an Affiliate as a member of the Board or a
Consultant or other advisor shall not be deemed a cessation of service that would constitute a Termination of Service; and provided further that a Termination of Service will be deemed to occur for a Participant employed by an Affiliate when
an Affiliate ceases to be an Affiliate, unless such Participant’s employment continues with the Company or another Affiliate. 

  
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